Document:

Exhibit 4.4

 

 

Protalix BioTherapeutics, Inc.,

 

Issuer

 

AND

 

____________________,

 

Trustee

 

____________________

 

INDENTURE

 

Dated as of _____ ___, 202_

 

____________________

 

 

     

     

    

 

Table
of Contents*

 

CROSS-REFERENCE TABLE*

 

	
    Section of
    Trust Indenture Act of 1939, as amended
	 	
    Section of

    Indenture

	310(a)	 	 7.9
	310(b)	 	 7.8
	310(c)	 	Inapplicable 
	311(a)	 	 7.13
	311(b)	 	 7.13
	311(c)	 	Inapplicable 
	312(a)	 	 5.01, 5.02(a)
	312(b)	 	 5.2(c)
	312(c)	 	 5.2(c)
	313(a)	 	 5.4(a)
	313(b)	 	 5.4(b)
	313(c)	 	 5.4(b)
	313(d)	 	 5.4(c)
	314(a)	 	 5.3(a)
	314(b)	 	Inapplicable 
	314(c)	 	13.7(a)
	314(d)	 	Inapplicable 
	314(e)	 	13.7(b)
	314(f)	 	Inapplicable 
	315(a)	 	 7.1(b)
	315(b)	 	 7.14
	315(c)	 	 7.1(a)
	315(d)	 	 7.1(b)
	315(e)	 	 6.7
	316(a)	 	 6.6, 8.4
	316(b)	 	 6.4
	316(c)	 	 8.1
	317(a)	 	 6.2
	317(b)	 	 4.3
	318(a)	 	13.9
	318(c)	 	13.9

 

	ARTICLE I	 DEFINITIONS	 1
	 	 
	Section 1.1	Definitions of Terms	 1

 

*This Cross-Reference Table
does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.

 

    -ii-

     

    

 

 

Table
of Contents

(continued)

 

Page

 

	ARTICLE II	ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	6
	 	 	 
	Section 2.1	Designation and Terms of Securities	6
	 	 	 
	Section 2.2	Form of Securities and Trustee’s Certificate	8
	 	 	 
	Section 2.3	Denominations; Provisions for Payment	8
	 	 	 
	Section 2.4	Execution and Authentication	10
	 	 	 
	Section 2.5	Registration of Transfer and Exchange	11
	 	 	 
	Section 2.6	Temporary Securities	12
	 	 	 
	Section 2.7	Mutilated, Destroyed, Lost or Stolen Securities	12
	 	 	 
	Section 2.8	Cancellation	13
	 	 	 
	Section 2.9	Benefits of Indenture	13
	 	 	 
	Section 2.10	Authenticating Agent	13
	 	 	 
	Section 2.11	Global Securities	14
	 	 	 
	Section 2.12	No Obligation of the Trustee	15
	 	 	 
	ARTICLE III	REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	16
	 	 	 
	Section 3.1	Redemption	16
	 	 	 
	Section 3.2	Notice of Redemption	16
	 	 	 
	Section 3.3	Payment Upon Redemption	17
	 	 	 
	Section 3.4	Sinking Fund	18
	 	 	 
	Section 3.5	Satisfaction of Sinking Fund Payments with Securities	18
	 	 	 
	Section 3.6	Redemption of Securities for Sinking Fund	18
	 	 	 
	ARTICLE IV	CERTAIN COVENANTS	19
	 	 	 
	Section 4.1	Payment of Principal, Premium and Interest	19
	 	 	 
	Section 4.2	Maintenance of Office or Agency	19

 

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Table
of Contents

(continued)

 

Page

	 	 	 
	Section 4.3	Paying Agents	19
	 	 	 
	Section 4.4	Appointment to Fill Vacancy in Office of Trustee	20
	 	 	 
	Section 4.5	Compliance with Consolidation Provisions	20
	 	 	 
	Section 4.6	Statement by Officers as to Default	20
	 	 	 
	ARTICLE V	SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	21
	 	 	 
	Section 5.1	Company to Furnish Trustee Names and Addresses of Securityholders	21
	 	 	 
	Section 5.2	Preservation of Information; Communications with Securityholders	21
	 	 	 
	Section 5.3	Reports by the Company	21
	 	 	 
	Section 5.4	Reports by the Trustee	22
	 	 	 
	ARTICLE VI	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	23
	 	 	 
	Section 6.1	Events of Default	23
	 	 	 
	Section 6.2	Collection of Indebtedness and Suits for Enforcement by Trustee	25
	 	 	 
	Section 6.3	Application of Moneys Collected	26
	 	 	 
	Section 6.4	Limitation on Suits	26
	 	 	 
	Section 6.5	Rights and Remedies Cumulative; Delay or Omission Not Waiver	27
	 	 	 
	Section 6.6	Control by Securityholders	28
	 	 	 
	Section 6.7	Undertaking to Pay Costs	28
	 	 	 
	ARTICLE VII	CONCERNING THE TRUSTEE	29
	 	 	 
	Section 7.1	Certain Duties and Responsibilities of Trustee	29
	 	 	 
	Section 7.2	Certain Rights of Trustee	30
	 	 	 
	Section 7.3	Trustee Not Responsible for Recitals or Issuance or Securities	31
	 	 	 
	Section 7.4	May Hold Securities	32

 

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Table
of Contents

(continued)

 

Page

	 	 	 
	Section 7.5	Moneys Held in Trust	32
	 	 	 
	Section 7.6	Compensation and Reimbursement	32
	 	 	 
	Section 7.7	Reliance on Officers’ Certificate	33
	 	 	 
	Section 7.8	Disqualification; Conflicting Interests	33
	 	 	 
	Section 7.9	Corporate Trustee Required; Eligibility	33
	 	 	 
	Section 7.10	Resignation and Removal; Appointment of Successor	33
	 	 	 
	Section 7.11	Acceptance of Appointment By Successor	35
	 	 	 
	Section 7.12	Merger, Conversion, Consolidation or Succession to Business	36
	 	 	 
	Section 7.13	Preferential Collection of Claims Against the Company	36
	 	 	 
	Section 7.14	Notice of Defaults	36
	 	 	
	ARTICLE VIII	CONCERNING THE SECURITYHOLDERS	37
	 	 	 
	Section 8.1	Evidence of Action by Securityholders	37
	 	 	 
	Section 8.2	Proof of Execution by Securityholders	37
	 	 	 
	Section 8.3	Who May be Deemed Owners	38
	 	 	 
	Section 8.4	Certain Securities Owned by Company Disregarded	38
	 	 	 
	Section 8.5	Actions Binding on Future Securityholders	38
	 	 	 
	ARTICLE IX	SUPPLEMENTAL INDENTURES	39
	 	 	 
	Section 9.1	Supplemental Indentures Without the Consent of Securityholders	39
	 	 	 
	Section 9.2	Supplemental Indentures With Consent of Securityholders	40
	 	 	 
	Section 9.3	Effect of Supplemental Indentures	41
	 	 	 
	Section 9.4	Securities Affected by Supplemental Indentures	41
	 	 	 
	Section 9.5	Execution of Supplemental Indentures	41
	 	 	 
	Section 9.6	Conformity with Trust Indenture Act	41

 

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Table
of Contents

(continued)

 

Page

	 	 	 
	ARTICLE X	SUCCESSOR CORPORATION	42
	 	 	 
	Section 10.1	Company May Consolidate, Etc.	42
	 	 	 
	Section 10.2	Successor Substituted	42
	 	 	 
	Section 10.3	Evidence of Consolidation, Etc. to Trustee	43
	 	 	 
	ARTICLE XI	SATISFACTION AND DISCHARGE	43
	 	 	 
	Section 11.1	Satisfaction and Discharge of Indenture	43
	 	 	 
	Section 11.2	Discharge of Obligations	43
	 	 	 
	Section 11.3	Deposited Moneys to be Held in Trust	44
	 	 	 
	Section 11.4	Payment of Moneys Held by Paying Agents	44
	 	 	 
	Section 11.5	Repayment to Company	44
	 	 	 
	ARTICLE XII	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	45
	 	 	 
	Section 12.1	No Recourse	45
	 	 	 
	ARTICLE XIII	MISCELLANEOUS PROVISIONS	45
	 	 	 
	Section 13.1	Effect on Successors and Assigns	45
	 	 	 
	Section 13.2	Actions by Successor	45
	 	 	 
	Section 13.3	Notices	45
	 	 	 
	Section 13.4	Notice to Holders of Securities; Waiver	46
	 	 	 
	Section 13.5	Governing Law	46
	 	 	 
	Section 13.6	Effect of Headings and Table of Contents	46
	 	 	 
	Section 13.7	Compliance Certificates and Opinions	46
	 	 	 
	Section 13.8	Payments on Business Days	47
	 	 	 
	Section 13.9	Conflict with Trust Indenture Act	47
	 	 	 
	Section 13.10	Counterparts	47
	 	 	 
	Section 13.11	Separability	47

 

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Table
of Contents

(continued)

 

Page

 

	Section 13.12	Assignment	47
	 	 	 
	ARTICLE XIV	Subordination of Securities	48
	 	 	 
	Section 14.1	Subordination Terms	48

 

*This Table of Contents does not constitute part of the Indenture and
shall not have any bearing upon the interpretation of any of its terms or provisions.

 

    -vii-

     

    

 

INDENTURE, dated as of _______ ___, 202__, among
Protalix BioTherapeutics, Inc., a Delaware corporation (the “Company”), and _______________, as trustee (the “Trustee”):

 

WHEREAS, for its lawful corporate purposes, the
Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of unsecured subordinated debt securities
(hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to
time in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate
of the Trustee;

 

WHEREAS, to provide the terms and conditions upon
which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and

 

WHEREAS, all things necessary to make this Indenture
a valid agreement of the Company, in accordance with its terms, have been done.

 

NOW, THEREFORE, in consideration of the premises
and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit
of the holders of Securities:

 

ARTICLE I

DEFINITIONS

 

Section 1.1     Definitions
of Terms.

 

The terms defined in this Section 1.1
(except as herein otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any
indenture supplemental hereto shall have the respective meanings specified in this Section 1.1 and shall include the plural
as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that
are by reference therein defined in the Securities Act of 1933, as amended (except as herein otherwise expressly provided or unless the
context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as
in force at the date of the execution of this instrument.

 

“Affiliate” means, with respect
to a specified Person, (a) any Person directly or indirectly owning, controlling or holding with power to vote 10% or more of the
outstanding voting securities or other ownership interests of the specified Person, (b) any Person 10% or more of whose outstanding
voting securities or other ownership interests are directly or indirectly owned, controlled or held with power to vote by the specified
Person, (c) any Person directly or indirectly controlling, controlled by, or under common control with the specified Person, (d) a
partnership in which the specified Person is a general partner, (e) any officer or director of the specified Person, and (f) if
the specified Person is an individual, any entity of which the specified Person is an officer, director or general partner.

 

“Authenticating Agent” means
an authenticating agent with respect to all or any of the series of Securities appointed with respect to all or any series of the Securities
by the Trustee pursuant to Section 2.10.

 

     

     

    

 

“Bankruptcy Law” means Title
11, U.S. Code, or any similar federal or state law for the relief of debtors.

 

“Board of Directors” means the
Board of Directors of the Company or any duly authorized committee of such Board.

 

“Board Resolution” means a copy
of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors
and to be in full force and effect on the date of such certification.

 

“Business Day” means, with respect
to any series of Securities, any day other than a day on which Federal or State banking institutions in the City of New York or place
of payment, are authorized or obligated by law, executive order or regulation to close.

 

“Certificate” means a certificate
signed by the principal executive officer, the principal financial officer, the Treasurer or the principal accounting officer of the Company.
The Certificate need not comply with the provisions of Section 13.7.

 

“Company” means Protalix BioTherapeutics, Inc.,
a corporation duly organized and existing under the laws of the State of Delaware, and, subject to the provisions of Article Ten,
shall also include its successors and assigns.

 

“Corporate Trust Office” means
the office of the Trustee at which, at any particular time, its corporate trust business shall be principally administered, which office
at the date hereof is located at ____________________.

 

“Custodian” means any receiver,
trustee, assignee, liquidator, or similar official under any Bankruptcy Law.

 

“Default” means any event, act
or condition that with notice or lapse of time, or both, would constitute an Event of Default.

 

“Defaulted Interest” has the
meaning set forth in Section 2.3 hereof.

 

Depositary” means, with respect to
Securities of any series, for which the Company shall determine that such Securities will be issued as a Global Security, The Depository
Trust Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or
other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.1
or 2.11.

 

“Event of Default” means, with
respect to Securities of a particular series any event specified in Section 6.1, continued for the period of time, if any,
therein designated.

 

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

 

“Global Security” means, with
respect to any series of Securities, a Security executed by the Company and delivered by the Trustee to the Depositary or pursuant to
the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or its
nominee.

 

    2

     

    

 

“Governmental Obligations” means
securities that are (i) direct obligations of the United States of America for the payment of which its full faith and credit is
pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States
of America, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America that,
in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued
by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such Governmental
Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for the account
of the holder of such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make
any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of
the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary
receipt.

 

“Guarantee” means any obligation,
contingent or otherwise, of any Person directly or indirectly guaranteeing any indebtedness of any other Person and any obligation, direct
or indirect, contingent or otherwise, of such Person (a) to purchase or pay (or advance or supply funds for the purchase or payment
of) such indebtedness or other obligation of such Person (whether arising by virtue of partnership arrangements, or by agreements to keep-well,
to purchase assets, goods, securities or services, to take-or-pay or to maintain financial statement conditions or otherwise) or (b) entered
into for the purpose of assuring in any other manner the obligee of such indebtedness of the payment thereof or to protect such obligee
against loss in respect thereof (in whole or in part); provided, however, that the term “Guarantee” shall not include endorsements
for collection or deposit in the ordinary course of business. The term “Guarantee” used as a verb has a corresponding meaning.

 

“Guarantor” means any Person
Guaranteeing any obligation.

 

“Guaranty Agreement” means a
supplemental indenture, in a form satisfactory to the Trustee, pursuant to which a Person Guarantees the Company’s obligations with
respect to a series of Securities.

 

“herein”, “hereof”
and “hereunder”, and other words of similar import, refer to this Indenture as a whole and not to any particular Article,
Section or other subdivision.

 

“Indenture” means this instrument
as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered
into in accordance with the terms hereof.

 

“Interest” when used with respect
to an Original Issue Discount Security which by its terms bears interest only after maturity, means interest payable after maturity.

 

“Interest Payment Date”, when
used with respect to any installment of interest on a Security of a particular series, means the date specified in such Security or in
a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest
with respect to Securities of that series is due and payable.

 

    3

     

    

 

“Officer” means the Chairman
of the Board, the Chief Executive Officer, the President, any Executive Vice President, any Vice President, the Treasurer, the Secretary
or an Assistant Secretary of the Company.

 

“Officers’ Certificate”
means a certificate signed by two Officers that is delivered to the Trustee in accordance with the terms hereof. Each such certificate
shall include the statements provided for in Section 13.7, if and to the extent required by the provisions thereof.

 

“Opinion of Counsel” means an
opinion in writing of legal counsel, who may be an employee of or counsel for the Company, that is delivered to the Trustee in accordance
with the terms hereof. Each such opinion shall include the statements provided for in Section 13.7, if and to the extent required
by the provisions thereof.

 

“Original Issue Discount Security”
means any Security which (i) is issued at a price lower than the amount payable upon the maturity thereof and (ii) provides
for an amount less than the principal amount thereof to be due and payable upon redemption or a declaration of acceleration of the maturity
thereof pursuant to Section 6.1.

 

“Outstanding”, when used with
reference to Securities of any series, means, subject to the provisions of Section 8.4, as of any particular time, all Securities
of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled
by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously been canceled;
(b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount
shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside and
segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions
of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article Three,
or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu of or in substitution
for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.7.

 

“Person” means any individual,
corporation, limited liability company, partnership, joint-venture, joint-stock company, unincorporated organization or government or
any agency or political subdivision thereof.

 

“Predecessor Security” of any
particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security;
and, for the purposes of this definition, any Security authenticated and delivered under Section 2.7 in lieu of a lost, destroyed
or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.

 

“Regular Record Date” has the
meaning set forth in Section 2.3 hereof.

 

    4

     

    

 

“Responsible Officer” when used
with respect to the Trustee means any authorized officer within the Corporate Trust Department (or corresponding department bearing a
different name) of the Trustee, including the president, any vice president, assistant vice president, assistant secretary, assistant
treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Person
who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of his or her knowledge
of and familiarity with the particular subject.

 

“Securities” means the debt
Securities authenticated and delivered under this Indenture.

 

“Security Register” has the
meaning set forth in Section 2.5(b) hereof.

 

“Security Registrar” has the
meaning set forth in Section 2.5(b) hereof.

 

“Securityholder”, “holder
of Securities”, “registered holder”, or other similar term, means the Person or Persons in whose name or names a particular
Security shall be registered on the books of the Company kept for that purpose in accordance with the terms of this Indenture.

 

“Special Record Date” has the
meaning set forth in Section 2.3 hereof.

 

“Subsidiary” means, in respect
of any Person, any corporation, association, partnership, limited liability company, or other business entity of which more than 50% of
the total voting power of shares of capital stock or other interests (including partnership interests) entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled,
directly or indirectly, by (a) such Person, (b) such Person and one or more Subsidiaries of such Person or (c) one or more
Subsidiaries of such Person.

 

“Subsidiary Guarantor” means
any Subsidiary of the Company that provides a Guarantee of the obligations of the Company with respect to any series of Securities or
enters into a Guaranty Agreement that becomes a Subsidiary Guarantor.

 

“Subsidiary Guarantee” means
a Guarantee, including any Guaranty Agreement, provided by a Subsidiary Guarantor of the Company’s obligations with respect to any
series of Securities.

 

“Trustee” means _____________________,
and, subject to the provisions of Article Seven, shall also include its successors and assigns, and, if at any time there is more
than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as
used with respect to a particular series of the Securities shall mean the trustee with respect to that series.

 

“Trust Indenture Act” means
the Trust Indenture Act of 1939, as amended, as in effect at the date of execution of this instrument, subject to the provisions of Sections 9.1,
9.2 and 10.1.

 

“Yield to Maturity” means the
yield to maturity on a series of Securities, calculated at the time of issuance of such series, or, if applicable, at the most recent
redetermination of interest on such series, and calculated in accordance with accepted financial practice.

 

    5

     

    

 

ARTICLE II

ISSUE, DESCRIPTION, TERMS, EXECUTION,

REGISTRATION AND EXCHANGE OF SECURITIES

 

Section 2.1     Designation
and Terms of Securities.

 

(a)            The
aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may
be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant
to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of Securities of any series,
there shall be established in or pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one
or more indentures supplemental hereto:

 

(1)            the
title of the Security of the series (which shall distinguish the Securities of the series from all other Securities);

 

(2)            any
limit upon the aggregate principal amount of the Securities of that series that may be authenticated and delivered under this Indenture
(except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities
of that series);

 

(3)            whether
any of the Securities of the series will be issuable in whole or in part in temporary or permanent global form or in the form of book-entry
securities and, in such case, the identity of the Depositary for such series;

 

(4)            the
date or dates on which the principal of the Securities of the series is payable;

 

(5)            the
rate or rates, which may be fixed or variable, at which the Securities of the series shall bear interest or the manner of calculation
of such rate or rates, if any;

 

(6)            the
date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable or the manner of
determination of such Interest Payment Dates and the record date for the determination of holders to whom interest is payable on any such
Interest Payment Dates or the manner of determination of such record dates;

 

(7)            the
place or places where payments with respect to the Securities of the series shall be payable;

 

(8)            the
right, if any, to defer or extend payment of interest on the debt securities and the maximum length of any deferral or extension period;

 

(9)            the
dates, if any, on which, the price or prices at which and the terms and conditions upon which, Securities of the series may be redeemed,
in whole or in part, at the option of the Company;

 

    6

     

    

 

(10)          the
obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund or analogous provisions
(including payments made in cash in satisfaction of future sinking fund obligations) or at the option of a holder thereof and the date
or dates, if any, on which, the price or prices at which, and the terms and conditions upon which, Securities of the series shall be redeemed
or purchased, in whole or in part, pursuant to such obligation;

 

(11)          if
other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which the Securities
of the series shall be issuable;

 

(12)          whether
the series of Securities will be subject to any mandatory or optional sinking fund or similar provisions;

 

(13)          the
currency or currency units in which payment of the principal of and any premium and interest on the Securities of the series shall be
payable;

 

(14)           whether
and under what circumstances the Company will pay additional amounts on the Securities of the series held by non-U.S. persons in respect
of any tax, assessment or governmental charge withheld or deducted and, if so, whether the Company will have the option to redeem such
Securities rather than pay such additional amounts;

 

(15)          the
terms pursuant to which the Securities of the series are subject to defeasance and satisfaction and discharge;

 

(16)          any
addition to, or modification or deletion of, any Events of Default or covenants provided for with respect to the Securities of the series;

 

(17)          the
terms and conditions, if any, pursuant to which the Securities of the series are secured;

 

(18)          whether
the Securities of the series will be convertible into shares of common stock or any other securities of the Company and, if so, the terms
and conditions upon which such Securities will be so convertible, including whether conversion is mandatory, at the option of the holder,
or at the option of the Company, the conversion price, the conversion period and any provisions pursuant to which the number of shares
of common stock or other securities of the Company to be received by the holders of such series of Securities would be subject to adjustment;

 

(19)          if
other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration
of acceleration of the maturity thereof pursuant to Section 6.1;

 

(20)          any
provisions granting special rights to holders when a specified event occurs;

 

    7

     

    

 

(21)          any
special tax implications of the Securities of the series, including provisions for Original Issue Discount Securities, if offered;

 

(22)          the
form of the Securities of the series, including the form of the Certificate of Authentication for such series;

 

(23)          the
subordination terms of the Securities of the series; and

 

(24)          any
and all other terms with respect to such series, including any terms which may be required by or advisable under United States laws or
regulations or advisable in connection with the marketing of Securities of that series.

 

All Securities of any one series shall be substantially
identical except as to denomination and except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures
supplemental hereto.

 

If any of the terms of the series are established
by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or
an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting
forth the terms of the series.

 

Securities of any particular series may be issued
at various times, with different dates on which the principal or any installment of principal is payable, with different rates of interest,
if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable
and with different redemption dates. Unless otherwise provided, a series may be reopened for issuances of additional Securities of such
series.

 

Section 2.2     Form of
Securities and Trustee’s Certificate.

 

The Securities of any series and the Trustee’s
certificate of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more
indentures supplemental hereto or as provided in a Board Resolution of the Company and as set forth in an Officers’ Certificate
of the Company and may have such letters, numbers or other marks of identification or designation and such legends or endorsements printed,
lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture,
or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation
of any stock exchange on which Securities of that series may be listed, or to conform to usage.

 

Section 2.3     Denominations;
Provisions for Payment.

 

The Securities shall be issuable as registered
Securities and in the minimum denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.1(a)(12).
The Securities of a particular series shall bear interest payable on the Interest Payment Dates and at the rate specified with respect
to that series. Unless otherwise provided pursuant to Section 2.1, the principal of and the interest on the Securities of
any series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of
the United States of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained
for that purpose in the United States, unless otherwise specified with respect to any series of Securities, by the Corporate Trust Office
of the Trustee. Each Security shall be dated the date of its authentication. Unless otherwise provided pursuant to Section 2.1,
interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months.

 

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The interest installment on any Security that is
payable, and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the
Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the applicable Business
Day that is the Regular Record Date for such interest installment. Unless otherwise provided in the terms of a series of Securities, at
the option of the Company, payment of interest may be mailed by check to the holders of the Securities of any series at their respective
addresses set forth in the Security Register (as herein defined) or wired if held in book-entry form at The Depository Trust Company.
In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent
to a Regular Record Date with respect to any Interest Payment Date and on or prior to such Interest Payment Date, interest on such Security
will be paid upon presentation and surrender of such Security as provided in Section 3.3.

 

Any interest on any Security that is payable, but
is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted
Interest”) shall forthwith cease to be payable to the registered holder on the relevant Regular Record Date by virtue of having
been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause
(2) below:

 

(1)            The
Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor
Securities) are registered at the close of business on the applicable Business Day that is a Special Record Date for the payment of such
Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make
arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held
in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. The Trustee shall then fix a Special
Record Date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of
the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of
the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed,
first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days
prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having
been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor
Securities) are registered on such Special Record Date and shall be no longer payable pursuant to the following clause (2).

 

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(2)            The
Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements
of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after
notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable
by the Trustee.

 

Unless otherwise set forth in a Board Resolution
or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.1 hereof,
the term “Regular Record Date”, as used in this Section 2.3, with respect to a series of Securities with
respect to any Interest Payment Date for such series shall mean either (i) the fifteenth day of the month immediately preceding the
month in which an Interest Payment Date established for such series pursuant to Section 2.1 hereof shall occur, if such Interest
Payment Date is the first day of a month, or (ii) the last day of the month immediately preceding the month in which an Interest
Payment Date established for such series pursuant to Section 2.1 hereof shall occur, if such Interest Payment Date is the
fifteenth day of a month, whether or not such date is a Business Day.

 

Subject to the foregoing provisions of this Section 2.3,
each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such
series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.

 

Section 2.4     Execution
and Authentication.

 

Two Officers shall sign the Securities for the
Company by manual or facsimile signature. If an Officer whose signature is on a Security no longer holds that office at the time the Trustee
authenticates the Security, the Security shall be valid nevertheless.

 

A Security shall not be valid until an authorized
signatory of the Trustee or an Authentication Agent manually signs the certificate of authentication on the Security. The signature shall
be conclusive evidence that the Security has been authenticated under this Indenture.

 

At any time and from time to time after the execution
and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication,
together with a written order of the Company for the authentication and delivery of such Securities, signed by two Officers, and the Trustee
shall authenticate and deliver such Securities in accordance with such written order.

 

In authenticating such Securities and accepting
the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject
to Section 7.1) shall be fully protected in relying upon, an Opinion of Counsel and an Officers’ Certificate stating
that the form and terms thereof have been established in conformity with the provisions of this Indenture.

 

The Trustee shall not be required to authenticate
such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities
under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee.

 

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Section 2.5     Registration
of Transfer and Exchange.

 

(a)            Securities
of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose in the United
States, or such other location designated by the Company, for other Securities of such series of authorized denominations, and for a like
aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, all as
provided in this Section 2.5. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee
shall authenticate and such office or agency shall deliver in exchange therefor the Security or Securities of the same series that the
Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding.

 

(b)            The
Company shall keep, or cause to be kept, at its office or agency designated for such purpose in the United States, or such other location
designated by the Company a register or registers (herein referred to as the “Security Register”) in which, subject to such
reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of Securities as provided in this
Article and which at all reasonable times shall be open for inspection by the Trustee. Unless otherwise specified in a supplemental
indenture, the Trustee is hereby appointed as “Security Registrar” for the purpose of registering the Securities and the transfer
of Securities of each series.

 

Upon surrender for transfer of any Security at
the office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office
or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented
for a like aggregate principal amount.

 

All Securities presented or surrendered for exchange
or registration of transfer, as provided in this Section 2.5, shall be accompanied (if so required by the Company or the Security
Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed
by the registered holder or by such holder’s duly authorized attorney in writing.

 

(c)            No
service charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case of partial
redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation
thereto, other than exchanges pursuant to Section 2.6, Section 3.3(b) and Section 9.4 not involving
any transfer.

 

(d)            The
Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning at the
opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities of
the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange
any Securities of any series or portions thereof called for redemption except the unredeemed portion of any Securities of any series being
redeemed in part. The provisions of this Section 2.5 are, with respect to any Global Security, subject to Section 2.11
hereof.

 

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Section 2.6     Temporary
Securities.

 

Pending the preparation of definitive Securities
of any series, the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed or
typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities
in lieu of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all
as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the
Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series.
Without unnecessary delay, the Company will execute and will furnish definitive Securities of such series, and thereupon any or all temporary
Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company
designated for the purpose, and the Trustee shall authenticate and such office or agency shall deliver in exchange for such temporary
Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the
effect that definitive Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary
Securities of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated
and delivered hereunder.

 

Section 2.7     Mutilated,
Destroyed, Lost or Stolen Securities.

 

In case any temporary or definitive Security shall
become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s
request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously
outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed,
lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity
as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish
to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s Security and
of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the written request or
authorization of any Officer of the Company. Upon the issuance of any substituted Security, the Company may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the
fees and expenses of the Trustee) connected therewith. In case any Security that has matured or is about to mature shall become mutilated
or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without
surrender thereof, except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the
Trustee such security or indemnity as they may require to save each of them harmless, and, in case of destruction, loss or theft, evidence
to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof.

 

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Every replacement Security issued pursuant to the
provisions of this Section 2.7 shall constitute an additional contractual obligation of the Company, whether or not the mutilated,
destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits
of this Indenture equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities
shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding
any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments
or other securities without their surrender.

 

Section 2.8     Cancellation.

 

All Securities surrendered for the purpose of payment,
redemption, exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee
for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except
as expressly required or permitted by any of the provisions of this Indenture. On request of the Company at the time of such surrender,
the Trustee shall deliver to the Company any canceled Securities held by the Trustee. In the absence of such request, the Trustee may
dispose of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company. If
the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction
of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

 

Section 2.9     Benefits
of Indenture.

 

Nothing in this Indenture or in the Securities,
express or implied, shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities
(and, with respect to the provisions of Article Fourteen, the holders of senior indebtedness), any legal or equitable right, remedy
or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained, all such covenants, conditions
and provisions being for the sole benefit of the parties hereto and of the holders of the Securities (and, with respect to the provisions
of Article Fourteen, the holders of senior indebtedness).

 

Section 2.10     Authenticating
Agent.

 

So long as any of the Securities of any series
remain Outstanding there may be an Authenticating Agent for any or all such series of Securities which the Trustee, with the written consent
of the Company, shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate
Securities of such series issued upon exchange, transfer or partial redemption thereof, and Securities so authenticated shall be entitled
to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All
references in this Indenture to the authentication of Securities by the Trustee shall be deemed to include authentication by an Authenticating
Agent for such series. Each Authenticating Agent shall be a corporation that has a combined capital and surplus, as most recently reported
or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct
a trust business, and that is otherwise authorized under such laws to conduct such business and is subject to supervision or examination
by Federal or State authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions,
it shall resign immediately.

 

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Any Authenticating Agent may at any time resign
by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company
shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the
Company. Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor
Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall
become vested with all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant
hereto.

 

Section 2.11         Global
Securities.

 

(a)            If
the Company shall establish pursuant to Section 2.1 that the Securities of a particular series are issuable as a Global Security,
then the Company shall execute and the Trustee shall, in accordance with Section 2.4, authenticate and deliver, a Global Security
that (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, such of the Outstanding
Securities of such series as shall be specified therein and that the aggregate amount of Outstanding Securities represented thereby may
from time to time be increased or reduced to reflect exchanges, (ii) shall be registered in the name of the Depositary or its nominee,
(iii) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction and (iv) shall bear
a legend substantially to the following effect: “Except as otherwise provided in Section 2.11 of the Indenture, this
Security may be transferred, in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a
nominee of such successor Depositary.” Any endorsement of a Security in global form to reflect the amount, or any increase or decrease
in the amount, of Outstanding Securities represented thereby shall be made by the Trustee in such manner and upon instructions given by
such Person or Persons as shall be specified therein or in the written request signed in the name of the Company, by two Officers thereof
to be delivered to the Trustee pursuant to Section 2.4 or Section 2.6.

 

(b)            Notwithstanding
the provisions of Section 2.5, the Global Security of a series may be transferred, in whole but not in part, and in the manner
provided in Section 2.5, only to another nominee of the Depositary for such series, or to a successor Depositary for such
series selected or approved by the Company or to a nominee of such successor Depositary.

 

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(c)            If
at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue as Depositary
for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange
Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company within 90 days
after the Company receives such notice or becomes aware of such condition, as the case may be, this Section 2.11 shall no
longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.5, the Trustee
will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations,
and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security.
In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security
and that the provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the Company
will execute and subject to Section 2.5, the Trustee, upon receipt of an Officers’ Certificate evidencing such determination
by the Company, will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for
such Global Security. Upon the exchange of the Global Security for such Securities in definitive registered form without coupons, in authorized
denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange
for the Global Security pursuant to this Section 2.11(c) shall be registered in such names and in such authorized denominations
as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee
shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered.

 

(d)            If
an Event of Default has occurred and is continuing with respect to a particular series of the Securities, the Company may execute, and
the Trustee, upon receipt of an Officers’ Certificate directing the authorization and delivery thereof, shall authenticate and deliver
the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal
amount equal to the principal amount of the Global Security of such series in exchange for such Global Security.

 

Section 2.12         No
Obligation of the Trustee.

 

(a)            The
Trustee shall have no responsibility or obligation to any beneficial owner of a Global Security, a member of, or a participant in, the
Depositary or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member
thereof, with respect to any ownership interest in the Securities or with respect to the delivery to any participant, member, beneficial
owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount or delivery
of any Securities (or other security or property) under or with respect to such Securities. All notices and communications to be given
to the Holders and all payments to be made to Holders in respect of the Securities shall be given or made only to or upon the order of
the registered Holder or Holders (which shall be the Depositary or its nominee in the case of a Global Security). The rights of beneficial
owners in any Global Security shall be exercised only through the Depositary, subject to the applicable rules and procedures of the
Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to
its members, participants and any beneficial owners.

 

(b)            The
Trustee shall have no obligations or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed
under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between
or among the Depositary participants, members or beneficial owners in any Global Security) other than to require delivery of such certificates
and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture,
and to examine the same to determine substantial compliance as to form with the express requirements hereof.

 

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ARTICLE III

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

 

Section 3.1           Redemption.

 

The Company may redeem the Securities of any series
issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.1
hereof.

 

Section 3.2           Notice
of Redemption.

 

(a)            In
case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of any series in
accordance with the right reserved in such Securities so to do, the Company shall, or shall cause the Trustee to, give notice of such
redemption to holders of the Securities of such series to be redeemed by sending electronically or by mailing, first class postage prepaid,
a notice of such redemption not less than 30 days and not more than 60 days before the date fixed for redemption of that series
to such holders at their last addresses as they shall appear upon the Security Register, unless a shorter period is specified in the Securities
to be redeemed. Any notice that is sent in the manner herein provided shall be conclusively presumed to have been duly given, whether
or not the registered holder receives the notice. In any case, failure to duly give such notice to the holder of any Security of any series
designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption
of any other Securities of such series or any other series. In the case of any redemption of Securities prior to the expiration of any
restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the
Trustee with an Officers’ Certificate evidencing compliance with any such restriction.

 

Each such notice of redemption shall specify the
date fixed for redemption and the redemption price (or the manner of calculation thereof) at which Securities of that series are to be
redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency
of the Company in the United States, upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption
will be paid as specified in said notice, that from and after said date interest will cease to accrue and that the redemption is for a
sinking fund, if such is the case. If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities
of that series to be redeemed in whole or in part shall specify the particular Securities to be so redeemed. In case any Security is to
be redeemed in part only, the notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed,
and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in
principal amount equal to the unredeemed portion thereof will be issued.

 

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(b)            If
less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 30 days’ notice in
advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon
the Trustee shall select, by lot on a pro rata basis or in such other manner as it shall deem appropriate and fair in its discretion.
The portion of the principal amount of Securities so selected for partial redemption shall be equal to the minimum authorized denomination
for Securities of that series or any integral multiple thereof. Upon making its selection, the Trustee shall promptly notify the Company
in writing of the numbers of the Securities to be redeemed, in whole or in part.

 

Unless otherwise provided in the applicable supplemental
indenture, the Company shall not be required to issue, register the transfer of, or exchange any Securities of a series that are subject
to redemption during a period beginning at the opening of business 15 days before the day of mailing of a notice of redemption of
less than all of that series of Securities that may be selected for redemption and ending at the close of business on the day of such
mailing.

 

The Company may, if and whenever it shall so elect,
by delivery of instructions signed on its behalf by any Officer, instruct the Trustee or any paying agent to call all or any part of the
Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this Section 3.2,
such notice to be in the name of the Company or its own name, as the Trustee or such paying agent may deem advisable. In any case in which
notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or
permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records,
or suitable copies or extracts therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be
required under this Section 3.2.

 

Section 3.3           Payment
Upon Redemption.

 

(a)            If
the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of the series
to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable
redemption price, together with interest accrued to the date fixed for redemption. Interest on such Securities or portions of Securities
shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price
and accrued interest with respect to any such Security or portion thereof. On presentation and surrender of such Securities on or after
the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable
redemption price for such series, together with interest accrued thereon to the date fixed for redemption. However, if the date fixed
for redemption is subsequent to a Regular Record Date with respect to any Interest Payment Date and on or prior to such Interest Payment
Date, the interest installment payable on such date shall be payable to the registered holder at the close of business on the applicable
Regular Record Date pursuant to Section 2.3.

 

(b)            Upon
presentation of any Security of such series that is to be redeemed in part only, the Company shall execute and the Trustee shall authenticate
and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security
of the same series of authorized denominations in principal amount equal to the unredeemed portion of the Security so presented.

 

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Section 3.4           Sinking
Fund.

 

The provisions of Sections 3.4, 3.5 and
3.6 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated
by Section 2.1 for Securities of such series.

 

The minimum amount of any sinking fund payment
provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment”, and any
payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional
sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may
be subject to reduction as provided in Section 3.5. Each sinking fund payment shall be applied to the redemption of Securities
of any series as provided for by the terms of Securities of such series.

 

Section 3.5           Satisfaction
of Sinking Fund Payments with Securities.

 

The Company (i) may deliver Outstanding Securities
of a series (other than any Securities previously called for redemption) and (ii) may apply as a credit Securities of a series that
have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted
optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking
fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for
by the terms of such series, provided that such Securities have not been previously so credited. Such Securities shall be received
and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of
the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section 3.6           Redemption
of Securities for Sinking Fund.

 

Not less than 45 days prior to each sinking
fund payment date for any series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the
amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that
is to be satisfied by delivering and crediting Securities of that series pursuant to Section 3.5 and the basis for such credit
and will, together with such Officers’ Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days
before each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking fund payment date
in the manner specified in Section 3.2 and cause notice of the redemption thereof to be given in the name of and at the expense
of the Company in the manner provided in Section 3.2. Such notice having been duly given, the redemption of such Securities
shall be made upon the terms and in the manner stated in Section 3.3.

 

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ARTICLE IV

CERTAIN COVENANTS

 

Section 4.1           Payment
of Principal, Premium and Interest.

 

The Company will duly and punctually pay or cause
to be paid the principal of and any premium and interest on the Securities of that series at the time and place and in the manner provided
herein and established with respect to such Securities.

 

Section 4.2           Maintenance
of Office or Agency.

 

So long as any series of the Securities remain
Outstanding, the Company agrees to maintain an office or agency in the United States with respect to each such series, where (i) Securities
of that series may be presented for payment, (ii) Securities of that series may be presented as hereinabove authorized for registration
of transfer and exchange and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this
Indenture may be given or served, such designation to continue with respect to such office or agency until the Company shall, by written
notice signed by an Officer and delivered to the Trustee, designate some other office or agency for such purposes or any of them. If at
any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof,
such presentations, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints
the Trustee as its agent to receive all such presentations, notices and demands.

 

Section 4.3           Paying
Agents.

 

(a)            If
the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the Company will
cause each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject
to the provisions of this Section 4.3:

 

(1)          that
it will hold all sums held by it as such agent for the payment of the principal of and any premium or interest on the Securities of that
series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of
the Persons entitled thereto;

 

(2)          that
it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any payment of the
principal of and any premium or interest on the Securities of that series when the same shall be due and payable;

 

(3)          that
it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the written
request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and

 

(4)          that
it will perform all other duties of paying agent as set forth in this Indenture.

 

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(b)            If
the Company shall act as its own paying agent with respect to any series of the Securities, it shall on or before each due date of the
principal of and any premium or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons
entitled thereto, a sum sufficient to pay such principal and any premium or interest so becoming due on Securities of that series until
such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of such action,
or any failure (by it or any other obligor on such Securities) to take such action. Whenever the Company shall have one or more paying
agents for any series of Securities, it will, prior to each due date of the principal of and any premium or interest on any Securities
of that series, deposit with the paying agent a sum sufficient to pay the principal and any premium or interest so becoming due, such
sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such paying agent
is the Trustee) the Company shall promptly notify the Trustee of this action or failure so to act.

 

(c)            Notwithstanding
anything in this Section 4.3 to the contrary, (i) the agreement to hold sums in trust as provided in this Section is
subject to the provisions of Section 11.5 and (ii) the Company may at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust
by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums
were held by the Company or such paying agent; upon such payment by any paying agent to the Trustee, such paying agent shall be released
from all further liability with respect to such money.

 

Section 4.4           Appointment
to Fill Vacancy in Office of Trustee.

 

The Company, whenever necessary to avoid or fill
a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at
all times be a Trustee hereunder.

 

Section 4.5           Compliance
with Consolidation Provisions.

 

The Company will not, while any of the Securities
remain Outstanding, consolidate with, or merge into, or merge into itself, or sell or convey all or substantially all of its property
to any other company unless the provisions of Article Ten hereof are complied with.

 

Section 4.6           Statement
by Officers as to Default.

 

The Company will deliver to the Trustee, within
120 days after the end of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate signed by
its principal executive officer, principal financial officer or principal accounting officer stating whether or not to the best knowledge
of the signer thereof, the Company is in default in the performance or observance of any of the terms, provisions and conditions of this
Indenture, and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have
knowledge.

 

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ARTICLE V

SECURITYHOLDERS’ LISTS AND REPORTS

BY THE COMPANY AND THE TRUSTEE

 

Section 5.1           Company
to Furnish Names and Addresses of Securityholders to Trustee.

 

The Company will furnish or cause to be furnished
to the Trustee (a) semiannually on _____ ___ and _____ ___, a list, in such form as the Trustee may reasonably require, of the names
and addresses of the holders of each series of Securities as of such date, provided that the Company shall not be obligated to furnish
or cause to be furnished such list at any time that the list shall not differ in any respect from the most recent list furnished to the
Trustee by the Company and (b) at such other times as the Trustee may request in writing within 30 days after the receipt by
the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list
is furnished; provided, however, that, in either case, no such list need be furnished for any series of Securities for which the Trustee
shall be the Security Registrar.

 

Section 5.2           Preservation
of Information; Communications with Securityholders.

 

(a)            The
Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the holders
of Securities contained in the most recent list furnished to it as provided in Section 5.1 and as to the names and addresses
of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity).

 

(b)            The
Trustee may destroy any list furnished to it as provided in Section 5.1 upon receipt of a new list so furnished.

 

(c)            Securityholders
may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with respect to their rights
under this Indenture or under the Securities. The Company, the Trustee, the Security Registrar and anyone else shall have the protection
of Section 312(c) of the Trust Indenture Act with respect to the sending of any material pursuant to a request made pursuant
to Section 312(b) of the Trust Indenture Act.

 

Section 5.3           Reports
by the Company.

 

(a)            The
Company covenants and agrees to file with the Trustee (unless such reports have been filed on the Securities and Exchange Commission’s
Electronic Data Gathering, Analysis, and Retrieval system), within 15 days after the Company files the same with the Securities and
Exchange Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any
of the foregoing as the Securities and Exchange Commission may from time to time by rules and regulations prescribe) that the Company
may be required to file with the Securities and Exchange Commission pursuant to Section 13 or Section 15(d) of the Exchange
Act. If the Company is no longer required to file information, documents or reports pursuant to either of such sections of the Exchange
Act, the Company shall continue to provide the Trustee with reports containing substantially the same information as would have been required
to be filed with the Securities Exchange Commission had the Company continued to have been subject to such reporting requirements. In
such event, such reports shall be provided to the Trustee within 15 days after the dates applicable to a registrant that is not an
accelerated filer or a large accelerated filer on which the Company would have been required to provide reports to the Securities and
Exchange Commission had it continued to have been subject to such reporting requirements. For the avoidance of doubt, the Company shall
also comply with the other provisions of Section 314(a) of the Trust Indenture Act.

 

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(b)            The
Company covenants and agrees to file with the Trustee and the Securities and Exchange Commission, in accordance with the rules and
regulations prescribed from to time by the Securities and Exchange Commission, such additional information, documents and reports with
respect to compliance by the Company with the conditions and covenants provided for in this Indenture as may be required from time to
time by such rules and regulations.

 

(c)            The
Company covenants and agrees to transmit electronically or by mail, first class postage prepaid, or reputable over-night delivery service
that provides for evidence of receipt, to the Securityholders, as their names and addresses appear upon the Security Register, within
30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed
by the Company pursuant to subsections (a) and (b) of this Section 5.3 as may be required by rules and regulations
prescribed from time to time by the Securities and Exchange Commission.

 

Section 5.4           Reports
by the Trustee.

 

(a)            On
or before _____ ___ in each year in which any of the Securities are Outstanding, the Trustee shall transmit by mail, first class postage
prepaid, to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated as of the preceding
_____ ___, if and to the extent required under Section 313(a) of the Trust Indenture Act, detailing certain events that occurred
within the previous 12 months.

 

(b)            The
Trustee shall comply with Sections 313(b) and 313(c) of the Trust Indenture Act.

 

(c)            A
copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company, with each
stock exchange upon which any Securities are listed (if so listed) and also with the Securities and Exchange Commission. The Company agrees
to notify the Trustee when any Securities become listed on any stock exchange.

 

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ARTICLE VI

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS

ON EVENT OF DEFAULT

 

Section 6.1           Events
of Default.

 

(a)            Whenever
used herein with respect to Securities of a particular series, “Event of Default” means any one or more of the following events
that has occurred and is continuing:

 

(1)          the
Company defaults in the payment of any installment of interest upon any of the Securities of that series, as and when the same shall become
due and payable, and continuance of such default for a period of 30 days; provided, however, that a valid extension
of an interest payment period by the Company in accordance with the terms of any indenture supplemental hereto, shall not constitute a
default in the payment of interest for this purpose;

 

(2)          the
Company defaults (a)  in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and when
the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or (b) in
any payment required by any sinking or analogous fund established with respect to that series, whether or not such payment is prohibited
by Article Fourteen and the provisions of any indenture supplemental hereto; provided, however, that a valid extension
of the maturity of such Securities in accordance with the terms of any indenture supplemental hereto, shall not constitute a default in
the payment of principal or any premium for this purpose;

 

(3)          the
Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in this Indenture or
otherwise established with respect to that series of Securities pursuant to Section 2.1 hereof (other than a covenant or agreement
that has been expressly included in this Indenture solely for the benefit of one or more series of Securities other than such series)
for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied and stating that
such notice is a “Notice of Default” hereunder, shall have been given in writing to the Company by the Trustee, or to the
Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series at the time Outstanding;

 

(4)          if
the Securities of the series are convertible into shares of common stock or other securities of the Company, failure by the Company to
deliver common stock or the other securities when the holder or holders of such Securities elect to convert such Securities into shares
of common stock or other securities of the Company;

 

(5)          the
Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry of
an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially
all of its property or (iv) makes a general assignment for the benefit of its creditors;

 

(6)          a
court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in an involuntary
case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the liquidation
of the Company, and, in each such case, the order or decree remains unstayed and in effect for 90 days; or

 

(7)          any
other Event of Default provided with respect to Securities of that series.

 

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(b)            In
each and every such case (other than an Event of Default specified in clauses (5) or (6) above), unless the principal of all
the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate
principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee,
if given by such Securityholders), may declare the principal (or, if the Securities of such series are Original Issue Discount Securities,
such portion of the principal amount as may be specified in the terms of such series) of, premium, if any, and accrued interest, if any,
on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall
be immediately due and payable, notwithstanding anything contained in this Indenture or in the Securities of that series or established
with respect to that series pursuant to Section 2.1 to the contrary. If an Event of Default specified in clauses (5) or
(6) above occurs, all unpaid principal (or, if the Securities of such series are Original Issue Discount Securities, such portion
of the principal amount as may be specified in the terms of such series) of, premium, if any, and accrued interest, if any, on, all the
Securities of that series then outstanding will become automatically due and payable immediately, without any declaration or other act
on the part of the Trustee or any holder.

 

(c)            At
any time after the principal of the Securities of that series shall have been so declared due and payable, and before any judgment or
decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority in aggregate
principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and the Trustee, may rescind
and annul such declaration and its consequences if: (i) the Company has paid or deposited with the Trustee a sum sufficient to pay
all matured installments of interest upon all the Securities of that series and the principal of (and premium, if any, on) any and all
Securities of that series that shall have become due otherwise than by acceleration (with interest upon such principal and premium, if
any, and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per
annum or Yield to Maturity (in the case of Original Issue Discount Securities) expressed in the Securities of that series (or at the respective
rates of interest or Yields to Maturity of all the Securities, as the case may be) to the date of such payment or deposit) and any amount
payable to the Trustee under Section 7.6, and (ii) any and all Events of Default under the Indenture with respect to
such series, other than the non-payment of principal, premium, if any, or interest on Securities of that series that (or, if any Securities
are Original Issue Discount Securities, such portion of the principal as may be specified in the terms thereof) shall not have become
due by their terms, shall have been remedied or waived as provided in Section 6.6.

 

No such rescission and annulment shall extend to
or shall affect any subsequent default or impair any right consequent thereon.

 

(d)            In
case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture and such proceedings
shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined
adversely to the Trustee, then and in every such case, the Company and the Trustee shall be restored respectively to their former positions
and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though no such proceedings
had been taken.

 

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Section 6.2           Collection
of Indebtedness and Suits for Enforcement by Trustee.

 

(a)            The
Company covenants that (i) in case it shall default in the payment of any installment of interest on any of the Securities of a series,
or any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have become
due and payable, and such default shall have continued for a period of 30 days, or (ii) in case it shall default in the payment
of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable, whether
upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise, then, upon demand of the Trustee, the
Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have
been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be, with
interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable
law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto,
such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, and the amount payable to the Trustee
under Section 7.6.

 

(b)            If
the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust,
shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid,
and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against
the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner
provided by law out of the property of the Company or other obligor upon the Securities of that series, wherever situated.

 

(c)            In
case of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or judicial proceedings
affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings and take any action
therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled to file such proofs of claim
and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of Securities
of such series allowed for the entire amount due and payable by the Company under this Indenture at the date of institution of such proceedings
and for any additional amount that may become due and payable by the Company after such date, and to collect and receive any moneys or
other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee
under Section 7.6; any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the holders
of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such
payments directly to such Securityholders, to pay to the Trustee any amount due it under Section 7.6.

 

(d)            All
rights of action and of asserting claims under this Indenture, or under any of the terms established with respect to Securities of that
series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other
proceeding relating thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of
an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.6,
be for the ratable benefit of the holders of the Securities of such series.

 

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In case of an Event of Default hereunder, the Trustee
may, in its discretion, proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings
as the Trustee shall deem most effective to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise,
whether for the specific enforcement of any covenant or agreement contained in the Indenture or in aid of the exercise of any power granted
in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

 

Nothing contained herein shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment
or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect
of the claim of any Securityholder in any such proceeding.

 

Section 6.3           Application
of Moneys Collected.

 

Any moneys collected by the Trustee pursuant to
this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed
by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest (upon presentation
of the Securities of that series and notation thereon the payment if only partially paid) and upon surrender thereof (if fully paid):

 

FIRST: To the payment of costs and expenses of
collection and of all amounts payable to the Trustee under Section 7.6;

 

SECOND: To the payment of all senior indebtedness
of the Company if and to the extent required by Article Fourteen; and

 

THIRD: To the payment of the amounts then due and
unpaid upon the Securities of such series for principal and any premium and interest, in respect of which or for the benefit of which
such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities
for principal and any premium and interest, respectively.

 

Section 6.4           Limitation
on Suits.

 

No holder of a Security of any series shall have
any right by virtue or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law
upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless
(i) such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with
respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less
than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee
to institute such action, suit or proceeding in its own name as trustee hereunder; (iii) such holder or holders shall have offered
to the Trustee such reasonable indemnity satisfactory to it against the costs, expenses and liabilities to be incurred therein or thereby;
and (iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute
any such action, suit or proceeding; and (v) during such 60 day period, the holders of a majority in principal amount of the
Securities of that series do not give the Trustee a direction inconsistent with the request.

 

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Notwithstanding anything contained herein to the
contrary or any other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of and
any premium and (subject to Section 2.3) interest on such Security (whether upon redemption, repurchase, maturity or otherwise)
or payment or delivery of any amounts due upon conversion of Securities of any series that are convertible into shares of common stock
or other securities, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption
or repurchase, on the redemption date or repurchase date, respectively), or to institute suit for the enforcement of any such payment
or delivery on or after such respective dates (including the redemption date or repurchase date, as applicable) shall not be impaired
or affected without the consent of such holder. By accepting a Security hereunder, it is expressly understood, intended and covenanted
by the taker and holder of every Security of such series with every other such taker and holder and the Trustee, that no one or more holders
of Securities of such series shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture
to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over
or preference to any other such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the
equal, ratable and common benefit of all holders of Securities of such series. For the protection and enforcement of the provisions of
this Section 6.4, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at
law or in equity.

 

Section 6.5           Rights
and Remedies Cumulative; Delay or Omission Not Waiver.

 

(a)            Except
as otherwise provided in Section 2.7, all powers and remedies given by this Article to the Trustee or to the Securityholders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee
or the holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and
agreements contained in this Indenture or otherwise established with respect to such Securities.

 

(b)            No
delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon any Event of Default
occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or
on acquiescence therein; and, subject to the provisions of Section 6.4, every power and remedy given by this Article or
by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee
or by the Securityholders.

 

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Section 6.6           Control
by Securityholders.

 

The holders of a majority in aggregate principal
amount of the Securities of any series at the time Outstanding, determined in accordance with Section 8.4, shall have the
right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust
or power conferred on the Trustee with respect to such series; provided, however, that such direction shall not be in conflict
with any rule of law or with this Indenture or be unduly prejudicial to the rights of holders of Securities of such series not consenting;
and provided, further, that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent
with such direction. Prior to the taking of any action hereunder, the Trustee shall be entitled to reasonable indemnification satisfactory
to the Trustee against all losses and expenses caused by taking or not taking such action. Subject to the provisions of Section 7.1,
the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer
or Officers of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability. The holders of
a majority in aggregate principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance
with Section 8.4, may determine, and may have the Trustee on behalf of the holders of all of the Securities of such series
waive any past default in the performance of any of the covenants contained herein or established pursuant to Section 2.1
with respect to such series and its consequences, except for (a) a default in the payment of the principal of or any premium or interest
on, any of the Securities of that series (whether upon redemption, repurchase, maturity or otherwise) or payment or delivery of any amounts
due upon conversion of Securities of any series that are convertible into shares of common stock or other securities as and when the same
shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient
to pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with Section 6.1(c)),
or (b) if the Securities of that series are convertible into shares of common stock or other securities, the failure by the Company
to deliver common stock or the other securities, as and when they shall become deliverable by the terms of such Securities. Upon any such
waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the
holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver
shall extend to any subsequent or other default or impair any right consequent thereon.

 

Section 6.7           Undertaking
to Pay Costs.

 

All parties to this Indenture agree, and each holder
of any Securities, by such holder’s acceptance thereof shall be deemed to have agreed, that any court may in its discretion require,
in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or
omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such
court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided, however,
that the provisions of this Section 6.7 shall not apply to any suit instituted by the Trustee, to any suit instituted by any
Securityholder, or group of Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities of any
series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or
interest on any Security of such series, on or after the respective due dates expressed in such Security or established pursuant to this
Indenture.

 

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ARTICLE VII

CONCERNING THE TRUSTEE

 

Section 7.1           Certain
Duties and Responsibilities of Trustee.

 

(a)            The
Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing of all Events
of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities
of such series such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants shall be read
into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred (that has
not been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers vested in
it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the
circumstances in the conduct of such person’s own affairs.

 

(b)            No
provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure
to act, or its own willful misconduct, except that:

 

(1)          prior
to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of all such Events
of Default with respect to that series that may have occurred:

 

(i)            the
duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express provisions
of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such
duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and

 

(ii)            in
the absence of bad faith on the part of the Trustee, the Trustee may, with respect to the Securities of such series, conclusively rely,
as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to
the Trustee and conforming to the requirements of this Indenture; however, in the case of any such certificates or opinions that by any
provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Indenture;

 

(2)          the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee,
unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts;

 

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(3)          the
Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction
of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding (determined as
provided in Section 8.4) relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series;
and

 

(4)          none
of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial
liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for
believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Indenture or adequate
indemnity against such risk is not reasonably assured to it.

 

Section 7.2           Certain
Rights of Trustee.

 

Except as otherwise provided in Section 7.1:

 

(a)            The
Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any document (whether in its original
or facsimile form) believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate
any fact or matter stated in the document. The Trustee shall receive and retain financial reports and statements of the Company as provided
herein, but shall have no duty to review or analyze such reports or statements to determine compliance under covenants or other obligations
of the Company.

 

(b)            Before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate and an Opinion of Counsel, which shall conform
to the provisions of Section 13.7. The Trustee shall not be liable for any action it takes or omits to take in good faith
in reliance on such certificate or opinion.

 

(c)            The
Trustee may act through its attorneys and agents, and shall not be responsible for the misconduct or negligence of any agent appointed
with due care.

 

(d)            The
Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.

 

(e)            The
permissive rights of the Trustee to take actions enumerated in this Indenture shall not be construed as duties.

 

(f)             Except
with respect to Section 4.1, the Trustee shall have no duty to inquire as to the performance of the Company with respect to
the covenants contained in Article Four. In addition, the Trustee shall not be deemed to have knowledge of an Event of Default, except
(i) any Default or Event of Default occurring pursuant to Section 6.1(a)(2) or (ii) any Default or Event of
Default of which a Responsible Officer of the Trustee shall have received written notification from the Company or any Holder of such
Default or Event of Default at the Corporate Trust Office, and such notice references the applicable series of Securities and this Indenture.

 

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(g)            The
rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified, are extended to,
and shall be enforceable by, the Trustee in each of its capacities (including as Paying Agent) hereunder, and to each agent, custodian
and other Person employed to act hereunder.

 

(h)            Delivery
of reports, information and documents to the Trustee under Section 5.3 is for informational purposes only; the Trustee’s
receipt of the foregoing shall not constitute constructive notice of any information contained therein or determinable from information
contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to
rely exclusively on an Officers’ Certificate).

 

(i)             The
Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person
authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously
delivered and not superseded.

 

(j)             Anything
in this Indenture notwithstanding, in no event shall the Trustee be liable for special, indirect, punitive or consequential loss or damage
of any kind whatsoever (including but not limited to loss of profit), even if the Trustee has been advised as to the likelihood of such
loss or damage and regardless of the form of action.

 

(k)            The
Trustee shall not be responsible or liable for any failure or delay in the performance of its obligations under this Indenture arising
out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, (i) acts
of God, including earthquakes, fire and flood; (ii) terrorism, wars and other military disturbances; (iii) sabotage, epidemics
and riots; (iv) interruptions, loss or malfunctions of utilities, computer (hardware or software) or communication services; (v) accidents
and labor disputes; and (vi) acts of civil or military authorities and governmental actions.

 

Section 7.3           Trustee
Not Responsible for Recitals or Issuance or Securities.

 

(a)            The
recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility
for the correctness of the same.

 

(b)            The
Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities.

 

(c)            The
Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds of such Securities,
or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established
pursuant to Section 2.1, or for the use or application of any moneys received by any paying agent other than the Trustee.

 

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Section 7.4           May Hold
Securities.

 

The Trustee or any paying agent or Security Registrar,
in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not
Trustee, paying agent or Security Registrar.

 

Section 7.5           Moneys
Held in Trust.

 

Subject to the provisions of Section 11.5,
all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were
received, but need not be segregated from other funds of the Trustee except to the extent required by law. The Trustee shall be under
no liability for interest on any moneys received by it hereunder, except such as it may agree with the Company to pay thereon.

 

Section 7.6           Compensation
and Reimbursement.

 

(a)            The
Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation (which shall not
be limited by any provision of law in regard to the compensation of a trustee of an express trust), as the Company and the Trustee may
from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and in the exercise
and performance of any of the powers and duties hereunder of the Trustee. Except as otherwise expressly provided herein, the Company will
pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee
in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of
its counsel and of all Persons not regularly in its employ). Except any such expense, disbursement or advance as may arise from its negligence
or bad faith. The Company also covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold
it harmless against, any loss, liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out
of or in connection with the acceptance or administration of the trusts hereby created, including the reasonable costs and expenses of
defending itself against any claim of liability in the premises.

 

(b)            The
obligations of the Company under this Section 7.6 to compensate and indemnify the Trustee and to pay or reimburse the Trustee
for reasonable expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall
be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds
held in trust for the benefit of the holders of particular Securities. The provisions of this Section 7.6 shall survive the
resignation or removal of the Trustee and the termination of this Indenture.

 

(c)            When
the Trustee incurs expenses or renders services after a Default specified in Section 6.1(a)(5) and (6) occurs, such
expenses (including the charges and expenses of its counsel) and the compensation for such services shall be paid to the extent allowed
under any Bankruptcy Law and are intended to constitute expenses of administration under any Bankruptcy Law.

 

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Section 7.7           Reliance
on Officers’ Certificate.

 

Except as otherwise provided in Section 7.1,
whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved
or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof
be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively
proved and established by an Officers’ Certificate delivered to the Trustee and such certificate, in the absence of negligence or
bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it
under the provisions of this Indenture upon the faith thereof.

 

Section 7.8           Disqualification;
Conflicting Interests.

 

If the Trustee has or shall acquire any “conflicting
interest” within the meaning of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with the provisions
of Section 310(b) of the Trust Indenture Act.

 

Section 7.9           Corporate
Trustee Required; Eligibility.

 

There shall at all times be a Trustee with respect
to the Securities issued hereunder, which shall at all times be a corporation organized and doing business under the laws of the United
States of America or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act
as trustee by the Securities and Exchange Commission, authorized under such laws to exercise corporate trust powers, having a combined
capital and surplus of at least 50 million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state,
territorial or District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or
to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 7.9, the combined
capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report
of condition so published. The Company may not, nor may any Person directly or indirectly controlling, controlled by or under common control
with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this
Section 7.9, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10.

 

Section 7.10         Resignation
and Removal; Appointment of Successor.

 

(a)            The
Trustee or any successor hereafter appointed, may at any time resign with respect to the Securities of one or more series by giving written
notice thereof to the Company and by transmitting notice of resignation electronically or by mail, first class postage prepaid, to the
Securityholders of such series, as their names and addresses appear upon the Security Register. Upon receiving such notice of resignation,
the Company shall promptly appoint a successor trustee with respect to the Securities of such series by or pursuant to a Board Resolution.
If no successor trustee shall have been so appointed and have accepted such appointment within 30 days after the mailing of such
notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee
with respect to such Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security or
Securities for at least six months may on behalf of himself and all others similarly situated, petition any such court for the appointment
of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.

 

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(b)           In
case at any time any one of the following shall occur:

 

(1)          the
Trustee shall fail to comply with the provisions of Section 7.8 after written request therefor by the Company or by any Securityholder
who has been a bona fide holder of a Security or Securities for at least six months; or

 

(2)          the
Trustee shall cease to be eligible in accordance with the provisions of Section 7.9 and shall fail to resign after written
request therefor by the Company or by any such Securityholder; or

 

(3)          the
Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding,
or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control
of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, the
Company may remove the Trustee with respect to all Securities and appoint a successor trustee by or pursuant to a Board Resolution, or,
unless the Trustee’s duty to resign is stayed as provided herein, any Securityholder who has been a bona fide holder of a Security
or Securities for at least six months may, on behalf of that holder and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon after such notice, if
any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

 

(c)           The
holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may at any time remove the
Trustee with respect to such series by so notifying the Trustee and the Company, and may appoint a successor Trustee for such series with
the written consent of the Company.

 

(d)           Any
resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series pursuant to any
of the provisions of this Section 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided
in Section 7.11.

 

(e)           Any
successor trustee appointed pursuant to this Section 7.10 may be appointed with respect to the Securities of one or more series
or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.

 

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Section 7.11     Acceptance
of Appointment by Successor.

 

(a)           In
case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so appointed shall
execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further act, deed or conveyance,
shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; however, upon the request of the Company or
the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such
successor trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor
trustee all property and money held by such retiring Trustee hereunder.

 

(b)           In
case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all) series, the Company,
the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture
supplemental hereto wherein each successor trustee shall accept such appointment and which (1) shall contain such provisions as shall
be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates,
(2) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall
continue to be vested in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing
herein or in such supple- mental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall
be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee
and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder. The execution and delivery
of such supplemental indenture, the resignation or removal of the retiring Trustee shall become effective to the extent provided therein,
such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee
relates have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested
in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which
the appointment of such successor trustee relates; however, upon request of the Company or any successor trustee, such retiring Trustee
shall duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property
and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such
successor trustee relates.

 

(c)           Upon
request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming
to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section 7.11,
as the case may be.

 

(d)           No
successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and eligible
under this Article.

 

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(e)           Upon
acceptance of appointment by a successor trustee as provided in this Section 7.11, the Company shall transmit notice of the
succession of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear
upon the Security Register. If the Company fails to transmit such notice within ten days after acceptance of appointment by the successor
trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company.

 

Section 7.12     Merger,
Conversion, Consolidation or Succession to Business.

 

Any corporation into which the Trustee may be merged
or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to the corporate trust business of the Trustee, shall be the successor of
the Trustee hereunder, provided that such corporation shall be qualified under the provisions of Section 7.8 and eligible
under the provisions of Section 7.9, without the execution or filing of any paper or any further act on the part of any of
the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but not delivered,
by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication
and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities.

 

Section 7.13     Preferential
Collection of Claims Against the Company.

 

The Trustee shall comply with Section 311(a) of
the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee
who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.

 

Section 7.14     Notice
of Defaults.

 

If a Default occurs and is continuing hereunder
with respect to Securities of any series and if it is actually known to a Responsible Officer of the Trustee, the Trustee shall send to
each holder of such Securities notice of the Default within 90 days after such Default occurs provided, however, that
in the case of any Default of the character specified in Section 6.1(a)(3) with respect to Securities of such series,
no such notice to Holders shall be given until at least 30 days after the occurrence thereof. Except in the case of a default in payment
of principal of or interest on any Security (whether upon redemption, repurchase, maturity or otherwise) (including payments pursuant
to the redemption or repurchase provisions of such Security, if any) or payment or delivery of any amounts due upon conversion of Securities
of any series that are convertible into shares of common stock or other securities, the Trustee may withhold the notice if and so long
as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the holders of
such Securities.

 

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ARTICLE VIII

CONCERNING THE SECURITYHOLDERS

 

Section 8.1       Evidence
of Action by Securityholders.

 

Whenever in this Indenture it is provided that
the holders of a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any
action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action),
the fact that at the time of taking any such action the holders of such majority or specified percentage of that series have joined therein
may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series
in Person or by agent or proxy appointed in writing.

 

If the Company shall solicit from the Securityholders
of any series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option,
as evidenced by an Officers’ Certificate, fix in advance a record date (in accordance with Section 316(c) of the Trust
Indenture Act) for such series for the determination of Securityholders entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request,
demand, authorization, direction, notice, consent, waiver or other action may be given before or after the record date, but only the Securityholders
of record at the close of business on the record date shall be deemed to be Securityholders for the purpose of determining whether Securityholders
of the requisite proportion of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed as
of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record
date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months
after the record date.

 

Section 8.2       Proof
of Execution by Securityholders.

 

Subject to the provisions of Section 7.1,
proof of the execution of any instrument by a Securityholder (such proof will not require notarization) or his or her agent or proxy and
proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner:

 

(a)           The
fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Company.

 

(b)           The
ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar thereof.

 

(c)           The
Trustee or the Company may require such additional proof of any matter referred to in this Section 8.2 as it shall deem necessary.

 

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Section 8.3       Who
May be Deemed Owners.

 

Prior to the due presentment for registration of
transfer of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose
name such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security
shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for
the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.3) interest
on such Security and for all other purposes. Neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall
be affected by any notice to the contrary.

 

Section 8.4       Certain
Securities Owned by Company Disregarded.

 

In determining whether the holders of the requisite
aggregate principal amount of Securities of a particular series have concurred in any direction or consent (or waiver, as the case may
be) under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series,
or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any
other obligor on the Securities of that series, shall be disregarded and deemed not to be Outstanding for the purpose of any such determination,
except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction or consent (or waiver,
as the case may be), only Securities of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities
so owned that have been pledged in good faith may be regarded as Outstanding for the purposes of this Section 8.4, if the
pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that
the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company
or any such other obligor. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be
full protection to the Trustee.

 

Section 8.5       Actions
Binding on Future Securityholders.

 

At any time prior to (but not after) the evidencing
to the Trustee, as provided in Section 8.1, of the taking of any action by the holders of the majority or percentage in aggregate
principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a
Security of that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action
may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.2, revoke such action so
far as concerns such Security. Except as aforesaid, any such action taken by the holder of any Security shall be conclusive and binding
upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration
of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any
action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified
in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the
Securities of that series.

 

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ARTICLE IX

SUPPLEMENTAL INDENTURES

 

Section 9.1       Supplemental
Indentures Without the Consent of Securityholders.

 

In addition to any supplemental indenture otherwise
authorized by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders,
for one or more of the following purposes:

 

(a)           to
cure any ambiguity, omission, defect or inconsistency herein or in the Securities of any series;

 

(b)           to
comply with Article Ten;

 

(c)           to
provide for Securities in bearer form, or uncertificated Securities in addition to or in place of certificated Securities;

 

(d)           to
add Guarantees, including Subsidiary Guarantees, with respect to debt securities or to release Subsidiary Guarantors from Subsidiary Guarantees
in accordance with the terms of the applicable series of Securities or to secure a series of Securities;

 

(e)           to
add to the covenants of the Company for the benefit of the holders of all or any series of Securities (and if such covenants are to be
for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit
of such series) or to surrender any right or power herein conferred upon the Company;

 

(f)            to
add to, delete from, or revise the conditions, limitations, and restrictions on the authorized amount, terms or purposes of issue, authentication
and delivery of Securities, as herein set forth;

 

(g)           to
make any change that does not adversely affect the rights of any Securityholder in any material respect, provided that any amendment
to conform the terms of any Securities to its description contained in the final offering document shall not be deemed to be adverse to
any Securityholder;

 

(h)           to
provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided in Section 2.1,
to establish the form of any certifications required to be furnished under the terms of this Indenture or any series of Securities, or
to add to the rights of the holders of any series of Securities;

 

(i)            to
comply with any requirements of the Securities and Exchange Commission in connection with registration of the Securities under the Securities
Act of 1933 qualifying, or maintaining the qualification of, this Indenture under the Trust Indenture Act or to comply with the Trust
Indenture Act; or

 

(j)            to
secure any series of Security.

 

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The Trustee is hereby authorized to join with the
Company in the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may
be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise.

 

Any supplemental indenture authorized by the provisions
of this Section 9.1 may be executed by the Company and the Trustee without the consent of the holders of any of the Securities
at the time Outstanding, notwithstanding any of the provisions of Section 9.2.

 

Section 9.2       Supplemental
Indentures with Consent of Securityholders.

 

With the consent (evidenced as provided in Section 8.1)
of the holders of not less than a majority in aggregate principal amount of the Securities of each series affected by such supplemental
indenture or indentures at the time Outstanding, the Company, when authorized by Board Resolutions, and the Trustee may from time to time
and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture
Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Indenture or of any supplemental indenture or of modifying in any manner not covered by Section 9.1 the rights of the holders
of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without
the consent of the holders of each Security then Outstanding affected thereby, (i) change the maturity date of any Securities of
any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any
premium payable upon the redemption thereof; (ii) reduce the amount of principal of an Original Issue Discount Security or any other
Security payable upon acceleration of maturity; (iii) change the currency in which any Security or any premium or interest is payable;
(iv) impair the right to receive payment of principal of and interest on any Security (whether upon redemption, repurchase, maturity,
or otherwise) or payment or delivery of any amounts due upon conversion of Securities of any series that are convertible into shares of
common stock or other securities on or after the due dates or to institute suit for the enforcement of any payment on or with respect
to any Security; (v) adversely change the right to convert or exchange, including decreasing the conversion rate or increasing the
conversion price of, that Security (if applicable); (vi)  if the Securities are secured, change the terms and conditions pursuant
to which the Securities are secured in a manner adverse to the holders of the Securities; (vii) reduce the percentage in principal
amount of outstanding Securities of any series, the consent of whose holders is required for modification or amendment of this Indenture
or for waiver of compliance with any provision of this Indenture; (viii)  reduce the requirements contained in this Indenture for
a quorum for a meeting or for voting; (ix)  change any obligations of the Company to maintain an office or agency in the places
and for the purposes required by this Indenture; (x) modify the subordination provisions in a manner adverse to the holders of such
Securities; or (xi) modify any of the above provisions.

 

It shall not be necessary for the consent of the
Securityholders of any series affected thereby under this Section 9.2 to approve the particular form of any proposed supplemental
indenture, but it shall be sufficient if such consent shall approve the substance thereof.

 

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Section 9.3       Effect
of Supplemental Indentures.

 

Upon the execution of any supplemental indenture
pursuant to the provisions of this Article or of Section 10.1, this Indenture shall, with respect to such series, be
deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities
under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined,
exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any
such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

 

Section 9.4       Securities
Affected by Supplemental Indentures.

 

Securities of any series affected by a supplemental
indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article or
of Section 10.1, may bear a notation in form approved by the Company, provided such form meets the requirements of any exchange
upon which such series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine,
new Securities of that series so modified as to conform, in the opinion of the Trustee and the Company, to any modification of this Indenture
contained in any such supplemental indenture may be prepared and executed by the Company, authenticated by the Trustee and delivered in
exchange for the Securities of that series then Outstanding.

 

Section 9.5       Execution
of Supplemental Indentures.

 

Upon the request of the Company, accompanied by
the Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of
the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such
supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture
or otherwise, in which case the Trustee may, in its discretion (but without any obligation to do so) enter into such supplemental indenture.
The Trustee, subject to the provisions of Section 7.1, shall be provided an Opinion of Counsel and an Officers’ Certificate
as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by, and conforms
to, the terms of this Article and that it is proper for the Trustee under the provisions of this Article to join in the execution
thereof; provided, however, that such Opinion of Counsel need not be provided in connection with the execution of a supplemental
indenture that establishes the terms of a series of Securities pursuant to Section 2.1 hereof, unless otherwise requested
by the Trustee.

 

Section 9.6       Conformity
with Trust Indenture Act.

 

Every supplemental indenture executed pursuant
to this Article shall conform to the requirements of the Trust Indenture Act of 1939, as amended, in effect on such date.

 

    41

     

    

 

ARTICLE X

SUCCESSOR CORPORATION

 

Section 10.1     Company
May Consolidate, Etc.

 

Unless otherwise specified in a supplemental indenture
hereto, nothing contained in this Indenture or in any of the Securities shall prevent any consolidation or merger of the Company with
or into any other Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or
its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property
of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other Person (whether or not affiliated
with the Company or its successor or successors) authorized to acquire and operate the same. The Company hereby covenants and agrees that,
upon any such consolidation or merger (in each case, if the Company is not the surviving corporation of such transaction), sale, conveyance,
transfer or other disposition, the due and punctual payment of the principal of and any premium and interest on all of the Securities
of all series in accordance with the terms of each series, according to their tenor and the due and punctual performance and observance
of all the covenants and conditions of this Indenture with respect to each series or established with respect to such series pursuant
to Section 2.1 to be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which shall conform
to the requirements of the Trust Indenture Act as then in effect) satisfactory in form to the Trustee executed and delivered to the Trustee
by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which shall have acquired
such property.

 

Section 10.2     Successor
Substituted.

 

(a)           In
case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor Person,
by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment
of the principal of and any premium and interest on all of the Securities of all series Outstanding and the due and punctual performance
of all of the covenants and conditions of this Indenture or established with respect to each series of the Securities pursuant to Section 2.1
to be performed by the Company with respect to each series, such successor Person shall succeed to and be substituted for the Company
with the same effect as if it had been named as the Company herein, and thereupon the predecessor Person shall be relieved of all obligations
and covenants under this Indenture and the Securities.

 

(b)           In
case of any such consolidation, merger, sale, conveyance, transfer or other disposition such changes in phraseology and form (but not
in substance) may be made in the Securities thereafter to be issued as may be appropriate.

 

(c)           Nothing
contained in this Indenture or in any of the Securities shall prevent the Company from merging into itself or acquiring by purchase or
otherwise all or any part of the property of any other Person (whether or not affiliated with the Company).

 

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Section 10.3     Evidence
of Consolidation, Etc. to Trustee.

 

The Trustee, subject to the provisions of Section 7.1,
shall be provided an Opinion of Counsel and an Officers’ Certificate as conclusive evidence that any such consolidation, merger,
sale, conveyance, transfer or other disposition, and any such assumption, comply with the provisions of this Article.

 

ARTICLE XI

SATISFACTION AND DISCHARGE

 

Section 11.1     Satisfaction
and Discharge of Indenture.

 

If at any time: (a) the Company shall have
delivered to the Trustee for cancellation all Securities of a series theretofore authenticated (other than any Securities that shall have
been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.7 and Securities for whose
payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held in trust by the Company and
thereupon repaid to the Company or discharged from such trust, as provided in Section 11.5); or (b) all such Securities
of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or, except in the
case of any Securities that are convertible or exchangeable, are by their terms to become due and payable within one year or are to be
called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company
shall deposit or cause to be deposited with the Trustee as trust funds an amount of money in U.S. dollars sufficient, or non-callable
Governmental Obligations, the principal of and interest on which when due, will be sufficient or a combination thereof, sufficient in
the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation,
including principal and any premium and interest due or to become due to such date of maturity or date fixed for redemption, as the case
may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company
then this Indenture shall thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.3,
2.5, 2.7, 4.1, 4.2, 4.3 and 7.10, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.6
and 11.5, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of
the Company shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series.

 

Section 11.2     Discharge
of Obligations.

 

If at any time all such Securities of a particular
series not heretofore delivered to the Trustee for cancellation or that have not become due and payable as described in Section 11.1
shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds money in U.S. dollars sufficient or an amount
of non-callable Governmental Obligations, the principal of and interest on which when due, will be sufficient or a combination thereof,
sufficient in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee, to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee
for cancellation, including principal and any premium and interest due or to become due to such date of maturity or date fixed for redemption,
as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect
to such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations
of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.3,
2.5, 2.7, 4.1, 4.2, 4.3, 7.6, 7.10 and 11.5 hereof that shall survive until such Securities shall mature and be paid. Thereafter,
Sections 7.6 and 11.5 shall survive.

 

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Section 11.3     Deposited
Moneys to be Held in Trust.

 

All moneys or Governmental Obligations deposited
with the Trustee pursuant to Sections 11.1 or 11.2 shall be held in trust and shall be available for payment as due, either
directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of
Securities for the payment or redemption of which such moneys or Governmental Obligations have been deposited with the Trustee.

 

Section 11.4     Payment
of Moneys Held by Paying Agents.

 

In connection with the satisfaction and discharge
of this Indenture, all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall,
upon demand of the Company, be paid to the Trustee, and thereupon such paying agent shall be released from all further liability with
respect to such moneys or Governmental Obligations.

 

Section 11.5     Repayment
to Company.

 

Any moneys or Governmental Obligations deposited
with any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium or interest on the
Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years after
the date upon which the principal of and any premium or interest on such Securities shall have respectively become due and payable, shall
be repaid to the Company or (if then held by the Company) shall be discharged from such trust. The paying agent and the Trustee thereupon
shall be released from all further liability with respect to such moneys or Governmental Obligations, and the holder of any of the Securities
entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to the Company for the payment thereof.

 

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ARTICLE XII

IMMUNITY OF INCORPORATORS, STOCKHOLDERS,

OFFICERS AND DIRECTORS

 

Section 12.1     No
Recourse.

 

No recourse under or upon any obligation, covenant
or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against
any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor
corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution,
statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, it being expressly understood that this
Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach
to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor
or successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the
obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom. Any and all such personal
liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and
claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities
or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture
and the issuance of such Securities.

 

ARTICLE XIII

MISCELLANEOUS PROVISIONS

 

Section 13.1     Effect
on Successors and Assigns.

 

All the covenants, stipulations, promises and agreements
in this Indenture contained by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not.

 

Section 13.2     Actions
by Successor.

 

Any act or proceeding by any provision of this
Indenture authorized or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed
with like force and effect by the corresponding board, committee or officer of any Person that shall at the time be the lawful sole successor
of the Company.

 

Section 13.3     Notices.

 

Except as otherwise expressly provided herein,
any notice or demand that by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the holders
of Securities to or on the Company may be given or served by being deposited first class postage prepaid in a post-office letterbox addressed
(until another address is filed in writing by the Company with the Trustee), as follows: Protalix BioTherapeutics, Inc., 2 University
Plaza, Suite 100, Hackensack, NJ 07601, Attention: _________________. Any notice, election, request or demand by the Company or any
Securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing
at the Corporate Trust Office of the Trustee.

 

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Section 13.4     Notice
to Holders of Securities; Waiver.

 

Except as otherwise expressly provided herein,
where this Indenture provides for notice to holders of Securities of any event, such notice shall be sufficiently given to holders of
Securities if in writing and mailed, first-class postage prepaid, to each holder of a Security affected by such event, at the address
of such holder as it appears in the Security Register, not earlier than the earliest date, and not later than the latest date, prescribed
for the giving of such notice.

 

In case by reason of the suspension of regular
mail service or by reason of any other cause it shall be impracticable to give such notice to holders of Securities by mail, then such
notification as shall be made with the approval of the Trustee shall constitute sufficient notice to such holder for every purpose hereunder.
In any case where notice to holders of Securities is given by mail, neither the failure to mail such notice, nor any defect in any notice
mailed to any particular holder of a Security shall affect the sufficiency of such notice with respect to other holders of Securities
given as provided herein.

 

Where this Indenture provides for notice in any
manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the applicable event,
and such waiver shall be the equivalent of such notice. Waivers of notice by holders of Securities shall be filed with the Trustee, but
such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.

 

Section 13.5     Governing
Law.

 

This Indenture and each Security shall be deemed
to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the
laws of said State.

 

Section 13.6     Effect
of Headings and Table of Contents.

 

The Article and Section headings herein
and the Table of Contents are for convenience only and shall not affect the construction hereof.

 

Section 13.7     Compliance
Certificates and Opinions.

 

(a)           Upon
any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company
shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent provided for in this Indenture relating
to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions
precedent have been complied with. However, in the case of any such application or demand as to which the furnishing of such documents
is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate
or opinion need be furnished.

 

(b)           Each
certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant
in this Indenture shall include (i) a statement that the Person making such certificate or opinion has read such covenant or condition;
(ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based; (iii) a statement that, in the opinion of such Person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied
with; and (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.
Each opinion delivered to the Trustee hereunder may rely on the facts stated in an Officers’ Certificate delivered therewith.

 

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Section 13.8     Payments
on Business Days.

 

Except as provided pursuant to Section 2.1
pursuant to a Board Resolution, and as set forth in an Officers’ Certificate, or established in one or more indentures supplemental
to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption or repurchase
of any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) (whether upon repurchase, redemption,
maturity, or otherwise) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date
of maturity, redemption, or repurchase, and no additional interest shall accrue for the period after such nominal date.

 

Section 13.9     Conflict
with Trust Indenture Act.

 

If and to the extent that any provision of this
Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed
duties shall control.

 

Section 13.10   Counterparts.

 

This Indenture may be executed in any number of
counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.

 

Section 13.11   Separability.

 

In case any one or more of the provisions contained
in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this
Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein
or therein.

 

Section 13.12   Assignment.

 

The Company will have the right at all times to
assign any of its rights or obligations under this Indenture to a direct or indirect wholly-owned Subsidiary of the Company, provided
that, in the event of any such assignment, the Company, will remain liable for all such obligations. Subject to the foregoing, the Indenture
is binding upon and inures to the benefit of the parties thereto and their respective successors and assigns. This Indenture may not otherwise
be assigned by the parties thereto.

 

    47

     

    

 

ARTICLE XIV

SUBORDINATION OF SECURITIES

 

Section 14.1     Subordination
Terms.

 

The payment by the Company of the principal of
and any premium and interest on any series of Securities issued hereunder shall be subordinated to the extent set forth in an indenture
supplemental hereto relating to such Securities.

 

    48

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Indenture to be duly executed all as of the day and year first above written.

 

	 	PROTALIX BIOTHERAPEUTICS, INC.
	 	 	      
	 	By 	      
	 		Name:
	 		Title:                  

	 	      	               
	 	 	,
	 	as Trustee	 

	 	 	 
	 	By 	 
	 		Name:
	 		Title:Exhibit 10.1

 

Execution Version

 

SUPERPRIORITY SECURED DEBTOR-IN-POSSESSION CREDIT
AND GUARANTY AGREEMENT

 

dated as of April [__], 2022,

 

among

 

GWG
Holdings, Inc. and GWG Life, LLC,

each, a Debtor and Debtor-in-Possession under
Chapter 11 of the Bankruptcy Code,

as Borrower,

 

CERTAIN SUBSIDIARIES OF GWG
Holdings, Inc. and GWG Life, LLC,

each, a Debtor and Debtor-in-Possession under
Chapter 11 of the Bankruptcy Code,

as Guarantor Subsidiaries,

 

THE LENDERS PARTY HERETO

 

and

 

NATIONAL
FOUNDERS LP,

as Administrative Agent and Collateral Agent

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	SECTION 1. DEFINITIONS AND INTERPRETATION	1
	1.1.	Definitions	1
	1.2.	Accounting Terms	28
	1.3.	Interpretation, Etc.	29
	1.4.	Classification of Loans and Borrowings	29
	 	 	 
	SECTION 2. LOANS	30
	2.1.	Loans	30
	2.2.	Discretionary DIP Overadvances	31
	2.3.	[Reserved].	31
	2.4.	Pro Rata Shares; Obligations Several; Availability of Funds	31
	2.5.	Use of Proceeds	32
	2.6.	Evidence of Debt; Register; Notes	32
	2.7.	Interest on Loans	33
	2.8.	Continuation	34
	2.9.	Default Interest	34
	2.10.	Fees	34
	2.11.	Repayment on Maturity Date	35
	2.12.	Voluntary Prepayments	35
	2.13.	Mandatory Prepayments	35
	2.14.	Waivable Mandatory Prepayments	36
	2.15.	General Provisions Regarding Payments	36
	2.16.	Ratable Sharing	37
	2.17.	Administration of the Benchmark	38
	2.18.	Increased Costs; Capital Adequacy and Liquidity	38
	2.19.	Taxes; Withholding, Etc.	39
	2.20.	Obligation to Mitigate	42
	2.21.	Defaulting Lenders	42
	2.22.	Replacement of Lenders	43
	2.23.	Release	43
	2.24.	Compensation for Losses	44
	2.25.	[Reserved].	44
	2.26.	Collateral; Guarantees.	44
	 	 	 
	SECTION 3. CONDITIONS PRECEDENT	46
	3.1.	Closing Date	46
	3.2.	Supplemental Initial Loan Borrowing.	49
	3.3.	Delayed Draw Loan Borrowing.	49
	3.4.	Each Credit Extension.	50
	 	 	 
	SECTION 4. REPRESENTATIONS AND WARRANTIES	51
	4.1.	Organization; Requisite Power and Authority; Qualification	51
	4.2.	Equity Interests and Ownership	51
	4.3.	Due Authorization	51
	4.4.	No Conflict	51
	4.5.	Governmental Approvals	52
	4.6.	Binding Obligation	52

 

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	4.7.	[Reserved]	52
	4.8.	No Material Adverse Effect	52
	4.9.	Adverse Proceedings	52
	4.10.	Payment of Taxes	53
	4.11.	Properties	53
	4.12.	[Reserved]	53
	4.13.	No Defaults	53
	4.14.	Investment Company Act	53
	4.15.	Federal Reserve Regulations	53
	4.16.	Employee Benefit Plans	53
	4.17.	[Reserved]	53
	4.18.	Compliance with Laws	53
	4.19.	Disclosure	54
	4.20.	[Reserved]	54
	4.21.	Sanctioned Persons; Anti-Corruption Laws; PATRIOT Act	54
	4.22.	Policies	54
	4.23.	Cases; Orders.	55
	4.24.	Approved Budget	55
	4.25.	Senior Debt.  The Obligations constitute “Senior Debt” as defined in the Indenture.	55
	 	 	 
	SECTION 5. AFFIRMATIVE COVENANTS	56
	5.1.	Financial Statements and Other Reports	56
	5.2.	Existence, Licenses, Etc.	58
	5.3.	Payment of Taxes	58
	5.4.	[Reserved]	58
	5.5.	Insurance	59
	5.6.	Books and Records; Inspections	59
	5.7.	[Reserved]	59
	5.8.	Compliance with Laws	59
	5.9.	[Reserved]	59
	5.10.	[Reserved]	59
	5.11.	[Reserved]	59
	5.12.	Further Assurances	60
	5.13.	Delayed Draw Premium Reserve Account	60
	5.14.	Use of Proceeds	60
	5.15.	Post-Closing Matters	60
	5.16.	Bankruptcy Related Matters	60
	5.17.	DLP VII Transaction; Competing Transaction	62
	5.18.	Senior Debt	62
	5.19.	DLP IV Credit Agreement	62
	 	 	 
	SECTION 6. NEGATIVE COVENANTS	63
	6.1.	Indebtedness	63
	6.2.	Liens	63
	6.3.	No Further Negative Pledges	64
	6.4.	Restricted Junior Payments	65
	6.5.	Restrictions on Subsidiary Distributions	65
	6.6.	Investments	65
	6.7.	Financial Covenants	66
	6.8.	Fundamental Changes; Disposition of Assets; Equity Interests of Subsidiaries	66
	6.9.	Sales and Leasebacks	67

 

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	6.10.	Transactions with Affiliates and Subject Entities	67
	6.11.	Conduct of Business	67
	6.12.	Hedge Agreements	67
	6.13.	Amendments or Waivers of Organizational Documents and Certain Agreements	68
	6.14.	Fiscal Year	68
	6.15.	Subsidiaries	68
	6.16.	Employee Plans	68
	6.17.	Additional Matters	68
	 	 	 
	SECTION 7. GUARANTEE	69
	7.1.	Guarantee of the Obligations	69
	7.2.	Indemnity by the Borrower; Contribution by the Guarantors	69
	7.3.	Liability of Guarantors Absolute	70
	7.4.	Waivers by the Guarantors	72
	7.5.	Guarantors’ Rights of Subrogation, Contribution, Etc.	72
	7.6.	Continuing Guarantee	73
	7.7.	Authority of the Guarantors or the Borrower	73
	7.8.	Financial Condition of the Credit Parties	73
	7.9.	Bankruptcy, Etc.	73
	 	 	 
	SECTION 8. EVENTS OF DEFAULT	74
	8.1.	Events of Default	74
	8.2.	Remedies	79
	8.3.	Application of Payments	80
	 	 	 
	SECTION 9. AGENTS	80
	9.1.	Appointment of Agents	80
	9.2.	Powers and Duties	81
	9.3.	General Immunity.	81
	9.4.	Acts in Individual Capacity	83
	9.5.	Lenders’ Representations, Warranties and Acknowledgments	83
	9.6.	Right to Indemnity	84
	9.7.	Successor Administrative Agent and Collateral Agent	85
	9.8.	Collateral Documents and Obligations Guarantee	86
	9.9.	Withholding Taxes	88
	9.10.	Administrative Agent May File Bankruptcy Disclosure and Proofs of Claim	88
	 	 	 
	SECTION 10. MISCELLANEOUS	89
	10.1.	Notices	89
	10.2.	Expenses	90
	10.3.	Indemnity	91
	10.4.	Set-Off	92
	10.5.	Amendments and Waivers	92
	10.6.	Successors and Assigns; Participations	94
	10.7.	Independence of Covenants	97
	10.8.	Survival of Representations, Warranties and Agreements	97
	10.9.	No Waiver; Remedies Cumulative	98
	10.10.	Marshalling; Payments Set Aside	98
	10.11.	Severability	98
	10.12.	Independent Nature of Lenders’ Rights	98
	10.13.	Headings	98

 

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	10.14.	APPLICABLE LAW	98
	10.15.	CONSENT TO JURISDICTION	99
	10.16.	WAIVER OF JURY TRIAL	99
	10.17.	Confidentiality	99
	10.18.	Usury Savings Clause	100
	10.19.	Counterparts	100
	10.20.	Effectiveness; Entire Agreement	100
	10.21.	PATRIOT Act	100
	10.22.	Electronic Execution of Assignments	101
	10.23.	No Fiduciary Duty	101
	10.24.	Orders	101
	10.25.	Borrower Representative	102
	10.26.	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	102
	10.27.	SPV Credit Facilities	102

 

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	SCHEDULES:	2.1	Commitments
	 	4.2	Equity Interests and Ownership
	 	4.9	Adverse Proceedings
	 	4.22(a)-1	Policies in Grace
	 	4.22(a)-2	Certain DLP IV Policies With an Irrevocable Beneficiary
	 	5.15	Post-Closing Matters
	 	5.17	DLP VII Transaction
	 	6.1	Indebtedness
	 	6.2	Liens
	 	6.3	Negative Pledges
	 	6.5	Restrictions on Subsidiary Distributions
	 	6.6	Investments
	 	8.1(b)	Default in Other Agreements
	 	10.1	Notices
	 	 	 
	EXHIBITS:	A	Assignment Agreement
	 	B	Closing Date Certificate
	 	C	[Reserved]
	 	D	Funding Notice
	 	E	Interim Order
	 	F	Form of Note
	 	G-1	Form of U.S. Tax Compliance Certificate For Foreign Lenders That Are Not Partnerships For US Federal Income Tax Purposes
	 	G-2	Form of U.S. Tax Compliance Certificate For Foreign Participants That Are Not Partnerships For US Federal Income Tax Purposes
	 	G-3	Form of U.S. Tax Compliance Certificate For Foreign Participants That Are Partnerships For US Federal Income Tax Purposes
	 	G-4	Form of U.S. Tax Compliance Certificate For Foreign Lenders That Are Partnerships For US Federal Income Tax Purposes
	 	H	Closing Checklist
	 	I	DLP VII Transaction Description

 

    v

     

    

 

THIS SUPERPRIORITY SECURED
DEBTOR-IN-POSSESSION CREDIT AND GUARANTY AGREEMENT, dated as of April [__], 2022 (this “Agreement”), is by and
among GWG Holdings, Inc., a Delaware corporation (“Holdings”)
and GWG Life, LLC, a Delaware limited liability company (“GWG Life”,
and together with Holdings, individually, collectively and in all combinations, the “Borrower”), CERTAIN SUBSIDIARIES
OF THE BORROWER party hereto from time to time, as Guarantor Subsidiaries, the LENDERS party hereto and NATIONAL FOUNDERS
LP (“NFLP”), as Administrative Agent and Collateral Agent.

 

On April [__], 2022 (the “Petition
Date”), Holdings, GWG Life and GWG Life USA, LLC, a Delaware limited liability company (“GWG Life USA”, and
together with Holdings and GWG Life, each, a “Debtor” and collectively, the “Debtors”) filed voluntary
petitions with the Bankruptcy Court commencing their respective cases that are pending under Chapter 11 of the Bankruptcy Code (each such
case, a “Case” and collectively, the “Cases”) and have continued in the possession of their assets
and management of their business pursuant to Section 1107(a) and 1108 of the Bankruptcy Code.

 

The Borrower has requested that
the Lenders extend credit to the Borrower in the form of new-money loans in an aggregate principal amount of up to $65,000,000 (plus any
Discretionary DIP Overadvance) pursuant to this Agreement (the “DIP Facility”), with all of the Borrower’s obligations
under the DIP Facility to be guaranteed by each Guarantor Subsidiary.

 

The priority of the DIP Facility
with respect to the Collateral granted to secure the Obligations shall be as set forth in the Interim Order and the Final Order, as applicable,
in each case upon entry thereof by the Bankruptcy Court.

 

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

 

SECTION 1. DEFINITIONS
AND INTERPRETATION

 

1.1. Definitions. As
used in this Agreement (including the recitals hereto), the following terms have the meanings specified below:

 

“Acquisition”
means the purchase or other acquisition (in one transaction or a series of transactions, including pursuant to any merger or consolidation)
of all or substantially all the issued and outstanding Equity Interests in, or all or substantially all the assets of (or all or substantially
all the assets constituting a business unit, division, product line or line of business of), any Person.

 

“Adjusted Term SOFR”
means an interest rate per annum equal to (i) Term SOFR plus (ii) 0.11448%; provided that if Adjusted Term SOFR as so determined
shall ever be less than the Floor, then Adjusted Term SOFR shall be deemed to be the Floor.

 

“Administrative Agent”
means NFLP, in its capacity as administrative agent for the Lenders hereunder and under the other Credit Documents, and its successors
in such capacity as provided in Section 9.

 

“Administrative Agent
Fee Letter” means the Fee Letter, dated as of the Closing Date, between NFLP, as Administrative Agent and Collateral Agent,
and the Borrower.

 

“Administrative Questionnaire”
means an Administrative Questionnaire in a form supplied by the Administrative Agent or another form reasonably acceptable to the Administrative
Agent.

 

    1

     

    

 

“Adverse Proceeding”
means any action, suit, proceeding, hearing or investigation, in each case whether administrative, judicial or otherwise, by or before
any Governmental Authority or any arbitrator, that is pending or, to the knowledge of the Borrower or any Subsidiary, threatened against
or affecting the Borrower or any Subsidiary or any property of the Borrower or any Subsidiary.

 

“Affiliate”
means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by or under common Control with the
Person specified; provided that for purposes of Section 6.10, the term “Affiliate” also means any Person that directly
or indirectly beneficially owns Equity Interests in the Person specified representing 10% or more of the aggregate ordinary voting power
or the aggregate equity value represented by the issued and outstanding Equity Interests in the Person specified and any Person that would
be an Affiliate of any such beneficial owner pursuant to this definition (but without giving effect to this proviso) and provided,
further that the Subject Entities shall not be deemed to be Affiliates of the Borrower.

 

“Agent” means
each of (a) the Administrative Agent, (b) the Collateral Agent and (c) any other Person appointed under the Credit Documents to serve
in an agent or similar capacity.

 

“Aggregate Amounts
Due” as defined in Section 2.16.

 

“Aggregate Payments”
as defined in Section 7.2(b).

 

“Aggregate Supplemental
Initial Commitment” means the aggregate amount of premiums that are required to be paid on the life insurance policies owned
by DLP IV and DLP VI during the month of June 2022, less any amount available to DLP IV or DLP VI, as applicable, for such purpose (including
by receiving an advance under the DLP IV Credit Agreement or the DLP VI Credit Agreement, as applicable) as reasonably determined by the
Borrower in consultation with the Administrative Agent.

 

“Agreement”
as defined in the preamble hereto.

 

“Anti-Corruption Laws”
as defined in Section 4.21.

 

“Applicable Rate”
means, on any day, (i) 9.00% per annum, in the case of a Base Rate Loan, and (ii) 10.00% per annum, in the case of a Term SOFR Loan.

 

“Approved Budget”
means the Initial DIP Budget and any such later DIP Budget approved by the Requisite Lenders in accordance with Section 5.1.

 

“Approved Electronic
Communications” means any notice, demand, communication, information, document or other material that any Credit Party, or its
counsel or advisors, provides to any Agent that is distributed to any Agent or any Lender by means of electronic communications pursuant
to Section 10.1(b).

 

“Approved Plan”
means a Chapter 11 plan of reorganization that is satisfactory to the Administrative Agent in its reasonable discretion and provides for
payment in full in cash of the Obligations on the plan’s effective date, unless otherwise agreed to by the Administrative Agent
and the Lenders.

 

“Asset Sale”
means any Disposition of assets (including, without limitation, Equity Interests), other than a Disposition made in reliance on Section
6.8(a)(i), (ii), (iii) or (iv).

 

    2

     

    

 

“Assignment Agreement”
means an Assignment and Assumption Agreement substantially in the form of Exhibit A, with such amendments or modifications
thereto as may be approved by the Administrative Agent.

 

“Assignment Effective
Date” as defined in Section 10.6(b).

 

“Authorized Officer”
means, with respect to any Person, any individual holding the position of chief executive officer, president, chief operating officer,
chief financial officer, principal accounting officer, treasurer, secretary, assistant secretary, executive vice president or senior vice
president of such Person; provided that, when such term is used in reference to any document executed by, or a certification of,
an Authorized Officer, the secretary or assistant secretary of such Person shall have delivered an incumbency certificate to the Administrative
Agent as to the authority of such individual.

 

“Automatic Stay”
means the automatic stay provided under Section 362 of the Bankruptcy Code.

 

“Avoidance Action”
means the Debtors’ claims and causes of action under sections 502(d), 544, 545, 547, 548 and 550 of the Bankruptcy Code.

 

“Avoidance Action Proceeds”
means any proceeds or property recovered, unencumbered or otherwise in connection with successful Avoidance Actions, whether by judgment,
settlement or otherwise.

 

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

 

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

 

“Bankruptcy Code”
means Title 11 of the United States Code entitled “Bankruptcy”.

 

“Bankruptcy Court”
means the United States Bankruptcy Court for the Southern District of Texas and such other court including any appellate court having
jurisdiction over the Cases from time to time.

 

“Bankruptcy Rules”
means the Federal Rules of Bankruptcy Procedure, as the same may from time to time be in effect and applicable to the Cases.

 

“Base Rate”
means, for any day, the rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective
Rate in effect on such day plus 1⁄2 of 1% per annum and (c) the Term SOFR for a one-month tenor in effect on such day plus one percent
(1%) per annum; provided that, notwithstanding the foregoing, the Base Rate shall at no time be less than one percent (1%) per annum.
Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or Term SOFR shall be effective on the
effective day of such change in the Prime Rate, the Federal Funds Effective Rate or Term SOFR, as the case may be.

 

“Base Rate Borrowing”
means a Borrowing comprised of Base Rate Loans.

 

    3

     

    

 

“Base Rate Loan”
means a Loan bearing interest at a rate determined by reference to the Base Rate.

 

“BEN” means,
collectively, BEN Group, BEN Holdings, and Beneficient Management, L.L.C., a Delaware limited liability company.

 

“BEN Group”
means The Beneficient Company Group, L.P., a Delaware limited partnership

 

“BEN Holdings”
means Beneficient Company Holdings, L.P., a Delaware limited partnership.

 

“Benchmark”
means, with respect to any date of determination, the greater of (i) Adjusted Term SOFR or a Benchmark Replacement Rate and (ii) the
Floor. It is understood that the Benchmark shall be adjusted on a daily basis.

 

“Benchmark Administration
Changes” means, with respect to the Benchmark (including any Benchmark Replacement Rate), any technical, administrative or operational
changes (including without limitation changes to the timing and frequency of determining rates and making payments of interest, length
of lookback periods, and other administrative matters as may be appropriate), in the sole discretion of the Administrative Agent, to reflect
the adoption and implementation of such Benchmark and to permit the administration thereof by the Administrative Agent in a manner substantially
consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not
administratively feasible or that no market practice for the administration of such Benchmark exists, in such other manner of administration
as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement).

 

“Benchmark Replacement
Rate” means a rate determined by the Administrative Agent in accordance with Section 2.17(a) hereof.

 

“Benchmark Transition
Event” as defined in Section 2.17(a).

 

“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.

 

“Bi-Weekly Variance
Cumulative Testing Period” as defined in Section 6.7.

 

“Bi-Weekly Variance
Report” as defined in Section 5.1(m).

 

“Bi-Weekly Variance
Testing Date” as defined in Section 5.1(m).

 

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

 

“Borrower”
as defined in the preamble hereto.

 

“Borrower Representative”
as defined in Section 10.25.

 

“Borrowing”
means Loans made, converted or continued on the same date and, in the case of Term SOFR Loans, as to which a single Interest Period is
in effect.

 

    4

     

    

 

“Business Day”
means any day other than a Saturday or Sunday, a day that is a legal holiday under the laws of the State of New York or the City of Montreal,
Quebec or a day on which banking institutions located in such State or City are authorized or required by law to remain closed.

 

“Capital Lease Obligations”
of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the
right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as
capital leases on a balance sheet of such Person in conformity with GAAP, subject to Section 1.2. The amount of such obligations
shall be the capitalized amount thereof determined in conformity with GAAP, subject to Section 1.2, and the final maturity of such
obligations shall be the date of the last payment due under such lease (or other arrangement) before such lease (or other arrangement)
may be terminated by the lessee without payment of a premium or penalty. For purposes of Section 6.2, a Capital Lease Obligation shall
be deemed to be secured by a Lien on the property being leased and such property shall be deemed to be owned by the lessee.

 

“Carve-Out”
as defined in the Interim Order or the Final Order, as applicable.

 

“Case” and
“Cases” as defined in the recitals to this Agreement.

 

“Cash” means
money, currency or a credit balance in any demand or deposit account.

 

“Cash Collateral”
as defined in the Interim Order or the Final Order, as applicable.

 

“Cash Equivalents”
means, as at any date of determination, any of the following: (a) marketable securities (i) issued or directly and unconditionally
guaranteed as to interest and principal by the United States of America or (ii) issued by any agency of the United States of America and
backed by the full faith and credit of the United States of America, in each case maturing within one year after such date; (b) marketable
direct obligations issued by any State of the United States of America or the District of Columbia or any political subdivision of any
such State or District or any public instrumentality thereof, in each case maturing within one year after such date and having, at the
time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s; (c) commercial paper maturing
no more than 270 days from the date of creation thereof and having, at the time of the acquisition thereof, a rating of at least A-1 from
S&P or at least P-1 from Moody’s; (d) time deposits, certificates of deposit or bankers’ acceptances maturing within
270 days after such date and issued or accepted by any commercial bank organized or licensed to conduct a banking business under the laws
of the United States of America, any State thereof or the District of Columbia that (i) is at least “adequately capitalized”
(as defined in the regulations of its primary Federal banking regulator) and (ii) has Tier 1 capital (as defined in such regulations)
of not less than $500,000,000; (e) fully collateralized repurchase agreements with a term of not more than 30 days from such date
for securities described in clause (a) or clause (b) above and entered into with a financial institution satisfying the criteria described
in clause (d) above; (f) shares of any money market mutual fund that (i) has substantially all its assets invested continuously in
the types of investments referred to in clauses (a) through (e) above, (ii) has net assets of not less than $5,000,000,000 and (iii)
has ratings of at least AA+ from S&P or at least Aa1 from Moody’s; and (g) in the case of any Foreign Subsidiary, other short-term
investments that are analogous to the foregoing, are of comparable credit quality and are customarily used by companies in the jurisdiction
of such Foreign Subsidiary for cash management purposes.

 

“Cash Management Order”
means one or more orders of the Bankruptcy Court, including any interim and/or final orders, entered in the Cases, together with all extensions,
modifications and amendments thereto, in form and substance reasonably satisfactory to the Administrative Agent, which, among other matters,
authorizes the Borrower and the Guarantors to maintain their existing cash management system and open new bank accounts in accordance
with this Agreement.

 

    5

     

    

 

“Change in Law”
means the occurrence, after the Closing Date, of any of the following: (a) the adoption or taking effect of any rule, regulation, treaty
or other law, (b) any change in any rule, regulation, treaty or other law or in the administration, interpretation, implementation
or application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether
or not having the force of law) by any Governmental Authority; provided that, notwithstanding anything herein to the contrary,
(i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued
in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements,
the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities,
in each case pursuant to Basel III or Basel IV, as applicable, shall in each case be deemed to be a “Change in Law”, regardless
of the date enacted, adopted, promulgated or issued.

 

“Change
of Control” means the occurrence of, any of, (i) at any time, Holdings shall cease to own
and control, of record and beneficially, directly or indirectly, one hundred percent (100%) of the aggregate voting and economic power
of the Equity Interests of each Subsidiary of Holdings (including GWG Life) free and clear of all Liens (except Permitted Liens); or (ii)
a “change of control” occurs under any Material Indebtedness (other than the Credit Documents) of Borrower or any of its Subsidiaries.

 

“Claiming Guarantor”
as defined in Section 7.2(b).

 

“Closing Date”
means the date on which the conditions specified in Section 3.1 have been satisfied (or waived in accordance with Section 10.5).

 

“Closing Date Certificate”
means a Closing Date Certificate substantially in the form of Exhibit B.

 

“Closing Fee”
has the meaning given to such term in the Administrative Agent Fee Letter.

 

“Collateral”
means, collectively (i) all of the real, personal and mixed property (including Equity Interests in GWG Life, the Restricted Subsidiaries,
FOXO and BEN) in which Liens are purported to be granted pursuant to the Orders or Collateral Documents as security for all or any part
of the Obligations under this Agreement and the Collateral Documents, and, in each case excluding any Excluded Assets, and (ii) “DIP
Collateral” or words of similar intent, as defined in any Order.

 

“Collateral Agent”
means NFLP, in its capacity as collateral agent for the Secured Parties under the Credit Documents, and its successors in such capacity
as provided in Section 9.

 

“Collateral Documents”
means the Security Agreement and all other instruments, documents and agreements delivered by or on behalf of any Credit Party pursuant
to this Agreement or any of the other Credit Documents in order to grant to, or perfect in favor of, the Collateral Agent, for the benefit
of the Secured Parties, a Lien on any property of such Credit Party as security for the Obligations.

 

“Commitment”
means, individually or collectively, as the context may require, the Initial Commitment, the Supplemental Initial Commitment or the Delayed
Draw Commitment. The aggregate amount of the Commitments as of the Closing Date is $65,000,000, as set forth on Schedule 2.1.

 

“Commitment Schedule”
means the Schedule attached hereto as Schedule 2.1.

 

    6

     

    

 

“Communication”
as defined in Section 10.23.

 

“Competing Transaction”
means (i) any Investment in, financing (or refinancing) of, or direct or indirect sale, transfer, pledge, monetization or other Disposition
(in any manner whatsoever) of any interest or other right of the Borrower or any Restricted Subsidiary in, or with respect to, DLP Holdings
VI, DLP VI or DLP IV or (ii) any financing (or refinancing) of, or direct or indirect sale, transfer, pledge, monetization or other Disposition
(in any manner whatsoever) of any interest or other right of DLP Holdings VI, DLP VI or DLP IV in, or with respect to, any property of
such Person, other than (x) any such Investment, financing (or refinancing), sale, transfer, pledge, monetization or other Disposition
that is with NFLP or an Affiliate thereof or (y) any capital contribution that is made by GWG Life to DLP Holdings VI or DLP IV, or by
DLP Holdings VI to DLP VI, in accordance with the terms of this Agreement in each case of this clause (y).

 

“Confirmation Order”
means an order of the Bankruptcy Court confirming an Approved Plan for the Debtors that is in form and substance satisfactory to the Administrative
Agent in its reasonable discretion (as the same may be amended, supplemented, or modified from time to time after entry thereof in accordance
with the terms thereof).

 

“Connection Income
Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise
Taxes or branch profits Taxes.

 

“Contractual Obligation”
means, with respect to any Person, any material provision of any Security issued by such Person or any material indenture, mortgage, deed
of trust, contract, undertaking or other agreement or instrument to which such Person is a party or by which such Person or any material
portion of its properties is bound or to which such Person or any material portion of its properties is subject.

 

“Control”
means, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies, or the dismissal or appointment of the management, of such Person, whether through the ability to exercise voting power,
the ownership of Securities, by contract, or otherwise. The words “Controlling”, “Controlled by” and “under
common Control with” have correlative meanings.

 

“Credit Date”
means the date of any Credit Extension.

 

“Credit Document”
means each of this Agreement, the Collateral Documents, the Administrative Agent Fee Letter, and, except for purposes of Section 10.5,
the Notes, if any, any Supplemental Collateral Questionnaire, the Orders and all other documents, certificates, instruments or agreements
executed and delivered by or on behalf of any Credit Party for the benefit of any Agent or any Lender in connection herewith on or after
the date hereof and which are designated as “Credit Documents” pursuant to an agreement between the Borrower and the Administrative
Agent.

 

“Credit Extension”
means the making of a Loan, which shall be on a Business Day.

 

“Credit
Parties” means the Borrower and the Guarantor Subsidiaries.

 

“Debtor”
as defined in the preamble hereto.

 

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

 

    7

     

    

 

“Default”
means a condition or event that, after notice or lapse of time or both, would constitute an Event of Default.

 

“Default Rate”
means the interest payable on the Loans pursuant to Section 2.7 plus 4.00%.

 

“Defaulting Lender”
means, subject to Section 2.21(b), any Lender that (a) has failed (i) to fund all or any portion of its Loans within two Business
Days of the date such Loans were required to be funded hereunder, unless such Lender notifies the Administrative Agent and the Borrower
in good faith in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to
funding (which conditions precedent, together with the applicable Default, if any, shall be specifically identified in such writing) has
not been satisfied, or (ii) to pay to the Administrative Agent, the Collateral Agent or any Lender any other amount required to be paid
by it hereunder within two Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent in writing that
it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing
or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such
Lender’s determination that a condition precedent to funding (which condition precedent, together with the applicable Default, if
any, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business
Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower
that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting
Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) is,
or a direct or indirect parent company of such Lender is, (i)  the subject of a Bail-In Action, (ii) insolvent, or is generally unable
to pay its debts as they become due, or admits in writing its inability to pay its debts as they become due, or makes a general assignment
for the benefit of its creditors or (iii) the subject of a proceeding under any Debtor Relief Laws, or a receiver, trustee, conservator,
intervenor or sequestrator or the like (including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority
acting in a like capacity with respect to such Lender) has been appointed for such Lender or its direct or indirect parent company, or
such Lender or its direct or indirect parent company has taken any action in furtherance of or indicating its consent to or acquiescence
in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership
or acquisition of any Equity Interest in such Lender or any direct or indirect parent company thereof by a Governmental Authority so long
as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States
or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject,
repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent or the
Requisite Lenders that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and
binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.21(b)) upon delivery of
written notice of such determination by the Administrative Agent or the Requisite Lenders to the Borrower and each Lender, and, if such
determination is made by the Requisite Lenders, to the Administrative Agent.

 

“Delayed Draw Commitment”
means, with respect to each Lender, the commitment of such Lender to make a Delayed Draw Loan to the Borrower in an aggregate principal
amount not to exceed the amount set forth opposite such Lender’s name on the Commitment Schedule, as applicable, as such amount
may be adjusted from time to time in accordance with this Agreement; provided, that, (i) if any Supplemental Initial Loan is made,
the Delayed Draw Commitment of each Lender shall be reduced by the product of (x) the principal amount of such Supplemental Initial Loan
and (y) the quotient of (1) such Lender’s Delayed Draw Commitment immediately prior to such reduction and (2) the aggregate amount
of all of the Lenders’ Delayed Draw Commitments immediately prior to such reduction, and (ii) the Delayed Draw Commitment of each
Lender shall be zero dollars from and after the DLP VII Option being exercised in accordance with this Agreement. The aggregate amount
of the Lenders’ Delayed Draw Commitments on the Closing Date is $47,000,000.

 

    8

     

    

 

“Delayed Draw Commitment
Termination Date” means the earliest of (a) the Stated Maturity Date, (b) subject to Section 2.2, the termination of unused
Commitments with respect to the DIP Facility and/or the date of acceleration of the Loans in accordance with the terms of this Agreement
upon and during the continuance of an Event of Default, (c) the date of payment in full in cash of all Obligations (other than any contingent
Obligations that survive the expiration or termination of this Agreement) and termination of all the Commitments pursuant to the terms
herein and (d) the effective date of the Debtors’ Approved Plan.

 

“Delayed
Draw Loan” as defined in Section 2.1(a).

 

“Delayed Draw Premium
Reserve Account” a deposit account in the name of Holdings that is maintained at Wells Fargo, Bell Bank or any other financial
institution reasonably acceptable to the Administrative Agent and, in each case, subject to a blocked deposit account control agreement
in form and substance reasonably satisfactory to the Collateral Agent.

 

“Delayed Draw Premium
Reserve Amount” means the aggregate amount of premiums that are anticipated to be paid, during the four month period beginning
on the third (3rd) Business Day following the Final Order Entry Date (the “Calculation Date”), on all of
the life insurance policies that DLP IV owns on the Final Order Entry Date (assuming that each such policy will remain in full force through
the end of such period (x) without such policy being in a state of grace or lapse pending or other similar state during such period and
(y) without any insured under such policy dying during such period), as reasonably determined by the Borrower in consultation with the
Administrative Agent; provided that, such amount shall be reduced by the principal amounts funded under the DLP IV Credit Agreement on
or after the Calculation Date in order to pay premiums on any one or more life insurance policies owned by DLP IV (and, to the extent
that the amount on deposit in the Delayed Draw Premium Reserve Account exceeds the Delayed Draw Premium Reserve Amount after giving effect
to any such reduction, and subject to there being no Event of Default that has occurred and is continuing, the Administrative Agent shall
release such excess from the Delayed Draw Premium Reserve Account to the DIP Facility Proceeds Account).

 

“DIP Budget”
means a detailed rolling thirteen (13)-week cash flow forecast delivered on or prior to the Petition Date and at such times as required
pursuant to the terms of this Agreement thereafter, setting forth forecasted (a) cash receipts of the Credit Parties, (b) cash operating
disbursements of the Credit Parties, and (c) non-operating, bankruptcy-related cash disbursements of the Credit Parties, in each case
on a week-by-week basis during such 13-week period (i) initially, covering the period commencing on or about the Petition Date and (ii)
thereafter, covering the period commencing on the first day of the week during which such updated DIP Budget is required to be delivered
pursuant to Section 5.1(m), as applicable.

 

“DIP Facility”
as defined in the recitals to this Agreement.

 

“DIP Facility Proceeds
Account” means a deposit account in the name of Holdings that is maintained at Bell Bank, Wells Fargo or any other financial
institution reasonably acceptable to the Administrative Agent and, in each case, subject to a springing deposit account control agreement
in form and substance reasonably satisfactory to the Collateral Agent.

 

“DIP Termination
Date” as defined in Section 8.2.

 

    9

     

    

 

“DIP Termination
Declaration” as defined in Section 8.2.

 

“Discretionary
DIP Overadvance” as defined in Section 2.2.

 

“Disposition”
means any sale, transfer, lease, conveyance, assignment or other disposition (including any issuance of Equity Interests in a Subsidiary
or Subject Entity) of any property by any Person, including any sale, transfer, lease, conveyance, assignment or other disposition, with
or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. “Dispose” has
the meaning correlative thereto.

 

“Disqualified Equity
Interest” means, with respect to any Person, any Equity Interest in such Person that, by its terms (or by the terms of any security
or other Equity Interests into which it is convertible or for which it is exchangeable, either mandatorily or at the option of the holder
thereof), or upon the occurrence of any event or condition, (a) matures or is mandatorily redeemable (other than solely for Equity
Interests in such Person that are not Disqualified Equity Interests and Cash in lieu of fractional shares of such Equity Interests), whether
pursuant to a sinking fund obligation or otherwise, (b) is redeemable at the option of the holder thereof (other than solely for
Equity Interests in such Person that do not constitute Disqualified Equity Interests and Cash in lieu of fractional shares of such Equity
Interests), in whole or in part, or is required to be repurchased by the Borrower or any Restricted Subsidiary, in whole or in part, at
the option of the holder thereof (other than solely for Equity Interests in such Person that do not constitute Disqualified Equity Interests
and Cash in lieu of fractional shares of such Equity Interests) or (c) is or becomes convertible into or exchangeable for, either mandatorily
or at the option of the holder thereof, Indebtedness or any other Equity Interests (other than solely for Equity Interests in such Person
that do not constitute Disqualified Equity Interests and Cash in lieu of fractional shares of such Equity Interests), in each case, prior
to the date that is one (1) year after the Stated Maturity Date (determined as of the date of issuance thereof or, in the case of any
such Equity Interests outstanding on the date hereof, the date hereof), except, in the case of clauses (a) and (b), as a result of a “change
of control” or “asset sale”, so long as any rights of the holders thereof upon the occurrence of such a change of control
or asset sale event are subject to the prior payment in full of all Obligations described in clause (a) of the definition of “Obligations”
and, if any are then in effect, the termination of the Commitments; provided that an Equity Interest in any Person that is issued
to any employee or to any plan for the benefit of employees or by any such plan to such employees shall not constitute a Disqualified
Equity Interest solely because it may be required to be repurchased by such Person or any of its Subsidiaries in order to satisfy applicable
statutory or regulatory obligations or as a result of such employee’s termination, death or disability.

 

“DLP Holdings VI”
means GWG DLP Funding Holdings VI, LLC, a Delaware limited liability company.

 

“DLP IV”
means GWG DLP Funding IV, LLC, a Delaware limited liability company.

 

“DLP IV Credit Agreement”
means the Fifth Amended and Restated Loan and Security Agreement, dated as of December 14, 2021, among DLP IV, the financial institutions
party thereto and CLMG Corp., as the administrative agent thereunder.

 

“DLP V” means
GWG DLP Funding V, LLC, a Delaware limited liability company.

 

“DLP V Holdings”
means GWG DLP Funding V Holdings, LLC, a Delaware limited liability company.

 

“DLP VI”
means GWG DLP Funding VI, LLC, a Delaware limited liability company.

 

    10

     

    

 

“DLP VI Credit Agreement”
means the Credit Agreement, dated as of August 11, 2021, by and among DLP VI, the lenders from time to time party thereto and National
Founders LP, a Delaware limited partnership, as administrative agent.

 

“DLP VII Borrower”
as defined in Exhibit I.

 

“DLP VII Option”
as defined in Exhibit I.

 

“DLP VII Option Period”
means the period beginning on the Petition Date through and including the date that is the later of (x) forty-five (45) days thereafter
and (y) five (5) Business Days after the Final Order Entry Date; provided that in no event shall the DLP VII Option Period end
later than June 29, 2022 (or such later date as the Borrower and the Administrative Agent may agree in their respective reasonable discretion
from time to time).

 

“DLP VII Parent”
as defined in Exhibit I.

 

“DLP VII Transaction”
as defined in Exhibit I.

 

“Dollars”
and the sign “$” mean the lawful money of the United States of America.

 

“Domestic Subsidiary”
means any Subsidiary organized under the laws of the United States of America, any State thereof or the District of Columbia.

 

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

 

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

 

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

 

“Electronic Copy”
as defined in Section 10.23.

 

“Electronic Record”
as defined in Section 10.23.

 

“Electronic Signature”
as defined in Section 10.23.

 

“Eligible Assignee”
means (a) any Lender, any Affiliate of any Lender and any Related Fund (any two or more Related Funds of any Lender being treated as a
single Eligible Assignee for all purposes hereof) and (b) any commercial bank, insurance company, investment or mutual fund or other
Person that is an “accredited investor” (as defined in Regulation D under the Securities Act) and that extends credit
or buys loans in the ordinary course of business; provided that in no event shall any natural person (or any holding company, investment
vehicle or trust for, or owned and operated for the primary benefit of, a natural person), any Defaulting Lender, the Borrower, any Subsidiary,
any Subject Entity or any other Affiliate of the Borrower be an Eligible Assignee.

 

    11

     

    

 

“Employee Benefit Plan”
means an “employee benefit plan”, as defined in Section 3(3) of ERISA, that is subject to Parts II, III or IV of Title I of
ERISA or Title IV of ERISA and that is sponsored, maintained or contributed to by, or required to be contributed to by, the Borrower or
any Restricted Subsidiary, or with respect to which the Borrower or any Restricted Subsidiary may have any liability, other than a Foreign
Plan.

 

“Enforcement Notice
Period” as defined in Section 8.1.

 

“Environmental Laws”
means all applicable laws (including common law), statutes, ordinances, orders, rules, regulations, judgments, Governmental Authorizations
or any other requirements of Governmental Authorities relating to pollution or to the protection of the environment, natural resources,
threatened or endangered species or human health and safety.

 

“Environmental Liability”
means all liabilities, obligations, damages, losses, claims, actions, suits, judgments, orders, fines, penalties, fees, expenses and costs,
(including administrative oversight costs, natural resource damages, monitoring and remediation costs and reasonable fees and expenses
of attorneys and consultants), whether contingent or otherwise, arising out of or relating to: (a) compliance or non-compliance
with any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment, recycling, disposal (or arrangement
for such activities) of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the presence or Release of any
Hazardous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed
with respect to any of the foregoing.

 

“Equity Interests”
means any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and
all equivalent ownership interests in a Person (other than a corporation), including partnership interests and membership interests, and
any and all warrants, rights or options to purchase or acquire any of the foregoing or subscribe for any of the foregoing (other than,
prior to the date of such conversion, Indebtedness that is convertible into any such Equity Interests).

 

“ERISA” means
the Employee Retirement Income Security Act of 1974 and the rules and regulations promulgated thereunder.

 

“ERISA Affiliate”
means, with respect to any Person, (a) any corporation that is a member of a controlled group of corporations within the meaning
of Section 414(b) of the Internal Revenue Code of which such Person is a member, (b) any trade or business (whether or not incorporated)
that is a member of a group of trades or businesses under common control within the meaning of Section 414(c) of the Internal Revenue
Code of which such Person is a member and (c) any member of an affiliated service group within the meaning of Section 414(m) or 414(o)
of the Internal Revenue Code of which such Person, any corporation described in clause (a) above or any trade or business described in
clause (b) above is a member. Any Person that was, but has since ceased to be, an ERISA Affiliate (within the meaning of the previous
sentence) of the Borrower or any Restricted Subsidiary shall continue to be considered an ERISA Affiliate of the Borrower or such Restricted
Subsidiary within the meaning of this definition with respect to the period such Person was an ERISA Affiliate of the Borrower or such
Restricted Subsidiary and with respect to liabilities arising after such period for which the Borrower or such Restricted Subsidiary could
be liable under the Internal Revenue Code or ERISA.

 

    12

     

    

 

“ERISA Event”
means (a) the occurrence of a “reportable event” within the meaning of Section 4043 of ERISA and the regulations issued thereunder
with respect to any Pension Plan (excluding those for which the provision for 30 day notice to the PBGC has been waived by regulation),
(b) the failure of the Borrower, any Restricted Subsidiary or any of their respective ERISA Affiliates to meet the minimum funding standard
of Section 412 of the Internal Revenue Code or Section 302 of ERISA with respect to any Pension Plan (whether or not waived in accordance
with Section 412(c) of the Internal Revenue Code) or the failure to make by its due date a required installment under Section 430(j) of
the Internal Revenue Code with respect to any Pension Plan or the failure of the Borrower, any Restricted Subsidiary or any of their respective
ERISA Affiliates to make any required contribution to a Multiemployer Plan, (c) the filing pursuant to Section 412(c) of the Internal
Revenue Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Pension Plan,
(d) the provision by the administrator of any Pension Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate
such plan in a distress termination described in Section 4041(c) of ERISA, (e) the withdrawal by the Borrower, any Restricted Subsidiary
or any of their respective ERISA Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such
Pension Plan resulting in liability to the Borrower, any Restricted Subsidiary or any of their respective Affiliates pursuant to Section
4063 or 4064 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2)
of ERISA, (f) the institution by the PBGC of proceedings to terminate any Pension Plan, or the appointment of a trustee to administer,
any Pension Plan, (g) the incurrence by the Borrower, any Restricted Subsidiary or any of their respective ERISA Affiliates of any liability
with respect to the withdrawal or partial withdrawal from any Pension Plan, (h) the imposition of liability on the Borrower, any Restricted
Subsidiary or any of their respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA, (i) the withdrawal of the Borrower,
any Restricted Subsidiary or any of their respective ERISA Affiliates in a complete or partial withdrawal (within the meaning of Sections
4203 and 4205 of ERISA) from any Multiemployer Plan if there is any liability therefor, (j) the receipt by the Borrower, any Restricted
Subsidiary or any of their respective ERISA Affiliates of notice from any Multiemployer Plan (i) that such Multiemployer Plan is in insolvency
pursuant to Section 4245 of ERISA, (ii) that such Multiemployer Plan is in “endangered” or “critical” status (within
the meaning of Section 432 of the Internal Revenue Code or Section 305 of ERISA) or (iii) that such Multiemployer Plan intends to terminate
or has terminated under Section 4041A or 4042 of ERISA, (k) a determination that any Pension Plan is in “at risk” status (as
defined in Section 430(i)(4) of the Internal Revenue Code or Section 303(i)(4) of ERISA) with respect to any plan year, (l) the occurrence
of an act or omission that could reasonably be expected to give rise to the imposition on the Borrower or any Restricted Subsidiary of
material fines, penalties, taxes or related charges under Chapter 43 of the Internal Revenue Code or under Section 409, Section 502(c),
502(i) or 502(l), or Section 4071 of ERISA in respect of any Employee Benefit Plan, (m) the assertion of a claim (other than routine claims
for benefits) against any Employee Benefit Plan other than a Multiemployer Plan or the assets thereof, or against the Borrower, any Restricted
Subsidiary or any of their respective ERISA Affiliates in connection with any Employee Benefit Plan, (n) receipt from the IRS of notice
of the failure of any Pension Plan (or any other Employee Benefit Plan intended to be qualified under Section 401(a) of the Internal Revenue
Code) to qualify under Section 401(a) of the Internal Revenue Code, or the failure of any trust forming part of any Pension Plan to qualify
for exemption from taxation under Section 501(a) of the Internal Revenue Code, (o) the imposition of a Lien pursuant to Section 430(k)
of the Internal Revenue Code or Section 303(k) of ERISA or a violation of Section 436 of the Internal Revenue Code or (p) the occurrence
of a non-exempt “prohibited transaction” (as defined in Section 4975 of the Internal Revenue Code or Section 406 of ERISA)
with respect to which the Borrower, any Restricted Subsidiary or any of their respective ERISA Affiliates is a “disqualified person”
(within the meaning of Section 4975 of the Internal Revenue Code) or a “party in interest” (within the meaning of Section
406 of ERISA).

 

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

 

“Event of Default”
means any condition or event set forth in Section 8.1.

 

“Exchange Act”
means the Securities Exchange Act of 1934.

 

    13

     

    

 

“Excluded Asset”
as defined in the Security Agreement.

 

“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, 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 or Commitment pursuant to a law in effect on the date on which (i) such Lender
acquires such interest in the Loan or Commitment (other than pursuant to an assignment requested by the Borrower under Section 2.22) or
(ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.19, amounts with respect to
such Taxes were payable either to such Lender’s assignor immediately before such Lender acquired the applicable interest in such
Loan or Commitment or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s
failure to comply with Section 2.19(f) and (d) any withholding Taxes imposed under FATCA.

 

“Exit Fee”
has the meaning given to such term in the Administrative Agent Fee Letter.

 

“Extraordinary Receipts”
means any cash, consideration or other amounts received by or paid to or for the account of any Credit Party not in the ordinary course
of business (and not consisting of proceeds described in any of Section 2.13(a), (b) and (c)), including without limitation foreign, United
States, state or local tax refunds, pension plan reversions, settlement proceeds, any insurance proceeds, including any life insurance
proceeds, and any purchase price adjustment, net working capital or similar adjustment received in connection with any purchase agreement,
merger agreement, contribution agreement or similar agreement, in an aggregate amount exceeding $250,000.

 

“Fair Market Value”
means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction not involving distress of either
party, determined in good faith by the Borrower’s chief executive officer, chief financial officer or responsible accounting or
financial officer of the Borrower.

 

“Fair Share”
as defined in Section 7.2(b).

 

“Fair Share Contribution
Amount” as defined in Section 7.2(b).

 

“FATCA” means
Sections 1471 through 1474 of the Internal Revenue Code, effective as of the date hereof (or any amended or successor version that is
not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered
into pursuant to Section 1471(b)(1) of the Internal Revenue Code and any fiscal or regulatory legislation, rules or practices adopted
pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the
Internal Revenue Code.

 

“Federal Funds Effective
Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal Funds transactions
with members of the Federal Reserve System on such day, as published by the Federal Reserve Bank of New York on the Business Day next
succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Effective Rate for such day shall be
such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such
rate is so published on such next succeeding Business Day, the Federal Funds Effective Rate for such day shall be the rate per annum equal
to the average (rounded upwards, if necessary to the next 1/100th of 1%) of the quotations for the day for such transactions received
by the Administrative Agent from two federal funds brokers of recognized standing selected by it. Notwithstanding the foregoing, if the
Federal Funds Effective Rate, determined as above, would otherwise be less than zero, then the Federal Funds Effective Rate shall be deemed
to be zero for all purposes of this Agreement.

 

    14

     

    

 

“Final Order”
means an order of the Bankruptcy Court authorizing and approving on a final basis, among other things, the DIP Facility and the Transactions
contemplated by this Agreement in the form of the Interim Order (with only (i) such modifications thereto as are necessary, advisable
or customary to convert the Interim Order to a final order and to implement any changes to the structure of the DLP VII Option and the
DLP VII Transaction in accordance with Section 5.17 and (ii) such other modifications as are satisfactory to the Requisite Lenders in
their reasonable discretion) (as the same may be amended, supplemented, or modified from time to time after entry thereof with the consent
of the Requisite Lenders in their reasonable discretion) as to which no stay has been entered.

 

“Final Order Deadline”
means the thirty-fifth (35th) day following the entry of the Interim Order, as such deadline may be extended in accordance
with Section 5.17.

 

“Final Order Entry
Date” means the date on which the Final Order is entered by the Bankruptcy Court.

 

“Financed DLP IV/VI
Death Benefit Amount” means, with respect to any policy that is owned by DLP IV or DLP VI, the amount equal to (i) the net death
benefit payable under such policy minus (ii) any portion of the net death benefit of such policy that is payable to a Person other than
DLP IV or its securities intermediary (if such policy is owned by DLP IV) or DLP VI or its securities intermediary (if such policy is
owned by DLP VI) minus (iii) without duplication of any amount described in clause (ii), any portion of the net death benefit of such
policy that is payable to, or for the account of, the administrative agent or any lender under either SPV Credit Facility.

 

“Financial Officer
Certification” means, with respect to any consolidated financial statements of any Person, a certificate of the chief financial
officer of such Person stating that such financial statements present fairly the consolidated financial position of such Person and its
Subsidiaries as of the dates indicated and the consolidated results of their operations for the periods indicated in conformity with GAAP
applied on a consistent basis (except as otherwise disclosed in such financial statements), subject to changes resulting from normal year-end
audit adjustments and the absence of footnotes.

 

“Fiscal Year”
means the fiscal year of the Borrower and the Subsidiaries ending on December 31 of each calendar year.

 

“Floor” means
a rate of interest equal to one percent (1%).

 

“Foreign Lender”
means a Lender that is not a U.S. Person.

 

“Foreign Plan”
means any plan that would be an Employee Benefit Plan but for the fact that it is not subject to United States law and that is maintained
or contributed to by the Borrower, any Restricted Subsidiary or, to the extent that the Borrower or any Restricted Subsidiary shall have
liability with respect to such Employee Benefit Plan, any of their respective ERISA Affiliates, for or on behalf of its employees whose
principal place of employment is outside of the United States.

 

    15

     

    

 

“Foreign Plan Event”
means, with respect to any Foreign Plan, (a) the failure to make or, if applicable, accrue in accordance with reasonable accounting practices,
any employer or employee contributions required by applicable laws or by the terms of such Foreign Plan, (b) the existence of unfunded
liabilities in excess of the amount permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver
from the applicable Governmental Authority, (c) the receipt of a notice from a Governmental Authority relating to the intention to terminate
any such Foreign Plan, or alleging the insolvency of any such Foreign Plan, or alleging the insolvency of the Borrower or any Restricted
Subsidiary that sponsors, contributes to or participates in such Foreign Plan, (d) the initiation of any action or filing by the
Borrower or any Restricted Subsidiary to voluntarily terminate or wind up in whole or in part any Foreign Plan where any such Foreign
Plan is not fully funded and that would result in the incurrence of a liability by the Borrower or any Restricted Subsidiary, (e) the
incurrence of liability by the Borrower or any Restricted Subsidiary under applicable law on account of the complete or partial termination
of such Foreign Plan or the complete or partial withdrawal of any participating employer therein, (f) the failure to timely register or
loss of good standing with applicable Governmental Authorities of any such Foreign Plan required to be so registered or maintain such
standing if such failure to register or loss of such standing would result in the incurrence of a liability by the Borrower or any Restricted
Subsidiary or (g) the failure of any Foreign Plan to comply with any material provisions of applicable laws or with the material terms
of such Foreign Plan if such failure would result in the incurrence of a liability by the Borrower or any Restricted Subsidiary.

 

“Foreign Subsidiary”
means any Subsidiary that is not a Domestic Subsidiary.

 

“FOXO” means
FOXO Technologies, Inc., a Delaware corporation.

 

“FTI” means
FTI Consulting, Inc., a Maryland corporation.

 

“Funding Notice”
means a notice substantially in the form of Exhibit D.

 

“GAAP” means,
at any time, subject to Section 1.2, United States generally accepted accounting principles as in effect at such time, applied in
accordance with the consistency requirements thereof.

 

“Governmental Authority”
means any federal, state, municipal, national, supranational or other government, governmental department, commission, board, bureau,
court, agency or instrumentality or political subdivision thereof or any entity, officer or examiner exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to any government or any court, in each case whether associated with
the United States of America, any State thereof or the District of Columbia or a foreign entity or government (including any supra-national
body exercising such powers or functions, such as the European Union or the European Central Bank).

 

“Governmental Authorization”
means any permit, license, registration, approval, exemption, authorization, plan, directive, binding agreement, consent order or consent
decree made to, or issued, promulgated or entered into by or with, any Governmental Authority.

 

“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance
or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, Securities or services
for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital,
equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay
such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support
such Indebtedness or other obligation; provided that the term “Guarantee” shall not include (i) endorsements for collection
or deposit in the ordinary course of business or (ii) customary indemnity obligations entered into in connection with any Acquisition
or any Disposition permitted hereunder (other than any such obligations with respect to Indebtedness). The amount, as of any date of determination,
of any Guarantee shall be the principal amount outstanding on such date of Indebtedness or other obligation guaranteed thereby (or, in
the case of (A) any Guarantee the terms of which limit the monetary exposure of the guarantor or (B) any Guarantee of an obligation that
does not have a principal amount, the maximum monetary exposure as of such date of the guarantor under such Guarantee (as determined,
in the case of clause (A), pursuant to such terms or, in the case of clause (B), reasonably and in good faith by the chief financial officer
of the Borrower)).

 

    16

     

    

 

“Guarantor Subsidiary”
means each Domestic Subsidiary that is a party hereto as a “Guarantor” and a party to the Security Agreement as a “Grantor”
thereunder. As of the Closing Date, GWG Life USA, DLP V Holdings, DLP V and GWG MCA Capital shall be the only Guarantor Subsidiaries.

 

“Guarantors”
means each Guarantor Subsidiary; provided that the term “Guarantors” shall also include the Borrower solely for purposes
of the Guarantee of Obligations of the other Credit Parties pursuant to Section 7.

 

“GWG Life”
as defined in the preamble hereto.

 

“GWG Life USA”
as defined in the preamble hereto.

 

“GWG MCA Capital”
means GWG MCA Capital, Inc., a Delaware corporation.

 

“Hazardous Materials”
means any petroleum or petroleum products, radioactive materials or wastes, asbestos in any form, polychlorinated biphenyls, hazardous
or toxic substances and any other chemical, material, waste or substance that is prohibited, limited or regulated, or that could result
in liability, under any Environmental Law.

 

“Hedge Agreement”
means any agreement with respect to any swap, forward, future or derivative transaction, or any option or similar agreement, involving,
or settled by reference to, one or more rates, currencies, commodities, prices of equity or debt securities or instruments, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value, or any similar transaction or combination of
the foregoing transactions; provided that no phantom stock, stock option, stock appreciation right or similar plan or right providing
for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or
the Subsidiaries shall be a Hedge Agreement.

 

“Highest Lawful Rate”
means the maximum lawful interest rate, if any, that at any time or from time to time may be contracted for, charged, or received under
the laws applicable to any Lender that are presently in effect or, to the extent allowed by law, under such applicable laws that may hereafter
be in effect and that allow a higher maximum non-usurious interest rate than applicable laws now allow.

 

“incur” means
to create, incur, assume or, in the case of any Indebtedness, otherwise become liable with respect to such Indebtedness.

 

“Indebtedness”
means, with respect to any Person, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional
sale or other title retention agreements relating to property acquired by such Person (excluding trade accounts payable incurred in the
ordinary course of business), (d) all obligations of such Person in respect of deferred purchase price of property or services (excluding
trade accounts payable incurred in the ordinary course of business), (e) all Capital Lease Obligations of such Person, (f) the
maximum aggregate amount (determined after giving effect to any prior drawings or reductions that have been reimbursed) of all letters
of credit and letters of guaranty in respect of which such Person is an account party, (g) the principal component of all obligations,
contingent or otherwise, of such Person in respect of bankers’ acceptances, (h) all Indebtedness of others secured by any Lien
on any property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed by such Person, (i) all
Guarantees by such Person of Indebtedness of others and (j) all Disqualified Equity Interests in such Person. The Indebtedness of any
Person shall include the Indebtedness of any other Person (including any partnership in which such Person is a general partner) to the
extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such other Person,
except to the extent the terms of such Indebtedness provide that such Person is not liable therefor.

 

    17

     

    

 

“Indemnified Liabilities”
means any and all liabilities (including Environmental Liabilities), obligations, losses, damages (including natural resource damages),
penalties, claims, actions, judgments, suits, costs (including the costs of any investigation, study, sampling, testing, abatement, cleanup,
removal, remediation or other response action necessary to remove, remediate, clean up or abate any Hazardous Materials), expenses and
disbursements of any kind or nature whatsoever (including the reasonable and documented out-of-pocket fees, expenses and other charges
of counsel and consultants but limited to the fees, expenses and charges of a single counsel for all Indemnitees taken as a whole and,
solely in the case of an actual or perceived conflict of interest, one additional counsel for any Indemnitee to the extent necessary),
and any fees or expenses incurred by the Indemnitees in enforcing this indemnity, whether direct, indirect, special, consequential or
otherwise and whether based on any federal, state or foreign laws, statutes, rules or regulations (including securities and commercial
laws, statutes, rules or regulations and Environmental Laws), on common law or equitable causes of action or on contract or otherwise,
that may be imposed on, incurred by or asserted against any such Indemnitee, in any manner relating to, resulting from or arising out
of (a) this Agreement or the other Credit Documents or the transactions contemplated hereby or thereby (including the Lenders’ agreement
to make Credit Extensions, the syndication of the credit facilities provided for herein or the use or intended use of the proceeds thereof,
the execution, delivery and administration of this Agreement and the other Credit Documents, any amendments, waivers or consents with
respect to any provision of this Agreement or any of the other Credit Documents, or any enforcement of any of the Credit Documents (including
any sale of, collection from, or other realization upon any of the Collateral or the enforcement of the Obligations Guarantee)) or (b)
any actual or alleged presence or Release of Hazardous Materials on, at or under or from any property currently or formerly owned, leased
or operated by the Borrower or any Affiliate or any Environmental Liability related in any way to the Borrower or any Affiliate, including
but not limited, in each case, to such amounts that may arise in connection with investigating, preparing to defend or defending against,
or participating in, or providing evidence in or preparing to serve or serving as a witness with respect to, any of the foregoing or any
proceeding relating thereto, whether or not any such Indemnitee shall be designated as a party or a potential party to such proceeding,
and regardless of whether such proceeding is brought by the Credit Parties or any other Person, and whether or not any transactions contemplated
hereby or by any other Credit Document are consummated.

 

“Indemnified Taxes”
means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Credit
Party under any Credit Document and (b) to the extent not otherwise described in clause (a), Other Taxes.

 

“Indemnitee”
as defined in Section 10.3.

 

“Indenture”
means the Amended and Restated Indenture, dated as of October 23, 2017, among the Borrower and Bank of Utah, as trustee, with respect
to the issuance of debt securities.

 

“Indenture Documents”
means the Indenture and the “Collateral Documents” as defined in the Indenture.

 

“Initial Commitment”
means, with respect to each Lender, the commitment of such Lender to make an Initial Loan to the Borrower in an aggregate principal amount
not to exceed the amount set forth opposite such Lender’s name on the Commitment Schedule, as such amount may be adjusted from time
to time in accordance with this Agreement. The aggregate amount of the Lenders’ Initial Commitments on the Closing Date is $18,000,000.

 

    18

     

    

 

“Initial DIP Budget”
means the DIP Budget delivered prior to the Petition Date.

 

“Initial Loan” as defined
in Section 2.1(a).

 

“Initial Reporting Date”
as defined in Section 5.1(m).

 

“Insurance Event”
means any casualty or other insured damage to all or any part of any assets of the Borrower or any Restricted Subsidiary.

 

“Intellectual Property”
as defined in the Security Agreement.

 

“Intercompany Notes”
means, collectively, the (i) Unconditional Demand Note, dated as of September 7, 2021, by GWG Life in favor of DLP IV in the original
principal amount of $30,000,000 and (ii) Unconditional Demand Note, dated as of December 14, 2021, by GWG Life in favor of DLP IV in the
original principal amount of $20,000,000.

 

“Interest Payment Date”
means (a) with respect to any Base Rate Loan, the last Business Day of each calendar month, commencing on the first such date to occur
after the Closing Date and (b) with respect to any Term SOFR Loan, the last day of each Interest Period applicable to such Loan.

 

“Interest Period”
means, with respect to any Term SOFR Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding
day in the calendar month that is one month (or, such longer period thereafter as shall have been consented to by each Lender and notified
in writing by each Lender to the Administrative Agent); provided that (a) if an Interest Period would otherwise end on a day
that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless no succeeding Business Day
occurs in such month, in which case such Interest Period shall end on the immediately preceding Business Day, (b) any Interest Period
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 calendar
month at the end of such Interest Period) shall, subject to clause (c) below, end on the last Business Day of the last calendar month
of such Interest Period and (c) notwithstanding anything to the contrary in this Agreement, no Interest Period shall extend beyond the
Stated Maturity Date. For purposes hereof, the date of a Term SOFR Borrowing shall initially be the date on which such Borrowing is made
and thereafter shall be the effective date of the most recent continuation of such Borrowing.

 

“Interim Order”
means an order of the Bankruptcy Court, in the form set forth in Exhibit E authorizing on an interim basis, among other
things, the DIP Facility and the Transactions contemplated by this Agreement (other than the DLP VII Transaction), with only such modifications
as are satisfactory to the Administrative Agent in its sole discretion (as the same may be amended, supplemented, or modified from time
to time after entry thereof with the consent of the Administrative Agent in its sole discretion) as to which no stay has been entered.

 

    19

     

    

 

“Interim Order Entry
Date” means the date on which the Interim Order is entered by the Bankruptcy Court.

 

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

 

“Investment”
means, with respect to a specified Person, (i) any Equity Interests, evidences of Indebtedness or other Securities (including any option,
warrant or other right to acquire any of the foregoing) of, (ii) any capital contributions, loans or advances (other than trade advances
made by and among the Credit Parties in the ordinary course of business that would be recorded as accounts receivable on the balance sheet
of the specified Person prepared in conformity with GAAP) to, (iii) the making or any deposit with, (iv) any Guarantees of any Indebtedness
of (including any such Guarantees arising as a result of the specified Person being a co-maker of any note or other instrument or a joint
and several co-applicant with respect to any letter of credit or letter of guaranty), or (v) any other investments in (including any investment
in the form of transfer of property for consideration that is less than the fair value thereof), any other Person that are held or made
by the specified Person. The amount, as of any date of determination, of (a) any Investment in the form of a loan or an advance shall
be the aggregate principal amount thereof made on or prior to such date of determination, minus the amount, as of such date of determination,
of any Returns with respect thereto, but without any adjustment for write-downs or write-offs (including as a result of forgiveness of
any portion thereof) with respect to such loan or advance after the date thereof, (b) any Investment in the form of a Guarantee shall
be determined in accordance with the definition of the term “Guarantee”, (c) any Investment in the form of a purchase or other
acquisition for value of any Equity Interests, evidences of Indebtedness or other Securities of any Person shall be the fair value of
the consideration therefor (including any Indebtedness assumed in connection therewith), plus the fair value (as so determined)
of all additions, as of such date of determination, thereto, and minus the amount, as of such date of determination, of any Returns
with respect thereto, but without any other adjustment for increases or decreases in value of, or write-ups, write-downs or write-offs
with respect to, such Investment after the time of such Investment, (d) any Investment (other than any Investment referred to in clause
(a), (b) or (c) above) in the form of a transfer of Equity Interests or other property by the investor to the investee, including any
such transfer in the form of a capital contribution, shall be the fair value of such Equity Interests or other property as of the time
of such transfer (less, in the case of any investment in the form of transfer of property for consideration that is less than the fair
value thereof, the fair value (as so determined) of such consideration as of the time of the transfer), minus the amount, as of
such date of determination, of any Returns with respect thereto, but without any other adjustment for increases or decreases in value
of, or write-ups, write-downs or write-offs with respect to, such Investment after the time of such transfer, and (e) any Investment (other
than any Investment referred to in clause (a), (b), (c) or (d) above) in any Person resulting from the issuance by such Person of its
Equity Interests to the investor shall be the fair value of such Equity Interests at the time of the issuance thereof.

 

“IRS” means
the U.S. Internal Revenue Service.

 

“Junior Indebtedness”
means any Indebtedness that is subordinated in right of payment to the Obligations or secured on a junior basis with respect to the Collateral
securing the Obligations.

 

“Key Person”
as defined in the definition of Key Person Event.

 

    20

     

    

 

“Key Person
Event” means any event or circumstance that results in any of Brian Bailey, Tim Evans or Murray Holland (each, a
“Key Person”) no longer being actively involved in the day-to-day business of the Credit Parties and their
Subsidiaries with at least the same level of responsibility as such individual possesses during the previous calendar quarter or no
longer devoting substantially all of such individual’s business time and attention to the business of the Credit Parties and
their Subsidiaries; provided that such event shall not be a Key Person Event unless the Credit Parties shall have failed to
appoint a replacement of any such Key Person who is reasonably acceptable to the Administrative Agent within thirty (30) days of
such event or circumstance, with the Administrative Agent’s approval not to be unreasonably withheld, delayed or conditioned; provided, further,
that in the event that (x) the Credit Parties fail to propose any such Person or (y) any such Person proposed by the Credit Parties
is not approved by the Administrative Agent within such thirty (30) day period, the Administrative Agent shall have an additional
fifteen (15) day period to offer at least five (5) potential chief restructuring officer candidates who shall be employees of FTI,
AlixPartners, LLP, Alvarez & Marsal Holdings, LLC and/or Ankura Consulting Group, LLC, in which case it shall not be a Key
Person Event if the Credit Parties accept the appointment of such Person as chief restructuring officer promptly thereafter.

 

“Lender”
means each Person listed on the signature pages hereto as a Lender, and any other Person that shall have become a party hereto in accordance
with the terms hereof pursuant to an Assignment Agreement, other than any such Person that shall have ceased to be a party hereto pursuant
to an Assignment Agreement.

 

“Lien” means
any lien, mortgage, pledge, assignment, security interest, hypothecation, charge or encumbrance of any kind (including any conditional
sale or other title retention agreement, and any lease or license in the nature thereof) and any option, trust or other preferential arrangement
having the practical effect of any of the foregoing.

 

“Loan” means
a Term Loan.

 

“Margin Stock”
as defined in Regulation U.

 

“Material Adverse Effect”
means a material adverse effect on (a) the business, results of operations, assets, financial condition or prospects of the Borrower,
(b) the ability of the Credit Parties to fully and timely perform their obligations under the Credit Documents, (c) the legality,
validity, binding effect or enforceability against the Credit Parties of any Credit Documents to which they are party or (d) the
rights, remedies and benefits available to, or conferred upon, any Agent, any Lender or any Secured Party under the Credit Documents (other
than, in each case, (i) as a result of the events leading up to the commencement of the Cases and those events or circumstances customarily
resulting from the commencement of the Cases, in each case, taking into account the effect of the automatic stay under the Bankruptcy
Code, and (ii) as a result of the existing proceeding or investigation described on Schedule 4.9 as of the Petition Date,
but excluding any subsequent adverse developments, proceedings or actions  related thereto based upon facts and circumstances which
were not otherwise disclosed to the Administrative Agent by the Borrower on or before the Petition Date).

 

“Material Indebtedness”
means Indebtedness (other than the Loans and Guarantees under the Credit Documents), or obligations in respect of one or more Hedge Agreements,
of any one or more of the Borrower and the Restricted Subsidiaries in an aggregate principal amount of $1,000,000 or more and shall include,
without limitation, Indebtedness under the Indenture Documents. In the case of any Material Indebtedness that is a Guarantee of any other
Indebtedness, each reference to “Material Indebtedness” shall be deemed to include a reference to such Guaranteed Indebtedness.
For purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Borrower or any Restricted
Subsidiary in respect of any Hedge Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements)
that the Borrower or such Restricted Subsidiary would be required to pay if such Hedge Agreement were terminated at such time.

 

    21

     

    

 

“Moody’s”
means Moody’s Investors Service, Inc., or any successor to its rating agency business.

 

“Multiemployer Plan”
means any Employee Benefit Plan that is a “multiemployer plan” as defined in Section 3(37) of ERISA.

 

“Net Proceeds”
means, with respect to any event, (a) the Cash (which term, for purposes of this definition, shall include Cash Equivalents) proceeds
received in respect of such event, including any Cash received in respect of any noncash proceeds, but only as and when received, net
of (b) the sum, without duplication, of (i) all reasonable fees and out-of-pocket expenses (including any underwriting discounts
and commissions) paid in connection with such event by the Borrower or any Restricted Subsidiary to Persons that are not Subject Entities
or Affiliates of the Borrower or any Restricted Subsidiary, and (ii) in the case of any Asset Sale or Insurance Event, (A) the amount
of all payments (including in respect of principal, accrued interest and premiums) required to be made by the Borrower and the Restricted
Subsidiaries as a result of such event to repay Indebtedness of the Borrower or the Restricted Subsidiaries of the types referred to in
clauses (a) through (e) of the definition of “Indebtedness” secured by the assets subject thereto, and (B) the amount
of all Taxes paid (or reasonably estimated to be payable) by the Borrower or any Restricted Subsidiary, and the amount of any reserves
established by the Borrower or any Restricted Subsidiary in conformity with GAAP to fund purchase price adjustment, indemnification and
similar contingent liabilities reasonably estimated to be payable that are, in each case, directly attributable to the occurrence of such
event.

 

“New-Money Loans”
means the Initial Loans, the Supplemental Initial Loans and the Delayed Draw Loans.

 

“NFLP” as
defined in the preamble hereto.

 

“Note” means
a promissory note issued to any Lender pursuant to Section 2.6(c).

 

“Obligations”
means all obligations of every nature of each Credit Party under this Agreement and the other Credit Documents, whether for principal,
interest (including default interest accruing pursuant to Section 2.9 and interest (including such default interest) that would continue
to accrue pursuant to the Credit Documents on any such obligation after the commencement of any proceeding under the Debtor Relief Laws
with respect to any Credit Party, whether or not such interest is allowed or allowable against such Credit Party in any such proceeding),
fees (including prepayment fees), expenses, indemnification or otherwise.

 

“Obligations Guarantee”
means the Guarantee of the Obligations created under Section 7.

 

“OFAC” means
the United States Treasury Department Office of Foreign Assets Control.

 

“Orders”
means the Interim Order and the Final Order, as applicable, in each case upon entry thereof by the Bankruptcy Court.

 

“Organizational
Documents” means (a) with respect to any corporation or company, its certificate or articles of incorporation,
organization or association, as amended, and its bylaws, as amended, (b) with respect to any limited partnership, its certificate or
declaration of limited partnership, as amended, and its partnership agreement, as amended, (c) with respect to any general
partnership, its partnership agreement, as amended, and (d) with respect to any limited liability company, its certificate of
formation or articles of organization, as amended, and its operating agreement, as amended. In the event any term or condition of
this Agreement or any other Credit Document requires any Organizational Document to be certified by a secretary of state or similar
governmental official, the reference to any such “Organizational Document” shall only be to a document of a type
customarily certified by such governmental official.

 

    22

     

    

 

“Other Connection Taxes”
means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction
imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations
under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced
any Credit Document, or sold or assigned an interest in any Loan or Credit Document).

 

“Other Taxes”
means any and all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment
made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest
under, or otherwise with respect to, this Agreement or any other Credit Document, except any such Taxes that are Other Connection Taxes
imposed with respect to an assignment (other than an assignment made pursuant to Section 2.22).

 

“Participant Register”
as defined in Section 10.6(g).

 

“PATRIOT Act”
means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (Title III
of Pub. L. 107-56).

 

“PBGC” means
the Pension Benefit Guaranty Corporation.

 

“Pension Plan”
means any Employee Benefit Plan, other than a Multiemployer Plan, that is subject to Section 412 of the Internal Revenue Code or Section
302 of ERISA.

 

“Permitted Lien”
means any Lien permitted by Section 6.2.

 

“Person”
means any natural person, corporation, limited partnership, general partnership, limited liability company, limited liability partnership,
joint stock company, joint venture, association, company, trust, bank, trust company, land trust, business trust or other organization,
whether or not a legal entity, and any Governmental Authority.

 

“Petition Date”
as defined in the preamble hereto.

 

“PJT” means
PJT Partners LP, a Delaware limited partnership.

 

“Prime Rate”
means the rate of interest per annum last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if
The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in
Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is
no longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal
Reserve Board (as determined by the Administrative Agent). Any change in the Prime Rate shall take effect at the opening of business on
the day such change is publicly announced or quoted as being effective.

 

“Private-Side Information”
means any information with respect to the Borrower and the Subsidiaries that is not Public-Side Information.

 

    23

     

    

 

“Pro Rata Share”
means, with respect to any Lender, at any time, the percentage obtained by dividing (i) the Term Loan Exposure of such Lender at such
time by (ii) the aggregate Term Loan Exposure of all the Lenders at such time.

 

“Proposed
Budget” as defined in Section 5.1(m).

 

“Public Lenders”
means Lenders that do not wish to receive Private-Side Information.

 

“Public-Side Information”
means information that is either (a) available to all holders of Traded Securities of the Borrower or any Subsidiary or (b) not material
non-public information (for purposes of United States federal, state or other applicable securities laws).

 

“Recipient”
means any Agent and any Lender.

 

“Register”
as defined in Section 2.6(b).

 

“Regulation D”
means Regulation D of the Board of Governors.

 

“Regulation T”
means Regulation T of the Board of Governors.

 

“Regulation U”
means Regulation U of the Board of Governors.

 

“Regulation X”
means Regulation X of the Board of Governors.

 

“Related Fund”
means, with respect to any Lender that is an investment fund, any other investment fund that invests in commercial loans and that is managed
or advised by the same investment advisor as such Lender or by an Affiliate of such investment advisor.

 

“Related Parties”
means, with respect to any Person, such Person’s Affiliates and the directors, officers, partners, members, trustees, employees,
controlling persons, agents, administrators, managers, representatives and advisors of such Person and of such Person’s Affiliates.

 

“Release”
means any release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration
into or through the environment or from, under, within or upon any building, structure, facility or fixture.

 

“Released DIP Parties”
as defined in Section 2.23.

 

“Releasing Parties”
as defined in Section 2.23.

 

“Requisite Lenders”
means, at any time, two or more Lenders (counting for purposes of this definition Lenders that are Affiliates or are under common management
as one single Lender) having or holding Term Loan Exposure representing more than 50% of the sum of the Term Loan Exposure of all the
Lenders at such time. For purposes of this definition, the amount of Term Loan Exposure shall be determined by excluding the Term Loan
Exposure of any Defaulting Lender.

 

“Restricted Junior
Payment” means (a) any dividend or other distribution, direct or indirect (whether in Cash, Securities or other property),
with respect to any Equity Interests in the Borrower or any Restricted Subsidiary, (b) any payment or distribution, direct or indirect
(whether in Cash, Securities or other property), including any sinking fund or similar deposit, on account of any direct or indirect redemption,
retirement, purchase, acquisition, exchange, conversion, cancelation or termination of, or any other return of capital with respect to,
any Equity Interests in the Borrower or any Restricted Subsidiary, (c) any payment or other distribution, direct
or indirect (whether in Cash, Securities or other property) of or in respect of principal of or interest or premium on any other Indebtedness,
or any payment or other distribution (whether in Cash, Securities or other property), including any sinking fund or similar deposit, on
account of the redemption, retirement, purchase, acquisition, defeasance (including in-substance or legal defeasance), exchange, conversion,
cancelation or termination of any other Indebtedness or (d) any payment or other distribution, direct or indirect (whether in Cash, Securities
or other property), to any Subject Entity.

 

    24

     

    

 

“Restricted Subsidiary”
means any Subsidiary of Holdings (other than GWG Life), including, without limitation, GWG Life USA, GWG MCA Capital, Inc., DLP IV, GWG
DLP Funding V Holdings, LLC, GWG DLP Funding V, LLC, DLP Holdings VI and DLP VI; provided, that no Subject Entity shall constitute
a Restricted Subsidiary for purposes of this Agreement.

 

“Returns”
means (a) with respect to any Investment in the form of a loan or advance, the repayment to the investor in Cash or Cash Equivalents of
principal thereof and (b) with respect to any other Investment, any return of capital received by the investor in Cash or Cash Equivalents
in respect of such Investment.

 

“S&P”
means S&P Global Ratings, or any successor to its rating agency business.

 

“Sale Leaseback Transaction”
means an arrangement relating to property owned by the Borrower or any Restricted Subsidiary whereby the Borrower or such Restricted Subsidiary
Disposes of such property to any Person and the Borrower or any Restricted Subsidiary leases such property, or other property that it
intends to use for substantially the same purpose or purposes as the property Disposed of, from such Person or its Affiliates.

 

“Sanctioned Country”
means, at any time, a country, region or territory that is itself the subject or target of any Sanctions (at the date of this Agreement,
the so-called Donetsk People’s Republic, the so-called Luhansk People’s Republic, Cuba, Crimea region of Ukraine, Iran, North
Korea, Syria and Venezuela).

 

“Sanctioned Person”
means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the US Department of State,
the US Department of Treasury (including OFAC), the United Nations Security Council, the European Union, any European Union member state,
Her Majesty’s Treasury of the United Kingdom or the Department of Foreign Affairs, Trade and Development (Canada), (b) any Person
operating, organized or resident in a Sanctioned Country or (c) any Person controlled or 50% or more owned by any such Person or Persons
described in clause (a) or (b) above.

 

“Sanctions”
as defined in Section 4.21.

 

“Sanctions Laws”
as defined in Section 4.21.

 

“SEC” means
the United States Securities and Exchange Commission.

 

“Secured Parties”
means the collective reference to the Administrative Agent, the Collateral Agent and the Lenders.

 

“Securities”
means any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any
profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes or other evidences of indebtedness, secured
or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as “securities” or
any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or
any right to subscribe to, purchase or acquire, any of the foregoing.

 

    25

     

    

 

“Securities Act”
means the Securities Act of 1933.

 

“Security Agreement”
means the Debtor-In-Possession Security Agreement, dated as of the date hereof, among the Borrower, the other Credit Parties and the Collateral
Agent.

 

“Shared Services Agreement”
means the Shared Services Agreement, dated as of May 27, 2020 and effective as of January 1, 2020, between BEN and Holdings.

 

“SOFR” means
a rate per annum equal to the secured overnight financing rate as administered by the Federal Reserve Bank of New York (or a successor
administrator of the secured overnight financing rate) on its website.

 

“SPV Credit Facilities”
means (i) the DLP IV Credit Agreement and (ii) the DLP VI Credit Agreement.

 

“Stated Maturity Date”
means October 20, 2022.

 

“Stay Relief
Hearing” as defined in Section 8.2.

 

“Stay Remedy
Order” as defined in Section 8.2.

 

“Subject Entities”
means FOXO, BEN and their respective Subsidiaries.

 

“Subsidiary”
means, with respect to any Person (the “parent”) at any date, (a) any Person the accounts of which would be consolidated
with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in conformity
with GAAP as of such date and (b) any other Person  of which Equity Interests representing more than 50% of the equity value
or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are,
as of such date, owned, controlled or held, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries
of the parent. Unless otherwise specified, all references herein to Subsidiaries shall be deemed to refer to the Subsidiaries of the Borrower.
For purposes of certainty, no Subject Entity shall constitute a Subsidiary of Holdings for purposes of this Agreement.

 

“Superpriority Claim”
as defined in Section 4.23(b).

 

“Supplemental Collateral
Questionnaire” means a certificate providing additional information as may be required to create, perfect or enforce any Liens
on any Collateral in a form approved by the Requisite Lenders, acting reasonably.

 

“Supplemental Initial
Commitment” means, with respect to each Lender, the commitment of such Lender to make a Supplemental Initial Loan to the Borrower
in an aggregate principal amount not to exceed the product of (x) the Aggregate Supplemental Initial Commitment and (y) such Lender’s
Pro Rata Share immediately prior to the determination of the Aggregate Supplemental Initial Commitment in accordance with the definition
thereof, as such aggregate principal amount may be adjusted from time to time in accordance with this Agreement.

 

“Supplemental Initial
Loan” as defined in Section 2.1(a).

 

    26

     

    

 

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

 

“Term Borrowing”
means a Borrowing comprised of Term Loans.

 

“Term Loan”
means any of (i) an Initial Loan made by a Lender to the Borrower, (ii) a Supplemental Initial Loan made by a Lender to the Borrower and
(iii) a Delayed Draw Loan made by a Lender to the Borrower.

 

“Term Loan Exposure”
means, with respect to any Lender at any time, the sum of (a) the unused Initial Commitment, the unused Supplemental Initial Commitment
and the unused Delayed Draw Commitment of such Lender at such time and (b) the aggregate principal amount of the Term Loans of such Lender
outstanding at such time; provided, that the Term Loan Exposure shall not at any time exceed $65,000,000 in the aggregate, plus
any Discretionary DIP Overadvances.

 

“Term Loan Lender Advisors”
means (w) Sidley Austin LLP, (x) ArentFox Schiff LLP, (y) Institutional Life Services, LLC and its Affiliates and (z) any other financial
advisor, auditor, attorney, accountant, appraiser, auditor, business valuation expert, environmental engineer or consultant, turnaround
consultant, and other consultants, professionals and experts reasonably retained by the Lenders.

 

“Term SOFR”
means the forward-looking term rate based on SOFR as published by the Term SOFR Administrator for a one-month period on the Term SOFR
Determination Day as such rate is published by the TERM SOFR Administrator; provided that, if the Administrative Agent determines
that any such lookback or other conventions for this rate selected is not administratively, operationally, or technically feasible for
the Administrative Agent, then the Administrative Agent may establish another convention in its sole discretion.

 

“Term SOFR Administrator”
means CME Group Benchmark Administration Limited (CBA) as administrator of the forward-looking Term SOFR (or a successor administrator
selected by the Administrative Agent in its sole discretion).

 

“Term SOFR Determination
Day” means the day that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period,
as such rate is published by the Term SOFR Administrator.

 

“Term SOFR Loan”
means a Loan bearing interest at a rate determined by reference to Adjusted Term SOFR.

 

“Termination Date”
means the earliest of (a) the Stated Maturity Date, (b) the termination of unused Commitments with respect to the DIP Facility and/or
the date of acceleration of the Loans in accordance with the terms of this Agreement upon and during the continuance of an Event of Default,
(c) the date of payment in full in cash of all Obligations (other than any contingent Obligations that survive the expiration or termination
of this Agreement) and termination of all of the Commitments pursuant to the terms herein or (d) the effective date of the Debtors’
Approved Plan.

 

“Traded Securities”
means any debt or equity Securities issued pursuant to a public offering registered under the Securities Act or Rule 144A offering or
other similar private placement.

 

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“Transactions”
means the execution and delivery of this Agreement and the other Credit Documents and the transactions contemplated hereby and thereby
and the payment of fees and expenses in connection with the foregoing.

 

“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 Adjusted Term SOFR or the Base Rate.

 

“UCC” means
the Uniform Commercial Code (or any similar or equivalent legislation) as in effect from time to time in any applicable jurisdiction.

 

“U.S. Government Securities
Business Day” means any day except for (i) a Saturday, (ii) a Sunday and (iii) a day on which the Securities Industry and Financial
Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in
United States government securities.

 

“U.S. Person”
means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Internal Revenue Code and
any disregarded entity (for U.S. federal income tax purposes) owned by such Person.

 

“U.S. Tax Compliance
Certificate” as defined in Section 2.19(f)(ii)(B)(3).

 

“Variance
Limit” as defined in Section 6.7.

 

“Wells
Fargo” as defined in Section 3.1(n).

 

“wholly owned”,
when used in reference to a Subsidiary of any Person, means that all the Equity Interests in such Subsidiary (other than directors’
qualifying shares and other nominal amounts of Equity Interests that are required to be held by other Persons under applicable law) are
owned, beneficially and of record, by such Person, another wholly owned Subsidiary of such Person or any combination thereof.

 

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

 

1.2. Accounting Terms. Except
as otherwise expressly provided herein, all terms of an accounting or financial nature used herein shall be construed in conformity with
GAAP as in effect from time to time; provided that (i) if the Borrower, by notice to the Administrative Agent, shall request an
amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application
thereof on the operation of such provision (or if the Administrative Agent or the Requisite Lenders, by notice to the Borrower, shall
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
and (ii) notwithstanding any other provision contained herein, 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, (A) without giving effect to any election
under Financial Accounting Standards Board Accounting Standards Codification 825 (or any other Accounting Standards Codification or Financial
Accounting Standard having a similar result or effect) (and related interpretations) to value any Indebtedness or other liabilities of
the Borrower or any Subsidiary at “fair value”, as defined therein, (B) 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, and (C) without
giving effect to any change to GAAP occurring after the date hereof as a result of the adoption of any proposals set forth in the Proposed
Accounting Standards Update, Leases (Topic 842), issued by the Financial Accounting Standards Board on May 16, 2013, or any other
proposals issued by the Financial Accounting Standards Board in connection therewith, in each case if such change would require treating
any lease (or similar arrangement conveying the right to use) as a capital lease where such lease (or similar arrangement) was not required
to be so treated under GAAP as in effect on December 31, 2017.

 

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1.3. Interpretation, Etc.
Any of the terms defined herein may, unless the context otherwise requires, be used in the singular or the plural, depending on the reference.
References herein to any Article, Section, Schedule or Exhibit shall be to an Article or a Section of, or a Schedule or an
Exhibit to, this Agreement, unless otherwise specifically provided. 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 words “asset” and “property” shall be construed
to have the same meaning and effect and to refer to any and all real and personal, tangible and intangible assets and properties, including
Cash, Securities, accounts and contract rights. 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, writs and decrees, of all Governmental Authorities. The words “not otherwise applied”,
and words of similar import, when used with reference to any amount of Net Proceeds of any issuance or sale of Equity Interests that
is proposed to be applied to any particular use, payment or transaction, shall be construed to mean that such amount was not previously
applied, or is not simultaneously being applied, to any other use, payment or transaction other than such particular use, payment or
transaction. Except as otherwise expressly provided herein and unless the context requires otherwise, (a) any definition of or reference
to any agreement, instrument or other document (including this Agreement and the other Credit Documents) shall be construed as referring
to such agreement, instrument or other document, as the case may be, as amended, restated, amended and restated, supplemented. waived
or otherwise modified from time to time in accordance with its terms (including on or prior to the date hereof), subject to any restriction
on any such amendment, restatement, amendment and restatement, supplement. waiver or otherwise modified or other modification 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), and all references to any statute
shall be construed as referring to all rules, regulations, rulings and official interpretations promulgated or issued thereunder, (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 or any self-regulating entity, any other Governmental
Authority or entity that shall have succeeded to any or all functions thereof, and (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. Terms defined in the UCC as in effect in the State of New York on the Closing Date and not otherwise defined
herein shall, unless the context otherwise indicates, have the meanings provided by those definitions. Unless the context otherwise requires,
any reference herein to DLP IV or DLP VI owning a life insurance policy shall include any life insurance policy that is held in a securities
account for the benefit of DLP IV or DLP VI, as applicable.

 

1.4. Classification of Loans
and Borrowings . For purposes of this Agreement, Loans and Borrowings may be classified and referred to by Type (e.g., a “Term
SOFR Loan” or “Base Rate Loan”, a “Term SOFR Borrowing” or “Base Rate Borrowing”).

 

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SECTION 2.
LOANS

 

2.1. Loans. (a) Commitments.
Subject to the terms and conditions hereof and in the Orders, each Lender agrees to (i) following the Interim Order Entry Date and upon
the satisfaction of the conditions to Borrowing set forth in Sections 3.1 and 3.4, make a term loan to the Borrower in a single Borrowing
on the Closing Date in a principal amount in Dollars not to exceed such Lender’s Initial Commitment (the “Initial Loan”),
(ii) upon the satisfaction of the conditions to Borrowing set forth in Sections 3.2 and 3.4, make a term loan to the Borrower in a single
Borrowing, on the sixth (6th) Business Day following the Final Order Deadline, unless the Final Order Entry Date has occurred
prior to such sixth (6th) Business Day, in a principal amount in Dollars not to exceed such Lender’s Supplemental Initial
Commitment (the “Supplemental Initial Loan”) and (iii) following the Final Order Entry Date and upon the satisfaction
of the conditions to Borrowing set forth in Sections 3.3 and 3.4, to make additional delayed draw term loans to the Borrower from time
to time during the period commencing on the Final Order Entry Date and ending on the Delayed Draw Commitment Termination Date (but in
any event, not more frequently than once per week) (the “Delayed Draw Loans”) in an aggregate principal amount for
all such Borrowings under this clause (iii) not to exceed such Lender’s Delayed Draw Commitment. Following the making of the Initial
Loan by a Lender, the Initial Commitment of such Lender shall terminate, and following the making of the Supplemental Initial Loan by
a Lender, the Supplemental Initial Commitment of such Lender shall terminate. Following the making of any Delayed Draw Loans by a Lender,
the Delayed Draw Commitment of such Lender shall be reduced by the amount of such Delayed Draw Loans so made. To the extent not terminated
earlier, each Lender’s Supplemental Initial Commitment and Delayed Draw Commitment shall terminate immediately and without further
action on the Termination Date. Once funded, each Initial Loan, Supplemental Initial Loan and Delayed Draw Loan shall be a “Loan”,
a “New-Money Loan” and a “Term Loan” for all purposes under this Agreement and the other Credit Documents.

 

Amounts borrowed, deemed borrowed
or exchanged under ‎Section 2.1(a) and repaid or prepaid may not be reborrowed.

 

(b) 
Borrowing Mechanics for Loans.

 

(i)   
Each Term Loan shall be made as part of a Borrowing consisting of Term Loans of the same Type made by the Lenders proportionately
to their applicable Pro Rata Shares. At the commencement of each Interest Period for any Term SOFR Term Borrowing, such Borrowing shall
be in an aggregate amount of $1,000,000 or an integral multiple of $500,000 in excess of such amount (or such different amount that constitutes
the full amount of the Term Loans outstanding); provided that a Term SOFR Term Borrowing that results from an automatic continuation
of an outstanding Term SOFR Term Borrowing may be in an aggregate amount that is equal to the amount of such outstanding Borrowing.

 

(ii) 
To request a Term Borrowing, the Borrower Representative shall deliver to the Administrative Agent and the Lenders’ financial
advisor a fully completed and executed Funding Notice (A) in the case of a Term SOFR Term Borrowing, not later than 11:00 a.m. (New York
City time) at least three Business Days in advance of the proposed Credit Date (which shall be a Business Day) and (B) in the case of
a Base Rate Borrowing on and after the date that the Administrative Agent determines in its sole discretion that (i) a Benchmark Transition
Event has occurred or Term SOFR is otherwise unavailable and (ii) Base Rate Borrowings are permitted hereunder, not later than 11:00 a.m.
(New York City time) at least one Business Day in advance of the proposed Credit Date (which shall be a Business Day). Promptly upon receipt
by the Administrative Agent of a Funding Notice in accordance with this paragraph, the Administrative Agent shall notify each Lender of
the details thereof and of the amount of such Lender’s Term Loan to be made as part of the requested Term Borrowing. Following delivery
of a Funding Notice for a Term SOFR Term Borrowing, any failure to make such Borrowing shall be subject to Section 2.17(c).

 

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(iii) 
 Each Lender shall make the principal amount of each Term Loan required to be made by it hereunder on any Credit Date available
to the Administrative Agent not later than 12:00 p.m. (New York City time) on such Credit Date by wire transfer of same day funds
in Dollars to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. Upon satisfaction
or waiver of the applicable conditions precedent specified herein and receipt by the Administrative Agent of all of the proceeds of the
Loans, the Administrative Agent will make each such Term Loan available to the Borrower by promptly remitting the amounts so received,
in like funds, to the DIP Facility Proceeds Account, except in the case of a Delayed Draw Loan, amounts so received shall be remitted,
in like funds, to the Delayed Draw Premium Reserve Account until the aggregate amount remitted to the Delayed Draw Premium Reserve Account
pursuant to this Section 2.1(b)(iii) in respect of any one or more Delayed Draw Loans equals the Delayed Draw Premium Reserve Amount (and,
thereafter, to the DIP Facility Proceeds Account).

 

(iv) 
Upon the written request of the Borrower to release funds in the Delayed Draw Premium Reserve Account for use in accordance with
Section 5.14(c), so long as an Event of Default shall not have occurred and be continuing (unless the Administrative Agent agrees in its
reasonable discretion), the Administrative Agent shall promptly instruct the applicable depositary bank to release or transfer such funds
to the applicable account of DLP IV as so requested by the Borrower.

 

2.2. Discretionary DIP Overadvances
. Notwithstanding anything to the contrary contained in this Agreement, Administrative Agent shall be exclusively authorized, in
its reasonable discretion, to make any Delayed Draw Loan in excess of the Delayed Draw Commitment (each, a “Discretionary DIP
Overadvance”) in an aggregate amount not to exceed $10,000,000 outstanding at any time, if the Administrative Agent deems such
additional Delayed Draw Loans to be necessary or desirable to preserve or protect any Collateral (or any portion thereof) or to enhance
the likelihood of repayment of the Obligations; provided, that any Discretionary DIP Overadvance shall not reduce the Commitment,
the Initial Commitment, the Supplemental Initial Commitment or the Delayed Draw Commitment. If a Discretionary DIP Overadvance is made,
or permitted to remain outstanding, pursuant to the preceding sentence, then all Lenders shall be bound to make, or permit to remain
outstanding, such Discretionary DIP Overadvance based upon their Pro Rata Share in accordance with the terms of this Agreement, regardless
of whether the conditions to lending set forth in Section 3.2, 3.3 or 3.4 have been met. The obligation of each Lender to participate
in each Discretionary DIP Overadvance shall be absolute and unconditional and shall not be affected by any circumstance, including (i)
any setoff, counterclaim, recoupment, defense or other right which such Person may have against any other Credit Party, the Borrower
or any other Person for any reason whatsoever, (ii) the occurrence or continuance of a Default or an Event of Default, or (iii) any other
occurrence, event or condition. The making of any such Discretionary DIP Overadvance on any one occasion shall not obligate the Administrative
Agent or any Lender to make or permit any Discretionary DIP Overadvance on any other occasion. No funding of a Discretionary DIP Overadvance
shall constitute a waiver by the Administrative Agent or the Lenders of any Default or Event of Default. In no event shall Borrower or
any other Credit Party be deemed a beneficiary of this Section 2.2 nor authorized to enforce any of its terms. All Discretionary DIP
Overadvances (including any interest thereon) shall be payable by the Borrower on demand by the Administrative Agent or the Requisite
Lenders. All Discretionary DIP Overadvances shall constitute a Delayed Draw Loan subject to Interest and Default Interest pursuant to
this Agreement and for all purposes be Obligations secured by the Collateral and entitled to all benefits of this Agreement and the other
Credit Documents. Amounts borrowed, deemed borrowed or exchanged under Section 2.2 and repaid or prepaid may not be reborrowed.

 

2.3.
[Reserved].

 

2.4. Pro Rata Shares; Obligations
Several; Availability of Funds. (a) All Loans on the occasion of any Borrowing shall be made by the Lenders in proportion to their
applicable Pro Rata Shares. The failure of any Lender to make any Loan shall not relieve any other Lender of its obligations hereunder;
provided that the Commitments and other obligations of the Lenders hereunder are several, and no Lender shall be responsible for
the failure of any other Lender to make any Loan or to satisfy any of its other obligations hereunder.

 

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(b) 
Unless the Administrative Agent shall have been notified by a Lender prior to the applicable Credit Date that such Lender does
not intend to make available to the Administrative Agent the amount of such Lender’s Loan requested to be made on such Credit Date,
the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such Credit Date and
may, in its sole discretion, but shall not be obligated to, make available to the Borrower a corresponding amount. In such event, if a
Lender has not in fact made the amount of its Loan available to the Administrative Agent, then such Lender and the Borrower severally
agree to pay to the Administrative Agent forthwith on demand, such corresponding amount, with interest thereon for each day from and including
the date such amount is made available to the Borrower to but excluding the date of such payment to the Administrative Agent, at (i) in
the case of a payment to be made by such Lender, (A) at any time prior to the third Business Day following the date such amount is made
available to the Borrower, the Federal Funds Effective Rate and (B) thereafter, the Base Rate or (ii) in the case of a payment to be made
by the Borrower, the interest rate applicable hereunder to Base Rate Loans. If the Borrower and such Lender shall both pay such interest
to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount
of such interest paid by the Borrower for such period. If such Lender pays such amount to the Administrative Agent, then such amount shall
constitute such Lender’s Loan included in the applicable Borrowing.

 

2.5. Use of Proceeds. The
Borrower will use the proceeds of any Borrowing (as well as any Cash Collateral) solely in accordance with the Approved Budget (subject
to the Variance Limit) and the Orders, for (a) working capital and general corporate purposes of the Borrower, (b) current interest,
fees and expenses under this Agreement and the other Credit Documents, (c) costs, fees and expenses approved under the Orders, (d) capital
contributions to certain non-debtor subsidiaries to the extent permitted under Section 6.6(c) and (e) administrative costs and expenses
related to the administration of the Cases, in each case, not in contravention of any applicable law and not in violation of this Agreement
or the other Credit Documents. Except to the extent set forth in the Orders, no proceeds of the DIP Facility, any Collateral or any Cash
Collateral may be used for any fees or expenses incurred in connection with the investigation, initiation or prosecution of any claims,
causes of action, adversary proceedings or other litigation against (i) the Administrative Agent or the Lenders or (ii) in connection
with challenging, invalidating, disallowing, recharacterizing, setting aside, avoiding, subordinating, in whole or in part, or taking
or attempting to take any other action to render unenforceable, the liens, claims, interests and adequate protection of the Administrative
Agent and the Lenders, including for the avoidance of doubt, objecting to or contesting the validity, extent, amount, perfection, priority,
or enforceability of the obligations under the DIP Facility or the Liens securing the Obligations.

 

2.6. Evidence of Debt; Register;
Notes. (a) Lenders’ Evidence of Debt. Each Lender shall maintain records evidencing the Obligations of the Borrower
owing to such Lender, including the principal amount of the Loans made by such Lender and each repayment and prepayment in respect thereof.
Such records maintained by any Lender shall be prima facie evidence thereof, absent manifest error; provided that the failure
to maintain any such records, or any error therein, shall not in any manner affect the obligation of the Borrower to pay any amounts
due hereunder in accordance with the terms hereof; provided further that in the event of any inconsistency between the records
maintained by any Lender and the records maintained by the Administrative Agent, the records maintained by the Administrative Agent shall
govern and control.

 

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(b) 
 Register. The Administrative Agent shall maintain records of the name and address of, and the Commitments of and the principal
amount of and stated interest on the Loans owing to, each Lender from time to time (the “Register”). The entries in
the Register shall be prima facie evidence thereof, absent manifest error; provided that the failure to maintain the Register,
or any error therein, shall not in any manner affect the obligation of any Lender to make a Loan or other payment hereunder or the obligation
of the Borrower to pay any amounts due hereunder, in each case in accordance with the terms of this Agreement. The Register shall be available
for inspection by the Borrower or any Lender (but, in the case of a Lender, only with respect to (i) any entry relating to such Lender’s
Commitments or Loans and (ii) the identity of the other Lenders (but not information as to such other Lenders’ Commitments
or Loans)) at any reasonable time and from time to time upon reasonable prior notice. The Borrower hereby designates the Person serving
as the Administrative Agent to serve as the Borrower’s non-fiduciary agent solely for purposes of maintaining the Register as provided
in this Section 2.6(b) and agrees that, in consideration of such Person serving in such capacity, such Person and its Related Parties
shall constitute “Indemnitees”.

 

(c) 
Notes. Upon the request of any Lender by written notice to the Borrower (with a copy to the Administrative Agent), the Borrower
shall promptly prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender,
to such Lender and its registered assigns) to evidence such Lender’s Loans, which shall be substantially in the form attached hereto
as Exhibit F.

 

2.7. Interest on Loans.
(a) Subject to Section 2.9, each Loan shall bear interest on the outstanding principal amount thereof from the date made or deemed
made through repayment (whether by acceleration or otherwise) thereof as follows:

 

(i)   
if a Base Rate Loan, at the Base Rate plus the Applicable Rate with respect to Loans; or

 

(ii) 
if a Term SOFR Loan, at Adjusted Term SOFR plus the Applicable Rate with respect to Loans.

 

The applicable Base Rate or Adjusted Term SOFR
shall be determined by the Administrative Agent, and such determination shall be conclusive and binding on the parties hereto, absent
manifest error.

 

(b) 
The basis for determining the rate of interest with respect to any Loan, and the Interest Period with respect to any Term SOFR
Borrowing, shall be selected by the Borrower Representative pursuant to the applicable Funding Notice delivered in accordance herewith.

 

(c) 
All Loans shall be Term SOFR Loans unless the Administrative Agent determines in its sole discretion that a Benchmark Transition
Event has occurred or Term SOFR is otherwise unavailable and the Administrative Agent has affirmatively elected in its sole discretion
to cause all Loans to be treated as Base Rate Loans.

 

(d) Interest payable
pursuant to Section 2.7(a) shall be computed (i) in the case of Base Rate Loans, on the basis of a 360-day year (or, in the case of
Base Rate Loans determined by reference to the Prime Rate, a 365-day or 366-day year, as applicable), and (ii) in the case of Term
SOFR Loans, on the basis of a 360-day year, in each case for the actual number of days elapsed in the period during which such
interest accrues. In computing interest on any Loan, the date of the making of such Loan or the first day of an Interest Period
applicable to such Loan or, with respect to a Base Rate Loan being converted from a Term SOFR Loan on and after the date that the
Administrative Agent determines in its sole discretion that (i) a Benchmark Transition Event has occurred or Term SOFR is otherwise
unavailable and (ii) Base Rate Loans are permitted hereunder, the date of conversion of such Term SOFR Loan to such Base Rate Loan,
as the case may be, shall be included, and the date of payment of such Loan or the expiration date of an Interest Period applicable
to such Loan or, with respect to a Base Rate Loan being converted to a Term SOFR Loan, the date of conversion of such Base Rate Loan
to such Term SOFR Loan, as the case may be, shall be excluded; provided that if a Loan is repaid on the same day on which it
is made, one day’s interest shall accrue on such Loan.

 

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(e) 
Except as otherwise set forth herein, accrued interest on each Loan shall be payable in arrears (i) on each Interest Payment Date
applicable to such Loan, (ii) upon any voluntary or mandatory repayment or prepayment of such Loan, to the extent accrued on the amount
being repaid or prepaid, (iii) on the Termination Date and (iv) in the event of any conversion of a Term SOFR Loan prior to the end
of the Interest Period then applicable thereto as a result of the Administrative Agent determining in its sole discretion that a Benchmark
Transition Event has occurred or Term SOFR is otherwise unavailable, on the effective date of such conversion.

 

(f) 
In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Benchmark Administration
Changes from time to time and, notwithstanding anything to the contrary herein or in any other Credit Document, any amendments implementing
such Benchmark Administration Changes will become effective without any further action or consent of any other party to this Agreement
or any other Credit Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Benchmark
Administration Changes in connection with the use or administration of Term SOFR.

 

2.8. Continuation. Unless
the Administrative Agent has notified the Borrower Representative that a Benchmark Transition Event has occurred or Term SOFR is otherwise
unavailable, all outstanding Term SOFR Borrowings shall automatically continue, at the end of the Interest Period applicable to such
Term SOFR Borrowing, as a Term SOFR Borrowing of the same Interest Period.

 

2.9. Default Interest. If
any amount of principal of any Loan is not paid when due, whether at stated maturity, by acceleration or otherwise, such amount shall
thereafter bear interest at an interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable
Laws. If any amount (other than principal of any Loan) payable by the Borrower under any Credit Document is not paid when due, whether
at stated maturity, by acceleration or otherwise, then following any applicable cure period and upon the request of the Requisite Lenders,
such amount shall thereafter bear interest at an interest rate per annum at all times equal to the Default Rate to the fullest extent
permitted by applicable Laws and shall continue to bear interest at such rate until but excluding the date on which such Event of Default
is cured or waived. Upon the request of the Requisite Lenders, while any Event of Default exists (other than as a result of the immediately
preceding two sentences), the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at an interest
rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. Accrued and unpaid interest
on past due amounts (including interest on past due interest) shall be due and payable upon demand. Payment or acceptance of the increased
rates of interest provided for in this Section 2.9 is not a permitted alternative to timely payment and shall not constitute a waiver
of any Event of Default or otherwise prejudice or limit any rights or remedies of the Administrative Agent or any Lender.

 

2.10. Fees. (a) The Borrower
agrees to pay to the Administrative Agent and the Collateral Agent, for their own account, the fees in the amounts and at the times separately
agreed upon (including pursuant to the Administrative Agent Fee Letter) in respect of the credit facilities provided herein. Such fees
will be in addition to the payment of the Agents’ fees, costs and expenses pursuant to Sections 10.2 and 10.3 hereof.

 

(b) 
[Reserved].

 

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(c) 
 [Reserved].

 

(d) 
The Borrower agrees to pay to the Administrative Agent for the account of each Lender a ticking fee, which shall accrue at 0.50%
on the daily undrawn amount of the Lender’s Delayed Draw Commitment, commencing on the Closing Date, and continuing through and
including the Delayed Draw Commitment Termination Date. Accrued ticking fees shall be payable in arrears on each Interest Payment Date
and on the Delayed Draw Commitment Termination Date, commencing on the first such date to occur after the date hereof. All ticking fees
shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day
but excluding the last day).

 

(e) 
Fees paid hereunder and pursuant to the Administrative Agent Fee Letter shall be fully earned when due. Such fees shall not be
refundable or creditable under any circumstances except as may be expressly agreed in writing by the party to whom such fees are or are
to be paid.

 

2.11. Repayment on Maturity
Date. (a) To the extent not previously paid, all Term Loans and any applicable Exit Fee shall be due and payable on the Termination
Date.

 

(b) 
Each repayment of a Borrowing shall be allocated among the Lenders holding Loans comprising such Borrowing in accordance with their
applicable Pro Rata Shares.

 

2.12. Voluntary Prepayments.
(a) Voluntary Prepayments. (i) At any time, the Borrower may, without premium or penalty (other than the Exit Fee) but subject
to compliance with the conditions set forth in this Section 2.12(a) and with Section 2.24, prepay any Term Borrowing in whole or in part;
provided that each such partial voluntary prepayment of any Borrowing shall be in an aggregate principal amount of $1,000,000
or an integral multiple of $500,000 in excess of such amount (or such lesser amount that constitutes the full amount of the Term Loans
outstanding).

 

(ii) 
To make a voluntary prepayment pursuant to Section 2.12(a)(i), the Borrower shall notify the Administrative Agent in writing
not later than 11:00 a.m. (New York City time) at least three Business Days prior to the date of prepayment. Each such notice shall
specify the prepayment date (which shall be a Business Day), the principal amount of each Borrowing or portion thereof to be prepaid and
the applicable Exit Fee, and shall be given in writing. Each such notice shall be irrevocable, and the principal amount of each Borrowing
specified therein shall become due and payable on the prepayment date specified therein; provided that a notice of prepayment of
any Borrowing pursuant to Section 2.12(a)(i) may state that such notice is conditioned upon the occurrence of one or more events specified
therein, in which case such notice may be rescinded by the Borrower (by notice to the Administrative Agent on or prior to the specified
date of prepayment) if such condition is not satisfied. Promptly following receipt of any such notice, the Administrative Agent shall
advise the Lenders of the details thereof. Each voluntary prepayment of a Borrowing shall be allocated among the Lenders holding Loans
comprising such Borrowing in accordance with their applicable Pro Rata Shares.

 

2.13. Mandatory Prepayments.
(a) Asset Sales. On the date of receipt by the Borrower or any Restricted Subsidiary of any Net Proceeds in respect of any Asset
Sale or any payments or distributions on account of any interest (including any Equity Interest) or other right (including under any
debt or other security) that it holds in a Person (including any Subsidiary or Subject Entity), the Borrower shall prepay the Term Borrowings
(and pay any applicable Exit Fee) in an aggregate amount equal to 100% of such Net Proceeds or such payments or distributions.

 

(b) Insurance
Events. On the date of receipt by the Borrower or any Restricted Subsidiary, or by the Collateral Agent as loss payee, of any
Net Proceeds in respect of any Insurance Event, the Borrower shall prepay the Term Borrowings in an aggregate amount equal to 100%
of such Net Proceeds.

 

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(c) 
Issuance of Debt. On the date of receipt by the Borrower or any Restricted Subsidiary of any Net Proceeds from the incurrence
of any Indebtedness (other than any Indebtedness permitted to be incurred pursuant to Section 6.1), the Borrower shall prepay the Term
Borrowings in an aggregate amount equal to 100% of such Net Proceeds.

 

(d) 
Extraordinary Receipts. On the date of receipt by the Borrower or any Restricted Subsidiary of any Extraordinary Receipts,
the Borrower shall prepay the Term Borrowings in an aggregate amount equal to one hundred percent (100%) of such Extraordinary Receipts.

 

(e) 
Notice and Certificate. At least one Business Day prior to any mandatory prepayment pursuant to this Section 2.13, the Borrower
(i) shall notify the Administrative Agent in writing of such prepayment and (ii) shall deliver to the Administrative Agent a certificate
of an Authorized Officer of the Borrower setting forth the calculation of the amount of the applicable prepayment. Each such notice shall
be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid and shall
be given in writing. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the details thereof.
Each mandatory prepayment of any Borrowing shall be allocated among the Lenders holding Loans comprising such Borrowing in accordance
with their applicable Pro Rata Shares.

 

2.14. Waivable Mandatory Prepayments.
Notwithstanding anything herein to the contrary, any Lender may elect, by written notice to the Administrative Agent at least one Business
Day (or such shorter period as may be established by the Administrative Agent in its sole discretion) prior to the required prepayment
date, to decline all or any portion of any mandatory prepayment of its Term Loans pursuant to Section 2.13.

 

2.15. General Provisions Regarding
Payments. (a) All payments by the Borrower or any other Credit Party of principal, interest, fees and other amounts required to be
made hereunder or under any other Credit Document shall be made by wire transfer of same day funds in Dollars, without defense, recoupment,
set-off or counterclaim, free of any restriction or condition, to the account of the Administrative Agent in the United States of America
most recently designated by it for such purpose and received by the Administrative Agent not later than 2:00 p.m. (New York City time)
on the date due for the account of the Persons entitled thereto; provided that payments made pursuant to Sections 2.18, 2.19,
2.24, 10.2 and 10.3 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any payment received
by it hereunder for the account of any other Person to the appropriate recipient promptly following receipt thereof.

 

(b) 
All payments in respect of the principal amount of any Loan shall be accompanied by payment of accrued interest on the principal
amount being repaid or prepaid, and all such payments (and, in any event, any payments in respect of any Loan on a date when interest
is due and payable with respect to such Loan) shall be applied to the payment of interest then due and payable before application to principal.

 

(c) 
Subject to the proviso set forth in the definition of “Interest Period”, whenever any payment to be made hereunder
with respect to any Loan shall be stated to be due on a day that is not a Business Day, such payment shall be made on the next succeeding
Business Day, and such extension of time shall be included in the computation of the payment of interest hereunder.

 

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(d) 
 Any payment hereunder by or on behalf of the Borrower to the Administrative Agent that is not received by the Administrative Agent
in same day funds prior to 2:00 p.m. (New York City time) on the date due shall, unless the Administrative Agent shall determine otherwise,
be deemed to have been received, for purposes of computing interest and fees hereunder (including for purposes of determining the applicability
of Section 2.9), on the Business Day immediately following the date of receipt (or, if later, the Business Day immediately following the
date the funds received become available funds).

 

(e) 
If an Event of Default shall have occurred and the maturity of the Loans shall have been accelerated pursuant to Section 8.1,
all payments or proceeds received by the Administrative Agent or the Collateral Agent in respect of any of the Obligations, or from any
sale of, collection from or other realization upon all or any part of the Collateral, shall be applied in accordance with the application
arrangements set forth in this Agreement and the Security Agreement.

 

(f) 
Unless the Administrative Agent shall have been notified by the Borrower prior to the date on which any payment is due to the Administrative
Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that
the Borrower has made such payment on such date in accordance herewith and may, in its sole discretion, but shall not be obligated to,
distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders severally
agrees to pay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each
day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent (i)
at any time prior to the third Business Day following the date such amount is distributed to it, the customary rate set by the Administrative
Agent for the correction of errors among banks and (ii) thereafter, the Base Rate.

 

2.16. Ratable Sharing. The
Lenders hereby agree among themselves that if any Lender shall, whether through the exercise of any right of set-off or banker’s
lien, by counterclaim or cross action or by the enforcement of any right under the Credit Documents or otherwise, or as adequate protection
of a deposit treated as cash collateral under the Bankruptcy Code, receive payment of a portion of the aggregate amount of any principal,
interest and fees owing to such Lender hereunder or under the other Credit Documents (collectively, the “Aggregate Amounts Due”
to such Lender) resulting in such Lender receiving payment of a greater proportion of the Aggregate Amounts Due to such Lender than the
proportion received by any other Lender in respect of the Aggregate Amounts Due to such other Lender, then the Lender receiving such
proportionately greater payment shall (a) notify the Administrative Agent and each other Lender in writing of the receipt of such
payment and (b) apply a portion of such payment to purchase (for cash at face value) participations in the Aggregate Amounts Due
to the other Lenders so that all such payments of Aggregate Amounts Due shall be shared by all the Lenders ratably in accordance with
the Aggregate Amounts Due to them; provided that, if all or part of such proportionately greater payment received by any purchasing
Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of any Credit Party or otherwise, such purchase
shall be rescinded and the purchase price paid for such participation shall be returned to such purchasing Lender ratably to the extent
of such recovery, but without interest. Each Credit Party expressly consents to the foregoing arrangements and agrees that any holder
of a participation so purchased may exercise any and all rights of banker’s lien, consolidation, set-off or counterclaim with
respect to any and all monies owing by such Credit Party to such holder with respect thereto as fully as if such holder were owed the
amount of the participation held by such holder. The provisions of this Section 2.16 shall not be construed to apply to (i) any payment
made by the Borrower pursuant to and in accordance with the express terms of this Agreement, including the application of funds arising
from the existence of a Defaulting Lender or any payment made by the Borrower pursuant to Section 2.22, or (ii) any payment obtained
by any Lender as consideration for the assignment of or sale of a participation in Loans or other Obligations owing to it pursuant to
and in accordance with the express terms of this Agreement.

 

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2.17. Administration of the
Benchmark.

 

(a) 
If prior to any Interest Payment Date, the Administrative Agent determines in its sole discretion that, by reason of circumstances
affecting the relevant market, (i) adequate and reasonable means do not exist for ascertaining the Benchmark, (ii) the applicable Benchmark
is no longer in existence, (iii) continued implementation of the Benchmark is no longer administratively feasible or no significant market
practice for the administration of the Benchmark exists, (iv) the Benchmark will not adequately and fairly reflect the cost to the Lenders
of making or maintaining the Loans or (v) the administrator of the applicable Benchmark or a Governmental Authority having jurisdiction
over the administrator of the applicable Benchmark has made a public statement identifying a specific date after which the Benchmark shall
no longer be made available or used for determining the interest rate of loans (each, a “Benchmark Transition Event”),
the Administrative Agent may give notice thereof to the Borrower Representative, whereupon the rate that will replace the Benchmark for
the accrual period immediately succeeding such Interest Payment Date, and for all subsequent accrual periods until such notice has been
withdrawn by the Administrative Agent, shall be the greater of (i) an alternative benchmark rate (including any mathematical or other
adjustments to such benchmark rate (if any) incorporated therein) and (ii) the Floor, in lieu of the then-applicable Benchmark, together
with any proposed Benchmark Administration Changes, as determined by the Administrative Agent in its sole discretion.

 

(b) 
Subject to the following sentence, the Administrative Agent will have the right to make Benchmark Administration Changes from time
to time with respect to the Benchmark (including any Benchmark Replacement Rate) and will notify the Borrower of the effectiveness of
any such changes.

 

2.18. Increased Costs; Capital
Adequacy and Liquidity. (a) Increased Costs Generally. If any Change in Law shall:

 

(i)   
(i) impose, modify or deem applicable any reserve (including pursuant to regulations issued from time to time by the Federal Reserve
Board for determining the maximum reserve requirement (including any emergency, special, supplemental or other marginal reserve requirement)
with respect to eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D)), special deposit,
compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or
participated in by, any Lender;

 

(ii) 
subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d)
of the definition of “Excluded Taxes” and (C) Connection Income Taxes) on its loans, loan principal, letters of credit,
commitments or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

 

(iii) 
impose on any Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement
or any Loan made by such Lender or participation therein;

 

and the result of any of the foregoing shall
be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any Loan or of
maintaining its obligation to make any such Loan or to reduce the amount of any sum received or receivable by such Lender or other
Recipient hereunder (whether of principal, interest or any other amount) then, from time to time upon request of such Lender or
other Recipient, the Borrower will pay to such Lender or other Recipient, as the case may be, such additional amount or amounts as
will compensate such Lender or other Recipient, as the case may be, for such additional costs incurred or reduction suffered.

 

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(b) 
Capital and Liquidity Requirements. If any Lender determines that any Change in Law affecting such Lender or any lending
office of such Lender or such Lender’s holding company, if any, regarding capital or liquidity requirements, has had or would have
the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if
any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by such Lender to a level below that which such
Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s
policies and the policies of such Lender’s holding company with respect to capital adequacy or liquidity), then from time to time
upon request of such Lender, the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or
such Lender’s holding company for any such reduction suffered.

 

(c) 
Certificates for Reimbursement. A certificate of a Lender setting forth the amount or amounts necessary to compensate such
Lender or its holding company, as the case may be, as specified in Section 2.18(a) or 2.18(b) and delivered to the Borrower (with
a copy to the Administrative Agent), shall be conclusive absent manifest error. The Borrower shall pay such Lender, as the case may be,
the amount shown as due on any such certificate within 30 days after receipt thereof.

 

(d) 
Delay in Requests. Failure or delay on the part of any Lender to demand compensation pursuant to this Section 2.18 shall
not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not be required
to compensate a Lender pursuant to this Section 2.18 for any increased costs incurred or reductions suffered more than 120 days prior
to the date that such Lender, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions,
and of such Lender’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs
or reductions is retroactive, then the 120-day period referred to above shall be extended to include the period of retroactive effect
thereof).

 

(e) 
Certain Limitations. Notwithstanding any other provision of this Section to the contrary, no Lender shall request, or be
entitled to receive, any compensation pursuant to this Section unless it shall be the general policy or practice of such Lender to seek
compensation in similar circumstances under comparable provisions of other credit agreements, if any.

 

2.19. Taxes; Withholding, Etc.

 

(a) 
Payments Free of Taxes. Any and all payments by or on account of any obligation of any Credit Party under any Credit Document
shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined
in the good faith discretion of an applicable withholding agent) requires the deduction or withholding of any Tax from any such payment
by a withholding agent, then the applicable withholding agent shall be entitled to make such deduction or withholding and shall timely
pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is
an Indemnified Tax, then the sum payable by the applicable Credit Party shall be increased as necessary so that after such deduction or
withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 2.19)
the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.

 

(b) 
Payment of Other Taxes by the Credit Parties. Each Credit Party shall timely pay to the relevant Governmental Authority
in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

 

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(c) 
 Indemnification by the Credit Parties. The Credit Parties shall jointly and severally indemnify each Recipient, within
30 days after written demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on
or attributable to amounts payable under this Section 2.19) payable or paid by such Recipient or required to be withheld or deducted from
a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes
were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or
liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf
(including in its capacity as the Collateral Agent) or on behalf of a Lender, shall be conclusive absent manifest error.

 

(d) 
Indemnification by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within 30 days after demand
therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that no Credit Party has already indemnified
the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Credit Parties to do so), (ii) any Taxes
attributable to such Lender’s failure to comply with the provisions of Section 10.6(g) relating to the maintenance of a Participant
Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent
in connection with any Credit Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes
were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or
liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes
the Administrative Agent to set-off and apply any and all amounts at any time owing to such Lender under any Credit Document or otherwise
payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this
Section 2.19(d).

 

(e) 
Evidence of Payments. As soon as practicable after any payment of Taxes by any Credit Party to a Governmental Authority
pursuant to this Section 2.19, such Credit Party shall deliver to the Administrative Agent the original or a certified copy of a receipt
issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment
reasonably satisfactory to the Administrative Agent or the relevant Lender, as applicable.

 

(f) 
Status of Lenders. (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to
payments made under any Credit Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested
by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or
the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition,
any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by
applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent
to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything
to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation
set forth in Section 2.19(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s judgment such completion,
execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal
or commercial position of such Lender.

 

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(ii) 
Without limiting the generality of the foregoing:

 

(A) 
 Any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such
Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax.

 

(B)   
Any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in
such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under
this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of
the following is applicable:

 

(1) 
in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect
to payments of interest under any Credit Document, executed copies of IRS Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption
from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect
to any other applicable payments under any Credit Document, IRS Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption from,
or reduction of, US federal withholding Tax pursuant to the “business profits” or “other income” article of such
tax treaty;

 

(2) 
executed copies of IRS Form W-8ECI;

 

(3) 
in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Internal
Revenue Code, (x) a certificate substantially in the form of Exhibit G-1 to the effect that such Foreign Lender is not a
“bank” within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, a “10 percent shareholder” of
the Borrower within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code, or a “controlled foreign corporation”
described in Section 881(c)(3)(C) of the Internal Revenue Code (a “U.S. Tax Compliance Certificate”) and
(y) executed copies of IRS Form W-8BEN or W-8BEN-E, as applicable; or

 

(4) 
to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI,
IRS Form W-8BEN or W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially in the form of Exhibit G-2 or
Exhibit G-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided
that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio
interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit G-4
on behalf of each such direct and indirect partner.

 

(C)   
Any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in
such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under
this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies
of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in US federal withholding Tax, duly
completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative
Agent to determine the withholding or deduction required to be made.

 

(D) If a payment made to
a Lender under any Credit Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to
comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Internal
Revenue Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed
by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by
applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such additional documentation
reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent
to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations
under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D),
“FATCA” shall include any amendments made to FATCA after the date of this Agreement. For purposes of this Section 2.19,
the term “applicable law” includes FATCA.

 

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(iii) 
Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect,
it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability
to do so.

 

(g) 
Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received
a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.19 (including by the payment of additional amounts
pursuant to this Section 2.19), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of
indemnity payments made under this Section 2.19 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses
(including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party
the amount paid over pursuant to this Section 2.19(g) (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything
to the contrary in this Section 2.19(g), in no event will the indemnified party be required to pay any amount to an indemnifying party
pursuant to this Section 2.19(g) the payment of which would place the indemnified party in a less favorable net after-Tax position than
the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld
or otherwise imposed and the indemnification payments or additional amounts giving rise to such refund had never been paid. This Section
2.19(g) shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to
its Taxes that it deems confidential) to the indemnifying party or any other Person.

 

(h) 
Survival. Each party’s obligations under this Section 2.19 shall survive the resignation or replacement of the Administrative
Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction
or discharge of all obligations under any Credit Document.

 

2.20. Obligation to Mitigate.
If any Lender requests compensation under Section 2.18, or if the Borrower is required to pay any Indemnified Taxes or additional
amount to any Lender or to any Governmental Authority for the account of any Lender pursuant to Section 2.19, then such Lender shall
(at the request of the Borrower) use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder
or to assign and delegate its rights and obligations hereunder to another of its offices, branches or Affiliates if, in the judgment
of such Lender, such designation or assignment and delegation (a) would eliminate or reduce amounts payable pursuant to Section 2.18
or 2.19, as the case may be, in the future and (b) would not subject such Lender to any unreimbursed cost or expense and would not otherwise
be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection
with any such designation or assignment and delegation.

 

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

 

(i)   
Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Administrative Agent
for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 8 or otherwise) or received
by the Administrative Agent from a Defaulting Lender pursuant to Section 10.4 shall be applied at such time or times as may be determined
by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative
Agent or the Collateral Agent under the Credit Documents; second, as the Borrower may request (so long as no Default or Event of
Default shall have occurred and be continuing), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund
its portion thereof as required by this Agreement, as determined by the Administrative Agent; third, if so determined by the Administrative
Agent and the Borrower, to be held in a deposit account and released pro rata in order to satisfy such Defaulting Lender’s potential
future funding obligations with respect to Loans under this Agreement; fourth, to the payment of any amounts owing to the Borrower
as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of
such Defaulting Lender’s breach of its obligations under this Agreement; and fifth, to such Defaulting Lender or as otherwise
directed by a court of competent jurisdiction. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that
are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.21(a)(i) shall
be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

 

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(ii) 
Participation as Requisite Lender. The Commitments and Loans of such Defaulting Lender shall not be included in determining
whether the Requisite Lenders or any other requisite Lenders have taken or may take any action hereunder or under any other Credit Document
(including any consent to any amendment, waiver or other modification pursuant to Section 10.5); provided that any amendment, waiver
or other modification that under clauses (i), (ii), (iii), (iv), (v) or (vi) of Section 10.5(b) requires the consent of all Lenders affected
thereby shall require the consent of such Defaulting Lender in accordance with the terms thereof.

 

(b) 
Defaulting Lender Cure. If the Borrower and the Administrative Agent agree in writing that a Lender is no longer a Defaulting
Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject
to any conditions set forth therein, such Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of
the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans to be held by
the Lenders in accordance with their respective applicable Pro Rata Shares, whereupon such Lender will cease to be a Defaulting Lender;
provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower
while such Lender was a Defaulting Lender.

 

2.22. Replacement of Lenders.
If (a) any Lender requests compensation under Section 2.18, (b) the Borrower is required to pay any Indemnified Taxes or additional amount
to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.19 or (c) any Lender fails to consent
to a proposed waiver, amendment or other modification of any Credit Document, or to any departure of any Credit Party therefrom, that
under Section 10.5 requires the consent of all the Lenders (or all the affected Lenders or all the Lenders) and with respect to which
the Requisite Lenders shall have granted their consent, in each case of immediately preceding clauses (a), (b) and (c), solely so long
as such Lender has declined or is unable to designate a different lending or issuing office in accordance with this Agreement, then the
Administrative Agent may, at Borrower’s sole expense, upon notice to such Lender and the Borrower Representative, require such
Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 10.6, including
the consent requirements set forth therein), all its interests, rights and obligations under this Agreement and the other Credit Documents
(other than existing rights to payment under Sections 2.18, 2.19 and 2.24) (or, in the case of any such assignment and delegation resulting
from a failure to provide a consent, all such interests, rights and obligations under this Agreement and the other Credit Documents as
a Lender) to an Eligible Assignee that shall assume such obligations (which may be another Lender, if a Lender accepts such assignment
and delegation); provided that (i) the Borrower shall have caused to be paid to the Administrative Agent the registration and processing
fee referred to in Section 10.6(d), (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its
Loans, accrued interest thereon and accrued fees and all other amounts payable to it hereunder, (iii) such assignment and delegation
does not conflict with applicable law, (iv) in the case of any such assignment and delegation resulting from a claim for compensation
under Section 2.18 or payments required to be made pursuant to Section 2.19, such assignment will result in a reduction in such compensation
or payments thereafter and (v) in the case of any such assignment and delegation resulting from the failure to provide a consent, the
assignee shall have given such consent. A Lender shall not be required to make any such assignment and delegation if, prior thereto,
as a result of a waiver or consent by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and
delegation have ceased to apply. Each party hereto agrees that an assignment and delegation required pursuant to this Section 2.22 may
be effected pursuant to an Assignment Agreement executed by the Borrower, the Administrative Agent and the assignee and that the Lender
required to make such assignment and delegation need not be a party thereto.

 

2.23. Release. Each of the
Borrower and the Guarantors hereby acknowledge effective upon entry of the Final Order, and subject to the terms thereof, that the Borrower,
the Guarantors and any of their Subsidiaries have no defense, counterclaim, offset, recoupment, claim or demand of any kind or nature
whatsoever that can be asserted to reduce or eliminate all of any part of the Borrower’s, the Guarantors’ or their respective
Subsidiaries’ liability to repay the Administrative Agent or any Lender as provided in this Agreement or to seek affirmative relief
or damages of any kind or nature from the Administrative Agent or any Lender. Upon entry of the Final Order, the Borrower and the Guarantors,
each in their own right and on behalf of their bankruptcy estates, and on behalf of all their successors, assigns, Subsidiaries and any
Affiliates and any Person acting for and on behalf of, or claiming through them, (collectively, the “Releasing Parties”),
hereby fully, finally and forever release and discharge the Administrative Agent and Lenders and all of Administrative Agent’s
and Lenders’ officers, directors, servants, agents, attorneys, assigns, heirs, parents, subsidiaries, and each Person acting for
or on behalf of any of them, each solely in their capacity as such (collectively, the “Released DIP Parties”) of and from
any and all actions, causes of action, demands, suits, claims, liabilities, Liens, lawsuits, adverse consequences, amounts paid in settlement,
costs, damages, debts, deficiencies, diminution in value, disbursements, expenses, losses and other obligations of any kind or nature
whatsoever, in each case, existing at the time of entry of the Final Order, whether in law, equity or otherwise (including, without limitation,
those arising under sections 541 through 550 of the Bankruptcy Code and interest or other carrying costs, penalties, legal, accounting
and other professional fees and expenses, and incidental, consequential and punitive damages payable to third parties), directly or indirectly
arising out of, connected with or relating to this Agreement, the Interim Order, the Final Order and the transactions contemplated hereby,
and all other agreements, certificates, instruments and other documents and statements (whether written or oral) related to any of the
foregoing.

 

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2.24. Compensation for
Losses. In the event of (a) the payment of any principal of any Term SOFR Loan other than on the last day of the Interest Period
applicable thereto (including as a result of an Event of Default), (b) the conversion of any Term SOFR Loan other than on the last
day of the Interest Period applicable thereto (including as a result of an Event of Default), (c) the failure to borrow, convert,
continue or prepay any Term SOFR Loan on the date specified in any notice delivered pursuant hereto, or (d) the assignment of any
Term SOFR Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower
pursuant to Section 2.20, then, in any such event, the Borrower shall compensate each Lender for any loss, cost and expense
attributable to such event, including any loss, cost or expense arising from the liquidation or redeployment of funds or from any
fees payable. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to
this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender
the amount shown as due on any such certificate within thirty (30) days after receipt thereof.

 

2.25.
[Reserved].

 

2.26.
Collateral; Guarantees.

 

(a) 
Priority and Liens. The parties hereto acknowledge and agree that, upon entry of the Interim Order (and when entered, the
Final Order) and the delivery and execution of this Agreement, the Obligations shall at all times be secured and perfected pursuant to,
and have the super-priority claims and Liens in all of the DIP Collateral (as defined in the applicable Order), but in any case, excluding
any Excluded Assets, now existing or hereafter acquired, as set forth in the Orders and herein.

 

(b) 
Payment of Obligations. Subject to the Orders, on the Termination Date, the Lenders shall be entitled to immediate payment
of all Obligations without further application to, or order of, the Bankruptcy Court.

 

(c) 
No Discharge; Survival of Claims. Each Debtor agrees that, unless otherwise agreed to by the Administrative Agent (at the
direction of the Requisite Lenders) (a) any Confirmation Order entered in the Cases shall not discharge or otherwise affect in any way
any of the Obligations, other than after or upon the payment in full in cash to the Secured Parties of all Obligations and termination
of the Commitments on or before the effective date of an Approved Plan and (b) to the extent the Obligations are not satisfied in full,
(i) the Obligations shall not be discharged by the entry of a Confirmation Order (and each Debtor, pursuant to Section 1141(d)(4) of the
Bankruptcy Code, hereby waives any such discharge) and (ii) the Superpriority Claim granted to the Agents and the Secured Parties pursuant
to the Orders and the Liens granted to the Collateral Agent pursuant to the Orders shall not be affected in any manner by the entry of
a Confirmation Order.

 

(d) Perfection and
Protection of Security Interests and Liens; Insurance Premiums. Each Debtor will from time to time deliver to the Agents all
financing statements, amendments, assignments and continuation statements, extension agreements and other documents, properly
completed and executed (and acknowledged when required) by each Debtor in form and substance satisfactory to the Agents in their
reasonable discretion, in each case, which the Agents request for the purpose of confirming or protecting its lien and security
interest in Collateral for the purpose of securing the Obligations. Each Credit Party hereby confirms and acknowledges that,
pursuant to the Interim Order (and, when entered, the Final Order), the Liens in favor of the Collateral Agent on behalf of and for
the benefit of the Secured Parties in all of the Collateral shall be created and perfected, to the maximum extent permitted by law,
without the execution or the recordation or filing in any land records or filing offices of, any assignment, security agreements,
mortgages, springing control agreements (other than the Delayed Draw Premium Reserve Account), pledge agreements, financing
statements or other similar documents, or the possession or control by the Collateral Agent of, or over, any Collateral, as set
forth in the Interim Order (and, when entered, the Final Order). Each Credit Party authorizes the Collateral Agent (and its counsel
and agents) to file or record, at any time and from time to time, financing statements and other filing or recording documents or
instruments, and any amendments, continuations or terminations thereof, with respect to the Collateral, without notice to any Credit
Party and without the signature of such Credit Party (unless such signature is required by applicable Law), in such form and in such
offices as the Collateral Agent determines in its reasonable discretion is necessary or appropriate to perfect or protect, or
continue to perfect or protect, the security interests of the Collateral Agent created under the Credit Documents. Each Credit Party
authorizes the Collateral Agent to use the collateral description “all personal property”, “all assets”,
“all assets of the debtor, whether now owned or existing or at any time hereafter acquired or arising and wheresoever located,
and all proceeds and products thereof” or words of similar effect, or as being of an equal or lesser scope, or with greater
detail, all in the Collateral Agent’s discretion, regardless of whether any particular asset comprised in the Collateral falls
within the scope of Article 9 of the UCC, in any such financing statements. Each Credit Party hereby ratifies and authorizes the
filing by the Collateral Agent (and its counsel and agents) of any financing statement with respect to the Collateral made prior to
the date hereof.

 

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(e) 
Offset. Subject to the terms and conditions set forth in the applicable Order, in addition to any other rights and remedies
of the Lenders upon the occurrence and during the continuation of any Events of Default and subject to the Enforcement Notice Period,
each Lender is authorized to set-off and apply, without notice to any Debtor (other than as required in the applicable Order) (i) any
and all monies, securities or other property (and the proceeds therefrom) of any Debtor now or hereafter held or received by or in transit
to such Lender from or for the account of any Debtor, whether for safekeeping, custody, pledge, transmission, collection or otherwise,
any and all deposits (general or special, time or demand, provisional or final) of any Debtor with such Lender, and (ii) any other credits
and claims of any Debtor at any time existing against the such Lender, including claims under certificates of deposit. During the existence
of any Event of Default, but subject to the Enforcement Notice Period any Agent or any Lender is hereby authorized to foreclose upon,
offset, appropriate, and apply, at any time and from time to time, without notice to any Debtor, any and all items hereinabove referred
to against the Obligations then due and payable.

 

(f)    
Value. The direct or indirect value of the consideration received and to be received by each Guarantor (if any) in connection
herewith is reasonably worth at least as much as the liability and obligations of each Guarantor hereunder (if any) and under the other
Credit Documents, and the incurrence of such liability and obligations in return for such consideration may reasonably be expected to
benefit each Guarantor, directly or indirectly.

 

(g) 
Collateral. Upon the entry of, and subject to, the Interim Order (and, when entered, the Final Order), all Obligations of
the Debtors to the Lenders under the Credit Documents, including all Loans made under the DIP Facility, shall, subject to the Carve-Out
and Liens of the type described in Sections 6.2(e), (f) and (j), at all times:

 

(i) 
pursuant to Bankruptcy Code section 364(c)(1), be entitled to joint and several Superpriority Claim status in the Case;

 

(ii) 
pursuant to Bankruptcy Code section 364(c)(2), be secured by a perfected first priority Lien on the Collateral to the extent that
such Collateral is not subject to valid, perfected and non-avoidable Liens as of the Petition Date or Liens that were in existence immediately
prior to the Petition Date that become perfected subsequent to the Petition Date as permitted by Section 546(b) of the Bankruptcy Code,
including, subject to the entry of the Final Order, the Avoidance Action Proceeds;

 

(iii) 
pursuant to Bankruptcy Code section 364(c)(3), be secured by a perfected junior lien on all assets of the Debtors, to the extent
that such assets are subject to a valid, perfected and non-avoidable Liens as of the Petition Date or Liens that were in existence immediately
prior to the Petition Date that are perfected as permitted by Section 546(b) of the Bankruptcy Code (in each case, other than (x) Liens
securing Indebtedness permitted by Section 6.1(c) and (y) Excluded Assets); and

 

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(iv) 
 pursuant to Bankruptcy Code section 364(d), be secured by a perfected super-priority priming Lien on all Collateral to the extent
that such Collateral is subject to valid, perfected and non-avoidable liens in favor of third parties as of the commencement of the Case,
including, all accounts receivable, inventory, real and personal property, plant and equipment of the Debtors, whether now existing or
hereafter acquired or arising, that secure Indebtedness permitted by Section 6.1(c).

 

SECTION 3. CONDITIONS
PRECEDENT

 

3.1. Closing Date. This
Agreement and the obligation of each Lender to make any Credit Extension shall not become effective until the date on which each of the
following conditions shall be satisfied (or waived in accordance with Section 10.5):

 

(a) 
Credit Agreement. The Administrative Agent shall have received from the Borrower and each other party hereto a counterpart
of this Agreement signed on behalf of such party.

 

(b) 
Organizational Documents; Incumbency. The Administrative Agent and the Lenders shall have received, in respect of the Borrower
and any Guarantor, a certificate of such Person, dated the Closing Date, and executed by the secretary or an assistant secretary or manager
of such Person, attaching (i) a copy of each Organizational Document of such Person, which shall be certified as of the Closing Date or
a recent date prior thereto by the appropriate Governmental Authority, (ii) signature and incumbency certificates of the officers/manager
or general partner of such Person executing each Credit Document, (iii) resolutions of the Board of Managers, Board of Directors or similar
governing body of such Person approving and authorizing the execution, delivery and performance of this Agreement and the other Credit
Documents to which it is a party, certified as of the Closing Date by such secretary or assistant secretary or manager as being in full
force and effect without modification or amendment, and (iv) a good standing certificate from the applicable Governmental Authority
of such Person’s jurisdiction of organization or incorporation, dated the Closing Date or a recent date prior thereto.

 

(c) 
Collateral Requirement. The Administrative Agent shall have received from the Borrower and each other party thereto a counterpart
of the Security Agreement signed on behalf of such party and the Collateral Agent shall have been granted a first priority Lien on the
Collateral. The Collateral Agent and the Lenders shall have received the results of searches of the UCC (or equivalent) filings made with
respect to the Credit Parties reasonably satisfactory to the Requisite Lenders and copies of the financing statements (or similar documents)
disclosed by such searches and evidence reasonably satisfactory to the Requisite Lenders that the Liens indicated by such financing statements
(or similar documents) are Permitted Liens or have been, or substantially contemporaneously with the initial funding of Loans on the Closing
Date will be, released.

 

(d) 
Evidence of Insurance. The Collateral Agent and the Lenders shall have received a certificate from the Borrower’s
insurance broker or other evidence reasonably satisfactory to the Requisite Lenders that the insurance required to be maintained pursuant
to Section 5.5 is in full force and effect.

 

(e) 
Evidence of the DLP IV Credit Agreement. The Administrative Agent shall have received all documentation or information it
shall request in relation to DLP IV Credit Agreement, including any amendments and notifications delivered to the lender(s) and the borrower(s)
thereunder.

 

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(f) Fees and Expenses.
The Borrower shall have paid to the Administrative Agent and the Lenders all fees and expenses (including the Closing Fee, all legal
fees and expenses and recording fees) and other amounts due and payable on or prior to the Closing Date pursuant to the Credit Documents
and the Administrative Agent Fee Letter. The Administrative Agent shall have received a fully executed copy of the Administrative Agent
Fee Letter.

 

(g) 
Closing Date Certificate. The Administrative Agent and the Lenders shall have received the Closing Date Certificate, dated
the Closing Date and signed by an Authorized Officer of the Borrower, together with all attachments thereto.

 

(h) 
PATRIOT Act. At least one (1) day prior to the Closing Date, the Lenders and the Administrative Agent shall have received
all documentation and other information that the Administrative Agent and/or any Lender reasonably determines is required by bank regulatory
authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the PATRIOT Act,
to the extent requested at least two (2) days prior to the Closing Date, and any Borrower that qualifies as a “legal entity customer”
under the Beneficial Ownership Regulation shall deliver a Beneficial Ownership Certification in relation to such Borrower, to the extent
requested at least two (2) days prior to the Closing Date.

 

(i) 
Initial DIP Budget. At least two days prior to the Closing Date, the Administrative Agent shall have received (i) the Initial
DIP Budget, in form, scope and substance satisfactory to the Administrative Agent in its sole discretion and (ii) such other additional
information (financial or otherwise) as may be reasonably requested by the Administrative Agent or the Requisite Lenders.

 

(j) 
Funding Notice. The Administrative Agent and the Lenders’ financial advisor shall have received a fully completed
and executed Funding Notice.

 

(k) 
Petition Date. The Petition Date shall have occurred, and the Borrower and each Guarantor shall be a debtor and debtor-in-possession
in the Cases.

 

(l) 
Bankruptcy Related Items.

 

(i) 
The Cases of any of the Debtors shall have not been dismissed or converted to cases under Chapter 7 of the Bankruptcy Code.

 

(ii) 
A motion, in form and substance satisfactory to the Requisite Lenders in their sole discretion, seeking approval of the DIP Facility,
shall have been filed on the Petition Date.

 

(iii) 
Each “first day” order and related pleading that affects any right or duty of the Administrative Agent or any Lender,
including the Cash Management Order, shall have been entered by the Bankruptcy Court and be acceptable in form and substance to the Administrative
Agent in its reasonable discretion, and all other “first day” orders and related pleadings (including any motion related to
cash management or any critical vendor or supplier motion) intended to be entered on or prior to the Interim Order Entry Date shall have
been entered by the Bankruptcy Court.

 

(iv) 
The Debtors shall have made no payments after the Petition Date on account of any Indebtedness arising prior to the Petition Date
unless such payment is made (i) in accordance with the Approved Budget, (ii) with the consent of the Requisite Lenders in their reasonable
discretion or (iii) pursuant to “first day” orders acceptable to the Requisite Lenders in their sole discretion.

 

(v) 
No trustee under Chapter 7 or Chapter 11 of the Bankruptcy Code or examiner shall have been appointed in any of the Cases.

 

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(vi) The Collateral Agent,
for the benefit of the Secured Parties, shall have a valid, perfected and enforceable first priority or superpriority priming, as applicable,
lien on the Collateral to the extent set forth in the Interim Order, subject only to the Carve-Out and Liens of the type described in
Section 6.2(e), (f) and (j).

 

(m) 
Required Amendments and Consents. The Administrative Agent shall have received fully executed copies of the following, each
in form and substance reasonably satisfactory to the Administrative Agent: (i) an agreement from the general partner of BEN Group consenting
to (A) the pledge of the Credit Parties’ limited partnership interests in BEN Group under the Credit Documents and (B) any transfer
of such limited partnership interests, in whole or in part, by or on behalf of the Credit Parties (including by or through any Agent)
in connection with any enforcement by any Agent of its rights and remedies under the Credit Documents and the admission of the transferee
thereof as a limited partner of BEN Group; (ii) an amendment to or waiver of Section 4.11 of the limited partnership agreement of BEN
Group providing that a pledge or transfer described in clause (i)(A) or (B) above does not apply to the restrictions in such section of
such limited partnership agreement; (iii) a consent from all of the holders of FOXO’s class B common stock to (A) the pledge of
the Credit Parties’ preferred stock of FOXO under the Credit Documents and (B) any transfer of such stock, in whole or in part,
by or on behalf of the Credit Parties (including by or through any Agent) in connection with any enforcement by any Agent of its rights
and remedies under the Credit Documents; and (iv) an agreement from the general partner of BEN Holdings consenting to (A) the pledge of
the Credit Parties’ units in BEN Holdings under the Credit Documents and (B) any transfer of such units, in whole or in part, by
or on behalf of Credit Parties (including by or through any Agent) in connection with any enforcement by any Agent of its rights and remedies
under the Credit Documents and the admission of the transferee thereof as a limited partner of BEN Holdings.

 

(n) Wells Fargo Directions.
The Administrative Agent shall have received copies of directions that shall have been delivered from DLP IV to Wells Fargo Bank, National
Association (“Wells Fargo”), in form and substance satisfactory to the Administrative Agent in its reasonable discretion,
in which DLP IV shall have directed Wells Fargo to (i) deliver to the Administrative Agent all reports and notices and (ii) provide the
Administrative Agent with “read only” access to each account, in each case in relation to the DLP IV Credit Agreement.

 

(o) Interim Order. The
Interim Order Entry Date shall have occurred not later than five (5) calendar days following the Petition Date, and the Interim Order
shall be in full force and effect and shall not have been vacated or reversed, shall not be subject to a stay or appeal, and shall not
have been modified or amended in any respect without the prior written consent of the Administrative Agent. The Interim Order shall approve
and authorize the use of Cash Collateral and the DIP Facility, all provisions thereof and the priorities and liens granted under Sections
364(c) and (d), as applicable, of the Bankruptcy Code, and be in form and substance satisfactory to the Administrative Agent and the
Requisite Lenders in their reasonable discretion. The Credit Parties shall be in compliance with the terms of the Interim Order.

 

(p) Representations and Warranties.
The representations and warranties of each Credit Party set forth in the Credit Documents shall be true and correct in all respects on
and as of the Closing Date, except in the case of any such representation and warranty that expressly relates to an earlier date, in
which case such representation and warranty shall be so true and correct on and as of such earlier date.

 

(q) 
No Default. No Default or Event of Default shall exist, or would result from such Borrowing or from the application of the
proceeds thereof.

 

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(r) Additional Deliverables.
Administrative Agent shall have received, in form and substance satisfactory to it, duly executed copies of each of the other closing
deliverables described in the closing checklist attached as Exhibit H.

 

Each Lender, by delivering its
signature page to this Agreement, and funding its Loans on the Closing Date, shall be deemed to have acknowledged receipt of, and consented
to and approved or accepted or to be satisfied with, each Credit Document and each other document required to be approved by, acceptable
or satisfactory to any Agent, the Requisite Lenders or any other Lenders, as applicable, on the Closing Date.

 

3.2. Supplemental Initial Loan
Borrowing. The obligations of the Lenders to make a Supplemental Initial Loan hereunder shall not become effective until the date
on which each of the following conditions is satisfied (or waived in accordance with Section 10.5):

 

(a)
the Closing Date shall have occurred;

 

(b)
the date of any Supplemental Initial Loan Borrowing shall not be earlier than the thirty-sixth (36th) day after the Petition Date;

 

(c)
the Final Order Entry Date shall not have occurred;

 

(d)
the Borrower shall have paid to the Administrative Agent and the Lenders all fees and expenses and other amounts then due and payable
pursuant to the Credit Documents; and

 

(e)
all conditions set forth in Section 3.4 shall have been satisfied.

 

3.3. Delayed Draw Loan Borrowing.
The obligations of the Lenders to make a Delayed Draw Loan hereunder shall not become effective until the date on which each of the
following conditions is satisfied (or waived in accordance with Section 10.5):

 

(a)
the Closing Date shall have occurred;

 

(b)
the Final Order Entry Date shall have occurred;

 

(c)
the Borrower shall have paid to the Administrative Agent and the Lenders all fees and expenses and other amounts then due and payable
on or prior to the Final Order Entry Date pursuant to the Credit Documents;

 

(d)
all “second day orders” approving on a final basis any first day orders intended to be entered on or prior to the Final
Order Entry Date shall have been entered by the Bankruptcy Court, shall be in form and substance acceptable to the Administrative Agent
and the Requisite Lenders in their reasonable discretion, shall be in full force and effect, shall not have been vacated or reversed,
shall not be subject to a stay and shall not have been modified or amended other than as acceptable to the Administrative Agent in its
sole discretion;

 

(e) an order
approving the Administrative Agent’s option to consummate the DLP VII Transaction shall have been entered by the Bankruptcy
Court, in form and substance acceptable to the Administrative Agent and Requisite Lenders in their reasonable discretion, shall be
in full force and effect, shall not have been vacated or reversed, shall not be subject to a stay and shall not have been modified
or amended other than as acceptable to the Administrative Agent in its sole discretion; and

 

(f)
all conditions set forth in Section 3.4 shall have been satisfied.

 

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3.4. Each Credit Extension.
The obligation of each Lender to make any Credit Extension on any Credit Date, including the Closing Date and the date of any Borrowing
of a Delayed Draw Loan, is subject to the satisfaction (or waiver in accordance with Section 10.5) of the following conditions precedent:

 

(a)
the Administrative Agent shall have received a fully completed and executed Funding Notice and an executed certificate of an Authorized
Officer of the Borrower certifying, among other things, that the conditions precedent in Section 3.1 and this Section 3.4 and, as applicable
in the case of a Supplemental Initial Loan or Delayed Draw Loan Sections 3.2 or Section 3.3, as applicable, have been satisfied with respect
to such requested Credit Extension;

 

(b)
for any Credit Extension made after the Closing Date, the representations and warranties of the Borrower and each other Credit
Party contained in Section 4 and in each other Credit Document shall be true and correct in all material respects on and as of such Credit
Date; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be
true and correct in all respects as of such earlier date and to the extent such representations and warranties are already qualified by
materiality, they shall be true and correct in all respects;

 

(c)
at the time of and immediately after giving effect to such Credit Extension, no Default or Event of Default shall have occurred
and be continuing or would result therefrom;

 

(d)
(i) with regard to any Initial Loan, the Interim Order Entry Date shall have occurred and the Interim Order shall be in full force
and effect, shall not have been vacated or reversed, and shall not be subject to any stay and (ii) with regard to any Delayed Draw Loans,
the Final Order Entry Date shall have occurred and the Final Order shall be in full force and effect, shall not have been vacated or reversed,
and shall not be subject to any stay;

 

(e)
the Credit Parties shall be in compliance with the terms of the Interim Order or the Final Order, as applicable;

 

(f)    for any Credit Extension made after the Closing Date, the Delayed Draw Premium Reserve Account shall have been established and
be subject to a blocked deposit account control agreement in form and substance reasonably satisfactory to the Collateral Agent;

 

(g)
the Borrower shall have paid (or will pay with the proceeds of such disbursement) to the Administrative Agent and the Lenders all
fees and expenses (including legal fees and expenses and recording fees) and other amounts then due and payable on or prior to the date
of such Credit Extension pursuant to the Credit Documents and the Administrative Agent Fee Letter; and

 

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(h) no action shall
be pending or threatened (to the knowledge of the Lenders or the Credit Parties) against the Lenders or the Administrative Agent or Collateral
Agent arising out of, in connection with, or otherwise related to this Agreement, any of the other Credit Documents and/or any Transaction.

 

On the date of any Credit Extension, the Borrower
shall be deemed to have represented and warranted that the conditions specified in paragraphs (b) through (h) above have been satisfied.
Notwithstanding anything to the contrary contained herein, the funding of any Delayed Draw Loan shall be further conditioned upon the
Bankruptcy Court entering the Final Order on or prior to the Final Order Deadline.

 

SECTION 4. REPRESENTATIONS
AND WARRANTIES

 

In order to induce the Agents
and the Lenders to enter into this Agreement and to make each Credit Extension to be made thereby, each Credit Party represents and warrants
to each Agent, each Lender on the Closing Date and on each Credit Date as follows:

 

4.1. Organization; Requisite
Power and Authority; Qualification. Each of the Borrower and the Restricted Subsidiaries (a) is duly organized, validly existing
and in good standing under the laws of its jurisdiction of organization, (b) subject to the entry of the Orders and the terms thereof,
has all requisite power and authority (i) to own and operate its properties and to carry on its business and operations as now conducted
and (ii) in the case of the Credit Parties, subject to the entry of the Orders and the terms thereof, to execute and deliver the Credit
Documents to which it is a party and to perform the other Transactions to be performed by it and (c) is qualified to do business and
in good standing under the laws of every jurisdiction where its assets are located or where such qualification is necessary to carry
out its business and operations; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not
reasonably be expected to be materially adverse to the Borrower or any Restricted Subsidiary in any respect.

 

4.2. Equity Interests and Ownership.
Schedule 4.2 sets forth, as of the Closing Date, the name and jurisdiction of organization of, and the percentage of each
class of Equity Interests owned by the Borrower or any Subsidiary in, (a) each Subsidiary and (b) each joint venture and other Person
in which the Borrower or any Subsidiary owns any Equity Interests. The Equity Interests owned by any Credit Party in any Subsidiary or
Subject Entity have been duly authorized and validly issued and, to the extent such concept is applicable, are fully paid and non-assessable.
Except as set forth on Schedule 4.2, as of the Closing Date (i) there are no Equity Interests in any Restricted Subsidiary
outstanding that upon exercise, conversion or exchange would require the issuance by any Restricted Subsidiary of any additional Equity
Interests or other Securities exercisable for, convertible into, exchangeable for or evidencing the right to subscribe for or purchase
any Equity Interests in any Restricted Subsidiary and (ii) there are no existing options, warrants, calls, rights, commitments or other
agreements to which the Borrower or any Restricted Subsidiary is a party requiring the issuance by any Restricted Subsidiary of any additional
Equity Interests or other Securities exercisable for, convertible into, exchangeable for or evidencing the right to subscribe for or
purchase any Equity Interests in any Restricted Subsidiary.

 

4.3. Due Authorization. Subject
to the entry of the Orders and the terms thereof, the Transactions to be entered into by each Credit Party have been duly authorized
by all necessary corporate or other organizational and, if required, stockholder, shareholder or other equityholder action on the part
of such Credit Party.

 

4.4. No Conflict. The
Transactions do not and will not (a) other than violations arising as a result of the commencement of the Cases, subject to the
entry of the Orders and the terms thereof, and except as otherwise excused by the Bankruptcy Code, violate any applicable law,
including any order of any Governmental Authority, (b) violate the Organizational Documents of the Borrower or any Restricted
Subsidiary, (c) other than violations arising as a result of the commencement of the Cases and except as otherwise excused by the
Bankruptcy Code, violate or result (alone or with notice or lapse of time, or both) in a default under any Contractual Obligation of
the Borrower or any Restricted Subsidiary, or give rise to a right thereunder to require any payment, repurchase or redemption to be
made by the Borrower or any Restricted Subsidiary, or give rise to a right of, or result in, any termination, cancelation or
acceleration or right of renegotiation of any obligation thereunder, or (d) except for Liens created under the Credit
Documents, result in or require the creation or imposition of any Lien on any asset of the Borrower or any Restricted
Subsidiary.

 

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4.5. Governmental Approvals.
Subject to the Orders and the terms thereof, the Transactions do not and will not require any registration with, consent or approval
of, notice to, or other action by any Governmental Authority, except (a) such as have been obtained or made and are in full force and
effect, (b) filings and recordings with respect to the Collateral necessary to perfect Liens created under the Credit Documents
or (c) as could not reasonably be expected to be materially adverse to the Borrower or any Restricted Subsidiary in any respect.

 

4.6. Binding Obligation.
Subject to the Orders and the terms thereof, each Credit Document has been duly executed and delivered by each Credit Party that is a
party thereto and is, subject to the Orders and the terms thereof, the legally valid and binding obligation of such Credit Party, enforceable
against such Credit Party in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability
(other than with respect to the Debtors).

 

4.7. [Reserved].

 

4.8. No Material Adverse Effect.
Since the Petition Date, there has been no event or condition that has had, or would reasonably be expected to have, individually or
in the aggregate, a Material Adverse Effect, other than events and conditions disclosed to the Lenders in writing prior to the Closing
Date.

 

4.9. Adverse Proceedings.
Except for the Cases and as set forth on Schedule 4.9, there are no Adverse Proceedings that (a) either individually or
in the aggregate could reasonably be expected to result in a Material Adverse Effect or are not otherwise subject to the automatic stay
as a result of the Cases or (b) in any manner question the validity or enforceability of, or otherwise involve, (i) any of the Credit
Documents (including questioning the validity or enforceability of any Lien purported to be granted thereunder) or the Transactions or
(ii) either (x) any “Transaction Document” (as defined in the DLP IV Credit Agreement), including questioning the validity
or enforceability of any Lien purported to be granted thereunder, or any of the transactions thereunder or (y) any “Loan Document”
(as defined in the DLP VI Credit Agreement), including questioning the validity or enforceability of any Lien purported to be granted
thereunder, or any of the transactions thereunder, unless in the case of this clause (ii), such an Adverse Proceeding could not reasonably
be expected to result in an adverse determination.

 

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4.10. Payment of Taxes.
Except as otherwise permitted under Section 5.3, all federal and other Tax returns and reports of the Borrower and its Subsidiaries
required to be filed by any of them have been timely filed, and all federal and other Taxes (whether or not shown on such Tax
returns to be due and payable), and all assessments, fees and other governmental charges upon the Borrower and the Subsidiaries and
upon their properties, income, businesses and franchises that are due and payable, have been paid when due and payable, and there
are no claims being asserted in writing with respect to any Taxes, except (a) Taxes that are being contested in good faith by
appropriate proceedings and for which the Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves
with respect thereto to the extent required by GAAP, (b) Taxes that need not be paid pursuant to an order of the Bankruptcy Court or
pursuant to the Bankruptcy Code or (c) Taxes that do not individually or in the aggregate exceed $500,000.

 

4.11. Properties. The Borrower
and each Restricted Subsidiary has good, sufficient and marketable title to, or valid licensed rights in (in the case of Intellectual
Property), all of their assets, in each case except (a) assets disposed of as permitted by this Agreement and (b) Permitted Liens. As
of the Closing Date, no Credit Party or any Subsidiary thereof owns any real property located in the United States.

 

4.12. [Reserved].

 

4.13. No Defaults. No Default
or Event of Default has occurred and is continuing.

 

4.14. Investment Company Act.
None of the Credit Parties is required to be registered as an “investment company” under the Investment Company Act of 1940.

 

4.15. Federal Reserve Regulations.
(a) None of the Borrower or the Subsidiaries is engaged principally, or as one of its important activities, in the business of purchasing
or carrying Margin Stock or extending credit for the purpose of purchasing or carrying Margin Stock.

 

(b) 
No portion of the proceeds of any Credit Extension will be used, directly or indirectly, for any purpose that entails a violation
(including on the part of any Lender) of any of the regulations of the Board of Governors, including Regulations U and X.

 

4.16. Employee Benefit Plans.
(a) The Borrower, each Restricted Subsidiary and each of their respective ERISA Affiliates is in compliance in all material respects
with all applicable provisions and requirements of ERISA and the Internal Revenue Code and the regulations and published interpretations
thereunder with respect to each Employee Benefit Plan, and has performed in all material respects all its obligations under each Employee
Benefit Plan, and (b) each Employee Benefit Plan which is intended to qualify under Section 401(a) of the Internal Revenue Code has received
a favorable determination letter or opinion letter from the IRS indicating that such Employee Benefit Plan is so qualified. No ERISA
Event or Foreign Plan Event has occurred or is reasonably expected to occur that have had, or could reasonably be expected to result,
individually or in the aggregate, in material liability to the Borrower or any Restricted Subsidiary. None of the Borrower or any of
its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by
Section 3(42) of ERISA).

 

4.17. [Reserved].

 

4.18. Compliance with Laws.
Except as excused by the Bankruptcy Code or could not reasonably be expected to result in a Material Adverse Effect, the Borrower and
each Subsidiary is in compliance with all applicable laws, including all orders and other restrictions imposed by any Governmental Authority,
in respect of the conduct of its business and the ownership and operation of its properties (including compliance with all applicable
Environmental Laws).

 

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4.19. Disclosure. None
of the Initial DIP Budget, any other documents, certificates or statements or any other written information (other than financial
projections (including financial estimates, budgets, forecasts and other forward-looking information) and information of general
economic or industry-specific nature) furnished to any Agent or any Lender by or on behalf of the Borrower or any Subsidiary in
connection with the negotiation of or pursuant to this Agreement or any other Credit Document or otherwise in connection with the
transactions contemplated hereby or thereby, when taken as a whole, contains any untrue statement of a material fact or omits to
state a material fact necessary in order to make the statements contained therein not materially misleading in light of the
circumstances under which they were made (after giving effect to all supplements theretofore provided); provided that, (a)
with respect to financial projections, financial estimates, budgets, forecasts and other forward-looking information, the Credit
Parties represent only that such information was prepared in good faith based upon estimates and assumptions believed by the Credit
Parties to be reasonable at the time such information is so furnished (it being understood that such information is not a guarantee
of financial or other performance and actual results may differ therefrom and that such differences may be material) and (b) the
Credit Parties are not providing any representations or warranties on the accuracy of any premium payments included on any policy
illustration or generated by any actuarial model or the likelihood of increases in any premium payments, any life expectancy
estimates contained in life expectancy reports or otherwise, or any other information prepared or provided by third parties
(including an insured person, an insured person’s physician, or an insurer). Prior to the date of this Agreement, the Borrower
has provided the Administrative Agent with a true, complete and correct copy of each engagement letter that the Borrower is a party
to with PJT or FTI. There are no facts known to the Borrower or any Subsidiary (other than matters of a general economic or industry
specific nature) that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect and that
have not been disclosed in such documents, certificates, statements or other information.

 

4.20. [Reserved].

 

4.21. Sanctioned Persons; Anti-Corruption
Laws; PATRIOT Act. None of the Borrower or any of its Subsidiaries or any of their respective directors, officers or, to the knowledge
of the Borrower, employees or Affiliates is a Sanctioned Person. Each of the Borrower and its Subsidiaries and their respective directors,
officers, and, to the knowledge of the Borrower, employees or Affiliates is in compliance, in all material respects, with (a) all
Sanctions, (b) the United States Foreign Corrupt Practices Act of 1977, the Bribery Act 2010 of the United Kingdom and any other applicable
anti-bribery or anti-corruption laws, rules, regulations and orders (collectively, “Anti-Corruption Laws”) and (c) the
PATRIOT Act and any other applicable terrorism and money laundering laws, rules, regulations and orders. No part of the proceeds of the
Loans will be used, directly or indirectly, (i) for the purpose of financing any activities or business of or with any Person or in any
country or territory that at such time is the subject of any Sanctions, (ii) for any payments to any governmental official or employee,
political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order
to obtain, retain or direct business or obtain any improper advantage, in each case in violation of any Anti-Corruption Law or (iii)
in any manner that would result in the violation of any Sanctions applicable to any party hereto.

 

4.22. Policies; DLP IV Credit
Agreement. (a) Except as set forth on Schedule 4.22(a)-1, to the knowledge of the Borrower or any of its Subsidiaries,
none of the life insurance policies owned by DLP IV or DLP VI is in a state of grace or lapse pending or a similar state, or has lapsed,
in each case as of the Petition Date. None of the life insurance policies owned by DLP IV is subject to a collateral assignment in favor
of any Person other than the administrative agent and/or lenders under the DLP IV Credit Agreement. No Person is an irrevocable beneficiary
of any life insurance policy owned by DLP IV, other than as set forth on Schedule 4.22(a)-2 or the administrative agent
and/or lenders under the DLP IV Credit Agreement as set forth in the Letter Agreement (as defined in the DLP IV Credit Agreement), a
true, correct and complete copy of which the Borrower provided to the Administrative Agent prior to the Petition Date.

 

(b) The aggregate principal
amount of Indebtedness outstanding under the DLP IV Credit Agreement as of the Petition Date was $[_____]. The amount that DLP IV
would have been required to pay to satisfy all of its obligations under the “Transaction Document” (as defined in the
DLP IV Credit Agreement as in effect at the time that this Agreement is executed) as of the Petition Date is not greater than
$[_____].

 

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4.23.
Cases; Orders.

 

(a) 
The Cases were commenced on the Petition Date in accordance with applicable laws and notice thereof was given for (i) the motion
seeking approval of the Credit Documents and the Interim Order and, when applicable, Final Order, (ii) the hearing for the entry of the
Interim Order, and (iii) the hearing for the entry of the Final Order (provided that notice of the final hearing will be given as soon
as reasonably practicable after such hearing has been scheduled).

 

(b) 
After the entry of the Interim Order, and pursuant to and to the extent permitted in the Interim Order and the Final Order, (i)
the Obligations will constitute allowed superpriority administrative expense claims in the Cases having priority over any and all other
administrative expenses and claims of any kind or nature whatsoever, specified in or ordered pursuant to Section 105, 326, 327, 328, 330,
331, 361, 362, 363, 364, 365, 503, 506, 507(a), 507(b), 546, 552, 726, 1113 or 1114 or any other provisions of the Bankruptcy Code or
otherwise, as provided under Section 364(c)(1) of the Bankruptcy Code, and having full recourse against all assets of the Debtors, including,
subject to the Final Order, Avoidance Action Proceeds, subject only to the Carve-Out (the “Superpriority Claims”) and
(ii) in respect of any property owned by any Debtor other than Excluded Assets, to the maximum extent permitted by law, the Obligations
will be secured by a valid, binding, continuing, enforceable, fully-perfected Lien on all of the Collateral pursuant to Sections 364(c)(2),
(c)(3) and (d), subject only to the Carve-Out and Liens of the type described in Sections 6.2(e), (f) and (j).

 

(c) 
The Interim Order (with respect to the period on and after entry of the Interim Order and prior to entry of the Final Order) or
the Final Order (with respect to the period on and after entry of the Final Order), as the case may be, is in full force and effect and
has not been reversed, stayed (whether by statutory stay or otherwise), vacated, or, without the Administrative Agent’s consent,
modified or amended. The Credit Parties are in compliance in all respects with the Interim Order (with respect to the period on and after
entry of the Interim Order and prior to entry of the Final Order) or the Final Order (with respect to the period on and after entry of
the Final Order).

 

(d) 
Notwithstanding the provisions of Section 362 of the Bankruptcy Code, and subject to the applicable provisions of the Interim Order
or the Final Order, as the case may be, upon the Termination Date (whether by acceleration or otherwise) of any of the Obligations, the
Administrative Agent and Lenders shall be entitled to immediate payment of such Obligations and to enforce the remedies provided for hereunder
or under applicable laws.

 

(e) 
To the best of the Credit Parties’ knowledge, the stipulations of the Credit Parties in each of the Orders are true, accurate
and correct in all respects.

 

(f)    
Subject to the applicable provisions of the Interim Order or the Final Order, as the case may be, the Obligations shall not be
subject to setoff or recoupment or any such rights under Bankruptcy Code section 553 or otherwise with respect to any claim the Credit
Parties may have against the Lenders arising on or before the Petition Date.

 

4.24. Approved Budget. The
Debtors have not failed to disclose to the Administrative Agent and the Lenders any material assumptions with respect to the Approved
Budget and, as of the Closing Date, affirms the reasonableness of the assumptions in the Approved Budget.

 

4.25.
 Senior Debt. The Obligations constitute “Senior Debt” as defined in the Indenture.

 

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SECTION 5. AFFIRMATIVE
COVENANTS

 

Until the Commitments shall
have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in
full, each Credit Party covenants and agrees with the Agents and the Lenders that:

 

5.1. Financial Statements and
Other Reports. The Borrower will deliver to the Administrative Agent and, where applicable, to the Lenders:

 

(a) 
Monthly Financial Statements. As soon as available, and in any event within thirty (30) days after the end of each
fiscal month (beginning with the fiscal month ended April 30, 2022), the consolidated balance sheet of the Borrower and its Subsidiaries
as of the end of such fiscal month and the related consolidated statements of income or operations of the Borrower and its Subsidiaries
for such fiscal month and (in the case of statements of income or operations) for the period from the beginning of the then current Fiscal
Year to the end of such fiscal month, setting forth in each case in comparative form the corresponding figures for the corresponding periods
of (or, in the case of the balance sheet, as of the end of) the previous Fiscal Year, together with a Financial Officer Certification
with respect thereto;

 

(b) 
Statements of Reconciliation after Change in Accounting Principles. If, as a result of any change in GAAP or in the application
thereof since the date of the most recent balance sheet delivered pursuant to Section 5.1(a), the consolidated financial statements of
the Borrower delivered pursuant to Section 5.1(a) will differ in any material respect from the consolidated financial statements that
would have been delivered pursuant to such Section had no such change occurred, then, together with the first delivery of such financial
statements after such change, one or more statements of reconciliation specifying in reasonable detail the effect of such change on such
financial statements, including those for the prior period;

 

(c) 
Notice of Default and Material Adverse Effect. Promptly upon any officer of the Borrower or any Restricted Subsidiary obtaining
knowledge of any event or condition set forth below, a certificate of an Authorized Officer of the Borrower setting forth the details
of such event or condition and any action the Borrower or any Restricted Subsidiary has taken, is taking or proposes to take with respect
thereto:

 

(i) 
the occurrence of any Default or Event of Default; or

 

(ii) 
any event or condition that has had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect;

 

(d) 
Notice of Adverse Proceedings. Promptly upon any officer of the Borrower or any Restricted Subsidiary obtaining knowledge
of (i) any Adverse Proceeding, whether pending or threatened in writing, or (ii) any material and adverse development in any pending or
threatened Adverse Proceeding referred to in clause (i) above, in each case where such development has not previously been disclosed in
writing by the Borrower to the Administrative Agent and the Lenders, a certificate of an Authorized Officer of the Borrower setting forth
the details of such pending or threatened Adverse Proceeding or development;

 

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(e) Shared Services
Agreement. Prompt written notice of the occurrence of (i) any failure of Ben or its designee to provide Services (as defined in
the Shared Services Agreement) as and when required under the Shared Services Agreement, (ii) any failure of GWG to pay the Service
Fee (as defined in the Shared Services Agreement) as and when due under the Shared Services Agreement, (iii) any Audit (as defined
in the Shared Services Agreement) under the Shared Services Agreement, (iv) the termination (or the giving of notice to terminate)
the Shared Services Agreement or (v) any other material development, change or default under the Shared Services Agreement.

 

(f) SPV Credit Facilities
Reporting and Notices. (i) Simultaneously with the delivery of any report or notice under (A) Sections 6.1, 6.2 and 6.3 of the DLP
VI Credit Agreement or (A) Section 9.1(d) of the DLP IV Credit Agreement, copies of any such report or notice, (ii) simultaneously upon
the receipt of any written notice given under, or otherwise in connection with, the DLP IV Credit Agreement (including, without limitation,
(x) any notice or other communication from any Person that services any policy owned by DLP IV and (y) default notices, reservation of
rights letters and similar correspondence), copies of any such notice and (iii) with respect to each account relating to the DLP IV Credit
Agreement or otherwise of DLP IV, unless the Administrative Agent then has “read only” or other access to such account, (A)
a copy of a cash balance or other similar report with respect to such account, on each Business Day, and (B) a copy of a monthly transaction
history report with respect to such account, on the first Business Day following the end of each month on which such report is available;

 

(g) 
Wells Notice. Promptly upon the issuance by the SEC of a Wells Notice to any Credit Party or Restricted Subsidiary or any
of their respective shareholders, a copy of such notice;

 

(h) 
Information Regarding Credit Parties and Collateral. Thirty (30) days prior written notice of any change in (i) any
Credit Party’s legal name, (ii) any Credit Party’s form of organization, (iii) any Credit Party’s jurisdiction
of organization or incorporation, (iv) the location of the chief executive office of any Credit Party and (v) any Credit Party’s
Federal Taxpayer Identification Number or state organizational identification number;

 

(i) 
[Reserved];

 

(j) 
Filed or Distributed Information. Promptly upon their becoming available, copies of all regular and periodic reports and
all registration statements and prospectuses, if any, filed by the Borrower or any Restricted Subsidiary with the SEC or any Governmental
Authority performing similar functions;

 

(k) 
Notice of Modifications of Junior Indebtedness Documents. Promptly upon the effectiveness thereof, notice of any execution
and delivery of any credit agreement, indenture or other agreement or instrument evidencing or governing the rights of the holders of
any Junior Indebtedness or of any amendment, waiver or other modification of any such credit agreement, indenture or other agreement or
instrument, together with a copy thereof;

 

(l) 
Other Information. Promptly after any request therefor, such other information regarding the business, operations, assets,
liabilities (including contingent liabilities) and condition (financial or otherwise) of the Borrower, any Subsidiary or any Subject Entity,
or compliance with the terms of any Credit Document, including access to the Borrower’s books, records, personnel and advisors,
in each case, as the Administrative Agent or any Lender (through the Administrative Agent) may reasonably request; and

 

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(m) 
Updated DIP Budget.

 

(i) Beginning on the Thursday
after the end of the fourth full calendar week following the Petition Date (the “Initial Reporting Date”) and on
the corresponding Thursday following the end of every fourth calendar week following the Initial Reporting Date, the Borrower shall
deliver to the Administrative Agent an updated DIP Budget (each, a “Proposed Budget”), together with a
reconciliation for the periods included in the prior Approved Budget which such updated DIP Budget shall be in form and substance
satisfactory to the Administrative Agent in its reasonable discretion; provided that the Administrative Agent shall have five
(5) Business Days to approve any revised Proposed Budget and upon such approval, it shall become the Approved Budget; provided, further,
that the Administrative Agent shall be deemed to have approved such Proposed Budget and such Proposed Budget shall become the
Approved Budget unless the Administrative Agent shall have objected to such Proposed Budget prior to 11:59 p.m. on the fifth
Business Day succeeding the delivery of such Proposed Budget on the basis of such Proposed Budget not being based on reasonable
assumptions, as being inconsistent with the terms, conditions and/or covenants of the Loan or it being based on information that is
incorrect in any material respect, in which case the Approved Budget will be as agreed reasonably and in good faith by the
Administrative Agent and the Borrower.

 

(ii) 
Beginning on the Initial Reporting Date, and on each Thursday thereafter that is the two (2)-week anniversary of the Initial Reporting
Date (each such date, the “Bi-Weekly Variance Testing Date” and each such two (2)-week period the “Bi-Weekly
Variance Testing Period”), the Borrower shall deliver to the Administrative Agent a variance report detailing, by line item,
(A) the actual disbursements of the Borrower and actual receipts (on an aggregated basis) and operating disbursements (on an aggregated
basis for all operating disbursement line items and excluding payment of professional fees, and Obligations made pursuant to the Loan
including fees and expenses of Term Loan Lender Advisors) for each four-week period prior to the Bi-Weekly Variance Testing Date for such
period as reflected in the applicable Approved Budget for such Bi-Weekly Variance Testing Period, as set forth in the applicable Approved
Budget (a “Bi-Weekly Variance Report”).

 

5.2. Existence, Licenses, Etc.
The Borrower and each Restricted Subsidiary will at all times preserve and keep in full force and effect (a) its existence and (b)
all material rights, franchises, licenses and permits necessary for the ordinary conduct of the business of the Borrower and the Restricted
Subsidiaries; provided that the foregoing shall not prohibit any transaction permitted under Section 6.8.

 

5.3. Payment of Taxes. In
accordance with the Bankruptcy Code and subject to any required approval by the Bankruptcy Court (it being understood that no Debtor
shall be obligated to make any payments hereunder that may, in its reasonable judgment, result in a violation of any applicable law,
including the Bankruptcy Code, without an order of the Bankruptcy Court authorizing such payments), the Borrower and each Subsidiary
will file all material Tax returns, and pay all federal and other material post-petition Taxes imposed upon it or any of its properties
prior to the time when any penalty or fine shall be incurred with respect thereto; provided that no such Tax need be paid solely
to the extent that it is being contested in good faith by appropriate proceedings promptly instituted and diligently conducted, except
that such exception shall apply solely so long as an adequate reserve or other appropriate provision, as shall be required in conformity
with GAAP, shall have been made therefor, and in the case of a Tax that has or may become a Lien against any of the Collateral, such
contest proceedings conclusively operate to stay the sale of any portion of the Collateral to satisfy such Tax.

 

5.4. [Reserved].

 

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5.5. Insurance. The
Borrower and the Restricted Subsidiaries will maintain or cause to be maintained, with financially sound and reputable insurance
companies, such public liability insurance, third-party property damage insurance, business interruption insurance and casualty
insurance with respect to liabilities, losses or damage in respect of the assets and businesses of the Borrower and the Restricted
Subsidiaries (x) as may customarily be carried or maintained under similar circumstances by Persons of established reputation
engaged in the same or similar businesses operating in the same or similar locations, in each case in such amounts (with no greater
risk retention), covering such risks and otherwise on such terms and conditions as shall be customary for such Persons and (y) as
may otherwise be required by the Administrative Agent acting in its commercially reasonable judgment. Each such policy of insurance
maintained by or on behalf of the Credit Parties shall (a) in the case of liability insurance policies, name the Collateral Agent,
for the benefit of the Secured Parties, as an additional insured thereunder and (b) in the case of casualty insurance policies,
contain a lender’s loss payable clause or endorsement, reasonably satisfactory to the Administrative Agent, that names the
Collateral Agent, for the benefit of the Secured Parties, as the lender’s loss payee thereunder, and shall provide that it
shall not be canceled or not renewed (i) by reason of nonpayment of premium upon not less than ten days’ prior written notice
thereof by the insurer to the Collateral Agent (giving the Collateral Agent the right to cure defaults in the payment of premiums)
or (ii) for any other reason upon not less than thirty days’ (or such shorter number of days as may be agreed to by the
Collateral Agent or as may be the maximum number of days permitted by applicable law) prior written notice thereof by the insurer to
the Collateral Agent.

 

5.6. Books and Records; Inspections.
The Borrower and each Restricted Subsidiary will keep proper books of record and accounts in which full, true and correct entries in
conformity in all respects with GAAP and all other applicable law are made of all dealings and transactions in relation to its business
and activities. The Borrower and each Restricted Subsidiary will permit the Administrative Agent or any Lender (pursuant to a request
made through the Administrative Agent) (or their authorized representatives, agents or advisors) to visit and inspect any of its properties,
to examine, copy and make extracts from its financial and accounting records and to discuss its business, operations, assets, liabilities
(including contingent liabilities) and condition (financial or otherwise) with its officers and independent registered public accounting
firm, all upon reasonable notice and at such reasonable times during normal business hours and as often as may reasonably be requested;
provided, however, that, so long as no Event of Default has occurred and is continuing, the Borrower’s obligation
to reimburse the Administrative Agent for expenses incurred in connection with the inspections performed by the Administrative Agent
of the Credit Parties in any single calendar year, including expenses incurred in the review of the books and records of the Credit Parties
in connection therewith, shall not exceed $50,000; provided, further, that so long as no Event of Default has occurred
and is continuing, the Administrative Agent shall not perform audits more frequently than twice in any twelve-month period. Notwithstanding
anything to the contrary in this Section 5.6, the Borrower shall not be required to disclose, permit the inspection, examination or making
copies or abstracts of, or discussion of, any document, information or other matter that (i) constitutes non-financial trade secrets
or non-financial proprietary information, (ii) in respect of which disclosure to the Administrative Agent or the Lender (or their respective
representatives or independent contractors) is prohibited by applicable law or (iii) is subject to attorney-client or similar privilege
or constitutes attorney work-product.

 

5.7. [Reserved].

 

5.8. Compliance with Laws.
The Borrower and each Restricted Subsidiary will comply with all applicable laws (including all Environmental Laws and all orders of
any Governmental Authorities) except in such instances in which (i) such requirement of law is being contested in good faith by appropriate
proceedings diligently conducted or (ii) failure to comply with such requirements could not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect.

 

5.9. [Reserved].

 

5.10. [Reserved].

 

5.11. [Reserved].

 

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5.12. Further Assurances.
Each Credit Party will execute any and all further documents, financing statements, agreements and instruments, and take any and all
further actions that may be required under any applicable law, or that the Administrative Agent, the Collateral Agent or the Requisite
Lenders may reasonably request, to effectuate the provisions of the Credit Documents, all at the expense of the Credit Parties. Any after-acquired
assets shall automatically be subject to fully perfected first priority Liens on, and security interests in, all right, title and interest
of the Credit Parties, pursuant to and as described in Section 2.26 and the Interim Order or the Final Order, as applicable. The Borrower
will provide to the Administrative Agent, the Collateral Agent and the Requisite Lenders, from time to time upon request, evidence reasonably
satisfactory to the Administrative Agent, the Collateral Agent or the Requisite Lenders, as applicable, as to the perfection and priority
of the Liens created or intended to be created by the Collateral Documents.

 

5.13. Delayed Draw Premium Reserve
Account. The Borrower and the Restricted Subsidiaries shall, prior to any Borrowing of any Delayed Draw Loan and at all times thereafter,
cause any Delayed Draw Premium Reserve Account to be subject to a blocked deposit account control agreement that is in form and substance
reasonably satisfactory to the Collateral Agent. It is agreed that the Borrower shall be restricted from using funds in the Delayed Draw
Premium Reserve Account for any purpose other than paying premiums on policies owned by DLP IV in accordance with the Approved Budget
(with funds being transferred from the Delayed Draw Premium Reserve Account directly to the applicable account at DLP IV).

 

5.14. Use of Proceeds. (a)
The Borrower and the other Restricted Subsidiaries will use the proceeds of the Loans made hereunder solely for the purposes set forth
in Section 2.5 and in compliance with Section 4.15(b).

 

(b) 
The Borrower will not request any Loans and no part of the proceeds of the Loans will be used, directly or indirectly, (i) for
the purpose of financing any activities or business of or with any Person or in any country or territory that at such time is the subject
of any Sanctions, (ii) for any payments to any governmental official or employee, political party, official of a political party, candidate
for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper
advantage, in violation of any Anti-Corruption Law or (iii) in any manner that would result in the violation of any Sanctions Laws applicable
to any party hereto.

 

(c) 
The Borrower shall make capital contributions to DLP IV under Section 6.6(c) using the funds in the Delayed Draw Premium Reserve
Account and shall cause DLP IV to use such funds to pay premiums that are required to be paid, or that otherwise are paid in accordance
with the Approved Budget, on the life insurance policies that DLP IV owns.

 

5.15. Post-Closing Matters.
The Credit Parties shall satisfy each of the requirements set forth in Schedule 5.15 on or before the date specified in
Schedule 5.15 for each such requirement, or such later date as may be agreed to by the Administrative Agent in its reasonable
discretion.

 

5.16. Bankruptcy Related Matters.
The Borrower will and will cause each of the Guarantors and Restricted Subsidiaries to

 

(a) cause all proposed (i)
“first day” orders, (ii) “second day” orders, (iii) orders related to or affecting the Loans and the Credit
Documents, any other financing or use of Cash Collateral, any sale or other disposition of Collateral outside the ordinary course,
cash management, adequate protection, any plan of reorganization and/or any disclosure statement related thereto, (iv) orders
concerning the financial condition of the Borrower or any of its Subsidiaries or other Indebtedness of the Credit Parties or seeking
relief under section 363, 365, 1113 or 1114 of the Bankruptcy Code or section 9019 of the Bankruptcy Rules, and (v) orders
establishing procedures for administration of the Cases or approving significant transactions submitted to the Bankruptcy Court, in
each case, proposed by the Debtors to be in accordance with and permitted by the terms of this Agreement and reasonably acceptable
to the Requisite Lenders in all respects, it being understood and agreed that the forms of orders approved by the Requisite Lenders
prior to the Petition Date are in accordance with and permitted by the terms of this Agreement and are reasonably acceptable in all
respects;

 

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(b) 
comply in all respects with each order entered by the Bankruptcy Court in connection with the Cases;

 

(c) 
comply in a timely manner in all material respects with their obligations and responsibilities as debtors-in-possession under the
Bankruptcy Code, the Bankruptcy Rules, the Interim Order and the Final Order, as applicable, and any other order of the Bankruptcy Court;

 

(d) 
[reserved];

 

(e) 
provide the Administrative Agent and the Lenders with reasonable access to non-privileged information (including historical information)
and relevant personnel regarding strategic planning, cash and liquidity management, operational and restructuring activities;

 

(f)    
(i) deliver to the Administrative Agent (for distribution to the Lenders) and to counsel to the Administrative Agent promptly as
soon as available but not later than two (2) Business Days (or as soon as reasonably practicable) prior to filing, copies of pleadings,
motions, applications, orders, financial information and other documents to be filed by or on behalf of the Credit Parties with the Bankruptcy
Court in the Cases, or distributed by or on behalf of the Credit Parties to any official or unofficial committee appointed or appearing
in the Cases or any other party in interest related to a plan, a disclosure statement, plan exclusivity, assumption or rejection of executory
contracts and unexpired leases, key employee incentive or retention plans, and each such pleading motion (provided that, in the case of
the Cash Management Order, the Final Order, or in connection with this Agreement and the DIP Facility, such copies shall be provided not
later than one (1) Business Day prior to filing) and (ii) use best efforts to deliver any other pleading, motion, application, order,
financial information or other document as set forth in, and with the timing set forth in, preceding clause (i) to the Administrative
Agent (for distribution to the Lenders) and to counsel to the Administrative Agent;

 

(g) 
if not otherwise provided through the Bankruptcy Court’s electronic docketing system, as soon as available, deliver to the
Administrative Agent (for distribution to the Lenders) and to counsel to the Administrative Agent and Lenders promptly as soon as available,
copies of all final pleadings, motions, applications, orders, financial information and other documents filed by or on behalf of the Credit
Parties with the Bankruptcy Court in the Cases;

 

(h) 
not more than once per week, the Borrower shall make its senior management and its financial advisor available via teleconference
to discuss the financial position, cash flows, variances and operations of the Borrower and its Subsidiaries; and

 

(i) 
maintain their cash management system as it existed prior to the Petition Date for the benefit of the Lenders, with any changes
made in accordance with the Cash Management Order with the prior written consent of the Administrative Agent.

 

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5.17. DLP VII Transaction; Competing
Transaction.

 

(a) 
 During the DLP VII Option Period (but only on or after the Final Order Entry Date), the Administrative Agent may by written notice
to the Borrower exercise the option to consummate the DLP VII Transaction on the economic terms set forth on Schedule 5.17.
The Borrower and the Administrative Agent shall cooperate in good faith to modify the mechanics of the DLP VII Transaction described on
Exhibit I to the extent doing so is necessary to implement the DLP VII Transaction; provided, however, neither
the Borrower nor the Administrative Agent shall be required to agree to any such modification of such mechanics that alters any of the
economic or other terms of the DLP VII Transaction, including, unless waived by the Administrative Agent in its sole discretion, that
the transfer of the life settlement portfolios described on Schedule 5.17 directly or indirectly to the DLP VII Borrower
are to occur pursuant to Section 363 of the Bankruptcy Code. Without limiting the foregoing, the Final Order Deadline shall be automatically
extended to June 24, 2022 (or such later date as the Borrower and the Administrative Agent may agree in their respective reasonable discretion
from time to time) if the Bankruptcy Court does not enter the Final Order within thirty-five (35) days of the Bankruptcy Court’s
entry of the Interim Order; provided that, the Administrative Agent and the Borrower may mutually agree to not extend the Final Order
Deadline.

 

(b) 
If the Bankruptcy Court enters the Final Order and the DLP VII Option Period expires without the Administrative Agent having exercised
the DLP VII Option, the Borrower shall use its best efforts to take one or more of the following actions that in all cases are sufficient
to generate an aggregate amount of cash proceeds necessary to at least repay all of the outstanding Loans, and pay all of the other Obligations,
prior to the Stated Maturity Date: (i) sell any or all of its interest in DLP IV or DLP Holdings VI; (ii) cause DLP Holdings VI to sell
any or all of its interest in DLP VI; (iii) cause DLP IV to sell any or all of its life settlement portfolio in accordance with the DLP
IV Credit Agreement (and provided that the proceeds of any such sale are applied in accordance with the terms of the DLP IV Credit Agreement)
or to refinance the DLP IV Credit Agreement; (iv) refinance the Obligations under this Agreement and the other Loan Documents; or (v)
cause DLP VI to sell any or all of its life settlement portfolio in accordance with the DLP VI Credit Agreement (and provided that the
proceeds of any such sale are applied in accordance with the terms of the DLP VI Credit Agreement) or to refinance the DLP VI Credit Agreement;
provided, that, no such sale described in any of the foregoing clauses (i) through (v) may be undertaken if doing so would constitute
an event of default (or constitute an event or condition that with the giving of any notice, the passage of time, or both, would be an
event of default) under either SPV Credit Facility unless such sale results in payment in full of all obligations (other than contingent
obligations that survive termination) under, and release of liens securing, such SPV Credit Facility.

 

(c) 
If the Borrower or any Affiliate thereof, or any Subject Entity, becomes substantially engaged in the negotiation of any Competing
Transaction during the DLP VII Option Period (it being understood and agreed that, without limiting the meaning of substantial engagement,
such a Person shall be deemed to be substantially engaged in the negotiation of a Competing Transaction if such Person responds in writing
to an offer or proposal (including a conditional offer or proposal) that has been received with respect to such Competing Transaction),
the Borrower shall promptly thereafter advise the Administrative Agent in writing (which may be by email) of such Competing Transaction,
including a general description thereof.

 

5.18. Senior Debt. The Obligations
shall at all times constitute “Senior Debt” as defined in the Indenture.

 

5.19. DLP IV Credit
Agreement. The Borrower, on its own behalf and on behalf of its Subsidiaries, shall provide (i) advance written notice of any
amendment, waiver, consent, supplement or other modification to the DLP IV Credit Agreement (in each case, including a copy of such
proposed amendment, waiver, consent, supplement or other modification, as the case may be), as soon as reasonably practicable but in
all cases at least twenty-four (24) hours prior to the execution thereof, and (ii) any material notice or update to the DLP IV
Credit Agreement, as soon as reasonably practicable but in all cases at least twenty-four (24) hours following the receipt or
delivery of such notice or update, as the case may be.

 

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SECTION 6. NEGATIVE
COVENANTS

 

Until the Commitments shall
have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in
full, each Credit Party covenants and agrees with the Agents and the Lenders that:

 

6.1. Indebtedness. Neither
the Borrower nor any Restricted Subsidiary will, directly or indirectly, incur or remain liable with respect to any Indebtedness, except:

 

(a) 
Indebtedness created under this Agreement and the other Credit Documents;

 

(b) 
Indebtedness created under the Intercompany Notes in an aggregate principal amount not to exceed the aggregate principal amount
as of the Petition Date;

 

(c) 
Indebtedness created under the Indenture in an aggregate principal amount not to exceed the aggregate principal amount as of the
Petition Date;

 

(d) 
Indebtedness existing on the date hereof and set forth on Schedule 6.1;

 

(e) 
Indebtedness in respect of netting services, overdraft protections and otherwise arising from treasury, depository and cash management
services or in connection with any automated clearing-house transfers of funds, overdraft or any similar services, in each case in the
ordinary course of business;

 

(f)    
to the extent constituting Indebtedness, all premiums (if any), interest (including post-petition interest), fees, expenses, charges
and additional or contingent interest on obligations described in this Section 6.1;

 

(g) 
Indebtedness under (i) the DLP VI Credit Agreement in an aggregate principal amount not to exceed the aggregate principal amount
thereunder as of the Petition Date, plus, without limiting Section 8.1(m), additional principal amounts funded under the DLP VI Credit
Agreement after the date hereof in order to pay premiums on any one or more life insurance policies owned by DLP VI and (ii) the DLP IV
Credit Agreement in an aggregate principal amount thereunder not to exceed the aggregate principal amount as of the Petition Date or,
if lesser, the amount set forth in the first sentence of Section 4.22(b), plus (in the case of this clause (ii)), without limiting Section
8.1(m), additional principal amounts funded under the DLP IV Credit Agreement after the date hereof in order to pay premiums on any one
or more life insurance policies owned by DLP IV; and

 

(h) 
intercompany Indebtedness permitted under Section 6.6(d).

 

6.2. Liens. Neither the Borrower
nor any Restricted Subsidiary will, directly or indirectly, incur or permit to exist any Lien on or with respect to any asset of the
Borrower or any Restricted Subsidiary, whether now owned or hereafter acquired, except:

 

(a) 
Liens created under this Agreement and the other Credit Documents;

 

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(b) 
 any Lien on any asset of the Borrower or any Restricted Subsidiary existing on the date hereof and set forth on Schedule 6.2;

 

(c) 
Liens securing Indebtedness permitted under Section 6.1(c);

 

(d) 
Liens securing Indebtedness permitted under Section 6.1(g);

 

(e) 
Liens for state, municipal or other local taxes (i) not yet due or as to which the period of grace (not to exceed thirty (30) days),
if any, related thereto has not expired or (ii) which are being contested in good faith and by appropriate proceedings if adequate reserves
are maintained to the extent required by GAAP;

 

(f) materialmen’s, warehousemen’s,
mechanics’, carriers’, workmen’s and repairmen’s Liens and other similar Liens, arising by operation of law in
the ordinary course of business for sums that are (i) not overdue or are being contested in good faith and (ii) do not, individually
or in the aggregate, materially impair the use thereof in the operation of the business of the Borrower or any of its Restricted Subsidiaries;

 

(g) 
with respect to any insurance policy entered into in the ordinary course of the Borrower’s or such Subsidiary’s business,
any customary right of any insured under such policy or the estate thereof, or of any former owner or beneficiary of such policy, to receive
any portion of the death benefits payable under such policy in excess of the face amount of such policy that is in the nature of a double
indemnity or similar excess benefit payable thereunder under applicable laws or the express terms of such policy;

 

(h) 
with respect to any insurance policy entered into in the ordinary course of the Borrower’s or such Subsidiary’s business,
any customary right of any irrevocable beneficiary named in respect of such policy on or prior to the date hereof or any right, existing
on or prior to the date hereof, of any Person other than the Borrower or any Restricted Subsidiary (or a securities intermediary on its
behalf), in each case to receive any portion of the death benefits payable under such policy;

 

(i) 
any right of a securities intermediary in and to any insurance policy entered into in the ordinary course of the Borrower’s
business as the record owner or beneficiary thereof; and

 

(j) 
Liens in favor of any Lender, NFLP, and/or their respective Affiliates and/or DLP VII created solely for the purpose of implementing
the DLP VII Option and consummating the transactions contemplated thereby.

 

6.3. No Further Negative Pledges.
Neither the Borrower nor any Restricted Subsidiary will, directly or indirectly, enter into, incur or permit to exist any agreement or
other arrangement that prohibits, restricts or imposes any condition upon the ability of the Borrower or any Restricted Subsidiary to
create, incur or permit to exist any Lien upon any of its assets, whether now owned or hereafter acquired, to secure any Obligations;
provided that the foregoing shall not apply to (a) restrictions and conditions imposed by law or by any Credit Document,
the Indenture Documents or the documents governing any Indebtedness permitted hereunder or the Orders or (b) restrictions and conditions
existing on the date hereof identified on Schedule 6.3.

 

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6.4. Restricted Junior
Payments. Neither the Borrower nor any Restricted Subsidiary will declare or pay or make, or agree to declare or pay or make,
directly or indirectly, any Restricted Junior Payment, or incur any obligation (contingent or otherwise) to do so, except that (a)
any Restricted Subsidiary may declare and pay dividends or make other distributions with respect to its capital stock, partnership
or membership interests or other similar Equity Interests, and declare and make other Restricted Junior Payments in respect of its
Equity Interests, in each case ratably to the holders of such Equity Interests (or, if not ratably, on a basis more favorable to the
Borrower and the Restricted Subsidiaries), or make payments on Indebtedness to the extent authorized by the Approved Budget, (b)
Holdings may make payments to BEN under the Shared Services Agreement so long as such payments are (i) consistent with prior
business practices, except made on a monthly basis rather than quarterly, (ii) made in the ordinary course of business and (ii) in
accordance with the Approved Budget and (c) the Borrower and the Restricted Subsidiaries may repay Indebtedness (i) permitted under
Sections 6.1(b) and (g) in connection with the DLP VII Transaction and as contemplated under Section 5.17 and Exhibit
I, (ii) permitted under Section 6.1(h) in a manner that is (x) in the ordinary course of business, (y) in accordance with
the Cash Management Order and (z) in accordance with the Approved Budget, (iii) under the DLP IV Credit Agreement pursuant to
Sections 4.1(b) (but not in respect of sales of more than 5% of the portfolio of life settlement policies held by DLP IV as of the
Closing Date unless the Net Proceeds of such sale would be sufficient to repay in full all Obligations under this Agreement) and 5.2
of the DLP IV Credit Agreement and (iv) under the DLP VI Credit Agreement pursuant to Section 2.4(b) of the DLP VI Credit Agreement.
Notwithstanding anything to the contrary contained in this Agreement, any other Credit Document or any motion with the Bankruptcy
Court, without a court order, neither the Borrower nor any Restricted Subsidiary will make any Restricted Junior Payment to any
Person except as expressly permitted under clauses (a) and (b) above.

 

6.5. Restrictions on Subsidiary
Distributions. Neither the Borrower nor any Restricted Subsidiary will, directly or indirectly, enter into, incur or permit to exist
any agreement or other arrangement that prohibits, restricts or imposes any condition upon the ability of any Restricted Subsidiary (a) to
pay dividends or make other distributions on its Equity Interests owned by the Borrower or any Restricted Subsidiary, (b) to repay
or prepay any Indebtedness owing by such Restricted Subsidiary to the Borrower or any Restricted Subsidiary, (c) to make loans or
advances to the Borrower or to Guarantee the Obligations or (d) to transfer, lease or license any of its assets to the Borrower; provided
that the foregoing shall not apply to (i) restrictions and conditions imposed by law or by this Agreement, the Orders, any Credit
Document, the Indenture Documents, or the documents governing any Indebtedness permitted hereunder or (ii) restrictions and conditions
existing on the date hereof identified on Schedule 6.5.

 

6.6. Investments. Neither
the Borrower nor any Restricted Subsidiary will purchase or acquire (including pursuant to any merger or consolidation with any Person
that was not a wholly owned Restricted Subsidiary of the Borrower prior thereto), hold, make or otherwise permit to exist any Investment
in any other Person, or make any Acquisition, except:

 

(a) 
Investments in Cash and Cash Equivalents in accordance with the Approved Budget;

 

(b) 
Investments existing on the date hereof that are set forth on Schedule 6.6 (but not any additions thereto (including
any capital contributions) made after the date hereof);

 

(c) 
GWG Life shall be permitted to make capital contributions from time to time, in cash, to DLP Holdings VI or DLP IV, and DLP Holdings
VI shall be permitted to make capital contributions from time to time, in cash, to DLP VI, in each case of this clause (c) solely if such
a capital contribution is used by DLP IV or DLP VI, as applicable, to pay premiums on any one or more life insurance policies owned by
such Person within 30 days of such capital contribution being made;

 

(d) intercompany Investments
that are (i) in the ordinary course of business, (ii) in accordance with the Cash Management Order and (iii) in accordance with the
Approved Budget, including (subject to clauses (i) through (iii)) but not limited to intercompany Investments by the Borrower to DLP
IV and DLP VI for payments of policy premium and operating expenses but excluding, for the avoidance of doubt, any Investment by the
Borrower or any Restricted Subsidiary in or to any Subject Entity; and

 

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(e) 
Investments in DLP VII in amounts reasonably acceptable to the Administrative Agent solely for the purpose of implementing the
DLP VII Option and consummating the transactions contemplated thereby.

 

Notwithstanding
anything to the contrary contained in this Agreement, any other Credit Document or any motion with the Bankruptcy Court, without a court
order, neither the Borrower nor any Restricted Subsidiary will purchase, acquire, hold, make or otherwise permit to exist any Investment
in any Person, or otherwise make any Acquisition, except as expressly permitted under clauses (a) through (e) above.

 

6.7. Financial Covenants.
As of any Bi-Weekly Variance Testing Date, for the four-week period prior to the Bi-Weekly Variance Testing Date (such period, the “Bi-Weekly
Variance Cumulative Testing Period”), the Borrower shall not allow actual aggregate operating disbursements (excluding payment
of professional fees, and Obligations made pursuant to the Loan, including any fees and expenses of Term Loan Lender Advisors) for such
Bi-Weekly Variance Cumulative Testing Period to be greater than One Hundred Fifteen Percent (115%) of the aggregate estimated disbursements
(excluding payment of any fees and expenses of Term Loan Lender Advisors) for such Bi-Weekly Variance Cumulative Testing Period as set
forth in the Approved Budget (collectively, and including any variance described in the following sentence, the “Variance Limit”).
Notwithstanding the foregoing, the Borrower may carry-forward any operating disbursement amounts that are available and unused during
a prior Bi-Weekly Variance Cumulative Testing Period to any of the following Bi-Weekly Variance Cumulative Testing Periods. Additional
variances, if any, from the Approved Budget, and any proposed changes to the Approved Budget, shall be subject to the Administrative
Agent’s approval (which, for avoidance of doubt may be granted by electronic transmission).

 

6.8. Fundamental Changes; Disposition
of Assets; Equity Interests of Subsidiaries. (a) Neither the Borrower nor any Restricted Subsidiary will merge, consolidate or amalgamate
with or into any other Person, or liquidate, wind-up or dissolve (or suffer any liquidation or dissolution), and neither the Borrower
nor any Restricted Subsidiary shall Dispose (whether in one transaction or in a series of transactions) of assets that represent all
or substantially all of the assets of the Borrower or any Restricted Subsidiary, except:

 

(i) 
Dispositions, and exclusive licenses, to any Credit Party;

 

(ii) 
Investments made in compliance with Sections 6.6 and 6.10, or the granting of any Liens permitted by Section 6.2;

 

(iii) 
Dispositions of assets in any Insurance Event;

 

(iv) 
Dispositions in favor of NFLP and/or its Affiliates solely for the purpose of implementing the DLP VII Option and consummating
the transactions contemplated thereby; and

 

(v) 
Dispositions permitted by the first sentence of Section 6.8(b).

 

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(b) Notwithstanding anything
to the contrary set forth herein, neither the Borrower nor any Restricted Subsidiary shall sell, transfer, pledge, monetize or
otherwise Dispose, in any manner whatsoever (other than (x) Liens permitted under Section 6.2, (y) as permitted under the last
sentence of Section 6.10 or (z) sales of all or any portion of the life settlement portfolio of DLP IV or DLP VI in accordance with
Section 5.17(b) or, in the case of DLP IV, Section 6.4), any interest (including any Equity Interest) or other right (including
under any debt or other security) in any Subsidiary or Subject Entity, unless (i) the Administrative Agent has consented thereto in
writing (which such consent may not be unreasonably withheld) or, in the case of any Disposition of any Equity Interest of a Subject
Entity, such Disposition is not within the control of the Borrower or any Restricted Subsidiary, and (ii) the Net Proceeds received
from any such Disposition are applied immediately in the manner set forth in Section 2.13(a). Notwithstanding anything to the
contrary contained in this Agreement, any other Credit Document or any motion with the Bankruptcy Court, without a court order,
neither the Borrower nor any Restricted Subsidiary shall merge or consolidate with or into any other Person, or liquidate,
wind-up or dissolve (or suffer any liquidation or dissolution), and neither the Borrower nor any Restricted Subsidiary shall
Dispose (whether in one transaction or in a series of transactions) of assets that represent a material portion of their assets,
except as expressly permitted under clauses (a)(i) through (v) above.

 

6.9. Sales and Leasebacks.
Neither the Borrower nor any Restricted Subsidiary will enter into any Sale Leaseback Transaction.

 

6.10. Transactions with Affiliates
and Subject EntitiesNeither the Borrower nor any Restricted Subsidiary will, directly or indirectly, enter into or permit to exist
any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Subject Entity
or any Affiliate of the Borrower or such Restricted Subsidiary unless (x) such transaction is on fair and reasonable terms no less favorable
to the Borrower or such Restricted Subsidiary, as the case may be, than those that would prevail in an arm’s-length transaction
with unrelated third parties and (y) the Borrower Representative has provided the Administrative Agent with written notice of such transaction
at least ten (10) Business Days prior to such transaction; provided that the foregoing restriction shall not apply to (a) transactions
solely between or among Credit Parties and not involving any other Affiliate or Subject Entity, (b) any Restricted Junior Payment permitted
under Section 6.4, (c) compensation and indemnification arrangements for directors, officers, employees and consultants of the Borrower
or any Restricted Subsidiary entered into in the ordinary course of business in accordance with the Approved Budget (including, for the
avoidance of doubt, grants of stock options, stock purchase rights, stock exchange rights or other equity-based awards to directors,
employees and officers and any “key-man” insurance policy maintained by a Credit Party in the ordinary course of business
in accordance with the Approved Budget), (d) transactions in the ordinary course of business and in accordance with the Cash Management
Order and the Approved Budget, (e) transactions in connection with the implementation of the DLP VII Option and related transactions
contemplated on Exhibit I, (f) intercompany Investments permitted under Section 6.6 or (g) with the prior written consent of the Administrative
Agent, a transaction entered into solely for the purpose of consummating a Disposition of the type described in Section 6.8(a)(v). Neither
the Borrower nor any Restricted Subsidiary will, directly or indirectly, exercise any voting or consent rights (to the extent such rights
exist) under any agreement with respect to any Subject Entity without the Administrative Agent’s prior written consent (which may
not be unreasonably withheld).

 

6.11. Conduct of Business.
Neither the Borrower nor any Restricted Subsidiary will engage in any business other than the businesses engaged in by the Borrower and
the Restricted Subsidiaries on the Petition Date.

 

6.12. Hedge Agreements. Neither
the Borrower nor any Restricted Subsidiary will enter into any Hedge Agreement.

 

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6.13. Amendments or Waivers
of Organizational Documents and Certain Agreements. Neither the Borrower nor any Restricted Subsidiary will agree to any
amendment, restatement, amendment and restatement, supplement or other modification to, or waiver of any of its rights under, (a)
its Organizational Document, (b) any agreement or instrument governing or evidencing any Indebtedness (other than (i) amendments to
the DLP IV Credit Agreement that would not constitute an Event of Default under Section 8.1(m) and (ii) as described in clause (c)
of this sentence), (c) the Intercompany Notes (other than amendments, modifications or cancellations effected in connection with,
and substantially concurrently with the closing of, the DLP VII Option and the transactions contemplated on Exhibit I), or (d) the
Shared Services Agreement (other than any amendment thereto solely to permit payments thereunder to be made monthly), in each case
of clauses (a) through (d), without the Administrative Agent’s prior written consent (which may not be unreasonably
withheld).

 

6.14. Fiscal Year. Neither
the Borrower nor any Restricted Subsidiary will change its Fiscal Year to end on a date other than December 31.

 

6.15. Subsidiaries. Neither
the Borrower nor any of its Restricted Subsidiaries shall create, acquire or otherwise permit to exist any Subsidiary that is not in
existence as of the Closing Date and set forth on Schedule 4.2, other than the creation and existence of DLP VII solely for the
purpose of implementing the DLP VII Option and consummating the transactions contemplated thereby.

 

6.16. Employee Plans. Without
the prior written consent of the Administrative Agent in its reasonable discretion, neither the Borrower nor any Restricted Subsidiary
shall make, enter into or implement any amendment, waiver, supplement or other modification to any employment agreement, employee compensation
plan or key employee retention plan or incentive plan, or pay or cause to be paid any amount contemplated by such agreements or plans
before the date on which such amount becomes due and payable pursuant to the terms of the such agreements or plans, as applicable, or
pay or cause to be paid any bonus, incentive, retention, severance, change of control or termination payments pursuant to the terms of
such agreements or plans, as applicable, including, without limitation, any transaction or other bonus previously awarded but unpaid,
other than (a) after the expiration of the DLP VII Option Period, the establishment of a key employee incentive plan not to exceed $2,000,000
in the aggregate and for which certain milestones and parameters must be achieved (which milestones and parameters shall be reasonably
acceptable to the Administrative Agent) and (b) payment of wages and other amounts in accordance with the Debtors’ “first
day” orders or other orders satisfactory to the Administrative Agent in its reasonable discretion.

 

6.17. Additional Matters.
No Debtor shall:

 

(a) 
create or permit to exist any Superpriority Claim that is pari passu with or senior to the Superpriority Claims of the Lenders
other than the Carve-Out and Liens of the type described in Sections 6.2(e), (f) and (j);

 

(b) 
(i) obtain or seek to obtain any stay from the Bankruptcy Court on the exercise of any Agent’s or any Lender’s remedies
hereunder or under any other Credit Document, except as specifically provided in the Orders, or (ii) seek to change or otherwise modify
any Order or other order in the Bankruptcy Court with respect to the DIP Facility without the prior written approval of the Administrative
Agent;

 

(c) 
without the Administrative Agent’s consent (not to be unreasonably withheld) enter into any agreement to return any of its
inventory to any of its creditors for application against any pre-petition Indebtedness, pre-petition trade payables or other pre-petition
claims under Section 546(c) of the Bankruptcy Code or allow any creditor to take any setoff or recoupment against any of its pre-petition
Indebtedness, pre-petition trade payables or other pre-petition claims based upon any such return pursuant to Section 553(b)(1) of the
Bankruptcy Code or otherwise;

 

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(d)  assert
or prosecute any claim or cause of action against any of the Secured Parties (in their capacities as such), unless such claim or cause
of action is in connection with the enforcement of the Credit Documents against the Administrative Agent or the Lenders;

 

(e)  except
(i) as expressly provided or permitted hereunder (including to the extent pursuant to any “first day” or “second day”
orders complying with the terms of this Agreement), (ii) with the prior consent of the Administrative Agent in its reasonable discretion
or (iii) as provided pursuant to any other order of the Bankruptcy Court reasonably acceptable to the Requisite Lenders, make any payment
or distribution on account of any Indebtedness arising prior to the Petition Date;

 

(f)  other
than to any other Debtor or as otherwise permitted herein, make any payment, or set aside funds for the purpose of making any payments,
or otherwise transfer any economic value (including the payment of any fees, costs or expenses of any advisors) to any direct or indirect
equity holder of any Debtor solely in its capacity as such; or

 

(g)  open
or otherwise establish, or deposit, credit or otherwise transfer any cash, cash receipts, securities, financial assets or any other property
into a deposit account or securities account other than any deposit account or securities account established with the prior consent of
the Agents (or as required by the Cash Management Order) and in which the Collateral Agent has been granted a first-priority perfected
lien pursuant to the applicable Order.

 

SECTION 7. GUARANTEE

 

7.1. Guarantee of the Obligations.
The Guarantors jointly and severally hereby irrevocably and unconditionally guarantee the due and punctual payment in full of all Obligations
when and as the same shall become due. In furtherance of the foregoing, the Guarantors hereby jointly and severally agree that upon the
failure of the Borrower or any other Person to pay any of the Obligations when and as the same shall become due, whether at stated maturity,
by required prepayment, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic
stay under Section 362(a) of the Bankruptcy Code or any similar provision of, or stay imposed under, any other Debtor Relief Law),
the Guarantors will upon demand pay, or cause to be paid, in Cash, to the Administrative Agent, for the ratable benefit of Secured Parties,
an amount equal to the sum of all Obligations then due as aforesaid.

 

7.2. Indemnity by the Borrower;
Contribution by the Guarantors. (a) In addition to all such rights of indemnity and subrogation as
any Guarantor Subsidiary may have under applicable law (but subject to Section 7.5), the Borrower agrees that (i) in the event a payment
shall be made by any Guarantor Subsidiary under its Obligations Guarantee, the Borrower shall indemnify such Guarantor Subsidiary for
the full amount of such payment and such Guarantor Subsidiary shall be subrogated to the rights of the Person to whom such payment shall
have been made to the extent of such payment and (ii) in the event any Collateral provided by any Guarantor Subsidiary shall be sold
pursuant to any Collateral Document to satisfy in whole or in part any Obligations, the Borrower shall indemnify such Guarantor Subsidiary
in an amount equal to the Fair Market Value of the assets so sold.

 

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(b)  The
Guarantor Subsidiaries desire to allocate among themselves, in a fair and equitable manner, their obligations arising under this Section
7 and under the Collateral Documents. Accordingly, in the event any payment or distribution is made on any date by a Guarantor Subsidiary
under its Obligations Guarantee such that its Aggregate Payments exceed its Fair Share as of such date (such Guarantor Subsidiary being
referred to as a “Claiming Guarantor”) and the Borrower does not indemnify such Claiming Guarantor in accordance with
Section 7.2(a), such Claiming Guarantor shall be entitled to a contribution from each other Guarantor Subsidiary in an amount sufficient
to cause each Guarantor Subsidiary’s Aggregate Payments to equal its Fair Share as of such date (and for all purposes of this Section 7.2(b),
any sale or other dispositions of Collateral of a Guarantor Subsidiary pursuant to an exercise of remedies under any Collateral Document
shall be deemed to be a payment by such Guarantor Subsidiary under its Obligations Guarantee in an amount equal to the Fair Market Value
of such Collateral, less any amount of the proceeds of such sale or other dispositions returned to such Guarantor Subsidiary). “Fair
Share” means, with respect to any Guarantor Subsidiary as of any date of determination, an amount equal to (i) the ratio
of (A) the Fair Share Contribution Amount with respect to such Guarantor Subsidiary to (B) the aggregate of the Fair Share Contribution
Amounts with respect to all Guarantor Subsidiaries multiplied by (ii) the aggregate amount paid or distributed on or before
such date by all Claiming Guarantors under their Obligations Guarantees. “Fair Share Contribution Amount” means, with
respect to any Guarantor Subsidiary as of any date of determination, the maximum aggregate amount of the obligations of such Guarantor
Subsidiary under its Obligations Guarantee that would not render its obligations thereunder subject to avoidance as a preference, fraudulent
transfer or conveyance or transfer at undervalue under Section 548 of the Bankruptcy Code or any comparable applicable provisions of state
or foreign law; provided that solely for purposes of calculating the “Fair Share Contribution Amount” with respect
to any Guarantor Subsidiary for purposes of this Section 7.2(b), any assets or liabilities of such Guarantor Subsidiary arising by
virtue of any rights to subrogation, reimbursement or indemnification or any rights to or obligations of contribution under this Section
7 shall not be considered as assets or liabilities of such Guarantor Subsidiary. “Aggregate Payments” means, with respect
to any Guarantor Subsidiary as of any date of determination, an amount equal to (A) the aggregate amount of all payments and distributions
made on or before such date by such Guarantor Subsidiary in respect of its Obligations Guarantee (including any payments and distributions
made under this Section 7.2(b)), minus (B) the aggregate amount of all payments received on or before such date by such
Guarantor Subsidiary from the Borrower pursuant to Section 7.2(a) or the other Guarantor Subsidiaries pursuant to this Section 7.2(b).
The amounts payable under this Section 7.2(b) shall be determined as of the date on which the related payment or distribution is
made by the applicable Claiming Guarantor. The allocation among Guarantor Subsidiaries of their obligations as set forth in this Section
7.2(b) shall not be construed in any way to limit the liability of any Guarantor Subsidiary hereunder or under any Collateral Document.

 

7.3. Liability of Guarantors
Absolute. Each Guarantor agrees that its obligations under this Section 7 are irrevocable, absolute, independent and unconditional
and shall not be affected by any circumstance that constitutes a legal or equitable discharge of a guarantor or surety other than payment
in full in Cash of the Obligations. In furtherance of the foregoing and without limiting the generality thereof, each Guarantor agrees
as follows:

 

(a) its
Obligations Guarantee is a guarantee of payment when due and not of collectability and is a primary obligation of such Guarantor and not
merely a contract of surety;

 

(b) the
Administrative Agent may enforce its Obligations Guarantee upon the occurrence of an Event of Default notwithstanding the existence of
any dispute between the Borrower and any Secured Party with respect to the existence of such Event of Default;

 

(c) the
obligations of each Guarantor hereunder are independent of the obligations of the Borrower or of any other guarantor (including any other
Guarantor) of the Obligations, and a separate action or actions may be brought and prosecuted against such Guarantor whether or not any
action is brought against the Borrower, any such other Guarantor or any other Person and whether or not the Borrower, any such other Guarantor
or any other Person is joined in any such action or actions;

 

(d)  payment
by any Guarantor of a portion, but not all, of the Obligations shall in no way limit, affect, modify or abridge any Guarantor’s
liability for any portion of the Obligations that has not been paid (and, without limiting the generality of the foregoing, if the Administrative
Agent is awarded a judgment in any suit brought to enforce any Guarantor’s covenant to pay a portion of the Obligations, such judgment
shall not be deemed to release such Guarantor from its covenant to pay the portion of the Obligations that is not the subject of such
suit, and such judgment shall not, except to the extent satisfied by such Guarantor, limit, affect, modify or abridge any other Guarantor’s
liability hereunder in respect of the Obligations);

 

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(e)  any
Secured Party may, upon such terms as it deems appropriate, without notice to such Guarantor and without affecting the validity or enforceability
of the Obligations Guarantees or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s
liability under this Section 7, but in accordance with the Credit Documents (including Section 10.5), at any time and from time to time
(i) renew, extend, accelerate, increase the rate of interest on, or otherwise change the time, place, manner or terms of payment
of the Obligations, (ii) settle, compromise, release or discharge, or accept or refuse any offer of performance with respect to, or substitutions
for, the Obligations or any agreement relating thereto, and/or subordinate the payment of the same to the payment of any other obligations,
(iii) accept other guarantees of the Obligations and take and hold security for the payment of the Obligations, (iv) release,
surrender, exchange, substitute, compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration, any
security for payment of the Obligations, any other guarantees of the Obligations or any other obligation of any Person (including any
other Guarantor) with respect to the Obligations, (v) enforce and apply any security now or hereafter held by or for the benefit
of such Secured Party in respect of the Obligations and direct the order or manner of sale thereof, or exercise any other right or remedy
that such Secured Party may have against any such security, in each case as such Secured Party in its reasonable discretion may determine
consistent herewith and any applicable security agreement, including foreclosure on any such security or exercise of a power of sale pursuant
to one or more judicial or nonjudicial sales, whether or not every aspect of any such sale is commercially reasonable, and even though
such action operates to impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Guarantor against
any other Credit Party or any security for the Obligations, and (vi) exercise any other rights available to it under and in accordance
with the Credit Documents; and

 

(f)  the
Obligations Guarantees and the obligations of the Guarantors thereunder shall be valid and enforceable and shall not be subject to any
reduction, limitation, impairment, discharge or termination for any reason, including the occurrence of any of the following, whether
or not any Guarantor shall have had notice or knowledge of any of them (in any case other than payment in full in Cash of the Obligations
or release of a Guarantor Subsidiary’s Obligations Guarantee in accordance with Section 9.8(c)(ii)): (i) any failure or omission
to assert or enforce or agree or elect not to assert or enforce, or the stay or enjoining, by order of court, by operation of law or otherwise,
of the exercise or enforcement of, any claim or demand or any right, power or remedy (whether arising under the Credit Documents, at law,
in equity or otherwise) with respect to the Obligations or any agreement relating thereto, or with respect to any other guarantee of or
security for the payment of the Obligations, (ii) any rescission, waiver, amendment or modification of, or any consent to departure
from, any of the terms or provisions (including provisions relating to events of default) of any Credit Document, or any agreement or
instrument executed pursuant thereto, or of any other guarantee or security for the Obligations, in each case whether or not in accordance
with the terms hereof or such Credit Document, or any agreement relating to such other guarantee or security, (iii) the Obligations,
or any agreement relating thereto, at any time being found to be illegal, invalid or unenforceable in any respect, (iv) the application
of payments received from any source (other than payments received pursuant to the other Credit Documents under which any Obligations
arose or from the proceeds of any security for the Obligations, except to the extent such security also serves as collateral for Indebtedness
other than the Obligations) to the payment of obligations other than the Obligations, even though any Secured Party could have elected
to apply such payment to all or any part of the Obligations, (v) any Secured Party’s consent to the change, reorganization
or termination of the corporate structure or existence of the Borrower or any Subsidiary and to any corresponding restructuring of the
Obligations, (vi) any failure to perfect or continue perfection of a security interest in any collateral that secures any of the
Obligations, (vii) any defenses, set-offs or counterclaims that the Borrower or any other Person may allege or assert against any
Secured Party in respect of the Obligations, including failure of consideration, breach of warranty, statute of frauds, statute of limitations,
accord and satisfaction and usury, and (viii) any other act or thing or omission, or delay to do any other act or thing, that may
or might in any manner or to any extent vary the risk of any Guarantor as an obligor in respect of the Obligations.

 

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7.4. Waivers by the Guarantors.
Each Guarantor hereby waives, for the benefit of the Secured Parties: (a) any right to require any Secured Party, as a condition of payment
or performance by such Guarantor in respect of its obligations under this Section 7, (i) to proceed against the Borrower, any other guarantor
(including any other Guarantor) of the Obligations or any other Person, (ii) to proceed against or exhaust any security held from the
Borrower, any such other guarantor or any other Person, (iii) to proceed against or have resort to any balance of any deposit account
or credit on the books of any Secured Party in favor of any Credit Party or any other Person, or (iv) to pursue any other remedy in the
power of any Secured Party whatsoever; (b) any defense arising by reason of the incapacity, lack of authority or any disability or other
defense of the Borrower or any other Guarantor, including any defense based on or arising out of the lack of validity or the unenforceability
of the Obligations or any agreement or instrument relating thereto or by reason of the cessation of the liability of the Borrower or
any other Guarantor from any cause other than payment in full in Cash of the Obligations; (c) any defense based upon any law that provides
that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; (d)
any defense based upon any Secured Party’s errors or omissions in the administration of the Obligations; (e) (1) any principles
or provisions of any law that are or might be in conflict with the terms hereof or any legal or equitable discharge of such Guarantor’s
obligations hereunder, (2) the benefit of any statute of limitations affecting such Guarantor’s liability hereunder or the enforcement
hereof, (3) any rights to set-offs, recoupments and counterclaims and (4) promptness, diligence and any requirement that any Secured
Party protect, secure, perfect or insure any security interest or lien or any property subject thereto; (f) notices, demands, presentments,
protests, notices of protest, notices of dishonor and notices of any action or inaction, including acceptance hereof, notices of default
under the Credit Documents or any agreement or instrument related thereto, notices of any renewal, extension or modification of the Obligations
or any agreement related thereto, notices of any extension of credit to the Borrower or any other Guarantor and notices of any of the
matters referred to in Section 7.3 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived
from or afforded by law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof.

 

7.5. Guarantors’ Rights
of Subrogation, Contribution, Etc. Until the Obligations shall have been indefeasibly paid in full in Cash and the Commitments shall
have terminated, each Guarantor hereby waives any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter
have against the Borrower or any other Guarantor or any of its assets in connection with its Obligations Guarantee or the performance
by such Guarantor of its obligations thereunder, in each case whether such claim, right or remedy arises in equity, under contract, by
statute, under common law or otherwise and including (a) any right of subrogation, reimbursement or indemnity that such Guarantor now
has or may hereafter have against the Borrower with respect to the Obligations, including any such right of indemnity under Section 7.2(a),
(b) any right to enforce, or to participate in, any claim, right or remedy that any Secured Party now has or may hereafter have
against the Borrower, and (c) any benefit of, and any right to participate in, any collateral or security now or hereafter held by or
for the benefit of any Secured Party. In addition, until the Obligations shall have been indefeasibly paid in full in Cash, the Commitments
shall have terminated, each Guarantor shall withhold exercise of any right of contribution such Guarantor may have against any other
guarantor (including any other Guarantor) of the Obligations, including any such right of contribution under Section 7.2(b). Each Guarantor
further agrees that, to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnity
and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights
of subrogation, reimbursement or indemnity such Guarantor may have against the Borrower or against any collateral or security, and any
rights of contribution such Guarantor may have against any such other Guarantor, shall be junior and subordinate to any rights any Secured
Party may have against the Borrower or any other Guarantor, to all right, title and interest any Secured Party may have in any such collateral
or security, and to any right any Secured Party may have against such other Guarantor. If any amount shall be paid to any Guarantor on
account of any such subrogation, reimbursement, indemnity or contribution rights at any time when all Obligations shall not have been
indefeasibly paid in full in Cash and all Commitments not having terminated, such amount shall be held in trust for the Administrative
Agent, for the benefit of the Secured Parties, and shall forthwith be paid over to the Administrative Agent, for the benefit of Secured
Parties, to be credited and applied against the Obligations, whether matured or unmatured, in accordance with the terms hereof. No Guarantor
will assert any right, claim or cause of action, including, without limitation, a claim of subrogation, contribution or indemnification
that it has against any Credit Party, or any Collateral, until the Obligations shall have been indefeasibly paid in full in Cash and
the Commitments shall have terminated.

 

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7.6. Continuing Guarantee.
The Obligations Guarantee is a continuing guarantee and shall remain in effect (except, in the case of a Guarantor Subsidiary, if such
Guarantor Subsidiary’s Obligations Guarantee shall have been released in accordance with Section 9.8(c)(ii)) until all of the Obligations
(excluding contingent obligations as to which no claim has been made) shall have been paid in full in Cash and the Commitments shall
have terminated. Each Guarantor hereby irrevocably waives any right to revoke its Obligations Guarantee as to future transactions giving
rise to any Obligations.

 

7.7. Authority of the Guarantors
or the Borrower. It is not necessary for any Secured Party to inquire into the capacity or powers of any Guarantor or the Borrower
or any Related Party acting or purporting to act on behalf of any such Person.

 

7.8. Financial Condition
of the Credit Parties. Any Credit Extension may be made or continued from time to time, without notice to or authorization from any
Guarantor regardless of the financial or other condition of the Borrower or any Subsidiary at the time of any such making or continuation.
No Secured Party shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment,
of the financial condition of the Borrower or any Subsidiary. Each Guarantor has adequate means to obtain information from the Borrower
and the Subsidiaries on a continuing basis concerning the financial condition of the Borrower and the Subsidiaries and their ability
to perform the Obligations, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of
the Borrower and the Subsidiaries and of all circumstances bearing upon the risk of nonpayment of the Obligations. Each Guarantor hereby
waives and relinquishes any duty on the part of any Secured Party to disclose any matter, fact or thing relating to the business, results
of operations, assets, liabilities, condition (financial or otherwise) or prospects of the Borrower or any Subsidiary now or hereafter
known by any Secured Party. In the event that all or any portion of the Obligations are paid by the Borrower or any Subsidiary, the obligations
of the Guarantors under this Section 7 shall be reinstated (notwithstanding any prior release of any Obligations Guarantee), in the event
that all or any part of such payment(s) are rescinded or recovered directly or indirectly from any Secured Party as a preference, fraudulent
transfer or conveyance or transfer at undervalue or otherwise, and any such payments that are so rescinded or recovered shall constitute
Obligations for all purposes hereunder.

 

7.9. Bankruptcy, Etc.
Except as set forth in this Agreement or as agreed by the Credit Parties, the obligations of the Guarantors hereunder shall not be reduced,
limited, impaired, discharged, deferred, suspended or terminated by any case or proceeding, voluntary or involuntary, involving the bankruptcy,
insolvency, receivership, reorganization, liquidation, arrangement or similar proceeding of the Borrower or any other Guarantor or by
any defense that the Borrower or any other Guarantor may have by reason of the order, decree or decision of any court or administrative
body resulting from any such proceeding.

 

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SECTION 8. EVENTS OF DEFAULT

 

8.1. Events of Default.
Each of the following conditions or events shall be an “Event of Default”:

 

(a)  Failure
to Make Payments When Due. Failure by the Borrower (i) to pay, when due, any principal of any Loan, whether at stated maturity,
by acceleration, by notice of voluntary prepayment, by mandatory prepayment or otherwise, or (ii) to pay, within three (3) Business Days
after the date due, any interest on any Loan or any fee or any other amount due hereunder or under any other Credit Document;

 

(b)  Default
in Other Agreements. (i) Failure by the Borrower or any Restricted Subsidiary, after the expiration of any applicable grace period,
to make any payment that shall have become due and payable (whether of principal, interest or otherwise) in respect of any Material Indebtedness
(other than the Indenture) or any obligations under any SPV Credit Facility, (ii) other than any Material Indebtedness that automatically
accelerates or becomes due as a result of the Cases and is set forth on Schedule 8.1(b), any condition or event shall occur
that results in any Material Indebtedness (including the Indenture) or any obligations under any SPV Credit Facility becoming due,
or being required to be prepaid, repurchased, redeemed or defeased, prior to its stated maturity, or in the case of any Hedge Agreement,
being terminated, (iii) any condition or event shall occur that that enables or permits the holder or holders of any Material Indebtedness
(other than the trustee under the Indenture) or the holders of any obligations under any SPV Credit Facility or any trustee or agent on
its or their behalf, or, in the case of any Hedge Agreement, the applicable counterparty, with or without the giving of notice, to cause
such Material Indebtedness or obligations under such SPV Credit Facility to become due, or to require the prepayment, repurchase, redemption
or defeasance thereof, prior to its stated maturity or, in the case of any Hedge Agreement, to cause the termination thereof or (iv) either
(A) any portion of the Indebtedness under any Intercompany Note is owed to a Person other than DLP IV or (B) the holder of any Intercompany
Note makes a demand thereunder; provided that in no event shall an Event of Default result pursuant to this clause (b) solely as
a result of (x) any event of default under Section 8.1(j)(ii) of the DLP VI Credit Agreement as a result of any Person contesting in any
manner the validity or enforceability of any material provision of any “Loan Document” as defined in the DLP VI Credit Agreement,
unless either (1) such Person is a “Loan Party” as defined in the DLP VI Credit Agreement or an Affiliate thereof or (2) such
contest could reasonably be expected to result in an adverse determination or (y) any event of default under Section 10.1(e)(iii) of the
DLP IV Credit Agreement as a result of any Person directly or indirectly contesting the effectiveness, validity, binding nature or enforceability
of any “Transaction Document” as defined in the DLP IV Credit Agreement, unless either (1) such Person is DLP IV or an Affiliate
thereof or (2) such contest could reasonably be expected to result in an adverse determination;

 

(c)  Breach
of Certain Covenants. Failure of any Credit Party to perform or comply with (i) any term or condition contained in Section 5.1 (other
than clause (a)), 5.2, 5.13, 5.14, 5.15, 5.16, 5.17, 5.18, 5.19 or 6 and such failure shall not have been remedied within the earlier
of (x) twenty (20) days after the date of such occurrence or (y) thirty (30) days after the date that the Borrower or any other Credit
Party shall have received knowledge of such occurrence or (ii) any term or condition contained in Section 5.1(a) and such failure shall
not have been remedied within ten (10) days after the Borrower’s receipt of notice of such failure to perform or comply from the
Administrative Agent;

 

(d)  Breach
of Representations, Etc. Any representation, warranty, certification or other statement made or deemed made by or on behalf of any
Credit Party in any Credit Document or in any report, certificate or statement at any time provided in writing by or on behalf of any
Credit Party pursuant to or in connection with any Credit Document or the Transactions shall be incorrect in any respect as of the date
made or deemed made (or if any representation or warranty is expressly stated to have been made as of a specific date incorrect in any
respect as of such specific date);

 

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(e)  Other
Defaults under Credit Documents. Failure of any Credit Party to perform or comply with any term or condition contained herein or in
any other Credit Document, other than any such term or condition referred to in any other clause of this Section 8.1, and, except
as may be expressly set forth in any such other Credit Document, such failure shall not have been remedied within ten (10) days after
such failure to perform or comply;

 

(f)  Involuntary
Bankruptcy; Appointment of Receiver, Etc. Except with the prior written consent of the Administrative Agent, (i) A court of competent
jurisdiction shall enter a decree or order for relief in respect of any Restricted Subsidiary that is not a Debtor in an involuntary case
under any Debtor Relief Laws, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal,
state or foreign law; or (ii) an involuntary case shall be commenced against any Restricted Subsidiary that is not a Debtor under
any Debtor Relief Laws; or a decree or order of a court having jurisdiction in the premises for the involuntary appointment of an interim
receiver, receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Restricted Subsidiary
that is not a Debtor, or over all or a substantial part of its property, shall have been entered; or there shall have occurred the involuntary
appointment of an interim receiver, receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over
any Restricted Subsidiary that is not a Debtor, or over all or a substantial part of its property; or a warrant of attachment, execution
or similar process shall have been issued against all or a substantial part of the property of any Restricted Subsidiary that is not a
Debtor, and any such event described in this clause (ii) shall continue for forty-five (45) days without having been dismissed, bonded
or discharged;

 

(g)  Voluntary
Bankruptcy; Appointment of Receiver, Etc. Except with the prior written consent of the Administrative Agent, any Restricted Subsidiary
that is not a Debtor shall have an order for relief entered with respect to it or shall commence a voluntary case under any Debtor Relief
Laws, or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary
case, under any Debtor Relief Laws, or shall consent to the appointment of or taking possession by an interim receiver, receiver, liquidator,
sequestrator, trustee, custodian or other officer having similar powers over any Restricted Subsidiary that is not a Debtor, or over all
or a substantial part of its property (other than any liquidation permitted by Section 6.8(a)(iv)); or any Restricted Subsidiary
that is not a Debtor shall make any general assignment for the benefit of creditors; or any Restricted Subsidiary that is not a Debtor
shall be unable, or shall fail generally, or shall admit in writing its inability, to pay its debts as such debts become due; or the board
of directors (or similar governing body) of any Restricted Subsidiary that is not a Debtor (or any committee thereof) shall adopt any
resolution or otherwise authorize any action to approve any of the actions referred to in this Section 8.1(g) or in Section 8.1(f);

 

(h)  Judgments
and Attachments. One or more judgments arising following the Petition Date for the payment of money in an aggregate amount of $1,000,000
or more (other than any such judgment covered by insurance (other than under a self-insurance program) provided by a financially sound
insurer to the extent a claim therefor has been made in writing and liability therefor has not been denied in writing by the insurer),
shall be rendered against the Borrower, any Restricted Subsidiary or any combination thereof and the same shall remain undischarged for
a period of forty-five (45) consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken
by a judgment creditor to attach or levy upon any assets of the Borrower or any Restricted Subsidiary to enforce any such judgment;

 

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(i)  Employee
Benefit Plans. The occurrence of one or more ERISA Events or Foreign Plan Events that have had, or could reasonably be expected to
result in liability which would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect;

 

(j)  Change
of Control; Key Person Event. (i) A Change of Control shall occur or (ii) a Key Person Event shall occur;

 

(k)  Obligations
Guarantees, Collateral Documents and other Credit Documents. Any Obligations Guarantee purported to be created under the Credit Documents
for any reason shall cease to be, or shall be asserted by any Credit Party not to be, in full force and effect (other than in accordance
with its terms), or shall be declared to be null and void; any Lien purported to be created under any Collateral Document shall cease
to be, or shall be asserted by any Credit Party not to be, a valid and perfected Lien on any Collateral, with the priority required by
the applicable Collateral Document, except as a result of (i) a Disposition of the applicable Collateral in a transaction permitted under
the Credit Documents, (ii) the release thereof as provided in Section 9.8(c) or (iii) the Collateral Agent’s failure to maintain
possession of any stock certificate, promissory note or other instrument delivered to it under the Collateral Documents; or this Agreement
or any Collateral Document shall cease to be in full force and effect (other than in accordance with its terms), or shall be declared
null and void, or any Credit Party shall contest the validity or enforceability of any Credit Document or deny that it has any further
liability, including with respect to future advances by Lenders, under any Credit Document to which it is a party (other than in accordance
with its terms);

 

(l)  Credit
Documents. (i) Any Credit Party shall knowingly contest, or knowingly support another Person in any action that seeks to contest,
the validity or effectiveness of any Credit Document (other than pursuant to the terms hereof or thereof) or (ii) any Credit Document,
shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding and enforceable against any party thereto
(other than pursuant to the terms hereof or thereof);

 

(m)  DLP
IV and DLP VI; SPV Credit Facilities. If (1) any policy that is owned by, or for the account of, DLP IV or DLP VI shall lapse or be
surrendered, (2) during any period of ten (10) or more consecutive days following the date hereof, there are one or more policies owned
by, or for the account of, either or both of DLP IV or DLP VI that are in a state of grace or lapse pending or a similar state and that
have an aggregate Financed DLP IV/VI Death Benefit Amount which exceeds 2.50% of the aggregate Financed DLP IV/VI Death Benefit Amount
of all of the in-force policies then owned by, or for the account of, DLP IV and DLP VI, (3) any policy owned by DLP IV is subject to
a collateral assignment in favor of any Person other than the administrative agent and/or lenders under the DLP IV Credit Agreement, (4)
any Person is an irrevocable beneficiary of any policy owned by DLP IV, other than as set forth on Schedule 4.22(a)-2 or
the administrative agent and/or lenders under the DLP IV Credit Agreement as set forth in the Letter Agreement (as defined in the DLP
IV Credit Agreement), (5) any “Event of Default” under either SPV Credit Facility shall occur or (6) any “Transaction
Document” (as defined in the DLP IV Credit Agreement as in effect at the time that this Agreement is executed) or “Loan Document”
(as defined in the DLP VI Credit Agreement as in effect at the time that this Agreement is executed), or any term or provision thereof
(including the occurrence of any “Default” or “Event of Default” thereunder), shall be amended, waived or otherwise
modified in any respect without the Administrative Agent’s prior written consent (not to be unreasonably withheld) other than amendments
or other modifications to such a “Transaction Document” if such amendment or other modification, as the case may be, is solely
limited to providing for (i) (A) the payment of premiums on any one or more policies that are owned by DLP IV and (B) does not alter any
of the economic or other terms of the financing provided by the DLP IV Credit Agreement and other “Transaction Documents”
thereunder (other than, to the extent that any such premium is paid by the making of an additional advance under the DLP IV Credit Agreement,
an alteration that increases the aggregate principal balance of the loans under the DLP IV Credit Agreement by the amount of such premium
so paid) or (ii) the extension, removal or other modification of any obligation to deliver required financial statements under the DLP
IV Credit Agreement; provided that in no event shall an Event of Default result pursuant to this clause (m) solely as a result
of (x) any event of default under Section 8.1(j)(ii) of the DLP VI Credit Agreement as a result of any Person contesting in any manner
the validity or enforceability of any material provision of any “Loan Document” as defined in the DLP VI Credit Agreement,
unless either (I) such Person is a “Loan Party” as defined in the DLP VI Credit Agreement or an Affiliate thereof or (II)
such contest could reasonably be expected to result in an adverse determination, (y) any event of default under Section 10.1(e)(iii) of
the DLP IV Credit Agreement as a result of any Person directly or indirectly contesting the effectiveness, validity, binding nature or
enforceability of any “Transaction Document” as defined in the DLP IV Credit Agreement, unless either (I) such Person is DLP
IV or an Affiliate thereof or (II) such contest could reasonably be expected to result in an adverse determination or (z) any event of
default (and related amendment and/or waiver thereof) under Section 10.1(a) of the DLP IV Credit Agreement as a result of a failure of
the Borrower to make any payment pursuant to Section 4.1(e) of the DLP IV Credit Agreement, so long as (in the case of this clause (z))
the requisite lenders under the DLP IV Credit Agreement shall have waived such event of default or otherwise agreed to amend or modify
the DLP IV Credit Agreement in order to have the effect of waiving such event of default and any such amendment or waiver does not require
the payment of fees or otherwise alter any of the economic or other terms of the financing provided by the DLP IV Credit Agreement and
other “Transaction Documents” thereunder;

 

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(n)  Legal
Events. Either (1) the indictment or institution of any legal process or proceeding against any Credit Party, Restricted Subsidiary,
Key Person or officer or director of any Credit Party or Restricted Subsidiary, under any federal, state, provincial, municipal or other
criminal statute, rule, regulation, order or requirement having the force of law for a felony, or (2) the institution by the SEC of an
enforcement proceeding against any Credit Party, Restricted Subsidiary, Key Person or officer or director of any Credit Party or Restricted
Subsidiary;

 

(o)  Alternate
Transaction. Immediately upon the occurrence of the entry of a bidding procedures order (other than with the prior written consent
of the Administrative Agent or as necessary to comply with Section 5.17(b) of this Agreement) with respect to a sale of a material portion
or all or substantially all of the assets of Borrower or any of its direct or indirect Subsidiaries to a purchaser other than Holdings;

 

(p)  Restrainment.
If a Credit Party or any of its Subsidiaries is enjoined, restrained, or in any way prevented by court order from continuing to conduct
all or any material part of the business affairs of the Credit Parties and their Subsidiaries, taken as a whole; or

 

(q)  The
Cases; Bankruptcy Matters.

 

(i)  the
Interim Order at any time ceases to be in full force and effect, or shall be vacated, reversed, stayed, modified or amended without the
prior written consent of the Administrative Agent;

 

(ii)  the
Final Order (I) at any time ceases to be in full force and effect, (II) shall be vacated, reversed, stayed, modified or amended without
the prior written consent of the Administrative Agent, or (III) shall not have been entered by the Bankruptcy Court on or prior to the
Final Order Deadline; provided that such time period in this clause (III) shall be extended as provided in Section 5.17;

 

(iii)  dismissal
of the Cases or conversion of the Cases to a Chapter 7 case (or the filing of any pleading by the Debtors seeking, consenting to or otherwise
supporting such action);

 

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(iv)  appointment
of a Chapter 11 trustee, a responsible officer or an examiner (other than a fee examiner) with enlarged powers (beyond those set forth
in Section 1106(a)(3) and (4) of the Bankruptcy Code) relating to the operation of the business of any Debtor in the Case (or the filing
of any pleading by a Debtor seeking, consenting to or otherwise supporting such action);

 

(v)  subject
to the Carve-Out and Liens of the type described in Sections 6.2(e), (f) and (j), the Bankruptcy Court’s granting of any Superpriority
Claim or Lien on the Collateral which is pari passu with or senior to the Superpriority Claims or Liens of the Lenders in the Case
(or the filing of any pleading by a Debtor seeking, consenting to or otherwise supporting such action);

 

(vi)  other
than payments authorized by the Bankruptcy Court or which are set forth in the Approved Budget (i) in respect of accrued payroll and related
expenses as of the commencement of the Cases and (ii) in respect of certain critical vendors and other creditors, in each case to the
extent authorized by one or more “first day” or other orders satisfactory to the Administrative Agent, any Debtor shall make
any payment (whether by way of adequate protection or otherwise) of principal or interest or otherwise on account of any prepetition Indebtedness
or payables (including without limitation, reclamation claims);

 

(vii)  the
Bankruptcy Court shall enter one or more orders during the pendency of the Cases granting relief from the Automatic Stay to the holder
or holders of any Lien to permit foreclosure (or the granting of a deed in lieu of foreclosure or the like) on assets of any Debtor in
an aggregate amount in excess of $250,000 without the prior written consent of the Administrative Agent;

 

(viii)  the
Termination Date shall have occurred;

 

(ix)  the
Debtors’ “exclusive period” under Section 1121 of the Bankruptcy Code for the filing of a plan of reorganization terminates
for any reason;

 

(x)  any
Debtor petitions the Bankruptcy Court to obtain additional financing pari passu or senior to the Liens securing the Loans without
the prior written consent of the Administrative Agent (other than as contemplated by the DLP VII Transaction);

 

(xi)  the
failure of any Debtor to comply in any material respect with the terms of any applicable Order;

 

(xii)  (A)
any Debtor engages in or support any challenge to the validity, perfection, priority, extent or enforceability of the Credit Documents
or the Liens on or security interest in the assets of any Debtor securing the Obligations, including without limitation seeking to equitably
subordinate or avoid the liens securing the such indebtedness or (B) the Debtors engage in or support any investigation or assert any
claims or causes of action (or directly or indirectly support assertion of the same) against any Agent or any Lender;

 

(xiii)  after
entry of the Final Order, the entry of any final order in the Case charging any of the Collateral, including under Section 506(c), which
is adverse to the Lenders or their rights and remedies under the DIP Facility in the Case;

 

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(xiv)  any
Debtor shall consummate or seek to obtain Bankruptcy Court approval of any sale or other Disposition of all Collateral or a portion of
the Collateral with an aggregate value in excess of $250,000 securing the Loans (other than (1) in ordinary course of business that is
contemplated by the Approved Budget or to comply with Section 5.17(b), (2) as permitted by Section 6.8(b) or (3) that would be in an amount
sufficient to repay the Obligations in full, provided, that for purposes of clarification, in no event shall this parenthetical
clause apply to any property owned by DLP IV or DLP VI) without the advance written consent of the Administrative Agent;

 

(xv)  the
confirmation of a plan of reorganization or liquidation that is not an Approved Plan, or any Debtor proposes or supports, or fails to
contest in good faith, the entry of such a plan of reorganization or liquidation; or

 

(xvi)  the
entry of an order by the Bankruptcy Court in favor of the statutory committee of unsecured creditors (the “Creditors’ Committee”),
if any, appointed in the Cases, any ad hoc committee, or any other party in interest, (i) sustaining an objection to claims of any Agent
or any of the Lenders or (ii) avoiding any Liens held by the Collateral Agent.

 

8.2. Remedies. Notwithstanding
anything in any Credit Document:

 

(a)  Subject
to any applicable notice and cure period under the Credit Documents and/or the Orders, immediately upon the occurrence and during the
continuation of an Event of Default, and without further order of the Court, the automatic stay provisions of section 362 of the Bankruptcy
Code are vacated and modified to the extent necessary to permit the Agent to, send a declaration (which may be given by electronic mail)
to counsel to the Debtors, the U.S. Trustee, and counsel to the Committee (if any) stating that an Event of Default has occurred, the
requirements to fund the Carve-Out under paragraphs 13 and 14 of the Order have been triggered and that, (i) the Commitments shall be
terminated, reduced, or restricted immediately unless and until the Administrative Agent shall reinstate the same in writing, (ii) declare
the DIP Facility then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and
payable may thereafter be declared due and payable), and thereupon the principal of the Loans so declared to be due and payable, together
with accrued interest thereon and all fees and other Obligations, shall become due and payable immediately, in each case, without presentment,
demand, protest, notice of intent to accelerate, notice of acceleration or other notice of any kind, which is waived by the Debtors pursuant
to this Agreement, (iii) declare a termination, reduction or restriction on the ability of the Debtors to use any Cash Collateral, (iv)
terminate the DIP Facility, (v) charge the Default Rate under the DIP Facility, and (vi) exercise any right or remedy with respect to
the Collateral or Liens, or take another action or exercise any other right or remedy permitted under the DIP Credit Documents or applicable
law (each such declaration shall be referred to as a “DIP Termination Declaration” and the date on which a DIP Termination
Declaration is delivered shall be referred to as the “DIP Termination Date”); provided, however, that in the
case of the enforcement of liens or other remedies with respect to DIP Collateral pursuant to (f) of the foregoing, the Agent shall provide
the Debtors (with a copy to counsel for the Committee and the U.S. Trustee, and a copy filed with the Bankruptcy Court) with notice, and
request an emergency hearing with respect to the same (the “Stay Relief Hearing”).

 

(b)  The
Bankruptcy Court shall conduct the Stay Relief Hearing upon no less than five (5) business days’ notice to determine whether an
Event of Default has occurred; provided that, at the Stay Relief Hearing, the only issue that may be raised by any party in opposition
to the actions proposed or available to be taken by the Administrative Agent shall be whether, in fact, an Event of Default has occurred
and is continuing. Prior to the Stay Relief Hearing, the Debtors are authorized to use Cash Collateral and proceeds of the DIP Facility
solely (x) in accordance with the Approved Budget, (y) to satisfy obligations benefitting from the Carve-Out, and (z) as otherwise agreed
by the Administrative Agent acting at the direction of the Lenders.

 

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(c)  The
Court may fashion any appropriate remedy at the Stay Relief Hearing (the “Stay Remedy Order”), and subject to the Stay
Remedy Order, (i) the Agent may proceed to protect, enforce and exercise all other rights and remedies provided for in the Credit Documents
and under applicable law including the right to foreclose on, or otherwise exercise its rights with respect to all or any portion of the
Collateral, including by applying the proceeds thereof to the Obligations, or to effectuate any set off (all of which such rights and
remedies of the Agent and Lenders shall be cumulative and not exclusive of any rights or remedies that the Agent and the Lenders may have
under the Credit Documents or otherwise), and (ii) the Debtors shall (at the expense of the Administrative Agent) cooperate fully with
the Agent and the Lenders in their exercise of rights and remedies, whether against the Collateral or otherwise.

 

(d)  The
Bankruptcy Court retains exclusive jurisdiction to hear and resolve any disputes and enter any orders required by the provisions of this
Section 8.2 and relating to the application, re-imposition or continuance of the automatic stay as provided hereunder.

 

8.3. Application of Payments.
After the exercise of remedies provided for in this Section 8 (or after the Loans have automatically become immediately due and payable)
and the funding of the Carve-Out, any amounts received on account of the Obligations, whether as proceeds of Collateral or otherwise,
shall be applied by the Administrative Agent in the following order (to the fullest extent permitted by mandatory provisions of applicable
law):

 

First, to payment of that portion
of the Obligations constituting fees, indemnities, expenses and other amounts payable to each of the Administrative Agent and the Collateral
Agent in their respective capacities as such;

 

Second, to payment of that portion
of the Obligations constituting fees (including any Exit Fee), indemnities and other amounts (other than principal and interest) payable
to the Lenders, ratably among them in proportion to the amounts described in this clause Second payable to them;

 

Third, to payment of that portion
of the Obligations constituting accrued and unpaid interest on the Loans, ratably among the Secured Parties in proportion to the respective
amounts described in this clause Third payable to them;

 

Fourth, to payment of that portion
of the Obligations constituting unpaid principal of the Loans, ratably among the Secured Parties in proportion to the respective amounts
described in this clause Fourth held by them;

 

Fifth, to the payment of all
other Obligations of the Borrower that are due and payable to the Administrative Agent and the other Secured Parties on such date, ratably
based upon the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other Secured Parties on
such date; and

 

Last, the balance, if any, after
all of the Obligations have been paid in full, to the Borrower or as otherwise required by law.

 

SECTION 9. AGENTS

 

9.1. Appointment of Agents.
NFLP is hereby appointed Administrative Agent and Collateral Agent hereunder and under the other Credit Documents, and each Lender hereby
authorizes NFLP to act as the Administrative Agent and the Collateral Agent in accordance with the terms hereof and of the other Credit
Documents. Without limiting the generality of the foregoing, the Lenders hereby expressly authorize the Agents to (i) execute any
and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as
contemplated by and in accordance with the provisions of this Agreement and the Collateral Documents and (ii) negotiate, enforce
or the settle any claim, action or proceeding affecting the Lenders in their capacity as such, at the direction of the Requisite Lenders
and, in each case, acknowledge and agree that any such action by any Agent shall bind the Lenders. Each such Agent hereby agrees to act
in its capacity as such upon the express conditions contained herein and in the other Credit Documents, as applicable. Other than Sections 9.7
and 9.8(c), the provisions of this Section 9 are solely for the benefit of the Agents, the Lenders, and no Credit Party shall have any
rights as a third party beneficiary of any such provisions. In performing its functions and duties hereunder, no Agent assumes, and shall
not be deemed to have assumed, any obligation towards or relationship of agency or trust with or for the Borrower or any Subsidiary.

 

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9.2. Powers and Duties.
Each Lender irrevocably authorizes each Agent to take such actions on such Lender’s behalf and to exercise such powers, rights
and remedies hereunder and under the other Credit Documents as are specifically delegated or granted to such Agent by the terms hereof
and thereof, together with such actions, powers, rights and remedies as are reasonably incidental thereto. Each Agent shall have only
those duties and responsibilities that are expressly specified herein and in the other Credit Documents. Each Agent may exercise such
powers, rights and remedies and perform such duties by or through its agents, employees ,and other Related Parties. No Agent shall have,
by reason hereof or of any of the other Credit Documents, a fiduciary relationship in respect of any Lender or any other Person (regardless
of whether or not a Default or an Event of Default has occurred), it being understood and agreed that the use of the term “agent”
(or any other similar term) herein or in any other Credit Documents with reference to any Agent is not intended to connote any fiduciary
or other implied obligations arising under any agency doctrine of any applicable law, and that such term is used as a matter of market
custom; and nothing herein or in any of the other Credit Documents, expressed or implied, is intended to or shall be so construed as
to impose upon any Agent any obligations in respect hereof or of any of the other Credit Documents except as expressly set forth herein
or therein. Without limiting the generality of the foregoing, no Agent shall, except as expressly set forth herein and in the other Credit
Documents, have any duty to disclose, or be liable for the failure to disclose, any information relating to the Borrower or any of its
Affiliates that is communicated to or obtained by the Person serving as such Agent or any of its Affiliates in any capacity.

 

9.3. General
Immunity.

 

(a)  No
Responsibility for Certain Matters. No Agent shall be responsible to any Lender for (i) the execution, effectiveness, genuineness,
validity, enforceability, collectability or sufficiency hereof or of any other Credit Document; (ii) the creation, perfection, maintenance,
preservation, continuation or priority of any Lien or security interest created, purported to be created or required under any Credit
Document; (iii) the value or the sufficiency of any Collateral; (iv) the satisfaction of any condition set forth in Section 3 or elsewhere
herein, other than to confirm receipt of items expressly required to be delivered to such Agent; (v) the failure of any Credit Party,
Lender, or other Agent to perform its obligations hereunder or under any other Credit Document; or (vi) any representations, warranties,
recitals or statements made herein or therein or in any written or oral statements or in any financial or other statements, instruments,
reports or certificates or any other documents furnished or made by any Agent to the Lenders or by or on behalf of any Credit Party to
any Agent or any Lender in connection with the Credit Documents and the transactions contemplated thereby or for the financial condition
or affairs of any Credit Party or any other Person liable for the payment of any Obligations, nor shall any Agent be required to ascertain
or inquire as to the performance or observance of any of the terms, conditions, provisions, covenants or agreements contained in any of
the Credit Documents or as to the use of the proceeds of the Loans or as to the existence or possible existence of any Default or Event
of Default (nor shall any Agent be deemed to have knowledge of the existence or possible existence of any Default or Event of Default
unless and until written notice thereof (stating that it is a “notice of default”) is given to such Agent by the Borrower
or any Lender) or to make any disclosures with respect to the foregoing. Notwithstanding anything herein to the contrary, the Administrative
Agent shall not have any liability arising from, or be responsible for any loss, cost or expense suffered by the Borrower, any Subsidiary
or any Lender as a result of, confirmations of the amount of outstanding Loans, any exchange rate determination or currency conversion,
in each case except to the extent caused by such Agent’s gross negligence or willful misconduct, as determined by a final, non-appealable
judgment of a court of competent jurisdiction.

 

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(b)  Exculpatory
Provisions. None of any Agent or any of its Related Parties shall be liable to the Lenders for any action taken or omitted by such
Agent under or in connection with any of the Credit Documents except to the extent caused by such Agent’s gross negligence or willful
misconduct, as determined by a final, non-appealable judgment of a court of competent jurisdiction. Without limiting the generality of
the foregoing, no Agent (i) nor any of its Related Parties shall (x) be liable to any Secured Party for any action taken or omitted by
any Agent (i) with the consent or at the request of the Requisite Lenders (or such other Lenders as may be required, or as such Agent
shall believe in good faith to be required, to give such instructions under Section 8.1 or Section 10.5), or (y) in the absence of its
own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment, (ii)
shall be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is continuing,
and (iii) shall be liable for any apportionment or distribution of payments made by it in good faith and if any such apportionment or
distribution is subsequently determined to have been made in error the sole recourse of any Lender to whom payment was due but not made,
shall be to recover from other Lenders any payment in excess of the amount to which they are determined to be entitled (and such other
Lenders hereby agree to return to such Lender any such erroneous payments received by them). Each Agent shall be entitled to refrain from
the taking of any action (including the failure to take an action) in connection herewith or with any of the other Credit Documents or
from the exercise of any power, discretion or authority (including the making of any requests, determinations, judgments, calculations
or the expression of any satisfaction or approval) vested in it hereunder or thereunder unless and until such Agent shall have received
instructions in respect thereof from the Requisite Lenders (or such other Lenders as may be required, or as such Agent shall believe in
good faith to be required, to give such instructions under Section 8.1 or Section 10.5) and upon receipt of such instructions from the
Requisite Lenders (or such other Lenders, as the case may be), such Agent shall be entitled to act or (where so instructed) refrain from
acting, or to exercise such power, discretion or authority, in accordance with such instructions; provided that such Agent shall
not be required to take any action that, in its opinion, could expose such Agent to liability or be contrary to any Credit Document or
applicable law, including any action that may be in violation of the automatic stay under any Debtor Relief Laws or that may effect a
forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law. Without prejudice to
the generality of the foregoing, (i) each Agent shall be entitled to rely, and shall be fully protected in relying, upon any notice, request,
certificate, consent, statement, instrument, document or other writing (including any telephonic notice, electronic message, Internet
or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise provided by
the proper Person (whether or not such Person in fact meets the requirements set forth in the Credit Documents for being the signatory,
sender or provider thereof) and on opinions and judgments of attorneys (who may be attorneys for the Borrower and the Subsidiaries), accountants,
insurance consultants, architects, engineers and other experts or professional advisors selected by it, and such Agent shall not be liable
for any action it takes or omits to take in good faith in reliance on any of the foregoing documents; and (ii) no Lender shall have any
right of action whatsoever against any Agent as a result of such Agent acting or (where so instructed) refraining from acting hereunder
or any of the other Credit Documents in accordance with the instructions of the Requisite Lenders (or such other Lenders as may be required,
or as such Agent shall believe in good faith to be required, to give such instructions under Section 8.1 or Section 10.5). In determining
compliance with any condition hereunder to the making of any Credit Extension that by its terms must be fulfilled to the satisfaction
of a Lender, the Administrative Agent may presume the satisfaction of such Lender unless the Administrative Agent shall have received
written notice to the contrary from such Lender reasonably in advance of such Credit Extension.

 

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(c)  Delegation
of Duties. Each Agent may perform any and all of its duties and exercise any and all of its powers, rights and remedies under this
Agreement or any other Credit Document by or through any one or more sub-agents appointed by such Agent. Each Agent and any such of its
sub-agents may perform any and all of its duties and exercise any and all of its powers, rights and remedies by or through their respective
Affiliates. The exculpatory, indemnification and other provisions set forth in this Section 9.3 and in Sections 9.6 and 10.3 shall apply
to any such sub-agent or Affiliate (and to their respective Related Parties) as if they were named as such Agent. No Agent shall be responsible
for the negligence or misconduct of any sub-agent appointed by it except to the extent that a court of competent jurisdiction determines
in a final, non-appealable judgment that such Agent acted with gross negligence or willful misconduct in the selection of such sub-agent.
Notwithstanding anything herein to the contrary, with respect to each sub-agent appointed by any Agent, (i) such sub-agent shall be a
third party beneficiary under the exculpatory, indemnification and other provisions set forth in this Section 9.3 and Sections 9.6 and
10.3 and shall have all of the rights and benefits of a third party beneficiary, including an independent right of action to enforce such
provisions directly, without the consent or joinder of any other Person, against any or all of the Credit Parties and the Lenders and
(ii) such sub-agent shall only have obligations to such Agent, and not to any Credit Party, any Lender or any other Person, and no
Credit Party, Lender or any other Person shall have any rights, directly or indirectly, as a third party beneficiary or otherwise, against
such sub-agent.

 

9.4. Acts in Individual Capacity.
Nothing herein or in any other Credit Document shall in any way impair or affect any of the rights and powers of, or impose any duties
or obligations upon, if applicable, any Agent in its individual capacity as a Lender hereunder. With respect to its Loans, if applicable,
each Agent shall have the same rights and powers hereunder as any other Lender and may exercise the same as if it were not performing
the duties and functions delegated to it hereunder. Each Agent and its Affiliates may accept deposits from, lend money to, own securities
of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of banking, trust, financial
advisory, commodity, derivative or other business with the Borrower or any of its Affiliates as if it were not performing the duties
and functions specified herein, and may accept fees and other consideration from the Borrower and its Affiliates for services in connection
herewith and otherwise, in each case without having to account therefor to the Lenders. Each Agent and its Affiliates, when acting under
any agreement in respect of any such activity or under any related agreements, will be acting for its own account as principal and will
be under no obligation or duty as a result of such Agent’s role in connection with the credit facility provided herein or otherwise
to take any action or refrain from taking any action (including refraining from exercising any right or remedy that might be available
to it).

 

9.5. Lenders’ Representations,
Warranties and Acknowledgments. (a) Each Lender represents and warrants that it has made, and will continue to make, its own independent
investigation of the financial condition and affairs of the Borrower and the Subsidiaries in connection with Credit Extensions or taking
or not taking action under or based upon any Credit Document, in each case without reliance on any Agent or any of its Related Parties.
No Agent shall have any duty or responsibility, either initially or on a continuing basis, to make any such investigation or any such
appraisal on behalf of Lenders or to provide any Lender with any credit or other information with respect thereto, whether coming into
its possession before the making of the Credit Extensions or at any time or times thereafter.

 

(b)  Each
Lender, by delivering its signature page to this Agreement or an Assignment Agreement and funding its Loans on the Closing Date shall
be deemed to have acknowledged receipt of, and consented to and approved, each Credit Document and each other document required to be
approved by any Agent, the Requisite Lenders or any other Lenders, as applicable, on the Closing Date.

 

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9.6. Right to Indemnity.
Each Lender, in proportion to its applicable Pro Rata Share (determined as set forth below), severally agrees to indemnify each Agent
and each Related Party thereof, to the extent that such Agent or such Related Party shall not have been reimbursed by any Credit Party
(and without limiting any Credit Party’s obligations under the Credit Documents to do so), for and against any and all Indemnified
Liabilities of any kind or nature whatsoever that may be imposed on, incurred by or asserted against such Agent or any such Related Party
in its capacity as such; provided that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages,
penalties, claims, actions, judgments, suits, costs, expenses or disbursements resulting from such Agent’s gross negligence or
willful misconduct, as determined by a final, non-appealable judgment of a court of competent jurisdiction; provided further that
no action taken in accordance with the directions of the Requisite Lenders (or such other number or percentage of the Lenders as shall
be required by the Credit Documents) shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section
9.6. If any indemnity furnished to any Agent for any purpose shall, in the opinion of such Agent, be insufficient or become impaired,
such Agent may call for additional indemnity and cease, or not commence, to do the acts indemnified against until such additional indemnity
is furnished; provided that in no event shall this sentence require any Lender to indemnify such Agent against any liability,
obligation, loss, damage, penalty, claim, action, judgment, suit, cost, expense or disbursement in excess of such Lender’s applicable
Pro Rata Share thereof; and provided further that this sentence shall not be deemed to require any Lender to indemnify such Agent
against any liability, obligation, loss, damage, penalty, claim, action, judgment, suit, cost, expense or disbursement described in the
first proviso (but subject to the second proviso) in the immediately preceding sentence. In the case of any investigation, litigation
or proceeding giving rise to any Indemnified Liabilities, this Section 9.6 applies whether any such investigation, litigation or proceeding
is brought by any Lender or any other Person. Without limitation of the foregoing, each Lender shall reimburse each Agent upon demand
for its Pro Rata Share of any costs or out-of-pocket expenses (with respect to the fees and expenses of counsel, limited to such fees,
expenses and disbursements of counsel to the Agents for which the Agents are entitled payment or reimbursement from any Borrower under
Section 10.2 or 10.3) incurred by the Administrative Agent or the Collateral Agent, as the case may be, in connection with the preparation,
execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise)
of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Credit Document, or any document contemplated
by or referred to herein, to the extent that the Administrative Agent or the Collateral Agent, as the case may be, is not reimbursed
for such expenses by or on behalf of the Credit Parties; provided that such reimbursement by the Lenders shall not affect the Credit
Parties’ continuing reimbursement obligations with respect thereto. For purposes of this Section 9.6, “Pro Rata Share”
shall be determined as of the time that the applicable indemnity payment is sought (or, in the event at such time all the Commitments
shall have terminated and all the Loans shall have been repaid in full, as of the time most recently prior thereto when any Loans or
Commitments remained outstanding). Each Lender hereby authorizes the Administrative Agent and Collateral Agent to set off and apply any
and all amounts at any time owing to such Lender under any Credit Document or otherwise payable by the Administrative Agent or the Collateral
Agent to such Lender from any source against any amount due to the Administrative Agent or the Collateral Agent under this Section 9.6.
The undertaking in this Section 9.6 shall survive termination of the Commitments, the payment of all other Obligations and the resignation
and/or replacement of the Administrative Agent or the Collateral Agent, as the case may be.

 

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9.7. Successor Administrative
Agent and Collateral Agent. Subject to the terms of this Section 9.7, the Administrative Agent may resign at any time from its capacity
as such. In connection with such resignation, the Administrative Agent shall give notice of its intent to resign to the Lenders and the
Borrower. Upon receipt of any such notice of resignation, the Requisite Lenders, subject to, unless (x) an Event of Default shall have
occurred and is continuing or (y) the DLP VII Option Period has not yet expired, the prior written consent of the Borrower Representative
(not to be unreasonably withheld, conditioned or delayed), shall have the right to appoint a successor; provided, that no consent
from the Borrower shall be required if the successor is an Affiliate of the predecessor Administrative Agent. If no successor shall have
been so appointed by the Requisite Lenders and shall have accepted such appointment within 30 days after the resigning Administrative
Agent gives notice of its intent to resign, then the resigning Administrative Agent may, on behalf of the Lenders, appoint a successor;
provided that in no event shall any such successor Administrative Agent be a Defaulting Lender. If the Administrative Agent shall
be a Defaulting Lender pursuant to clause (d) of the definition of such term, the Requisite Lenders may, to the extent permitted by applicable
law, by notice in writing to the Borrower and the Administrative Agent remove the Administrative Agent in its capacity as such and, subject
to, unless (x) an Event of Default shall have occurred and is continuing or (y) the DLP VII Option Period has not yet expired, the prior
written consent of the Borrower Representative (not to be unreasonably withheld, conditioned or delayed), appoint a successor; provided,
that no consent from the Borrower shall be required if the successor is an Affiliate of the predecessor Administrative Agent. Any resignation
or removal of the Administrative Agent shall be deemed to be a resignation of the Collateral Agent, and any successor Administrative
Agent appointed pursuant to this Section 9.7 shall, upon its acceptance of such appointment, become the successor Collateral Agent for
all purposes of the Credit Documents. Upon the acceptance of its appointment as Administrative Agent and Collateral Agent hereunder by
a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the resigning or
removed Administrative Agent and Collateral Agent, and the resigning or removed Administrative Agent and Collateral Agent shall be discharged
from its duties and obligations hereunder and under the other Credit Documents. The fees payable by the Borrower to a successor Administrative
Agent and Collateral Agent shall be the same as those payable to its predecessor unless otherwise agreed by the Borrower and such successor.
Notwithstanding the foregoing, in the event (a) no successor to a resigning Administrative Agent shall have been so appointed and shall
have accepted such appointment within 30 days after the resigning Administrative Agent gives notice of its intent to resign, the
resigning Administrative Agent may give notice of the effectiveness of its resignation to the Lenders and the Borrower or (b) no successor
to a removed Administrative Agent shall have been so appointed and shall have accepted such appointment by the day that is 30 days following
of the issuance of a notice of removal, the removal shall become effective on such 30th day, and on the date of effectiveness of such
resignation or removal, as the case may be, (i) the resigning or removed Administrative Agent and Collateral Agent shall be discharged
from its duties and obligations hereunder and under the other Credit Documents, provided that, solely for purposes of maintaining
any security interest granted to the Collateral Agent under any Collateral Document for the benefit of the Secured Parties, the resigning
or removed Collateral Agent shall continue to be vested with such security interest as collateral agent for the benefit of the Secured
Parties and, in the case of any Collateral in the possession of the Collateral Agent, shall continue to hold such Collateral, in each
case until such time as a successor Collateral Agent is appointed and accepts such appointment in accordance with this paragraph (it
being understood and agreed that the resigning or removed Collateral Agent shall have no duty or obligation to take any further action
under any Collateral Document, including any action required to maintain the perfection of any such security interest), and (ii) the
Requisite Lenders shall succeed to and become vested with all the rights, powers, privileges and duties of the resigning or removed Administrative
Agent and Collateral Agent, provided that (A) all payments required to be made hereunder or under any other Credit Document to
the Administrative Agent for the account of any Person other than the Administrative Agent shall be made directly to such Person and
(B) all notices and other communications required or contemplated to be given or made to the Administrative Agent or the Collateral Agent
shall also directly be given or made to each Lender. Following the effectiveness of the Administrative Agent’s and Collateral Agent’s
resignation from its capacity as such, the provisions of this Section 9 and of Sections 10.2 and 10.3 shall continue in effect for the
benefit of such resigning or removed Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted
to be taken by any of them while it was acting as Administrative Agent or Collateral Agent, as applicable, and in respect of the matters
referred to in the proviso under clause (a) above.

 

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9.8. Collateral Documents
and Obligations Guarantee. (a) Agents under Collateral Documents and the Obligations Guarantee. Each Secured Party hereby
further authorizes the Administrative Agent and the Collateral Agent to be the agent for and representative of the Secured Parties with
respect to the Guarantees purported to be created under the Credit Documents, the Collateral and the Credit Documents and authorizes
the Administrative Agent and the Collateral Agent to execute and deliver, on behalf of such Secured Party, any Collateral Documents that
the Administrative Agent or the Collateral Agent determines in its reasonable discretion to execute and deliver in connection with the
Credit Documents (and hereby grants to the Administrative Agent and the Collateral Agent any power of attorney that may be required under
any applicable law in connection with such execution and delivery on behalf of such Secured Party).

 

(b)  Right
to Realize on Collateral and Enforce Obligations Guarantee. Notwithstanding anything contained in any of the Credit Documents to the
contrary, the Credit Parties, the Administrative Agent, the Collateral Agent and each Secured Party hereby agree that (i) except
with respect to the exercise of set-off rights of any Lender or with respect to a Secured Party’s right to file a proof of claim
in any proceeding under the Debtor Relief Laws, no Secured Party shall have any right individually to realize upon any of the Collateral
or to enforce any Guarantees purported to be created under the Credit Documents, it being understood and agreed that all powers, rights
and remedies under the Credit Documents may be exercised solely by the Administrative Agent or the Collateral Agent, as applicable, for
the benefit of the Secured Parties in accordance with the terms thereof and that all powers, rights and remedies under the Collateral
Documents may be exercised solely by the Collateral Agent for the benefit of the Secured Parties in accordance with the terms thereof
and (ii) in the event of a foreclosure, exercise of a power of sale or similar enforcement action by the Collateral Agent on any of the
Collateral pursuant to a public or private sale or other disposition (including pursuant to Section 363(k), Section 1129(b)(2)(a)(ii)
or any other applicable section of the Bankruptcy Code, any analogous Debtor Relief Laws or any law relating to the granting or perfection
of security interests), the Collateral Agent (or any Lender, except with respect to a “credit bid” pursuant to Section 363(k),
Section 1129(b)(2)(a)(ii) or any other applicable section of the Bankruptcy Code any analogous Debtor Relief Laws or any law relating
to the granting or perfection of security interests) may be the purchaser or licensor of any or all of such Collateral at any such sale
or other disposition and the Collateral Agent, as agent for and representative of the Secured Parties (but not any Lender or Lenders in
its or their respective individual capacities) shall be entitled, upon instructions from the Requisite Lenders (subject to procedures
reasonably satisfactory to the Collateral Agent), for the purpose of bidding and making settlement or payment of the purchase price for
all or any portion of the Collateral sold or licensed at any such sale or other disposition, to use and apply any of the Obligations as
a credit on account of the purchase price for any Collateral payable by the Collateral Agent at such sale or other disposition. In connection
with any such bid referred to in clause (ii) above, (A) the Collateral Agent shall be authorized to form one or more acquisition vehicles
to make a bid, (B) the Collateral Agent shall be authorized to adopt documents providing for the governance of the acquisition vehicle
or vehicles (provided that any actions by the Collateral Agent with respect to such acquisition vehicle or vehicles, including
any disposition of the assets or Equity Interests thereof, shall be governed, directly or indirectly, by the vote of the Requisite Lenders,
irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Requisite Lenders contained
in Section 10.5(a)), (C) the Collateral Agent shall be authorized to assign the relevant Obligations to any such acquisition vehicle
pro rata among the Lenders, as a result of which each of the Lenders shall be deemed to have received a pro rata portion of any Equity
Interests and/or debt instruments issued by such an acquisition vehicle on account of the assignment of the Obligations to be credit bid,
all without the need for any Secured Party or acquisition vehicle to take any further action, and (D) to the extent that Obligations that
are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better,
because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of debt credit bid by the acquisition vehicle
or otherwise), such Obligations shall automatically be reassigned to the Lenders pro rata and the Equity Interests and/or debt instruments
issued by any acquisition vehicle on account of the Obligations that had been assigned to the acquisition vehicle shall automatically
be cancelled, without the need for any Secured Party or any acquisition vehicle to take any further action.

 

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(c)  Release
of Collateral and Obligations Guarantees. Notwithstanding anything to the contrary herein or in any other Credit Document:

 

(i)  When
all Obligations have been paid in full (excluding contingent obligations as to which no claim has been made) and all Commitments have
terminated, the Liens granted to the Collateral Agent or any other Secured Party by the Credit Parties on any Collateral, and all Guarantees
provided in any Credit Document, shall be automatically released, without any further action by any Secured Party or any other Person.

 

(ii)
Upon any sale or other transfer by any Credit Party (other than to the Borrower or any Restricted Subsidiary) of any Collateral in a transaction
permitted under this Agreement, or upon the effectiveness of any written consent to the release of the security interest created under
any Collateral Document in any Collateral pursuant to Section 10.5, the security interests in such Collateral created by the Collateral
Documents shall be automatically released, without any further action by any Secured Party or any other Person.

 

(iii)  In
connection with any termination, release or subordination pursuant to this Section 9.8(c), the Administrative Agent and the Collateral
Agent shall execute and deliver to any Credit Party, at such Credit Party’s expense, all documents that such Credit Party shall
reasonably request to evidence such termination, release or subordination, provided, that, other than in the case of a release
pursuant to Section 9.8(c)(i) above, the Borrower or other applicable Credit Party shall have provided the Administrative Agent and the
Collateral Agent, at least five (5) Business Days prior to the date of the proposed termination, release or subordination, a request for
such termination, release or subordination identifying the terms of the termination, release or subordination in reasonable detail, together
with a written certification by the Borrower stating that such transaction is in compliance with this Agreement and the other Credit Documents
(and the Lenders hereby authorize and direct each Agent to conclusively rely on such certifications in performing its obligations under
this Section 9.8(c)). Any execution and delivery of documents pursuant to this Section 9.8(c) shall be without recourse to or warranty
by the Administrative Agent or the Collateral Agent;

 

(d)  Additional
Exculpatory Provisions. The Collateral Agent shall not be responsible for or have a duty to ascertain or inquire into any representation
or warranty regarding the existence, value or collectability of any Collateral, the existence, priority or perfection of the Collateral
Agent’s Lien on any Collateral or any certificate prepared by any Credit Party in connection therewith, nor shall the Collateral
Agent be responsible or liable to the Secured Parties for any failure to monitor or maintain any portion of the Collateral.

 

(e)  Acceptance
of Benefits. Each Secured Party, whether or not a party hereto, will be deemed, by its acceptance of the benefits of the Collateral
or the Guarantees purported to be created under the Credit Documents, to have agreed to the provisions of this Section 9 (including the
authorization and the grant of the power of attorney pursuant to Section 9.8(a)), Section 10.24 and all the other provisions of this Agreement
relating to Collateral, any such Guarantee or any Collateral Document and to have agreed to be bound by the Credit Documents as a Secured
Party thereunder. It is understood and agreed that the benefits of the Collateral and any such Guarantee to any Secured Party are made
available on an express condition that, and is subject to, such Secured Party not asserting that it is not bound by the appointments and
other agreements expressed herein to be made, or deemed herein to be made, by such Secured Party.

 

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9.9. Withholding Taxes.
To the extent required by any applicable law, the Administrative Agent may withhold from any payment to any Lender an amount equivalent
to any applicable withholding Tax. If the IRS or any other Governmental Authority asserts a claim that the Administrative Agent did not
properly withhold Tax from amounts paid to or for the account of any Lender because the appropriate form was not delivered or was not
properly executed or because such Lender failed to notify the Administrative Agent of a change in circumstance which rendered the exemption
from, or reduction of, withholding Tax ineffective or as a result of any form expiring, or for any other reason, or if the Administrative
Agent reasonably determines that a payment was made to a Lender pursuant to this Agreement without deduction of applicable withholding
Tax from such payment, such Lender shall indemnify the Administrative Agent fully for all amounts paid, directly or indirectly, by the
Administrative Agent as Tax or otherwise, including any penalties or interest and together with all expenses (including legal expenses,
allocated internal costs and out-of-pocket expenses) incurred.

 

9.10. Administrative Agent
May File Bankruptcy Disclosure and Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Laws with respect
to any Credit Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein
expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower)
shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:

 

(a)  to
file a verified statement pursuant to rule 2019 of the Bankruptcy Rules that, in its sole opinion, complies with such rule’s disclosure
requirements for entities representing more than one creditor;

 

(b)  to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations
that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders,
the Administrative Agent, the Collateral Agent and any other Secured Party (including any claim under Sections 2.7, 2.9, 2.15, 2.18, 2.19,
2.24, 10.2 and 10.3) allowed in such judicial proceeding; and

 

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

 

and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such proceeding is hereby authorized by each Lender and each other Secured Party
to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such
payments directly to the Lenders or the other Secured Parties, to pay to the Administrative Agent any amount due to the Administrative
Agent, in such capacity or in its capacity as the Collateral Agent, or to its Related Parties under the Credit Documents (including under
Sections 10.2 and 10.3). To the extent that the payment of any such amounts due to the Administrative Agent, in such capacity or in its
capacity as the Collateral Agent, or to its Related Parties out of the estate in any such proceeding shall be denied for any reason, payment
of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other
property that the Lenders, or the other Secured Parties may be entitled to receive in such proceeding, whether in liquidation or under
any plan of reorganization or arrangement or otherwise. Nothing contained herein shall be deemed to authorize the Administrative Agent
to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition
affecting the Obligations or the rights of any Lender, or to vote in respect of the claim of any Lender in any such proceeding.

 

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SECTION 10. MISCELLANEOUS

 

10.1. Notices. (a) Notices
Generally. Any notice or other communication hereunder given to any Credit Party, the Administrative Agent, the Collateral Agent
or any Lender shall be given to such Person at its address, fax number or e-mail address as set forth on Schedule 10.1 or,
in the case of any Lender, at such address, fax number or e-mail address as shall have been provided by such Lender to the Administrative
Agent in writing. Except in the case of notices and other communications expressly permitted to be given as provided in Section 10.1(b),
each notice or other communication hereunder shall be in writing and shall be delivered in person or sent by e-mail, courier service
or certified or registered United States mail or facsimile and shall be deemed to have been given when delivered in person or by courier
service and signed for against receipt thereof, when sent by facsimile as shown on the transmission report therefor (or, if not sent
during normal business hours for the recipient, at the opening of business on the next Business Day for the recipient), as provided in
Section 10.1(b) if sent by e-mail or upon receipt if sent by United States mail; provided that no notice or other communication
given to the Administrative Agent or the Collateral Agent shall be effective until received by it; and provided further that any
such notice or other communication shall, at the request of the Administrative Agent, be provided to any sub-agent appointed pursuant
to Section 9.3(c) from time to time. Any party hereto may change its address (including its e-mail address, fax or telephone number)
for notices and other communications hereunder by notice to each of the Administrative Agent and the Borrower Representative.

 

(b)  Electronic
Communications.

 

(i)  Notices
and other communications to any Lender hereunder may be delivered or furnished by electronic communication (including e-mail and Internet
or intranet websites) pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply
to notices to any Lender pursuant to Section 2 if such Lender has notified the Administrative Agent that it is incapable of receiving
notices under such Section by electronic communication. Each of the Administrative Agent, the Collateral Agent and the Borrower may, in
its reasonable discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures
approved by it; provided that approval of such procedures may be limited to particular notices or communications or rescinded by
such Person by notice to each other such Person; provided, further, that notices and other communications to the Administrative
Agent or the Collateral Agent may be delivered to it at the e-mail address specified in Section 10.1(a). Unless the Administrative Agent
otherwise prescribes, (A) notices and other communications sent to an e-mail address shall be deemed received upon the recipient manually
(and expressly excluding any electronically read feature) confirming such receipt to the sender thereof, and (B) notices or communications
posted to an Internet or intranet website shall be deemed received upon the receipt by the intended recipient at its e-mail address as
described in the foregoing clause (A) of notification that such notice or communication is available and identifying the website address
therefor; provided that, for both clauses (A) and (B), if such notice, email or other communication is not sent during the normal business
hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next business
day for the recipient.

 

(ii)  Each
party hereto understands that the distribution of materials through an electronic medium is not necessarily secure and that there are
confidentiality and other risks associated with such distribution, and agrees and assumes the risks associated with such electronic distribution,
except to the extent caused by the willful misconduct or gross negligence of the Administrative Agent, as determined by a final, non-appealable
judgment of a court of competent jurisdiction.

 

(iii)  ANY
APPROVED ELECTRONIC COMMUNICATIONS ARE PROVIDED “AS IS” AND “AS AVAILABLE”. NONE OF THE AGENTS OR ANY OF THEIR
RELATED PARTIES WARRANTS AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF THE APPROVED ELECTRONIC COMMUNICATIONS OR THE PLATFORM, AND EACH
OF THE AGENTS AND THEIR RELATED PARTIES EXPRESSLY DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS IN THE PLATFORM AND THE APPROVED ELECTRONIC
COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT OR ANY OF ITS RELATED
PARTIES IN CONNECTION WITH THE PLATFORM OR THE APPROVED ELECTRONIC COMMUNICATIONS.

 

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(iv)  Each
Credit Party and each Lender agrees that the Administrative Agent may, but shall not be obligated to, store any Approved Electronic Communications
in accordance with the Administrative Agent’s customary document retention procedures and policies.

 

(c)  Private
Side Information Contacts. Each Public Lender agrees to cause at least one individual at or acting on behalf of such Public Lender
to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of any
Approved Electronic Communications in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s
compliance procedures and applicable law, including United States federal and state securities laws, to make reference to information
that is not made available through the “Public Side Information” portion of any Approved Electronic Communications and that
may contain Private-Side Information. In the event that any Public Lender has determined for itself not to access any information disclosed
through any Approved Electronic Communications or otherwise, such Public Lender acknowledges that (i) other Lenders may have availed themselves
of such information and (ii) none of any Credit Party or any Agent has any responsibility for such Public Lender’s decision to limit
the scope of the information it has obtained in connection with this Agreement and the other Credit Documents.

 

10.2. Expenses. The Borrower
agrees to pay promptly (a) all reasonable and documented out-of-pocket costs and expenses (including the reasonable fees, expenses and
other charges of counsel, appraisers, consultants, advisors (but, in the case of financial advisors, limited to one (1) financial advisor
with respect to the Agent and the Lenders) and agents employed or retained by the Collateral Agent and its counsel) incurred by any Agent
in connection with the structuring, documentation, negotiation, arrangement and syndication of the credit facilities provided for herein,
including (x) the preparation, execution, delivery and administration of this Agreement, the other Credit Documents or any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated thereby shall be consummated)
or any other document or matter requested by the Borrower or any other Credit Party and (y) the preparation, execution and delivery of
documentation for the DLP VII Term Loan; provided that the Borrower shall not be required to pay an amounts pursuant to this clause
(y) in the event that (A) the Administrative Agent declines or otherwise does not exercise the DLP VII Option during the DLP VII Option
Period or (B) the Administrative Agent exercises the DLP VII Option during the DLP VII Option Period but NFLP and its Affiliates shall
have refused, or be unable or unwilling, to consummate the DLP VII Transaction as contemplated by this Agreement, (b) all reasonable
and documented out-of-pocket costs and expenses of creating, perfecting, recording, maintaining and preserving Liens in favor of the
Collateral Agent for the benefit of the Secured Parties, including filing and recording fees, expenses and taxes, stamp or documentary
taxes, search fees, and reasonable fees, expenses and other charges of counsel to the Collateral Agent and of counsel providing any opinions
that the Administrative Agent or the Collateral Agent may reasonably request in respect of the Collateral or the Liens created pursuant
to the Collateral Documents (including the reasonable fees, expenses and other charges of appraisers, consultants, advisors (but, in
the case of financial advisors, limited to one (1) financial advisor with respect to the Agent and the Lenders) and agents employed or
retained by the Collateral Agent and its counsel), (c) all reasonable and documented out-of-pocket costs and expenses (including the
reasonable fees, expenses and other charges of any appraisers, consultants, advisors (but, in the case of financial advisors, limited
to one (1) financial advisor with respect to the Agent and the Lenders) and agents employed or retained by the Collateral Agent and its
counsel) in connection with the custody or preservation of any of the Collateral or any insurance process, (d) all out-of-pocket costs
and expenses, including reasonable fees, expenses and other charges of counsel (including the reasonable fees, expenses and other charges
of appraisers, consultants, advisors (but, in the case of financial advisors, limited to one (1) financial advisor with respect to the
Agent and the Lenders) and agents employed or retained by the Collateral Agent and its counsel) and costs of settlement, incurred by
any Agent, Lenders, and any Term Loan Lender Advisor in enforcing any Obligations of or in collecting any payments due from any Credit
Party hereunder or under the other Credit Documents by reason of such Default or Event of Default (including in connection with the sale,
lease or license of, collection from, or other realization upon any of the Collateral or the enforcement of any Obligations Guarantee)
or in connection with any refinancing or restructuring of the credit arrangements provided hereunder in the nature of a “work-out”
or pursuant to any insolvency or bankruptcy cases or proceedings and (e) all reasonable and documented or invoiced out-of-pocket costs
and expenses incurred by the Term Loan Lender Advisors (including the reasonable fees, expenses and other charges of any appraisers,
consultants, advisors (but, in the case of financial advisors, limited to one (1) financial advisor with respect to the Agent and the
Lenders)), in each case of this clause (e), in connection with the negotiation, execution, delivery and administration of the Credit
Documents, the other instruments, documents and agreements relating to any of the foregoing and the transactions contemplated hereby
and thereby or any amendments, modifications or waivers of the provisions hereof or thereof. All amounts due under this Section 10.2
shall be payable by the Borrower on a monthly basis, promptly upon submission by any Agent, Lender, professional or other Person contemplated
under this Section 10.2 of an invoice setting forth such fees, costs and expenses.

 

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10.3. Indemnity. (a)
In addition to the payment of expenses pursuant to Section 10.2, each Credit Party agrees to defend (subject to the applicable Indemnitee’s
selection of counsel), indemnify, pay and hold harmless each Agent (and each sub-agent thereof) and Lender and each of their respective
Related Parties (each, an “Indemnitee”), from and against any and all Indemnified Liabilities; provided that
such indemnity shall not, as to any Indemnitee, be available to the extent that such Indemnified Liabilities (x) are determined by a
court of competent jurisdiction by final and nonappealable judgment (including the Bankruptcy Court) to have resulted from the gross
negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower or any of their Affiliates against
an Indemnitee for material breach of such Indemnitee’s obligations hereunder or under any other Credit Document, if the Borrower
or such Affiliate has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction
(including the Bankruptcy Court). THE FOREGOING INDEMNIFICATION SHALL APPLY WHETHER OR NOT SUCH INDEMNIFIED LIABILITIES ARE IN ANY
WAY OR TO ANY EXTENT OWED, IN WHOLE OR IN PART, UNDER ANY CLAIM OR THEORY OF STRICT LIABILITY, OR ARE CAUSED, IN WHOLE OR IN PART, BY
OR OUT OF ANY NEGLIGENT ACT OR OMISSION OF ANY KIND BY ANY INDEMNITEE. This Section 10.3(a) shall not apply with respect to Taxes
other than any Taxes that represent Indemnified Liabilities arising from any non-Tax claim.

 

(b)  To
the extent permitted by applicable law, no Credit Party shall assert, and each Credit Party hereby waives, any claim against any Agent
or any Lender or any Related Party of any of the foregoing on any theory of liability, for indirect, consequential, special or punitive
damages (as opposed to direct or actual damages) (whether or not the claim therefor is based on contract, tort or any duty imposed by
any applicable legal requirement) arising out of, in connection with, as a result of, or in any way related to this Agreement or any other
Credit Document or any agreement or instrument contemplated hereby or thereby or referred to herein or therein, the transactions contemplated
hereby or thereby, the syndication of the credit facilities provided for herein, any Loan or the use of the proceeds thereof or any act
or omission or event occurring in connection therewith, and each Credit Party hereby waives, releases and agrees not to sue upon any such
claim for indirect, consequential, special or punitive damages, whether or not accrued and whether or not known or suspected to exist
in its favor.

 

(c)  Each
Credit Party agrees that no Agent or Lender or any Related Party of any of the foregoing will have any liability to any Credit Party or
any Person asserting claims on behalf of or in right of any Credit Party or any other Person in connection with or as a result of this
Agreement or any other Credit Document or any agreement or instrument contemplated hereby or thereby or referred to herein or therein,
the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof or any act or omission or event occurring
in connection therewith except (but subject to Section 10.3(b)), in the case of any Credit Party, to the extent that any losses, claims,
damages, liabilities or expenses have been found by a final, non-appealable judgment of a court of competent jurisdiction to have resulted
from the gross negligence or willful misconduct of such Agent or Lender or its Related Parties in performing its obligations under this
Agreement or any other Credit Document.

 

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10.4. Set-Off. In addition
to any rights now or hereafter granted under applicable law and not by way of limitation of any such rights, upon the occurrence and
during the continuance of any Event of Default and subject to Section 8.2, each Lender is hereby authorized by each Credit Party at any
time or from time to time, without notice to any Credit Party, any such notice being hereby expressly waived, to set-off and to appropriate
and to apply any and all deposits (general or special, including Indebtedness evidenced by certificates of deposit, whether matured or
unmatured, but not including trust accounts) and any other Indebtedness at any time held or owing by such Lender to or for the credit
or the account of any Credit Party against and on account of the obligations and liabilities of any Credit Party to such Lender hereunder
and under the other Credit Documents, including all claims of any nature or description arising out of or connected hereto or thereto,
irrespective of whether or not (a) such Lender shall have made any demand hereunder or (b) the principal of or the interest on the Loans
or any other amounts due hereunder shall have become due and payable and although such obligations and liabilities, or any of them, may
be contingent or unmatured. Each Lender agrees to notify the Administrative Agent promptly after any such set-off and application; provided
that the failure to give such notice shall not affect the validity of such set-off and application.

 

10.5. Amendments and Waivers.
(a) Requisite Lenders’ Consent. None of this Agreement, any other Credit Document or any provision hereof or thereof may
be waived, amended or modified, and no consent to any departure by any Credit Party therefrom may be made, except, subject to the additional
requirements of Sections 10.5(b) and 10.5(c) and as otherwise provided in Section 10.5(d), in the case of this Agreement, pursuant to
an agreement or agreements in writing entered into by the Borrower and the Requisite Lenders, and acknowledged by the Administrative
Agent, and, in the case of any other Credit Document, pursuant to an agreement or agreements in writing entered into by the Administrative
Agent or the Collateral Agent, as applicable, and the Credit Party or Credit Parties that are parties thereto, in each case with the
consent of the Requisite Lenders; provided, any amendment or modification to the Administrative Agent Fee Letter, or waiver of
any rights or privileges thereunder, shall only require the consent of the Borrower and the Agents.

 

(b)  Affected
Lenders’ Consent. In addition to any consent required pursuant to Section 10.5(a), without the written consent of each
Lender that would be directly affected thereby, no waiver, amendment or other modification of this Agreement or any other Credit Document,
or any consent to any departure by any Credit Party therefrom, shall be effective if the effect thereof would be to:

 

(i)  increase
any Commitment or postpone the scheduled expiration date of any Commitment (it being understood that no waiver, amendment or other modification
of any condition precedent, covenant, Default or Event of Default shall constitute an increase in any Commitment of any Lender);

 

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(ii)  extend
the scheduled final maturity date of any Loan;

 

(iii)  waive,
reduce or postpone any scheduled amortization payment (but not any voluntary or mandatory prepayment) of any Loan;

 

(iv)  reduce
the rate of interest on any Loan (other than any waiver of any increase in the interest rate applicable to any Loan pursuant to Section
2.9) or any fee or any premium payable hereunder, or waive or postpone the time for payment of any such interest, fee or premium;

 

(v)  reduce
the principal amount of any Loan;

 

(vi)  waive,
amend or otherwise modify any provision of this Section 10.5(b), Section 10.5(c) or any other provision of this Agreement or any other
Credit Document that expressly provides that the consent of all Lenders is required to waive, amend or otherwise modify any rights thereunder
or to make any determination or grant any consent thereunder (including such provision set forth in Section 10.6(a));

 

(vii)  amend
the percentage specified in the definition of the term “Requisite Lenders” or amend the term “Pro Rata Share”
or waive, amend or otherwise modify Section 2.16 hereof or Section 4.02 of the Security Agreement (and any comparable provision of any
other Collateral Document) in a manner that would alter the pro rata sharing of payments required thereby;

 

(viii)  release
all or substantially all the Collateral from the Liens of the Collateral Documents, or all or substantially all the Guarantor Subsidiaries
from the Guarantees created under the Credit Documents (or limit liability of all or substantially all the Guarantor Subsidiaries in respect
of any such Guarantee), in each case except as expressly provided in the Credit Documents and except in connection with a “credit
bid” undertaken by the Collateral Agent at the direction of the Requisite Lenders pursuant to section 363(k), section 1129(b)(2)(a)(ii)
or any other section of the Bankruptcy Code or any other sale or other disposition of assets in connection with other Debtor Relief Laws
or an enforcement action with respect to the Collateral permitted pursuant to the Credit Documents; or

 

(ix)  except
as provided by operation of law and otherwise permitted hereunder, amend or modify the Superpriority Claims status of the Obligations
under the Orders or under any Credit Document,

 

provided that, for the avoidance of doubt,
all Lenders shall be deemed directly affected by any waiver, amendment or other modification, or any consent, described in the preceding
clauses (vi), (vii), (viii) and (ix).

 

(c)  Other
Consents. No waiver, amendment or other modification of this Agreement or any other Credit Document, or any consent to any departure
by any Credit Party therefrom, shall waive, amend or otherwise modify the rights, duties, privileges, protections, indemnities, immunities
or obligations of, or any fees or other amounts payable to any Agent without the prior written consent of such Agent.

 

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(d) Certain Permitted
Amendments. Notwithstanding anything herein or in any other Credit Document to the contrary:

 

(i) any provision of this Agreement
or any other Credit Document may be amended by an agreement in writing entered into by the Borrower and the Administrative Agent to cure
any obvious error or any ambiguity, omission, defect or inconsistency of a technical nature, so long as the Lenders shall have received
at least three Business Days’ prior written notice thereof and the Administrative Agent shall not have received, within five Business
Days of the date of such notice to the Lenders, a written notice from the Requisite Lenders stating that the Requisite Lenders object
to such amendment;

 

(ii) any provision of this
Agreement or any other Credit Document may be amended by an agreement in writing entered into by the Borrower, the Administrative Agent
and the Lenders that will remain parties hereto after giving effect to such amendment if (A) by the terms of such agreement the Commitments
of each Lender not consenting to the amendment provided for therein shall be reduced to zero upon the effectiveness of such amendment
and (B) at the time such amendment becomes effective, each Lender not consenting thereto receives payment in full of the principal of
and interest accrued on each Loan made by it and all other amounts owing to it or accrued for its account under this Agreement; and

 

(iii) this Agreement and the
other Credit Documents may be amended in the manner provided in Section 10.24.

 

Each Lender hereby expressly authorizes the Administrative
Agent and/or the Collateral Agent to enter into any waiver, amendment or other modification of this Agreement and the other Credit Documents
contemplated by this Section 10.5(d).

 

(e) Requisite Execution
of Amendments, Etc. With the concurrence of any Lender, the Administrative Agent may, but shall have no obligation to, execute waivers,
amendments, modifications or consents on behalf of such Lender. Any waiver or consent shall be effective only in the specific instance
and for the specific purpose for which it is given. No notice to or demand on any Credit Party in any case shall entitle any Credit Party
to any other or further notice or demand in similar or other circumstances. Any amendment, modification, waiver or consent effected in
accordance with this Section 10.5 shall be binding upon each Person that is at the time thereof a Lender and each Person that subsequently
becomes a Lender.

 

10.6. Successors and Assigns;
Participations. (a) Generally. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby. No Credit Party’s rights or obligations under the Credit Documents, and no
interest therein, may be assigned or delegated by any Credit Party without the prior written consent of the Administrative Agent and
each Lender, and any attempted assignment or delegation without such consent shall be null and void. Nothing in this Agreement, expressed
or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby, the participants referred to in Section 10.6(g) (to the extent provided in clause (iii) of such Section) and, to the extent expressly
contemplated hereby, Affiliates of any Agent or any Lender, the other Indemnitees and other express third party beneficiaries hereof)
any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

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(b) Register. The
Borrower, the Administrative Agent, the Collateral Agent, the Lenders shall deem and treat the Persons recorded as Lenders in the Register
as Lenders hereunder for all purposes of this Agreement and the holders and owners of the corresponding Commitments and Loans recorded
therein for all purposes hereof. No assignment or transfer of any Commitment or Loan shall be effective unless and until recorded in
the Register, and following such recording, unless otherwise determined by the Administrative Agent (such determination to be made in
the reasonable discretion of the Administrative Agent, which determination may be conditioned on the consent of the assigning Lender
and the assignee), shall be effective notwithstanding any defect in the Assignment Agreement relating thereto. Each assignment and transfer
shall be recorded in the Register following receipt by the Administrative Agent of the fully executed Assignment Agreement, together
with the required forms and certificates regarding tax matters and any registration and processing fee payable in connection therewith,
in each case as provided in Section 10.6(d); provided that the Administrative Agent shall not be required to accept such Assignment
Agreement or so record the information contained therein if the Administrative Agent reasonably believes that such Assignment Agreement
lacks any written consent required by this Section 10.6 or is otherwise not in proper form, it being acknowledged that the Administrative
Agent shall have no duty or obligation (and shall incur no liability) with respect to obtaining (or confirming the receipt) of any such
written consent or with respect to the form of (or any defect in) such Assignment Agreement, any such duty and obligation being solely
with the assigning Lender and the assignee. Each assigning Lender and the assignee, by its execution and delivery of an Assignment Agreement,
shall be deemed to have represented to the Administrative Agent that all written consents required by this Section 10.6 with respect
thereto (other than the consent of the Administrative Agent and the Borrower, if applicable) have been obtained and that such Assignment
Agreement is otherwise duly completed and in proper form. The date of such recordation of an assignment and transfer is referred to herein
as the “Assignment Effective Date” with respect thereto. Any request, authority or consent of any Person that, at
the time of making such request or giving such authority or consent, is recorded in the Register as a Lender shall be conclusive and
binding on any subsequent holder, assignee or transferee of the corresponding Commitments or Loans.

 

(c) Right to Assign.
Each Lender shall have the right at any time to sell, assign or transfer all or a portion of its rights and obligations under this Agreement,
including all or a portion of its Commitment or Loans or other Obligations owing to it to:

 

(i) any Eligible Assignee of
the type referred to in clause (a) of the definition of the term “Eligible Assignee” upon the giving of notice to the Administrative
Agent and the giving of notice to the Borrower Representative; or

 

(ii) any Eligible Assignee
of the type referred to in clause (b) of the definition of the term “Eligible Assignee”, (x) upon receipt of prior written
consent (such consent not to be unreasonably withheld, conditioned or delayed) of the Administrative Agent and (y)(1) if no Event of
Default exists and the DLP VII Option Period has not yet expired, upon receipt of prior written consent (such consent not to be unreasonably
withheld, conditioned or delayed) of the Borrower Representative or (2) in all other cases, upon the giving of notice to the Borrower
Representative;

 

provided that:

 

(A) in the case of any such
assignment or transfer (other than to any Eligible Assignee meeting the requirements of clause (i) above), the amount of the Commitment
or Loans of the assigning Lender subject thereto shall not be less than $250,000 (with concurrent assignments to Eligible Assignees that
are Affiliates or Related Funds thereof to be aggregated for purposes of the foregoing minimum assignment amount requirements) or, in
each case, such lesser amount as shall be agreed to by the Administrative Agent or as shall constitute the aggregate amount of the Commitments
or Loans of the assigning Lender; and

 

(B) each partial assignment
or transfer shall be of a uniform, and not varying, percentage of all rights and obligations of the assigning Lender hereunder.

 

(d) Mechanics. Assignments
and transfers of Loans and Commitments by Lenders shall be effected by the execution and delivery to the Administrative Agent of an Assignment
Agreement. In connection with all assignments, there shall be delivered to the Administrative Agent (i) to the extent the assignee is
not then already a Lender, an Administrative Questionnaire and such forms, certificates or other evidence, if any, with respect to U.S.
federal income tax withholding matters as the assignee thereunder may be required to deliver pursuant to Section 2.19(f), and (ii) a
registration and processing fee of $3,500 (except that no such registration and processing fee shall be payable if waived by the Administrative
Agent in its sole discretion).

 

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(e) Representations and
Warranties of Assignee. Each Lender, upon execution and delivery hereof or upon succeeding to an interest in the Commitments and
Loans, as the case may be, represents and warrants as of the Closing Date or as of the applicable Assignment Effective Date, as applicable,
that (i) it is an Eligible Assignee, (ii) it has experience and expertise in the making of or investing in commitments or loans such
as the applicable Commitments or Loans, as the case may be, (iii) it will make or invest in, as the case may be, its Commitments
or Loans for its own account in the ordinary course and without a view to distribution of such Commitments or Loans within the meaning
of the Securities Act or the Exchange Act or other United States federal securities laws (it being understood that, subject to the provisions
of this Section 10.6, the disposition of such Commitments or Loans or any interests therein shall at all times remain within its exclusive
control) and (iv) it will not provide any information obtained by it in its capacity as a Lender to the Borrower or any Affiliate of
the Borrower.

 

(f) Effect of Assignment.
Subject to the terms and conditions of this Section 10.6, as of the Assignment Effective Date with respect to any assignment and
transfer of any Commitment or Loan, (i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder
to the extent of its interest in such Commitment or Loan as reflected in the Register and shall thereafter be a party hereto and a “Lender”
for all purposes hereof, (ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned
and transferred to the assignee, relinquish its rights (other than any rights that survive the termination hereof under Section 10.8)
and be released from its obligations hereunder (and, in the case of an assignment covering all the remaining rights and obligations of
an assigning Lender hereunder, such Lender shall cease to be a party hereto as a “Lender” on such Assignment Effective Date,
provided that such assigning Lender shall continue to be entitled to the benefit of all rights that survive the termination hereof
under Section 10.8), and provided further that except to the extent otherwise expressly agreed by the affected parties, no assignment
by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender’s having
been a Defaulting Lender, and (iii) the assigning Lender shall, upon the effectiveness thereof or as promptly thereafter as practicable,
surrender its applicable Notes (if any) to the Administrative Agent for cancellation, and thereupon the Borrower shall issue and deliver
new Notes, if so requested by the assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate
insertions, to reflect the new Commitments and/or outstanding Loans of the assignee and/or the assigning Lender.

 

(g) Participations.

 

(i) Each Lender shall have
the right at any time to sell one or more participations to any Eligible Assignee in all or any part of its Commitments or Loans or in
any other Obligation; provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such
Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Credit Parties,
the Administrative Agent, the Collateral Agent, the Lenders shall continue to deal solely and directly with such Lender in connection
with such Lender’s rights and obligations under this Agreement. Each Lender that sells a participation pursuant to this Section 10.6(g)
shall, acting solely for U.S. federal income tax purposes as a non-fiduciary agent of the Borrower, maintain a register on which it records
the name and address of each participant to which it has sold a participation and the principal amounts (and stated interest) of each
such participant’s interest in the Commitments or Loans or other rights and obligations of such Lender under this Agreement or
any other Credit Document (the “Participant Register”); provided that no Lender shall have any obligation to
disclose all or any portion of the Participant Register to any Person (including the identity of any participant or any information relating
to a participant’s interest in any Commitments, Loans or other rights and obligations under any Credit Document), except to the
extent that such disclosure is necessary to establish that such Commitment, Loan or other right or obligation is in registered form under
Section 5f.103-1(c) of the U.S. Department of the Treasury regulations. Unless otherwise required by the IRS, any disclosure required
by the foregoing sentence shall be made by the relevant Lender directly and solely to the IRS. The entries in the Participant Register
shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register
as the owner of such participation for all purposes under this Agreement, notwithstanding any notice to the contrary. For the avoidance
of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant
Register.

 

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(ii) The holder of any such
participation, other than an Affiliate of the Lender granting such participation, shall not be entitled to require such Lender to take
or omit to take any action hereunder, except that any participation agreement may provide that the participant’s consent must be
obtained with respect to the consent of such Lender to any waiver, amendment, modification or consent that is described in Section 10.5(b)
that affects such participant or requires the approval of all the Lenders.

 

(iii) The Credit Parties agree
that each participant shall be entitled to the benefits of Sections 2.18, 2.19 and 2.24 (subject to the requirements and limitations
therein, including the requirements under Section 2.19(f) (it being understood that the documentation required under Section 2.19(f)
shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to Section 10.6(c); provided that such participant (x) agrees to be subject to the provisions of Sections 2.20 and 2.22
as if it were an assignee under Section 10.6(c) and (y) such participant shall not be entitled to receive any greater payment under Section
2.18 or 2.19 with respect to any participation than the applicable Lender would have been entitled to receive with respect to such participation
sold to such participant, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs
after the participant acquired the applicable participation. To the extent permitted by law, each participant also shall be entitled
to the benefits of Section 10.4 as though it were a Lender, provided that such participant agrees to be subject to Section 2.16
as though it were a Lender.

 

(h) Certain Other Assignments
and Participations. In addition to any other assignment or participation permitted pursuant to this Section 10.6, any Lender may
assign, pledge and/or grant a security interest in all or any portion of its Loans or the other Obligations owed to such Lender, and
its Notes, if any, to secure obligations of such Lender, including to any Federal Reserve Bank as collateral security pursuant to Regulation A
of the Board of Governors and any operating circular issued by any Federal Reserve Bank or to any other central bank; provided
that no Lender, as between the Borrower and such Lender, shall be relieved of any of its obligations hereunder as a result of any such
assignment and pledge; and provided further that in no event shall the applicable Federal Reserve Bank, other central bank, pledgee
or trustee be considered to be a “Lender” hereunder.

 

10.7. Independence of Covenants.
All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such
covenants, the fact that it would be permitted by an exception to, or would otherwise be within the limitations of, another covenant
shall not avoid the occurrence of a Default or an Event of Default if such action is taken or condition exists.

 

10.8. Survival of Representations,
Warranties and Agreements. All covenants, agreements, representations and warranties made
by the Credit Parties in the Credit Documents and in the certificates or other documents delivered in connection with or pursuant to
this Agreement or any other Credit Document shall be considered to have been relied upon by the other parties hereto and shall survive
the execution and delivery of the Credit Documents and the making of any Loans, regardless of any investigation made by any such other
party or on its behalf and notwithstanding that any Agent, Lender may have had notice or knowledge of any Default or Event of Default
or incorrect representation or warranty at the time any Credit Document is executed and delivered or any credit is extended hereunder,
and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount
payable under this Agreement is outstanding and unpaid and so long as the Commitments have not expired or terminated. The provisions
of Sections 2.18, 2.19, 2.24, 9, 10.2, 10.3 and 10.4 shall survive and remain in full force and effect regardless of the consummation
of the transactions contemplated hereby, the repayment of the Loans or the termination of this Agreement or any provision hereof.

 

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10.9. No Waiver; Remedies
Cumulative. No failure or delay on the part of any Agent or Lender in the exercise of any power, right or privilege hereunder or
under any other Credit Document shall impair such power, right or privilege or be construed to be a waiver thereof or of any Default
or Event of Default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege, or any abandonment
or discontinuance of steps to enforce such power, right or privilege, preclude any other or further exercise thereof or the exercise
of any other power, right or privilege. The powers, rights, privileges and remedies of the Agents and the Lenders hereunder and under
the other Credit Documents are cumulative and shall be in addition to and independent of all powers, rights, privileges and remedies
they would otherwise have. Without limiting the generality of the foregoing, the execution and delivery of this Agreement or the making
of any Loan hereunder shall not be construed as a waiver of any Default or Event of Default, regardless of whether any Agent or Lender
may have had notice or knowledge of such Default or Event of Default at the time.

 

10.10. Marshalling; Payments
Set Aside. Subject to the entry of the Final Order, none of the Agents or the Lenders shall be under any obligation to marshal any
assets in favor of any Credit Party or any other Person or against or in payment of any or all of the Obligations. To the extent that
any Credit Party makes a payment or payments to any Agent or Lender (or to the Administrative Agent or the Collateral Agent, on behalf
of any Agent or Lender), or any Agent or Lender enforces any security interests or exercises any right of set-off, and such payment or
payments or the proceeds of such enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent,
preferential or at undervalue, set aside and/or required to be repaid to a trustee, receiver or any other party under any Debtor Relief
Laws, any other state or federal law, common law or any equitable cause, then, to the extent of such recovery, the obligation or part
thereof originally intended to be satisfied, and all Liens, rights and remedies therefor or related thereto, shall be revived and continued
in full force and effect as if such payment or payments had not been made or such enforcement or set-off had not occurred.

 

10.11. Severability.
In case any provision in or obligation hereunder or under any other Credit Document shall be invalid, illegal or unenforceable in any
jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation
in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

10.12. Independent Nature
of Lenders’ Rights. Nothing contained herein or in any other Credit Document, and no action taken by the Lenders pursuant hereto
or thereto, shall be deemed to constitute the Lenders as a partnership, an association, a joint venture or any other kind of entity.
The amounts payable at any time hereunder to each Lender shall be a separate and independent debt, and each Lender shall be entitled
to protect and enforce its rights arising hereunder and it shall not be necessary for any other Lender to be joined as an additional
party in any proceeding for such purpose.

 

10.13. Headings. Section headings
herein are included herein for convenience of reference only and shall not constitute a part hereof for any other purpose or be given
any substantive effect.

 

10.14. APPLICABLE LAW.
THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW
ARISING OUT OF THE SUBJECT MATTER HEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) SHALL BE GOVERNED BY, AND SHALL
BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK AND TO THE EXTENT APPLICABLE, THE BANKRUPTCY CODE.

 

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10.15. CONSENT TO
JURISDICTION. SUBJECT TO CLAUSE (E) BELOW, ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY PARTY HERETO ARISING OUT OF OR RELATING
HERETO OR ANY OTHER CREDIT DOCUMENT, OR ANY OF THE OBLIGATIONS, SHALL BE BROUGHT EXCLUSIVELY IN THE BANKRUPTCY COURT AND, IF THE
BANKRUPTCY COURT DOES NOT HAVE, OR ABSTAINS FROM JURISDICTION, IN ANY FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN THE
BOROUGH OF MANHATTAN OR, IF THAT COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, IN ANY STATE COURT LOCATED IN THE CITY AND COUNTY
OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH PARTY HERETO, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES,
IRREVOCABLY (A) ACCEPTS GENERALLY AND UNCONDITIONALLY THE EXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS (SUBJECT TO CLAUSE (E)
BELOW); (B) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (C) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH
COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE PARTY AT ITS ADDRESS PROVIDED IN
ACCORDANCE WITH SECTION 10.1; (D) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (C) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION
OVER THE APPLICABLE CREDIT PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE
IN EVERY RESPECT; AND (E) AGREES THAT THE AGENTS AND THE LENDERS RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY
LAW OR TO BRING PROCEEDINGS AGAINST ANY CREDIT PARTY IN THE COURTS OF ANY OTHER JURISDICTION IN CONNECTION WITH THE EXERCISE OF ANY
RIGHTS UNDER ANY CREDIT DOCUMENT OR ANY EXERCISE OF REMEDIES IN RESPECT OF COLLATERAL OR THE ENFORCEMENT OF ANY JUDGMENT, AND HEREBY
SUBMITS TO THE JURISDICTION OF, AND CONSENTS TO VENUE IN, ANY SUCH COURT.

 

10.16. WAIVER OF JURY TRIAL.
EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING
HEREUNDER OR UNDER ANY OF THE OTHER CREDIT DOCUMENTS OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION
OR THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND
ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT
CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL
INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT
EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS
REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL
WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 10.16 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY
TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER CREDIT DOCUMENTS OR TO ANY OTHER DOCUMENTS
OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A
TRIAL BY THE COURT.

 

10.17. Confidentiality.
Each Agent and each Lender shall hold all Confidential Information (as defined below) obtained by such Agent or such Lender in accordance
with such Agent’s and such Lender’s customary procedures for handling confidential information of such nature, it being understood
and agreed by the Borrower that, in any event, the Administrative Agent and the Collateral Agent may disclose Confidential Information
to the Lenders and the other Agents and that each Agent and each Lender may disclose Confidential Information (a) to Affiliates of such
Agent or Lender and to its and their respective Related Parties, independent auditors and other advisors, experts or agents who need
to know such Confidential Information (and to other Persons authorized by a Lender or Agent to organize, present or disseminate such
information in connection with disclosures otherwise made in accordance with this Section 10.17) (it being understood that the Persons
to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and instructed to keep such
Confidential Information confidential or shall otherwise be subject to an obligation of confidentiality), (b) to any potential or
prospective assignee, transferee or participant in connection with the contemplated assignment, transfer or participation of any Loans
or other Obligations or any participations therein or to any direct or indirect contractual counterparties (or the professional advisors
thereto) to any swap or derivative transaction relating to the Borrower or any of its Affiliates and their obligations (provided
that such assignees, transferees, participants, counterparties and advisors are advised of and agree to be bound by either the provisions
of this Section 10.17 or other provisions at least as restrictive as this Section 10.17 or otherwise reasonably acceptable to the
Administrative Agent, the Collateral Agent or the applicable Lender, as the case may be, and the Borrower, including pursuant to the
confidentiality terms set forth in any marketing materials relating to the credit facilities governed by this Agreement), (c) on a confidential
basis, to any rating agency, (d) on a confidential basis, to the CUSIP Service Bureau or any similar agency in connection with the issuance
and monitoring of CUSIP numbers with respect to the Loans, (e) for purposes of establishing a “due diligence” defense or
in connection with the exercise of any remedies hereunder or under any other Credit Document, (f) as required by law or pursuant to legal
or judicial process (in which case, unless specifically prohibited by applicable law or court order, such Agent or such Lender shall
make reasonable efforts to notify the Borrower Representative promptly thereof), (g) as required or requested by any Governmental Authority
or by any regulatory or quasi-regulatory authority (including any self-regulatory organization) having jurisdiction or claiming to have
jurisdiction over such Agent or such Lender or any of their respective Affiliates, (h) received by it on a non-confidential basis from
a source (other than the Borrower or its Affiliates or Related Parties) not known by it to be prohibited from disclosing such information
to such persons by a legal, contractual or fiduciary obligation, (i) to the extent that such information was already in possession of
such Agent or such Lender, as the case may be, or any of its Affiliates or is independently developed by it or any of its Affiliates,
(j) with the consent of the Borrower, and (k) to any other party to this Agreement. For purposes of the foregoing, “Confidential
Information” means, with respect to any Agent or any Lender, any non-public information regarding the business, assets, liabilities
and operations of the Borrower and the Subsidiaries obtained by such Agent or Lender under the terms of this Agreement and identified
as confidential by the Borrower. In addition, each Agent and each Lender may disclose the existence of this Agreement and the information
about this Agreement to market data collectors, similar services providers to the lending industry, and service providers to the Agents
and the Lenders in connection with the administration and management of this Agreement and the other Credit Documents. It is agreed that,
notwithstanding the restrictions of any prior confidentiality agreement binding on any Agent, such parties may disclose Confidential
Information as provided in this Section 10.17.

 

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10.18. Usury Savings Clause.
Notwithstanding any other provision herein, the aggregate interest rate charged with respect to any of the Obligations, including all
charges or fees in connection therewith deemed in the nature of interest under applicable law shall not exceed the Highest Lawful Rate.
If the rate of interest (determined without regard to the preceding sentence) under this Agreement at any time exceeds the Highest Lawful
Rate, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate until the total amount of interest
due hereunder equals the amount of interest that would have been due hereunder if the stated rates of interest set forth in this Agreement
had at all times been in effect. In addition, if when the Loans made hereunder are repaid in full the total interest due hereunder (taking
into account the increase provided for above) is less than the total amount of interest that would have been due hereunder if the stated
rates of interest set forth in this Agreement had at all times been in effect, then to the extent permitted by law, the Borrower shall
pay to the Administrative Agent an amount equal to the difference between the amount of interest paid and the amount of interest that
would have been paid if the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of
the Lenders and the Borrower to conform strictly to any applicable usury laws. Accordingly, if any Lender contracts for, charges, or
receives any consideration that constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically
and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder or be refunded
to the Borrower.

 

10.19. Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original,
but all such counterparts together shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature
page of this Agreement by facsimile or in electronic format (i.e., “pdf” or “tif”) shall be effective as delivery
of a manually executed counterpart of this Agreement.

 

10.20. Effectiveness; Entire
Agreement. Subject to Section 3, this Agreement shall become effective when it shall have been executed by the Administrative Agent
and there shall have been delivered to the Administrative Agent counterparts hereof that, when taken together, bear the signatures of
each of the other parties hereto. THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS CONSTITUTE THE ENTIRE CONTRACT AMONG THE PARTIES RELATING
TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY AND ALL PREVIOUS AGREEMENTS AND UNDERSTANDINGS, ORAL OR WRITTEN, RELATING TO THE SUBJECT
MATTER HEREOF (BUT DO NOT SUPERSEDE ANY PROVISIONS OF ANY FEE LETTER BETWEEN OR AMONG ANY CREDIT PARTIES AND ANY AGENT OR ANY AFFILIATE
OF ANY OF THE FOREGOING THAT BY THE TERMS OF SUCH DOCUMENTS ARE STATED TO SURVIVE THE EFFECTIVENESS OF THIS AGREEMENT, ALL OF WHICH PROVISIONS
SHALL REMAIN IN FULL FORCE AND EFFECT).

 

10.21. PATRIOT Act. Each
Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies each Credit Party that pursuant to the
requirements of the PATRIOT Act it is required to obtain, verify and record information that identifies each Credit Party, which information
includes the name and address of each Credit Party and other information that will allow such Lender or the Administrative Agent, as
applicable, to identify such Credit Party in accordance with the PATRIOT Act.

 

    100

     

    

 

10.22. Electronic Execution
of Assignments. This Agreement, any other Credit Document and any document, amendment,
approval, consent, information, notice, certificate, request, statement, disclosure or authorization related to this Agreement or any
other Credit Document (each a “Communication”), including Communications required to be in writing, may be in the
form of an Electronic Record and may be executed using Electronic Signatures.  Each of the Credit Parties agrees that any Electronic
Signature on or associated with any Communication shall be valid and binding each of the Credit Parties to the same extent as a manual,
original signature, and that any Communication entered into by Electronic Signature, will constitute the legal, valid and binding obligation
of each of the Credit Parties enforceable against such in accordance with the terms thereof to the same extent as if a manually executed
original signature was delivered.   Any Communication may be executed in as many counterparts as necessary or convenient, including
both paper and electronic counterparts, but all such counterparts are one and the same Communication.  For the avoidance of doubt,
the authorization under this paragraph may include, without limitation, use or acceptance by the Administrative Agent, the Collateral
Agent and each of the Lenders of a manually signed paper Communication which has been converted into electronic form (such as scanned
into PDF format), or an electronically signed Communication converted into another format, for transmission, delivery and/or retention.
The Administrative Agent, the Collateral Agent and each of the Lenders may, at its option, create one or more copies of any Communication
in the form of an imaged Electronic Record (“Electronic Copy”), which shall be deemed created in the ordinary course
of the such Person’s business, and destroy the original paper document.  All Communications in the form of an Electronic Record,
including an Electronic Copy, shall be considered an original for all purposes, and shall have the same legal effect, validity and enforceability
as a paper record.  Notwithstanding anything contained herein to the contrary, neither the Administrative Agent nor the Collateral
Agent is under any obligation to accept an Electronic Signature in any form or in any format unless expressly agreed to by the Administrative
Agent or Collateral Agent pursuant to procedures approved by it; provided, further, without limiting the foregoing, (a) to the extent
the Administrative Agent or Collateral Agent has agreed to accept such Electronic Signature, the Administrative Agent, the Collateral
Agent and each of the Lenders shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf of any Credit
Party without further verification and (b) upon the request of the Administrative Agent, the Collateral Agent or any Lender, any Electronic
Signature shall be promptly followed by such manually executed counterpart.  For purposes hereof, “Electronic Record”
and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may
be amended from time to time.

 

10.23. No Fiduciary Duty.
Each Agent, each Lender and their respective Affiliates (collectively, solely for purposes of this paragraph, the “Lenders”)
may have economic interests that conflict with those of the Credit Parties, their equityholders and/or their Affiliates. Each Credit
Party agrees that nothing in the Credit Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship
or fiduciary or other implied duty between any Agent or Lender, on the one hand, and such Credit Party or its equityholders or its Affiliates,
on the other. The Credit Parties acknowledge and agree that (a) the transactions contemplated by the Credit Documents (including the
exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Agents and Lenders,
on the one hand, and the Credit Parties, on the other, and (b) in connection therewith and with the process leading thereto, (i) no Agent
or Lender has assumed an advisory or fiduciary responsibility in favor of any Credit Party, its equityholders or its Affiliates with
respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto
(irrespective of whether any Agent or Lender has advised, is currently advising or will advise any Credit Party, its equityholders or
its Affiliates on other matters) or any other obligation to any Credit Party except the obligations expressly set forth in the Credit
Documents and (ii) each Agent and Lender is acting solely as principal and not as the agent or fiduciary of any Credit Party, its management,
equityholders, creditors or any other Person. Each Credit Party acknowledges and agrees that it has consulted its own legal and financial
advisors to the extent it has deemed appropriate and that it is responsible for making its own independent judgment with respect to such
transactions and the process leading thereto. Each Credit Party agrees that it will not assert, and hereby waives to the maximum extent
permitted by applicable law, any claim that any Agent or Lender has rendered advisory services of any nature or respect, or owes a fiduciary
or similar duty to such Credit Party, in connection with any such transaction or the process leading thereto.

 

10.24. Orders. In the
event of any conflict between the terms of the Orders and the terms of this Agreement or any other Credit Document, the terms of the
Orders shall govern and control.

 

    101

     

    

 

10.25. Borrower Representative.
Holdings is hereby appointed by Borrower as its contractual representative (herein referred to as the “Borrower Representative”)
hereunder and under each other Credit Document, and Borrower irrevocably authorizes the Borrower Representative to act as the contractual
representative of Borrower under this Agreement and the other Credit Documents.

 

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

 

(a) the application of any
Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it
by any party hereto that is an EEA 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 EEA Financial Institution, its parent undertaking,
or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership
will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Credit 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 EEA Resolution Authority.

 

10.27. SPV Credit Facilities.
(a) Nothing contained herein or in any other Credit Document shall be deemed to amend, modify or otherwise vary any term or provision
of any SPV Credit Facility or any other “Transaction Document” (as defined in the DLP IV Credit Agreement) or “Loan
Document” (as defined in the DLP VI Credit Agreement).

 

(b) For purposes of clarification,
none of the following situations will be deemed, on its own, to constitute NFLP or an Affiliate thereof being unable or unwilling to
perform under this Agreement:

 

(i) if (A) a modification to
the form of the Interim Order is required for the Bankruptcy Court to enter the Final Order, (B) clause (ii) of the parenthetical clause
within the definition of Final Order requires such modification to be satisfactory to the Requisite Lenders in their reasonable discretion
and (C) the Requisite Lenders do not approve such modification in their reasonable discretion;

 

(ii) if (A) the Administrative
Agent is not required, pursuant to the second sentence of Section 5.17(a), to agree to a modification of the mechanics of the DLP VII
Transaction described on Exhibit I and (B) the Administrative Agent does not agree to such modification in its reasonable
discretion (or, solely in the case of a modification which would result in a transfer of the life settlement portfolios described on
Schedule 5.17 directly or indirectly to the DLP VII Borrower not occurring pursuant to Section 363 of the Bankruptcy Code,
in its sole discretion);

 

(iii) if any Loan is prepaid
or otherwise repaid, or any Commitment is reduced or terminated in accordance with this Agreement, in each case in whole or in part,
whether voluntarily by the Borrower, by any action of any Agent or Lender or otherwise; or

 

(iv) the Administrative Agent
exercising, or declining to exercise, the DLP VII Option.

 

[Remainder of page intentionally left blank]

 

    102

     

    

 

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

 

		
    GWG HOLDINGS, INC.,

    as Borrower

	 	 
	 	By:	 
	 	 	Name:	                    
	 	 	Title:	 

 

	 	GWG LIFE, LLC,

as Borrower
	 	 
	 	By:	 
	 	 	Name:	               
	 	 	Title:	 

 

	 	GWG LIFE USA, LLC,

as a Guarantor
	 	 
	 	By:	 
	 	 	Name:	     
	 	 	Title:	 

 

	 	GWG DLP Funding V, LLC,

as a Guarantor
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	GWG DLP Funding V Holdings, LLC,

as a Guarantor
	 	 
	 	By:	 
	 	 	Name:	                   
	 	 	Title:	 

 

	 	GWG MCA Capital, Inc.,

as a Guarantor
	 	 
	 	By:	 
	 	 	Name:	              
	 	 	Title:	 

 

[Signature Page to Superpriority Secured Debtor-in-Possession Credit and Guaranty Agreement]

 

     

     

    

 

	 	NATIONAL FOUNDERS LP, as a Lender, the Administrative Agent and the Collateral Agent
	 	 
	 	By:	 
	 	 	Name:	                            
	 	 	Title:	 

 

[Signature Page to Superpriority Secured Debtor-in-Possession
Credit and Guaranty Agreement]

 

     

     

    

 

Schedule 5.17

DLP VII Transaction

 

DLP VII Transaction Terms (at Administrative
Agent’s Sole Option During the DLP VII Option Period)

 

	Initial Advance	
    Greater of:

    

 

		(1)	(70% x Collateral Value) + $ 65 million; and

 

		(2)	the sum of:

 

		(i)	the payoff amount for DLP IV, DLP VI, and this Agreement;

 

		(ii)	the 4-month DLP VII premium reserve amount; and

 

		(iii)	$47 million, net of closing fees, any professional fees and diligence
fees (with the aggregate amount being so netted under this sub-clause (iii) not to exceed $5 million).

 

	Collateral Value	The sum of (i) the NPV of eligible active policies, (ii) amounts on deposit in the Premium Reserve, and (iii) the amount of any pending death benefit claims on eligible policies. 
	 	 
	Valuation Methodology	Consistent with the methodology set forth on Annex D of the DLP VI Credit Agreement and with eligibility criteria substantially similar to Annex A of the DLP VI Credit Agreement. Discount rate to be fixed at 11%.
	 	 
	Valuation Provider	ILS.

 

	Interest Rate	As of any day,

 

		(1)	the Base Interest Rate for the portion of the principal of the
loan as of such day that is less than or equal to 65% of Collateral Value; and

 

		(2)	the Base Interest Rate + 1.50% for the portion of the principal
of the loan as of such day that is greater than 65% of Collateral Value.

 

	Base Interest Rate	
    A fixed rate determined on the closing date,
equal to the weighted average of: 

 

		(1)	5.50%, for the principal amount outstanding under the DLP VI Credit
Agreement immediately prior to being refinanced by the DLP VII Transaction;

 

		(2)	11.00% for $65 million; and

 

		(3)	9.00% for all remaining amounts of the Initial Advance.

 

     

     

    

 

	Interest Payment	Paid current.
	 	 
	Closing Fee	1.00% on the portion of the DLP VII Term Loan used to refinance the DLP IV Credit Agreement and this Agreement.
	 	 
	Term	10 Years.
	 	 
	Prepayment Premium 	
    Prior to 5th anniversary: Interest Make
    Whole + 5%;

    5th to 6th anniversary: 5%;

    6th to 7th anniversary: 4%;

    7th to 8th anniversary: 3%;
    and

    After 8th anniversary: None.

    Payable on the date on which any portion of the principal
    of the loan is due or otherwise repaid, including upon acceleration.

	 	 
	Interest Make Whole	Consistent with DLP VI (i.e., with respect to any prepayment prior to the 5th anniversary, the amount of interest that would have been payable to the 5th anniversary had such prepayment not occurred, discounted at risk-free rate).
	 	 
	Amortization	
    Yr. 1-8:     If
    LTV > 50% or GWG is in BK, all excess cash used to reduce principal balance after payment of premiums, reserves, expenses, interest,
    and any other obligations then due and payable; and

    If LTV ≤ 50% and GWG is not in BK, 50/50 cash spilt after payment of premiums, reserves, expenses, interest, and any other obligations
    then due and payable.

     

    Yr. 9-10:  All excess
    cash used to reduce principal balance after payment of premiums, reserves, expenses, interest, and any other obligations then due and
    payable.

	 	 
	Premium Reserve	4 months funded at closing; 2-6 months thereafter (funded up and down with collections).
	 	 
	Remittance Frequency	Quarterly.
	 	 
	Account Structure	All accounts to be subject to blocked account control agreements.

 

     

     

    

 

Exhibit I

DLP VII Transaction Description

 

At any time during the DLP VII Option Period (but
only on or after the Final Order Entry Date), the Administrative Agent may exercise an option (the “DLP VII Option”)
to consummate the following transaction (the “DLP VII Transaction”) on the fifth (5th) Business Day following the day
on which the Administrative Agent notifies the Borrower of its election to exercise the DLP VII Option (or on such other day that the
Borrower and the Administrative Agent may agree in writing)

 

		1.	GWG Life shall form a newly created special purpose vehicle (the
“DLP VII Parent”) that is similar to GWG DLP Funding Holdings VI, LLC.

 

		2.	The DLP VII Parent shall form a newly created special vehicle
(the “DLP VII Borrower”) that is similar to DLP VI.

 

		3.	The following shall occur contemporaneously:

 

		(a)	NFLP or an Affiliate shall make a term loan (the “DLP
VII Term Loan”) pursuant to documentation substantially similar to that certain DLP VI Credit Agreement and the loan documents
executed in connection therewith (with modifications thereto described in Schedule 5.17 and other appropriate modifications
to be reasonably agreed relating to the Cases, it being agreed that (i) there shall be no “change of control” or similar
provision relating to a change in the ownership of or by any Debtor resulting from any security issued under the Indenture being converted
into, or exchanged for, another security or other property, whether mandatorily or optionally, (ii) any other “change of control”
or similar provision relating to a change in the ownership of any Debtor resulting from the Cases or any plan of reorganization thereunder
shall not result in an event of default under the DLP VII Term Loan agreement but shall result in the lenders thereunder having the right
to request the appointment of an asset manager for DLP VII, which shall be acceptable to DLP VII (not to be unreasonably withheld or
delayed) and whose fees will be paid by DLP VII, (iii) unless waived by the Administrative Agent in its sole discretion, the DLP VII
Transaction shall include a limited guarantee in form and substance substantially similar to the Limited Guarantee (as defined in the
DLP VI Credit Agreement) which shall be delivered by Holdings or any other parent entity as may be determined in connection with the
Cases or any plan of reorganization thereunder (and if delivered by Holdings, shall be permitted to be replaced by a substantially similar
guarantee from any other such parent entity as may be determined in connection with the Cases or any plan of reorganization thereunder)
and (iv) the provision set forth in Section 8.1(j)(ii) of the DLP VI Credit Agreement shall be modified to read: “(ii) any Person
contests in any manner the validity or enforceability of any material provision of any Loan Document, unless (A) such Person is not a
Loan Party or an Affiliate thereof and (B) such contest could not reasonably be expected to result in an adverse determination; or”)
in a principal amount that results in the loan-to-value ratio at closing equaling the Initial Advance Rate set forth on Schedule
5.17.

 

		(b)	The DLP VII Term Loan shall be secured by a first priority perfected
Lien on all of the assets and property of the DLP VII Parent and the DLP VII Borrower, and shall be on the economic terms set forth on
Schedule 5.17.

 

     

     

    

 

		(c)	The proceeds of the DLP VII Term Loan shall be applied in the
following priority: (i) first, after the Borrower’s receipt of a dividend or intercompany transfer by the DLP VII Borrower, and
a contribution or other intercompany transfer thereof by the Borrower to DLP IV and DLP VI, to satisfy in full the obligations of DLP
IV and DLP VI under the SPV Credit Facilities; (ii) second, by the DLP VII Borrower to fund a reserve account as described on Schedule
5.17; (iii) third, after the Borrower’s receipt of a dividend or intercompany transfer by the DLP VII Borrower, to satisfy
in full the Obligations (other than any Obligation that is stated in a Credit Document to survive the termination thereof), including
payment of the Exit Fee (and upon such satisfaction, the Administrative Agent shall deliver a customary payoff letter which shall, amongst
other things, confirm the termination of all Obligations (other than any Obligation that is stated in a Credit Document to survive the
termination thereof) and the release of all Liens granted under the Credit Documents); and (iv) fourth, to the Borrower, for its own
account, by means of a dividend or intercompany transfer by the DLP VII Borrower.

 

		(d)	DLP IV and DLP VI shall distribute their life settlement portfolios
to GWG Life.

 

		(e)	GWG Life shall contribute such life settlement portfolios to the
DLP VII Parent pursuant to Section 363 of the Bankruptcy Code, and the DLP VII Parent shall contribute such life settlement portfolios
to the DLP VII Borrower (or, if required as a condition to the Bankruptcy Court entering the Final Order, the DLP VII Parent or the DLP
VII Borrower shall receive such life settlement portfolios pursuant to Section 363 of the Bankruptcy Code by means of such other means
that is reasonably acceptable to NFLP).

 

		(f)	DLP IV shall forgive the Indebtedness owed to it under the Intercompany
Notes or shall dividend or transfer the Intercompany Notes to GWG Life in which case such notes shall be canceled or otherwise deemed
satisfied.

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