Document:

Amended and Restated Credit Agreement, dated as of February 25, 2011

 Exhibit 10.1 

 
  

 
 AMENDED AND RESTATED CREDIT
AGREEMENT 
 Dated as of February 25, 2011 
 among 
 MICHAEL FOODS GROUP, INC. 

(f/k/a M-FOODS HOLDINGS, INC.) 
 as the Borrower, 
 MFI MIDCO CORPORATION, 

as Holdings, 
 BANK
OF AMERICA, N.A., 
 as Administrative Agent, Swing Line Lender 

and L/C Issuer, 

The Other Lenders Party Hereto, 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 
 GOLDMAN SACHS LENDING
PARTNERS LLC 
 BARCLAYS CAPITAL 
 as Joint Lead Arrangers and Bookrunners 
 GOLDMAN SACHS LENDING PARTNERS LLC

 as Syndication Agent, 
 and 
 BARCLAYS BANK PLC 

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., 
 “RABOBANK NEDERLAND”, NEW YORK BRANCH 
 ING CAPITAL LLC 

NORTHWEST FARM CREDIT SERVICES, PCA 
 SUNTRUST BANK 
 as Co-Documentation Agents 

 
  

 

 TABLE OF CONTENTS 

 

							
	 Section
	  	 	  	Page	 
	
	ARTICLE I	  
	DEFINITIONS AND ACCOUNTING TERMS	  
			
	1.01	  	Defined Terms	  	 	7	  
	1.02	  	Other Interpretive Provisions	  	 	60	  
	1.03	  	Accounting Terms	  	 	60	  
	1.04	  	Rounding	  	 	61	  
	1.05	  	References to Agreements and Laws	  	 	61	  
	1.06	  	Times of Day	  	 	61	  
	1.07	  	Timing of Payment or Performance	  	 	61	  
	1.08	  	Currency Equivalents Generally	  	 	61	  
	1.09	  	Letter of Credit Amounts	  	 	61	  
	1.10	  	Pro Forma Calculations	  	 	62	  
	
	ARTICLE II	  
	THE COMMITMENTS AND CREDIT EXTENSIONS	  
			
	2.01	  	The Loans	  	 	62	  
	2.02	  	Borrowings, Conversions and Continuations of Loans	  	 	65	  
	2.03	  	Letters of Credit	  	 	67	  
	2.04	  	Swing Line Loans	  	 	76	  
	2.05	  	Prepayments	  	 	79	  
	2.06	  	Termination or Reduction of Commitments	  	 	84	  
	2.07	  	Repayment of Loans	  	 	85	  
	2.08	  	Interest	  	 	87	  
	2.09	  	Fees	  	 	87	  
	2.10	  	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate	  	 	88	  
	2.11	  	Evidence of Indebtedness	  	 	89	  
	2.12	  	Payments Generally; Administrative Agent’s Clawback	  	 	90	  
	2.13	  	Sharing of Payments	  	 	92	  
	2.14	  	Increase in Revolving Credit Facility	  	 	93	  
	2.15	  	Increase in Term B Facility	  	 	94	  
	2.16	  	New Term Facility	  	 	96	  
	2.17	  	Cash Collateral	  	 	97	  
	2.18	  	Defaulting Lenders	  	 	99	  
	
	ARTICLE III	  
	TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY	  
			
	3.01	  	Taxes	  	 	100	  
	3.02	  	Illegality	  	 	103	  
	3.03	  	Inability to Determine Rates	  	 	103	  
	3.04	  	Increased Cost and Reduced Return; Capital Adequacy	  	 	104	  

							
	3.05	  	Funding Losses	  	 	104	  
	3.06	  	Matters Applicable to All Requests for Compensation	  	 	105	  
	3.07	  	Replacement of Lenders under Certain Circumstances	  	 	106	  
	3.08	  	Survival	  	 	107	  
	
	ARTICLE IV	  
	CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	  
			
	4.01	  	Conditions to Amendment and Restatement	  	 	107	  
	4.02	  	Conditions to All Credit Extensions	  	 	110	  
	
	ARTICLE V	  
	REPRESENTATIONS AND WARRANTIES	  
			
	5.01	  	Existence, Qualification and Power; Compliance with Laws	  	 	110	  
	5.02	  	Authorization; No Contravention	  	 	111	  
	5.03	  	Governmental Authorization; Other Consents	  	 	111	  
	5.04	  	Binding Effect	  	 	111	  
	5.05	  	Financial Statements; No Material Adverse Effect	  	 	111	  
	5.06	  	Litigation	  	 	112	  
	5.07	  	No Default	  	 	113	  
	5.08	  	Ownership of Property; Liens	  	 	113	  
	5.09	  	Environmental Compliance	  	 	113	  
	5.10	  	[Reserved]	  	 	114	  
	5.11	  	Taxes	  	 	114	  
	5.12	  	ERISA Compliance	  	 	114	  
	5.13	  	Subsidiaries; Equity Interests	  	 	115	  
	5.14	  	Margin Regulations; Investment Company Act	  	 	115	  
	5.15	  	Disclosure	  	 	116	  
	5.16	  	Compliance with Laws	  	 	116	  
	5.17	  	Intellectual Property; Licenses, Etc.	  	 	116	  
	5.18	  	Solvency	  	 	117	  
	5.19	  	[Reserved]	  	 	117	  
	5.20	  	Labor Matters	  	 	117	  
	5.21	  	Perfection, Etc.	  	 	117	  
	5.22	  	Tax Shelter Regulations	  	 	117	  
	5.23	  	PATRIOT Act	  	 	117	  
	
	ARTICLE VI	  
	AFFIRMATIVE COVENANTS	  
			
	6.01	  	Financial Statements	  	 	118	  
	6.02	  	Certificates; Other Information	  	 	119	  
	6.03	  	Notices	  	 	121	  
	6.04	  	Payment of Obligations	  	 	122	  
	6.05	  	Preservation of Existence, Etc.	  	 	122	  
	6.06	  	Maintenance of Properties	  	 	122	  

  
 ii 

							
	6.07	  	Maintenance of Insurance	  	 	122	  
	6.08	  	Compliance with Laws	  	 	122	  
	6.09	  	Books and Records	  	 	123	  
	6.10	  	Inspection Rights	  	 	123	  
	6.11	  	Use of Proceeds	  	 	123	  
	6.12	  	Covenant to Guarantee Obligations and Give Security	  	 	123	  
	6.13	  	Compliance with Environmental Laws	  	 	126	  
	6.14	  	Further Assurances	  	 	126	  
	6.15	  	Maintenance of Ratings	  	 	128	  
	6.16	  	Conference Calls	  	 	128	  
	
	ARTICLE VII	  
	NEGATIVE COVENANTS	  
			
	7.01	  	Liens	  	 	128	  
	7.02	  	Investments	  	 	132	  
	7.03	  	Indebtedness	  	 	135	  
	7.04	  	Fundamental Changes	  	 	137	  
	7.05	  	Dispositions	  	 	138	  
	7.06	  	Restricted Payments	  	 	140	  
	7.07	  	Change in Nature of Business	  	 	143	  
	7.08	  	Transactions with Affiliates	  	 	143	  
	7.09	  	Burdensome Agreements	  	 	143	  
	7.10	  	Use of Proceeds	  	 	144	  
	7.11	  	Financial Covenants	  	 	144	  
	7.12	  	Amendments of Organization Documents	  	 	145	  
	7.13	  	Accounting Changes	  	 	145	  
	7.14	  	Prepayments, Etc. of Indebtedness	  	 	145	  
	7.15	  	Reserved	  	 	146	  
	7.16	  	Holding Company	  	 	146	  
	
	ARTICLE VIII	  
	EVENTS OF DEFAULT AND REMEDIES	  
			
	8.01	  	Events of Default	  	 	146	  
	8.02	  	Remedies Upon Event of Default	  	 	149	  
	8.03	  	Right to Cure	  	 	149	  
	8.04	  	Application of Funds	  	 	150	  
	
	ARTICLE IX	  
	ADMINISTRATIVE AGENT AND OTHER AGENTS	  
			
	9.01	  	Appointment and Authorization of Agents	  	 	151	  
	9.02	  	Delegation of Duties	  	 	152	  
	9.03	  	Liability of Agents	  	 	153	  
	9.04	  	Reliance by Agents	  	 	153	  
	9.05	  	Notice of Default	  	 	154	  

  
 iii

							
	9.06	  	Credit Decision; Disclosure of Information by Agents	  	 	154	  
	9.07	  	Indemnification of Agents	  	 	154	  
	9.08	  	Agents in their Individual Capacities	  	 	155	  
	9.09	  	Successor Agents	  	 	155	  
	9.10	  	Administrative Agent May File Proofs of Claim	  	 	156	  
	9.11	  	Collateral and Guaranty Matters	  	 	157	  
	9.12	  	Secured Cash Management Agreements and Secured Hedge Agreements	  	 	158	  
	9.13	  	Other Agents; Arranger and Managers	  	 	158	  
	9.14	  	Appointment of Supplemental Administrative Agents	  	 	158	  
	
	ARTICLE X	  
	MISCELLANEOUS	  
			
	10.01	  	Amendments, Etc.	  	 	159	  
	10.02	  	Notices; Effectiveness; Electronic Communications	  	 	162	  
	10.03	  	No Waiver; Cumulative Remedies; Enforcement	  	 	164	  
	10.04	  	Expenses and Taxes	  	 	164	  
	10.05	  	Indemnification by the Borrower	  	 	165	  
	10.06	  	Payments Set Aside	  	 	166	  
	10.07	  	Successors and Assigns	  	 	167	  
	10.08	  	Confidentiality	  	 	173	  
	10.09	  	Setoff	  	 	174	  
	10.10	  	Interest Rate Limitation	  	 	175	  
	10.11	  	Counterparts	  	 	175	  
	10.12	  	Integration; Effectiveness	  	 	175	  
	10.13	  	Survival of Representations and Warranties	  	 	175	  
	10.14	  	Severability	  	 	176	  
	10.15	  	Tax Forms	  	 	176	  
	10.16	  	Governing Law; Jurisdiction; Etc.	  	 	178	  
	10.17	  	WAIVER OF RIGHT TO TRIAL BY JURY	  	 	179	  
	10.18	  	Binding Effect	  	 	180	  
	10.19	  	No Advisory or Fiduciary Responsibility	  	 	180	  
	10.20	  	Affiliate Activities	  	 	180	  
	10.21	  	Electronic Execution of Assignments and Certain Other Documents	  	 	181	  
	10.22	  	USA PATRIOT ACT	  	 	181	  
	10.23	  	Amendment and Restatement	  	 	181	  
		
	 SIGNATURES
	  	 	S-1	  

  
 iv 

 SCHEDULES 
  

			
	I	  	Guarantors
	2.01	  	Commitments and Pro Rata Shares
	5.05	  	Supplement to Interim Financial Statements
	5.08(b)	  	Owned Real Property
	5.08(c)	  	Leased Real Property
	5.08(d)	  	Other Locations of Tangible Personal Property
	5.09	  	Environmental Matters
	5.12(d)	  	Pension Plans
	5.13	  	Subsidiaries and Other Equity Investments
	5.17	  	Intellectual Property Matters
	5.20	  	Labor Matters
	6.14(b)	  	Mortgaged Properties
	7.01	  	Existing Liens
	7.02	  	Existing Investments
	7.03	  	Existing Indebtedness
	10.02	  	Administrative Agent’s Office, Certain Addresses for Notices

 EXHIBITS 
  

			
		  	Form of
		
	A	  	Committed Loan Notice
	B	  	Swing Line Loan Notice
	C-1	  	Term B Note
	C-2	  	Revolving Credit Note
	D	  	Compliance Certificate
	E-1	  	Assignment and Assumption
	E-2	  	Affiliate Lender Assignment and Assumption
	E-3	  	Administrative Questionnaire
	F-1	  	Holdings Guaranty
	F-2	  	Subsidiary Guaranty
	G	  	Security Agreement
	H	  	Form of Mortgage
	I	  	Intellectual Property Security Agreement
	J	  	Affirmation Agreement

  
 v 

 AMENDED AND RESTATED CREDIT AGREEMENT 

This AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of February 25, 2011, among
MICHAEL FOODS GROUP, INC. (f/k/a M-FOODS HOLDINGS, INC.), a Delaware corporation (the “Borrower”), MFI MIDCO CORPORATION, a Delaware corporation (“Holdings”), each lender from time to time party hereto
(collectively, the “Lenders” and individually, a “Lender”), GOLDMAN SACHS LENDING PARTNERS LLC, as Syndication Agent, BARCLAYS BANK PLC, COOPERATIEVE CENTRALE RAIFFEISEN BOERENLEENBANK B.A.,
“RABOBANK INTERNATIONAL”, NEW YORK BRANCH, ING CAPITAL LLC, NORTHWEST FARM CREDIT SERVICES, PCA and SUNTRUST BANK, as Co-Documentation Agents, and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

 PRELIMINARY STATEMENTS 
 Certain of the parties hereto have heretofore entered into that certain Credit Agreement dated as of June 29, 2010 (as amended, restated, amended and restated, supplemented or otherwise modified
through the date hereof and in effect immediately prior to the effectiveness of this Amended and Restated Credit Agreement, the “Existing Credit Agreement”). 

The Existing Credit Agreement was executed and delivered in connection with the Merger Agreement (as that and other capitalized terms
used in these preliminary statements are defined elsewhere in this Agreement), pursuant to which MFI Acquisition Corporation, a Delaware corporation (“Merger Sub”), was merged with and into the Borrower in accordance with the
terms thereof (the “Merger”). 
 The Borrower has requested from the Lenders certain modifications to
the Existing Revolving Credit Facility and the Existing Term B Facility, including, in each case, an extension of the maturity date thereof. 
 To effect such modifications, subject to the satisfaction of the conditions set forth in Section 4.01 hereof, the Existing Credit Agreement shall be amended and restated in its entirety as set forth
herein (the “Amendment and Restatement”). 
 In consideration of the mutual covenants and agreements
herein contained, the parties hereto covenant and agree as follows: 
 ARTICLE I 

DEFINITIONS AND ACCOUNTING TERMS 
 1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 
 “Administrative Agent” means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent. 

  
 7 

 “Administrative Agent’s Office” means the Administrative
Agent’s address and, as appropriate, account as set forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit E-3 or
any other form approved by the Administrative Agent. 
 “Affiliate” means, with respect to any Person,
another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. “Control” means the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have
meanings correlative thereto. 
 “Affiliate Lenders” means, collectively, Holdings and its Subsidiaries,
Non-Debt Fund Affiliates and Debt Fund Affiliates. 
 “Affirmation Agreement” means an Affirmation
Agreement dated as of the Effective Date and executed by the Loan Parties, in substantially the form of Exhibit J. 

“Agent Parties” has the meaning specified in Section 10.02(c). 

“Agent-Related Persons” means each Agent, together with its Affiliates, and the officers, directors, employees,
agents, attorneys-in-fact, trustees and advisors of such Persons and Affiliates. 
 “Agents” means,
collectively, the Administrative Agent, the Syndication Agent, the Co-Documentation Agents and the Supplemental Administrative Agents (if any). 
 “Aggregate Commitments” means the Commitments of all the Lenders. 
 “Agreement” means this Amended and Restated Credit Agreement. 
 “Applicable Commitment Fee” means a percentage per annum equal to (i) from the Effective Date until the first Business Day that immediately follows the date on which a
Compliance Certificate is delivered pursuant to Section 6.02(b) in respect of the first fiscal quarter ending after the Effective Date, 0.75% per annum, and (ii) thereafter, the applicable percentage per annum set
forth below, as determined by reference to the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b): 

 

							
	 Pricing
 Level
	  	Total Leverage Ratio	  	Applicable Commitment Fee	 
	 1
	  	< 4.0:1	  	 	0.50	% 
	 2
	  	> 4.0:1	  	 	0.75	% 

  
 8 

 Any increase or decrease in the Applicable Commitment Fee resulting from a change in the Total Leverage
Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided, however, that “Pricing Level 2” shall apply
(x) as of the first Business Day at any time after the date on which a Compliance Certificate was required to have been delivered but was not delivered, until the first Business Day immediately following the date on which such Compliance
Certificate is delivered, or (y) at all times if an Event of Default shall have occurred and be continuing. 

Notwithstanding anything to the contrary contained in this definition, the determination of the Applicable Commitment Fee for any period
shall be subject to the provisions of Section 2.10(b). 
 “Applicable Rate” means a
percentage per annum equal to: 
 (a) with respect to Term B Loans, 3.00% per annum for
Eurodollar Rate Loans, and 2.00% per annum for Base Rate Loans; and 
 (b) with respect to the
Revolving Credit Facility, (i) from the Effective Date until the first Business Day that immediately follows the date on which a Compliance Certificate is delivered pursuant to Section 6.02(b) in respect of the first fiscal quarter
ending after the Effective Date, 4.50% per annum for Eurodollar Rate Loans, and 3.50% per annum for Base Rate Loans, and (ii) thereafter, the applicable percentage per annum set forth below, as determined by
reference to the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b): 

 

											
	 Applicable Rate
	 
	 Pricing
 Level
	  	Total Leverage Ratio	  	Eurodollar Rate
and Letters of
Credit	 	 	Base Rate	 
	 1
	  	< 4.0:1	  	 	4.25	% 	 	 	3.25	% 
	 2
	  	3 4.0:1	  	 	4.50	% 	 	 	3.50	% 

 Any increase or decrease in the Applicable
Rate resulting from a change in the Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided,
however, that “Pricing Level 2” shall apply (x) as of the first Business Day at any time after the date on which a Compliance Certificate was required to have been delivered but was not delivered, until the first Business Day
immediately following the date on which such Compliance Certificate is delivered, or (y) at all times if an Event of Default shall have occurred and be continuing. 
 Notwithstanding anything to the contrary contained in this definition, the determination of the Applicable Rate for any period shall be subject to the provisions of Section 2.10(b).

  
 9 

 “Appropriate Lender” means, at any time, (a) with respect to
any of the Term B Facility or the Revolving Credit Facility, a Lender that has a Commitment with respect to such Facility or holds a Term B Loan or a Revolving Credit Loan, respectively, at such time, (b) with respect to the Letter of
Credit Sublimit, (i) each L/C Issuer and (ii) if any Letters of Credit have been issued pursuant to Section 2.03(a), the Revolving Credit Lenders and (c) with respect to the Swing Line Facility, (i) the Swing Line
Lender and (ii) if any Swing Line Loans are outstanding pursuant to Section 2.04(a), the Revolving Credit Lenders. 
 “Approved Domestic Bank” has the meaning specified in clause (b) of the definition of “Cash Equivalents”. 

“Approved Foreign Bank” has the meaning specified in clause (f) of the definition of “Cash
Equivalents”. 
 “Approved Fund” means any Fund that is administered, advised or managed by
(a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers, advises or manages a Lender. 
 “Arrangers” means each of MLPFS, GSLP and Barclays, in their capacities as exclusive lead arrangers and bookrunners. 

“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved
Funds managed by the same investment advisor. 
 “Assignment and Assumption” means an Assignment and
Assumption substantially in the form of Exhibit E-1. 
 “Attributable Indebtedness” means, on any
date, (a) in respect of any Capitalized Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease
Obligation, the capitalized amount of the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a capital lease.

 “Audited Financial Statements” means the audited consolidated balance sheet of the Borrower and its
Subsidiaries for the fiscal years ended January 2, 2010 and January 3, 2009, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Borrower and its
Subsidiaries, including the notes thereto. 
 “Auto-Renewal Letter of Credit” has the meaning specified
in Section 2.03(b)(iii). 
 “Bank of America” means Bank of America, N.A. and its
successors. 
 “Barclays” means Barclays Capital, the investment banking division of
Barclays Bank, and its successors. 
 “Barclays Bank” means Barclays Bank PLC and its
successors. 

  
 10 

 “Base Rate” means for any day a fluctuating rate per annum
equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”, and (c) the Eurodollar Rate
plus 1%. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing
some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.

 “Base Rate Loan” means a Loan that bears interest based on the Base Rate. 

“Borrower” has the meaning specified in the introductory paragraph to this Agreement. 

“Borrower Materials” has the meaning specified in Section 6.02. 

“Borrower Parties” means the collective reference to the Borrower and its Restricted Subsidiaries, and
“Borrower Party” means any one of them. 
 “Borrowing” means a Revolving Credit
Borrowing, a Swing Line Borrowing, or a Term B Borrowing, as the context may require. 
 “Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such
day relates to any Eurodollar Rate Loan, means any such day that is also a London Banking Day. 
 “Capital
Expenditures” means, as of any date for the applicable period then ended, all capital expenditures of the Borrower Parties on a consolidated basis for such period, as determined in accordance with GAAP. 

“Capitalized Leases” means all leases that have been or should be, in accordance with GAAP, recorded as
capitalized leases. 
 “Cash Collateral Account” means a blocked, non-interest bearing deposit account
at Bank of America (or another commercial bank selected in compliance with Section 6.19) in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner
satisfactory to the Administrative Agent. 
 “Cash Collateralize” means to pledge and deposit with or
deliver to the Administrative Agent, for the benefit of the Administrative Agent, L/C Issuer or Swing Line Lender (as applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans, or obligations of
Lenders to fund participations in respect of either thereof (as the context may require), cash or deposit account balances or, if the L/C Issuer or Swing Line Lender benefitting from such collateral shall agree in its sole discretion, other credit
support, in each case pursuant to documentation in form and substance satisfactory to (a) the Administrative 

  
 11 

 Agent and (b) the L/C Issuer or the Swing Line Lender (as applicable). “Cash
Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 
 “Cash Equivalents” means any of the following types of Investments, to the extent owned by the Borrower or any of its Restricted Subsidiaries: 

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

(b) time deposits with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that
(i) (A) is a Lender or (B) is organized under the laws of the United States, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws of the United States,
any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated at least P-1 (or the then equivalent grade) by Moody’s or at least
“A-1” (or the then equivalent grade by S&P, and (iii) has combined capital and surplus of at least $250,000,000 (any such bank being an “Approved Domestic Bank”), in each case with maturities of not more
than three hundred and sixty (360) days from the date of acquisition thereof; 
 (c) commercial paper and
variable or fixed rate notes issued by an Approved Domestic Bank (or by the parent company thereof) or any variable rate note issued by, or guaranteed by a domestic corporation rated A-1 (or the equivalent thereof) or better by S&P or P-1 (or
the equivalent thereof) or better by Moody’s, in each case with maturities of not more than three hundred and sixty (360) days from the date of acquisition thereof; and 

(d) marketable short-term money market and similar funds (including such funds investing a portion of their assets in
municipal securities) having a rating of at least P-1 or A-1 from either Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another nationally
recognized statistical rating agency selected by the Borrower); 
 (e) repurchase agreements entered into by any
Person with a bank or trust company (including any of the Lenders) or recognized securities dealer having capital and surplus in excess of $250,000,000 for direct obligations issued by or fully guaranteed or insured by the United States government
or any agency or instrumentality of the United States in which such Person shall have a perfected first priority security interest (subject to no other Liens) and having, on the date of purchase thereof, a fair market value of at least 100% of the
amount of the repurchase obligations; and 
 (f) Investments, classified in accordance with GAAP as Current
Assets of the Borrower or any of its Restricted Subsidiaries, in money market investment programs 

  
 12 

 
registered under the Investment Company Act of 1940, which are administered by financial institutions having capital of at least $250,000,000, and the portfolios of which are limited such that at
least 95% of such investments are of the character, quality and maturity described in clauses (a), through (e) of this definition; 
 (g) investment funds investing at least 95% of their assets in securities of the types (including as to credit quality and maturity) described in clauses (a) through (f) above; and 

(h) solely with respect to any Restricted Subsidiary that is a Foreign Subsidiary, (x) such local currencies in those
countries in which such Foreign Subsidiary transacts business from time to time in the ordinary course of business and (y) investments of comparable tenor and credit quality to those described in the foregoing clauses (a) through
(g) customarily utilized in countries in which such Foreign Subsidiary operates for short term cash management purposes. 

“Cash Management Agreement” means any agreement to provide cash management services, including treasury,
depository, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements to any Loan Party. 
 “Cash Management Bank” means any Person that (i) at the time it enters into a Cash Management Agreement, is a Lender or an Affiliate of a Lender, or (ii) is, as of the
Effective Date, a Lender or an Affiliate of a Lender and a party to a Cash Management Agreement, in each case, in its capacity as a party to such Cash Management Agreement. 
 “Casualty Event” means any event that gives rise to the receipt by Holdings, the Borrower or any of its Restricted Subsidiaries of any casualty insurance proceeds or condemnation
awards in respect of any equipment, fixed assets or real property (including any improvements thereon). 

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

“CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability Information System
maintained by the U.S. Environmental Protection Agency. 
 “Change of Control” means the earlier to
occur of (a) the Permitted Holders shall cease to have the power, directly or indirectly, to vote or direct the voting of securities having a majority of the ordinary voting power for the election of directors of Holdings; provided, that
the occurrence of the foregoing event shall not be deemed a Change of Control if, 
 (i) any time prior to the
consummation of a Qualifying IPO, and for any reason whatever, (A) the Permitted Holders otherwise have the right, directly of indirectly, to designate (and do so designate) a majority of the board of directors of Holdings or (B) the
Permitted Holders own, directly of indirectly, of record and beneficially an amount of common stock of Holdings equal to an amount that is more than fifty percent (50%) of the amount of common stock of Holdings owned, directly of indirectly, by
the Permitted Holders of record and beneficially as of the Closing Date and 

  
 13 

 
such ownership by the Permitted Holders represents the largest single block of voting securities of Holdings held by any Person or related group for purposes of Section 13(d) of the
Securities and Exchange Act of 1934, as amended, or 
 (ii) at any time after the consummation of a Qualifying
IPO, and for any reason whatsoever, (A) no “person” or “group” (as such terms are used in sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended, but excluding any employee benefit plan of Holdings
and its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan), excluding the Permitted Holders, shall be the “beneficial owner” (as defined in
Rules 13(d)-3 and 13(d)-5 under such Act), directly or indirectly, of more than the greater of (x) thirty-five percent (35%) of the outstanding voting stock of Holdings or (y) the percentage of the then outstanding voting stock
of Holdings owned, directly of indirectly, beneficially by the Permitted Holders, and (B) during any period of twelve (12) consecutive months, the board of directors of Holdings shall consist of a majority of the Continuing Directors; or

 (b) any “Change of Control” (or any comparable term) in any document pertaining to the Senior Notes, Permitted
Ratio Debt, Specified Refinancing Debt or Senior Secured Notes in each case with an aggregate outstanding principal amount in excess of the Threshold Amount; or 
 (c) the Borrower shall cease to be a wholly owned Subsidiary of Holdings. 

“Class” when used in reference to (a) any Revolving Credit Loan or Revolving Credit Borrowing, refers to
whether such Revolving Credit Loan, or the Revolving Credit Loans comprising such Revolving Credit Borrowing, are Extended Revolving Credit Loans or Non-Extended Revolving Credit Loans, (b) any Revolving Credit Commitment, refers to whether
such Revolving Credit Commitment is an Extended Revolving Credit Commitment or Non-Extending Revolving Commitment and (c) any Revolving Credit Lender, refers to whether such Revolving Credit Lender is an Extending Revolving Credit Lender or
Non-Extending Revolving Credit Lender. 
 “Closing Date” means June 29, 2010. 

“Co-Documentation Agents” means Barclays Bank, Cooperatieve Centrale Raiffeisen Boerenleenbank B.A.,
“Rabobank International”, New York Branch, ING Capital LLC, Northwest Farm Credit Services, PCA, and Suntrust Bank, as Co-Documentation Agents under the Loan Documents. 

“Code” means the U.S. Internal Revenue Code of 1986. 

“Collateral” means all of the “Collateral” referred to in the Collateral Documents and all of
the other property and assets that are or are required under the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the Secured Parties. 

  
 14 

 “Collateral Documents” means, collectively, the Security Agreement,
the Intellectual Property Security Agreement, the Mortgages, each of the mortgages, collateral assignments, Security Agreement Supplements, IP Security Agreement Supplements, security agreements, pledge agreements or other similar agreements
delivered to the Administrative Agent and the Lenders pursuant to Section 6.12, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Administrative Agent for the benefit of
the Secured Parties. 
 “Commitment” means a Term B Commitment or a Revolving Credit Commitment, as
the context may require. 
 “Commitments Increase Effective Date” has the meaning specified in
Section 2.14(b).
 “Committed Loan Notice” means a notice of (a) a Term B Borrowing,
(b) a Revolving Credit Borrowing, (c) a conversion of Loans from one Type to the other, or (d) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form
of Exhibit A. 
 “Compliance Certificate” means a certificate substantially in the form of
Exhibit D. 
 “Consolidated Cash Taxes” means, as of any date for the applicable period
ending on such date with respect to the Borrower Parties on a consolidated basis, the aggregate of all income, franchise and similar taxes, as determined in accordance with GAAP, to the extent the same are payable in cash with respect to such
period. 
 “Consolidated Current Assets” means, with respect to any Person and its Restricted
Subsidiaries on a consolidated basis, all assets that, in accordance with GAAP, would be classified as current assets on the consolidated balance sheet of such Person, after deducting appropriate and adequate reserves therefrom in each case in which
a reserve is proper in accordance with GAAP, but excluding cash, Cash Equivalents and Swap Contracts to the extent that the mark-to-market Swap Termination Value would be reflected as an asset on the consolidated balance sheet of such Person.

 “Consolidated Current Liabilities” means, with respect to any Person and its Restricted Subsidiaries
on a consolidated basis, all liabilities in accordance with GAAP that would be classified as current liabilities on the consolidated balance sheet of such Person, but excluding the current portion of Indebtedness (including the Swap Termination
Value of any Swap Contracts) to the extent reflected as a liability on the consolidated balance sheet of such Person. 

“Consolidated EBITDA” means, as of any date for the applicable period ending on such date with respect to any
Person and its Restricted Subsidiaries on a consolidated basis, the sum of (a) Consolidated Net Income, plus (b) an amount which, in the determination of Consolidated Net Income for such period, has been deducted for, without
duplication, 

  
 15 

	 	(i)	total interest expense determined in accordance with GAAP (including, to the extent deducted and not added back in computing Consolidated Net Income,
(a) amortization of original issue discount resulting from the issuance of Indebtedness at less than par, (b) all commissions, discounts and other fees and charges owed with respect to letters of credit or bankers’ acceptances,
(c) non-cash interest payments, (d) the interest component of Capitalized Leases, (e) net payments, if any, made (less net payments, if any, received) pursuant to interest rate Swap Contracts with respect to Indebtedness,
(f) amortization of deferred financing fees, debt issuance costs, commissions, fees and expenses, and (g) any expensing of bridge, commitment and other financing fees) and, to the extent not reflected in such total interest expense, any
losses on hedging obligations or other derivative instruments entered into for the purpose of hedging interest rate risk, net of interest income and gains on such hedging obligations, 

 

	 	(ii)	provision for taxes based on income, profits or capital of the Borrower and the Restricted Subsidiaries, including, without limitation, federal, state, franchise and
similar taxes (such as Delaware franchise tax, Pennsylvania capital tax or Texas margin tax) and foreign withholding taxes paid or accrued during such period including penalties and interest related to such taxes or arising from any tax
examinations, 

  

	 	(iii)	depreciation and amortization expense (including amortization of intangible assets), 

 

	 	(iv)	letter of credit fees, 

  

	 	(v)	non-cash expenses resulting from any employee benefit or management compensation plan or the grant of stock and stock options to employees of Holdings, the Borrower or
any Restricted Subsidiary pursuant to a written plan or agreement or the treatment of such options under variable plan accounting, 

  

	 	(vi)	any non-cash compensation charge or expense, including any such charge or expense arising from the grants of stock appreciation or similar rights, stock options,
restricted stock or other rights or equity incentive programs, and any cash charges associated with the rollover, acceleration or payout of Equity Interests by management of the Borrower or any of its direct or indirect parents in connection with
the Transaction, 

  

	 	(vii)	any costs or expenses incurred pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock
subscription or shareholder agreement, to the extent that such costs or expenses are funded with cash proceeds contributed to the capital of Holdings or net cash proceeds of an issuance of Equity Interests of Holdings (other than Disqualified Equity
Interests), 

  
 16 

	 	(viii)	all extraordinary, non-recurring or unusual charges, 

  

	 	(ix)	non-cash amortization of financing costs of such Person and its Restricted Subsidiaries, 

 

	 	(x)	cash expenses incurred in connection with the Transaction, 

  

	 	(xi)	cash restructuring charges or reserves and business optimization expense, including any restructuring costs and integration costs incurred in connection with Permitted
Acquisitions after the Initial Borrowing Date, project start-up costs, costs related to the closure and/or consolidation of facilities, retention charges, contract termination costs, retention, recruiting, relocation, severance and signing bonuses
and expenses, transaction fees and expenses (including those in connection with, to the extent permitted hereunder, any Investment, any Debt Issuance, any Equity Issuance, any Disposition, or any Casualty Event, in each case, whether or not
consummated), future lease commitments, systems establishment costs, conversion costs and excess pension charges, consulting fees and any one-time expense relating to enhanced accounting function, or costs associated with becoming a public company
or any other costs incurred in connection with any of the foregoing; provided that the aggregate amount of add backs made pursuant to this clause (xi) when added to the aggregate amount of add backs made pursuant to clause (xxiii) below,
shall not exceed an amount equal to 10% of Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended prior to the determination date (without giving effect to any adjustments pursuant to this clause (xi) or
clause (xxiii) below); 

  

	 	(xii)	any losses (or minus any gains) realized upon the disposition of property outside of the ordinary course of business, 

 

	 	(xiii)	any expenses, charges or losses that are covered by indemnification or other reimbursement provisions in connection with any Investment, Permitted Acquisition or any
sale, conveyance, transfer or other disposition of assets permitted under this Agreement, to the extent actually reimbursed, or, so long as the Borrower has made a determination that reasonable evidence exists that such indemnification or
reimbursement will be made, and only to the extent that such amount is (A) not denied by the applicable indemnifying party or obligor in writing and (B) in fact indemnified or reimbursed within 365 days of such determination (with a
deduction in the applicable future period for any amount so added back to the extent not so indemnified or reimbursed within such 365 days), 

  

	 	(xiv)	 to the extent covered by insurance and actually reimbursed, or, so long as the Borrower has made a determination that there exists reasonable evidence
that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (A) not denied in writing by the 

  
 17 

	 	 
applicable insurer and (B) in fact reimbursed within 365 days of the date of such determination (with a deduction in the applicable future period for any amount so added back to the extent
not so reimbursed within such 365 days), expenses, charges or losses with respect to liability or casualty events or business interruption, 

  

	 	(xv)	management fees permitted under Section 7.08(d), 

  

	 	(xvi)	any non-cash purchase accounting adjustment and any step-ups with respect to re-valuing assets and liabilities in connection with the Transaction or any Investment
permitted under Section 7.02, 

  

	 	(xvii)	non-cash losses from Joint Ventures and non-cash minority interest reductions, 

 

	 	(xviii)	fees and expenses in connection with the exchange of the Senior Notes for registered notes with identical terms as contemplated by the Senior Notes Indenture or
exchanges or refinancings permitted by Section 7.14, 

  

	 	(xix)	expenses representing the implied principal component under Synthetic Lease Obligations, 

 

	 	(xx)	expenses in connection with payments made by any such Person or its Restricted Subsidiaries with respect to industrial revenue bond financings and Guarantees in respect
thereof, 

  

	 	(xxi)	losses from discontinued operations not to exceed $4,000,000 during any period of four (4) consecutive fiscal quarters, 

 

	 	(xxii)	other expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income which do not represent a cash item in such period or any future period,
and 

  

	 	(xxiii)	 the amount of net cost savings, operating expense reductions, other operating improvements and acquisition synergies projected by the Borrower in good
faith to be realized during such period (calculated on a pro forma basis as though such items had been realized on the first day of such period) as a result of actions taken or to be taken in connection with the Transaction or any acquisition or
disposition by the Borrower or any Restricted Subsidiary, net of the amount of actual benefits realized during such period that are otherwise included in the calculation of Consolidated EBITDA from such actions, provided that (A) a duly
completed certificate signed by a Responsible Officer of the Borrower shall be delivered to the Administrative Agent together with the Compliance Certificate required to be delivered pursuant to Section 6.02, certifying that
(x) such cost savings, operating expense reductions and synergies are reasonably expected and factually supportable as determined in good faith by the Borrower, and (y) such actions are to be taken within (I) in the case of any such
cost savings, 

  
 18 

	 	 
operating expense reductions and synergies in connection with the Transaction, 12 months after the Closing Date and (II) in all other cases, within 12 months after the consummation of the
acquisition or disposition, which is expected to result in such cost savings, expense reductions or synergies, (B) no cost savings, operating expense reductions and synergies shall be added pursuant to this clause (xxiii) to the extent
duplicative of any expenses or charges otherwise added to Consolidated EBITDA, whether through a pro forma adjustment or otherwise, for such period, (C) to the extent that any cost savings, operating expense reductions and
synergies are not associated with the Transaction, all steps shall have been taken for realizing such savings, (D) projected amounts (and not yet realized) may no longer be added in calculating Consolidated EBITDA pursuant to this
clause (xxiii) to the extent occurring more than four full fiscal quarters after the specified action taken in order to realize such projected cost savings, operating expense reductions and synergies and (E) the aggregate amount of add
backs made pursuant to this clause (xxiii), when added to the aggregate amount of add backs made pursuant to clause (xi) above, shall not exceed an amount equal to 10% of Consolidated EBITDA for the period of four consecutive fiscal
quarters most recently ended prior to the determination date (without giving effect to any adjustments pursuant to this clause (xxiii) or clause (xi) above), minus 

 

	 	(c)	an amount which, in the determination of Consolidated Net Income, has been included for 

(i) all extraordinary, non-recurring or unusual gains and non-cash income during such period, and 

(ii) any gains realized upon the disposition of property outside of the ordinary course of business, plus/minus 

  

	 	(d)	unrealized losses/gains in respect of Swap Contracts, all as determined in accordance with GAAP, minus 

 

	 	(e)	the amount of Restricted Payments made in reliance on Sections 7.06(e)(i), 7.06(e)(ii), 7.06(e)(vii) or 7.06(i) (except to the extent
that (x) the amount paid with such Restricted Payments by Holdings would not, if the respective expense or other item had been incurred directly by the Borrower, have reduced Consolidated EBITDA determined in accordance with this definition or
(y) such Restricted Payment is paid by the Borrower in respect of an expense or other item that has resulted in, or will result in, a reduction of Consolidated EBITDA, as calculated pursuant to this definition). 

Notwithstanding anything to the contrary, to the extent included in Consolidated Net Income, there shall be excluded in determining Consolidated EBITDA
for any period any income (loss) for such period attributable to the early extinguishment of (i) Indebtedness, (ii) obligations under 

  
 19 

 
any Swap Contracts or (iii) other derivative instruments; and Consolidated EBITDA shall be deemed to be $56,500,000 for the fiscal quarter ended April 3, 2010. 

“Consolidated Funded Indebtedness” means all Indebtedness of a Person and its Restricted Subsidiaries on a
consolidated basis, in an amount that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP (but (x) excluding the effects of any discounting of Indebtedness resulting from the
application of purchase accounting in connection with the Transaction or any Permitted Acquisition and (y) any Indebtedness that is issued at a discount to its initial principal amount shall be calculated based on the entire principal amount
thereof), excluding (i) net obligations under any Swap Contract, (ii) any earn-out obligation until such obligation becomes a liability on the balance sheet of the applicable Person, (iii) any deferred compensation arrangements, or
(iv) any non-compete or consulting obligations incurred in connection with Permitted Acquisitions, (v) obligations in respect of letters of credit (including Letters of Credit), except to the extent of unreimbursed amounts thereunder;
provided that any unreimbursed amount under commercial letters of credit shall not be counted as Consolidated Funded Indebtedness until 3 Business Days after such amount is drawn. The amount of Consolidated Funded Indebtedness for which
recourse is limited either to a specified amount or to an identified asset of such Person shall be deemed to be equal to such specified amount (or, if less, the fair market value of such identified asset). 

“Consolidated Funded Senior Secured Indebtedness” means Consolidated Funded Indebtedness that is secured by a
Lien on assets of the Borrower or any Restricted Subsidiary, provided that such Consolidated Funded Indebtedness is not subordinated in right of payment to the Obligations. 
 “Consolidated Interest Charges” means, as of any date for the applicable period ending on such date with respect to any Person and its Restricted Subsidiaries on a consolidated
basis, interest expense (including the amortization of debt discount and premium, the interest component under Capitalized Leases and the implied interest component under Synthetic Lease Obligations, but excluding, to the extent included in interest
expense, (i) fees and expenses associated with the consummation of the Transaction, (ii) annual agency fees paid to the Administrative Agent, (iii) costs associated with obtaining Swap Contracts and (iv) fees and expenses
associated with any Investment permitted under Section 7.02, Equity Issuance or Debt Issuance (whether or not consummated)), as determined in accordance with GAAP, to the extent the same are payable in cash with respect to such period.

 “Consolidated Net Income” means, as of any date for the applicable period ending on such date with
respect to any Person and its Restricted Subsidiaries on a consolidated basis, net income (excluding, without duplication, (i) extraordinary items, (ii) any amounts attributable to Investments in any Unrestricted Subsidiary or Joint
Venture to the extent that either (x) such amounts have not been distributed in cash to such Person and its Restricted Subsidiaries during the applicable period, (y) such amounts were not earned by such Unrestricted Subsidiary or Joint
Venture during the applicable period or (z) there exists in respect of any future period any encumbrance or restriction on the ability of such Unrestricted Subsidiary or Joint Venture to pay dividends or make any other distributions in cash on
the Equity Interests of such Unrestricted Subsidiary or Joint Venture held by such Person and its Restricted Subsidiaries and (iii) the cumulative effect of foreign currency translations during such period to the extent

  
 20 

 
included in Consolidated Net Income, (iv) the income (or loss) of any Person accrued prior to the date it becomes a Restricted Subsidiary of the Borrower or is merged into or consolidated
with the Borrower or any of its Restricted Subsidiaries (except to the extent required for any calculation of Consolidated EBITDA on a Pro Forma Basis) and (v) net income of any Restricted Subsidiary (other than a Loan Party) for any period to
the extent that, during such period (or, for purposes of calculating Cumulative Credit, either during such period or in respect of any future period), there exists any encumbrance or restriction on the ability of such Restricted Subsidiary to pay
dividends or make any other distributions in cash on the Equity Interests of such Restricted Subsidiary held by such Person and its Restricted Subsidiaries, except to the extent that such net income is distributed in cash during such period to such
Person or to a Restricted Subsidiary of such Person that is not itself subject to any such encumbrance or restriction) as determined in accordance with GAAP. 
 “Consolidated Parties” means the collective reference to Holdings and its Restricted Subsidiaries, and “Consolidated Party” means any one of them.

 “Consolidated Scheduled Funded Debt Payments” means, as of any date for the applicable period ending
on such date with respect to the Borrower Parties on a consolidated basis, the sum of all scheduled payments of principal during such period on Consolidated Funded Indebtedness that constitutes Funded Debt (including the implied principal component
of payments due on Capitalized Leases and Synthetic Lease Obligations during such period), less the reduction in such scheduled payments resulting from voluntary prepayments or mandatory prepayments required pursuant to Section 2.05, in
each case as applied pursuant to Section 2.05, as determined in accordance with GAAP. 
 “Continuing
Directors” shall mean the directors of Holdings on the Closing Date, and each other director, if, in each case, such other director’s nomination for election to the board of directors of Holdings is recommended by a majority of the
then Continuing Directors or such other director receives the vote of the Sponsor in his or her election by the stockholders of Holdings. 
 “Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a
party or by which it or any of its property is bound. 
 “Control” has the meaning specified in the
definition of “Affiliate.” 
 “Credit Extension” means each of the following: (a) a
Borrowing and (b) an L/C Credit Extension. 
 “Cumulative Credit” means, at any date, an amount,
not less than zero in the aggregate, determined on a cumulative basis equal to: 
 (a) the sum of the products obtained by
multiplying (i) the applicable Retained Percentage by (ii) Excess Cash Flow, in each case for each Excess Cash Flow Period in respect of which a Compliance Certificate has been delivered as required hereunder, plus 

(b) the sum of any Declined Amounts, plus 

  
 21 

 (c) in the event that Cumulative Credit has been reduced as a result of an Investment made
pursuant to Section 7.02(t) (any such Investment for purposes of this clause (c) being an “Original Investment” and the amount of any such reduction for purposes of this clause (c) being the
“Reduction Amount” in respect of such Investment) in connection with the designation of a Restricted Subsidiary as an Unrestricted Subsidiary, the acquisition of Equity Interests of an Unrestricted Subsidiary or the
acquisition of any minority Investments, an amount equal to the lesser of (A) the aggregate amount received by the Borrower or any Restricted Subsidiary of the Borrower in cash and Cash Equivalents from: (i) the sale (other than to the
Borrower or any such Restricted Subsidiary) of any such Equity Interests of an Unrestricted Subsidiary or any such minority Investments, or (ii) any dividend or other distribution by any such Unrestricted Subsidiary or received in respect of
any such minority Investments, or (iii) interest, returns of principal, repayments and similar payments by any such Unrestricted Subsidiary or received in respect of any such minority Investments, and (B) the Reduction Amount in respect of
such Original Investment; plus 
 (d) in the event that Cumulative Credit has been reduced as a result of an Investment
made pursuant to Section 7.02(t) in connection with the designation of a Restricted Subsidiary as an Unrestricted Subsidiary (any such designation being the “Original Designation” and the amount of any such
reduction for purposes of this clause (d) being the “Reduction Amount” in respect of such designation), in the event any such Unrestricted Subsidiary has been re-designated as a Restricted Subsidiary or has been merged,
consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Borrower or a Restricted Subsidiary, an amount equal to the lesser of (A) the fair market value of the Investments of the Borrower and
the Restricted Subsidiaries in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable) and (B) the Reduction Amount in respect of such Original
Designation, as such amount may be reduced from time to time to the extent that all or a portion of Cumulative Credit is applied to make Investments, Restricted Payments or prepayments of Junior Financing pursuant to Sections 7.02(t),
7.06(f) or 7.14(a)(i), respectively. 
 “Current Assets” means, with respect to any
Person, all assets of such Person that, in accordance with GAAP, would be classified as current assets on the balance sheet of a company conducting a business the same as or similar to that of such Person, after deducting appropriate and adequate
reserves therefrom in each case in which a reserve is proper in accordance with GAAP. 
 “Declined
Amount” has the meaning specified in Section 2.05(c). 
 “Debt Fund Affiliate”
means (i) any Affiliate of Holdings that is a bona fide diversified debt fund (other than Goldman Sachs Asset Management, L.P., Goldman Sachs Investment Strategies, LLC, or any investment fund or separate account managed by either of them),
provided that the Sponsor does not, directly or indirectly, possess the power to direct or cause the direction of the investment policies of any such fund, and (ii) each of the GS Mezzanine Partners Family Of Funds and the GS Loan Partners
Family Of Funds. 

  
 22 

 “Debt Issuance” means the issuance by any Person and its Restricted
Subsidiaries of any Indebtedness for borrowed money. 
 “Debtor Relief Laws” means the Bankruptcy Code
of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other
applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 

“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any
notice, the passage of time, or both, would be an Event of Default. 
 “Default Rate” means an interest
rate equal to (a) the Base Rate plus (b) the Applicable Rate, if any, applicable to Base Rate Loans under the applicable Facility plus (c) 2.0% per annum; provided, however, that with respect to
a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2.0% per annum, in each case, to the fullest extent permitted by
applicable Laws. 
 “Defaulting Lender” means, subject to Section 2.18(b), any Lender that, as
determined by the Administrative Agent, (a) has failed to perform any of its funding obligations hereunder, including in respect of its Loans or participations in respect of Letters of Credit or Swing Line Loans within three Business Days of
the date required to be funded by it hereunder, (b) has notified the Borrower or the Administrative Agent that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding
obligations hereunder or under other agreements generally in which it commits to extend credit, (c) has failed, within three Business Days after reasonable request by the Administrative Agent, to confirm in a manner satisfactory to the
Administrative Agent that it will comply with its funding obligations, or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a custodian appointed for it, or (iii) taken any action in furtherance of, or indicated
its consent to, approval of or acquiescence in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or
indirect parent company thereof by a Governmental Authority. 
 “Discharged Existing
Notes” means the 8% Senior Subordinated Notes dues 2013 of Michael Foods, Inc. (“MFI”), a direct wholly-owned Subsidiary of the Borrower (the “MFI Notes”), and 9  3/4% Senior Discount Notes due 2013 of the Borrower (the
“MFH Notes”), in each case that remain outstanding on the Closing Date; provided, however, that no MFI Notes or MFH Notes shall constitute the Discharged Existing Notes unless: (a) the Borrower shall have
offered to purchase all outstanding MFI Notes and MFH Notes pursuant to an Offer to Purchase and Consent Solicitation (the “Offer to Purchase”) launched prior to the Closing Date, (b) on or prior to the Closing Date, the
Borrower purchased all MFI Notes and MFH Notes tendered in the Offer to Purchase and such tendered notes represented at least a majority of each of the MFI Notes and the MFH Notes, (c) as the result of the Offer to Purchase, all covenants

  
 23 

 
contained in the indentures governing the MFI Notes and the MFH Notes that could have been deleted with the consent of a majority of each of the MFI Notes and the MFH Notes have been deleted,
(d) on or prior to the Closing Date, the Borrower has delivered to the trustee under the MFI Notes and the MFH Notes irrevocable redemption notices with respect to all MFI Notes and all MFH Notes that remain outstanding after the consummation
of the Offer to Purchase, pursuant to which the Borrower is obligated to redeem all such MFI Notes and all such MFH Notes thirty days after the Closing Date, and (e) on or prior to the Closing Date, the indentures governing the MFI Notes and
the MFH Notes shall have been satisfied and discharged, and shall be of no effect as to the MFI Notes and the MFH Notes, as a result of the Borrower and MFI having complied with all requirements of section 12.01 of the indentures
governing the MFI Notes and the MFH Notes, including the irrevocable deposit with the trustees under such indentures of the trust funds required by such sections. For the avoidance of doubt, the outstanding principal amount of the Discharged
Existing Notes shall be deemed to be nil for all purposes hereunder. 
 “Disposition” or
“Dispose” means the sale, transfer, license, lease or other disposition of any property by any Person (including any sale and leaseback transaction and any issuance of Equity Interests by a Restricted Subsidiary of such
Person), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith; provided, however, that “Disposition” and
“Dispose” shall not be deemed to include any issuance by Holdings of any of its Equity Interests to another Person. 

“Disqualified Equity Interests” means any Equity Interest which, by its terms (or by the terms of any security or
other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a
sinking fund obligations or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in
full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeemable at the option of the holder thereof, in whole or in part, (c) provides for the scheduled payments of
dividends in cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is ninety one (91) days after
the Term B Maturity Date; provided that if such Equity Interests are issued pursuant to a plan for the benefit of employees of Holdings (or any direct or indirect parent thereof), the Borrower or the Restricted Subsidiaries or by any such plan to
such employees, such Equity Interests shall not constitute Disqualified Equity Interests solely because it may be required to be repurchased by the Borrower or if its Restricted Subsidiaries in order to satisfy applicable statutory or regulatory
obligations. 
 “Dollar” and “$” mean lawful money of the United States.

 “Domestic Subsidiary” means any Subsidiary that is organized under the laws of the United States, any
state thereof or the District of Columbia and any other Subsidiary that is not a “controlled foreign corporation” under Section 957 of the Code. 

  
 24 

 “Dutch Auction” means an auction (an
“Auction”) conducted by Holdings or one of its Subsidiaries in order to purchase Term B Loans or New Term Loans in accordance with the following procedures: 

(A) Notice Procedures. In connection with an Auction, the Borrower will provide notification to the Administrative
Agent (for distribution to the applicable Lenders) of the Loans that will be the subject of the Auction (an “Auction Notice”). Each Auction Notice shall be in a form reasonably acceptable to the Administrative Agent and shall
contain (i) the total cash value of the bid, in a minimum amount of $10,000,000 with minimum increments of $1,000,000 (the “Auction Amount”), and (ii) the discount to par, which shall be a range, (the
“Discount Range”) of percentages of the par principal amount of the Loans at issue that represents the range of purchase prices that could be paid in the Auction. 

(B) Reply Procedures. In connection with any Auction, each applicable Lender may, in its sole discretion,
participate in such Auction and may provide the Agent with a notice of participation (the “Return Bid”) which shall be in a form reasonably acceptable to the Administrative Agent and shall specify (i) a discount to par
that must be expressed as a price (the “Reply Discount”), which must be within the Discount Range, and (ii) a principal amount of the applicable Loans which must be in increments of $1,000,000 (the “Reply
Amount”). A Lender may avoid the minimum increment amount condition solely when submitting a Reply Amount equal to the Lender’s entire remaining amount of such Loans. Lenders may only submit one Return Bid per Auction but each
Return Bid may contain up to three bids only one of which can result in a Qualifying Bid (as defined below). In addition to the Return Bid, the participating Lender must execute and deliver, to be held in escrow by the Administrative Agent, a form
of assignment and acceptance (the “Form of Assignment and Acceptance”) in a form reasonably acceptable to the Administrative Agent. 
 (C) Acceptance Procedures. Based on the Reply Discounts and Reply Amounts received by the Administrative Agent, the Administrative Agent, in consultation with the Borrower, will determine the
applicable discount (the “Applicable Discount”) for the Auction, which will be the lowest Reply Discount for which Holdings or its Subsidiary, as applicable, can complete the Auction at the Auction Amount; provided that, in
the event that the Reply Amounts are insufficient to allow Holdings or its Subsidiary, as applicable, to complete a purchase of the entire Auction Amount (any such Auction, a “Failed Auction”), Holdings or its Subsidiary
shall either, at its election, (i) withdraw the Auction or (ii) complete the Auction at an Applicable Discount equal to the highest Reply Discount. Holdings or its Subsidiary, as applicable, shall purchase Loans (or the respective portions
thereof) from each applicable Lender with a Reply Discount that is equal to or greater than the Applicable Discount (“Qualifying Bids”) at the Applicable Discount; provided that if the aggregate proceeds required to purchase
all Loans subject to Qualifying Bids would exceed the Auction Amount for such Auction, Holdings or its Subsidiary, as applicable, shall purchase such Loans at the Applicable Discount ratably based on the principal amounts of such Qualifying Bids
(subject to rounding requirements specified by the Administrative Agent). If a Lender has submitted a Return Bid containing multiple bids at different Reply Discounts, only the bid with the 

  
 25 

 
highest Reply Discount that is equal to or greater than the Applicable Discount will be deemed the Qualifying Bid of such Lender. Each participating Lender will receive notice of a Qualifying Bid
as soon as reasonably practicable but in no case later than five Business Days from the date the Return Bid was due. 
 (D) Additional Procedures. Once initiated by an Auction Notice, Holdings or its Subsidiary, as applicable, may not withdraw an Auction other than a Failed Auction. Furthermore, in connection with
any Auction, upon submission by a Lender of a Qualifying Bid, such Lender (each, a “Qualifying Lender”) will be obligated to sell the entirety or its allocable portion of the Reply Amount, as the case may be, at the
Applicable Discount. 
 “Effective Date” means the first date on which all of the conditions precedent
in Section 4.01 are satisfied or waived in accordance with Section 10.01. 
 “Effective Date
Assignee” has the meaning set forth in Section 2.01(c)(ii)(A). 
 “Effective Date
Assignor” has the meaning set forth in Section 2.01(c)(ii)(A). 
 “Egg Products Inspection
Act” means the Egg Products Inspection Act, 21 U.S.C. § 1031, et seq., and its implementing regulations. 
 “Eligible Assignee” means any Person that meets the requirements to be an assignee under Section 10.07(b)(iii), (v) and (vi) (subject to such
consents, if any, as may be required under Section 10.07(b)(iii)). 
 “Environmental Laws”
means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, or governmental restrictions relating to pollution and the
protection of the environment or the release of, or exposure to, any Hazardous Materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages,
costs of environmental remediation, fines, penalties or indemnities), of the Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law,
(b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the
environment or (e) any contract, agreement or other binding consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
 “Environmental Permit” means any permit, approval, identification number, license or other authorization required under any Environmental Law. 

“Equity Contribution” has the meaning given to such term in the definition of the “Transaction.”

  
 26 

 “Equity Interests” means, with respect to any Person, all of the
shares, interests, rights, participations or other equivalents (however designated) of capital stock of (or other ownership or profit interests or units in) such Person and all of the warrants, options or other rights for the purchase, acquisition
or exchange from such Person of any of the foregoing (including through convertible securities). 
 “Equity
Issuance” means any issuance for cash by any Person to any other Person of (a) its Equity Interests, (b) any of its Equity Interests pursuant to the exercise of options or warrants, (c) any of its Equity Interests
pursuant to the conversion of any debt securities to equity or (d) any options or warrants relating to its Equity Interests. 
 “ERISA” means the Employee Retirement Income Security Act of 1974. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with any Loan Party within the meaning of Section 414(b) or (c) of the
Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of any
Loan Party or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations
that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by any Loan Party or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization;
(d) the filing of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination under Sections 4041 or 4041A of ERISA, (e) the institution by the PBGC of proceedings to terminate a Pension Plan or
Multiemployer Plan; (f) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; (g) the determination
that any Pension Plan is considered an at-risk plan or a plan in endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; (h) the imposition of any liability
under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Loan Party or any ERISA Affiliate; or (i) the conditions for the imposition of a lien under Section 430(k) of the Code
or Section 303(k) of ERISA shall have been met with respect to any Pension Plan. 
 “Eurodollar
Rate” means: 
 (a) for any Interest Period with respect to a Eurodollar Rate Loan, a rate per annum determined by
the Administrative Agent pursuant to the following formula: 
  

					
	 Eurodollar Rate  =  
	 	                    Eurodollar Base Rate 
                   	 	
	 	1.00 – Eurodollar Reserve Percentage	 	 

 where, 

  
 27 

 “Eurodollar Base Rate” means, for such interest period, the rate per
annum equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or such other commercially available source providing quotations of BBA LIBOR as may be designated by the
Administrative Agent from time to time) at approximately 11:00 a.m., London time, two London Banking Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term
equivalent to such Interest Period or, (ii) if such rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such
Interest Period in same day funds in the approximate amount of the Eurodollar Rate Loan being made, continued or converted and with a term equivalent to such Interest Period would be offered by Bank of America’s London Branch to major banks in
the London interbank eurodollar market at their request at approximately 11:00 a.m. (London time) two London Banking Days prior to the commencement of such Interest Period; and 

(b) for any interest calculation with respect to a Base Rate Loan on any date, a rate per annum determined by the Administrative Agent
pursuant to the following formula: 
  

					
	 Eurodollar Rate  =  
	 	                    Eurodollar Base Rate 
                    	 	
	 	1.00 – Eurodollar Reserve Percentage	 	 

 where, 

“Eurodollar Base Rate” means the rate per annum equal to (i) BBA LIBOR, as published by Reuters (or such
other commercially available source providing quotations of BBA LIBOR as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two London Banking Days prior to such date, for Dollar deposits with
a term of one month commencing on that day or, (ii) if such rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the date of
determination in same day funds in the approximate amount of the Base Rate Loan being made or maintained and with a term equal to one month would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar
market at their request at the date and time of determination. 
 “Eurodollar Rate Loan” means a Loan
that bears interest at a rate based on clause (a) of the definition of “Eurodollar Rate.” 

“Eurodollar Reserve Percentage” means, for any day during any Interest Period, the reserve percentage (expressed
as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency,
supplemental, marginal or other reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurodollar Rate for each outstanding Loan the interest on which is determined by reference
to the Eurodollar Rate shall be adjusted automatically as of the effective date of any change in the Eurodollar Reserve Percentage. 

  
 28 

 “Event of Default” has the meaning specified in
Section 8.01. 
 “Excess Cash Flow” means, with respect to any Excess Cash Flow Period, an
amount equal to (a) Consolidated Net Income of the Borrower Parties minus (b) without duplication (in each case, for the Borrower and its Restricted Subsidiaries on a consolidated basis), 

 

	 	(i)	Capital Expenditures, 

  

	 	(ii)	Consolidated Scheduled Funded Debt Payments and, to the extent not otherwise deducted from Consolidated Net Income, Consolidated Cash Taxes, 

 

	 	(iii)	Restricted Payments made by the Borrower Parties to the extent that such Restricted Payments are permitted to be made under Section 7.06(e) or (i),
solely to the extent made, directly or indirectly, with the proceeds from events or circumstances that were included in the calculation of Consolidated Net Income and excluding any Restricted Payments made using the Cumulative Credit,

  

	 	(iv)	the aggregate amount of mandatory permanent principal payments or mandatory repurchases of Indebtedness for borrowed money of the Borrower Parties (excluding the
Obligations and the Revolving Credit Commitments); provided, that (A) such prepayments or repurchases are otherwise permitted hereunder, (B) if such Indebtedness consists of a revolving line of credit, the commitments under such
line of credit are permanently reduced by the amount of such prepayment or repurchase, and (C) such prepayments or repurchases are not made, directly or indirectly, using (1) proceeds, payments or any other amounts available from events or
circumstances that were not included in determining Consolidated Net Income during such period or (2) the Cumulative Credit, 

  

	 	(v)	cash payments made in satisfaction of non-current liabilities (excluding payments of Indebtedness for borrowed money) not made directly or indirectly using
(1) proceeds, payments or any other amounts available from events or circumstances that were not included in determining Consolidated Net Income during such period or (2) the Cumulative Credit, 

 

	 	(vi)	to the extent not deducted in arriving at Consolidated Net Income, cash expenses incurred in connection with the Transaction or, to the extent permitted hereunder, any
Investment permitted under Section 7.02, Equity Issuance or Debt Issuance, 

  

	 	(vii)	cash payments with respect to preferred customer contracts in excess of amortization with respect to preferred customer contracts, 

 

	 	(viii)	 cash from operations used or to be used to consummate a Permitted Acquisition (if such Permitted Acquisition has been consummated, or

  
 29 

	 	committed to be consummated, prior to the date on which a prepayment of Loans would be required pursuant to Section 2.05(b)(i) with respect to such fiscal
year period); provided, however, that if any amount is deducted from Excess Cash Flow pursuant to this clause (viii) with respect to a fiscal year as a result of a Permitted Acquisition that has been committed to be consummated
but not yet actually consummated at the time of such deduction (the amount of such cash being the “Relevant Deduction Amount”) then (A) for the avoidance of doubt, no amount shall be deducted from Excess Cash Flow
pursuant to this clause (viii) as a result of such Permitted Acquisition being actually consummated for the Relevant Deduction Amount, and (B) if such Permitted Acquisition is not actually consummated for the Relevant Deduction Amount
prior to the date on which a prepayment of Loans would be required pursuant to Section 2.05(b)(i) with respect to the immediately following fiscal year period, then such Relevant Deduction Amount shall be included in Excess Cash Flow for
such immediately following fiscal year period, 

  

	 	(ix)	net non-cash gains and credits to the extent included in arriving at Consolidated Net Income, plus 

(c) net non-cash charges and losses to the extent deducted in arriving at Consolidated Net Income; plus/minus 

(d) decreases/increases, as applicable, in Net Working Capital. 

“Excess Cash Flow Period” means any fiscal year of the Borrower, commencing with the fiscal year ended on or
about December 31, 2011. 
 “Excluded Subsidiary” means any Subsidiary (a) that is (i) a
Foreign Subsidiary, (ii) an Unrestricted Subsidiary, (iii) an Immaterial Subsidiary, (iv) prohibited by applicable law or regulation from granting a Subsidiary Guaranty or that would require a governmental (including regulatory)
consent, approval, license or authorization in order to grant such Subsidiary Guaranty, (v) a direct or indirect Domestic Subsidiary and is treated as a disregarded entity for United States federal income tax purposes if substantially all of
its assets consist of Equity Interests of one or more direct or indirect Foreign Subsidiaries, (vi) a not-for-profit Subsidiary, or (vii) not wholly owned directly by the Borrower or one or more of its wholly owned Restricted Subsidiaries,
or (b) to the extent that the burden or cost of obtaining a Subsidiary Guaranty therefrom outweighs the benefit afforded thereby (as reasonably determined by the Administrative Agent and the Borrower). 

“Existing Administrative Agent” means the “Administrative Agent” under the Existing Credit Agreement
immediately prior to the effectiveness of this Agreement. 
 “Existing Credit Agreement” has the meaning
set forth in the Preliminary Statements hereto. 

  
 30 

 “Existing Letters of Credit” means all “Letters of Credit”
under the Existing Credit Agreement issued and outstanding immediately prior to the effectiveness of this Agreement. 

“Existing Revolving Credit Commitment” means a “Revolving Credit Commitment” under the Existing Credit
Agreement immediately prior to the effectiveness of this Agreement. 
 “Existing Revolving Credit
Lender” means a “Revolving Credit Lender” under the Existing Credit Agreement immediately prior to the effectiveness of this Agreement. 
 “Existing Revolving Credit Loan” means a “Revolving Credit Loan” under the Existing Credit Agreement outstanding immediately prior to the effectiveness of this Agreement.

 “Existing Term B Lender” means a “Term B Lender” under the Existing Credit Agreement
immediately prior to the effectiveness of this Agreement. 
 “Existing Term B Loan” means a “Term B
Loan” under the Existing Credit Agreement outstanding immediately prior to the effectiveness of this Agreement. 

“Extended Revolver Maturity Date” means, with respect to the Extended Revolving Credit Facility, the earlier of
(a) February 25, 2016 and (b) the date of termination in whole of the Extended Revolving Credit Commitments, the Letter of Credit Commitments, and the Swing Line Commitments pursuant to Section 2.06(a)
or 8.02. 
 “Extended Revolving Credit Borrowing” means a borrowing consisting of
simultaneous Extended Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Extending Revolving Credit Lenders pursuant to Section 2.01(c). 

“Extended Revolving Credit Commitment” means, as to each Extending Revolving Credit Lender, its obligation to
(a) make Extended Revolving Credit Loans to the Borrower pursuant to Section 2.01(c), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at
any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Extended Revolving Credit Commitment” or in the Assignment and Assumption pursuant to which such
Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate Commitment of all Extending Revolving Credit Lenders shall be $57,500,000 on the Effective Date, as such
amount may be adjusted from time to time in accordance with the terms of this Agreement. 
 “Extended Revolving
Credit Facility” means, at any time, the aggregate amount of the Extending Revolving Credit Lenders’ Extended Revolving Credit Commitments at such time. 
 “Extended Revolving Credit Loan” has the meaning specified in Section 2.01(c). 

  
 31 

 “Extending Revolving Credit Lender” means, at any time, any Lender
that has an Extended Revolving Credit Commitment at such time. 
 “Extending Term B Lender” means an
Existing Term B Lender that provides a Term B Commitment on the Effective Date; provided that, solely for purposes of Section 2.01(b)(ii)(E), “Extending Term B Lender” shall include any Existing Term B Lender that
becomes a Term B Lender within 30 days of the Effective Date. 
 “Facility” means the Term B Facility,
each New Term Facility, the Revolving Credit Facility, the Swing Line Sublimit or the Letter of Credit Sublimit, as the context may require. 
 “Family Of Funds” means any primary investment vehicle together with all its alternative investment vehicles, special purpose vehicles, blockers and conduits through which it
routes funds and/or makes investments. 
 “FATCA” has the meaning specified in
Section 3.01(a). 
 “Federal Funds Rate” means, for any day, the rate per annum equal
to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next
succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day,
and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such
day on such transactions as determined by the Administrative Agent. 
 “Fee Letter” means, collectively,
the Amended and Restated Fee Letter, dated May 26, 2010, among Holdings, MLPFS, GSLP and Barclays Bank and the Fee Letter, dated February 15, 2011, among the Borrower, Merrill Lynch, Pierce, Fenner & Smith Incorporated, GSLP and
Barclays Bank. 
 “Food, Drug, and Cosmetic Act” means the Food, Drug, and Cosmetic Act, 21 U.S.C.
§ 301, et seq., and its implementing regulations. 
 “Food Industry Laws” means the Food
Security Act, the Food, Drug, and Cosmetic Act (21 U.S.C. § 321, et seq.), PACA, the Egg Products Inspection Act, the Minnesota Food Law (Minnesota Statutes, Ch. 31), the MWPDA, and all other applicable Federal, state and local laws
governing the production, packaging and distribution of food, and all applicable rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by
any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental
Authority, in each case whether or not having the force of law. 

  
 32 

 “Food Security Act” means the Food Security Act of 1985, and any
successor statute thereto, including all rules and regulations thereunder, all as the same may be in effect from time to time. 

“Foreign Lender” has the meaning specified in Section 10.15(a)(i). 

“Foreign Subsidiary” means any direct or indirect Subsidiary of the Borrower which is not a Domestic Subsidiary.

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

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

“Funded Debt” of any Person means Indebtedness of such Person that by its terms matures more than one
(1) year after the date of its creation or matures within one (1) year from any date of determination but is renewable or extendible, at the option of such Person, to a date more than one (1) year after such date or arises under a
revolving credit or similar agreement that obligates the lender or lenders to extend credit during a period of more than one (1) year after such date. 
 “GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American
Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are
applicable to the circumstances as of the date of determination, consistently applied. 
 “Gaylord Bond
Guaranty” means the Guarantee by the Borrower or one of its Restricted Subsidiaries of bonds in an aggregate principal amount of $1,985,000 issued by the City of Gaylord, Minnesota pursuant to the Contract for Development by and among
the Borrower, certain of its Subsidiaries, the City of Gaylord, Minnesota and the Housing and Redevelopment Authority of Gaylord Minnesota, dated July 22, 1992. 
 “Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court,

  
 33 

 
administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

 “Granting Lender” has the meaning specified in Section 10.07(g). 

“GSLP” means Goldman Sachs Lending Partners LLC and its successors. 

“Guarantee” means, as to any Person, without duplication, any (a) any obligation, contingent or otherwise,
of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or
indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation, (ii) to purchase or lease
property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance of such Indebtedness or other monetary obligation, (iii) to maintain working
capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary obligation, or (iv) entered
into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or
(b) any Lien on any assets of such Person securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or other monetary obligation is assumed by such Person (or any right, contingent or
otherwise, of any holder of such Indebtedness to obtain any such Lien); provided that the term “Guarantee” shall not include endorsements for collection or deposit, in either case in the ordinary course of business, or customary and
reasonable indemnity obligations in effect on the Effective Date or entered into in connection with any acquisition or Disposition of assets permitted under this Agreement (other than such obligations with respect to Indebtedness). The amount of any
Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably
anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guarantors” means, collectively, Holdings and the Subsidiaries of the Borrower listed on Schedule I and
each other Subsidiary of the Borrower that shall be required to execute and deliver a guaranty or guaranty supplement pursuant to Section 6.12. 
 “Guaranty” means, collectively, the Holdings Guaranty and the Subsidiary Guaranty. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos-containing materials, toxic mold, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated as “hazardous” or “toxic,” or as a
“pollutant” or a “contaminant,” pursuant to any Environmental Law. 

  
 34 

 “Hedge Bank” means any Person that (i) at the time it enters
into a Secured Hedge Agreement, is a Lender or an Affiliate of a Lender, or (ii) is, as of the Effective Date, a Lender or an Affiliate of a Lender and a party to a Secured Hedge Agreement, in each case, in its capacity as a party to such
Secured Hedge Agreement. 
 “Holdings” has the meaning specified in the introductory paragraph to this
Agreement. 
 “Holdings Guaranty” means the Holdings Guaranty made by Holdings in favor of the
Administrative Agent on behalf of the Secured Parties, substantially in the form of Exhibit F-1. 
 “Honor
Date” has the meaning specified in Section 2.03(c)(i). 
 “ICC” has the meaning
specified in Section 2.03(h). 
 “Immaterial Subsidiary” means each Restricted Subsidiary
designated as such by the Borrower to the Administrative Agent in writing that meets all of the following criteria as of the date of the most recent balance sheet required to be delivered pursuant to Section 6.01: (a) the assets of
such Restricted Subsidiary and its Restricted Subsidiaries (on a consolidated basis) as of such date do not exceed an amount equal to 2.5% of the consolidated assets of the Borrower and its Restricted Subsidiaries as of such date; and (b) the
revenues of such Restricted Subsidiary and its Restricted Subsidiaries (on a consolidated basis) for the fiscal quarter ending on such date do not exceed an amount equal to 2.5% of the consolidated revenues of the Borrower and its Restricted
Subsidiaries for such period; provided, however, that (x) the aggregate assets of all Immaterial Subsidiaries and their Restricted Subsidiaries (on a consolidated basis) as of such date may not exceed an amount equal to 5.0% of the consolidated
assets of the Borrower and its Restricted Subsidiaries as of such date; and (y) the aggregate revenues of all Immaterial Subsidiaries and their Restricted Subsidiaries (on a consolidated basis) for the fiscal quarter ending on such date may not
exceed an amount equal to 5.0% of the consolidated revenues of the Borrower and its Restricted Subsidiaries for such period. 

“Impositions” has the meaning set forth in Section 3.01(a). 

“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following, whether
or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations of such Person for
borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 
 (b) the maximum amount of all letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds, performance bonds and similar instruments issued or created by
or for the account of such Person; 
 (c) net obligations of such Person under any Swap Contract; 

  
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 (d) all obligations of such Person to pay the deferred purchase price of
property or services (other than (x) trade accounts payable in the ordinary course of business, (y) any earn-out obligation until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and
(z) expenses accrued in the ordinary course of business); 
 (e) indebtedness (excluding prepaid interest
thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements and mortgage, industrial revenue bond, industrial development bond and similar
financings), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 

(f) all Attributable Indebtedness; 

(g) all obligations of such Person in respect of Disqualified Equity Interests; and 

(h) all Guarantees of such Person in respect of any of the foregoing. 

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture
that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation under any Swap
Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of Indebtedness of any Person that is non-recourse to such Person, for purposes of clause (e), shall be deemed to be equal to the
lesser of (i) the aggregate unpaid amount of such Indebtedness and (ii) the fair market value of the property encumbered thereby as determined by such Person in good faith. 

“Indemnified Liabilities” has the meaning set forth in Section 10.05. 

“Indemnitees” has the meaning set forth in Section 10.05. 

“Information” has the meaning specified in Section 10.08. 

“Initial Lenders” means Bank of America, GSLP and Barclays Bank. 

“Initial Revolver Maturity Date” means, with respect to the Non-Extended Revolving Credit Facility, the earlier
of (a) June 29, 2015 and (b) the date of termination in whole of the Non-Extended Revolving Credit Commitments, the Letter of Credit Commitments, and the Swing Line Commitments pursuant to Section 2.06(a)
or 8.02. 
 “Intellectual Property Security Agreement” means, collectively, the intellectual
property security agreement, substantially in the form of Exhibit I hereto together with each intellectual property security agreement supplement executed and delivered pursuant to Section 6.12. 

  
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 “Interest Coverage Ratio” means, with respect to the Borrower
Parties on a consolidated basis, as of the end of any fiscal quarter of the Borrower for the four (4) fiscal quarter period ending on such date with respect to the Borrower Parties on a consolidated basis, the ratio of (a) Consolidated
EBITDA of the Borrower Parties to (b) the Consolidated Interest Charges of the Borrower Parties; provided, that when calculating the Interest Coverage Ratio, the Consolidated Interest Charges shall be equal to (i) for the
period ending on or about December 31, 2010, the Consolidated Interest Charges of the Borrower Parties for the two fiscal quarters ending on or about December 31, 2010, multiplied by two; and (ii) for the period ending on or about
March 31, 2011, the Consolidated Interest Charges of the Borrower Parties for the three fiscal quarters ending on or about March 31, 2011, multiplied by four-thirds. 
 “Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date of the
Facility under which such Loan was made; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period
shall also be Interest Payment Dates; and (b) as to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each March, June, September and December and the Maturity Date of the Facility under which such Loan was made.

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

 (b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there
is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; 

(c) no Interest Period shall extend beyond the Maturity Date of the Facility under which such Loan was made; and

 (d) prior to the Initial Revolver Maturity Date, the Interest Period applicable to any Revolving Credit Loans
shall not extend beyond the Initial Revolver Maturity Date. 
 “Investment” means, as to any Person, any
direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests or debt or other securities of another Person, (b) a loan, advance or capital contribution to,
Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture 

  
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interest in such other Person and any arrangement pursuant to which the investor incurs debt of the type referred to in clause (h) of the definition of “Indebtedness” set
forth in this Section 1.01 in respect of such Person, (c) the purchase or other acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another Person or
assets constituting a business unit, line of business or division of such Person, or (d) the Disposition of any property for less than the fair market value thereof (other than Dispositions under Sections 7.05(e),
(h) and (j)). For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. 

“Investors” has the meaning given to such term in the definition of the “Transaction.” 

“IP Rights” has the meaning set forth in Section 5.17. 

“IP Security Agreement Supplement” has the meaning specified in the Security Agreement. 

“IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published
by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 
 “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the applicable L/C
Issuer and the Borrower (or any applicable Restricted Subsidiary) or in favor of such L/C Issuer and relating to such Letter of Credit. 
 “Joint Venture” means (a) any Person which would constitute an “equity method investee” of the Borrower or any of its Subsidiaries, and (b) any Person in whom
the Borrower or any of its Subsidiaries beneficially owns any Equity Interest that is not a Subsidiary. 
 “Junior
Financing” has the meaning specified in Section 7.14. 
 “Junior Financing
Documentation” means the Senior Notes, the Senior Notes Indenture, and any documentation governing any other Junior Financing. 
 “Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law, including all Food Industry Laws. 

  
 38 

 “L/C Advance” means, with respect to each Revolving Credit Lender,
such Lender’s funding of its participation in any L/C Borrowing in accordance with its Pro Rata Share. 
 “L/C
Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing. 

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the
expiry date thereof, or the renewal or increase of the amount thereof. 
 “L/C Issuer” means Bank of
America and each other Lender reasonably acceptable to the Borrower and the Administrative Agent that agrees to issue Letters of Credit pursuant hereto, in each case in its capacity as an issuer of Letters of Credit hereunder, or any successor
issuer of Letters of Credit hereunder. 
 “L/C Obligations” means, as at any date of determination, the
aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of
Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.09. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be
drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Lender” has the meaning specified in the introductory paragraph to this Agreement and, as the context requires,
includes each L/C Issuer and the Swing Line Lender. 
 “Lending Office” means, as to any Lender, the
office or offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent. 

“Lenox Bond Guaranty” means the Guarantee by a Restricted Subsidiary of the Borrower of bonds in an aggregate
principal amount of $5,395,000 issued pursuant to the Wastewater Discharge and Treatment Agreement by and among M.G. Waldbaum, a Subsidiary of the Borrower, and the City of Lenox, Iowa, dated June 8, 1998 (as amended). 

“Letter of Credit” means any letter of credit issued hereunder and shall include the Existing Letters of Credit.
A Letter of Credit may be a commercial letter of credit or a standby letter of credit. 
 “Letter of Credit
Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the applicable L/C Issuer. 

“Letter of Credit Expiration Date” means the day that is five (5) Business Days prior to the scheduled
Extended Revolver Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day). 

  
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 “Letter of Credit Sublimit” means an amount equal to $15,000,000.
The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Credit Facility. 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory
or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on
title to real property, and any Capitalized Lease having substantially the same economic effect as any of the foregoing). 

“Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Term B
Loan, a New Term Loan, a Revolving Credit Loan or a Swing Line Loan. 
 “Loan Documents” means,
collectively, (a) for purposes of this Agreement and the Notes and any amendment, supplement or other modification hereof or thereof and for all other purposes other than for purposes of the Guaranty and the Collateral Documents, (i) this
Agreement, (ii) the Notes, (iii) the Guaranty, (iv) the Collateral Documents, (v) the Fee Letter, (vi) each Letter of Credit Application, and (vii) any agreement creating or perfecting rights in Cash Collateral pursuant
to the provisions of Section 2.17 of this Agreement and (b) for purposes of the Guaranty and the Collateral Documents, (i) this Agreement, (ii) the Notes, (iii) the Guaranty, (iv) the Collateral Documents, (v) each
Letter of Credit Application, (vi) the Fee Letter, (vii) each Secured Cash Management Agreement, and (viii) each Secured Hedge Agreement. 
 “Loan Parties” means, collectively, the Borrower and each Guarantor. 
 “London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market. 

“Master Agreement” has the meaning specified in the definition of “Swap Contract”. 

“Material Adverse Effect” means (a) a material adverse effect on the business, operations, assets,
liabilities (actual or contingent) or financial condition of the Borrower and its Restricted Subsidiaries, taken as a whole, (b) a material adverse effect on the ability of the Loan Parties (taken as a whole) to perform their respective payment
obligations under any Loan Document to which the Borrower or any of the Loan Parties is a party or (c) a material adverse effect on the rights and remedies of the Lenders under any Loan Document. 

“Material Real Property” means any parcel of real property (other than a parcel with a fair market value of less
than $2,000,000) owned in fee by the Borrower or a Subsidiary that is not an Excluded Subsidiary. 
 “Maturity
Date” means: (a) with respect to the Non-Extended Revolving Credit Facility, the Initial Revolver Maturity Date; (b) with respect to the Extended Revolving Credit Facility and the Swing Line Facility, the Extended Revolver
Maturity Date; and (c) with respect to the Term B Facility, the Term B Maturity Date. 

  
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 “Maximum Rate” has the meaning specified in
Section 10.10. 
 “Maximum Senior Secured Leverage Ratio” means the requirement that the
Total Senior Secured Leverage Ratio be 4.00:1.0 or less. 
 “Merger Agreement” means the Agreement and
Plan of Merger, dated as of May 20, 2010, among the Borrower, Merger Sub, Holdings and Michael Foods Investors, LLC. 

“MLPFS” means Merrill Lynch, Pierce, Fenner & Smith Incorporated (as successor by merger to Banc of
America Securities LLC) and its successors. 
 “Moody’s” means Moody’s Investors Service, Inc.
and any successor thereto. 
 “Mortgage” means, collectively, the deeds of trust, trust deeds and
mortgages made by the Loan Parties in favor or for the benefit of the Administrative Agent on behalf of the Lenders substantially in the form of Exhibit H (with such changes as may be customary to account for local law matters) and
otherwise in form and substance satisfactory to the Administrative Agent. 
 “Mortgage Policies” has the
meaning specified in Section 6.14(b)(ii). 
 “Mortgaged Properties” means the properties
listed on Schedule 6.14(b). 
 “Multiemployer Plan” means any employee benefit plan of the
type described in Section 4001(a)(3) of ERISA, to which any Loan Party or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

“Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including a Loan Party or any
ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 

“MWPDA” means the Minnesota Wholesale Produce Dealers Act (Minnesota Statutes, Ch. 27). 

“Net Cash Proceeds” means: 

(a) with respect to the Disposition of any asset by Holdings, the Borrower or any Restricted Subsidiary or any Casualty
Event, the excess, if any, of (i) the sum of cash and Cash Equivalents received in connection with such Disposition or Casualty Event (including any cash or Cash Equivalents received by way of deferred payment pursuant to, or by monetization
of, a note receivable or otherwise, but only as and when so received and, with respect to any Casualty Event, any insurance proceeds or condemnation awards in respect of such Casualty Event received by or paid to or for the account of Holdings, the
Borrower or any Restricted Subsidiary) over (ii) the sum of (A) the principal amount of any Indebtedness that is secured by the asset subject to such Disposition or Casualty Event and that is repaid in connection with such Disposition or
Casualty Event (other than Indebtedness under the Loan Documents), (B) the out-of-

  
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pocket expenses incurred by Holdings, the Borrower or such Restricted Subsidiary in connection with such Disposition or Casualty Event (including attorneys’ fees, accountants’ fees,
investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees actually
incurred in connection therewith), (C) income taxes reasonably estimated to be actually payable within two (2) years of the date of the relevant Disposition or Casualty Event as a result of any gain recognized in connection therewith, and
(D) any reserve for adjustment in respect of (x) the sale price of such asset or assets established in accordance with GAAP and (y) any liabilities associated with such asset or assets and retained by Holdings, the Borrower or any
Restricted Subsidiary after such sale or other disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations
associated with such transaction and it being understood that “Net Cash Proceeds” shall include, without limitation, any cash or Cash Equivalents (i) received upon the Disposition of any non-cash consideration received by Holdings,
the Borrower or any Restricted Subsidiary in any such Disposition and (ii) upon the reversal (without the satisfaction of any applicable liabilities in cash in a corresponding amount) of any reserve described in clause (D) of the
preceding sentence or, if such liabilities have not been satisfied in cash and such reserve not reversed within three hundred and sixty-five (365) days after such Disposition or Casualty Event, the amount of such reserve; 

(b) with respect to the issuance of any Equity Interest by the Borrower or any Restricted Subsidiary, the excess of
(i) the sum of the cash and Cash Equivalents received in connection with such issuance over (ii) the investment banking fees, underwriting discounts and commissions, and other out-of-pocket expenses and other customary expenses, incurred
by the Borrower or such Restricted Subsidiary in connection with such issuance; and 
 (c) with respect to the
incurrence or issuance of any Indebtedness by Holdings, the Borrower or any Restricted Subsidiary, the excess, if any, of (i) the sum of the cash received in connection with such incurrence or issuance over (ii) the investment banking
fees, underwriting discounts and commissions, taxes reasonably estimated to be actually payable within two (2) years of the date of such incurrence or issuance and other out-of-pocket expenses and other customary expenses, incurred by the
Borrower or such Restricted Subsidiary in connection with such incurrence or issuance. 
 “Net Working
Capital” means, with respect to any Person and its Restricted Subsidiaries on a consolidated basis, Consolidated Current Assets minus Consolidated Current Liabilities. 

“New Term Facility” has the meaning given to that term in Section 2.16(a). 

“New Term Loan” has the meaning given to that term in Section 2.16(a). 

  
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 “No Undisclosed Information Representation” by a Person means a
representation that such Person is not in possession of any material non-public information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing. 

“Non-Consenting Lender” has the meaning specified in Section 3.07(d). 

“Non-Debt Fund Affiliate” means any Affiliate of Holdings other than (i) any Subsidiary of Holdings,
(ii) any Debt Fund Affiliate and (iii) any natural person; and shall in any case exclude each of (A) Goldman Sachs Credit Partners L.P., (B) Goldman Sachs Lending Partners LLC and (C) Goldman Sachs Asset Management, L.P.,
Goldman Sachs Investment Strategies, LLC, and any investment fund or separate account managed by either of them. 

“Non-Extended Revolving Credit Borrowing” means a borrowing consisting of simultaneous Non-Extended Revolving
Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Non-Extending Revolving Credit Lenders pursuant to Section 2.01(c). 

“Non-Extended Revolving Credit Commitment” means, as to each Non-Extending Revolving Credit Lender, its
obligation to (a) make Non-Extended Revolving Credit Loans to the Borrower pursuant to Section 2.01(c), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate
principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Non-Extended Revolving Credit Commitment” or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate Commitment of all Non-Extending Revolving Credit Lenders shall be $17,500,000 on
the Effective Date, as such amount may be adjusted from time to time in accordance with the terms of this Agreement. 

“Non-Extended Revolving Credit Facility” means, at any time, the aggregate amount of the Non-Extending Revolving
Credit Lenders’ Non-Extended Revolving Credit Commitments at such time. 
 “Non-Extended Revolving Credit
Loan” has the meaning specified in Section 2.01(c). 
 “Non-Extending Revolving Credit
Lender” means, at any time, any Lender that has a Non-Extended Revolving Credit Commitment at such time. 

“Non-Extending Term B Lender” means an Existing Term B Lender that does not provide a Term B Commitment on the
Effective Date; provided that, solely for purposes of Section 2.01(b)(ii)(E), any Existing Term B Lender that becomes a Term B Lender within 30 days of the Effective Date shall be deemed an Extending Term B Lender and shall not be
deemed a Non-Extending Term B Lender. 
 “Nonrenewal Notice Date” has the meaning specified in
Section 2.03(b)(iii). 

  
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 “Note” means a Term B Note or a Revolving Credit Note, as the
context may require. 
 “NPL” means the National Priorities List under CERCLA. 

“Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party
arising under any Loan Document or otherwise with respect to any Loan, Letter of Credit, Secured Cash Management Agreement or Secured Hedge Agreement, in each case whether direct or indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the debtor in
such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. Without limiting the generality of the foregoing, the Obligations of the Loan Parties under the Loan Documents include (a) the obligation to
pay principal, interest, Letter of Credit commissions, charges, expenses, fees, indemnities and other amounts payable by any Loan Party under any Loan Document and (b) the obligation of any Loan Party to reimburse any amount in respect of any
of the foregoing that any Lender, in its sole discretion, may elect to pay or advance on behalf of such Loan Party. 

“Other Equity” has the meaning given to such term in the definition of the “Transaction.” 

“Organization Documents” means, (a) with respect to any corporation, the certificate or articles of
incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and
operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing
or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or
organization of such entity. 
 “Other Taxes” has the meaning specified in Section 3.01(b).

 “Outstanding Amount” means (a) with respect to the Term B Loans, New Term Loans, Revolving
Credit Loans and Swing Line Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Term B Loans, New Term Loans, Revolving Credit Loans (including any refinancing
of outstanding unpaid drawings under Letters of Credit or L/C Credit Extensions as a Revolving Credit Borrowing) and Swing Line Loans, as the case may be, occurring on such date; and (b) with respect to any L/C Obligations on any date, the
amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements of
outstanding unpaid drawings under any Letters of Credit (including any refinancing of outstanding unpaid drawings under Letters of Credit or L/C Credit Extensions as a 

  
 44 

 
Revolving Credit Borrowing) or any reductions in the maximum amount available for drawing under Letters of Credit taking effect on such date. 

“PACA” means the Perishable Agricultural Commodities Act, 7 U.S.C. § 499a, et seq. and its implementing
regulations. 
 “Participant” has the meaning specified in Section 10.07(d). 

“Participant Register” has the meaning set forth in Section 10.07(n). 

“PATRIOT Act” has the meaning specified in Section 10.21. 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including
any installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension
Act and, thereafter, Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 

“Pension Plan” means any “employee pension benefit plan” (including a Multiple Employer Plan or a
Multiemployer Plan) that is maintained or is contributed to by a Loan Party or any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code. 

“Permitted Acquisition” has the meaning specified in Section 7.02(i). 

“Permitted Encumbrances” has the meaning specified in the Mortgages. 

“Permitted Equity” has the meaning given to such term in the definition of the “Transaction.”

 “Permitted Equity Issuance” means any sale or issuance of any Equity Interests (other than
Disqualified Equity Interests) of Holdings, the proceeds of which are contributed to the common equity of the Borrower. 

“Permitted Holders” means the Sponsor, THL and the Management Shareholders; provided that in no event shall the
Management Shareholders be treated as Permitted Holders with respect to more than ten percent (10%) of the outstanding voting Equity Interests of Holdings or with respect to their ability to designate, or to vote or direct the voting of
securities having the power to elect, more than ten percent (10%) of the board of directors of Holdings. 

“Permitted Investors” means the Sponsor and any other Investor that held Equity Interests of Michael Foods Group,
Inc. (f/k/a M-Foods Holdings, Inc.) immediately prior to the Merger. 

  
 45 

 “Permitted Ratio Debt” means unsecured Indebtedness in the form of
notes or loans under credit agreements, indentures or other similar agreements or instruments; provided that (A) (1) the terms of such Indebtedness do not provide for any scheduled repayment, mandatory redemption or sinking fund
obligations prior to the date that is ninety one (91) days after the Term B Maturity Date (other than customary offers to repurchase upon a change of control, asset sale or event of loss and customary acceleration rights after an event of
default), and (2) the covenants, events of default, guarantees and other terms of such Indebtedness are customary for similar debt securities in light of then-prevailing market conditions (it being understood that such Indebtedness shall not
include any financial maintenance covenants that are more restrictive than the provisions of Section 7.11 and that any negative covenants shall be incurrence-based) and in any event, when taken as a whole (other than interest rate and
redemption premiums), are not more restrictive to the Borrower and the Restricted Subsidiaries than those set forth in this Agreement (provided that a certificate of the Chief Financial Officer of the Borrower delivered to the Administrative Agent
in good faith at least five Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto,
stating that the Borrower has determined in good faith that such terms and conditions satisfy the requirement set out in the foregoing clause (2), shall be conclusive evidence that such terms and conditions satisfy such requirement unless the
Administrative Agent provides notice to the Borrower of its objection during such five Business Day period), (3) if such Indebtedness is subordinated, the Facility have been, and while the Facilities remain outstanding no other Indebtedness is
or is permitted to be, designated as “Designated Senior Debt” or its equivalent in respect of such Indebtedness and (4) in the case of any Indebtedness of the Borrower or any Restricted Subsidiary owed to the seller of any property
acquired in a Permitted Acquisition, such Indebtedness is expressly subordinated to the prior payment in full in cash of the Obligations on terms and conditions that are reasonably acceptable to the Administrative Agent; (B) immediately before
and immediately after giving Pro Forma Effect to the incurrence of such Indebtedness, no Default shall have occurred and be continuing; and (C) immediately after giving effect to the incurrence of such Indebtedness, the Borrower and its
Restricted Subsidiaries shall be in Pro Forma Compliance with the Interest Coverage Ratio covenant set forth in Section 7.11 and with a maximum Total Leverage Ratio of 6.0:1.0, such compliance to be determined on the basis of the
financial information most recently delivered to the Administrative Agent and the Lenders pursuant to Section 6.01(a) or (b) as though such Indebtedness had been incurred as of the first day of the fiscal period covered
thereby and evidenced by a certificate from the Chief Financial Officer of the Borrower demonstrating such compliance calculation in reasonable detail. 
 “Permitted Refinancing” means, with respect to any Person, any modification, refinancing, refunding, renewal, replacement or extension of any Indebtedness of such Person;
provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or
extended except by an amount equal to accrued and unpaid interest and a reasonable premium thereon plus other reasonable amounts paid, and fees and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal,
replacement or extension and by an amount equal to any existing commitments unutilized thereunder; (b) such modification, refinancing, refunding, renewal, replacement or extension has a final maturity date equal to or later than the final
maturity date of, and has a 

  
 46 

 
Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended;
(c) if the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal or extension is subordinated in right of
payment to the Obligations on terms as favorable in all material respects to the Lenders as those contained in the documentation governing the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended; (d) the terms and
conditions (including, if applicable, as to collateral) of any such modified, refinanced, refunded, renewed, replaced or extended Indebtedness are, (A) either (i) customary for similar debt securities in light of then-prevailing market
conditions (it being understood that such Indebtedness shall not include any financial maintenance covenants and that any negative covenants shall be incurrence-based) or (ii) not materially less favorable to the Loan Parties or the Lenders
than the terms and conditions of the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended, and (B) when taken as a whole (other than interest rate and redemption premiums), are not more restrictive to the Borrower
and the Restricted Subsidiaries than those set forth in this Agreement (provided that a certificate of the Chief Financial Officer of the Borrower delivered to the Administrative Agent in good faith at least five Business Days prior to the
incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Borrower has determined in good faith that
such terms and conditions satisfy the requirement set out in the foregoing clause (d), shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Administrative Agent provides notice to the Borrower of its
objection during such five Business Day period); (e) such modification, refinancing, refunding, renewal or extension is incurred by the Person who is the obligor on the Indebtedness being modified, refinanced, refunded, renewed, replaced or
extended; and (f) at the time thereof, no Default shall have occurred and be continuing. 
 “Permitted Surviving
Debt” has the meaning given to such term in the definition of the “Transaction.” 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association,
company, partnership, Governmental Authority or other entity. 
 “Plan” means any employee benefit plan
within the meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees of the Borrower or any ERISA Affiliate or any such Plan to which the Borrower or any ERISA Affiliate is required to contribute on behalf of any of
its employees. 
 “Platform” has the meaning specified in Section 6.02. 

“Pledged Debt” has the meaning specified in the Security Agreement. 

“Pledged Interests” has the meaning specified in the Security Agreement. 

“Pro Forma Basis”, “Pro Forma Compliance” and “Pro Forma Effect”
means, in respect of a Specified Transaction, that such Specified Transaction and the following 

  
 47 

 
transactions in connection therewith (to the extent applicable) shall be deemed to have occurred as of the first day of the applicable period of measurement in such covenant: (a) income
statement items (whether positive or negative) attributable to the property or Person, if any, subject to such Specified Transaction, (i) in the case of a Disposition of all or substantially all Equity Interests in any Restricted
Subsidiary of the Borrower or any division, product line, or facility used for operations of the Borrower or any of its Restricted Subsidiaries, shall be excluded, and (ii) in the case of a purchase or other acquisition of all or substantially
all of the property and assets or business of any Person, or of assets constituting a business unit, a line of business or division of such Person, or of all or substantially all of the Equity Interests in a Person, shall be included, (b) any
retirement of Indebtedness, and (c) any Indebtedness incurred or assumed by the Borrower or any of its Restricted Subsidiaries in connection therewith and if such Indebtedness has a floating or formula rate, shall have an implied rate of
interest for the applicable period for purposes of this definition determined by utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant date of determination. 

“Pro Rata Share” means, with respect to each Lender at any time, a fraction (expressed as a percentage, carried
out to the ninth decimal place, and subject to adjustment as provided in Section 2.18), the numerator of which is the amount of the Commitments of such Lender under the applicable Facility or Facilities at such time and the denominator
of which is the amount of the Aggregate Commitments under the applicable Facility or Facilities at such time; provided, that if the commitment of each Lender to make Loans and the obligation of each L/C Issuer to make L/C Credit Extensions
have been terminated pursuant to Section 8.02, then the Pro Rata Share of each Lender shall be determined based on the Pro Rata Share of such Lender immediately prior to such termination and after giving effect to any subsequent
assignments made pursuant to the terms hereof. The initial Pro Rata Share of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party
hereto, as applicable. 
 “Public Lender” has the meaning specified in Section 6.02.

 “Qualifying IPO” means the issuance by Holdings of its common Equity Interests in an underwritten
primary public offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration statement filed with the SEC in accordance with the Securities Act (whether alone or in connection with a
secondary public offering). 
 “Reduction Amount” has the meaning set forth in the definition of
“Cumulative Credit.” 
 “Refinancing” has the meaning given to such term in the definition of
the “Transaction.” 
 “Register” has the meaning set forth in Section 10.07(c).

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

  
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 “Reportable Event” means any of the events set forth in
Section 4043(c) of ERISA, other than events for which the thirty (30) day notice period has been waived. 

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

“Required Extending Revolving Lenders” means, as of any date of determination, Extending Revolving Credit Lenders
holding more than 50% of the sum of the (a) Total Extended Revolving Credit Outstandings (with the aggregate amount of each Extending Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line
Loans being deemed “held” by such Extending Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Extended Revolving Credit Commitments; provided that the unused Extended Revolving Credit Commitment
of, and the portion of the Total Extended Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Extending Revolving Lenders. 

“Required Lenders” means, as of any date of determination, Lenders having more than 50% of the sum of the
(a) Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this definition),
(b) aggregate unused Term B Commitments and (c) aggregate unused Revolving Credit Commitments; provided, that the unused Term B Commitments, unused Revolving Credit Commitment of, and the portion of the Total Outstandings held or
deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 

“Required New Term Lenders” means, as of any date of determination, with respect to a tranche of New Term Loans,
Lenders having more than 50% of the aggregate Outstanding Amount of all New Term Loans of that tranche; provided, that the portion of the Total Outstandings held or deemed held by any Defaulting Lender shall be excluded for purposes of making
a determination of Required New Term Lenders. 
 “Required Non-Extending Revolving Lenders” means, as of
any date of determination, Non-Extending Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Non-Extended Revolving Credit Outstandings (with the aggregate amount of each Non-Extending Revolving Credit Lender’s risk
participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Non-Extending Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Non-Extended Revolving Credit
Commitments; provided that the unused Non-Extended Revolving Credit Commitment of, and the portion of the Total Non-Extended Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making
a determination of Required Non-Extending Revolving Lenders. 
 “Required Revolving Lenders” means, as
of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit 

  
 49 

 
Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by
such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held
or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders. 
 “Required Term B Lenders” means, as of any date of determination, Term B Lenders having more than 50% of the sum of the (a) the aggregate Outstanding Amount of all Term B
Loans, and (b) the aggregate unused Term B Commitments; provided, that the unused Term B Commitments of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a
determination of Required Term B Lenders. 
 “Responsible Officer” means the chief executive officer,
president, chief financial officer, treasurer or assistant treasurer of a Loan Party and, as to any document delivered on the Effective Date, any vice president, secretary or assistant secretary. Any document delivered hereunder that is signed by a
Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have
acted on behalf of such Loan Party. 
 “Restricted Payment” means any dividend or other distribution
(whether in cash, securities or other property) with respect to any Equity Interest of any Person, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, defeasance, acquisition, cancellation or termination of any such Equity Interest, or on account of any return of capital to such Person’s stockholders, partners or members (or the equivalent Persons thereof). 

“Restricted Subsidiary” means any Subsidiary of the Borrower that is not an Unrestricted Subsidiary. 

“Retained Percentage” means, with respect to any Excess Cash Flow Period, (a) 100% minus (b) the
percentage of Excess Cash Flow for such Excess Cash Flow Period that is required to be used to prepay Loans pursuant to Section 2.05(b)(i). 
 “Retained Tax Amount” has the meaning given to such term in Section 2.05(b)(vii). 
 “Revolving Credit Borrowing” means any Extended Revolving Credit Borrowing or Non-Extended Revolving Credit Borrowing or both, as the context requires. 

“Revolving Credit Commitment” means the Extended Revolving Credit Commitment or Non-Extended Revolving Credit
Commitment or both, as the context requires. 
 “Revolving Credit Facility” means, at any time, the sum
of the aggregate amount of the Extending Revolving Credit Lenders’ Extended Revolving Credit Commitments at such 

  
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time and the Non-Extending Revolving Credit Lenders’ Non-Extended Revolving Credit Commitments at such time. 
 “Revolving Credit Lender” means any Extending Revolving Credit Lender or Non-Extending Revolving Credit Lender or both, as the context requires. 

“Revolving Credit Loan” means any Extended Revolving Credit Loan or Non-Extended Revolving Credit Loan or both,
as the context requires. 
 “Revolving Credit Note” means a promissory note of the Borrower payable to
any Revolving Credit Lender or its registered assigns, in substantially the form of Exhibit C-2 hereto, evidencing the aggregate indebtedness of the Borrower to such Revolving Credit Lender resulting from the Revolving Credit Loans made
by such Revolving Credit Lender. 
 “S&P” means Standard & Poor’s Financial Services
LLC, a wholly-owned subsidiary of The McGraw-Hill Companies, Inc., and any successor thereto. 
 “SEC”
means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions. 

“Secured Cash Management Agreement” means any Cash Management Agreement that is entered into by and between any
Loan Party and any Cash Management Bank. 
 “Secured Hedge Agreement” means any Swap Contract permitted
under Article VII that is entered into by and between any Loan Party and any Hedge Bank. 
 “Secured
Obligations” has the meaning specified in the Security Agreement. 
 “Secured Parties”
means, collectively, the Administrative Agent, the Lenders, the Hedge Banks, the Cash Management Banks, any Supplemental Administrative Agent and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to
Section 9.01(c). 
 “Security Agreement” means, collectively, the Security Agreement dated
as of the Closing Date executed by the Loan Parties, substantially in the form of Exhibit G, together with each other security agreement supplement executed and delivered pursuant to Section 6.12. 

“Security Agreement Supplement” has the meaning specified in the Security Agreement. 

“Senior Notes” means the 9.750% unsecured senior notes of the Borrower due July 15, 2018 in an aggregate
principal amount of $430,000,000 issued on the Closing Date, and any exchange notes issued in exchange therefor, in each case, pursuant to the Senior Notes Indenture. 
 “Senior Notes Indenture” means the Indenture dated as of June 29, 2010, between Wells Fargo Bank, National Association, as trustee, the Borrower and the Guarantors, together
with all instruments and other agreements in connection therewith, as may be amended, 

  
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supplemented or otherwise modified from time to time in accordance with the terms thereof, but only to the extent permitted under the terms of the Loan Documents. 

“Senior Secured Note Liens” means Liens on the Collateral securing Senior Secured Notes on a junior basis to, or
a pari passu basis with, the Liens securing the Obligations, provided that such Liens are granted under security documents to a collateral agent for the benefit of the holders of the Senior Secured Notes and subject to a customary
intercreditor agreement that is reasonably satisfactory to the Administrative Agent and that is entered into between the Administrative Agent (as collateral agent for the Lenders), such other collateral agent and the Loan Parties and which provides
for lien sharing and for the junior or pari passu treatment of such Liens with the Liens securing the Obligations; 

“Senior Secured Notes” means notes issued under an indenture, that are either unsecured or secured by Senior
Secured Note Liens, and the aggregate principal amount of which, together with the aggregate amount of all increases in the Revolving Credit Facility pursuant to Section 2.14, all increases in the Term B Facility pursuant to
Section 2.15, and all New Term Facilities then outstanding pursuant to Section 2.16(a)(i), does not exceed $200,000,000; provided that (A) the Administrative Agent shall have received a certificate signed by a
Responsible Officer of the Borrower stating that the Borrower has elected to decrease the amount available for increases in the Revolving Credit Facility pursuant to Section 2.14, increases in the Term B Facility pursuant to
Section 2.15, and New Term Facilities pursuant to Section 2.16(a)(i) as a result of the incurrence of such Indebtedness, as contemplated by such Sections; (B) (1) the terms of such Indebtedness do not provide for
any scheduled repayment, mandatory redemption or sinking fund obligations prior to the Term B Maturity Date (other than customary offers to repurchase upon a change of control, asset sale or event of loss and customary acceleration rights after an
event of default) and (2) the covenants, events of default, guarantees, collateral and other terms of such Indebtedness are customary for similar senior secured debt securities in light of then-prevailing market conditions (it being understood
that such Indebtedness shall not include any financial maintenance covenants and that any negative covenants shall be incurrence-based) and in any event, when taken as a whole (other than interest rate and redemption premiums), are not more
restrictive to the Borrower and the Restricted Subsidiaries than those set forth in this Agreement (provided that a certificate of the Chief Financial Officer of the Borrower delivered to the Administrative Agent in good faith at least five Business
Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Borrower has determined in
good faith that such terms and conditions satisfy the requirement set out in the foregoing clause (2), shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Administrative Agent provides notice to the
Borrower of its objection during such five Business Day period); (C) immediately before and immediately after giving Pro Forma Effect to the incurrence of such Indebtedness, no Default shall have occurred and be continuing; and
(D) immediately after giving effect to the incurrence of such Indebtedness, the Borrower and its Restricted Subsidiaries shall be in Pro Forma Compliance with all of the covenants set forth in Section 7.11 and with the
Maximum Senior Secured Leverage Ratio, in each case for the four-quarter period to which the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b) relates, as though such Indebtedness had
been incurred as of the first day of the fiscal period covered thereby and evidenced by a certificate from the Chief 

  
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Financial Officer of the Borrower demonstrating such compliance calculation in reasonable detail; provided that up to $50,000,000 of the sum of all (w) increases in the Revolving
Credit Facility pursuant to Section 2.14, (x) increases in the Term B Facility pursuant to Section 2.15, (y) incurrences of New Term Facilities pursuant to Section 2.16(a)(i) and (z) incurrences of Senior Secured Notes
may be effected without regard to compliance with the Maximum Senior Secured Leverage Ratio. 

“Solvent” and “Solvency” mean, with respect to any Person on any date of determination,
that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (b) the present fair salable value of the assets of
such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or
liabilities beyond such Person’s ability to pay such debts and liabilities as they mature and (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such
Person’s property would constitute an unreasonably small capital. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the
amount that can reasonably be expected to become an actual or matured liability. 
 “SPC” has the
meaning specified in Section 10.07(g). 
 “Specified Refinancing Debt” means Indebtedness
that is either unsecured or (if such Indebtedness is in the form of notes issued under an indenture) secured by Specified Refinancing Liens, provided that (A) an amount equal to the principal amount of such Indebtedness is applied concurrently
with the incurrence thereof to prepay the Loans pursuant to Section 2.05(b)(iii); (B) (1) the terms of such Indebtedness do not provide for any scheduled repayment, mandatory redemption or sinking fund obligations prior to the
Term B Maturity Date (other than customary offers to repurchase upon a change of control, asset sale or event of loss and customary acceleration rights after an event of default) and (2) the covenants, events of default, guarantees, collateral
and other terms of such Indebtedness are customary for similar debt securities in light of then-prevailing market conditions (it being understood that such Indebtedness shall not include any financial maintenance covenants and that any negative
covenants shall be incurrence-based) and in any event, when taken as a whole (other than interest rate and payment premiums), are not more restrictive to the Borrower and the Restricted Subsidiaries than those set forth in this Agreement (provided
that a certificate of the Chief Financial Officer of the Borrower delivered to the Administrative Agent in good faith at least five Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the
material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the requirement set out in the foregoing
clause (2), shall be conclusive evidence that such terms and conditions satisfy such requirement unless the Administrative Agent provides notice to the Borrower of its objection during such five Business Day period); (C) immediately before
and immediately after giving Pro Forma Effect to the incurrence of such Indebtedness, no Default shall have occurred and be continuing; and (D) immediately after giving effect to the incurrence of such Indebtedness, the Borrower and its
Restricted Subsidiaries shall be in Pro Forma Compliance with all of the covenants set forth in 

  
 53 

 
Section 7.11, such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent and the Lenders pursuant to
Section 6.01(a) or (b) as though such Indebtedness had been incurred as of the first day of the fiscal period covered thereby and evidenced by a certificate from the Chief Financial Officer of the Borrower demonstrating such
compliance calculation in reasonable detail. 
 “Specified Refinancing Liens” means Liens on the
Collateral securing notes that constitute Specified Refinancing Debt on a junior basis to, or a pari passu basis with, the Liens securing the Obligations, provided that such Liens are granted under security documents to a collateral agent for
the benefit of the holders of such notes and subject to a customary intercreditor agreement that is reasonably satisfactory to the Administrative Agent and that is entered into between the Administrative Agent (as collateral agent for the Lenders),
such other collateral agent and the Loan Parties and which provides for lien sharing and for the junior or pari passu treatment of such Liens with the Liens securing the Obligations. 

“Specified Transaction” means any incurrence or repayment of Indebtedness (other than for working capital
purposes) or Investment that results in a Person becoming a Subsidiary, any Permitted Acquisition or any Disposition that results in a Restricted Subsidiary ceasing to be a Subsidiary of the Borrower, any Investment constituting an acquisition of
assets constituting a business unit, line of business or division of another Person or any Disposition of a business unit, line of business or division of the Borrower or a Restricted Subsidiary, in each case whether by merger, consolidation,
amalgamation or otherwise or any material restructuring of the Borrower or implementation of initiative not in the ordinary course of business and described in reasonable detail in the officer’s certificate of the Borrower. 

“Sponsor” means GS Capital Partners VI Fund, L.P. and its Affiliates. 

“Sponsor Management Agreement” means the letter agreement dated as of June 29, 2010, between Goldman,
Sachs & Co., THL Managers V, LLC and MFI Holding Corporation, a Delaware corporation, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof, but only to the extent that such amendment,
supplement or modification (i) does not increase the obligations of Holdings or any of its Affiliates (other than Goldman, Sachs & Co. or THL Managers V, LLC) to make payments thereunder and (ii) is otherwise permitted under the
terms of the Loan Documents. 
 “Subsidiary” of a Person means a corporation, partnership, joint
venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests
having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless
otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower. 

“Subsidiary Guarantor” means, collectively, the Restricted Subsidiaries of the Borrower that are Guarantors.

  
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 “Subsidiary Guaranty” means, collectively, the Subsidiary Guaranty
made by the Subsidiary Guarantors in favor of the Administrative Agent on behalf of the Secured Parties, substantially in the form of Exhibit F-2, together with each other guaranty and guaranty supplement delivered pursuant to
Section 6.12. 
 “Supplemental Administrative Agent” has the meaning specified in
Section 9.14 and “Supplemental Administrative Agents” shall have the corresponding meaning. 

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

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the
effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination
value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available
quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.04. 

“Swing Line Facility” means the revolving credit facility made available by the Swing Line Lender pursuant to
Section 2.04. 
 “Swing Line Lender” means Bank of America in its capacity as provider of
Swing Line Loans, or any successor swing line lender hereunder. 
 “Swing Line Loan” has the meaning
specified in Section 2.04(a). 
 “Swing Line Loan Notice” means a notice of a Swing Line
Borrowing pursuant to Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit B. 

  
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 “Swing Line Sublimit” means an amount equal to the lesser of
(a) $10,000,000 and (b) the Revolving Credit Commitments. The Swing Line Sublimit is part of, and not in addition to, the Revolving Credit Facility Commitments. 
 “Syndication Agent” means GSLP, as Syndication Agent under the Loan Documents. 
 “Synthetic Lease Obligation” means the monetary obligation of a Person under a so-called synthetic, off-balance sheet or tax retention lease. 

“Taxes” has the meaning specified in Section 3.01(a). 

“Term B Borrowing” means a borrowing consisting of simultaneous Term B Loans of the same Type and, in
the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term B Lenders pursuant to Section 2.01(b). 
 “Term B Commitment” means, as to each Term B Lender, its obligation to make Term B Loans to the Borrower pursuant to Section 2.01(b) in an aggregate
principal amount at any one time outstanding not to exceed the amount set forth opposite such Term B Lender’s name on Schedule 2.01 under the caption “Term B Commitment” or opposite such caption in the Assignment
and Assumption pursuant to which such Term B Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The aggregate Commitment of all Term B Lenders shall be $840,000,000
on the Effective Date, as such amount may be adjusted from time to time in accordance with the terms of this Agreement. 

“Term B Facility” means, at any time, (a) prior to the Effective Date, the aggregate Term B
Commitments of all Term B Lenders at such time, and (b) thereafter, the aggregate Term B Loans of all Term B Lenders at such time. 
 “Term B Lender” means (a) at any time on or prior to the Effective Date, any Lender that has a Term B Commitment at such time and (b) at any time after the
Effective Date, any Lender that holds Term B Loans at such time. 
 “Term B Loan” means an
advance made by any Term B Lender under the Term B Facility. 
 “Term B Maturity Date” means
earliest of (i) February 25, 2018, (ii) the date of termination in whole of the Term B Commitments pursuant to Section 2.06(a) prior to any Term B Borrowing or (iii) the date that the Term B Loans are declared due and
payable pursuant to Section 8.02. 
 “Term B Note” means a promissory note of the
Borrower payable to the order of any Term B Lender, in substantially the form of Exhibit C-1 hereto, evidencing the indebtedness of the Borrower to such Term B Lender resulting from the Term B Loans made or held by such
Term B Lender. 
 “THL” means THL Managers V, LLC and its Affiliates. 

  
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 “Threshold Amount” means $20,000,000. 

“Total Leverage Ratio” means, with respect to the Borrower Parties on a consolidated basis, as of the end of any
fiscal quarter of the Borrower for the four (4) fiscal quarter period ending on such date, the ratio of (a) Consolidated Funded Indebtedness (net of up to an aggregate maximum of $75 million of (i) unrestricted cash and Cash
Equivalents on hand and (ii) cash and Cash Equivalents restricted in favor of the Administrative Agent or any Lender) of the Borrower Parties on the last day of such period to (b) Consolidated EBITDA of the Borrower Parties for such
period. 
 “Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C
Obligations. 
 “Total Extended Revolving Credit Outstandings” means the sum of the aggregate
Outstanding Amount of all Extended Revolving Credit Loans and the aggregate Outstanding Amount of all Swing Line Loans and L/C Obligations owed to the Extending Revolving Credit Lenders based on the Pro Rata Share of the Extending Revolving Credit
Lenders in the Revolving Credit Facility. 
 “Total Non-Extended Revolving Credit Outstandings” means
the aggregate Outstanding Amount of all Non-Extended Revolving Credit Loans and the aggregate Outstanding Amount of all Swing Line Loans and L/C Obligations owed to the Non-Extending Revolving Credit Lenders based on the Pro Rata Share of the
Non-Extending Revolving Credit Lenders in the Revolving Credit Facility. 
 “Total Revolving Credit
Outstandings” means the sum of the aggregate Outstanding Amount of all Revolving Credit Loans and the aggregate Outstanding Amount of all Swing Line Loans and L/C Obligations owed to the Revolving Credit Lenders based on the Pro Rata
Share of the Revolving Credit Lenders in the Revolving Credit Facility. 
 “Total Senior Secured Leverage
Ratio” means with respect to the Borrower Parties on a consolidated basis, as of the end of any fiscal quarter of the Borrower for the four (4) fiscal quarter period ending on such date, the ratio of (a) Consolidated Funded
Senior Secured Indebtedness (net of up to an aggregate maximum of $75 million of (i) unrestricted cash and Cash Equivalents on hand and (ii) cash and Cash Equivalents restricted in favor of the Administrative Agent or any Lender) of the
Borrower Parties on the last day of such period to (b) Consolidated EBITDA of the Borrower Parties for such period. 

“Transaction” means the acquisition of the Borrower by the Sponsor and associated funds and certain other
investors, including management of M-F Holdings, Inc. (collectively, the “Investors”), together with each of the following transactions consummated or to be consummated in connection therewith: 

(a) The Merger. 
 (b) Equity contributions (in the form of either (1) common equity or (2) preferred equity having terms reasonably acceptable to the Arrangers, any equity described in the foregoing
clauses (1) or (2) being “Permitted Equity”) 

  
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being made in cash directly or indirectly to Holdings by the Investors and further contributed to Merger Sub (the “Equity Contribution”) in an aggregate amount that, when
taken together with all Permitted Equity rolled over or directly or indirectly invested in Permitted Equity of Holdings and all Permitted Equity of Holdings issued to, or otherwise directly or indirectly acquired by, any existing shareholders and
management of Michael Foods Group, Inc. (f/k/a M-Foods Holdings, Inc.) in an aggregate amount not to exceed $150 million (collectively, the “Other Equity”), is not less than 27.50% of the sum of (i) the aggregate amount
of Facilities funded on the Closing Date, (ii) the aggregate amount of Senior Notes issued on the Closing Date, (iii) the aggregate amount of existing Indebtedness of the Borrower and its subsidiaries not subject to the Refinancing (as
defined below), and (iv) the Equity Contribution and the Other Equity. 
 (c) Substantially all existing
Indebtedness for borrowed money of Michael Foods Group, Inc. (f/k/a M-Foods Holdings, Inc.) and its Subsidiaries being refinanced, terminated or discharged and satisfied (the “Refinancing”) other than (i) Capitalized
Leases and (ii) other Indebtedness in an aggregate amount (for all Indebtedness described in the foregoing clauses (i) and (ii)) not to exceed $40.0 million, (iii) off-balance sheet guarantees in respect of industrial revenue bonds
and insurance bonds in an aggregate principal amount not to exceed $6.5 million and (iv) for the avoidance of doubt, Discharged Existing Notes (but only until the date that is 31 days after the Closing Date) (collectively, the
“Permitted Surviving Debt”), and fees, premiums and expenses incurred in connection with the Transaction (the “Transaction Costs”) being paid. 

(d) Merger Sub or the Borrower obtaining the Facilities. 

(e) Merger Sub or the Borrower issuing and selling the Senior Notes in a Rule 144A or other private placement on the
Closing Date yielding at least $430 million in gross cash proceeds on the Closing Date. 
 (f) The Amendment and
Restatement. 
 “Transaction Costs” has the meaning given to such term in the definition of the
“Transaction.” 
 “Type” means, with respect to a Loan, its character as a Base Rate Loan or a
Eurodollar Rate Loan. 
 “Uniform Commercial Code” means the Uniform Commercial Code as the same may
from time to time be in effect in the State of New York or the Uniform Commercial Code (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral. 

“United States” and “U.S.” mean the United States of America. 

“Unreimbursed Amount” has the meaning set forth in Section 2.03(c)(i). 

  
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 “Unrestricted Subsidiary” means (1) any Subsidiary of the
Borrower designated by the Borrower as an Unrestricted Subsidiary hereunder by written notice to the Administrative Agent; provided, that the Borrower shall only be permitted to so designate a Subsidiary as an Unrestricted Subsidiary after the
Closing Date and so long as (a) no Default has occurred and is continuing or would result therefrom, (b) immediately after giving effect to such designation, the Borrower shall be in Pro Forma Compliance with the financial covenants set
forth in Section 7.11, (c) such Unrestricted Subsidiary shall be capitalized (to the extent capitalized by the Borrower or any of its Restricted Subsidiaries) through Investments as permitted by, and in compliance with,
Section 7.02, (d) without duplication of clause (c), any assets owned by such Unrestricted Subsidiary at the time of the initial designation thereof shall be treated as Investments pursuant to Section 7.02,
(e) such Subsidiary shall have been or will promptly be designated an “unrestricted subsidiary” (or otherwise not be subject to the covenants) under the Senior Notes Indenture and all Permitted Refinancing in respect thereof and
(f) the Borrower shall have delivered to the Administrative Agent an officer’s certificate executed by a Responsible Officer of the Borrower, certifying compliance with the requirements of preceding clauses (a) through (e), and
containing the calculations and information required by the preceding clause (b), and (2) any subsidiary of an Unrestricted Subsidiary. The Borrower may designate any Unrestricted Subsidiary to be a Restricted Subsidiary for purposes of
this Agreement (each, a “Subsidiary Redesignation”); provided, that (i) no Default has occurred and is continuing or would result therefrom, (ii) immediately after giving effect to such Subsidiary Redesignation, the
Borrower shall be in Pro Forma Compliance with the financial covenants set forth in Section 7.11 and (iii) the Borrower shall have delivered to the Administrative Agent an officer’s certificate executed by a Responsible Officer
of the Borrower, certifying compliance with the requirements of preceding clauses (i) and (ii), and containing the calculations and information required by the preceding clause (ii); provided, further, that no Unrestricted Subsidiary that
has been designated as a Restricted Subsidiary pursuant to a Subsidiary Redesignation may again be designated as an Unrestricted Subsidiary. 
 “U.S. Lender” has the meaning set forth in Section 10.15(b). 
 “U.S. Tax Law Change” means, as applied in respect of any Lender or Agent, as the case may be, the occurrence after the date it first became a party to this Agreement
(including, for the avoidance of doubt, by means of assignment) of the enactment of any applicable United States federal tax law or promulgation of any United States Treasury regulation or the entry into force, revocation or change or modification
of any income tax convention to which the United States is a party, or change in the administrative application or administrative or judicial interpretation of any of the foregoing. 

“Wakefield Bond Guaranty” means (i) the guaranty dated as of September 30, 2005 by the Borrower of the
7.6% Notes due September 15, 2017 issued by the City of Wakefield, Nebraska in an aggregate principal amount of $10,250,000, and (ii) the guaranty dated as of May 24, 2007 by the Borrower of the 8.2159% Notes due September 15,
2017 issued by the City of Wakefield, Nebraska in an aggregate principal amount of $6,000,000. 
 “Weighted Average
Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (i) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking
fund, serial maturity or 

  
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other required payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between
such date and the making of such payment; by (ii) the then outstanding principal amount of such Indebtedness. 

“wholly owned” means, with respect to a Subsidiary of a Person, a Subsidiary of such Person all of the
outstanding Equity Interests of which (other than (x) director’s qualifying shares and (y) shares issued to foreign nationals to the extent required by applicable Law) are owned by such Person and/or by one or more wholly owned
Subsidiaries of such Person. 
 1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan
Document, unless otherwise specified herein or in such other Loan Document: 
 (a) The meanings of defined terms
are equally applicable to the singular and plural forms of the defined terms. 
 (b) (i) The words
“herein,” “hereto,” “hereof” and “hereunder” and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular
provision thereof. 
 (ii) Article, Section, Exhibit and Schedule references are to the Loan Document in which
such reference appears. 
 (iii) The term “including” is by way of example and not limitation.

 (iv) The term “documents” includes any and all instruments, documents, agreements,
certificates, notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form. 
 (c) In the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and
“until” each mean “to but excluding;” and the word “through” means “to and including.” 
 (d) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 

1.03 Accounting Terms. 
 (a) All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required
to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP, as in effect for the period to which the Audited Financial Statements relate, applied in a manner consistent with that used in preparing the Audited Financial
Statements, except as otherwise specifically prescribed herein. 
 (b) If at any time any change in GAAP or the
application thereof would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either 

  
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the Borrower or the Required Lenders shall so request, the Administrative Agent and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent
thereof in light of such change in GAAP or the application thereof (subject to the approval of the Required Lenders); provided, that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP
or the application thereof prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent and the Lenders a written reconciliation in form and substance reasonably satisfactory to the Administrative Agent, between
calculations of such ratio or requirement made before and after giving effect to such change in GAAP or the application thereof. 
 1.04 Rounding. Any financial ratios required to be maintained by the Borrower pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying
the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 

1.05 References to Agreements and Laws. Unless otherwise expressly provided herein, (a) references to Organization Documents,
agreements (including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments,
restatements, extensions, supplements and other modifications are permitted by any Loan Document; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or
interpreting such Law. 
 1.06 Times of Day. Unless otherwise specified, all references herein to times of day shall be
references to Eastern time (daylight or standard, as applicable). 
 1.07 Timing of Payment or Performance. When the
payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as specifically provided in
Section 2.12 or as described in the definition of Interest Period) or performance shall extend to the immediately succeeding Business Day. 
 1.08 Currency Equivalents Generally. Any amount specified in this Agreement (other than in Articles II, IX and X) or any of the other Loan Documents to be in Dollars shall
also include the equivalent of such amount in any currency other than Dollars, such equivalent amount to be determined at the rate of exchange quoted by Bank of America in Charlotte, North Carolina at the close of business on the Business Day
immediately preceding any date of determination thereof, to prime banks in New York, New York for the spot purchase in the New York foreign exchange market of such amount in Dollars with such other currency. 

1.09 Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to
be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more
automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be 

  
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the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 

1.10 Pro Forma Calculations. Notwithstanding anything to the contrary herein, the Total Leverage Ratio, the Total Senior Secured
Leverage Ratio, and the Interest Coverage Ratio shall be calculated (including, but not limited to, for purposes of Sections 2.14(e)(iv), 2.15(e)(iv) and 2.16(d)(vii)) on a Pro Forma Basis with respect to each Specified
Transaction occurring during the applicable four quarter period to which such calculation relates, or subsequent to the end of such four-quarter period but not later than the date of such calculation; provided that notwithstanding the foregoing,
when calculating the Total Leverage Ratio, the Total Senior Secured Leverage Ratio and the Interest Coverage Ratio, as applicable, for purposes of (i) determining the applicable percentage of Excess Cash Flow set forth in
Section 2.05 and (ii) determining actual compliance (and not Pro Forma Compliance or compliance on a Pro Forma Basis) with any covenant pursuant to Section 7.11, the events described in the definition of Pro Forma Basis
(and corresponding provisions of the definition of Consolidated EBITDA) that occurred subsequent to the end of the applicable four quarter period shall not be given pro forma effect. 

ARTICLE II 
 THE
COMMITMENTS AND CREDIT EXTENSIONS 
 2.01 The Loans. 

(a) [Reserved.] 
 (b) The Term B Borrowing. (i) Subject to the terms and conditions set forth herein, each Term B Lender severally agrees to make a single loan to the Borrower on the Effective Date in
an amount not to exceed such Term B Lender’s Term B Commitment. The Term B Borrowing shall consist of Term B Loans made simultaneously by the Term B Lenders in accordance with their respective Term B Commitments.
Amounts borrowed under this Section 2.01(b) and subsequently repaid or prepaid may not be reborrowed. Term B Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein. 

(ii) Notwithstanding anything in this Agreement to the contrary, upon the effectiveness of this Agreement: 

(A) Each Extending Term B Lender shall be deemed, automatically and without further act by any Person, to have converted
its Existing Term B Loans into Term B Loans in the amount of the lesser of (x) its Term B Commitment and (y) the aggregate outstanding principal amount of its Existing Term B Loans, and such conversion shall be deemed, automatically and
without further act by any Person, to constitute (1) a Borrowing by the Borrower of Term B Loans pursuant to this Section 2.01(b) and Section 2.02 and (2) a prepayment of Existing Term B Loans pursuant to Section 2.05(a)(i)
of the Existing Credit Agreement, in each case in such amount; 
 (B) Each Extending Term B Lender that provides
a Term B Commitment in an amount that is greater than the aggregate outstanding principal 

  
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amount of its Existing Term B Loans severally agrees to make Term B Loans to the Borrower on the Effective Date in accordance with Section 2.02, in an amount not to exceed such excess;

 (C) Each Term B Lender that is not an Extending Term B Lender severally agrees to make Term B Loans to the
Borrower on the Effective Date in accordance with Section 2.02, in an amount not to exceed its Term B Commitment; 
 (D) The initial Interest Periods in respect of the Term B Loans (including any Existing Term B Loans that are converted into the Term B Loans pursuant to Section 2.01(b)(ii)(A)) shall be as set forth
in a Committed Loan Notice delivered by the Borrower to the Administrative Agent in accordance with Section 2.02. 
 (E) Each Extending Term B Lender agrees that neither the provisions of Section 3.05 of the Existing Credit Agreement nor the provisions of Section 3.05 of this Agreement shall apply to
(x) the conversion of the Existing Term B Loans held by such Extending Term B Lender into Term B Loans pursuant to this Section 2.01(b)(ii) or (y) the repayment of the Existing Term B Loans held by such Extending Term B Lender
pursuant to Section 4.01 and subsequent purchase of Term B Loans by such Extending Term B Lender within 30 days following the Effective Date. 
 (c) The Revolving Credit Borrowings. (i) Subject to the terms and conditions set forth herein, (A) each Extending Revolving Credit Lender severally agrees to make loans (each such loan,
an “Extended Revolving Credit Loan”) to the Borrower from time to time, on any Business Day until the Extended Revolver Maturity Date, in an aggregate amount not to exceed at any time outstanding the amount of such
Lender’s Extended Revolving Credit Commitment; provided, however, that after giving effect to any Extended Revolving Credit Borrowing, (1) the Total Outstandings under the Revolving Credit Facility shall not exceed the
Aggregate Commitments thereunder and (2) the aggregate Outstanding Amount of the Extended Revolving Credit Loans of any Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such
Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Extended Revolving Credit Commitment and (B) each Non-Extending Revolving Credit Lender severally agrees to make loans (each such
loan, a “Non-Extended Revolving Credit Loan”) to the Borrower from time to time, on any Business Day until the Initial Revolver Maturity Date, in an aggregate amount not to exceed at any time outstanding the amount of such
Lender’s Non-Extended Revolving Credit Commitment; provided, however, that after giving effect to any Non-Extended Revolving Credit Borrowing, (1) the Total Outstandings under the Revolving Credit Facility shall not exceed
the Aggregate Commitments thereunder and (2) the aggregate Outstanding Amount of the Non-Extended Revolving Credit Loans of any Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus
such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Non-Extended Revolving Credit Commitment. Within the limits of each Lender’s Revolving Credit Commitment, and subject to the
other terms and conditions hereof, the Borrower may borrow 

  
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under this Section 2.01(c), prepay under Section 2.05, and reborrow under this Section 2.01(c). Revolving Credit Loans may be Base Rate Loans or Eurodollar
Rate Loans, as further provided herein. For the avoidance of doubt, (a) prior to the Initial Revolver Maturity Date, all borrowings of Revolving Credit Loans under this Section 2.01(c) shall be made by each Revolving Credit Lender with a
Revolving Credit Commitment based on each such Revolving Credit Lender’s Pro Rata Share of the Revolving Credit Facility without regard to the Class of the Revolving Credit Commitments held by such Revolving Credit Lender , and
(b) commencing on the Effective Date, (i) each Revolving Credit Loan and each Revolving Credit Commitment of an Extending Revolving Credit Lender shall be treated for all purposes of this Agreement as an Extended Revolving Credit Loan and
an Extended Revolving Credit Commitment, respectively, and (ii) each Revolving Credit Loan and each Revolving Credit Commitment of a Non-Extending Revolving Credit Lender shall be treated for all purposes of this Agreement as a Non-Extended
Revolving Credit Loan and a Non-Extended Revolving Credit Commitment, respectively. 
 (ii) Notwithstanding
anything in this Agreement to the contrary, upon the effectiveness of this Agreement: 
 (A) If, as of the
Effective Date, there are any Letters of Credit or Swing Line Loans outstanding, each Revolving Credit Lender (each, an “Effective Date Assignor”) will automatically and without further act be deemed to have assigned to each other
Revolving Credit Lender (each, an “Effective Date Assignee”), and each such Effective Date Assignee will automatically and without further act be deemed to have assumed, a portion of such Effective Date Assignor’s
participations hereunder in outstanding Letters of Credit and Swing Line Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding (A) participations
hereunder in Letters of Credit and (B) participations hereunder in Swing Line Loans held by each Revolving Credit Lender will equal the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such
Revolving Credit Lender’s Revolving Credit Commitment; 
 (B) If, as of the Effective Date, there are any
Revolving Credit Loans outstanding, each Effective Date Assignor will automatically and without further act be deemed to have assigned to each Effective Date Assignee, and each such Effective Date Assignee will automatically and without further act
be deemed to have assumed, a portion of such Effective Date Assignor’s Revolving Credit Loans such that, after giving effect to each such deemed assignment and assumption, the percentage of the aggregate outstanding Revolving Credit Loans held
by each Revolving Credit Lender will equal the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such Revolving Credit Lender’s Revolving Credit Commitment; and 

(C) Each Revolving Credit Lender agrees that neither the provisions of Section 3.05 of the Existing Credit Agreement
nor the provisions of Section 3.05 of this Agreement shall apply to the conversion of the Existing Revolving Credit 

  
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Loans held by such Revolving Credit Lender into Revolving Credit Loans pursuant to this Section 2.01(c)(ii). 

(iii) The assignments and assumptions contemplated by this Section 2.01(c), (i) shall be effected automatically
without further action by any Person and shall be deemed to have been consummated in accordance with Section 10.07 hereof and (ii) shall be effected by book entry in the Register by the Administrative Agent in each case in such manner, and
with such supporting documentation, as may be determined by the Administrative Agent. 
 2.02 Borrowings, Conversions and
Continuations of Loans. 
 (a) Each Term B Borrowing, each Revolving Credit Borrowing, each conversion of Term B Loans
or Revolving Credit Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be
received by the Administrative Agent not later than 12:30 p.m. (Charlotte, North Carolina time) (i) three (3) Business Days prior to the requested date of any Borrowing of, conversion of Base Rate Loans to, or continuation of,
Eurodollar Rate Loans, or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) one (1) Business Day before the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Borrower wishes to request
Eurodollar Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than
12:30 p.m. (Charlotte, North Carolina time) four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Appropriate Lenders of such request and
determine whether the requested Interest Period is acceptable to all of them. Not later than 12:30 p.m. (Charlotte, North Carolina time) three Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative
Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be
confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Except with respect to the conversion of the Existing Term B Loans into Term
B Loans pursuant to Section 2.01(b)(ii) and the conversion of the Existing Revolving Loans into Revolving Loans pursuant to Section 2.01(c)(ii), each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a
principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c) and except with respect to the conversion of the Existing Term B Loans into Term B Loans
pursuant to Section 2.01(b)(ii) and the conversion of the Existing Revolving Loans into Revolving Loans pursuant to Section 2.01(c)(ii), each Borrowing of, or conversion to, Base Rate Loans shall be in a principal amount of $500,000 or a
whole multiple of $100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Term B Borrowing, a Revolving Credit Borrowing, a conversion of Term B Loans or
Revolving Credit Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the

  
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principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Term B Loans or Revolving Credit Loans are to be converted, and
(v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation,
then the applicable Term B Loans or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect
to the applicable Eurodollar Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified
an Interest Period of one (1) month. Notwithstanding anything to the contrary herein, a Swing Line Loan may not be converted to a Eurodollar Rate Loan. 
 (b) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Pro Rata Share of the applicable Term B Loans or Revolving Credit
Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in Section 2.02(a). In
the case of a Term B Borrowing or a Revolving Credit Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later
than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension,
Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of
America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided, however, that
if, on the date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are Swing Line Loans or L/C Borrowings outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full
of any such L/C Borrowings, second, to the payment in full of any such Swing Line Loans, and third, to the Borrower as provided above. 
 (c) Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurodollar Rate Loan unless the Borrower pays the amount
due under Section 3.05 in connection therewith. During the existence of an Event of Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without the consent of the Required Lenders. 

(d) The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period
for Eurodollar Rate Loans upon determination of such interest rate. The determination of the Eurodollar Rate by the Administrative Agent shall be conclusive in the absence of manifest error. At any time that Base Rate Loans are outstanding, the
Administrative Agent shall notify the Borrower and the Lenders of any change in Bank of America’s prime rate used in determining the Base Rate promptly following the public announcement of such change. 

  
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 (e) After giving effect to all Term B Borrowings, all Revolving Credit Borrowings, all
conversions of Term B Loans or Revolving Credit Loans from one Type to the other, and all continuations of Term B Loans or Revolving Credit Loans as the same Type, there shall not be more than fifteen (15) Interest Periods in effect.

 (f) The failure of any Lender to make the Loan to be made by it as part of any Borrowing shall not relieve any other Lender
of its obligation, if any, hereunder to make its Loan on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender on the date of any Borrowing. 

2.03 Letters of Credit. 
 (a) The Letter of Credit Commitment. (i) Subject to the terms and conditions set forth herein, (A) each L/C Issuer agrees, in reliance upon the agreements of the other Revolving Credit
Lenders set forth in this Section 2.03, (1) from time to time on any Business Day during the period from the Effective Date until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of the Borrower and
to amend or renew Letters of Credit previously issued by it, in accordance with Section 2.03(b), and (2) to honor drafts under the Letters of Credit; and (B) the Revolving Credit Lenders severally agree to participate in
Letters of Credit issued for the account of the Borrower; provided, that no L/C Issuer shall be obligated to make any L/C Credit Extension with respect to any Letter of Credit, and no Lender shall be obligated to participate in any Letter of
Credit if as of the date of such L/C Credit Extension, (w) the Total Outstandings would exceed the Aggregate Commitments, (x) the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Lender’s Pro
Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans would exceed such Lender’s Revolving Credit Commitment, (y) the Outstanding Amount
of the L/C Obligations would exceed the Letter of Credit Sublimit, or (z) the sum of the L/C Obligations in respect of Letters of Credit that expire after the Initial Revolver Maturity Date plus the aggregate Outstanding Amount of the
Extended Revolving Credit Loans shall not exceed the sum of the aggregate Extended Revolving Credit Commitments. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit
shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. All Existing Letters of Credit shall be
deemed to have been issued pursuant hereto, and from and after the Effective Date shall be subject to and governed by the terms and conditions hereof. Notwithstanding anything contained in this Section 2.03 to the contrary, each
Non-Extending Revolving Credit Lender’s participations in Letters of Credit that expire after the Initial Revolver Maturity Date shall terminate upon the Initial Revolver Maturity Date, and the participations of the Extending Revolving Credit
Lenders shall be automatically adjusted to give effect to the Pro Rata Shares of the Extending Revolving Credit Lenders in the Revolving Credit Facility after giving effect to the Initial Revolver Maturity Date. 

(ii) No L/C Issuer shall be under any obligation to issue any Letter of Credit if: 

  
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 (A) any order, judgment or decree of any Governmental Authority or
arbitrator shall by its terms purport to enjoin or restrain such L/C Issuer from issuing such Letter of Credit, or any Law applicable to such L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental
Authority with jurisdiction over such L/C Issuer shall prohibit, or request that such L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such L/C Issuer with respect to
such Letter of Credit any restriction, reserve or capital requirement (for which such L/C Issuer is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon such L/C Issuer any unreimbursed loss, cost or expense
which was not applicable on the Effective Date and which, in each case, such L/C Issuer in good faith deems material to it; 
 (B) subject to Section 2.03(b)(iii), the expiry date of such requested Letter of Credit would occur more than twelve (12) months after the date of issuance or last renewal, unless the
Required Revolving Lenders have approved such expiry date; 
 (C) the expiry date of such requested Letter of
Credit would occur after the Letter of Credit Expiration Date, unless all the Revolving Credit Lenders have approved such expiry date; 
 (D) the issuance of such Letter of Credit would violate one or more policies of such L/C Issuer; 
 (E) such Letter of Credit is in an initial stated amount less than $50,000, in the case of a commercial Letter of Credit, or $50,000, in the case of a standby Letter of Credit, or such Letter of Credit is
to be denominated in a currency other than Dollars; or 
 (F) any Lender is at that time a Defaulting Lender,
unless the L/C Issuer has entered into arrangements, including the delivery of Cash Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate the L/C Issuer’s actual or potential Fronting
Exposure (after giving effect to Section 2.18(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which the L/C
Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion. 
 (iii) No L/C Issuer
shall be under any obligation to amend any Letter of Credit if (A) such L/C Issuer would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of
Credit does not accept the proposed amendment to such Letter of Credit. 
 (iv) Each L/C Issuer shall act on
behalf of the Revolving Credit Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and each L/C Issuer shall have all of the benefits and immunities (A) provided to the

  
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Administrative Agent in Article IX with respect to any acts taken or omissions suffered by such L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and
Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX included each L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with
respect to each L/C Issuer. 
 (v) It is agreed that, in the case of the issuance of any commercial letter of
credit, such commercial letter of credit shall in no event provide for time drafts or bankers’ acceptances. 
 (b)
Procedures for Issuance and Amendment of Letters of Credit; Auto-Renewal Letters of Credit. 
 (i) Each
Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the applicable L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed
and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application must be received by the applicable L/C Issuer and the Administrative Agent not later than 12:30 p.m. at least two (2) Business Days (or such later date and
time as such L/C Issuer and the Administrative Agent may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a
Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the applicable L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any
certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such other matters as the applicable L/C Issuer may reasonably request. In the case of a request for an amendment of any outstanding Letter of Credit,
such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the applicable L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day);
(3) the nature of the proposed amendment; and (4) such other matters as the applicable L/C Issuer may reasonably request. 
 (ii) Promptly after receipt of any Letter of Credit Application, the applicable L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has
received a copy of such Letter of Credit Application from the Borrower and, if not, such L/C Issuer will provide the Administrative Agent with a copy thereof. Upon receipt by such L/C Issuer of confirmation from the Administrative Agent that the
requested issuance or amendment is permitted in accordance with the terms hereof, then, subject to the terms and conditions hereof, such L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into
the applicable amendment, as the case may be. Immediately upon the issuance of each Letter of Credit, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the applicable L/C Issuer a
risk 

  
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participation in such Letter of Credit in an amount equal to the product of such Lender’s Pro Rata Share times the amount of such Letter of Credit. 

(iii) If the Borrower so requests in any applicable Letter of Credit Application, the applicable L/C Issuer may, in its
sole and absolute discretion, agree to issue a Letter of Credit that has automatic renewal provisions (each, an “Auto-Renewal Letter of Credit”); provided, that any such Auto-Renewal Letter of Credit must permit such
L/C Issuer to prevent any such renewal at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Nonrenewal
Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the applicable L/C Issuer, the Borrower shall not be required to make a specific request to such
L/C Issuer for any such renewal. Once an Auto-Renewal Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the applicable L/C Issuer to permit the renewal of such Letter of Credit at any time to an
expiry date not later than the Letter of Credit Expiration Date; provided, however, that such L/C Issuer shall not permit any such renewal if (A) such L/C Issuer has determined that it would have no obligation at such time to
issue such Letter of Credit in its renewed form under the terms hereof (by reason of the provisions of Section 2.03(a)(ii) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day
that is five (5) Business Days before the Nonrenewal Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such renewal or (2) from the Administrative Agent, any Revolving Credit Lender or
the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied. 
 (iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the applicable L/C Issuer will also
(A) deliver to the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment, and (B) notify each Revolving Credit Lender of such issuance or amendment and the amount of such
Revolving Credit Lender’s Pro Rata Share therein, and upon a specific request by any Revolving Credit Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit or amendment. 

(c) Drawings and Reimbursements; Funding of Participations. 

(i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the
applicable L/C Issuer shall notify the Borrower and the Administrative Agent thereof. If such L/C Issuer notifies the Borrower of such payment prior to 11:00 a.m. (Charlotte, North Carolina time) on the date of any payment by such L/C Issuer
under a Letter of Credit (each such date, an “Honor Date”), the Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing; provided, that if such notice
is not provided to the Borrower prior to 11:00 a.m. (Charlotte, North Carolina time) on the Honor Date, then the Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing on the
next succeeding Business Day and 

  
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such extension of time shall be reflected in computing fees in respect of any such Letter of Credit. If the Borrower fails to so reimburse such L/C Issuer by such time, the Administrative Agent
shall promptly notify each Revolving Credit Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Revolving Credit Lender’s Pro Rata Share thereof. In such
event, the Borrower shall be deemed to have requested a Revolving Credit Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in
Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Revolving Credit Commitments and the conditions set forth in Section 4.02 (other than the delivery of a
Committed Loan Notice). Any notice given by an L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided, that the lack of such an immediate
confirmation shall not affect the conclusiveness or binding effect of such notice. 
 (ii) Each Revolving Credit
Lender (including each Lender acting as an L/C Issuer) shall upon any notice pursuant to Section 2.03(c)(i) make funds available (and the Administrative Agent may apply Cash Collateral provided for this purpose) for the account of the
applicable L/C Issuer at the Administrative Agent’s Office in an amount equal to its Pro Rata Share of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject
to the provisions of Section 2.03(c)(iii), each Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so
received to the applicable L/C Issuer. 
 (iii) With respect to any Unreimbursed Amount that is not fully
refinanced by a Revolving Credit Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the applicable L/C Issuer an
L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Revolving Credit
Lender’s payment to the Administrative Agent for the account of the applicable L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C
Advance from such Lender in satisfaction of its participation obligation under this Section 2.03. 

(iv) Until each Revolving Credit Lender funds its Revolving Credit Loan or L/C Advance pursuant to this
Section 2.03(c) to reimburse the applicable L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Pro Rata Share of such amount shall be solely for the account of such L/C Issuer.

 (v) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or L/C Advances to reimburse
the applicable L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff,

  
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counterclaim, recoupment, defense or other right which such Lender may have against such L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or
continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Credit Lender’s obligation to make Revolving Credit Loans
pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other than delivery by the Borrower of a Committed Loan Notice ). No such making of an L/C Advance shall relieve or otherwise impair the
obligation of the Borrower to reimburse the applicable L/C Issuer for the amount of any payment made by the applicable L/C Issuer under any Letter of Credit, together with interest as provided herein. 

(vi) If any Revolving Credit Lender fails to make available to the Administrative Agent for the account of the applicable
L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), then, without limiting the other provisions of this
Agreement, such L/C Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment
is immediately available to such L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate from time to time in effect and a rate reasonably determined by such L/C Issuer in accordance with banking industry rules on
interbank compensation, plus any reasonable administrative, processing or similar fees customarily charged by such L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid
shall constitute such Lender’s Loan included in the relevant Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the applicable L/C Issuer submitted to any Revolving Credit Lender (through the
Administrative Agent) with respect to any amounts owing under this Section 2.03(c)(vi) shall be conclusive absent manifest error. 
 (d) Repayment of Participations. 
 (i) If, at any time after
an L/C Issuer has made a payment under any Letter of Credit issued by it and has received from any Revolving Credit Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the
Administrative Agent receives for the account of such L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by
the Administrative Agent), the Administrative Agent will distribute to such Lender its Pro Rata Share thereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s L/C Advance was
outstanding) in the same funds as those received by the Administrative Agent. For the avoidance of doubt, prior to the Initial Revolver Maturity Date, all distributions under this Section 2.03(d)(i) shall be made to each applicable
Revolving Credit Lender with a Revolving Credit Commitment based on each such Revolving Credit Lender’s Pro Rata Share of the Revolving Credit Facility without regard to the Class of the Revolving Credit Commitments held by such Revolving
Credit Lender, and after the Initial Revolver Maturity Date, all distributions under this Section 2.03(d)(i) shall be made to each applicable Extending Revolving 

  
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Credit Lender with an Extended Revolving Credit Commitment based on each such Extending Revolving Credit Lender’s Pro Rata Share (as adjusted pursuant to the last sentence of
Section 2.03(a)(i)) of the Revolving Credit Facility after giving effect to the Initial Revolver Maturity Date. 
 (ii) If any payment received by the Administrative Agent for the account of an L/C Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in
Section 10.06 (including pursuant to any settlement entered into by such L/C Issuer in its discretion), each Revolving Credit Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share thereof on
demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the
Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 
 (e)
Obligations Absolute. The obligation of the Borrower to reimburse the applicable L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid
strictly in accordance with the terms of this Agreement under all circumstances, including the following: 
 (i)
any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other agreement or instrument relating thereto; 
 (ii) the existence of any claim, counterclaim, setoff, defense or other right that the Borrower may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for
whom any such beneficiary or any such transferee may be acting), the applicable L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or
instrument relating thereto, or any unrelated transaction; 
 (iii) any draft, demand, certificate or other
document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any
document required in order to make a drawing under such Letter of Credit; 
 (iv) any payment by the applicable
L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the applicable L/C Issuer under such Letter of Credit to any Person
purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising
in connection with any proceeding under any Debtor Relief Law; 

  
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 (v) any exchange, release or nonperfection of any Collateral, or any release
or amendment or waiver of or consent to departure from the Guaranty or any other guarantee, for all or any of the Obligations of the Borrower in respect of such Letter of Credit; or 

(vi) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower. 
 The Borrower shall promptly examine a
copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will promptly notify the applicable L/C
Issuer. The Borrower shall be conclusively deemed to have waived any such claim against any L/C Issuer and its correspondents unless such notice is given as aforesaid. 
 (f) Role of L/C Issuer. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the applicable L/C Issuer shall not have any responsibility to obtain any document
(other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such
document. None of the applicable L/C Issuer, any Agent-Related Person nor any of the respective correspondents, participants or assignees of the applicable L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in
connection herewith at the request or with the approval of the Revolving Credit Lenders or the Required Revolving Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or
(iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Letter of Credit Application. The Borrower hereby assumes all risks of the acts or omissions of any beneficiary
or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against the
beneficiary or transferee at law or under any other agreement. None of the applicable L/C Issuer, any Agent-Related Person, nor any of the respective correspondents, participants or assignees of such L/C Issuer, shall be liable or responsible for
any of the matters described in clauses (i) through (v) of Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against
such L/C Issuer, and such L/C Issuer may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by such L/C
Issuer’s willful misconduct or gross negligence or such L/C Issuer’s willful or grossly negligent failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly
complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the applicable L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further
investigation, regardless of any notice or information to the contrary, and such L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit
or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. 

  
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 (g) Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the
applicable L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the “International Standby Practices 1998” published by the Institute
of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance) shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary
Credits, as most recently published by the International Chamber of Commerce (the “ICC”) at the time of issuance shall apply to each commercial Letter of Credit. 

(h) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender in
accordance with its Pro Rata Share, a Letter of Credit fee for each Letter of Credit equal to the Applicable Rate then in effect for Eurodollar Rate Loans with respect to the Revolving Credit Facility times the daily maximum amount then
available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided,
however, that any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant
to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to
Section 2.18(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such letter of credit fees shall be computed on a quarterly basis in arrears. Such letter of credit fees shall be due and payable
on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there
is any change in the Applicable Rate during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in
effect. 
 (i) Fronting Fee and Documentary and Processing Charges Payable to an L/C Issuer. The
Borrower shall pay directly to the applicable L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit issued by such L/C Issuer, at a rate to be separately agreed between the applicable L/C Issuer and
the Borrower (but in any event not to exceed 0.125% per annum), computed on the amount of such Letter of Credit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the
stated amount of such Letter of Credit, at a rate to be separately agreed between the Borrower and the applicable L/C Issuer (but in any event not to exceed 0.125% per annum), computed on the amount of such increase, and payable upon the
effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at a rate to be separately agreed between the applicable L/C Issuer and the Borrower (but in any event not to exceed 0.125% per annum), computed on
the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the tenth (10th) Business Day after the end of each March, June, September and December in respect of the most recently-ended
quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of
computing the daily 

  
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amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.09. In addition, the Borrower shall pay
directly to the applicable L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in
effect. Such customary fees and standard costs and charges are due and payable within five (5) Business Days of demand and are nonrefundable. 
 (j) Conflict with Letter of Credit Application. In the event of any conflict between the terms hereof and the terms of any Letter of Credit Application, the terms hereof shall control. 

2.04 Swing Line Loans. 
 (a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of the other Lenders set forth in this Section 2.04, may
in its sole discretion make loans (each such loan, a “Swing Line Loan”) to the Borrower from time to time on any Business Day until the Maturity Date in an aggregate amount not to exceed at any time outstanding the amount of
the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Pro Rata Share of the Outstanding Amount of Loans and L/C Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such
Lender’s Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Revolving
Credit Loans of any Revolving Credit Lender, plus such Revolving Credit Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations at such time, plus such Revolving Credit Lender’s Pro Rata Share of the
Outstanding Amount of all Swing Line Loans at such time shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment; provided, further, that the Borrower shall not use the proceeds of any Swing Line Loan to
refinance any outstanding Swing Line Loan. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this
Section 2.04. Each Swing Line Loan shall bear interest only at a rate based on the Base Rate. Immediately upon the making of a Swing Line Loan, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally
agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Credit Lender’s Pro Rata Share times the amount of such Swing Line Loan. Notwithstanding
anything contained in this Section 2.04(a) to the contrary, each Non-Extending Revolving Credit Lender’s participations in Swing Line Loans that expire after the Initial Revolver Maturity Date shall terminate upon the Initial
Revolver Maturity Date, and the participations of the Extending Revolving Credit Lenders shall be automatically adjusted to give effect to the Pro Rata Shares of the Extending Revolving Credit Lenders in the Revolving Credit Facility after giving
effect to the Initial Revolver Maturity Date. 
 (b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon
the Borrower’s irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by telephone. Each such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the
requested borrowing date, and shall 

  
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specify (i) the amount to be borrowed, which shall be a minimum of $100,000, and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be
confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line Lender of
any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will
notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Revolving Credit
Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence of
Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on
the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower. 

(c) Refinancing of Swing Line Loans. 
 (i) The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swing Line Lender to so request on its behalf),
that each Revolving Credit Lender make a Base Rate Loan in an amount equal to such Lender’s Pro Rata Share of the amount of Swing Line Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a
Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized
portion of the Revolving Credit Facility and the conditions set forth in Section 4.02. The Swing Line Lender shall furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the
Administrative Agent. Each Revolving Credit Lender shall make an amount equal to its Pro Rata Share of the amount specified in such Committed Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative
Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the day specified in such Committed Loan Notice,
whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so
received to the Swing Line Lender. 
 (ii) If for any reason any Swing Line Loan cannot be refinanced by such a
Revolving Credit Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Revolving
Credit Lenders fund its risk participation in the relevant Swing Line Loan and each Revolving Credit Lender’s 

  
 77 

 
payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such participation. 

(iii) If any Revolving Credit Lender fails to make available to the Administrative Agent for the account of the Swing Line
Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swing Line Lender shall be entitled to recover from such
Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swing Line Lender at a rate per
annum equal to the greater of the Federal Funds Rate from time to time in effect and a rate reasonably determined by the Swing Line Lender in accordance with banking industry rules on interbank compensation, plus any reasonable administrative,
processing or similar fees customarily charged by the Swing Line Lender in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s committed Loan
included in the relevant committed Borrowing or funded participation in the relevant Swing Line Loan, as the case may be. A certificate of the Swing Line Lender submitted to any Lender (through the Administrative Agent) with respect to any amounts
owing under this clause (iii) shall be conclusive absent manifest error. 
 (iv) Each Revolving
Credit Lender’s obligation to make Revolving Credit Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any
circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or
continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Credit Lender’s obligation to make Revolving Credit Loans
pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.02. No such funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans,
together with interest as provided herein. 
 (d) Repayment of Participations. 

(i) At any time after any Revolving Credit Lender has purchased and funded a risk participation in a Swing Line Loan, if
the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Pro Rata Share of such payment (appropriately adjusted, in the case of interest payments, to reflect the period
of time during which such Lender’s risk participation was funded) in the same funds as those received by the Swing Line Lender. For the avoidance of doubt, prior to the Initial Revolver Maturity Date, all distributions under this
Section 2.04(d)(i) shall be made to each applicable Revolving Credit Lender with a Revolving Credit Commitment based on each such Revolving Credit Lender’s Pro Rata Share of the Revolving Credit Facility without regard to the Class
of the Revolving Credit Commitments held by such Revolving Credit Lender, and after the Initial 

  
 78 

 
Revolver Maturity Date, all distributions under this Section 2.04(d)(i) shall be made to each applicable Extending Revolving Credit Lender with an Extended Revolving Credit Commitment
based on each such Extending Revolving Credit Lender’s Pro Rata Share (as adjusted pursuant to the last sentence of Section 2.03(a)(i)) of the Revolving Credit Facility after giving effect to the Initial Revolver Maturity Date.

 (ii) If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line
Loan is required to be returned by the Swing Line Lender under any of the circumstances described in Section 10.06 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Revolving Credit
Lender shall pay to the Swing Line Lender its Pro Rata Share thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds
Rate. The Administrative Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the Borrower for interest
on the Swing Line Loans. Until each Revolving Credit Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Pro Rata Share of any Swing Line Loan, interest in respect of such
Pro Rata Share shall be solely for the account of the Swing Line Lender. 
 (f) Payments Directly to Swing Line Lender.
The Borrower shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender. 
 2.05 Prepayments. 
 (a) Optional. 

(i) The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Loans
in whole or in part without premium or penalty (subject to the last sentence of this Section 2.05(a)(i)); provided, that (1) such notice must be received by the Administrative Agent not later than 12:30 p.m. (Charlotte,
North Carolina time) (A) three (3) Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) one (1) Business Day prior to the date of prepayment of Base Rate Loans; (2) any prepayment of Eurodollar Rate
Loans shall be in a principal amount of $2,000,000 or a whole multiple of $500,000 in excess thereof; and (3) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in
each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are to be prepaid, the Interest
Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s ratable portion of such prepayment (based on such Lender’s Pro Rata Share of the
relevant Facility). If such notice is given by the Borrower, the Borrower shall make such 

  
 79 

 
prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued
interest thereon, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.18, each prepayment of the outstanding Term B Loans or the New Term Loans, as the case may be, pursuant to this
Section 2.05(a) shall be applied in direct order of maturities to the principal repayment installments (or proportional fractions thereof) applicable to each of the Term B Loans or each of the New Term Loans, as the case may be, pursuant
to Sections 2.07(b) or as otherwise directed by the Borrower; and each such prepayment shall be paid to the Lenders in accordance with their respective Pro Rata Shares. Notwithstanding the foregoing, to the extent the Borrower makes a
prepayment of Term B Loans pursuant to this Section 2.05(a)(i) either (x) with the proceeds of Indebtedness having an interest rate that is lower than the interest rate then applicable to the Term B Facility or (y) in
connection with an amendment of this Agreement that amends the interest rate then applicable to the Term B Facility or adds a new tranche or facility under this agreement having an interest rate that is lower than the interest rate then applicable
to the Term B Facility, in each case on or prior to date that is six months following the Effective Date, the Borrower shall pay a premium of 1% of the aggregate principal amount of such Term B Loans prepaid. 

(ii) The Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or from
time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided, that (A) such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. (Charlotte,
North Carolina time) on the date of the prepayment, and (B) any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify the date and amount of such prepayment. If such notice is given by the Borrower,
the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. 
 (iii) Notwithstanding anything to the contrary contained in this Agreement, the Borrower may rescind any notice of prepayment under Section 2.05(a)(i) or (a)(ii) if such prepayment
would have resulted from a refinancing of all of the Facilities, which refinancing shall not be consummated or shall otherwise be delayed. 
 (iv) For the avoidance of doubt, prior to the Initial Revolver Maturity Date, the amount of any prepayment of Revolving Credit Loans pursuant to this Section 2.05(a) shall be allocated among
the Revolving Credit Loans of each Revolving Credit Lender based on each such Revolving Credit Lender’s Pro Rata Share of the Revolving Credit Facility without regard to the Class of the Revolving Credit Commitments held by such Revolving
Credit Lender, and after the Initial Revolver Maturity Date, the amount of any prepayment of Revolving Credit Loans pursuant to this Section 2.05(a) shall be allocated among the Extended Revolving Credit Loans of each Extending Revolving
Credit Lender based on each such Extending Revolving Credit Lender’s Pro Rata Share of the Revolving Credit Facility after giving effect to the Initial Revolver Maturity Date. 

  
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 (b) Mandatory. 

(i) Within five (5) Business Days after financial statements have been delivered pursuant to
Section 6.01(a) and the related Compliance Certificate has been delivered pursuant to Section 6.02(b), the Borrower shall prepay an aggregate principal amount of Loans in an amount equal to (A) 50% (as may be adjusted
pursuant to the proviso below) of Excess Cash Flow for the fiscal year covered by such financial statements commencing with the fiscal year ended on or about December 31, 2011 minus (B) the aggregate amount of voluntary principal
prepayments of the Loans (except prepayments of (x) Swing Line Loans and (y) Revolving Credit Loans unless accompanied by a corresponding permanent commitment reduction of the Revolving Credit Facility and excluding amounts repurchased
pursuant to Dutch Auctions); provided, that such percentage shall be reduced to 25% or 0% if the Total Leverage Ratio as of the last day of the prior fiscal year was less than 4.5:1.00 or 3.5:1.00, respectively. 

(ii) (A) If (x) Holdings, the Borrower or any Restricted Subsidiary Disposes of any property or assets (other than
any Disposition of any property or assets by the Borrower or any of its Restricted Subsidiaries permitted by Section 7.05(a), (b), (c), (e), (g), (h), (i), (j) or (k)) or
(y) any Casualty Event occurs, and any transaction or series of related transactions described in the foregoing clauses (x) and (y) results in the realization or receipt by Holdings, the Borrower and its Restricted Subsidiaries of Net
Cash Proceeds in excess of $1,000,000 (any such transaction or series of related transactions being a “Relevant Transaction”), then if such Relevant Transaction, together with all other Relevant Transactions occurring in the same
fiscal year of the Borrower, would result in the realization or receipt by Holdings, the Borrower and its Restricted Subsidiaries of aggregate Net Cash Proceeds in excess of $5,000,000, the Borrower shall (1) give written notice to the
Administrative Agent thereof on or prior to the date of the realization or receipt of such Net Cash Proceeds and (2) except to the extent the Borrower elects in such notice to reinvest all or a portion of such Net Cash Proceeds in accordance
with Section 2.05(b)(ii)(B) (which election may only be made if no Event of Default has occurred and is then continuing), prepay an aggregate principal amount of Loans in an amount equal to 100% of all Net Cash Proceeds received from
such Relevant Transaction within two (2) Business Days of receipt thereof by Holdings, the Borrower or such Restricted Subsidiary. 
 (B) With respect to any Net Cash Proceeds realized or received with respect to any Disposition (other than as specifically excluded in Section 2.05(b)(ii)(A)) or any Casualty Event, at the
option of the Borrower, and so long as no Event of Default shall have occurred and be continuing, the Borrower may reinvest all or any portion of such Net Cash Proceeds in assets useful for its business within three hundred and sixty-five
(365) days following receipt of such Net Cash Proceeds (or, if Holdings, the Borrower or the relevant Restricted Subsidiary, as applicable, has contractually committed within 365 days following receipt of such Net Cash Proceeds to reinvest such
Net Cash Proceeds, 485 days following receipt of such Net Cash Proceeds); provided, however, that if any Net Cash Proceeds are no longer intended to be so reinvested at any time after delivery of a notice of reinvestment election, an
amount equal to any such Net 

  
 81 

 
Cash Proceeds shall be immediately applied to the prepayment of the Loans as set forth in this Section 2.05; provided, further, however, that no such Net Cash
Proceeds of a Casualty Event shall be reinvested for the repair or replacement of property damaged or lost in such Casualty Event if the net book value of such property exceeds $5,000,000 unless, after giving Pro Forma Effect to any Indebtedness to
be incurred in connection with such replacement or restoration, the Loan Parties would be in compliance with the financial covenants set forth in Section 7.11 as of the most recent fiscal quarter end preceding the date of determination.

 (iii) Upon the incurrence or issuance by the Borrower or any of its Restricted Subsidiaries of any Specified
Refinancing Debt or any Indebtedness not expressly permitted to be incurred or issued pursuant to Section 7.03, the Borrower shall prepay an aggregate principal amount of Loans in an amount equal to 100% of all Net Cash Proceeds received
therefrom immediately upon receipt thereof by the Borrower or such Restricted Subsidiary; provided that to the extent that, on or prior to the date that is six months following the Effective Date, the Borrower makes a prepayment of Term B Loans
pursuant to this Section 2.05(b)(iii) with the proceeds of Indebtedness having an interest rate that is lower than the interest rate then applicable to the Term B Facility, the Borrower shall also pay a premium of 1% of the aggregate
principal amount of such Term B Loans prepaid. 
 (iv) If for any reason the Total Revolving Credit Outstandings
at any time exceed the aggregate Revolving Credit Commitments then in effect, the Borrower shall immediately prepay Revolving Credit Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided,
however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(iv) unless after the prepayment in full of the Revolving Credit Loans and Swing Line Loans the Total
Revolving Credit Outstandings exceed the aggregate Revolving Credit Commitments then in effect. 
 (v) Subject to
Sections 2.16(d)(v) and 2.18, each prepayment of Loans pursuant to this Section 2.05(b) shall be applied pro rata among the Term B Facility and the New Term Facility and in each case to the principal repayment installments
thereof, first, in direct order of maturities, to the eight (8) next succeeding quarterly principal repayment installments of the Term B Facility and the New Term Facility that are due pursuant to Section 2.07,
second, on a pro rata basis, to the other principal repayment installments of the Term B Facility and the New Term Facility that are due pursuant to Section 2.07 (excluding the installment due on the Maturity Date) and,
third, to the principal repayment installment of the Term B Facility and the New Term Facility that is due pursuant to Section 2.07 on the Maturity Date; and each such prepayment shall be paid to the Term B Lenders in
accordance with their respective Pro Rata Shares. 
 (vi) Funding Losses, Etc. All prepayments under this
Section 2.05 shall be made together with, in the case of any such prepayment of a Eurodollar Rate Loan on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Eurodollar Rate Loan pursuant
to Section 3.05. Notwithstanding any of the other 

  
 82 

 
provisions of Section 2.05(b), so long as no Event of Default shall have occurred and be continuing, if any prepayment of Eurodollar Rate Loans is required to be made under this
Section 2.05(b), other than on the last day of the Interest Period therefor, the Borrower may, in its sole discretion, deposit the amount of any such prepayment otherwise required to be made thereunder into a Cash Collateral Account
until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of such Loans in
accordance with this Section 2.05(b). Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent shall also be authorized (without any further action by or notice to or from the Borrower or any other
Loan Party) to apply such amount to the prepayment of the outstanding Loans in accordance with this Section 2.05(b). 
 (vii) Foreign Dispositions. Notwithstanding any other provisions of this Section 2.05, (i) to the extent that any of or all the Net Cash Proceeds of any Disposition by a Foreign
Subsidiary (a “Foreign Disposition”) are prohibited or delayed by applicable local law from being repatriated to the United States, the portion of such Net Cash Proceeds so affected (any such portion being
“Restricted Proceeds”) will not be required to be applied to repay Loans at the times provided in this Section 2.05 but may be retained by the applicable Foreign Subsidiary so long, but only so long, as the
applicable local law will not permit repatriation to the United States (the Borrower hereby agreeing to cause the applicable Foreign Subsidiary to promptly take all actions required by the applicable local law to permit such repatriation), and once
such repatriation of any of such affected Net Cash Proceeds is permitted under the applicable local law, such repatriation will be immediately effected and such repatriated Net Cash Proceeds will be promptly (and in any event not later than two
Business Days after such repatriation) applied (net of additional taxes payable or reserved against as a result thereof) to the repayment of the Loans pursuant to this Section 2.05 and (ii) to the extent that the Borrower has
determined in good faith that repatriation of any of or all the Net Cash Proceeds of any Foreign Disposition would have material adverse tax cost consequences with respect to such Net Cash Proceeds, such Net Cash Proceeds so affected may be retained
by the applicable Foreign Subsidiary, provided that, in the case of this clause (ii), on or before the date on which any such Net Cash Proceeds so retained would otherwise have been required to be applied to reinvestments or prepayments
pursuant to Section 2.05(b), the Borrower applies an amount equal to such Net Cash Proceeds to such reinvestments or prepayments, as applicable, as if such Net Cash Proceeds had been received by the Borrower rather than such Foreign
Subsidiary, less the amount (any such amount being a “Retained Tax Amount”) of additional taxes that would have been payable or reserved against if such Net Cash Proceeds had been repatriated; provided that the
aggregate amount of Restricted Proceeds and Retained Tax Amounts not required to be applied to repay Loans pursuant to this clause (vii) shall not exceed $10,000,000 during the term of this Agreement. 

(c) Term B Opt-out. 
 With respect to any prepayment of the Term B Facility or the New Term Facility, as the case may be, pursuant to Section 2.05 (b), any Term B Lender or the Lender under the

  
 83 

 
New Term Facility, as the case may be, at its option, may elect not to accept such prepayment. Upon receipt by the Administrative Agent of any such prepayment of the Term B Facility or the New
Term Facility, as the case may be, the amount of the prepayment that is available to prepay the Term B Loans or the New Term Loans, as the case may be (the “Prepayment Amount”) shall be deposited in a Cash Collateral Account
on terms reasonably satisfactory to the Administrative Agent and the Borrower, pending application of such amount on the Prepayment Date as set forth below and promptly after the date of such receipt, the Administrative Agent shall notify the Term B
Lenders and the Lenders under the New Term Facility, if applicable, of the amount available to prepay the Term B Loans and the New Term Loans, as applicable, and the date on which such prepayment shall be made (the “Prepayment
Date”), which date shall be 10 Business Days after the date of such receipt. Any Lender declining such prepayment (a “Declining Lender”) shall give written notice to the Administrative Agent by 11:00 a.m. on the Business Day
immediately preceding the Prepayment Date. On the Prepayment Date, an amount equal to that portion of the Prepayment Amount accepted by the Term B Lenders and the Lenders under the New Term Loans other than the Declining Lenders (such Lenders being
the “Accepting Lenders”) to prepay Term B Loans and the New Term Loans, respectively, owing to such Accepting Lenders shall be withdrawn from the applicable Cash Collateral Account and applied ratably to prepay Term B Loans
and the New Term Loans, as applicable owing to such Accepting Lenders in the manner described in Section 2.05(b) for such prepayment. Any amounts that would otherwise have been applied to prepay Term B Loans and the New Term Loans owing to
Declining Lenders shall instead be retained by the Borrower (such amounts, “Declined Amounts”). 
 2.06
Termination or Reduction of Commitments. 
 (a) Optional. The Borrower may, upon written notice to the
Administrative Agent, terminate the unused portions of the Term B Commitments, the Letter of Credit Sublimit, or the unused Revolving Credit Commitments, or from time to time permanently reduce the unused portions of the Term B Commitments, the
Letter of Credit Sublimit, or the unused Revolving Credit Commitments; provided, that (i) any such notice shall be received by the Administrative Agent five (5) Business Days prior to the date of termination or reduction,
(ii) any such partial reduction shall be in an aggregate amount of $500,000 or any whole multiple of $100,000 in excess thereof and (iii) the Borrower shall not terminate or reduce (A) the Revolving Credit Facility if, after giving
effect thereto and to any concurrent prepayments hereunder, the Total Revolving Credit Outstandings would exceed the Revolving Credit Facility, (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C
Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, or (C) the Swing Line Sublimit if, after giving effect thereto and to any concurrent prepayments hereunder, the Outstanding Amount of Swing Line
Loans would exceed the Swing Line Sublimit. 
 (b) Mandatory. (i) [Reserved.] 

(ii) The aggregate Term B Commitments shall be automatically and permanently reduced to zero on the date of the
Term B Borrowing. 
 (iii)(A) The aggregate Non-Extended Revolving Credit Commitments shall be automatically
and permanently reduced to zero on the Initial Revolver Maturity Date and 

  
 84 

 
(B) the aggregate Extended Revolving Credit Commitments shall be automatically and permanently reduced to zero on the Extended Revolver Maturity Date. 

(iv) If after giving effect to any reduction or termination of unused Revolving Credit Commitments under this
Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Revolving Credit Facility at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically
reduced by the amount of such excess. 
 (c) Application of Commitment Reductions; Payment of Fees. The Administrative
Agent will promptly notify the Lenders of any termination or reduction of unused portions of the Term B Commitments, the Letter of Credit Sublimit, the unused Extended Revolving Credit Commitment or the unused Non-Extended Revolving Credit
Commitment under this Section 2.06. Upon any reduction of unused Commitments under a Facility, the Commitment of each Lender under such Facility shall be reduced by such Lender’s Pro Rata Share of the amount by which such Facility
is reduced (other than the termination of the Commitment of any Lender as provided in Section 3.07). All commitment fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date
of such termination. For the avoidance of doubt, prior to the Initial Revolver Maturity Date, subject to the foregoing provisions of this Section 2.06(c), reductions and terminations of Revolving Credit Commitments shall be allocated
among the Revolving Credit Commitments of each Revolving Credit Lender based on each such Revolving Credit Lender’s Pro Rata Share of the Revolving Credit Facility without regard to the Class of the Revolving Credit Commitments held by such
Revolving Credit Lender, and after the Initial Revolver Maturity Date, reductions and terminations of Revolving Credit Commitments shall be allocated among the Extended Revolving Credit Commitments of each Extending Revolving Credit Lender based on
each such Extending Revolving Credit Lender’s Pro Rata Share of the Revolving Credit Facility after giving effect to the Initial Revolver Maturity Date. 
 2.07 Repayment of Loans. 
 (a) [Reserved]. 

(b) Term B Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders the
aggregate principal amount of all Term B Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the
order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Term B Loans pursuant to Section 2.15 (such increased amortization payments to be calculated in
the same manner (and on the same basis) as the schedule set forth below for the Term B Loans made as of the Effective Date); 
  

					
	 Date
	  	Term B Loan
Principal
Amortization
Payment	 
	 6/30/2011
	  	$	2,100,000	  
	 9/30/2011
	  	$	2,100,000	  

  
 85 

					
	 12/31/2011
	  	$	2,100,000	  
	 3/31/2012
	  	$	2,100,000	  
	 6/30/2012
	  	$	2,100,000	  
	 9/30/2012
	  	$	2,100,000	  
	 12/31/2012
	  	$	2,100,000	  
	 3/31/2013
	  	$	2,100,000	  
	 6/30/2013
	  	$	2,100,000	  
	 9/30/2013
	  	$	2,100,000	  
	 12/31/2013
	  	$	2,100,000	  
	 3/31/2014
	  	$	2,100,000	  
	 6/30/2014
	  	$	2,100,000	  
	 9/30/2014
	  	$	2,100,000	  
	 12/31/2014
	  	$	2,100,000	  
	 3/31/2015
	  	$	2,100,000	  
	 6/30/2015
	  	$	2,100,000	  
	 9/30/2015
	  	$	2,100,000	  
	 12/31/2015
	  	$	2,100,000	  
	 3/31/2016
	  	$	2,100,000	  
	 6/30/2016
	  	$	2,100,000	  
	 9/30/2016
	  	$	2,100,000	  
	 12/31/2016
	  	$	2,100,000	  
	 3/31/2017
	  	$	2,100,000	  
	 6/30/2017
	  	$	2,100,000	  
	 9/30/2017
	  	$	2,100,000	  
	 12/31/2017
	  	$	2,100,000	  
	 Term B Maturity Date
	  	$	783,300,000	  

 provided, however, that
the final principal repayment installment of the Term B Loans shall be repaid on the Term B Maturity Date and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date.

 (c) Revolving Credit Loans. The Borrower shall repay (i) to the Extending Revolving Credit Lenders on the
Extended Revolver Maturity Date the aggregate principal 

  
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amount of all Extended Revolving Credit Loans outstanding on such date and (ii) to the Non-Extending Revolving Credit Lenders on the Initial Revolver Maturity Date the aggregate principal
amount of all Non-Extended Revolving Credit Loans outstanding on such date. 
 (d) Swing Line Loans. The Borrower shall
repay each Swing Line Loan on the earlier to occur of (i) the date ten Business Days after such Loan is made and (ii) the Extended Revolver Maturity Date. 
 2.08 Interest. 
 (a) Subject to the provisions of
Section 2.08(b), (i) each Eurodollar Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the sum of (A) the greater of
(x) the Eurodollar Rate for such Interest Period and (y) (1) in the case of the Revolving Credit Facility, 1.75% and (2) in the case of the Term B Facility, 1.25%, plus (B) the Applicable Rate for Eurodollar Rate
Loans under such Facility; (ii) each Base Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the sum of (A) the greater
of (x) (1) in the case of the Revolving Credit Facility 2.75% and (2) in the case of the Term B Facility, 2.25% and (y) the Base Rate, plus (B) the Applicable Rate for Base Rate Loans under such Facility; and
(iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the sum of (A) the greater of (x) 2.75% and (y) the Base
Rate plus (B) the Applicable Rate for Base Rate Loans under the Revolving Credit Facility. 
 (b) The Borrower shall
pay interest on the principal amount of all overdue Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. Accrued and unpaid interest on past
due amounts (including interest on past due interest) shall be due and payable upon demand. 
 (c) Interest on each Loan shall
be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before
and after the commencement of any proceeding under any Debtor Relief Law. 
 2.09 Fees. In addition to certain fees
described in Sections 2.03(i) and (j): 
 (a) Commitment Fee. The Borrower shall pay to
the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Pro Rata Share, a commitment fee equal to the Applicable Commitment Fee times the actual daily amount by which the aggregate Revolving Credit
Commitments exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans and (B) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The commitment fee shall accrue at all
times from the date hereof until the Maturity Date, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June,
September and December, commencing with the first such date to occur after the Effective Date, and 

  
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on the Maturity Date for the applicable Facility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual
daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. 
 (b) Other Fees. (i) The Borrower shall pay to the Arrangers and the Administrative Agent for their own respective accounts fees in the amounts and at the times specified in the Fee Letter.
Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 (ii) The
Borrower shall pay to the Lenders such fees as shall have been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

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

(a) All computations of interest for Base Rate Loans shall be made on the basis of a year of three hundred and
sixty-five (365) or three hundred and sixty-six (366) days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a three hundred and sixty (360) day year and
actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a three hundred and sixty-five (365) day year). Interest shall accrue on each Loan for the day on which the Loan is made,
and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided, that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear
interest for one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 

(b) If, as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other
reason, the Borrower or the Lenders determine that (i) the Total Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Total Leverage Ratio would have resulted in higher
pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by the Administrative Agent
(or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender or the L/C
Issuer), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative
Agent, any Lender or the L/C Issuer, as the case may be, under Section 2.03(c)(iii), 2.03(h) or (i) or 2.08(b) or under Article VIII. The Borrower’s obligations under this paragraph shall
survive the 

  
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termination of the Aggregate Commitments and the repayment of all other Obligations hereunder. 
 2.11 Evidence of Indebtedness. 
 (a) The Credit Extensions
made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation
Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the
amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit the obligation of the Borrower hereunder to pay any amount owing
with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the
Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to the
order of such Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and
payments with respect thereto. 
 (b) In addition to the accounts and records referred to in
Section 2.11(a), each Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records and, in the case of the Administrative Agent, entries in the Register, evidencing the purchases and sales
by such Lender of participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters,
the accounts and records of the Administrative Agent shall control in the absence of manifest error. 
 (c)
Entries made in good faith by the Administrative Agent in the Register pursuant to Sections 2.11(a) and (b), and by each Lender in its account or accounts pursuant to Sections 2.11(a) and (b), shall be prima
facie evidence of the amount of principal and interest due and payable or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in the case of such account or accounts, such Lender, under this Agreement
and the other Loan Documents, absent manifest error; provided, that the failure of the Administrative Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not
limit the obligations of the Borrower under this Agreement and the other Loan Documents. 

  
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 2.12 Payments Generally; Administrative Agent’s Clawback. 

(a) General. All payments to be made by the Borrower shall be made without condition or deduction for any
counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at
the Administrative Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Pro Rata Share in respect of the
relevant Facility (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 2:00 p.m. shall be deemed
received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following
Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be; provided, however, that, if such extension would cause payment of interest on or principal of Eurodollar Rate Loans to be
made in the next succeeding calendar month, such payment shall be made on the immediately preceding Business Day. 
 (b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of Eurodollar
Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the
Administrative Agent may assume that such Lender has made such share available on such date in accordance with Section 2.02 (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with
and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including
the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate reasonably
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any reasonable administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the
foregoing, and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period,
the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall
constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may 

  
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 have against a Lender that shall have failed to make such payment to the Administrative
Agent. 
 (ii) Payments by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent
shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or an L/C Issuer hereunder that the Borrower will not make such payment, the Administrative Agent
may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Appropriate Lenders or the applicable L/C Issuer, as the case may be, the amount due. In such event,
if the Borrower has not in fact made such payment, then each of the Appropriate Lenders or the applicable L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such
Lender or such L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the
Federal Funds Rate and a rate reasonably determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 
 A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this Section 2.12(b) shall be conclusive, absent manifest error. 

(c) Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for
any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set
forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender on demand, without interest. 

(d) Obligations of the Lenders Several. The obligations of the Lenders hereunder to make Term B Loans and Revolving
Credit Loans, to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 9.07 are several and not joint. The failure of any Lender to make any Loan or to fund any such participation or to make any
payment under Section 9.07 on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan or,
to purchase its participation or to make its payment under Section 9.07. 
 (e) Funding Source.
Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular
place or manner. 
 (f) Insufficient Funds. If at any time insufficient funds are received by and
available to the Administrative Agent to pay fully all amounts of principal, L/C 

  
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Borrowings, interest and fees then due hereunder, such funds shall be applied (i) first, toward payment of interest and fees then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, toward payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of principal and L/C Borrowings then due to such parties 
 (g) Unallocated Funds. If the
Administrative Agent receives funds for application to the Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied,
the Administrative Agent may, but shall not be obligated to, elect to distribute such funds to each of the Lenders in accordance with such Lender’s Pro Rata Share of the sum of (a) the Outstanding Amount of all Loans outstanding at such
time and (b) the Outstanding Amount of all L/C Obligations outstanding at such time, in repayment or prepayment of such of the outstanding Loans or other Obligations then owing to such Lender. 

2.13 Sharing of Payments. If, other than as expressly provided elsewhere herein (including the application of funds arising from
the existence of a Defaulting Lender), any Lender shall obtain on account of the Loans made by it, or the participations in L/C Obligations or in Swing Line Loans held by it, any payment (whether voluntary, involuntary, through the exercise of any
right of setoff, or otherwise) in excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative Agent of such fact, and (b) purchase from the other Lenders such
participations in the Loans made by them and/or such subparticipations in the participations in L/C Obligations or Swing Line Loans held by them, as the case may be, as shall be necessary to cause such purchasing Lender to share the excess payment
in respect of such Loans or such participations, as the case may be, pro rata with each of them; provided, however, that if all or any portion of such excess payment is thereafter recovered from the purchasing Lender under any
of the circumstances described in Section 10.06 (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to the
purchasing Lender the purchase price paid therefor, together with an amount equal to such paying Lender’s ratable share (according to the proportion of (i) the amount of such paying Lender’s required repayment to (ii) the total
amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further interest thereon. The Borrower agrees that any Lender so purchasing
a participation from another Lender may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of setoff, but subject to Section 10.09) with respect to such participation as fully as if such
Lender were the direct creditor of the Borrower in the amount of such participation. The Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased under this
Section 2.13 and will in each case notify the Lenders following any such purchases or repayments. Each Lender that purchases a participation pursuant to this Section 2.13 shall from and after such purchase have the right to
give all notices, requests, demands, directions and other communications under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations
purchased. For the avoidance of doubt, the provisions 

  
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of this Section shall not be construed to apply to the application of Cash Collateral provided for in Section 2.17 or to the assignments and participations (including by means of a
Dutch Auction) described in Section 10.07. 
 2.14 Increase in Revolving Credit Facility. 

(a) Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Revolving Credit Lenders),
the Borrower may from time to time, request an increase in the Revolving Credit Facility by an amount (for all such requests, together with all requests for an increase in the Term B Facility pursuant to Section 2.15, all requests for a
New Term Facility pursuant to Section 2.16(a)(i), and the aggregate principal amount of all Senior Secured Notes then outstanding) not exceeding $200,000,000; provided that any such request for an increase shall be in a minimum amount of
the lesser of (x) $10,000,000 and (y) the entire remaining amount of increases available under this Section. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period
within which each Revolving Credit Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Revolving Credit Lenders). 

(b) Each Revolving Credit Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its
Revolving Credit Commitment and, if so, whether by a percentage of the requested increase equal to, greater than, or less than its Pro Rata Share in respect of the Revolving Credit Facility. Any Revolving Credit Lender not responding within such
time period shall be deemed to have declined to increase its Revolving Credit Commitment. 
 (c) The Administrative Agent shall
notify the Borrower and each Revolving Credit Lender of the Revolving Credit Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, and subject to the approval of the Administrative Agent, the L/C
Issuer and the Swing Line Lender (which approvals shall not be unreasonably withheld), the Borrower may also invite additional Eligible Assignees to become Revolving Credit Lenders pursuant to a joinder agreement in form and substance satisfactory
to the Administrative Agent and its counsel. 
 (d) If the Revolving Credit Facility is increased in accordance with this
Section, the Administrative Agent and the Borrower shall determine the effective date (the “Revolving Credit Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly notify
the Borrower and the Revolving Credit Lenders of the final allocation of such increase and the Revolving Credit Increase Effective Date. 
 (e) As conditions precedent to such increase, (i) the Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Revolving Credit Increase Effective Date (in
sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party, certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and certifying that the conditions precedent set out
in the following subclauses (ii) through (v) have been satisfied, (ii) no Default shall have occurred and be continuing or would result from such increase, (iii) before and after giving effect to such

  
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 increase, the representations and warranties contained in Article V and the other Loan Documents
shall be true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) on and as of the Revolving Credit Increase Effective Date, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) as of such
earlier date, and except that for purposes of this subclause (iii), the representations and warranties contained in Section 5.05(a) and Sections 5.05(b) and (c) shall be deemed to refer to the most recent
statements furnished pursuant to Sections 6.01(a) and (b), respectively, (iv) after giving effect to such increase, the Borrower would be in Pro Forma Compliance with (A) the financial covenants set out in
Section 7.11 and (B) the Maximum Senior Secured Leverage Ratio, in each case for the four-quarter period to which the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b)
relates, assuming that the Revolving Facility (after giving effect to such increase) is fully drawn; provided that up to $50,000,000 of the sum of all (w) increases in the Revolving Credit Facility pursuant to this Section 2.14,
(x) increases in the Term B Facility pursuant to Section 2.15, (y) incurrences of New Term Facilities pursuant to Section 2.16(a)(i) and (z) incurrences of Senior Secured Notes may be effected without regard to compliance
with the Maximum Senior Secured Leverage Ratio. The Borrower shall prepay any Revolving Credit Loans, L/C Advances or Swing Line Loans (to the extent participated to Revolving Credit Lenders) outstanding on the Revolving Credit Increase Effective
Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Revolving Credit Loans, L/C Advances or Swing Line Loans (to the extent participated to Revolving Credit Lenders), as the
case may be, ratable with any revised Pro Rata Share of a Revolving Credit Lender in respect of the Revolving Credit Facility arising from any nonratable increase in the Revolving Credit Commitments under this Section, and (v) the all-in yield
(whether in the form of interest rate margins, original issue discount, upfront fees, or LIBOR/ABR floors, assuming, in the case of original issue discount and upfront fees, four-year life to maturity) applicable to such increase will be determined
by the Borrower and the Lenders providing such increase and will not be more than 50 basis points higher than the corresponding all-in yield (giving effect to interest rate margins, original issue discount, upfront fees and LIBOR/ABR floors) for the
existing Revolving Credit Facility, unless the all-in yield with respect to the existing Revolving Credit Facility, as the case may be, is increased by an amount equal to the difference between the all-in yield with respect to such increase and the
corresponding all-in yield on the existing Revolving Credit Facility, minus, 50 basis points. 
 2.15 Increase in Term B
Facility. 
 (a) Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the
Term B Lenders), the Borrower may from time to time, request an increase in the Term B Loans by an amount (for all such requests, together with all requests for an increase in the Revolving Credit Facility pursuant to Section 2.14, all
requests for a New Term Facility pursuant to Section 2.16(a)(i), and the aggregate principal amount of all Senior Secured Notes then outstanding) not exceeding $200,000,000; provided that any such request for an increase shall be in a
minimum amount of the lesser of (x) $10,000,000 and (y) the entire remaining amount of increases available under this Section. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify
the time period within 

  
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which each Term B Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Term B Lenders). 

(b) Each Term B Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its Term B
Loans and, if so, whether by an amount equal to, greater than, or less than its ratable portion (based on such Term B Lender’s Pro Rata Share in respect of the Term B Facility) of such requested increase. Any Term B Lender not responding within
such time period shall be deemed to have declined to increase its Term B Loans. 
 (c) The Administrative Agent shall notify the
Borrower and each Term B Lender of the Term B Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, and subject to the approval of the Administrative Agent (which approval shall not be
unreasonably withheld), the Borrower may also invite additional Eligible Assignees to become Term B Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. 

(d) If the Term B Loans are increased in accordance with this Section, the Administrative Agent and the Borrower shall determine the
effective date (the “Term B Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly notify the Borrower and the Term B Lenders of the final allocation of such increase and
the Term B Increase Effective Date. As of the Term B Increase Effective Date, the amortization schedule for the Term B Loans set forth in Section 2.07(b) shall be amended to increase the then-remaining unpaid installments of principal by an
aggregate amount equal to the additional Term B Loans being made on such date, such aggregate amount to be applied to increase such installments ratably in accordance with the amounts in effect immediately prior to the Term B Increase Effective
Date. Such amendment may be signed by the Administrative Agent on behalf of the Lenders. 
 (e) As a condition precedent to such
increase, (i) the Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Term B Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party,
certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and certifying that the conditions precedent set out in the following subclauses (ii) through (v) have been satisfied,
(ii) no Default shall have occurred and be continuing or would result from such increase, (iii) before and after giving effect to such increase, the representations and warranties contained in Article V and the other Loan
Documents shall be true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) on and as of the Term B Increase Effective Date, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) as of such
earlier date, and except that for purposes of this subclause (iii), the representations and warranties contained in Section 5.05(a) and Sections 5.05(b) and (c) shall be deemed to refer to the most recent
statements furnished pursuant to Sections 6.01(a) and (b), respectively, (iv) after giving effect to such increase, the Borrower would be in Pro Forma Compliance with (A) the financial covenants set out in
Section 7.11 and (B) the Maximum Senior Secured Leverage 

  
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Ratio, in each case for the four-quarter period to which the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b) relates;
provided that up to $50,000,000 of the sum of all (w) increases in the Revolving Credit Facility pursuant to Section 2.14, (x) increases in the Term B Facility pursuant to this Section 2.15, (y) incurrences of New
Term Facilities pursuant to Section 2.16(a)(i) and (z) incurrences of Senior Secured Notes may be effected without regard to compliance with the Maximum Senior Secured Leverage Ratio, and (v) the all-in yield (whether in the form of
interest rate margins, original issue discount, upfront fees, or LIBOR/ABR floors, assuming, in the case of original issue discount and upfront fees, four-year life to maturity) applicable to such increase will be determined by the Borrower and the
Lenders providing such increase and will not be more than 50 basis points higher than the corresponding all-in yield (giving effect to interest rate margins, original issue discount, upfront fees and LIBOR/ABR floors) for the existing Term B
Facility, unless the all-in yield with respect to the existing Term B Facility is increased by an amount equal to the difference between the all-in yield with respect to such increase and the corresponding all-in yield on the existing Term B
Facility, minus, 50 basis points. The additional Term B Loans shall be made by the Term B Lenders participating therein pursuant to the procedures set forth in Section 2.02. 

2.16 New Term Facility. 
 (a) Provided there exists no Default, upon notice to the Administrative Agent, the Borrower may from time to time, request to add one or more new term loan facilities to the Facilities (each a
“New Term Facility”; and any advance made by a Lender thereunder, a “New Term Loan”) (i) in an amount (for all such requests, together with all requests for an increase in the Revolving Credit
Facility pursuant to Section 2.14, all requests for an increase in the Term B Facility pursuant to Section 2.15, and the aggregate principal amount of all Senior Secured Notes then outstanding) not exceeding $200,000,000;
provided that any such request for an increase shall be in a minimum amount of the lesser of (x) $25,000,000 and (y) the entire remaining amount of increases available under this Section 2.16(a)(i) and (ii) to refinance all or
any portion of the Term B Loans then outstanding under this Agreement (which for purposes of this Section 2.16, shall be deemed to include any then outstanding New Term Loans). 

(b) Any proposed New Term Facility may be requested from existing Lenders, new prospective Lenders who are Eligible Assignees or a
combination thereof, as selected by, and with such allocations of committed amounts as may be determined by, the lead arranger(s) thereof and the Borrower. Any Lender approached to provide all or a portion of the New Term Facility may elect or
decline, in its sole discretion, to provide loans thereunder. 
 (c) The Administrative Agent shall promptly notify the Borrower
and the Lenders of the amount and effective date (the “New Term Facility Effective Date”) of any New Term Facility. In connection with any New Term Facility, this Agreement and the other Loan Documents shall be amended in a
writing (which may be executed and delivered by the Borrower and the Administrative Agent on behalf of the Lenders) to reflect any technical changes necessary to give effect to such New Term Facility in accordance with its terms as set forth herein.

 (d) As a condition precedent to any New Term Facility, (i) the Borrower shall deliver to the Administrative Agent a
certificate of each Loan Party dated as of the New Term 

  
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Facility Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party, certifying and attaching the resolutions adopted by such Loan Party approving or
consenting to such New Term Loan, and certifying that the conditions precedent set out in the following subclauses (ii) through (x) have been satisfied, (ii) such New Term Facility shall rank pari passu in right of payment and
security with the other Facilities, (iii) such New Term Facility will have a final maturity no earlier than the Term B Maturity Date, (iv) the Weighted Average Life to Maturity of such New Term Facility shall be no shorter than that of the
Term B Facility, (v) the New Term Facility shall share ratably in any prepayments of the Term B Facility pursuant to Section 2.05, (vi) no Default shall have occurred and be continuing or would result from the incurrence of
such New Term Facility, (vii) before and after giving effect to such New Term Facility, the representations and warranties contained in Article V and the other Loan Documents shall be true and correct in all material respects (and
in all respects if any such representation or warranty is already qualified by materiality) on and as of the New Term Facility Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in
which case they shall be true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) as of such earlier date, and except that for purposes of this subclause (vii)
the representations and warranties contained in Section 5.05(a) and Sections 5.05(b) and (c) shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and
(b), respectively, (viii) after giving effect to such New Term Facility, the Borrower would be in Pro Forma Compliance with (A) the financial covenants set out in Section 7.11 and (B) the Maximum Senior Secured
Leverage Ratio, in each case for the four-quarter period to which the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b) relates; provided that up to $50,000,000 of the sum of all
(w) increases in the Revolving Credit Facility pursuant to Section 2.14, (x) increases in the Term B Facility pursuant to Section 2.15, (y) incurrences of New Term Facilities pursuant to Section 2.16(a)(i) and
(z) incurrences of Senior Secured Notes may be effected without regard to compliance with the Maximum Senior Secured Leverage Ratio, (ix) the all-in yield (whether in the form of interest rate margins, original issue discount, upfront
fees, or LIBOR/ABR floors, assuming, in the case of original issue discount and upfront fees, four-year life to maturity) applicable to such New Term Facility will be determined by the Borrower and the Lenders providing such New Term Facility and
will not be more than 50 basis points higher than the corresponding all-in yield (giving effect to interest rate margins, original issue discount, upfront fees and LIBOR/ABR floors) for the existing Term B Facility, unless the interest rate margins
with respect to the existing Term B Facility are increased by an amount equal to the difference between the all-in yield with respect to such New Term Facility and the corresponding all-in yield on the existing Term B Facility, minus, 50 basis
points, (x) except with respect to all-in yield and as set forth in subclauses (iii) and (iv) above with respect to final maturity and Weighted Average Life to Maturity, such New Term Facility shall have the same terms and conditions
as the Term B Facility and (xi) in the case of any New Term Loans incurred pursuant to Section 2.16(a)(ii), the proceeds of such New Term Loans shall be applied, substantially concurrently with the incurrence thereof, to the prepayment of
the outstanding Term B Loans being so refinanced pursuant to Section 2.05(a). 
 2.17 Cash Collateral. 

(a) Upon the request of the Administrative Agent or the L/C Issuer (i) if the L/C Issuer has honored any full or partial drawing
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drawing has resulted in an L/C Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrower shall, in each case,
immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations. At any time that there shall exist a Defaulting Lender, immediately upon the request of the Administrative Agent, the L/C Issuer or the Swing Line Lender, the
Borrower shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure (after giving effect to Section 2.18(a)(iv) and any Cash Collateral provided by the Defaulting Lender). 

(b) All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked,
non-interest bearing deposit accounts at Bank of America. The Borrower, and to the extent provided by any Lender, such Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent,
the L/C Issuer and the Lenders (including the Swing Line Lender), and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant
hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 2.17(c). If at any time the Administrative Agent determines that Cash Collateral is
subject to any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash Collateral is less than the applicable Fronting Exposure and other obligations secured thereby, the Borrower or
the relevant Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency. 

(c) Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this
Section 2.17 or Sections 2.04, 2.05, 2.06, 2.18 or 8.02 in respect of Letters of Credit or Swing Line Loans shall be held and applied to the satisfaction of the specific L/C Obligations, Swing Line
Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other
application of such property as may be provided for herein. 
 (d) Cash Collateral (or the appropriate portion thereof) provided
to reduce Fronting Exposure or other obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of Defaulting Lender status of
the applicable Lender (or, as appropriate, its assignee following compliance with Section 10.06(b)(vi))) or (ii) the Administrative Agent’s good faith determination that there exists excess Cash Collateral; provided,
however, (x) that Cash Collateral furnished by or on behalf of a Loan Party shall not be released during the continuance of a Default or Event of Default (and following application as provided in this Section 2.17 may be
otherwise applied in accordance with Section 8.03), and (y) the Person providing Cash Collateral and the L/C Issuer or Swing Line Lender, as applicable, may agree that Cash Collateral shall not be released but instead held to
support future anticipated Fronting Exposure or other obligations. 

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

(i) That Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this
Agreement shall be restricted as set forth in Section 10.01. 
 (ii) Any payment of principal,
interest, fees or other amounts received by the Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise, and including any amounts made available
to the Administrative Agent by that Defaulting Lender pursuant to Section 10.08), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by
that Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, if so determined by the
Administrative Agent or requested by the L/C Issuer or Swing Line Lender, to be held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Swing Line Loan or Letter of Credit; fourth, as the
Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative
Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement;
sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or Swing Line Lender against that
Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any
judgment of a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to that Defaulting Lender or as
otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting Lender has not fully funded its
appropriate share and (y) such Loans or L/C Borrowings were made at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Borrowings owed to,
all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are
applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.18(a)(ii) shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

 (iii) That Defaulting Lender (x) shall not be entitled to receive any commitment fee pursuant to
Section 2.09(a) for any period during which that Lender is a 

  
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Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender) and (y) shall be limited in
its right to receive Letter of Credit Fees as provided in Section 2.04(h). 
 (iv) During any period
in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.04
and 2.05, the “Pro Rata Share” of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if,
at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing
Line Loans shall not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender. 

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

TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY 
 3.01 Taxes. 
 (a) Except as provided in this Section 3.01, any
and all payments by the Borrower to or for the account of any Agent or any Lender under any Loan Document shall be made free and clear of and without deduction for any and all present or future taxes, duties, levies, imposts, deductions,
assessments, fees, withholdings or similar charges imposed by any Governmental Authority, and all liabilities (including additions to tax, penalties and interest) with respect thereto (collectively, “Impositions”),
excluding, in the case of each Agent and each Lender, any Impositions (x) imposed on or measured by its overall net income or overall gross income (including branch profits), and franchise (and similar) taxes imposed on it in lieu of net

  
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income taxes, by the jurisdiction (or any political subdivision thereof) under the Laws of which such Agent or such Lender, as the case may be, is organized in which its principal office is
located or in which it maintains its Lending Office, (y) that are any United States Federal withholding taxes and any penalties and interest with respect thereto (including, without limitation, taxes imposed under Section 881 of the Code
subject to withholding pursuant to Section 1442 of the Code, whether or not in any such case withheld from any payment) other than as to any Lender or Agent, United States Federal withholding taxes imposed on or with respect to any payment
under this Agreement to such Lender or Agent as a result of a U.S. Tax Law Change, except as provided in subclause (z), and (z) that are United States federal withholding taxes and any penalties and interest with respect thereto and that
are imposed as a result of such Lender’s failure to comply with the requirements of Sections 1471 through 1474 of the Code and any regulations promulgated thereunder (“FATCA”) to establish an exemption from
withholding thereunder (all such non-excluded taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and liabilities being hereinafter referred to as “Taxes”); provided,
however, that, if at the date of the Assignment and Acceptance pursuant to which a Lender becomes a party to this Agreement, the Lender assignor was entitled to payments under this clause (a) in respect of United States
withholding tax with respect to payments at such date, then, to such extent, the term Taxes shall include (in addition to withholding taxes that may be imposed in the future or other amounts otherwise includable in Taxes) United States withholding
tax, if any, imposed under applicable law with respect to the Lender assignee on such date. Subject to Section 10.15, if the Borrower shall be required by any Laws to deduct any Taxes from or in respect of any sum payable under any Loan
Document to any Agent or any Lender, (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section 3.01), each of such
Agent and such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions, (iii) the Borrower shall pay the full amount deducted to the relevant taxation
authority or other authority in accordance with applicable Laws, and (iv) within thirty (30) days after the date of such payment, the Borrower shall furnish to such Agent or Lender (as the case may be) the original or a certified copy
of a receipt evidencing payment thereof to the extent such a receipt is issued therefor, or other written proof of payment thereof that is reasonably satisfactory to the Administrative Agent. 

(b) In addition but without duplication, the Borrower agrees to pay any and all present or future stamp, court or documentary taxes and
any other excise, property, intangible or mortgage recording taxes or charges or similar levies which arise from any payment made under any Loan Document or from the execution, delivery, performance, enforcement or registration of any Loan Document
(hereinafter referred to as “Other Taxes”). 
 (c) The Borrower agrees to indemnify each Agent and each
Lender for (i) the full amount of Taxes and Other Taxes (including any Taxes or Other Taxes imposed or asserted by any Governmental Authority on amounts payable under this Section 3.01) paid by such Agent and such Lender, and
(ii) any reasonable expenses arising therefrom or with respect thereto, in each case whether or not such Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided such Agent or
Lender, as the case may be, provides the Borrower with a written statement thereof setting forth in reasonable detail the basis and calculation of such amounts. Payment under this Section 3.01(c) shall be made

  
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within thirty (30) days after the date such Lender or such Agent makes a written demand therefor. 
 (d) Notwithstanding anything herein to the contrary, the Borrower shall not be required pursuant to this Section 3.01 to pay any additional amount to, or to indemnify, any Lender or Agent, as
the case may be, to the extent that such Lender or such Agent becomes subject to Taxes subsequent to the Effective Date (or, if later, the date such Lender or Agent becomes a party to this Agreement) as a result of a change in the place of
organization of such Lender or Agent, a change in the Lending Office of such Lender, or a change in the principal office of such Lender or Agent, except to the extent that any such change is requested or required by the Borrower or to the extent
that such Lender or Agent was entitled, at the time of the change in place of organization or the change in Lending Office, to receive additional amounts from the Borrower pursuant to Section 3.01(a) and (c) (and
provided, that nothing in this clause (d) shall be construed as relieving the Borrower from any obligation to make such payments or indemnification in the event of a change that is a change in Law). 

(e) If any Lender or Agent determines that it has received a refund in respect of any Taxes or Other Taxes as to which indemnification or
additional amounts have been paid to it by the Borrower pursuant to this Section 3.01, it shall promptly remit such refund (including any interest included in such refund paid by the relevant taxation authority) to the Borrower, net of
all out-of-pocket expenses of the Lender or Agent, as the case may be; provided, however, that the Borrower, upon the request of the Lender or Agent, as the case may be, agrees promptly to return such refund to such party in the event
such party is required to repay such refund to the relevant taxing authority. Such Lender or Agent, as the case may be, shall, at the Borrower’s request, provide the Borrower with a copy of any notice of assessment or other evidence of the
requirement to repay such refund received from the relevant taxing authority (provided, that such Lender or Agent may delete any information therein that such Lender or Agent deems confidential). Nothing herein contained shall interfere with
the right of a Lender or Agent to arrange its tax affairs in whatever manner it thinks fit nor oblige any Lender or Agent to claim any tax refund or to disclose any information relating to its tax affairs or any computations in respect thereof or
require any Lender or Agent to do anything that would prejudice its ability to benefit from any other refunds, credits, reliefs, remissions or repayments to which it may be entitled. 

(f) Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Section 3.01(a) or
(c) with respect to such Lender it will, if requested by the Borrower, use commercially reasonable efforts (subject to such Lender’s overall internal policies of general application and legal and regulatory restrictions) to avoid or
reduce to the greatest extent possible any indemnification or additional amounts being due under this Section 3.01, including to designate another Lending Office for any Loan or Letter of Credit affected by such event; provided,
that such efforts are made on terms that, in the reasonable judgment of such Lender, cause such Lender and its Lending Office(s) to suffer no material economic, legal or regulatory disadvantage, and provided, further, that nothing in
this Section 3.01(g) shall affect or postpone any of the Obligations of the Borrower or the rights of such Lender pursuant to Sections 3.01(a) and (c). 

  
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 3.02 Illegality. If any Lender determines that any Law has made it unlawful, or that
any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to the Eurodollar Rate, or to determine or charge interest rates
based upon the Eurodollar Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such
Lender to the Borrower through the Administrative Agent, (i) any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended, and (ii) if such notice asserts
the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the Eurodollar Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if
necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the
circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate
Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base
Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Rate Loans
and (y) if such notice asserts the illegality of such Lender determining or charging interest rates based upon the Eurodollar Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such
Lender without reference to the Eurodollar Rate component thereof until the Administrative is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurodollar Rate. Upon
any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not,
in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender. 
 3.03 Inability to
Determine Rates. If the Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the
London interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to
a proposed Eurodollar Rate Loan or in connection with an existing or proposed Base Rate Loan, or (c) the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect
the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended, and
(y) in the event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall be suspended, in each
case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke 

  
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any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of
Base Rate Loans in the amount specified therein. 
 3.04 Increased Cost and Reduced Return; Capital Adequacy. 

(a) If any Lender determines that as a result of the introduction of or any change in or in the interpretation of any Law, in each case
after the date hereof, or such Lender’s compliance therewith, there shall be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining any Loan the interest on which is determined by reference to the
Eurodollar Rate or (as the case may be) issuing or participating in Letters of Credit, or a reduction in the amount received or receivable by such Lender in connection with any of the foregoing (excluding for purposes of this
Section 3.04(a) any such increased costs or reduction in amount resulting from (i) Impositions (as to which Section 3.01 shall govern), (ii) changes in the basis of taxation of overall net income or overall gross
income (including branch profits), and franchise (and similar) taxes imposed in lieu of net income taxes, by the United States or any foreign jurisdiction or any political subdivision of either thereof under the Laws of which such Lender is
organized or maintains a Lending Office, and (iii) reserve requirements reflected in the Eurodollar Rate), then from time to time upon demand of such Lender setting forth in reasonable detail such increased costs (with a copy of such
demand to the Administrative Agent given in accordance with Section 3.06), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such increased cost or reduction. 

(b) If any Lender determines that the introduction of any Law regarding capital adequacy or any change therein or in the interpretation
thereof, in each case after the date hereof, or compliance by such Lender (or its Lending Office) therewith, has the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence of
such Lender’s obligations hereunder (taking into consideration its policies with respect to capital adequacy and such Lender’s desired return on capital), then from time to time upon demand of such Lender setting forth in reasonable detail
the charge and the calculation of such reduced rate of return (with a copy of such demand to the Administrative Agent given in accordance with Section 3.06), the Borrower shall pay to such Lender such additional amounts as will
compensate such Lender for such reduction. 
 (c) The Borrower shall not be required to compensate a Lender pursuant to
Section 3.04(a) or (b) for any such increased cost or reduction incurred more than one hundred and eighty (180) days prior to the date that such Lender demands, or notifies the Borrower of its intention to demand,
compensation therefor; provided, that, if the circumstance giving rise to such increased cost or reduction is retroactive, then such 180-day period referred to above shall be extended to include the period of retroactive effect thereof.

 3.05 Funding Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the
Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 
 (a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest Period for such

  
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Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); or 
 (b) any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount
notified by the Borrower; 
 including any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such
Loan or from fees payable to terminate the deposits from which such funds were obtained. 
 For purposes of calculating amounts
payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London
interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded. 
 3.06 Matters Applicable to All Requests for Compensation. 
 (a) A
certificate of any Agent or any Lender claiming compensation under this Article III and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. In determining such
amount, such Agent or such Lender may use any reasonable averaging and attribution methods. 
 (b) With respect to any
Lender’s claim for compensation under Section 3.01, 3.02, 3.03 or 3.04, the Borrower shall not be required to compensate such Lender for any amount incurred more than one hundred and eighty (180) days
prior to the date that such Lender notifies the Borrower of the event that gives rise to such claim. If any Lender requests compensation by the Borrower under Section 3.04, the Borrower may, by notice to such Lender (with a copy to the
Administrative Agent), suspend the obligation of such Lender to make or continue from one Interest Period to another Eurodollar Rate Loans, or to convert Base Rate Loans into Eurodollar Rate Loans, until the event or condition giving rise to such
request ceases to be in effect (in which case the provisions of Section 3.06(c) shall be applicable); provided, that such suspension shall not affect the right of such Lender to receive the compensation so requested. 

(c) If the obligation of any Lender to make or continue from one Interest Period to another any Eurodollar Rate Loan, or to convert Base
Rate Loans into Eurodollar Rate Loans shall be suspended pursuant to Section 3.06(b) hereof, such Lender’s Eurodollar Rate Loans shall be automatically converted into Base Rate Loans on the last day(s) of the then current Interest
Period(s) for such Eurodollar Rate Loans (or, in the case of an immediate conversion required by Section 3.02, on such earlier date as required by Law) and, unless and until such Lender gives notice as provided below that the
circumstances specified in Section 3.01, 3.02, 3.03 or 3.04 hereof that gave rise to such conversion no longer exist: 
 (i) to the extent that such Lender’s Eurodollar Rate Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender’s Eurodollar Rate
Loans shall be applied instead to its Base Rate Loans; and 

  
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 (ii) all Loans that would otherwise be made or continued from one Interest
Period to another by such Lender as Eurodollar Rate Loans shall be made or continued instead as Base Rate Loans, and all Base Rate Loans of such Lender that would otherwise be converted into Eurodollar Rate Loans shall remain as Base Rate Loans.

 (d) If any Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in
Section 3.01, 3.02, 3.03 or 3.04 hereof that gave rise to the conversion of such Lender’s Eurodollar Rate Loans pursuant to this Section 3.06 no longer exist (which such Lender agrees to do promptly
upon such circumstances ceasing to exist) at a time when Eurodollar Rate Loans made by other Lenders are outstanding, such Lender’s Base Rate Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s)
for such outstanding Eurodollar Rate Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding Eurodollar Rate Loans and by such Lender are held pro rata (as to principal amounts, interest rate
basis, and Interest Periods) in accordance with their respective Commitments. 
 3.07 Replacement of Lenders under Certain
Circumstances. 
 (a) If at any time (i) the Borrower becomes obligated to pay additional amounts or indemnity payments
described in Section 3.01 or 3.04 as a result of any condition described in such Sections or any Lender ceases to make Eurodollar Rate Loans as a result of any condition described in Section 3.02 or 3.03,
(ii) any Lender becomes a Defaulting Lender or (iii) any Lender becomes a “Non-Consenting Lender” (as defined below in this Section 3.07), then the Borrower may, on five (5) Business Days’ prior written
notice to the Administrative Agent and such Lender (or such lesser time as may be agreed by the Administrative Agent), either (i) replace such Lender by causing such Lender to (and such Lender shall be obligated to) assign pursuant to
Section 10.07(b) (with the assignment fee to be paid by the Borrower in such instance) all of its rights and obligations under this Agreement to one or more Eligible Assignees; provided, that neither the Administrative Agent nor
any Lender shall have any obligation to the Borrower to find a replacement Lender or other such Person or (ii) terminate the Commitment of such Lender and repay all obligations of the Borrower owing to such Lender relating to the Loans and
participations held by such Lender as of such termination date. 
 (b) Any Lender being replaced pursuant to
Section 3.07(a) above shall (i) execute and deliver an Assignment and Assumption with respect to such Lender’s Commitment and outstanding Loans and participations in L/C Obligations and Swing Line Loans, and (ii) deliver
any Notes evidencing such Loans to the Borrower or Administrative Agent. If such replaced Lender fails to execute and deliver such Assignment and Assumption within three Business Days after the receipt of notice referred to in the foregoing
clause (a), the Administrative Agent is hereby authorized to execute such Assignment and Assumption instead of such replaced Lender (and each Lender, by its becoming a Lender hereunder is deemed to have granted to the Administrative Agent an
irrevocable proxy, which proxy shall be deemed to be coupled with interest, to execute and deliver the Assignment and Assumption, as provided in this Section). Pursuant to such Assignment and Assumption, (A) the assignee Lender shall acquire
all or a portion, as the case may be, of the assigning Lender’s Commitment and outstanding Loans and participations in L/C Obligations and Swing Line Loans, (B) all obligations of the Borrower owing to the assigning Lender relating to the
Loans and 

  
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participations so assigned shall be paid in full by the assignee Lender to such assigning Lender concurrently with such assignment and assumption and (C) upon such payment and, if so
requested by the assignee Lender, delivery to the assignee Lender of the appropriate Note or Notes executed by the Borrower, the assignee Lender shall become a Lender hereunder and the assigning Lender shall cease to constitute a Lender hereunder
with respect to such assigned Loans, Commitments and participations, except with respect to indemnification provisions under this Agreement, which shall survive as to such assigning Lender. 

(c) Notwithstanding anything to the contrary contained above, (i) any Lender that acts as an L/C Issuer may not be replaced
hereunder at any time that it has any Letter of Credit outstanding hereunder unless arrangements satisfactory to such L/C Issuer (including the furnishing of a back-up standby letter of credit in form and substance, and issued by an issuer
reasonably satisfactory to such L/C Issuer or the depositing of cash collateral into a cash collateral account in amounts and pursuant to arrangements reasonably satisfactory to such L/C Issuer) have been made with respect to such outstanding Letter
of Credit and (ii) the Lender that acts as the Administrative Agent may not be replaced hereunder except in accordance with the terms of Section 9.09. 
 (d) In the event that (i) the Borrower or the Administrative Agent has requested the Lenders to consent to a departure or waiver of any provisions of the Loan Documents or to agree to any amendment
thereto, (ii) the consent, waiver or amendment in question requires the agreement of all affected Lenders in accordance with the terms of Section 10.01 or all the Lenders with respect to a certain class of the Loans and
(iii) the Required Lenders have agreed to such consent, waiver or amendment, then any Lender who does not agree to such consent, waiver or amendment shall be deemed a “Non-Consenting Lender.” 

3.08 Survival. All of the Borrower’s obligations under this Article III shall survive termination of the Aggregate
Commitments and repayment of all other Obligations hereunder and resignation of the Administrative Agent. 
 ARTICLE IV

 CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 
 4.01 Conditions to Amendment and Restatement. The Existing Credit Agreement became effective on the Closing Date upon satisfaction of the conditions set forth in Section 4.01 thereof, and the
Existing Credit Agreement shall be amended and restated in its entirety as set forth herein upon the satisfaction of the following conditions precedent: 
 (a) The Administrative Agent’s receipt of the following, each of which shall be originals or facsimiles (followed promptly by originals) unless otherwise specified, each properly executed by a
Responsible Officer of the signing Loan Party, each dated as of the Effective Date (or, in the case of certificates of governmental officials, a recent date before the Effective Date) and each in form and substance reasonably satisfactory to the
Administrative Agent and its legal counsel: 
 (i) executed counterparts of this Agreement and an Affirmation
Agreement from each Guarantor, as applicable; 

  
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 (ii) such customary certificates of resolutions or other action, incumbency
certificates and/or other certificates of Responsible Officers of each Loan Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer
in connection with this Agreement and the other Loan Documents to which such Loan Party is a party or is to be a party; 
 (iii) such documents and certifications (including, without limitation, Organizational Documents and good standing certificates) as the Administrative Agent may reasonably require to evidence that each
Loan Party is duly organized or formed, and that each of the Borrower and the Guarantors is validly existing, in good standing and qualified to engage in business in each jurisdiction where its ownership, lease or operation of properties or the
conduct of its business requires such qualification, except to the extent that failure to be so qualified could not reasonably be expected to have a Material Adverse Effect; provided that to the extent any charter documents delivered by any
then existing Loan Party pursuant to Section 4.01 of the Existing Credit Agreement on the Closing Date shall not have been amended or otherwise modified since the Closing Date, the applicable Loan Party may certify to no such change in lieu of
redelivering such documents; and 
 (iv) an opinion of Fried, Frank, Harris, Shriver & Jacobson LLP,
counsel to the Loan Parties, addressed to each Agent and each Lender, in form and substance reasonably satisfactory to the Administrative Agent. 
 (b) All actions, recordings and filings, if any, of or with respect to the Security Agreement, the Mortgages and the other Collateral Documents that the Administrative Agent may deem reasonably necessary
or desirable in order to insure continued perfection and protection of the Liens created thereby shall have been taken, completed or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent, including, with respect to
the Mortgaged Properties, (i) delivery by the applicable Loan Parties of one or more mortgage amendments, supplements or restatements in form and substance reasonably satisfactory to the Administrative Agent with respect to the Mortgages, duly
executed, acknowledged and delivered by a duly authorized officer of each party thereto, in form suitable for filing and recording in all applicable filing or recording offices and (ii) fully-paid title searches and update endorsements to the
Administrative Agent’s Mortgage Policies, each in form and substance reasonably satisfactory to the Administrative Agent (the “Mortgage Deliverables”) (it being understood that if any such Mortgage Deliverable is not delivered
on the Effective Date after the Loan Parties’ use of commercially reasonable efforts to deliver such Mortgage Deliverable, then delivery of such Mortgage Deliverable shall not constitute a condition to the Effective Date but shall instead be
delivered within 45 days following the Effective Date (or such longer time as may be agreed by the Administrative Agent). 
 (c) The Administrative Agent shall have received a certificate from the Chief Financial Officer of Holdings, in substantially the form of the solvency

  
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certificate delivered on the Closing Date pursuant to Section 4.01 of the Existing Credit Agreement, certifying that Holdings and its Subsidiaries, on a consolidated basis after giving
effect to the Amendment and Restatement and the other transactions contemplated hereby (including the incurrence of the Term B Loans and any Restricted Payment made pursuant to Section 7.06(j)), are Solvent. 

(d) The conditions set forth in Section 4.02 shall have been satisfied on and as of the Effective Date, immediately
before and after giving effect to the Amendment and Restatement and the other transactions contemplated hereby (including the incurrence of the Term Loans and any Restricted Payment made pursuant to Section 7.06(j)), and the Administrative
Agent shall have received a certificate from a Responsible Officer of the Borrower certifying compliance with this Section 4.01(d). 
 (e) The Borrower shall have paid to the Existing Administrative Agent, for the ratable account of the Existing Term B Lenders, (i) all accrued and unpaid interest, fees and expenses in respect of the
Existing Term B Loans of such Existing Term B Lenders (to the extent due and payable under the Existing Credit Agreement as of the Effective Date) and (ii) the prepayment premium pursuant to Section 2.05(a)(i) of the Existing Credit
Agreement. 
 (f) The Administrative Agent shall have received executed counterparts of this Agreement, each of
which shall be originals or facsimiles (followed promptly by originals), from each of (i) the “Required Lenders” under the Existing Credit Agreement, (ii) each Term B Lender with a Term B Commitment on Schedule 2.01 hereto
and (iii) each Extending Revolving Credit Lender. 
 (g) All fees and expenses due to the Administrative
Agent, the Arrangers and the Lenders required to be paid on the Effective Date shall have been paid. 
 Without limiting the generality of the
provisions of Section 9.03, for purposes of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or
to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed
Effective Date specifying its objection thereto. 
 Upon the Effective Date, the terms and conditions of the Existing Credit Agreement shall be
amended as set forth herein and, as so amended, shall be restated in their entirety. This Agreement shall not in any way release or impair the rights, duties, obligations, Guaranties or Liens created pursuant to the Existing Credit Agreement or any
other Loan Document (as defined therein) or affect the relative priorities thereof, in each case to the extent in force and effect thereunder as of the Effective Date, except as specifically modified hereby or by documents, instruments and
agreements executed and delivered in connection herewith, and all of such rights, duties, obligations, Guaranties and Liens are assumed, ratified and affirmed by each of the Loan Parties. The Guaranties, Liens and security granted in favor of the
Secured Parties pursuant to the Collateral Documents to which each of the Loan Parties is a party shall 

  
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continue without any diminution thereof and shall remain in full force and effect on and after the Effective Date, except as specifically modified by the terms hereof or in connection herewith.

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

(a) The representations and warranties of the Borrower and each other Loan Party contained in Article V or any
other Loan Document shall be true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) on and as of the date of such Credit Extension, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) as of such
earlier date, and except that for purposes of this Section 4.02, the representations and warranties contained in Section 5.05(a) and Sections 5.05(b) and (c) shall be deemed to refer to the most recent
statements furnished pursuant to Sections 6.01(a) and (b), respectively. 
 (b) No Default
shall exist, or would result from such proposed Credit Extension or from the application of the proceeds therefrom. 
 (c) The Administrative Agent and, if applicable, the applicable L/C Issuer or the Swing Line Lender shall have received a Request for Credit Extension in accordance with the requirements hereof.

 Each Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type or a
continuation of Eurodollar Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the
applicable Credit Extension. 
 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES 
 Each of Holdings and the Borrower represents and
warrants to the Agents and the Lenders that: 
 5.01 Existence, Qualification and Power; Compliance with Laws. Each Loan
Party and each of its Subsidiaries (a) is a Person duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority to
(i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c) is duly qualified and in good standing under the Laws of each
jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, (d) is in compliance with all Laws and (e) has all requisite governmental licenses, authorizations, consents and
approvals to operate its business as currently conducted; except in each case referred to in clause (b)(i) (other than with respect to the Borrower), (c), (d) or (e), to 

  
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the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 
 5.02 Authorization; No Contravention. The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is a party, and the consummation of the Transaction, are
within such Loan Party’s corporate or other powers, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organization Documents,
(b) conflict with or result in any breach or contravention of, or the creation of any Lien under (other than as permitted by Section 7.01), or require any payment (except for Indebtedness to be repaid on the Closing Date or
Effective Date in connection with the Transaction) to be made under (i) any Subordinated Notes or Company Notes (each as defined in the Merger Agreement), (ii) any other Contractual Obligation to which such Person is a party or affecting
such Person or the properties of such Person or any of its Subsidiaries or (iii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any
Law; except with respect to any breach or contravention or payment (but not creation of Liens) referred to in clause (b)(ii), to the extent that such conflict, breach, contravention or payment could not reasonably be expected to have a
Material Adverse Effect. 
 5.03 Governmental Authorization; Other Consents. No material approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with (a) the execution, delivery or performance by, or enforcement against, any Loan Party of
this Agreement or any other Loan Document, or for the consummation of the Transaction, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens created
under the Collateral Documents (including the priority thereof) or (d) the exercise by the Administrative Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral
Documents, except for the approvals, consents, exemptions, authorizations, actions, notices and filings which have been duly obtained, taken, given or made and are in full force and effect and those approvals, consents, exemptions, authorizations or
other actions, notices or filings, the failure of which to obtain or make could not reasonably be expected to have a Material Adverse Effect. 
 5.04 Binding Effect. This Agreement and each other Loan Document has been duly executed and delivered by each Loan Party that is party thereto. This Agreement and each other Loan Document
constitutes, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is party thereto in accordance with its terms, except as such enforceability may be limited by bankruptcy insolvency, reorganization,
receivership, moratorium or other laws affecting creditors’ rights generally and by general principles of equity. 
 5.05
Financial Statements; No Material Adverse Effect. 
 (a) The Audited Financial Statements fairly present in all material
respects the financial condition of the Borrower and its consolidated Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein. 

  
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 During the period from January 2, 2010 to and including the Closing Date, there has been (i) no
sale, transfer or other disposition by the Borrower or any of its consolidated Subsidiaries of any material part of the business or property of the Borrower or any of its consolidated Subsidiaries, taken as a whole and (ii) no purchase or other
acquisition by any of them of any business or property (including any Equity Interests of any other Person) material in relation to the consolidated financial condition of the Borrower or any of its consolidated Subsidiaries, taken as a whole, in
each case, which is not reflected in the foregoing financial statements or in the notes thereto or has not otherwise been disclosed in writing to the Lenders prior to the Closing Date. 

(b) Commencing with the financial statements required to be delivered with respect to the fiscal quarter ended on or about June 30,
2010, the unaudited consolidated financial statements of the Borrower and its consolidated Subsidiaries most recently delivered pursuant to Section 6.01(b), and the related consolidated statements of income or operations,
shareholders’ equity and cash flows for such fiscal quarters (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and meet the requirements of
Regulation S-X under the Securities Act of 1933, as amended, and all other accounting rules and regulations of the SEC promulgated thereunder applicable to a registration statement under such Act on Form S-1, and (ii) fairly present in all
material respects the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby, subject to the absence of footnotes and to normal year-end audit adjustments.

 (c) After giving effect to the Refinancing, as of the Closing Date (and thereafter, except as notified in writing to the
Administrative Agent), Holdings does not have any material Indebtedness or other liabilities, direct or contingent, other than in connection with the Transaction; and from January 2, 2010 to the Closing Date, except as set forth on
Schedule 5.05, the Borrower and its Subsidiaries have not incurred any material Indebtedness or other liabilities, direct or contingent, that, in accordance with GAAP, would be required to be disclosed in such financial statements, other
than in connection with the Transaction. 
 (d) Since the date of the Audited Financial Statements, there has been no event or
circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 
 (e) The consolidated forecasted balance sheets, statements of income and statements of cash flows of the Borrower and its Subsidiaries delivered to the Lenders pursuant to Section 4.01 or
5.05 were prepared in good faith on the basis of the assumptions stated therein, which assumptions were reasonable in light of the conditions existing at the time of delivery of such forecasts; it being understood that actual results may vary
from such forecasts and that such variations may be material. 
 5.06 Litigation. There are no actions, suits,
proceedings, claims or disputes pending or, to the knowledge of the Borrower, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Restricted Subsidiaries or
against any of their properties or revenues that (a) purport to affect or pertain to this Agreement, any other Loan Document or, as of the Closing Date or the Effective 

  
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Date, the consummation of the Transaction, or (b) either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

5.07 No Default. Neither the Borrower nor any Restricted Subsidiary of the Borrower is in default under or with respect to, or a
party to, any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 5.08 Ownership of Property; Liens. 
 (a) Each Loan Party and each of its
Restricted Subsidiaries has good record and indefeasible title in fee simple to, or valid leasehold interests in, all real property necessary in the ordinary conduct of its business, free and clear of all Liens except for minor defects in title that
do not materially interfere with its ability to conduct its business or to utilize such assets for their intended purposes and Liens permitted by Section 7.01. 
 (b) Set forth on Schedule 5.08(b) hereto is a complete and accurate list of all real property owned by any Loan Party or any of its Restricted Subsidiaries, as of the date hereof, showing as
of the date hereof the street address (to the extent available), county or other relevant jurisdiction, state and record owner; and as of the Effective Date, no Loan Party owns any Material Real Property except as listed on
Schedule 6.14(b). 
 (c) Set forth on Schedule 5.08(c) hereto is a complete and accurate list of all
leases of real property under which any Loan Party or any of its Restricted Subsidiaries is the lessee as of the date hereof, showing as of the date hereof the street address (to the extent available), county or other relevant jurisdiction, state,
lessor and lessee. 
 (d) Except as set forth in Schedule 5.08(b), Schedules 5.08(c) and 5.08(d),
there are no other locations where any tangible personal property of any of the Loan Parties is or may be located (other than vehicles and assets temporarily in transit or sent for repair). 

5.09 Environmental Compliance. 
 Except as disclosed in Schedule 5.09: 
 (a) There are no claims
against the Borrower or any of its Subsidiaries alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties that could, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect. 
 (b) Except as could not reasonably be expected to have a Material Adverse
Effect, (i) none of the properties currently or formerly owned or operated by any Loan Party or any of its Subsidiaries is listed or, to the knowledge of the Borrower, proposed for listing on the NPL or on the CERCLIS or any analogous foreign,
state or local list or is adjacent to any such property; (ii) there are no and, to the knowledge of the Borrower, never have been any underground or aboveground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in
which Hazardous Materials are being or have been treated, stored or disposed on any property currently owned or operated by any Loan Party or any of its 

  
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Subsidiaries or, to its knowledge, on any property formerly owned or operated by any Loan Party or any of its Subsidiaries; (iii) there is no asbestos or asbestos-containing material on any
property currently owned or operated by any Loan Party or any of its Subsidiaries requiring investigation, remediation, mitigation, removal, or assessment, or other response, remedial or corrective action, pursuant to Environmental Law; and
(iv) Hazardous Materials have not been released, discharged or disposed of on any property currently or, to the knowledge of the Borrower, formerly owned or operated by any Loan Party or any of its Subsidiaries except for such releases,
discharges or disposal that were in compliance with Environmental Laws. 
 (c) The Properties do not contain any Hazardous
Materials in amounts or concentrations which (i) constitute a violation of, (ii) require remedial action under, or (iii) could give rise to liability under, Environmental Laws, which violations, remedial actions and liabilities, in
the aggregate, could reasonably be expected to result in a Material Adverse Effect. 
 (d) Neither the Borrower nor any of its
Subsidiaries is undertaking, and has not completed, either individually or together with other potentially responsible parties, any investigation, remediation, mitigation, removal, assessment or remedial, response or corrective action relating to
any actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any Environmental Law except for such
investigation or assessment or remedial or response action that, in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
 (e) All Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or, to the knowledge of the Borrower, formerly owned or operated by any Loan
Party or any of its Subsidiaries have been disposed of in a manner not reasonably expected to result in liability to any Loan Party or any of its Subsidiaries that could reasonably be expected to result in a Material Adverse Effect. 

5.10 [Reserved] 

5.11 Taxes. The Borrower and its Subsidiaries have filed all Federal and state and other tax returns and reports required to be
filed, and have paid all Federal and state and other taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those (a) which are not overdue by
more than thirty (30) days or (b) which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP or (c) with respect to which the
failure to make such filing or payment could not individually or in the aggregate reasonably be expected to have a Material Adverse Effect. 
 5.12 ERISA Compliance. 
 (a) Each Plan is in compliance in all material
respects with the applicable provisions of ERISA, the Code and other Federal or state laws. Each Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the Internal
Revenue Service to the effect that the form of such Plan is qualified under 

  
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Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a) of the Code, or an
application for such a letter is currently being processed by the Internal Revenue Service. To the knowledge of the Borrower and Holdings, nothing has occurred that would prevent, or cause the loss of, such tax-qualified status. 

(b) There are no pending or, to the knowledge of the Borrower and Holdings, threatened claims, actions or lawsuits, or action by any
Governmental Authority, with respect to any Plan that could be reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has
resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c) (i) No ERISA Event has occurred and
neither any Loan Party nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) each Loan Party and each ERISA
Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii) as of the most
recent valuation date for any Pension Plan (other than a Multiemployer Plan), the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher; (iv) neither any Loan Party nor any ERISA Affiliate
knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) neither any Loan Party nor any ERISA
Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that are unpaid; (v) neither any Loan Party nor any ERISA Affiliate has engaged in a transaction
that could be subject to Sections 4069 or 4212(c) of ERISA and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC and no event or circumstance has occurred or exists that could reasonably be expected
to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan, except with respect to each of the foregoing clauses of this Section 5.12(c), as could not reasonably be expected, individually or in the
aggregate, to result in a Material Adverse Effect. 
 (d) Neither any Loan Party nor any ERISA Affiliate maintains or
contributes to, or has any unsatisfied obligation to contribute to, or liability under, any active or terminated Pension Plan other than on the Effective Date, those listed on Schedule 5.12(d) hereto. 

5.13 Subsidiaries; Equity Interests. As of the Effective Date, each Loan Party has no Subsidiaries other than those specifically
disclosed in Schedule 5.13, and all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and non-assessable and are owned by a Loan Party free and clear of all Liens except (i) those
created under the Collateral Documents and (ii) any nonconsensual Lien that is permitted under Section 7.01. 

5.14 Margin Regulations; Investment Company Act. 
 (a) The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the

  
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meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock and no proceeds of any Borrowings or drawings under any Letter of
Credit will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying any margin stock. 
 (b) None of the Borrower, any Person Controlling the Borrower, or any Subsidiary is or is required to be registered as an “investment company” under the Investment Company Act of 1940. Neither
the making of any Loan, nor the issuance of any Letters of Credit, nor the application of the proceeds or repayment thereof by the Borrower, nor the consummation of the other transactions contemplated by the Loan Documents, will violate any
provision of any such Act or any rule, regulation or order of the SEC thereunder. 
 5.15 Disclosure. The Borrower has
disclosed to the Agents and the Lenders all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries or any other Loan Party is subject, and all other matters known to it, that, individually or in the
aggregate, could reasonably be expected to result in a Material Adverse Effect. No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party (other than projected
financial information, pro forma financial information and information of a general economic or industry nature) to any Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered
hereunder or any other Loan Document (as modified or supplemented by other information so furnished), when taken as a whole, contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein
(when taken as a whole), in the light of the circumstances under which they were made, not materially misleading; provided, that, with respect to projected and pro forma financial information, the Borrower represents only that such
information was prepared in good faith based upon assumptions believed to be reasonable at the time of preparation; it being understood that such projections may vary from actual results and that such variances may be material. 

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

5.17 Intellectual Property; Licenses, Etc. Each Loan Party and its Subsidiaries own, or possess the right to use, all of the
trademarks, service marks, trade names, copyrights, patents, franchises, licenses and other intellectual property rights (collectively, “IP Rights”) that are reasonably necessary for the operation of their respective
businesses, without conflict with the rights of any other Person, except to the extent such conflicts, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. Set forth on
Schedule 5.17 is a complete and accurate list of all registered or applications to register IP Rights owned or exclusively licensed by each Loan Party and its Subsidiaries as of the Effective Date. To the knowledge of the Borrower, no
slogan or other advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be employed, 

  
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by any Loan Party or any Subsidiary infringes upon any rights held by any other Person except for such infringements, individually or in the aggregate, which could not reasonably be expected to
have a Material Adverse Effect. No claim or litigation regarding any of the foregoing is pending or, to the knowledge of the Borrower, threatened, which, either individually or in the aggregate, could reasonably be expected to have a Material
Adverse Effect. 
 5.18 Solvency. The Loan Parties, on a consolidated basis, are Solvent. 

5.19 [Reserved]. 
 5.20 Labor Matters. There are no collective bargaining agreements or Multiemployer Plans, other than those listed on Schedule 5.20, covering the employees of the Borrower or any of its
Subsidiaries as of the Effective Date and neither the Borrower nor any Subsidiary has suffered any strikes, walkouts, work stoppages or other material labor difficulty within the last five years. 

5.21 Perfection, Etc. All filings and other actions necessary or desirable to perfect and protect the Lien in the Collateral
created under the Collateral Documents have been duly made or taken or otherwise provided for in a manner reasonably acceptable to Administrative Agent and are in full force and effect, and the Collateral Documents create in favor of the
Administrative Agent (as collateral agent) for the benefit of the Secured Parties a valid and, together with such filings and other actions, perfected first priority Lien in the Collateral, securing the payment of the Secured Obligations, subject to
Liens permitted by Section 7.01. The Loan Parties are the legal and beneficial owners of the Collateral free and clear of any Lien, except for the Liens created or permitted under the Loan Documents. 

5.22 Tax Shelter Regulations. The Borrower does not intend to treat the Loans and/or Letters of Credit and related transactions as
being a “reportable transaction” (within the meaning of Treasury Regulation Section 1.6011-4). In the event the Borrower determines to take any action inconsistent with such intention, it will promptly notify the Administrative Agent
thereof. If the Borrower so notifies the Administrative Agent, the Borrower acknowledges that one or more of the Lenders may treat its Loans and/or its interest in Swing Line Loans and/or Letters of Credit as part of a transaction that is subject to
Treasury Regulation Section 301.6112-1, and such Lender or Lenders, as applicable, will maintain the lists and other records required by such Treasury Regulation. 
 5.23 PATRIOT Act. To the extent applicable, each of the Consolidated Parties and each Unrestricted Subsidiary is in compliance, in all material respects, with (i) the Trading with the Enemy
Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) the
PATRIOT Act. No part of the proceeds of the Loans will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting
in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended. 

  
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 ARTICLE VI 
 AFFIRMATIVE COVENANTS 
 So long as any Lender shall have any Commitment hereunder,
any Loan or other Obligation hereunder which is accrued and payable shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall, and shall (except in the case of the covenants set forth in
Sections 6.01, 6.02 and 6.03) cause each Restricted Subsidiary to: 
 6.01 Financial
Statements. Deliver to the Administrative Agent for further distribution to each Lender, in form and detail reasonably satisfactory to the Administrative Agent: 

(a) as soon as available, but in any event within ninety (90) days after the end of each fiscal year of the Borrower,
a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year, setting forth in
each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of PricewaterhouseCoopers or any other independent certified
public accountant of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification, exception or
explanatory paragraph or any qualification, exception or explanatory paragraph as to the scope of such audit; 

(b) as soon as available, but in any event within forty-five (45) days after the end of each of the first
three (3) fiscal quarters of each fiscal year of the Borrower, a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated statements of income or operations,
shareholders’ equity and cash flows for such fiscal quarter and for the portion of the fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the
corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the financial condition, results of operations, shareholders’
equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; 

(c) at the time of delivery of the financial statements provided for in Sections 6.01(a) and
(b) above, divisional income statements for the egg products division, the potato products division and the Crystal Farms division prepared in accordance with past practices; and 

(d) as soon as available, but in any event no later than forty-five (45) days after the end of each fiscal year,
forecasts prepared by management of the Borrower, in form reasonably satisfactory to the Administrative Agent, of consolidated balance sheets, income statements and cash flow statements of the Borrower and its Subsidiaries on a

  
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quarterly basis for the remaining portion of the fiscal year following such fiscal year then ended. 
 6.02 Certificates; Other Information. Deliver to the Administrative Agent for further distribution to each Lender, in form and detail reasonably satisfactory to the Administrative Agent and the
Required Lenders: 
 (a) no later than five (5) days after the delivery of the financial statements referred
to in Section 6.01(a), a certificate of its independent certified public accountants certifying such financial statements and stating that in making the examination necessary therefor no knowledge was obtained of any Event of Default
under Section 7.11 or, if any such Event of Default shall exist, stating the nature and status of such event; 
 (b) no later than five (5) days after the delivery of the financial statements referred to in Sections 6.01(a) and (b), a duly completed Compliance Certificate signed by a
Responsible Officer of the Borrower (which delivery may, unless the Administrative Agent or a Lender requests executed originals, be by electronic communication including fax or email and shall be deemed to be an original authentic counterpart
thereof for all purposes; and which Compliance Certificate need not include financial covenant calculations prior to delivery of the financial statements for fiscal year ended on or about December 31, 2010); 

(c) promptly after the same are available, copies of each annual report, proxy or financial statement or other report or
communication sent to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration statements which the Borrower may file or be required to file, copies of any report, filing or communication
with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, or with any Governmental Authority that may be substituted therefor, or with any national securities exchange, and in any case not otherwise required to be delivered
to the Administrative Agent pursuant hereto; 
 (d) promptly after the furnishing thereof, copies of any requests
or notices received by any Loan Party (other than in the ordinary course of business), statement or report furnished to any holder of debt securities of any Loan Party or of any of its Subsidiaries pursuant to the terms of any Junior Financing
Documentation in a principal amount greater than the Threshold Amount and not otherwise required to be furnished to the Lenders pursuant to any other clause of this Section 6.02; 

(e) promptly after the receipt thereof by any Loan Party or any of its Subsidiaries, copies of each notice or other
correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any material investigation or other material inquiry by such agency regarding financial or other operational results of any Loan Party or
any of its Subsidiaries; 
 (f) promptly after the assertion or occurrence thereof, notice of any action arising
under any Environmental Law against or of any noncompliance by any Loan 

  
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Party or any of its Subsidiaries with any Environmental Law or Environmental Permit that could reasonably be expected to have a Material Adverse Effect; 

(g) together with the delivery of each Compliance Certificate pursuant to Section 6.02(b), (i) a report
supplementing Schedule 5.17 and Schedules 5.08(b), 5.08(c) and 5.08(d) hereto, including, in the case of supplements to Schedules 5.08(b), 5.08(c) and 5.08(d), an identification of all
owned and leased real property disposed of by any Loan Party or any of its Subsidiaries since the delivery of the last supplements and a list and description of all real property acquired or leased since the delivery of the last supplements
(including the street address (if available), county or other relevant jurisdiction, state, and (A) in the case of the owned real property, the record owner and (B) in the case of leases of property, lessor and lessee), and (ii) a
description of each event, condition or circumstance during the last fiscal quarter covered by such Compliance Certificate requiring a mandatory prepayment under Section 2.05(b); 

(h) [reserved]; 
 (i) promptly after the Borrower has notified the Administrative Agent of any intention by the Borrower to treat the Loans and/or Letters of Credit and related transactions as being a “reportable
transaction” (within the meaning of Treasury Regulation Section 1.6011-4), a duly completed copy of IRS Form 8886 or any successor form; and 
 (j) promptly, such additional information regarding the business, legal, financial or corporate affairs of any Loan Party or any Subsidiary, or compliance with the terms of the Loan Documents, as the
Administrative Agent or any Lender may from time to time reasonably request. 
 Documents required to be delivered pursuant to
Section 6.01(a) or (b) or Section 6.02(d) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been
delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents
are posted on the Borrower’s behalf on IntraLinks/IntraAgency or another relevant Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether
sponsored by the Administrative Agent); provided, that: (i) the Borrower shall deliver paper copies of such documents to the Administrative Agent for further distribution to each Lender until a written request to cease delivering paper
copies is given by the Administrative Agent or such Lender and (ii) the Borrower shall notify (which may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents and provide to the Administrative Agent
by electronic mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall
have no responsibility to monitor compliance by the Borrower with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

  
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 The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger
will make available to the Lenders and the L/C Issuers materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or
another similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information with
respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons’ securities. The Borrower hereby agrees that
it will use commercially reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (w) all such Borrower Materials shall be clearly and conspicuously marked “PUBLIC”
which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent,
the Arranger, the L/C Issuers and the Lenders to treat such Borrower Materials as not containing any material non-public information (although it may be sensitive and proprietary) with respect to the Borrower or its securities for purposes of United
States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 10.07); (y) all Borrower Materials marked “PUBLIC” are
permitted to be made available through a portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent and the Arranger shall be entitled to treat any Borrower Materials that are not marked
“PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.” 
 6.03 Notices. Promptly notify the Administrative Agent and each Lender: 

(a) of the occurrence of any Default; 
 (b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including arising out of or resulting from (i) breach or non-performance of, or any default
under, a Contractual Obligation of any Loan Party or any Subsidiary, (ii) any dispute, litigation, investigation, proceeding or suspension between any Loan Party or any Subsidiary and any Governmental Authority (including in connection with any
Food Industry Laws), (iii) the commencement of, or any material development in, any litigation or proceeding affecting any Loan Party or any Subsidiary, including pursuant to any applicable Environmental Laws and or in respect of IP Rights, or
(iv) the occurrence of any ERISA Event; 
 (c) of any material change in accounting policies or financial
reporting practices by any Loan Party or any Subsidiary thereof; and 
 (d) of the (i) occurrence of any
Disposition of property or assets for which the Borrower is required to make a mandatory prepayment pursuant to Section 2.05(b)(ii), and (ii) incurrence or issuance of any Indebtedness for which the Borrower is required to make a
mandatory prepayment pursuant to Section 2.05(b)(iv). 

  
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 Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of the
Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. Each notice pursuant to Section 6.03(a) shall describe with particularity any
and all provisions of this Agreement and any other Loan Document that have been breached. 
 6.04 Payment of Obligations.
Pay, discharge or otherwise satisfy as the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the
same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Restricted Subsidiary; (b) all lawful claims which, if unpaid,
would by law become a Lien upon its property; and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness except, in each case, to the
extent the failure to pay or discharge the same could not reasonably be expected to have a Material Adverse Effect. 
 6.05
Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and effect its legal existence under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.04 or 7.05,
(b) take all reasonable action to maintain all rights, privileges (including its good standing), permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not
reasonably be expected to have a Material Adverse Effect, and (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse
Effect. 
 6.06 Maintenance of Properties. (a) Maintain, preserve and protect all of its material properties and
equipment necessary in the operation of its business in good working order, repair and condition, ordinary wear and tear excepted and casualty or condemnation excepted, and (b) make all necessary renewals, replacements, modifications,
improvements, upgrades, extensions and additions thereof or thereto in accordance with prudent industry practice. 
 6.07
Maintenance of Insurance. Maintain with financially sound and reputable insurance companies, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same
or similar business, of such types and in such amounts (after giving effect to any self-insurance reasonable and customary for similarly situated Persons engaged in the same or similar businesses as the Borrower and its Subsidiaries) as are
customarily carried under similar circumstances by such other Persons. 
 6.08 Compliance with Laws. Comply in all
material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except if the failure to comply therewith could not reasonably be expected to have a Material Adverse
Effect. 

  
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 6.09 Books and Records. Maintain proper books of record and account, in which full,
true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Borrower or such Restricted Subsidiary, as the case may be. 

6.10 Inspection Rights. Permit representatives and independent contractors of the Administrative Agent and each Lender to visit
and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public
accountants, all at the expense of the Borrower and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; provided, that, excluding any such visits and
inspections during the continuation of an Event of Default, only the Administrative Agent on behalf of the Lenders may exercise rights under this Section 6.10 and the Administrative Agent shall not exercise such rights more often than
two times during any calendar year absent the existence of an Event of Default and only one (1) such time shall be at the Borrower’s expense; provided, further that when an Event of Default exists the Administrative Agent or any Lender (or
any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and without advance notice. The Administrative Agent and the Lenders shall give
the Borrower the opportunity to participate in any discussions with the Borrower’s accountants. 
 6.11 Use of
Proceeds. (a) Use the proceeds of the Term B Borrowings to refinance the Existing Term B Loans and to the extent of any excess, (i) to finance the working capital needs of the Borrower and its Restricted Subsidiaries, (ii) to pay
dividends to its equityholders, as permitted by Section 7.06(j) and (iii) for general corporate purposes of the Borrower and its Restricted Subsidiaries, in each case not in contravention of any Law or of any Loan Document and (b) use
the proceeds of all other Borrowings, (i) to finance the working capital needs of the Borrower and its Restricted Subsidiaries and (ii) for general corporate purposes of the Borrower and its Restricted Subsidiaries, in each case not in
contravention of any Law or of any Loan Document. 
 6.12 Covenant to Guarantee Obligations and Give Security.

 (a) Upon the formation or acquisition of any new direct or indirect Subsidiaries by any Loan Party (provided that each of
(i) any Subsidiary Redesignation resulting in an Unrestricted Subsidiary becoming a Restricted Subsidiary and (ii) any Excluded Subsidiary ceasing to be an Excluded Subsidiary but remaining a Restricted Subsidiary shall be deemed to
constitute the acquisition of a Restricted Subsidiary for all purposes of this Section 6.12), or upon the acquisition of any personal property (other than “Excluded Property” as defined in the Security Agreement) or any
Material Real Property by any Loan Party, which real or personal property, in the reasonable judgment of the Administrative Agent, is not already subject to a perfected Lien in favor of the Administrative Agent for the benefit of the Secured
Parties, then the Borrower shall, in each case at the Borrower’s expense: 
 (i) in connection with the
formation or acquisition of a Subsidiary, within thirty (30) days after such formation or acquisition or such longer period, not to exceed 

  
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an additional thirty (30) days, as the Administrative Agent may agree in its sole discretion, (A) cause each such Subsidiary that is neither an Excluded Subsidiary nor a Domestic
Subsidiary that is owned directly or indirectly by a Foreign Subsidiary, to duly execute and deliver to the Administrative Agent a guaranty or guaranty supplement, in form and substance reasonably satisfactory to the Administrative Agent,
guaranteeing the other Loan Parties’ obligations under the Loan Documents, and (B) (if not already so delivered) deliver certificates representing the Pledged Interests of such Subsidiary (other than any Unrestricted Subsidiary)
accompanied by undated stock powers or other appropriate instruments of transfer executed in blank and instruments evidencing the Pledged Debt of such Subsidiary indorsed in blank to the Administrative Agent, together with, if requested by the
Administrative Agent, supplements to the Security Agreement with respect to the pledge of any Equity Interests or Indebtedness; provided, that only 65% of voting Equity Interests of any Foreign Subsidiary (or any direct or indirect Domestic
Subsidiary that is treated as a disregarded entity for United States federal income tax purposes if substantially all of its assets consist of Equity Interests of one or more direct or indirect Foreign Subsidiaries) shall be required to be pledged
as Collateral and no such restriction shall apply to non-voting Equity Interests of such Subsidiaries; provided, further, that, (x) notwithstanding anything to the contrary in this Agreement, no assets of any Foreign Subsidiary
(including stock owned by such Foreign Subsidiary in a Domestic Subsidiary) shall be required to be pledged as Collateral and (y) no Loan Party will transfer or permit a transfer of a Domestic Subsidiary to a Foreign Subsidiary. 

(ii) within ten (10) days after such request, formation or acquisition, or such longer period, not to exceed an
additional thirty (30) days, as the Administrative Agent may agree, furnish to the Administrative Agent a description of the real and personal properties of the Loan Parties and their respective Subsidiaries (other than Excluded Subsidiaries)
in detail reasonably satisfactory to the Administrative Agent, 
 (iii) within thirty (30) days after such
request, formation or acquisition, or such longer period, not to exceed an additional sixty (60) days, as the Administrative Agent may agree in its sole discretion, duly execute and deliver, and cause each such Subsidiary that is not an
Excluded Subsidiary to duly execute and deliver, to the Administrative Agent Mortgages (with respect to Material Real Properties only), Security Agreement Supplements, IP Security Agreement Supplements and other security agreements, as specified by
and in form and substance reasonably satisfactory to the Administrative Agent (consistent with the Security Agreement, IP Security Agreement and Mortgages), securing payment of all the Obligations of the applicable Loan Party or such Subsidiary, as
the case may be, under the Loan Documents and constituting Liens on all such properties, 
 (iv) within
thirty (30) days after such request, formation or acquisition, or such longer period, not to exceed an additional sixty (60) days, as the Administrative Agent may agree in its sole discretion, take, and cause such Subsidiary that is not an
Excluded Subsidiary to take, whatever action (including, without limitation, the recording of Mortgages (with respect to Material Real Properties only), the filing of Uniform Commercial Code financing statements, the giving of notices and the
endorsement of notices on title documents and delivery of stock and membership interest certificates) 

  
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may be necessary or advisable in the reasonable opinion of the Administrative Agent to vest in the Administrative Agent (or in any representative of the Administrative Agent designated by it)
valid and subsisting Liens on the properties purported to be subject to the Mortgages, Security Agreement Supplements, IP Security Agreement Supplements and security agreements delivered pursuant to this Section 6.12, enforceable against
all third parties in accordance with their terms, 
 (v) within thirty (30) days after the request of the
Administrative Agent, deliver to the Administrative Agent, a signed copy of an opinion, addressed to the Administrative Agent and the other Secured Parties, of counsel for the Loan Parties reasonably acceptable to the Administrative Agent as to such
matters as the Administrative Agent may reasonably request, 
 (vi) as promptly as practicable after the request
of the Administrative Agent, deliver to the Administrative Agent with respect to each Material Real Property owned in fee by a Subsidiary that is the subject of such request, title reports in scope, form and substance reasonably satisfactory to the
Administrative Agent, fully paid American Land Title Association Lender’s Extended Coverage title insurance policies or the equivalent or other form available in the applicable jurisdiction in form and substance, with endorsements and in
amount, reasonably acceptable to the Administrative Agent (not to exceed the value of the Material Real Properties covered thereby) and, to the extent available, American Land Title Association/American Congress on Surveying and Mapping form surveys
and environmental assessment reports, and 
 (vii) at any time and from time to time, promptly execute and
deliver any and all further instruments and documents and take all such other action as the Administrative Agent in its reasonable judgment may deem necessary or desirable in obtaining the full benefits of, or in perfecting and preserving the Liens
of, such guaranties, Mortgages, Security Agreement Supplements, IP Security Agreement Supplements and security agreements. 

(b) Notwithstanding the foregoing, the Administrative Agent shall not take a security interest in those assets as to which the
Administrative Agent shall determine, in its reasonable discretion, that the cost of obtaining such Lien (including any mortgage, stamp, intangibles or other tax) are excessive in relation to the benefit to the Lenders of the security afforded
thereby. 
 (c) As promptly as practicable after the request of the Administrative Agent, deliver to the Administrative Agent
with respect to each Material Real Property owned in fee by a Subsidiary that is the subject of such request, evidence as to whether each such Material Real Property is in an area designated by the Federal Emergency Management Agency as having
special flood or mud slide hazards (a “Flood Hazard Property”) pursuant to a standard flood hazard determination form ordered and received by the Administrative Agent, and if such Material Real Property is a Flood Hazard Property,
(A) evidence as to whether the community in which such Material Real Property is located is participating in the National Flood Insurance Program, (B) the applicable Loan Party’s written acknowledgment of receipt of written
notification from the Administrative Agent as to the fact that such Material Real Property is a 

  
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Flood Hazard Property and as to whether the community in which each such Flood Hazard Property is located is participating in the National Flood Insurance Program and (C) copies of the
applicable Loan Party’s application for a flood insurance policy plus proof of premium payment, a declaration page confirming that flood insurance has been issued, or such other evidence of flood insurance satisfactory to the Administrative
Agent and naming the Administrative Agent as loss payee on behalf of the Secured Parties. 
 6.13 Compliance with
Environmental Laws. Except, in each case, to the extent that the failure to do so could reasonably be expected to have a Material Adverse Effect, comply, and make all reasonable efforts to cause all lessees and other Persons operating or
occupying its properties to comply, in all material respects, with all applicable Environmental Laws and Environmental Permits; obtain and renew all Environmental Permits necessary for its operations and properties; and conduct any investigation,
mitigation, study, sampling and testing, and undertake any cleanup, removal or remedial, corrective or other action necessary to remove and clean up all Hazardous Materials from any of its properties, in accordance with the requirements of all
Environmental Laws. 
 6.14 Further Assurances. 
 (a) Promptly upon request by the Administrative Agent, or any Lender through the Administrative Agent, (i) correct any material defect or error that may be discovered in the execution,
acknowledgment, filing or recordation of any Loan Document or other document or instrument relating to any Collateral, and (ii) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such
further acts, deeds, certificates, assurances and other instruments as the Administrative Agent, or any Lender through the Administrative Agent, may reasonably require from time to time in order to carry out more effectively the purposes of the Loan
Documents. 
 (b) By the date that is ninety (90) days after the Closing Date, as such time period may be extended in the
Administrative Agent’s reasonable discretion, the Borrower shall, and shall cause each Restricted Subsidiary to, deliver to the Administrative Agent: 
 (i) a Mortgage with respect to each Mortgaged Property, together with evidence each such Mortgage has been duly executed, acknowledged and delivered by a duly authorized officer of each party thereto on
or before such date and are in form suitable for filing and recording in all filing or recording offices that the Administrative Agent may deem necessary or desirable in order to create a valid and subsisting perfected Lien on the property described
therein in favor of the Administrative Agent for the benefit of the Secured Parties and that all filing and recording taxes and fees have been paid or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent;

 (ii) fully paid American Land Title Association Lender’s Extended Coverage title insurance policies
(the “Mortgage Policies”) in form and substance, with endorsements (including zoning endorsements) and in amounts acceptable to the Administrative Agent, issued, coinsured and reinsured by title insurers acceptable to the
Administrative Agent, insuring the Mortgages to be valid first and subsisting Liens on the 

  
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property described therein, free and clear of all defects (including, but not limited to, mechanics’ and materialmen’s Liens) and encumbrances, excepting only Permitted Encumbrances and
providing for such other affirmative insurance (including endorsements for future advances under the Loan Documents, for mechanics’ and materialmen’s Liens) and such coinsurance and direct access reinsurance as the Administrative Agent may
deem necessary or desirable and with respect to any property located in a state in which a zoning endorsement is not available or for which a zoning endorsement is not available (or for which a zoning endorsement is not available at a premium that
is not excessive), a zoning compliance letter from the applicable municipality or a zoning report from Planning and Zoning Resources Corporation, in each case satisfactory to the Administrative Agent; 

(iii) American Land Title Association/American Congress on Surveying and Mapping form surveys, for which all
necessary fees (where applicable) have been paid, and dated no more than 30 days before the day of the initial Credit Extension, certified to the Administrative Agent and the issuer of the Mortgage Policies in a manner satisfactory to the
Administrative Agent by a land surveyor duly registered and licensed in the States in which the property described in such surveys is located and acceptable to the Administrative Agent, showing all buildings and other improvements, any off-site
improvements, the location of any easements, parking spaces, rights of way, building set-back lines and other dimensional regulations and the absence of encroachments, either by such improvements or on to such property, and other defects, other than
encroachments and other defects acceptable to the Administrative Agent; new or updated surveys will not be required if an existing survey is available and survey coverage is available for Agent’s title insurance policies without the need for
such new or updated surveys; 
 (iv) favorable opinions of local counsel to the Loan Parties in states in which
the Mortgaged Property is located, with respect to the enforceability and perfection of the Mortgages and any related fixture filings, in form and substance reasonably satisfactory to the Administrative Agent; 

(v) favorable opinions of counsel to the Loan Parties in the states in which the Loan Parties party to the Mortgages are
organized or formed, with respect to the validly existence, corporate power and authority of such Loan Parties in the granting of the Mortgages, in form and substance satisfactory to the Administrative Agent; 

(vi) evidence that all other actions reasonably requested by the Administrative Agent, that are necessary in order to
create valid and subsisting Liens on the property described in the Mortgage, have been taken; and 
 (vii)
evidence that all fees, costs and expenses have been paid in connection with the preparation, execution, filing and recordation of the Mortgages, including, without limitation, reasonable attorneys’ fees, filing and recording fees, title
insurance company coordination fees, documentary stamp, mortgage and intangible taxes and title search charges and other charges incurred in connection with the recordation of the Mortgages and the other matters described in this
Section 6.14 and as otherwise required to be paid in connection therewith under Section 10.04. 

  
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 6.15 Maintenance of Ratings. Use commercially reasonable efforts to maintain a rating
of the Facilities and a corporate debt rating for the Borrower by each of S&P and Moody’s. 
 6.16 Conference
Calls. With respect to each full fiscal year for which financial statements have been delivered pursuant to Section 6.01, upon the request of the Administrative Agent and upon reasonable prior notice, hold a telephonic conference
call with all Lenders who choose to attend such conference call, on which conference call shall be reviewed the financial results and the financial condition of the Borrower and its Restricted Subsidiaries for, and as of the last day of, such fiscal
year, and the projections presented for the then-current fiscal year of the Borrower, it being understood that only one such call shall be held per calendar year. 
 ARTICLE VII 
 NEGATIVE COVENANTS 

So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder which is accrued and payable shall
remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized or a backstop letter of credit reasonably satisfactory to the
applicable L/C Issuer is in place), (A) (except with respect to Section 7.16) the Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly and (B) (with respect to
Section 7.16) Holdings shall not: 
 7.01 Liens. Create, incur, assume or suffer to exist any Lien upon any
of its property, assets or revenues, whether now owned or hereafter acquired, or sign or file or authorize the filing under the Uniform Commercial Code of any jurisdiction a financing statement that names the Borrower or any of its Restricted
Subsidiaries as debtor, or sign any security agreement authorizing any secured party thereunder to file such financing statement, other than the following: 
 (a) Liens pursuant to any Loan Document; 
 (b) Liens existing on
the Effective Date and listed on Schedule 7.01 and any modifications, replacements, renewals or extensions thereof; provided, that (i) the Lien does not extend to any additional property other than (A) after-acquired
property that is affixed or incorporated into the property covered by such Lien or financed by Indebtedness permitted under Section 7.03, and (B) and proceeds and products thereof and (ii) the renewal, extension or refinancing
of the obligations secured or benefited by such Liens is permitted by Section 7.03; 
 (c) Liens for
taxes, assessments or governmental charges which are not overdue for a period of more than thirty (30) days or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect
thereto are maintained on the books of the applicable Person in accordance with GAAP; 
 (d) statutory or common
law Liens of landlords, carriers, warehousemen, mechanics, materialmen, repairmen, construction contractors or other like Liens arising 

  
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in the ordinary course of business which secure amounts not overdue for a period of more than thirty (30) days or if more than thirty (30) days overdue, are unfiled and no other action
has been taken to enforce such Lien or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person; 

(e) pledges or deposits in the ordinary course of business (i) in connection with workers’ compensation,
unemployment insurance and other social security legislation and (ii) securing liability for reimbursement or indemnification obligations of (including obligations in respect of bank guarantees issued for the account of Foreign Subsidiaries for
the benefit of) insurance carriers providing property, casualty or liability insurance to the Borrower or any of its Restricted Subsidiaries; 
 (f) deposits to secure the performance of bids, trade contracts, governmental contracts and leases (other than Indebtedness for borrowed money), statutory obligations, surety, stay, customs and appeal
bonds, performance bonds and other obligations of a like nature (including (i) those to secure health, safety and environmental obligations and (ii) those required or requested by any Governmental Authority other than letters of credit)
incurred in the ordinary course of business; 
 (g) easements, rights-of-way, restrictions (including zoning
restrictions), encroachments, protrusions and other similar encumbrances and minor title defects affecting real property which, in the aggregate, do not in any case materially interfere with the ordinary conduct of the business of the applicable
Person and any exceptions on the Mortgage Policies issued in connection with the Mortgaged Properties; 
 (h)
Liens securing judgments for the payment of money not constituting an Event of Default under Section 8.01(h); 
 (i) Liens securing Indebtedness permitted under Section 7.03(b)(v); provided, that (i) such Liens attach concurrently with or within two hundred and seventy (270) days after
the acquisition, repair, replacement or improvement (as applicable) of the property subject to such Liens, (ii) such Liens do not at any time encumber any property (except for replacements, additions and accessions to such property) other than
the property financed by such Indebtedness and the proceeds and the products thereof and (iii) with respect to Capitalized Leases, such Liens do not at any time extend to or cover any assets other than the assets subject to such Capitalized
Leases and the proceeds and products thereof and customary security deposits; provided that individual financings of equipment provided by one lender may be cross collateralized to other financings of equipment provided by such lender; 

(j) Liens arising from operation of the statutory trust under PACA or MWPDA or any comparable law, statute or regulation
applicable to the Borrower and its Restricted Subsidiaries and their respective operations based on their businesses; provided, that such Liens do not secure past due account payable balances exceeding $10,000,000 in the aggregate at any one
time outstanding, unless, in respect of any such account payables, (i) appropriate legal or administrative action has been commenced and 

  
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is being diligently pursued or defended by the Borrower or the applicable Restricted Subsidiary and (ii) the ability of the applicable vendor to enforce any such Lien provided under PACA or
MWPDA has been stayed or otherwise legally prohibited during the pendency of such action; 
 (k) Liens on
“farm products” (as defined in the Food Security Act) to the extent, in the case of any such Lien, that such Lien (i) was created by the Person (but not Holdings or any of its Subsidiaries) which sold such property to the Borrower or
any of its Restricted Subsidiaries and (ii) follows the property solely by reason of the provisions of the Food Security Act notwithstanding the transfer of title to such property to the Borrower or any of its Restricted Subsidiaries;

 (l) leases, licenses, subleases or sublicenses granted to others in the ordinary course of business and not
interfering in any material respect with the business of the Borrower or any of its Restricted Subsidiaries (other than Immaterial Subsidiaries); 
 (m) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business;

 (n) Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on
items in the course of collection, (ii) attaching to commodity trading accounts or other commodities brokerage accounts incurred in the ordinary course of business; and (iii) in favor of a banking or other financial institution arising as
a matter of law or under customary general terms and conditions encumbering deposits (including the right of set-off) and which are within the general parameters customary in the banking industry; 

(o) Liens (i) on cash advances in favor of the seller of any property to be acquired in an Investment permitted
pursuant to Sections 7.02(i) or (o) to be applied against the purchase price for such Investment, or (ii) consisting of an agreement to Dispose of any property in a Disposition permitted under Section 7.05,
in each case, solely to the extent such Investment or Disposition, as the case may be, would have been permitted on the date of the creation of such Lien; 
 (p) Liens on property of any Restricted Subsidiary that is a Foreign Subsidiary securing Indebtedness of such Foreign Subsidiary to the extent permitted under Section 7.03(b)(vi) or
(b)(vii); 
 (q) Liens in favor of the Borrower or a Restricted Subsidiary of the Borrower securing
Indebtedness permitted under Section 7.03(b)(iv); 
 (r) Liens existing on property at the time of
its acquisition or existing on the property of any Person that becomes a Subsidiary after the date hereof (other than Liens on the Equity Interests of any Person that becomes a Subsidiary); provided, that (i) such Lien was not created in
contemplation of such acquisition or such Person becoming a Subsidiary, (ii) such Lien does not extend to or cover any other assets or property (other 

  
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than the proceeds or products thereof), and (iii) the Indebtedness secured thereby is permitted under Section 7.03(b)(v), or (xii); 

(s) Liens arising from precautionary UCC financing statement filings regarding leases entered into by the Borrower or any
of its Restricted Subsidiaries in the ordinary course of business; 
 (t) any interest or title of a lessor,
sublessor, licensee, sublicensee, licensor or sublicensor under any lease or license agreement in the ordinary course of business permitted by this Agreement; 
 (u) Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods entered into by the Borrower or any of its Restricted Subsidiaries in the ordinary course
of business permitted by this Agreement; 
 (v) Liens deemed to exist in connection with Investments in
repurchase agreements under Section 7.02; 
 (w) Liens encumbering reasonable customary initial
deposits and margin deposits and similar Liens attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 

(x) Permitted Encumbrances; 
 (y) Liens on Cash Collateral granted in favor of any Lenders and/or L/C Issuers created as a result of any requirement or option to Cash Collateralize pursuant to Section 2.03(a)(ii)(F), or
2.05(b)(iv); 
 (z) Senior Secured Note Liens; 

(aa) Specified Refinancing Liens; 
 (bb) Liens that are customary contractual rights of setoff (i) relating to the establishment of depository relations with banks or other financial institutions not given in connection with the
incurrence of Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Borrower or any of its Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the
Borrower or any of its Restricted Subsidiaries or (iii) relating to purchase orders and other agreements entered into with customers of the Borrower or any of its Restricted Subsidiaries in the ordinary course of business; 

(cc) (i) zoning, building, entitlement and other land use regulations by Governmental Authorities with which the normal
operation of the business complies, and (ii) any zoning or similar law or right reserved to or vested in any Governmental Authority to control or regulate the use of any real property that does not materially interfere with the ordinary conduct
of the business of the Borrower or any of its Restricted Subsidiaries (other than Immaterial Subsidiaries); 

  
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 (dd) Liens solely on any cash earnest money deposits made by the Borrower or
any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement permitted hereunder; 
 (ee) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto; and 

(ff) other Liens securing Indebtedness outstanding in an aggregate principal amount not to exceed $50,000,000. 

7.02 Investments. Make or hold any Investments, except: 

(a) Investments held by the Borrower or such Restricted Subsidiary in the form of Cash Equivalents; 

(b) loans or advances to officers, directors and employees of the Borrower and Restricted Subsidiaries (i) in an
aggregate amount not to exceed $5,000,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes (including payroll payments in the ordinary course of business), and (ii) in connection with such
Person’s purchase of Equity Interests of Holdings or any direct or indirect parent thereof in an aggregate amount not to exceed $3,000,000; 
 (c) Investments (i) by the Borrower or any of its Restricted Subsidiaries in any Loan Party (excluding Holdings but including any new Restricted Subsidiary which becomes a Loan Party), and
(ii) by any Restricted Subsidiary of the Borrower that is not a Loan Party in any other such Restricted Subsidiary that is also not a Loan Party; 
 (d) Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business (including advances
made to distributors consistent with past practice), Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors, and Investments consisting of prepayments to suppliers in the ordinary course of
business and consistent with past practice; 
 (e) Investments arising out of transactions permitted under
Sections 7.01, 7.03, 7.04, 7.05, 7.06; and 7.14. 
 (f)
Investments existing on the Effective Date and set forth on Schedule 7.02 and any modification, replacement, renewal or extension thereof; provided, that the amount of the original Investment is not increased except by the terms
of such Investment or as otherwise permitted by this Section 7.02; 
 (g) Investments in Swap
Contracts permitted under Section 7.03; 
 (h) promissory notes and other non-cash consideration
received in connection with Dispositions permitted by Section 7.05; 

  
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 (i) the purchase or other acquisition of all or substantially all of the
property and assets or business of, any Person or of assets constituting a business unit, a line of business or division of such Person, or of all of the Equity Interests in a Person that, upon the consummation thereof, will be a Restricted
Subsidiary that is wholly owned directly by the Borrower or one or more of its wholly owned Restricted Subsidiaries (including, without limitation, as a result of a merger or consolidation); provided, that, with respect to each purchase or
other acquisition made pursuant to this Section 7.02(i) (each, a “Permitted Acquisition”): 
 (A) each applicable Loan Party and any such newly created or acquired Restricted Subsidiary shall have complied with the requirements of Section 6.12; 

(B) the total cash and noncash consideration (including, without limitation, the fair market value of all Equity Interests
issued or transferred to the sellers thereof, earnouts and other contingent payment obligations to such sellers and all assumptions of Indebtedness in connection therewith) paid by or on behalf of the Borrower and its Restricted Subsidiaries for any
such purchase or other acquisition of an entity that does not become a Guarantor or of assets that do not become Collateral, when aggregated with the total cash and noncash consideration paid by or on behalf of the Borrower and its Restricted
Subsidiaries for all other purchases and other acquisitions made by the Borrower and its Restricted Subsidiaries of entities that do not become Guarantors or of assets that do not become Collateral, pursuant to this Section 7.02(i),
shall not exceed $50,000,000; 
 (C)(1) immediately before and immediately after giving Pro Forma Effect to any
such purchase or other acquisition, no Default shall have occurred and be continuing and (2) immediately after giving effect to such purchase or other acquisition, the Borrower and its Restricted Subsidiaries shall be in Pro Forma
Compliance with all of the covenants set forth in Section 7.11, such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent and the Lenders pursuant to
Section 6.01(a) or (b) as though such purchase or other acquisition had been consummated as of the first day of the fiscal period covered thereby and evidenced by a certificate from the Chief Financial Officer of the Borrower
demonstrating such compliance calculation in reasonable detail; and 
 (D) the Borrower shall have delivered to
the Administrative Agent, on behalf of the Lenders, at least one (1) Business Day prior to the date on which any such purchase or other acquisition is to be consummated, a certificate of a Responsible Officer, in form and substance reasonably
satisfactory to the Administrative Agent, certifying that all of the requirements set forth in this clause (i) have been satisfied or will be satisfied on or prior to the consummation of such purchase or other acquisition; 

(j) Investments in Joint Ventures, such Investments not to exceed $25,000,000 in the aggregate at any one time
outstanding; provided, that prior to making 

  
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any Investments under this Section 7.03(j), the Borrower shall have delivered to the Administrative Agent a pro forma Compliance Certificate demonstrating that, after giving
Pro Forma Effect to such Investment(s), the Loan Parties would be in compliance with the financial covenants set forth in Section 7.11; provided, further that such Compliance Certificate shall be accompanied by a statement
in reasonable detail from the Borrower setting out the business rationale for such Investment; 
 (k) Investments
in the ordinary course of business consisting of (i) endorsements for collection or deposit and (ii) customary trade arrangements with customers consistent with past practices; 

(l) Investments (including debt obligations and Equity Interests) received in connection with the bankruptcy or
reorganization of suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business and upon the foreclosure with respect to any secured Investment or
other transfer of title with respect to any secured Investment; 
 (m) the licensing, sublicensing or
contribution of IP Rights pursuant to joint marketing arrangements with Persons other than Holdings and its Restricted Subsidiaries; 
 (n) loans and advances to Holdings in lieu of, and not in excess of the amount of (after giving effect to any other loans, advances or Restricted Payments in respect thereof), Restricted Payments to the
extent permitted to be made to Holdings in accordance with Section 7.06; 
 (o) so long as
immediately after giving effect to any such Investment, no Event of Default has occurred and is continuing, other Investments not exceeding $65,000,000 in the aggregate; provided, however, that, such amount may be increased by the Net
Cash Proceeds of Permitted Equity Issuances; provided, further, that, to the extent that any such Investment (or series of related Investments) made pursuant to this clause (o) consists of the contribution(s) or other
transfer(s) of property (other than cash) having an aggregate net book value in excess of $5,000,000 to a Joint Venture for consideration less than the fair market value of such property, then the Borrower shall have delivered to the Administrative
Agent a pro forma Compliance Certificate demonstrating that, upon after giving Pro Forma Effect to such Investment(s), the Loan Parties would be in compliance with the financial covenants set forth in Section 7.11; 

(p) the Wakefield Bond Guaranty, the Gaylord Bond Guaranty and the Lenox Bond Guaranty; 

(q) loans or advances made to distributors in the ordinary course of business and consistent with past practice;

 (r) Investments to the extent that payment for such Investments is made solely by the issuance of Equity
Interests (other than Disqualified Equity Interests) of Holdings (or any direct or indirect parent of Holdings) to the seller of such Investments; 

  
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 (s) Investments of a Restricted Subsidiary that is acquired after the
Closing Date or of a company merged or amalgamated or consolidated into the Borrower or merged, amalgamated or consolidated with a Restricted Subsidiary, in each case in accordance with Section 7.04 after the Closing Date to the extent that
such Investments were not made in contemplation of or in connection with such acquisition, merger, amalgamation or consolidation, do not constitute a material portion of the aggregate assets acquired by the Borrower and its Restricted Subsidiaries
in such transaction and were in existence on the date of such acquisition, merger or consolidation; and 
 (t)
Investments made with the portion, if any, of the Cumulative Credit on the date of such election that the Borrower elects to apply to this Section 7.02(t), such election to be specified in a written notice of a Responsible Officer of the
Borrower calculating in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be so applied; provided that (A) immediately before and immediately after giving Pro Forma Effect to
any such Investment, no Default shall have occurred and be continuing; and (B) immediately after giving effect to any such Investment, the Borrower and its Restricted Subsidiaries shall be in Pro Forma Compliance with the Interest
Coverage Ratio covenant set forth in Section 7.11 and with a maximum Total Leverage Ratio of 5.25:1.0, such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent and the
Lenders pursuant to Section 6.01(a) or (b) as though such Investment had been consummated as of the first day of the fiscal period covered thereby and evidenced by a certificate from the Chief Financial Officer of the
Borrower demonstrating such compliance calculation in reasonable detail. 
 7.03 Indebtedness. Create, incur, assume or
suffer to exist any Indebtedness, except: 
 (a) in the case of the Borrower: 

(i) Indebtedness in respect of Swap Contracts designed to hedge against fluctuations in interest rates, foreign exchange
rates or commodities pricing risks incurred in the ordinary course of business and consistent with prudent business practice and not for speculative purposes; and 

(ii) Indebtedness in an aggregate principal amount not to exceed $430 million at any one time outstanding evidenced by the
Senior Notes and any Permitted Refinancing thereof; 
 (b) in the case of the Borrower and its Restricted
Subsidiaries: 
 (i) Indebtedness of the Loan Parties under the Loan Documents; 

(ii) Indebtedness outstanding or committed to be incurred on the Effective Date and listed on Schedule 7.03
and any Permitted Refinancing thereof; 

  
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 (iii) Guarantees of any Loan Party in respect of Indebtedness of the
Borrower or a Restricted Subsidiary otherwise permitted hereunder; 
 (iv) Indebtedness of (A) any Loan
Party owing to any other Loan Party (other than Holdings), (B) of any Restricted Subsidiary that is not a Loan Party owed to (1) any other Restricted Subsidiary that is not a Loan Party or (2) any Loan Party (other than Holdings) in
respect of an Investment permitted under Section 7.02(c) or Section 7.02(o), and (C) of any Loan Party to any Restricted Subsidiary which is not a Loan Party; provided, that all such Indebtedness of any Loan Party
in this clause (iv)(C) must be expressly subordinated to the Obligations; 
 (v) Attributable
Indebtedness and purchase money obligations (including obligations in respect of mortgage, industrial revenue bond, industrial development bond and similar financings) to finance the purchase, repair or improvement of fixed or capital assets within
the limitations set forth in Section 7.01(i); provided, however, that the aggregate amount of all such Indebtedness at any one time outstanding shall not exceed $25,000,000; 

(vi) Indebtedness of Restricted Subsidiaries that are Foreign Subsidiaries in an aggregate principal amount at any time
outstanding for all such Persons taken together not exceeding $25,000,000; 
 (vii) Indebtedness in respect of
Swap Contracts designed to hedge against fluctuations in interest rates, foreign exchange rates or commodities pricing risks incurred in the ordinary course of business and not for speculative purposes; 

(viii) Indebtedness (other than for borrowed money) secured by Liens permitted under Section 7.01 (other than
Section 7.01(bb)); 
 (ix) [reserved]; 

(x) Indebtedness representing deferred compensation to employees of the Borrower and its Restricted Subsidiaries;

 (xi) Indebtedness consisting of promissory notes issued by any Loan Party to current or former officers,
directors and employees, their respective estates, spouses or former spouses to finance the purchase or redemption of Equity Interests of Holdings or its direct or indirect parent permitted by Section 7.06; 

(xii) Indebtedness incurred by the Borrower or its Restricted Subsidiaries in a Permitted Acquisition or Disposition under
agreements providing for the adjustment of the purchase price or similar adjustments; 
 (xiii) Indebtedness
consisting of obligations of the Borrower or its Restricted Subsidiaries under deferred consideration or other similar arrangements 

  
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incurred by such Person in connection with Permitted Acquisitions in an aggregate amount not to exceed $10,000,000; 

(xiv) Indebtedness in respect of netting services, overdraft protections and similar arrangements in each case in
connection with deposit accounts; 
 (xv) Indebtedness in an aggregate principal amount not to exceed $50,000,000
at any time outstanding; 
 (xvi) the Wakefield Bond Guaranty, the Gaylord Bond Guaranty and the Lenox Bond
Guaranty; 
 (xvii)(A) Indebtedness consisting of (a) the financing of insurance premiums or
(b) take-or-pay obligations contained in supply arrangements, in the case of the foregoing clauses (a) and (b) in the ordinary course of business and (B) Indebtedness incurred by the Borrower or any of its Restricted Subsidiaries
in respect of bank guarantees issued for the account of Foreign Subsidiaries, warehouse receipts or similar instruments (other than letters of credit) issued or created in the ordinary course of business, including in respect of workers compensation
claims, health, disability or other employee benefits or property, casualty or liability insurance or self insurance, or other Indebtedness with respect to reimbursement type obligations (other than obligations in respect of letters of credit)
regarding workers compensation claims; provided that any reimbursement obligations in respect thereof are reimbursed within 30 days following the due date thereof; 

(xviii) obligations in respect of performance, bid, appeal and surety bonds and performance and completion guarantees and
similar obligations provided by the Borrower or any of its Restricted Subsidiaries; 
 (xix) Indebtedness
incurred by a Loan Party constituting Senior Secured Notes; 
 (xx) Indebtedness incurred by a Loan Party
constituting Permitted Ratio Debt; and 
 (xxi) Indebtedness incurred by a Loan Party constituting Specified
Refinancing Debt. 
 7.04 Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another Person, or
Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Event of Default exists or would result
therefrom: 
 (a) any Restricted Subsidiary may merge with (i) the Borrower (including a merger, the purpose
of which is to reorganize the Borrower into a new jurisdiction), provided, that the Borrower shall be the continuing or surviving Person or the surviving Person shall expressly assume the obligations of the Borrower pursuant to documents

  
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reasonably acceptable to the Administrative Agent, or (ii) any one or more other Restricted Subsidiaries, provided, that when any Guarantor is merging with another Restricted
Subsidiary, (A) the Guarantor shall be the continuing or surviving Person or (B) to the extent constituting an Investment, such Investment must be a permitted Investment in or Indebtedness of a Restricted Subsidiary which is not a Loan
Party in accordance with Sections 7.02 and 7.03; 
 (b) (i) any Subsidiary that is not a Loan
Party may merge, amalgamate or consolidate with or into any other Subsidiary that is not a Loan Party and (ii) any Subsidiary may liquidate or dissolve, or the Borrower or any Subsidiary may (if the perfection and priority of the Liens securing
the Obligations is not adversely affected thereby) change its legal form if the Borrower determines in good faith that such action is in the best interest of the Borrower and its Subsidiaries and is not materially disadvantageous to the Lenders (it
being understood that in the case of any dissolution of a Subsidiary that is a Guarantor, such Subsidiary shall at or before the time of such dissolution transfer its assets to another Subsidiary that is a Guarantor; and in the case of any change in
legal form, a Subsidiary that is a Guarantor will remain a Guarantor unless such Guarantor is otherwise permitted to cease being a Guarantor hereunder); 
 (c) any Restricted Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower or to another Restricted Subsidiary; provided, that if
the transferor in such a transaction is a Guarantor, then (i) the transferee must either be the Borrower or a Guarantor or (ii) to the extent constituting an Investment, such Investment must be a permitted Investment in or Indebtedness of
a Restricted Subsidiary which is not a Loan Party in accordance with Sections 7.02 and 7.03, respectively; 
 (d) any Restricted Subsidiary may merge with any other Person in order to effect an Investment permitted pursuant to Section 7.02; provided, that (i) the continuing or surviving
Person shall be a Restricted Subsidiary, which together with each of its Subsidiaries, shall have complied with the requirements of Section 6.12 or (ii) to the extent constituting an Investment, such Investment must be a permitted
Investment in accordance with Section 7.02; and 
 (e) a merger, dissolution, liquidation,
consolidation or Disposition, the purpose of which is to effect a Disposition permitted pursuant to Section 7.05 (other than Section 7.05(e)(A)). 
 7.05 Dispositions. Make any Disposition, except: 
 (a)
Dispositions of obsolete, surplus or worn out property, whether now owned or hereafter acquired, in the ordinary course of business and Dispositions of property no longer used or useful in the conduct of the business of the Borrower and its
Restricted Subsidiaries (including allowing any registrations or any applications for registration of any immaterial intellectual property to lapse or go abandoned); 

  
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 (b) Dispositions of inventory and goods held for sale in the ordinary course
of business; 
 (c) Dispositions of property to the extent that (i) such property is exchanged for credit
against the purchase price of similar replacement property or (ii) the proceeds of such Disposition are promptly applied to the purchase price of such replacement property; 

(d) [reserved]; 
 (e)(A) Dispositions permitted by Section 7.04, (B) Investments permitted by Section 7.02, and (C) Restricted Payments permitted by Section 7.06; 

(f) Dispositions by the Borrower and its Restricted Subsidiaries of property pursuant to sale-leaseback transactions;
provided, that (i) the fair market value of all property so Disposed of shall not exceed $25,000,000 from and after the Effective Date and (ii) the purchase price for such property shall be paid to the Borrower or such Restricted
Subsidiary for not less than 75% cash consideration; 
 (g) Dispositions of Cash Equivalents; 

(h) Dispositions of accounts receivable in connection with the collection or compromise thereof; 

(i) licensing or sublicensing of IP Rights in the ordinary course of business on customary terms; 

(j) sales of property (A) between Loan Parties (other than Holdings), (B) between Restricted Subsidiaries (other
than Loan Parties), or (C) by Restricted Subsidiaries that are not Loan Parties to the Loan Parties (other than Holdings), in each case in the ordinary course of business; 

(k) leases, subleases, licenses or sublicenses of property in the ordinary course of business and which do not materially
interfere with the business of the Borrower and its Restricted Subsidiaries; 
 (l) transfers of property subject
to Casualty Events upon receipt of the Net Cash Proceeds of such Casualty Event; and 
 (m) Dispositions by the
Borrower and its Restricted Subsidiaries not otherwise permitted under this Section 7.05; provided, that (i) at the time of such Disposition (other than any such Disposition made pursuant to a legally binding commitment
entered into at a time when no Event of Default exists), no Event of Default shall exist or would result from such Disposition, (ii) the aggregate book value of all property Disposed of in reliance on this clause (m) shall not
exceed $75,000,000 and (iii) the purchase price for such property shall be paid to the Borrower or such Restricted Subsidiary for not less than 75% cash consideration; 

  
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 provided, however, that any Disposition of any property pursuant to this
Section 7.05 (except pursuant to Sections 7.05(e), (h) and (j)), shall be for no less than the fair market value of such property at the time of such Disposition. To the extent any Collateral is Disposed of
as expressly permitted by this Section 7.05, such Collateral shall be sold free and clear of the Liens created by the Loan Documents, and the Administrative Agent shall be authorized to take any actions deemed appropriate in order to
effect the foregoing. 
 7.06 Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment,
except: 
 (a) each Restricted Subsidiary may make Restricted Payments to the Borrower and to Restricted
Subsidiaries (and, in the case of a Restricted Payment by a non-wholly-owned Restricted Subsidiary, to the Borrower and any Restricted Subsidiary and to each other owner of Equity Interests of such Restricted Subsidiary based on their relative
ownership interests); 
 (b) the Borrower and each Restricted Subsidiary may declare and make dividend payments
or other distributions payable solely in the Equity Interests (other than Disqualified Equity Interests) of such Person; 
 (c) the Borrower may make Restricted Payments with the cash proceeds contributed to its common equity from the Net Cash Proceeds of any Permitted Equity Issuance, so long as, with respect to any such
Restricted Payments, no Event of Default shall have occurred and be continuing or would result therefrom; 
 (d)
to the extent constituting Restricted Payments, the Borrower and its Restricted Subsidiaries may enter into transactions expressly permitted by Section 7.02, 7.04, 7.08 or 7.14; 

(e) the Borrower or any Restricted Subsidiary may make Restricted Payments to Holdings, so long as, with respect to any
such Restricted Payments, no Event of Default under Section 8.01(a), (f) or (g) shall have occurred and be continuing or would result therefrom: 

(i) the proceeds of which will be used to pay the tax liability in respect of consolidated, combined, unitary or
affiliated returns for the relevant jurisdiction of Holdings attributable to the Borrower and its Subsidiaries determined as if the Borrower and its Subsidiaries filed separately; 

(ii) the proceeds of which shall be used by Holdings to pay (or to make a Restricted Payment to its direct or indirect
parent to enable it to pay) (a) its operating expenses incurred in the ordinary course of business and other corporate overhead costs and expenses (including, without limitation, administrative, legal, accounting and similar expenses provided
by third parties), which are reasonable and customary and incurred in the ordinary course of business, in an aggregate amount not to exceed $1,000,000 in any fiscal year plus any reasonable and customary indemnification claims made by
directors or officers of Holdings attributable to the ownership or operations of the Borrower and its Restricted 

  
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Subsidiaries or (b) the fees and other amounts described in Section 7.08(d) to the extent that the Borrower would be then permitted under such Section 7.08(d) to pay
such fees and other amounts directly; 
 (iii) the proceeds of which shall be used by Holdings to pay its (or to
make a Restricted Payment to its direct or indirect parent to enable it to pay) franchise taxes; 
 (iv) the
proceeds of which will be used (but only if required to be so used pursuant to a binding agreement, unless no Default shall have occurred and be continuing or would result therefrom) to repurchase the Equity Interests of Holdings (or to make a
Restricted Payment to its direct or indirect parent to enable it to repurchase its Equity Interest) from directors, employees or members of management of Holdings or any Restricted Subsidiary (or their estate, family members, spouse and/or former
spouse), in an aggregate amount not in excess of (A) $5,000,000 (or $7,000,000 after a Qualified IPO) in any calendar year; provided, that the Borrower may carry-over and make in any subsequent calendar year or years, in addition to the
amount for such calendar year, the amount not utilized in the prior calendar year or years up to a maximum of $10,000,000 (or $20,000,000 after a Qualified IPO); provided, further, that the amounts set forth in this clause (e)(iv)
may be further increased by (A) the proceeds of any key-man life insurance maintained by Holdings (or its direct or indirect parent), the Borrower or a Restricted Subsidiary, plus (B) to the extent contributed in cash to the common equity
of the Borrower, the Net Proceeds from the sale of Equity Interests of any of the Borrower’s direct or indirect parent companies, in each case to members of management, managers, directors or consultants of Holdings, the Borrower, any of its
Subsidiaries or any of its direct or indirect parent companies that occurs after the Closing Date; 
 (v) the
proceeds of which are applied to the purchase or other acquisition by Holdings of all or substantially all of the property and assets or business of any Person, or of assets constituting a business unit, a line of business or division of such
Person, or of all of the Equity Interests in a Person that, provided that if such purchase or other acquisition had been made by the Borrower, it would have constituted a “Permitted Acquisition” permitted to be made pursuant to
Section 7.02; provided, that (A) such Restricted Payment shall be made concurrently with the closing of such purchase or other acquisition and (B) Holdings shall, immediately following the closing thereof, cause (1) all
property acquired (whether assets or Equity Interests) to be contributed to the Borrower or its Restricted Subsidiaries or (2) the merger (to the extent permitted in Section 7.04) of the Person formed or acquired into the Borrower
or its Restricted Subsidiaries in order to consummate such purchaser or other acquisition; 
 (vi) repurchases of
Equity Interests of Holdings deemed to occur upon the non-cash exercise of stock options and warrants; and 

  
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 (vii) the proceeds of which shall be used by Holdings to pay, or to make
Restricted Payments to allow any direct or indirect parent thereof to pay, other than to Affiliates of Holdings (other than Affiliates that are bona fide investment banks), a portion of any customary fees and expenses related to any unsuccessful
equity offering by Holdings (or any direct or indirect parent thereof), or any unsuccessful debt offering by any direct or indirect parent of Holdings, in each case directly attributable to the operations of the Borrower and its Restricted
Subsidiaries; 
 (f) in addition to the foregoing Restricted Payments, the Borrower may make additional
Restricted Payments to Holdings in an aggregate amount not to exceed the sum of (1) an amount (which shall not be less than zero) equal to $25,000,000 minus the aggregate of all prepayments of Indebtedness made pursuant to
Section 7.14(a)(v); plus (2) the portion, if any, of the Cumulative Credit on the date of such election that the Borrower elects to apply to this Section 7.06(f)(2), such election to be specified in a written
notice of a Responsible Officer of the Borrower calculating in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be so applied, provided that (in the case of this
Section 7.06(f)(2)) (A) immediately before and immediately after giving Pro Forma Effect to any such Restricted Payment, no Default shall have occurred and be continuing; and (B) immediately after giving effect to any such
Restricted Payment, (x) the Borrower and its Restricted Subsidiaries shall be in Pro Forma Compliance with the Interest Coverage Ratio covenant set forth in Section 7.11 and with a maximum Total Leverage Ratio of 5.0:1.0,
such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent and the Lenders pursuant to Section 6.01(a) or (b) as though such Restricted Payment had been made
as of the first day of the fiscal period covered thereby and evidenced by a certificate from the Chief Financial Officer of the Borrower demonstrating such compliance calculation in reasonable detail, and (y) at least $20,000,000 of the
Revolving Credit Facility shall be available for the borrowing of Revolving Credit Loans; 
 (g) after a
Qualified IPO, Restricted Payments of up to 6% per annum of the Net Cash Proceeds contributed to the common equity of the Borrower from such Qualified IPO; 
 (h) Restricted Payments made (i) on the Closing Date to consummate the Transaction, (ii) out of the cash proceeds received by the Borrower in respect of working capital adjustments or purchase
price adjustments pursuant to the Merger Agreement (provided that the condition set out in Section 4.01(b) would have been satisfied on the Closing Date if the actual amount of the Equity Contribution on the Closing Date had been reduced
by the amount of any Restricted Payment made in reliance on this clause (ii)) and (iii) in order to satisfy indemnity and other similar obligations under the Merger Agreement; 

(i) repurchases of Equity Interests to fund the payment of withholding or similar Taxes that are payable by any future,
present or former employee, director, manager or consultant (or any spouse, former spouse, successor, executor, administrator, 

  
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heir, legatee or distributee of any of the foregoing) in connection with the exercise of stock options; and 

(j) the Borrower may pay cash dividends to Holdings to permit Holdings to pay cash dividends to its shareholders on or
after the Effective Date in an amount not to exceed $65,000,000 in the aggregate, provided that immediately before and immediately after giving Pro Forma Effect to any such dividend, no Default shall have occurred and be continuing.

 7.07 Change in Nature of Business. Engage in any material line of business substantially different from those lines of
business conducted by the Borrower and its Restricted Subsidiaries on the date hereof or any business reasonably related or ancillary thereto. 
 7.08 Transactions with Affiliates. Enter into any transaction of any kind with any Affiliate of the Borrower, whether or not in the ordinary course of business, other than (a) transactions
among Loan Parties (other than Holdings) and their Restricted Subsidiaries, (b) on fair and reasonable terms substantially as favorable to the Borrower or such Restricted Subsidiary as would be obtainable by the Borrower or such Restricted
Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate, (c) the Transaction and the payment of fees and expenses in connection with the consummation of the Transaction, (d) so long as no
Event of Default under Section 8.01(a), (f) or (g) shall have occurred and be continuing, the payment of fees (including termination payments) to the Sponsor and THL pursuant to the Sponsor Management Agreement
and related indemnities and reasonable expenses, (e) customary fees and indemnities may be paid to any directors of Holdings, the Borrower and its Restricted Subsidiaries (and, to the extent directly attributable to the operations of the
Borrower and its Restricted Subsidiaries, to any direct or indirect parent of Holdings) and reasonable out-of-pocket costs of such Persons may be reimbursed, (f) the Borrower and its Restricted Subsidiaries may enter into employment and
severance arrangements with officers and employees in the ordinary course of business and transactions pursuant to stock option plans and employee benefit plans and arrangements in the ordinary course of business, (g) the Borrower and its
Restricted Subsidiaries may make payments pursuant to the tax sharing agreements among the Borrower and its Restricted Subsidiaries, (h) Restricted Payments permitted under Section 7.06, (i) Investments in the Borrower’s
Subsidiaries and Joint Ventures (to the extent any such Subsidiary that is not a Restricted Subsidiary or any such Joint Venture is only an Affiliate as a result of Investments by Holdings and its Restricted Subsidiaries in such Subsidiary or Joint
Venture) to the extent otherwise permitted under Section 7.02, (j) any payments required to be made pursuant to the Merger Agreement, and (k) so long as no Default shall have occurred and be continuing, transactions pursuant to
agreements in existence on the Effective Date and set forth on Schedule 7.08 or any amendment thereto to the extent such an amendment is not adverse to the Lenders in any material respect. 

7.09 Burdensome Agreements. Enter into or permit to exist any Contractual Obligation (other than this Agreement or any other Loan
Document) that limits the ability (a) of any Restricted Subsidiary of the Borrower to make Restricted Payments to the Borrower or any Guarantor which is a Restricted Subsidiary of the Borrower or to otherwise transfer property to or invest in
the Borrower or any Guarantor, except for (i) any agreement in effect on the Effective Date, (ii) any agreement in effect at the time any Restricted Subsidiary becomes a 

  
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 Subsidiary of the Borrower, so long as such agreement was not entered into solely in contemplation of such
Person becoming a Subsidiary of the Borrower, (iii) any agreement representing Indebtedness of a Restricted Subsidiary of the Borrower which is not a Loan Party which is permitted by Section 7.03, (iv) any agreement in
connection with a Disposition permitted by Section 7.05, (v) customary provisions in joint venture agreements or other similar agreements applicable to joint ventures permitted under Section 7.02 and applicable solely to
such joint venture entered into in the ordinary course of business or (vi) customary provisions restricting assignment of any agreement entered into in the ordinary course of business, or (b) of the Borrower or any Loan Party (other than
Holdings) to create, incur, assume or suffer to exist Liens on property of such Person for the benefit of the Lenders with respect to the Facilities and the Obligations or under the Loan Documents except for (i) negative pledges and
restrictions on Liens in favor of any holder of Indebtedness permitted under Section 7.03(b)(v) but solely to the extent any negative pledge relates to the property financed by or the subject of such Indebtedness, (ii) customary
restrictions on leases, subleases, licenses or asset sale agreements otherwise permitted hereby so long as such restrictions may relate to the assets subject thereto, (iii) customary restrictions contained in the Senior Notes, Specified
Refinancing Debt and Permitted Ratio Debt (provided that such restrictions do not restrict the Liens securing the Obligations or the first priority status thereof), (iv) restrictions arising in connection with cash or other deposits permitted
under Sections 7.01 or 7.02 and limited to such cash or deposit, or (v) customary provisions restricting assignment of any agreement entered into in the ordinary course of business. 

7.10 Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or indirectly, to purchase or carry margin stock
(within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund Indebtedness originally incurred for such purpose. 

7.11 Financial Covenants. 
 (a) Total Leverage Ratio. Permit the Total Leverage Ratio as of the end of any fiscal quarter of the Borrower set forth below to be greater than the ratio set forth below opposite such period:

  

																	
	 Fiscal Year
	  	March 31	 	  	June 30	 	  	September 30	 	  	December 31	 
	 2011
	  	 	7.00:1.00	  	  	 	7.00:1.00	  	  	 	7.00:1.00	  	  	 	7.00:1.00	  
	 2012
	  	 	7.00:1.00	  	  	 	7.00:1.00	  	  	 	7.00:1.00	  	  	 	6.75:1.00	  
	 2013
	  	 	6.75:1.00	  	  	 	6.75:1.00	  	  	 	6.50:1.00	  	  	 	6.50:1.00	  
	 2014
	  	 	6.50:1.00	  	  	 	6.50:1.00	  	  	 	6.25:1.00	  	  	 	6.00:1.00	  
	 2015
	  	 	6.00:1.00	  	  	 	6.00:1.00	  	  	 	6.00:1.00	  	  	 	6.00:1.00	  
	 2016
	  	 	6.00:1.00	  	  	 	6.00:1.00	  	  	 	6.00:1.00	  	  	 	6.00:1.00	  
	 2017
	  	 	5.75:1.00	  	  	 	5.75:1.00	  	  	 	5.75:1.00	  	  	 	5.75:1.00	  

  
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 (b) Interest Coverage Ratio. Permit the Interest Coverage Ratio as of the end of any
fiscal quarter of the Borrower as set forth below to be less than the ratio set forth below opposite such fiscal quarter: 
  

																	
	 Fiscal Year
	  	March 31	 	  	June 30	 	  	September 30	 	  	December 31	 
	 2011
	  	 	1.80:1.00	  	  	 	1.80:1.00	  	  	 	1.80:1.00	  	  	 	1.85:1.00	  
	 2012
	  	 	1.85:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  
	 2013
	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  
	 2014
	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  
	 2015
	  	 	1.95:1.00	  	  	 	1.95:1.00	  	  	 	1.95:1.00	  	  	 	1.95:1.00	  
	 2016
	  	 	2.00:1.00	  	  	 	2.00:1.00	  	  	 	2.00:1.00	  	  	 	2.00:1.00	  
	 2017
	  	 	2.00:1.00	  	  	 	2.00:1.00	  	  	 	2.00:1.00	  	  	 	2.00:1.00	  

 7.12 Amendments of
Organization Documents. Amend any of its Organization Documents in a manner materially adverse to the Administrative Agent or the Lenders. 
 7.13 Accounting Changes. Make any change in (a) accounting policies or reporting practices, except as required or permitted by GAAP, or (b) fiscal year. 

7.14 Prepayments, Etc. of Indebtedness. (a) Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled
maturity thereof in any manner any of the Senior Notes, any Permitted Ratio Debt or any unsecured Specified Refinancing Debt or Senior Secured Notes that are (pursuant to the definition thereof) unsecured (collectively, together with any Permitted
Refinancing of the foregoing, “Junior Financing”), or make any payment in violation of any subordination terms of any Junior Financing Documentation, except (i) a prepayment of Junior Financing made using the
portion, if any, of the Cumulative Credit on the date of such election that the Borrower elects to apply to this Section 7.14(a)(i), such election to be specified in a written notice of a Responsible Officer of the Borrower calculating
in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be so applied; provided that (A) immediately before and immediately after giving Pro Forma Effect to any such prepayment,
no Default shall have occurred and be continuing; and (B) immediately after giving effect to any such prepayment, (x) the Borrower and its Restricted Subsidiaries shall be in Pro Forma Compliance with the Interest Coverage Ratio
covenant set forth in Section 7.11 and with a maximum Total Leverage Ratio of 5.25:1, such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent and the Lenders pursuant
to Section 6.01(a) or (b) as though such prepayment had been made as of the first day of the fiscal period covered thereby and evidenced by a certificate from the Chief Financial Officer of the Borrower demonstrating such
compliance calculation in reasonable detail, and (y) at least $20,000,000 of the Revolving Credit Facility shall be available for the borrowing of Revolving Credit Loans, (ii) the refinancing of the Senior Notes or any other Junior
Financing with the Net Cash Proceeds of any Permitted Ratio Debt or of any Permitted Equity Issuance, in each case, to the extent not required to prepay any Loans or Facility pursuant to Section 2.05(b), (iii) the conversion of any
Junior Financing to Equity Interests (other than Disqualified Equity Interests), (iv) [reserved], (v) the prepayment of any 

  
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 Junior Financing or Permitted Refinancing thereof, in an aggregate amount not to exceed (x) $10,000,000
plus (y) the amount, if any, that is then available for Restricted Payments pursuant to Section 7.06(f)(1) (as such amount may be reduced from time to time in accordance with the terms of such Section 7.06(f)(1)),
and (vi) the redemption of the Discharged Existing Notes pursuant to the redemption notice referred to in the definition thereof; or (b) amend, modify or change in any manner materially adverse to the interests of the Administrative Agent
or the Lenders any term or condition of any Junior Financing Documentation. 
 7.15 Reserved. 

7.16 Holding Company. In the case of Holdings, (i) conduct, transact or otherwise engage in any business or operations other
than those incidental to its ownership of the Equity Interests of the Borrower and the performance of the Loan Documents, (ii) incur any Indebtedness (other than pursuant to any Loan Document and other than Guarantees of Senior Secured Notes,
Specified Refinancing Debt and Permitted Ratio Debt), (iii) create, incur, assume or suffer to exist any Lien on any Equity Interests of the Borrower (other than Liens pursuant to any Loan Document or non-consensual Liens arising solely by
operation of law); or (iv) permit the Borrower to be a Subsidiary that is not wholly owned by Holdings. Nothing in this Section 7.16 shall prevent Holdings from (i) the maintenance of its legal existence (including the ability
to incur fees, costs and expenses relating to such maintenance), (ii) the performance of its obligations with respect to the Loan Documents, (iii) any public offering of its common stock or any other issuance or sale of its Equity
Interests (other than Disqualified Equity Interests), (iv) payment of dividends, making contributions to the capital of the Borrower, (v) participating in tax, accounting and other administrative matters as a member of the consolidated
group of Holdings and the Borrower, (vi) holding any cash (but not operating any property), (vii) providing indemnification to officers, managers and directors, (vii) any activities incidental to compliance with the provisions of the
Securities Act of 1933, as amended and the Exchange Act of 1934, as amended, any rules and regulations promulgated thereunder, and the rules of national securities exchanges, in each case, as applicable to companies with listed equity or debt
securities, as well as activities incidental to investor relations, shareholder meetings and reports to shareholders or debtholders and (viii) any activities incidental to the foregoing. 

ARTICLE VIII 

EVENTS OF DEFAULT AND REMEDIES 
 8.01 Events of Default. Any of the following shall constitute an Event of Default: 
 (a) Non-Payment. The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan, or (ii) within five (5) Business
Days after the same becomes due, any interest on any Loan or on any L/C Obligation, any L/C Obligation or any fee due hereunder, or any other amount payable hereunder or with respect to any other Loan Document; or 

(b) Specific Covenants. The Borrower fails to perform or observe any term, covenant or agreement contained in any
of Sections 6.03(a), 6.05 (solely with respect to the Borrower) or Article VII (subject to, in the case of the financial covenants contained 

  
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 in Section 7.11, the cure rights contained in Section 8.03), or
Holdings fails to perform or observe any term, covenant or agreement contained in Section 7.16; or 

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

 (d) Representations and Warranties. Any representation, warranty, certification or statement of fact
made or deemed made by or on behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any document required to be delivered in connection herewith or therewith shall be incorrect or misleading in any material respect
when made or deemed made; or 
 (e) Cross-Default. (i) Any Loan Party or any Restricted Subsidiary
(A) fails to make any payment beyond the applicable grace period with respect thereto, if any (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness (other than Indebtedness
hereunder) having an aggregate principal amount of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness, or any other event occurs, the effect of which default or
other event is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to become
due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity; provided that this clause (e)(B) shall not
apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness, if such sale or transfer is permitted hereunder and under the documents providing for such
Indebtedness and such Indebtedness is repaid when required under the documents providing for such Indebtedness; provided, further, that such failure is unremedied and is not validly waived by the holders of such Indebtedness in accordance with the
terms of the documents governing such Indebtedness prior to any termination of the Revolving Credit Commitments or acceleration of the Loans pursuant to Section 8.02; or 

(f) Insolvency Proceedings, Etc. Any Loan Party or any of its Restricted Subsidiaries institutes or consents to the
institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar
officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment
continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and
continues undismissed or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding; or 

  
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 (g) Inability to Pay Debts; Attachment. (i) Any Loan Party or
any Restricted Subsidiary thereof becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against
all or any material part of the property of any such Person and is not released, vacated or fully bonded within sixty (60) days after its issue or levy; or 
 (h) Judgments. There is entered against any Loan Party or any Restricted Subsidiary a final judgment or order for the payment of money in an aggregate amount (as to all such judgments and orders)
exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer has been notified of such judgment or order and does not deny coverage) and there is a period of sixty (60) consecutive days
during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or 
 (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of any Loan Party under
Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount which could reasonably be expected to result in a Material Adverse Effect, or (ii) any Loan Party or any ERISA Affiliate fails to pay when due,
after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount which could reasonably be expected to result in
a Material Adverse Effect; or 
 (j) Invalidity of Loan Documents. Any provision of any Loan Document, at
any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder (including as a result of a transaction permitted under Section 7.04 or 7.05) or satisfaction in full of all
the Obligations, ceases to be in full force and effect; or any Loan Party contests in writing the validity or enforceability of any provision of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any
Loan Document (other than as a result of repayment in full of the Obligations and termination of the Aggregate Commitments), or purports to revoke or rescind any Loan Document; or 

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

(l) Collateral Documents. Any Collateral Document after delivery thereof pursuant to Section 4.01 or
6.12 shall for any reason (other than pursuant to the terms thereof including as a result of a transaction permitted under Section 7.04 or 7.05) cease to create a valid and perfected first priority lien on and security
interest in the Collateral covered thereby, subject to Liens permitted under Section 7.01, except to the extent that any such perfection or priority is not required pursuant to Section 4.01, Section 6.12 or
Section 6.14 or results from the failure of the Administrative Agent or the Collateral Agent to maintain possession of certificates actually delivered to it representing securities pledged under the Collateral Documents or to file
Uniform Commercial Code continuation statements. 

  
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 Solely for the purpose of determining whether a Default or Event of Default has occurred under
clause (f) or (g) of Section 8.01, any reference in any such clause to any Restricted Subsidiary shall be deemed to exclude any Immaterial Subsidiary (provided however that all Restricted Subsidiaries affected by any event or
circumstance referred to in any such clause shall be considered together, as a single consolidated Restricted Subsidiary, for purposes of determining whether the condition specified above is satisfied). 

8.02 Remedies Upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the
request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 
 (a)
declare the commitment of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 

(b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other
amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower; 

(c) require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount
thereof); and 
 (d) exercise on behalf of itself, the L/C Issuers and the Lenders all rights and remedies
available to it, the L/C Issuers and the Lenders under the Loan Documents, under any document evidencing Indebtedness in respect of which the Facilities have been designated as “Designated Senior Debt,” and/or under applicable Law;

 provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower
under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and
all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act
of the Administrative Agent or any Lender. 
 8.03 Right to Cure. Notwithstanding anything to the contrary contained in
Section 8.01 or 8.02, in the event that the Borrower fails to comply with the requirements of the covenants set forth in Section 7.11, then (A) until the expiration of the 5th day subsequent to the date the
relevant Compliance Certificate is required to be delivered pursuant to Section 6.02(b), the Borrower shall have the right to issue common equity for cash (the “Cure Right”), and upon the receipt by the Borrower
of such cash (the “Cure Amount”) pursuant to the exercise by the Borrower of such Cure Right, the calculation of EBITDA as used in the covenants set forth in Section 7.11 shall be recalculated giving effect to the
following pro forma adjustments: 
 (i) EBITDA shall be increased, solely for the purpose of measuring the

  
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 covenants set forth in Section 7.11 and not for any other purpose under this Agreement
(including but not limited to determining the availability or amount of any covenant baskets or carve-outs), by an amount equal to the Cure Amount; provided that the receipt by the Borrower of the Cure Amount pursuant to the Cure Right shall be
deemed to have no other effect whatsoever under this Agreement (including but not limited to determining the availability or amount of any covenant baskets or carve-outs); and 

(ii) If, after giving effect to the foregoing recalculations, the Borrower shall then be in compliance with the
requirements of the covenants set forth in Section 7.11, the Borrower shall be deemed to have satisfied the requirements of the covenants set forth in Section 7.11 as of the relevant date of determination with the same effect
as though there had been no failure to comply therewith at such date, and the applicable breach or default of the covenants set forth in Sections 7.11 that had occurred shall be deemed cured for the purposes of this Agreement; and

 (B) upon receipt by the Administrative Agent of written notice, prior to the expiration of the 10th day subsequent to the date the relevant financial statements are
required to be delivered pursuant to Section 6.01 (the “Anticipated Cure Deadline”), that the Borrower intends to exercise the Cure Right in respect of a fiscal quarter, the Lenders shall not be permitted to
accelerate Loans held by them or to exercise remedies against the Collateral on the basis of a failure to comply with the requirements of the covenants set forth in Section 7.11 until such failure is not cured pursuant to the exercise of
the Cure Right on or prior to the Anticipated Cure Deadline. 
 Notwithstanding anything herein to the contrary, (i) in each
four-fiscal-quarter period there shall be at least two fiscal quarters in respect of which the Cure Right is not exercised, (ii) there can be no more than four fiscal quarters in respect of which the Cure Right is exercised during the term of
the Term B Facility, and (iii) for purposes of this Section 8.03, the Cure Amount utilized shall be no greater than the amount required for purposes of complying with the covenants set forth in Section 6.11. 

8.04 Application of Funds. After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically
become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations shall, subject to the
provisions of Sections 2.17 and 2.18, be applied by the Administrative Agent in the following order: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts
(including fees, disbursements and other charges of counsel payable under Section 10.04 and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than
principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuers (including fees, disbursements and other charges of counsel payable under Section 10.05) arising under the Loan Documents and

  
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 amounts payable under Article III, ratably among them in proportion to the respective
amounts described in this clause Second payable to them; 
 Third, to payment of that portion of
the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuers in proportion to the respective amounts described in this clause Third payable
to them; 
 Fourth, to payment of that portion of the Obligations constituting unpaid principal of the
Loans, the L/C Borrowings and Obligations then owing under Secured Hedge Agreements and the Secured Cash Management Agreements, ratably among the Lenders, the L/C Issuers, the Hedge Banks and the Cash Management Banks in proportion to the respective
amounts described in this clause Fourth held by them; 
 Fifth, to the Administrative Agent for the
account of each L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Section 2.04 and 2.17;

 Sixth, to the payment of all other Obligations of the Loan Parties owing under or in respect of the
Loan Documents that are due and payable to the Administrative Agent and the other Secured Parties on such date, ratably based upon the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other Secured
Parties on such date; and 
 Last, the balance, if any, after all of the Obligations have been
indefeasibly paid in full, to the Borrower or as otherwise required by Law. 
 Subject to Sections 2.03(c) and 2.17, amounts used to
Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all
Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 
 Notwithstanding the foregoing, Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements shall be excluded from the application described above if the Administrative Agent
has not received written notice thereof, together with such supporting documentation as the Administrative Agent may reasonably request, from the applicable Cash Management Bank or Hedge Bank, as the case may be. Each Cash Management Bank or Hedge
Bank not a party to the Credit Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of
Article IX hereof for itself and its Affiliates as if a “Lender” party hereto. 
 ARTICLE IX 

ADMINISTRATIVE AGENT AND OTHER AGENTS 
 9.01 Appointment and Authorization of Agents. 

  
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 (a) Each Lender hereby irrevocably appoints, designates and authorizes the Administrative
Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any other Loan
Document, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein or in any other Loan Document, no Agent shall have any duties or responsibilities, except those
expressly set forth herein, nor shall any Agent have or be deemed to have any fiduciary relationship with any Lender or participant, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this
Agreement or any other Loan Document or otherwise exist against any Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent” herein and in the other Loan Documents with reference to any Agent is not
intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an
administrative relationship between independent contracting parties. 
 (b) Each L/C Issuer shall act on behalf of the Lenders
with respect to any Letters of Credit issued by it and the documents associated therewith, and such L/C Issuer shall have all of the benefits and immunities (i) provided to the Agents in this Article IX with respect to any acts taken or
omissions suffered by such L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and the applications and agreements for letters of credit pertaining to such Letters of Credit as fully as if the term
“Agent” as used in this Article IX and in the definition of “Agent-Related Person” included such L/C Issuer with respect to such acts or omissions, and (ii) as additionally provided herein with respect to such L/C
Issuer. 
 (c) The Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of
the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender for purposes of acquiring, holding and
enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Secured Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as
“collateral agent” (and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.02 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof)
granted under the Collateral Documents, or for exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all provisions of this Article IX (including, without limitation,
Section 9.07, as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein with respect thereto. 

9.02 Delegation of Duties. The Administrative Agent may execute any of its duties under this Agreement or any other Loan Document
(including for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents or of exercising any rights and remedies thereunder) by or through agents, employees or attorneys-in-fact and
shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such duties. The Administrative Agent shall not be 

  
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responsible for the negligence or misconduct of any agent or attorney-in-fact that it selects in the absence of gross negligence or willful misconduct. 

9.03 Liability of Agents. No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by any of
them under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby (except for its own gross negligence or willful misconduct in connection with its duties expressly set forth herein, to the extent
determined in a final, nonappealable judgment by a court of competent jurisdiction), or (b) be responsible in any manner to any Lender or participant for any recital, statement, representation or warranty made by any Loan Party or any officer
thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent under or in connection with, this Agreement or any other Loan
Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or the perfection or priority of any Lien or security interest created or purported to be created under the Collateral
Documents, or for any failure of any Loan Party or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Lender or participant to ascertain or to inquire
as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party or any Affiliate thereof. 

9.04 Reliance by Agents. 
 (a) Each Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, communication, signature, resolution, representation, notice, consent, certificate, affidavit, letter,
telegram, facsimile, telex or telephone message, electronic mail message, statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and
statements of legal counsel (including counsel to any Loan Party), independent accountants and other experts selected by such Agent. Each Agent shall be fully justified in failing or refusing to take any action under any Loan Document unless it
shall first receive such advice or concurrence of the Required Lenders as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred
by it by reason of taking or continuing to take any such action. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the
Required Lenders (or such greater number of Lenders as may be expressly required hereby in any instance) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders. 

(b) For purposes of determining compliance with the conditions specified in Section 4.01, each Lender that has signed this
Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Effective Date specifying its objection thereto. 

  
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 9.05 Notice of Default. The Administrative Agent shall not be deemed to have
knowledge or notice of the occurrence of any Default, except with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless the Administrative Agent
shall have received written notice from a Lender or the Borrower referring to this Agreement, describing such Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Lenders of its receipt of
any such notice. The Administrative Agent shall take such action with respect to any Event of Default as may be directed by the Required Lenders in accordance with Article VIII; provided, however, that unless and until the
Administrative Agent has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Event of Default as it shall deem advisable or in the best
interest of the Lenders. 
 9.06 Credit Decision; Disclosure of Information by Agents. Each Lender acknowledges that no
Agent-Related Person has made any representation or warranty to it, and that no act by any Agent hereafter taken, including any consent to and acceptance of any assignment or review of the affairs of any Loan Party or any Affiliate thereof, shall be
deemed to constitute any representation or warranty by any Agent-Related Person to any Lender as to any matter, including whether Agent-Related Persons have disclosed material information in their possession. Each Lender represents to each Agent
that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, prospects, operations, property,
financial and other condition and creditworthiness of the Loan Parties and their respective Subsidiaries, and all applicable bank or other regulatory Laws relating to the transactions contemplated hereby, and made its own decision to enter into this
Agreement and to extend credit to the Borrower and the other Loan Parties hereunder. Each Lender also represents that it will, independently and without reliance upon any Agent-Related Person and based on such documents and information as it shall
deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems necessary to inform itself
as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Borrower and the other Loan Parties. Except for notices, reports and other documents expressly required to be furnished to the Lenders by
any Agent herein, such Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any of
the Loan Parties or any of their respective Affiliates which may come into the possession of any Agent-Related Person. 
 9.07
Indemnification of Agents. Whether or not the transactions contemplated hereby are consummated, the Lenders shall indemnify upon demand each Agent-Related Person (to the extent not reimbursed by or on behalf of any Loan Party and without
limiting the obligation of any Loan Party to do so), pro rata, and hold harmless each Agent-Related Person from and against any and all Indemnified Liabilities incurred by it; provided, however, that no Lender shall be liable
for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities to the extent determined in a final, nonappealable judgment by a court of competent jurisdiction to have resulted from such Agent-Related Person’s own
gross negligence or willful misconduct; provided, however, that no action taken in accordance with the directions 

  
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 of the Required Lenders shall be deemed to constitute gross negligence or willful misconduct for purposes of
this Section 9.07; provided, further, that to the extent any L/C Issuer is entitled to indemnification under this Section 9.07 solely in its capacity and role as L/C Issuer, only the Revolving Credit Lenders
shall be required to indemnify such L/C Issuer in accordance with this Section 9.07. In the case of any investigation, litigation or proceeding giving rise to any Indemnified Liabilities, this Section 9.07 applies whether any
such investigation, litigation or proceeding is brought by any Lender or any other Person. Without limitation of the foregoing, each Lender shall reimburse the Administrative Agent upon demand for its ratable share of any costs or out-of-pocket
expenses (including the fees, disbursements and other charges of counsel) incurred by the Administrative Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through
negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the extent that the Administrative
Agent is not reimbursed for such expenses by or on behalf of the Borrower. The undertaking in this Section 9.07 shall survive termination of the Aggregate Commitments, the payment of all other Obligations and the resignation of the
Administrative Agent. 
 9.08 Agents in their Individual Capacities. Any Agent and its Affiliates may make loans to,
issue letters of credit for the account of, accept deposits from, acquire Equity Interests in and generally engage in any kind of banking, trust, financial advisory, underwriting or other business with each of the Loan Parties and their respective
Affiliates as though it were not an Agent or an L/C Issuer hereunder and without notice to or consent of the Lenders. The Lenders acknowledge that, pursuant to such activities, an Agent or its Affiliates may receive information regarding any Loan
Party or its Affiliates (including information that may be subject to confidentiality obligations in favor of such Loan Party or such Affiliate) and acknowledge that such Agent shall be under no obligation to provide such information to them. With
respect to its Loans, such Agent shall have the same rights and powers under this Agreement as any other Lender and may exercise such rights and powers as though it were not an Agent or an L/C Issuer, and the terms “Lender” and
“Lenders” include such Agent in its individual capacity. 
 9.09 Successor Agents. (a) The Administrative
Agent may resign as the Administrative Agent upon thirty (30) days’ notice to the Lenders. If the Administrative Agent resigns under this Agreement, the Required Lenders shall appoint from among the Lenders a successor agent for the
Lenders, which successor agent shall be consented to by the Borrower at all times other than during the existence of an Event of Default under Section 8.01(f) (which consent of the Borrower shall not be unreasonably withheld or delayed).
If no successor agent is appointed prior to the effective date of the resignation of the Administrative Agent, the Administrative Agent may appoint, after consulting with the Lenders and the Borrower, a successor agent from among the Lenders. Upon
the acceptance of its appointment as successor agent hereunder, the Person acting as such successor agent shall succeed to all the rights, powers and duties of the retiring Administrative Agent and the term “Administrative Agent,” shall
mean such successor administrative agent and/or supplemental administrative agent, as the case may be, and the retiring Administrative Agent’s appointment, powers and duties as the Administrative Agent shall be terminated. After the retiring
Administrative Agent’s resignation hereunder as the Administrative Agent, the provisions of this Article IX and Sections 10.04 and 10.05 shall inure to its benefit as to any actions taken or omitted to be taken by it
while it was the Administrative 

  
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Agent under this Agreement. If no successor agent has accepted appointment as the Administrative Agent by the date which is thirty (30) days following the retiring Administrative
Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective and the Lenders shall perform all of the duties of the Administrative Agent hereunder until such time, if any, as
the Required Lenders appoint a successor agent as provided for above. Upon the acceptance of any appointment as the Administrative Agent hereunder by a successor and upon the execution and filing or recording of such financing statements, or
amendments thereto, and such amendments or supplements to the Mortgages, and such other instruments or notices, as may be necessary or desirable, or as the Required Lenders may request, in order to continue the perfection of the Liens granted or
purported to be granted by the Collateral Documents, the Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, discretion, privileges, and duties of the retiring Administrative Agent, and the retiring
Administrative Agent shall be discharged from its duties and obligations under the Loan Documents. After the retiring Administrative Agent’s resignation hereunder as the Administrative Agent, the provisions of this Article IX shall
continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the Administrative Agent. 
 (b) Any resignation by Bank of America as Administrative Agent pursuant to this Section 9.09 shall also constitute its resignation as an L/C Issuer and as Swing Line Lender. Upon the
acceptance of a successor’s appointment as Administrative Agent hereunder, (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer and Swing Line Lender,
(ii) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (iii) the successor L/C Issuer shall issue letters of credit in
substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such
Letters of Credit. 
 9.10 Administrative Agent May File Proofs of Claim. In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall
then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or
otherwise: 
 (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid
in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any
claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under
Sections 2.03(i) and (j), 2.09 and 10.04) allowed in such judicial proceeding; and 

  
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 (b) to collect and receive any monies or other property payable or
deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the
Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Agents and their respective agents and counsel, and any other amounts due the Administrative Agent under
Sections 2.09 and 10.04. 
 Nothing contained herein shall be deemed to authorize the Administrative Agent to
authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect
of the claim of any Lender in any such proceeding. 
 9.11 Collateral and Guaranty Matters. Each of the Lenders
(including in their capacities as potential Hedge Banks and potential Cash Management Banks) and each L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, 

(a) to release any Lien on any property granted to or held by the Administrative Agent under any Loan Document
(i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than (A) contingent indemnification obligations not yet accrued and payable) and (B) obligations and liabilities under Secured Cash
Management Agreements and Secured Hedge Agreements as to which arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank shall have been made) and the expiration or termination of all Letters of Credit (other than Letters of
Credit as to which other arrangements satisfactory to the Administrative Agent and the L/C Issuer shall have been made), (ii) that is sold or to be sold as part of or in connection with any sale permitted hereunder or under any other Loan
Document, or (iii) subject to Section 10.01, if approved, authorized or ratified in writing by the Required Lenders; 
 (b) to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by
Section 7.01(i); and 
 (c) to release any Guarantor from its obligations under the Guaranty if such
Person ceases to be a Restricted Subsidiary as a result of a transaction permitted hereunder. 
 Upon request by the Administrative Agent at any
time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this
Section 9.11. In each case as specified in this Section 9.11, the Administrative Agent will, at the Borrower’s expense, execute and deliver to the applicable Loan Party such documents as such

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

 9.13 Other Agents; Arranger and Managers. None of the Lenders or other Persons identified on the facing page or
signature pages of this Agreement as a “syndication agent,” “co-documentation agent,” “joint lead arranger,” or “bookrunner” shall have any right, power, obligation, liability, responsibility or duty under
this Agreement other than those applicable to all Lenders as such. Without limiting the foregoing, none of the Lenders or other Persons so identified shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender
acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not taking action hereunder. 

9.14 Appointment of Supplemental Administrative Agents. 
 (a) It is the purpose of this Agreement and the other Loan Documents that there shall be no violation of any Law of any jurisdiction denying or restricting the right of banking corporations or
associations to transact business as agent or trustee in such jurisdiction. It is recognized that in case of litigation under this Agreement or any of the other Loan Documents, and in particular in case of the enforcement of any of the Loan
Documents, or in case the Administrative Agent deems that by reason of any present or future Law of any jurisdiction it may not exercise any of the rights, powers or remedies granted herein or in any of the other Loan Documents or take any other
action which may be desirable or necessary in connection therewith, the Administrative Agent is hereby authorized to appoint an additional individual or institution selected by the Administrative Agent in its sole discretion as a separate trustee,
co-trustee, administrative agent, collateral agent, administrative sub-agent or administrative co-agent (any such additional individual or institution being referred to herein individually as a “Supplemental Administrative
Agent” and collectively as “Supplemental Administrative Agents”). 

  
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 (b) In the event that the Administrative Agent appoints a Supplemental Administrative Agent
with respect to any Collateral, (i) each and every right, power, privilege or duty expressed or intended by this Agreement or any of the other Loan Documents to be exercised by or vested in or conveyed to the Administrative Agent with respect
to such Collateral shall be exercisable by and vest in such Supplemental Administrative Agent to the extent, and only to the extent, necessary to enable such Supplemental Administrative Agent to exercise such rights, powers and privileges with
respect to such Collateral and to perform such duties with respect to such Collateral, and every covenant and obligation contained in the Loan Documents and necessary to the exercise or performance thereof by such Supplemental Administrative Agent
shall run to and be enforceable by either the Administrative Agent or such Supplemental Administrative Agent, and (ii) the provisions of this Article IX and of Section 9.07 (obligating the Borrower to pay the Administrative
Agent’s expenses and to indemnify the Administrative Agent) that refer to the Administrative Agent shall inure to the benefit of such Supplemental Administrative Agent and all references therein to the Administrative Agent shall be deemed to be
references to the Administrative Agent and/or such Supplemental Administrative Agent, as the context may require. 
 (c) Should
any instrument in writing from the Borrower, Holdings or any other Loan Party be required by any Supplemental Administrative Agent so appointed by the Administrative Agent for more fully and certainly vesting in and confirming to him or it such
rights, powers, privileges and duties, the Borrower or Holdings, as applicable, shall, or shall cause such Loan Party to, execute, acknowledge and deliver any and all such instruments promptly upon request by the Administrative Agent. In case any
Supplemental Administrative Agent, or a successor thereto, shall die, become incapable of acting, resign or be removed, all the rights, powers, privileges and duties of such Supplemental Administrative Agent, to the extent permitted by Law, shall
vest in and be exercised by the Administrative Agent until the appointment of a new Supplemental Administrative Agent. 
 ARTICLE
X 
 MISCELLANEOUS 
 10.01 Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Borrower or any other Loan Party therefrom, shall
be effective unless in writing signed by the Required Lenders and the Borrower or the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 

	

 (a) extend or increase the Commitment of any Lender without
the written consent of each Lender directly affected thereby (it being understood that a waiver of any condition precedent set forth in Section 4.02 or the waiver of any Event of Default, mandatory prepayment or mandatory reduction of
the Commitments shall not constitute an extension or increase of any Commitment of any Lender); 
 (b) postpone
any date scheduled for any payment of principal of, or interest on, any Loan or L/C Borrowing, or any fees or other amounts payable hereunder, without 

  
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the written consent of each Lender directly affected thereby, it being understood that the waiver of any mandatory prepayment of the Term B Loans shall not constitute a postponement of any date
scheduled for the payment of principal or interest; 
 (c) reduce the principal of, or the rate of interest
specified herein on, any Loan or L/C Borrowing, or (subject to clause (iii) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent
of each Lender directly affected thereby, it being understood that any change to the definition of Total Leverage Ratio or in the component definitions thereof shall not constitute a reduction in the rate; provided, however, that only
the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest at the Default Rate; 

(d) [reserved]; 
 (e) change (i) any provision of this Section 10.01, Section 2.06(c) or the definition of “Required Lenders”, or any other provision hereof specifying the number or
percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder (other than the definitions specified in clause (ii) of this Section 10.01(e)), without
the written consent of each Lender, or (ii) the definition of “Required Revolving Lenders,” without the written consent of each Lender under the Revolving Credit Facility; 

(f) other than in a transaction permitted under Section 7.05, release all or substantially all of the
Collateral in any transaction or series of related transactions, without the written consent of each Lender; 

(g) other than in connection with a transaction permitted under Section 7.04 or 7.05, release all or
substantially all of the value of the Guaranty, without the written consent of each Lender; 
 (h) adversely
affect the Term B Facility in a disproportionate manner without the consent of both the Required Term B Lenders and the Required Lenders, provided that any amendment or waiver which affects solely the Term B Facility and not the Extended Revolving
Credit Facility or Non-Extended Revolving Credit Facility may be effected with the consent of the Required Term B Lenders without the consent of the Extending Revolving Credit Lenders or Non-Extending Revolving Credit Lenders; 

(i) adversely affect the Extended Revolving Credit Facility in a disproportionate manner without the consent of both the
Required Extending Revolving Lenders and the Required Lenders, provided that any amendment or waiver which affects solely the Extended Revolving Credit Facility and not the Term B Facility or Non-Extended Revolving Credit Facility may be effected
with the consent of the Required Extending Revolving Lenders without the consent of the Term B Lenders or Non-Extending Revolving Credit Lenders; or 
 (j) adversely affect the Non-Extended Revolving Credit Facility in a disproportionate manner without the consent of both the Required Non-Extending

  
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Revolving Lenders and the Required Lenders, provided that any amendment or waiver which affects solely the Non-Extended Revolving Credit Facility and not the Term B Facility or Extended Revolving
Credit Facility may be effected with the consent of the Required Non-Extending Revolving Lenders without the consent of the Term B Lenders or Extending Revolving Credit Lenders. 
 and provided, further that (i) no amendment, waiver or consent shall, unless in writing and signed by an L/C Issuer in addition to the Lenders required above, affect the rights or
duties of the L/C Issuers under this Agreement or any Letter of Credit Application relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender
in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the
Lenders required above, affect the rights or duties of, or any fees or other amounts payable to, the Administrative Agent under this Agreement or any other Loan Document; and (iv) Section 10.07(g) may not be amended, waived or
otherwise modified without the consent of each Granting Lender all or any part of whose Loans are being funded by an SPC at the time of such amendment, waiver or other modification; (v) the Fee Letter may be amended, or rights or privileges
thereunder waived, in a writing executed only by the parties thereto; and (vi) a Lender may agree to extend the maturity date of its portion of the Loans under the Term B Facility upon the request of the Borrower and without the consent of any
other Lender. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the
consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended, the maturity of
any of its Loans may not be extended and the principal amount of any of its Loans may not be forgiven, in each case without the consent of such Defaulting Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders
or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender. 
 This Section 10.01 shall be subject to any contrary provision of Sections 2.14, 2.15 or 2.16. 

Notwithstanding anything to the contrary contained herein, any Loans held by a Lender who is a Permitted Investor or a Non-Debt Fund
Affiliate shall be excluded in the determination of any “Required Lender”, “Required Term B Lender” or “Required New Term Lender” votes; and no such Lender shall have any right to (i) attend (including by
telephone) any meeting or discussions (or portion thereof) among the Administrative Agent or any Lender to which representatives of the Borrower are not then present or (ii) receive any information or material prepared by the Administrative
Agent or any Lender or any communication by or among Administrative Agent and one or more Lenders, except to the extent such information or materials have been made available to the Borrower or its representatives. 

Notwithstanding anything to the contrary contained herein, in connection with any “Required Lender”, “Required Term B
Lender” or “Required New Term Lender” votes, 

  
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Lenders that are Debt Fund Affiliates shall not be permitted, in the aggregate, to account for more than 50% of the amounts includable in determining whether the “Required Lenders”,
“Required Term B Lenders” or “Required New Term Lenders” have consented to any amendment, modification, waiver, consent or other action that is subject to such vote. The voting power of each Lender that is a Debt Fund Affiliate
shall be reduced, pro rata, to the extent necessary in order to comply with the immediately preceding sentence. 
  

	 	10.02	Notices; Effectiveness; Electronic Communications. 

 (a) General. Unless otherwise expressly provide herein, all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service,
mailed by certified or registered mail or sent by telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to the Borrower, the Administrative Agent, an L/C Issuer or the Swing Line Lender, to the address, telecopier
number, electronic mail address or telephone number specified for such Person on Schedule 10.02; and 

(ii) if to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in
its Administrative Questionnaire. 
 Notices and other communications sent by hand or overnight courier service, or mailed by certified or
registered mail, shall be deemed to have been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next business day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in subsection (b) below shall be
effective as provided in such subsection (b). 
 (b) Electronic Communications. Notices and other
communications to the Lenders and the L/C Issuers hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent; provided
that the foregoing shall not apply to notices to any Lender or any L/C Issuer pursuant to Article II if such Lender or such L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving, or is unwilling to
receive, notices under such Article II by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to
procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. 
 Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from
the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided that if such notice or other communication is not sent during the normal business
hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the 

  
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next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient
at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor. 

(c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO
NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,
INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT-RELATED PERSON IN CONNECTION WITH THE BORROWER MATERIALS OR THE
PLATFORM. In no event shall any Agent-Related Person have any liability to Holdings, the Borrower, any Lender, any L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or
otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of
competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent-Related Person; provided, however, that in no event shall any Agent-Related Person have any
liability to Holdings, the Borrower, any Lender, any L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 

(d) Change of Address, Etc. Each of Holdings, the Borrower, the Administrative Agent, each L/C Issuer and the Swing Line Lender
may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and other
communications hereunder by notice to the Borrower, the Administrative Agent, each L/C Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has
on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each
Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to
enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state securities Laws, to make reference to Borrower Materials that are not made
available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States Federal or state securities laws.

 (e) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuers and the
Lenders shall be entitled to rely and act upon any 

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

10.03 No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender, any L/C Issuer or the Administrative Agent to
exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are
cumulative and not exclusive of any rights, remedies, powers and privileges provided by Law. 
 Notwithstanding anything to the
contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and
proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuers; provided,
however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the
other Loan Documents, (b) each L/C Issuer or the Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as an L/C Issuer or Swing Line Lender, as the case may be) hereunder and under the
other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 10.09 (subject to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing and filing
pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan
Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of
the preceding proviso and subject to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders 

10.04 Expenses and Taxes. The Borrower agrees (a) to pay or reimburse the Administrative Agent for all reasonable costs and
expenses incurred in connection with the preparation, negotiation, syndication and execution of this Agreement and the other Loan Documents, and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or
not the transactions contemplated thereby are consummated), and the consummation and administration of the transactions contemplated hereby and thereby, 

  
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including the reasonable fees, disbursements and other charges of counsel (limited to the reasonable fees, disbursements and other charges of one counsel to the Administrative Agent and, if
necessary, of one local counsel in each relevant jurisdiction and of special counsel), and (b) to pay or reimburse the Administrative Agent and each Lender for all out-of-pocket costs and expenses incurred in connection with the enforcement of
any rights or remedies under this Agreement or the other Loan Documents (including all such costs and expenses incurred during any legal proceeding, including any proceeding under any Debtor Relief Law or in connection with any workout or
restructuring), including the fees, disbursements and other charges of counsel (limited to the fees, disbursements and other charges of one counsel to the Administrative Agent and the Lenders taken as a whole, and, if necessary, of one local counsel
in each relevant jurisdiction and of special counsel and, in the event of any actual or potential conflict of interest, one additional counsel for each Lender subject to such conflict), in each case without duplication for any amounts paid (or
indemnified) under Section 3.01. The foregoing costs and expenses shall include all search, filing, recording, title insurance and appraisal charges and fees and taxes related thereto, and other out-of-pocket expenses incurred by any
Agent. All amounts due under this Section 10.04 shall be paid within twenty (20) Business Days after invoiced or demand therefor. The agreements in this Section 10.04 shall survive the termination of the Aggregate
Commitments and repayment of all other Obligations. If any Loan Party fails to pay when due any costs, expenses or other amounts payable by it hereunder or under any Loan Document, such amount may be paid on behalf of such Loan Party by the
Administrative Agent or any Lender, in its sole discretion. 
 10.05 Indemnification by the Borrower. Whether or not the
transactions contemplated hereby are consummated, the Borrower shall indemnify and hold harmless each Arranger, each Agent-Related Person, each Lender, each L/C Issuer and their respective Affiliates, partners, directors, officers, employees,
counsel, agents and, in the case of any funds, trustees and advisors and attorneys-in-fact (collectively the “Indemnitees”) from and against (and will reimburse each Indemnitee as the same are incurred for) any and all
liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs (including settlement costs), expenses and disbursements (including the fees, disbursements and other charges of (i) one counsel to the
Indemnitees taken as a whole, (ii) in the case of any conflict of interest, additional counsel to the affected Lender or group of Lenders, limited to one such additional counsel so long as representation of each such party by a single counsel
is consistent with and permitted by professional responsibility rules, and (iii) if necessary, one local counsel in each relevant jurisdiction and special counsel) of any kind or nature whatsoever which may at any time be imposed on, incurred
by or asserted or awarded against any such Indemnitee in any way relating to or arising out of or in connection with or by reason of (a) the execution, delivery, enforcement, performance or administration of any Loan Document or any other
agreement, letter or instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions contemplated thereby, (b) any Commitment, Loan or Letter of Credit or the use or proposed use of the
proceeds therefrom (including any refusal by any L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit),
(c) any actual or alleged presence or release of Hazardous Materials on or from any property currently or formerly owned or operated by the Borrower, any Subsidiary or any other Loan Party, or any Environmental Liability related in any way to
the Borrower, any Subsidiary or any other Loan Party, or (d) any actual or prospective claim, litigation, 

  
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investigation or proceeding in any way relating to, arising out of, in connection with or by reason of any of the foregoing, whether based on contract, tort or any other theory (including any
investigation of, preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding) and regardless of whether any Indemnitee is a party thereto (all the foregoing, collectively, the “Indemnified
Liabilities”), in all cases, whether or not caused by or arising, in whole or in part, out of the negligence of the Indemnitee; provided, that such indemnity shall not, as to any Indemnitee, be available to the extent that such
liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses or disbursements are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the bad
faith, gross negligence or willful misconduct of such Indemnitee or material breach of its express obligations under the Loan Documents by such Indemnitee. No Indemnitee shall be liable for any damages arising from the use by others of any
information or other materials obtained through IntraLinks or other information transmission systems (including electronic telecommunications) in connection with this Agreement, nor shall any Indemnitee or any Loan Party have any liability for any
special, punitive, indirect or consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or therewith (whether before or after the Closing Date). In the case of an
investigation, litigation or other proceeding to which the indemnity in this Section 10.05 applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by any Loan Party, its
directors, shareholders or creditors or an Indemnitee or any other Person, whether or not any Indemnitee is otherwise a party thereto and whether or not any of the transactions contemplated hereunder or under any of the other Loan Documents is
consummated. Should any investigation, litigation or proceeding be settled with the consent of the Borrower, or if there is a judgment against an Indemnitee in any such investigation, litigation or proceeding, the Borrower shall indemnify and hold
harmless each Indemnitee in the manner set forth above. All amounts due under this Section 10.05 shall be payable within twenty (20) Business Days after demand therefor. The agreements in this Section 10.05 shall survive
the resignation of the Administrative Agent, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. For the avoidance of doubt, any indemnification
relating to Impositions, other than Impositions arising from a non-Imposition claim, shall be covered by Section 3.01 and shall not be covered by this Section 10.05. 

10.06 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to any Agent, to any L/C Issuer
or any Lender, or any Agent, any L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or
required (including pursuant to any settlement entered into by such Agent, such L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or
otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred,
and (b) each Lender and each L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by any Agent, plus interest thereon from the date of
such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect. 

  
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The obligations of the Lenders and the L/C Issuers under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this
Agreement. 
 10.07 Successors and Assigns. 
 (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not
assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except
(i) to an Eligible Assignee in accordance with the provisions of Section 10.07(b), (ii) by way of participation in accordance with the provisions of Section 10.07(d), (iii) by way of pledge or assignment of a
security interest subject to the restrictions of Section 10.07(f) or (iv) to an SPC in accordance with the provisions of Section 10.07(g) (and any other attempted assignment or transfer by any party hereto shall be null
and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in
Section 10.07(d) and, to the extent expressly contemplated hereby, the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitment(s) and the Loans (including for purposes of this Section 10.07(b), participations in L/C Obligations and in Swing Line Loans) at the time owing to it); provided, that (i) except
(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment under any Facility and the Loans at the time owing to it under such Facility or in the case of an assignment to a Lender or an Affiliate
of a Lender or an Approved Fund with respect to a Lender, no minimum amount shall need be assigned, and (B) in any case not described in clause (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this
purpose includes Loans outstanding thereunder) or, if the applicable Commitment is not then in effect, the outstanding principal balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment
and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $2,500,000, in the case of any
assignment in respect of the Revolving Credit Facility, or $1,000,000, in the case of any assignment in respect of the Term B Facility, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the
Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed) provided, however, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a
single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has been met; (ii) each partial assignment shall be made as
an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not (x) apply to the Swing
Line Lender’s rights and obligations in respect of Swing Line Loans or (y) prohibit any Lender from assigning all or a portion of its rights and obligations among separate Facilities on a non-pro rata basis; (iii) no consent
shall be required 

  
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 for any assignment except to the extent required by subsection (b)(i)(B) of this Section and, in
addition (A) the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment, (2) such assignment is
an assignment of a Term B Loan that occurs prior to the completion of a “Successful Syndication” (as defined in the Fee Letter) or (3) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund, provided that the
Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof; (B) the consent of the
Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required; and (C) the consent of each L/C Issuer and the Swing Line Lender (each such consent not to be unreasonably withheld or delayed) shall be required
for any assignment in respect of the Revolving Credit Facility; (iv) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500
(except, (x) in the case of contemporaneous assignments by any Lender to one or more Approved Funds, only a single processing and recording fee shall be payable for such assignments and (y) the Administrative Agent, in its sole discretion,
may elect to waive such processing and recording fee in the case of any assignment); (v) no such assignment shall be made to (A) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder,
would constitute any of the foregoing Persons described in this clause (A) or (B) a natural person; (vi) no Revolving Credit Commitments or Revolving Credit Loans may be assigned to any Affiliate Lender; (vii) the assigning
Lender shall deliver any Notes evidencing such Loans to the Borrower or the Administrative Agent; (viii) in connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate
(which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans
previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the
Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Pro
Rata Share; provided that notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this
paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs; and (ix) any assignment of Non-Extended Revolving Credit Commitments and Non-Extended
Revolving Credit Loans may, at the election of the assignee of such Non-Extended Revolving Credit Commitments and Non-Extended Revolving Credit Loans and in the sole and absolute discretion of such assignee, be treated as a conversion of the
assigned Non-Extended Revolving Credit Commitments and Non-Extended Revolving Credit Loans into Extended Revolving Credit Commitments and Extended Revolving Credit Loans, respectively (whereupon such assignee shall be treated as an Extending
Revolving Credit Lender and the assigned Commitments and Loans shall be treated as Extended Revolving Credit 

  
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 Commitments and the Extended Revolving Credit Loans, respectively, for all purposes of this Agreement).
Subject to acceptance and recording thereof by the Administrative Agent pursuant to Section 10.07(c), from and after the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to
this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such
Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be
a party hereto but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, 10.04 and 10.05 with respect to facts and circumstances occurring prior to the effective date of such assignment).
Upon request, and the surrender by the assigning Lender of its Note, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that
does not comply with this clause (b) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.07(d). 

(c) The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency being solely for tax purposes),
shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and
related interest amounts) of the Loans, L/C Obligations (specifying the Unreimbursed Amounts), L/C Borrowings and amounts due under Section 2.03, owing to, each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive, absent manifest error, and the Borrower, the Agents and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as
a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender
as Defaulting Lender. The Register shall be available for inspection by the Borrower, any Agent and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(d) Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to
any Person (other than a natural person or a Defaulting Lender) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment
and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swing Line Loans) owing to it); provided, that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender
shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Agents and the other Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided, that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other
modification described in the first proviso to Section 10.01 that directly affects such Participant. Subject to 

  
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 Section 10.07(e), the Borrower agrees that each Participant shall be entitled to the benefits of
Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 10.07(b). To the extent permitted by law, each Participant also shall be
entitled to the benefits of Section 10.09 as though it were a Lender, provided, such Participant agrees to be subject to Section 2.13 as though it were a Lender. 

(e) A Participant shall not be entitled to receive any greater payment under Section 3.01, 3.04 or 3.05 than
the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant
shall not be entitled to the benefits of Section 3.01 and Section 3.04 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with
obligations, restrictions and limitations under such Sections and Section 10.15 as though it were a Lender. 
 (f)
Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure
obligations to a Federal Reserve Bank or any central bank having jurisdiction over such Lender; provided, that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or
assignee for such Lender as a party hereto. 
 (g) Notwithstanding anything to the contrary contained herein, any Lender (a
“Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower (an “SPC”) the
option to provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; provided, that (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, and
(ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof or, if it fails to do so, to make such payment to
the Administrative Agent as is required under Section 2.12(b)(ii). Each party hereto hereby agrees that an SPC shall be entitled to the benefits of Section 3.01, 3.04 and 3.05 (subject to the requirements and
the limitations of such Sections and the obligations to provide the forms and certifications pursuant to Section 10.15 as if it were a Lender); provided, that neither the grant to any SPC nor the exercise by any SPC of such option shall
increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this Agreement (including its obligations under Section 3.01, 3.04 or 3.05). Each party hereto further agrees that
(i) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a Lender would be liable, and (ii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or
other modification of any provision of any Loan Document, remain the lender of record hereunder. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such
Granting Lender. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding
commercial paper or other senior debt of any SPC, it will not, other than in respect of matters unrelated to this Agreement or the transactions contemplated hereby, institute against, or join any

  
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 other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency, or
liquidation proceeding under the laws of the United States or any State thereof. Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without prior consent of the Borrower and the Administrative Agent
and with the payment of a processing fee of $3,500, assign all or any portion of its rights hereunder with respect to any Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding
of Loans to any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC. 
 (h) Notwithstanding anything to the contrary contained herein, any Lender that is a Fund may create a security interest in all or any portion of the Loans owing to it and the Note, if any, held by it to
the trustee for holders of obligations owed, or securities issued, by such Fund as security for such obligations or securities; provided, that unless and until such trustee actually becomes a Lender in compliance with the other provisions of
this Section 10.07, (i) no such pledge shall release the pledging Lender from any of its obligations under the Loan Documents, and (ii) such trustee shall not be entitled to exercise any of the rights of a Lender under the Loan
Documents even though such trustee may have acquired ownership rights with respect to the pledged interest through foreclosure or otherwise. 
 (i) Notwithstanding anything to the contrary contained herein, any Lender may assign all or any portion of its Term B Loans or New Term Loans hereunder to a Permitted Investor or any Non-Debt Fund
Affiliate, but only if: 
 (i) such assignment is made pursuant to an open market purchase; 

(ii) no Default has occurred or is continuing or would result therefrom; 

(iii) the assigning Lender and Affiliate Lender purchasing such Lender’s Loans, as applicable, shall execute and
deliver to the Administrative Agent an assignment agreement substantially in the form of Exhibit E-2 hereto (an “Affiliate Lender Assignment and Assumption”) in lieu of an Assignment and Assumption; 

(iv) after giving effect to such assignment, the Permitted Investors and any Non-Debt Fund Affiliates shall not, in the
aggregate, own or hold Term B Loans or New Term Loans with an aggregate principal amount in excess of 10% of the principal amount of all Loans then outstanding; and 

(v) such Permitted Investor or Non-Debt Fund Affiliate shall at the time of such assignment affirm the No Undisclosed
Information Representation and shall at all times thereafter be subject to the restrictions specified in the second last paragraph of Section 10.01. 
 (j) Notwithstanding anything to the contrary contained herein, any Lender may assign all or any portion of its Term B Loans or New Term Loans hereunder to Holdings or any of its Subsidiaries, but only if:

  
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 (i) such assignment is made pursuant to a Dutch Auction open to all
applicable Lenders on a pro rata basis; 
 (ii) no Default has occurred or is continuing or would result
therefrom 
 (iii) Holdings or its Subsidiary, as applicable, shall at the time of such assignment affirm the No
Undisclosed Information Representation; 
 (iv) any such Loans shall be automatically and permanently cancelled
immediately upon acquisition thereof by Holdings or any of its Subsidiaries; 
 (v) Holdings and its Subsidiaries
do not use the proceeds of the Revolving Credit Facility (whether or not the Revolving Credit Facility has been increased pursuant to Section 2.14) to acquire such Loans; and 

(vi) at the time of (and calculated on a pro forma basis after giving effect to) any such assignment, the outstanding
Revolving Credit Loans shall not exceed unrestricted cash and Cash Equivalents on hand of Holdings and its Subsidiaries by more than $10,000,000. 
 (k) Notwithstanding anything to the contrary contained herein, any Lender may assign all or any portion of its Term B Loans or New Term Loans hereunder to any Debt Fund Affiliate, but only if: 

(i) such assignment is made pursuant to an open market purchase; and 

(ii) such Debt Fund Affiliate shall at all times after such assignment be subject to the restrictions specified in the
final paragraph of Section 10.01. 
 (l) Notwithstanding anything to the contrary contained herein, none of the
restrictions set forth in Section 10.07(i) through (k) or in the final two paragraphs of Section 10.01 shall apply to any of (A) Goldman Sachs Credit Partners L.P., (B) Goldman Sachs Lending Partners
LLC, or (C) Goldman Sachs Asset Management, L.P., Goldman Sachs Investment Strategies, LLC, or any investment fund or separate account managed by either of them. 
 (m) Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Commitments and Loans pursuant to Section 10.07(b), Bank of America may,
(i) upon thirty (30) days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon thirty (30) days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such resignation as L/C
Issuer or Swing Line Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall
affect the resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights and obligations of an L/C Issuer hereunder with respect to all Letters of
Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed

  
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Amounts pursuant to Section 2.03(c)). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to
Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to
Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (A) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or
Swing Line Lender, as the case may be, and (B) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank
of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit. 
 (n) The
applicable Lender, acting solely for this purpose as an agent of the Borrower, shall maintain a register on which it enters the name and address of (i) each SPC (other than any SPC that is treated as a disregarded entity of the Granting Lender
for U.S. federal income tax purposes) that has exercised its option pursuant to Section 10.07(g) and (ii) each Participant, and the amount of each such SPC’s and Participant’s interest in such Lender’s rights and/or
obligations under this Agreement (the “Participant Register”). The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the
Participant Register as the owner of the applicable rights and/or obligations of such Lender under this Agreement. 
 10.08
Confidentiality. Each of the Agents and the Lenders agrees to maintain the confidentiality of the Information, except that Information may be disclosed (a) to its directors, officers, employees and agents, including accountants, legal
counsel and other advisors, and other Affiliates (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential in accordance
with customary practices); (b) to the extent requested by any regulatory authority having jurisdiction over such Agent, Lender or its respective Affiliates or in connection with any pledge or assignment permitted under
Section 10.07(f); (c) in any legal, judicial, administrative proceeding or other compulsory process or otherwise as required by applicable Laws or regulations or by any subpoena or similar legal process; (d) to any other party
to this Agreement; (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or
thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section 10.08 (or as may otherwise be reasonably acceptable to the Borrower), to any Eligible Assignee of or Participant in, or
any prospective Eligible Assignee of or Participant in, any of its rights or obligations under this Agreement; (g) with the consent of the Borrower; (h) to the extent such Information becomes publicly available other than as a result
of a breach of this Section 10.08; (i) to any state, Federal or foreign authority or examiner (including the National Association of Insurance Commissioners or any other similar organization) regulating any Lender; or (j) to
any rating agency when required by it (it being understood that, prior to any such disclosure, such rating agency shall undertake to preserve the confidentiality of any Information relating to the Loan Parties received by it from such Lender). In
addition, the Agents and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service providers to the lending industry, and service providers to the Agents and the

  
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Lenders in connection with the administration and management of this Agreement, the other Loan Documents, the Commitments, and the Credit Extensions. For the purposes of this
Section 10.08, “Information” means all information received from any Loan Party or any Subsidiary thereof relating to any Loan Party or any Subsidiary thereof relating to any Loan Party or its business, other than
any such information that is publicly available to any Agent or any Lender prior to disclosure by any Loan Party other than as a result of a breach of this Section 10.08; provided, that, in the case of information received from a
Loan Party after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section 10.08 shall be considered to
have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

Each of the Administrative Agent, the Lenders and each L/C Issuer acknowledges that (i) the Information may include material
non-public information concerning the Borrower, Holdings or a Subsidiary of either, as the case may be, (ii) it has developed compliance procedures regarding the use of material non-public information and (iii) it will handle such material
non-public information in accordance with applicable Law, including United States Federal and state securities Laws. 
 10.09
Setoff. In addition to any rights and remedies of the Lenders provided by Law, upon the occurrence and during the continuance of any Event of Default, each Lender is authorized at any time and from time to time, without prior notice to the
Borrower or any other Loan Party, any such notice being waived by the Borrower (on its own behalf and on behalf of each Loan Party) to the fullest extent permitted by Law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such Lender to or for the credit or the account of the respective Loan Parties against any and all Obligations owing to such Lender hereunder or under
any other Loan Document, now or hereafter existing, irrespective of whether or not such Agent or such Lender shall have made demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or
denominated in a currency different from that of the applicable deposit or Indebtedness; provided, that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over
immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.18 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for
the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it
exercised such right of setoff. Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such set-off and application made by such Lender; provided, however, that the failure to give such notice shall
not affect the validity of such setoff and application. The rights of the Administrative Agent and each Lender under this Section 10.09 are in addition to other rights and remedies (including, without limitation, other rights of setoff)
that the Administrative Agent and such Lender may have. Notwithstanding anything herein or in any other Loan Document to the contrary, in no event shall the assets of any Foreign Subsidiary constitute security, or shall the proceeds of such assets
be available for, payment of the Obligations of the Borrower or any Domestic Subsidiary, it being understood that 

  
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(a) the Equity Interests of any Foreign Subsidiary that is directly owned by a Domestic Subsidiary does not constitute such an asset (and may be pledged to the extent set forth in
Section 6.12) and (b) the provisions hereof shall not limit, reduce or otherwise diminish in any respect the Borrower’s obligations to make any mandatory prepayment pursuant to Section 2.05(b)(ii). 

10.10 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or
agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If any Agent or any Lender shall receive interest in an amount that
exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by an Agent or a
Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the
effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

10.11 Counterparts. This Agreement and each other Loan Document may be executed in one or more counterparts (and by different
parties hereto in different counterparts), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier or other electronic transmission of an executed counterpart of a
signature page to this Agreement and each other Loan Document shall be effective as delivery of an original executed counterpart of this Agreement and such other Loan Document. The Agents may also require that any such documents and signatures
delivered by telecopier or other electronic transmission be confirmed by a manually-signed original thereof; provided, that the failure to request or deliver the same shall not limit the effectiveness of any document or signature delivered by
telecopier or other electronic transmission. 
 10.12 Integration; Effectiveness. This Agreement and the other Loan
Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof (including, without limitation,
the Existing Credit Agreement). In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions of this Agreement shall control; provided, that the inclusion of supplemental rights or
remedies in favor of the Agents or the Lenders in any other Loan Document shall not be deemed a conflict with this Agreement. Each Loan Document was drafted with the joint participation of the respective parties thereto and shall be construed
neither against nor in favor of any party, but rather in accordance with the fair meaning thereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and
when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. 
 10.13 Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document or other document delivered

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

10.14 Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or
unenforceable, the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 10.14, if and to the extent that the enforceability of any provisions in this Agreement relating to
Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the L/C Issuer or the Swing Line Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent not
so limited 
 10.15 Tax Forms. 
 (a) (i) Each Lender and Agent that is not a “United States person” within the meaning of Section 7701(a)(30) of the Code (each, a “Foreign Lender”) shall deliver to
the Borrower and the Administrative Agent, prior to receipt of any payment subject to withholding under the Code (or upon accepting an assignment of an interest herein), (x) two duly signed, properly completed, original copies of either IRS
Form W-8BEN or any successor thereto (relating to such Foreign Lender and entitling it to an exemption from, or reduction of, United States withholding tax on all payments to be made to such Foreign Lender by the Borrower or any other Loan Party
pursuant to this Agreement or any other Loan Document) or IRS Form W-8ECI or any successor thereto (relating to all payments to be made to such Foreign Lender by the Borrower or any other Loan Party pursuant to this Agreement or any other Loan
Document) or (y) two duly signed, properly completed, original copies of IRS Form W-8BEN or any successor thereto and a certificate that establishes in writing to the Borrower and the Administrative Agent that such Foreign Lender is not
(i) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (ii) a 10-percent shareholder within the meaning of Section 871(h)(3)(B) of the Code, and (iii) a controlled foreign corporation related to the
Borrower with the meaning of Section 864(d) of the Code. On the Effective Date and from time to time thereafter, each such Foreign Lender shall (A) promptly submit to the Borrower and the Administrative Agent such additional duly completed
and signed original copies of one or more of such forms and/or certificates (or such successor forms or certificates as shall be adopted from time to time by the relevant United States taxing authorities or such other evidence as is satisfactory to
the Borrower and the Administrative Agent (in either case, in its sole discretion)) as may then be available under then current United States laws and regulations to avoid or reduce, United States withholding taxes in respect of all payments to be
made to such Foreign Lender by the Borrower or other Loan Party pursuant to this Agreement, or any other Loan Document, in each case, (1) on or before the date that any such form, certificate or other evidence expires or becomes obsolete,
(2) after the occurrence of any event requiring a change in the most recent form, certificate or other evidence 

  
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previously delivered by it to the Borrower and the Administrative Agent (including, for the avoidance of doubt, due to a designation of a new Lending Office) and (3) from time to time
thereafter if reasonably requested by the Borrower or the Administrative Agent, and (B) promptly notify the Borrower and the Administrative Agent of any change in circumstances which would modify or render invalid any claimed exemption or
reduction. 
 (ii) Each Foreign Lender, to the extent it does not act or ceases to act for its own account with
respect to any portion of any sums paid or payable to such Foreign Lender under any of the Loan Documents (for example, in the case of a typical participation by such Foreign Lender), shall deliver to the Borrower and the Administrative Agent on the
date when such Foreign Lender ceases to act for its own account with respect to any portion of any such sums paid or payable, and at such other times as prescribed by the last sentence of Section 10.15(a)(i) or as may be necessary in the
determination of the Borrower or the Administrative Agent (in either case, in the reasonable exercise of its discretion), (A) two duly signed, properly completed, original copies of the forms or statements required to be provided by such
Foreign Lender as set forth above, to establish the portion of any such sums paid or payable with respect to which such Foreign Lender acts for its own account that is not subject to United States withholding tax, and (B) two duly signed,
properly completed, original copies of IRS Form W-8IMY (or any successor thereto), together with any information such Foreign Lender chooses to transmit with such form, and any other certificate or statement of exemption required under the Code, to
establish that such Foreign Lender is not acting for its own account with respect to a portion of any such sums payable to such Foreign Lender. 
 (iii) The Borrower shall not be required to pay any additional amount or any indemnity payment under Section 3.01 to (A) any Foreign Lender with respect to any Taxes required to be
deducted or withheld on the basis of the information, certificates or statements of exemption such Lender transmits with an IRS Form W-8IMY pursuant to this Section 10.15(a), (B) any Foreign Lender if such Foreign Lender shall have
failed to satisfy the foregoing provisions of this Section 10.15(a), or (C) any U.S. Lender if such U.S. Lender shall have failed to satisfy the provisions of Section 10.15(b); provided, that if such Lender shall
have satisfied the requirement of this Section 10.15(a) or Section 10.15(b), as applicable, on the date such Lender became a Lender (including, for the avoidance of doubt, as a result of an assignment) or ceased to act for
its own account with respect to any payment under any of the Loan Documents, nothing in this Section 10.15(a) or Section 10.15(b) shall relieve the Borrower of its obligation to pay any amounts pursuant to
Section 3.01 in the event that, as a result of any change in any applicable Law, treaty or governmental rule, regulation or order, or any change in the interpretation, administration or application thereof, such Lender is no longer
properly entitled to deliver forms, or certificates at a subsequent date establishing the fact that such Lender or other Person for the account of which such Lender receives any sums payable under any of the Loan Documents is not subject to
withholding or is subject to withholding at a reduced rate (but not including (A) any change to the extent that such change does not result in additional withholding being imposed but results in withholding being performed by a different
withholding agent, and (B) in the case of any Foreign Lender providing an IRS Form W-8IMY, any change that would result in no additional 

  
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withholding if the Person or Persons with respect to which such Foreign Lender acted as an intermediary in providing the Form W-8IMY provided directly to the Borrower or the Administrative Agent
IRS Forms W-8BEN, W-8IMY or W-8ECI (or successor forms), together with any other applicable documentation, certifying such Person’s or Persons’ entitlement to a complete exemption from or a reduction in United States withholding tax).

 (iv) The Administrative Agent may deduct and withhold any taxes required by any Laws to be deducted and
withheld from any payment under any of the Loan Documents. 
 (b) Each Lender and Agent that is a “United States
person” within the meaning of Section 7701(a)(30) of the Code (each, a “U.S. Lender”) shall deliver to the Administrative Agent and the Borrower two duly signed, properly completed, original copies of IRS Form W-9
on or prior to the Effective Date (or on or prior to the date it becomes a party to this Agreement, including, for the avoidance of doubt, by means of an assignment), certifying that such U.S. Lender is entitled to an exemption from United States
backup withholding, or any successor form. If such U.S. Lender fails to deliver such forms, then the Administrative Agent and/or the Borrower may withhold from any payment to such U.S. Lender an amount equivalent to the applicable backup withholding
imposed by the Code. 
 (c) In addition, each Lender and Agent shall deliver to the Administrative Agent and the Borrower such
other tax forms or other documents as shall be prescribed by applicable law to demonstrate, where applicable, that payments under this Agreement and the other Loan Documents to such Lender or Agent are exempt from application of the United States
federal withholding taxes imposed pursuant to FATCA. 
 (d) If any Governmental Authority asserts that the Borrower or the
Administrative Agent did not properly withhold or backup withhold, as the case may be, any tax or other amount from payments made to or for the account of any Foreign Lender or U.S. Lender (other than Impositions for which the Borrower is
responsible under Section 3.01), such Foreign Lender or U.S. Lender shall indemnify the Borrower and the Administrative Agent therefor. The obligation of the Foreign Lenders or U.S. Lenders, severally, under this
Section 10.15 shall survive the termination of the Aggregate Commitments, repayment of all other Obligations hereunder and the resignation of the Administrative Agent. 

Notwithstanding any other provision of this Section 10.15, a Lender shall not be required to deliver any form that such Lender is
not legally able to deliver. 
 10.16 Governing Law; Jurisdiction; Etc. 

(a) GOVERNING LAW. THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF NEW YORK. 
 (b) SUBMISSION TO JURISDICTION. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR
ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF 

  
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NEW YORK SITTING IN NEW YORK CITY AND OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND
DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN
OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR ANY L/C ISSUER MAY OTHERWISE HAVE TO
BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

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

(d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN
SECTION 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 
 10.17 WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY LOAN
DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND
WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 10.17 WITH ANY COURT AS WRITTEN EVIDENCE OF THE 

  
 179

 
CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
 10.18 Binding Effect. This Agreement shall become effective when it shall have been executed by the Borrower and the Administrative Agent shall have been notified by each Lender, Swing Line Lender
and L/C Issuer that each such Lender, Swing Line Lender and L/C Issuer has executed it and thereafter shall be binding upon and inure to the benefit of the Borrower, each Agent and each Lender and their respective successors and assigns, except that
the Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of the Lenders except as permitted by Section 7.04. 

10.19 No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including
in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each of the Borrower and Holdings acknowledges and agrees, and acknowledges and agrees that it has informed its other Affiliates, that:
(i) (A) no fiduciary, advisory or agency relationship between any of the Borrower, Holdings and their respective Subsidiaries and any Agent or any Arranger is intended to be or has been created in respect of any of the transactions
contemplated hereby and by the other Loan Documents, irrespective of whether any Agent or any Arranger has advised or is advising any of the Borrower, Holdings and their respective Subsidiaries on other matters, (B) the arranging and other
services regarding this Agreement provided by the Agents and the Arrangers are arm’s-length commercial transactions between the Borrower, Holdings and their respective Subsidiaries, on the one hand, and the Agents and the Arrangers, on the
other hand, (C) each of the Borrower and Holdings has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (D) each of the Borrower and Holdings is capable of evaluating, and
understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Agents and the Arrangers each is and has been acting solely as a principal and, except as may
otherwise be expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower, Holdings or any of their respective Affiliates, or any other Person and
(B) neither any Agent nor any Arranger has any obligation to the Borrower, Holdings or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other
Loan Documents; and (iii) the Agents and the Arrangers and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower, Holdings and their respective Affiliates, and
neither any Agent nor any Arranger has any obligation to disclose any of such interests and transactions to the Borrower, Holdings or any of their respective Affiliates. To the fullest extent permitted by law, each of the Borrower and Holdings
hereby waives and releases any claims that it may have against the Agents and the Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

10.20 Affiliate Activities. Each of the Borrower and Holdings acknowledge that each Agent and each Arranger (and their respective
Affiliates) is a full service securities firm engaged, either directly or through affiliates, in various activities, including securities trading, investment banking and financial advisory, investment management, principal investment, hedging,
financing and brokerage activities and financial planning and benefits counseling for 

  
 180

 
both companies and individuals. In the ordinary course of these activities, it may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative
securities) and/or financial instruments (including bank loans) for its own account and for the accounts of its customers and may at any time hold long and short positions in such securities and/or instruments. Such investment and other activities
may involve securities and instruments of the Borrower, Holdings and their respective affiliates, as well as of other entities and persons and their Affiliates which may (i) be involved in transactions arising from or relating to the engagement
contemplated hereby and by the other Loan documents (ii) be customers or competitors of the Borrower, Holdings and their respective Affiliates, or (iii) have other relationships with the Borrower, Holdings and their respective Affiliates.
In addition, it may provide investment banking, underwriting and financial advisory services to such other entities and persons. It may also co-invest with, make direct investments in, and invest or co-invest client monies in or with funds or other
investment vehicles managed by other parties, and such funds or other investment vehicles may trade or make investments in securities of the Borrower, Holdings and their respective Affiliates or such other entities. The transactions contemplated
hereby and by the other Loan Documents may have a direct or indirect impact on the investments, securities or instruments referred to in this paragraph. 
 10.21 Electronic Execution of Assignments and Certain Other Documents. The words “execution,” “signed,” “signature,” and words of like import in any Assignment and
Assumption or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 
 10.22 USA PATRIOT ACT. Each Lender that is subject to the PATRIOT Act (as hereinafter defined) and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower
that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “PATRIOT Act”), it is required to obtain, verify and record information that identifies each
Loan Party, which information includes the name and address of each Loan Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify each Loan Party in accordance with the PATRIOT Act. The Borrower
shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable
“know your customer” an anti-money laundering rules and regulations, including the PATRIOT Act. 
 10.23 Amendment
and Restatement. It is the intent of the parties hereto that this Agreement not constitute a novation of the obligations and liabilities existing under the Existing Credit Agreement or evidence repayment of any such obligations and liabilities
and that this Agreement amends and restates in its entirety the Existing Credit Agreement and re-evidences the obligations of the Borrowers and the other Loan Parties outstanding thereunder. 

  
 181

 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
 182

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

					
	MICHAEL FOODS GROUP, INC.
		
	By:	 	/s/ Mark W. Westphal
		 	Name:	 	Mark W. Westphal
		 	Title:	 	Chief Financial Officer and Senior Vice President

  

					
	MFI MIDCO CORPORATION
		
	By:	 	/s/ Mark W. Westphal
		 	Name:	 	Mark W. Westphal
		 	Title:	 	Chief Financial Officer and Senior Vice President

  

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

		
	By:	 	/s/ Robert A. Klawinski
		 	Name:	 	Robert A. Klawinski
		 	Title:	 	Managing Director

  

					
	 BANK OF AMERICA, N.A.,
 as a Lender, L/C Issuer and Swing Line Lender

		
	By:	 	/s/ Robert A. Klawinski
		 	Name:	 	Robert A. Klawinski
		 	Title:	 	Managing Director

  

  

					
	
	[                    ], as a Lender
		
	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

 EXHIBIT A 
 FORM OF COMMITTED LOAN NOTICE 
 Date:
             ,          
  

	To:	Bank of America, N.A., as Administrative Agent 

Ladies and Gentlemen: 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of February 25, 2011 (as may otherwise be amended,
restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time in accordance with its terms, the “Agreement;” the terms defined therein being used herein as therein defined), among
Michael Foods Group, Inc. (f/k/a M-Foods Holdings, Inc.), a Delaware corporation, MFI Midco Corporation, a Delaware corporation, the Lenders from time to time party thereto, Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C
Issuer and the other parties named therein. 
 The undersigned hereby requests (select one): 

 ̈   A Borrowing of Loans         ̈ A conversion or continuation of Loans 
 1.   On
                                         
                (a Business Day). 

2.   In the amount of $
                    . 
 3.   Comprised of
                                         
               . 
 [Type of Loan requested]

 4.   For Eurodollar Rate Loans: with an Interest Period of
             months. 
 The Borrowing requested herein
complies with the proviso to the first sentence of Section 2.01(c) of the Agreement. 
  

			
	MICHAEL FOODS GROUP, INC.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 Form of Committed Loan
Notice 

 EXHIBIT B 
 FORM OF SWING LINE LOAN NOTICE 
 Date:
             ,          
  

	To:	Bank of America, N.A., as Swing Line Lender 

 Bank of America, N.A., as Administrative Agent 
 Ladies and Gentlemen: 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of February 25, 2011 (as may otherwise be amended,
restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time in accordance with its terms, the “Agreement;” the terms defined therein being used herein as therein defined), among
Michael Foods Group, Inc. (f/k/a M-Foods Holdings, Inc.), a Delaware corporation, MFI Midco Corporation, a Delaware corporation, the Lenders from time to time party thereto, Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C
Issuer, and the other parties named therein. 
 The undersigned hereby requests a Swing Line Loan: 

1.   On
                                         
            (a Business Day). 
 2.   In the amount of $
                                . 

The Swing Line Borrowing requested herein complies with the requirements of the provisos to the first sentence of
Section 2.04(a) of the Agreement. 
  

			
	MICHAEL FOODS GROUP, INC.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 Form of Swing Line Loan
Notice 

 EXHIBIT C-1 
 FORM OF TERM B NOTE 
 FOR VALUE RECEIVED, the undersigned (the
“Borrower”), hereby promises to pay to                          or registered assigns (the
“Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the aggregate unpaid principal amount of each Term B Loan made by the Lender to the Borrower under that certain Amended and Restated
Credit Agreement, dated as of February 25, 2011 (as may otherwise be amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time in accordance with its terms, the
“Agreement;” the terms defined therein being used herein as therein defined), among the Borrower, Holdings, the Lenders from time to time party thereto, BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and
L/C Issuer, and the other parties named therein. 
 The Borrower promises to pay interest on the aggregate unpaid principal
amount of each Term B Loan made by the Lender to the Borrower under the Agreement from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of
principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 

This Term B Note is one of the Term B Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole
or in part subject to the terms and conditions provided therein. This Term B Note is also entitled to the benefits of the Guaranty and is secured by the Collateral. Upon the occurrence and continuation of one or more of the Events of Default
specified in the Agreement, all amounts then remaining unpaid on this Term B Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Term B Loans made by the Lender shall be evidenced by one or more
loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this Term B Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto.

 The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of
protest, demand, dishonor and non-payment of this Term B Note. 
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 Term B Note 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
  

			
	MICHAEL FOODS GROUP, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

					
		  	[Signature Page]	  	Term B Note

 LOANS AND PAYMENTS WITH RESPECT THERETO 

 

													
	 Date
	  	Type of
Loan Made	  	Amount of
Loan Made	  	End of
Interest
Period	  	Amount of
Principal or
Interest Paid
This Date	  	Outstanding
Principal
Balance This
Date	  	Notation
Made By
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______

 Term B Note

 EXHIBIT C-2 
 FORM OF REVOLVING CREDIT NOTE 
 FOR VALUE RECEIVED, the undersigned (the
“Borrower”), hereby promises to pay to
                                 or registered assigns (the
“Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the aggregate unpaid principal amount of each Revolving Credit Loan from time to time made by the Lender to the Borrower under that
certain Amended and Restated Credit Agreement, dated as of February 25, 2011 (as may otherwise be amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time in accordance with its terms,
the “Agreement;” the terms defined therein being used herein as therein defined), among the Borrower, Holdings, the Lenders from time to time party thereto, BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender
and L/C Issuer, and the other parties named therein. 
 The Borrower promises to pay interest on the aggregate unpaid principal
amount of each Revolving Credit Loan from time to time made by the Lender to the Borrower under the Agreement from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the
Agreement. All payments of principal and interest shall be made to the Administrative Agent (or, in the case of Swing Line Loans, to the Swing Line Lender) for the account of the Lender in Dollars in immediately available funds at the Administrative
Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at
the per annum rate set forth in the Agreement. 
 This Revolving Credit Note is one of the Revolving Credit Notes referred to in
the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. This Revolving Credit Note is also entitled to the benefits of the Guaranty and is secured by the
Collateral. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Revolving Credit Note shall become, or may be declared to be, immediately due and payable
all as provided in the Agreement. Revolving Credit Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this
Revolving Credit Note and endorse thereon the date, amount and maturity of its Revolving Credit Loans and payments with respect thereto. 
 The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Revolving Credit Note.

 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

Revolving Credit Note 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
  

			
	MICHAEL FOODS GROUP, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

					
		  	[Signature Page]	  	Revolving Credit Note

 LOANS AND PAYMENTS WITH RESPECT THERETO 

 

													
	 Date
	  	Type of
Loan Made	  	Amount of
Loan Made	  	End of
Interest
Period	  	Amount of
Principal or
Interest Paid
This Date	  	Outstanding
Principal
Balance This
Date	  	Notation
Made By
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______
	_______	  	_______	  	_______	  	_______	  	_______	  	_______	  	_______

 Revolving Credit
Note 

 EXHIBIT D 
 FORM OF COMPLIANCE CERTIFICATE 
 Financial Statement Date:
                    , 
  

	To:	Bank of America, N.A., as Administrative Agent 

Ladies and Gentlemen: 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of February 25, 2011 (as may otherwise be amended,
restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time in accordance with its terms, the “Agreement;” the terms defined therein being used herein as therein defined), among
Michael Foods Group, Inc. (f/k/a M-Foods Holdings, Inc.), a Delaware corporation (the “Borrower”), MFI Midco Corporation, a Delaware corporation, the Lenders from time to time party thereto, Bank of America, N.A., as
Administrative Agent, L/C Issuer and Swing Line Lender, and the other parties named therein. 
 The undersigned Responsible
Officer hereby certifies as of the date hereof that he/she is the
                                        
of the Borrower, and that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrower, and that: 
 [Use following paragraph 1 for fiscal year-end financial statements] 
 1.
Attached hereto as Schedule 1 are the year-end audited financial statements required by Section 6.01(a) of the Agreement for the fiscal year of the Borrower ended as of the above date, together with the report and opinion of an
independent certified public accountant required by such section. 
 [Use following paragraph 1 for fiscal quarter-end
financial statements] 
 1. Attached hereto as Schedule 1 are the unaudited financial statements required by
Section 6.01(b) of the Agreement for the fiscal quarter of the Borrower ended as of the above date. Such financial statements fairly present in all material respects the financial condition, results of operations, shareholders’
equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP as at such date and for such period, subject only to normal year-end audit adjustments and the absence of footnotes. 

2. The undersigned has reviewed and is familiar with the terms of the Agreement and has made, or has caused to be made under his/her
supervision, a review of the activities of the Borrower during such fiscal period. 
 [select one:] 

Form of Compliance Certificate 

 [To the knowledge of the undersigned during such fiscal period, the Borrower performed and
observed each covenant of the Loan Documents applicable to it, and no Default has occurred and is continuing.] 

—or— 
 [The following covenants or conditions have not been performed or observed and the following is a list of each such Default and its nature and status:] 

3. The representations and warranties of the Borrower contained in Article V of the Agreement, or which are contained in any Loan
Documents, are true and correct in all material respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material
respects as of such earlier date, and except that for purposes of this Compliance Certificate, the representations and warranties contained in subsections (a) , (b) and (c) of Section 5.05 of the Agreement shall be deemed
to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Agreement, including the statements in connection with which this Compliance Certificate is delivered.

 4. The financial covenant analyses and information set forth on Schedule 2 attached hereto are delivered in compliance
with Section 6.02(b). 
 5. Attached hereto as Schedule 3 are (a) all supplements to Schedules
5.08(b), (c) and (d) and 5.17 to the Agreement and (b) a description of all events, conditions or circumstances during the fiscal quarter ended as of the above date requiring a mandatory prepayment under
Section 2.05(b) of the Agreement, in each case required by Section 6.02(g) of the Agreement. 
 IN
WITNESS WHEREOF, the undersigned has executed this Certificate as of                      ,
            . 
  

			
	MICHAEL FOODS GROUP, INC.
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 Form of Compliance
Certificate 

  
 2 

 For the Quarter/Year ended
                     (“Statement Date”) 
 SCHEDULE 2 
 to the Compliance Certificate 

($ in 000’s) 
  

	I.	Section 7.11 (a) – Total Leverage Ratio. 

  

	 	A.	Consolidated EBITDA 

					
		
	 1.      Consolidated Net Income
	  	$	_____	  
		
	 2.      The sum of, without duplication
	  			
		
	 (i)     total interest expense determined in accordance with GAAP (including, to the extent deducted and
not added back in computing Consolidated Net Income, (a) amortization of original issue discount resulting from the issuance of Indebtedness at less than par, (b) all commissions, discounts and other fees and charges owed with respect to letters of
credit or bankers’ acceptances, (c) non-cash interest payments, (d) the interest component of Capitalized Leases, (e) net payments, if any, made (less net payments, if any, received) pursuant to interest rate Swap Contracts with respect to
Indebtedness, (f) amortization of deferred financing fees, debt issuance costs, commissions, fees and expenses, and (g) any expensing of bridge, commitment and other financing fees) and, to the extent not reflected in such total interest expense,
any losses on hedging obligations or other derivative instruments entered into for the purpose of hedging interest rate risk, net of interest income and gains on such hedging obligations,
	  	$	_____	  
		
	 (ii)    provision for taxes based on income, profits or capital of the Borrower and the Restricted
Subsidiaries, including, without limitation, federal, state, franchise and similar taxes (such as Delaware franchise tax, Pennsylvania capital tax or Texas margin tax) and foreign withholding taxes paid or accrued during such period including
penalties and interest related to such taxes or arising from any tax examinations
	  	$	_____	  
		
	 (iii)  depreciation and amortization expense (including amortization of intangible assets)
	  	$	_____	  
		
	 (iv)   letter of credit fees
	  	$	_____	  
		
	 (v)    non-cash expenses resulting from any employee benefit or management compensation plan or the grant of
stock
	  			

 Form of Compliance Certificate 

  
 3 

					
	 and stock options to employees of Holdings, the Borrower or any Restricted Subsidiary pursuant to a written plan or agreement or the treatment of such
options under variable plan accounting
	  	$	_____	  
		
	 (vi)   any non-cash compensation charge or expense, including any such charge or expense arising from the grants
of stock appreciation or similar rights, stock options, restricted stock or other rights or equity incentive programs, and any cash charges associated with the rollover, acceleration or payout of Equity Interests by management of the Borrower or any
of its direct or indirect parents in connection with the Transactions
	  	$	_____	  
		
	 (vii) any costs or expenses incurred pursuant to any management equity plan or stock option plan or any other management or
employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such costs or expenses are funded with cash proceeds contributed to the capital of Holdings or net cash proceeds of an issuance of Equity
Interests of Holdings (other than Disqualified Equity Interests)
	  	$	_____	  
		
	 (viii) all extraordinary, non-recurring or unusual charges
	  	$	_____	  
		
	 (ix)   non-cash amortization of financing costs of such Person and its Restricted Subsidiaries
	  	$	_____	  
		
	 (x)    cash expenses incurred in connection with the Transaction
	  	$	_____	  
		
	 (xi)   cash restructuring charges or reserves and business optimization expense, including any restructuring costs
and integration costs incurred in connection with Permitted Acquisitions after the Initial Borrowing Date, project start-up costs, costs related to the closure and/or consolidation of facilities, retention charges, contract termination costs,
retention, recruiting, relocation, severance and signing bonuses and expenses, transaction fees and expenses, (including those in connection with, to the extent permitted hereunder, any Investment, any Debt Issuance, any Equity Issuance, any
Disposition, or any Casualty Event, in each case, whether or not consummated), future lease commitments, systems establishment costs, conversion costs and excess pension charges, consulting fees and any one-time expense relating to enhanced
accounting function, or costs associated with becoming a public company or any other costs incurred in connection with any of the foregoing; provided that the aggregate amount of add backs made pursuant to this subsection (xi) when added to the
aggregate amount of add backs made pursuant to subsection (xxiii) below, shall not exceed an amount equal to 10% of
	  			

 Form of Compliance Certificate 

  
 4 

					
	 Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended prior to the determination date (without giving effect to
any adjustments pursuant to this subsection (xi) or subsection (xxiii) below)
	  	$	_____	  
		
	 (xii)      any losses (or minus any gains) realized upon the disposition of property outside of the
ordinary course of business
	  	$	_____	  
		
	 (xiii)     any expenses, charges or losses that are covered by indemnification or other reimbursement
provisions in connection with any Investment, Permitted Acquisition or any sale, conveyance, transfer or other disposition of assets permitted under this Agreement, to the extent actually reimbursed, or, so long as the Borrower has made a
determination that reasonable evidence exists that such indemnification or reimbursement will be made, and only to the extent that such amount is (A) not denied by the applicable indemnifying party or obligor in writing and (B) in fact indemnified
or reimbursed within 365 days of such determination (with a deduction in the applicable future period for any amount so added back to the extent not so indemnified or reimbursed within such 365 days)
	  	$	_____	  
		
	 (xiv)     to the extent covered by insurance and actually reimbursed, or, so long as the Borrower has
made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (A) not denied in writing by the applicable insurer and (B) in fact reimbursed within
365 days of the date of such determination (with a deduction in the applicable future period for any amount so added back to the extent not so reimbursed within such 365 days), expenses, charges or losses with respect to liability or casualty events
or business interruption
	  	$	_____	  
		
	 (xv)      management fees permitted under Section 7.08(d) of the Agreement
	  	$	_____	  
		
	 (xvi)     any non-cash purchase accounting adjustment and any step-ups with respect to re-valuing assets
and liabilities in connection with the Transaction or any Investment permitted under Section 7.02 of the Agreement
	  	$	_____	  
		
	 (xvii)   non-cash losses from Joint Ventures and non-cash minority interest reductions
	  	$	_____	  
		
	 (xviii)  fees and expenses in connection with the exchange of the Senior Notes for registered notes with identical
terms as contemplated by the Senior Notes Indenture or
	  			

 Form of Compliance Certificate 

  
 5 

					
	 exchanges or refinancings permitted by Section 7.14 of the Agreement
	  	$	_____	  
		
	 (xix) expenses representing the implied principal component under Synthetic Lease Obligations
	  	$	_____	  
		
	 (xx)  expenses in connection with payments made by such Person or its Restricted Subsidiaries with respect to
industrial revenue bond financings and Guarantees in respect thereof
	  	$	_____	  
		
	 (xxi) losses from discontinued operations not to exceed $4,000,000 during any period of four (4) consecutive fiscal
quarters
	  	$	_____	  
		
	 (xxii)    other expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income
which do not represent a cash item in such period or future period, and
	  	$	_____	  
		
	 (xxiii)  the amount of net cost savings, operating expense reductions, other operating improvements and acquisition
synergies projected by the Borrower in good faith to be realized during such period (calculated on a pro forma basis as though such items had been realized on the first day of such period) as a result of actions taken or to be taken in connection
with the Transaction or any acquisition or disposition by the Borrower or any Restricted Subsidiary, net of the amount of actual benefits realized during such period that are otherwise included in the calculation of Consolidated EBITDA from such
actions, provided that (A) a duly completed certificate signed by a Responsible Officer of the Borrower shall be delivered to the Administrative Agent together with this Compliance Certificate, certifying that (x) such cost savings, operating
expense reductions and synergies are reasonably expected and factually supportable as determined in good faith by the Borrower, and (y) such actions are to be taken within (I) in the case of any such cost savings, operating expense reductions and
synergies in connection with the Transactions, 12 months after the Initial Borrowing Date and (II) in all other cases, within 12 months after the consummation of the acquisition or disposition, which is expected to result in such cost savings,
expense reductions or synergies, (B) no cost savings, operating expense reductions and synergies shall be added pursuant to this subsection (xxiii) to the extent duplicative of any expenses or charges otherwise added to Consolidated EBITDA, whether
through a pro forma adjustment or otherwise, for such period, (C) to the extent that any cost savings,
	  			

 Form of Compliance Certificate 

  
 6 

					
	 operating expense reductions and synergies are not associated with the Transaction, (D) projected amounts (and not yet realized) may no longer be
added in calculating Consolidated EBITDA pursuant to this subsection (xxiii) to the extent occurring more than four full fiscal quarters after the specified action taken in order to realize such projected cost savings, operating expense reductions
and synergies and (E) the aggregate amount of add backs made pursuant to this subsection (xxiii), when added to the aggregate amount of add backs made pursuant to subsection (xi) above, shall not exceed an amount equal to 10% of Consolidated EBITDA
for the period of four consecutive fiscal quarters most recently ended prior to the determination date (without giving effect to any adjustments pursuant to this subsection (xxiii) or subsection (xi) above),
	  	$	_____	  
		
	 2.1    Total
	  	$	_____	  
		
	 3.      An amount which, in determination of Consolidated Net Income, has been included for: (i)
all extraordinary, non-recurring or unusual gains and non-cash income during such period and; (ii) any gains realized upon the disposition of property outside of the ordinary course of business,
	  	$	_____	  
		
	 4.      Unrealized losses/gains in respect of all Swap Contracts, all as determined in accordance
with GAAP
	  	$	_____	  
		
	 5.      The amount of Restricted Payments made in reliance on Sections 7.06(e)(i), 7.06(e)(ii),
7.06(e)(vii) or 7.06(i) of the Agreement (except to the extent that (x) the amount paid with such Restricted Payments by Holdings would not, if the respective expense or other item had been incurred directly by the Borrower, have reduced
Consolidated EBITDA determined in accordance with this definition or (y) such Restricted Payment is paid by the Borrower in respect of an expense or other item that has resulted in, or will result in, a reduction of Consolidated EBITDA, as
calculated pursuant to the definition of Consolidated EBITDA)
	  	$	_____	  
		
	 6.      To the extent included elsewhere in this determination of Consolidated EBITDA, any income
(loss) for any period attributable to the early extinguishment of (i) Indebtedness, (ii) obligations under any Swap Contracts or (iii) other derivative instruments
	  	$	_____	  

 Form of
Compliance Certificate 

  
 7 

					
		
	 7.      Consolidated EBITDA for four consecutive fiscal quarters ending on the above date
(“Subject period”) (Line I.A.1 + Line I.A.2.1 - Line I.A.3 (+/-) Line I.A.4 – Line I.A.5 (-/+) Line I.A.6)
	  	$	_____	  
		
	 B. Consolidated Funded Indebtedness (net of up to an aggregate maximum of $50 million of (i) unrestricted cash and Cash
Equivalents on hand and (ii) cash and Cash Equivalents restricted in favor of the Administrative Agent or any Lender) at Statement Date:
	  			
		
	 1.      
	  			
	 All Indebtedness of the Borrower and its Restricted Subsidiaries on a consolidated basis, in an amount that would be reflected on a balance sheet
prepared as of such date on a consolidated basis in accordance with GAAP:
	  	$	_____	  
		
	 2.      Excluding:
	  			
		
	 (i)     the effects of any discounting of Indebtedness resulting from the application of purchase
accounting in connection with the Transactions or any Permitted Acquisition,
	  	$	_____	  
		
	 (ii)    net obligations under any Swap Contract,
	  	$	_____	  
		
	 (iii)  any earn-out obligation until such obligation becomes a liability on the balance sheet of the applicable
Person,
	  	$	_____	  
		
	 (iv)   any deferred compensation arrangements,
	  	$	_____	  
		
	 (v)    any non-compete or consulting obligations incurred in connection with Permitted
Acquisitions,
	  	$	_____	  
		
	 (vi)   obligations in respect of letters of credit (including Letters of Credit), except to the extent of
unreimbursed amounts thereunder; provided that any unreimbursed amount under commercial letters of credit shall not be counted as Consolidated Funded Indebtedness until 3 Business Days after such amount is drawn
	  	$	_____	  
		
	 3.      Consolidated Funded Indebtedness (Line I.B.1 – Lines I.B.2 (i) through
(vi))
	  	$	_____	  
		
	 4.      Up to an aggregate maximum of $50 million of (i) unrestricted cash and Cash Equivalents on
hand and (ii) cash and Cash Equivalents restricted in favor of the Administrative Agent or any Lender
	  	$	_____	  
		
	 5.      Total (Line 1.B.3 – 1.B.4)
	  	$	_____	  
		
	 C. Total Leverage Ratio (Line I.B.5 ÷ Line I.A.7):
	  	 	____:1	  

 Form of
Compliance Certificate 

  
 8 

 Maximum permitted: 

 

																	
	 Fiscal
 Year
	  	March 31	 	  	June 30	 	  	September 30	 	  	December 31	 
	 2011
	  	 	7.00:1.00	  	  	 	7.00:1.00	  	  	 	7.00:1.00	  	  	 	7.00:1.00	  
	 2012
	  	 	7.00:1.00	  	  	 	7.00:1.00	  	  	 	7.00:1.00	  	  	 	6.75:1.00	  
	 2013
	  	 	6.75:1.00	  	  	 	6.75:1.00	  	  	 	6.50:1.00	  	  	 	6.50:1.00	  
	 2014
	  	 	6.50:1.00	  	  	 	6.50:1.00	  	  	 	6.25:1.00	  	  	 	6.00:1.00	  
	 2015
	  	 	6.00:1.00	  	  	 	6.00:1.00	  	  	 	6.00:1.00	  	  	 	6.00:1.00	  
	 2016
	  	 	6.00:1.00	  	  	 	6.00:1.00	  	  	 	6.00:1.00	  	  	 	6.00:1.00	  
	 2017
	  	 	5.75:1.00	  	  	 	5.75:1.00	  	  	 	5.75:1.00	  	  	 	5.75:1.00	  

 Form of Compliance
Certificate 

  
 9 

					
		
	 II.     Section 7.11 (b) – Interest Coverage Ratio.
	  			
		
	 A.     Consolidated EBITDA (Line I.A.7 above)
	  	$	_____	  
		
	 B.     Consolidated Interest Charges for Subject Period:
	  	$	_____	  
		
	 C.     Consolidated Interest Coverage Ratio (Line II.A. ÷ Line II.B):
	  	 	____:1	  

 Minimum
required: 
  

																	
	 Fiscal
 Year
	  	March 31	 	  	June 30	 	  	September 30	 	  	December 31	 
	 2011
	  	 	1.80:1.00	  	  	 	1.80:1.00	  	  	 	1.80:1.00	  	  	 	1.85:1.00	  
	 2012
	  	 	1.85:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  
	 2013
	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  
	 2014
	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  	  	 	1.90:1.00	  
	 2015
	  	 	1.95:1.00	  	  	 	1.95:1.00	  	  	 	1.95:1.00	  	  	 	1.95:1.00	  
	 2016
	  	 	2.00:1.00	  	  	 	2.00:1.00	  	  	 	2.00:1.00	  	  	 	2.00:1.00	  
	 2017
	  	 	2.00:1.00	  	  	 	2.00:1.00	  	  	 	2.00:1.00	  	  	 	2.00:1.00	  

 Form of Compliance
Certificate 

  
 10 

 SCHEDULE 3 
 to the Compliance Certificate 
 (Supplements to Schedules 5.08(b), (c) and
(d) and 5.17 to the Agreement) 
 Form of Compliance Certificate 

  
 11 

 EXHIBIT E-1 
 ASSIGNMENT AND ASSUMPTION 
 This Assignment and Assumption (this
“Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee]
(the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the “Credit Agreement”), receipt of a copy of which is
hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full.

 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby
irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of
the Assignor’s rights and obligations as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such
outstanding rights and obligations of the Assignor under the respective facilities identified below (including, without limitation, Letters of Credit, Guarantees and Swing Line Loans included in such facilities) and (ii) to the extent permitted
to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any
other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory
claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred
to herein collectively as, the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the
Assignor. 
  

			
	 1.      Assignor:
	  	______________________________
		
	 2.      Assignee:
	  	______________________________ [and is an Affiliate/Approved Fund of [identify Lender]]
		
	 3.      Borrower(s):
	  	MICHAEL FOODS GROUP, INC., a Delaware Corporation
		
	 4.      Administrative Agent:
	  	BANK OF AMERICA, N.A., as the administrative agent under the Credit Agreement
		
	 5.      Credit Agreement:
	  	The Amended and Restated Credit Agreement, dated as of February 25, 2011, among Michael Foods Group, Inc. (f/k/a M-Foods Holdings, Inc.), a Delaware corporation, MFI Midco
Corporation, a Delaware corporation, the Lenders parties thereto,

 Form of Assignment and Assumption

 Bank of America, N.A., as Administrative Agent, L/C Issuer and 

Swing Line Lender, and the other parties thereto. 
  

	6.	Assigned Interest: 

  

													
	 Facility Assigned
	  	Aggregate
Amount of
Commitment/Loans
for all Lenders*	 	  	Amount of
Commitment/Loans
Assigned*	 	  	Percentage
Assigned of
Commitment/Loans	 
	 Extended Revolving Credit Facility
	  	$	________________	  	  	$	________________	  	  	 	______________	% 
	 Non-Extended Revolving Credit Facility
	  	$	________________	  	  	$	________________	  	  	 	______________	% 
	 Term B Facility
	  	$	________________	  	  	$	________________	  	  	 	______________	% 

  

	7.	Trade Date:                      

Effective Date:                      , 20
         [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	 
		 	    Title:

  

			
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:	 	 
		 	    Title:

  

			
	[Consented to and Accepted:
	
	 BANK OF AMERICA, N.A., as
     Administrative Agent

		
	By:	 	 
		 	Title:

 Consented to and Accepted: 

BANK OF AMERICA, N.A., as L/C Issuer 
 Form of Assignment and Assumption 

  
 2 

			
	By:	 	 
		 	Title:
	
	Consented to and Accepted:
	
	 BANK OF AMERICA, N.A., as Swing Line Lender

		
	By:	 	 
		 	Title:
	
	Consented to:
	
	MICHAEL FOODS GROUP, INC.
		
	By:	 	 
		 	Title:]1

  

	1	 To be included to the extent required. 

 Form of Assignment and Assumption 

  
 3 

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION 
 1. Representations and Warranties. 

1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest,
(ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to
consummate the transactions contemplated hereby and (iv) the sale and assignment of the Assigned Interest is made by this Assignment and Assumption in accordance with the terms and conditions contained in the Credit Agreement; and
(b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or
(iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document. 

1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it is not an Affiliate Lender, (iii) it meets all requirements
of an Eligible Assignee under the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement), (iv) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a
Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (v) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered
pursuant to Section 6.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned
Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (vi) if it is a Foreign Lender, attached hereto is any documentation required to be
delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender,
and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all
of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 Form of
Assignment and Assumption 

  
 4 

 2. Payments. From and after the Effective Date, the Administrative Agent shall make all
payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignee whether such amounts have accrued prior to or on or after the Effective Date. The Assignor and the Assignee shall make
all appropriate adjustments in payments by the Administrative Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves. 

3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their
respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of NEW YORK.

 Form of Assignment and Assumption 

  
 5 

 EXHIBIT E-2 
 AFFILIATE LENDER ASSIGNMENT AND ASSUMPTION 
 This Affiliate Lender Assignment and
Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name
of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the “Credit Agreement”), receipt of a
copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth
herein in full. 
 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the
Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below
(i) all of the Assignor’s rights and obligations as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all
of such outstanding rights and obligations of the Assignor under the respective facilities identified below and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or
in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and
assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned Interest”). Such sale and
assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 
  

									
	1.	 	Assignor:	 	 	  		  	
					
	2.	 	Assignee:	 	 	  		  	
		 		 	[and is a Permitted Investor or a Non-Debt Fund Affiliate of [identify Lender]]	  		  	
			
	3.	 	Borrower(s):	 	MICHAEL FOODS GROUP, INC., a Delaware Corporation

 

					
	4.	 	Administrative Agent:	 	BANK OF AMERICA, N.A., as the administrative agent under the Credit Agreement
			
	5.	 	Credit Agreement:	 	The Amended and Restated Credit Agreement, dated as of February 25, 2011, among Michael Foods Group, Inc. (f/k/a M-Foods Holdings, Inc.), a Delaware corporation, MFI
Midco

  
 Form of
Affiliate Lender Assignment and Assumption 

					
			
		 		 	Corporation, a Delaware corporation, the Lenders parties thereto, Bank of America, N.A., as Administrative Agent, Swing Line Lender, L/C Issuer and the other parties
thereto.

  

	6.	Assigned Interest: 

  

													
	 Facility Assigned
	  	Aggregate
Amount of
Commitment/Loans
for all Lenders*	 	  	Amount of
Commitment/Loans
Assigned*	 	  	Percentage
Assigned of
Commitment/Loans	 
	 Term B
	  	$	________________	  	  	$	________________	  	  	 	______________	% 
	 New Term
	  	$	________________	  	  	$	________________	  	  	 	______________	% 

  

	7.	Trade Date:                      

Effective Date:                      , 20
         [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	 
		 	    Title:

  

			
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:	 	 
		 	    Title:

  

			
	[Consented to and Accepted:
	
	 BANK OF AMERICA, N.A., as
 Administrative Agent

		
	By:	 	 
		 	Title:

  
 Form of
Affiliate Lender Assignment and Assumption 

			
	Consented to:
	
	MICHAEL FOODS GROUP, INC.
		
	By:	 	 
		 	Title:]2

  

 

	2	 To be included to
the extent required. 

  
 Form of
Affiliate Lender Assignment and Assumption 

 ANNEX 1 TO AFFILIATE LENDER ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR 
 AFFILIATE LENDER ASSIGNMENT AND ASSUMPTION 
 1. Representations and Warranties.

 1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the
Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and (iv) the sale and assignment of the Assigned Interest is made by this Assignment and Assumption in accordance with the terms and conditions contained in the Credit Agreement;
and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or
(iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document. 

1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it is a Permitted Investor or Non-Debt Fund Affiliate,
(iii) this Assignment and Assumption is being made pursuant to an open market purchase, (iv) no Default has occurred or is continuing or would result from the consummation of the transactions contemplated by this Assignment and Assumption,
(v) after giving effect to this Assignment and Assumption, the aggregate principal amount of all Term B Loans or New Term Loans held by all Permitted Investors and Non-Debt Fund Affiliates constitutes less than 10% of the aggregate principal
amount of all Loans then outstanding, (vi) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender
thereunder, (vii) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such other documents and information as it has
deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the
Administrative Agent or any other Lender, and (viii) if it is a Foreign Lender, attached hereto is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee;
(b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with 

  
 Form of
Affiliate Lender Assignment and Assumption 

 
their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender; and (c) hereby affirms the No Undisclosed Information
Representation. For the avoidance of doubt, Lenders shall not be permitted to assign Revolving Credit Commitments or Revolving Credit Loans to any Affiliate Lender. 
 2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to
the Assignee whether such amounts have accrued prior to or on or after the Effective Date. The Assignor and the Assignee shall make all appropriate adjustments in payments by the Administrative Agent for periods prior to the Effective Date or with
respect to the making of this assignment directly between themselves. 
 3. General Provisions. This Assignment and Assumption
shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument.
Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be
governed by, and construed in accordance with, the law of the State of NEW YORK. 

  
 Form of
Affiliate Lender Assignment and Assumption 

 EXHIBIT E-3 
 FORM OF ADMINISTRATIVE QUESTIONNAIRE 
 [See attached] 

  
 Form of
Administrative Questionnaire 

 EXHIBIT F-1 
 HOLDINGS GUARANTY 
 (CIRCULATED SEPARATELY) 

 EXHIBIT F-2 
 SUBSIDIARY GUARANTY 
 (CIRCULATED SEPARATELY) 

 EXHIBIT G 
 SECURITY AGREEMENT 
 (CIRCULATED SEPARATELY) 

  
 Form of
Mortgage 

 EXHIBIT H 
 FORM OF MORTGAGE 
 (See attached) 

  
 Form of
Mortgage 

 EXHIBIT I 
 INTELLECTUAL PROPERTY SECURITY AGREEMENT 
 (CIRCULATED SEPARATELY)

  
 Intellectual
Property Security Agreement 

 EXHIBIT J 
 AFFIRMATION AGREEMENT 
 (CIRCULATED SEPARATELY)Security Agreement, dated June 29, 2010

 Exhibit 10.2 
 SECURITY AGREEMENT 
 Dated June 29, 2010 

From 
 The
Grantors referred to herein 
 as Grantors 
 to 
 BANK OF AMERICA, N.A. 

as Administrative Agent 

 T A B L E O F C O N
T E N T S 
  

							
	Section	  	 	  	Page	 
			
	 Section 1.
	  	 Grant of Security
	  	 	2	  
			
	 Section 2.
	  	 Security for Obligations
	  	 	6	  
			
	 Section 3.
	  	 Grantors Remain Liable
	  	 	6	  
			
	 Section 4.
	  	 Delivery and Control of Security Collateral
	  	 	7	  
			
	 Section 5.
	  	Maintaining Electronic Chattel Paper, Transferable Records and Letter-of-Credit Rights and Giving Notice of Commercial Tort Claims	  	 	7	  
			
	 Section 6.
	  	 Representations and Warranties
	  	 	8	  
			
	 Section 7.
	  	 Further Assurances
	  	 	10	  
			
	 Section 8.
	  	 As to Equipment and Inventory
	  	 	11	  
			
	 Section 9.
	  	 Post-Closing Changes; Bailees; Collections on Assigned Agreements and Accounts
	  	 	11	  
			
	 Section 10.
	  	 As to Intellectual Property Collateral
	  	 	12	  
			
	 Section 11.
	  	 Voting Rights; Dividends; Etc.
	  	 	13	  
			
	 Section 12.
	  	 Transfers and Other Liens; Additional Shares
	  	 	14	  
			
	 Section 13.
	  	 Administrative Agent Appointed Attorney-in-Fact
	  	 	15	  
			
	 Section 14.
	  	 Administrative Agent May Perform
	  	 	15	  
			
	 Section 15.
	  	 The Administrative Agent’s Duties
	  	 	15	  
			
	 Section 16.
	  	 Remedies
	  	 	16	  
			
	 Section 17.
	  	 Indemnity and Expenses
	  	 	17	  
			
	 Section 18.
	  	 Amendments; Waivers; Additional Grantors; Etc.
	  	 	17	  
			
	 Section 19.
	  	 Notices, Etc.
	  	 	18	  
			
	 Section 20.
	  	 Continuing Security Interest; Assignments under the Credit Agreement
	  	 	18	  
			
	 Section 21.
	  	 Release; Termination
	  	 	18	  
			
	 Section 22.
	  	 Execution in Counterparts
	  	 	19	  
			
	 Section 23.
	  	 The Mortgages
	  	 	19	  

  
 i 

							
			
	 Section 24.
	  	 Governing Law
	  	 	19	  

  

					
	 Schedules I
	  	-	  	Location, Chief Executive Office, Place Where Agreements Are Maintained, Type Of Organization, Jurisdiction Of Organization And Organizational Identification Number
	 Schedule II
	  	-	  	Pledged Equity
	 Schedule III
	  	-	  	Patents, Trademarks and Trade Names, Copyrights and IP Agreements
	 Schedule IV
	  	-	  	Commercial Tort Claims
			
	 Exhibits
	  		  	
			
	 Exhibit A
	  	-	  	Form of Security Agreement Supplement
	 Exhibit B
	  	-	  	Form of Intellectual Property Security Agreement
	 Exhibit C
	  	-	  	Form of Intellectual Property Security Agreement Supplement

  
 ii 

 SECURITY AGREEMENT 

SECURITY AGREEMENT dated June 29, 2010 made by MICHAEL FOODS GROUP, INC. (f/k/a M-FOODS HOLDINGS, INC.), a Delaware corporation (the
“Borrower”), MFI MIDCO CORPORATION, a Delaware corporation (“Holdings”), the other Persons listed on the signature pages hereof and the Additional Grantors (as hereinafter defined) (the Borrower,
Holdings, the Persons so listed and the Additional Grantors being, collectively, the “Grantors”), to BANK OF AMERICA, N.A., as administrative agent (in such capacity, together with any successor administrative agent, the
“Administrative Agent”) for the Secured Parties. 
 PRELIMINARY STATEMENTS. 

(1) The Borrower has entered into a Credit Agreement dated of even date herewith (said Agreement, as it may hereafter be amended, amended
and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder), being the “Credit Agreement”) with Holdings, the Lenders, the Swing
Line Lender, the L/C Issuer and the Agents. 
 (2) Pursuant to the Credit Agreement, the Grantors are entering into this
Agreement in order to grant to the Administrative Agent for the ratable benefit of the Secured Parties a security interest in the Collateral (as hereinafter defined). 
 (3) It is a condition precedent to the making of Loans and the issuance of Letters of Credit by the Lenders under the Credit Agreement, the entry into Secured Hedge Agreements by the Hedge Banks from time
to time and the entry into Secured Cash Management Agreements by the Cash Management Banks from time to time that the Grantors shall have granted the assignment and security interest and made the pledge and assignment contemplated by this Agreement.

 (4) Each Grantor will derive substantial direct and indirect benefit from the transactions contemplated by the Loan
Documents. 
 (5) Terms defined in the Credit Agreement and not otherwise defined in this Agreement are used in this Agreement
as defined in the Credit Agreement. Further, unless otherwise defined in this Agreement or in the Credit Agreement, terms defined in Article 8 or 9 of the UCC (as defined below) are used in this Agreement as such terms are defined in such Article 8
or 9 (including Accounts, Certificated Security, Chattel Paper, Commercial Tort Claims, Commodity Account, Commodity Contract, Deposit Accounts, Documents, Equipment, Farm Products, Financial Assets, Fixtures, General Intangibles, Goods,
Instruments, Inventory, Investment Property, Letter of Credit Rights, Securities Accounts, Securities Intermediary, Security, Security Entitlements and Supporting Obligations). “UCC” means the Uniform Commercial Code as
defined in the Credit Agreement. 
 NOW, THEREFORE, in consideration of the premises and in order to induce the Lenders to make
Loans and issue Letters of Credit under the Credit Agreement, to induce the Hedge Banks to enter into Secured Hedge Agreements from time to time and to induce the Cash Management Banks to enter into Secured Cash Management Agreements from time to
time, each 

 
Grantor hereby agrees with the Administrative Agent for the ratable benefit of the Secured Parties as follows: 
 Section 1. Grant of Security. Each Grantor hereby grants to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in such Grantor’s right, title and
interest in and to the following, other than Excluded Property (as hereinafter defined), in each case, as to each type of property described below, whether now owned or hereafter acquired by such Grantor, wherever located, and whether now or
hereafter existing or arising (collectively, the “Collateral”): 
 (a) all Accounts;

 (b) all cash and Cash Equivalents; 

(c) all Chattel Paper; 
 (d) all Commercial Tort Claims set forth on Schedule IV hereto or for which notice is provided pursuant to Section 5(b) below; 

(e) all Deposit Accounts; 
 (f) all Documents; 
 (g) all Equipment; 

(h) all Farm Products; 
 (i) Subject to Section 23 hereof, all Fixtures; 
 (j) all
General Intangibles; 
 (k) all Goods; 

(l) all Instruments; 
 (m) all Inventory; 
 (n) all Letter-of-Credit Rights; 

(o) the following (the “Security Collateral”): 

(i) all indebtedness evidenced by promissory notes or other instruments from time to time owed to such Grantor (the
“Pledged Debt”), and all interest, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Debt; 

  
 2 

 (ii) all Equity Interests from time to time acquired, owned or held by such
Grantor in any manner, including, without limitation, the Equity Interests of each Grantor set forth opposite such Grantor’s name on and otherwise described on Schedule II (as such Schedule II may be supplemented from time to time by
supplements to this Agreement) (all such Equity Interests, together with the Pledged Equity, being the “Pledged Equity”), and the certificates, if any, representing such additional shares or units or other Equity Interests,
and all dividends, distributions, return of capital, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares or other Equity Interests and all
subscription warrants, rights or options issued thereon or with respect thereto; provided that such Grantor shall not be required to pledge, and the terms “Pledged Equity” and “Security Collateral” used in
this Agreement shall not include any Equity Interests in any Foreign Subsidiary acquired, owned or otherwise held by such Grantor which, when aggregated with all of the other shares of stock in such Foreign Subsidiary pledged by such Grantor, would
result in more than 65% of the shares of stock in such Foreign Subsidiary (or any direct or indirect Domestic Subsidiary that is treated as a disregarded entity for United States federal income tax purposes if substantially all of its assets consist
of Equity Interests of one or more direct or indirect Foreign Subsidiaries) entitled to vote (within the meaning of Treasury Regulation Section 1.956-2(c)(2) promulgated under the Code) (the “Voting Foreign
Stock”) being pledged to the Administrative Agent, on behalf of the Secured Parties under this Agreement; provided, further, that all of the shares of stock or units or other Equity Interests in such Foreign Subsidiary not
entitled to vote (within the meaning of Treasury Regulation Section 1.956-2(c)(2) promulgated under the Code) (the “Non-Voting Foreign Stock”) shall be pledged by such Grantor; and 

(iii) all Investment Property and all Financial Assets, and all dividends, distributions, return of capital, interest,
cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange therefor and all subscription warrants, rights or options issued thereon or with respect thereto; 

(p) all contracts and agreements between any Grantor and one or more additional parties (including, without limitation,
any Swap Contracts, licensing agreements and any partnership agreements, joint venture agreements, limited liability company agreements) and the IP Agreements (as hereinafter defined), in each case as such agreements may be amended, amended and
restated, supplemented or otherwise modified from time to time (collectively, the “Assigned Agreements”), including, without limitation, all rights of such Grantor to receive moneys due and to become due under or pursuant to
the Assigned Agreements, (all such Collateral being the “Agreement Collateral”), but excluding any contract or agreement to the extent that (but only as long as) the terms therof prohibit the assignment of, or granting a
security interest in, such contract or agreement (it being understood and agreed, however, (i) that notwithstanding the foregoing, all rights to payment for money due or to become due pursuant to any such

  
 3 

 
excluded contract shall be subject to the security interests created by this Agreement and (ii) such excluded contact or agreement shall otherwise be subject to the security interests
created by this Agreement upon receiving any necessary approvals or waivers permitting the assignment thereof); 

(q) the following (collectively, the “Intellectual Property Collateral”): 

(i) all patents, patent applications and utility models, all inventions claimed therein and the right to claim any
inventions disclosed but unclaimed therein (“Patents”); 
 (ii) all trademarks, service
marks, domain names, trade dress, logos, designs, slogans, trade names, business names, corporate names and other source identifiers, whether registered or unregistered (provided that no security interest shall be granted in United States
intent-to-use trademark applications to the extent that, and solely during the period in which, the grant of a security interest therein would impair the validity or enforceability of such intent-to-use trademark applications under applicable
federal law), together, in each case, with the goodwill symbolized thereby (“Trademarks”); 
 (iii) all copyrights, including, without limitation, copyrights in Computer Software (as hereinafter defined), internet web sites and the content thereof, whether registered or unregistered
(“Copyrights”); 
 (iv) all computer software, programs and databases (including, without
limitation, source code, object code and all related applications and data files), firmware and documentation and materials relating thereto, together with any and all maintenance rights, service rights, programming rights, hosting rights, test
rights, improvement rights, renewal rights and indemnification rights and any substitutions, replacements, improvements, error corrections, updates and new versions of any of the foregoing (“Computer Software”); 

(v) all confidential and proprietary information, including, without limitation, know-how, trade secrets, manufacturing
and production processes and techniques, inventions, research and development information, databases and data, including, without limitation, technical data, financial, marketing and business data, pricing and cost information, business and
marketing plans and customer and supplier lists and information (collectively, “Trade Secrets”), and all other intellectual, industrial and intangible property of any type, including, without limitation, industrial designs
and mask works; 
 (vi) all registrations and applications for registration for any of the foregoing, including,
without limitation, those registrations and applications for registration set forth in Schedule III hereto (as such Schedule III may be supplemented from time to time by supplements to this Agreement, each such supplement being
substantially in the form of Exhibit C hereto (an “IP Security Agreement Supplement”) executed by such Grantor to the Administrative Agent 

  
 4 

 
from time to time), together with all reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations thereof; 

(vii) all rights in the foregoing provided by international treaties or conventions, all rights corresponding thereto
throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto; 
 (viii) all agreements, permits, consents, orders and franchises relating to the license, development, use or disclosure of any of the foregoing to which such Grantor, now or hereafter, is a party or a
beneficiary (“IP Agreements”); and 
 (ix) any and all claims for damages and injunctive
relief for past, present and future infringement, dilution, misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, such damages;

 (r) all books and records (including, without limitation, customer lists, credit files, printouts and other
computer output materials and records) of such Grantor pertaining to any of the Collateral; 
 (s) and all other
tangible and intangible personal property of whatever nature whether or not covered by Article 9 of the UCC; and 

(t) all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with respect
to, and Supporting Obligations relating to, any and all of the Collateral, and, to the extent not otherwise included, all payments under insurance (whether or not the Administrative Agent is the loss payee thereof), or any indemnity, warranty
or guaranty, payable by reason of loss or damage to or otherwise with respect to any of the foregoing Collateral; 
 provided that
notwithstanding anything to the contrary contained in the foregoing clauses (a) through (t), the security interest created by this Agreement shall not extend to, and the terms “Collateral,” “Security Collateral,”
“Agreement Collateral,” “Intellectual Property Collateral” and other terms defining the components of the Collateral in the foregoing clauses (a) through (t) shall not include, any of the following (collectively, the
“Excluded Property”): 
 (i) any Equity Interests issued by an Unrestricted Subsidiary;

 (ii) any Equity Interests in partnerships, Joint Ventures and Subsidiaries (other than Subsidiaries that are
wholly owned by a Grantor) to the extent that the grant of a security interest therein would require the consent of any Person who owns Equity Interests in such partnership, Joint Venture or Subsidiary (other than an Affiliate of the Borrower) which
consent has not been obtained; 
 (iii) any Voting Foreign Stock excluded from the Pledged Equity and Security
Collateral pursuant to the proviso to clause (o)(ii) above; 

  
 5 

 (iv) any contract or agreement excluded from the Agreement Collateral
pursuant to clause (p) above but only to the extent so excluded; 
 (v) any lease, license or other
agreement or any property subject to a purchase money Lien permitted under the Credit Agreement to the extent that a grant of a security interest therein would violate or invalidate such lease, license, agreement, or purchase money arrangement, or
create a right of termination in favor of any other party thereto (other than any Grantor), in each case to the extent not rendered unenforceable pursuant to applicable provisions of the UCC or other applicable law, provided, that the Collateral
includes proceeds and receivables of any property excluded under this clause (iii), the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibition; and 

(vi) those assets as to which the Administrative Agent and the Borrower reasonably agree that the cost of obtaining a
security interest therein or perfection thereof are excessive in relation to the benefit to the Secured Parties of the security to be afforded thereby; and 
 provided, further, that notwithstanding anything to the contrary contained in the foregoing clauses (a) through (t), no Grantor shall be required to (x) enter into control agreements or
otherwise perfect any security interest by “control” (except as otherwise required under Sections 2 through 24 of this Agreement, including the requirements under Section 4 with respect to the delivery of the certificates, instruments
and duly executed instruments of transfer or assignment in blank as set out therein) (y) to perfect any security interest in motor vehicles or other assets covered by a certificate of title (except by the filing of UCC financing statements) or
(z) take any action in any jurisdiction to create any security interest in assets located or titled outside of the United States of America or to perfect any security interest in such assets or to enter into any security agreements or pledge
agreements governed by the laws of any jurisdiction outside the United States of America (collectively, the “Perfection Exceptions”). 
 Section 2. Security for Obligations. This Agreement secures, in the case of each Grantor, the payment of all Obligations of such Grantor now or hereafter existing under the Loan Documents (as such
Loan Documents may be amended, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder)), whether direct or indirect, absolute or
contingent, and whether for principal, reimbursement obligations, interest, fees, premiums, penalties, indemnifications, contract causes of action, costs, expenses or otherwise (all such Obligations being the “Secured
Obligations”). 
 Section 3. Grantors Remain Liable. Anything herein to the contrary notwithstanding,
(a) each Grantor shall remain liable under the contracts and agreements included in such Grantor’s Collateral to the extent set forth therein to perform all of its duties and obligations thereunder to the same extent as if this Agreement
had not been executed, (b) the exercise by the Administrative Agent of any of the rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral and (c) no
Secured Party shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of this Agreement or any other Loan Document, 

  
 6 

 
nor shall any Secured Party be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned
hereunder. 
 Section 4. Delivery and Control of Security Collateral. (a) All certificates representing or
evidencing the Pledged Equity and all instruments representing or evidencing the Pledged Debt in an aggregate principal amount in excess of $3,000,000 shall be delivered to and held by or on behalf of the Administrative Agent pursuant hereto and
shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance satisfactory to the Administrative Agent. During the continuation of an Event of
Default, the Administrative Agent shall have the right, at any time in its discretion and without notice to any Grantor, to (i) transfer to or to register in the name of the Administrative Agent or any of its nominees any or all of the Security
Collateral, subject only to the revocable rights specified in Section 11(a), (ii) exchange certificates or instruments representing or evidencing Security Collateral for certificates or instruments of smaller or larger denominations, and
(iii) convert Security Collateral consisting of financial assets credited to any Securities Account to Security Collateral consisting of financial assets held directly by the Administrative Agent, and to convert Security Collateral consisting
of financial assets held directly by the Administrative Agent to Security Collateral consisting of financial assets credited to any Securities Account. 
 (b) During the continuation of an Event of Default, promptly upon the request of the Administrative Agent, with respect to any Security Collateral in which any Grantor has any right, title or interest and
that constitutes an uncertificated security, such Grantor will cause the issuer thereof either (i) to register the Administrative Agent as the registered owner of such security or (ii) to agree in an authenticated record with such Grantor
and the Administrative Agent that such issuer will comply with instructions with respect to such security originated by the Administrative Agent without further consent of such Grantor, such authenticated record to be in form and substance
satisfactory to the Administrative Agent. During the continuation of an Event of Default, with respect to any Security Collateral in which any Grantor has any right, title or interest and that is not an uncertificated security, promptly upon the
request of the Administrative Agent, such Grantor will notify each such issuer of Pledged Equity that such Pledged Equity is subject to the security interest granted hereunder. 

(c) During the continuation of an Event of Default, promptly upon the request of the Administrative Agent, such Grantor will notify each
such issuer of Pledged Debt that such Pledged Debt is subject to the security interest granted hereunder. 
 Section 5.
Maintaining Electronic Chattel Paper, Transferable Records and Letter-of-Credit Rights and Giving Notice of Commercial Tort Claims. So long as any Loan or any other Obligation of any Loan Party under any Loan Document shall remain unpaid, any
Letter of Credit shall be outstanding, any Secured Hedge Agreement or Secured Cash Management Agreement shall be in effect or any Lender shall have any Commitment: 

(a) During the continuation of an Event of Default, promptly upon the request of the Administrative Agent, each Grantor
will maintain all (i) Electronic Chattel Paper so that the Administrative Agent has control of the Electronic Chattel Paper in the 

  
 7 

 
manner specified in Section 9-105 of the UCC and (ii) all transferable records so that the Administrative Agent has control of the transferable records in the manner specified in
Section 16 of the Uniform Electronic Transactions Act, as in effect in the jurisdiction governing such transferable record (“UETA” ); and 

(b) Each Grantor will give prompt notice to the Administrative Agent of any Commercial Tort Claim in excess of $3,000,000
that may arise in the future and will promptly execute or otherwise authenticate a supplement to this Agreement, and otherwise take all necessary action, to subject such Commercial Tort Claim to the first priority security interest created under
this Agreement. 
 Section 6. Representations and Warranties. Each Grantor represents and warrants as follows (it being
understood that none of the foregoing applies to the Excluded Property): 
 (a) Such Grantor’s exact legal
name, as defined in Section 9-503(a) of the UCC, is correctly set forth in Schedule I hereto (as such Schedule I may be supplemented from time to time by supplements to this Agreement). Such Grantor is located (within the meaning of
Section 9-307 of the UCC) and has its chief executive office, in the state or jurisdiction set forth in Schedule I hereto. The information set forth in Schedule I hereto with respect to such Grantor is true and accurate in all material
respects. 
 (b) All of the Equipment and Inventory of such Grantor, in each case, with value (together with the
value of all Equipment and Inventory of all other Grantors located at the same place) in excess of $3,000,000 are located at the places specified therefor in Schedules 5.08(b), (c) and (d) to the Credit Agreement. All Pledged Equity
consisting of certificated securities have been delivered to the Administrative Agent in accordance herewith. 

(c) Such Grantor is the legal and beneficial owner of the Collateral of such Grantor free and clear of any Lien, claim,
option or right of others, except for the security interest created under this Agreement, subject to Liens permitted under Section 7.01 of the Credit Agreement. 

(d) The Pledged Equity pledged by such Grantor hereunder has been duly authorized and validly issued and is fully paid and
non-assessable. 
 (e) The Pledged Equity pledged by such Grantor constitutes the percentage of the issued and
outstanding Equity Interests of the issuers thereof indicated on Schedule II hereto. 
 (f) Upon the filing
of appropriate financing statements, all actions necessary to perfect the security interest in the Collateral of such Grantor created under this Agreement with respect to which a Lien may be perfected by filing pursuant to the UCC shall have been
duly made or taken and are in full force and effect, and this Agreement creates in favor of the Administrative Agent for the benefit of the Secured Parties a valid and, together with such filings and other actions, perfected first priority security
interest 

  
 8 

 
in such Collateral of such Grantor (subject to the Perfection Exceptions and Liens permitted by Section 7.01 of the Credit Agreement), securing the payment of the Secured Obligations.

 (g) Except as could not reasonably be expected to have a Material Adverse Effect as to itself and its
Intellectual Property Collateral: 
 (i) To the Grantor’s knowledge, the operation of such Grantor’s
business as currently conducted or as contemplated to be conducted and the use of the Intellectual Property Collateral in connection therewith do not conflict with, infringe, misappropriate, dilute, misuse or otherwise violate the intellectual
property rights of any third party. 
 (ii) The Intellectual Property Collateral is subsisting and has not been
adjudged invalid or unenforceable in whole or part, and to such Grantor’s knowledge, is valid and enforceable. Such Grantor is not aware of any uses of any item of Intellectual Property Collateral that could be expected to lead to such item
becoming invalid or unenforceable. 
 (iii) Such Grantor has made or performed all filings, recordings and other
acts and has paid all required fees and taxes to maintain and protect its interest in each and every item of Intellectual Property Collateral in full force and effect throughout the world, and to protect and maintain its interest therein including,
without limitation, recordations of any of its interests in the Patents and Trademarks with the U.S. Patent and Trademark Office and in corresponding national and international patent offices, and recordation of any of its interests in the
Copyrights with the U.S. Copyright Office and in corresponding national and international copyright offices. Such Grantor has used proper statutory notice in connection with its use of each patent, trademark and copyright in the Intellectual
Property Collateral. 
 (iv) To such Grantor’s knowledge, (A) none of the Trade Secrets of such Grantor
has been used, divulged, disclosed or appropriated to the detriment of such Grantor for the benefit of any other Person other than such Grantor; (B) no employee, independent contractor or agent of such Grantor has misappropriated any trade
secrets of any other Person in the course of the performance of his or her duties as an employee, independent contractor or agent of such Grantor; and (C) no employee, independent contractor or agent of such Grantor is in default or breach of
any term of any employment agreement, non-disclosure agreement, assignment of inventions agreement or similar agreement or contract relating in any way to the protection, ownership, development, use or transfer of such Grantor’s Intellectual
Property Collateral. 
 (v) To such Grantor’s knowledge, no Grantor or Intellectual Property Collateral is
subject to any outstanding consent, settlement, decree, order, injunction, judgment or ruling restricting the use of any Intellectual Property 

  
 9 

 
Collateral or that would impair the validity or enforceability of such Intellectual Property Collateral. 
 Section 7. Further Assurances. (a) Each Grantor agrees that from time to time, at the expense of such Grantor, such Grantor will promptly execute and deliver, or otherwise authenticate, all
further instruments and documents, and take all further action that may be reasonably necessary or that the Administrative Agent may reasonably request, in order to perfect and protect any pledge or security interest granted or purported to be
granted by such Grantor hereunder or to enable the Administrative Agent to exercise and enforce its rights and remedies hereunder with respect to any Collateral of such Grantor, subject in each case to the Perfection Exceptions. Without
limiting the generality of the foregoing, each Grantor will, upon the Administrative Agent’s reasonable request, promptly with respect to Collateral of such Grantor: (i) if any such Collateral shall be evidenced by a promissory note or
other instrument or Chattel Paper, deliver and pledge to the Administrative Agent hereunder such note or instrument or Chattel Paper duly indorsed and accompanied by duly executed instruments of transfer or assignment, all in form and substance
reasonably satisfactory to the Administrative Agent; (ii) execute or authenticate and file such financing or continuation statements, or amendments thereto, and such other instruments or notices, as may be reasonably necessary or desirable, or
as the Administrative Agent may reasonably request, in order to perfect and preserve the security interest granted or purported to be granted by such Grantor hereunder; (iii) deliver and pledge to the Administrative Agent for benefit of the
Secured Parties certificates representing Security Collateral that constitutes certificated securities, accompanied by undated stock or bond powers executed in blank; (iv) during the continuation of an Event of Default take all action necessary
to ensure that the Administrative Agent has control of Collateral consisting of Deposit Accounts (other than (collectively, the “Exempt Deposit Accounts”) (i) Deposit Accounts the balance of which consists exclusively of
(A) withheld income taxes and federal, state or local employment taxes in such amounts as are required in the reasonable judgment of the Borrower to be paid to the Internal Revenue Service or state or local government agencies within the
following two months with respect to employees of any of the Loan Parties and (B) amounts required to be paid over to an employee benefit plan pursuant to DOL Reg. Sec. 2510.3-102 on behalf of or for the benefit of employees of one or more Loan
Parties and (ii) all segregated Deposit Accounts constituting (and the balance of which consists solely of funds set aside in connection with) taxes accounts, payroll accounts and trust accounts), Electronic Chattel Paper, Investment
Property, Letter of Credit Rights and transferable records as provided in Sections 9-104, 9-105, 9-106 and 9-107 of the UCC and in Section 16 of UETA; and (v) deliver to the Administrative Agent evidence that all other action (subject to
the Perfection Exceptions) that the Administrative Agent may deem reasonably necessary or desirable in order to perfect and protect the security interest created by such Grantor under this Agreement has been taken. 

(b) Each Grantor hereby authorizes the Administrative Agent to file one or more financing or continuation statements, and amendments
thereto, including, without limitation, one or more financing statements indicating that such financing statements cover all assets or all personal property (or words of similar effect) of such Grantor, in each case without the signature of such
Grantor, and regardless of whether any particular asset described in such financing statements falls within the scope of the UCC or the granting clause of this Agreement. A photocopy or other reproduction of this Agreement or any financing statement
covering the 

  
 10 

 
Collateral or any part thereof shall be sufficient as a financing statement where permitted by law. Each Grantor ratifies its authorization for the Administrative Agent to have filed such
financing statements, continuation statements or amendments filed prior to the date hereof. 
 Section 8. As to Equipment and
Inventory. Each Grantor will cause the Equipment of such Grantor to be maintained and preserved in the same condition, repair and working order as required under the Credit Agreement. Each Grantor will promptly furnish to the Administrative
Agent a statement respecting any loss or damage exceeding $1,000,000 to any of the Equipment or Inventory of such Grantor. 

Section 9. Post-Closing Changes; Bailees; Collections on Assigned Agreements and Accounts. (a) No Grantor will change its
name, type of organization, jurisdiction of organization, organizational identification number or location from those set forth in Section 6(a) of this Agreement without first giving at least 10 days’ (or such lesser period of time as the
Administrative Agent may agree) prior written notice (or subsequent written notice if the Administrative Agent agrees in its reasonable discretion) to the Administrative Agent and taking all action required by the Administrative Agent for the
purpose of perfecting or protecting the security interest granted by this Agreement. 
 (b) During the continuation of an Event
of Default, if any Collateral of any Grantor is at any time in the possession or control of a warehouseman, bailee or agent, upon the request of the Administrative Agent such Grantor will (i) notify such warehouseman, bailee or agent of the
security interest created hereunder, (ii) instruct such warehouseman, bailee or agent to hold all such Collateral solely for the Administrative Agent’s account subject only to the Administrative Agent’s instructions, (iii) use
commercially reasonable efforts, to cause such warehouseman, bailee or agent to authenticate a record acknowledging that it holds possession of such Collateral for the Administrative Agent’s benefit and shall act solely on the instructions of
the Administrative Agent without the further consent of the Grantor or any other Person, and (iv) make such authenticated record available to the Administrative Agent. 
 (c) Except as otherwise provided in this subsection (c), each Grantor will continue to collect, at its own expense, all amounts due or to become due such Grantor under the Accounts. In connection with
such collections, such Grantor may take (and, at the Administrative Agent’s direction during the continuation of an Event of Default, may take) such commercially reasonable action as such Grantor (or the Administrative Agent) may deem necessary
or advisable to enforce collection thereof; provided, however, that the Administrative Agent shall have the right at any time upon the occurrence and during the continuance of an Event of Default and upon written notice to such Grantor
of its intention to do so, to notify the Obligors under any Accounts, of the assignment of such Accounts, to the Administrative Agent and to direct such Obligors to make payment of all amounts due or to become due to such Grantor thereunder directly
to the Administrative Agent and, upon such notification and at the expense of such Grantor, to enforce collection of any such Accounts, to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as such
Grantor might have done, and to otherwise exercise all rights with respect to such Accounts, including, without limitation, those set forth set forth in Section 9-607 of the UCC. After receipt by any Grantor of the notice from the
Administrative Agent referred to in the proviso to the preceding sentence, (i) all amounts and proceeds (including, without limitation, instruments) 

  
 11 

 
received by such Grantor in respect of the Accounts, of such Grantor shall be received in trust for the benefit of the Administrative Agent hereunder, shall be segregated from other funds of such
Grantor and shall be either (A) released to such Grantor to the extent permitted under the terms of the Credit Agreement so long as no an Event of Default shall have occurred and be continuing or (B) if any Event of Default shall have
occurred and be continuing, applied as provided in Section 8.04 of the Credit Agreement and (ii) such Grantor will not adjust, settle or compromise the amount or payment of any Account, release wholly or partly any Obligor thereof, or
allow any credit or discount thereon. No Grantor will permit or consent to the subordination of its right to payment under any of the Accounts to any other indebtedness or obligations of the Obligor thereof. 

Section 10. As to Intellectual Property Collateral. (a) With respect to each item of its Intellectual Property Collateral,
each Grantor agrees to take, at its expense, all commercially reasonable steps, including, without limitation, in the U.S. Patent and Trademark Office, the U.S. Copyright Office and any other governmental authority, to (i) maintain the validity
and enforceability of such Intellectual Property Collateral and maintain such Intellectual Property Collateral in full force and effect, and (ii) pursue the registration and maintenance of each patent, trademark, or copyright registration or
application, now or hereafter included in such Intellectual Property Collateral of such Grantor, including, without limitation, the payment of required fees and taxes, the filing of responses to office actions issued by the U.S. Patent and Trademark
Office, the U.S. Copyright Office or other governmental authorities, the filing of applications for renewal or extension, the filing of affidavits under Sections 8 and 15 of the U.S. Trademark Act, the filing of divisional, continuation,
continuation-in-part, reissue and renewal applications or extensions, the payment of maintenance fees and the participation in interference, reexamination, opposition, cancellation, infringement and misappropriation proceedings, except to the extent
failure to act could not reasonably be expected to cause a Material Adverse Effect. 
 (b) Except as could not be reasonably
expected to have a Material Adverse Effect, no Grantor shall do or permit any act or knowingly omit to do any act whereby any of its Intellectual Property Collateral may lapse or become invalid or unenforceable or placed in the public domain.

 (c) Except where failure to do so could not reasonably be expected to cause a Material Adverse Effect, each Grantor shall
take all commercially reasonable steps which it or the Administrative Agent (during the continuation of an Event of Default) deems reasonable and appropriate under the circumstances to preserve and protect each item of its Intellectual Property
Collateral, including, without limitation, maintaining the quality of any and all products or services used or provided in connection with any of the Trademarks, consistent with the quality of the products and services as of the date hereof, and
taking all steps necessary to ensure that all licensed users of any of the Trademarks use such consistent standards of quality. 

(d) With respect to its Intellectual Property Collateral, each Grantor agrees to execute or otherwise authenticate an agreement, in
substantially the form set forth in Exhibit B hereto or otherwise in form and substance satisfactory to the Administrative Agent (an “Intellectual Property Security Agreement”), for recording the security interest granted
hereunder to the Administrative Agent in such Intellectual Property Collateral with the U.S. 

  
 12 

 
Patent and Trademark Office, the U.S. Copyright Office and any other governmental authorities necessary to perfect the security interest hereunder in such Intellectual Property Collateral.

 (e) Each Grantor agrees that should it obtain an ownership interest in any item of the type set forth in Section 1(q)
that is not on the date hereof a part of the Intellectual Property Collateral (“After-Acquired Intellectual Property”) (i) the provisions of this Agreement shall automatically apply thereto, and (ii) any such
After-Acquired Intellectual Property and, in the case of trademarks, the goodwill symbolized thereby, shall automatically become part of the Intellectual Property Collateral subject to the terms and conditions of this Agreement with respect thereto.
Each Grantor shall give prompt written notice to the Administrative Agent identifying the After-Acquired Intellectual Property, and such Grantor shall, concurrently with the delivery of financial statements under Section 6.01(b) of the Credit
Agreement, execute and deliver to the Administrative Agent, or otherwise authenticate, an agreement substantially in the form of Exhibit C hereto or otherwise in form and substance satisfactory to the Administrative Agent (an “IP Security
Agreement Supplement”) covering such After-Acquired Intellectual Property which IP Security Agreement Supplement shall be recorded with the U.S. Patent and Trademark Office, the U.S. Copyright Office and any other governmental
authorities necessary to perfect the security interest hereunder in such After-Acquired Intellectual Property. 
 Section 11.
Voting Rights; Dividends; Etc. (a) So long as no Event of Default shall have occurred and be continuing: 

(i) Each Grantor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Security
Collateral of such Grantor or any part thereof for any purpose other than originate Entitlement Orders with respect to any Securities Account or Commodity Account; provided however, that such Grantor will not exercise or refrain from
exercising any such right if such action would have a material adverse effect on the value of the Security Collateral or any part thereof. 
 (ii) Each Grantor shall be entitled to receive and retain any and all dividends, interest and other distributions paid in respect of the Security Collateral of such Grantor if and to the extent that the
payment thereof is not otherwise prohibited by the terms of the Loan Documents; provided, however, that any and all 
 (A) dividends, interest and other distributions paid or payable other than in cash in respect of, and instruments and other property received, receivable or otherwise distributed in respect of, or in
exchange for, any Security Collateral, 
 (B) dividends and other distributions paid or payable in cash in
respect of any Security Collateral in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus and 

(C) cash paid, payable or otherwise distributed in respect of principal of, or in redemption of, or in exchange for, any
Security Collateral 

  
 13 

 
shall be, and shall be forthwith delivered to the Administrative Agent to hold as, Security Collateral and shall, if received by such Grantor, be received in trust for the benefit of the
Administrative Agent, be segregated from the other property or funds of such Grantor and be forthwith delivered to the Administrative Agent as Security Collateral in the same form as so received (with any necessary indorsement). 

(iii) The Administrative Agent will execute and deliver (or cause to be executed and delivered) to each Grantor all such
proxies and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and other rights that it is entitled to exercise pursuant to paragraph (i) above and to receive the dividends
or interest payments that it is authorized to receive and retain pursuant to paragraph (ii) above. 
 (b) Upon the
occurrence and during the continuance of an Event of Default: 
 (i) All rights of each Grantor (x) to
exercise or refrain from exercising the voting and other consensual rights that it would otherwise be entitled to exercise pursuant to Section 11(a)(i) shall, upon notice to such Grantor by the Administrative Agent, cease and (y) to
receive the dividends, interest and other distributions that it would otherwise be authorized to receive and retain pursuant to Section 11(a)(ii) shall automatically cease, and all such rights shall thereupon become vested in the Administrative
Agent, which shall thereupon have the sole right to exercise or refrain from exercising such voting and other consensual rights and to receive and hold as Security Collateral such dividends, interest and other distributions. 

(ii) All dividends, interest and other distributions that are received by any Grantor contrary to the provisions of
paragraph (i) of this Section 11(b) shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent as Security
Collateral in the same form as so received (with any necessary indorsement). 
 (iii) The Administrative Agent
shall be authorized to exercise exclusive control over all Deposit Accounts (other than the Exempt Deposit Accounts), Securities Accounts and Commodity Accounts. 
 Section 12. Transfers and Other Liens; Additional Shares. (a) Each Grantor agrees that it will not (i) sell, assign or otherwise dispose of, or grant any option with respect to, any of
the Collateral, other than sales, assignments and other dispositions of Collateral, and options relating to Collateral, permitted under the terms of the Credit Agreement, or (ii) create or suffer to exist any Lien upon or with respect to any of
the Collateral of such Grantor except for the pledge, assignment and security interest created under this Agreement and Liens permitted under the Credit Agreement. 
 (b) Each Grantor agrees that it will (i) cause each issuer of the Pledged Equity pledged by such Grantor not to issue any Equity Interests or other securities in addition to or in substitution for
the Pledged Equity issued by such issuer, except to such Grantor, and (ii) pledge 

  
 14 

 
hereunder, immediately upon its acquisition (directly or indirectly) thereof, any and all additional Equity Interests or other securities (subject to Section 1(o)(ii) with respect to Voting
Foreign Stock). 
 Section 13. Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints
the Administrative Agent such Grantor’s attorney-in-fact, with full authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and during the continuance of an Event of
Default, in the Administrative Agent’s discretion, to take any action and to execute any instrument that the Administrative Agent may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation:

 (a) to obtain and adjust insurance required to be paid to the Administrative Agent, 

(b) to ask for, demand, collect, sue for, recover, compromise, receive and give acquittance and receipts for moneys due
and to become due under or in respect of any of the Collateral, 
 (c) to receive, indorse and collect any drafts
or other instruments, documents and Chattel Paper, in connection with clause (a) or (b) above, and 

(d) to file any claims or take any action or institute any proceedings that the Administrative Agent may deem necessary or
desirable for the collection of any of the Collateral or otherwise to enforce compliance with the terms and conditions of any Assigned Agreement or the rights of the Administrative Agent with respect to any of the Collateral. 

Section 14. Administrative Agent May Perform. If any Grantor fails to perform any agreement contained herein, the Administrative
Agent may, but without any obligation to do so and without notice, itself perform, or cause performance of, such agreement, and the expenses of the Administrative Agent incurred in connection therewith shall be payable by such Grantor under
Section 17. 
 Section 15. The Administrative Agent’s Duties. The powers conferred on the Administrative Agent
hereunder are solely to protect the Secured Parties’ interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys
actually received by it hereunder, the Administrative Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Collateral,
whether or not any Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Administrative Agent shall
be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which it accords its own property. 

  
 15 

 Section 16. Remedies. If any Event of Default shall have occurred and be continuing:

 (a) The Administrative Agent may exercise in respect of the Collateral, in addition to other rights and
remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party upon default under the UCC (whether or not the UCC applies to the affected Collateral) and also may: (i) require each Grantor to, and each
Grantor hereby agrees that it will at its expense and upon request of the Administrative Agent forthwith, assemble all or part of the Collateral as directed by the Administrative Agent and make it available to the Administrative Agent at a place and
time to be designated by the Administrative Agent that is reasonably convenient to both parties; (ii) without notice except as specified below, sell the Collateral or any part thereof in one or more parcels at public or private sale, at any of
the Administrative Agent’s offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Administrative Agent may deem commercially reasonable; (iii) occupy any premises owned or to the extent lawful
and permitted leased by any of the Grantors where the Collateral or any part thereof is assembled or located for a reasonable period in order to effectuate its rights and remedies hereunder or under law, without obligation to such Grantor in respect
of such occupation; and (iv) exercise any and all rights and remedies of any of the Grantors under or in connection with the Collateral, or otherwise in respect of the Collateral, including, without limitation, (A) any and all rights of
such Grantor to demand or otherwise require payment of any amount under, or performance of any provision of, the Assigned Agreements, the Accounts and the other Collateral, (B) withdraw, or cause or direct the withdrawal, of all funds with
respect to the Deposit Accounts (other than Exempt Deposit Accounts) and (C) exercise all other rights and remedies with respect to the Assigned Agreements, the Accounts and the other Collateral, including, without limitation, those set forth
in Section 9-607 of the UCC. Each Grantor agrees that, to the extent notice of sale shall be required by law, at least ten (10) days’ notice to such Grantor of the time and place of any public sale or the time after which any private
sale is to be made shall constitute reasonable notification. The Administrative Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Administrative Agent may adjourn any public or private
sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. 

(b) All payments received by any Grantor under or in connection with any Assigned Agreement or otherwise in respect of the
Collateral shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Administrative Agent in the same form as so received (with any necessary
indorsement). 
 (c) The Administrative Agent may, without notice to any Grantor except as required by law and at
any time or from time to time, charge, set-off and otherwise apply all or any part of the Secured Obligations against any funds held with respect to any Deposit Account that is not an Exempt Deposit Account. 

  
 16 

 (d) If the Administrative Agent shall determine to exercise its right to
sell all or any of the Security Collateral of any Grantor pursuant to this Section 16, each Grantor agrees that, upon request of the Administrative Agent, such Grantor will, at its own expense, do or cause to be done all such other acts and
things as may be necessary to make such sale of such Security Collateral or any part thereof valid and binding and in compliance with applicable law. 
 (e) The Administrative Agent is authorized, in connection with any sale of the Security Collateral pursuant to this Section 16, to deliver or otherwise disclose to any prospective purchaser of the
Security Collateral: (i) any registration statement or prospectus, and all supplements and amendments thereto; (ii) any information and projections; and (iii) any other information in its possession relating to such Security
Collateral. 
 (f) Each Grantor acknowledges the impossibility of ascertaining the amount of damages that would
be suffered by the Secured Parties by reason of the failure by such Grantor to perform any of the covenants contained in subsection (d) above and, consequently, agrees that, if such Grantor shall fail to perform any of such covenants, it will
pay, as liquidated damages and not as a penalty, an amount equal to the value of the Security Collateral on the date the Administrative Agent shall demand compliance with subsection (d) above. 

Section 17. Indemnity and Expenses. (a) Each Grantor agrees to indemnify, defend and save and hold harmless each Secured
Party and each of their Affiliates and their respective officers, directors, employees, agents and advisors (each, an “Indemnified Party”) from and against, and shall pay on demand, any and all claims, damages, losses,
liabilities and expenses (including, without limitation, reasonable fees and expenses of counsel) that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with or resulting from this
Agreement (including, without limitation, enforcement of this Agreement), except to the extent such claim, damage, loss, liability or expense is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from
such Indemnified Party’s gross negligence or willful misconduct or breach of this Agreement by the Secured Party. 
 (b)
Each Grantor will upon demand pay to the Administrative Agent the amount of any and all reasonable expenses, including, without limitation, the reasonable fees and expenses of its counsel (provided that fees and expenses of counsel shall be limited
to one counsel, plus, if necessary, one local counsel in each relevant jurisdiction and special counsel) and of any experts and agents, that the Administrative Agent may incur in connection with (i) the administration of this Agreement,
(ii) the custody, preservation, use or operation of, or the sale of, collection from or other realization upon, any of the Collateral of such Grantor, (iii) the exercise or enforcement of any of the rights of the Administrative Agent or
the other Secured Parties hereunder or (iv) the failure by such Grantor to perform or observe any of the provisions hereof. 
 Section 18. Amendments; Waivers; Additional Grantors; Etc. (a) No amendment or waiver of any provision of this Agreement, and no consent to any departure by 

  
 17 

 
any Grantor herefrom, shall in any event be effective unless the same shall be in writing and signed by the Administrative Agent, and then such waiver or consent shall be effective only in the
specific instance and for the specific purpose for which given. No failure on the part of the Administrative Agent or any other Secured Party to exercise, and no delay in exercising any right hereunder, shall operate as a waiver thereof; nor shall
any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. 
 (b) Upon the execution and delivery, or authentication, by any Person of a security agreement supplement in substantially the form of Exhibit A hereto (each a “Security Agreement
Supplement”), (i) such Person shall be referred to as an “Additional Grantor” and shall be and become a Grantor hereunder, and each reference in this Agreement and the other Loan Documents to
“Grantor” shall also mean and be a reference to such Additional Grantor, and each reference in this Agreement and the other Loan Documents to “Collateral” shall also mean and be a reference to the Collateral of such Additional
Grantor, and (ii) the supplemental schedules I through IV attached to each Security Agreement Supplement shall be incorporated into and become a part of and supplement Schedules I through IV, respectively, hereto, and the
Administrative Agent may attach such supplemental schedules to such Schedules; and each reference to such Schedules shall mean and be a reference to such Schedules as supplemented pursuant to each Security Agreement Supplement. 

Section 19. Notices, Etc. All notices and other communications provided for hereunder shall be in writing (including telegraphic,
telecopy or telex communication or facsimile transmission) and mailed, telegraphed, telecopied, telexed, faxed or delivered to it, if to any Grantor, addressed to it in care of the Borrower at the Borrower’s address specified in
Section 10.02 of the Credit Agreement, if to the Administrative Agent, at its address specified in Section 10.02 of the Credit Agreement. All such notices and other communications shall be deemed to be given or made at such
time as shall be set forth in Section 10.02 of the Credit Agreement. Delivery by telecopier of an executed counterpart of any amendment or waiver of any provision of this Agreement or of any Security Agreement Supplement or Schedule
hereto shall be effective as delivery of an original executed counterpart thereof. 
 Section 20. Continuing Security
Interest; Assignments under the Credit Agreement. This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the
Secured Obligations, (ii) the Maturity Date and (iii) the termination or expiration of all Letters of Credit, all Secured Hedge Agreements and all Secured Cash Management Agreements (b) be binding upon each Grantor, its successors and
assigns and (c) inure, together with the rights and remedies of the Administrative Agent hereunder, to the benefit of the Secured Parties and their respective successors, transferees and assigns. Without limiting the generality of the foregoing
clause (c), any Lender may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Loans owing to it and the Note or
Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender herein or otherwise, in each case as provided in Section 10.07 of the Credit
Agreement. 
 Section 21. Release; Termination. (a) Upon any sale, lease, transfer or other disposition of any item
of Collateral of any Grantor permitted by, and in accordance with, the 

  
 18 

 
terms of the Loan Documents, the Administrative Agent will, at such Grantor’s expense, execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence
the release of such item of Collateral from the assignment and security interest granted hereby; provided, however, that such Grantor shall have delivered to the Administrative Agent a written request for release describing the item of
Collateral and the terms of the sale, lease, transfer or other disposition in reasonable detail, including, without limitation, the price thereof and any expenses in connection therewith, together with a form of release for execution by the
Administrative Agent and a certificate of such Grantor to the effect that the transaction is in compliance with the Loan Documents and as to such other matters as the Administrative Agent may request. 

(b) Upon the latest of (i) the payment in full in cash of the Secured Obligations (other than contingent obligations as to which no
claim has been asserted), (ii) the Maturity Date and (iii) the termination or expiration of all Letters of Credit, all Secured Hedge Agreements and all Secured Cash Management Agreements, the pledge and security interest granted hereby
shall terminate and all rights to the Collateral shall revert to the applicable Grantor. Upon any such termination, the Administrative Agent will, at the applicable Grantor’s expense, execute and deliver to such Grantor such documents as such
Grantor shall reasonably request to evidence such termination. 
 Section 22. Execution in Counterparts. This Agreement
may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to
this Agreement by telecopier shall be effective as delivery of an original executed counterpart of this Agreement. 
 Section
23. The Mortgages. In the event that any of the Collateral hereunder is also subject to a valid and enforceable Lien under the terms of any Mortgage and the terms of such Mortgage are inconsistent with the terms of this Agreement, then with
respect to such Collateral, the terms of such Mortgage shall be controlling in the case of fixtures and real estate leases, letting and licenses of, and contracts and agreements relating to the lease of, real property, and the terms of this
Agreement shall be controlling in the case of all other Collateral. 
 Section 24. Governing Law. This Agreement shall be
governed by, and construed in accordance with, the laws of the State of New York. 

  
 19 

 IN WITNESS WHEREOF, each Grantor has caused this Agreement to be duly executed and delivered
by its officer thereunto duly authorized as of the date first above written. 
  

			
	MICHAEL FOODS GROUP, INC.
		
	By	 	/s/ Mark W. Westphal
	 Name:
	 	Mark W. Westphal
	Title: 	 	Chief Financial Officer and Senior Vice President
	
	 Address for Notices:

	 301 Carlson Parkway, Suite 400

	 Minnetonka, Minnesota 55305

	 Attn:
	 	Mark D. Witmer

  

			
	MFI MIDCO CORPORATION
		
	By	 	/s/ Mark W. Westphal
	Name:	 	Mark W. Westphal
	Title: 	 	Chief Financial Officer and Senior Vice President
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

  

			
	MICHAEL FOODS, INC.
		
	By	 	/s/ Mark W. Westphal
	Name:	 	Mark W. Westphal
	Title: 	 	Chief Financial Officer and Senior Vice President
	
	Address for Notices:
	301 Carlson Parkway, Suite 400 
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

  

 
			
	 MICHAEL FOODS OF DELAWARE, INC.

		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

  

			
	CASA TRUCKING, INC.
		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

  

			
	CRYSTAL FARMS REFRIGERATED DISTRIBUTION COMPANY
		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

 
			
	MINNESOTA PRODUCTS, INC.
		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

  

			
	NORTHERN STAR CO.
		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

  

			
	PAPETTI’S HYGRADE EGG PRODUCTS, INC.
		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

 
			
	M.G. WALDBAUM COMPANY
		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

  

			
	FARM FRESH FOODS, INC.
		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	3840 N. Civic Center Drive “B”
	North Las Vegas, NV 89030
	Attn:	 	Mark D. Witmer

  

			
	WFC, INC.
		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	450 North CP Avenue
	Lake Mills, WI 53551
	Attn:	 	Mark D. Witmer

 
			
	WISCO FARM COOPERATIVE
		
	By	 	/s/ Mark W. Westphal
	Name:	 	 Mark W. Westphal

	Title:	 	Vice President - Finance
	
	Address for Notices:
	450 North CP Avenue
	Lake Mills, WI 53551
	Attn:	 	Mark D. Witmer

  

			
	ABBOTSFORD FARMS, INC.
		
	By	 	/s/ Mark W. Westphal
	Name:	 	Mark W. Westphal
	Title:	 	Chief Financial Officer
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

  

			
	MFI FOOD ASIA, LLC
		
	By	 	/s/ Mark W. Westphal
	Name:	 	Mark W. Westphal
	Title:	 	 Vice President - Finance

	
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:	 	Mark D. Witmer

			
	MFI INTERNATIONAL, INC.
		
	By	 	/s/ Mark W. Westphal
	Name:	 	Mark W. Westphal
	Title:	 	Vice President - Finance
	
	Address for Notices:
	301 Carlson Parkway, Suite 400
	Minnetonka, Minnesota 55305
	Attn:	 	Mark D. Witmer

 Schedule I to the 

Security Agreement 
 LOCATION, CHIEF EXECUTIVE OFFICE, PLACE WHERE AGREEMENTS ARE MAINTAINED, TYPE OF ORGANIZATION, JURISDICTION OF ORGANIZATION AND ORGANIZATIONAL IDENTIFICATION NUMBER 

 

									
	 Grantor
	 	 Chief

Executive

Office
	 	 Type of

Organization
	 	 Jurisdiction of

Organization
	 	 Organizational

I.D. No.

 Schedule II to the 

Security Agreement 
 PLEDGED EQUITY 
  

													
	 Grantor
	 	 Issuer
	 	 Class of Equity
Interest
	  	Par Value	  	Certificate
No(s)	  	Number
of Shares	  	Percentage
of
Outstanding
Shares

 Schedule III to the 

Security Agreement 
 INTELLECTUAL PROPERTY 
 I. Patents 

 

													
	 Grantor
	 	 Patent
Titles
	 	 Country
	  	 Patent No.
	  	 Applic. No.
	  	 Filing Date
	  	 Issue Date

II. Domain Names and Trademarks 
  

															
	 Grantor
	 	 Domain Name/
Mark
	 	 Country
	  	 Mark
	  	 Reg. No.
	  	Applic. No.	  	Filing Date	  	Issue Date

 III. Trade Names 
  

	
	 Names

 IV. Copyrights 
  

															
	 Grantor
	 	 Title of Work
	 	 Country
	  	 Title
	  	 Reg. No.
	  	 Applic. No.
	  	 Filing Date
	  	 Issue Date

V. IP Agreements 
  

			
	 Grantor
	 	 IP Agreements

 Schedule IV to the 

Security Agreement 
 COMMERCIAL TORT CLAIMS 
 [Describe nature of claim(s)-see Comment 5 to UCC
Section 9-108] 

 Exhibit A to the 
 Security Agreement 
 FORM OF SECURITY AGREEMENT SUPPLEMENT

 [Date of Security Agreement Supplement] 
 Bank of America, N.A., 
     as the Administrative Agent for 

    the Secured Parties referred to in the 
     Credit Agreement referred to below 

			
		
	 	 	 
	 	 	 
	Attn:	 	 

 MICHAEL FOODS GROUP, INC.

 Ladies and Gentlemen: 
 Reference is made to (i) the Credit Agreement dated as of June 29, 2010 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Michael Foods Group, Inc. (f/k/a M-Foods Holdings, Inc.), a Delaware corporation, as the Borrower, MFI Midco Corporation, a Delaware corporation (“Holdings”), the Lenders party thereto, Bank of
America, N.A., as the Swing Line Lender, the L/C Issuer and the Administrative Agent (together with any successor administrative agent, the “Administrative Agent”), and the other Agents named therein, and (ii) the
Security Agreement dated June 29, 2010 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”) made by the Grantors from time to time party thereto in favor of
the Administrative Agent for the Secured Parties. Terms defined in the Credit Agreement or the Security Agreement and not otherwise defined herein are used herein as defined in the Credit Agreement or the Security Agreement. 

SECTION 1. Grant of Security. The undersigned hereby grants to the Administrative Agent, for the ratable benefit of the Secured
Parties, a security interest in, all of its right, title and interest in and to all of the Collateral of the undersigned, whether now owned or hereafter acquired by the undersigned, wherever located and whether now or hereafter existing or arising,
including, without limitation, the property and assets of the undersigned set forth on the attached supplemental schedules to the Schedules to the Security Agreement. 
 SECTION 2. Security for Obligations. The grant of a security interest in, the Collateral by the undersigned under this Security Agreement Supplement and the Security Agreement secures the payment
of all Obligations of the undersigned now or hereafter existing under or in respect of the Loan Documents (as such Loan Documents may be amended, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time
(including any increases of the principal amount outstanding thereunder)), whether direct or 

 
indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses or
otherwise. 
 SECTION 3. Supplements to Security Agreement Schedules. The undersigned has attached hereto supplemental
Schedules I through IV to Schedules I through IV, respectively, to the Security Agreement, and the undersigned hereby certifies, as of the date first above written, that such supplemental schedules have been prepared by the undersigned in
substantially the form of the equivalent Schedules to the Security Agreement and are complete and correct in all material respects. 
 SECTION 4. Representations and Warranties. The undersigned hereby makes each representation and warranty set forth in Section 6 of the Security Agreement with respect to itself (as
supplemented by the attached supplemental schedules) as of the date hereof. 
 SECTION 5. Obligations Under the Security
Agreement. The undersigned hereby agrees, as of the date first above written, to be bound as a Grantor by all of the terms and provisions of the Security Agreement to the same extent as each of the other Grantors. The undersigned further agrees,
as of the date first above written, that each reference in the Security Agreement to an “Additional Grantor” or a “Grantor” shall also mean and be a reference to the undersigned. 

SECTION 6. Governing Law. This Security Agreement Supplement shall be governed by, and construed in accordance with, the laws of
the State of New York. 
  

					
	Very truly yours,
	
	[NAME OF ADDITIONAL GRANTOR]
		
	By	 	 
		 	Title:	 	

  

			
		 	Address for notices:
		 	 
		 	 
		 	 

  
 2 

 Exhibit B to the 
 Security Agreement 
 FORM OF INTELLECTUAL PROPERTY SECURITY AGREEMENT

 This INTELLECTUAL PROPERTY SECURITY AGREEMENT (as amended, amended and restated, supplemented or otherwise modified from
time to time, the “IP Security Agreement”) dated June 29, 2010, is made by the Persons listed on the signature pages hereof (collectively, the “Grantors”) in favor of Bank of America, N.A., as
administrative agent (the “Administrative Agent”) for the Secured Parties (as defined in the Credit Agreement referred to below). 
 WHEREAS, Michael Foods Group, Inc. (f/k/a M-Foods Holdings, Inc.), a Delaware corporation, has entered into a Credit Agreement dated as of June 29, 2010 (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), with MFI Midco Corporation, a Delaware corporation (“Holdings”), Bank of America, N.A., as the Swing Line Lender, the L/C
Issuer and the Administrative Agent, the other Agents named therein and the Lenders party thereto. Terms defined in the Credit Agreement and not otherwise defined herein are used herein as defined in the Credit Agreement. 

WHEREAS, as a condition precedent to the making of the Loans and the issuance of Letters of Credit by the Lenders under the Credit
Agreement, the entry into Secured Hedge Agreements by the Hedge Banks from time to time and the entry into Secured Cash Management Agreements by the Cash Management Banks from time to time, each Grantor has executed and delivered that certain
Security Agreement dated June 29, 2010 made by the Grantors to the Administrative Agent (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”). 

WHEREAS, under the terms of the Security Agreement, the Grantors have granted to the Administrative Agent, for the ratable benefit of the
Secured Parties, a security interest in, among other property, certain intellectual property of the Grantors, and have agreed as a condition thereof to execute this IP Security Agreement for recording with the U.S. Patent and Trademark Office, the
United States Copyright Office and any other appropriate governmental authorities. 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, each Grantor agrees as follows: 
 SECTION 1.
Grant of Security. Each Grantor hereby grants to the Administrative Agent for the ratable benefit of the Secured Parties a security interest in all of such Grantor’s right, title and interest in and to the following (the
“Collateral”): 
 (i) the patents and patent applications set forth in Schedule A hereto
(the “Patents”); 
 (ii) the trademark and service mark registrations and applications
set forth in Schedule B hereto (provided that no security interest shall be granted in 

 
United States intent-to-use trademark applications to the extent that, and solely during the period in which, the grant of a security interest therein would impair the validity or enforceability
of such intent-to-use trademark applications under applicable federal law), together with the goodwill symbolized thereby (the “Trademarks”); 

(iii) all copyrights, whether registered or unregistered, now owned or hereafter acquired by such Grantor, including,
without limitation, the copyright registrations and applications and exclusive copyright licenses set forth in Schedule C hereto (the “Copyrights”); 

(iv) all reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations of any of the
foregoing, all rights in the foregoing provided by international treaties or conventions, all rights corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto;

 (v) any and all claims for damages and injunctive relief for past, present and future infringement, dilution,
misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, such damages; and 

(vi) any and all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with
respect to, and supporting obligations relating to, any and all of the Collateral of or arising from any of the foregoing. 

provided that notwithstanding anything to the contrary contained in the foregoing clauses (i) through (vi), the security interest
created hereby shall not extend to, and the term “Collateral,” shall not include any lease, license or other agreement to the extent that a grant of a security interest therein would violate or invalidate such lease, license, or agreement,
or create a right of termination in favor of any other party thereto (other than any Grantor), in each case to the extent not rendered unenforceable pursuant to applicable provisions of the UCC or other applicable law, provided, that the Collateral
includes proceeds and receivables of any property excluded under the foregoing proviso, the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibition. 

SECTION 2. Security for Obligations. The grant of a security interest in, the Collateral by each Grantor under this IP Security
Agreement secures the payment of all Obligations of such Grantor now or hereafter existing under or in respect of the Loan Documents (as such Loan Documents may be amended, amended and restated, supplemented, replaced, refinanced or otherwise
modified from time to time (including any increases of the principal amount outstanding thereunder)), whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees,
indemnifications, contract causes of action, costs, expenses or otherwise. 

  
 2 

 SECTION 3. Recordation. Each Grantor authorizes and requests that the Register of
Copyrights, the Commissioner for Patents and the Commissioner for Trademarks and any other applicable government officer record this IP Security Agreement. 
 SECTION 4. Execution in Counterparts. This IP Security Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which
taken together shall constitute one and the same agreement. 
 SECTION 5. Grants, Rights and Remedies. This IP Security
Agreement has been entered into in conjunction with the provisions of the Security Agreement. Each Grantor does hereby acknowledge and confirm that the grant of the security interest hereunder to, and the rights and remedies of, the Administrative
Agent with respect to the Collateral are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated herein by reference as if fully set forth herein. 

  
 3 

 SECTION 6. Governing Law. This IP Security Agreement shall be governed by, and
construed in accordance with, the laws of the State of New York. 
 IN WITNESS WHEREOF, each Grantor has caused this IP Security
Agreement to be duly executed and delivered by its officer thereunto duly authorized as of the date first above written. 
  

					
	MICHAEL FOODS GROUP, INC.
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway,

Suite 400 Minnetonka, Minnesota 55305

	Attn:

  

					
	MFI MIDCO CORPORATION
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:

  

					
	MICHAEL FOODS, INC.
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:

 
					
	MICHAEL FOODS OF DELAWARE, INC.
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:

  

					
	CASA TRUCKING, INC.
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:

  

					
	CRYSTAL FARMS REFRIGERATED DISTRIBUTION COMPANY
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:

  

					
	MINNESOTA PRODUCTS, INC.
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:

 
					
	NORTHERN STAR CO.
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:

  

					
	PAPETTI’S HYGRADE EGG PRODUCTS, INC.
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:

  

					
	M.G. WALDBAUM COMPANY
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

	Attn:

  

					
	FARM FRESH FOODS, INC.
		
	By	 	 
		 	Title:	 	

  

			
	Address for Notices:
	 3840 N. Civic Center Drive “B”
 North Las Vegas, NV 89030

	Attn:

 
					
	WFC, INC.
		
	By	 	 
		 	Title:	 	
	
	 Address for Notices:
 450 North CP Avenue
 Lake Mills, WI 53551
 Attn:

	
	WISCO FARM COOPERATIVE
		
	By	 	 
		 	Title:	 	
	
	 Address for Notices:
 450 North CP Avenue
 Lake Mills, WI 53551
 Attn:

	
	ABBOTSFORD FARMS, INC.
		
	By	 	 
		 	Title:	 	
	
	 Address for Notices:
 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

Attn:

	
	MFI FOOD ASIA, LLC
		
	By	 	 
		 	Title:	 	
	
	 Address for Notices:
 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

Attn:

 
					
	MFI INTERNATIONAL, INC.
		
	By	 	 
		 	Title:	 	
	
	 Address for Notices:
 301 Carlson Parkway, Suite 400
 Minnetonka, Minnesota 55305

Attn:

 Exhibit C to the 
 Security Agreement 
 FORM OF INTELLECTUAL PROPERTY SECURITY AGREEMENT
SUPPLEMENT 
 This INTELLECTUAL PROPERTY SECURITY AGREEMENT SUPPLEMENT (this “IP Security Agreement
Supplement”) dated June 29, 2010, is made by the Person listed on the signature page hereof (the “Grantor”) in favor of Bank of America N.A., as administrative agent (the “Administrative
Agent”) for the Secured Parties (as defined in the Credit Agreement referred to below). 
 WHEREAS, Michael Foods
Group, Inc. (f/k/a M-Foods Holdings, Inc.), a Delaware corporation, has entered into a Credit Agreement dated as of June 29, 2010 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), with MFI Midco Corporation, a Delaware corporation (“Holdings”), Bank of America, N.A., as the Swing Line Lender, the L/C Issuer and the Administrative Agent, the other Agents named therein and the
Lenders party thereto. Terms defined in the Credit Agreement and not otherwise defined herein are used herein as defined in the Credit Agreement. 
 WHEREAS, pursuant to the Credit Agreement, the Grantor and certain other Persons have executed and delivered that certain Security Agreement dated June 29, 2010, made by the Grantor and such other
Persons to the Administrative Agent (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”) and that certain Intellectual Property Security Agreement dated
June 29, 2010 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “IP Security Agreement”). 
 WHEREAS, under the terms of the Security Agreement, the Grantor has agreed to grant to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in any after-acquired
intellectual property collateral of the Grantor and has agreed in connection therewith to execute this IP Security Agreement Supplement for recording with the U.S. Patent and Trademark Office, the United States Copyright Office and other
governmental authorities. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Grantor agrees as follows: 
 SECTION 1. Grant of Security. Each Grantor hereby grants to the
Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in all of such Grantor’s right, title and interest in and to the following (the “Additional Collateral”): 

(i) the patents and patent applications set forth in Schedule A hereto (the “Patents”);

 (ii) the trademark and service mark registrations and applications set forth in Schedule B hereto
(provided that no security interest shall be granted in United States intent-to-use trademark applications to the extent that, and solely 

 
during the period in which, the grant of a security interest therein would impair the validity or enforceability of such intent-to-use trademark applications under applicable federal law),
together with the goodwill symbolized thereby (the “Trademarks”); 
 (iii) the copyright
registrations and applications and exclusive copyright licenses set forth in Schedule C hereto (the “Copyrights”); 
 (iv) all reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations of any of the foregoing, all rights in the foregoing provided by international treaties or
conventions, all rights corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto; 

(v) all any and all claims for damages and injunctive relief for past, present and future infringement, dilution,
misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, such damages; and 

(vi) any and all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with
respect to, and supporting obligations relating to, any and all of the foregoing or arising from any of the foregoing. 
 provided that
notwithstanding anything to the contrary contained in the foregoing clauses (i) through (vi), the security interest created hereby shall not extend to, and the term “Additional Collateral,” shall not include any lease, license or
other agreement to the extent that a grant of a security interest therein would violate or invalidate such lease, license, or agreement, or create a right of termination in favor of any other party thereto (other than any Grantor), in each case to
the extent not rendered unenforceable pursuant to applicable provisions of the UCC or other applicable law, provided, that the Additional Collateral includes proceeds and receivables of any property excluded under the foregoing proviso, the
assignment of which is expressly deemed effective under the UCC notwithstanding such prohibition. 
 SECTION 2.
Supplement to Security Agreement. Schedule III to the Security Agreement is, effective as of the date hereof, hereby supplemented to add to such Schedule the Additional Collateral. 

SECTION 3. Security for Obligations. The grant of a security interest in the Additional Collateral by the Grantor under this IP
Security Agreement Supplement secures the payment of all Obligations of the Grantor now or hereafter existing under or in respect of the Loan Documents (as such Loan Documents may be amended, amended and restated, supplemented, replaced, refinanced
or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder)), whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums,
penalties, fees, indemnifications, contract causes of action, costs, expenses or otherwise. 

 SECTION 4. Recordation. The Grantor authorizes and requests that the Register of
Copyrights, the Commissioner for Patents and the Commissioner for Trademarks and any other applicable government officer to record this IP Security Agreement Supplement. 
 SECTION 5. Grants, Rights and Remedies. This IP Security Agreement Supplement has been entered into in conjunction with the provisions of the Security Agreement. The Grantor does hereby acknowledge
and confirm that the grant of the security interest hereunder to, and the rights and remedies of, the Administrative Agent with respect to the Additional Collateral are more fully set forth in the Security Agreement, the terms and provisions of
which are incorporated herein by reference as if fully set forth herein. 
 SECTION 6. Governing Law. This IP Security
Agreement Supplement shall be governed by, and construed in accordance with, the laws of the State of New York. 
 IN WITNESS
WHEREOF, the Grantor has caused this IP Security Agreement Supplement to be duly executed and delivered by its officer thereunto duly authorized as of the date first above written. 

 

					
	[NAME OF GRANTOR]
		
	By	 	 
		 	Name:	 	
		 	Title:	 	
	
	Address for Notices:

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