Document:

Exhibit 10.5

 

EXECUTION VERSION

 

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

 

This THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of October 3, 2013 (the “Amendment Effective Date”) is entered into by Laureate Education, Inc., a Maryland corporation (the “Parent Borrower”), Iniciativas Culturales de España S.L., a Spanish limited liability company (the “Foreign Subsidiary Borrower”, together with the Parent Borrower, the “Borrowers”), Citibank, N.A., as successor Administrative Agent and Collateral Agent (in such capacities, the “Administrative Agent” and “Collateral Agent,” respectively), Citigroup Global Markets Inc. (the “Lead Arranger”), KKR Capital Markets LLC (“KCM”) and J.P. Morgan Securities LLC (together with the Lead Arranger and KCM, the “Agents”) and certain financial institutions listed on the signature pages hereto.

 

RECITALS

 

1.                                      Reference is hereby made to the Amended and Restated Credit Agreement, dated as of June 16, 2011, by and among the Parent Borrower, the Foreign Subsidiary Borrower, the lending institutions party thereto from time to time and Citibank, N.A., as successor Administrative Agent and Collateral Agent (as it has been or may be amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”; capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement).

 

2.                                      Pursuant to the Credit Agreement, the Lenders have agreed to make, and have made, certain loans and other extensions of credit to the Borrowers.

 

3.                                      The Parent Borrower has requested, in accordance with Section 14.1 of the Credit Agreement, that (a) the outstanding Series 2018 Extended Term Loans (including the outstanding Series B New Term Loans and the outstanding Series B Additional Term Loans, as defined below) and the outstanding Series A-2018 New Term Loans (as defined in the Credit Agreement as of the Amendment Effective Date) be refinanced with a new term facility (the “Amended Series 2018 Extended Term Loan Facility”) by obtaining New Series 2018 Extended Term Loan Commitments (as defined in Section 2 of this Amendment) and having the existing Series 2018 Extended Term Loans (including the existing Series B New Term Loans and the Series B Additional New Term Loans) and the existing Series A-2018 New Term Loans be continued as provided herein and (b) the outstanding Series A New Term Loans be refinanced with a new term facility (the “Amended Series A New Term Loan Facility,” together with the Amended Series 2018 Extended Term Loan Facility, the “Amended Term Loan Facilities”) by obtaining New Series A New Term Loan Commitments (as defined in Section 2 of this Amendment) and having the existing Series A New Term Loans be continued as provided herein.

 

4.                                      The loans under the Amended Series 2018 Extended Term Loan Facility (the “New Series 2018 Extended Term Loans”) will replace and refinance the currently outstanding Series 2018 Extended Term Loans (including the Series B New Term Loans and the Series B Additional Term Loans) and the Series A-2018 New Term Loans.

 

 

5.                                      The loans under the Amended Series A New Term Loan Facility (the “New Series A New Term Loans”) will replace and refinance the currently outstanding Series A New Term Loans. The New Series 2018 Extended Term Loans and the New Series A New Term Loans are each a “New Replacement Term Loan” and, collectively, the “New Replacement Term Loans”.

 

6.                                      Except as otherwise provided herein and with respect to use of proceeds, (a) the New Series 2018 Extended Term Loans will have the same terms as the Series 2018 Extended Term Loans (including the Series B New Term Loans and the Series B Additional Term Loans) and the Series A-2018 New Term Loans currently outstanding under the Credit Agreement and (b) the New Series A New Term Loans will have the same terms as the Series A New Term Loans currently outstanding under the Credit Agreement.

 

7.                                      Each existing Series 2018 Extended Term Lender (including any Lender that holds Series B New Term Loans or Series B Additional Term Loans), and each Lender holding existing Series A-2018 New Term Loans, that executes and delivers a signature page to this Amendment (a “Lender Addendum”) and in connection therewith agrees to continue all of its outstanding Series 2018 Extended Term Loans (including the Series B New Term Loans and the Series B Additional Term Loans), and its outstanding Series A-2018 New Term Loans, as New Series 2018 Extended Term Loans (such continued Series 2018 Extended Term Loans and Series A-2018 New Term Loans, the “Continued Series 2018 Extended Term Loans”, and such Lenders, collectively, the “Continuing Series 2018 Extended Term Lenders”) will thereby (i) agree to the terms of this Amendment and (ii) agree to continue all of its existing Series 2018 Extended Term Loans (including its existing Series B New Term Loans and its existing Series B Additional Term Loans) and its existing Series A-2018 New Term Loans (such existing Series 2018 Extended Term Loans and existing Series A-2018 New Term Loans, the “Existing Series 2018 Extended Term Loans”, and the Lenders of such Existing Series 2018 Extended Term Loans, collectively, the “Existing Series 2018 Extended Term Lenders”) outstanding on the Amendment Effective Date (as defined below) as New Series 2018 Extended Term Loans in a principal amount equal to the aggregate principal amount of such Existing Series 2018 Extended Term Loans so continued (or such lesser amount as notified to such Lender by the Lead Arranger (as defined below) prior to the Amendment Effective Date).

 

8.                                      Each existing Series A New Term Lender that executes and delivers a Lender Addendum and in connection therewith agrees to continue all of its outstanding Series A New Term Loans as New Series A New Term Loans (such continued Series A New Term Loans, the “Continued Series A New Term Loans”, and such Lenders, collectively, the “Continuing Series A New Term Lenders”) will thereby (i) agree to the terms of this Amendment and (ii) agree to continue all of its existing Series A New Term Loans (such existing Series A New Term Loans, the “Existing Series A New Term Loans,” together with the Existing Series 2018 Extended Term Loans, the “Existing Term Loans”, and the Lenders of such Existing Series A New Term Loans, collectively, the “Existing Series A New Term Lenders,” together with the Existing Series 2018 Extended Term Loan Lenders, each an “Existing Term Lender” and, collectively, the “Existing Term Lenders”) outstanding on the Amendment Effective Date as New Series A New Term Loans in a principal amount equal to the aggregate principal amount of such Existing Series A New Term Loans so continued (or such lesser amount as notified to such Lender by the Lead Arranger prior to the Amendment Effective Date) (the Continuing Series 2018 Extended Term Loans and the Continuing Series A New Term Loans being referred to each as a “Continuing

 

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Term Loan” and, collectively, as the “Continuing Term Loans”).

 

9.                                      Subject to the preceding recitals, (a) each Person (other than a Continuing Series 2018 Extended Term Loan Lender in its capacity as such) that executes and delivers a respective Lender Addendum and agrees in connection therewith to make New Series 2018 Extended New Term Loans (collectively, the “Additional New Series 2018 Extended Term Loan Lenders”) will thereby (i) agree to the terms of this Amendment and (ii) commit to make the Additional New Series 2018 Extended Term Loans to the Parent Borrower on the Amendment Effective Date (the “Additional New Series 2018 Extended Term Loans”) in such amount (not in excess of any such commitment) as is determined by the Lead Arranger and notified to such Additional New Series 2018 Extended Term Loan Lender, and (b) each Person (other than a Continuing Series A New Term Loan Lender in its capacity as such) that executes and delivers a respective Lender Addendum and agrees in connection therewith to make New Series A New Term Loans (collectively, the “Additional New Series A New Term Loan Lenders,” together with the Additional New Series 2018 Extended Term Loan Lenders, each an “Additional Term Loan Lender” and, collectively, the “Additional Term Loan Lenders”) will thereby (i) agree to the terms of this Amendment and (ii) commit to make the Additional New Series A New Term Loans to the Parent Borrower on the Amendment Effective Date (the “Additional New Series A New Term Loans” ) in such amount (not in excess of any such commitment) as is determined by the Lead Arranger and notified to such Additional New Series A New Term Loan Lender.

 

10.                               The proceeds of (a) the Additional New Series 2018 Extended Term Loans will be used by the Parent Borrower to repay in full the outstanding principal amount of the Existing Series 2018 Extended Term Loans that are not continued as New Series 2018 Extended Term Loans and (b) the Additional New Series A New Term Loans will be used by the Parent Borrower to repay in full the outstanding principal amount of the Existing Series A New Term Loans that are not continued as New Series A New Term Loans.

 

11.                               The Continuing Series 2018 Extended Term Loan Lenders and the Additional New Series 2018 Extended Term Loan Lenders (collectively, the “New Series 2018 Extended Term Loan Lenders”) are severally willing to continue their Existing Series 2018 Extended Term Loans as New Series 2018 Extended Term Loans and/or to make New Series 2018 Extended Term Loans, as the case may be, subject to the terms and conditions of this Amendment.

 

12.                               The Continuing Series A New Term Loan Lenders and the Additional New Series A New Term Loan Lenders (collectively, the “New Series A New Term Loan Lenders,” together with the New Series 2018 Extended Term Loan Lenders, each a “New Term Loan Lender” and, collectively, the “New Term Loan Lenders”) are severally willing to continue their Existing Series A New Term Loans as New Series A New Term Loans and/or to make New Series A New Term Loans, as the case may be, subject to the terms and conditions of this Amendment.

 

13.                               Section 14.1 of the Credit Agreement permits the Parent Borrower to amend the Credit Agreement, with the written consent of the Administrative Agent and the New Term Loan Lenders, and to refinance each of the Existing Term Loans with the Amended Term Loan Facilities, which are Replacement Term Loans (as defined in Section 14.1 of the Credit Agreement).

 

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14.                               The Borrowers, the New Term Loan Lenders, the Administrative Agent and the other parties hereto desire to amend the Credit Agreement as set forth herein.

 

Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION 1. Amendments to the Credit Agreement. On the Amendment Effective Date (as defined below), the following amendments are made to the Credit Agreement:

 

(a)                                 Section 1.1 of the Credit Agreement is hereby amended by adding the following terms in proper alphabetical order:

 

“Adjusted Consolidated Financial Statements” shall have the meaning provided in Section 1.8.

 

“Adjusted Non-Consolidated NFP Financial Statements” shall have the meaning provided in Section 1.8.

 

“Consolidated Financial Statements” shall have the meaning provided in Section 1.8.

 

“Lender Financials” shall have the meaning provided in Section 1.8.

 

“Maximum Permitted SLB/Lien Amount” shall mean an amount equal to (a)  $400,000,000, less (b) an amount equal to the Net Cash Proceeds of Permitted Sale Leasebacks received from and after the Restatement Effective Date in respect of assets owned by the Parent Borrower or a Restricted Subsidiary pursuant to Section 10.4(n), less (c) the amount of outstanding Indebtedness secured by Liens permitted pursuant to Section 10.2(s) from time to time.

 

“New Series 2018 Extended Term Loan Commitments” shall have the meaning provided in the Third Amendment.

 

“New Series 2018 Extended Term Loans” shall have the meaning provided in the Third Amendment.

 

“New Series A New Term Loan Commitments” shall have the meaning provided in the Third Amendment.

 

“New Series A New Term Loans” shall have the meaning provided in the Third Amendment.

 

“Non-Consolidated Not-For-Profit University” shall have the meaning provided in Section 1.8.

 

“Non-Consolidated NFP Financial Statements” shall have the meaning provided in Section 1.8.

 

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“Not-For-Profit University” shall mean any affiliated not-for-profit, non-stock university that is a Subsidiary.

 

“Permitted SLB/Lien Prepayment Event” shall mean the issuance or incurrence by the Parent Borrower or any of the Restricted Subsidiaries of any Indebtedness secured by a Lien permitted under Section 10.2(s).

 

“Prior Financial Statements” shall have the meaning provided in Section 1.8.

 

“Second Amendment” shall mean that certain Second Amendment to Amended and Restated Credit Agreement, dated as of April 23, 2013, among Laureate Education, Inc., Iniciativas Culturales de España S.L., Citibank, N.A., as Administrative Agent and Collateral Agent, and the certain financial institutions listed on the signature pages thereto.

 

“Series-A New Revolving Commitments” shall mean the Series 2016 U.S. Revolving Credit Commitments up to the maximum principal amount of $50,000,000 made available pursuant to that certain Joinder Agreement, dated as of December 22, 2011, by and among Morgan Stanley Senior Funding, Inc., Laureate Education, Inc. and Citibank, N.A., as Administrative Agent and Collateral Agent.

 

“Series A-2018 New Term Loan Lender” shall mean any Lender that has a Series A-2018 New Term Loan.

 

“Series A-2018 New Term Loans” shall mean the Series A-2018 New Term Loans in the original aggregate principal amount of $25,000,000 made pursuant to that certain Joinder Agreement, dated as of December 22, 2011, by and among Bank of Montreal, Chicago Branch, Laureate Education, Inc. and Citibank, N.A., as Administrative Agent and Collateral Agent.

 

“Subsequent Period” shall mean the period beginning with and including the first period for which financial statements are delivered pursuant to Section 1.8(c) reflecting a change in the accounting for Not-for-Profit Universities.

 

“Third Amendment” shall mean that certain Third Amendment to Amended and Restated Credit Agreement, dated as of October 3, 2013, among the Parent Borrower, the Foreign Borrower, the Administrative Agent, the Collateral Agent, the agents thereto and the financial institutions listed on the signature pages thereto.

 

“Third Amendment Effective Date” shall mean October 3, 2013.

 

“New Replacement Term Loans” shall mean the New Series 2018 Extended Term Loans and the New Series A New Term Loans.

 

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(b)                                 The defined term “Applicable ABR Margin” in Section 1.1 of the Credit Agreement is hereby amended by deleting clauses (ii) and (iii) thereof and replacing them with the following: “(ii) New Series A New Term Loan, 3.75%, (iii) New Series 2018 Extended Term Loan, 2.75% or”.

 

(c)                                  The defined term “Class” in Section 1.1 of the Credit Agreement is hereby amended by adding the following sentence after the last sentence of the definition:

 

“For avoidance of doubt, the New Series 2018 Extended Term Loans and the New Series A New Term Loans are each a separate Class.”

 

(d)                                 The defined term “Applicable LIBOR Margin” in Section 1.1 of the Credit Agreement is hereby amended by deleting clauses (ii) and (iii) thereof and replacing them with the following: “(ii) New Series A New Term Loan, 4.75%, (iii) New Series 2018 Extended Term Loan, 3.75% or”.

 

(e)                                  The defined term “Net Cash Proceeds” is hereby amended by deleting the words “or Permitted Sale Leaseback” wherever they appear in such definition and replacing them with “, Permitted SLB/Lien Prepayment Event or Permitted Sale Leaseback”.

 

(f)                                   The defined term “Maximum Incremental Facilities Amount” in Section 1.1 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

 

“Maximum Incremental Facilities Amount” shall mean, after the Third Amendment Effective Date, without duplication, (a) $200,000,000 minus any amount incurred pursuant to Section 10.1(n)(i)(a) from and after the Third Amendment Effective Date, plus (b) additional amounts incurred after the Third Amendment Effective Date, to the extent, both immediately before and after giving effect to such additional amounts (but only to the extent such amounts are drawn in the form of loans on the date of determination and excluding from the calculation of Consolidated Total Debt any netting of Unrestricted Cash that would result from the incurrence of any such portion of the Maximum Incremental Facilities Amount being incurred at such time) that the Consolidated Senior Secured Debt to Consolidated EBITDA Ratio is not greater than 3.00 to 1.00. It is understood that the Series A New Revolving Commitments, the Series A-2018 New Term Loans and the Series B New Term Loans shall not reduce the Maximum Incremental Facilities Amount. For avoidance of doubt, the Series B Additional Term Loans were not New Term Loans under Section  2.14 hereof and the New Replacement Term Loans are not New Term Loans under Section 2.14 (Incremental Facilities) hereof.

 

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(g)                                  The defined term “Prepayment Event” is hereby amended by inserting immediately after the words “Casualty Event” the following: “, Permitted SLB/Lien Prepayment Event”.

 

(h)                                 Clause (ii) of the defined term “Reinvestment Period” is hereby amended by inserting the following after the words “Permitted Sale Leaseback” wherever such words are used in such definition: “ or a Permitted SLB/Lien Prepayment Event”.

 

(i)                                    The defined term “Required Series 2018 Extended Term Loan Lenders” in Section 1.1 of the Credit Agreement is hereby amended by replacing the references to “Series 2018 Extended Term Loans” with “New Series 2018 Extended Term Loans”.

 

(j)                                   The defined term “Term Loan Commitment” in Section 1.1 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

 

“Term Loan Commitment” shall mean, with respect to each Lender, such Lender’s (a) Closing Date Term Loan Commitment, (b) Delayed Draw Term Loan Commitment, (d) agreement, if any, to continue its Existing Series 2018 Extended Term Loan Commitment (as defined in the Third Amendment) as a New Series 2018 Extended Term Loan or the commitment, if any, of such Lender to make a New Series 2018 Extended Term Loan in the amount provided in the Third Amendment, (e) agreement, if any, to continue its Existing Series A New Term Loan Commitment (as defined in the Third Amendment) as a New Series A New Term Loan or the commitment, if any, of such Lender to make a New Series A New Term Loan in the amount provided in the Third Amendment, and (f) if applicable, New Term Loan Commitment made after the Third Amendment Effective Date with respect to any series.

 

(k)                                 The defined term “Term Loans” in Section 1.1 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

 

“Term Loans” shall mean the Closing Date Term Loans, the Delayed Draw Term Loans, the Series 2018 Extended Term Loans, the Series A New Term Loans, the Series A-2018 New Term Loans, the Series B New Term Loans, the Series B Additional Term Loans, any New Replacement Term Loans, and any New Term Loans (of each Series) incurred after the Third Amendment Effective Date, collectively.

 

(l)                                     The defined term “Total Term Loan Commitments” in Section 1.1 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

 

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“Total Term Loan Commitment” shall mean the sum of the Closing Date Term Loan Commitments, the Delayed Draw Term Loan Commitments, the New Series 2018 Extended Term Loan Commitments, the New Series A New Term Loan Commitments and the New Term Loan Commitments made after the Third Amendment Effective Date, if applicable, of all the Lenders.

 

(m)                             The Credit Agreement is hereby amended by adding the following new Section 1.8:

 

“1.8                         Not-For-Profit Universities.

 

Notwithstanding anything to the contrary in this Agreement, if at any time the Parent Borrower concludes that one or more of its Not-For-Profit Universities no longer should be included as a fully economically consolidated entity (each such Not-For-Profit University, a “Non-Consolidated Not-For-Profit University”) in the consolidated financial statements of the Parent Borrower delivered to the Administrative Agent in accordance with Sections 9.1(a) or 9.1(b), including the consolidated balance sheet of the Parent Borrower and the related consolidated statements of operations and cash flows:

 

(a)                                 the delivery of any consolidated financial statements of the Parent Borrower for any period prior to the Subsequent Period, which consolidated financial statements included any such Non-Consolidated Not-For-Profit University as a consolidated Subsidiary of the Parent Borrower (each “Prior Financial Statements”) and any accompanying certification and narrative report with respect thereto shall not give rise to a Default or an Event of Default due to the inclusion of any such Non-Consolidated Not-For-Profit University in the consolidated financial statements of the Parent Borrower for any period prior to the Subsequent Period;

 

(b)                                 any restatement of any Prior Financial Statements solely in connection with any such change in accounting treatment for any Not-For-Profit University shall not give rise to a Default or an Event of Default; and

 

(c)                                  for each Subsequent Period, to satisfy the delivery of consolidated financial statements of the Parent Borrower and the Subsidiaries to the Administrative Agent pursuant to Section 9.1(a) or Section 9.1(b), as the case may be, the Borrowers shall furnish to the Administrative Agent (i) the consolidated financial statements of the Parent Borrower (excluding any Non-Consolidated Not-For-Profit University) prepared in accordance with GAAP (each “Consolidated Financial Statements”), (ii) the aggregate of the unaudited standalone consolidated financial statements of each Non-Consolidated Not-For-Profit University (each “Non-Consolidated NFP Financial Statements”) prepared in accordance with GAAP, (iii) a reconciliation reflecting (A) the Consolidated Financial Statements minus (B) the aggregate results of each of the Unrestricted Subsidiaries included in the Consolidated Financial Statements, subject to applicable consolidation adjustments (the “Adjusted Consolidated Financial

 

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Statements”), (iv) a reconciliation reflecting (A) the aggregate results of the Non- Consolidated NFP Financial Statements minus (B) the aggregate results of each of the Unrestricted Subsidiaries included in the Non-Consolidated NFP Financial Statements, subject to applicable consolidation adjustments (the “Adjusted Non-Consolidated NFP Financial Statements”), (v) a reconciliation reflecting the aggregate of the results of (A) the Consolidated Financial Statements and (B) the aggregate results of the Non-Consolidated NFP Financial Statements, and (vi) a reconciliation reflecting the aggregate of the results of (A) the Adjusted Consolidated Financial Statements and (B) the Adjusted Non-Consolidated NFP Financial Statements (the reconciliations referred to in clauses (v) and (vi) of Section 1.8(c) is referred to as the “Lender Financials”).

 

In addition, notwithstanding anything to the contrary herein, the Borrowers shall not be deemed to have failed to comply with any of their agreements under Sections 9.1(a) or 9.1(b) for the purposes of Section 11.3 if any such failure to comply is caused by a need to restate of any Prior Financial Statements solely in connection with any such change in accounting treatment for any Not-For-Profit University until such failure shall continue unremedied 120 days after the date any report is required to be filed with SEC or delivered to the Administrative Agent pursuant to Sections 9.1(a) or 9.1(b).”

 

(n)                                 Section 2.1(a) of the Credit Agreement is hereby amended as of the Third Amendment Effective Date by adding the following sentence immediately before the last sentence of Section 2.1(a):

 

“On the Third Amendment Effective Date, the New Replacement Term Loans shall constitute Term Loans in all respects.”

 

(o)                                 The Credit Agreement is hereby amended by deleting Section 5.1(c) in its entirety and replacing it with the following:

 

“(c) In the event that, on or prior to the date that is six months after the Third Amendment Effective Date, the Parent Borrower (x) makes any prepayment of any of the New Replacement Term Loans in connection with any Repricing Transaction, or (y) effects any amendment of this Agreement resulting in a Repricing Transaction with respect to any of the New Replacement Term Loans, the Parent Borrower shall pay to the Administrative Agent, for the ratable account of each of the applicable Lender’s holding the New Replacement Term Loans, (I) in the case of clause (x), a prepayment premium of 1.0% of the amount of the New Replacement Term Loans being prepaid and (II) in the case of clause (y), a payment equal to 1% of the aggregate amount of the New Replacement Term Loans outstanding immediately prior to such amendment.”

 

(p)                                 The Credit Agreement is hereby amended by (i) deleting the word “and” at the end of clause (q) of Section 10.2, (ii) replacing the period at the end of clause (r) of Section 10.2 with “; and” and (iii) adding the following new clause (s) to Section 10.2:

 

“(s) Liens in respect of real estate, fixed or capital assets, and personal property relating solely to such assets, owned or acquired by the Parent Borrower or a

 

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Restricted Subsidiary, provided that (i) the Indebtedness secured thereby does not exceed the fair market value of such assets and in no event shall the Indebtedness secured thereby exceed the Maximum Permitted SLB/Lien Amount (of which no more than  $250,000,000 may be secured by assets of the Parent Borrower or a Restricted Subsidiary owned as of the Restatement Effective Date) as calculated immediately prior to the issuance or incurrence of such Indebtedness and (ii) the Net Cash Proceeds received by the Parent Borrower or any of the Restricted Subsidiaries in respect of such Indebtedness secured thereby (A) shall be used for Permitted SLB Investments invested no later than the last day of the Reinvestment Period after the issuance or incurrence of such Indebtedness or (B) if not invested within the Reinvestment Period, shall be promptly applied to the prepayment of the Term Loans;”

 

(q)                                 The Credit Agreement is hereby amended by deleting Section 10.4(n) in its entirety and replacing it with the following:

 

“(n) the Parent Borrower and the Restricted Subsidiaries may effect Permitted Sale Leasebacks; provided that Net Cash Proceeds (without giving effect to any reinvestment right) of Permitted Sale Leasebacks received from and after the Restatement Effective Date in respect of assets owned by the Parent Borrower or a Restricted Subsidiary (of which no more than $250,000,000 shall be Net Cash Proceeds of Permitted Sale Leasebacks in respect of assets of the Parent Borrower or a Restricted Subsidiary owned as of the Restatement Effective Date) shall be (i) used, up to the Maximum Permitted SLB/Lien Amount as calculated immediately prior to such Permitted Sale Leaseback, for Permitted SLB Investments, in each case consummated or reinvested no later than the last day of the Reinvestment Period after the consummation of such Permitted Sale Leaseback, or (ii) applied to the prepayment of the Term Loans.”

 

(r)                                    The Credit Agreement is hereby amended by deleting Section 10.5(w) in its entirety and replacing it with the following:

 

“(w) Permitted SLB Investments financed with up to the Maximum Permitted SLB/Lien Amount as calculated immediately prior to such Permitted SLB Investments of proceeds of Permitted Sale Leasebacks or Permitted SLB/Lien Prepayment Events received from and after the Restatement Effective Date (of which no more than  $250,000,000 shall be proceeds of Permitted Sale Leasebacks or Permitted SLB/Lien Prepayment Events in respect of assets of the Parent Borrower or a Restricted Subsidiary owned as of the Restatement Effective Date) and consummated no later than the last day of the Reinvestment Period after the consummation of such Permitted Sale Leaseback or Permitted SLB/Lien Prepayment Event, as applicable.”

 

SECTION 2.                            New Replacement Term Loans.

 

(a)                 Subject to the terms and conditions set forth herein:

 

(i)                                     (A) each Continuing Series 2018 Extended Term Lender agrees to continue all (or such lesser amount as notified to such Lender by the Lead Arranger prior to the Amendment Effective Date) of its respective Existing

 

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Series 2018 Extended Term Loans as a New Series 2018 Extended Term Loan on the date requested by the Parent Borrower to be the Amendment Effective Date in a principal amount equal to such Continuing Term Lender’s New Series 2018 Extended Term Loan Commitment (as defined below), and (B) each Continuing Series A New Term Lender agrees to continue all (or such lesser amount as notified to such Lender by the Lead Arranger prior to the Amendment Effective Date) of its respective Existing Series A New Term Loans as a New Series A New Term Loan on the date requested by the Parent Borrower to be the Amendment Effective Date in a principal amount equal to such Continuing Term Lender’s New Series A New Term Loan Commitment (as defined below); and

 

(ii)                                  (A) each Additional New Series 2018 Extended Term Lender agrees to make a New Series 2018 Extended Term Loan on the Amendment Effective Date to the Parent Borrower in a principal amount equal to such Additional New Series 2018 Extended Term Lender’s New Series 2018 Extended Term Loan Commitment and (B) each Additional New Series A New Term Lender agrees to make a New Series A New Term Loan on the Amendment Effective Date to the Parent Borrower in a principal amount equal to such Additional New Series A New Term Lender’s New Series A New Term Loan Commitment. The Parent Borrower shall give notice to the Administrative Agent of the proposed Amendment Effective Date not later than one Business Day prior thereto, and the Administrative Agent shall notify each Continuing Term Lender and each Additional Term Loan Lender thereof. For the avoidance of doubt, the Existing Term Loans of a Continuing Term Lender must be continued in whole and may not be continued in part unless approved by Citigroup Global Markets Inc. (the “Lead Arranger”).

 

(b)                                 Each Additional Term Loan Lender will make its respective New Replacement Term Loan on the Amendment Effective Date by making available to the Administrative Agent, in the manner contemplated by Section 2.4 of the Credit Agreement, an amount equal to its respective New Term Loan Commitment (as defined below). The “New Series 2018 Extended Term Loan Commitment” (i) of any Continuing Series 2018 Extended Term Loan Lender will be the amount of its Existing Series 2018 Extended Term Loans as set forth in the Register as of the Amendment Effective Date, which shall be continued as an equal amount of New Series 2018 Extended Term Loans, and (ii) of any Additional New Series 2018 Extended Term Loan Lender will be such amount (not exceeding any commitment offered by such Additional New Series 2018 Extended Term Loan Lender) allocated to it by the Lead Arranger and notified to it on or prior to the Amendment Effective Date. The “New Series A New Term Loan Commitment” (i) of any Continuing Series A New Term Lender will be the amount of its Existing Series A New Term Loans as set forth in the Register as of the Amendment Effective Date, which shall be continued as an equal amount of New Series A New Term Loans, and (ii) of any Additional New Series A New Term Loan Lender will be such amount (not exceeding any commitment offered by such Additional New Series A New Term Loan Lender) allocated to it by the Lead Arranger and notified to it on or prior to the Amendment Effective Date.  The New Series 2018 Extended Term Loan Commitment and the

 

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New Series A New Term Loan Commitments shall be referred to each as a “New Term Loan Commitment” and, collectively, as the “New Term Loan Commitments.”

 

(c)                                  The commitments of the Additional Term Loan Lenders and the continuation undertakings of the Continuing Term Lenders are several, and no such Lender will be responsible for any other such Lender’s failure to make or acquire by continuation its New Replacement Term Loan. The New Replacement Term Loans may from time to time be ABR Loans or Eurodollar Loans, as determined by the Parent Borrower and notified to the Administrative Agent as contemplated by Sections 2.3 and 2.6 of the Credit Agreement. The Lenders having Existing Term Loans that are prepaid or continued in connection with the making of the New Replacement Term Loans shall not be entitled to any breakage costs or any other benefits of Section 2.11 of the Credit Agreement with respect thereto.

 

(d)                                 The Parent Borrower shall make scheduled principal payments on the New Series A New Term Loans as set forth in the Credit Agreement on the dates and in the amounts set forth in the Credit Agreement and the Parent Borrower shall make principal payments on the New Series 2018 Extended Term Loans in an amount equal to the aggregate amount of the scheduled principal payments on the Existing Series 2018 Extended Term Loans under the Credit Agreement on the dates set forth in the Credit Agreement.

 

(e)                                  The obligation of each New Term Lender to make or acquire by continuation New Replacement Term Loans on the Amendment Effective Date is subject to the satisfaction of the conditions set forth in Section 4 of this Amendment.

 

(f)                                   The provisions of the Credit Agreement with respect to indemnification and reimbursement of costs and expenses shall continue in full force and effect with respect to, and for the benefit of, each Existing Term Lender in respect of such Lender’s Existing Term Loans.

 

(g)                                  The continuation of Continued Term Loans shall be deemed a prepayment of the respective Existing Term Loan although the continuation of the Continued Term Loans may be implemented pursuant to other procedures specified by the Lead Arranger, including by repayment of Continued Term Loans of a Continuing Term Lender followed by a subsequent assignment to it of New Term Loans in the same amount.

 

For the avoidance of doubt, the Lenders hereby acknowledge and agree that, at the sole option of the Lead Arranger, any Lender with Existing Term Loans that are prepaid as contemplated hereby shall, automatically upon receipt of the amount necessary to purchase such Lender’s Existing Term Loans so replaced, at par, together with all accrued interest thereon, be deemed to have assigned such Loans pursuant to a form of Assignment and Assumption and, accordingly, no other action by the Lenders, the Administrative Agent or the Loan Parties shall be required in connection therewith. The Lenders hereby agree to waive the notice requirements of Section 5.1(a) of the Credit

 

12

 

Agreement in connection with the prepayment or replacement of Existing Term Loans contemplated hereby.

 

(h)                                 The Parent Borrower specifies that (a) prepayment of the Series 2018 Extended Term Loans (including the Series B New Term Loans and the Series B Additional Term Loans) and the Series A-2018 New Term Loans (whether by continuation of the Existing Series 2018 Extended Term Loans or the Additional New Series 2018 Extended Term Loans) shall be applied to the Series 2018 Extended Term Loans and the Series A-2018 New Term Loans, and (b) prepayment of the Series A New Term Loans (whether by continuation of the Existing Series A New Term Loans or the Additional New Series A New Term Loans) shall be applied to the Series A New Term Loans.

 

(i)                                     Each New Term Loan Lender acknowledges and agrees that, upon its execution of this Amendment and the continuation into or making of its respective New Replacement Term Loan, such New Term Loan Lender shall continue to be or become a “Lender” under, and for all purposes of, the Credit Agreement and the other Credit Documents, shall be a party to the Credit Agreement as a “Lender” and shall be subject to and bound by the terms thereof.

 

SECTION 3. Representations and Warranties. To induce the other parties hereto to enter into this Amendment, the Borrowers represent and warrant to each of the Lenders party hereto and the Administrative Agent that, as of the date hereof:

 

(a)                                 After giving effect to this Amendment, the representations and warranties set forth in Section 8 of the Credit Agreement are true and correct in all material respects on and as of the date hereof to the same extent as if made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that to the extent any such representation and warranty is already qualified by materiality or Material Adverse Effect, such representation and warranty shall be true and correct in all respects.

 

(b)                                 Each Borrower has the requisite power and authority to execute and deliver this Amendment and to perform its obligations under this Amendment and each other Credit Document, as amended hereby. The execution and delivery of this Amendment and the performance by each Borrower of this Amendment and each other Credit Document (as amended hereby) to which it is a party have been duly approved by all necessary organizational action of each such Borrower. The execution and delivery of this Amendment and the performance of the Credit Agreement by each Borrower do not and will not (i) require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority, where the failure to obtain such registration, consent or approval or give such notice, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect and (ii) result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under,

 

13

 

or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets of such Borrower (other than Liens created under the Credit Documents) pursuant to, the terms of any Contractual Requirement;

 

(c)                                  This Amendment has been duly executed and delivered by each Borrower that is a party hereto and this Amendment is the legally valid and binding obligation of each such Borrower, enforceable against such Borrower in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability; and

 

(d)                                 No Default or Event of Default has occurred and is continuing.

 

SECTION 4.                      Amendment Effectiveness.  The effectiveness of this Amendment shall be subject to the following conditions precedent:

 

(a)                                 the Administrative Agent shall have received from each of the Borrowers and the Lenders constituting Required Lenders and each of the New Term Loan Lenders, a duly executed and delivered counterpart of this Amendment signed on behalf of such party;

 

(b)                                 the Administrative Agent shall have received the executed legal opinion letter of DLA Piper LLP (US), as counsel to the Parent Borrower, with respect to this Amendment executed by the Parent Borrower; and

 

(c)                                  the Administrative Agent shall have received for its account or the account of each Agent entitled thereto (if applicable) all fees in connection with this Amendment agreed to prior to the Amendment Effective Date and all amounts due and payable to the Administrative Agent on or prior to the Amendment Effective Date pursuant to the Credit Documents, including to the extent invoiced prior to the date hereof, reimbursement of all out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or paid by the Borrowers hereunder or under any other Credit Document with respect to this Amendment.

 

The date on which such conditions have been satisfied (or waived by the Administrative Agent) is referred to herein as the “Amendment Effective Date”.

 

SECTION 5. Effect of Amendment. Except as expressly provided in this Amendment, nothing herein shall be deemed to entitle any Credit Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Credit Document in similar or different circumstances. On and after the effective date of this Amendment, this Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents.

 

14

 

SECTION 6. Consent. Each Lender that delivers an executed counterpart of this Amendment (including the Lender Addendum) hereby consents to this Amendment. By delivery of an executed counterpart of this Amendment, the Administrative Agent and each Borrower consents to this Amendment.

 

SECTION 7. Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same contract. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other customary means of electronic transmission (e.g., “pdf”) shall be as effective as delivery of a manually executed counterpart hereof.

 

SECTION 8. Applicable Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

SECTION 9.  Submission to Jurisdiction; WAIVER OF JURY TRIAL.  Section 14.13 of the Credit Agreement is hereby incorporated by reference herein. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AMENDMENT, THE CREDIT AGREEMENT OR ANY OTHER CREDIT DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

SECTION 10. Headings; Recitals. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof. The Recitals are incorporated herein and made a part of this Amendment.

 

[Remainder of page intentionally left blank]

 

15

 

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

 

	
 
    	
LAUREATE EDUCATION, INC.,
    
	
 
    	
as Parent Borrower
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Eilif Serck-Hanssen
    
	
 
    	
Name:   
    	
Eilif   Serck-Hanssen
    
	
 
    	
Title:
    	
Executive   Vice President and
    
	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
INICIATIVAS CULTURALES DE
    
	
 
    	
ESPANA S.L., as   Foreign 
    
	
 
    	
Subsidiary Borrower
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Eilif Serck-Hanssen
    
	
 
    	
Name:   
    	
Eilif   Serck-Hanssen
    
	
 
    	
Title:
    	
Director
    

 

 

	
 
    	
CITIBANK, N.A.,
    
	
 
    	
as Administrative Agent
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Caesar W. Wyszomirski
    
	
 
    	
Name:   
    	
Caesar   W. Wyszomirski
    
	
 
    	
Title:   
    	
Vice   President
    

 

[Signature Page to Third Amendment to Amended and Restated Credit Agreement]

 

 

	
NEW TERM LOAN   LENDER SIGNATURE PAGE
    
	
 
    	
 
    
	
 
    	
Date: 10/2/13
    
	
 
    	
 
    
	
 
    	
Citicorp North   America, Inc.,
    
	
 
    	
as a New Term Loan Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   David Tuder
    
	
 
    	
Name:   
    	
David   Tuder
    
	
 
    	
Title:   
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
If   a second signature is necessary:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

[Signature Page to Third Amendment to Amended and Restated Credit Agreement]

 

 

[Signature Page to Third Amendment to Amended and Restated Credit Agreement]

 

 

	
NEW TERM LOAN   LENDER SIGNATURE PAGE
    
	
 
    	
 
    
	
 
    	
Date: 10/2/13
    
	
 
    	
 
    
	
 
    	
Citicorp North   America, Inc.,
    
	
 
    	
as a New Term Loan Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   David Tuder
    
	
 
    	
 
    	
Name:   
    	
David   Tuder
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
If   a second signature is necessary:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    

 

[Signature Page to Third Amendment to Amended and Restated Credit Agreement]Exhibit 10.6

 

EXECUTION VERSION

 

FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT AND

 

AMENDMENT TO THE U.S. OBLIGATIONS SECURITY AGREEMENT AND THE

 

U.S. PLEDGE AGREEMENT

 

This FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT, dated as of July 7, 2015 (this “Amendment”) is entered into by Laureate Education, Inc., a Maryland corporation (the “Parent Borrower”), Iniciativas Culturales de España S.L., a Spanish limited liability company (the “Foreign Subsidiary Borrower”, together with the Parent Borrower, the “Borrowers”), Citibank, N.A. as successor Administrative Agent and Collateral Agent (in such capacities, the “Administrative Agent” and “Collateral Agent,” respectively), the other parties hereto and certain financial institutions listed on the signature pages hereto.

 

RECITALS

 

A.                    Reference is hereby made to the Amended and Restated Credit Agreement, dated as of June 16, 2011, by and among the Parent Borrower, the Foreign Subsidiary Borrower, the lending institutions party thereto from time to time and Citibank, N.A., as successor Administrative Agent and Collateral Agent (as it has been or may be amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”); capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement.

 

B.                   Pursuant to the Credit Agreement, the Lenders have extended, and have agreed to extend, credit to the Borrowers.

 

C.                   The Borrowers, the Administrative Agent and the Lenders party hereto desire to amend the Credit Agreement as set forth herein, subject to the satisfaction of the conditions precedent to effectiveness referred to in Section 3 hereof.

 

D.                    Citigroup Global Markets Inc. is the lead arranger of this Amendment (in such capacity, the “Lead Arranger”).

 

Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION 1. A. Amendments to the Credit Agreement. On the Fourth Amendment Effective Date (as defined below), the following amendments are made to the Credit Agreement:

 

(a)                   Clause (a) of the definition of “Applicable Equity Amount” in Section 1.1 of the Credit Agreement is hereby amended by deleting each instance of “100%” and substituting their respective places “100% (or 75% in the case of any such transaction consummated prior to the Fourth Amendment Effective Date).”

 

 

(b)                    Clause (a)(ix) of the definition of “Consolidated EBITDA” in Section 1.1 is hereby amended by deleting “$15,000,000” and substituting in its place “$25,000,000.”

 

(c)                    The following definition of “Fourth Amendment Effective Date” is added in Section 1.1 immediately following the defined term, “Foreign Subsidiary Borrower”:

 

““Fourth Amendment Effective Date” shall mean July 7, 2015”

 

(d)                    The definition of “Maximum Incremental Facilities Amount” in Section 1.1 is hereby amended and restated in its entirety as follows:

 

““Maximum Incremental Facilities Amount” shall mean, without duplication, (a) $200,000,000 (solely for any incurrences consummated prior to the Fourth Amendment Effective Date) minus any amount incurred pursuant to Section 10.1(n)(i)(a) from and after the Third Amendment Effective Date, plus (b) additional amounts incurred after the Third Amendment Effective Date, to the extent, both immediately before and after giving effect to such additional amounts (assuming for such purposes that such amounts are fully drawn in the form of loans on the date of determination and excluding from the calculation of Consolidated Total Debt any netting of Unrestricted Cash that would result from the incurrence of any such portion of the Maximum Incremental Facilities Amount being incurred at such time) that the Consolidated Senior Secured Debt to Consolidated EBITDA Ratio is not greater than 2.75 to 1.00. It is understood that the Series A New Revolving Commitments, the Series A-2018 New Term Loans and the Series B New Term Loans shall not reduce the Maximum Incremental Facilities Amount. For avoidance of doubt, the Series B Additional Term Loans and the New Replacement Term Loans were not New Term Loans under Section 2.14 hereof.”

 

(e)                    Clause (d) of the definition of “Permitted Lien” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

“(d) Liens incurred or deposits made in connection with workers’ compensation, unemployment insurance and other types of social security, or to secure the performance of tenders, statutory obligations (including, without limitation, Liens and deposits to secure letters of credit issued to the Department of Education or other Governmental Authority supporting Title IV funding participation in student financial assistance programs under Title IV of the Higher Education Act of 1965, as amended (or any replacement thereof)), surety and appeal bonds, bids, leases (including, without limitation, any Liens or deposits to secure any bank guarantee or letter of credit issued to secure any lease), government contracts, performance and return-of-money bonds and other similar obligations incurred in the ordinary course of business or otherwise constituting Investments permitted by Section 10.5;”

 

(f)                   The definition of “Series 2016 Revolving Credit Maturity Date” in Section 1.1 is hereby amended and restated in its entirety as follows:

 

““Series 2016 Revolving Credit Maturity Date” shall mean March 8, 2018.

 

(g)                     The first paragraph of Section 10.1 of the Credit Agreement is hereby

 

2

 

amended by deleting “$100,000,000” and substituting in its place “$50,000,000”.

 

(h)                    Section 10.1(l) of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

“(l) additional Indebtedness (other than of Non-Domestic Subsidiaries) and (ii) any refinancing, refunding, renewal or extension of any Indebtedness specified in subclause (i) above; provided that the aggregate amount of all Indebtedness incurred pursuant to this clause (l), shall not exceed $120,000,000; provided further that immediately before and after the incurrence of such additional Indebtedness, no Default shall have occurred and be continuing”.

 

(i)                    Section 10.1(v) of the Credit Agreement is hereby amended by deleting “$100,000,000” and substituting in its place “$50,000,000”.

 

(j)                   Section 10.2(c) of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

“(c) Liens securing Indebtedness permitted pursuant to Section 10.1(f), provided that (x) such Liens attach concurrently with or within two hundred and seventy (270) days after completion of the acquisition, construction, repair, replacement or improvement (as applicable) of the property subject to such Liens and (y) such Liens attach at all times only to the assets so financed except (1) for accessions to the property financed with the proceeds of such Indebtedness and the proceeds and the products thereof and (2) that individual financings of equipment provided by one lender may be cross collateralized to other financings of equipment provided by such lender and (3) that if the Lien is to attach to a building or improvement constructed on a parcel of land (whether such land is already owned by a Restricted Subsidiary or acquired but not financed with the proceeds of such Indebtedness permitted pursuant to Section 10.1(f)), (A) such Lien can also attach to such parcel of land on which such building or improvement constructed with the proceeds of the Indebtedness permitted pursuant to Section 10.1(f) was constructed and (B) a Lien may also be granted in and attach to any intercompany lease, sublease or license of such land, buildings and/or improvements and any right, title and interest under an intercompany lease, sublease or license of such parcel of land, buildings and/or improvements (whether as lessor, sublessor, licensor, lessee, sublessee or licensee), including any rents, revenues and proceeds arising under such intercompany lease, sublease or license, in case of each of clauses (A) and (B), in order to facilitate the granting of the Lien on the building or improvement constructed with the proceeds of such Indebtedness permitted pursuant to Section 10.1(f)”.

 

(k)                    Section 10.4(d) of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

“(d) the Parent Borrower and any Restricted Subsidiary may effect any (i) transaction permitted by Section 10.3 (other than any transaction permitted by Section 10.3(j)), 10.5 or 10.6 and (ii) assignment of any intercompany lease, sublease or license and/or any right, title and interest under any intercompany lease, sublease or license, as collateral, to the extent a Lien thereon is also permitted under Section 10.2(c);”

 

(l)                    Section 10.5(g)(vi) of the Credit Agreement is hereby amended by deleting “5.50 to 1.00” and substituting in its place “4.75 to 1.00”.

 

3

 

(m)                           Section 10.5(s) of the Credit Agreement is hereby amended by (i) deleting “5.50 to 1.00” and substituting in its place “4.75 to 1.00” and (ii) deleting “$200,000,000” and substituting in its place “$175,000,000”.

 

(n)                          Section 10.6(c) of the Credit Agreement is hereby amended by (i) deleting “5.50 to 1.00”, wherever it appears, and substituting in its place “4.75 to 1.00” and (ii) deleting “5.00 to 1.00”, wherever it appears, and substituting in its place “3.75 to 1.00”.

 

(o)                          Section 10.6(h) of the Credit Agreement is hereby amended by deleting “5.50 to 1.00” and substituting in its place “4.75 to 1.00”.

 

(p)                          Section 10.7(a)(i) of the Credit Agreement is hereby amended by deleting “5.50 to 1.00” and substituting in its place “4.75 to 1.00”.

 

(q)                          The Credit Agreement is hereby amended by adding the following as a new Section 10.10:

 

“10.10                                                           Financial Covenant. Solely with respect to the Revolving Credit Loans, each Borrower will not permit the Consolidated Senior Secured Debt to Consolidated EBITDA Ratio as of (and only as of) the last day of a Test Period (commencing with the Test Period ending June 30, 2015) ending during the periods set forth in the table below to exceed the ratio set forth below opposite such period, provided that, following a Qualifying IPO (or private offering of common stock or any preferred stock which is mandatorily convertible into common stock by (x) the Parent Borrower or (y) to the extent the Net Cash Proceeds thereof are substantially simultaneously contributed to the Parent Borrower, any direct or indirect holding company of the Parent Borrower), to the extent the Consolidated Total Debt to Consolidated EBITDA Ratio is less than or equal to 4.75 to 1.00 as of the last day of a Test Period, the financial covenant set forth herein shall only be tested as of the last day of a fiscal quarter if 25% or more of the Revolving Credit Facility is utilized (whether in the form of Revolving Credit Loans of any currency, Swingline Loans, Letters of Credit or otherwise) as of such date:

 

	
Period
    	
 
    	
Consolidated Senior Secured Debt to 
   Consolidated EBITDA Ratio
    
	
June 30, 2015
    	
 
    	
5.50 to 1.00
    
	
September 30, 2015
    	
 
    	
5.50 to 1.00
    
	
December 31, 2015
    	
 
    	
5.30 to 1.00
    
	
March 31, 2016
    	
 
    	
5.30 to 1.00
    
	
June 30, 2016
    	
 
    	
5.30 to 1.00
    
	
September 30, 2016
    	
 
    	
5.30 to 1.00
    

 

4

 

	
December 31, 2016
    	
 
    	
4.50 to 1.00
    
	
March 31, 2017
    	
 
    	
4.50 to 1.00
    
	
June 30, 2017
    	
 
    	
4.50 to 1.00
    
	
September 30, 2017
    	
 
    	
4.50 to 1.00
    
	
December 31, 2017
    	
 
    	
3.50 to 1.00
    

 

”

 

(r)                               Section 11.3(i) of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

“(i) default in the due performance or observance by it of any term, covenant or agreement contained in Section 9.1(d), Section 9.5 or Section 10, provided that a default as a result of a breach of Section 10.10 shall not constitute an Event of Default with respect to any Term Loans unless and until the Revolving Credit Lenders have declared all amounts outstanding under the Revolving Credit Loans to be immediately due and payable and/or all outstanding Revolving Credit Commitments terminated, in each case in accordance with this Agreement and such declaration has not been rescinded on or before such date; or”

 

(s)                          Section 11.4 of the Credit Agreement is hereby amended by deleting “$40,000,000” and substituting in its place “$75,000,000”.

 

(t)                          Section 11.11 of the Credit Agreement is hereby amended by deleting “$40,000,000” and substituting in its place “$75,000,000”.

 

(u)                          Schedule 1.1(c) of the Credit Agreement is hereby amended by deleting all Series 2016 Revolving Credit Commitments and all Series 2016 Spanish Revolving Credit Commitments therein and substituting in their respective places Annex I hereto.

 

SECTION 1. B. Amendments to the U.S. Obligations Security Agreement. On the Fourth Amendment Effective Date, the following amendments are made to the U.S. Obligations Security Agreement:

 

(a)                         The U.S. Obligations Security Agreement is hereby amended by deleting “Credit Card Bank”, wherever it appears, and substituting in its place “Cash Management Bank”.

 

(b)                          The U.S. Obligations Security Agreement is hereby amended by deleting “Credit Card Program”, wherever it appears, and substituting in its place “Cash Management Program”.

 

(c)                          The definition of “Secured Obligations” in Section 1(c) of the U.S. Obligations Security Agreement is hereby amended and restated in its entirety as

 

5

 

follows:

 

““Secured Obligations” shall mean (i) Obligations and (ii) all advances to, and debts, liabilities, obligations, covenants and duties of, any Grantor arising under (x) any purchasing card program established to enable headquarters and field staff of a Grantor to purchase goods and supplies from vendors, (y) any travel and entertainment card program established to enable headquarters and field staff of a Grantor to make payments for expenses incurred related to travel and entertainment and (z) other cash management programs involving any agreement or arrangement to provide treasury management, depository, overdraft, letters of credit, automated clearinghouse, electronic funds transfer and similar programs (all such programs under this clause (ii), collectively, “Cash  Management Program”) entered into in the ordinary course of business by and between any Grantor and a Cash Management Bank; provided that the aggregate principal amount of the obligations secured pursuant to clauses (ii) shall at no time exceed $20,000,000.”

 

SECTION 1. C. Amendments to the U.S. Pledge Agreement. On the Fourth Amendment Effective Date, the following amendments are made to the U.S. Pledge Agreement:

 

(a)                   The U.S. Pledge Agreement is hereby amended by deleting “Credit Card Bank”, wherever it appears, and substituting in its place “Cash Management Bank”.

 

(b)                    The U.S. Pledge Agreement is hereby amended by deleting “Credit Card Program”, wherever it appears, and substituting in its place “Cash Management Program”.

 

(c)                    The definition of “Secured Obligations” in Section 1(h) of the U.S. Pledge Agreement is hereby amended and restated in its entirety as follows:

 

““Secured Obligations” shall mean (i) Obligations and (ii) all advances to, and debts, liabilities, obligations, covenants and duties of, any Grantor arising under (x) any purchasing card program established to enable headquarters and field staff of a Grantor to purchase goods and supplies from vendors, (y) any travel and entertainment card program established to enable headquarters and field staff of a Grantor to make payments for expenses incurred related to travel and entertainment and (z) other cash management programs involving any agreement or arrangement to provide treasury management, depository, overdraft, letters of credit, automated clearinghouse, electronic funds transfer and similar programs (all such programs under this clause (ii), collectively, “Cash Management Program”) entered into in the ordinary course of business by and between any Grantor and a Cash Management Bank; provided that the aggregate principal amount of the obligations secured pursuant to clauses (ii) shall at no time exceed $20,000,000.”

 

SECTION 2. Representations and Warranties. To induce the other parties hereto to enter into this Amendment, the Borrowers represent and warrant to each of the Lenders party hereto and the Administrative Agent that, as of the date hereof:

 

(a)                   After giving effect to this Amendment, the representations and warranties set forth in Section 8 of the Credit Agreement are true and correct in

 

6

 

all material respects on and as of the date hereof to the same extent as if made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided that to the extent any such representation and warranty is already qualified by materiality or Material Adverse Effect, such representation and warranty shall be true and correct in all respects.

 

(b)                  Each Borrower has the requisite power and authority to execute and deliver this Amendment and to perform its obligations under this Amendment and each other Credit Document, to which it is a party, as amended hereby. The execution and delivery of this Amendment and the performance by each Borrower of this Amendment and each other Credit Document (as amended hereby) to which it is a party have been duly approved by all necessary organizational action of each such Borrower. The execution and delivery of this Amendment and the performance of the Credit Agreement by each Borrower do not and will not (i) require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority, where the failure to obtain such registration, consent or approval or give such notice, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect and (ii) result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets of such Borrower (other than Liens created under the Credit Documents) pursuant to, the terms of any Contractual Requirement;

 

(c)                  This Amendment has been duly executed and delivered by each Borrower that is a party hereto and this Amendment is the legally valid and binding obligation of each such Borrower, enforceable against such Borrower in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability;

 

(d)            No Default or Event of Default has occurred and is continuing; and

 

(e)                  On, and after giving effect to, the Fourth Amendment Effective Date, there has been no Material Adverse Effect since December 31, 2014.

 

SECTION 3. Amendment Effectiveness.  The effectiveness of this Amendment shall be subject to the following conditions precedent:

 

(a)              the Administrative Agent (or its counsel) shall have received a duly executed and completed counterpart hereof (in the form provided and specified by the Administrative Agent) that bears the signature of (i) each of the Borrowers, the affected Grantors party to the U.S. Obligations Security Agreement and the affected Pledgors party to the U.S. Pledge Agreement, (ii) the Administrative Agent, (iii) if any is then appointed pursuant to the Credit

 

7

 

Agreement, the Swingline Lender, (iv) if any is then appointed pursuant to the Credit Agreement, the Letter of Credit Issuer, (v) each Revolving Credit Lender party to the Credit Agreement from and after the Fourth Amendment Effective Date and (vi) the Required Lenders;

 

(b)                      the Administrative Agent (or its counsel) shall have received the executed legal opinion letter of (i) DLA Piper LLP (US), as counsel to the Parent Borrower and (ii) GÓMEZ-ACEBO & POMBO Abogados, S. L. P. as counsel to the Foreign Subsidiary Borrower;

 

(c)                the Administrative Agent shall have received all amounts due and payable to the Administrative Agent and the Lead Arranger on or prior to the Fourth Amendment Effective Date pursuant to the Credit Documents, including, to the extent invoiced prior to the date hereof, reimbursement of all out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or paid by the Borrowers hereunder or under any other Credit Document with respect to this Amendment;

 

(d)                                        the Administrative Agent (or its counsel) shall have received duly executed and delivered customary secretary’s certificates, in form and substance reasonably satisfactory to the Administrative Agent, with appropriate attachments regarding corporate records and evidence of authority, for the Parent Borrower and the Foreign Subsidiary Borrower;

 

(e)                                         the Administrative Agent (or its counsel) shall have received a duly executed and delivered solvency certificate, in form and substance reasonably satisfactory to the Administrative Agent, for the Parent Borrower and its Restricted Subsidiaries on a consolidated basis, from the chief financial officer of the Parent Borrower;

 

(f)                                          if applicable, the assignment of any Loans and Commitments of any Non-Consenting Lender, if any, to one or more assignees reasonably acceptable to the Administrative Agent; provided that (i) all Obligations (other than principal and interest) of the Borrowers owing to such Non-Consenting Lender being replaced shall be paid in full to such Non-Consenting Lender concurrently with such assignment, and (ii) the replacement Lender shall purchase the foregoing by paying to such Non-Consenting Lender a price equal to the principal amount thereof plus accrued and unpaid interest thereon;

 

(g)                                         the Lead Arranger will have received at least 2 days prior to the Fourth Amendment Effective Date all documentation and other information (to the extent such documentation and other information has been requested at least 10 days prior to the Fourth Amendment Effective Date by a party hereto who was not a Lender immediately prior to the Fourth Amendment Effective Date) required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including, without limitation, the Patriot Act; and

 

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(h)                                         the Administrative Agent shall have received the Consent Fee (as defined below), payable on the Fourth Amendment Effective Date in immediately available funds.

 

The date on which such conditions have been satisfied (or waived by the Administrative Agent) is referred to herein as the “Fourth Amendment Effective Date”.

 

SECTION 4.  Effect of Amendment.

 

(a)                   The Borrowers, the other Loan Parties parties hereto and the Lenders parties hereto hereby (i) waive, and authorize the Administrative Agent to waive, compliance with any requirement in the last sentence Section 14.7 of the Credit Agreement relating to the entering into of an Assignment and Acceptance pursuant to Section 14.6 with respect to any Non-Consenting Lender to this Amendment and any replacement Lender under Section 14.7 and (ii) authorize and instruct the Administrative Agent to process and accept any such assignment according to the foregoing. Notwithstanding the foregoing, from and after the Fourth Amendment Effective Date, any such replacement Lender shall be a Lender under the Credit Agreement for all purposes.

 

(b)                    Except as expressly provided in this Amendment, nothing herein shall be deemed to entitle any Credit Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Credit Document in similar or different circumstances. On and after the Fourth Amendment Effective Date, this Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents. Upon the Fourth Amendment Effective Date, each Lender party hereto that is not a Lender under the Credit Agreement immediately prior to the Fourth Amendment Effective Date will be a Lender under the Credit Agreement for all purposes of the Credit Agreement.

 

SECTION 5. Actions Among Revolving Credit Lenders. On the Business Day following the Fourth Amendment Effective Date, all outstanding Revolving Credit Loans shall be reallocated among the Revolving Credit Lenders in accordance with such Lenders’ 2016 U.S. Revolving Credit Commitment Percentage and 2016 Spanish Revolving Credit Commitment Percentages, as applicable, and the Revolving Credit Lenders shall make adjustments among themselves, and payments to each other as needed, with respect to the Revolving Credit Loans then outstanding and amounts of principal, interest, commitment fees and other amounts paid or payable with respect thereto as shall be necessary, in the opinion of the Administrative Agent, in order to effect such reallocation.

 

SECTION 6.  Post-Effectiveness Actions.

 

(a)                      Within 90 days after the Fourth Amendment Effective Date (or such later date as agreed by the Administrative Agent in its reasonable discretion), in order to satisfy the requirements under Section 9.11(b) of the Credit Agreement,

 

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each of (i) LEI China Limited, a company formed under the laws of Hong Kong, and (ii) Exeter Street Holdings Sdn. Bhd., a company formed under the laws of Malaysia shall deliver to the Administrative Agent a fully-executed supplement to the Foreign Obligations Guarantees in form and substance reasonably acceptable to the Administrative Agent and the Administrative Agent and the Lenders party hereto agree to such period of time to deliver the foregoing;

 

(b)                          the parties to the Foreign Obligations Guarantee and the Foreign Obligations Security Agreements with respect to the Obligations of the Foreign Subsidiary Borrower shall enter into a reaffirmation agreement of each such document (the “Spanish Reaffirmation Agreement”) and such Spanish Reaffirmation Agreement being raised to public status (elevación a público) before a Spanish notary public within 20 days from the execution of this Amendment; and

 

(c)                 the parties to this Amendment shall raise the Amendment to public status (elevación a público) before a Spanish notary public within 20 days from the execution of this Amendment.

 

SECTION 7. Consent; Consent Fee.

 

(a)                             Each Lender that delivers an executed counterpart of this Amendment hereby consents to this Amendment. By delivery of an executed counterpart of this Amendment, the Administrative Agent and each Borrower consents to this Amendment.

 

(b)                              The Borrower agrees to pay to the Administrative Agent for the account of each Lender that delivers an executed counterpart of this Amendment pursuant to the instructions provided by the Administrative Agent a consent fee in an amount equal to 0.50% of the sum of the aggregate amount of each such Lender’s Revolving Credit Commitment and the aggregate principal amount of each such Lender’s Term Loans, in each case, as of and after giving effect to the Fourth Amendment Effective Date (the “Consent Fee”).

 

SECTION 8. Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same contract. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other customary means of electronic transmission (e.g., “pdf”) shall be as effective as delivery of a manually executed counterpart hereof.

 

SECTION 9. Applicable Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

SECTION 10.  Submission to Jurisdiction; WAIVER OF JURY TRIAL.  Section 14.13 of the Credit Agreement is hereby incorporated by reference herein. EACH PARTY

 

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HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AMENDMENT, THE CREDIT AGREEMENT OR ANY OTHER CREDIT DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

SECTION 11. Headings.  The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

 

[Remainder of page intentionally left blank]

 

11

 

IN WITNESS   WHEREOF, the parties hereto have caused this Amendment to be duly executed by   their duly authorized officers, all as of the date and year first above   written. LAUREATE EDUCATION, INC.. as Parent Borrower Jly Q Name: Robert W.   Zentz Title: Senior Vice President, Secretary and General Counsel INICIATIVAS   CULTURALES DE ESPANA S.L.. as Foreign Subsidiary Borrower Title: LAUREATE   VENTURES, INC. LAUREATE INTERNATIONAL UNIVERSITIES, INC. INTERNATIONAL   UNIVERSITY VENTURES, LTD. LAUREATE PROPERTIES, LLC (DELAWARE) POST SECONDARY   EOUCATION ACQUISITION CORPORATION TUITION FINANCE, INC. WALDEN £-LEARNING,   LLC THE CANTER CROUP OF COMPANIES, LLC LAUREATE EDUCATION INTERNATIONAL LTD.   CANTER AND ASSOCIATES, LLC EOUCATIONAL SATELLITE SERVICES, INC. WALL STREET INTERNATIONAL   HOLDINGS-US I, INC. LEI ADMINISTRATION, LLC EXETER STREET HOLDINGS LLC, each   as U.S. Grantor and as U.S. Pledgor By: NamC:RObert\v. ZentZ Title: Vice   President and Secretary [Signature Page to Fourth Amendment] 

    

 

LAUREATE BAGBY   INVESTORS LLC, as U.S. Grantor and as U.S. Pledgor I3y: LAUREATE EDUCATION,   INC., its Sole Member By: Name: Robert W. Zentz Title: Senior Vice President.   Secretary and General Counsel FLEET STREET AVIATION, LLC, as U.S. Grantor and   as U.S. Pledgor By: Name: Robert W. Zentz Title: Manager !Signature Page to   Fourth Amendment] 

    

 

CITIBANK, N.A.,   as Administrative Agent, Collateral Agent, Swingline Lender and Lender By:   {i.R;Ja-£ t,lr.J' Name: T· I . Caesarzomirski It e. 'V 1££ Pi<   €<"1Q !'if' fi Director [Signature Page to Fourth Amendment] 

    

 

Universal-Investment-Gesellschaft   mBH ALloan as a Lender for Orion By: Name: Stephen Sylvester Title: Senior   Credit Analyst By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

The   Dreyfus/Laurel Funds, Inc. - Dreyfus Floating Rate Income Fund as a Lender   By: Alcentra NY, LLC, as investment advisor By: Name: Stephen Sylvester   Title: Senior Credit Analyst By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Pacifica CDO VI   LTD as a Lender By: Alcentra NY, LLC, as investment advisor By: Name: Stephen   Sylvester Title: Senior Credit Analyst By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

Westwood CDO I   LTD as a Lender By: Alcentra NY, LLC, as investment advisor By: Name: Stephen   Sylvester Title: Senior Credit Analyst By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

Westwood CDO II   LTD as a Lender By: Alcentra NY, LLC, as investment advisor By: Name: Stephen   Sylvester Title: Senior Credit Analyst By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

AllianceBernstein   Global High Income Fund as a Lender BY: AllianceBernstein L.P. By: Name:   Janegail Orringer Title: Senior Vice President By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

AllianceBernstein   High Income Fund as a Lender BY: AllianceBernstein L.P. By: Name: Janegail   Orringer Title: Senior Vice President By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

ALM Loan   Funding XV LLC, as a Lender By: Citibank, N.A., By: Name: Cynthia Gonzalvo   Title: Associate Director By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

ALM V, Ltd. as   a Lender By: Apollo Credit Management (CLO), LLC, as Collateral Manager By:   Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

ALM VI, Ltd. as   a Lender By: Apollo Credit Management (CLO), LLC, as Collateral Manager By:   Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

ALM VII, Ltd.   as a Lender BY: Apollo Credit Management (CLO), LLC, as Collateral Manager   By: Name: Joe Moronoey Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

ALM VII (R)-2,   Ltd. as a Lender By: Apollo Credit Management (CLO), LLC, as Collateral   Manager By: Name: Joe Moroney Title: Vice President By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

ALM VII (R),   Ltd. as a Lender By: Apollo Credit Management (CLO), LLC, as Collateral   Manager By: Name: Joe Moroney Title: Vice President By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

ALM VIII, Ltd.   as a Lender BY: Apollo Credit Management (CLO), LLC, as Collateral Manager   By: Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

ALM X, LTD. as   a Lender BY: Apollo Credit Management (CLO), LLC, as its collateral manager   By: Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

ALM XI, Ltd. as   a Lender By: Apollo Credit Management (CLO), LLC, as Collateral Manager By:   Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

ALM XII, Ltd.   as a Lender By: Apollo Credit Management (CLO), LLC, as Collateral Manager By:   Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

ALM XIV, LTD.   as a Lender BY: Apollo Credit Management (CLO), LLC, as its collateral   manager By: Name: Joe Moroney Title: Vice President By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

ALM XVI, LTD.   as a Lender by Apollo Credit Management (CLO), LLC, as its collateral manager   By: Name: Joseph Moroney Title: Vice President By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

APOLLO CREDIT   FUNDING I LTD. as a Lender BY: Apollo ST Fund Management LLC As Its   Collateral Manager By: Name: Joe Moroney Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

APOLLO CREDIT   FUNDING III LTD. as a Lender By: Name: Joe Moroney Title: Vice President By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Apollo Credit   Funding IV Ltd. as a Lender By Apollo ST Fund Management, LLC, as its   collateral manager By: Name: Joseph Moroney Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Apollo Credit   Senior Loan Fund, LP as a Lender BY: Apollo Credit Advisors II, LLC, its   general partner By: Name: Joe Moroney Title: Vice President By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Apollo   Investment Corporation as a Lender By: Apollo Investment Management, L.P.,   its Advisor By: ACC Management, LLC, its general partner By: Name: Gregory W.   Hunt Title: Chief Financial Officer By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

Apollo Lincoln Fixed   Income Fund, L.P. as a Lender BY: Apollo Lincoln Fixed Income Management,   LLC, its investment manager By: Name: Joseph Glatt Title: Vice President By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Apollo Senior   Floating Rate Fund Inc. as a Lender BY: Account 631203 By: Name: Joe Moroney   Title: Vice President By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Apollo Tactical   Income Fund Inc as a Lender BY: Account 361722 By: Name: Joe Moroney Title:   Vice President By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

CORNERSTONE CLO   LTD. as a Lender BY: Apollo Debt Advisors LLC, as its Collateral Manager By:   Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

EUR INVESTMENTS   LOAN FUNDING LLC as a Lender By: Citibank, N.A., By: Name: Paul Plank Title:   Director By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Falcon Senior   Loan Fund Ltd. as a Lender BY: Apollo Fund Management LLC As Its Investment   Manager By: Name: Joe Moroney Title: Vice President By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Gulf Stream -   Sextant CLO 2007-1, Ltd. as a Lender BY: Gulf Stream Asset Management LLC As   Collateral Manager By: Name: Joe Moroney Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Gulf Stream -   Compass CLO 2007, Ltd. as a Lender BY: Gulf Stream Asset Management LLC As   Collateral Manager By: Name: Joe Moroney Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

IBM Personal   Pension Plan Trust as a Lender BY: Apollo Fund Management LLC, its Investment   Manager By: Name: Joe Moroney Title: Vice President By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

 

PPF Nominee 2   B.V. as a Lender By: Apollo Credit Management (Senior Loans), LLC, its   Investment Manager By: Name: Joe Moroney Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Rampart CLO   2007 Ltd. as a Lender BY: Apollo Debt Advisors LLC as its Collateral Manager   By: Name: Joe Moroney Title: Authorized Signatory By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Stone Tower CLO   V Ltd. as a Lender BY: Apollo Debt Advisors LLC, As its Collateral Manager   By: Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

STONE TOWER CLO   VI LTD. as a Lender BY: Apollo Debt Advisors LLC, as its Collateral Manager   By: Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

STONE TOWER CLO   VII LTD. as a Lender BY: Apollo Debt Advisors LLC, as its Collateral Manager   By: Name: Joe Moroney Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Teton Funding,   LLC as a Lender By: SunTrust Bank, as manager By: Name: Joshua Lowe Title:   Vice President By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

BANK OF   MONTREAL, as a Lender r(:i IJ By:d:/c t Name: Sue Blazis Title: Managing   Director [Signature Page to Fourth Amendment] 

    

 

Barclays Bank   PLC, as a Lender ne: Ronnie Gle Title: Vice President [Signature Page to   Fourth Amendment] 

    

 

BlackRock   Senior Income Series IV as a Lender BY: BlackRock Financial Management, Inc.,   its Collateral Manager By: Name: Gina Forziati Title: Authorized Signatory   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

BlackRock   Senior Income Series V Limited as a Lender BY: BlackRock Financial   Management, Inc., its Collateral Manager By: Name: Gina Forziati Title:   Authorized Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

BMI CLO I as a   Lender BY: BlackRock Financial Management, Inc., its Investment Manager By:   Name: Gina Forziati Title: Authorized Signatory By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Bluemountain   CLO 2013-3 Ltd. as a Lender BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC. ITS   COLLATERAL MANAGER By: Name: Meghan Fornshell Title: Operations Analyst By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

BlueMountain   CLO 2012-2 Ltd as a Lender BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC, Its   Collateral Manager By: Name: Meghan Fornshell Title: Operations Analyst By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Bluemountain   CLO 2013-2 LTD. as a Lender BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC. ITS   COLLATERAL MANAGER By: Name: Meghan Fornshell Title: Operations Analyst By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Bluemountain   CLO 2013-1 LTD. as a Lender BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC. ITS   COLLATERAL MANAGER By: Name: Meghan Fornshell Title: Operations Analyst By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Bluemountain   CLO 2013-4 Ltd. as a Lender BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC. ITS   COLLATERAL MANAGER By: Name: Meghan Fornshell Title: Operations Analyst By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

BlueMountain   CLO 2015-1 Ltd as a Lender BlueMountain Capital Management, its Collateral   Manager By: Name: Meghan Fornshell Title: Operations Analyst By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

BlueMountain   CLO 2015-2, Ltd. as a Lender By: BlueMountain Capital Management, LLC By:   Name: Meghan Fornshell Title: Operations Analyst By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

BlueMountain   CLO 2015-3 Ltd as a Lender By: Name: Meghan Fornshell Title: Operations   Analyst By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

BlueMountain   CLO II, LTD as a Lender BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC, Its   Collateral Manager By: Name: Meghan Fornshell Title: Operations Analyst By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

BlueMountain   CLO III, LTD as a Lender BY: BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC, Its   Collateral Manager By: Name: Meghan Fornshell Title: Operations Analyst By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

388 Greenwich   Street New York,NY 10013 CITICORP NORTH AMERICA INC, as a Lender [Signature   Page to Fourth Arnendmentl 

    

 

CITIBANK   INTERNATIONAL LIMITED SPAIN BRANCH as a Lender By: Name: Title: ClresSegat Co   Director baJIndustries Regfonar Markets CiU [Signature Page to Fourth   Amendment] 

    

 

Citibank   NA-Secondary Trading Leverage 8 Alt, as a Lender By:_ Name: Title: ------­   [Signature Page to Fourth Amendment] 

    

 

Credit Suisse   AG, Cayman Islands Branch, as a Lender By:_c_k::/ o:::::::::::::::::::--N e:   BILL O'DALY Tttle: AUTHO.RIZED SIGNATOR By: Name: Michaela Kenny Authorized   Signatory Title: [Signature Page to Fourth Amendment] 

    

 

CREDIT SUISSE   LOAN FUNDING LLC d 'fJ asaLender ,_.1=:_-= By: Name: Title: BARRY ZAMORE S   /(j n +ov:J /1vdl1AY(se_d By: : : Michael Wotanowski Authorized Signatory   [Signature Page to Fourth Amendment] 

    

 

AGF Floating   Rate Income Fund as a Lender By: Eaton Vance Management as Portfolio Manager   By: Name: Michael Botthof Title: Vice President By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

DaVinci   Reinsurance Ltd. as a Lender By: Eaton Vance Management as Investment Advisor   By: Name: Michael Botthof Title: Vice President By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Eaton Vance   Bank Loan Fund A Series Trust of Multi Manager Global Investment Trust as a   Lender BY: Eaton Vance Management as Investment Advisor By: Name: Michael   Botthof Title: Vice President By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Eaton Vance CDO   VII PLC as a Lender BY: Eaton Vance Management as Interim Investment Advisor   By: Name: Michael Botthof Title: Vice President By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Eaton Vance CDO   VIII, Ltd. as a Lender BY: Eaton Vance Management as Investment Advisor By:   Name: Michael Botthof Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Eaton Vance CDO   X PLC as a Lender BY: Eaton Vance Management as Investment Advisor By: Name:   Michael Botthof Title: Vice President By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

Eaton Vance CLO   2013-1 LTD. as a Lender BY: Eaton Vance Management Portfolio Manager By:   Name: Michael Botthof Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Eaton Vance CLO   2014-1, Ltd. as a Lender BY: Eaton Vance Management Portfolio Manager By:   Name: Michael Botthof Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Eaton Vance   Floating-Rate Income Plus Fund as a Lender BY: Eaton Vance Management as   Investment Advisor By: Name: Michael Botthof Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Eaton Vance   Floating Rate Portfolio as a Lender BY: Boston Management and Research as   Investment Advisor By: Name: Michael Botthof Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Eaton Vance   Institutional Senior Loan Fund as a Lender BY: Eaton Vance Management as   Investment Advisor By: Name: Michael Botthof Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Eaton Vance   International (Cayman Islands) Floating-Rate Income Portfolio as a Lender BY:   Eaton Vance Management as Investment Advisor By: Name: Michael Botthof Title:   Vice President By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Eaton Vance   Limited Duration Income Fund as a Lender BY: Eaton Vance Management as   Investment Advisor By: Name: Michael Botthof Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Eaton Vance   Senior Floating-Rate Trust as a Lender BY: Eaton Vance Management as   Investment Advisor By: Name: Michael Botthof Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Eaton Vance   Senior Income Trust as a Lender BY: Eaton Vance Management as Investment   Advisor By: Name: Michael Botthof Title: Vice President By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Eaton Vance   Short Duration Diversified Income Fund as a Lender BY: Eaton Vance Management   as Investment Advisor By: Name: Michael Botthof Title: Vice President By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Eaton Vance VT   Floating-Rate Income Fund as a Lender BY: Eaton Vance Management as   Investment Advisor By: Name: Michael Botthof Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Eaton Vance   Floating-Rate Income Trust as a Lender BY: Eaton Vance Management as   Investment Advisor By: Name: Michael Botthof Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Google Inc. as   a Lender BY: Eaton Vance Management as Investment Advisor By: Name: Michael   Botthof Title: Vice President By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

MET Investors   Series Trust -Met/Eaton Vance Floating Rate Portfolio as a Lender BY: Eaton   Vance Management as Investment Sub-Advisor By: Name: Michael Botthof Title:   Vice President By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Pacific Life   Funds-PL Floating Rate Loan Fund as a Lender BY: Eaton Vance Management as   Investment Sub-Advisor By: Name: Michael Botthof Title: Vice President By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Pacific Select   Fund Floating Rate Loan Portfolio as a Lender BY: Eaton Vance Management as   Investment Sub-Advisor By: Name: Michael Botthof Title: Vice President By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Renaissance   Reinsurance Ltd. as a Lender By: Eaton Vance Management as Investment Advisor   By: Name: Michael Botthof Title: Vice President By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Senior Debt   Portfolio as a Lender BY: Boston Management and Research as Investment   Advisor By: Name: Michael Botthof Title: Vice President By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

 

Boston Income   Portfolio, as a Lender /CI..R&Jat. By M" ha Name. ..·· •c. el W.   Weilheimer Vice President Title: [Signature Page to Fourth Amendment] 

    

 

KP Fixed Income   Fund as a Lender BY: Eaton Vance Management as Investment Sub-Advisor By:   Name: Michael Botthof Title: Vice President By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

SHORT DURATION   HIGH INCOME PORTFOLIO, "By':':lLt&JtLL, - Name: Title: M_ichaet w.   Weifheimer Vrce President [Signature Page to Fourth Amendment] 

    

 

Lime Street   CLO, Ltd. as a Lender By: Name: Scott D'Orsi Title: Portfolio Manager By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Advanced Series   Trust - AST FI Pyramis Asset Allocation Portfolio ' n By:Pyramis Global   Advisors LLC as Investment Manager, as a Lender ' By: Name: /Zlc. H W   ,n:.e..-b 0 uz. S"-<:"'.rt_ Title: [Signature Page to Fourth   Amendment] 

    

 

Advanced Series   Trust-AST FI Pyramis Quantitative Portfolio n By: Pyramis Global Advisors LLC   as Investment Manager, as a Lcnde:-/) By: Name: (4u .5'1..-vfC.A-f) Title:\)   !f(.. -v [Signature Page to Fourth Amendment] 

    

 

Fidelity   Advisor Series 1: Fidelity Advisor Floating Rate High Income Fund, as a   Lender By :.. ,... Name: Title: Joe Zambello Deputy Treasurer [Signature Page   to Fourth Amendment] 

    

 

Ballyrock CLO   2013-1 Limited By: Ballyrock Investment Advisors LLC, as Collateral Manager,   as a Lender By:. \,L-'-"-:...::.=. j_jl--fl-'{'1/J%"-'-vf-'-'-Name:   Title: / usaRvmut Agsis an\ Treasurer [Signature Page to Fourth Amendment] 

    

 

Ballyrock CLO   2014-1 Limited By: Ballyrock Investment Advisors LLC, as Collateral Manager,   as a Lender By:.-------f:·-o:4 '--'-L-f&-'-'-'-'-tcS1--"---I Name:   Title: UsaRymut A2sistant Treasurer [Signature Page to Fourth Amendment] 

    

 

Fidelity   Advisor Series I: Fidelity Advisor High Income Fund, as a Lender Joe Zambe!Jo   Deputy Treasurer [Signature Page to Fourth Amendment] 

    

 

Fidelity   Canadian Asset Allocation Fund for Fidelity Investments Canada ULC as Trustee   of Fidelity Canadian Asset Allocation Fund, as a Lender Joe Zambello Deputy   Treasurer Title: [Signature Page to Fourth Amendment] 

    

 

Fidelity   Canadian Balanced Fund for Fidelity Investments Canada ULC as Trustee of   Fidelity Canadian Balanced Fund, as a Lender By: u--Nam-""e::=,----   7::: Jo-e--=-za-m--,-bello Title: Deputy Treasurer [Signature Page to Fourth   Amendment] 

    

 

Fidelity   American High Yield Fund for Fidelity Investments Canada ULC as Trustee of   Fidelity American High Yield Fund, as a Lender Joe Zambello Deputy Treasurer   [Signature Page to Fourth Amendment] 

    

 

Fidelity   Central Investment Portfolios LLC: Fidelity Floating Rate Central Fund, as a   Lender Joe ZambeHo Deputy Treasurer [Signature Page to Fourth Amendment] 

    

 

Fidelity   Central Investment Portfolios LLC: Fidelity High Income Central Fund 1, as a   Lender Joe Zambe/Jo Deputy Treasurer Title: [Signature Page to Fourth   Amendment] 

    

 

Fidelity   Floating Rate High Income Fund for Fidelity Investments Canada ULC as Trustee   of Fidelity Floating Rate High Income Fund, as a Lender By:. T-----Joe   Zambello Deputy Treasurer [Signature Page to Fourth Amendment} 

    

 

Fidelity   Floating Rate High Income Investment Trust for Fidelity Investments Canada   ULC as Trustee of Fidelity Floating Rate High Income Investment Trust, as a   Lender Joe Zambello Deputy Treasurer [Signature Page to Fourth Amendment} 

    

 

Fidelity Funds   SICAVI Fidelity Funds-US High Yield By: Fidelity Management & Research   Company, as sub-advisor, as a Lender Joe Zambel!o Deputy Treasurer [Signature   Page to Fourth Amendment] 

    

 

Fidelity Global   Bond Series - US Dollar Monthly Income By: Fidelity Management & Research   Company, as sub-advisor, ru; a Lender [Signature Page to Fourth Amendment] 

    

 

Fidelity Income   Fund: Fidelity Total Bond Fund, as a Lender Joe Zambello Deputy Treasurer   [Signature Page to Fomth Amendment] 

    

 

Fidelity   Puritan Trust: Fidelity Puritan Fund, as a Lender Joe Zambello Deputy   Treasurer Title: [Signature Page to Fourth Amendment] 

    

 

Fidelity   Qualifying Investor Funds Pic By: Pyramis Global Advisors, LLC as Sub­   a:dvi:sor·, C_? Name::l?fC-tW'I<1 "­ Title: \. ut: ;z [Signature Page   to Fourth Amendment) 

    

 

Fidelity Summer   Street Trust: Fidelity Series Floating Rate High Income Fund, as a Lender Joe   Zambello Deputy Treasurer [Signature Page to Fourth Amendment] 

    

 

Fidelity Summer   Street Trust: Fidelity Short Duration High Income Fund, as a Lender   By:-""'------'""'""""----,---,-Name:   Title: Joe Zambel!o Deputy Treasurer [Signature Page to Fourth Amendment] 

    

 

Fidelity Summer   Street Trust: Fidelity Series High Income Fund, as a Lender Joe Zambello   Deputy Treasurer [Signature Page to Fourth AmendmentJ 

    

 

Fidelity   Central Investment Portfolios LLC: Fidelity High Income Central Fund 2, as a   Lender By:-'-\---;-'""---"'<::-'---,-::--Joe Zambello   Deputy Treasurer [Signature Page to Fourth Amendment] 

    

 

Pyramis High   Yield Bond Commingled Pool By: Pyramis Global Advisors Trust Company as   :Trustee, :· Name: 1<"tu_,_,_o .L 'f-Title: c.ll.-rL.. [Signamre Pnge   to fourth Amendment] 

    

 

Japan Trustee   Services Bank, Ltd. Re: Fidelity High Yield Bond Open Mother Fund By:   Fidelity Management & Research Company as Investment Manager, as a Lender   Joe Zambe!lo Deputy Treasurer [Signature Page to Fourth Amendment] 

    

 

.Japan Trustee   Services Bank, Ltd. Re: Fidelity Strategic Income Fund (Mother) By: Fidelity   Management & Research Company as Investment Manager, as a Lender B ?   ·"= N Title: Joe Zambello DeputyTreasurer [Signature Page to Fourth   Amendment] 

    

 

MY-PGA US High   Yield Fund By: Pyramis GJobal Advisors LLC as Investment Manager, as a Lender   Title:'p r fl" 'YL [Signature Page to Fourth Amendment] 

    

 

Fidelity   Advisor Series 1: Fidelity Advisor High Income Advantage Fund, as a Lender Joe   Zambello Deputy Treasurer [Signature Page to Fourth Amendment] 

    

 

Commonwealth of   Massachusetts Pension Reserves Investment Management Board By: Pyramis Global   Advisors Trust Company as :::-::.Q By: Name: 12/t_f.-l·rnt-'!:::. &tf,...vrz..a.-h,.   Title: trt£. 7L [Signature Page to Fourth Amendment] 

    

 

Pyramis   Floating Rate High Income Commingled Pool c= By: Pyramis Global Advisors   Trust Company as Trustee, as a Lende 0 By:,/C Name: Fu..,.t+r?YLD .¥/   c:-.1'). Title: D r 1z. ,a..... [Signature Page to Fourth Amendment] 

    

 

Pyramis   Leveraged Loan LP By:Pyramis Global Advisors LLC as Investment Manager, : Q N   me: JZt U+-.4-(1...1.. T1tle: Oc.e a-[Signature Page to Fourth Amendment] 

    

 

Fidelity Summer   Street Trust: Fidelity High Income Fund, as a Lender Joe Zambello Deputy   Treasurer [Signature Page to Fourth Amendment] 

    

 

Master Trust   Bank Of Japan Ltd. Rc: Fidelity Us High Yield By: Fidelity Management &   Research Company as Investment Manager, as a Lender Deputy Treasurer   [Signature Page to Fourth Amendment] 

    

 

Variable   Insurance Products Fund: Floating Rate High Income Portfolio, as a Lender Joe   Zambel/o Deputy Treasurer [Signature Page to Fourth Amendment] 

    

 

Variable   Insurance Products Fund: High Income Portfolio, as a Lender Joe Zambello   Deputy Treasurer [Signature Page to Fourth Amendment] 

    

 

FORE CLO LTD.   2007-1, By: as a Lender # By Fore Research & Management, LP Name: Title:   [Signature Page to Fourth Amendment] 

    

 

GOLDMAN SACHS   LENDING PARTNERS LLC, as a Lender By: Name: Rebec atz Title: Authorized   Signatory [Signature Page to Fourth Amendment] 

    

 

WhiteHorse VI,   Ltd. By H.I.G. WhiteHorse Capital, LLC As: Collateral Manager as a Lender   [Signature Page to Fourth Amendment] 

    

 

WhiteHorse   VIII, Ltd. By H.I.G. WhiteHorse Capital, LLC As: Collateral Manager as a   Lender B/d e. Ethan Underwood Title: Authorized Officer [Signature Page to   Fourth Amendment] 

    

 

Watford Re Ltd.   as a Lender By: Highbridge Principal Strategies, LLC, its investment manager   By: Name: Serge Adam Title: Managing Director By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

ZALICO VL   Series Separate Account-2 as a Lender BY: Highbridge Principal Strategies,   LLC as Investment Manager By: Name: Serge Adam Title: Managing Director By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

ZURICH AMERICAN   INSURANCE COMPANY as a Lender By: Highbridge Principal Strategies, LLC as   Investment Manager By: Name: Serge Adam Title: Managing Director By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

HRS Investment   Holdings LLC as a Lender By: .£{..6_, Name: Steve K seta - Title: CIO   [Signature Page to Fourth Amendment] 

    

 

ICE 1: EM CLO   Limited as a Lender By: ICE Canyon LLC, its Collateral Manager By: Name:   Jonathan M. Kaplan Title: Authorized Signatory By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

ICE 3: GLOBAL   CREDIT CLO LIMITED as a Lender BY: ICE CANYON LLC, its Collateral Manager By:   Name: Jonathan M. Kaplan Title: Authorized Signatory By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

ICE Global   Credit CLO Limited as a Lender By: ICE Canyon LLC, its Collateral Manager By:   Name: Jonathan M. Kaplan Title: Authorized Signatory By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

ICE Global   Credit (DCAM) Master Fund Limited as a Lender ICE CANYON LLC, its Investment   Advisor By: Name: Jonathan M. Kaplan Title: Authorized Signatory By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

 

ICE ORYX MASTER   FUND LIMITED as a Lender ICE CANYON LLC, its Investment Advisor By: Name:   Jonathan M. Kaplan Title: Authorized Signatory By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

JPMORGAN CHASE   RETIREMENT PLAN as a Lender By: ICE CANYON LLC, as Investment Manager By:   Name: Jonathan M. Kaplan Title: Authorized Signatory By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

INVESCO HIGH   YIELD FUND, as a Lender By:S ;:::;;::::::::::: ====:::. Name: Tony Title:   Head of Global Research INVESCO V.I. HIGH YIELD FUND, as a Lender Name:   TonyWong Title: Head of Global Research Invesco High Income Trust I , as a   Lender - £ r--Name: TonyWong Title: Head of Global Research [Signature Page   to Fourth Amendment] 

    

 

PowerShares   Senior Loan Portfolio as a Lender BY: Invesco Senior Secured Management, Inc.   as Collateral Manager By: Name: Scott Baskind Title: Authorized Individual   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

JMP Credit   Advisors CLO I LTD, as a Lender [Signature Page to Fourth Amendment] 

    

 

JMP Credit   Advisors CLO II LTD, as a Lender Title: Managing Director [Signature Page to   Fourth Amendment] 

    

 

JMP Credit   Advisors CLO III LTD, as a Lender e: tle: Managing Director [Signature Page   to Fourth Amendment] 

    

 

JPMorgan Chase   Bank, N.A., as a Lender By: / n I NameJ:ina R yter Title: Execut ve Director   (Signature Page to Fourth Amendment] 

    

 

BCBSM, Inc. as   a Lender BY: KKR Its Collateral Manager By: Name: Jeffrey Smith Title:   Authorized Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

HMO Minnesota   as a Lender BY: KKR Its Collateral Manager By: Name: Jeffrey Smith Title:   Authorized Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

KKR CORPORATE   LENDING LLC, as a Lender By: - --Name: W. Cade Thompson / Title: Authori;;;ed   Signatow . / [Signature Page to Fourth Amendment] 

    

 

KKR FINANCIAL   CLO 2005-2, LTD. as a Lender By: Name: Jeffrey Smith Title: Authorized   Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

KKR FINANCIAL   CLO 2007-1, LTD. as a Lender By: Name: Jeffrey Smith Title: Authorized   Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

KKR FINANCIAL   CLO 2011-1, LTD. as a Lender By: Name: Jeffrey Smith Title: Authorized   Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Oregon Public   Employees Retirement Fund as a Lender By: Name: Jeffrey Smith Title: Authorized   Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Manulife   Floating Rate Income Fund as a Lender By: Name: Jim Roth Title: Manager By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Manulife   Floating Rate Senior Loan Fund as a Lender By: Name: Jim Roth Title: Manager   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Manulife   Investments Trust - Floating Rate Income Fund as a Lender By: Name: Jim Roth   Title: Manager By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Manulife U.S.   Dollar Floating Rate Income Fund as a Lender By: Name: Jim Roth Title:   Manager By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

BOWERY FUNDING   ULC as a Lender By: Name: Masood Fikree Title: Authorized Signatory By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Marathon CLO IV   Ltd. as a Lender By: Name: Louis Hanover Title: Authorized Signatory By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Marathon CLO V   Ltd. as a Lender By: Name: Louis Hanover Title: Authorized Signatory By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Marathon CLO   VI, Ltd. as a Lender By: Name: Louis Hanover Title: Authorized Signatory By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Marathon CLO   VIII Ltd. as a Lender By: Name: Louis Hanover Title: Authorized Signatory By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Venture IX CDO,   Limited as a Lender BY: its investment advisor, MJX Asset Management LLC By:   Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Venture V CDO   Limited as a Lender BY: its investment advisor, MJX Asset Management, LLC By:   Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Venture VI CDO   Limited as a Lender BY: its investment advisor, MJX Asset Management, LLC By:   Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Venture VII CDO   Limited as a Lender BY: its investment advisor, MJX Asset Management, LLC By:   Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Venture VIII   CDO, Limited as a Lender BY: its investment advisor, MJX Asset Management,   LLC By: Name: John P. Calaba Title: Portfolio Manager By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Venture XI CLO,   Limited as a Lender BY: its investment advisor, MJX Asset Management, LLC By:   Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

VENTURE XII   CLO, Limited as a Lender BY: its investment advisor MJX Asset Management LLC   By: Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

VENTURE XIII   CLO, Limited as a Lender BY: its Investment Advisor MJX Asset Management LLC   By: Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

VENTURE XIV   CLO, Limited as a Lender By: its investment advisor MJX Asset Management LLC   By: Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

VENTURE XIX   CLO, Limited as a Lender By: its investment advisor MJX Asset Management LLC   By: Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

VENTURE XV CLO,   Limited as a Lender By: its investment advisor MJX Asset Management LLC By:   Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

VENTURE XVI   CLO, Limited as a Lender By: its investment advisor MJX Asset Management LLC   By: Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Venture XVII   CLO Limited as a Lender BY: its investment advisor, MJX Asset Management, LLC   By: Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Venture XVIII   CLO, Limited as a Lender By: its investment advisor MJX Asset Management LLC   By: Name: John P. Calaba Title: Portfolio Manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Venture XXI   CLO, Limited as a Lender By: its investment advisor MJX Asset Management LLC   By: Name: John Calaba Title: Managing Director By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Morgan Stanley   Senior Funding, Inc., as a Lender /;J By:· Nam hael King Title: Vice   President ( [Signature Page to Fourth Amendment] 

    

 

DUANE STREET   CLO II, LTD. By: Napier Park Global Capital (US) LP As Collateral Manager as   a Lender By: 0{(\Al.M-Jl . Name: Melanie Hanlon Title: Director [Signature   Page to Fourth Amendment] 

    

 

Dunham   Corporate/Government Bond Fund as a Lender By: Name: Kyle Jennings Title:   Managing Director By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Dunham Floating   Rate Bond Fund as a Lender By: Name: Kyle Jennings Title: Managing Director   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

SunAmerica   Income Funds - SunAmerica Flexible Credit Fund as a Lender By: Name: Kyle Jennings   Title: Managing Director By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Virtus Balanced   Fund as a Lender By: Name: Kyle Jennings Title: Managing Director By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Virtus Bond   Fund as a Lender By: Name: Kyle Jennings Title: Managing Director By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Virtus Global   Multi Sector Income Fund as a Lender By: Name: Kyle Jennings Title: Managing   Director By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Virtus   Multi-Sector Intermediate Bond Fund f/k/a Virtus Multi Sector Fixed Income   Fund as a Lender By: Name: Kyle Jennings Title: Managing Director By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Virtus Senior   Floating Rate Fund as a Lender By: Name: Kyle Jennings Title: Managing   Director By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Virtus   Strategic Income Fund as a Lender By: Name: Kyle Jennings Title: Managing   Director By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

 

Virtus Tactical   Allocation Fund as a Lender By: Name: Kyle Jennings Title: Managing Director   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Virtus Total   Return Fund as a Lender By: Name: Kyle Jennings Title: Managing Director By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

VVIT: Virtus   Multi-Sector Fixed Income Series as a Lender By: Name: Kyle Jennings Title:   Managing Director By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Nob Hill CLO   Limited as a Lender By: Name: Kyle Jennings Title: Managing Director By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Virtus Emerging   Markets Debt Fund as a Lender By: Name: Kyle Jennings Title: Managing   Director By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Catlin RE   Switzerland LTD, as a Lender Jason Reulet AVP Brown Brothers Harriman &   Co. acting as agent for OppenheimerFunds,Inc. [Signature Page to Fourth   Amendment] 

    

 

Catlin   Underwriling Agencies, as a Lender Jason Reuter AVP Brown Brothers Harriman   & Co. acting as agent for OppenheimerFunds, Inc. [Signature Page to Fotn1h   Amendment] 

    

 

Harbourview CLO   VII, LTO, as a Lender Jason Reuter AVP Brown Brothers Harriman & Co.   acting as agent for Oppenheimerfunds,Inc. [Signature Page to Fourth   Amendment] 

    

 

Oppenheimer   Master Loan Fund, LLC, as a Lender Jason Reuter AVP Brown Brothers Harriman   & Co. acting as agent for OppenheimerFunds, Inc. [Signature Page to   Fourth Amendment] 

    

 

Oppenheimer   Quest for Value Funds for the account of Oppenheimer Flexible Strategies   Fund, as a Lender Jason Reuter AVP Brown Orothers Harriman & Co. acting   as agent for OppenheimerFunds, Inc. [Signature Page to Fom1h Amendment] 

    

 

Jason Reuter   AVP Brown Brothers Harriman & Co. acting as agent for OppenheimerFunds1   Inc. [Signature Page to Fourth Amendment] 

    

 

Oppenheimer   Senior Floating Rate Fund, as a Lender Jason Reuter AVP Brown Brothers   Harriman & Co. acting as agent for OppenheimerFunds, Inc. [Signature Page   to Fomih Amendment] 

    

 

Ascension Alpha   Fund, LLC as a Lender By: Pioneer Institutional Asset Management, Inc. As its   adviser By: Name: maggie begley Title: Vice President and Associate General   Counsel By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Ascension   Health Master Pension Trust as a Lender By: Pioneer Institutional Asset   Management, Inc. As its adviser By: Name: maggie begley Title: Vice President   and Associate General Counsel By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Met Investors   Series Trust - Pioneer Strategic Income Portfolio as a Lender By: Pioneer   Investment Management, Inc. As its adviser By: Name: maggie begley Title:   Vice President and Associate General Counsel By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Multi Sector   Value Bond Fund as a Lender By: Pioneer Institutional Asset Management, Inc.   As its adviser By: Name: Maggie Begley Title: Vice President and Associate   General Counsel By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

MWRD Retirement   Fund as a Lender By: Pioneer Institutional Asset Management, Inc. As its   adviser By: Name: maggie begley Title: Vice President and Associate General   Counsel By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Pioneer Dynamic   Credit Fund as a Lender By: Pioneer Investment Management, Inc. As its   adviser By: Name: maggie begley Title: Vice President and Associate General   Counsel By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Pioneer Floating   Rate Fund as a Lender By: Pioneer Investment Management, Inc. As its adviser   By: Name: maggie begley Title: Vice President and Associate General Counsel   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Pioneer   Floating Rate Trust as a Lender By: Pioneer Investment Management, Inc. As   its adviser By: Name: maggie begley Title: Vice President and Associate   General Counsel By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Pioneer   Institutional Multi-Sector Fixed Income Portfolio as a Lender By: Pioneer   Institutional Asset Management, Inc. As its adviser By: Name: maggie begley   Title: Vice President and Associate General Counsel By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Pioneer   Institutional Solutions - Credit Opportunities as a Lender By: Pioneer   Investment Management, Inc. As its adviser By: Name: maggie begley Title:   Vice President and Associate General Counsel By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Pioneer   Investments Diversified Loans Fund as a Lender By: Name: Margaret C. Begley   Title: Vice President and Associate General Counsel By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Pioneer   Multi-Sector Fixed Income Trust as a Lender By: Pioneer Institutional Asset   Management, Inc. As its adviser By: Name: maggie begley Title: Vice President   and Associate General Counsel By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Pioneer   Solutions SICAV --Global Floating Rate Income as a Lender By: Pioneer   Investment Management, Inc., As its adviser By: Name: Maggie Begley Title:   Vice President and Associate General Counsel By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

By: ::,   -------r+----­ a<liiDALICI.OLTD. Name: Paul P. Malei S,:......laRMfilor,v   o.wp, Inc. Title: Senior Portfolio Manager dleCoiiMcrltMaepr [Signature Page   to Fourth Amendment] 

    

 

Benefit Street   Partners CLO II, Ltd. as a Lender By: Name: Todd Marsh Title: Authorized   Signer By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Dryden 30   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden 31   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden 33   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden 34   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden 36   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden 37 Senior   Loan Fund, as a Lender By: Prudential Investment Management, Inc., as Collate   al Manager [Signature Page to Fourth Amendment] 

    

 

Dryden 38   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden 40   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden XI -   Leveraged Loan CDO 2006, as a Lender By: Prudential Investment Management,   Inc., as Collateral Manager Lemanowicz Vice President [Signature Page to   Fourth Amendment] 

    

 

Dryden XVI -   Leveraged Loan CDO 2006, as a Lender By: Prudential Investment Management,   Inc., as Collateral Manager Lemanowicz Vice President [Signature Page to   Fourth Amendment] 

    

 

Dryden XXII   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager anowtcz sident [Signature Page to Fourth Amendment] 

    

 

Dryden XXIII   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden XXIV   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden XXV   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as Collateral   Manager Joseph Lemanowicz Vice President [Signature Page to Fourth Amendment]   

    

 

Dryden XXVI   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Dryden XXVIII   Senior Loan Fund, as a Lender By: Prudential Investment Management, Inc., as   Collateral Manager [Signature Page to Fourth Amendment] 

    

 

Pramerica   Global Loan Opportunities Limited, as a Lender By: Pramerica Investment   Management, a trading name of Prudential Investment Management, Inc. as Inve   tment Manager [Signature Page to Fourth Amendment] 

    

 

Prudential Bank   Loan Fund of the Prudential Trust Company Collective Trust, as a Lender By:   Prudential Investment Management, Inc., as Investment Advisor [Signature Page   to Fourth Amendment] 

    

 

Prudential   Global Short Duration High Yield Fund, Inc., as a Lender By: Prudential   Investment Management, Inc., as Investment Advisor [Signature Page to Fourth   Amendment] 

    

 

Prudential   Investment Portfolios, Inc. 14 - Prudential Floating Rate Income Fund, as a   Lender By: Prudential Investment Management, Inc., as Investment Advisor   [Signature Page to Fourth Amendment] 

    

 

Anthem, Inc. as   a Lender By: Sankaty Advisors, LLC as Investment Manager By: Name: Andrew   Viens Title: Executive Vice President By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

Aon Hewitt   Group Trust - High Yield Plus Bond Fund as a Lender By: Sankaty Advisors, LLC   as Manager By: Name: Andrew Viens Title: Sr. Vice President of Operations By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

AVAW Loans   Sankaty z.H. Internationale Kapitalanlagegesellschaft mbH as a Lender BY:   Sankaty Advisors, LLC as Fund Manager By: Name: Andrew Viens Title: Sr. Vice   President of Operations By: Name: Title: [Signature Page to Fourth Amendment]   

    

 

 

Avery Point II   CLO, Limited as a Lender BY: Sankaty Advisors, LLC, as Portfolio Manager By:   Name: Andrew S. Viens Title: Sr. Vice President of Operations By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Avery Point III   CLO, Limited as a Lender BY: Sankaty Advisors, LLC, as Portfolio Manager By:   Name: Andrew S. Viens Title: Sr. Vice President of Operations By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Avery Point IV   CLO, Limited as a Lender BY: Sankaty Advisors, LLC, as Portfolio Manager By:   Name: Andrew Viens Title: Sr. Vice President of Operations By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Avery Point V   CLO, Limited as a Lender BY: Sankaty Advisors, LLC, as Portfolio Manager By:   Name: Andrew Viens Title: Document Control Team By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Avery Point VI   CLO, Limited as a Lender By: Sankaty Advisors, LLC, as Warehouse Collateral   Manager By: Name: Andrew Viens Title: Document Control Team By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Blue Cross of   California as a Lender BY: Sankaty Advisors, LLC, as Investment Manager By:   Name: Andrew Viens Title: Sr. Vice President of Operations By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Catholic Health   Initiatives Master Trust as a Lender BY: Sankaty Advisors, LLC as Investment   Adviser and Manager By: Name: Andrew Viens Title: Sr. Vice President of   Operations By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

CHI Operating   Investment Program L.P. as a Lender BY: Sankaty Advisors, LLC, as Investment   Adviser and Manager By: Name: Andrew Viens Title: Sr. Vice President of   Operations By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Community   Insurance Company as a Lender BY: Sankaty Advisors LLC, as Investment Manager   By: Name: Andrew S. Viens Title: Sr. Vice President of Operations By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

FirstEnergy   System Master Retirement Trust as a Lender By: Sankaty Advisors, LLC as   Investment Adviser and Manager By: Name: Andrew Viens Title: Sr. Vice   President of Operations By: Name: Title: [Signature Page to Fourth Amendment]   

    

 

Future Fund   Board of Guardians as a Lender BY: Sankaty Advisors, LLC, as Investment   Manager By: Name: Andrew S. Viens Title: Sr. Vice President of Operations By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Google Inc. as   a Lender By: Sankaty Advisors, LLC as Investment Adviser and Manager By:   Name: Andrew Viens Title: Sr. Vice President of Operations By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Kaiser   Foundation Hospitals as a Lender BY: Sankaty Advisors, LLC, as Investment   Adviser and Manager By: Name: Andrew Viens Title: Sr. Vice President of   Operations By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Kaiser   Permanente Group Trust as a Lender By Sankaty Advisors, LLC, as Investment   Adviser and Manager By: Name: Andrew Viens Title: Sr. Vice President of   Operations By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Los Angeles County   Employees Retirement Association as a Lender BY: Sankaty Advisors, LLC as   Manager By: Name: Andrew S. Viens Title: Sr. Vice President of Operations By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Qantas   Superannuation Plan as a Lender BY: Sankaty Advisors, LLC as Investment   Manager By: Name: Andrew S. Viens Title: Sr. Vice President of Operations By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Race Point IX   CLO, Limited as a Lender By: Sankaty Advisors, LLC as Portfolio Manager By:   Name: Andrew Viens Title: Document Control Team By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Race Point V   CLO, Limited as a Lender BY: Sankaty Advisors LLC, as Portfolio Manager By:   Name: Andrew S. Viens Title: Sr. Vice President of Operations By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Race Point VI   CLO, Limited as a Lender By: Sankaty Advisors, LLC, as Portfolio Manager By:   Name: Andrew Viens Title: Sr. Vice President of Operations By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Race Point VII   CLO, Limited as a Lender By: Sankaty Advisors, LLC as Portfolio Manager By:   Name: Andrew Viens Title: Sr. Vice President of Operations By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Race Point VIII   CLO, Limited as a Lender BY: Sankaty Advisors, LLC as Portfolio Manager By:   Name: Andrew Viens Title: Sr. Vice President of Operations By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

San Francisco   City and County Employees' Retirement System as a Lender BY: Sankaty   Advisors, LLC, as Investment Manager By: Name: Andrew Viens Title: Sr. Vice   President of Operations By: Name: Title: [Signature Page to Fourth Amendment]   

    

 

Sankaty High   Income Partnership, L.P. as a Lender By: Name: Andrew S. Viens Title: Sr.   Vice President of Operations By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Sankaty Managed   Account (PSERS), L.P. as a Lender By: Name: Andrew S. Viens Title: Sr. Vice   President of Operations By: Name: Title: [Signature Page to Fourth Amendment]   

    

 

Sankaty Managed   Account (TCCC), L.P. as a Lender By: Name: Andrew Viens Title: Sr. Vice   President of Operations By: Name: Title: [Signature Page to Fourth Amendment]   

    

 

Sankaty Rio   Grande FMC, L.P. as a Lender By: Name: Andrew Viens Title: Sr. Vice President   of Operations By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Sankaty Senior   Loan Fund (SRI), L.P. as a Lender By: Name: Andrew Viens Title: Sr. Vice   President of Operations By: Name: Title: [Signature Page to Fourth Amendment]   

    

 

Sankaty Senior   Loan Fund Public Limited Company as a Lender By: Sankaty Advisors, LLC, as   Investment Manager By: Name: Andrew S. Viens Title: Sr. Vice President of   Operations By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Sankaty Senior   Loan Fund, L.P. as a Lender By: Name: Andrew S. Viens Title: Sr. Vice   President of Operations By: Name: Title: [Signature Page to Fourth Amendment]   

    

 

Sears Holdings   Pension Trust as a Lender By: Sankaty Advisors, LLC as Investment Manager By:   Name: Andrew Viens Title: Document Control Team By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Sunsuper Pooled   Superannuation Trust as a Lender By: Sankaty Advisors, LLC, Manager By: Name:   Andrew Viens Title: Sr. Vice President of Operations By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Suzuka INKA as   a Lender By: Sankaty Advisors, LLC, as Fund Manager By: Name: Andrew Viens   Title: Sr. Vice President of Operations By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

RBS Pension   Trustee Limited as Trustee to The Royal Bank of Scotland Group Pension Fund   as a Lender BY: Sankaty Advisors, LLC, as Investment Manager By: Name: Andrew   Viens Title: Sr. Vice President of Operations By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

GLG Ore Hill   CLO 2013-1, LTD. as a Lender By: Name: Aaron Meyer Title: Principal By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Strategic Value   Master Fund, Ltd. By: Strategic Value Partners, LLC Its Investment Manager,   as a Lender By: a Nmy( Title: James Do lY"-u6'"'rty Fund Chief   FinanciaJ OITar [Signature Page to Fourth Amendment] 

    

 

Nuveen Credit   Strategies Income Fund as a Lender BY: Symphony Asset Management LLC By:   Name: scott caraher Title: portfolio manager By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Nuveen Floating   Rate Income Fund as a Lender BY: Symphony Asset Management LLC By: Name:   scott caraher Title: portfolio manager By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

Nuveen Floating   Rate Income Opportunity Fund as a Lender BY: Symphony Asset Management LLC   By: Name: scott caraher Title: portfolio manager By: Name: Title: [Signature   Page to Fourth Amendment] 

    

 

Nuveen Senior   Income Fund as a Lender BY: Symphony Asset Management LLC By: Name: scott   caraher Title: portfolio manager By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Nuveen Short   Duration Credit Opportunities Fund as a Lender BY: Symphony Asset Management   LLC By: Name: scott caraher Title: portfolio manager By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Nuveen Symphony   Credit Opportunities Fund as a Lender BY: Symphony Asset Management LLC By:   Name: scott caraher Title: portfolio manager By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Nuveen Symphony   Floating Rate Income Fund as a Lender BY: Symphony Asset Management LLC By:   Name: scott caraher Title: portfolio manager By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Principal Funds   Inc, - Diversified Real Asset Fund as a Lender BY: Symphony Asset Management   LLC By: Name: scott caraher Title: portfolio manager By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

SSF Trust as a   Lender BY: Symphony Asset Management LLC By: Name: scott caraher Title:   portfolio manager By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Symphony CLO   III, LTD. as a Lender BY: Symphony Asset Management LLC By: Name: scott   caraher Title: portfolio manager By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Symphony CLO IV   LTD. as a Lender BY: Symphony Asset Management LLC By: Name: scott caraher   Title: portfolio manager By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Symphony CLO   IX, Limited Partnership as a Lender BY: Symphony Asset Management LLC By:   Name: scott caraher Title: portfolio manager By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Symphony CLO   VII, LTD as a Lender BY: Symphony Asset Management LLC By: Name: scott   caraher Title: portfolio manager By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Symphony CLO   VIII, Limited Partnership as a Lender BY: Symphony Asset Management LLC By:   Name: scott caraher Title: portfolio manager By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Symphony CLO   XI, Limited Partnership as a Lender BY: Symphony Asset Management LLC By:   Name: scott caraher Title: portfolio manager By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

 

Symphony CLO   XII, Ltd as a Lender By: Symphony Asset Management LLC By: Name: scott   caraher Title: portfolio manager By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

ACE American   Insurance Company as a Lender BY: T. Rowe Price Associates, Inc. as   investment advisor By: Name: Brian Burns Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

John Hancock   Funds II - Spectrum Income Fund as a Lender BY: T. Rowe Price Associates,   Inc. as investment sub-advisor By: Name: Brian Burns Title: Vice President   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

T. Rowe Price   Fixed Income Trust as a Lender By: T. Rowe Price Trust Company, Trustee By:   Name: Brian Burns Title: Vice President By: Name: Title: [Signature Page to   Fourth Amendment] 

    

 

T. Rowe Price   Floating Rate Fund, Inc. as a Lender By: Name: Brian Burns Title: Vice   President By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

T. Rowe Price   Floating Rate Multi-Sector Account Portfolio as a Lender By: Name: Brian   Burns Title: Vice President By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

T. Rowe Price   Funds Series II SICAV as a Lender By: T. Rowe Price Associates, Inc., as   investment sub-manager of the T. Rowe Price Funds Series II SICAV - Credit   Opportunities Fund By: Name: Brian Burns Title: Vice President By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

T. Rowe Price   Institutional High Yield Fund as a Lender By: Name: Brian Burns Title: Vice   President By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

T. Rowe Price   U.S. High Yield Trust as a Lender By: Name: Brian Burns Title: Vice President   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

T. Rowe Price   High Yield Fund, Inc. as a Lender By: Name: Brian Burns Title: Vice President   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

T. Rowe Price   Institutional Floating Rate Fund as a Lender By: Name: Brian Burns Title:   Vice President By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Figueroa CLO   2013-1, Ltd. as a Lender BY: TCW Asset Management Company as Investment   Manager By: Name: Bibi Khan Title: Managing Director By: Name: Nora Olan   Title: Senior Vice President [Signature Page to Fourth Amendment] 

    

 

FIGUEROA CLO   2013-2, LTD as a Lender BY: TCW Asset Management Company as Investment   Manager By: Name: Bibi Khan Title: Managing Director By: Name: Nora Olan   Title: Senior Vice President [Signature Page to Fourth Amendment] 

    

 

Figueroa CLO   2014-1, Ltd. as a Lender BY: TCW Asset Management Company Manager as   Investment By: Name: Bibi Khan Title: Managing Director By: Name: Nora Olan   Title: Senior Vice President [Signature Page to Fourth Amendment] 

    

 

Metropolitan   West Floating Rate Income Fund as a Lender BY: Metropolitan West Asset   Management as Investment Manager By: Name: Bibi Khan Title: Managing Director   By: Name: Nora Olan Title: Senior Vice President [Signature Page to Fourth   Amendment] 

    

 

Arlington   County Employees' Retirement System, as a Lender By-.-,... Name: Jason Bra   Title: VP/rftn/PM l [Signature Page to Fourth Amendment] 

    

 

Delaware Public   Employees' Retirement Fund, as a Lender [Signature Page to Fourth Amendment] 

    

 

Thornburg   Investment Income Builder Fund, as a Lend By: _ +--+--Title: VPl ./PM Name:   JB.r d y [Signature Page to Fourth Amendment] 

    

 

Thornburg   Strategic Income Fund, Basya 6e n b/ Name: Jason I}:Irady Title: VP/MDjPM l   [Signature Page to Fourth Amendment] 

    

 

KIL Loan   Funding, LLC as a Lender By: Citibank N.A. By: Name: Tina Tran Title:   Director By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Kilimanjaro   Credit Fund, L.P. as a Lender By: Kilimanjaro Advisors, LLC as Investment   Manager By: Name: Tina Tran Title: Director By: Name: Title: [Signature Page   to Fourth Amendment] 

    

 

Wellfleet CLO   2015-1, Ltd. as a Lender By: Name: Scott McKay Title: Portfolio Manager By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Wells Fargo   Principal Lending LLC, as a Lender Name: Michael Sou Title: VP Signature Page   to Fourth Amendment 

    

 

1199 SEIU   Health Care Employees Pension Fund as a Lender By: Name: Joanne Dy Title:   Authorized Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Allegheny   Technologies Incorporated Master Pension Trust as a Lender BY: Western Asset   Management Company as Investment Manager and Agent By: Name: Joanne Dy Title:   Authorized Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Bill and   Melinda Gates Foundation as a Lender BY: Western Asset Management Company as   Investment Manager and Agent By: Name: Joanne Dy Title: Authorized Signatory   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

California   State Teachers' Retirement System as a Lender BY: Western Asset Management   Company as Investment Manager and Agent By: Name: Joanne Dy Title: Authorized   Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Employees'   Retirement System of the State of Rhode Island as a Lender BY: Western Asset   Management Company as Investment Manager and Agent By: Name: Joanne Dy Title:   Authorized Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

John Hancock Fund   II Floating Rate Income Fund as a Lender BY: Western Asset Management Company   as Investment Manager and Agent By: Name: Joanne Dy Title: Authorized   Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Legg Mason   Western Asset Senior Loans Fund as a Lender BY: Western Asset Management   Company as Investment Manager and Agent By: Name: Joanne Dy Title: Authorized   Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

LMP Corporate   Loan Fund, Inc. as a Lender BY: Western Asset Management Company as   Investment Manager and Agent By: Name: Joanne Dy Title: Authorized Signatory   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Mountain Hawk   II CLO, LTD. as a Lender By: Name: Joanne Dy Title: Authorized Signatory By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

Mountain Hawk I   CLO, LTD. as a Lender BY: Western Asset Management Company as Investment   Manager and Agent By: Name: Joanne Dy Title: Authorized Signatory By: Name:   Title: [Signature Page to Fourth Amendment] 

    

 

Mountain Hawk   III CLO, Ltd. as a Lender By: Name: Joanne Dy Title: Authorized Signatory By:   Name: Title: [Signature Page to Fourth Amendment] 

    

 

MultiMix   Wholesale Diversified Fixed Interest Trust as a Lender BY: Western Asset   Management Company as Investment Manager and Agent By: Name: Joanne Dy Title:   Authorized Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Shell Pension   Trust as a Lender BY: Western Asset Management Company as Investment Manager   and Agent By: Name: Joanne Dy Title: Authorized Signatory By: Name: Title:   [Signature Page to Fourth Amendment] 

    

 

Employees'   Retirement System of the State of Hawaii as a Lender By: Name: Joanne Dy   Title: Authorized Signatory By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Western Asset   Bank Loan (Multi-Currency) Master Fund as a Lender BY: Western Asset   Management Company as Investment Manager and Agent By: Name: Joanne Dy Title:   Authorized Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Western Asset   Bank Loan (Offshore) Fund as a Lender By: Name: Joanne Dy Title: Authorized   Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Western Asset   Funds, Inc. - Western Asset Core Plus Bond Portfolio as a Lender BY: Western   Asset Management Company as Investment Manager and Agent By: Name: Joanne Dy   Title: Authorized Signatory By: Name: Title: [Signature Page to Fourth   Amendment] 

    

 

Western Asset   Floating Rate High Income Fund, LLC as a Lender BY: Western Asset Management   Company as Investment Manager and Agent By: Name: Joanne Dy Title: Authorized   Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Western Asset   Trichrome Fund as a Lender By: Name: Joanne Dy Title: Authorized Signatory   By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

Western Asset   U.S. Bank Loan (Offshore) Fund as a Lender By: Name: Joanne Dy Title:   Authorized Signatory By: Name: Title: [Signature Page to Fourth Amendment] 

    

 

 

Annex I

 

Schedule 1.1(c)

 

	
Revolving Credit Lender
    	
 
    	
Series 2016 U.S. Revolving
   Credit Commitments
    	
 
    	
Series 2016 Spanish Revolving
   Credit Commitments
    	
 
    
	
Barclays Bank   PLC (New York Branch)
    	
 
    	
$
    	
51,785,714.29
    	
 
    	
$
    	
20,714,285.71
    	
 
    
	
Credit Suisse AG   Cayman Islands Branch
    	
 
    	
$
    	
35,714,285.71
    	
 
    	
$
    	
14,285,714.29
    	
 
    
	
Morgan Stanley   Senior Funding Inc.
    	
 
    	
$
    	
51,785,714.29
    	
 
    	
$
    	
20,714,285.71
    	
 
    
	
JPMorgan Chase   Bank, NA
    	
 
    	
$
    	
33,928,571.43
    	
 
    	
$
    	
13,571,428.57
    	
 
    
	
Bank of Montreal
    	
 
    	
$
    	
22,142,857.14
    	
 
    	
$
    	
8,857,142.86
    	
 
    
	
Citicorp North   America Inc. - Originations
    	
 
    	
$
    	
17,857,142.86
    	
 
    	
$
    	
0.00
    	
 
    
	
Citibank   International Limited Spain Branch
    	
 
    	
$
    	
0.00
    	
 
    	
$
    	
7,142,857.14
    	
 
    
	
KKR Corporate   Lending LLC
    	
 
    	
$
    	
12,142,857.14
    	
 
    	
$
    	
4,857,142.86
    	
 
    
	
Goldman Sachs   Lending Partners LLC
    	
 
    	
$
    	
8,571,428.57
    	
 
    	
$
    	
3,428,571.43
    	
 
    
	
Credit Suisse Loan   Funding LLC
    	
 
    	
$
    	
16,071,428.57
    	
 
    	
$
    	
6,428,571.43
    	
 
    
	
Total:
    	
 
    	
$
    	
250,000,000.00
    	
 
    	
$
    	
100,000,000.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00251-of-00352.parquet"}]]