Document:

EXHIBIT 10.1

      Execution Version

    

     

    

    
      SECOND AMENDMENT TO FIVE-YEAR REVOLVING CREDIT AGREEMENT

      

      

      This SECOND AMENDMENT TO FIVE-YEAR REVOLVING CREDIT AGREEMENT (this “Amendment”), dated as of June 7, 2019, is by and among SOUTH JERSEY GAS COMPANY, a New Jersey corporation (the “Original Borrower”), SJI UTILITIES, INC., a New
        Jersey corporation (“SJIU”), the Lenders signatory hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of
        America, as administrative agent (in such capacity, the “Administrative Agent”).  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement (as defined below).

      

      

      W I T N E S S E T H

      

      

      WHEREAS, the Original Borrower, the Lenders and the Administrative Agent are parties to that certain Five-Year Revolving Credit Agreement dated as of August
        14, 2017 (as amended by that certain First Amendment to Five-Year Revolving Credit Agreement dated June 14, 2018, the “Existing Credit Agreement”);

      

      

      WHEREAS, SJIU owns 100% of the issued and outstanding common stock of the Original Borrower; and

      

      

      WHEREAS, the Original Borrower and SJIU (each a “Borrower” and collectively, the “Borrowers”) desire to (i) amend the Existing Credit Agreement
        in order for SJIU to join the Credit Agreement and other Loan Documents as a “Borrower” and (ii) make certain other amendments to the Existing Credit Agreement and the other Loan Documents in connection therewith.  The Lenders and the
        Administrative Agent have agreed to the joinder of SJIU as a Borrower and to make such other amendments to the Existing Credit Agreement and the other Loan Documents on the terms and conditions set forth herein (the Existing Credit Agreement as
        amended by this Amendment, the “Credit Agreement”).

      

      

      NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable
        consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

      

      

      ARTICLE I

      

      

      AMENDMENTS TO CREDIT AGREEMENT

      

      

      1.1         Joinder.  Effective as of the Second Amendment Effective Date (as defined below), each party hereto agrees that SJIU shall be deemed to
        be a party to and a “Borrower” under the Credit Agreement and shall be bound by all of the terms and provisions applicable to a “Borrower” under the Credit Agreement and the other Loan Documents.  Without limiting the foregoing, SJIU hereby agrees
        that, by its execution of this Amendment, it becomes a party to the Credit Agreement as a “Borrower” thereunder and expressly assumes all of the obligations of a “Borrower” thereunder.  Each party hereto further agrees that all references in the
        Credit Agreement and the other Loan Documents to the “Borrower” shall be deemed amended to include SJIU for all purposes.

      

      

      
        
          

      

      
      1.2          Amendments to Credit Agreement.  Effective as of the Second Amendment Effective Date, the Existing Credit Agreement is hereby amended to
        delete the stricken text (indicated textually in the same manner as the following example:  stricken text) and to add the bold and double-underlined text (indicated textually in the same
        manner as the following example:  double underlined text) as set forth in Annex A attached hereto.

      

      

      ARTICLE II

      

      

      CONDITIONS TO EFFECTIVENESS

      

      

      This Amendment shall become effective as of the date (such date being referred to as the “Second Amendment Effective Date”) when, and only when, each of the following conditions precedent
        shall have been satisfied:

      

      

      2.1          Execution of Second Amendment.  The Administrative Agent shall have received duly executed counterparts of this Amendment from each
        Borrower and each Lender.

      

      

      2.2         Secretary’s Certificates.  The Administrative Agent shall have received (i) a certificate of the secretary or assistant secretary of
        SJIU, dated the Second Amendment Effective Date and in form and substance reasonably satisfactory to the Administrative Agent, certifying (A) that attached thereto is a true and complete copy of the certificate of incorporation and all amendments
        thereto of SJIU, certified as of a recent date by the appropriate Governmental Authority in its jurisdiction of organization, (B) that attached thereto is a true and complete copy of the by-laws of SJIU in effect on the Second Amendment Effective
        Date and at all times since a date prior to the date of the resolutions described in clause (C) below, (C) that attached thereto is a true and complete copy of resolutions or consents, as applicable, duly adopted by the board of directors of SJIU
        authorizing the execution, delivery and performance of this Amendment and the other Loan Documents and that such resolutions have not been modified, rescinded or amended and are in full force and effect, (D) that the organizational documents of
        SJIU have not been amended since the date of the last amendment thereto shown on the certificate of good standing attached thereto, (E) as to the incumbency and specimen signature of each officer of SJIU executing this Amendment and any other
        document delivered in connection herewith on its behalf and (F) that attached thereto is a true and complete copy of all Governmental Actions, if any, required in connection with the execution, delivery and performance of this Amendment and the
        other Loan Documents; and (ii) a certificate of another officer as to the incumbency and specimen signature of such secretary or assistant secretary executing the certificate pursuant to (i) above.

      

      

      2.3       Officer’s Certificate.  The Administrative Agent shall have received a certificate, signed by the chief executive officer or chief
        financial officer of each Borrower, in form and substance reasonably satisfactory to the Administrative Agent, certifying that (A) all representations and warranties of such Borrower contained in the Credit Agreement and the other Loan Documents
        (including the representations and warranties set forth in Section 3.2 hereof) are true and correct as of the Second Amendment Effective Date after giving effect to this Amendment (except to
        the extent any such representation or warranty is expressly stated to have been made as of a specific date, in which case such representation or warranty shall be true and correct as of such date), and (B) no Default or Event of Default with
        respect to such Borrower has occurred and is continuing, both immediately before and after giving effect to this Amendment.

      

      

      
        2

        
          

      

      2.4        Fees and Expenses.  The Borrowers shall have paid all reasonable costs and expenses of the Administrative Agent in connection with the
        preparation, execution and delivery of this Amendment, including without limitation the reasonable fees and expenses of the Administrative Agent’s legal counsel.

      

      

      2.5         Amended and Restated Notes.  Each Lender requesting the same shall have received an amended and restated Note executed by the Borrowers.

      

      

      2.6         Opinion.  The Administrative Agent shall have received the legal opinion of Cozen O’Connor, counsel to the Borrowers, as to such matters
        as the Administrative Agent and the Lenders may reasonably request, addressed to the Administrative Agent and the Lenders in form and substance reasonably acceptable to the Administrative Agent.

      

      

      2.7         Financial Information.  The Administrative Agent shall have received the financial statements referred to in Section 5.01(g) of the
        Credit Agreement.

      

      

      2.8         Patriot Act Information.  The Administrative Agent and the Lenders shall have received any information necessary for the Administrative
        Agent or any Lender to verify the identity of SJIU as required by the Patriot Act or other “know your customer” and anti-money laundering rules and regulations.

      

      

      ARTICLE III

      

      

      MISCELLANEOUS

      

      

      3.1        Amended Terms.  On and after the Second Amendment Effective Date, all references to the Credit Agreement in each of the Loan Documents
        shall hereafter mean the Credit Agreement as amended by this Amendment.  Except as specifically amended hereby or otherwise agreed, the Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its
        terms.

      

      

      3.2         Representations and Warranties.  To induce the other parties hereto to enter into this Amendment, each Borrower represents and warrants
        to the Administrative Agent and each Lender, as of the date hereof, as follows:

      

      

      (a)          Such Borrower has taken all necessary action to authorize the execution, delivery and performance of this Amendment.

      

      

      (b)        This Amendment has been duly executed and delivered by such Borrower and constitutes such Borrower’s legal, valid and binding obligation, enforceable in accordance with its terms, except
        as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether
        such enforceability is considered in a proceeding at law or in equity).

      

      

      (c)          No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection with the
        execution, delivery or performance by such Borrower of this Amendment.

      

      

      
        3

        
          

      

      (d)          The representations and warranties set forth in Article V of the Credit Agreement and in any other Loan Document are true and correct in all material respects with respect to such
        Borrower as of the date hereof (without duplication of any materiality qualifiers therein and except for those which expressly relate to an earlier date).

      

      

      (e)          After giving effect to this Amendment, no event has occurred and is continuing which constitutes a Default or an Event of Default with respect to such Borrower.

      

      

      (f)          The Obligations are not reduced or, other than as expressly set forth in Annex A hereto, modified by this Amendment and are not subject to any offsets, defenses or
        counterclaims.

      

      

      3.3         Reaffirmation of Obligations.  The Credit Agreement and each of the other Loan Documents, as specifically amended by this Amendment, are
        and shall continue to be in full force and effect and each Borrower hereby ratifies the Credit Agreement and each other Loan Document to which such Borrower is a party and acknowledges and reaffirms (a) that it is bound by all terms of the Credit
        Agreement and the other Loan Documents applicable to it and (b) that it is responsible for the observance and full performance of its Obligations.

      

      

      3.4         Loan Document.  This Amendment shall constitute a Loan Document under the terms of the Credit Agreement.

      

      

      3.5         [Reserved].

      

      

      3.6         Further Assurances.  Each Borrower agrees to promptly take such action, upon the request of the Administrative Agent, as is reasonably
        necessary to carry out the intent of this Amendment.

      

      

      3.7         Entirety.  This Amendment, together with the other Loan Documents, embody the entire agreement among the parties hereto and supersede all
        prior agreements and understandings, oral or written, if any, relating to the subject matter hereof.

      

      

      3.8         Counterparts.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an
        original, but all of which shall constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment or any other document required to be delivered hereunder, by fax transmission or e-mail transmission
        (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Amendment.  Without limiting the foregoing, upon the request of any party, such fax transmission or e-mail transmission shall be promptly followed by
        such manually executed counterpart.

      

      

      3.9       No Actions, Claims, Etc.  As of the date hereof, each Borrower hereby acknowledges and confirms that it has no knowledge of any actions,
        causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Administrative Agent, the Lenders, or the Administrative Agent’s or the Lenders’ respective officers, employees,
        representatives, agents, counsel or directors arising from any action by such Persons, or failure of such Persons to act under the Credit Agreement on or prior to the date hereof.

      

      

      
        4

        
          

      

      3.10       GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
          WITH THE LAWS OF THE STATE OF NEW YORK.

      

      

      3.11       Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective
        successors and assigns.

      

      

      3.12       Submission to Jurisdiction; Waivers; Waiver of Jury Trial.  The jurisdiction, service of process and waiver of jury trial provisions set
        forth in Sections 9.13 and 9.15 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis.

      

      

      3.13       No Waivers.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a
        waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.

      

      

      [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

      

      

      
        5

        
          

      

      IN WITNESS WHEREOF the parties hereto have caused this Second Amendment to Five-Year Revolving Credit Agreement to be duly executed on the date first above written.

      

      

      	 	
              ORIGINAL BORROWER:

            	 
	 	 	 	 	 
	 	
              SOUTH JERSEY GAS COMPANY

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Ann T. Anthony

            	 
	 	 	
              Name: 

              

            	Ann T. Anthony	 
	 	 	
              Title: 

              

            	Treasurer	 

      

      

      	 	
              SJIU:

            	 
	 	 	 	 	 
	 	
              SJI UTILITIES, INC.

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Ann T. Anthony

            	 
	 	 	
              Name: 

              

            	Ann T. Anthony	 
	 	 	
              Title: 

              

            	Principal Financial Officer	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, as Swingline Lender, as an Issuing Lender and as a Lender

            
	 	 
	 	
              By:

            	
              /s/ Jesse Tannuzzo

            	 
	 	
              

              

            	Name: 	Jesse Tannuzzo	 
	 	
              

              

            	Title:   	Vice President	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              BANK OF AMERICA, N.A., as an Issuing Lender and as a Lender

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Richard R. Powell

            	 
	 	 	
              Name:

            	
              Richard R. Powell

            	 
	 	 	
              Title:

            	
              Authorized Officer

            	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              JPMORGAN CHASE BANK, N.A., as an Issuing Lender and as a Lender

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Justin Martin

            	 
	 	 	
              Name:

            	
              Justin Martin

            	 
	 	 	
              Title:

            	
              Authorized Officer

            	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              PNC BANK, NATIONAL ASSOCIATION, as an Issuing Lender and as a Lender

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Alex Rolfe

            	 
	 	 	
              Name:

            	
              Alex Rolfe

            	 
	 	 	
              Title:

            	
              Vice President

            	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              CITIZENS BANK, N.A., as a Lender

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Hassan Shakeel

            	 
	 	 	
              Name:

            	
              Hassan Shakeel

            	 
	 	 	
              Title:

            	
              Vice President

            	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              TD BANK, N.A., as an Issuing Lender and as a Lender

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Vijay Prasad

            	 
	 	 	
              Name:

            	
              Vijay Prasad

            	 
	 	 	
              Title:

            	
              Senior Vice President

            	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              BRANCH BANKING AND TRUST COMPANY, as a Lender

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Tim Wiegand

            	 
	 	 	
              Name:

            	
              Tim Wiegand

            	 
	 	 	
              Title:

            	
              Senior Vice President

            	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              KEYBANK NATIONAL ASSOCIATION, as a Lender

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Renee M. Bonnell

            	 
	 	 	
              Name:

            	
              Renee M. Bonnell

            	 
	 	 	
              Title:

            	
              Senior Vice President

            	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              MANUFACTURERS AND TRADERS TRUST COMPANY, as a Lender

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Brooks W. Thropp

            	 
	 	 	
              Name:

            	
              Brooks W. Thropp

            	 
	 	 	
              Title:

            	
              Administrative V.P.

            	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      	 	
              PROVIDENT BANK, as a Lender

            
	 	 	 	 	 
	 	
              By:

            	
              /s/ Vincent S. Vita

            	 
	 	 	
              Name:

            	
              Vincent S. Vita

            	 
	 	 	
              Title:

            	
              Senior Vice President

            	 

      

      

      
        SIGNATURE PAGE TO

        SECOND AMENDMENT TO CREDIT AGREEMENT

        

        

      

      
        
          

      

      
          ANNEX A

          

        

      ANNEX A

      AMENNDED CREDIT AGREEMENT

      

      

      See attached.

      

      

      
        
          

      

      
        ANNEX A

        As amended by the First Amendment to Five-Year Revolving Credit Agreement, dated June 14, 2018 and the Second Amendment to Five-Year Revolving Credit Agreement, dated June 7, 2019

        

        

        Deal CUSIP Number: 83851QAJ7

        Revolving Loan CUSIP Number: 83851QAK4

      

      

      

      
        
          
FIVE-YEAR REVOLVING

      

      CREDIT AGREEMENT

      

      

      Dated as of August 14, 2017

      

      

      among

      

      

      SOUTH JERSEY GAS COMPANY,

      

      

      and

      

      

      SJI UTILITIES, INC.,

      as Borrowers

      

      

      and

      

      

      THE SEVERAL LENDERS

      FROM TIME TO TIME PARTY HERETO,

      as Lenders,

      

      

      and

      

      

      WELLS FARGO BANK, NATIONAL ASSOCIATION,

      as a Lender, Swingline Lender, Issuing Lender and Administrative Agent

      

      

      and

      

      

      BANK OF AMERICA, N.A.,

      JP MORGAN CHASE BANK, N.A. AND PNC BANK, NATIONAL ASSOCIATION,

      as Co-Syndication Agents and Issuing Lenders

      

      

      and

      

      

      CITIZENS BANK OF PENNSYLVANIA,

      as Documentation Agent

      

      

      Arranged by:

      

      

      WELLS FARGO SECURITIES, LLC, J.P. MORGAN CHASE BANK, N.A., BOFA SECURITIES, INC., AND PNC CAPITAL MARKETS LLC

      
        as Joint Lead Arrangers and Joint Book Runners

        

        

      

      
        
          

      

      
      
        TABLE OF CONTENTS

      

       

      

      	 	
              Page

            
	 	 
	
              ARTICLE I         DEFINITIONS

            	
              1

            
	 	 	 	 
	 	
              SECTION 1.01

            	
              Certain Defined Terms

            	
              1

            
	 	
              SECTION 1.02

            	
              Computation of Time Periods

            	
              25

            
	 	
              SECTION 1.03

            	
              Accounting Terms and Determinations

            	
              26

            
	 	
              SECTION 1.04

            	
              Terminology

            	
              26

            
	 	
              SECTION 1.05

            	
              Use of Defined Terms

            	
              27

            
	 	 	 	 
	
              ARTICLE II        LOANS

            	
              27

            
	 	 	 	 
	 	
              SECTION 2.01

            	
              Revolving Loans

            	
              27

            
	 	
              SECTION 2.02

            	
              Swingline Loans

            	
              28

            
	 	
              SECTION 2.03

            	
              Procedure for Advances of Loans

            	30
	 	
              SECTION 2.04

            	
              [Reserved]

            	
              32

            
	 	
              SECTION 2.05

            	
              Fees

            	
              32

            
	 	
              SECTION 2.06

            	
              Reduction of Commitments

            	32
	 	
              SECTION 2.07

            	
              Prepayment of Loans

            	33
	 	
              SECTION 2.08

            	
              Increase in Commitment

            	35
	 	
              SECTION 2.09

            	
              Evidence of Debt; Notes

            	
              36

            
	 	
              SECTION 2.10

            	
              Interest Rates

            	
              37

            
	 	
              SECTION 2.11

            	
              Additional Interest on LIBOR Rate Loans

            	
              39

            
	 	
              SECTION 2.12

            	
              Interest Rate Determination; Changed Circumstances

            	
              39

            
	 	
              SECTION 2.13

            	
              Voluntary Conversion of Loans

            	42
	 	
              SECTION 2.14

            	
              Increased Costs

            	42
	 	
              SECTION 2.15

            	
              Illegality

            	
              44

            
	 	
              SECTION 2.16

            	
              Nature of Obligations of Lenders Regarding Extensions of Credit; Pro Rata Treatment; Assumption by the Administrative Agent

            	
              44

            
	 	
              SECTION 2.17

            	
              Taxes; Foreign Lenders

            	
              45

            
	 	
              SECTION 2.18

            	
              Extension of Stated Termination Date

            	
              47

            
	 	
              SECTION 2.19

            	
              [Reserved]

            	
              49

            
	 	
              SECTION 2.20

            	
              [Reserved]

            	
              49

            
	 	
              SECTION 2.21

            	
              Mitigation Obligations; Replacement of Lenders

            	
              49

            
	 	 	 	 
	
              ARTICLE III       L/C FACILITY

            	
              50

            
	 	 	 	 
	 	
              SECTION 3.01

            	
              Letters of Credit

            	50
	 	
              SECTION 3.02

            	
              Procedure for Issuance of Letters of Credit

            	51
	 	
              SECTION 3.03

            	
              Commissions and Other Charges

            	51
	 	
              SECTION 3.04

            	
              L/C Participations

            	
              52

            
	 	
              SECTION 3.05

            	
              Reimbursement Obligation of the Borrower

            	53
	 	
              SECTION 3.06

            	
              Obligations Absolute

            	
              54

            
	 	
              SECTION 3.07

            	
              Defaulting Lenders

            	
              54

            
	 	
              SECTION 3.08

            	
              Cash Collateral

            	
              57

            

      

      

      
        -i-

        
          

      

      
         TABLE OF CONTENTS

        (continued)

      

       

      

      	 	
              Page

            
	 	 
	
              ARTICLE IV       CONDITIONS PRECEDENT

            	
              58

            
	 	 	 	 
	 	
              SECTION 4.01

            	
              Conditions Precedent to the Execution and Delivery of this Agreement

            	
              58

            
	 	
              SECTION 4.02

            	
              Additional Conditions Precedent

            	
              60

            
	 	
              SECTION 4.03

            	
              [Reserved]

            	
              60

            
	 	
              SECTION 4.04

            	
              Reliance on Certificates

            	60
	 	 	 	 
	
              ARTICLE V        REPRESENTATIONS AND WARRANTIES

            	
              61

            
	 	 	 	 
	 	
              SECTION 5.01

            	
              Representations and Warranties of the Borrower

            	61
	 	 	 	 
	
              ARTICLE VI       COVENANTS OF THE COMPANY

            	
              66

            
	 	 	 	 
	 	
              SECTION 6.01

            	
              Affirmative Covenants

            	
              66

            
	 	
              SECTION 6.02

            	
              Negative Covenants

            	
              69

            
	 	
              SECTION 6.03

            	
              Reporting Requirements

            	70
	 	
              SECTION 6.04

            	
              Financial Covenants

            	73
	 	 	 	 
	
              ARTICLE VII     EVENTS OF DEFAULT

            	73
	 	 	 	 
	 	
              SECTION 7.01

            	
              Events of Default

            	73
	 	
              SECTION 7.02

            	
              Upon an Event of Default

            	75
	 	
              SECTION 7.03

            	
              Rights and Remedies Cumulative; Non-Waiver; Etc

            	75
	 	 	 	 
	
              ARTICLE VIII    THE ADMINISTRATIVE AGENT

            	76
	 	 	 	 
	 	
              SECTION 8.01

            	
              Appointment and Authority

            	76
	 	
              SECTION 8.02

            	
              Rights as a Lender

            	77
	 	
              SECTION 8.03

            	
              Exculpatory Provisions

            	77
	 	
              SECTION 8.04

            	
              Reliance by Administrative Agent

            	78
	 	
              SECTION 8.05

            	
              Delegation of Duties

            	78
	 	
              SECTION 8.06

            	
              Resignation of Administrative Agent

            	79
	 	
              SECTION 8.07

            	
              Non-Reliance on Administrative Agent and Other Lenders

            	79
	 	
              SECTION 8.08

            	
              No Other Duties, Etc

            	80
	 	
              SECTION 8.09

            	
              Administrative Agent May File Proof of Claim

            	80
	 	 	 	 
	
              ARTICLE IX      MISCELLANEOUS

            	82
	 	 	 	 
	 	
              SECTION 9.01

            	
              Amendments, Etc

            	82
	 	
              SECTION 9.02

            	
              Notices, Etc

            	82
	 	
              SECTION 9.03

            	
              No Waiver; Remedies

            	85
	 	
              SECTION 9.04

            	
              Set-off

            	85
	 	
              SECTION 9.05

            	
              Indemnification

            	86
	 	
              SECTION 9.06

            	
              Liability of the Lenders

            	88
	 	
              SECTION 9.07

            	
              Costs, Expenses and Taxes

            	89
	 	
              SECTION 9.08

            	
              [Reserved]

            	90
	 	
              SECTION 9.09

            	
              Benefit of Agreement

            	90
	 	
              SECTION 9.10

            	
              Severability

            	94

      

      

      
        -ii-

        
          

      

      
        TABLE OF CONTENTS

        (continued)

      

       

      

      	 	 	 	
              Page

            
	 	 	 	 
	 	
              SECTION 9.11

            	
              Governing Law

            	
              94

            
	 	
              SECTION 9.12

            	
              Headings

            	94
	 	
              SECTION 9.13

            	
              Submission To Jurisdiction; Waivers

            	94
	 	
              SECTION 9.14

            	
              Acknowledgments

            	95
	 	
              SECTION 9.15

            	
              Waivers of Jury Trial

            	95
	 	
              SECTION 9.16

            	
              Confidentiality

            	95
	 	
              SECTION 9.17

            	
              Counterparts; Integration; Effectiveness; Electronic Execution

            	96
	 	
              SECTION 9.18

            	
              Reversal of Payments

            	97
	 	
              SECTION 9.19

            	
              No Advisory or Fiduciary Responsibility

            	97
	 	
              SECTION 9.20

            	
              Acknowledgment and Consent to Bail-In of EEA Financial Institutions

            	98

      

      

      	
              EXHIBITS

            
	 	 
	
              Exhibit A-1

            	
              Form of Revolving Loan Note

            
	
              Exhibit A-2

            	
              Form of Swingline Note

            
	
              Exhibit B

            	
              Form of Notice of Borrowing

            
	
              Exhibit C

            	
              Form of Notice of Swingline Borrowing

            
	
              Exhibit D

            	
              Form of Notice of Account Designation

            
	
              Exhibit E

            	
              Form of Notice of Conversion/Continuation

            
	
              Exhibit F

            	
              Form of Assignment and Assumption

            
	
              Exhibit G

            	
              Form of Compliance Certificate

            
	
              Exhibit H

            	
              Form of Extension Letter

            
	
              Exhibit I

            	
              Form of Sublimit Adjustment Letter

            
	 	 
	
              SCHEDULES

            
	 	 
	
              Schedule I

            	
              Commitment Schedule

            
	
              Schedule II

            	
              Ownership

            
	
              Schedule III

            	
              Existing Letters of Credit

            
	
              Schedule IV

            	
              First Mortgage Notes

            

      

      

      
        -iii-

        
          

      

      FIVE-YEAR

      REVOLVING CREDIT AGREEMENT

      

      

      This FIVE-YEAR REVOLVING CREDIT AGREEMENT (as it may be amended, supplemented or otherwise modified in accordance
        with the terms hereof at any time and from time to time, this “Agreement”) dated as of August 14, 2017, among SOUTH JERSEY GAS COMPANY, a New
        Jersey corporation (the “Original Borrower”), SJI Utilities, Inc., a New Jersey corporation (“SJIU” and together with the
        Original Borrower, each a “Borrower” and collectively, the “Borrowers”), the several banks and other financial institutions from
        time to time parties to this Agreement (each a “Lender” and collectively, the “Lenders”), and WELLS
          FARGO BANK, NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (“Wells Fargo”), as administrative agent for
        the Lenders hereunder (in such capacity, together with its successors and permitted assigns in such capacity, the “Administrative Agent”).

      

      

      PRELIMINARY STATEMENTS

      

      

      WHEREAS, the Borrowers have requested that the Lenders make revolving credit loans to the Borrower and issue or participate in letters of credit for the account of the Borrowers, in an aggregate
        principal amount of up to $200,000,000 ($100,000,000 of which shall be available for the issuances of letters of credit) at any one time outstanding, for the repayment of Indebtedness under the Existing Credit Facility, general corporate purposes
        and for working capital of the Borrowers and their respective Subsidiaries or Affiliates; and

      

      

      WHEREAS, the Lenders are willing, on the terms and subject to the conditions set forth in this Agreement, to extend credit under this Agreement as more particularly hereinafter set forth.

      

      

      NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, the parties agree as follows:

      

      

      DEFINITIONS

      

      

      Certain Defined Terms.  As used in this Agreement, the following terms shall have the following meanings (such meanings to be equally applicable to both the
        singular and plural forms of the terms defined):

      

      

      “Acquisition” means any transaction or series of related transactions by which any Borrower or any Subsidiary directly or indirectly (a)
        acquires all or substantially all of the assets comprising one or more business units of any other Person, whether through purchase of assets, merger or otherwise or (b) acquires (in one transaction or as the most recent transaction in a series of
        transactions) at least a majority of the Capital Stock of any other Person or a majority of the Capital Stock of such Person having ordinary voting power for the election of directors or members of a similar governing body of such Person.

      

      

      “Additional Commitment Lender” has the meaning assigned to that term in Section 2.18(d)(ii).

      

      

      
        
          

      

      
      “Additional Lender” has the meaning assigned to that term in Section 2.08(a).

      

      

      “Administrative Agent” has the meaning assigned to that term in the preamble hereto.

      

      

      “Administrative Agent’s Office” means the office of the Administrative Agent as set forth in Section 9.02.

      

      

      “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to any Borrower or its Subsidiaries from
        time to time concerning or relating to bribery or corruption, including, without limitation, the United States Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010, as amended, and the rules and regulations thereunder, and
        other similar legislation.

      

      

      “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling (including but not limited to all
        directors and officers of such Person), controlled by, or under direct or indirect common control with such Person.  A Person shall be deemed to control another entity if such Person possesses, directly or indirectly, the power to direct or cause
        the direction of the management and policies of such entity, whether through the ownership of voting securities, by contract, or otherwise.

      

      

      “Agreement” means this Five-Year Revolving Credit Agreement, as it may be amended, supplemented or otherwise modified in accordance with
        the terms hereof at any time and from time to time.

      

      

      “Anniversary Date” has the meaning assigned to that term in Section 2.18(a).

      

      

      “Applicable Base Rate Margin” shall have the meaning set forth in the definition of Applicable Margin.

      

      

      “Applicable Law” means all applicable laws, statutes, treaties, rules, codes, ordinances,
        regulations, permits, certificates, orders, interpretations, licenses, and permits of any Governmental Authority and judgments, decrees, injunctions, writs, orders or like action of any court, arbitrator or other judicial or quasi–judicial tribunal
        (including, without limitation, those pertaining to health, safety, the environment or otherwise).

      

      

      “Applicable Lending Office” means, with respect to any Lender, the office of such Lender
        specified in such Lender’s administrative questionnaire delivered to the Administrative Agent, or such other office of such Lender as such Lender may from time to time specify to the Borrowers and the Administrative Agent.

      

      

      “Applicable Letter of Credit Fee Margin” shall have the meaning set forth in the definition of Applicable Margin.

      

      

      “Applicable LIBOR Margin” shall have the meaning set forth in the definition of Applicable Margin.

      

      

      
        2

        
          

      

      “Applicable Margin” means, for the applicable interest rate on Loans made to any Borrower, Facility Fees payable by any Borrower pursuant
        to Section 2.05(a), and Letter of Credit fees and commissions payable by any Borrower pursuant to Section 3.03(a), the rate per annum as set forth in the “Pricing Grid” below, determined by reference to the Debt Ratings:

       

      

      	
              Pricing Grid

            
	
              Tier

            	
              Debt Ratings

            	
              Facility Fee

            	
              Applicable Base

              Rate Margin

            	
              Applicable LIBOR

              Margin or Applicable

              Letter of Credit Fee

              Margin

            
	
              I

            	
              > A+/A1

            	
              0.075%

            	
              0.000%

            	
              0.800%

            
	
              II

            	
              A/A2

            	
              0.100%

            	
              0.000%

            	
              0.900%

            
	
              III

            	
              A-/A3

            	
              0.125%

            	
              0.000%

            	
              1.000%

            
	
              IV

            	
              BBB+/Baa1

            	
              0.175%

            	
              0.075%

            	
              1.075%

            
	
              V

            	
              < BBB/Baa2

            	
              0.225%

            	
              0.275%

            	
              1.275%

            

      

      

      The Applicable Margin shall be adjusted effective on the next Business Day following any change in the applicable Borrower’s Debt Ratings.  Each Borrower shall notify the Administrative Agent in
        writing promptly after becoming aware of any change in its Debt Ratings.

      

      

      “Applicable Share” means, at any time, the percentage by which any Borrower’s Sublimit bears to the amount of the Commitments at such
        time.

      

      

      “Application” means an application, in the form specified by an Issuing Lender from time to time, requesting such Issuing Lender to issue
        a Letter of Credit.

      

      

      “Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an
        Affiliate of an entity that administers or manages a Lender.

      

      

      “Arrangers” means Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., BofA Securities, Inc., and PNC Capital Markets LLC, each in its
        capacity as a joint lead arranger and joint book runner, and their successors and assigns.

      

      

      “Assignment and Assumption” means an Assignment and Assumption executed in accordance with Section 9.09 in the form attached
        hereto as Exhibit F or any other form approved by the Administrative Agent.

      

      

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

      

      

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

      

      

      
        3

        
          

      

      “Bank of America Fee Letter” means that certain fee letter dated June 28, 2017, among the Original Borrower, Merrill Lynch, Pierce,
        Fenner & Smith Incorporated, and Bank of America, N.A.

      

      

      “Base Rate” means, for any period, a fluctuating interest rate per annum as shall be in effect from time to time, which rate per annum
        shall at all times be equal to the highest of (i) the Prime Rate; (ii) 1/2 of one percent per annum above the Federal Funds Rate in effect from time to time; and (iii) except during any period of time during which a notice delivered to Borrowers
        under Section 2.12 shall remain in effect, the LIBOR Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus one percent.

      

      

      “Base Rate Loan” means all Loans, or portions thereof, bearing interest based on the Base Rate.

      

      

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

      

      

      “Borrower” has the meaning assigned to that term in the preamble hereto.

      

      

      “Business Day” means (a) for all purposes other than as set forth in clause (b) below, any day other than a Saturday, Sunday or legal
        holiday on which banks in Charlotte, North Carolina and New York, New York, are open for the conduct of their commercial banking business, and (b) with respect to all notices and determinations in connection with, and payments of principal and
        interest on, any LIBOR Rate Loan, or any Base Rate Loan as to which the interest rate is determined by reference to LIBOR, any day that is a Business Day described in clause (a) and that is also a day for trading by and between banks in Dollar
        deposits in the London interbank market.

      

      

      “Capital Stock” means, with respect to any Person, any and all shares, interests, rights to purchase, warrants, options, participations
        or other equivalents of or interests in (however designated) equity of such Person, including any preferred interest, any limited or general partnership interest and any limited liability company membership interest.

      

      

      “Cash Collateralize” means, to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the
        Issuing Lenders or Lenders, as collateral for L/C Obligations or obligations of Lenders to fund participations in respect of L/C Obligations, cash or deposit account balances or, if the Administrative Agent and the applicable Issuing Lender shall
        agree in their sole discretion, other credit support, in each case pursuant to documentation in form and substance satisfactory to the Administrative Agent and the Issuing Lenders.  “Cash
          Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.

      

      

      
        4

        
          

      

      “CERCLA” means the Comprehensive Environmental Response Compensation and Liability Act, 42 U.S.C. § 9601, et seq., as amended from time
        to time, and any regulations promulgated thereunder.

      

      

      “Change in Control” means with respect to any Borrower, (a) the Parent shall cease at any time to own, directly or indirectly, at least
        100% of the Capital Stock having voting rights of such Borrower, or (b) the occurrence of either of the following:  (i) any entity, person (within the meaning of Section 14(d) of the Exchange Act) or group (within the meaning of Section 13(d)(3) or
        14(d)(2) of the Exchange Act) which theretofore was beneficial owner (as defined in Rule 13d 3 under the Exchange Act) of less than 30% of the Parent’s then outstanding common stock either (x) acquires shares of common stock of the Parent in a
        transaction or series of transactions that results in such entity, person or group directly or indirectly owning beneficially 30% or more of the outstanding common stock of the Parent, or (y) acquires, by proxy or otherwise, the right to vote for
        the election of directors, for any merger, combination or consolidation of the Parent or any of its direct or indirect Subsidiaries, or, for any other matter or question, more than 30% of the then outstanding voting securities of the Parent; or
        (ii) a majority of the directors of the board of directors of the Parent fail to consist of Continuing Directors.

      

      

      “Change in Law” means the occurrence, after the date of this Agreement, of any of the following:  (a) the adoption or taking effect of
        any law, rule, regulation or treaty (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority, including any Regulatory Change or (c) the making or issuance
        of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority.

      

      

      “Closing Date” means August 14, 2017.

      

      

      “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings issued
        thereunder.

      

      

      “Commitment” means, with respect to each Lender, its obligation to (a) make Revolving Loans to
        the Borrowers pursuant to Section 2.01, (b) purchase participations in L/C Obligations and Swingline 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 I 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.

      

      

      “Commitment Increase” has the meaning assigned to that term in Section 2.08(a).

      

      

      “Commitments” means the total of the Lenders’ Commitments.

      

      

      “Commitment Percentage” means for each Lender, a fraction (expressed as a
        decimal) the numerator of which is the Commitment of such Lender at such time and the denominator of which are the Commitments of all of the Lenders at such time.  The initial Commitment Percentage of each Lender is set out on Schedule I.

      

      

      “Compliance Certificate” means a certificate substantially in the form of Exhibit G.

      

      

      
        5

        
          

      

      “Consenting Lender” has the meaning assigned to that term in Section 2.18(d).

      

      

      “Consolidated” means, when used with reference to any accounting term, the amount described by such accounting term, determined on a
        consolidated basis in accordance with GAAP, after elimination of intercompany items.

      

      

      “Consolidated Total Capitalization” means the sum of (a) Indebtedness of the applicable Borrower and its Consolidated Subsidiaries,
        without duplication, plus (b) the sum of the Capital Stock (excluding treasury stock and capital stock subscribed for and unissued) and surplus (including earned surplus, capital surplus, translation
        adjustment and the balance of the current profit and loss account not transferred to surplus) accounts of such Borrower and its Consolidated Subsidiaries appearing on a consolidated balance sheet of such Borrower and its Consolidated Subsidiaries,
        in each case prepared as of the date of determination in accordance with GAAP consistent with those applied in the preparation of the financial statements referred to in Section 4.01(d), after eliminating all intercompany transactions and
        all amounts properly attributable to minority interests, if any, in the stock and surplus of Subsidiaries.

      

      

      “Continuing Director” means, with respect to any Person as of any date of determination, any member of the board of directors of such
        Person who (a) was a member of such board of directors on the Closing Date, or (b) was nominated for election or elected to such board of directors with the approval of a majority of the Continuing Directors who were members of such board at the
        time of such nomination or election.

      

      

      “Convert”, “Conversion” and “Converted” each refers to a conversion of a Loan of one Type into a Loan of another Type pursuant to Section 2.13 or the selection of a new, or the renewal of the same, Interest Period for a LIBOR Rate Loan pursuant to Section
          2.13.

      

      

      “Current Stated Termination Date” has the meaning assigned to that term in Section 2.18(c).

      

      

      “Debt Ratings” means, with respect to a Borrower, the ratings determined by a Rating Agency and shall be based upon the availability of
        such ratings as follows:

      

      

      (a)          The senior unsecured non-credit enhanced debt ratings of such Borrower by each Rating Agency, subject to the proviso immediately below; provided that in the event that there is
        no such rating then in effect for such Borrower from a particular Rating Agency, such Rating Agency’s issuer rating or issuer credit rating (as applicable) for such Borrower, subject to the proviso immediately below;

      

      

      If such Borrower shall maintain a rating referred to in (a) above from only one Rating Agency, the Pricing Level for such Borrower shall be determined by reference to that one rating;

      

      

      If none of the ratings in (a) above are available, then Pricing Level V shall apply;

      

      

      provided, that, for purposes of the foregoing, if the Debt Ratings of such Borrower established or deemed to have been established by the two Rating Agencies shall fall within different
        “Tiers” on the chart set forth above, then (i) in any case where the ratings differential is one tier, the higher rating will apply and (ii) in any case where the ratings differential is two tiers or more, the tier one below the higher of the two
        will apply.

      

      

      
        6

        
          

      

      Notwithstanding anything herein to the contrary, if the rating system of either Rating Agency shall change, or if either Rating Agency shall cease to be in the business of rating corporate debt
        obligations, the Borrowers, the Administrative Agent and the Lenders shall negotiate in good faith to amend the definition of Debt Ratings to reflect such changed rating system or the unavailability of ratings from either or both Rating Agencies,
        and, pending the effectiveness of any such amendment, the applicable tier shall be determined by reference to the Debt Ratings of the applicable Borrower most recently in effect prior to such change or cessation.

      

      

      “Debtor Relief Laws” means the Bankruptcy Code of the United States of America, and all other liquidation, conservatorship, bankruptcy,
        assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect.

      

      

      “Default” means any event or condition that would constitute an Event of Default but for the
        requirement that notice be given or time elapse or both.

      

      

      “Default Rate” means a per annum rate equal to 2% greater than (i) in the case of each Base Rate Loan, the Base Rate plus the
        Applicable Base Rate Margin then in effect, (ii) in the case of each LIBOR Rate Loan, the LIBOR Rate for such Interest Period, plus the Applicable LIBOR Margin then in effect,  and (iii) in the case of each Swingline Loan, either the LIBOR
        Market Index Rate plus the Applicable LIBOR Margin then in effect, or the Base Rate plus the Applicable Base Rate Margin then in effect, as applicable based on the Type of Swingline Loan selected by the applicable Borrower.

      

      

      “Defaulting Lender” means, subject to Section 3.07(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans
        within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrowers in writing that such failure is the result of such Lender’s determination that one or more
        conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, any Issuing Lender, the
        Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swingline Loans) within two Business Days of the date when due, (b) has notified the
        Borrowers, the Administrative Agent, any Issuing Lender or the Swingline Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public
        statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default,
        shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or any Borrower, to confirm in writing to the Administrative
        Agent and the Borrowers that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the
        Administrative Agent and the Borrowers), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee,
        administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority
        acting in such a capacity, or (iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in
        that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the
        enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.  Any determination by the
        Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 3.07(b)) upon
        delivery of written notice of such determination to the Borrowers, each Issuing Lender, the Swingline Lender and each Lender.

      

      

      
        7

        
          

      

      “Disclosure Documents” means the Borrower’s Annual Report on Form 10 K for the year ended
        December 31, 2016, Borrower’s Quarterly Report on Form 10-Q for the quarter(s) ended March 31, 2017 and June 30, 2017, and any Current Report on Form 8-K delivered to the Lenders at least three (3) Business Days prior to the Closing Date.

      

      

      “Dollar” or “$” means dollars in lawful currency of the United States of
        America.

      

      

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

      

      

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

      

      

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

      

      

      “Election Date” shall have the meaning set forth in Section 2.18(b).

      

      

      “Electronic Means” shall have the meaning set forth in Section 6.03.

      

      

      “Employee Benefit Plan” means, with respect to any Borrower, any employee benefit plan within the meaning of Section 3(3) of ERISA that
        is maintained for employees of such Borrower or, in the case of a Pension Plan or a Multiemployer Plan, maintained or contributed to by such Borrower or any current or former ERISA Affiliate thereof.

      

      

      “Environmental Claims” means any and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens,
        accusations, allegations, notices of noncompliance or violation, investigations (other than internal reports prepared by any Person in the ordinary course of business and not in response to any third party action or request of any kind) or
        proceedings relating in any way to any actual or alleged violation of or liability under any Environmental Law or relating to any permit issued, or any approval given, under any such Environmental Law, including, without limitation, any and all
        claims by Governmental Authorities for enforcement, cleanup, removal, response, remedial or other actions or damages, contribution, indemnification cost recovery, compensation or injunctive relief resulting from Hazardous Materials or arising from
        alleged injury or threat of injury to public health or the environment.

      

      

      
        8

        
          

      

      “Environmental Judgments and Orders” means all judgments, decrees or orders arising from or in any way associated with any Environmental
        Requirements, whether or not entered upon consent or written agreements with an Environmental Authority or other entity, and whether or not incorporated in a judgment, decree or order.

      

      

      “Environmental Laws” means any and all federal, foreign, state, provincial
        and local laws, statutes, ordinances, codes, rules, standards and regulations, permits, licenses, approvals, interpretations and orders of courts or Governmental Authorities, relating to the protection of public health or the environment,
        including, but not limited to, requirements pertaining to the manufacture, processing, distribution, use, treatment, storage, disposal, transportation, handling, reporting, licensing, permitting, investigation or remediation of Hazardous Materials.

      

      

      “Environmental Liabilities” means any liabilities, whether accrued, contingent or otherwise, arising from and in any way associated with
        any Environmental Requirements.

      

      

      “Environmental Notices” means notice from any Environmental Authority or by any other Authority, of possible or alleged noncompliance
        with or liability under any Environmental Requirement, including without limitation any complaints, citations, demands or requests from any Environmental Authority or from any other Authority for correction of any violation of any Environmental
        Requirement or any investigations concerning any violation of any Environmental Requirement.

      

      

      “Environmental Proceedings” means any judicial or administrative proceedings arising from or in any way associated with any Environmental
        Requirement.

      

      

      “Environmental Releases” means releases as defined in CERCLA or under any applicable state or local environmental law or regulation.

      

      

      “Environmental Requirement” means any legal requirement relating to the environment and applicable to any Borrower or its properties,
        including but not limited to any such requirement under CERCLA or similar state legislation and all federal, state and local laws, ordinances, regulations, orders, writs, decrees and common law.

      

      

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

      

      

      “ERISA Affiliate” means, with respect to any Borrower, any Person who together with such Borrower or any of its Subsidiaries is treated
        as a single employer within the meaning of Section 414(b), (c), (m) or (o) of the Code.

      

      

      
        9

        
          

      

      “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor
        person), as in effect from time to time.

      

      

      “Eurocurrency Liabilities” has the meaning specified in Regulation D of the Board of Governors of the Federal Reserve System, as in
        effect from time to time.

      

      

      “Eurodollar Reserve Percentage” means, for any day, the percentage (expressed as a decimal and rounded upwards, if necessary, to the next
        higher 1/100th of 1%) which is in effect for such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any basic, supplemental
        or emergency reserves) in respect of Eurocurrency Liabilities or any similar category of liabilities for a member bank of the Federal Reserve System in New York City.

      

      

      “Event of Default” has the meaning assigned to that term in Section 7.01.

      

      

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

      

      

      “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, any Issuing Lender or any other recipient of any payment to
        be made by or on account of any obligation of any Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), gross receipts, capital stock taxes or franchise taxes imposed on it, by the jurisdiction (or
        any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its Applicable Lending Office is located, (b) any branch profits taxes
        imposed by the United States or any similar tax imposed by any other jurisdiction in which such Borrower is located, (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by any Borrower under Section 2.21(b)),
        any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new Applicable Lending Office) or is attributable to such Foreign Lender’s failure or inability
        (other than as a result of a Change in Law) to comply with Section 2.17(f), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Applicable Lending Office (or assignment),
        to receive additional amounts from such Borrower with respect to such withholding tax pursuant to Section 2.17(a), and (d) any U.S. federal withholding taxes imposed under FATCA.

      

      

      “Existing Letters of Credit” shall mean those letters of credit as described on Schedule III
        attached hereto, which shall remain in existence and be deemed to have been issued under this Agreement pursuant to the terms of Section 3.01(a).

      

      

      “Existing Credit Facility” means that certain Four-Year Revolving Credit Agreement, dated as of May 5, 2011, among the Original Borrower,
        the lenders referred to therein and Wells Fargo Bank, as administrative agent, as amended by that certain First Amendment to Credit Agreement dated as of September 27, 2013.

      

      

      “Extension” has the meaning assigned to that term in Section 2.18(a).

      

      

      “Extension Condition” has the meaning assigned to that term in Section 2.18(a).

      

      

      
        10

        
          

      

      “Extension Letter” has the meaning assigned to that term in Section 2.18(a).

      

      

      “Extension of Credit” means, as to any Lender at any time, any Loan made hereunder, any issuance of a Letter of Credit hereunder, or any
        Reimbursement Obligation incurred hereunder, and “Extensions of Credit” means an amount equal to the sum of all Loans then outstanding and the aggregate amount of all L/C Obligations then
        outstanding.

      

      

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

      

      

      “Facility Fee” has the meaning assigned to that term in Section 2.05(a).

      

      

      “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is
        substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered into pursuant to Section 1471(b)(1) of the Code.

      

      

      “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds
        transactions with members of the Federal Reserve System arranged by federal funds brokers on such day (or, if such day is not a Business Day, for the immediately preceding Business Day), as published by the Federal Reserve Bank of New York on the
        Business Day next succeeding such day, provided that if such rate is not so published for any day which is a Business Day, the average of the quotation for such day on such transactions received by the
        Administrative Agent from three federal funds brokers of recognized standing selected by the Administrative Agent.  Notwithstanding the foregoing, if the Federal Funds Rate shall be less than zero, such rate shall be deemed to be zero for purposes
        of this Agreement.

      

      

      “Fee Letters” means, collectively, the Wells Fargo Fee Letter, Bank of America Fee Letter, JPMorgan Fee Letter, and the PNC Fee Letter.

      

      

      “Final Fee Payment Date” means the date all Commitments have been terminated and all Loans have been paid in full.

      

      

      “First Mortgage Notes” means those First Mortgage Notes identified on Schedule IV attached hereto, and subsequent promissory
        notes or other evidences of indebtedness of the Original Borrower in each case secured by first mortgages on property owned by the Original Borrower or its Subsidiaries.

      

      

      “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Borrowers are resident
        for tax purposes.  For purposes of this definition, the United States, each state thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.

      

      

      “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to each Issuing Lender, such Defaulting Lender’s
        Commitment Percentage of the outstanding L/C Obligations with respect to Letters of Credit issued by such Issuing Lender 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 Swingline Lender, such Defaulting Lender’s Commitment Percentage of outstanding Swingline Loans made by such Swingline Lender other than Swingline Loans as to
        which such Defaulting Lender’s participation obligation has been reallocated to other Lenders.

      

      

      
        11

        
          

      

      “Fronting Fee” has the meaning assigned to that term in Section 3.03(b).

      

      

      “Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing
        in commercial loans, bonds and similar extensions of credit in the ordinary course of its business.

      

      

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

      

      

      “Governmental Action” means, with respect to any Borrower, all authorizations, consents, approvals, waivers, exceptions, variances,
        orders, licenses, exemptions, publications, filings, notices to and declarations of or with any Governmental Authority, required to be made by such Borrower, other than routine reporting requirements the failure to comply with which will not affect
        the validity or enforceability of this Agreement or any other Loan Document or have a material adverse effect on the transactions contemplated by this Agreement or any other Loan Document.

      

      

      “Governmental Authority” means any nation or government, any state or other political
        subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.

      

      

      “Hazardous Materials” means any substances or materials (a) which are or become defined as hazardous wastes, hazardous substances,
        pollutants, contaminants, chemical substances or mixtures or toxic substances under any Environmental Law, (b) which are toxic, explosive, corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic or otherwise harmful to human health
        or the environment and are or become regulated by any Governmental Authority having authority over the applicable Borrower or such Borrower’s operations, (c) the presence of which require investigation or remediation under any Environmental Law or
        common law, (d) the discharge or emission or release of which requires a permit or license under any Environmental Law or other Governmental Action, (e) which are deemed to constitute a nuisance or a trespass which pose a health or safety hazard to
        Persons or neighboring properties, (f) which consist of underground or aboveground storage tanks, whether empty, filled or partially filled with any substance, or (g) which contain, without limitation, asbestos, polychlorinated biphenyls, urea
        formaldehyde foam insulation, petroleum hydrocarbons, petroleum derived substances or waste, crude oil, nuclear fuel, natural gas or synthetic gas.

      

      

      “Hedging Obligations” means, with respect to any Person, the obligations of such Person under any interest rate or currency swap
        agreement, interest rate or currency future agreement, interest rate collar agreement, swap agreement (as defined in 11 U.S.C. § 101), interest rate or currency hedge agreement, and any put, call or other agreement or arrangement designed to
        protect such Person against fluctuations in interest rates or currency exchange rates.

      

      

      
        12

        
          

      

      “Increasing Lender” has the meaning assigned to that term in Section 2.08(a).

      

      

      “Indebtedness” means, for any Person, all obligations of such Person which in accordance with GAAP should be classified on a balance
        sheet of such Person as liabilities of such Person, and in any event shall include, without duplication, all (a) indebtedness for borrowed money, (b) obligations evidenced by bonds, debentures, notes or other similar instruments, (c) obligations to
        pay the deferred purchase price of property or services, (d) obligations as lessee under leases which shall have been or should be, in accordance with GAAP, recorded as capital leases, (e) obligations as lessee under operating leases which have
        been recorded as off-balance sheet liabilities, (f) obligations under Hedging Obligations, (g) Reimbursement Obligations (contingent or otherwise) in respect of outstanding letters of credit, (h) indebtedness of the type referred to in clauses (a)
        through (f) above secured by (or for which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured by) any lien or encumbrance on, or security interest in, property (including, without limitation, accounts and
        contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such indebtedness, and (i) obligations under direct or indirect guaranties in respect of, and obligations (contingent or otherwise)
        to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of others of the kinds referred to in clauses (a) through (g) above.  For the avoidance of doubt and notwithstanding
        anything to the contrary set forth above, Permitted Commodity Hedging Obligations and Capital Stock, including Capital Stock having a preferred interest, shall not constitute Indebtedness for purposes of this Agreement.

      

      

      “Indemnified Taxes” means Taxes and Other Taxes other than Excluded Taxes.

      

      

      “Indemnitee” has the meaning assigned to that term in Section 9.05.

      

      

      “Information” has the meaning assigned to that term in Section 9.16.

      

      

      “Informational Materials” has the meaning assigned to that term in Section 6.03.

      

      

      “Initial Sublimit” means, with respect to each Borrower, as of the Second Amendment Effective Date, the amount set forth opposite its
        name in the following table:

       

      

      	
              Borrower

            	 	
              Initial Sublimit

            	 
	
              Original Borrower

            	 	
              $

            	
              200,000,000

            	 
	
              SJIU

            	 	
              $

            	
              0

            	 

       

      

      ; provided that, upon the Satisfaction of the SJIU Sublimit Conditions, the Initial Sublimits of each Borrower shall automatically, and without any further action by any Person, be adjusted to the amounts set
        forth opposite their respective names in the following table:

      

      

      
        13

        
          

      

      	
              Borrower

            	 	
              Initial Sublimit

            	 
	
              Original Borrower

            	 	
              $

            	
              175,000,000

            	 
	
              SJIU

            	 	
              $

            	
              25,000,000

            	 

      

      

      “Interest Period” has the meaning assigned to that term in Section 2.10(b).

      

      

      “Investment” shall mean, with respect to any Borrower, any investment (including, without limitation, any loan or advance) of such
        Borrower or any Subsidiary thereof in or to any Person, whether payment therefor is made in cash or Capital Stock of such Borrower or any Subsidiary thereof, and whether such investment is directly or indirectly by acquisition of Capital Stock or
        Indebtedness, or by loan, advance, transfer of property out of the ordinary course of business, capital contribution, equity or profit sharing interest, extension of credit on terms other than those normal in the ordinary course of business or
        otherwise.

      

      

      “ISP 98” means the International Standby Practices (1998 Revision, effective January 1, 1999), International Chamber of Commerce
        Publication No. 590.

      

      

      “Issuing Lender” means each of Wells Fargo Bank, Bank of America, N.A., JPMorgan, PNC Bank, TD Bank, N.A., and any other Lender to the
        extent it has agreed in its sole discretion to act as an “Issuing Lender” hereunder and that has been approved in writing by the Borrowers and the Administrative Agent (such approval by the Administrative Agent not to be unreasonably delayed or
        withheld), each in their capacity as issuers of Letters of Credit hereunder.

      

      

      “JPMorgan Fee Letter” means that certain fee letter dated June 28, 2017, among the Original Borrower and JPMorgan Chase Bank, N.A.

      

      

      “L/C Commitment” means, with respect to each Issuing Lender, unless such Issuing Lender agrees to a higher amount in its sole discretion,
        the lesser of (a) $2,500,000 and (b) such Issuing Lender’s Commitment.

      

      

      “L/C Facility” means the letter of credit facility established pursuant to Article
          III.

      

      

      “L/C Obligations” means at any time, an amount equal to the sum of (a) the aggregate undrawn and unexpired amount of the then outstanding
        Letters of Credit and (b) the aggregate amount of drawings under Letters of Credit which have not then been reimbursed pursuant to Section 3.05.

      

      

      “L/C Participants” means, with respect to a Letter of Credit, the collective
        reference to all the Lenders other than the Issuing Lender that issued such Letter of Credit.

      

      

      “L/C Sublimit” means the lesser of (a) $100,000,000 and (b) the aggregate Commitments.

      

      

      “Lenders” has the meaning assigned to that term in the preamble hereto, and, in each case, includes their respective successors and
        permitted assigns, and, with respect to Swingline Loans, the Swingline Lender.

      

      

      
        14

        
          

      

      “Lending Office” means, as to each Lender, its office located at its address set forth in such Lender’s administrative questionnaire
        delivered to the Administrative Agent, or such other office as such Lender may hereafter designate as its Lending Office by notice to the Borrowers and the Administrative Agent.

      

      

      “Letters of Credit” has the meaning assigned to that term in Section 3.01(a).

      

      

      “LIBOR” means,

      

      

      (a)          for any interest rate calculation with respect to a LIBOR Rate Loan, the rate of interest per annum determined on the basis of the rate for
        deposits in Dollars for a period equal to the applicable Interest Period which appears on Reuters Screen LIBOR01 Page (or any applicable successor page) at approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of the
        applicable Interest Period (rounded upward, if necessary, to the nearest 1/100th of 1%).  If, for any reason, such rate does not appear on Reuters Screen LIBOR01 Page (or any applicable successor page), then “LIBOR” shall be determined by the
        Administrative Agent to be the arithmetic average of the rate per annum at which deposits in Dollars would be offered by first class banks in the London interbank market to the Administrative Agent at approximately 11:00 a.m. (London time) two (2)
        Business Days prior to the first day of the applicable Interest Period for a period equal to such Interest Period; and

      

      

      for any interest rate calculation with respect to a Base Rate Loan, the rate of interest per annum determined on the basis of the rate for deposits in Dollars for an Interest Period equal to one
        month (commencing on the date of determination of such interest rate) which appears on the Reuters Screen LIBOR01 Page (or any applicable successor page) at approximately 11:00 a.m. (London time) on such date of determination, or, if such date is
        not a Business Day, then the immediately preceding Business Day.  If, for any reason, such rate does not appear on Reuters Screen LIBOR01 Page (or any applicable successor page) then “LIBOR” for such Base Rate Loan shall be determined by the
        Administrative Agent to be the arithmetic average of the rate per annum at which deposits in Dollars would be offered by first class banks in the London interbank market to the Administrative Agent at approximately 11:00 a.m. (London time) on such
        date of determination for a period equal to one month commencing on such date of determination.

      

      

      Each calculation by the Administrative Agent of LIBOR shall be conclusive and binding for all purposes, absent manifest error.

      

      

      “LIBOR Market Index Rate” means, for any day, the rate for one month U.S. dollar deposits as reported on Reuters Screen LIBOR01 Page (or
        any applicable successor page) as of 11:00 a.m., London time, for such day, provided, if such day is not a Business Day, the immediately preceding Business Day (or if not so reported, then as determined by
        the Swingline Lender from another recognized source or interbank quotation).  Notwithstanding the foregoing, if at any time the LIBOR Market Index Rate shall be less than zero, such rate shall be deemed to be zero for all purposes in this
        Agreement.

      

      

      “LIBOR Rate” means a rate per annum (rounded upwards, if necessary, to the next higher 1/100th of 1%) determined by the Administrative
        Agent pursuant to the following formula:

      

      

      
        15

        
          

      

      	
              LIBOR Rate =

            	
              LIBOR

            
	 	
              1.00-Eurodollar Reserve Percentage

            

       

      

      Notwithstanding the foregoing, if at any time the LIBOR Rate shall be less than zero, the LIBOR Rate shall be deemed to be zero for all purposes in this Agreement.

      

      

      “LIBOR Rate Loan” means all Loans, or portions thereof, bearing interest based on the LIBOR Rate (other than a Base Rate Loan for which
        interest is determined by reference to LIBOR).

      

      

      “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
        or encumbrance of any kind in respect of such asset.  For the purposes of this Agreement, a Person or any of its Subsidiaries shall be deemed to own, subject to a Lien, any asset that it has acquired or holds subject to the interest of a vendor or
        lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such asset.

      

      

      “Loan Documents” means this Agreement, the Notes and any other document
        evidencing, relating to or securing any L/C Obligation, Loan or other Extension of Credit, and any other document or instrument delivered from time to time in connection with this Agreement, the Notes or the Extensions of Credit, as such documents
        and instruments may be amended or supplemented from time to time.

      

      

      “Loans” means the Swingline Loans and Revolving Loans.

      

      

      “Material Adverse Effect” means, with respect to any Borrower, a material adverse effect on (a) the business, assets, liabilities (actual
        or contingent), operations, condition (financial or otherwise) or prospects of such Borrower and its Subsidiaries on a consolidated basis, taken as a whole, (b) the ability of such Borrower to perform its obligations under this Agreement or any of
        the other Loan Documents to which such Borrower is a party or (c) the validity or enforceability against such Borrower of this Agreement, any of the other Loan Documents to which such Borrower is a party, or the rights and remedies of the
        Administrative Agent, the Issuing Lenders and the Lenders hereunder or thereunder.

      

      

      “Maximum Sublimit” means, with respect to each Borrower, the amount set forth opposite its name in the table below, as such amount may be
        modified from time to time pursuant to Section 2.06(c) or Section 2.08(f); provided, that at no time may the Sublimit or Maximum Sublimit for any Borrower exceed the amount of Indebtedness such Borrower is authorized to
        incur pursuant to any order, rule or regulation of any Governmental Authority having jurisdiction over such Borrower at such time.

      

      

      	
              Borrower

            	 	
              Maximum Sublimit

            	 
	
              Original Borrower

            	 	
              $

            	
              200,000,000

            	 
	
              SJIU

            	 	
              $

            	
              175,000,000

            	 

      

      

      
        16

        
          

      

      

      

      “Minimum Collateral Amount” means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances, an
        amount equal to 105% of the Fronting Exposure of the Issuing Lenders with respect to Letters of Credit issued and outstanding at such time and (b) otherwise, an amount determined by the Administrative Agent and the Issuing Lenders in their
        reasonable discretion.

      

      

      “Minimum Sublimit” means, with respect to each Borrower, the amount set forth opposite its name in the table below, as such amount may be
        modified from time to time pursuant to Section 2.06(c) or Section 2.08(f).

      

      

      	
              Borrower

            	 	
              Minimum Sublimit

            	 
	
              Original Borrower

            	 	
              $

            	
              25,000,000

            	 
	
              SJIU

            	 	
              $

            	
              0

            	 

      

      

      “MNPI” has the meaning assigned to that term in Section 6.03.

      

      

      “Moody’s” means Moody’s Investors Service, Inc., or any successor thereto.

      

      

      “Multiemployer Plan” means a “Multiemployer plan” as defined in Section 4001(a)(3) of ERISA to which the applicable Borrower or any ERISA
        Affiliate thereof is making, or is accruing an obligation to make, or has accrued an obligation to make contributions within the preceding five (5) years.

      

      

      “Non-Consenting Lender” has the meaning assigned to that term in Section 2.18(d).

      

      

      “Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time.

      

      

      “Note” means the collective reference to the Revolving Loan Notes and the
        Swingline Note.

      

      

      “Notice of Account Designation” has the meaning assigned to that term in Section 2.03(d)(i).

      

      

      “Notice of Borrowing” has the meaning assigned to that term in Section 2.03(a)(i)(A).

      

      

      “Notice of Conversion/Continuation” has the meaning assigned to that term in Section 2.13.

      

      

      “Notice of Swingline Borrowing” has the meaning assigned to that term in Section 2.03(a)(ii).

      

      

      
        17

        
          

      

      “Obligations” means, with respect to any Borrower, in each case, whether now in existence or hereafter arising:  (a) the principal of and
        interest on (including interest accruing after the filing of any bankruptcy or similar petition) the Loans, (b) the L/C Obligations, (c) all payment and other obligations owing by such Borrower to any Lender or the Administrative Agent under any
        other agreement to which a Lender is a party (or any Affiliate of a Lender) which is related to and permitted under this Agreement or any of the other Loan Documents, and (d) all other fees and commissions (including attorney’s fees), charges,
        indebtedness, loans, liabilities, financial accommodations, obligations, covenants and duties owing by such Borrower or any Subsidiary thereof to the Lenders, the Issuing Lenders, or the Administrative Agent, in each case under or in respect of
        this Agreement, any Note, any Letter of Credit, or any of the other Loan Documents of every kind, nature and description, direct or indirect, absolute or contingent, due or to become due, contractual or tortious, liquidated or unliquidated, and
        whether or not evidenced by any note, and whether or not for the payment of money under or in respect of this Agreement, any Note, any Letter of Credit, or any of the other Loan Documents.

      

      

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

      

      

      “Original Borrower” has the meaning assigned to that term in the preamble hereto.

      

      

      “Other Taxes” means all present or future stamp, court, documentary, intangible, recording, filing or similar Taxes that arise from any
        payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, other than taxes owed directly by the
        applicable Borrower to any Governmental Authority, other than any of the foregoing that constitute Excluded Taxes.

      

      

      “Parent” means South Jersey Industries, Inc., a New Jersey corporation.

      

      

      “Participant” has the meaning assigned to that term in Section 9.09(d).

      

      

      “Participant Register” has the meaning assigned to that term in Section 9.09(d).

      

      

      “Patriot Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)).

      

      

      “PBGC” means the Pension Benefit Guaranty Corporation or any successor thereto.

      

      

      “Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which is subject to the provisions of Title IV of ERISA
        or Section 412 of the Code and which (a) is maintained for the employees of the applicable Borrower or any ERISA Affiliate thereof or (b) has at any time within the preceding six (6) years been maintained for the employees of the applicable
        Borrower or any current or former ERISA Affiliates thereof.

      

      

      “Permitted Commodity Hedging Obligations” means obligations of the applicable Borrower with respect to commodity agreements or other
        similar agreements or arrangements entered into in the ordinary course of business designed to protect against, or mitigate risks with respect to, fluctuations of commodity prices to which such Borrower or any Subsidiary thereof is exposed to in
        the conduct of its business so long as (a) the management of such Borrower has determined that entering into such agreements or arrangements are bona fide hedging activities which comply with such Borrower’s risk management policies and (b) such
        agreements or arrangements are not entered into for speculative purposes and are not of a speculative nature.

      

      

      
        18

        
          

      

      “Permitted Indebtedness” means, with respect to each Borrower, any of the following:

      

      

      (a)          Indebtedness under this Agreement;

      

      

      Indebtedness of the Original Borrower under the First Mortgage Notes existing as of the Closing Date and as identified on Schedule IV attached hereto, as may be amended, modified, restated,
        amended and restated, or renewed from time to time, and subsequent First Mortgage Notes, so long as before and immediately after the incurrence of such Indebtedness or such amendment, modification, restatement, amendment and restatement or renewal,
        the Borrower is in compliance with Section 6.04;

      

      

      Any Indebtedness (other than the type described in clause (d) below) of such Borrower so long as before and immediately after the incurrence of such Indebtedness, such Borrower is in compliance
        with Section 6.04;

      

      

      Indebtedness of such Borrower under Hedging Obligations covering a notional amount not to exceed the face amount of outstanding Indebtedness; and

      

      

      Indebtedness of the Original Borrower under the PNC Credit Agreement.

      

      

      “Permitted Investments” means, any of (a) with respect to each Borrower or any Subsidiary thereof, any Investment or Acquisition, or any
        expenditure or any incurrence of any liability to make any expenditure for an Investment or Acquisition, other than (i) any Investment or Acquisition the result of which would be to change substantially the nature of the business of such Borrower
        and its Subsidiaries, considered as a whole, as of the date of this Agreement, and reasonable extensions thereof, (ii) any Investment that is in the nature of a hostile or contested Acquisition, and (iii) any Investment that would result in a
        Default or Event of Default, (b) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency thereof maturing within one hundred twenty (120) days from the date of acquisition thereof, (c) commercial paper
        maturing no more than one hundred twenty (120) days from the date of creation thereof and currently having the highest rating obtainable from either S&P or Moody’s, (d) certificates of deposit or money market deposit maturing no more than one
        hundred twenty (120) days from the date of creation thereof issued by commercial banks incorporated under the laws of the United States, each having combined capital, surplus and undivided profits of not less than $500,000,000 and having a rating
        in the “A” category or better by a nationally recognized rating agency; provided that the aggregate amount invested in such certificates of deposit shall not at any time exceed $5,000,000 for any one such deposit and $10,000,000 for any one such
        bank, or (e) time deposits maturing no more than thirty (30) days from the date of creation thereof with commercial banks or savings banks or savings and loan associations each having membership either in the FDIC or the deposits of which are
        insured by the FDIC and in amounts not exceeding the maximum amounts of insurance thereunder; provided that, notwithstanding the foregoing, so long as the definition of “Permitted Investment” in the PNC
        Credit Agreement is more restrictive than the foregoing definition, then such definition of “Permitted Investment” in the PNC Credit Agreement shall be deemed automatically incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis.

      

      

      
        19

        
          

      

      “Permitted Liens” means, with respect to any Person, any of the following:

      

      

      (a)          Liens for taxes, assessments or governmental charges not delinquent or being contested in good faith and by appropriate proceedings and for which adequate reserves in accordance with
        GAAP are maintained on such Person’s books;

      

      

      Liens arising out of deposits in connection with workers’ compensation, unemployment insurance, old age pensions or other social security or retirement benefits legislation;

      

      

      Deposits or pledges to secure bids, tenders, contracts (other than contracts for the payment of money), leases, statutory obligations, surety and appeal bonds, and other obligations of like nature
        arising in the ordinary course of such Person’s business, including, without limitation, deposits and pledges of funds securing Permitted Commodity Hedging Obligations;

      

      

      Liens imposed by law, such as mechanics’, workers’, materialmen’s, carriers’ or other like liens arising in the ordinary course of such Person’s business which secure the payment of obligations
        which are not past due or which are being diligently contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP are maintained on such Person’s books;

      

      

      Rights of way, zoning restrictions, easements and similar encumbrances affecting such Person’s real property which do not materially interfere with the use of such property;

      

      

      Liens securing Permitted Indebtedness of the type described in clause (b) of “Permitted Indebtedness”;

      

      

      Liens securing Permitted Indebtedness, of the type described in clause (c) of the definition of “Permitted Indebtedness,” not in excess of $20,000,000 in the aggregate; and

      

      

      Purchase money security interests for the purchase of equipment to be used in such Person’s business, encumbering only the equipment so purchased and the proceeds thereof, and which secures only
        the purchase-money Indebtedness incurred to acquire the equipment so purchased, which Indebtedness qualifies as Permitted Indebtedness.

      

      

      “Person” means an individual, partnership, corporation (including, without limitation, a business trust), joint stock company, limited
        liability company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency thereof.

      

      

      “Platform” means Debt Domain, Intralinks, SyndTrak or a substantially similar electronic transmission system.

      

      

      “PNC Credit Agreement” means that certain Term Loan Credit Agreement dated as of January 26, 2017 among the Original Borrower, PNC Bank,
        National Association, as administrative agent, and the other financial institutions party thereto, as may be modified, amended, restated or amended and restated from time to time.

      

      

      
        20

        
          

      

      “PNC Fee Letter” means that certain fee letter dated June 28, 2017, among the Original Borrower, PNC Capital Markets LLC and PNC Bank,
        National Association.

      

      

      “Prime Rate” means, at any time, the rate of interest per annum publicly announced from time to time by the Administrative Agent as its
        prime rate.  Each change in the Prime Rate shall be effective as of the opening of business on the day such change in such Prime Rate occurs.  The parties hereto acknowledge that the rate announced publicly by the Administrative Agent as its Prime
        Rate is an index or base rate and shall not necessarily be its lowest or best rate charged to its customers or other banks.

      

      

      “Private Lenders” means any Lenders that are not Public Lenders.

      

      

      “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from
        time to time.

      

      

      “Public Lenders” has the meaning assigned to that term in Section 6.03.

      

      

      “Rating Agency” means S&P and/or Moody’s.

      

      

      “Register” has the meaning assigned to that term in Section 9.09(c).

      

      

      “Regulatory Change” means, with respect to any Lender or Issuing Lender, any change effective after the Closing Date in Applicable Law
        (including without limitation, Regulation D of the Board of Governors of the Federal Reserve System) or the adoption or making after such date of any interpretation, directive or request applying to a class of banks, including such Lender, of or
        under any Applicable Law (whether or not having the force of law and whether or not failure to comply therewith would be unlawful) by any Governmental Authority or monetary authority charged with the interpretation or administration thereof or
        compliance by any Lender or Issuing Lender with any request or directive regarding capital adequacy including but not limited to all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel
        Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III;  provided, however, that notwithstanding anything herein to the contrary, the
        Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith, shall be deemed to be a “Regulatory Change”, regardless of the date enacted, adopted or
        issued.

      

      

      “Reimbursement Obligation” means, with respect to each Borrower, the obligation of such Borrower to reimburse any Issuing Lender for
        amounts drawn under Letters of Credit issued by such Issuing Lender.

      

      

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

      

      

      “Required Lenders” means Lenders whose aggregate Commitment Percentages total more than 50%; provided that the Commitment of, and the
        portion of the Letters of Credit, as applicable, held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.

      

      

      
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      “Resignation Effective Date” has the meaning assigned to that term in Section 8.06(a).

      

      

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

      

      

      “Revolving Credit Facility” means the revolving credit facility established pursuant to Article II.

      

      

      “Revolving Loans” means those Base Rate Loans and LIBOR Rate Loans made pursuant to Section
          2.01.

      

      

      “Revolving Loan Notes” means the promissory notes of the Borrowers in favor of each Lender evidencing the Revolving Loans made to the
        Borrowers and substantially in the form of Exhibit A-1, as such promissory notes may be amended, modified, supplemented or replaced from time to time.

      

      

      “Sanctioned Country” means a country, territory or region which is at any time subject or target of any Sanctions (including, without
        limitation, Cuba, Iran, North Korea, Syria and Crimea).

      

      

      “Sanctioned Person” means, at any time, (a) a Person listed in any Sanctions-related list of designated Persons maintained by OFAC, the
        U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or
        controlled by any such Person or Persons described in clauses (a) and (b).

      

      

      “Sanctions” means any sanction administered or enforced by the United States Government (including without limitation, OFAC), the United
        Nations Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority.

      

      

      “Satisfaction of the SJIU Sublimit Conditions” means the passage of five Business Days following the delivery of the SJIU Projections to
        the Administrative Agent and the Lenders, so long as the Administrative Agent shall not have received a written objection, provided any such objection is made on a reasonable basis, to such SJIU Projections from the Required Lenders during such
        period.

      

      

      “S&P” means S&P Global Ratings, a business unit of S&P Global Inc.

      

      

      “Second Amendment” means the Second Amendment to Five-Year Revolving Credit Agreement, dated as of the Second Amendment Effective Date,
        among the Borrowers, the Lenders and the Administrative Agent.

      

      

      “Second Amendment Effective Date” means June 7, 2019.

      

      

      
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      “Significant Subsidiary” means, with respect to any Person, a Subsidiary which meets any of the
        following conditions:

      

      

      (a)          such Person’s and its other Subsidiaries’ investments in and advances to the Subsidiary exceed 10% of the total assets of such Person and its Consolidated Subsidiaries as of the end of
        the most recently completed fiscal quarter;

      

      

      such Person’s and its other Subsidiaries’ proportionate share (as determined by ownership interests) of the total assets (after intercompany eliminations) of the Subsidiary exceeds 10% of the total
        assets of such Person and its Consolidated Subsidiaries as of the end of the most recently completed fiscal quarter; or

      

      

      such Person’s and its other Subsidiaries’ proportionate share (as determined by ownership interests) in the income from continuing operations before income taxes, extraordinary items and cumulative
        effect of changes in accounting principles of the Subsidiary exceeds 10% of such income of such Person and its Consolidated Subsidiaries for the most recently completed fiscal quarter.

      

      

      “SJI Credit Agreement” means the Five-Year Revolving Credit Agreement, dated August 7, 2017, among Parent, the lenders party thereto, and
        Wells Fargo Bank as administrative agent, as amended, modified, restated, or amended and restated from time to time.

      

      

      “SJIU” has the meaning assigned to that term in the preamble hereto.

      

      

      “SJIU Projections” means the projections prepared by management of SJIU consisting of balance sheets, income statements and cash flow
        statements of SJIU and its Consolidated Subsidiaries on an annual basis for the fiscal years ending December 31, 2019, December 31, 2020 and December 31, 2021, which shall have been prepared in good faith on the basis of the assumptions stated
        therein, which assumptions shall be believed to be reasonable in light of then existing conditions except that such financial projections and statements shall be subject to normal year end closing and audit adjustments (it being recognized by the
        Lenders that projections are not to be viewed as facts and that the actual results during the period or periods covered by such projections may vary from such projections).

      

      

      “Solvent” means, with respect to any Person, that such Person (a) has capital sufficient to carry on its business and transactions and
        all business and transactions in which it is about to engage and is able to pay its debts as they mature, (b) owns property having a value, both at fair valuation and at present fair saleable value, greater than the amount required to pay its
        probable liabilities (including contingencies), and (c) does not believe that it will incur debts or liabilities beyond its ability to pay such debts or liabilities as they mature.

      

      

      “Stated Termination Date” means August 12, 2022, or such later date to which the Stated Termination Date may be extended pursuant to Section
          2.18.

      

      

      “Sublimit” means, with respect to each Borrower, its Initial Sublimit, as the same may be modified from time to time pursuant to Section
          2.06(c) or Section 2.08(f); provided that a Borrower’s Sublimit shall at no time exceed its Maximum Sublimit or be less than its Minimum Sublimit.

      

      

      
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      “Sublimit Adjustment Letter” means a letter substantially in the form of Exhibit I.

      

      

      “Subsidiary” means, with respect to any Person, any corporation or unincorporated entity of which more than 50% of the outstanding
        capital stock (or comparable interest) having ordinary voting power (irrespective of whether at the time capital stock (or comparable interest) of any other class or classes of such corporation or entity shall or might have voting power upon the
        occurrence of any contingency) is at the time directly or indirectly owned by said Person (whether directly or through one of more other Subsidiaries).  In the case of an unincorporated entity, a Person shall be deemed to have more than 50% of
        interests having ordinary voting power only if such Person’s vote in respect of such interests comprises more than 50% of the total voting power of all such interests in the unincorporated entity.

      

      

      “Swingline Borrowing” means a borrowing hereunder consisting of Swingline Loans made to a Borrower.

      

      

      “Swingline Commitment” means the lesser of (a) $20,000,000 and (b) the
        Commitments.

      

      

      “Swingline Lender” means Wells Fargo Bank, in its capacity as swingline
        lender hereunder, together with its successors and permitted assigns in such capacity.

      

      

      “Swingline Loan” means the swingline loans made by the Swingline Lender to a
        Borrower pursuant to Section 2.02, and all such loans collectively as the context requires.

      

      

      “Swingline Note” means the promissory note of the Borrowers in favor of the
        Swingline Lender evidencing the Swingline Loans made to the Borrowers and substantially in the form of Exhibit A-2, as such promissory note may be amended, modified, supplemented or replaced from time to time.

      

      

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

      

      

      “Termination Date” means the earliest of (a) the Stated Termination Date, (b) the date of termination by the Borrowers of the Commitments
        in full pursuant to Section 2.06, and (c) the date of termination of the Commitments pursuant to Section 7.02(a).

      

      

      “Termination Event” means, with respect to any Borrower, except for any such event or condition that could not reasonably be expected to
        have a Material Adverse Effect:  (a) a “Reportable Event” described in Section 4043 of ERISA for which the notice requirement has not been waived by the PBGC, or (b) the withdrawal of such Borrower or any ERISA Affiliate thereof from a Pension Plan
        during a plan year in which it was a “substantial employer” as defined in Section 4001(a)(2) of ERISA, or (c) the termination of a Pension Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan
        amendment as a termination, under Section 4041 of ERISA, if the plan assets are not sufficient to pay all plan liabilities, or (d) the institution of proceedings to terminate, or the appointment of a trustee with respect to, any Pension Plan by the
        PBGC, or (e) any other event or condition which would constitute grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan, or (f) the imposition of a Lien pursuant to Section 430
        of the Code or Section 303 of ERISA, or (g) the partial or complete withdrawal of such Borrower or any ERISA Affiliate thereof from a Multiemployer Plan if withdrawal liability is asserted by such plan, or (h) any event or condition which results
        in the insolvency of a Multiemployer Plan under Section 4245 of ERISA, or (i) any event or condition which results in the termination of a Multiemployer Plan under Section 4041A of ERISA or the institution by PBGC of proceedings to terminate a
        Multiemployer Plan under Section 4042 of ERISA.

      

      

      
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      “Type” means a type of Loan, being either a LIBOR Rate Loan or a Base Rate Loan, as applicable.

      

      

      “UCC” means the Uniform Commercial Code as in effect in the State of New York, as amended or modified from time to time.

      

      

      “Uniform Customs” means the Uniform Customs and Practice for Documentary Credits (1993 Revision), effective January, 1994 International
        Chamber of Commerce Publication No. 600.

      

      

      “Utilities Financial Statements” means, collectively, (i) the audited consolidated balance sheet of South Jersey Gas Company and its
        Consolidated Subsidiaries, as at December 31, 2018, and the related consolidated statements of income, retained earnings and cash flows of South Jersey Gas Company and its Consolidated Subsidiaries for the fiscal year then ended, and the unaudited
        consolidated balance sheet of South Jersey Gas Company and its Consolidated Subsidiaries, as at March 31, 2019, and the related consolidated statements of income, retained earnings and cash flows of South Jersey Gas Company and its Consolidated
        Subsidiaries for the fiscal quarter then ended and (ii) the audited consolidated balance sheet of Elizabethtown Gas Company and its Consolidated Subsidiaries, as at December 31, 2018, and the related consolidated statements of income, retained
        earnings and cash flows of Elizabethtown Gas Company and its Consolidated Subsidiaries for the fiscal year then ended, and the unaudited consolidated balance sheet of Elizabethtown Gas Company and its Consolidated Subsidiaries, as at March 31,
        2019, and the related consolidated statements of income, retained earnings and cash flows of Elizabethtown Gas Company and its Consolidated Subsidiaries for the fiscal quarter then ended.

      

      

      “Wells Fargo Bank” has the meaning assigned to that term in the preamble hereto.

      

      

      “Wells Fargo Fee Letter” means that certain fee letter dated June 28, 2017,
        among the Original Borrower, Wells Fargo Securities, LLC and the Administrative Agent.

      

      

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

      

      

      Computation of Time Periods.  In this Agreement, in the computation of a period of time from a specified date to a later specified date, the word “from”
        means “from and including” and the words “to” and “until” each means “to but excluding” and the word “through” means “to and including”.

      

      

      
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      Accounting Terms and Determinations.

      

      

      All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations)
        required to be submitted pursuant to this Agreement shall be prepared in conformity with GAAP, applied on a consistent basis, as in effect from time to time and in a manner consistent with that used in preparing the audited financial statements
        required by Section 6.03, except as otherwise specifically prescribed herein.  Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained
        herein, Indebtedness of the Borrowers and their respective Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be
        disregarded.  If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrowers or the Required Lenders shall so request, the Administrative Agent, the
        Lenders and the Borrowers shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided
        that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrowers shall provide to the Administrative Agent and the Lenders financial statements and other
        documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.

      

      

      Any financial ratios required to be maintained by any 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 or percentage is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number).

      

      

      Unless otherwise expressly provided herein, (a) references to formation documents, governing 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 not prohibited by any Loan
        Document; and (b) references to any Applicable Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Applicable Law.

      

      

      Terminology.  With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document:  (a) the
        definitions of terms herein shall apply equally to the singular and plural forms of the terms defined, (b) whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms, (c) the words “include”,
        “includes” and “including” shall be deemed to be followed by the phrase “without limitation”, (d) the word “will” shall be construed to have the same meaning and effect as the word “shall”, (e) any reference herein to any Person shall be construed
        to include such Person’s successors and assigns, (f) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (g) all
        references herein to “Articles,” “Sections,” “Exhibits” and “Schedules” shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (h) the words “asset” and “property” shall be construed to have the same
        meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights, (i) 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, and (j) 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.

      

      

      
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      Use of Defined Terms.  All terms defined in this Agreement shall have the same meanings when used in any of the other Loan Documents, unless otherwise
        defined therein or unless the context shall otherwise require.

      

      

      Divisions.  For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under
        a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to
        the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its equity interest at such time.

      

      

      LOANS

      

      

      Revolving Loans.

      

      

      Subject to the terms and conditions of this Agreement, and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make its Commitment Percentage of
        Revolving Loans to each Borrower from time to time from the Closing Date to, but not including, the Termination Date, as requested by such Borrower in accordance with the terms of Sections 2.03(a)(i) or as set forth in Section 3.05;
        provided, that after giving effect to any amount requested and the application of the proceeds thereof (i) the Extensions of Credit shall not exceed the Commitments; (ii) the Revolving Credit Exposure of any
        Lender shall not at any time exceed such Lender’s Commitment and (iii) the Extensions of Credit made to any Borrower shall not at any time exceed such Borrower’s Sublimit.  Each Revolving Loan by a Lender shall be in a principal amount equal to
        such Lender’s Commitment Percentage multiplied by the aggregate principal amount of Revolving Loans requested on such occasion.

      

      

      Subject to the terms and conditions hereof, each Borrower may borrow, repay and reborrow Revolving Loans prior to the Termination Date.  In addition, each Borrower will repay, by means of a
        reborrowing hereunder or otherwise, each Base Rate Loan made to such Borrower within 365 days of when it was made.

      

      

      Except as otherwise provided in Section 3.05, Revolving Loans shall be disbursed in accordance with Section 2.03(d)(i).

      

      

      
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      Swingline Loans.

      

      

      Availability.

      

      

      Subject to the terms and conditions of this Agreement, and in reliance upon the representations and warranties set forth herein, the Swingline Lender agrees to make Swingline
        Loans to each Borrower from time to time from the Closing Date through, but not including, the Termination Date, as requested by such Borrower in accordance with the terms of Section 2.03(a)(ii); provided,
        that after giving effect to any amount requested and the application of the proceeds thereof (A) the Extensions of Credit shall not exceed the Commitments; (B) the aggregate principal amount of all Swingline Loans then outstanding shall not exceed
        the Swingline Commitment.  Each Lender acknowledges that the aggregate principal amount of all outstanding Swingline Loans made by the Swingline Lender, when taken together with the aggregate principal amount of all outstanding Revolving Loans made
        by the Swingline Lender, may exceed the Swingline Lender’s Commitment and (C) the Extensions of Credit made to any Borrower shall not at any time exceed such Borrower’s Sublimit.  Upon and during the continuance of a Default or an Event of Default
        with respect to a Borrower, such Borrower shall no longer have the option of requesting Swingline Loans and the Swingline Lender shall not be obligated to make Swingline Loans to such Borrower.  No more than one (1) Swingline Loan may be made on
        the same Business Day.

      

      

      Each Swingline Loan shall be in the aggregate principal amount of $500,000 or any multiple of $100,000 in excess thereof, or such lesser amount as shall be equal to the aggregate
        amount of the unborrowed Swingline Commitment on such date.

      

      

      Subject to the terms and conditions hereof, each Borrower may borrow, repay and reborrow Swingline Loans prior to the Termination Date.

      

      

      Swingline Loans shall be disbursed in accordance with Section 2.03(d)(ii).

      

      

      Maturity.  Each Swingline Loan shall be repaid by the applicable Borrower no later than fourteen (14) days from the date such Swingline Loan was made.

      

      

      Risk Participation; Refunding.

      

      

      Immediately upon the making of a Swingline Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swingline Lender a risk
        participation in such Swingline Loan in an amount equal to the product of such Lender’s Commitment Percentage times the principal amount of such Swingline Loan.

      

      

      Swingline Loans (including accrued and unpaid interest thereon) shall be refinanced fully by the Lenders on demand by the Swingline Lender.  Such refinancing shall be made by the
        Lenders as if the applicable Borrower had timely given a Notice of Borrowing to the Administrative Agent requesting that the Lenders make a Revolving Loan bearing interest at the Base Rate plus the Applicable Base Rate Margin on such date in the
        amount to be refinanced, and such Swingline Loans shall thereafter be reflected as Revolving Loans of the Lenders on the books and records of the Administrative Agent; provided, that any refinancings under this Section 2.02(c)(ii) shall be
        subject to Section 2.01(a) and Section 4.02.  No Lender’s obligation to fund its respective Commitment Percentage of a Swingline Loan under this Section 2.02(c)(ii) shall be affected by any other Lender’s failure to fund its
        Commitment Percentage of a Swingline Loan, nor shall any Lender’s Commitment Percentage be increased as a result of any such failure of any other Lender to fund its Commitment Percentage of a Swingline Loan.

      

      

      
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      The applicable Borrower shall pay to the Swingline Lender on demand the amount of such Swingline Loans (including accrued and unpaid interest thereon) to the extent amounts
        received from the Lenders pursuant to Section 2.02(c)(ii) are not sufficient to repay in full the outstanding Swingline Loans required to be refunded.  In addition, each Borrower hereby authorizes the Administrative Agent and the Swingline
        Lender to charge any account maintained by such Borrower or any Subsidiary of such Borrower with the Swingline Lender (up to the amount available therein) in order to immediately pay the Swingline Lender the amount of such Swingline Loans to the
        extent amounts received from the Lenders are not sufficient to repay in full the outstanding Swingline Loans requested or required to be refunded.  If any payment received by the Swingline Lender in respect of principal or interest on any Swingline
        Loan is required to be returned by the Swingline Lender under any of the circumstances described in Section 9.18 (including pursuant to any settlement entered into by the Swingline Lender in its discretion), each Lender shall pay to the
        Swingline Lender its Commitment Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds Rate.  The
        Administrative Agent will make such demand upon the request of the Swingline Lender.  The obligations of the Lenders under this clause shall survive the payment in full of all Obligations and the termination of this Agreement.

      

      

      Each Lender agrees and acknowledges that if, for any reason, any unreimbursed Swingline Loan cannot be refinanced by a Revolving Loan pursuant to Section 2.02(c)(ii),
        each Lender shall fund its risk participation in such Swingline Loan purchased in accordance with Section 2.02(c)(i) by immediately transferring to the Swingline Lender, in immediately available funds, the amount of its risk participation. 
        Whenever, at any time after the Swingline Lender has received from any Lender such Lender’s risk participation in a Swingline Loan, the Swingline Lender receives any payment on account thereof, the Swingline Lender will distribute to such Lender
        its risk participation in such amount (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s risk participation was outstanding and funded).  Each Lender’s obligation to fund risk
        participations in Swingline Loans pursuant to this Section 2.02(c)(iv) 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 Swingline Lender, any Borrower or any other Person for any reason whatsoever, or (B) the occurrence of a Default or Event of Default.  No such funding of risk participations shall relieve or otherwise impair the
        obligation of any Borrower to repay Swingline Loans, together with interest as provided herein.

      

      

      
        29

        
          

      

      In addition to Section 8.06(b), the Swingline Lender may resign at any time by giving written notice thereof to the Lenders and the Borrowers, with any such resignation to become effective
        only upon the appointment of a successor Swingline Lender pursuant to this Section 2.02(d).  Upon any such resignation, the Required Lenders shall have the right to appoint a successor Swingline Lender, which shall be a Lender or an
        assignee acceptable to the Borrowers.  If no successor Swingline Lender shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after the retiring Swingline Lender’s giving of notice of
        resignation, then the retiring Swingline Lender may, on behalf of the Lenders, appoint a successor Swingline Lender, which shall be a Lender or an assignee.  Upon the acceptance of any appointment as Swingline Lender hereunder by a successor
        Swingline Lender, such successor Swingline Lender shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Swingline Lender.

      

      

      Procedure for Advances of Loans.

      

      

      Requests for Borrowing.

      

      

      Revolving Loans.

      

      

      Base Rate Loans.  By no later than 11:00 a.m. (Charlotte, North Carolina time) on the Business Day of any Borrower’s request for a borrowing of a Base Rate Loan, such
        Borrower shall submit to the Administrative Agent a written notice in the form attached hereto as Exhibit B (a “Notice of Borrowing”), which such Notice of Borrowing shall set
        forth (I) the amount requested and (II) the desire to have such Loans accrue interest at the Base Rate.  A Notice of Borrowing received after 11:00 a.m. (Charlotte, North Carolina time) shall be deemed received on the next Business Day.  The
        Administrative Agent shall promptly notify the Lenders of each Notice of Borrowing.

      

      

      LIBOR Rate Loans.  By no later than 11:00 a.m. (Charlotte, North Carolina time) on the third Business Day prior to the date of any Borrower’s request for a borrowing of a
        LIBOR Rate Loan, such Borrower shall submit a Notice of Borrowing of a LIBOR Rate Loan to the Administrative Agent, which such Notice of Borrowing shall set forth (I) the amount requested, (II) the desire to have such Loans accrue interest at the
        LIBOR Rate and (III) the Interest Period applicable thereto.  A Notice of Borrowing received after 11:00 a.m. (Charlotte, North Carolina time) shall be deemed received on the next Business Day.  The Administrative Agent shall promptly notify the
        Lenders of each Notice of Borrowing.

      

      

      Swingline Loans.  By no later than 1:00 p.m. (Charlotte, North Carolina time) on the Business Day of the proposed Swingline Loan, the applicable Borrower shall submit to
        the Administrative Agent a written notice in the form attached hereto as Exhibit C (a “Notice of Swingline Borrowing”), which such Notice of Swingline Borrowing shall specify (A)
        the date of such borrowing, which shall be a Business Day, (B) the aggregate amount of such borrowing, and (C) whether such proposed Swingline Loan will bear interest at a rate per annum for each day that such Swingline Loan is outstanding at
        either (I) the LIBOR Market Index Rate plus the Applicable LIBOR Margin or (II) the Base Rate plus the Applicable Base Rate Margin.  A Notice of Swingline Borrowing received after 1:00 p.m. (Charlotte, North Carolina time) shall be deemed received
        on the next Business Day.  The Administrative Agent shall promptly notify the Lenders of each Notice of Swingline Borrowing received by the Administrative Agent.

      

      

      
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      Each Notice of Borrowing and Notice of Swingline Borrowing shall be irrevocable and binding on the applicable Borrower.  In the case of any borrowing that the related Notice of Borrowing specifies
        is to comprise LIBOR Rate Loans, the applicable Borrower shall indemnify the applicable Lender against any loss, cost or expense incurred by such Lender as a result of any failure of such Borrower to fulfill on or before the date specified in such
        Notice of Borrowing for such Loans, the applicable conditions set forth in Article IV, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or redeployment of
        deposits or other funds acquired by such Lender as part of such borrowing.

      

      

      Each Revolving Loan shall be in an aggregate principal amount of $5,000,000 or any multiple of $1,000,000 in excess thereof (except that any such Revolving Loan may be in the aggregate amount of
        the unborrowed Commitments on such date).

      

      

      Disbursement of Loans.

      

      

      Revolving Loans.  Not later than 2:00 p.m. (Charlotte, North Carolina time) on the proposed borrowing date, each Lender will make available to the Administrative Agent,
        for the account of the applicable Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, as applicable, such Lender’s Commitment Percentage multiplied by the Revolving Loans to be made on
        such borrowing date.  Subject to Section 3.05, upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such borrowing is the initial Extension of Credit, Section 4.01), the Administrative
        Agent shall make all funds so received available to the applicable Borrower in like funds as received by the Administrative Agent by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice
        substantially in the form of Exhibit D hereto (a “Notice of Account Designation”) delivered by such Borrower to the Administrative Agent or such other account as may be designated
        in writing by such Borrower to the Administrative Agent from time to time.  Revolving Loans to be made for the purpose of refunding Swingline Loans shall be made by the Lenders as provided in Section 2.02(c).

      

      

      Swingline Loans.  The Swingline Lender shall, before 2:00 p.m. (Charlotte, North Carolina time) on the date of such Swingline Borrowing, make available to the
        Administrative Agent for the account of the applicable Borrower in same day funds, the proceeds of such Swingline Borrowing.  Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such borrowing is the initial
        Extension of Credit, Section 4.01), the Administrative Agent shall make all funds so received available to the applicable Borrower in like funds as received by the Administrative Agent by crediting or wiring such proceeds to the
        deposit account of such Borrower identified in the most recent Notice of Account Designation delivered by such Borrower.  The Swingline Loans shall be included in the Commitments of the Lenders, and each Swingline Borrowing will reduce
        correspondingly the amount of the available Commitment of each Lender on a pro rata basis based on each Lender’s Commitment Percentage.

      

      

      
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      [Reserved]

      

      

      Fees.

      

      

      Each Borrower hereby agrees to pay to the Administrative Agent, for the ratable account of each Lender, a facility fee (the “Facility Fee”)
        equal to its Applicable Share of such Lender’s Commitment multiplied by a rate per annum equal to the “Facility Fee” under the definition of Applicable Margin for such Borrower from the date hereof to the Final Fee Payment Date, payable
        quarterly in arrears on the last day of each March, June, September and December, commencing September 30, 2017, and on the Final Fee Payment Date.

      

      

      Each Borrower hereby agrees to pay its Applicable Share of such other fees as are specified in the Fee Letters.

      

      

      Reduction of Commitments; Changes in Sublimits.

      

      

      Voluntary.

      

      

      Subject to Section 2.07(b)(i) and (ii), upon at least three Business Days’ notice, the Borrowers shall have the right to permanently terminate or reduce the
        aggregate unused amount of the Commitments at any time or from time to time; provided, that (A) each partial reduction shall be in an aggregate amount at least equal to $10,000,000 and in integral multiples
        of $1,000,000 in excess thereof, and (B) no reduction shall be made which would reduce the Commitments to an amount less than the then outstanding Extensions of Credit.  Any reduction of the Commitments shall be applied to the Commitment of each
        Lender according to its Commitment Percentage.  Any such reduction shall have the effect of reducing each Borrower’s Sublimit in an amount as designated by the Borrowers; provided that (x) no Sublimit of a Borrower shall be reduced to an
        amount less than its Minimum Sublimit and (y) the aggregate Sublimits must equal the aggregate Commitments.  Any reduction in (or termination of) the Commitments shall be permanent and may not be reinstated.

      

      

      Subject to Section 2.07(b)(iii), upon at least three Business Days’ notice, the Borrowers shall have the right to permanently terminate or reduce the aggregate unused
        amount of the Swingline Commitment at any time or from time to time; provided, that (A) each partial reduction shall be in an aggregate amount at least equal to $1,000,000 and in integral multiples of
        $1,000,000 in excess thereof, and (B) no reduction shall be made which would reduce the Swingline Commitment to an amount less than the sum of the then outstanding Swingline Loans.  Any reduction in (or termination of) the Swingline Commitment
        shall be permanent and may not be reinstated.

      

      

      Mandatory.

      

      

      On the Termination Date, the Commitments shall automatically and permanently be reduced to zero.

      

      

      
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      On the Current Stated Termination Date, the Commitments of Non-Consenting Lenders shall automatically and permanently be reduced to zero.

      

      

      Changes in Sublimits.

      

      

      So long as no Event of Default exists with respect to any Borrower and all of the representations and warranties of the Borrowers in this Agreement are true and correct in all
        material respects (except for representations and warranties qualified by materiality, which shall be true and correct in all respects), in each case, on and as of the date of a Sublimit Adjustment Letter with the same effect as if made on such
        date (or, if any such representation and warranty is expressly stated to have been made as of a specific date, as of such specific date), the Borrowers may, upon not less than three (3) Business Days’ notice to the Administrative Agent pursuant to
        a Sublimit Adjustment Letter, reallocate amounts of the Commitments among the respective Sublimits of the Borrowers (i.e., reduce the Sublimits of one or more Borrowers and increase the Sublimits of one or more other Borrowers by the same aggregate
        amount); provided that (i) a Borrower’s Sublimit may not be reduced to an amount less than (A) the outstanding Extensions of Credit made to such Borrower or (B) its Minimum Sublimit, (ii) the sum of the Sublimits of the respective Borrowers
        shall at all times equal the amount of the Commitments, (iii) a Borrower’s Sublimit may not be increased to an amount in excess of such Borrower’s Maximum Sublimit, and (iv) any such increase in a Borrower’s Sublimit shall be accompanied or
        preceded by evidence reasonably requested by the Administrative Agent as to appropriate corporate and governmental authorization therefor; provided further that, for the avoidance of doubt, in no event shall the Sublimit of SJIU be
        adjusted prior to the Satisfaction of the SJIU Sublimit Conditions.

      

      

      So long as no Event of Default exists with respect to a Borrower, such Borrower may, upon not less than three (3) Business Days’ notice to the Administrative Agent in form and
        substance satisfactory to the Administrative Agent, reduce or increase its Maximum Sublimit or Minimum Sublimit (but, for the avoidance of doubt, not its Sublimit) if such modification is required or requested by any Governmental Authority having
        jurisdiction over such Borrower to the amount so requested or required by such Governmental Authority; provided that any such reduction or increase in a Borrower’s Maximum Sublimit or Minimum Sublimit shall be accompanied or preceded by
        evidence of the applicable Governmental Authority’s request or order therefor.

      

      

      Prepayment of Loans.

      

      

      Voluntary Prepayments.  Each Borrower shall have the right to prepay Loans made to it in whole or in part from time to time without premium or penalty upon one Business Days’ prior written
        notice to the Administrative Agent; provided, that (i) LIBOR Rate Loans may only be prepaid on three Business Days’ prior written notice to the Administrative Agent and any prepayment of LIBOR Rate Loans
        will be subject to Section 2.12(e), (ii) each such partial prepayment of Loans (other than Swingline Loans) shall be in the minimum principal amount of $10,000,000, and (iii) each such partial prepayment of Swingline Loans shall be in a
        minimum principal amount of $500,000.  Amounts prepaid hereunder shall be applied first to Swingline Loans until paid in full, second to Base Rate Loans until paid in full and third to LIBOR Rate Loans, in direct order of Interest Period maturities
        until paid in full, pro rata among all Lenders based on their Commitment Percentages.

      

      

      
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      Mandatory Prepayments.

      

      

      If at any time either (A) the amount of the Extensions of Credit exceed the Commitments, or (B) the amount of the Extensions of Credit made to any Borrower exceed such Borrower’s
        Sublimit, the applicable Borrower shall immediately make a principal payment to the Administrative Agent for the ratable accounts of the Lenders in an aggregate amount necessary together with (x) accrued interest to the date of such prepayment on
        the principal amount repaid or prepaid and (y) in the case of prepayments of LIBOR Rate Loans, any amount payable to the Lenders pursuant to Section 2.12(e), so that the Extensions of Credit do not exceed the Commitments or the Extensions
        of Credit made to such Borrower do not exceed its Sublimit, as applicable.  Any payments made under this Section 2.07(b)(i) shall be applied first to Swingline Loans until paid in full, second to Base Rate Loans until paid in full and third
        to LIBOR Rate Loans in direct order of Interest Period maturities until paid in full, pro rata among all Lenders holding same.

      

      

      On each date on which the Commitments or the Sublimit of any Borrower are decreased pursuant to Section 2.06, the applicable Borrower shall pay or prepay to the
        Administrative Agent for the ratable accounts of the Lenders such principal amount of its outstanding Loans as shall be necessary, together with (A) accrued interest to the date of such prepayment on the principal amount repaid or prepaid and (B)
        in the case of prepayments of LIBOR Rate Loans, any amount payable to the Lenders pursuant to Section 2.12(e), so that the Extensions of Credit do not exceed the Commitments and the Extensions of Credit made to each Borrower do not exceed
        its Sublimit, as applicable.  Any payments made under this Section 2.07(b)(ii) shall be applied first to Swingline Loans until paid in full, second to Base Rate Loans until paid in full and third to LIBOR Rate Loans in direct order of
        Interest Period maturities until paid in full, pro rata among all Lenders holding same.

      

      

      On each date on which the Swingline Commitment is reduced pursuant to Section 2.06(a)(ii), each Borrower shall pay or prepay to the Administrative Agent for the ratable
        accounts of the Lenders or prepay such principal amount of its outstanding Swingline Loans, together with accrued interest to the date of such prepayment on the principal amount repaid or prepaid, if any, as may be necessary so that after such
        payment the aggregate unpaid principal amount of Swingline Loans does not exceed the amount of the Swingline Commitment as then reduced.

      

      

      On the Termination Date, each Borrower shall pay to the Administrative Agent for the ratable accounts of the Lenders, the outstanding principal amount of all Loans made to it,
        together with (A) accrued interest to the date of such payment on the principal amount repaid and (B) in the case of prepayments of LIBOR Rate Loans, any amount payable to the Lenders pursuant to Section 2.12(e).

      

      

      
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      Increase in Commitment.

      

      

      The Borrowers may increase the aggregate amount of the Commitments by an amount not greater than $50,000,000 (any such increase, a “Commitment
          Increase”) by designating either one or more of the existing Lenders (each of which, in its sole discretion, may determine whether and to what degree to participate in such Commitment Increase) or one or more assignees reasonably
        acceptable to the Administrative Agent that at the time agree, in the case of any existing Lender to increase its Commitment (an “Increasing Lender”) and, in the case of any other assignee
        (an “Additional Lender”), to become a party to this Agreement.  The sum of the increases in the Commitments of the Increasing Lenders pursuant to this Section 2.08 plus the
        Commitments of the Additional Lenders upon giving effect to the Commitment Increase shall not in the aggregate exceed the amount of the Commitment Increase or be less than $10,000,000 in the aggregate and integral multiples of $5,000,000 in excess
        thereof.  The Borrowers shall provide prompt notice of any proposed Commitment Increase pursuant to this Section 2.08 to the Administrative Agent, which shall promptly provide a copy of such notice to the Lenders.

      

      

      Any Commitment Increase shall become effective upon (i) the receipt by the Administrative Agent of (A) an agreement in form and substance reasonably satisfactory to the Administrative Agent signed
        by the Borrowers, each Increasing Lender and each Additional Lender, setting forth the new commitments and Commitment Percentage of each such Lender and setting forth  the agreement of each Additional Lender to become a party to this Agreement and
        to be bound by all the terms and provisions hereof binding upon each Lender, and (B) such evidence of appropriate corporate authorization on the part of the Borrowers with respect to the Commitment Increase and such opinions of counsel for the
        Borrowers with respect to the Commitment Increase as the Administrative Agent may reasonably request, (ii) the funding by each Increasing Lender and Additional Lender of the Loan(s) to be made by each such Lender described in paragraph (c) below,
        (iii) receipt by the Administrative Agent of the reasonable fees and expenses of the Administrative Agent and Lenders associated with such Commitment Increase, and (iv) receipt by the Administrative Agent of a certificate (the statements contained
        in which shall be true) of a duly authorized officer of the Borrowers stating that both before and after giving effect to such Commitment Increase (X) no Default or Event of Default has occurred and is continuing, and (Y) all representations and
        warranties made by the Borrowers in this Agreement are true and correct in all material respects as of the date of the Commitment Increase.

      

      

      If any Revolving Loans are outstanding upon the effective date of any Commitment Increase, each Increasing Lender and each Additional Lender shall provide funds to the Administrative Agent in the
        manner described in Section 2.03(d) in an amount equal to the product of (i) the aggregate outstanding principal amount of such Revolving Loans, expressed as a percentage of the aggregate Commitments (calculated, in each case, immediately
        after such Commitment Increase) and (ii) in the case of an Increasing Lender, such Increasing Lender’s Commitment Increase and, in the case of an Additional Lender, such Additional Lender’s Commitment.  The funds so provided by any such Lender
        shall be deemed to be a Revolving Loan or Revolving Loans made by such Lender on the date of such Commitment Increase, with such Loan(s) being in (A) in an amount equal to the product of (I) the aggregate outstanding principal amount of each
        Revolving Loan expressed as a percentage of the aggregate Commitments (calculated, in each case, immediately prior to such Commitment Increase) and (II) in the case of an Increasing Lender, such Increasing Lender’s Commitment Increase and, in the
        case of an Additional Lender, such Additional Lender’s Commitment and (B) of the same Type(s) and having the same Interest Period(s) as each Revolving Loan described in the preceding clause (A), such that after giving effect to such Commitment
        Increase and the Loans made on the date of such Commitment Increase, each Revolving Loan outstanding hereunder shall consist of Revolving Loans made ratably by all of the Lenders (after giving effect to such Commitment Increase).  The Borrowers
        shall pay to the Administrative Agent any amounts payable pursuant to Section 2.12(e) in connection with such Commitment Increase.

      

      

      
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      If any Swingline Loans or L/C Obligations are outstanding upon the effective date of any Commitment Increase, each Increasing Lender and each Additional Lender shall purchase from the Lenders an
        undivided participating interest in such Swingline Loans and/or L/C Obligations in an amount such that each Lender’s participating interest in such Swingline Loans and/or L/C Obligations is equal to its Commitment Percentage multiplied by the
        aggregate amount of the Swingline Loans and/or L/C Obligations, as applicable, after giving effect to the Commitment Increase.

      

      

      Notwithstanding any provision contained herein to the contrary, from and after the date of any Commitment Increase and the making of any Loans on such date pursuant to paragraph (c) above, all
        calculations and payments of Facility Fees and of interest on the Loans comprising any Loan shall take into account the actual Commitment of each Lender (including the Additional Lender) and the principal amount outstanding of each Loan made by
        each such Lender during the relevant period of time.

      

      

      In connection with any increase in the Commitments pursuant to this Section 2.08, the respective Sublimits and Maximum Sublimits of the Borrowers shall be increased by an equal aggregate
        amount as the Borrowers may direct by notice to the Administrative Agent, subject to the limitations set forth in Section 2.06.

      

      

      Evidence of Debt; Notes.

      

      

      Evidence of Debt.  The date, amount, type, interest rate and duration of Interest Period (if applicable) of each Loan made by each Lender to each Borrower, and each payment made on account
        of the principal thereof, shall be recorded by such Lender and by the Administrative Agent on its books; provided, that the failure of such Lender or the Administrative Agent to make any such recordation or
        endorsement shall not affect the obligations of any Borrower to make a payment when due of any amount owing hereunder or under any Note with respect of the Loans to be evidenced by such Note, and each such recordation or endorsement shall be
        conclusive and binding, absent manifest error.  In any legal action or proceeding in respect of this Agreement, the entries made in such account or accounts shall, in the absence of manifest error, be conclusive evidence of the existence and
        amounts of the Obligations of each Borrower therein recorded.  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.

      

      

      Revolving Loan Notes.  The Revolving Loans made by the Lenders to each Borrower shall be evidenced, upon request by any Lender, by Revolving Loan Notes in a principal amount equal to the
        amount of such Lender’s Commitment Percentage multiplied by the Commitments as originally in effect.

      

      

      
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      Swingline Note.  The Swingline Loans made by the Swingline Lender to each Borrower shall be evidenced, upon request by the Swingline Lender, by a Swingline Note in a principal amount equal
        to the Swingline Commitment.

      

      

      Interest Rates.

      

      

      Interest Rates.  Subject to the provisions of this Section, at the election of the applicable Borrower, (i) Loans (other than Swingline Loans) made to such Borrower shall bear interest at
        (A) the Base Rate plus the Applicable Base Rate Margin or (B) the LIBOR Rate plus the Applicable LIBOR Margin (provided that the LIBOR Rate shall not be available until three (3) Business Days after
        the Closing Date unless such Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 2.12(e) of this
        Agreement) and (ii) any Swingline Loan shall bear interest at either (X) the LIBOR Market Index Rate plus the Applicable LIBOR Margin or (Y) the Base Rate plus the Applicable Base Rate Margin.  The applicable Borrower shall select
        the Type and Interest Period, if applicable, for any Loan made to it at the time the applicable Notice of Borrowing is given or at the time the applicable Notice of Conversion/Continuation is given pursuant to Section 2.13.  Any Loan or any
        portion thereof as to which the applicable Borrower has not duly specified a Type as provided herein shall be deemed a Base Rate Loan.

      

      

      Interest Periods.  In connection with each LIBOR Rate Loan, the period commencing on the date of such LIBOR Rate Loan or the date of the Conversion of any Base Rate Loan into a LIBOR Rate 
        Loan and ending on the last day of the period selected by the applicable Borrower pursuant to the provisions below (“Interest Period”) and, thereafter, each subsequent period commencing on
        the last day of the immediately preceding Interest Period (or such other day as may be selected by such Borrower in accordance with the provisions hereof) and ending on the last day of the period selected by such Borrower pursuant to the provisions
        below.  The duration of each such Interest Period shall be seven days or one, two, three or six months (in each case subject to availability), as the applicable Borrower may select by notice to the Administrative Agent pursuant to Section
          2.03(a)(i)(B); provided, however, that:

      

      

      No Borrower may select any Interest Period with respect to any Revolving Loan that ends after the Termination Date, and in no event shall an Interest Period of any Revolving Loan
        extend beyond the Termination Date;

      

      

      whenever the last day of any Interest Period would otherwise occur on a day other than a Business Day, the last day of such Interest Period shall be extended to occur on the next
        succeeding Business Day; provided, that if such extension would cause the last day of such Interest Period to occur in the next following calendar month, the last day of such Interest Period shall occur on the next preceding Business Day; and

      

      

      any Interest Period for a LIBOR Rate Loan which begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the
        appropriate subsequent calendar month) shall end on the last Business Day of the appropriate subsequent calendar month; and

      

      

      
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      no more than eight (8) Interest Periods may be in effect at any time.

      

      

      Default Rate.  Subject to Section 7.02, immediately upon the occurrence and during the continuance of an Event of Default with respect to a Borrower, (i) such Borrower shall no
        longer have the option to request Loans or Letters of Credit, (ii) all outstanding LIBOR Rate Loans made to such Borrower shall bear interest at a rate per annum of two percent (2%) in excess of the rate (including the Applicable LIBOR Margin) then
        applicable to such LIBOR Rate Loans until the end of the applicable Interest Period and thereafter at a rate equal to two percent (2%) in excess of the rate (including the Applicable Base Rate Margin) then applicable to Base Rate Loans, and (iii)
        all outstanding Base Rate Loans made to such Borrower and other Obligations of such Borrower arising hereunder or under any other Loan Document shall bear interest at a rate per annum equal to two percent (2%) in excess of the rate (including the
        Applicable Base Rate Margin) then applicable to Base Rate Loans or such other Obligations arising hereunder or under any other Loan Document.  Interest shall continue to accrue on the Obligations of a Borrower after the filing by or against such
        Borrower of any petition seeking any relief in bankruptcy or under any act or law pertaining to insolvency or debtor relief, whether state, federal or foreign.

      

      

      Interest Payment and Computation.  (i) Interest on each Base Rate Loan and Swingline Loan shall be due and payable in arrears on the last Business Day of each calendar quarter commencing
        September 30, 2017; and (ii) interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto, and if such Interest Period extends over three (3) months, at the end of each three (3)-month
        interval during such Interest Period; provided, however, that accrued interest on any LIBOR Rate Loan (including any Swingline Loan bearing interest at the LIBOR Market Index Rate plus the Applicable LIBOR
        Margin) shall be payable in arrears on the date the outstanding principal of such LIBOR Rate Loan is repaid or any date such LIBOR Rate Loan is Converted to a Base Rate Loan.  All computations of interest for Base Rate Loans when the Base Rate is
        determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.  All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and
        actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

      

      

      Payments.  Each payment by the Borrowers on account of the principal of or interest on the Loans or of any fee, commission or other amounts (including any Reimbursement Obligation) payable
        to the Lenders under this Agreement (or any of them) shall be made not later than 1:00 p.m. (Charlotte, North Carolina time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office for
        the account of the Lenders entitled to such payment in Dollars, in immediately available funds and shall be made without any set off, counterclaim or deduction whatsoever.  Any payment received after such time but before 2:00 p.m. on such day shall
        be deemed a payment on such date for the purposes of Section 7.01, but for all other purposes shall be deemed to have been made on the next succeeding Business Day.  Any payment received after 2:00 p.m. shall be deemed to have been made on
        the next succeeding Business Day for all purposes.  Upon receipt by the Administrative Agent of each such payment, the Administrative Agent shall distribute to each such Lender at its address for notices set forth herein its pro rata share of such payment based on its Commitment Percentage (or other applicable share as provided herein), and shall wire advice of the amount of such credit to each Lender.  Each payment to the
        Administrative Agent on account of the principal of or interest on a Swingline Loan or of any fee, commission or other amounts payable to the Swingline Lender shall be made in like manner, but for the account of the Swingline Lender.  Each payment
        to the Administrative Agent of the Issuing Lenders’ fees or L/C Participants’ commissions shall be made in like manner, but for the account of such Issuing Lender or the L/C Participants, as the case may be.  Each payment to the Administrative
        Agent of the Administrative Agent’s fees or expenses shall be made for the account of the Administrative Agent and any amount payable to any Lender under Sections 2.12(e), 2.14, 2.17, 9.05 or 9.07 shall be
        paid to the Administrative Agent for the account of the applicable Lender.  If any payment under this Agreement shall be specified to be made upon a day which is not a Business Day, it shall be made on the next succeeding day which is a Business
        Day and such extension of time shall in such case be included in computing any interest if payable along with such payment.

      

      

      
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      Maximum Rate.  In no contingency or event whatsoever shall the aggregate amount of all amounts deemed interest hereunder or under any of the Notes charged or collected pursuant to the terms
        of this Agreement or pursuant to any of the Notes exceed the highest rate permissible under any Applicable Law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto.  In the event that such a court
        determines that the Lenders have charged or received interest hereunder in excess of the highest applicable rate, the rate in effect hereunder shall automatically be reduced to the maximum rate permitted by Applicable Law and the Lenders shall at
        the Administrative Agent’s option promptly refund to the applicable Borrower any interest received by the Lenders in excess of the maximum lawful rate or shall apply such excess to the principal balance of the Obligations.  It is the intent hereof
        that no Borrower pay or contract to pay, and that neither the Administrative Agent nor any Lender receive or contract to receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by such Borrower under
        Applicable Law.

      

      

      Additional Interest on LIBOR Rate Loans.  The Borrowers shall pay to each Lender, so long as such Lender shall be required under regulations of the Board of
        Governors of the Federal Reserve System to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities and which are not required on the date of this Agreement, additional interest on the unpaid
        principal amount of each LIBOR Rate Loan of such Lender, from the date such LIBOR Rate Loan is made until such principal amount is paid in full, at the LIBOR Rate, payable on each date on which interest is payable on such LIBOR Rate Loan.  Such
        additional interest shall be determined by such Lender and notified to the applicable Borrower through the Administrative Agent and shall be conclusive, absent manifest error.

      

      

      Interest Rate Determination; Changed Circumstances.

      

      

      Interest Rate Determination.  The Administrative Agent shall give prompt notice to the applicable Borrower and the Lenders of the applicable interest rate determined by the Administrative
        Agent for purposes of Section 2.10.

      

      

      
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      Automatic Conversion.  If any Borrower shall fail to (i) select the duration of any Interest Period for any LIBOR Rate Loans requested by such Borrower in accordance with the provisions of Section
          2.10(b), (ii) provide a Notice of Conversion/Continuation with respect to any LIBOR Rate Loans made to such Borrower on or prior to 11:00 a.m., Charlotte, North Carolina time, on the third Business Day prior to the last day of the Interest
        Period applicable thereto, in the case of a Conversion to or in respect of LIBOR Rate Loans or (iii) satisfy the conditions set forth in Section 2.13 with respect to a Conversion, the Administrative Agent will forthwith so notify such
        Borrower and the Lenders and such LIBOR Rate Loans will automatically, on the last day of the then existing Interest Period therefor, Convert into Base Rate Loans.

      

      

      Circumstances Affecting LIBOR Rate Availability.  If, with respect to any LIBOR Rate Loans (or a conversion to or continuation thereof), (A) the Administrative Agent shall determine (which
        determination shall be conclusive and binding, absent manifest error) that Dollar deposits are not being offered to banks in the London interbank Eurodollar market for the applicable amount and Interest Period of such Loan, (B) the Required Lenders
        notify the Administrative Agent or the Administrative Agent shall determine (which determination shall be conclusive and binding absent manifest error) that reasonable and adequate means do not exist for the ascertaining the LIBOR Rate for such
        Interest Period with respect to a proposed LIBOR Rate Loan or (C) the Required Lenders shall determine (which determination shall be conclusive and binding absent manifest error) and notify the Administrative Agent that the LIBOR Rate for any
        Interest Period for such LIBOR Rate Loans will not adequately reflect the cost to such Required Lenders of making, funding or maintaining their respective LIBOR Rate Loans for such Interest Period, then the Administrative Agent shall forthwith so
        notify the Borrowers and the Lenders, whereupon:

      

      

      each LIBOR Rate Loan shall automatically Convert into a Base Rate Loan, and

      

      

      the obligation of the Lenders to make, or to Convert Base Rate Loans into, LIBOR Rate Loans shall be suspended until the Administrative Agent (based on notice from the Required
        Lenders) shall notify the Borrowers and the Lenders that the circumstances causing such suspension no longer exist, and

      

      

      the obligation of the Swingline Lender to make Swingline Loans bearing interest based on the LIBOR Market Index Rate shall be suspended until Administrative Agent (based on
        notice from the Required Lenders) shall notify the Borrowers and the Lenders that the circumstances causing such suspension no longer exist.

      

      

      
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          	•	
                  If at any time the Administrative Agent determines or is advised by the Required Lenders that they shall have determined (which determination shall, in each case, be conclusive absent manifest error) that (i) the circumstances set
                    forth in Section 2.12(c)(A) or (B) have arisen (including because LIBOR is not available or published on a current basis) and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in Section
                      2.12(c)(A) or (B) have not arisen but either (w) the supervisor for the administrator of LIBOR has made a public statement that the administrator of LIBOR is insolvent (and there is no successor administrator that will
                    continue publication of LIBOR), (x) the administrator of LIBOR has made a public statement identifying a specific date after which LIBOR will permanently or indefinitely cease to be published by it (and there is no successor
                    administrator that will continue publication of LIBOR), (y) the supervisor for the administrator of LIBOR has made a public statement identifying a specific date after which LIBOR will permanently or indefinitely cease to be published
                    or (z) the supervisor or the administrator of LIBOR or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which LIBOR may no longer be used for
                    determining interest rates for loans denominated in Dollars, then the Administrative Agent and the Borrowers shall endeavor to establish an alternate rate of interest to the LIBOR Rate that gives due consideration to the then prevailing
                    market convention in the United States for determining a rate of interest for syndicated loans denominated in Dollars at such time, and the Administrative Agent and the Borrowers shall enter into an amendment to this Agreement to
                    reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable (it being understood that such amendment shall not reduce the Applicable Margin); provided that if such alternate rate
                    of interest shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement. Notwithstanding anything to the contrary in Section 9.01, such amendment shall become effective without any further action or
                    consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within 5 Business Days of the date a copy of such amendment is provided to the Lenders, a written notice from the Required Lenders
                    stating that the Required Lenders object to such amendment. Until an alternate rate of interest shall be determined in accordance with this Section (but, in the case of the circumstances described in clause (ii) above, only to the
                    extent LIBOR for such Interest Period is not available or published at such time on a current basis), (A) each LIBOR Rate Loan shall automatically Convert into a Base Rate Loan, (B) the obligation of the Lenders to make, or to Convert
                    Base Rate Loans into, or to continue, LIBOR Rate Loans shall be suspended and (C) the obligation of the Swingline Lender to make Swingline Loans bearing interest based on the LIBOR Market Index Rate shall be suspended.

                

        

      

      

      

      Laws Affecting LIBOR Rate Availability.  If, after the date hereof, the introduction of, or any change in, any Applicable Law or any change in the interpretation or administration thereof by
        any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any of the Lenders (or any of their respective Lending Offices) with any request or directive (whether or not
        having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending Offices) to honor its obligations hereunder to make or
        maintain any LIBOR Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrowers and the other Lenders.  Thereafter, until the Administrative Agent
        notifies the Borrowers that such circumstances no longer exist, (i) the obligations of the Lenders to make LIBOR Rate Loans, and the right of the Borrowers to Convert any Loan or continue any Revolving Loan as a LIBOR Rate Loan shall be suspended
        and thereafter the Borrowers may request only Base Rate Loans and (ii) if any of the Lenders may not lawfully continue to maintain a LIBOR Rate Loan to the end of the then current Interest Period applicable thereto, the applicable LIBOR Rate Loan
        shall immediately be Converted to a Base Rate Loan for the remainder of such Interest Period.

      

      

      
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      Indemnity.  Each Borrower hereby indemnifies each of the Lenders against any loss or expense which may arise or be attributable to each Lender’s obtaining, liquidating or employing deposits
        or other funds acquired to effect, fund or maintain any Loan (i) as a consequence of any failure by such Borrower to make any payment when due of any amount due hereunder in connection with a LIBOR Rate Loan made to such Borrower, (ii) due to any
        failure of such Borrower to borrow, continue or Convert on a date specified therefor in a Notice of Borrowing or Notice of Conversion/Continuation delivered by such Borrower or (iii) due to any payment, prepayment or conversion of any LIBOR Rate
        Loan made to such Borrower on a date other than the last day of the Interest Period therefor.  The amount of such loss or expense shall be determined, in the applicable Lender’s reasonable discretion, based upon the assumption that such Lender
        funded its Commitment Percentage of the applicable LIBOR Rate Loans in the London interbank market and using any reasonable attribution or averaging methods which such Lender deems appropriate and practical.  A certificate of such Lender setting
        forth the basis for determining such amount or amounts necessary to compensate such Lender shall be forwarded to the applicable Borrower through the Administrative Agent and shall be conclusively presumed to be correct absent manifest error. 
        Without prejudice to the survival of any other agreement of any Borrower hereunder, the agreements and obligations of each Borrower, the Administrative Agent, the Lenders and the Issuing Lenders contained in this Section shall survive the payment
        in full of the Obligations and the termination of the Commitments.

      

      

      Voluntary Conversion of Loans.  Each Borrower may on any Business Day, by delivering an irrevocable Notice of Conversion/Continuation (a “Notice of Conversion/Continuation”) in the form of Exhibit E hereto to the Administrative Agent not later than 11:00 a.m., Charlotte, North Carolina time, on the third Business Day
        prior to the date of the proposed Conversion, and subject to the provisions of Sections 2.10, 2.15 and 4.03, Convert all Loans of one Type made simultaneously to such Borrower into Loans of the other Type; provided, that any Conversion of any LIBOR Rate Loans into Base Rate Loans shall be made on, and only on, the last day of an Interest Period for such LIBOR Rate Loans.

      

      

      Increased Costs.

      

      

      Increased Costs Generally.  If any Change in Law shall:

      

      

      impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of,
        or advances, loans or other credit extended or participated in by, any Lender (except any reserve requirement reflected in the LIBOR Rate) or Issuing Lender;

      

      

      subject any Lender or Issuing Lender to any tax of any kind whatsoever with respect to this Agreement, any Letter of Credit, any participation in a Letter of Credit or any LIBOR
        Rate Loan made by it, or change the basis of taxation of payments to such Lender or Issuing Lender in respect thereof (except for Indemnified Taxes or Other Taxes covered by Section 2.17 and the imposition of, or any change in the rate of
        any Excluded Tax payable by such Lender or Issuing Lender); or

      

      

      impose on any Lender or Issuing Lender or the London interbank market any other condition, cost or expense affecting this Agreement or LIBOR Rate Loans made by such Lender or any
        Letter of Credit or participation therein;

      

      

      
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      and the result of the foregoing shall be in the aggregate to increase the cost to such Lender of making, converting into or maintaining any LIBOR Rate Loan (or of maintaining its obligation to make any such Loan), or
        to increase the cost to such Lender or such Issuing Lender of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum
        received or receivable by such Lender or such Issuing Lender hereunder (whether of principal, interest or any other amount) then, upon written request of such Lender or such Issuing Lender, the applicable Borrower shall promptly pay to any such
        Lender or such Issuing Lender, as the case may be, such additional amount or amounts as will compensate such Lender or such Issuing Lender, as the case may be, for such additional costs incurred or reduction suffered.  Without prejudice to the
        survival of any other agreement of any Borrower hereunder, the agreements and obligations of each Borrower, the Administrative Agent, the Lenders and the Issuing Lenders contained in this Section shall survive the payment in full of the Obligations
        and the termination of the Commitments.

      

      

      Capital Requirements.  If any Lender or Issuing Lender determines that any Change in Law affecting such Lender or Issuing Lender or any lending office of such Lender or such Lender’s or
        Issuing Lender’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or Issuing Lender’s capital or on the capital of such Lender’s or Issuing Lender’s
        holding company, if any, as a consequence of this Agreement, the Commitment of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Lender, to a level below
        that which such Lender or Issuing Lender or such Lender’s or Issuing Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or Issuing Lender’s policies and the policies of such Lender’s or
        Issuing Lender’s holding company with respect to capital adequacy and liquidity), then from time to time upon written request of such Lender or such Issuing Lender the applicable Borrower shall promptly pay to such Lender or Issuing Lender, as the
        case may be, such additional amount or amounts as will compensate such Lender or Issuing Lender or such Lender’s or Issuing Lender holding company for any such reduction suffered.  Without prejudice to the survival of any other agreement of any
        Borrower hereunder, the agreements and obligations of each Borrower, the Administrative Agent, the Lenders and the Issuing Lenders contained in this Section shall survive the payment in full of the Obligations and the termination of the
        Commitments.

      

      

      Certificates for Reimbursement.  A certificate of a Lender or Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or Issuing Lender or its holding company,
        as the case may be, as specified in paragraph (a) or (b) of this Section and delivered to the applicable Borrower shall be conclusive absent manifest error.  Such Borrower shall pay such Lender or Issuing Lender, as the case may be, the amount
        shown as due on any such certificate within ten (10) days after receipt thereof.

      

      

      Delay in Requests.  Failure or delay on the part of any Lender or Issuing Lender to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s or Issuing
        Lender’s right to demand such compensation; provided that no Borrower shall be required to compensate a Lender or Issuing Lender pursuant to this Section for any increased costs incurred or reductions
        suffered more than nine (9) months prior to the date that such Lender or Issuing Lender, as the case may be, notifies such Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or Issuing Lender’s
        intention to claim compensation therefor (except that if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect
        thereof).

      

      

      
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      Illegality.  Notwithstanding any other provision of this Agreement, if any Lender shall notify the Administrative Agent that the introduction of or any
        change in or in the interpretation of any law or regulation (in each case made after the date hereof) makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for any Lender or its Lending Office to
        perform its obligations hereunder to make LIBOR Rate Loans, or to fund or maintain LIBOR Rate Loans hereunder, (a) the obligation of the Lenders to make, or to Convert Base Rate Loans into, LIBOR Rate Loans shall be suspended until the
        Administrative Agent (based on notice from the affected Lender) shall notify the Borrowers and the Lenders that the circumstances causing such suspension no longer exist, and (b) each Borrower shall pay (i) on the last day of the applicable
        Interest Period, or (ii) if the failure to prepay immediately would cause any Lender to be in violation of such law or regulation, immediately, in full all outstanding LIBOR Rate Loans made to such Borrower, together with interest accrued thereon
        and amounts payable pursuant to Section 2.12(e), unless, in either case, such Borrower, within five Business Days of notice from the Administrative Agent (or such shorter, maximum period of time, specified by the Administrative Agent, as
        may be legally allowable), Converts all outstanding LIBOR Rate Loans made to such Borrower into Base Rate Loans in accordance with Section 2.13.

      

      

      Nature of Obligations of Lenders Regarding Extensions of Credit; Pro Rata Treatment; Assumption by the Administrative Agent.

      

      

      The obligations of the Lenders under this Agreement to make the Loans and issue or participate in Letters of Credit are several and are not joint or joint and several.  Except to the extent
        otherwise provided herein, (i) each Revolving Loan shall be made from the Lenders, each payment of Facility Fees shall be made for the account of the Lenders, and each termination or reduction of the Commitments shall be applied to the respective
        Commitments of the Lenders, pro rata according to the Commitment Percentage of each Lender, (ii) each payment or prepayment of principal of outstanding Revolving Loans by any Borrower shall be made for
        account of the Lenders pro rata in accordance with the respective unpaid principal amounts of such Loans held by them; and (iii) each payment of interest on outstanding Loans by any Borrower shall be made
        for the account of the Lenders pro rata according to the amounts of interest on such Loans then due and payable to the respective Lenders.

      

      

      Unless the Administrative Agent shall have received notice from a Lender prior to a proposed borrowing date that such Lender will not make available to the Administrative Agent such Lender’s
        ratable portion of the amount to be borrowed on such date (which notice shall not release such Lender of its obligations hereunder), the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on
        the proposed borrowing date in accordance with this Agreement and the Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower on such date a corresponding amount.  If such amount is made available to
        the Administrative Agent on a date after such borrowing date, such Lender shall pay to the Administrative Agent on demand an amount, until paid, equal to the product of (a) the amount not made available by such Lender in accordance with the terms
        hereof, times (b) the daily average Federal Funds Rate (or, if such amount is not made available for a period of three (3) Business Days after the borrowing date, the Base Rate) during such period as determined by the Administrative Agent,
        times (c) a fraction the numerator of which is the number of days that elapse from and including such borrowing date to the date on which such amount not made available by such Lender in accordance with the terms hereof shall have become
        immediately available to the Administrative Agent and the denominator of which is 360.  A certificate of the Administrative Agent with respect to any amounts owing under this Section 2.16 shall be conclusive, absent manifest error.  If such
        Lender’s Commitment Percentage of such borrowing is not made available to the Administrative Agent by such Lender within three (3) Business Days of such borrowing date, the Administrative Agent shall be entitled to recover such amount made
        available by the Administrative Agent with interest thereon at the rate per annum applicable to the Loan hereunder, on demand, from the applicable Borrower.  The failure of any Lender to make available its Commitment Percentage of any Loan
        requested by any Borrower shall not relieve it or any other Lender of its obligation, if any, hereunder to make its Commitment Percentage of such Loan available on such borrowing date, but no Lender shall be responsible for the failure of any other
        Lender to make its Commitment Percentage of such Loan available on the borrowing date.

      

      

      
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      Taxes; Foreign Lenders.

      

      

      Payments Free of Taxes.  Any and all payments by or on account of any obligation of any Borrower hereunder or under any other Loan Document shall be made free and clear of and without
        reduction or withholding for any Indemnified Taxes or Other Taxes; provided that if such Borrower or the Administrative Agent shall be required by Applicable Law (as determined in good faith by the Administrative Agent) to deduct any Indemnified
        Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the
        Administrative Agent, the applicable Lender or Issuing Lender, as the case may be, receives an amount equal to the sum it would have received had no such deductions been made, and (ii) such Borrower or the Administrative Agent, as the case may be,
        shall make such deductions and shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with Applicable Law.

      

      

      Payment of Other Taxes by the Borrowers.  Without limiting the provisions of paragraph (a) above, each Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in
        accordance with Applicable Law.

      

      

      Indemnification by the Borrowers.  Each Borrower shall indemnify the Administrative Agent, each Lender and each Issuing Lender, within ten (10) days after demand therefor, for the full
        amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) paid or payable by, or required to be withheld or deducted from a payment to,
        the Administrative Agent, such Lender or such Issuing Lender, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or
        legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to such Borrower by a Lender or an Issuing Lender (with a copy to the Administrative Agent), or by the
        Administrative Agent on its own behalf or on behalf of a Lender or an Issuing Lender, shall be conclusive absent manifest error.

      

      

      
        45

        
          

      

      Indemnification by the Lenders.  Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand thereof, for (i) any Indemnified Taxes attributable to such
        Lender (but only to the extent that the applicable Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of such Borrower to do so), (ii) any taxes attributable to such Lender’s
        failure to comply with the provisions of Section 9.09 relating to the maintenance of a Participant Register, and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in
        connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the
        amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error.

      

      

      Evidence of Payments.  As soon as practicable after any payment of Indemnified Taxes or Other Taxes by any Borrower to a Governmental Authority, such Borrower shall deliver to the
        Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the
        Administrative Agent.

      

      

      Status of Lenders.  Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which any Borrower is resident for tax
        purposes, or any treaty to which such jurisdiction is a party, with respect to payments hereunder or under any other Loan Document shall deliver to the applicable Borrower (with a copy to the Administrative Agent), at the time or times prescribed
        by Applicable Law or reasonably requested by such Borrower or the Administrative Agent, such properly completed and executed documentation prescribed by Applicable Law as will permit such payments to be made without withholding or at a reduced rate
        of withholding.  In addition, any Lender, if requested by any Borrower or the Administrative Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by such Borrower or the Administrative Agent as will
        enable such Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.  Without limiting the generality of the foregoing, any Foreign Lender shall deliver to
        the Borrowers and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
        request of any Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), any or all of the following which is applicable:

      

      

      duly completed copies of Internal Revenue Service Forms W-8BEN or W-8BEN-E, claiming eligibility for benefits of an income tax treaty to which the United States is a party and/or
        allowing for payments to be made without withholding due to the applicability of FATCA,

      

      

      duly completed copies of Internal Revenue Service Form W-8ECI,

      

      

      in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (A) a certificate to the effect 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” of any Borrower within the meaning of Section 881(c)(3)(B) of the Code, or (III) a “controlled foreign corporation” described in
        Section 881(c)(3)(C) of the Code and (B) duly completed copies of Internal Revenue Service Form W-8BEN or W-8BEN-E, or

      

      

      
        46

        
          

      

      any other form prescribed by Applicable Law as a basis for claiming exemption from or a reduction in United States Federal withholding tax duly completed together with such
        supplementary documentation as may be prescribed by Applicable Law to permit the Borrowers to determine the withholding or deduction required to be made.

      

      

      Treatment of Certain Refunds.  If the Administrative Agent, a Lender or an Issuing Lender determines, in its reasonable discretion, that it has received a refund of any Taxes or Other Taxes
        as to which it has been indemnified by any Borrower or with respect to which any Borrower has paid additional amounts pursuant to this Section, it shall promptly after the receipt of such refund pay to such Borrower an amount equal to such refund
        (but only to the extent of indemnity payments made, or additional amounts paid, by such Borrower under this Section with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent,
        such Lender or such Issuing Lender, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that such Borrower,
        upon the request of the Administrative Agent, such Lender or such Issuing Lender, agrees to repay the amount paid over to such Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the
        Administrative Agent, such Lender or such Issuing Lender in the event the Administrative Agent, such Lender or such Issuing Lender is finally required to repay such refund to such Governmental Authority.  This paragraph shall not be construed to
        require the Administrative Agent, any Lender or any Issuing Lender to make available its tax returns (or any other information relating to its taxes which it deems confidential) to any Borrower or any other Person.

      

      

      Survival.  Without prejudice to the survival of any other agreement of any Borrower hereunder, the agreements and obligations of the Borrowers, the Administrative Agent, the Lenders and the
        Issuing Lenders contained in this Section shall survive the payment in full of the Obligations and the termination of the Commitments.

      

      

      USA Patriot Act Notice; Compliance.  In order for the Administrative Agent to comply with the Patriot Act, prior to any Lender or Participant that is organized under the laws of a
        jurisdiction outside of the United States of America becoming a party hereto, the Administrative Agent may request, and such Lender or Participant shall provide to the Administrative Agent, its name, address, tax identification number and/or such
        other identification information as shall be necessary for the Administrative Agent to comply with federal law.

      

      

      Extension of Stated Termination Date.

      

      

      The Borrowers may, by sending written request in substantially the form of Exhibit H (an “Extension Letter”) to the
        Administrative Agent (in which case the Administrative Agent shall promptly deliver a copy to each of the Lenders), no earlier than seventy-five (75) days and no later than twenty (20) days prior to any annual anniversary of the Closing Date (each
        an “Anniversary Date”), request that the Lenders extend the Stated Termination Date to the day that is one year after the then existing Stated Termination Date (each such request being
        referred to herein as an “Extension”); provided, that such Extension shall only take effect if Lenders holding at least 51% of the aggregate Commitments as of the applicable Election Date
        advise the Administrative Agent as required herein of their agreement to participate in such Extension (the “Extension Condition”).  The Stated Termination Date may be extended pursuant to
        this Section 2.18 on up to two occasions; provided that, in no event shall the Stated Termination Date extend beyond the five-year anniversary of the effective date of any Extension, with such effective date being the next
        Anniversary Date succeeding the date of the applicable Extension Letter.

      

      

      
        47

        
          

      

      Each Lender, acting in its sole discretion, shall, by notice to the Administrative Agent given no later than fifteen (15) days after the receipt of any applicable Extension Letter by the
        Administrative Agent (each an “Election Date”), advise the Administrative Agent in writing whether or not such Lender agrees to such Extension.  The election of any Lender to agree to any
        Extension shall not obligate any other Lender to so agree.  The failure of any Lender to respond to a request for an Extension prior to the applicable Election Date shall be deemed to be a decision by such Lender not to extend the Stated
        Termination Date.

      

      

      If the Extension Condition shall not have been satisfied as of the applicable Election Date, then the Commitments shall terminate on the then existing Stated Termination Date (the Stated
        Termination Date in effect immediately after the receipt by the Administrative Agent of an Extension Letter but prior to the Extension so requested in such Extension Letter taking effect shall be referred to herein as the “Current Stated Termination Date”) and all Loans then outstanding (together with accrued interest thereon and any other amounts owing under the Loan Documents) shall be due and payable on the Current Stated
        Termination Date, subject to any additional requested Extension permitted pursuant to this Section 2.18.

      

      

      If the Extension Condition shall have been satisfied as of any applicable Election Date, then the Borrowers shall notify the Administrative Agent within two (2) Business Days of such Election Date
        as to whether (i) the Extension will take effect as of such Election Date or (ii) despite satisfaction of the Extension Condition, such Extension will not take effect, in which case the Commitments shall terminate on the Current Stated Termination
        Date and all Loans then outstanding (together with accrued interest thereon and any other amounts owing under the Loan Documents) shall be due and payable on the Current Stated Termination Date.  If the Borrowers fail to notify the Administrative
        Agent within two (2) Business Days as required by the immediately preceding sentence, then the Borrowers shall be deemed to have elected for such Extension to take effect as of the applicable Election Date.  If an Extension takes effect pursuant to
        either of the first two sentences of this Section 2.18(d), such Extension shall be deemed to have taken effect solely as to those Lenders (each, a “Consenting Lender”) that shall
        have agreed to the requested Extension on or prior to the applicable Election Date and, as to such Consenting Lenders, the Stated Termination Date shall be the date that is one year after the Current Stated Termination Date, subject to any
        additional Extension agreed upon pursuant to this Section 2.18.  If an Extension becomes effective as to some and not all of the Lenders (each Lender who shall not have agreed to the Extension as of the Election Date, a “Non-Consenting Lender”), then:

      

      

      subject to clause (ii) of this Section 2.18(d), the Commitment of each Non-Consenting Lender shall terminate on the Stated Termination Date in effect prior to such
        Extension taking effect, and all Loans and other amounts payable hereunder to such Non-Consenting Lender shall become due and payable on the Stated Termination Date in effect prior to such Extension taking effect and, on the Stated Termination Date
        in effect prior to such Extension taking effect, the aggregate Commitments of the Lenders hereunder shall be reduced by the aggregate Commitments of the Non-Consenting Lenders so terminated on such Stated Termination Date;

      

      

      
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      the Borrowers may, at their own expense, on or prior to the Stated Termination Date in effect prior to such Extension taking effect, require any Non-Consenting Lender to transfer
        and assign without recourse or representation (except as to title and the absence of Liens created by it) (in accordance with and subject to the restrictions contained in Section 9.09) all of such Non-Consenting Lender’s interests, rights
        and obligations under the Loan Documents (including with respect to any L/C Obligations) to one or more banks or other financial institutions (which may include any Lender) (each, an “Additional
          Commitment Lender”), provided, that (A) such Additional Commitment Lender, if not already a Lender hereunder, shall be subject to the approval of the Administrative Agent, the Swingline Lender and each Issuing Lender (in each case not to
        be unreasonably withheld or delayed), (B) such assignment shall become effective no later than the Stated Termination Date in effect prior to such Extension taking effect and (C) the Additional Commitment Lender shall pay to such Non-Consenting
        Lender in immediately available funds on the effective date of such assignment the principal of and interest accrued to the date of payment on the Loans made by such Non-Consenting Lender hereunder and all other amounts accrued for such
        Non-Consenting Lender’s account or owed to it hereunder; and

      

      

      in all cases, each Non-Consenting Lender shall be required to maintain its original Commitment up to the Stated Termination Date in effect prior to such Extension taking effect.

      

      

      Notwithstanding the foregoing, no extension of the Stated Termination Date shall become effective unless, on the applicable Anniversary Date, the conditions set forth in Section 4.02 shall
        be satisfied and the Administrative Agent shall have received a certificate to that effect dated the applicable Anniversary Date and executed by the chief executive officer or chief financial officer of each Borrower.

      

      

      [Reserved]

      

      

      [Reserved]

      

      

      Mitigation Obligations; Replacement of Lenders.

      

      

      Designation of a Different Applicable Lending Office.  If any Lender requests compensation under Section 2.14, or requires any Borrower to pay any additional amount to any Lender or
        any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and
        obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.14 or Section 2.17, as
        the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender.  Each Borrower hereby agrees to pay all reasonable costs and expenses incurred by
        any Lender in connection with any such designation or assignment.

      

      

      
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      Replacement of Lenders.  If any Lender requests compensation under Section 2.14, or if any Borrower is required to pay any additional amount to any Lender or any Governmental
        Authority for the account of any Lender pursuant to Section 2.17, or if any Lender is a Defaulting Lender hereunder, then the Borrowers may, at their sole expense and effort, upon notice to such Lender and the Administrative Agent, require
        such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 9.09, all of its interests, rights and obligations under this Agreement and the related
        Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment provided that such Lender is not a Defaulting Lender at the time of such assignment)); provided that:

      

      

      the Borrowers shall have paid to the Administrative Agent the assignment fee specified in Section 9.09;

      

      

      such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in Letters of Credit, accrued interest thereon, accrued
        fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 2.12(e) as if such assignment was a payment) from the assignee (to the extent of such outstanding principal and
        accrued interest and fees) or the Borrowers (in the case of all other amounts);

      

      

      in the case of any such assignment resulting from a claim for compensation under Section 2.14 or payments required to be made pursuant to Section 2.17, such
        assignment will result in a reduction in such compensation or payments thereafter; and

      

      

      such assignment does not conflict with Applicable Law.

      

      

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

      

      

      L/C FACILITY

      

      

      Letters of Credit.

      

      

      Subject to the terms and conditions of this Agreement, each Issuing Lender, in reliance on the agreements of the other Lenders set forth in Section 3.04(a), agrees to issue letters of
        credit (“Letters of Credit”) for the account of each Borrower or its Subsidiaries on any Business Day from the Closing Date to, but not including,
        the date that is ninety (90) days prior to the Termination Date in such form as may be approved from time to time by the applicable Issuing Lender; provided, that the no Issuing Lender shall have an
        obligation to issue any Letter of Credit if, after giving effect to the issuance of such Letter of Credit, (i) the aggregate amount of L/C Obligations in respect of Letters of Credit issued by such Issuing Lender shall exceed such Issuing Lender’s
        L/C Commitment (unless otherwise expressly agreed by such Issuing Lender in its sole discretion), (ii) the aggregate amount of L/C Obligations shall exceed the L/C Sublimit, (iii) the aggregate outstanding Revolving Credit Exposure shall exceed the
        aggregate Commitments, or (iv) the Extensions of Credit made to any Borrower shall exceed its Sublimit.  The Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to,
        and governed by, the terms and conditions hereof.

      

      

      
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      Each Letter of Credit shall (i) be denominated in Dollars in a minimum amount of $100,000 or such smaller amounts as may be agreed to by the applicable Borrower and the applicable Issuing Lender,
        (ii) be a letter of credit issued to support obligations of the applicable Borrower or any of its Subsidiaries, contingent or otherwise, incurred in the ordinary course of business, (iii) (A) expire on a date not later than five (5) Business Days
        prior to the Termination Date, (B) have a term not exceeding one year (subject to automatic renewal for additional one (1) year periods pursuant to the terms of the Application or other documentation acceptable to the applicable Issuing Lender),
        (C) and otherwise be reasonably satisfactory to the applicable Issuing Lender, and (iv) be subject to the Uniform Customs and/or ISP 98, as set forth in the Application or as determined by the applicable Issuing Lender and, to the extent not
        inconsistent therewith, the laws of the State of New York.  The Issuing Lenders shall not at any time be obligated to issue any Letter of Credit hereunder if such issuance would conflict with, or cause such Issuing Lender or any L/C Participant to
        exceed any limits imposed by, any Applicable Law.  References herein to “issue” and derivations thereof with respect to Letters of Credit shall also include extensions or modifications thereof, unless the context otherwise requires.

      

      

      Procedure for Issuance of Letters of Credit.  Each Borrower may from time to time request that an Issuing Lender issue a Letter of Credit by delivering to
        the applicable Issuing Lender at the Administrative Agent’s Office an Application therefor, completed to the reasonable satisfaction of such Issuing Lender, and such other certificates, documents and other papers and information as such Issuing
        Lender may reasonably request.  Upon receipt of any Application, the applicable Issuing Lender shall process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance
        with its customary procedures and shall, subject to Section 3.01 and Article IV, promptly issue the Letter of Credit requested thereby (but in no event shall such Issuing Lender be required to issue any Letter of Credit earlier than
        two (2) Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as
        otherwise may be agreed by such Issuing Lender and the applicable Borrower.  The applicable Issuing Lender shall promptly furnish to the applicable Borrower and the Administrative Agent a copy of such Letter of Credit and the Administrative Agent
        shall promptly notify each Lender of the issuance and upon request by any Lender, furnish to such Lender a copy of such Letter of Credit and the amount of such Lender’s L/C Participation therein.

      

      

      Commissions and Other Charges.

      

      

      Each Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit
        issued for its account in an amount equal to the product of (i) the average daily maximum amount available to be drawn during the relevant quarter under such Letter of Credit and (ii) the Applicable Letter of Credit Fee Margin (determined on a per
        annum basis).  Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter and on the Termination Date, commencing on the last Business Day of the calendar quarter in which such Letter of Credit is
        issued.  The Administrative Agent shall, promptly following its receipt thereof, distribute to the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.03(a) in accordance with their
        respective Commitment Percentages.

      

      

      
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      In addition to the foregoing commission, each Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender, a fronting fee with respect to each Letter of Credit
        issued by such Issuing Lender for the account of such Borrower in the amount and calculated in the manner set forth in such Issuing Lender’s Fee Letter (the “Fronting Fee”).  Such Fronting
        Fee shall be payable in arrears on the last Business Day of each calendar quarter and on the Termination Date.

      

      

      In addition to the foregoing fees and commissions, each Borrower shall pay or reimburse the Issuing Lenders for such normal and customary costs and expenses as are incurred or charged by the
        Issuing Lenders in issuing, effecting payment under, transferring, amending or otherwise administering any Letter of Credit issued for the account of such Borrower.

      

      

      L/C Participations.

      

      

      Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce such Issuing Lender to issue Letters of Credit hereunder, each L/C Participant irrevocably
        agrees to accept and purchase and hereby accepts and purchases from such Issuing Lender, on the terms and conditions hereinafter stated, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s
        Commitment Percentage in such Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued (or deemed issued) hereunder and the amount of each draft paid by such Issuing Lender thereunder.  Each L/C Participant
        unconditionally and irrevocably agrees that, if a draft is paid under any Letter of Credit for which an Issuing Lender is not reimbursed in full by the applicable Borrower through a Revolving Loan or otherwise in accordance with the terms of this
        Agreement, such L/C Participant shall pay to the Administrative Agent, for the account of such Issuing Lender, upon demand at the Administrative Agent’s Office an amount equal to such L/C Participant’s Commitment Percentage multiplied by the amount
        of such draft, or any part thereof, which is not so reimbursed.

      

      

      Upon becoming aware of any amount required to be paid by any L/C Participant to an Issuing Lender pursuant to Section 3.04(a) in respect of any unreimbursed portion of any payment made by
        such Issuing Lender under any Letter of Credit, the Issuing Lender shall notify the Administrative Agent of such unreimbursed amount and the Administrative Agent shall notify each L/C Participant (with a copy to the applicable Issuing Lender) of
        the amount and due date of such required payment and such L/C Participant shall pay to the Administrative Agent (which, in turn shall pay such Issuing Lender) the amount specified on the applicable due date.  If any such amount is paid to the
        Issuing Lender after the date such payment is due, such L/C Participant shall pay to the Issuing Lender on demand, in addition to such amount, the product of (i) such amount, times (ii) the daily average Federal Funds Rate (or Base Rate, if
        such amount is not paid within three Business Days of demand) as determined by the Administrative Agent during the period from and including the date such payment is due to the date on which such payment is immediately available to the Issuing
        Lender, times (iii) a fraction the numerator of which is the number of days that elapse during such period and the denominator of which is 360.  A certificate of such Issuing Lender with respect to any amounts owing under this Section
          3.04(b) shall be conclusive in the absence of manifest error.  With respect to payment to any Issuing Lender of the unreimbursed amounts described in this Section 3.04(b), if the L/C Participants receive notice that any such payment
        is due (A) prior to 1:00 p.m. (Charlotte, North Carolina time) on any Business Day, such payment shall be due that Business Day, and (B) after 1:00 p.m. (Charlotte, North Carolina time) on any Business Day, such payment shall be due on the
        following Business Day.

      

      

      
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      Whenever, at any time after an Issuing Lender has made payment under any Letter of Credit and has received from any L/C Participant its Commitment Percentage of such payment in accordance with this
        Section 3.04, such Issuing Lender receives any payment related to such Letter of Credit (whether directly from the applicable Borrower or otherwise) including, without limitation, payments made pursuant to Section 3.03, or any
        payment of interest on account thereof, the Issuing Lender will distribute to such L/C Participant its pro rata share thereof; provided, that in the event that any
        such payment received by the Issuing Lender shall be required to be returned by the Issuing Lender, such L/C Participant shall return to the Issuing Lender the portion thereof previously distributed by the Issuing Lender to it.

      

      

      Reimbursement Obligation of the Borrowers.

      

      

      Letters of Credit.

      

      

      In the event of any drawing under any Letter of Credit, the applicable Borrower agrees to reimburse (either with the proceeds of a Revolving Loan as provided for in this Section
          3.05(a) or with funds from other sources), in same day funds, the applicable Issuing Lender on each date on which the Issuing Lender notifies such Borrower (or if such notice is received by such Borrower after 1:00 p.m. Charlotte, North
        Carolina time, on the next succeeding Business Day) of the date and amount of a draft paid under any such Letter of Credit for the amount of (A) such draft so paid and (B) any amounts referred to in Section 3.03(c) incurred by such Issuing
        Lender in connection with such payment.

      

      

      Unless the applicable Borrower shall immediately notify the applicable Issuing Lender that such Borrower intends to reimburse such Issuing Lender for any such drawing under any
        Letter of Credit from other sources or funds, such Borrower shall be deemed to have timely given a Notice of Borrowing to the Administrative Agent requesting that the Lenders make a Revolving Loan bearing interest at the Base Rate plus the
        Applicable Base Rate Margin on such date in the amount of (A) such draft so paid and (B) any amounts referred to in Section 3.03(c) incurred by the Issuing Lender in connection with such payment, and the Lenders shall make a Revolving Loan
        bearing interest at the Base Rate plus the Applicable Base Rate Margin in such amount, and, notwithstanding anything in this Agreement to the contrary, the proceeds of which shall be applied to reimburse the Issuing Lender for the amount of
        the related drawing and costs and expenses.  If the applicable Borrower has elected to pay the amount of any such drawing from other sources or funds and shall fail to reimburse the Issuing Lender as provided in this Section 3.05(a), the
        unreimbursed amount of such drawing shall bear interest at the rate which would be payable on any outstanding Base Rate Loans which were then overdue from the date such amounts become payable (whether at stated maturity, by acceleration or
        otherwise) until payment in full.

      

      

      
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      [Reserved]

      

      

      Each Lender acknowledges and agrees that its obligation to fund a Revolving Loan in accordance with this Section 3.05 and to reimburse the Issuing Lenders for any draft paid under a Letter
        of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including, without limitation, the existence of a Default or an Event of Default.

      

      

      Obligations Absolute.  Each Borrower’s obligations under this Article III (including, without limitation, the Obligations) shall be absolute and
        unconditional under any and all circumstances and irrespective of any set-off, counterclaim or defense to payment which such Borrower may have or have had against any Issuing Lender or any beneficiary of a Letter of Credit or any other Person. 
        Each Borrower also agrees that the Issuing Lenders and the L/C Participants shall not be responsible for, and such Borrower’s reimbursement obligation under Section 3.05 shall not be affected by, among other things, the validity or
        genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any statement therein being untrue or inaccurate in any respect, or any dispute between or among such
        Borrower and any beneficiary of any Letter of Credit issued for its account or any other party to which such Letter of Credit may be transferred or any claims whatsoever of such Borrower against any beneficiary of such Letter of Credit or any such
        transferee, any lack of validity or enforceability of such Letter of Credit, this Agreement or any other Loan Document, or waiver by any Issuing Lender of any requirement that exists for the Issuing Lender’s protection that does not materially
        prejudice such Borrower.  The Issuing Lenders shall not be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except
        for errors or omissions caused by the applicable Issuing Lender’s gross negligence or willful misconduct.  Each Borrower agrees that any action taken or omitted by any Issuing Lender under or in connection with any Letter of Credit issued for its
        account or the related drafts or documents, if done in the absence of gross negligence or willful misconduct and in accordance with the standards of care specified in ISP 98 or the Uniform Customs, as the case may be, and, to the extent not
        inconsistent therewith, the UCC, shall be binding on such Borrower and shall not result in any liability of any Issuing Lender or Lenders.

      

      

      Defaulting Lenders.

      

      

      Defaulting Lender Adjustments.  Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no
        longer a Defaulting Lender, to the extent permitted by applicable law:

      

      

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

      

      

      
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      Defaulting Lender Waterfall.  Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender
        (whether voluntary or mandatory, at maturity, pursuant to Article VII or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 9.04 shall be applied at such time or times as may be
        determined by the Administrative Agent as follows:  first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second,
        to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Lenders or Swingline Lender hereunder; third, to Cash Collateralize the Issuing Lenders’ Fronting Exposure
        with respect to such Defaulting Lender in accordance with Section 3.08; fourth, as any Borrower may request (so long as no Default or Event of Default exists with respect to such Borrower), to the
        funding of any Loan for such Borrower in respect of which such 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 Borrowers, to be held in a deposit account and released pro rata in order to (a) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (b)
        Cash Collateralize the Issuing Lenders’ future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 3.08; sixth, to the payment of any amounts owing to the Lenders, the Issuing Lenders or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the Issuing Lenders or Swingline Lender
        against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists with respect to such
        Borrower, to the payment of any amounts owing to any Borrower as a result of any judgment of a court of competent jurisdiction obtained by such Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its
        obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (a) such
        payment is a payment of the principal amount of any Loans or participations in L/C Obligations in respect of which such Defaulting Lender has not fully funded its appropriate share, and (b) such Loans were made or the related Letters of Credit were
        issued at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and participations in L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis
        prior to being applied to the payment of any Loans of, or participations in L/C Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations and Swingline Loans are held by the
        Lenders pro rata in accordance with the Commitments without giving effect to Section 3.07(a)(iv).  Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a
        Defaulting Lender or to post Cash Collateral pursuant to this Section 3.07(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

      

      

      Certain Fees

      

      

      Each Defaulting Lender shall be entitled to receive the fees set forth in Section 3.03 for any period during which that Lender is a Defaulting Lender only to the extent
        allocable to its Commitment Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to Section 3.08.

      

      

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

      

      

      Reallocation of Participations to Reduce Fronting Exposure.  All or any part of such Defaulting Lender’s participation in L/C Obligations and Swingline Loans shall be
        reallocated among the Non-Defaulting Lenders in accordance with their respective Commitment Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate
        Revolving Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Commitment.  No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender
        arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.

      

      

      Cash Collateral, Repayment of Swingline Loans.  If the reallocation described in clause (iv) above cannot, or can only partially, be effected, each Borrower shall, without
        prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay the outstanding principal balance of any Swingline Loans made to such Borrower and (y) second, Cash Collateralize the Issuing Lenders’ Fronting Exposure with
        respect to such Borrower in accordance with the procedures set forth in Section 3.08.

      

      

      Defaulting Lender Cure.  If the Borrowers, the Administrative Agent, the Swingline Lender and each Issuing Lender agree in writing that a Lender is no longer a Defaulting Lender, the
        Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender
        will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in
        Letters of Credit and Swingline Loans to be held pro rata by the Lenders in accordance with the Commitments (without giving effect to Section 3.07(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of any 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.

      

      

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

      

      

      Termination of Defaulting Lender.  The Borrowers may terminate the unused amount of the Commitment of any Lender that is a Defaulting Lender upon not less than five (5) Business Days’ prior
        notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 3.07(a)(ii) will apply to all amounts thereafter paid by any Borrower for the account of such Defaulting
        Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such
        termination shall not be deemed to be a waiver or release of any claim any Borrower, the Administrative Agent, any Issuing Lender, the Swingline Lender or any Lender may have against such Defaulting Lender.

      

      

      Cash Collateral.

      

      

      Subject to Sections 3.07(a)(iv) and (v) hereof, at any time that there shall exist a Defaulting Lender, within one Business Day following the written request of the Administrative
        Agent or any Issuing Lender (with a copy to the Administrative Agent) each Borrower shall Cash Collateralize the Issuing Lenders’ Fronting Exposure with respect to such Defaulting Lender in respect of Letters of Credit issued for the account of
        such Borrower (determined after giving effect to Section 3.07(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount.

      

      

      Grant of Security Interest.  Each Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to the Administrative Agent, for the
        benefit of the Issuing Lenders, and agrees to maintain, a first priority security interest in all such Cash Collateral as security for the Defaulting Lenders’ obligation to fund participations in respect of
        L/C Obligations, to be applied pursuant to clause (ii) below.  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 and the Issuing Lenders as
        herein provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, each Borrower will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash
        Collateral in an amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender).

      

      

      Application.  Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under this Section 3.08 or Section 3.07 in
        respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund participations in respect of L/C Obligations (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on
        such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be provided for herein.

      

      

      
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      Termination of Requirement.  Cash Collateral (or the appropriate portion thereof) provided to reduce the Issuing Lenders’ Fronting Exposure shall no longer be required to
        be held as Cash Collateral pursuant to this Section 3.08 following (A) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (B) the determination by the
        Administrative Agent and each applicable Issuing Lender that there exists excess Cash Collateral; provided that, subject to Section 3.07 the Person providing Cash Collateral and the Issuing Lender
        may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

      

      

      CONDITIONS PRECEDENT

      

      

      Conditions Precedent to the Execution and Delivery of this Agreement.

      

      

      The obligation of the Lenders to execute and deliver this Agreement and to issue Letters of Credit and to make Loans on the Closing Date is subject to the conditions precedent that the
        Administrative Agent shall have received on or before the Closing Date, the following, each dated such date, in form and substance reasonably satisfactory to the Administrative Agent:

      

      

      Agreement.  Receipt by the Administrative Agent of counterparts of this Agreement, duly executed by the Original Borrower, the Administrative Agent, the Issuing Lenders and the Lenders;

      

      

      Secretary’s Certificate.  Receipt by the Administrative Agent of (i) a certificate of the secretary or assistant secretary of the Original Borrower, as applicable, dated the Closing Date and
        certifying (A) that attached thereto is a true and complete copy of the certificate of incorporation and all amendments thereto of the Original Borrower, certified as of a recent date by the appropriate Governmental Authority in its jurisdiction of
        organization, (B) that attached thereto is a true and complete copy of the by-laws of the Original Borrower in effect on the Closing Date and at all times since a date prior to the date of the resolutions described in clause (C) below, (C) that
        attached thereto is a true and complete copy of resolutions or consents, as applicable, duly adopted by the board of directors of the Original Borrower authorizing, as applicable, the execution, delivery and performance of this Agreement and that
        such resolutions have not been modified, rescinded or amended and are in full force and effect, (D) that the organizational documents of the Original Borrower have not been amended since the date of the last amendment thereto shown on the
        certificate of good standing attached thereto, (E) as to the incumbency and specimen signature of each officer of the Original Borrower executing this Agreement and any other document delivered in connection herewith on its behalf and (F) that
        attached thereto is a true and complete copy of all Governmental Actions, if any, required in connection with the execution, delivery and performance of this Agreement and the other Loan Documents; and (ii) a certificate of another officer as to
        the incumbency and specimen signature of such secretary or assistant secretary executing the certificate pursuant to (A) above;

      

      

      
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      Officer’s Certificate.  Receipt by the Administrative Agent of a certificate from the Original Borrower, executed on its behalf by the chief executive officer or chief financial officer of
        the Original Borrower, as applicable, in form reasonably satisfactory to the Administrative Agent, to the effect that, as of the Closing Date, all representations and warranties of the Original Borrower contained in this Agreement and the other
        Loan Documents are true and correct in all material respects (except for representations and warranties qualified by materiality, which shall be true and correct in all respects); that the Original Borrower is not in violation or aware of any event
        that would have a Material Adverse Effect on the business or operation as reflected in the Disclosure Documents; that the Original Borrower is not in violation of any of the covenants contained in this Agreement and the other Loan Documents in any
        material respect; that, after giving effect to the transactions contemplated by this Agreement, no Default or Event of Default has occurred and is continuing; and that the Original Borrower has satisfied each of the conditions precedent set forth
        in this Section 4.01;

      

      

      Financial Statements.  Receipt by the Administrative Agent of the Disclosure Documents and financial statements required pursuant to Section 6.03, which demonstrate, in the
        Administrative Agent’s reasonable judgment, together with all other information then available to the Administrative Agent, that the Original Borrower can repay its debts and satisfy its other obligations as and when they become due, and can comply
        with the financial covenants contained in this Agreement;

      

      

      Good Standing Certificate.  Receipt by the Administrative Agent of a certificate of good standing for the Original Borrower, dated on or immediately prior to the Closing Date, from the
        Secretary of State of the State of New Jersey;

      

      

      Fees.  Receipt by the Administrative Agent and the Lenders of the fees set forth or referenced in this Agreement and the Fee Letters, and any other accrued and unpaid fees, expenses or
        commissions due hereunder (including, without limitation, legal fees and expenses of counsel to the Administrative Agent), and to any other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including
        all taxes, fees and other charges related to the Loan Documents, in each case which are invoiced on or prior to the Closing Date;

      

      

      Note.  If requested by any Lender, a Note, payable to the order of such Lender, duly completed and executed by the Original Borrower;

      

      

      Opinion.  Opinion of Cozen O’Connor, counsel to the Original Borrower, as to such matters as the Administrative Agent and the Lenders may reasonably request, addressed to the Administrative
        Agent and the Lenders, in form and substance reasonably satisfactory to the Administrative Agent;

      

      

      Existing Credit Facility.  Receipt by the Administrative Agent of confirmation acceptable to the Administrative Agent that all Indebtedness under the Existing Credit Facility (except for the
        Existing Letters of Credit), has been, or will be simultaneously, terminated and indefeasibly paid in full;

      

      

      Material Adverse Effect.  Since December 31, 2016, there has been no Material Adverse Effect; and

      

      

      Other.  Receipt by the Administrative Agent of all other opinions, certificates and instruments in connection with the transactions contemplated by this Agreement reasonably requested by the
        Administrative Agent.

      

      

      
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      Additional Conditions Precedent.

      

      

      The obligation of the Lenders and the Issuing Lenders to (i) make Loans and issue Letters of Credit (or increase the stated amount of any Letter of Credit), including, without limitation, the
        making of any Loans, the incurring of any L/C Obligations or the issuance of any Letters of Credit on the Closing Date, or (ii) extend the Stated Termination Date, shall be subject to the further conditions precedent that on the date of such Loan,
        issuance, increase, or Extension of the Stated Termination Date, as the case may be:

      

      

      The Administrative Agent shall have received a Notice of Borrowing, Application or Extension Letter, as the case may be, signed by duly authorized officer of the applicable Borrower, dated such
        date, stating that:

      

      

      The representations and warranties of the applicable Borrower contained in Section 5.01 of this Agreement are true and correct in all material respects (except for
        representations and warranties qualified by materiality, which shall be true and correct in all respects) on and as of the date of the issuance of such Letter of Credit or the making of such Loan or Extension of the Stated Termination Date, as
        applicable, as though made, issued or extended, as applicable, on and as of such date, both before and after giving effect to such Loan, issuance of such Letter of Credit, or Extension of the Stated Termination Date, as applicable, and to the
        application of the proceeds thereof; and

      

      

      No event has occurred and is continuing, or would result from the making of such Loan, the issuance of such Letter of Credit, or Extension of the Stated Termination Date, as
        applicable, or the application of the proceeds thereof, as the case may be, which constitutes a Default or an Event of Default with respect to the applicable Borrower.

      

      

      Receipt by the Administrative Agent of a Notice of Account Designation from the applicable Borrower specifying the account or accounts to which the proceeds of any Loans that are made to such
        Borrower under this Agreement are to be disbursed.

      

      

      With respect to any Extension of Credit to SJIU, the Satisfaction of the SJIU Sublimit Conditions.

      

      

      Unless the applicable Borrower shall have previously advised the Administrative Agent in writing that one or more of the statements contained in clauses (a)(i) and (a)(ii) above are
        not true and correct, such Borrower shall be deemed to have represented and warranted that, on the date of such Loan, issuance of the Letter of Credit or Extension of the Stated Termination Date, as applicable, the above statements are true.

      

      

      [Reserved]

      

      

      Reliance on Certificates.  Each of the Lenders, the Issuing Lenders and the Administrative Agent shall be entitled to rely conclusively upon the certificates
        delivered from time to time by officers of the Borrowers as to the names, incumbency, authority and signatures of the respective Persons named therein until such time as the Administrative Agent may receive a replacement certificate, in form
        reasonably acceptable to the Administrative Agent, from an officer of a Borrower identified to the Administrative Agent as having authority to deliver such certificate, setting forth the names and true signatures of the officers and other
        representatives of such Borrower thereafter authorized to act on its behalf.

      

      

      
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      REPRESENTATIONS AND WARRANTIES

      

      

      Representations and Warranties of the Borrowers.  Each Borrower, severally and not jointly, hereby represents and warrants as follows:

      

      

      Such Borrower and each of its Subsidiaries is (i) an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, as
        applicable and (ii) is duly qualified to do business in, and is in good standing in, all other jurisdictions where the nature of its business or the nature of property owned or used by it makes such qualification necessary, except in the case of
        this clause (ii) where such failure would not result in a Material Adverse Effect.  Such Borrower and each of its Subsidiaries has all requisite corporate (or other applicable) powers and authority to own or lease and operate its properties and to
        carry on its business as now conducted and as proposed to be conducted.

      

      

      The execution, delivery and performance by such Borrower of this Agreement and  each other Loan Document to which it is a party are within such Borrower’s corporate (or other applicable) powers,
        have been duly authorized by all necessary corporate (or other applicable) action, do not contravene (i) such Borrower’s certificate of incorporation, (ii) any law, rule or regulation applicable to such Borrower or (iii) any contractual or legal
        restriction binding on or affecting such Borrower, and will not result in or require the imposition of any lien or encumbrance on, or security interest in, any property (including, without limitation, accounts or contract rights) of such Borrower,
        except as provided in this Agreement and any other Loan Document.

      

      

      No Governmental Action is required for the execution or delivery by such Borrower of this Agreement or any other Loan Document to which it is a party or for the performance by such Borrower of its
        obligations under this Agreement or any other Loan Document to which it is a party other than those which have previously been duly obtained, are in full force and effect, are not subject to any pending or, to the knowledge of such Borrower,
        threatened appeal or other proceeding seeking reconsideration and as to which all applicable periods of time for review, rehearing or appeal with respect thereto have expired.

      

      

      This Agreement and each Loan Document to which such Borrower is a party is a legal, valid and binding obligation of such Borrower, enforceable against such Borrower in accordance with its terms
        subject to the effect of bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium and other similar laws of general application affecting rights and remedies of creditors generally.

      

      

      Except as disclosed in the Disclosure Documents, there is no pending or, to such Borrower’s knowledge, threatened action or proceeding (including, without limitation, any proceeding relating to or
        arising out of Environmental Laws) affecting such Borrower or any of its Subsidiaries before any court, governmental agency or arbitrator that has a reasonable possibility of resulting in a Material Adverse Effect.

      

      

      
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      The audited consolidated balance sheet of the Original Borrower and its Consolidated Subsidiaries, as at December 31, 2016, and the related consolidated statements of income, retained earnings and
        cash flows of the Original Borrower and its Consolidated Subsidiaries for the fiscal year then ended, and the unaudited consolidated balance sheet of the Original Borrower and its Consolidated Subsidiaries, as at March 31, 2017 and June 30, 2017,
        and the related consolidated statements of income, retained earnings and cash flows of the Original Borrower and its Consolidated Subsidiaries for the fiscal quarter then ended, copies of each of which have been furnished to the Administrative
        Agent and each Lender, fairly present (subject, in the case of such balance sheets and statements of income for the fiscal quarter ended March 31, 2017 and June 30, 2017, to year-end adjustments) in all material respects the financial condition of
        the Original Borrower and its Consolidated Subsidiaries as at such dates and the results of the operations of the Original Borrower and its Consolidated Subsidiaries for the periods ended on such dates, all in accordance with GAAP consistently
        applied.  Since December 31, 2016, there has been no Material Adverse Effect, or material adverse change in the facts and information regarding such entities as represented to the Closing Date.

      

      

      The Utilities Financial Statements, copies of each of which have been furnished to the Administrative Agent and each Lender, collectively, fairly present (subject, in the case of such balance
        sheets and statements of income for the fiscal quarter ended March 31, 2019, to year-end adjustments) in all material respects the financial condition of SJIU and its Consolidated Subsidiaries as at such dates and the results of the operations of
        SJIU and its Consolidated Subsidiaries for such periods ended on such dates, all in accordance with GAAP consistently applied.  Since December 31, 2018, there has been no Material Adverse Effect, or material adverse change in the facts and
        information regarding such entities as represented to the Second Amendment Effective Date.

      

      

      The issuance of, and the existence of, the Letters of Credit, the making of Loans and the other Extensions of Credit for the account of such Borrower and the use of the proceeds thereof will comply
        with all provisions of Applicable Law in all material respects.

      

      

      Neither such Borrower nor any Subsidiary of such Borrower is an “investment company” or a company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940,
        as amended.

      

      

      [Reserved]

      

      

      Neither such Borrower nor its Subsidiaries is engaged in the business of extending credit for the purpose of buying or carrying margin stock (within the meaning of Regulation U issued by the Board
        of Governors of the Federal Reserve System), and no proceeds of any drawing on the Letters of Credit, any Loan or any other Extension of Credit will be used to buy or carry any margin stock or to extend credit to others for the purpose of buying or
        carrying any margin stock.

      

      

      
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      Compliance with ERISA as follows:

      

      

      Such Borrower and each ERISA Affiliate thereof are in compliance with all applicable provisions of ERISA, the Code and the regulations and published interpretations thereunder
        with respect to all Employee Benefit Plans except where a failure to so comply could not reasonably be expected to have a Material Adverse Effect.  Each Employee Benefit Plan that is intended to be qualified under Section 401(a) of the Code is the
        subject of a favorable determination, opinion or advisory letter issued by the Internal Revenue Service, and each trust related to such plan has been determined to be exempt under Section 501(a) of the Code.  No liability has been incurred by such
        Borrower or any ERISA Affiliate thereof which remains unsatisfied for any taxes or penalties with respect to any Employee Benefit Plan or any Multiemployer Plan except for a liability that could not reasonably be expected to have a Material Adverse
        Effect;

      

      

      Except where failure of any of the following representations to be correct could not reasonably be expected to have a Material Adverse Effect, no Pension Plan has been
        terminated, nor has any unpaid minimum required contributions (as defined in Section 430 of the Code) (without regard to any waiver granted under Section 430 of the Code), nor has any funding waiver from the Internal Revenue Service been received
        or requested with respect to any Pension Plan, nor has such Borrower or any ERISA Affiliate thereof failed to make any contributions or to pay any amounts due and owing as required by Section 430 of the Code, Section 303 of ERISA or the terms of
        any Pension Plan prior to the due dates of such contributions under Section 430 of the Code or Section 303 of ERISA, nor has there been any event requiring any disclosure under Section 4041(c)(3)(C) or 4063(a) of ERISA with respect to any Pension
        Plan;

      

      

      Except where the failure of any of the following representations to be correct could not reasonably be expected to have a Material Adverse Effect, neither such Borrower nor any
        ERISA Affiliate thereof has:  (A) engaged in a nonexempt prohibited transaction described in Section 406 of the ERISA or Section 4975 of the Code, (B) incurred any liability to the PBGC which remains outstanding other than the payment of premiums
        and there are no premium payments which are due and unpaid, or (C) failed to make a required contribution or payment to a Multiemployer Plan;

      

      

      No Termination Event has occurred or is reasonably expected to occur;

      

      

      Except where the failure of any of the following representations to be correct could not reasonably be expected to have a Material Adverse Effect, no proceeding, claim (other
        than a benefits claim in the ordinary course of business), lawsuit and/or investigation is existing or, to the knowledge of such Borrower, threatened concerning or involving any (A) employee welfare benefit plan (as defined in Section 3(1) of
        ERISA) currently maintained or contributed to by such Borrower or any ERISA Affiliate thereof, (B) Pension Plan or (C) Multiemployer Plan;

      

      

      Such Borrower represents that it is not (1) an employee benefit plan subject to ERISA, (2) a plan or account subject to Section 4975 of the Code, (3) an entity deemed to hold
        “plan assets” of any such plans or accounts for purposes of ERISA or the Code, or (4) a “governmental plan” within the meaning of ERISA;

      

      

      Such Borrower and its Subsidiaries have filed all tax returns (Federal, state and local) required to be filed and paid all taxes shown thereon to be due, including interest and penalties, except to
        the extent that such Borrower or any such Subsidiary is diligently contesting any such taxes in good faith and by appropriate proceedings, and for which adequate reserves for payment thereof have been established.

      

      

      
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      No event has occurred or is continuing which constitutes a Default or an Event of Default, or which constitutes, or which with the passage of time or giving of notice or both would constitute, a
        default or event of default by such Borrower or any Subsidiary thereof under any material agreement or contract, judgment, decree or order by which such Borrower or any of its respective properties may be bound or which would require such Borrower
        or any Subsidiary thereof to make any payment thereunder prior to the scheduled maturity date therefor, where such default could reasonably be expected to result in a Material Adverse Effect.

      

      

      As of the Second Amendment Effective Date, each Borrower and each of its Subsidiaries will be Solvent.

      

      

      As of the Second Amendment Effective Date, the capitalization of each Borrower and each Significant Subsidiary of such Borrower consists of the Capital Stock, authorized, issued and outstanding, of
        such classes and series, with or without par value, described on Schedule II hereto.  All such outstanding Capital Stock has been duly authorized and validly issued and are fully paid and nonassessable.  Except as set forth in the
        Disclosure Documents, there are no outstanding warrants, subscriptions, options, securities, instruments or other rights of any type or nature whatsoever, which are convertible into, exchangeable for or otherwise provide for or permit the issuance
        of, Capital Stock of such Borrower or any Subsidiary of such Borrower or are otherwise exercisable by any Person.

      

      

      Such Borrower and each of its Subsidiaries has good and marketable title to all material assets and other property purported to be owned by it.

      

      

      None of the properties or assets of such Borrower or any of its Subsidiaries is subject to any Lien, except Permitted Liens.

      

      

      All written information, reports and other papers and data produced by or on behalf of such Borrower and furnished to the Administrative Agent and the Lenders in connection with the matters covered
        by this Agreement were, at the time the same were so furnished, complete and correct in all material respects.  No document furnished or written statement made to the Administrative Agent or the Lenders by such Borrower in connection with the
        negotiation, preparation or execution of this Agreement or any other Loan Documents contains or will contain any untrue statement of a fact material to the creditworthiness of such Borrower or its Subsidiaries or omits or will omit to state a fact
        necessary in order to make the statements contained therein not misleading.

      

      

      [Reserved]

      

      

      [Reserved]

      

      

      None of such Borrower or any Subsidiary or Affiliate of such Borrower:  (i) is a Sanctioned Person or currently the subject or target of any Sanctions or (ii) has taken any action, directly or
        indirectly, that would result in a violation by such Persons of any Anti-Corruption Laws or Sanctions.  The Lenders hereby notify such Borrower that pursuant to the requirements of the Patriot Act, they are required to obtain, verify and record
        information that identifies such Borrower, which information includes the name and address of such Borrower and other information that will allow the Lenders to identify such Borrower in accordance with the Patriot Act.

      

      

      
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      Except as disclosed in the Disclosure Documents or to the extent that the resulting violation or liability would not reasonably be expected to result individually or in the aggregate, in a Material
        Adverse Effect, all properties now or in the past owned, leased or operated by such Borrower and each Subsidiary thereof now or in the past do not contain, and to their knowledge have not previously contained, any Hazardous Materials in amounts or
        concentrations which (A) constitute or constituted a violation of applicable Environmental Laws or (B) could give rise to liability under applicable Environmental Laws.

      

      

      Except as disclosed in the Disclosure Documents or to the extent that the resulting violation or liability would not reasonably be expected to result individually or in the aggregate, in a Material
        Adverse Effect, to the knowledge of such Borrower and its Subsidiaries, such Borrower and each Subsidiary thereof and such properties and all operations conducted in connection therewith are in compliance, and have been in compliance, with all
        applicable Environmental Laws, and there is no contamination at, under or about such properties or such operations which could interfere with the continued operation of such properties or impair the fair saleable value thereof.

      

      

      Except as disclosed in the Disclosure Documents or to the extent that the resulting violation or liability would not reasonably be expected to result individually or in the aggregate, in a Material
        Adverse Effect, neither such Borrower nor any Subsidiary thereof has received any written or verbal notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters, Hazardous Materials, or
        compliance with Environmental Laws, nor does such Borrower or any Subsidiary thereof have knowledge or reason to believe that any such notice will be received or is being threatened.

      

      

      Except as disclosed in the Disclosure Documents or to the extent that the resulting violation or liability would not reasonably be expected to result individually or in the aggregate, in a Material
        Adverse Effect, to the knowledge of such Borrower and its Subsidiaries, Hazardous Materials have not been disposed of, on or transported to or from the properties now or in the past owned, leased or operated by such Borrower or any Subsidiary
        thereof in violation of, or in a manner or to a location which could give rise to liability under, Environmental Laws, nor have any Hazardous Materials been generated, treated, stored or disposed of at, on or under any of such properties in
        violation of, or in a manner that could give rise to liability under, any applicable Environmental Laws.

      

      

      Except as disclosed in the Disclosure Documents or to the extent that the resulting violation or liability would not reasonably be expected to result individually or in the aggregate, in a Material
        Adverse Effect, no judicial proceedings or governmental or administrative action is pending, or, to the knowledge of such Borrower, threatened, under any Environmental Law to which such Borrower or any Subsidiary thereof is or will be named as a
        potentially responsible party with respect to such properties or operations conducted in connection therewith, nor are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or
        judicial requirements outstanding under any Environmental Law with respect to such Borrower, any Subsidiary thereof or such properties or such operations that could reasonably be expected, individually or in the aggregate, to have a Material
        Adverse Effect.

      

      

      
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      Except as disclosed in the Disclosure Documents or to the extent that the resulting violation or liability would not reasonably be expected to result individually or in the aggregate, in a Material
        Adverse Effect, there has been no release, or to such Borrower’s knowledge, threat of release, of Hazardous Materials at or from properties owned, leased or operated by such Borrower or any Subsidiary thereof, now or in the past, in violation of or
        in amounts or in a manner that could give rise to liability under Environmental Laws.

      

      

      Such Borrower is not an EEA Financial Institution.

      

      

      COVENANTS OF THE BORROWERS

      

      

      Affirmative Covenants.

      

      

      Until the Obligations have been finally and indefeasibly paid and satisfied in full and the Commitments terminated, each Borrower, severally but not jointly, covenants and agrees that such Borrower
        will, and will cause each of its Subsidiaries, to:

      

      

      Preservation of Existence, Etc.  Preserve and maintain its corporate or company, as applicable, existence, material rights (statutory and otherwise) and franchises, and take such other
        action as may be necessary or advisable to preserve and maintain its right to conduct its business in the states where it shall be conducting its business, except where failure to do so does not result in, or could not reasonably be expected to
        have, a Material Adverse Effect.

      

      

      Maintenance of Properties, Etc.  Maintain good and marketable title to all of its properties which are used or useful in the conduct of its business, and preserve, maintain, develop and
        operate in substantial conformity with all laws and material contractual obligations, all such properties in good working order and condition, ordinary wear and tear excepted, except where such failure would not result in a Material Adverse Effect.

      

      

      Ownership.  Cause the Parent to own, directly or indirectly, at all times 100% of the Capital Stock having voting rights of such Borrower.

      

      

      Compliance with Material Contractual Obligations, Laws, Etc.  Comply with the requirements of all material contractual obligations and all applicable laws, rules, regulations and orders, the
        failure to comply with which could reasonably be expected to result in a Material Adverse Effect, such compliance to include, without limitation, paying before the same become delinquent all taxes, assessments and governmental charges imposed upon
        it or upon its property except to the extent diligently contested in good faith and by appropriate proceedings and for which adequate reserves for the payment thereof have been established, and complying with the requirements of all applicable
        Environmental Laws, and other health and safety matters.

      

      

      Insurance.  Maintain insurance with financially sound and reputable insurance companies or associations in such amounts and covering such risks as are usually carried by companies engaged in
        the same or similar businesses and similarly situated.

      

      

      
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      Visitation Rights; Keeping of Books.  At any reasonable time and from time to time, upon reasonable advance notice, permit the Administrative Agent or any of the Lenders or any agents or
        representatives thereof, to examine and make copies of and abstracts from the records and books of account of, and visit the properties of, such Borrower and any of its Subsidiaries, and to discuss the affairs, finances and accounts of such
        Borrower and any of its Subsidiaries with any of their respective officers or directors and with their respective independent certified public accountants and keep proper books of record and account, in which full and correct entries shall be made
        of all financial transactions and the assets and liabilities of such Borrower in accordance with GAAP, consistent with the procedures applied in the preparation of the financial statements referred to in Section 5.01(f) hereof.

      

      

      Transactions with Affiliates.  Conduct, and cause each of its Subsidiaries to conduct, all transactions otherwise permitted under this Agreement with any of its Affiliates on terms that are
        fair and reasonable and no less favorable to such Borrower or such Subsidiary than it would obtain in a comparable arm’s‐length transaction with a Person not an Affiliate.

      

      

      Use of Proceeds.  Use the proceeds of the facility created by this Agreement solely for the following purposes:  (i) on the Closing Date, the repayment in full of all loans or reimbursement
        obligations under the Existing Credit Facility; and (ii) on and after the Closing Date, general corporate purposes, including, without limitation, issuance of Letters of Credit to support working capital needs of such Borrower.

      

      

      Loan Documents.  Perform and comply in all material respects with each of the provisions of each Loan Document to which it is a party.

      

      

      Risk Management.  Perform and comply in all material respects, and require its Subsidiaries to perform and comply in all material respects, with any risk management policies developed by
        such Borrower, including such policies, if applicable, related to (i) the retail and wholesale inventory distribution and trading procedures and (ii) dollar and volume limits.

      

      

      [Reserved]

      

      

      [Reserved]

      

      

      Compliance with Sanctions and Anti-Corruption Laws.  Comply with any obligations that it may have under any Anti-Corruption Laws and maintain in effect and enforce policies and procedures
        designed to ensure compliance by such Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.  In the event that such Borrower becomes aware that it is not in
        compliance with any applicable Sanctions or Anti-Corruption Laws, such Borrower shall notify the Administrative Agent and diligently take all actions required thereunder to become compliant.

      

      

      Further Assurances.  At the expense of such Borrower, promptly execute and deliver, or cause to be promptly executed and delivered, all further instruments and documents, and take and cause
        to be taken all further actions, that may be reasonably necessary or that the Required Lenders through the Administrative Agent may reasonably request, to enable the Lenders and the Administrative Agent to enforce the terms and provisions of this
        Agreement and the Loan Documents and to exercise their rights and remedies hereunder.  In addition, such Borrower will use all reasonable efforts to duly obtain Governmental Actions required from time to time on or prior to such date as the same
        may become legally required, and thereafter to maintain all such Governmental Actions in full force and effect, except where such failure would not result in a Material Adverse Effect.

      

      

      
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      Compliance with ERISA.  (i) Except where the failure to so comply could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (x) comply with
        applicable provisions of ERISA and the regulations and published interpretations thereunder with respect to all Employee Benefit Plans of such Borrower, (y) not take any action or fail to take action the result of which could reasonably be expected
        to result in a liability to the PBGC or to a Multiemployer Plan, (z) not participate in any prohibited transaction that could result in any civil penalty under ERISA or tax under the Code and (zz) operate each Employee Benefit Plan of such Borrower
        in such a manner that will not incur any tax liability under Section 4980B of the Code or any liability to any qualified beneficiary as defined in Section 4980B of the Code and (ii) furnish to the Administrative Agent upon the Administrative
        Agent’s request such additional information about any Employee Benefit Plan of such Borrower as may be reasonably requested by the Administrative Agent.

      

      

      Environmental Notices.  Such Borrower shall furnish to the Administrative Agent, on behalf of the Lenders prompt written notice of all Environmental Liabilities, pending, threatened or
        anticipated Environmental Proceedings, Environmental Notices, Environmental Judgments and Orders, and Environmental Releases at, on, in, under or in any way affecting its properties or, to the extent such Borrower has actual notice thereof, any
        adjacent property, and all facts, events or conditions that could lead to any of the foregoing; provided that such Borrower shall not be required to give such notice unless it reasonably believes that any of the foregoing, individually or in the
        aggregate, could reasonably be expected to have a Material Adverse Effect with respect to such Borrower.

      

      

      Environmental Matters.  Except where it could not reasonably be expected to have a Material Adverse Effect with respect to such Borrower, such Borrower will not use, produce, manufacture,
        process, generate, store, dispose of, manage at, or ship or transport to or from its properties any Hazardous Materials other than as disclosed to the Lenders in writing at or prior to the Closing Date except for (i) Hazardous Materials used,
        produced, manufactured, processed, generated, stored, disposed of or managed in the ordinary course of business in material compliance with all applicable Environmental Requirements or (ii) other Hazardous Materials the unlawful handling, discharge
        or disposal of which, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect with respect to such Borrower.

      

      

      Environmental Release.  Upon becoming aware of the occurrence of an Environmental Release that could reasonably be expected to have a Material Adverse Effect with respect to such Borrower,
        such Borrower will promptly investigate the extent of, and comply in all material respects with all applicable Federal, state and local statutes, rules, regulations, orders and other provisions of law relating to Hazardous Materials, air emissions,
        water discharge, noise emission and liquid disposal, and other environmental, health and safety matters, other than those the noncompliance with which would not have a Material Adverse Effect with respect to such Borrower.

      

      

      
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      Negative Covenants.  Until all of the Obligations have been finally and indefeasibly paid and satisfied in full and the Commitments terminated, each
        Borrower, severally but not jointly, covenants and agrees that such Borrower will not, and will not cause or permit any of its Subsidiaries, to:

      

      

      Liens, Etc.  Except as permitted in Section 6.02(c), create, incur, assume, or suffer to exist any Lien upon or with respect to any of its properties other than Permitted Liens.

      

      

      Indebtedness.  Create or suffer, or permit to exist, any Indebtedness except for Permitted Indebtedness.

      

      

      Obligation to Ratably Secure.  Create or suffer to exist any Lien other than a Permitted Lien, in each case to secure or provide for the payment of Indebtedness, unless, on or prior to the
        date thereof, such Borrower shall have (i) pursuant to documentation reasonably satisfactory to the Administrative Agent and Required Lenders, equally and ratably secured the Obligations of such Borrower under this Agreement by a Lien acceptable to
        the Administrative Agent and Required Lenders, and (ii) caused the creditor or creditors, as the case may be, in respect of such Indebtedness to have entered into an intercreditor agreement in form, scope and substance reasonably satisfactory to
        the Administrative Agent and the Required Lenders.

      

      

      Mergers, Etc.  Merge or consolidate with or into any Person, except that (i) any Subsidiary of such Borrower may merge or consolidate with or into, any other wholly owned Subsidiary of such
        Borrower and (ii) any Subsidiary of such Borrower may merge or consolidate with and into such Borrower; provided, that such Borrower is the surviving corporation; provided,
        further, that in each case, immediately after giving effect to such proposed transaction, no Event of Default or Default with respect to such Borrower would exist.

      

      

      Sale of Assets, Etc.  Sell, transfer, lease, assign or otherwise convey or dispose of assets (whether now owned or hereafter acquired), in any single transaction or series of transactions,
        whether or not related having an aggregate book value in excess of 10% of the Consolidated assets of such Borrower and its Consolidated Subsidiaries, except for dispositions of capital assets in the ordinary course of business as presently
        conducted.

      

      

      Restricted Investments.  Make or permit to exist any Investments, loans or advances to, or acquire any assets or property of any other Person, except for Permitted Investments.

      

      

      New Business.  Enter into any business, in any material respect, which is not similar to such Borrower’s and its Subsidiaries’ business as of the Closing Date.

      

      

      Distributions.  Pay any dividends on or make any other distributions in respect of any Capital Stock or redeem or otherwise acquire any such Capital Stock provided,
        that (i) any Subsidiary of such Borrower may pay regularly scheduled dividends or make other distributions to such Borrower; (ii) if no Default or Event of Default with respect to such Borrower exists or would result therefrom, such Borrower may
        pay distributions or dividends in either cash or Capital Stock of such Borrower or may redeem or otherwise acquire its Capital Stock, and (iii) such Borrower may cause (a) the redemption of its Capital Stock having a preferred interest or (b) the
        acquisition of Capital Stock having a preferred interest of any trust created by such Borrower solely for the purpose of issuing preferred equity interests, the proceeds of which will be used by such trust to fund loans to such Borrower, only if,
        in each case, (I) such redemption or acquisition is effected by the proceeds of Capital Stock issued by the Parent, or (II) such redemption or acquisition is effected with proceeds from Permitted Indebtedness; provided, that before and after such redemption or acquisition as described in (I) and (II) above, no Default or Event of Default with respect to such Borrower has occurred and is continuing.

      

      

      
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      Constituent Documents, Etc.  Change in any material respect the nature of its certificate of incorporation, by-laws, or other similar documents, or accounting policies or accounting
        practices (except as required or permitted by the Financial Accounting Standards Board or GAAP).

      

      

      Fiscal Year.  Change its Fiscal Year.

      

      

      Use of Proceeds.  Request any Extension of Credit, or use the proceeds of any Extension of Credit, (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or
        giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any
        Sanctioned Country, or (iii) in any manner that would result in the violation by any individual or entity (including any individual or entity participating in the transaction, whether as Lender, Arranger, Administrative Agent, Issuing Lender,
        Swingline Lender, or otherwise) of Sanctions.

      

      

      Reporting Requirements.

      

      

      So long as any Lender shall have any Commitment hereunder or any Borrower shall have any obligation to pay any amount to the Administrative Agent or any Lender hereunder, each Borrower will provide
        to the Administrative Agent:

      

      

      as soon as available and in any event within sixty (60) days after the end of each of the first three fiscal quarters of each fiscal year of such Borrower (with respect to SJIU, commencing as of
        the fiscal quarter ending September 30, 2019), a consolidated and consolidating balance sheet of such Borrower and its Consolidated Subsidiaries as at the end of such fiscal quarter and consolidated and consolidating statements of income, retained
        earnings and cash flows of such Borrower and its Consolidated Subsidiaries for the period commencing at the end of the previous fiscal year and ending with the end of such fiscal quarter, all in reasonable detail and duly certified by the chief
        financial officer or the treasurer of such Borrower as fairly presenting in all material respects the financial condition of such Borrower and its Consolidated Subsidiaries as at such date and the results of operations of such Borrower and its
        Consolidated Subsidiaries for the periods ended on such date, except for normal year-end adjustments, all in accordance with GAAP consistently applied (for purposes hereof delivery of such Borrower’s appropriately completed Form 10‐Q will be
        sufficient in lieu of delivery of such consolidated balance sheet and consolidated statements of income, retained earnings and cash flows), together with a Compliance Certificate, in the form of Exhibit G, of the chief financial officer or
        the treasurer of such Borrower (A) demonstrating and certifying compliance by such Borrower with the covenants set forth in Section 6.04 and (B) stating that no Event of Default or Default with respect to such Borrower has occurred and is
        continuing or, if an Event of Default or Default with respect to such Borrower has occurred and is continuing, a statement as to the nature thereof and the action which such Borrower has taken and proposes to take with respect thereto;

       

      

      
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        as soon as available and in any event within one hundred five (105) days after the end of each fiscal year of such Borrower, a copy of the annual report for such fiscal year for such Borrower and
          its Consolidated Subsidiaries, containing consolidated and consolidating financial statements for such year certified by, and accompanied by an unqualified opinion of, independent public accountants reasonably acceptable to the Administrative
          Agent (for purposes hereof, delivery of such Borrower’s appropriately completed Form 10‐K will be sufficient in lieu of delivery of such financial statements), together with a Compliance Certificate, in the form of Exhibit G, of the chief
          financial officer or the treasurer of such Borrower (A) demonstrating and certifying compliance by such Borrower with the covenants set forth in Section 6.04 and (B) stating that no Event of Default or Default with respect to such
          Borrower has occurred and is continuing or, if an Event of Default or Default with respect to such Borrower has occurred and is continuing, a statement as to the nature thereof and the action which such Borrower has taken and proposes to take
          with respect thereto;

        

        

        as soon as possible and in any event within five (5) days after such Borrower becomes aware of the occurrence of each Event of Default and each Default with respect to such Borrower, a statement
          of the chief financial officer of such Borrower setting forth details of such Event of Default or Default and the action which such Borrower has taken and proposes to take with respect thereto;

        

        

        upon such Borrower obtaining knowledge of the following, such Borrower will give written notice to the Administrative Agent promptly (and in any event within ten Business Days) of any of the
          following:  (i) any unfavorable determination letter from the Internal Revenue Service regarding the qualification of an Employee Benefit Plan of such Borrower under Section 401(a) of the Code (along with a copy thereof), (ii) all notices
          received by such Borrower or any of its ERISA Affiliates of the PBGC’s intent to terminate any Pension Plan of such Borrower or to have a trustee appointed to administer any Pension Plan of such Borrower, (iii) all notices received by such
          Borrower or any of its ERISA Affiliates from a Multiemployer Plan sponsor concerning the imposition or amount of withdrawal liability in the amount of at least $1,000,000 pursuant to Section 4202 of ERISA and (iv) such Borrower or any of its
          ERISA Affiliates has filed or intends to file a notice of intent to terminate any Pension Plan of such Borrower under a distress termination within the meaning of Section 4041(c) of ERISA;

        

        

        as soon as possible and in any event within five (5) days after such Borrower becomes aware of the occurrence thereof, notice of all actions, suits, proceedings or other events (A) of the type
          described in Section 5.01(e) or (B) for which the Administrative Agent or the Lenders will be entitled to indemnity under Section 9.05;

        

        

        as soon as possible and in any event within five (5) days after the sending or filing thereof, copies of all material reports that such Borrower sends to any of its security holders, and copies
          of all reports and registration statements which such Borrower or any of its Subsidiaries files with the Securities and Exchange Commission or any national securities exchange;

        

        

        as soon as possible and in any event within five (5) days after requested, such other information respecting the business, properties, assets, liabilities (actual or contingent), results of
          operations, prospects, condition or operations, financial or otherwise, of such Borrower or any Subsidiary thereof as any Lender through the Administrative Agent may from time to time reasonably request;

        

        

        
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        from time to time and promptly upon each request, information with respect to such Borrower as a Lender may reasonably request in order to comply with the applicable “know your customer” and
          anti-money laundering rules and regulations, including, without limitation, the Patriot Act; and

        

        

        promptly, upon knowledge of any change in the Debt Rating of such Borrower, a certificate stating that the Debt Rating of such Borrower has changed with evidence of the new Debt Rating.

        

        

        Information required to be delivered pursuant to this Section 6.03 shall be deemed to have been delivered if such information shall have been posted by such Borrower on an Intralinks or
          similar site to which the Administrative Agent has been granted access or shall be available on the website of the Securities and Exchange Commission at http://www.sec.gov and such Borrower shall have notified the Administrative Agent of the
          availability of all Form 10-Q and Form 10-K reports; provided that, if requested by the Administrative Agent or any Lender, such Borrower shall deliver a paper copy of such information to the Administrative Agent or such Lender.  Information
          required to be delivered pursuant to this Section 6.03 may also be delivered by electronic communications pursuant to procedures reasonably approved by the Administrative Agent.

        

        

        Each Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arrangers will make available to the Lenders and the Issuing Lenders materials and/or information provided by or
          on behalf of such Borrower hereunder that have been approved by such Borrower in writing including via electronic transmission (collectively, “Informational Materials”) by posting the
          Informational Materials on SyndTrak Online or another similar electronic means (collectively, the “Electronic Means”) and (b) certain prospective Lenders (“Public Lenders”) may not wish to receive material non-public information (within the meaning of the United States federal securities laws, “MNPI”)
          with respect to such Borrower or its Affiliates or any of their respective securities, and who may be engaged in investment and other market-related activities with respect to such entities’ securities.  Lenders will assume that all Informational
          Materials, other than publicly available Informational Materials filed pursuant to the Exchange Act or posted on such Borrower’s website, include MNPI.  Each Borrower hereby agrees that in the event any Informational Materials will not contain
          MNPI, such Borrower will notify Administrative Agent in writing (except with respect to Informational Materials filed pursuant to the Exchange Act, or posted on such Borrower’s website, which shall be deemed public) and such Borrower shall be
          deemed to have authorized the Administrative Agent, the Issuing Lenders and the Lenders to treat such Informational Materials as not containing any MNPI (although it may be sensitive and proprietary) with respect to such Borrower or its
          securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Informational Materials constitute
          Information, such Information shall be treated as set forth in Section 9.16 hereof).  Before distribution of any Informational Materials (a) to prospective Private Lenders, each Borrower shall provide the Administrative Agent with written
          authorization (including email) authorizing the dissemination of the Informational Materials and (b) to prospective Public Lenders, each Borrower shall provide the Administrative Agent with written authorization (including email) authorizing the
          dissemination of the Informational Materials and confirming, to such Borrower’s knowledge, the absence of MNPI therefrom.

        

        

        
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        Financial Covenants.  So long as any Lender shall have any Commitment hereunder or any Borrower shall have any obligation to pay any amount to the
          Administrative Agent or any Lender hereunder, each Borrower will, unless the Required Lenders shall otherwise consent in writing, maintain at the end of each fiscal quarter a ratio of Indebtedness of such Borrower and its Subsidiaries on a
          consolidated basis to Consolidated Total Capitalization of not more than 0.70 to 1.0; provided that, notwithstanding the foregoing, with respect to the Original Borrower, so long as the maximum ratio of
          Indebtedness of such Borrower and its Subsidiaries on a consolidated basis to Consolidated Total Capitalization as provided in Section 5.04 of the PNC Credit Agreement (or other corresponding section as subsequently amended or modified) is less
          than the maximum ratio of Indebtedness of such Borrower and its Subsidiaries on a consolidated basis to Consolidated Total Capitalization as provided in this Section 6.04, then such ratio in the PNC Credit Agreement shall be deemed
          automatically incorporated by reference in this Agreement as if set forth fully herein, mutatis mutandis.

        

        

        EVENTS OF DEFAULT

        

        

        Events of Default.  Each of the following events should they occur and be continuing with respect to a Borrower shall constitute an “Event of Default” with respect to such Borrower:

        

        

        Such Borrower shall fail to pay (i) any amount of principal of any Loan made to such Borrower or on any Reimbursement Obligation in respect of a Letter of Credit issued for the account of such
          Borrower when the same becomes due and payable or (ii) any interest, fees or any other amount payable by such Borrower hereunder within five (5) Business Days of when the same becomes due and payable; or

        

        

        Any representation or warranty made by or on behalf of such Borrower or any Subsidiary thereof in this Agreement, any Loan Document or by or on behalf of such Borrower or any Subsidiary thereof
          (or any of their officers) in connection with this Agreement, any Loan Document shall prove to have been incorrect in any material respect when made or deemed made; or

        

        

        Such Borrower shall fail (i) to perform or observe any term, covenant or agreement contained in Section 6.01(a), (c), (e), (g), (h), (i) or (j),
          Section 6.02 (other than subsection (i)), Section 6.03, or Section 6.04, or (ii) to perform or observe any other term, covenant or agreement contained in this Agreement (other than obligations specifically set forth
          elsewhere in this Section 7.01) on its part to be performed or observed if the failure to perform or observe such other term, covenant or agreement, shall remain unremedied for thirty (30) days after written notice thereof shall have been
          given to such Borrower by the Administrative Agent or any Lender; or

        

        

        
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          Such Borrower or any Significant Subsidiary thereof shall fail to pay any principal of or premium or interest on any Indebtedness (other than Indebtedness incurred by such Borrower under this Agreement) thereof in
            the aggregate (for all such Persons) in excess of $25,000,000, when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable
            grace period, if any, specified in the agreement or instrument relating to such Indebtedness; or any other event shall occur or condition shall exist under any agreement or instrument relating to any such Indebtedness and shall continue after
            the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate, or to permit (with or without the giving of notice, but without any further lapse of time) the holder or
            holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause the acceleration of, the maturity of such Indebtedness; or any such Indebtedness shall be declared to be due and payable, or required to be
            prepaid (other than by a regularly scheduled required prepayment), prior to the stated maturity thereof; or

        

         

        

        Such Borrower or any Significant Subsidiary thereof shall (i) generally not pay its debts as such debts become due, or (ii) admit in writing its inability to pay its debts generally, or (iii)
          make a general assignment for the benefit of creditors, or (iv) any case or proceeding shall be commenced by or against such Borrower or a Significant Subsidiary thereof seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation,
          winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any Debtor Relief Laws, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other
          similar official for it or for any substantial part of its property and, in the case of any such proceeding commenced against it (but not commenced by it), such proceeding shall remain undismissed or unstayed for a period of forty-five (45) days,
          or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or for any substantial part of its
          property) shall occur or such Borrower or a Significant Subsidiary thereof shall consent to or acquiesce in any such proceeding; or such Borrower or a Significant Subsidiary thereof shall take any corporate action to authorize any of the actions
          set forth above in this subsection (e); or

        

        

        Any judgments or orders for the payment of money in excess of $25,000,000 (in the aggregate) shall be rendered against such Borrower or any Significant Subsidiary thereof and either (i)
          enforcement proceedings shall have been commenced by any creditor upon any such judgment or order or (ii) there shall be any period of ten (10) consecutive days during which a stay of enforcement of any such judgment or order, by reason of a
          pending appeal or otherwise, shall not be in effect; or

        

        

        The obligations of such Borrower or any Subsidiary thereof under this Agreement or any other Loan Document shall become unenforceable, or such Borrower or any Subsidiary thereof, or any court or
          governmental or regulatory body having jurisdiction over such Borrower or any Subsidiary thereof, shall so assert in writing or such Borrower or any Subsidiary thereof shall contest in any manner the validity or enforceability thereof; or

        

        

        The occurrence of a Termination Event with respect to such Borrower; or

        

        

        Any Governmental Action with respect to such Borrower shall be rescinded, revoked, otherwise terminated, or amended or modified in any manner which is materially adverse to the interests of the
          Lenders and the Administrative Agent; or

        

        

        An “Event of Default” or “Default” under the SJI Credit Agreement; or

        

        

        
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        A Change in Control shall occur.

        

        

        Upon an Event of Default.  Upon the occurrence of an Event of Default with respect to a Borrower, with the consent of the Required Lenders, the
          Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to such Borrower:

        

        

        Acceleration; Termination of Credit Facility.  (i) Declare the principal of and interest on the Reimbursement Obligations of such Borrower, the Loans made to such Borrower, the Notes
          issued by such Borrower and the other Obligations of such Borrower (except for Hedging Obligations, which shall be governed by the terms and conditions of the documents controlling such obligations) at the time outstanding, and all other amounts
          owed to the Lenders and to the Administrative Agent under this Agreement (including, without limitation, all L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required
          thereunder), to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement to the
          contrary notwithstanding, and (ii) terminate the obligation of each Lender to issue Letters of Credit for such Borrower’s account or to make any Loans or other Extensions of Credit to such Borrower and any right of such Borrower to request
          Letters of Credit, Loans or other Extensions of Credit hereunder; provided, that upon the occurrence of an Event of Default with respect to such Borrower specified in Section 7.01(e), the
          obligation of each Lender to issue Letters of Credit for such Borrower’s account or to make Loans or other Extensions of Credit to such Borrower shall be automatically terminated and all Obligations of such Borrower (except for Hedging
          Obligations, which shall be governed by the terms and conditions of the documents controlling such obligations) shall automatically become due and payable without presentment, demand, protest or other notice of any kind, all of which are
          expressly waived, anything in this Agreement or in any other Loan Document to the contrary notwithstanding.

        

        

        Letters of Credit.  With respect to all Letters of Credit issued for the account of such Borrower with respect to which presentment for honor shall not have occurred at the time of an
          acceleration pursuant to Section 7.02(a), require such Borrower at such time to deposit in a cash collateral account with the Administrative Agent an amount equal to the aggregate then undrawn and unexpired amount of such Letters of
          Credit.  Amounts held in such cash collateral account shall be applied by the Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or
          been fully drawn upon, if any, shall be applied to repay the other Obligations of such Borrower.  After all such Letters of Credit shall have expired or been fully drawn upon, and all Obligations of such Borrower shall have been paid in full, the
          balance, if any, in such cash collateral account shall be returned to such Borrower.

        

        

        Rights and Remedies Cumulative; Non-Waiver; Etc.

        

        

        The enumeration of the rights and remedies of the Administrative Agent and the Lenders set forth in this Agreement is not intended to be exhaustive, and the exercise by the Administrative Agent
          and the Lenders of any right or remedy shall not preclude the exercise of any other rights or remedies, all of which shall be cumulative, and shall be in addition to any other right or remedy given hereunder or that may now or hereafter exist in
          law or in equity or by suit or otherwise.  No delay or failure to take action on the part of the Administrative Agent or any Lender in exercising any right, power or privilege shall operate as a waiver thereof, nor shall any single or partial
          exercise of any such right, power or privilege preclude other or further exercise thereof or the exercise of any other right, power or privilege or shall be construed to be a waiver of any Event of Default.  No course of dealing between any
          Borrower, the Administrative Agent and the Lenders or their respective agents or employees shall be effective to change, modify or discharge any provision of this Agreement or any of the other Loan Documents or to constitute a waiver of any Event
          of Default.

        

        

        
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        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 any
          Borrower 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 7.02 for the
          benefit of all the Lenders and the Issuing Lenders; provided that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its
          benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) any Issuing Lender or the Swingline Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as an
          Issuing Lender or Swingline Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 9.04 (subject to the terms of Section 2.16), 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 Borrower 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 7.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.16, 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.

        

        

        THE ADMINISTRATIVE AGENT

        

        

        Appointment and Authority.  Each of the Lenders and each Issuing Lender hereby irrevocably designates and appoints Wells Fargo to act on its behalf as
          the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or
          thereof, together with such actions and powers as are reasonably incidental thereto.  The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the Issuing Lender, and no Borrower or any Subsidiary
          thereof shall have rights as a third party beneficiary of any of such provisions.  It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative
          Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any Applicable Law.  Instead such term is used as a matter of market custom, and is intended to create or reflect only an
          administrative relationship between contracting parties.

        

        

        
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        Rights as a Lender.  The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any
          other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the
          Administrative Agent hereunder in its individual capacity.  Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business
          with any Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.

        

        

        Exculpatory Provisions.  The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan
          Documents, and its duties hereunder and thereunder shall be administrative in nature.  Without limiting the generality of the foregoing, the Administrative Agent:

        

        

        shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

        

        

        shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents
          that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any
          Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting
          Lender in violation of any Debtor Relief Law.

        

        

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

        

        

        The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the
          Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section 9.01 or Section 7.02) or (ii) in the absence of its own gross negligence
          or willful misconduct as determined by a court of competent jurisdiction by final nonappealable judgment.  The Administrative Agent shall be deemed not to have knowledge of any Default or Event of Default unless and until notice describing such
          Default or Event of Default is given to the Administrative Agent by the applicable Borrower, a Lender or an Issuing Lender.

        

        

        
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        The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or
          any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other
          terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, (v) the
          satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent, or (vi) the utilization of any Issuing Lender’s L/C
          Commitment (it being understood and agreed that each Issuing Lender shall monitor compliance with its own L/C Commitment without any further action by the Administrative Agent).

        

        

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

        

        

        Delegation of Duties.  The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other
          Loan Document by or through any one or more sub-agents appointed by the Administrative Agent.  The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective
          Related Parties.  The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the
          syndication of the facilities created under this Agreement as well as activities as Agent.

        

        

        
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        Resignation of Administrative Agent.

        

        

        The Administrative Agent may at any time give notice of its resignation to the Lenders, the Issuing Lenders and the Borrowers.  Upon receipt of any such notice of resignation, the Required
          Lenders shall have the right, in consultation with the Borrowers, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States.  If no such successor shall
          have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to), on behalf of the Lenders and the Issuing Lenders, appoint a successor Administrative
          Agent meeting the qualifications set forth above provided that if the Administrative Agent shall notify the Borrowers and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become
          effective on the Resignation Effective Date and (1) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the
          Administrative Agent on behalf of the Lenders or the Issuing Lenders under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is
          appointed) and (2) except for any indemnity payments owed to the retiring Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each
          Lender and each Issuing Lender directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this paragraph.  Upon the acceptance of a successor’s appointment as Administrative Agent
          hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties
          and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this paragraph).  The fees payable by the Borrowers to a successor Administrative Agent shall be the same as those payable to
          its predecessor unless otherwise agreed between the Borrowers and such successor.  After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 9.05 shall
          continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting
          as Administrative Agent or continues to hold collateral security.

        

        

        Any resignation by Wells Fargo as Administrative Agent pursuant to this Section shall also constitute its resignation as an Issuing Lender and Swingline Lender.  Upon the acceptance of a
          successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing Lender and Swingline Lender, (b) the retiring Issuing
          Lender and Swingline Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor Issuing Lender shall issue letters of credit in substitution for the Letters of
          Credit, if any, outstanding at the time of such succession or make other arrangement satisfactory to the retiring Issuing Lender to effectively assume the obligations of the retiring Issuing Lender with respect to such Letters of Credit.

        

        

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

        

        

        
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        No Other Duties, Etc.  Anything herein to the contrary notwithstanding, none of the syndication agents, documentation agents, co-agents, joint book
          runners, lead manager, arrangers, lead arrangers or co-arrangers listed on the cover page or signature pages hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity,
          as applicable, as the Administrative Agent, a Lender, the Swingline Lender or the Issuing Lender hereunder.

        

        

        Administrative Agent May File Proof of Claim.  In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding
          relative to any Borrower, 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 such Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:

        

        

        to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to
          file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the Issuing Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of
          the Lenders, the Issuing Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the Issuing Lenders and the Administrative Agent) allowed in such judicial proceeding; and

        

        

        to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

        

        

        and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and each Issuing 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 and the Issuing Lenders, to pay to the Administrative Agent any amount due for the
          reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent hereunder.

        

        

        Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender or Issuing Lender any plan of reorganization,
          arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or Issuing Lender to authorize the Administrative Agent to vote in respect of the claim of any Lender or Issuing Lender in any such proceeding.

        

        

        Certain ERISA Matters.

        

        

        Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such
          Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrowers, that at least one of the following is and will be true:

        

        

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

        

        

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

        

        

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

        

        

        such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.

        

        

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

        

        

        
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        MISCELLANEOUS

        

        

        Amendments, Etc.  No amendment or waiver of any provision of this Agreement, nor consent to any departure by any Borrower therefrom, shall in any event
          be effective unless the same shall be in writing and signed by the Required Lenders and the Borrowers, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, except as otherwise provided in Section 2.18, no such waiver and no such amendment, supplement or modification shall (a) extend the Termination Date or the maturity of any Loan or
          unreimbursed drawing, or reduce the rate or extend the time of payment of interest in respect thereof, or reduce any fee payable to any Lender hereunder or extend the time for the payment thereof or increase the amount of any Lender’s Commitment,
          in each case without the written consent of each Lender directly and adversely affected thereby (provided that only the consent of the Required Lenders shall be necessary to waive any obligation of any Borrower to pay interest at the rate set
          forth in Section 2.10(c) during the continuance of an Event of Default with respect to such Borrower), (b) amend, modify or waive any provision of this Section 9.01 or Section 9.09(d) or reduce the percentage specified in
          the definition of Required Lenders, or consent to the assignment or transfer by any Borrower of any of its rights and obligations under this Agreement, in each case without the written consent of all the Lenders, (c) amend, modify or waive any
          provision of Article VIII without the written consent of the Administrative Agent, (d) waive, modify or eliminate any of the conditions precedent specified in Section 4.01, in each case without the written consent of all the
          Lenders, (e) forgive principal, interest, fees or other amounts payable hereunder without the written consent of each Lender directly and adversely affected thereby, (f) amend, modify or waive any right or duty of any Issuing Lender under this
          Agreement without the written consent of such Issuing Lender, (g) waive any requirement for the release of collateral without the written consent of all the Lenders or (h) amend, modify or waive any right or duty of the Swingline Lender under
          this Agreement without the written consent of the Swingline Lender; provided further, that (i) each Fee Letter may be amended, or rights or privileges thereunder
          waived, in a writing executed only by the parties thereto, and (ii) the Administrative Agent and the Borrowers shall be permitted to amend any provision of the Loan Documents (and such amendment shall become effective without any further action
          or consent of any other party to any Loan Document) if the Administrative Agent and the Borrowers shall have jointly identified an obvious error or any error or omission of a technical or immaterial nature in any such provision.  Notwithstanding
          anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended without the consent of such
          Lender.

        

        

        Notices, Etc.

        

        

        Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in paragraph (b) below), all notices and other communications provided
          for hereunder shall be in writing (including telegraphic communication) and delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile as follows:

        

        

        
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        Any Borrower:

        

        

        South Jersey Industries, Inc.

        1 South Jersey Plaza

        Folsom, New Jersey 08037

        Attention:  Ann T. Anthony

        Facsimile No.:  (609) 561-8225

        

        

        With a copy to:

        

        

        Cozen O’Connor

        One Liberty Place

        1650 Market Street, Suite 2800

        Philadelphia, Pennsylvania 19103

        Attention:  Richard J. Busis, Esq.

        Facsimile No.:  (215) 665-2013

        

        

        The Administrative Agent or Swingline Lender:

        

        

        Wells Fargo Bank, National Association

        1525 W W.T. Harris Boulevard

        Charlotte, NC 28262

        Mail Code:  D1109-019

        Attention:  Syndication Agency Services

        Telephone:  704-590-2703

        Facsimile:  704-715-0092

        

        

        With a copy to:

        

        

        Wells Fargo Bank, National Association

        301 S. College St., 11th Floor

        Charlotte, NC 28202

        MAC:  D1053-115

        Attention:  Patrick Engel

        Telephone:  704-374-2385

        Facsimile:  704-410-0331

        

        

        With a copy to:

        

        

        Robinson, Bradshaw & Hinson, P.A.

        101 North Tryon Street

        Suite 1900

        Charlotte, North Carolina 28246-0103

        Attention:  Jeffrey A. Henson, Esq.

        Facsimile No.:  (704) 373-3942

        

        

        If to any Issuing Lender, to it at its address, fax number, e-mail address or telephone number most recently specified by it in a notice delivered to the Administrative Agent and the Borrowers
          (or, in the absence of any such notice, to the address, fax number, e-mail address or telephone number set forth in the administrative questionnaire of the Lender that is serving as such Issuing Lender or is an Affiliate thereof).

        

        

        
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        If to any Lender, at its address or telecopy number set forth on Schedule I hereto; or, as to each party, at such other address as shall be designated by such party in a written
          notice to the other parties.  All such notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile shall be deemed to have been given
          when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient).  Notices delivered through electronic communications
          to the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b).

        

        

        Notices and other communications to the Lenders and the Issuing Lenders 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 Issuing Lender pursuant to Article II if such Lender or such Issuing Lender, as applicable, has
          notified the Administrative Agent that is incapable of receiving notices under such Article by electronic communication.  The Administrative Agent or any 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), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of
          notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice, email or other communication is not sent during the normal business
          hours of the recipient, such notice, email or other communication shall be deemed to have been sent at the opening of business on the next business day for the recipient.

        

        

        Any party hereto may change its address or facsimile number for notices and other communications hereunder by notice to the other parties hereto.

        

        

        Each Borrower agrees that the Administrative Agent may, but shall not be obligated to, make the Informational Materials available to the Issuing Lenders and the other Lenders by posting the
          Informational Materials on 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 Informational Materials or the adequacy of the Platform, and
          expressly disclaim liability for errors or omissions in the Informational Materials.  No warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular purpose,
          non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Informational Materials or the Platform.  In no event shall the Administrative Agent or any of its Related
          Parties (collectively, the “Agent Parties”) have any liability to any Borrower, any Lender or any other Person or entity for losses, claims, damages, liabilities or expenses of any kind
          (whether in tort, contract or otherwise) arising out of such Borrower’s or the Administrative Agent’s transmission of communications through the Internet (including, without limitation, the Platform), except to the extent that such losses,
          claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided that in no event shall
          any Agent Party have any liability to any Borrower, any Lender, any Issuing Lender or any other Person for indirect, special, incidental, consequential or punitive damages, losses or expenses (as opposed to actual damages, losses or expenses).

        

        

        
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        No Waiver; Remedies.  No failure on the part of the Administrative Agent, the Issuing Lender or any Lender 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 right hereunder preclude any other or further exercise thereof or the exercise of any other right.  The remedies herein provided are cumulative and
          not exclusive of any remedies provided by law.

        

        

        Set-off.

        

        

        If an Event of Default with respect to a Borrower shall have occurred and be continuing, the Administrative Agent, each Lender, each Issuing Lender and each of their respective Affiliates is
          hereby authorized at any time and from time to time, to the fullest extent permitted by Applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held
          and other obligations (in whatever currency) at any time owing by the Administrative Agent, such Lender, such Issuing Lender or any such Affiliate to or for the credit or the account of such Borrower against any and all of the obligations of such
          Borrower now or hereafter existing under this Agreement or any other Loan Document to such Lender or such Issuing Lender, irrespective of whether or not such Lender or  such Issuing Lender shall have made any demand under this Agreement or any
          other Loan Document and although such obligations of such Borrower may be contingent or unmatured or are owed to a branch or office of such Lender or such Issuing Lender different from the branch or office holding such deposit or obligated on
          such indebtedness.  The rights of each Lender, each Issuing Lender and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that the Administrative Agent, such Lender, such
          Issuing Lender or their respective Affiliates may have; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (i) all amounts so set off shall be paid over
          immediately to the Administrative Agent for further application in accordance with the provisions of Section 3.07 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, the Issuing Lender, and the Lenders, and (ii) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting
          Lender as to which it exercised such right of setoff.  The rights of each Lender, each Issuing Lender and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such
          Lender, the Issuing Lender or their respective Affiliates may have.  Each Lender and each Issuing Lender agrees to notify the applicable Borrower and the Administrative Agent promptly after any such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and application.

        

        

        
          85

          
            

        

        If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans or other obligations hereunder
          resulting in such Lender receiving payment of a proportion of the aggregate amount of its Loans and accrued interest thereon or other such obligations greater than its pro rata share thereof as provided herein, then the Lender receiving such
          greater proportion shall (i) notify the Administrative Agent of such fact, and (ii) purchase (for cash at face value) participations in the Loans and such other obligations of the other Lenders, or make such other adjustments as shall be
          equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that:

        

        

        if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price
          restored to the extent of such recovery, without interest; and

        

        

        the provisions of this paragraph shall not be construed to apply to (A) any payment made by any Borrower pursuant to and in accordance with the express terms of this Agreement
          (including the application of funds arising from the existence of a Defaulting Lender), or (B) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in L/C
          Obligations to any assignee or participant, other than to such Borrower or any Subsidiary thereof (as to which the provisions of this paragraph shall apply).

        

        

        Each Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements
          may exercise against such Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Borrower in the amount of such participation.

        

        

        Indemnification.  Each Borrower shall, severally and not jointly, indemnify the Administrative Agent (and any sub-agent thereof), Arrangers, each Lender
          and the each Issuing Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, and
          shall pay or reimburse any such Indemnitee for, any and all losses, claims (including, without limitation, any Environmental Claims or civil penalties or fines assessed by OFAC), damages, liabilities and related reasonable out-of-pocket expenses
          (and shall pay or reimburse any such Indemnitee for including the fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any third party or by such Borrower arising out
          of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective
          obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the any Issuing Lender to
          honor a demand for payment under a Letter of Credit issued by such Issuing Lender if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or
          Release of Hazardous Materials on or from any property owned or operated by such Borrower or any Subsidiary thereof, or any Environmental Claim related in any way to such Borrower or any Subsidiary thereof, (iv) any actual or prospective claim,
          litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by such Borrower or any Subsidiary thereof, and regardless of whether any
          Indemnitee is a party thereto, or (v) any claim (including, without limitation, any Environmental Claims or civil penalties or fines assessed by the U.S. Department of the Treasury’s Office of Foreign Assets Control), investigation, litigation or
          other proceeding (whether or not the Administrative Agent or any Lender is a party thereto) and the prosecution and defense thereof, arising out of or in any way connected with the Loans, this Agreement, any other Loan Document, or any documents
          contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby, including without limitation, reasonable attorneys and consultant’s fees, in each case to the extent of such Borrower’s Applicable Share (unless
          attributable to a specific Borrower, in which case such Borrower shall be solely liable), provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related
          expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of an Indemnitee or (y) result from a claim brought by such Borrower or any
          Subsidiary thereof against an Indemnitee or any controlled Affiliate or other Related Party of such Indemnitee directly involved in the with the transactions contemplated by this Agreement for breach in bad faith of such Indemnitee’s obligations
          hereunder or under any other Loan Document, if such Borrower or such Subsidiary has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction.

        

        

        
          86

          
            

        

        To the extent that a Borrower for any reason fails to indefeasibly pay any amount required under this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any Issuing
          Lender, the Swingline Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such Issuing Lender, the Swingline Lender or such Related Party, as the case may
          be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s Commitment Percentage at such time, or if the Commitments have been reduced to zero, then
          based on such Lender’s Commitment Percentage immediately prior to such reduction) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that the
          unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such Issuing Lender or the Swingline Lender in its
          capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such Issuing Lender or the Swingline Lender in connection with such capacity.  The obligations of the Lenders
          under this paragraph are subject to the provisions of Section 2.16.

        

        

        To the fullest extent permitted by applicable law, no Borrower shall assert, and each Borrower hereby waives, any claim against any Indemnitee on any theory of liability for special, indirect,
          consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions
          contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof.  No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it
          through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.  In addition, and without limitation of the
          indemnity provided in this Section, the Administrative Agent and each Lender agree not to assert any claim against any Borrower on any theory of liability for special, indirect, consequential or punitive damages (as opposed to direct or actual
          damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, or the transactions contemplated hereby or thereby.

        

        

        
          87

          
            

        

        All amounts due under this Section 9.05 shall be payable promptly after demand therefor.  Nothing in this Section 9.05 is intended to limit any Borrower’s obligations contained in
          Article II.  Without prejudice to the survival of any other obligation of any Borrower hereunder, the indemnities and obligations of the Borrowers contained in this Section 9.05 shall survive the payment in full of amounts payable
          pursuant to Article II and Article III and the termination of the Commitments.

        

        

        Liability of the Lenders.

        

        

        Each Borrower assumes all risks of the acts or omissions of each beneficiary or transferee of the Letters of Credit issued for its account with respect to their use of such Letters of Credit. 
          None of the Issuing Lenders, the Administrative Agent, the Lenders nor any of their respective officers or directors shall be liable or responsible for:  (a) the use which may be made of any Letter of Credit or any acts or omissions of each
          beneficiary or transferee in connection therewith; (b) the validity, sufficiency or genuineness of documents, or of any endorsement thereon, even if such documents should prove to be in any or all respects invalid, insufficient, fraudulent or
          forged; (c) payment by any Issuing Lender against presentation of documents which do not comply with the terms of any Letter of Credit issued by it, including failure of any documents to bear any reference or adequate reference to any such Letter
          of Credit; or (d) any other circumstances whatsoever in making or failing to make payment under the Letters of Credit, except that the applicable Borrower shall have a claim against the applicable Issuing Lender and such Issuing Lender shall be
          liable to such Borrower, to the extent of any direct, as opposed to consequential, damages suffered by such Borrower which such Borrower proves were caused by (i) such Issuing Lender’s willful misconduct or gross negligence in determining whether
          documents presented under any Letter of Credit issued by it for the account of such Borrower are genuine or comply with the terms of such Letter of Credit or (ii) the Issuing Lender’s willful or grossly negligent failure, as determined by a court
          of competent jurisdiction, to make lawful payment under the Letters of Credit issued for the account of such Borrower after the presentation to it of a certificate strictly complying with the terms and conditions of such Letters of Credit.  In
          furtherance and not in limitation of the foregoing, the Issuing Lender may accept original or facsimile (including telecopy) certificates presented under the Letters of Credit that appear on their face to be in order, without responsibility for
          further investigation, regardless of any notice or information to the contrary.

        

        

        
          88

          
            

        

        Costs, Expenses and Taxes.  Each Borrower, severally but not jointly, agrees to pay on demand its Applicable Share (unless such cost or expense is
          attributable to a specific Borrower, in which case such Borrower shall be solely liable for such amount) of all reasonable costs and expenses in connection with the preparation, issuance, delivery, filing, recording, and administration of this
          Agreement, the Letters of Credit, the Loans, the other Extensions of Credit and any other documents which may be delivered in connection with this Agreement, including, without limitation, the reasonable fees and out‐of‐pocket expenses of counsel
          for the Administrative Agent and the Issuing Lenders incurred in connection with the preparation and negotiation of this Agreement, the issuance of Letters of Credit, the Loans, the other Extensions of Credit and any document delivered in
          connection therewith and all reasonable costs and expenses incurred by the Administrative Agent (and, in the case of clause (ii) below, the Issuing Lenders, and in the case of clause (iii) or (iv) below, any Lender) (including reasonable fees and
          out of pocket expenses of counsel) in connection with (i) with the use of Intralinks Inc., SyndTrak or other similar information transmission systems in connection with the Loan Documents, (ii) the transfer, drawing upon, change in terms,
          maintenance, renewal or cancellation of this Agreement, the Letters of Credit, the Loans and the other Extensions of Credit, (iii) any and all amounts which the Administrative Agent or any Lender has paid relative to the Administrative Agent’s or
          such Lender’s curing of any Event of Default resulting from the acts or omissions of such Borrower under this Agreement or any other Loan Document, (iv) the enforcement of, or protection of rights under, this Agreement or any other Loan Document
          (whether through negotiations, legal proceedings or otherwise), (v) any action or proceeding relating to a court order, injunction, or other process or decree restraining or seeking to restrain the Issuing Lender from paying any amount under the
          Letters of Credit or (vi) any waivers or consents or amendments to or in respect of this Agreement, the Letters of Credit, the Loans or the other Extensions of Credit requested by such Borrower.  In addition, each Borrower shall pay its
          Applicable Share (unless such cost or expense is attributable to a specific Borrower, in which case such Borrower shall be solely liable for such amount) of any and all stamp and other taxes and fees payable or determined to be payable in
          connection with the execution, delivery, filing and recording of this Agreement, the Letters of Credit, the Loans, the other Extensions of Credit or any of such other documents, and agree to save the Issuing Lender, the Administrative Agent and
          the Lenders harmless from and against any and all liabilities with respect to or resulting from any delay in paying or omission to pay such taxes and fees.  Without prejudice to the survival of any other agreement of any Borrower hereunder, the
          agreements and obligations of the Borrowers, the Administrative Agent, the Lenders and the Issuing Lender contained in this Section shall survive the payment in full of the Obligations and the termination of the Commitments.

        

        

        To the extent that any Borrower for any reason fails to indefeasibly pay any amount required under this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), any
          Issuing Lender, the Swingline Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such Issuing Lender, the Swingline Lender or such Related Party, as the
          case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense payment is sought based on each Lender’s Commitment Percentage at such time, or if the Commitments have been reduced to zero, then based
          on such Lender’s Commitment Percentage immediately prior to such reduction) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided that the unreimbursed expense was incurred by or asserted
          against the Administrative Agent (or any such sub-agent), such Issuing Lender or the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such
          Issuing Lender or the Swingline Lender in connection with such capacity.  The obligations of the Lenders under this paragraph are subject to the provisions of Section 2.16.

        

        

        
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        [Reserved]

        

        

        Benefit of Agreement.

        

        

        Successors and Assigns Generally.  The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns
          permitted hereby, except that no Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any
          of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation in accordance with the provisions of paragraph (d) of this Section or (iii) by way
          of pledge or assignment of a security interest subject to the restrictions of paragraph (f) of this Section (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 paragraph (d) of this Section and, to the extent expressly
          contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

        

        

        Assignments by Lenders.  Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its
          Commitment and the Loans at the time owing to it); provided that any such assignment shall be subject to the following conditions:

        

        

        Minimum Amounts.

        

        

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

        

        

        in any case not described in paragraph (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 principal outstanding balance of the Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is
          delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date) shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default with
          respect to such Borrower has occurred and is continuing, each Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided that each Borrower shall be deemed to have given its consent five (5) Business Days
          after the date written notice thereof has been delivered by the assigning Lender (through the Administrative Agent) unless such consent is expressly refused by such Borrower prior to such fifth (5th) Business Day;

        

        

        
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        Proportionate Amounts.  Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this
          Agreement with respect to the Loan or the Commitment assigned;

        

        

        Required Consents.  No consent shall be required for any assignment except to the extent required by paragraph (b)(i)(B) of this Section and, in addition:

        

        

        the consent of each Borrower (such consent not to be unreasonably withheld) shall be required unless (x) an Event of Default with respect to such Borrower has occurred and is
          continuing at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided, that each 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;

        

        

        the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required for assignments if such assignment is to a Person that is
          not a Lender with a Commitment, an Affiliate of such Lender or an Approved Fund with respect to such Lender; and

        

        

        the consents of the Issuing Lenders and the Swingline Lender shall be required for any assignment.

        

        

        Assignment and Assumption.  The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing
          and recordation fee of $3,500 for each assignment (provided, that (A) only one such fee will be payable in connection with simultaneous assignments to two or more Approved Funds by a Lender and (B) the Administrative Agent may, in its sole
          discretion, elect to waive such processing and recordation fee in the case of any assignment), and the assignee, if it is not a Lender, shall deliver to the Administrative Agent an administrative questionnaire.

        

        

        No Assignment to Certain Persons.  No such assignment shall be made to (A) any Borrower or any of their respective Affiliates or Subsidiaries or (B) to any Defaulting
          Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B).

        

        

        No Assignment to Natural Persons.  No such assignment shall be made to a natural Person (or a holding company, investment vehicle or trust for, or owned and operated for
          the primary benefit of, a natural Person).

        

        

        
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        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 Borrowers 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, each
          Issuing Lender, the Swingline Lender and each other 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 Swingline Loans in
          accordance with its Commitment Percentage.  Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under Applicable Law without compliance with the
          provisions of this 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.

        

        

        Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee
          thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the
          extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this
          Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 2.12, 2.14, 2.17, 2.21, 9.05 and 9.07 with respect to facts and circumstances
          occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a
          waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.  Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall
          be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section (other than a purported assignment to a Person specified in paragraph (b)(vi) of
          this Section or any Borrower or any of their respective Subsidiaries or Affiliates, which shall be null and void).

        

        

        Register.  The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrowers, shall maintain at one of its offices in Charlotte, North Carolina, a copy of
          each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amounts of the Loans owing to, each Lender pursuant to the terms hereof from time to
          time (the “Register”).  The entries in the Register shall be conclusive, absent manifest error, and the Borrowers, the Administrative Agent, the Issuing Lenders and the Lenders may treat
          each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.  The Register shall be available for inspection by the Borrowers and
          any Lender (but only to the extent of entries in the Register that are applicable to such Lender), at any reasonable time and from time to time upon reasonable prior notice.

        

        

        
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        Participations.  Any Lender may at any time, without the consent of, or notice to, the Borrowers or the Administrative Agent, sell participations to any Person (other than a natural
          Person, a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, or any Borrower or any Affiliates or Subsidiaries of a Borrower) (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 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 Borrowers, the Administrative
          Agent, Issuing Lenders, Swingline Lender 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.  For the avoidance of doubt, each Lender
          shall be responsible for the indemnity under Sections 9.05 and 9.07 with respect to any payments made by such Lender to its Participant(s).

        

        

        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, modification or waiver or
          modification described in Section 9.01 that directly affects such Participant and could not be effected by a vote of the Required Lenders.  Subject to paragraph (e) of this Section, each Borrower agrees that each Participant shall be
          entitled to the benefits of Sections 2.12, 2.17 and 2.21 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section.  To the extent permitted by law,
          each Participant also shall be entitled to the benefits of Section 9.04 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.16 as though it were a Lender.

        

        

        Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrowers, maintain a register on which it enters the name and address of each
          Participant and the principal amounts of (and stated interest on) each Participant’s interest in the Loans or other Obligations under the Loan Documents (the “Participant Register”);
          provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of
          credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section
          5f.103-1(c) of the United States Treasury Regulations.  The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of
          such participation for all purposes of this Agreement notwithstanding any notice to the contrary.  For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a
          Participant Register.

        

        

        Limitations upon Participant Rights.  A Participant shall not be entitled to receive any greater payment under Sections 2.17 and 2.21 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 each Borrower’s prior written consent.  No Participant shall be entitled to the benefits of
          Section 2.17 unless the Borrowers are notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 2.17 as though it were a Lender.

        

        

        
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        Certain Pledges.  Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including
          without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or
          substitute any such pledgee or assignee for such Lender as a party hereto.

        

        

        Severability.  Any provision of this Agreement which is prohibited, unenforceable or not authorized in any jurisdiction shall, as to such jurisdiction,
          be ineffective to the extent of such prohibition, unenforceability or non-authorization without invalidating the remaining provisions hereof or affecting the validity, enforceability or legality of such provision in any other jurisdiction.

        

        

        Governing Law.  This agreement shall be governed by, and construed in accordance with, the laws of the state of
          New York.

        

        

        Headings.  Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for
          any other purpose.

        

        

        Submission To Jurisdiction; Waivers.  Each Borrower hereby irrevocably and unconditionally:

        

        

        agrees that it will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the Administrative
          Agent, any Lender, any Issuing Lender, the Swingline Lender, or any Related Party of the foregoing in any way relating to this Agreement or any other Loan Document or the transactions relating hereto or thereto, in any forum other than Courts of
          the State of New York, the courts of the United States of America for the Southern District of New York, and appellate courts from any thereof, and submits to the jurisdiction of such courts and agrees that all claims in respect of any such
          action, litigation or proceeding may be heard and determined in such State court or, to the fullest extent permitted by Applicable Law, in such federal court;

        

        

        consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such
          court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same;

        

        

        agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage
          prepaid, to such Borrower at its address set forth in Section 9.02 or at such other address of which the Administrative Agent shall have been notified pursuant thereto; and

        

        

        agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction.

        

        

        This Section 9.13 shall not be construed to confer a benefit upon, or grant a right or privilege to, any Person other than the parties hereto.

        

        

        
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        Acknowledgments.  Each Borrower hereby acknowledges:

        

        

        it has been advised by counsel in the negotiation, execution and delivery of this Agreement and other Loan Documents;

        

        

        neither the Administrative Agent, the Issuing Lenders nor any Lender has a fiduciary relationship to such Borrower, and the relationship between the Administrative Agent, the Issuing Lender and
          any Lender, on the one hand, and such Borrower on the other hand, is solely that of debtor and creditor; and

        

        

        no joint venture exists between such Borrower and the Administrative Agent, the Issuing Lender or any Lender.

        

        

        Waivers of Jury Trial.  TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE BORROWERS, THE ADMINISTRATIVE AGENT, THE ISSUING LENDERS AND THE
          LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.  THIS SECTION 9.15 SHALL NOT BE CONSTRUED TO
          CONFER A BENEFIT UPON, OR GRANT A RIGHT OR PRIVILEGE TO, ANY PERSON OTHER THAN THE PARTIES HERETO.

        

        

        Confidentiality.  Each of the Administrative Agent, the Lenders and the Issuing Lenders agree to maintain the confidentiality of the Information (as
          defined below) with respect to each Borrower and use it only for purposes of this Agreement, the Loan Documents and the transactions contemplated hereby and thereby, or for any other reason relating to this Agreement, except that Information with
          respect to any Borrower may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, advisors and other representatives for the purpose of evaluating, negotiating or entering
          into transactions contemplated hereby (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent
          requested by, or required to be disclosed to, any rating agency, or regulatory or similar authority purporting to have jurisdiction over it (including any self-regulatory authority, such as the National Association of Insurance Commissioners),
          (c) to the extent required by Applicable Laws or regulations or by any subpoena or any legal, judicial, administrative or other compulsory process, (d) to any other party hereto, (e) in connection with the exercise of any remedies under this
          Agreement 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, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement, or (ii) any actual or prospective counterparty (or its Related
          Parties) to any swap derivative or other transaction under which payments are to be made by reference to such Borrower and its obligations, this Agreement or payments hereunder, (g) with the consent of such Borrower, (h) to Thomson Reuters, other
          bank market data collectors and other similar bank trade publications, such information to consist of deal terms and other information customarily found in such publications, or (i) to the extent such Information (x) becomes publicly available
          other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender, any Issuing Lender or any of their respective Affiliates on a nonconfidential basis from a source other than such Borrower and
          such source is not known by the Person receiving such Information to be in violation of this Section 9.16 or (j) to governmental regulatory authorities in connection with any regulatory examination of the Administrative Agent or any
          Lender or in accordance with the Administrative Agent’s or any Lender’s regulatory compliance policy if the Administrative Agent or such Lender deems necessary for the mitigation of claims by those authorities against the Administrative Agent or
          such Lender or any of its subsidiaries or affiliate or (k) on a confidential basis to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to this Agreement.  For purposes of
          this Section, “Information” means all information received from or on behalf of any Borrower or any Subsidiary thereof relating to such Borrower or any Subsidiary thereof or any of their
          respective businesses, other than any such information that is available to the Administrative Agent, any Lender or the Issuing Lender on a nonconfidential basis without breach of this Section 9.16 prior to disclosure by such Borrower or
          any Subsidiary thereof; provided that, in the case of information received from such Borrower or any Subsidiary thereof 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 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 Issuing Lender, the Lenders and Participants shall promptly notify the applicable Borrower of
          its receipt of any subpoena or similar process or authority, unless prohibited therefrom by the issuing Person.  The confidentiality obligations applicable to the Administrative Agent, the Lenders and the Issuing Lenders in this Section 9.16
          shall supersede any confidentiality obligations applicable to such parties in the Commitment Letter dated June 28, 2017 between the Original Borrower and the Commitment Parties (as defined therein).

        

        

        
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        Counterparts; Integration; Effectiveness; Electronic Execution.  This Agreement may be executed in counterparts (and by different parties hereto in
          different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Agreement and the other Loan Documents, and any separate letter agreements with respect to fees
          payable to the Administrative Agent, the any Issuing Lender, the Swingline Lender and/or any Arranger, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and
          understandings, oral or written, relating to the subject matter hereof.  Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative
          Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or in electronic (i.e.,
          “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement.

        

        

        The words “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption 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.

        

        

        
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        Reversal of Payments.  To the extent any Borrower makes a payment or payments to the Administrative Agent for the ratable benefit of the Lenders or the
          Administrative Agent receives any payment or proceeds of any collateral which payments or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee,
          receiver or any other party under any Debtor Relief Law, other Applicable Law or equitable cause, then, to the extent of such payment or proceeds repaid, the Obligations of such Borrower or part thereof intended to be satisfied shall be revived
          and continued in full force and effect as if such payment or proceeds had not been received by the Administrative Agent.

        

        

        No Advisory or Fiduciary Responsibility.

        

        

        In connection with all aspects of each transaction contemplated hereby, each Borrower acknowledges and agrees, and acknowledges its Affiliates’ understanding, that (i) the credit facility
          provided for hereunder and any related arranging or other services in connection therewith (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document) are an arm’s-length commercial transaction
          between such Borrower, on the one hand, and the Administrative Agent, the Arrangers, the Lenders, and the Issuing Lenders on the other hand, and such Borrower is capable of evaluating and understanding and understands and accepts the terms, risks
          and conditions of the transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof), (ii) in connection with the process leading to such transaction, each of the
          Administrative Agent, the Arrangers, the Lenders, and the Issuing Lenders is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for such Borrower or any of its Affiliates, stockholders, creditors or
          employees or any other Person, (iii) none of the Administrative Agent, the Arrangers, the Lenders, or the Issuing Lenders has assumed or will assume an advisory, agency or fiduciary responsibility in favor of such Borrower with respect to any of
          the transactions contemplated hereby or the process leading thereto, including with respect to any amendment, waiver or other modification hereof or of any other Loan Document (irrespective of whether any Arranger, Lender, or Issuing Lender has
          advised or is currently advising such Borrower or any of its Affiliates on other matters) and none of the Administrative Agent, the Arrangers, the Lenders, or the Issuing Lenders has any obligation to such Borrower or any of its Affiliates with
          respect to the financing transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents, (iv) the Administrative Agent, the Arrangers, the Lenders, and the Issuing Lenders and their respective
          Affiliates may be engaged in a broad range of transactions that involve interests that differ from, and may conflict with, those of such Borrower and its Affiliates, and none of the Administrative Agent, the Arrangers, the Lenders or the Issuing
          Lenders has any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship and (v) the Administrative Agent, the Arrangers, the Lenders, and the Issuing Lenders have not provided and will not provide
          any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby (including any amendment, waiver or other modification hereof or of any other Loan Document) and such Borrower has consulted its own
          legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate.

        

        

        
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        Each Borrower acknowledges and agrees that each Lender, the Arrangers and any Affiliate thereof may lend money to, invest in, and generally engage in any kind of business with, such Borrower or
          any of its Affiliates or any other person or entity that may do business with or own securities of any of the foregoing, all as if such Lender, Arranger or Affiliate thereof were not a Lender or Arranger or an Affiliate thereof (or an agent or
          any other person with any similar role under this Agreement) and without any duty to account therefor to any other Lender, the Arrangers, any Borrower or any Affiliate of the foregoing.  Each Lender, the Arrangers and any Affiliate thereof may
          accept fees and other consideration from any Borrower or any Affiliate thereof for services in connection with this Agreement or otherwise without having to account for the same to any other Lender, the Arrangers, any Borrower or any Affiliate of
          the foregoing.

        

        

        Acknowledgment and Consent to Bail-In of EEA Financial Institutions.  Solely to the extent any Lender or Issuing Lender that is an EEA Financial Institution
          is a party to this Agreement and notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender or
          Issuing Lender that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and
          acknowledges and agrees to be bound by:

        

        

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

        

        

        the effects of any Bail-In Action on any such liability, including, if applicable:

        

        

        a reduction in full or in part or cancellation of any such liability;

        

        

        a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge
          institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan
          Document; or

        

        

        the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.

        

        

        [SIGNATURE PAGES FOLLOW]

        

        

        
          98

          
            

        

        IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.

         

        

        	 	
                WELLS FARGO BANK, NATIONAL ASSOCIATION,

              
	 	
                as Administrative Agent, an Issuing Lender, as Swingline Lender and as a Lender

              
	 	 	 
	 	
                By:

              	 
	 	 	
                Name:

              
	 	 	
                Title:

              

         

        

        
          
            

        

        	 	
                SOUTH JERSEY GAS COMPANY

              
	 	 
	 	
                By:

              	 
	 	 	
                Name:  Ann T. Anthony

              
	 	 	
                Title:    Vice President and Treasurer

              
	 	 	 
	 	
                SJI UTILITIES, INC.

              
	 	 
	 	
                By:

              	 
	 	 	
                Name:  Ann T. Anthony

              
	 	 	
                Title:    Vice President and Treasurer

              

        

        

        
          
            

        

        	 	
                BANK OF AMERICA, N.A.,

              
	 	
                as an Issuing Lender and as a Lender

              
	 	 
	 	
                By:

              	
                

                

              
	 	 	
                Name:

              
	 	 	
                Title:

              

         

        

        
          
            

        

        	 	
                JPMORGAN CHASE BANK, N.A.,

              
	 	
                as an Issuing Lender and as a Lender

              
	 	 
	 	
                By:

              	
                

                

              
	 	 	
                Name:

              
	 	 	
                Title:

              

         

        

        
          
            

        

        	 	
                PNC BANK, NATIONAL ASSOCIATION,

              
	 	
                as an Issuing Lender and as a Lender

              
	 	 
	 	
                By:

              	
                

                

              
	 	 	
                Name:

              
	 	 	
                Title:

              

         

        

        
          
            

        

        	 	
                CITIZENS BANK OF PENNSYLVANIA,

              
	 	
                as a Lender

              
	 	 
	 	
                By:

              	
                

                

              
	 	 	
                Name:

              
	 	 	
                Title:

              

        

        

        
          
            

        

        	 	
                TD BANK, N.A.,

              
	 	
                as an Issuing Lender and as a Lender

              
	 	 
	 	
                By:

              	
                

                

              
	 	 	
                Name:

              
	 	 	
                Title:

              

        

        

        
          
            

        

        	 	
                BRANCH BANKING AND TRUST COMPANY, 

                

              
	 	as a Lender
	 	 	 
	 	
                By:

              	
                

                

              
	 	 	
                Name:

              
	 	 	
                Title:

              

        

        

        
          
            

        

        	 	
                KEYBANK NATIONAL ASSOCIATION,

              
	 	
                as a Lender

              
	 	 
	 	
                By:

              	
                

                

              
	 	 	
                Name:

              
	 	 	
                Title:

              

        

        

        
          
            

        

        	 	
                MANUFACTURERS AND TRADERS TRUST COMPANY, 

                

              
	 	as a Lender
	 	 	 
	 	
                By:

              	
                

                

              
	 	 	
                Name:

              
	 	 	
                Title:

              

        

        

        
          
            

        

        	 	
                PROVIDENT BANK,

              
	 	
                as a Lender

              
	 	 
	 	
                By:

              	
                

                

              
	 	 	
                Name:

              
	 	 	
                Title:EX-4.1

 Exhibit 4.1 

WARRANT AGREEMENT 
 THIS
WARRANT AGREEMENT (this “Agreement”), dated as of June 6, 2019, is by and between Haymaker Acquisition Corp. II, a Delaware corporation (the “Company”), and Continental Stock
Transfer & Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”, also referred to herein as the “Transfer Agent”). 

WHEREAS, the Company is engaged in an initial public offering (the “Offering”) of units of the Company’s equity
securities, each such unit comprised of one share of Class A common stock of the Company, par value $0.0001 per share (“Common Stock”) and one-third of one redeemable Public
Warrant (as defined below) (the “Units”) and, in connection therewith, has determined to issue and deliver up to 11,666,666 warrants (or up to 13,416,666 warrants if the Over-allotment Option is exercised in full) to public
investors in the Offering (the “Public Warrants”); and 
 WHEREAS, on June 6, 2019, the
Company entered into that certain Private Placement Warrants Purchase Agreement with Haymaker Sponsor II LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor has agreed to purchase an
aggregate 5,550,000 warrants (regardless of whether the Over-allotment Option (as defined below) in connection with the Company’s Offering is exercised in full) simultaneously with the closing of the Offering bearing the legend set forth
in Exhibit B hereto (the “Sponsor Private Placement Warrants”) at a purchase price of $1.50 per Sponsor Private Placement Warrant; and 

WHEREAS, on June 6, 2019, the Company entered into that certain Private Placement Warrants Purchase Agreement with Cantor
Fitzgerald & Co., the underwriter of the Offering (“Cantor”), and Stifel, Nicolaus & Company, Incorporated, the Company’s advisor (“Stifel”), pursuant to which Cantor and
Stifel have agreed to purchase 383,333 and 66,667 warrants, respectively (regardless of whether the Over-allotment Option (as defined below) in connection with the Company’s Offering is exercised in full), simultaneously with the closing
of the Offering bearing the legend set forth in Exhibit B hereto (the “Cantor and Stifel Private Placement Warrants”, collectively with the Sponsor Private Placement
Warrants, the “Private Placement Warrants”) at a purchase price of $1.50 per Cantor and Stifel Private Placement Warrant; and 

WHEREAS, in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined
below), the Sponsor or an affiliate of the Sponsor or certain of the Company’s executive officers and directors may, but are not obligated to, loan to the Company funds as the Company may require, of which up to $1,500,000 of such loans may be
convertible into up to an additional 1,500,000 warrants at a price of $1.00 per warrant (the “Working Capital Warrants”); and 

WHEREAS, following consummation of the Offering, the Company may issue additional warrants (“Post- IPO Warrants”;
together with the Private Placement Warrants, the Working Capital Warrants and the Public Warrants, the “Warrants”) in connection with, or following the consummation by the Company of, a Business Combination (defined below);
and 
 WHEREAS, the Company has filed with the Securities and Exchange Commission (the “Commission”) a registration
statements on Form S-1, File Nos. 333-231617 and 333-231998 (collectively, the
“Registration Statement”) and prospectus (the “Prospectus”), for the registration, under the Securities Act of 1933, as amended (the
“Securities Act”), of the Units, the Public Warrants and the Common Stock included in the Units; and 

WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with
the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and 
 WHEREAS, the Company desires to provide for
the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and 

  
 1 

 WHEREAS, all acts and things have been done and performed which are necessary to make the
Warrants, when executed on behalf of the Company and countersigned by or on behalf of the Warrant Agent (if a physical certificate is issued), as provided herein, the valid, binding and legal obligations of the Company, and to authorize the
execution and delivery of this Agreement. 
 NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto
agree as follows: 
 1. Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the
Company for the Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement. 

2. Warrants. 
 2.1 Form
of Warrant. Each Warrant shall be issued in registered form only, and, if a physical certificate is issued, shall be in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and shall
be signed by, or bear the facsimile signature of, the Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer, Secretary or other principal officer of the Company. In the event the person whose facsimile signature has been
placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance. 

2.2 Effect of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant
to this Agreement, a Warrant certificate shall be invalid and of no effect and may not be exercised by the holder thereof. 

2.3 Registration. 

2.3.1 Warrant Register. The Warrant Agent shall maintain books (the
“Warrant Register”) for the registration of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register the
Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. All of the Public Warrants shall initially be represented by one or more
book-entry certificates (each, a “Book-Entry Warrant Certificate”) deposited with The Depository Trust Company (the “Depositary”) and registered in the name of Cede & Co., a nominee of the
Depositary. Ownership of beneficial interests in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depositary or its nominee for each Book-Entry Warrant
Certificate, or (ii) institutions that have accounts with the Depositary (each such institution, with respect to a Warrant in its account, a “Participant”). 

If the Depositary subsequently ceases to make its book-entry settlement system available for the Public Warrants, the Company may instruct
the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants are not eligible for, or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent
shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each Book-Entry Warrant Certificate, and the Company shall instruct the Warrant Agent to deliver to the Depositary definitive certificates in
physical form evidencing such Warrants (“Definitive Warrant Certificate”). Such Definitive Warrant Certificate shall be in the form annexed hereto as Exhibit A, with appropriate insertions, modifications and
omissions, as provided above. 
 2.3.2 Registered Holder. Prior to due presentment for registration of transfer of any Warrant,
the Company and the Warrant Agent may deem and treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”) as the absolute owner of such Warrant and of each
Warrant represented thereby (notwithstanding any notation of ownership or other writing on a Definitive Warrant Certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other
purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. 

  
 2 

 2.4 Detachability of Warrants. The Common Stock and Public Warrants comprising
the Units shall begin separate trading on the 52nd day following the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for normal
business (a “Business Day”), then on the immediately succeeding Business Day following such date, or earlier (the “Detachment Date”) with the consent of Cantor,
but in no event shall the Common Stock and the Public Warrants comprising the Units be separately traded until (A) the Company has filed a current report on Form 8-K with the Commission containing an
audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including the proceeds received by the Company from the exercise by the underwriters of their right to purchase additional Units in the Offering (the
“Over-Allotment Option”), if the Over-Allotment Option is exercised prior to the filing of the Form 8-K, and (B) the Company issues a press release and files
with the Commission a current report on Form 8-K announcing when such separate trading shall begin. 

2.5 No Fractional Warrants Other Than as Part of Units. The Company shall not issue fractional Warrants other than as part of
the Units, each of which is comprised of one share of Common Stock and one-third of one Public Warrant. If, upon the detachment of Public Warrants from Units or otherwise, a holder of Warrants would be
entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder. 

2.6 Private Placement Warrants and Working Capital Warrants. The Private Placement Warrants and the Working Capital Warrants shall
be identical to the Public Warrants, except that so long as they are held by the Sponsor, Cantor, Stifel and/or their respective designees or any Permitted Transferees (as defined below), as applicable, the Private Placement Warrants and the Working
Capital Warrants: (i) may be exercised for cash or on a cashless basis, pursuant to subsection 3.3.1(c) hereof, (ii) may not be transferred, assigned or sold until thirty (30) days after the completion by the Company
of an initial Business Combination (as defined below), and (iii) shall not be redeemable by the Company; provided, however, that in the case of (ii) the Private Placement Warrants and the Working Capital Warrants
and any shares of Common Stock held by the Sponsor, Cantor, Stifel and/or their respective designees or any Permitted Transferees, as applicable, and issued upon exercise of the Private Placement Warrants and the Working Capital Warrants may be
transferred by the holders thereof: 
 (a) to the Company’s officers or directors, any affiliates or family members of any of the
Company’s officers or directors, any members of the Sponsor, or any affiliates of the Sponsor, or any such parties in relation to Cantor or Stifel, 

(b) in the case of an individual, by gift to a member of the individual’s immediate family, to a trust, the beneficiary of which is
a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization or any such parties in relation to Cantor or Stifel; 

(c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; 

(d) in the case of an individual, pursuant to a qualified domestic relations order; 

(e) by private sales or transfers made in connection with the consummation of a Business Combination at prices no greater than the price
at which the securities were originally purchased; 
 (f) in the event of the Company’s liquidation prior to the completion of the
Company’s initial Business Combination; or 
 (g) by virtue of the laws of Delaware or the Sponsor’s limited liability
company agreement or the charter documents of Cantor or Stifel upon dissolution of the Sponsor, Cantor or Stifel; 
 provided, however, that
in the case of clauses (a) through (g) these transferees (the “Permitted Transferees”) enter into a written agreement with the Company agreeing to be bound by the transfer
restrictions in this Agreement. 

  
 3 

 2.7 Working Capital Warrants. The Working Capital Warrants shall be identical to
the Private Placement Warrants. 
 2.8 Post-IPO Warrants. The Post-IPO Warrants, when
and if issued, shall have the same terms and be in the same form as the Public Warrants except as may be agreed upon by the Company. 

3. Terms and Exercise of Warrants. 

3.1 Warrant Price. Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant and
of this Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $11.50 per share, subject to the adjustments provided in Section 4 hereof and in the last sentence of
this Section 3.1. The term “Warrant Price” as used in this Agreement shall mean the price per share at which shares of Common Stock may be purchased at the time a Warrant is exercised. The Company in its sole discretion may
lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days, provided, that the Company shall provide at least twenty (20) days prior written notice of such
reduction to Registered Holders of the Warrants and, provided further that any such reduction shall be identical among all of the Warrants. 

3.2 Duration of Warrants. A Warrant may be exercised only during the period (the
“Exercise Period”) commencing on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, involving the Company and one or more businesses (a “Business Combination”), or (ii) the date that is twelve (12) months from the date of
the closing of the Offering, and terminating at 5:00 p.m., New York City time on the earlier to occur of: (x) the date that is five (5) years after the date on which the Company completes its initial Business Combination, (y) the
liquidation of the Company, or (z) other than with respect to the Private Placement Warrants and the Working Capital Warrants to the extent then held by the original purchasers thereof or their Permitted Transferees, the Redemption Date (as
defined below) as provided in Section 6.2 hereof (the Expiration Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of
any applicable conditions, as set forth in subsection 3.3.2 below with respect to an effective registration statement. Except with respect to the right to receive the Redemption Price (as defined below) (other than with respect to a
Private Placement Warrant or a Working Capital Warrant) to the extent then held by the original purchasers thereof or their Permitted Transferees in the event of a redemption (as set forth in Section 6 hereof), each outstanding
Warrant (other than a Private Placement Warrant or a Working Capital Warrant to the extent then held by the original purchasers thereof or their Permitted Transferees in the event of a redemption) not exercised on or before the Expiration Date shall
become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying
the Expiration Date; provided, that the Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants and, provided further that any such extension shall be
identical in duration among all the Warrants. 
 Notwithstanding anything to the contrary contained herein, for so long as any Private
Placement Warrant is held by Cantor, Stifel and/or their respective designees, such Private Placement Warrant may not be exercised after five years from the effective date of the Registration Statement. Further, notwithstanding anything to the
contrary contained herein, with respect to any Private Placement Warrants held by Cantor, Stifel and/or their respective designees, in addition to the foregoing restriction on transfer of the Private Placement Warrants until 30 days after the
completion of an initial Business Combination, the Private Placement Warrants purchased by Cantor Stifel and/or their respective designees shall not be sold during the Offering, or sold, transferred, assigned, pledged or hypothecated for a period of
180 days immediately following the date of effectiveness of the Registration Statement or commencement of sales of the Offering, except to any member participating in the Offering and the officers or partners thereof, if all securities so
transferred remain subject to the lock-up restriction described in this proviso for the remainder of the time period. Additionally, the Private Placement Warrants purchased by Cantor, Stifel and/or their
respective designees shall not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of the securities by any person for a period of 180 days immediately following the
date of effectiveness of the Registration Statement or commencement of sales of the Offering. 

  
 4 

 3.3 Exercise of Warrants. 

3.3.1 Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder
thereof by delivering to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to be exercised, or, in the case of a Book-Entry Warrant Certificate, the Warrants to be exercised (the
“Book-Entry Warrants”) on the records of the Depositary to an account of the Warrant Agent at the Depositary designated for such purposes in writing by the Warrant Agent to the Depositary from time to time, (ii) an
election to purchase (“Election to Purchase”) shares of Common Stock pursuant to the exercise of a Warrant, properly completed and executed by the Registered Holder on the reverse of the Definitive Warrant Certificate or, in
the case of a Book-Entry Warrant Certificate, properly delivered by the Participant in accordance with the Depositary’s procedures, and (iii) payment in full of the Warrant Price for each full share of Common Stock as to which the Warrant
is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the shares of Common Stock and the issuance of such shares of Common Stock, as follows: 

(a) by certified check payable to the order of the Warrant Agent or by wire transfer; 

(b) in the event of a redemption pursuant to Section 6 hereof in which the Company’s board of directors (the
“Board”) has elected to require all holders of the Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of shares of Common Stock equal to the quotient obtained by
dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value”, as defined in this subsection 3.3.1(b) by
(y) the Fair Market Value. Solely for purposes of this subsection 3.3.1(b) and Section 6.3, the “Fair Market Value” shall mean the average last reported sale price of the Common Stock for the ten
(10) trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of the Warrants, pursuant to Section 6 hereof; 

(c) with respect to any Private Placement Warrant or Working Capital Warrant, so long as such Private Placement Warrant or Working Capital
Warrant is held by the Sponsor, Cantor, Stifel and/or their respective designees or a Permitted Transferee, as applicable, by surrendering the Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the
product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value”, as defined in this subsection 3.3.1(c), by (y) the Fair Market Value.
Solely for purposes of this subsection 3.3.1(c), the “Fair Market Value” shall mean the average reported last sale price of the Common Stock for the ten (10) trading days ending on the third trading day prior to the date on
which notice of exercise of the Warrant is sent to the Warrant Agent; or 
 (d) as provided in Section 7.4 hereof. 

3.3.2 Issuance of Shares of Common Stock on Exercise. As soon as practicable after the exercise of any Warrant and the clearance
of the funds in payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered Holder of such Warrant a book-entry position or certificate, as applicable, for the number of full
shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant, as
applicable, for the number of shares of Common Stock as to which such Warrant shall not have been exercised. If fewer than all the Warrants evidenced by a Book-Entry Warrant Certificate are exercised, a notation shall be made to the records
maintained by the Depositary, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing the balance of the Warrants remaining after such exercise. Notwithstanding the foregoing, the Company shall not be
obligated to deliver any shares of Common Stock pursuant to the exercise of a Warrant and shall have no obligation to settle such Warrant exercise unless a registration statement under the Securities Act with respect to the shares of Common Stock
underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations under Section 7.4. No Warrant shall be exercisable and the Company shall not be
obligated to issue shares of Common Stock upon exercise of a Warrant unless the Common Stock issuable upon such Warrant exercise 

  
 5 

 
has been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of the state of residence of the Registered Holder of the Warrants, except
pursuant to Section 7.4. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to exercise such Warrant and
such Warrant may have no value and expire worthless, in which case the purchaser of a Unit containing such Public Warrants shall have paid the full purchase price for the Unit solely for the shares of Common Stock underlying such Unit. In no event
will the Company be required to net cash settle the Warrant exercise. The Company may require holders of Public Warrants to settle the Warrant on a “cashless basis” pursuant to subsection 3.3.1(b) and
Section 7.4. If, by reason of any exercise of Warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share of Common
Stock, the Company shall round down to the nearest whole number, the number of shares of Common Stock to be issued to such holder. 

3.3.3 Valid Issuance. All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement
shall be validly issued, fully paid and non-assessable. 
 3.3.4 Date of Issuance. Each
person in whose name any book-entry position or certificate, as applicable, for shares of Common Stock is issued shall for all purposes be deemed to have become the holder of record of such shares of Common Stock on the date on which the Warrant, or
book-entry position representing such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated Warrant, except that, if the date of such surrender and
payment is a date when the share transfer books of the Company or book-entry system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares of Common Stock at the close of business on the next succeeding
date on which the share transfer books or book-entry system are open. 
 3.3.5 Maximum Percentage. A holder of a Warrant may
notify the Company in writing in the event it elects to be subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or
it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to
such exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 4.8% or 9.8% (or such other amount as a holder may specify) (the
“Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock
beneficially owned by such person and its affiliates shall include the number of shares of Common Stock issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude shares of Common
Stock that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other
securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the
limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”). For purposes of the Warrant, in determining the number of outstanding shares of Common Stock, the holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the
Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public
filing with the Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. For any reason
at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of shares of Common Stock then outstanding. In any case, the number of
outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such number of outstanding shares of Common
Stock was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such
notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company. 

4. Adjustments. 

  
 6 

 4.1 Stock Dividends. 

4.1.1 Split-Ups. If after the date hereof, and subject to the provisions
of Section 4.6 below, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common Stock or other
similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such
increase in the outstanding shares of Common Stock. A rights offering to holders of the Common Stock entitling holders to purchase shares of Common Stock at a price less than the “Fair Market Value” (as defined below) shall be deemed a
stock dividend of a number of shares of Common Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are
convertible into or exercisable for the Common Stock) and (ii) one (1) minus the quotient of (x) the price per share of Common Stock paid in such rights offering divided by (y) the Fair Market Value. For purposes of
this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for Common Stock, in determining the price payable for Common Stock, there shall be taken into account any consideration received
for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Fair Market Value” means the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending
on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. 

4.1.2 Extraordinary Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, shall pay a dividend
or make a distribution in cash, securities or other assets to the holders of the Common Stock on account of such shares of Common Stock (or other shares of the Company’s capital stock into which the Warrants are convertible), other than
(a) as described in subsection 4.1.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Common Stock in connection with a proposed initial Business
Combination, (d) as a result of the repurchase of shares of Common Stock by the Company if a proposed Business Combination is presented to the stockholders of the Company for approval, (e) to satisfy the redemption rights of the holders of
Common Stock in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of the public shares of Common Stock
if the Company does not complete the Business Combination within the period set forth in the Company’s amended and restated certificate of incorporation or (f) in connection with the redemption of public shares of Common Stock upon the
failure of the Company to complete its initial Business Combination and any subsequent distribution of its assets upon its liquidation (any such non-excluded event being referred to herein as an
“Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or the fair market value (as
determined by the Board, in good faith) of any securities or other assets paid on each share of Common Stock in respect of such Extraordinary Dividend. For purposes of this subsection 4.1.2, “Ordinary
Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash distributions paid on the Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding
cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the
Offering). 
 4.2 Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof,
the number of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock or other similar event, then, on the effective date of such consolidation, combination,
reverse stock split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock. 

4.3 Adjustments in Exercise Price. 

  
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 4.3.1 Whenever the number of shares of Common Stock purchasable upon the exercise of the
Warrants is adjusted, as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a
fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common
Stock so purchasable immediately thereafter. 
 4.3.2 If (i) the Company issues additional shares of Common Stock or securities
convertible into or exercisable or exchangeable for shares of Common Stock for capital raising purposes in connection with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share of
Common Stock, with such issue price or effective issue price to be determined in good faith by the Board (and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any founder shares held by such holder or
affiliates, as applicable, prior to such issuance) (the “New Issuance Price”), (ii) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for
the funding of the initial Business Combination on the date of the consummation thereof (net of redemptions) and (iii) the volume weighted average trading price of the Common Stock during the 20 trading day period starting on the trading day
prior to the day on which the Company consummates the initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the higher of
the Market Value and the New Issuance Price and the Redemption Price (as defined below) shall be adjusted to equal to 180% of the higher of the Market Value and the Newly Issued Price. 

4.4 Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding
shares of Common Stock (other than a change under subsections 4.1.1 or 4.1.2 or Section 4.2 hereof or that solely affects the par value of such shares of Common Stock), or in the case of any merger or consolidation of
the Company with or into another entity or conversion of the Company as another entity (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the
outstanding shares of Common Stock), or in the case of any sale or conveyance to another entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the
holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable
and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a
dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately prior to such event (the
“Alternative Issuance” ); provided, however, that in connection with the closing of any such consolidation, merger, sale or conveyance, the successor or purchasing entity shall execute an
amendment hereto with the Warrant Agent providing for delivery of such Alternative Issuance; provided, further, that (i) if the holders of the Common Stock were entitled to exercise a right of election as to the kind or amount of
securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be
the weighted average of the kind and amount received per share by the holders of the Common Stock in such consolidation or merger that affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall have been made to
and accepted by the holders of the Common Stock (other than a tender, exchange or redemption offer made by the Company in connection with redemption rights held by stockholders of the Company as provided for in the Company’s amended and
restated certificate of incorporation or as a result of the repurchase of shares of Common Stock by the Company if a proposed initial Business Combination is presented to the stockholders of the Company for approval) under circumstances in which,
upon completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act (or any successor rule)) of which such
maker is a part, and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act (or any successor rule)) and any members of any such group of which any such
affiliate or associate is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act (or any successor rule)) more than 50% of the outstanding shares of Common Stock, the holder of a
Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such holder would actually have been entitled as a stockholder if such Warrant holder had exercised the Warrant prior
to the expiration of such tender or exchange offer, accepted such offer and all of the Common Stock held by such holder had been purchased pursuant 

  
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to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in
this Section 4; provided, further, that if less than 70% of the consideration receivable by the holders of the Common Stock in the applicable event is payable in the form of common stock in the successor entity that is
listed for trading on a national securities exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately
following such event, and if the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price shall be reduced by an amount (in dollars) (but in no event less than zero) equal to the difference of (i) the Warrant Price in effect prior to such reduction
minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black-Scholes Warrant Value” means the value of
a Warrant immediately prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets (“Bloomberg”). For purposes of calculating such
amount, (1) Section 6 of this Agreement shall be taken into account, (2) the price of each share of Common Stock shall be the volume weighted average price of the Common Stock as reported during the ten (10) trading day
period ending on the trading day prior to the effective date of the applicable event, (3) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg determined as of the trading day immediately prior to
the day of the announcement of the applicable event, and (4) the assumed risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per
Share Consideration” means (i) if the consideration paid to holders of the Common Stock consists exclusively of cash, the amount of such cash per share of Common Stock, and (ii) in all other cases,
the amount of cash per share of Common Stock, if any, plus the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event.
If any reclassification or reorganization also results in a change in shares of Common Stock covered by subsection 4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2,
4.3 and this Section 4.4. The provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Warrant
Price be reduced to less than the par value per share issuable upon exercise of the Warrant. 
 4.5 Notices of Changes in
Warrant. Upon every adjustment of the Warrant Price or the number of shares of Common Stock issuable upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price
resulting from such adjustment and the increase or decrease, if any, in the number of shares of Common Stock purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon
which such calculation is based. Upon the occurrence of any event specified in Sections 4.1, 4.2, 4.3 or 4.4, the Company shall give written notice of the occurrence of such event to each holder
of a Warrant, at the last address set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event.

 4.6 No Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not
issue fractional shares of Common Stock upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a
fractional interest in a share, the Company shall, upon such exercise, round down to the nearest whole number the number of shares of Common Stock to be issued to such holder. 

4.7 Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and
Warrants issued after such adjustment may state the same Warrant Price and the same number of shares of Common Stock as is stated in the Warrants initially issued pursuant to this Agreement; provided, however, that the Company may
at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution
for an outstanding Warrant or otherwise, may be in the form as so changed. 
 4.8 Other Events. In case any event shall occur
affecting the Company as to which none of the provisions of preceding subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact
on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint a firm of independent public 

  
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accountants, investment banking or other appraisal firm of recognized national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants
is necessary to effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment, provided, however, that under no circumstances shall the Warrants be adjusted
pursuant to this Section 4.8 as a result of any issuance of securities in connection with the Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such
opinion. 
 4.9 No Adjustment. For the avoidance of doubt, no adjustment shall be made to the terms of the Warrants solely as a
result of an adjustment to the conversion ratio of the Company’s Class B common stock (the “Class B Common Stock”) into shares of Common Stock or the conversion of the shares of
Class B Common Stock into shares of Common Stock, in each case, pursuant to the Company’s Charter, as amended from time to time. 

5. Transfer and Exchange of Warrants. 

5.1 Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon
the Warrant Register, upon surrender of such Warrant for transfer, in the case of certificated Warrants, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new
Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the
Company from time to time upon request. 
 5.2 Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant
Agent, together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered Holder of the Warrants so surrendered, representing an equal
aggregate number of Warrants; provided, however, that except as otherwise provided herein or in any Book-Entry Warrant Certificate or Definitive Warrant Certificate, each Book-Entry Warrant Certificate and Definitive Warrant
Certificate may be transferred only in whole and only to the Depositary, to another nominee of the Depositary, to a successor depository, or to a nominee of a successor depository; provided further, however, that
in the event that a Warrant surrendered for transfer bears a restrictive legend (as in the case of the Private Placement Warrants and the Working Capital Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange
thereof until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend. 

5.3 Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall
result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant. 
 5.4 Service Charges. No
service charge shall be made for any exchange or registration of transfer of Warrants. 
 5.5 Warrant Execution and Countersignature.
The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by
the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose. 

5.6 Transfer of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the
Unit in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer
the Warrants included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer of Warrants on and after the Detachment Date. 

  
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 6. Redemption. 

6.1 Redemption. Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at
the option of the Company, at any time while they are exercisable and prior to their expiration, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described in Section 6.2 below, at the price
of $0.01 per Warrant (the “Redemption Price”), provided that the last sales price of the Common Stock reported has been at least $18.00 per share (subject to
adjustment in compliance with Section 4 hereof), on each of twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on
which notice of the redemption is given and provided that there is an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section 6.2 below) or the Company has elected to require the exercise of the Warrants on a “cashless basis” pursuant to subsection
3.3.1; provided, however, that if and when the Public Warrants become redeemable by the Company, the Company may not exercise such redemption right if the issuance of shares of Common Stock upon exercise of the Public Warrants is not exempt from
registration or qualification under applicable state blue sky laws or the Company is unable to effect such registration or qualification. 

6.2 Date Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants, the Company
shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the
Redemption Date (the “30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall
appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. 

6.3 Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance
with subsection 3.3.1(b) of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption Date. In the event that the Company determines
to require all holders of Warrants to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1, the notice of redemption shall contain the information necessary to calculate the number of shares of Common
Stock to be received upon exercise of the Warrants, including the “Fair Market Value” (as such term is defined in subsection 3.3.1(b) hereof) in such case. On and after the Redemption Date, the record holder of the
Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price. 
 6.4 Exclusion of
Private Placement Warrants, Working Capital Warrants and Post-IPO Warrants. The Company agrees that the redemption rights provided in this Section 6 shall not apply to the Private
Placement Warrants or the Working Capital Warrants if at the time of the redemption such Private Placement Warrants, or Working Capital Warrants continue to be held by the Sponsor, Cantor, Stifel and/or their respective designees or any Permitted
Transferees, as applicable. However, once such Private Placement Warrants or Working Capital Warrants are transferred (other than to Permitted Transferees under Section 2.6), the Company may redeem the Private Placement Warrants or the
Working Capital Warrants provided that the criteria for redemption are met, including the opportunity of the holder of such Private Placement Warrants or Working Capital Warrants to exercise the Private Placement Warrant or Working Capital Warrants
prior to redemption pursuant to Section 6.3. Private Placement Warrants or Working Capital Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement Warrants or
Working Capital Warrants and shall become Public Warrants under this Agreement. The Company further agrees that the redemption rights provided in this Section 6 shall not apply to the Post-IPO
Warrants, if such Post-IPO Warrants by their terms provide that they are non-redeemable by the Company. 

7. Other Provisions Relating to Rights of Holders of Warrants. 

7.1 No Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a stockholder of
the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or the election
of directors of the Company or any other matter. 
 7.2 Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost,
stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new
Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or
destroyed Warrant shall be at any time enforceable by anyone. 

  
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 7.3 Reservation of Common Stock. The Company shall at all times reserve and keep
available a number of its authorized but unissued shares of Common Stock that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement. 

7.4 Registration of Common Stock; Cashless Exercise at Company’s Option. 

7.4.1 Registration of the Common Stock. The Company agrees that as soon as practicable, but in no event later than fifteen
(15) Business Days after the closing of its initial Business Combination, it shall use its reasonable best efforts to file with the Commission a registration statement for the registration, under the Securities Act, of the shares of Common
Stock issuable upon exercise of the Warrants. The Company shall use its reasonable best efforts to cause the same to become effective within 60 Business Days following its initial Business Combination and to maintain the effectiveness of such
registration statement, and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the 60th Business Day
following the closing of the Business Combination, holders of the Warrants shall have the right, during the period beginning on the 61st Business Day after the closing of the Business Combination and ending upon such registration statement being
declared effective by the Commission, and during any other period when the Company shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, to exercise such
Warrants on a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities Act (or any successor rule) or another exemption) for that number of shares of Common Stock equal to the quotient
obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value” (as defined below) by (y) the Fair Market
Value. Solely for purposes of this subsection 7.4.1, “Fair Market Value” shall mean the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior
to the date that notice of exercise is received by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of cashless exercise is received by the Warrant Agent shall be conclusively
determined by the Warrant Agent. In connection with the “cashless exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with
securities law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this subsection 7.4.1 is not required to be registered under the Securities Act and (ii) the shares of Common Stock
issued upon such exercise shall be freely tradable under United States federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Securities Act (or any successor statute)) of the Company and,
accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance of any doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue
to be obligated to comply with its registration obligations under the first three sentences of this subsection 7.4.1. 

7.4.2 Cashless Exercise at Company’s Option. If the Common Stock is at the time of any exercise of a Warrant not listed on a
national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act (or any successor statute), the Company may, at its option, (i) require holders of Public
Warrants who exercise Public Warrants to exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act (or any successor statute) as described in subsection 7.4.1 and
(ii) in the event the Company so elects, the Company shall not be required to file or maintain in effect a registration statement for the registration, under the Securities Act, of the Common Stock issuable upon exercise of the Warrants,
notwithstanding anything in this Agreement to the contrary. If the Company does not elect at the time of exercise to require a holder of Public Warrants who exercises Public Warrants to exercise such Public Warrants on a “cashless basis,”
it agrees to use its best efforts to register or qualify for sale the Common Stock issuable upon exercise of the Public Warrant under the blue sky laws of the state of residence in those states in which the Public Warrants were initially offered by
the Company of the exercising Public Warrant holder to the extent an exemption is not available. 
 8. Concerning the Warrant Agent
and Other Matters. 

  
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 8.1 Payment of Taxes. The Company shall from time to time promptly pay all taxes
and charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of
the Warrants or such shares of Common Stock. 
 8.2 Resignation, Consolidation, or Merger of Warrant Agent. 

8.2.1 Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its
duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise,
the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days after it has been notified in writing of such resignation or
incapacity by the Warrant Agent or by the holder of a Warrant (who shall, with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of
New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New
York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state
authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent
hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent
all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations. 

8.2.2 Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice
thereof to the predecessor Warrant Agent and the Transfer Agent for the Common Stock not later than the effective date of any such appointment. 

8.2.3 Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may
be consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act. 

8.3 Fees and Expenses of Warrant Agent. 

8.3.1 Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent
hereunder and shall, pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder. 

8.3.2 Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement. 

8.4 Liability of Warrant Agent. 

8.4.1 Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem
it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be
deemed to be conclusively proved and established by a statement signed by the Chief Executive Officer, Chief Financial Officer, President, Executive Vice President, Vice President, Secretary or Chairman of the Board of the Company and delivered to
the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement. 

  
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 8.4.2 Indemnity. The Warrant Agent shall be liable hereunder only for its own
gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted by the
Warrant Agent in the execution of this Agreement, except as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith. 

8.4.3 Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect
to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent
shall not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would require
any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant or as to whether any
shares of Common Stock shall, when issued, be valid and fully paid and non-assessable. 

8.5 Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same
upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the
purchase of shares of Common Stock through the exercise of the Warrants. 
 8.6 Waiver. The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement,
dated as of the date hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.
The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust Account. 

9. Miscellaneous Provisions. 

9.1 Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall
bind and inure to the benefit of their respective successors and assigns. 
 9.2 Notices. Any notice, statement or demand
authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier
service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows: 

Haymaker Acquisition Corp. II 
 650 Fifth Avenue 

Floor 10 
 New York, NY 10019 

Attention: Steven J. Heyer 
 Any notice, statement or demand
authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier
service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows: 

  
 14 

 Continental Stock Transfer & Trust Company 

1 State Street, 30th Floor 
 New York, NY 10004 

Attention: Compliance Department 

9.3 Applicable Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all
respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim
against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such
jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. 

9.4 Persons Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any
person or corporation other than the parties hereto and the Registered Holders of the Warrants and, for purposes of Sections 7.4, 9.4 and 9.8, Cantor, any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition,
stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto and, for purposes of Sections 7.4, 9.4 and
9.8, Cantor, and their successors and assigns and of the Registered Holders of the Warrants. 
 9.5 Examination of the Warrant
Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant. The Warrant Agent
may require any such holder to submit such holder’s Warrant for inspection by the Warrant Agent. 
 9.6 Counterparts. This
Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

9.7 Effect of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect
the interpretation thereof. 
 9.8 Amendments. This Agreement may be amended by the parties hereto without the consent of any
Registered Holder (i) for the purpose of curing any ambiguity, or curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect to matters or questions arising under this
Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest of the Registered Holders, and (ii) to provide for the delivery of Alternative Issuance pursuant to Section 4.4. All
other modifications or amendments, including any amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the terms of only the Private Placement Warrants or the Working Capital Warrants, shall require the vote or
written consent of the Registered Holders of 65% of the then-outstanding Public Warrants and, solely with respect to any amendment to the terms of the Private Placement Warrants or any provision of this Agreement with respect to the Private
Placement Warrants, 50% of the number of the then outstanding Private Placement Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections
3.1 and 3.2, respectively, without the consent of the Registered Holders. 
 9.9 Severability. This
Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such
invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

  
 15 

 [Signature Page Follows] 

  
 16 

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

			
	HAYMAKER ACQUISITION CORP. II
		
	By:	 	/s/ Christopher Bradley
	Name:	 	Christopher Bradley
	Title:	 	Chief Financial Officer
	
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
		
	By:	 	/s/ Erika Young
	Name:	 	Erika Young
	Title:	 	Vice President

 [Signature Page to Warrant Agreement] 

  
 17 

 EXHIBIT A 

[Form of Warrant Certificate] 

[FACE] 
 Number 

Warrants 
 THIS WARRANT
SHALL BE VOID IF NOT EXERCISED PRIOR TO 
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

HAYMAKER ACQUISITION CORP. II 

Incorporated Under the Laws of the State of Delaware 

CUSIP 42087L 119 
 Warrant
Certificate 

This Warrant Certificate certifies that
                    , or registered assigns, is the registered holder of warrant(s) evidenced hereby (the “Warrants” and
each, a “Warrant”) to purchase shares of Class A common stock, $0.0001 par value per share (“Common Stock”), of Haymaker Acquisition Corp. II, a Delaware corporation (the
“Company”). Each Warrant entitles the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and
non-assessable shares of Common Stock as set forth below, at the exercise price (the “Exercise Price”) as determined pursuant to the Warrant Agreement, payable in
lawful money (or through “cashless exercise” as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the
office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the
Warrant Agreement. 
 Each whole Warrant is initially exercisable for one fully paid and
non-assessable share of Common Stock. No fractional shares will be issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in a share
of Common Stock, the Company will, upon exercise, round down to the nearest whole number, the number of shares of Common Stock to be issued to the Warrant holder. The number of shares of Common Stock issuable upon exercise of the Warrants is subject
to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. 
 The initial Exercise Price per share of Common
Stock for any Warrant is equal to $11.50 per whole share. The Exercise Price is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. 

Subject to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent
not exercised by the end of such Exercise Period, such Warrants shall become void. 
 Reference is hereby made to the further provisions of
this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

This Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. 

This Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to
conflicts of laws principles thereof. 

  
 18 

 
			
	HAYMAKER ACQUISITION CORP. II
		
	By:	 	            
	Name:	 	
	Title:	 	
	
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
		
	By:	 	            
	Name:	 	
	Title:	 	

  
 19 

 [Form of Warrant Certificate] 

[Reverse] 
 The Warrants
evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive shares of Common Stock and are issued or to be issued pursuant to a Warrant Agreement dated as of June 6, 2019
(the “Warrant Agreement”), duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the
“Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights,
obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder” meaning the Registered Holders or Registered Holder, respectively) of
the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant
Agreement. 
 Warrants may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants
evidenced by this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed and executed, together with payment of the Exercise Price as specified in the
Warrant Agreement (or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the number of
Warrants exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised. 

Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the shares of Common Stock to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the shares of Common Stock is current, except through
“cashless exercise” as provided for in the Warrant Agreement. 
 The Warrant Agreement provides that upon the occurrence of
certain events the number of shares of Common Stock issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive
a fractional interest in a share of Common Stock, the Company shall, upon exercise, round down to the nearest whole number of shares of Common Stock to be issued to the holder of the Warrant. 

Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person
or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or
Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 
 Upon due presentation for registration of
transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for
this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 

The Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate
(notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall
be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a stockholder of the Company. 

  
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 Election to Purchase 

(To Be Executed Upon Exercise of Warrant) 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive
                     shares of Common Stock and herewith tenders payment for such shares of Common Stock to the order of Haymaker Acquisition Corp.
II (the “Company”) in the amount of $             in accordance with the terms hereof. The undersigned requests that a certificate for such shares of Common
Stock be registered in the name of                     , whose address is
                     and that such shares of Common Stock be delivered to
                     whose address is
                    . If said number of shares of Common Stock is less than all of the shares of Common Stock purchasable hereunder, the undersigned
requests that a new Warrant Certificate representing the remaining balance of such shares of Common Stock be registered in the name of
                    , whose address is
                     and that such Warrant Certificate be delivered to
                    , whose address is
                    . 
 In the event
that the Warrant has been called for redemption by the Company pursuant to Section 6 of the Warrant Agreement and the Company has required cashless exercise pursuant to Section 6.3 of the Warrant Agreement, the
number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(b) and Section 6.3 of the Warrant Agreement. 

In the event that the Warrant is a Private Placement Warrant or a Working Capital Warrant that is to be exercised on a “cashless”
basis pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(c) of the Warrant Agreement. 

In the event that the Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement,
the number of shares of Common Stock that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant Agreement. 

In the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number
of shares of Common Stock that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following:
The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive shares of Common Stock. If said number of shares of Common Stock
is less than all of the shares of Common Stock purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares of Common Stock be
registered in the name of                     , whose address is
                     and that such Warrant Certificate be delivered to
                    , whose address
is                     . 

[Signature Page Follows] 

21 
 Date:
                    , 20 
  

	
	  
 (Signature)

	
	  
  

 
 (Address)

	
	  
 (Tax Identification
Number)

 Signature Guaranteed: 

  
 21 

  

THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH
MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY SUCCESSOR RULE)). 

  
 22 

 EXHIBIT B 

LEGEND 
 “THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG HAYMAKER ACQUISITION CORP. II (THE
“COMPANY”), HAYMAKER SPONSOR II LLC, CANTOR FITZGERALD & CO., AND STIFEL, NICOLAUS & COMPANY, INCORPORATED AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR
TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION
2 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS. 
 SECURITIES EVIDENCED BY THIS CERTIFICATE
AND SHARES OF CLASS A COMMON STOCK OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.” 

  
 23

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