Document:

dynr_ex101

  Exhibit 10.1

 

DYNARESOURCE, INC.

 

NOTE PURCHASE AGREEMENT

 

This
NOTE
PURCHASE AGREEMENT (this “Agreement”) is made as of May ___,
2020, by and among DynaResource, Inc., a Delaware corporation (the
“Company”),
Golden Post Rail, LLC, a Texas limited liability company (the
“Lead Purchaser”), and the other parties
listed on Exhibit A
hereto (each, including the Lead Purchaser, a “Purchaser,” and, collectively, the
“Purchasers”).

 

RECITALS

 

A.           The
Company desires to issue and sell convertible promissory notes, in
substantially the form attached to this Agreement as Exhibit B (each, a
“Note,” and,
collectively, the “Notes”) in an aggregate amount of
up to $3,900,000, which shall be convertible on the terms stated
therein into equity securities of the Company.

 

B.           To
induce the Lead Purchaser to serve as the lead investor, the
Company desires to issue and sell to Lead Purchaser that certain
warrant, in substantially the form attached to this Agreement as
Exhibit C-1 (the
“GP Warrant”),
which shall be exercisable on the terms stated therein for Common
Stock (as defined therein) of the Company.

 

C.           To
induce the Purchasers (other than the Lead Purchaser) (the
“Remaining
Purchasers”), the Company desires to issue and sell to
each of the Remaining Purchasers a warrant, in substantially the
form attached to this Agreement as Exhibit C-2 (collectively, the
“Remaining
Warrants,” and together with the GP Warrant, the
“Warrants”),
which shall be exercisable on the terms stated therein for Common
Stock of the Company

 

D.           The
Notes and the Warrants and the equity securities issuable upon
conversion and/or exercise thereof (and the securities issuable
upon conversion and/or exercise of such equity securities) are
collectively referred to herein as the “Securities”.

 

AGREEMENT

 

In
consideration of the mutual promises contained herein and other
good and valuable consideration, receipt of which is hereby
acknowledged, the parties to this Agreement agree as
follows:

 

1. Purchase and Sale
of the Notes and the Warrants.

 

1.1 Sale and Issuance
of the Notes. Subject to the terms and conditions of this
Agreement, at the Closing (as defined below), each Purchaser agrees
to purchase, and the Company agrees to issue and sell to such
Purchaser, a Note in the aggregate principal amount set forth
opposite such Purchaser’s name on Exhibit A. The purchase price
for each Note shall be equal to 100% of the principal amount of
such Note.

 

1.2 Sale
and Issuance of the Warrants. Subject to the terms and
conditions of this Agreement, at the Closing (as defined below),
(i) Lead Purchaser agrees to purchase, and the Company agrees to
issue and sell to Lead Purchaser, the GP Warrant, to be exercised
for the shares set forth opposite the Lead Purchaser’s name
on Exhibit A, and
(ii) each of the Remaining Purchasers agrees to purchase, and the
Company agrees to issue and sell to such Remaining Purchasers, the
Remaining Warrants to be exercised for the shares set forth
opposite such Remaining Purchaser’s name on Exhibit A.

 

1.3 Closing;
Delivery.

 

(a) The purchase and sale of the Notes and the
Warrants shall take place remotely via the exchange of documents
and signatures on the date of this Agreement or at such other time
and place as the Company and the Lead Purchaser may mutually agree
upon, orally or in writing (which time and date are designated as
the “Closing”).

 

 

 

 

(b) At
the Closing, the Company shall deliver to (i) each Purchaser
participating in the Closing the Note to be purchased by such
Purchaser against (A) payment of the purchase price therefor by
wire transfer to a bank account designated by the Company, and (B)
delivery of counterpart signature pages to the Transaction
Documents (as defined below), (ii) the Lead Purchaser, the GP
Warrant, and (iii) the Remaining Purchasers, the Remaining
Warrants; provided,
that, in the case of the immediately preceding clause (i), to the
extent a Purchaser has delivered payment of the purchase
price set forth opposite such Purchaser’s name on
Exhibit A
prior to the date hereof (the
“Funding Date”), the Company shall deliver to Purchaser,
at the Closing, the Note purchased by such Purchaser against such
Purchaser’s delivery of counterpart signature pages to the
Transaction Documents (as defined below).

 

(c) The
Company may not issue any additional Notes and/or Warrants
following the Closing unless such issuance is approved in advance
by the Lead Purchaser.

 

1.4 Closing
Deliverables. At the Closing, the Company shall deliver, or
cause to be delivered:

 

(a) to the Lead
Purchaser, evidence that the Series D Preferred Stock Certificate
of Designation, setting forth the rights, preferences, privileges
and obligations of the Series D Preferred Stock, has been duly
filed with the Secretary of State of Delaware;

 

(b) to the Lead
Purchaser, an amendment to the Common Stock Purchase Warrant,
issued to Lead Purchaser on June 30, 2015, extending the maturity
date therein for an additional two (2) years and adding an equity
cap in respect of the exercise of the Common Stock Purchase Warrant
into Common Stock of the Company, duly executed by the Company and
effective as of the Closing;1

 

(c) to the Lead
Purchaser, that certain Pledge Agreement, dated as of the date
hereof, by and among the Company, Lead Purchaser and Koy W.
Diepholz (“K.D. Diepholz”) (the “Pledge
Agreement”), duly executed by the Company and K.D.
Diepholz and effective as of the Closing;

 

(d) to the Lead
Purchaser, evidence that a first priority security interest in the
Collateral (as defined in the Pledge Agreement) has been created
and perfected in favor of the Lead Purchaser or its designee, in
the manner contemplated by the Pledge Agreement, effective as of
the Closing;

 

(e) to the Lead
Purchaser, an amendment to the Registration Rights Agreement, dated
June 30, 2015, between the Company and Lead Purchaser, duly
executed by the Company, granting to Lead Purchaser customary
registration rights effective as of the Closing;

 

(f) to the Lead Purchaser, a Satisfaction of
Note and Release, dated effective at least one day prior to the
Initial Closing, between the Company and Equity Trust Company
Custodian FBO Michael F. Fadell/Acct. # Z136793, duly executed by
the parties thereto;

 

(g) to the Lead
Purchaser, (i) evidence reasonably satisfactory to the Lead
Purchaser of payment of the amounts set forth on the Draw Summary
to the extent such amounts were paid in full by the Company prior
to the Closing, and (ii) copies of invoices and other similar
documentation evidencing the amounts set forth on the Draw Summary,
including the name of the payee and the purpose of such payment;
and

 

(h) such other
documents reasonably requested by the Lead Purchaser.

 

1.5 Transaction
Documents. Each Purchaser understands and agrees that the
conversion of the Note(s) and the exercise of the Warrant(s) held
by such Purchaser into equity securities of the Company will
require such Purchaser’s execution of certain agreements
relating to the purchase and sale of such securities as well as any
rights relating to such equity securities; provided, however, that the obligation of
each Purchaser to enter into any such agreements shall be subject
to such agreements containing only terms which are reasonable and
customary for the type of investment or exercise being conducted by
such Purchaser; provided, further, that such documents
have customary exceptions to any drag-along applicable to such
Purchaser, including, without limitation, limited representations
and warranties and limited liability and indemnification
obligations on the part of such Purchaser. Each Purchaser’s
rights, preferences and privileges, and any obligations to which it
may be bound, under any such agreement to which it becomes a party
shall be no less favorable than those granted to any other current
or prospective stockholder of the Company thereunder having the
same class or series of securities held by such
Purchaser.

 ____________________________

  1 NTD: Warrant
for 2,306 shares of Common Stock to be issued to GPR and dated
effective prior to the funding and closing of this transaction.
Certificate of Increase to be filed by the Company prior to the
date hereof and issuance of 1,771 shares of Series C Preferred to
GPR to be effective prior to the date hereof.

 

 

 

 

1.6 Use of
Proceeds. The Company will use the proceeds from the sale of
the Notes and the GP Warrant to GPR (a) first, to satisfy any
payables of the Company that are set forth in the summary attached
hereto as Exhibit E
(the “Draw
Summary”) to the extent due and outstanding as of the
date hereof (it being understood that no payables set forth in the
Draw Summary relate to payables outstanding under any convertible
promissory notes and/or debt securities of the
Company),2 and (b) second, to the extent there are
any funds then remaining, for the expansion of Tres Amigos, subject
to the terms and conditions outlined in the Draw Request approved
by the Lead Purchaser in accordance with the Note and in accordance
with the budget attached hereto as Exhibit D. The Company agrees
that, until such time as the Notes and the GP Warrant are no longer
outstanding, without the prior written consent of the Lead
Purchaser, it will not use any such proceeds (i) to redeem,
repurchase or otherwise acquire, or to make any distributions in
respect of, any of the Company’s securities, (ii) to repay or
otherwise satisfy any indebtedness of the Company (other than to
the extent set forth on Exhibit G attached hereto), or
(iii) for any personal, family, or household purpose. With respect
to the convertible promissory note set forth on Exhibit G attached hereto, the
Company shall, prior to December 31, 2020, repay such convertible
promissory note in full and deliver to the Lead Purchaser a
Satisfaction of Note and Release, in form and substance reasonably
acceptable to Lead Purchaser, duly executed by the Company and the
holder of such convertible promissory note.

 

1.7 Issuance of
Securities. The
Company has reserved from its unissued shares of Series D Preferred
Stock and Common Stock for issuance and delivery upon the
conversion of the Notes, conversion of the Series D Preferred Stock
underlying the Notes and/or the exercise of the Warrants, such
number of shares of Series D Preferred Stock and Common Stock for
issuance upon any such conversion and/or exercise, and agrees to
take such steps necessary to amend its certificate of incorporation
to provide sufficient authorized numbers of shares of Series D
Preferred Stock and Common Stock issuable upon the conversion of
the Notes, conversion of the Series D Preferred Stock underlying
the Notes and/or exercise of the Warrants, subject to the rights of
its stockholders. All such shares shall be duly authorized, and
when issued upon any such conversion and/or exercise, shall be
validly issued, fully paid and non-assessable, free and clear of
all liens, security interests, charges and other encumbrances or
restrictions on sale and free and clear of all preemptive rights,
except encumbrances or restrictions arising under federal or state
securities laws.

 

2. Representations,
Warranties and Covenants of the Company. The Company hereby represents and
warrants to each Purchaser, except, in each case, as set forth on
the Disclosure Schedule to this Agreement, attached as Exhibit F to this Agreement,
which exceptions shall be deemed to be part of the representations
and warranties made hereunder, which representations and warranties
are made as of each Closing (unless otherwise specified therein),
that:

 

2.1 Organization, Good
Standing and Qualification. The Company is a corporation duly
organized, validly existing and in good standing under the laws of
the State of Delaware and has all requisite corporate power and
authority to carry on its business as presently conducted. The
Company is duly qualified to transact business and is in good
standing in each jurisdiction in which the failure to so qualify
would have a material adverse effect on the business, assets
(including intangible assets), liabilities, financial condition,
property or results of
operations of the Company.

 

2.2 Authorization.
The Company has all requisite corporate power and authority to
execute and deliver this Agreement, to sell and issue the Notes and
the Warrants hereunder, and to carry out and perform its
obligations hereunder and thereunder. All corporate action on the
part of the Company, its directors and stockholders necessary for
the authorization, execution, delivery and performance of this
Agreement, the Warrants and the Notes by the Company, has been
taken. This Agreement, the Notes, the Warrants, the Pledge
Agreement and the Side Letter by and between the Company and the
Lead Purchaser (collectively, the “Transaction Documents”), when
executed and delivered by the Company, will constitute the legal,
valid and binding obligations of the Company, enforceable against
the Company in accordance with their respective terms, except as
limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance and other laws of general
application affecting enforcement of creditors’ rights
generally and as limited by laws relating to the availability of
specific performance, injunctive relief or other equitable
remedies.

 

2.3 Capitalization.

 

(a) The authorized
capital stock of the Company consists, immediately prior to the
Closing, of: (i) 25,000,000 shares of Common Stock, par value $0.01
per share (“Common
Stock”), of which 17,722,825 shares of Common Stock
are issued and outstanding, and (ii) 20,001,000 shares of Preferred
Stock, par value $0.0001 per share (“Preferred Stock”), of which 1,000
shares of Preferred Stock are designated Series A Preferred Stock,
all of which are issued and outstanding, 1,734,992 shares of
Preferred Stock are designated Series C Senior Convertible
Preferred Stock, all of which are issued and outstanding, and
3,000,000 shares of Preferred Stock are designated Series D Senior
Convertible Preferred Stock, none of which have been issued and
outstanding. All of the outstanding shares of Preferred Stock have
been duly authorized, are fully paid and nonassessable and were
issued in compliance with all applicable federal and state
securities laws.

 

(b) Except as described
above and in Schedule
2.3(b) of the Disclosure Schedule, there are no outstanding
options, warrants, rights (including conversion or preemptive
rights and rights of first refusal or similar rights) or
agreements, orally or in writing, for the purchase or acquisition
from the Company of any shares of Common Stock, Preferred Stock or
any securities convertible into or exchangeable for shares of
Common Stock or Preferred Stock.

 
____________________________

 

2 NTD: To
include one-half of the $500,000 success fee of the Company’s
Mexican legal counsel.

 

 

 

 

(c) The Company has
obtained valid waivers of any rights by other parties to purchase
any of the Company’s Securities (including the Warrants)
covered by this Agreement.

 

(d) All shares of the
Company’s Common Stock and Preferred Stock are owned of
record and beneficially by the stockholders in the amounts set
forth in the schedule previously provided to the Lead Purchaser.
There are no outstanding dividends, whether current or accumulated,
due or payable on any of the capital stock of the
Company.

 

2.4 Governmental
Consents. No consent,
approval, order or authorization of, or registration,
qualification, designation, declaration or filing with, any
federal, state or local governmental authority on the part of the
Company is required in connection with the consummation of the
transactions contemplated by this Agreement, except for filings
pursuant to applicable state securities laws and Regulation D
promulgated under the Securities Act of 1933, as amended (the
“Securities
Act”).

 

2.5  Compliance with
Laws and Other Instruments. The Company is not in violation
or default of any provisions of (i) its certificate of
incorporation or bylaws, (ii) any instrument, judgment, order,
writ, decree or contract to which it is a party or by which it is
bound, or (iii) to its knowledge, any provision of federal or state
statute, rule or regulation applicable to the Company, in the case
of clauses (ii) and (iii), the violation of which would have a
material and adverse effect on the Company, its business or assets.
The execution, delivery and performance of the Transaction
Documents, and the consummation of the transactions contemplated
hereby and thereby will not result in any such violation or be in
conflict with or constitute, with or without the passage of time
and giving of notice (or both), either a default under any such
provision, instrument, judgment, order, writ, decree or contract or
an event which results in the creation of any lien, charge or
encumbrance upon any assets of the Company or the suspension,
revocation, impairment, forfeiture or nonrenewal of any material
permit, license, authorization or approval applicable to the
Company, its business or operations. Without limiting the
foregoing, the Company has obtained all waivers reasonably
necessary with respect to any preemptive rights, rights of first
refusal or similar rights, including any notice or offering periods
provided for as part of any such rights, in order for the Company
to consummate the transactions contemplated under the Transaction
Documents without any third party obtaining any rights to cause the
Company to offer or issue any securities of the Company as a result
of the consummation of the transactions contemplated under the
Transaction Documents.

 

2.6 Litigation.
There is no claim, action, suit, proceeding, arbitration,
complaint, charge or investigation pending or, to the
Company’s knowledge, currently threatened in writing, (a)
against the Company or any officer or directors of the Company
arising out of their employment or board relationship with the
Company or (b) that questions the validity of the Transaction
Documents or the right of the Company to enter into them, or to
consummate the transactions contemplated by the Transaction
Documents. Neither the Company nor any of its officers or directors
is a party or is named as subject to the provisions of any order,
writ, injunction, judgment or decree of any court or government
agency or instrumentality (in the case of officers or directors,
such as would affect the Company).

 

2.7 Absence of
Liens. The property
and assets that the Company owns are free and clear of all
mortgages, deeds of trust, liens, loans and encumbrances, except
for statutory liens for the payment of current taxes that are not
yet delinquent and encumbrances and liens that arise in the
ordinary course of business and do not materially impair
the Company’s ownership or use of such property or
assets. With respect to the property and assets it leases, the
Company is in compliance with such leases and, to its knowledge,
holds a valid leasehold interest free of any liens, claims or
encumbrances other than those of the lessors of such property or
assets.

 

2.8 Valid
Offering. Assuming
the accuracy of the representations of the Purchasers in Section 3
of this Agreement and, with respect to the Securities to be offered
and sold hereunder, the Securities will be issued in compliance
with all applicable federal and state securities laws. In
connection with the offering of the Securities made pursuant to
this Agreement, the Company has not published, distributed, issued,
posted or otherwise used or employed and shall not publish,
distribute, issue, post or otherwise use or employ any form of
general solicitation or general advertising within the meaning of
Rule 502 under the Securities Act (a “General
Solicitation”).

 

2.9 Disqualification.
No disqualifying event described in Rule 506(d)(1)(i)-(viii)
promulgated under the Securities Act is applicable to the Company
or, to the Company’s knowledge, any Company Covered Person,
except for a Disqualification Event as to which Rule
506(d)(2)(ii)-(iv) or (d)(3) is applicable. “Company Covered Person” means,
with respect to the Company as an “issuer” for purposes
of Rule 506 promulgated under the Securities Act, any Person listed
in the first paragraph of Rule 506(d)(1).

 

2.10 Disclosure.
No representation or warranty of the Company contained in this
Agreement contains any untrue statement of a material fact or omits
to state a material fact necessary in order to make the statements
contained herein or therein not misleading in light of the
circumstances under which they were made.

 

 

 

 

3. Representations,
Warranties and Covenants of each Purchaser. Each Purchaser, solely with respect to
itself, himself or herself and not with respect to any other
Purchaser, hereby represents and warrants to the Company, which
representations and warranties are made as of the date of each
Closing in which such Purchaser participates, that:

 

3.1  Authorization.
Such Purchaser has full power and authority to enter into this
Agreement. This Agreement, when executed and delivered by such
Purchaser, will constitute valid and legally binding obligations of
such Purchaser, enforceable in accordance with its terms, except as
limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance and other laws of general
application affecting enforcement of creditors’ rights
generally and as limited by laws relating to the availability of
specific performance, injunctive relief or other equitable
remedies.

 

3.2  Purchase Entirely
for Own Account. This
Agreement is made with such Purchaser in reliance upon such
Purchaser’s representation to the Company, which by such
Purchaser’s execution of this Agreement, such Purchaser
hereby confirms, that the Securities to be acquired by such
Purchaser will be acquired for investment for the Purchaser’s
own account, not as a nominee or agent, and not with a view to the
resale or distribution of any part thereof in violation of
securities laws, and that such Purchaser has no present intention
of selling, granting any participation in, or otherwise
distributing the same. By executing this Agreement, such Purchaser
further represents that such Purchaser does not presently have any
contract, undertaking, agreement or arrangement with any person to
sell, transfer or grant participation to such person or to any
third person, with respect to any of the Securities. Such Purchaser
has not been formed for the specific purpose of acquiring the
Securities.

 

3.3 Disclosure of
Information.
Such Purchaser is aware
of the Company’s business affairs and financial condition and
has acquired sufficient information about the Company to reach an
informed and knowledgeable decision to acquire the Securities. Such
Purchaser has had an opportunity to discuss the Company’s
business, management, financial affairs and the terms and
conditions of the offering of the Securities with the
Company’s management and has had an opportunity to review the
Company’s facilities. The foregoing, however, does not limit
or modify the representations and warranties of the Company in
Section 2 of this Agreement or the right of each Purchaser to rely
thereon.

 

3.4  Restricted
Securities. Such
Purchaser understands that the Securities have not been, and will
not be, registered under the Securities Act, by reason of a
specific exemption from the registration provisions of the
Securities Act which depends upon, among other things, the bona
fide nature of the investment intent and the accuracy of such
Purchaser’s representations as expressed herein. Such
Purchaser understands that the Securities are “restricted
securities” under applicable U.S. federal and state
securities laws and that, pursuant to these laws, such Purchaser
must hold the Securities indefinitely unless they are registered
with the Securities and Exchange Commission and qualified by state
authorities, or an exemption from such registration and
qualification requirements is available. Such Purchaser
acknowledges that the Company has no obligation to register or
qualify the Securities for resale. Such Purchaser further
acknowledges that if an exemption from registration or
qualification is available, it may be conditioned on various
requirements including, but not limited to, the time and manner of
sale, the holding period for the Securities, and on requirements
relating to the Company which are outside of such Purchaser’s
control, and which the Company is under no obligation and may not
be able to satisfy.

 

3.5  No Public
Market. Such
Purchaser understands that, except with respect to the Common
Stock, no public market now exists for any of the Securities issued
by the Company, and that the Company has made no assurances that a
public market will ever exist for the Securities.

 

3.6  Legends.
Such Purchaser understands that the Securities, and any securities
issued in respect thereof or exchange therefor, may bear one or all
of the following legends:

 

(a) “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN
ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION
WITH, THE SALE OR DISTRIBUTION THEREOF IN VIOLATION OF SECURITIES
LAWS. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF
COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF
1933.”

 

(b) Any legend required
by the Blue Sky laws of any state to the extent such laws are
applicable to the shares represented by the certificate so
legended.

 

3.7 Investment
Experience. Such
Purchaser understands that the purchase of the Securities involves
substantial risk, particularly given the limited financial and
operating history of the Company. Such Purchaser has experience as
an investor in securities of companies in the development stage and
acknowledges that such Purchaser is able to fend for itself, can
bear the economic risk of such Purchaser’s investment in the
Securities and has such knowledge and experience in financial or
business matters that such Purchaser is capable of evaluating the
merits and risks of this investment in the Securities and
protecting its own interests in connection with this
investment.

 

 

 

 

3.8 Disqualification.
Such Purchaser represents that neither such
Purchaser, nor any person or entity with whom such Purchaser shares
beneficial ownership of Company securities, is subject to any of
the “bad actor” disqualifications described in Rule
506(d)(1)(i) to (viii) promulgated under the Securities
Act.

 

3.9 Accredited
Investor.
Such Purchaser is an
accredited investor as defined in Rule 501(a) of Regulation D
promulgated under the Securities Act.

 

3.10 Foreign
Investors. If such
Purchaser is not a United States person (as defined by Section
7701(a)(30) of the Internal Revenue Code of 1986, as amended, the
“Code”), such
Purchaser hereby represents that it has satisfied itself as to the
full observance of the laws of its jurisdiction in connection with
any invitation to subscribe for the Securities or any use of this
Agreement, including (a) the legal requirements within its
jurisdiction for the purchase of the Securities, (b) any foreign
exchange restrictions applicable to such purchase, (c) any
governmental or other consents that may need to be obtained, and
(d) the income tax and other tax consequences, if any, that may be
relevant to the purchase, holding, redemption, sale, or transfer of
the Securities. Such Purchaser’s subscription and payment for
and continued beneficial ownership of the Securities, will not
violate any applicable securities or other laws of such
Purchaser’s jurisdiction.

 

3.11 No
General Solicitation.
Neither such Purchaser, nor any of its officers, directors,
employees, agents, stockholders or partners, has either directly or
indirectly, including, through a broker or finder (a) engaged in
any general solicitation, or (b) published any advertisement in
connection with the offer and sale of the Securities.

 

4. Finder’s
Fee. Each party
represents that it is not, and will not be, obligated for any
finder’s fee or commission in connection with this
transaction. The Company agrees to indemnify and to hold harmless
each Purchaser from any liability for any commission or
compensation in the nature of a finder’s fee (and the costs
and expenses of defending against such liability or asserted
liability) for which the Company or any of its officers, employees,
or representatives is responsible. Each Purchaser agrees to
indemnify and to hold harmless the Company from any liability for
any commission or compensation in the nature of a finder’s
fee (and the costs and expenses of defending against such liability
or asserted liability) for which the Purchaser or any of its
officers, employees, or representatives is
responsible.

 

5. Exculpation Among
Purchasers. Each
Purchaser acknowledges that it is not relying upon any person,
other than the Company and its officers and directors, in making
its investment or decision to invest in the Company. Each Purchaser
agrees that neither any Purchaser nor the respective controlling
persons, officers, directors, partners, agents, or employees of any
Purchaser shall be liable to any other Purchaser for any action
heretofore taken or omitted to be taken by any of them in
connection with the purchase of the Securities.

 

6. Additional
Covenants. Effective as of the Closing, the Company shall,
at all times, (a) appoint and maintain a Chief Financial Officer,
or until such appointment, an acting Chief Financial Officer, (b)
make and keep available adequate current public information, as
those terms are understood and defined in Rule 144 promulgated by
the U.S. Securities and Exchange Commission (the
“SEC”)
under the Securities Act (“SEC Rule
144”), (c) file with the SEC in a timely manner all
reports and other documents required of the Company under the
Securities Act and the Securities Exchange Act of 1934, as amended
(the “Exchange
Act”), and (d) furnish to any Purchaser, forthwith
upon request (i) to the extent
accurate, a written statement by
the Company that it has complied with the reporting requirements of
SEC Rule 144, the Securities Act, and the Exchange Act, or that it
qualifies as a registrant whose securities may be resold pursuant
to Form S-3 (at any time after the Company so qualifies); (ii) a
copy of the most recent annual or quarterly report of the Company
and such other reports and documents so filed by the Company; and
(iii) such other information as may be reasonably requested in
availing any Purchaser of any rule or regulation of the SEC that
permits the selling of any such securities without registration or
pursuant to Form S-3 (at any time after the Company so qualifies to
use such form).

 

7. Stockholder
Approval. The Company shall solicit from each holder of
Common Stock of the Company entitled to vote at a special or annual
meeting of the holders of Common Stock of the Company (the
“Shareholder
Meeting”), which shall be promptly called and held not
later than July 14, 20203 (the “Shareholder Meeting Deadline”),
such shareholders’ affirmative vote at the Shareholder
Meeting for approval of (a) an amendment of the Company’s
certificate of incorporation to increase the number of authorized
shares of Common Stock from 25,000,000 shares to 40,000,000 shares,
and (b) an amendment of the Certificate of Designations of the
Series C Senior Convertible Preferred Stock, par value $0.0001, of
the Company (i) to extend the maturity date of the Series C Senior
Convertible Preferred Stock by an additional two (2) years, (ii) to
add an equity cap in respect of the conversion of Series C Senior
Convertible Preferred Stock into Common Stock of the Company, and
(iii) to add certain restrictions on the ability of the Company to
issue Series C Senior Convertible Preferred Stock (collectively,
the “Shareholder
Approval”), and the Company shall use its reasonable
best efforts to solicit the approval the holders of Common Stock of
such resolutions and to cause the board of directors of the Company
to recommend to the holders of Common Stock that they approve such
resolutions. Upon receipt by the Company of the Shareholder
Approval, the Company shall promptly provide to the Lead Purchaser
evidence of such Shareholder Approval and evidence of the filing of
an amendment to the certificate of incorporation of the Company and
an amendment to the Certificate of Designations of the Series C
Senior Convertible Preferred Stock with the Secretary of State of
Delaware effecting, in each case, the Shareholder Approval (the
“Charter
Amendments”).

 
____________________________

 

3 NTD: To be
60 days from the Closing Date.

 

 

 

 

8. Miscellaneous.

 

8.1  Transfer;
Successors and Assigns. The terms and conditions of this
Agreement shall inure to the benefit of and be binding upon the
respective successors and assigns of the parties. Nothing in this
Agreement, express or implied, is intended to confer upon any party
other than the parties hereto or their respective successors and
assigns any rights, remedies, obligations, or liabilities under or
by reason of this Agreement, except as expressly provided in this
Agreement. Subject to the requirements set forth in the Note(s)
and/or the Warrants, the rights under this Agreement may be
assigned (but only with all related obligations) by any Purchaser,
without the consent of the Company, to any Affiliate of such
Purchaser (as defined in the Note).

 

8.2  Governing Law;
Venue. This
Agreement, the Note(s), the Warrants and/or all acts and
transactions pursuant hereto and thereto and the rights and
obligations of the parties hereto and thereto shall be governed,
construed and interpreted in accordance with the laws of the State
of Texas, without giving effect to principles of conflicts of law.
This Agreement, the Note(s), the Warrants and/or any other
Transaction Document have been entered into in Dallas County, Texas
and are performable for all purposes in Dallas County, Texas. The
parties hereby agree that any lawsuit, action, or proceeding that
is brought (whether in contract, tort or otherwise) arising out of
or relating to this Agreement, the Note(s), the Warrants and/or any
other Transaction Document or the transactions contemplated hereby
and thereby, or the actions of any Purchaser in the negotiation,
administration or enforcement of this Agreement, the Note(s), the
Warrants and/or any other Transaction Document shall be brought in
a state or federal court of competent jurisdiction located in the
Northern District of Texas. Each of the parties hereto irrevocably
and unconditionally (a) submits to the exclusive jurisdiction of
such courts, (b) waives any objection it may now or hereafter have
as to the venue of any such lawsuit, action or proceeding brought
in any such court, and (c) further waives any claim that it may now
or hereafter have that any such court is an inconvenient
forum.

 

8.3 Counterparts;
Telecopy Signatures.
This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original and all of which together shall
constitute one instrument. A facsimile, telecopy or other
reproduction of this Agreement may be executed by one or more
parties hereto, and an executed copy of this Agreement may be
delivered by one or more parties hereto by facsimile or similar
electronic transmission device (including DocuSign, adobe acrobat
or otherwise) pursuant to which the signature of or on behalf of
such party can be seen, and such execution and delivery shall be
considered valid, binding and effective for all purposes. At the
request of any party hereto, all parties hereto agree to execute an
original of this Agreement as well as a facsimile, telecopy or
other reproduction hereto.

 

8.4 Titles and
Subtitles. The titles
and subtitles used in this Agreement are used for convenience only
and are not to be considered in construing or interpreting this
Agreement.

 

8.5 Notices.
All notices and other communications given or made pursuant to this
Agreement, the Note(s) and/or the Warrants shall be in writing and
shall be deemed effectively given: (a) upon personal delivery to
the party to be notified, (b) when sent by confirmed electronic
mail if sent during normal business hours of the recipient, and if
not, then on the next business day, (c) five days after having been
sent by registered or certified mail, return receipt requested,
postage prepaid, or (d) one day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with
written verification of receipt. All communications shall be sent
to a Purchaser at the address or email address as set forth on
Exhibit A hereto,
or at such other place as may be designated by such Purchaser in
writing to the Company, and to the Company at the address or email
address set forth on the Company’s signature page below, or
to such e-mail address or address as subsequently modified by
written notice given in accordance with this Section 8.5. If notice is given
to the Company, a copy, which itself shall not constitute notice,
shall also be sent to Roger A. Crabb, c/o Scheef & Stone, LLP,
500 N. Akard, 2700 Ross Tower, Dallas, Texas 75201, roger.crabb@solidcounsel.com.

 

8.6  Fees and
Expenses. Each
party hereto shall be responsible for the fees and disbursements of
attorneys, accountants, consultants and any other representative or
agent retained by such party in regard to this Agreement;
provided that at
the Closing, the Company shall pay the reasonable fees and expenses
of Haynes and Boone, LLP, the counsel for the Lead Purchaser, in an
amount not to exceed, in the aggregate, $100,000.

 

8.7  Attorney’s
Fees. If any action at law or in equity (including
arbitration) is necessary to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to reasonable
attorney’s fees, costs and necessary disbursements in
addition to any other relief to which such party may be
entitled.

 

8.8  Amendments and
Waivers. Any term of
this Agreement may be amended or waived only with the written
consent of the Company and a majority of the Purchasers, which
majority shall include the Lead Purchaser for so long as the GP
Warrant and/or any principal remains outstanding under the Lead
Purchaser’s Note(s). Any amendment or waiver effected in
accordance with this Section 8.8 shall be
binding upon the Purchasers and each transferee of the Securities,
each future holder of all such Securities, and the
Company.

 

 

 

 

8.9  Severability.
If one or more provisions of this Agreement are held to be
unenforceable under applicable law, the parties agree to
renegotiate such provision in good faith. In the event that the
parties cannot reach a mutually agreeable and enforceable
replacement for such provision, then (a) such provision shall
be excluded from this Agreement, (b) the balance of the
Agreement shall be interpreted as if such provision were so
excluded and (c) the balance of the Agreement shall be
enforceable in accordance with its terms.

 

8.10  Delays
or Omissions. No
delay or omission to exercise any right, power or remedy accruing
to any party under this Agreement, upon any breach or default of
any other party under this Agreement, shall impair any such right,
power or remedy of such non-breaching or non-defaulting party nor
shall it be construed to be a waiver of any such breach or default,
or an acquiescence therein, or of or in any similar breach or
default thereafter occurring; nor shall any waiver of any single
breach or default be deemed a waiver of any other breach or default
theretofore or thereafter occurring. Any waiver, permit, consent or
approval of any kind or character on the part of any party of any
breach or default under this Agreement, or any waiver on the part
of any party of any provisions or conditions of this Agreement,
must be in writing and shall be effective only to the extent
specifically set forth in such writing. All remedies, either under
this Agreement or by law or otherwise afforded to any party, shall
be cumulative and not alternative.

 

8.11  Entire
Agreement. This
Agreement, and the documents referred to herein and referred to in
the Transaction Documents constitute the entire agreement between
the parties hereto pertaining to the subject matter hereof and
thereof, and any and all other written or oral agreements relating
to the subject matter hereof and thereof existing between the
parties hereto are expressly canceled.

 

8.12 Waiver
of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, EACH OF THE COMPANY AND, BY ITS ACCEPTANCE HEREOF, EACH
PURCHASER IRREVOCABLY AND EXPRESSLY WAIVES ALL RIGHT TO A TRIAL BY
JURY IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM (WHETHER BASED UPON
CONTRACT, TORT, OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS
AGREEMENT, THE NOTE(S), THE WARRANT AND/OR ANY OTHER TRANSACTION
DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREUNDER OR THEREUNDER
OR THE ACTIONS OF ANY PARTY IN THE NEGOTIATION, ADMINISTRATION, OR
ENFORCEMENT HEREOF OR THEREOF. EACH OF THE COMPANY AND, BY ITS
ACCEPTANCE HEREOF, EACH PURCHASER (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO
HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT, THE NOTE(S), THE
WARRANT AND/OR ANY OTHER TRANSACTION DOCUMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 8.12.

 

8.13 Survival.
Unless otherwise set forth in this Agreement, the representations
and warranties and covenants of the Company and the Purchasers
contained in or made pursuant to this Agreement shall survive the
execution and delivery of this Agreement and the
Closing.

 

[Signature Pages Follow]

 

 

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

 

	
 

	
COMPANY:

	
 

	
 

	
 

	
 DYNARESOURCE,
INC.

	
 

	

	
By:  

	
 

	
 

	
 

	
Name:

	
  

	
 

	
 

	
Title:

	
 

	
 

	
 

	
  

	
 

	
 

	
 

	
  
Address:

	
 

 
222 W. Las Colinas
Blvd.

Suite 1910 North
Tower

Irving,
TX 75039  

	
 

 

 

  [Signature Page to Note Purchase
Agreement]

 

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

 

	

	
 

	
LEAD
PURCHASER:

	
 

	

	
 

	
 

	
 

	

	
 

	
GOLDEN
POST RAIL, LLC

	
 

	

	
 

	
 

	
 

	

	
By:  

	
 

	
 

	
 

	
Name:

	
  

	
 

	
 

	
Title:

	
 

	
 

	
 

	
  

	
 

	
 

 

 

[Signature Page to Note Purchase Agreement]

 

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

  

	

	
 

	
PURCHASER:

	
 

	

	
 

	
[______]

	
 

	

	
 

	
  

	
 

	

	
By:  

	
 

	
 

	
 

	
Name:

	
  

	
 

	
 

	
Title:

	
 

	
 

	
 

	
  

	
 

	
 

 

  [Signature Page to Note Purchase
Agreement]

 

 

	
EXHIBITS

	
 

	
 

	
 

	
Exhibit A

	
Schedule of
Purchasers

	
 

	
 

	
Exhibit
B

	
Form of
Note

	
 

	
 

	
Exhibit
C-1

	
Form of GP
Warrant

	
 

	
 

	
Exhibit
C-2

	
Form of Remaining
Warrant

	
  

	
 

	
Exhibit
D

	
Budget

	
  

	
 

	
Exhibit
E

	
Draw
Summary

	
  

	
 

	
Exhibit
F

	
Disclosure
Schedule

	
  

	
 

	
Exhibit
G

	
Exception to Use of
Proceeds

 

 

 

 

EXHIBIT A

SCHEDULE OF PURCHASERS

Closing:

 

	

Name and Address

	

Note Principal Amount

	

Warrant Shares

	

Closing Date

	

Funding Date

	

Golden
Post Rail, LLC

1110
Post Oak Place

Westlake,
Texas 76262

 

	

$2,500,000
(of which $___________ was initially drawn on the Closing
Date).

	

783,975

	

May
___, 2020

	

May
___, 2020

	

Gareth
Nichol

5
Greenridge Road

Greenwood
Village CO 8011

 

	

$1,000,000

	

313,591

	

May
___, 2020

	

$500,000
was initially funded on March 24, 2020, and $500,000 was fully
funded on April 13, 2020

	

 

Tom
Tillander

8633
Stone Oak Drive

Holland
OH 43528

 

	

$50,000

	

15,679

	

May
___, 2020

	

March
10, 2020

	

 

Dr.
Ralph Whalen

3918
Ravine Hollow Court

Maumee,
OH 43537

 

	

$50,000

	

15,679

	

May
___, 2020

	

March
2, 2020

	

 

Dale
Petrini

29 Bash
Place

Houston
TX 77027

 

	

 

$100,000

	

31,359

	

May
___, 2020

	

March
9, 2020

	

 

Ron
Vail

6766
Pine Creek Drive

Toledo
OH 43617

 

	

 

$200,000

	

62,718

	

May
___, 2020

	

February
24, 2020

	

Total:

	

$3,900,000

	

1,223,001

	
 

	
 

 

 

 

 

EXHIBIT B

 

FORM OF NOTE

 

 

 

EXHIBIT C-1

 

FORM OF GP WARRANT

 

 

 

 

 

 

EXHIBIT C-2

 

FORM OF REMAINING WARRANT

 

 

EXHIBIT D

 

BUDGET

 

 

EXHIBIT E

 

DRAW SUMMARY

 

 

EXHIBIT F

 

DISCLOSURE SCHEDULE

 

 

 

EXHIBIT G

 

EXCEPTION TO USE OF PROCEEDS

 

Solely
with respect to the proceeds of the Notes issued to Purchasers
(other than the Lead Purchaser), use of such proceeds to repay the
following convertible promissory note:

 

	
Notes Payable
Rollforward

	
 

	
 

	
 

	
 

	
 

	
 

	
March 31,
2020

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 Date
of

	
Date
of

	
 

	
 

	
 

	
Accured
Interest

	
Name

	
 Original
Note

	
 Extension

	
Due
Date

	
Interest
Rate

	
Balance
03/31/20

	
 3/31/2020

	
NOTE I

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Lyden, Breen

	
 4/10/13

	
 3/31/20

	
 12/31/20

	
 12.50%

	
 246,533.30

	
 7,470.70Exhibit 10.1

 

EXECUTION COPY

 

AMENDMENT NO. 4

 

Dated as of May 19, 2020

 

to

 

THIRD AMENDED AND RESTATED CREDIT AGREEMENT

 

Dated as of August 28, 2019

 

THIS AMENDMENT NO.
4 (this “Amendment”) is made as of May 19, 2020 (the “Effective Date”) by and among (i) Hillenbrand,
Inc. (the “Company”), (ii) the parties identified as Subsidiary Borrowers on the signature pages hereof (each
a “Subsidiary Borrower” and, collectively with the Company, the “Borrowers”), (iii) the Lenders
party hereto (the “Lenders”) and (iv) JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative
Agent”), under that certain Third Amended and Restated Credit Agreement dated as of August 28, 2019 by and among the
Borrowers, the Lenders and the Administrative Agent (as amended, restated, supplemented or otherwise modified prior to the date
hereof, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings given to them in the Credit Agreement.

 

WHEREAS, the Borrowers
have requested that the requisite Lenders agree to make certain modifications to the Credit Agreement;

 

WHEREAS, the Borrowers,
the Lenders party hereto and the Administrative Agent have agreed to amend the Credit Agreement on the terms and conditions set
forth herein;

 

NOW, THEREFORE, in
consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Borrowers, the Lenders party hereto and the Administrative Agent
hereby agree to enter into this Amendment.

 

1.                  Amendments
to Credit Agreement. Effective as of the date of satisfaction of the conditions precedent set forth in Section 2 below
(such date, the “Amendment Effective Date”), the parties hereto agree that the Credit Agreement (including
the Schedules and Exhibits thereto) shall be amended to delete the stricken text (indicated textually in the same manner as the
following example: stricken text) and to add the double-underlined text (indicated
textually in the same manner as the following example: double-underlined
text) as set forth in the pages of the Credit Agreement (including the Schedules and Exhibits thereto) attached as
Annex A hereto (the Credit Agreement as so amended, the “Amended Credit Agreement”).

 

2.                  Conditions
of Effectiveness. The effectiveness of this Amendment is subject to the conditions precedent that:

 

(a)
The Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrowers, the Required
Lenders and the Administrative Agent.

 

(b)
The Administrative Agent shall have received counterparts of the Consent and Reaffirmation attached as Exhibit A
hereto duly executed by the Subsidiary Guarantors.

 

     

     

    

 

(c)
The Administrative Agent shall have received for the account of each Lender that delivers its executed signature page to
this Amendment by no later than the date and time specified by the Administrative Agent, an amendment fee in an amount equal to
the amount previously disclosed to the Lenders.

 

(d)
The Administrative Agent shall have received payment and/or reimbursement of the Administrative Agent’s and its affiliates’
fees and expenses (including, to the extent invoiced, reasonable and documented fees and expenses of counsel for the Administrative
Agent) in accordance with the Loan Documents.

 

3.                  Representations
and Warranties of the Borrowers. Each Borrower for itself hereby represents and warrants as follows:

 

(a)
This Amendment and the Amended Credit Agreement constitute the legal, valid and binding obligations of such Borrower enforceable
against such Borrower in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium
or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered
in a proceeding in equity or at law.

 

(b)
As of the date hereof and giving effect to the terms of this Amendment, (i) no Default or Event of Default has occurred
and is continuing and (ii) the representations and warranties of the Borrowers set forth in the Amended Credit Agreement are true
and correct in all material respects (provided that any representation or warranty qualified by materiality or Material Adverse
Effect is true and correct in all respects) (except to the extent any such representation or warranty expressly relates to an earlier
date, in which case such representation or warranty is true and correct as of such earlier date).

 

4.                  Reference
to and Effect on the Credit Agreement.

 

(a)
Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document
shall mean and be a reference to the Amended Credit Agreement.

 

(b)
Except as specifically amended above, each Loan Document and all other documents, instruments and agreements executed and/or
delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed.

 

(c)
Except as specifically provided above, the execution, delivery and effectiveness of this Amendment shall not operate as
a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of
the Credit Agreement, the Loan Documents or any other documents, instruments and agreements executed and/or delivered in connection
therewith.

 

(d)
This Amendment shall be a Loan Document.

 

5.                  Governing Law. This Amendment shall be construed in accordance with and governed by the law of the State of New York.

 

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

 

    	 	2	 

     

    

 

7.                  Counterparts.
This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of a signature page
of this Amendment by telecopy, e-mailed.pdf or any other electronic means that reproduces an image of the actual executed signature
page shall be effective as delivery of a manually executed counterpart of this Amendment.

 

[Signature
Pages Follow]

 

    	 	3	 

     

    

 

IN WITNESS WHEREOF, this
Amendment has been duly executed as of the day and year first above written.

 

	 	HILLENBRAND, INC.,
	 	as the Company
	 	 	 
	 	 	 
	 	By	/s/ Theodore S. Haddad,
    Jr.
	 	 	Name:	 Theodore S. Haddad, Jr.
	 	 	Title: 	Vice President and Treasurer

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc., et al.)

 

     

     

    

 

	 	Hillenbrand Luxembourg S.À R.L.,
	 	as a Subsidiary Borrower
	 	 	 
	 	 	 
	 	By	 /s/ Theodore S. Haddad, Jr.
	 	 	Name:	Theodore S. Haddad, Jr.
	 	 	Title:	 Category A Manager

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc., et al.)

 

     

     

    

 

	 	COPERION K-Tron (Schweiz) GmbH,
	 	as a Subsidiary Borrower
	 	 	 
	 	 	 
	 	By	 /s/ Theodore S. Haddad,
    Jr.
	 	 	Name: 	Theodore S. Haddad, Jr.
	 	 	Title:	 Authorised Signatory

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	Hillenbrand Switzerland GmbH,
	 	as a Subsidiary Borrower
	 	 	 
	 	 	 
	 	By	 /s/ Theodore S. Haddad,
    Jr.
	 	 	Name: 	Theodore S. Haddad, Jr.
	 	 	Title: 	Chairman of the Board of Managing Officers

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	Batesville Canada Ltd.,
	 	as a Subsidiary Borrower
	 	 	 
	 	 	 
	 	By	 /s/ Theodore S. Haddad,
    Jr.
	 	 	Name:	 Theodore S. Haddad, Jr.
	 	 	Title: 	Treasurer

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc., et al.)

 

     

     

    

 

	 	JeffREy Rader Canada Company,
	 	as a Subsidiary Borrower
	 	 	 
	 	 	 
	 	By	 /s/ Theodore S. Haddad,
    Jr.
	 	 	Name: 	Theodore S. Haddad, Jr.
	 	 	Title: 	Assistant Treasurer

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	Rotex Europe Ltd,
	 	as a Subsidiary Borrower
	 	 	 
	 	 	 
	 	By	 /s/ Theodore S. Haddad,
    Jr.
	 	 	Name:	 Theodore S. Haddad, Jr.
	 	 	Title: 	Authorised Signatory

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	COPERION GMBH,
	 	as a Subsidiary Borrower
	 	 	 
	 	 	 
	 	By	/s/ Kimberly Karen Ryan
	 		Name:	 Kimberly Karen Ryan
	 	 	Title: 	Managing Director

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	HILLENBRAND GERMANY HOLDING GMBH,
	 	as a Subsidiary Borrower
	 	 	 
	 	 	 
	 	By	 /s/ Kimberly Karen Ryan
	 	 	Name:	 Kimberly Karen Ryan
	 	 	Title:	Managing Director

 
Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	JPMORGAN CHASE BANK, N.A.,
	 	individually as a Lender and as Administrative
	 	Agent
	 	 	 
	 	 	 
	 	By	/s/ Erik Barragan
	 	Name:	Erik Barragan
	 	Title:	Authorized Officer

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	CITIZENS BANK, N.A., 
	 	as a Lender
	 	 
	 	 
	 	By	 /s/ Megan Livingston
	 	Name:	 Megan Livingston
	 	Title:	SVP

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	BMO HARRIS FINANCING, INC., 
	 	as a Lender
	 	 
	 	 
	 	By 	/s/ Betsy Phillips
	 	Name:	Betsy Phillips
	 	Title:	Director

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	HSBC BANK USA, NATIONAL ASSOCIATION, 
	 	as a Lender
	 	 
	 	 
	 	By	/s/ Shaun Kleinman
	 	Name:	Shaun Kleinman
	 	Title:	Senior Vice President

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	PNC BANK, NATIONAL ASSOCIATION, 
	 	as a Lender
	 	 
	 	 
	 	By	/s/ Derek Jones
	 	Name:	Derek Jones
	 	Title:	Vice President

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION, 
	 	as a Lender
	 	 
	 	 
	 	By	/s/ Terrence Ward
	 	Name:	Terrence Ward
	 	Title:	Senior Vice President

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	SUMITOMO MITSUI BANKING CORPORATION, 
	 	as a Lender
	 	 
	 	 
	 	By	/s/ Jun Ashley
	 	Name:	Jun Ashley
	 	Title:	Director

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

	 	TRUIST BANK (formerly known as Branch Banking and Trust Company),
	 	as a Lender
	 	 
	 	 
	 	By	/s/ Matthew J. Davis
	 	Name:	Matthew J. Davis
	 	Title:	Senior Vice President

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc.,
et al.)

 

     

     

    

 

 

	 	COMMERZBANK AG, NEW YORK BRANCH,

 as a Lender
	 	 
	 	 
	 	By	/s/ Mathew Ward
	 	Name:	Mathew Ward
	 	Title:	Director
	 	 
	 	 
	 	By	/s/ Robert Sullivan
	 	Name:	Robert Sullivan
	 	Title:	Vice President

 

 

Signature Page to
Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc., et al.)

 

     

     

    

 

	 	FIFTH THIRD BANK, NATIONAL ASSOCIATION
 as a Lender
	 	 
	 	 
	 	By	/s/ J. David Izard
	 	Name:	J. David Izard  
	 	Title:	Managing Director

 

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc., et al.)

 

     

     

    

 

	 	BANK OF AMERICA, N.A.,

 as a Lender
	 	 
	 	 
	 	By	/s/ Brian D. Smith
	 	Name:	Brian D. Smith
	 	Title:	Senior Vice President

 

 

Signature Page to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc., et al.)

 

     

     

    

 

	 	SANTANDER BANK, NATIONAL ASSOCIATION,

 as a Lender
	 	 
	 	 
	 	By	/s/ Donna Cleary
	 	Name:	Donna Cleary
	 	Title:	Senior Vice President

 

 

Signature Page to
Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc., et al.)

 

     

     

    

 

EXHIBIT A

 

Consent and Reaffirmation

 

 

Each of the undersigned
hereby acknowledges receipt of a copy of the foregoing Amendment No. 4 to the Third Amended and Restated Credit Agreement (as the
same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
dated as of August 28, 2019, by and among Hillenbrand, Inc. (the “Company”), the Subsidiary Borrowers (collectively
with the Company, the “Borrowers”), the Lenders and JPMorgan Chase Bank, N.A., as Administrative Agent (the
 “Administrative Agent”), which Amendment No. 4 is dated as of May 19, 2020 and is by and among the Borrowers,
the financial institutions listed on the signature pages thereof and the Administrative Agent (the “Amendment”).
Capitalized terms used in this Consent and Reaffirmation and not defined herein shall have the meanings given to them in the Credit
Agreement. Without in any way establishing a course of dealing by the Administrative Agent or any Lender, each of the undersigned
consents to the Amendment and reaffirms the terms and conditions of the Subsidiary Guaranty and any other Loan Document executed
by it and acknowledges and agrees that the Subsidiary Guaranty and each and every such Loan Document executed by the undersigned
in connection with the Credit Agreement remains in full force and effect and is hereby reaffirmed, ratified and confirmed. All
references to the Credit Agreement contained in the above-referenced documents shall be a reference to the Credit Agreement as
so modified by the Amendment and as the same may from time to time hereafter be amended, modified or restated.

 

This Consent and Reaffirmation
shall be construed in accordance with and governed by the law of the State of New York. This Consent and Reaffirmation may be executed
by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall
be deemed to constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Consent and
Reaffirmation by telecopy, e-mailed.pdf or any other electronic means that reproduces an image of the actual executed signature
page shall be effective as delivery of a manually executed counterpart of this Consent and Reaffirmation.

 

Dated May 19, 2020

 

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF, this Consent and Reaffirmation
has been duly executed and delivered as of the day and year above written.

 

 

	BATESVILLE SERVICES, INC.	 	BATESVILLE CASKET
    COMPANY, INC.
	 	 	 
	 	 	 
	By:	/s/ Theodore S. Haddad, Jr. 	 	By:	/s/ Theodore S. Haddad, Jr.
	Name: Theodore S. Haddad, Jr.	 	Name: Theodore S. Haddad, Jr.
	Title: Vice President and Treasurer	 	Title: Vice President and Treasurer
	 	 	 
	BATESVILLE MANUFACTURING,
    INC.	 	PROCESS EQUIPMENT GROUP,
    INC.
	 	 	 
	 	 	 
	By:	/s/ Theodore S. Haddad, Jr.	 	By:	/s/ Theodore S. Haddad, Jr.
	Name: Theodore S. Haddad, Jr.	 	Name: Theodore S. Haddad, Jr.
	Title: Vice President and Treasurer	 	Title: Treasurer
	 	 	 
	K-TRON INVESTMENT CO.	 	ROTEX GLOBAL, LLC
	 	 	 
	 	 	 
	By:	/s/ Theodore S. Haddad, Jr.	 	By:	/s/ Theodore S. Haddad, Jr.
	Name: Theodore S. Haddad, Jr.	 	Name: Theodore S. Haddad, Jr.
	Title: Assistant Treasurer	 	Title: Assistant Treasurer
	 	 	 
	coperion k-tron pitman,
    inc.	 	terrasource global corporation
	 	 	 
	 	 	 
	By:	/s/ Theodore S. Haddad, Jr.	 	By:	/s/ Theodore S. Haddad, Jr.
	Name: Theodore S. Haddad, Jr.	 	Name: Theodore S. Haddad, Jr.
	Title: Assistant Treasurer	 	Title: Assistant Treasurer
	 	 	 
	coperion corporation	 	RED VALVE COMPANY, INC.
	 	 	 
	 	 	 
	By:	/s/ Theodore S. Haddad, Jr.	 	By:	/s/ Theodore S. Haddad, Jr.
	Name: Theodore S. Haddad, Jr.	 	Name: Theodore S. Haddad, Jr.
	Title: Vice President and Assistant Treasurer	 	Title: Assistant Treasurer

 

 

Signature Page to Consent and Reaffirmation
to Amendment No. 4 to

Third Amended and Restated Credit Agreement

(Hillenbrand, Inc., et al.)

 

     

     

    

 

ANNEX A

 

Attached

 

     

     

    

 

ARTICLE I

 

Definitions 

 

SECTION 1.01.Defined
Terms. As used in this Agreement, the following terms have the meanings specified below:

 

“ABR”
when used in reference to any Loan or Borrowing, refers to such Loan, or the Loans comprising such Borrowing, bearing interest
at a rate determined by reference to the Alternate Base Rate.

 

“Additional Commitment Lender” is
defined in Section 2.25(d).

 

“Acquisition-Related
Incremental Term Loans” has the meaning assigned to such term in Section 2.20.

 

“Adjusted Covenant Period” has the
meaning assigned to such term in Section 6.10.

 

“Adjusted LIBO
Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, an interest rate per annum (rounded
upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory
Reserve Rate.

 

“Administrative
Agent” means JPMorgan Chase Bank, N.A. (including its branches and affiliates), in its capacity as administrative agent
for the Lenders hereunder.

 

“Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent.

 

“Affected
Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.

 

“Affiliate”
means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls
or is Controlled by or is under common Control with the Person specified.

 

“Agreed Currencies”
means (i) Dollars, (ii) euro, (iii) Pounds Sterling, (iv) Swiss Francs, (v) Canadian Dollars, (vi) Japanese Yen and (vii) any other
currency (x) that is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into
Dollars, (y) for which a LIBOR Screen Rate is available pursuant to the definition of “LIBO Rate” in the Administrative
Agent’s reasonable determination (subject to the terms of Section 2.14) and (z) that is agreed to by the Administrative Agent
and each of the Revolving Lenders.

 

“Agreement” has the meaning assigned
to such term in the introductory paragraph.

 

“Airport Access
and Use Agreement” means that certain Airport Access and Use Agreement dated on or about March 21, 2008 by and between
Hill-Rom and Batesville Services.

 

    2

     

    

 

“Alternate Base
Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the
NYFRB Rate in effect on such day plus 1/2 of 1% and (c) the Adjusted LIBO Rate for a one month Interest Period
in Dollars on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided
that for the purpose of this

definition, the Adjusted LIBO Rate for
any day shall be based on the LIBOR Screen Rate (or if the LIBOR Screen Rate is not available for such one month Interest Period,
the Interpolated Rate) at approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate due to a change
in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change
in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate, respectively. If the Alternate Base Rate is being used as an alternate
rate of interest pursuant to Section 2.14 hereof, then the Alternate Base Rate shall be the greater of clauses (a) and (b) above
and shall be determined without reference to clause (c) above. For the avoidance of doubt, if the Alternate Base Rate as determined
pursuant to the foregoing would be less than 1.001.75%,
such rate shall be deemed to be 1.001.75%
for purposes of this Agreement.

 

“Alternative Rate” has
the meaning assigned to such term in Section 2.14(a).

 

“Amendment No. 1 Effective Date”
means October 8, 2019.

 

“Amendment
No. 4 Effective Date” means May 19, 2020.

 

“Anti-Corruption
Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Company or its Subsidiaries from time
to time concerning or relating to bribery or corruption.

 

“Applicable
LC Sublimit” means, as of the Effective Date (i) with respect to JPMorgan Chase Bank, N.A. in its capacity as an Issuing
Bank under this Agreement, $28,600,000, (ii) with respect to Citizens Bank, N.A. in its capacity as an Issuing Bank under this
Agreement, $28,600,000, (iii) with respect to Wells Fargo Bank, National Association in its capacity as an Issuing Bank under this
Agreement, $28,600,000, (iv) with respect to PNC Bank, National Association in its capacity as an Issuing Bank under this Agreement,
$28,600,000, (v) with respect to HSBC Bank USA, National Association in its capacity as an Issuing Bank under this Agreement, $28,600,000,
(vi) with respect to U.S. Bank National Association in its capacity as an Issuing Bank under this Agreement, $28,600,000, (vii)
with respect to BMO Harris Financing, Inc. in its capacity as an Issuing Bank under this Agreement, $28,600,000 and (viii) with
respect to any other Person that becomes an Issuing Bank pursuant to the terms of this Agreement, such amount as agreed to in writing
by the Company, the Administrative Agent and such Person at the time such Person becomes an Issuing Bank pursuant to the terms
of the Agreement, as each of the foregoing amounts may be decreased or increased from time to time with the written consent of
the Company, the Administrative Agent and the Issuing Banks (provided that any increase in the Applicable LC Sublimit with respect
to any Issuing Bank (and any decrease in the Applicable LC Sublimit with respect to any Issuing Bank after any such increase in
the Applicable LC Sublimit of such Issuing Bank so long as such decrease would not cause the Applicable LC Sublimit of such Issuing
Bank to be less than its Applicable LC Sublimit as of the Effective Date) shall only require the consent of the Company, the Administrative
Agent and such Issuing Bank).

 

“Applicable Maturity
Date” has the meaning assigned to it in Section 2.25(a).

 

“Applicable Parties” has the meaning assigned to such term in Section 8.02(c).

 

“Applicable
Payment Office” means, (a) in the case of a Canadian Revolving Borrowing, the Canadian Payment Office and (b) in the
case of a Eurocurrency Borrowing (including for Designated Loans), the applicable Eurocurrency Payment Office.

 

 

    3

     

    

 

“Applicable
Percentage” means, with respect to any Lender, (a) with respect to Revolving Loans, LC Exposure or Swingline Loans, the
percentage equal to a fraction the numerator of which is such Lender’s
Revolving Commitment and the denominator of which is the aggregate Revolving Commitments of all Revolving Lenders (if the
Revolving Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Revolving
Commitments most recently in effect, giving effect to any assignments); (b) with respect to the Term A-1 Loans, (i) at any
time prior to the funding of the Term A-1 Loans on the Term Loan Funding Date, a percentage equal to a fraction the numerator
of which is such Lender’s Term A-1 Loan Commitment and the denominator of which is the aggregate Term A-1 Loan
Commitments of all Term A-1 Lenders and (ii) at any time after the funding of the Term A-1 Loans on the Term Loan Funding
Date, a percentage equal to a fraction the numerator of which is such Lender’s outstanding principal amount of the Term
A-1 Loans and the denominator of which is the aggregate outstanding principal amount of the Term A-1 Loans of all Term A-1
Lenders and (c) with respect to the Term A-2 Loans, (i) at any time prior to the funding of the Term A-2 Loans on the Term
Loan Funding Date, a percentage equal to a fraction the numerator of which is such Lender’s Term A-2 Loan Commitment
and the denominator of which is the aggregate Term A-2 Loan Commitments of all Term A-2 Lenders and (ii) at any time after
the funding of the Term A-2 Loans on the Term Loan Funding Date, a percentage equal to a fraction the numerator of which is
such Lender’s outstanding principal amount of the Term A-2 Loans and the denominator of which is the aggregate
outstanding principal amount of the Term A-2 Loans of all Term A-2 Lenders.

 

“Applicable Rate” means:

 

(a) for any day, with
respect to any Eurocurrency Revolving Loan, any BA Equivalent Revolving Loan, any ABR Revolving Loan, any Canadian Base Rate Revolving
Loan or with respect to any Commercial Letter of Credit or with respect to the facility fees payable hereunder, as the case may
be, the applicable rate per annum set forth below under the caption “Eurocurrency/BA Equivalent Revolving Spread”,
 “ABR/Canadian Base Rate Revolving Spread”, “Facility Fee Rate” or “Commercial Letter of Credit Rate”,
as the case may be, based upon the Leverage Ratio applicable on such date:

 

	 	 	Leverage Ratio:	 	Eurocurrency 
/ BA 
Equivalent 
Revolving 
Spread	 	 	ABR / 
Canadian 
Base Rate 
Revolving 
Spread	 	 	Commercial 
Letter of 
Credit Rate	 	 	Facility 
Fee Rate	 
	Category 1:	 	< 1.00 to 1.00	 	 	0.90	%	 	 	0	%	 	 	0.6375	%	 	 	0.10	%
	  Category 2: 	 	≥ 1.00 to 1.00 but 
 < 1.50 to 1.00	 	 	1.00	%	 	 	0	%	 	 	0.7125	%	 	 	0.125	%
	  Category 3:	 	≥ 1.50 to 1.00 but 
 < 2.00 to 1.00	 	 	1.10	%	 	 	0.10	%	 	 	0.7875	%	 	 	0.15	%
	  Category 4: 	 	≥ 2.00 to 1.00 but 
 < 2.50 to 1.00	 	 	1.175	%	 	 	0.175	%	 	 	0.84375	%	 	 	0.20	%
	  Category 5: 	 	≥ 2.50 to 1.00 but 
 < 3.00 to 1.00	 	 	1.275	%	 	 	0.275	%	 	 	0.90	%	 	 	0.225	%
	  Category 6: 	 	≥ 3.00 to 1.00 but 
 < 4.00 to 1.00	 	 	1.501.70	%	 	 	0.500.70	%	 	 	1.051.30	%	 	 	0.250.30	%

 

    4

     

    

 

	  Category
    7:	 	≥4.00
    to 1.00 but < 4.50 to 1.00  	 	 	1.601.775	%	 	 	0.600.775	%	 	 	1.151.40	%	 	 	0.2750.35	%
	  Category
    8:	 	≥
    4.50 to 1.00	 	 	1.975	%	 	 	0.975	%	 	 	1.65	%	 	 	0.40	%

 

 

(b)
for any day, with respect to any Eurocurrency Term A-1 Loan or any ABR Term A-1 Loan, as the case may be, the applicable rate
per annum set forth below under the caption “Eurocurrency Term A-1 Loan Spread”, “ABR Term A-1 Loan
Spread”, as the case may be, based upon the Leverage Ratio applicable on such date:

 

	 	 	Leverage Ratio:	 	Eurocurrency Term A-1 Loan Spread	 	 	ABR Term A-1 Loan Spread	 
	Category 1:	 	< 1.00 to 1.00	 	 	1.00	%	 	 	0	%
	  Category 2: 	 	≥ 1.00 to 1.00 but 
 < 1.50 to 1.00	 	 	1.125	%	 	 	0.125	%
	  Category 3:	 	≥ 1.50 to 1.00 but 
 < 2.00 to 1.00	 	 	1.25	%	 	 	0.25	%
	  Category 4: 	 	≥ 2.00 to 1.00 but 
 < 2.50 to 1.00	 	 	1.375	%	 	 	0.375	%
	  Category 5: 	 	≥ 2.50 to 1.00 but 
 < 3.00 to 1.00	 	 	1.50	%	 	 	0.50	%
	  Category 6: 	 	≥ 3.00 to 1.00 but 
 < 4.00 to 1.00	 	 	1.752.00	%	 	 	0.751.00	%
	  Category 7:	 	≥4.00 to 1.00 but
    < 4.50 to 1.00 	 	 	1.8752.125	%	 	 	0.8751.125	%
	  Category
    8:  		≥
    4.50 to 1.00			2.375	%			1.375	%

 

 

 

(c) for
any day, with respect to any Eurocurrency Term A-2 Loan or any ABR Term A-2 Loan, as the case may be, the applicable rate per annum
set forth below under the caption “Eurocurrency Term

A-2 Loan Spread”, “ABR
Term A-2 Loan Spread”, as the case may be, based upon the Leverage Ratio applicable on such date:

 

	 	 	Leverage Ratio:	 	Eurocurrency Term A-2 Loan Spread	 	 	ABR Term A-2 Loan Spread	 
	Category 1:	 	< 1.00 to 1.00	 	 	0.875	%	 	 	0	%

 

    5

     

    

 

	  Category 2: 	 	≥ 1.00 to 1.00 but 
 < 1.50 to 1.00	 	 	1.00	%	 	 	0	%
	  Category 3:	 	≥ 1.50 to 1.00 but 
 < 2.00 to 1.00	 	 	1.125	%	 	 	0.125	%
	  Category 4: 	 	≥ 2.00 to 1.00 but 
 < 2.50 to 1.00	 	 	1.25	%	 	 	0.25	%
	  Category 5: 	 	≥ 2.50 to 1.00 but 
 < 3.00 to 1.00	 	 	1.375	%	 	 	0.375	%
	  Category 6: 	 	≥ 3.00 to 1.00 but 
 < 4.00 to 1.00	 	 	1.6251.875	%	 	 	0.6250.875	%
	  Category 7:	 	≥4.00
to 1.00 but <
4.50 to 1.00  	 	 	1.752.00	%	 	 	0.751.00	%
	  Category
8:  		≥
4.50 to 1.00			2.25	%			1.25	%

 

 

 

For purposes of the foregoing clauses (a), (b)
and (c),

 

(i)  if
at any time the Company fails to deliver the Financials by the date the Financials are due pursuant to Section 5.01, Category
78
shall be deemed applicable for the period commencing three (3) Business Days after the required date of delivery
and ending on the date which is three (3) Business Days after the Financials are actually delivered, after which the Category
shall be determined in accordance with the table above as applicable;

(ii)  adjustments,
if any, to the Category then in effect shall be effective three (3) Business Days after the Administrative Agent has received
the applicable Financials (it being understood and agreed that each change in Category shall apply during the period commencing
on the effective date of such change and ending on the date immediately preceding the effective date of the next such change);

(iii)  notwithstanding the foregoing, Category 1 shall be deemed to be applicable from and after the Effective Date (or, solely with respect
to Term A-2 Loans, from and after the Amendment No. 1 Effective Date) until the Administrative Agent’s receipt of the Financials
for the Company’s fiscal year ending on or about September 30, 2019 and adjustments to the Category then in effect shall
thereafter be effected in accordance with the preceding paragraphs; and

(iv)  notwithstanding
the foregoing (including the immediately preceding clause (iii)), Category 6 shall be deemed to be applicable from and after the
Term Loan Funding Date until the Administrative Agent’s receipt of the Financials for the Company’s first fiscal quarter
ending after the Term Loan Funding Date and adjustments to the Category then in effect shall thereafter be effected in accordance
with the preceding paragraphs (i) and (ii).;
and 

 

(v)  notwithstanding
the foregoing, it is understood and agreed that with respect to the Financials delivered by the Company for the fiscal quarter
of the Company ending on June 30, 2020 and the fiscal year of the Company ending on September 30, 2020, to the

 

    6

     

    

 

extent
that such Financials demonstrate that any of Category 6, Category 7, or Category 8 are applicable, then such Category shall be
applicable, but to the extent that such Financials demonstrate that any of Category 1, Category 2, Category 3, Category 4 or Category
5 are applicable, then such Category shall not be applicable and instead Category 6 shall be deemed to be applicable.

 

“Approved Electronic
Platform” has the meaning assigned to such term in Section 8.02(a).

 

“Approved Fund” has the
meaning assigned to such term in Section 9.04(b).

 

“Arranger”
means each of JPMorgan Chase Bank, N.A., Citizens Bank, N.A. and Wells Fargo Securities, LLC in its capacity as a joint bookrunner
and a joint lead arranger hereunder.

 

“Assignment
and Assumption” means an assignment and assumption agreement entered into by a Lender and an assignee (with the consent
of any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A
or any other form (including electronic records generated by the use of an electronic platform) approved by the Administrative
Agent.

 

“Attributable
Indebtedness” means, on any date, in respect of any capital lease of any Person, the capitalized amount thereof that
would appear on the balance sheet of such Person prepared as of such date in accordance with GAAP.

 

“Augmenting Lender” has
the meaning assigned to such term in Section 2.20.

 

“Auto Extension
Letter of Credit” has the meaning assigned to such term in Section 2.06(c).

 

“BA Equivalent”,
when used in reference to any Loan or Borrowing, means that such Loan bears, or the Loans comprising such Borrowing bear, interest
at a rate determined by reference to the BA Rate.

 

“BA Rate”
means, with respect to any Interest Period for any BA Equivalent Revolving Loan (a) in the case of any Lender named in Schedule
I of the Bank Act (Canada), the rate per annum determined by the Administrative Agent by reference to the average annual
rate applicable to Canadian Dollar bankers’ acceptances having a term comparable to such Interest Period quoted on the Reuters
Screen “CDOR Page” (or such other page as may replace such page on such screen for the purpose of displaying Canadian
interbank bid rates for Canadian Dollar bankers’ acceptances) at 10:00 a.m. on the date of the commencement of such Interest
Period (the “Canadian Dollar Offered Rate”) and (b) in the case of any other Lender, the sum of (A) the Canadian
Dollar Offered Rate plus (B) 0.10%; provided that if the BA Rate is at any time less than zero0.75%,
the BA Rate shall be deemed to be zero0.75%
for the purposes of this Agreement. If such rates do not appear on the Reuters Screen at such time, the Canadian Dollar Offered
Rate shall be the rate of interest determined by the Administrative Agent that is equal to the average (rounded upwards to the
nearest 1/100 of 1%) quoted by the banks listed in Schedule I of the Bank Act (Canada) that are also Lenders in respect
of Canadian Dollar bankers’ acceptances with a term comparable to such Interest Period.

 

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

 

    7

     

    

 

“Bail-In Legislation”
means, (a) with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing
law, regulation, rule or requirement for such EEA
Member Country from time to time which is described in the EU Bail-In Legislation Schedule.
and (b) with respect to the United Kingdom,
Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable
in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions
or their affiliates (other than through liquidation, administration or other insolvency proceedings).

 

“Bankruptcy
Event” means, with respect to any Person, such Person becomes the subject of a voluntary or involuntary bankruptcy or
insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors
or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination
of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence
in, any such proceeding or appointment or has had any order for relief in such proceeding entered in respect thereof, provided
that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest,
in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not
result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement
of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to
reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

 

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

 

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

 

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

 

“Bengal” means Milacron Holdings
Corp., a Delaware corporation.

 

“Bengal
Acquisition” means the acquisition of all of the outstanding equity interests of Bengal by the Company (through the merger
of its Subsidiary Bengal Holding and Bengal, with Bengal as the surviving corporation) pursuant to the Bengal Acquisition Agreement.

 

“Bengal
Acquisition Agreement” means the Agreement and Plan of Merger, dated as of July 12, 2019 (together with all exhibits,
schedules and disclosure letters thereto), by and among Bengal, the Company and Bengal Holding, as in effect on July 12, 2019.

 

“Bengal
Acquisition Agreement Representations” means such of the representations made by or with respect to Bengal and its subsidiaries
in the Bengal Acquisition Agreement as are material to the interests of the Lenders, but only to the extent that (x) the Company
(or a Subsidiary) has the right to terminate the Company’s (or such Subsidiary’s) obligations under the Bengal Acquisition
Agreement as a result of the failure of such representations to be accurate or (y) the Company (or a

 

    8

     

    

 

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

 

“Canadian Payment
Office” of the Administrative Agent means the office, branch, affiliate or correspondent bank of the Administrative Agent
for Canadian Revolving Loans as specified from time to time by the Administrative Agent to the Company and each Lender.

 

“Canadian Prime
Rate” means, on any day, the rate determined by the Administrative Agent to be the higher of (i) the rate equal to the
PRIMCAN Index rate that appears on the Bloomberg screen at 10:15 a.m. Toronto time on such day (or, in the event that the PRIMCAN
Index is not published by Bloomberg, any other information services that publishes such index from time to time, as selected by
the Administrative Agent in its reasonable discretion) and (ii) the average rate for 30 day Canadian Dollar bankers’ acceptances
that appears on the Reuters Screen CDOR Page (or, in the event such rate does not appear on such page or screen, on any successor
or substitute page or screen that displays such rate, or on the appropriate page of such other information service that publishes
such rate from time to time, as selected by the Administrative Agent in its reasonable discretion) at 10:15 a.m. Toronto time on
such day, plus 1% per annum; provided, that if any of the above rates shall be less than zero, such rate shall be deemed
to be zero for purposes of this Agreement. Any change in the Canadian Prime Rate due to a change in the PRIMCAN Index or the CDOR
Rate shall be effective from and including the effective date of such change in the PRIMCAN Index or CDOR Rate, respectively.

 

“Canadian Revolving Borrowing” means
a Borrowing of Canadian Revolving Loans.

 

“Canadian Revolving
Loan” means a Revolving Loan denominated in Canadian Dollars and made to a Canadian Borrower.

 

“Canadian Subsidiary”
means any Subsidiary that is organized under the laws of Canada or any province or territory thereof.

 

“Canadian Swingline
Loan” means a Loan made to a Canadian Borrower in Canadian Dollars pursuant to Section 2.05.

 

“CDOR Screen
Rate” means, for the relevant Interest Period, the Canadian deposit offered rate which, in turn means on any day the
rate per annum equal to the average rate for bankers acceptances for a tenor equal in length to such Interest Period as displayed
on Reuters Screen CDOR Page (or, in the event such rate does not appear on such Reuters page, any successor or substitute page
on such screen or service that displays such rate, or other appropriate page of such other information service that publishes such
rate as shall be selected from time to time by the Administrative Agent in consultation with the Company), as of 10:00 a.m. (Toronto,
Ontario time) on the Quotation Day for such Interest Period; provided that (x) if such rates are not available on the Reuters
Screen CDOR Page on any particular day, then the rate for such date will be the annual discount rate (rounded upward to the nearest
whole multiple of 1/100 of 1%) as of 10:00 a.m. (Toronto, Ontario time) on the Quotation Day for such Interest Period at which
a Canadian chartered bank listed on Schedule I of the Bank Act (Canada) (as selected by the Administrative Agent in consultation
with the Company) is then offering to purchase Canadian Dollar bankers’ acceptances accepted by it having such specified
term (or a term as closely as possible comparable to such specified term) and (y) if the CDOR Screen Rate is at any time less than
zero0.75%,
the CDOR Screen Rate shall be deemed to be zero0.75%
for the purposes of this Agreement.

 

“Change in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the
SEC thereunder as in effect on the Effective Date) other than any member or members of the Hillenbrand Family Group, of Equity
Interests representing more than 40% of the 

 

    11

     

    

 

changes
that are the substantial equivalent of each of the following changes are made to the corresponding provision of both the “LG
Facility Agreement” and the “Shelf Agreement”, in each case as defined in the Company’s most recent applicable
filings with the SEC and (2) the Administrative Agent shall have received from the Company an executed copy of each such amendment
making such conforming changes, in each case such amendment being confirmed by the Company in writing to be effective:

 

(I)    
clause (vii) will be amended to delete the reference to “$20,000,000 during any Reference Period” therein and
replace such reference with a reference to “ten percent (10%) of Consolidated EBITDA for any Reference Period (as calculated
without giving effect to the add-back of any item pursuant to this clause (vii))”; and

 

(II)  
a new clause (viii) will be inserted immediately following clause (vii) as follows: “and (viii) M&A, legal and
other out-of-pocket transaction fees and expenses of the Company and Bengal relating to the Bengal Acquisition and any financing
related thereto (including, without limitation, any issuance, incurrence or repayment of any Indebtedness by the Company, Bengal
or their respective Subsidiaries, the amortization of any deferred financing charges, and/or any refinancing transaction or modification
or amendment of any debt instrument (including any transaction undertaken but not completed) related thereto)”.

 

Notwithstanding
the foregoing, the following change shall be automatically deemed to be made to the definition of “Consolidated EBITDA”
on, and with effect as of, the date on which (1) changes that are the substantial equivalent of the following change is made to
the corresponding provision of both the “LG Facility Agreement” and the “Shelf Agreement”, in each case
as defined in the Company’s most recent applicable filings with the SEC and (2) the Administrative Agent shall have received
from the Company an executed copy of each such amendment making such conforming change, in each case such amendment being confirmed
by the Company in writing to be effective: 

 

(I)
clause (vii) will be amended and restated in its entirety to read as “(vii) (A) cash fees, costs, expenses, premiums, penalties
or other losses incurred in connection with any acquisition, any asset sale or other disposition, any recapitalization, any investment,
any issuance of equity interests by the Company or any issuance, incurrence or repayment of any Indebtedness by the Company or
its Subsidiaries, the amortization of any deferred financing charges, and/or any refinancing transaction or modification or amendment
of any debt instrument (including any transaction undertaken but not completed) and (B) non-recurring or unusual expenses, charges
or losses in an aggregate amount for clauses (A) and (B) not to exceed ten percent (10%) of Consolidated EBITDA for any Reference
Period (as calculated without giving effect to the add-back of any item pursuant to this clause (vii)) (provided that it is understood
and agreed that, in connection with determining the amount of non-recurring or unusual expenses, charges and losses (any such
expenses, charges and losses being referred to as “Specified Expenses” for purposes of this clause (vii)) that may
be added back to Consolidated EBITDA pursuant to subclause (B) of this clause (vii), (1) for the Reference Period ending June
30, 2020, (x) the Specified Expenses actually incurred by the Company and its Subsidiaries during the fiscal quarters of the Company
ending September 30, 2019, December 31, 2019 and March 31, 2020 shall be added back to Consolidated EBITDA and shall not be counted
against the foregoing 10% limitation and (y) the Specified Expenses actually incurred by the Company and its Subsidiaries during
the fiscal quarter of the Company ending June 30, 2020 shall be counted against, and shall be subject to, the foregoing 10% limitation,
(2) for the Reference Period ending September 30, 2020, (x) the Specified Expenses actually incurred by the Company and its Subsidiaries
during the fiscal quarters of the Company ending December 31, 2019 and March 31, 2020 shall be added back to Consolidated EBITDA
and shall not be counted against the foregoing 10% limitation and (y) the Specified Expenses actually

 

    14

     

    

 

incurred
by the Company and its Subsidiaries during the fiscal quarters of the Company ending June 30, 2020 and September 30, 2020 shall
be counted against, and shall be subject to, the foregoing 10% limitation and (3) for the Reference Period ending December 31,
2020, (x) the Specified Expenses actually incurred by the Company and its Subsidiaries during the fiscal quarter of the Company
ending March 31, 2020 shall be added back to Consolidated EBITDA and shall not be counted against the foregoing 10% limitation
and (y) the Specified Expenses actually incurred by the Company and its Subsidiaries during the fiscal quarters of the Company
ending June 30, 2020, September 30, 2020 and December 31, 2020 shall be counted against, and shall be subject to, the foregoing
10% limitation)”.

 

“Consolidated
Indebtedness” means at any time the aggregate Indebtedness of the Company and its Subsidiaries calculated on a consolidated
basis as of such time in accordance with GAAP.

 

“Consolidated
Interest Expense” means, with reference to any period, the interest payable on, and amortization of debt discount in
respect of, all Indebtedness of the Company and its Subsidiaries calculated on a consolidated basis for such period in accordance
with GAAP. In the event that the Company or any Subsidiary shall have completed a Material Acquisition or a Material Disposition
since the beginning of the relevant period, Consolidated Interest Expense shall be determined for such period on a pro forma basis
as if such acquisition or disposition, and any related incurrence or repayment of Indebtedness, had occurred at the beginning of
such period.

 

“Consolidated
Net Income” means, with reference to any period, the net income (or loss) of the Company and its Subsidiaries calculated
in accordance with GAAP on a consolidated basis (without duplication) for such period.

 

“Consolidated
Revenues” means, with reference to any period, total revenues of the Company and its Subsidiaries calculated in accordance
with GAAP on a consolidated basis as of such date.

 

“Consolidated
Tangible Assets” means, as of any date of determination thereof, Consolidated Total Assets minus the Intangible Assets
of the Company and its Subsidiaries on such date.

 

“Consolidated
Total Assets” means, as of the date of any determination thereof, total assets of the Company and its Subsidiaries calculated
in accordance with GAAP on a consolidated basis as of such date.

 

“Contractual
Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument
or other undertaking to which such Person is a party or by which it or any of its property is bound.

 

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

 

“Corporation
Tax Act 2009” means the Corporation Tax Act 2009 of the United Kingdom.

 

“Covenant
Relief Period” means the period commencing on the Amendment No. 4 Effective Date and ending on January 1, 2022.

 

    15

     

    

 

banks in such market (provided
that, if such rate shall be less than zero0.75%,
such rate shall be deemed to be zero0.75%
for the purposes of this Agreement) plus (ii) the Applicable Rate for Eurocurrency Borrowings.

 

“Event of Default”
has the meaning assigned to such term in Article VII.

 

“Excluded
Subsidiary” means (i) any Domestic Foreign Holdco Subsidiary and (ii) any Domestic Subsidiary of the Company so long
as (a) its acting as a Subsidiary Guarantor under this Agreement would violate any law, rule or regulation applicable to such Domestic
Subsidiary or would be prohibited by any contractual restriction or obligation in effect on the Effective Date and applicable to
such Domestic Subsidiary and (b) the Administrative Agent shall have received a certificate of a Financial Officer of the Company
to the effect that, based on advice of outside counsel, such Domestic Subsidiary acting as a Subsidiary Guarantor under this Agreement
would cause such a violation or would be so prohibited as described in the foregoing clause (a).

 

“Excluded
Swap Obligation” means, with respect to any Loan Party, any Specified Swap Obligation if, and to the extent that, all
or a portion of the Guarantee of such Loan Party of, or the grant by such Loan Party of a security interest to secure, such Specified
Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order
of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Loan
Party’s failure for any reason to constitute an ECP at the time the Guarantee of such Loan Party or the grant of such security
interest becomes effective with respect to such Specified Swap Obligation. If a Specified Swap Obligation arises under a master
agreement governing more than one swap, such exclusion shall apply only to the portion of such Specified Swap Obligation that is
attributable to swaps for which such Guarantee or security interest is or becomes illegal.

 

“Excluded
Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted
from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch
profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal
office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political
subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender (including a Participant treated as a
Lender pursuant to Section 9.04(c)), U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender
with respect to an applicable interest in a Loan, Letter of Credit or Commitment pursuant to a law in effect on the date on which
(i) such Lender acquires such interest in the Loan, Letter of Credit or Commitment (other than pursuant to an assignment request
by any Borrower under Section 2.19(b)) or (ii) such Lender changes its lending office, except in each case to the extent that,
pursuant to Section 2.17, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before
such Lender acquired the applicable interest in a Loan, Letter of Credit or Commitment or to such Lender immediately before it
changed its lending office, (c) any Canadian federal withholding Taxes imposed on the payment as a result of having been made to
a Recipient that, at the time of making such payment, (i) is a person with which a Loan Party does not deal at arm’s length
(for the purposes of the Income Tax Act (Canada)), or (ii) is a “specified shareholder” (as defined in subsection 18(5)
of the Income Tax Act (Canada)) of a Loan Party or does not deal at arm’s length (for the purposes of the Income Tax Act
(Canada)) with such a “specified shareholder” (other than where the non-arm’s length relationship arises, or
where the Recipient is a “specified shareholder” or does not deal at arm’s length with a “specified shareholder”,
in connection with or as a result of the Recipient having become a party to, received or perfected a security interest under or
received or enforced any rights under, a Loan Document), (d) Taxes attributable to such Recipient’s failure to comply with
Section 2.17(f) and (e) any U.S. federal withholding Taxes imposed under FATCA.

 

    20

     

    

 

“Interest
Election Request” means a request by the applicable Borrower to convert or continue a Borrowing in accordance with Section
2.08, which shall be substantially in the form attached hereto as Exhibit B-2 or any other form approved by the Administrative
Agent.

 

“Interest Payment
Date” means (a) with respect to any ABR Loan (other than a Swingline Loan), the last day of each March, June, September
and December and the Maturity Date, (b) with respect to any Eurocurrency Loan (including a Eurocurrency Swingline Loan) or BA Equivalent
Loan, the last day of each Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurocurrency
Borrowing or BA Equivalent Borrowing with an Interest Period of more than three months’ duration, each day prior to the last
day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period
and the Maturity Date and (c) with respect to any Swingline Loan (other than a Eurocurrency Swingline Loan), the day that such
Loan is required to be repaid and the Maturity Date.

 

“Interest
Period” means (a) with respect to any Eurocurrency Borrowing (other than a Swingline Loan) or a BA Equivalent Borrowing,
the period commencing on the date of such Borrowing and ending on the day that is seven (7) days (such seven (7) day period solely
in the case of a Eurocurrency Borrowing and not in the case of a BA Equivalent Borrowing) thereafter or the numerically corresponding
day in the calendar month that is one, two, three or six months (or, if acceptable to each Lender, nine or twelve months or a period
of less than one month (other than a seven (7) day period in the case of a Eurocurrency Borrowing)) thereafter, as the applicable
Borrower (or the Company on behalf of the applicable Borrower) may elect and (b) with respect to any Eurocurrency Swingline Loan,
the period commencing on the date of such Loan and ending on the date one (1) day or seven (7) days thereafter, as the applicable
Borrower may elect; provided, that (i) if any Interest Period would end on a day other than a Business Day, such Interest
Period shall be extended to the next succeeding Business Day unless, in the case of a Eurocurrency Borrowing (other than a Eurocurrency
Swingline Loan) or a BA Equivalent Borrowing, such next succeeding Business Day would fall in the next calendar month, in which
case such Interest Period shall end on the next preceding Business Day and (ii) any Interest Period pertaining to a Eurocurrency
Borrowing (other than a Eurocurrency Swingline Loan) or BA Equivalent Borrowing that commences on the last Business Day of a calendar
month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall
end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially
shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation
of such Borrowing.

 

“Interpolated
Rate” means, at any time, for any Interest Period, the rate per annum determined by the Administrative Agent (which determination
shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis
between: (a) the applicable Screen Rate for the longest period (for which the applicable Screen Rate is available for the applicable
currency) that is shorter than the Impacted Interest Period and (b) the applicable Screen Rate for the shortest period (for which
the applicable Screen Rate is available for the applicable currency) that exceeds the Impacted Interest Period, in each case, at
such time; provided that if any Interpolated Rate shall be less than zero0.75%,
such rate shall be deemed to be zero0.75%
for purposes of this Agreement. When determining the rate for a period which is less than the shortest period for which the applicable
Screen Rate is available, the applicable Screen Rate for purposes of clause (a) above shall be deemed to be the overnight screen
rate where “overnight screen rate” means the overnight rate determined by the Administrative Agent from such service
as the Administrative Agent may select.

 

“IRS” means the United States Internal
Revenue Service.

 

    25

     

    

 

pursuant to an Assignment and
Assumption or other documentation contemplated hereby. Unless the context otherwise requires, the term “Lenders” includes
the Swingline Lender and the Issuing Banks.

 

“Letter of Credit” means any
Commercial Letter of Credit or Standby Letter of Credit. “Leverage Ratio” has the meaning assigned to such term
in Section 6.10(a).

 

“LIBO
Rate” means, for any day and time, with respect to (a) any Eurocurrency Borrowing denominated in any Agreed Currency
(other than Canadian Dollars) and for any Interest Period, the London interbank offered rate as administered by ICE Benchmark
Administration (or any other Person that takes over the administration of such rate) for such Agreed Currency for a period equal
in length to such Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays
such rate or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such
screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time
to time as selected by the Administrative Agent in its reasonable discretion (in each case the “LIBOR Screen Rate”)
at approximately 11:00 a.m., London time, on the Quotation Day for such Agreed Currency and Interest Period; provided that,
if the LIBOR Screen Rate shall be less than zero0.75%,
such rate shall be deemed to be zero0.75%
for the purposes of this Agreement and (b) any Eurocurrency Borrowing denominated in Canadian Dollars and for any
applicable Interest Period, the CDOR Screen Rate on the Quotation Day for such currency and Interest Period; provided that,
if the CDOR Screen Rate as so determined would be less than zero0.75%,
such rate shall be deemed to be zero0.75%
for purposes of this Agreement; provided further that if the relevant Screen Rate shall not be available
at the applicable time for the applicable Interest Period (the “Impacted Interest Period”), then such Screen
Rate for such Agreed Currency and such Interest Period shall be the Interpolated Rate; provided, that, if any Interpolated
Rate shall be less than zero0.75%,
such rate shall be deemed to be zero0.75%
for the purposes of this Agreement. It is understood and agreed that if in any instance the LIBO Rate cannot be
determined pursuant to the terms of this definition, Section 2.14 will govern how to determine the LIBO Rate (or an alternative
rate of interest to be used in substitution for the LIBO Rate, as applicable) in such instance.

 

“LIBOR
Screen Rate” has the meaning assigned to such term in the definition of “LIBO Rate”.

 

“Lien”
means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security
interest in, on or of such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease
or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating
to such asset.

 

“Limited
Conditionality Acquisition” means any acquisition by the Company or any Subsidiary (a) that is permitted by this Agreement
and (b) for which the Company has determined, in good faith, that limited conditionality is reasonably necessary or advisable.

 

“Limited Conditionality
Acquisition Agreement” means, with respect to any Limited Conditionality Acquisition, the definitive acquisition agreement,
purchase agreement or similar agreement in respect thereof.

 

“Liquidity
Amount” means, as of any date of determination, the lesser of (i) the sum of (a) 100% of the unrestricted and unencumbered
cash and cash equivalents maintained by the Company and its Subsidiaries in the United States as of such date, plus (b)
70% of the unrestricted and unencumbered cash and cash equivalents maintained by the Company and its Subsidiaries outside of the

 

    27

     

    

 

United States as of such date
and (ii) $100,000,000; provided however, that amounts calculated under this definition shall exclude any amounts that would
not be considered “cash” or “cash equivalents” as recorded on the books of the Company or the applicable
Subsidiary.

 

Notwithstanding
the foregoing, the following change shall be automatically deemed to be made to the definition of “Liquidity Amount”
on, and with effect as of, the date on which (1) changes that are the substantial equivalent of the following change is made to
the corresponding provision of both the “LG Facility Agreement” and the “Shelf Agreement”, in each case
as defined in the Company’s most recent applicable filings with the SEC and (2) the Administrative Agent shall have received
from the Company an executed copy of each such amendment making such conforming change, in each case such amendment being confirmed
by the Company in writing to be effective: 

 

(I)
the reference to “$100,000,000” appearing therein will be replaced with a reference to “$175,000,000” in
its place.

 

“Loan
Documents” means this Agreement, each Borrowing Subsidiary Agreement, each Borrowing Subsidiary Termination, the Subsidiary
Guaranty, any promissory notes issued pursuant to Section 2.10(e), any Letter of Credit applications and any and all other agreements,
instruments, documents and certificates identified in Section 4.01 executed and delivered by a Loan Party to, or in favor of, the
Administrative Agent or any Lenders. Any reference in this Agreement or any other Loan Document to a Loan Document shall include
all appendices, exhibits or schedules thereto, and all amendments, restatements, supplements or other modifications thereto, and
shall refer to this Agreement or such Loan Document as the same may be in effect at any and all times such reference becomes operative.

 

“Loan Parties” means, collectively,
the Borrowers and the Subsidiary Guarantors.

 

“Loans”
means the loans made by the Lenders to any of the Borrowers pursuant to this Agreement.

 

“Local
Time” means (i) New York City time in the case of a Loan, Borrowing or LC Disbursement denominated in Dollars (other
than Designated Loans), (ii) Toronto, Canada time in the case of a Loan, Borrowing or LC Disbursement denominated in Canadian Dollars
made to, or for the account of, a Canadian Borrower and (iii) local time in the case of a Loan, Borrowing or LC Disbursement denominated
in a Foreign Currency (other than those denominated in Canadian Dollars and made to, or for the account of, a Canadian Borrower)
and Designated Loans (it being understood that such local time shall mean London, England time unless otherwise notified by the
Administrative Agent).

 

“Luxembourg
Borrower” means any Luxembourg Subsidiary that becomes a Subsidiary Borrower pursuant to Section 2.23 and that has not
ceased to be a Subsidiary Borrower pursuant to such Section.

 

“Luxembourg
Domiciliation Law” shall mean the Luxembourg law of May 31, 1999, as amended, regarding the domiciliation of companies.

 

“Luxembourg
Insolvency Event” shall mean, with respect to any Luxembourg Borrower, (i) a situation of cessation of payments (cessation
de paiements) and absence of access to credit (credit ébranlé) within the meaning of Article 437 of the
Luxembourg Commercial Code, (ii) insolvency proceedings (faillite) within the meaning of Articles 437 ff. of the Luxembourg
Commercial Code, (iii) controlled management (gestion contrôlée) within the meaning of the grand ducal regulation
of 24 May

 

    28

     

    

 

profits (within the meaning given by section
19 of the Corporation Tax Act 2009); or

 

(c)       a
Treaty Lender; or

 

(ii) a building
society (as defined for the purpose of section 880 of the ITA) making an advance under a Loan Document.

 

“Quotation
Day” means, with respect to any Eurocurrency Borrowing for any Interest Period, (i) if the currency is Pounds Sterling
or Canadian Dollars, the first day of such Interest Period, (ii) if the currency is euro, the day that is two (2) TARGET2 Days
before the first day of such Interest Period, and (iii) for any other currency, two (2) Business Days prior to the commencement
of such Interest Period (unless, in each case, market practice differs in the relevant market where the LIBO Rate for such currency
is to be determined, in which case the Quotation Day will be determined by the Administrative Agent in accordance with market practice
in such market (and if quotations would normally be given on more than one day, then the Quotation Day will be the last of those
days)).

 

“Recast
Regulation” means the regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency
proceedings (recast).

 

“Recipient”
means (a) the Administrative Agent, (b) any Lender and (c) any Issuing Bank, as applicable.

 

“Reference
Bank Rate” means the arithmetic mean of the rates (rounded upwards to four decimal places) supplied to the Administrative
Agent at its request by at least two Reference Banks as of the applicable time on the Quotation Day for Loans in the applicable
currency and the applicable Interest Period as the rate at which the relevant Reference Bank could borrow funds in the London (or
other applicable) interbank market in the relevant currency and for the relevant Interest Period, were it to do so by asking for
and then accepting interbank offers in an amount approximately equal to the principal amount of the Eurocurrency Borrowing to which
such Interest Period is to apply in that currency and for a period of time comparable to such Interest Period; provided
that if the Reference Bank Rate shall be less than zero0.75%,
such rate shall be deemed to be zero0.75%
for purposes of this Agreement. For the avoidance of doubt, the Reference Bank Rate shall be deemed to be unavailable unless rates
are provided by at least two Reference Banks.

 

“Reference
Banks” means such banks as may be appointed by the Administrative Agent and reasonably acceptable to the Company. No
Lender shall be obligated to be a Reference Bank without its consent.

 

“Reference
Period” has the meaning assigned to such term in the definition of “Consolidated EBITDA.”

 

“Register” has the meaning assigned
to such term in Section 9.04.

 

“Related Indemnified Party”
has the meaning assigned to such term in Section 9.03(b).

 

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

 

    33

     

    

 

“Required
Lenders” means, at any time, subject to Section 2.24, Lenders having Credit Exposures and unused Revolving Commitments,
Term A-1 Loan Commitments and Term A-2 Loan Commitments representing more than 50% of the sum of the total Credit Exposures and
unused Revolving Commitments, Term A-1 Loan Commitments and Term A-2 Loan Commitments at such time; provided that for purposes
of declaring the Loans to be due and payable pursuant to Article VII, and for all purposes after the Loans become due and
payable pursuant to Article VII or the Revolving Commitments expire or terminate, then, as to each Lender, clause (a) of
the definition of Swingline Exposure shall only be applicable for purposes of determining its Revolving Credit Exposure to the
extent such Lender shall have funded its participation in the outstanding Swingline Loans.

 

“Required Revolving Lenders”
means, at any time, subject to Section 2.24, Revolving Lenders having Revolving Credit Exposures and Revolving Commitments representing
more than 50% of the sum of the Total Revolving Credit Exposure and Revolving Commitments at such time; provided that for purposes
of declaring the Loans to be due and payable pursuant to Article VII, and for all purposes after the Loans become due and
payable pursuant to Article VII or the Revolving Commitments expire or terminate, then, as to each Lender, clause (a) of
the definition of Swingline Exposure shall only be applicable for purposes of determining its Revolving Credit Exposure to the
extent such Lender shall have funded its participation in the outstanding Swingline Loans.

 

“Required
Term Lenders” means, subject to Section 2.24, at any time, Term Lenders having outstanding Term Loans (or, prior to funding
of the Term Loans on the Term Loan Funding Date, Term Loan Commitments) representing more than 50% of the sum of the total outstanding
principal amount of Term Loans (or, prior to the funding of the Term Loans on the Term Loan Funding Date, Term Loan Commitments)
at such time.

 

“Resolution
Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

 

“Responsible
Officer” means the chief executive officer, president, a Financial Officer or a member of the senior management team
of the Company or any other Person designated by any such Person in writing to the Administrative Agent and reasonably acceptable
to the Administrative Agent.

 

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

 

“Reuters”
means Thomson Reuters Corp., Refinitiv or any successor thereto.

 

“Revolving
Commitment” means, with respect to each Lender, the commitment of such Lender to make Revolving Loans and to acquire
participations in Letters of Credit and Swingline Loans hereunder, in the amount set forth on Schedule 2.01 opposite such
Lender’s name under the heading “Revolving Commitment”, or in the Assignment and Assumption contemplated hereby
pursuant to which such Lender shall have assumed its Revolving Commitment, as applicable, and giving effect to (a) any reduction
in such amount from time to time pursuant to Section 2.09, (b) any increase from time to time pursuant to Section 2.20 and (c)
any reduction or increase in such amount from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04.
The initial aggregate amount of the Revolving Commitments on the Effective Date is $900,000,000.

 

    34

     

    

 

under the relevant Treaty and
shall not be treated as including any procedural formalities that need to be satisfied in relation to that Treaty.

 

“Treaty
State” means a jurisdiction having a double taxation agreement (a “Treaty”) with the United Kingdom
which makes provision for full exemption from tax imposed by the United Kingdom on interest.

 

“Type”,
when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising
such Borrowing, is determined by reference to the Adjusted LIBO Rate, the Alternate Base Rate, the BA Rate or the Canadian Prime
Rate.

 

“UK
Borrower” means any UK Subsidiary that becomes a Subsidiary Borrower pursuant to Section 2.23 and that has not ceased
to be a Subsidiary Borrower pursuant to such Section.

 

“UK
Bank Levy” means the UK Tax known as the bank levy, introduced by the United Kingdom Finance Act 2011, in such form as
it may be imposed and/or modified from time to time.

 

“UK
Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time
to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the
FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes
certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment
firms.

 

“UK Insolvency Event” means:

 

(a)                  
a UK Relevant Entity is unable or admits inability to pay its debts as they fall due or is deemed to or declared to be unable
to pay its debts under applicable law, suspends or threatens to suspend making payments on any of its debts or, by reason of actual
or anticipated financial difficulties, commences negotiations with one or more of its creditors (other than any Credit Party under
this Agreement) with a view to rescheduling any of its indebtedness. In this context, “unable to pay its debts” means
that there are grounds on which such UK Relevant Entity would be deemed to be unable to pay its debts (as defined in Section 123(1)
of the Insolvency Act 1986 of the United Kingdom) or on which a court would be satisfied that the value of such UK Relevant Entity’s
assets is less than the amount of its liabilities, taking into account its contingent and prospective liabilities (as such term
would be construed for the purposes of Section 123(2) of the Insolvency Act 1986);

 

(b)                 
a moratorium is declared in respect of any indebtedness of any UK Relevant Entity; provided that, if a moratorium
occurs, the ending of the moratorium will not remedy any Event of Default caused by such moratorium;

 

(c)                  
any corporate action, legal proceedings or other formal procedure or step is taken in relation to:

 

(i)       the
suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration or reorganization (by way of
voluntary arrangement, scheme of arrangement or otherwise), but excluding any solvent reorganization or liquidation not prohibited
by this Agreement, of any UK Relevant Entity;

 

    42

     

    

 

(ii)            
a composition, compromise, assignment or arrangement with any creditor of any UK Relevant Entity;

 

(iii)          
the appointment of a liquidator, receiver, administrative receiver, administrator, compulsory manager or other similar officer
in respect of any UK Relevant Entity, or any of its assets; or

 

(iv)          
enforcement of any Lien securing Indebtedness for borrowed money in excess of £25,000,000 over any assets of any UK
Relevant Entity,

 

or any analogous procedure or
step is taken in any jurisdiction in respect of any UK Relevant Entity, save that this paragraph (c) shall not apply to any action,
proceeding, procedure or formal step which is frivolous or vexatious and is discharged, stayed or dismissed within 21 days of commencement;
or

 

(d)       any
expropriation, attachment, sequestration, distress or execution or any analogous process in any jurisdiction affects any asset
or assets of a UK Relevant Entity, in each such case, where any such actions or process described in this clause (d) would reasonably
be expected to result in a Material Adverse Effect.

 

“UK Non-Bank Lender” means:

 

(a)   
a Lender (which falls within clause (i)(b) of the definition of Qualifying Lender) which is a party to this Agreement and
which has provided a Tax Confirmation to the Company; and

 

(b)   
where a Lender becomes a Party after the day on which this Agreement is entered into, a Lender which gives a Tax Confirmation
in the Assignment and Assumption or Augmenting Lender Supplement (as the case may be) which it executes on becoming a Party.

 

“UK
Relevant Entity” means any Subsidiary Borrower that is a UK Subsidiary or any other Borrower capable of becoming subject
of an order for winding-up or administration under the Insolvency Act 1986.

 

“UK
Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the
resolution of any UK Financial Institution.

 

“UK Subsidiary” means any Subsidiary
organized under the laws of England and Wales.

 

“UK
Tax” means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest
payable in connection with any failure to pay or any delay in paying any of the same) imposed by the government of the United Kingdom
or any political subdivision thereof.

 

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

 

“U.S.
Person” means a “United States person” within the meaning of Section 7701(a)(30) of the Code.

 

“U.S. Special Resolution Regime”
has the meaning assigned to it in Section 9.19.

 

“U.S.
Tax Compliance Certificate” has the meaning assigned to such term in Section 2.17(f)(ii)(B)(3).

 

    43

     

    

 

“VAT”
means:

 

(a)                  
any tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC
Directive 2006/112); and

 

(b)                 
any other tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied
in addition to, such tax referred to in paragraph (a) above, or imposed elsewhere.

 

“Value
Added Tax Act 1994” means the Value Added Tax Act 1994 of the United Kingdom.

 

“Withdrawal
Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer
Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA.

 

“Withholding Agent”
means any Loan Party and the Administrative Agent.

 

“Write-Down
and Conversion Powers” means, (a)
with respect to any EEA Resolution Authority, the
write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable
EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.,
and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to
cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which
that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other
person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend
any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary
to any of those powers.

 

SECTION 1.02.Classification
of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving
Loan”) or by Type (e.g., a “Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency
Revolving Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”)
or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “Eurocurrency
Revolving Borrowing”).

 

SECTION
1.03. Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the
terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter
forms. The words “include”, “includes” and “including” shall be deemed to be followed by
the phrase “without limitation”. The word “will” shall be construed to have the same meaning and
effect as the word “shall”. The word “law” shall be construed as referring to all statutes, rules,
regulations, codes and other laws (including official rulings and interpretations thereunder having the force of law or with
which affected Persons customarily comply), and all judgments, orders and decrees, of all Governmental Authorities. Unless
the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document in any Loan
Document (including Exhibits and Schedules) shall be construed as referring to such agreement, instrument or other document
as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments,
restatements, supplements or modifications set forth herein), (b) any definition of or reference to any statute, rule or
regulation shall be construed as referring thereto as from time to time amended, supplemented or otherwise modified
(including by succession of comparable successor laws), (c) any reference herein to any Person shall be construed to include
such Person’s successors and assigns (subject to any restrictions on assignment set forth herein) and, in the case of
any Governmental Authority, any other Governmental Authority that shall have succeeded to any or all functions thereof, (d)
the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be
construed to refer to this Agreement in its entirety and not to any particular provision hereof, (e) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and
Schedules to, this Agreement and (f) the words “asset” and “property” shall be construed to have the
same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash,
securities, accounts and contract rights.

 

    44

     

    

 

SECTION 1.04.Accounting
Terms; GAAP; Pro Forma Calculations. (a) Except as otherwise expressly provided herein, all terms of an accounting or financial
nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Company notifies
the Administrative Agent that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring
after the Effective Date in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent
notifies the Company that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether
any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted
on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall
have been withdrawn or such provision amended in accordance herewith. Notwithstanding any other provision contained herein, (i)
all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred
to herein shall be made (x) without giving effect to any election under Accounting Standards Codification 825-10-25 (or any other
Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness
or other liabilities of the Company or any Subsidiary at “fair value”, as defined therein and (y) without giving effect
to any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or
any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such
Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the
full stated principal amount thereof, net of discounts and premiums and (ii) any obligations relating to a lease that was accounted
for by such Person as an operating lease as of July 27, 2012 and any similar lease entered into after July 27, 2012 by such Person
shall be accounted for as obligations relating to an operating lease and not as obligations relating to a capital lease; provided
however, that the Company may elect, with notice to Administrative Agent to treat operating leases as capital leases in accordance
with GAAP as in effect from time to time and, upon such election, and upon any subsequent change to GAAP therefor, the parties
will enter into negotiations in good faith in an effort to preserve the original intent of the financial covenants set forth herein
(it being understood and agreed that the treatment of operating leases be interpreted on the basis of GAAP as in effect on July
27, 2012 until such election shall have been withdrawn or such provision amended in accordance herewith).

 

(b) AllExcept
as otherwise provided herein, all pro forma computations required to be made hereunder giving effect to any
acquisition or disposition, or issuance, incurrence, assumption or repayment of Indebtedness, or other transaction shall in
each case be calculated giving pro forma effect thereto (and, in the case of any pro forma computation made hereunder to
determine whether such acquisition or disposition, or issuance, incurrence, assumption or repayment of Indebtedness, or other
transaction is permitted to be consummated hereunder, to any other such transaction consummated since the first day of the
period covered by any component of such pro forma computation and on or prior to the date of such computation) as if such
transaction had occurred on the first day of the period of four consecutive fiscal quarters ending with the most recent
fiscal quarter for which financial statements shall have been delivered pursuant to Section 5.01(a) or 5.01(b) (or, prior to
the delivery of any such financial statements, ending with the last fiscal quarter included in the financial statements
referred to in Section outstanding to it and no Foreign Subsidiary Borrower shall be responsible for any other
Borrower’s failure to pay any interest due hereunder.

 

    45

     

    

 

(l)       Interest
in respect of Loans denominated in Dollars shall be paid in Dollars, and interest in respect of Loans denominated in a Foreign
Currency shall be paid in such Foreign Currency.

 

SECTION 2.14.Alternate Rate of Interest.

 

(a)                If,
on the earlier of a Quotation Day and two (2) Business Days prior to the commencement of any Interest Period for a Eurocurrency
Borrowing or a BA Equivalent Borrowing:

 

(x)               
the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that adequate
and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable (including, without limitation,
because the LIBOR Screen Rate is not available or published on a current basis), for a Loan in the applicable currency or for the
applicable Interest Period;

 

( )                  
the Administrative Agent shall seek to determine the applicable LIBO Rate on the Quotation Day for any Interest Period
for a Eurocurrency Borrowing pursuant to the definition of “LIBO Rate”, such LIBO Rate shall not be available for
such Interest Period and/or for the applicable currency with respect to such Eurocurrency Borrowing for any reason, then the LIBO
Rate shall be the Reference Bank Rate for such Interest Period for such Eurocurrency Borrowing; provided that if the Reference
Bank Rate shall be less than zero0.75%,
such rate shall be deemed to be zero0.75%
for purposes of this Agreement; provided, further, however, that if less than two Reference
Banks shall supply a rate to the Administrative Agent for purposes of determining the LIBO Rate for such Eurocurrency Borrowing;
or in the case of a BA Equivalent Borrowing, that adequate and reasonable means do not exist for ascertaining the BA Rate for
such Interest Period; or

 

(y)               
the Administrative Agent is advised by the Required Lenders that (i) in the case of a Eurocurrency Borrowing, the Adjusted
LIBO Rate or the LIBO Rate, as applicable, for a Loan in the applicable currency or for such Interest Period, or (ii) in the case
of a BA Equivalent Borrowing, the BA Rate for such Interest Period, in either case will not adequately and fairly reflect the cost
to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period;

 

then the Administrative Agent shall
give notice thereof to the applicable Borrower and the Lenders by telephone or telecopy as promptly as practicable thereafter
and, until the Administrative Agent notifies the applicable Borrower and the Lenders that the circumstances giving rise to
such notice no longer exist,

 

(A) any
Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurocurrency
Borrowing shall be ineffective and, unless repaid, such Borrowing shall:

 

    68

     

    

 

Sanctions. The representations and
warranties given in this Section 3.14 shall not be given (i) by any Loan Party or (ii) to any Lender to the extent that any
such representation and warranty would result in any violation of, conflict with or liability under EU Regulation (EC)
2271/96, section 7 of the German Foreign Trade Ordinance (Außenwirtschaftsverordnung) or a similar anti-boycott
statute.

 

SECTION 3.15.EEAAffected
Financial Institutions. No Borrower is an EEAAffected
Financial Institution.

 

SECTION 3.16.Solvency.
As of the Term Loan Funding Date, and immediately after giving effect to the Bengal Transactions and the incurrence of the indebtedness
and obligations being incurred in connection with this Agreement and the Bengal Transactions on the Term Loan Funding Date, that,
with respect to the Company and its Subsidiaries on a consolidated basis, (a) the sum of the liabilities of the Company and its
Subsidiaries, taken as a whole, does not exceed the present fair saleable value of the assets of the Company and its Subsidiaries,
taken as a whole; (b) the capital of the Company and its Subsidiaries, taken as a whole, is not unreasonably small in relation
to the business of the Company and its Subsidiaries, taken as a whole, contemplated on the date hereof and (c) the Company and
its Subsidiaries, taken as a whole, do not intend to incur, or believe that they will incur, debts including current obligations
beyond their ability to pay such debt as they mature in the ordinary course of business. For the purposes of this Section 3.16,
the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances
existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective
of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5).

 

ARTICLE IV

 

Conditions

 

SECTION 4.01.Effective
Date. The effectiveness of the amendment and restatement of the Existing Credit Agreement in the form of this Agreement, and
the obligations of the Lenders to make Loans (other than the Term Loans) and of the Issuing Banks to issue Letters of Credit hereunder,
shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with
Section 9.02):

 

(a)                  
The Administrative Agent (or its counsel) shall have received (i) from each party hereto either (A) a counterpart of this
Agreement signed on behalf of such party or (B) written evidence satisfactory to the Administrative Agent (which may include telecopy
or electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement
and (ii) duly executed copies of the Loan Documents and such other customary closing documents and certificates as the Administrative
Agent shall reasonably request in connection with the Transactions, all in form and substance reasonably satisfactory to the Administrative
Agent and its counsel and as further described in the list of closing documents attached as Exhibit E (excluding those items
set forth in Part E of such Exhibit E).

 

(b)                  The
Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders
and dated the Effective Date) (i) of Skadden, Arps, Slate, Meagher & Flom LLP, counsel for the Loan Parties, (ii) of
Faegre Baker Daniels LLP, special Indiana counsel for the Loan Parties, (iii) Baker & McKenzie, Luxembourg counsel for
the Loan Parties, (iv) Baker & McKenzie Zurich, Swiss counsel for the Loan Parties, (v) Osler Hoskin & Harcourt LLP,
Canadian counsel for the Loan Parties, (vi) McInnes Cooper, Nova Scotia counsel for the Loan Parties, (vii) Skadden, Arps,
Slate, Meagher & Flom (UK) 

 

    93

     

    

 

and (II) the fiscal quarters ended December 31, 2018, March 31, 2019 and June 30, 2019 and (2)
Bengal has satisfied the foregoing applicable requirements with respect to (I) the fiscal year ended December 31, 2018 and
(II) the fiscal quarters ended March 31, 2019 and June 30, 2019.

 

(i)                
The Administrative Agent shall have received (i) a pro forma condensed combined balance sheet of the Company and its Subsidiaries
as of June 30, 2019, prepared after giving effect to the Bengal Transactions (including the acquisition of Bengal) as if the Bengal
Transactions had occurred as of such date and (ii) pro forma condensed combined statements of income of the Company and its Subsidiaries
as of and for (A) the twelve-month period ending on September 30, 2018 and (B) the nine-month period ending on June 30, 2019, prepared
after giving effect to the Bengal Transactions (including the acquisition of Bengal) as if the Bengal Transactions had occurred
as of October 1, 2017; provided that the pro forma financial information on form S-4 filed on October 11, 2019 by the Company
has satisfied the foregoing requirements. 

 

(j)                
All fees and expenses due and payable to the Administrative Agent and the Lenders that are required to be paid on or prior
to the Term Loan Funding Date shall have been paid or shall have been authorized to be deducted from the proceeds of the Term Loans,
so long as any such fees or expenses have been invoiced not less than three (3) Business Days prior to the Term Loan Funding Date
(except as otherwise reasonably agreed by the Company).

 

(k)               
The Term Loan Commitment Expiration Date shall not have occurred.

 

The Administrative Agent shall be
entitled to rely on a certificate signed by the President, a Vice President or a Financial Officer of the Company certifying, in
the manner described in such certificate, as to the accuracy of the matters set forth in clauses (b) through (f) of this Section
4.02 in making a determination of the satisfaction of the conditions precedent set forth in such clauses. The Administrative Agent
shall notify the Company and the Lenders of the Term Loan Trigger Date, and such notice shall be conclusive and binding.

 

SECTION 4.03.
Each Credit Event. The obligation of each Lender to make a Loan (other than (i) a Term Loan (which shall only be subject
to the conditions set forth in Section 4.02) and (ii) an Acquisition-Related Incremental Term Loan made in accordance with, and
subject to the terms and conditions of, Section 2.20) on the occasion of any Borrowing, and of the Issuing Banks to issue, amend
or extend any Letter of Credit, is subject to the satisfaction of the following conditions:

 

(a)               
The representations and warranties of the Borrowers set forth in this Agreement shall be true and correct in all material
respects (provided that any representation or warranty qualified by materiality or Material Adverse Effect shall be true and correct
in all respects) on and as of the date such Loan is made or the date of issuance, amendment or extension of such Letter of Credit,
as applicable (except to the extent any such representation or warranty expressly relates to an earlier date, in which case such
representation or warranty shall be true and correct as of such earlier date).

 

(b)               
At the time of and immediately after giving effect to the making of a Loan on the occasiondate
of such Borrowing or the issuance, amendment or extension of such Letter of Credit, as applicable, no Default or
Event of Default shall have occurred and be continuing.

 

(c)               
At the time
of and immediately after giving effect to the making of a Loan on the date of such Borrowing (including the application of proceeds
thereof), the aggregate amount of unrestricted and unencumbered cash and cash equivalents of the Company and its Subsidiaries
shall not exceed $350,000,000; provided that such amount may be exceeded to the

 

    96

     

    

 

extent
that the Company will require such excess amount to effect acquisitions or other investments or make other payments in respect
of other general corporate purposes, in each case within ten (10) Business Days after the date such Loan is made.

 

The making
of a Loan (other than (i) a Term Loan and (ii) an Acquisition-Related Incremental Term Loan made in accordance with, and subject
to the terms and conditions of, Section 2.20) on the occasion of any Borrowing and each issuance, amendment or extension of a Letter
of Credit shall be deemed to constitute a representation and warranty by the Borrowers on the date thereof as to the matters specified
in paragraphs (a) and, (b)
and (c) of this Section.

 

SECTION
4.04.Designation of a Subsidiary Borrower. The designation of a Subsidiary Borrower pursuant to Section 2.23 is subject
to the condition precedent that the Company or such proposed Subsidiary Borrower shall have furnished or caused to be furnished
to the Administrative Agent:

 

(a)             
Copies, certified by the Secretary or Assistant Secretary of such Subsidiary, of its Board of Directors’ resolutions
(and resolutions of other bodies, if any are deemed necessary by counsel for the Administrative Agent) approving the Borrowing
Subsidiary Agreement and any other Loan Documents to which such Subsidiary is becoming a party and such documents and certificates
as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of
such Subsidiary;

 

(b)            
An incumbency certificate, executed by the Secretary or Assistant Secretary of such Subsidiary, which shall identify by
name and title and bear the signature of the officers of such Subsidiary authorized to request Borrowings hereunder and sign the
Borrowing Subsidiary Agreement and the other Loan Documents to which such Subsidiary is becoming a party, upon which certificate
the Administrative Agent and the Lenders shall be entitled to rely until informed of any change in writing by the Company or such
Subsidiary;

 

(c)             
Opinions of counsel to such Subsidiary, in form and substance reasonably satisfactory to the Administrative Agent and its
counsel, with respect to the laws of its jurisdiction of organization and such other matters as are reasonable and customary and
addressed to the Administrative Agent and the Lenders; and

 

(d)            
Any promissory notes requested by any Lender, and any other instruments and documents reasonably requested by the Administrative
Agent in connection with applicable laws, rules and regulations.

 

(e)             
Any documentation and other information with respect to such proposed Subsidiary Borrower that is reasonably requested by
the Administrative Agent or any of the Lenders (acting through the Administrative Agent) at least three Business Days in advance
of the proposed effective date of such designation in connection with requirements by regulatory authorities under applicable “know-your-customer”
and anti-money laundering rules and regulations, including the Patriot Act and, to the extent such Borrower qualifies as a “legal
entity customer” under the Beneficial Ownership Regulation, the Beneficial Ownership Regulation.

 

    97

     

    

 

(s)                
with respect to any real property, immaterial title defects or irregularities that do not, individually or in the aggregate,
materially impair the use of such real property;

 

(t)                
Liens on any cash earnest money deposits or other escrow arrangements made in connection with any letter of intent or purchase
agreement;

 

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

 

(v)               
Liens arising out of sale and leaseback transactions;

 

(w)             
customary rights of first refusal, “tag along” and “drag along” rights, and put and call arrangements
under joint venture agreements;

 

(x)               
Liens on treasury stock of the Company;

 

(y)               
Liens (x) in favor of collecting or payor banks having a right of setoff, revocation, refund or chargeback with respect
to money or instruments on deposit with or in possession of such bank, (y) attaching to commodity trading accounts or other brokerage
accounts incurred in the ordinary course of business or (z) in favor of banking institutions arising as a matter of law or standard
business terms and conditions encumbering deposits (including the right of setoff) and which are within the general parameters
customary in the banking industry;

 

(z)               
Liens securing obligations (contingent or otherwise) of the Company or any Subsidiary existing or arising under any Swap
Agreement;

 

(aa)             other Liens
securing liabilities or assignments of rights to receive income in an aggregate amount at any
time outstanding not to exceed the(x)
during the Covenant Relief Period, $50,000,000 and (y) following the termination of the Covenant Relief Period, the
greater of (i) $150,000,000 and (ii) 15% of Consolidated Tangible Assets (calculated as of the end of the immediately preceding
fiscal quarter for which the Company’s financial statements were most recently delivered pursuant to Section 5.01(a) or
(b) or, if prior to the date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a) or
(b), the most recent financial statements referred to in Section 3.04(a)) at any time outstanding; provided  that, for
the avoidance of doubt, no Default or Event of Default shall be deemed to have occurred if, at the time of the creation, incurrence,
assumption or initial existence thereof, such Liens were permitted to be incurred pursuant to this clause (aa) notwithstanding
a decrease after such time in the basket amount permitted under this clause (aa) as a result of a decrease in Consolidated Tangible
Assets;

 

(bb)            Liens on property
or assets deposited with a trustee or paying agent or otherwise segregated or held in trust or under an escrow or other funding
arrangement with respect to the Specified Senior Notes Indebtedness prior to the consummation of the Bengal Acquisition (or during
the period from the Effective Date until the date that is 90 days after the termination of the Bengal Acquisition Agreement); and

 

(cc)            Liens on property
or assets deposited with a trustee or paying agent or otherwise segregated or held in trust or under an escrow or other funding
arrangement for the sole purpose of repurchasing, redeeming, defeasing, repaying, satisfying and discharging or otherwise acquiring
or retiring Indebtedness.

 

    104

     

    

 

have executed and delivered
to the Administrative Agent a confirmation to that effect reasonably satisfactory to the Administrative Agent); and

 

(d)       the
Company may Dispose of its Treasury Stock.

 

SECTION
6.05.Restricted Payments. The Company will not, and will not permit any of its Subsidiaries to, declare or make, directly
or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that:

 

(a)             
each Subsidiary may make Restricted Payments to the Company and to other Subsidiaries (and, in the case of a Restricted
Payment by a non-wholly-owned Subsidiary, such Restricted Payment may be made to each other owner of capital stock or other equity
interests of such Subsidiary on a pro rata basis based on their relative ownership interests);

 

(b)            
the Company and each Subsidiary may declare and make dividend payments or other distributions payable solely in the common
stock or other common equity interests of such Person;

 

(c)             
the Company and each Subsidiary may purchase, redeem or otherwise acquire shares of its common stock or other common equity
interests or warrants or options to acquire any such shares with the proceeds received from the substantially concurrent issue
of new shares of its common stock or other common equity interests;

 

(d)            the
Company and each Subsidiary may (i) make distributions to or
payments on behalf of current and former employees, officers, or directors of the Company and its Subsidiaries
(or any spouses, ex-spouses, trusts or estates of any of the foregoing) on account
of exercises, purchases, redemptions or other acquisitions of Equity Interests
of the Company or its Subsidiaries held by such Persons; and (including
to pay for the taxes payable by such Persons in connection with a grant or award of Equity Interests of the Company or its Subsidiaries
or upon the vesting thereof) and (ii) repurchase Equity Interests issued to current or former employees, officers, directors or
managers upon death, disability or termination of employment of such person or pursuant to the terms of any subscription, stockholder
or other agreement or plan approved by Company’s or such Subsidiary's board of directors (or any committee thereof); 

 

(e)             solely
during the Covenant Relief Period, the Company may declare and pay during each of the Company’s 2020 fiscal year, 2021 fiscal
year and 2022 fiscal year, its regularly scheduled cash dividends to its stockholders (x) with respect to the Company’s
2020 fiscal year, in an amount up to and including $0.85 per share, (y) with respect to the Company’s 2021 fiscal year,
in an amount consistent with the aggregate amount of dividends paid in the Company’s 2020 fiscal year plus an additional
amount equal to $0.01 per share in excess of the aggregate amount paid in the Company’s 2020 fiscal year pursuant to the
foregoing clause (x) and (z) with respect to the Company’s 2022 fiscal year, in an amount consistent with the aggregate
amount of dividends paid in the Company’s 2021 fiscal year plus an additional amount equal to $0.01 per share in excess
of the aggregate amount paid in the Company’s 2021 fiscal year pursuant to the foregoing clause (y); provided that (i) the
Company is in compliance with the Leverage Ratio set forth in Section 6.10(a) (calculated as of the end of the immediately preceding
fiscal quarter for which the Company’s financial statements were most recently delivered pursuant to Section 5.01(a) or
(b)) on a pro forma basis immediately after giving effect to such payment and the

 

    108

     

    

 

incurrence
of any Indebtedness incurred to make such payment and (ii) immediately after giving effect to such payment, no Event of Default
would exist;

 

(f)              
solely during the Covenant Relief Period, the Company may declare and pay cash dividends to its stockholders and purchase,
redeem or otherwise acquire shares of its capital stock or warrants, rights or options to acquire any such shares for cash; provided
that (i) on a pro forma basis, immediately after giving effect to such proposed action in this clause (f) and the incurrence of
any Indebtedness incurred to take any such proposed action in this clause (f) the Leverage Ratio (calculated as of the end of the
immediately preceding fiscal quarter for which the Company’s financial statements were most recently delivered pursuant to
Section 5.01(a) or (b)) is less than or equal to 3.50 to 1.00 and (ii) immediately after giving effect to such proposed action
in this clause (f), no Event of Default would exist; and 

 

(g)            
(e) solely following the termination
of the Covenant Relief Period, the Company may declare and pay cash dividends to its stockholders and purchase,
redeem or otherwise acquire shares of its capital stock or warrants, rights or options to acquire any such shares for cash; provided
that (i) the Company is in compliance with the Leverage Ratio set forth in Section 6.10(a) (calculated
as of the end of the immediately preceding fiscal quarter for which the Company’s financial statements were most recently
delivered pursuant to Section 5.01(a) or (b)) on a pro forma basis immediately after giving effect to such proposed
action in this clause (g) and the incurrence of any Indebtedness incurred to take any such proposed
action in this clause (g) and (ii) immediately after giving effect to such proposed action in this clause (g), no
Event of Default would exist.

 

SECTION
6.06.Change in Nature of Business. The Company will not, and will not permit any of its Subsidiaries to, enter into any
material line of business if, after giving effect thereto, the business of the Company and its Subsidiaries, taken as a whole,
would be substantially different from the business in which the Company and its Subsidiaries, taken as a whole, are presently engaged,
provided that this Section 6.06 shall not prohibit the Company or its Subsidiaries from entering into (x) any line of business
that is reasonably related, incidental, ancillary or complementary to, or any reasonable extension, development or expansion of,
the business in which the Company and its Subsidiaries, taken as a whole, are presently engaged, or (y) any other non-core incidental
businesses acquired in connection with any acquisition or investment not prohibited hereunder.

 

SECTION 6.07.[Intentionally Omitted].

 

SECTION
6.08.Burdensome Agreements. The Company will not, and will not permit any of its Subsidiaries to, enter into any Contractual
Obligation that: limits the ability (a) of any Subsidiary to make Restricted Payments to the Company; (b) of any Subsidiary to
Guarantee the Indebtedness of the Borrowers under the Loan Documents or (c) of the Company or any Subsidiary to create, incur,
assume or suffer to exist Liens on property of such Person to secure the obligations of the Loan Parties under the Loan Documents,
other than, in each case limitations and restrictions:

 

(a)             
set forth in this Agreement and any other Loan Document;

 

(b)            
on subletting or assignment of any leases or licenses of the Company or any Subsidiary or on the assignment of a Contractual
Obligation or any rights thereunder or any other customary non-assignment provisions, in each case entered into in the ordinary
course of business;

 

    109

     

    

 

Senior Notes Indebtedness; provided
that (a) the release of the proceeds of the Specified Senior Note Indebtedness to the Company and its Subsidiaries is contingent
upon the consummation of the Bengal Acquisition and, pending such release, such proceeds are held in escrow (and, if the Bengal
Acquisition Agreement is terminated prior to the consummation of the Bengal Acquisition or if the Bengal Acquisition is otherwise
not consummated by the date specified in the Specified Senior Notes Indenture, such proceeds shall be promptly applied to satisfy
and discharge all obligations of the Company and its Subsidiaries in respect of the Specified Senior Notes Indebtedness) or (b)
the Specified Senior Notes Indenture contains a “special mandatory redemption” provision (or other similar provision)
or otherwise permits the Specified Senior Notes Indebtedness to be redeemed or prepaid if the Bengal Acquisition is not consummated
by the date specified in the Specified Senior Notes Indenture (and if the Bengal Acquisition Agreement is terminated in accordance
with its terms prior to the consummation of the Bengal Acquisition or the Bengal Acquisition is otherwise not consummated by the
date specified in the Specified Senior Notes Indenture, the Specified Senior Notes Indebtedness is so redeemed or prepaid within
90 days of such termination or such specified date, as the case may be).”

 

Notwithstanding
the foregoing, the following change shall be automatically deemed to be made to Section 6.10(a) on the date on which (1) a change
that is the substantial equivalent of the following change is made to the corresponding provision of both the “LG Facility
Agreement” and the “Shelf Agreement”, in each case as defined in the Company’s most recent applicable filings
with the SEC and (2) the Administrative Agent shall have received from the Company an executed copy of each such amendment making
such conforming change, in each case such amendment being confirmed by the Company in writing to be effective:

 

The first
sentence of Section 6.10(a) shall be restated in its entirety, effective as of December 31, 2019, as follows:

 

“The
Company will not permit the ratio (the “Leverage Ratio”), determined as of the last day of each of its fiscal
quarters ending on and after December 31, 2019, of (i) (x) Consolidated Indebtedness minus (y) the Liquidity Amount, in
each case as of the last day of such fiscal quarter to (ii) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters
ending with the last day of such fiscal quarter, all calculated for the Company and its Subsidiaries on a consolidated basis, to
be greater than (A) 4.50 to 1.00 for the fiscal quarters ending December 31, 2019 and March 31, 2020, (B) 4.25 to 1.00 for the
fiscal quarter ending June 30, 2020, (C) 4.00 to 1.00 for the fiscal quarter ending September 30, 2020, (D) 3.75 to 1.00 for the
fiscal quarter ending December 31, 2020 and (E) 3.50 to 1.00 for the fiscal quarter ending March 31, 2021 and each fiscal quarter
ending thereafter; provided that the Company may, on or after January 1, 2021, by written notice to the Administrative Agent
for distribution to the Lenders (which notice may be in the compliance certificate delivered by the Company pursuant to Section
5.01(c) for the applicable fiscal quarter) and not more than once during the term of this Agreement, elect to increase the maximum
Leverage Ratio to 4.00 to 1.00 for a period of three (3) consecutive fiscal quarters in connection with an acquisition that involves
the payment of consideration by the Company and/or its Subsidiaries in excess of $75,000,000 occurring during the first of such
three fiscal quarters.”

 

Notwithstanding
the foregoing, the following change shall be automatically deemed to be made to Section 6.10(a) on, and with effect as of, the
date on which (1) a change that is the substantial equivalent of the following change is made to the corresponding provision of
both the “LG Facility Agreement” and the “Shelf Agreement”, in each case as defined in the Company’s
most recent applicable filings with the SEC and (2) the Administrative Agent shall have received from the Company an executed
copy of each such amendment making such conforming change, in each case such amendment being confirmed by the Company in writing
to be effective:

 

    112

     

    

 

The first sentence
of Section 6.10(a) shall be restated in its entirety as follows:

 

“The
Company will not permit the ratio (the “Leverage Ratio”), determined as of the last day of each of its fiscal quarters
ending on and after December 31, 2019, of (i) (x) Consolidated Indebtedness minus (y) the Liquidity Amount, in each case as of
the last day of such fiscal quarter to (ii) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending
with the last day of such fiscal quarter, all calculated for the Company and its Subsidiaries on a consolidated basis, to be greater
than (A) 4.50 to 1.00 for the fiscal quarters ending December 31, 2019 and March 31, 2020, (B) 4.75 to 1.00 for the fiscal quarters
ending June 30, 2020, September 30, 2020, December 31, 2020 and March 31, 2021, (C) 4.25 to 1.00 for the fiscal quarter ending
June 30, 2021, (D) 4.00 to 1.00 for the fiscal quarter ending September 30, 2021, (E) 3.75 to 1.00 for the fiscal quarter ending
December 31, 2021 and (F) 3.50 to 1.00 for the fiscal quarter ending March 31, 2022 and each fiscal quarter ending thereafter;
provided that the Company may, on or after January 1, 2022, by written notice to the Administrative Agent for distribution to
the Lenders (which notice may be in the compliance certificate delivered by the Company pursuant to Section 5.01(c) for the applicable
fiscal quarter) and not more than once during the term of this Agreement, elect to increase the maximum Leverage Ratio to 4.00
to 1.00 for a period of three (3) consecutive fiscal quarters in connection with an acquisition that involves the payment of consideration
by the Company and/or its Subsidiaries in excess of $75,000,000 occurring during the first of such three fiscal quarters.”

 

(b)       Minimum
Interest Coverage Ratio. The Company will not permit the ratio (the “Interest Coverage Ratio”), determined
as of the last day of each of its fiscal quarters ending on and after September 30, 2019, of (i) Consolidated EBITDA to (ii) Consolidated
Interest Expense, in each case for the period of four (4) consecutive fiscal quarters ending with the last day of such fiscal quarter,
all calculated for the Company and its Subsidiaries on a consolidated basis, to be less than 3.00 to 1.00.

 

ARTICLE VII

 

Events of Default

 

If any of the following events (“Events of
Default”) shall occur:

 

(a)                  
any Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement
or fail to make a payment pursuant to Article X, in each case when and as the same shall become due and payable, whether
at the due date thereof or at a date fixed for prepayment thereof or otherwise;

 

(b)                 
any Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to
in clause (a) of this Article) payable under this Agreement or any other Loan Document, when and as the same shall become due and
payable, and such failure shall continue unremedied for a period of five (5) Business Days;

 

(c)                  
any representation or warranty made or deemed made by or on behalf of any Borrower or any Subsidiary in this Agreement or
any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, or in any report,
certificate, financial statement or other document furnished pursuant to or in connection with this Agreement or any other Loan
Document or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect
when made or deemed made;

 

    113

     

    

 

other services (including financial
advisory services) to other companies in respect of which such Borrower or any of its Subsidiaries may have conflicting interests
regarding the transactions described herein and otherwise. No Credit Party will use confidential information obtained from the
Borrower by virtue of the transactions contemplated by the Loan Documents or its other relationships with the Borrower in connection
with the performance by such Credit Party of services for other companies, and no Credit Party will furnish any such information
to other companies. Each Borrower also acknowledges that no Credit Party has any obligation to use in connection with the transactions
contemplated by the Loan Documents, or to furnish to such Borrower or any of its Subsidiaries, confidential information obtained
from other companies.

 

SECTION 9.17.
Several Liability. Notwithstanding anything to the contrary herein or in any other Loan Document, the Obligations of each
Foreign Subsidiary Borrower are several and not joint and no Foreign Subsidiary Borrower shall be responsible for any other Borrower’s
failure to pay its Obligations hereunder.

 

SECTION 9.18.Acknowledgement
and Consent to Bail-In of EEAAffected
Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement,
arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEAAffected
Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject
to the Write-Down and Conversion Powers of an EEAthe
applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

 

(a)                  
the application of any Write-Down and Conversion Powers by an EEAthe
applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party
hereto that is an EEAAffected
Financial Institution; and

 

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

 

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

 

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

 

(iii)          
the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of
any EEAthe applicable
Resolution Authority.

 

SECTION 9.19.Acknowledgement
Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for
Swap Agreements or any other agreement or instrument that is a QFC (such support “QFC Credit Support” and each
such QFC a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power
of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street
Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution
Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding
that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or
of the United States or any other state of the United States):

 

    137

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}]]