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Document

Exhibit 10.2

EMPLOYMENT AGREEMENT OF
JASON T. SERRANO
This EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into this 23rd day of December, 2021 to be effective as of January 1, 2022 (the “Effective Date”), between New York Mortgage Trust, Inc., a Maryland corporation (the “Company”), and Jason T. Serrano (the “Executive”). This Agreement supersedes and replaces in all respects that certain offer letter, dated January 3, 2019, by and between the Company and the Executive (the “Offer Letter”).  The Executive and the Company are reach referred to herein as a “Party” and collectively as the “Parties.” 
The Executive is presently employed as the President of the Company and will become the Chief Executive Officer of the Company, effective as of the Effective Date. Beginning on the Effective Date, the Company shall employ, and the Executive shall serve, as the Chief Executive Officer of the Company pursuant to this Agreement. 
In order to effect the foregoing, the Company and the Executive wish to enter into this Agreement in order to memorialize the terms of the Executive’s employment, as of the Effective Date, as Chief Executive Officer. Accordingly, in consideration of the premises and the respective covenants and agreements of the parties herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:
1.    Employment.  As of the Effective Date, the Company hereby agrees to continue to employ the Executive, and the Executive hereby agrees to continue to serve the Company, on the terms and conditions set forth herein.
2.    Term.
(a)    The Term of this Agreement will commence on the Effective Date and end on the date immediately preceding the second anniversary of the Effective Date(the “Expiration Date”), unless further extended or sooner terminated as hereinafter provided. “Term” shall mean the period from the Effective Date through the first to occur of the Expiration Date (unless the Term is extended in accordance herewith) or the Date of Termination in the event this Agreement is sooner terminated pursuant to Section 6.
(b)    The Company agrees to provide the Executive with written notice, at least 90 days prior to the Expiration Date, of its determination not to extend the Term of this Agreement (a “Notice of Non-Renewal”). Failure by the Company to provide the Executive with a Notice of Non-Renewal at least 90 days prior to the Expiration Date will result in the automatic extension of the Term for another one-year period after the Expiration Date, and the new Expiration Date will be the first anniversary of the previous Expiration Date for purposes of this Agreement.
(c)    In the event that (i) the Company provides the Executive with a Notice of Non-Renewal in accordance with paragraph (b) above, (ii) the Parties do not enter into a new employment agreement, and (iii) neither the Company nor the Executive terminates the Executive’s employment in accordance with the terms of this Agreement prior to the Expiration Date, then the Executive will be deemed from and after the Expiration Date to be an employee at-will of the Company without the benefit of an employment agreement; provided, however (for the avoidance of doubt) the Executive’s covenants hereunder that survive the end of the Term (including the covenants set forth in Section 8 below) shall remain in full force and effect. 

3.    Position and Material Duties. The Executive shall serve as the Chief Executive Officer of the Company and shall have such responsibilities, duties and authority consistent with such position and as otherwise may from time to time be assigned to the Executive by the Board of Directors of the Company (the “Board”) that are consistent with such responsibilities, duties and authority. In that capacity, the Executive shall be responsible for (a) management of the Company’s day to day business and affairs, (b) implementation of the Company’s policies, (c) financial performance and reporting (external and internal), (d) investor relations, (e) supervision of employees and outside consultants and asset managers, (f) compliance with regulatory, tax and accounting rules and regulations, and (g) management of trading, credit and investment banking relationships (collectively hereinafter, “Material Duties”). The Executive shall also serve as a senior executive officer of certain subsidiaries of the Company, with positions, titles and responsibilities that are suitable for the Chief Executive Officer of the Company, at the reasonable request of the Board without additional compensation. The Executive shall devote substantially all his working time and efforts to the business and affairs of the Company, provided, that nothing in this Agreement shall preclude the Executive from serving as a director or trustee in any of the firms set forth on Exhibit A (or any other firms for which the Executive receives prior written authorization from the Board) or from pursuing personal real estate investments and other personal investments, as long as such activities do not interfere with the Executive’s performance of his duties hereunder.
4.    Place of Performance. In connection with the Executive’s employment by the Company, the Executive shall be based at the principal executive offices of the Company in New York, New York, except for required travel on the Company’s business to an extent substantially consistent with present business travel obligations.
5.    Compensation and Related Matters.
(a)    Base Salary. The Company shall pay the Executive a base salary (the “Base Salary”), which shall be payable in periodic installments according to the Company’s normal payroll practices. The Executive’s Base Salary shall be at the annualized rate of $825,000. During the Term, the Board or the Compensation Committee of the Board (the “Compensation Committee”) shall review the Base Salary at least once a year to determine whether the Base Salary should be increased effective the following January 1. Any increase shall be determined before March 31 of each year and shall be retroactive to January 1. The Base Salary, including any increases, shall not be decreased during the Term. For purposes of this Agreement, the term “Base Salary” shall mean the amount established and adjusted from time to time pursuant to this Section 5(a).
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(b)    Short-Term Incentive Awards.  The Executive shall be eligible to participate in the Company’s annual incentive plan adopted by the Compensation Committee for each fiscal year (including any partial year) during the Term of this Agreement (“Bonus Plan”). The Compensation Committee will adopt a Bonus Plan for each fiscal year during the Term by no later than March 31 of that fiscal year. If the Executive or the Company, as the case may be, satisfies the performance criteria contained in such Bonus Plan for a fiscal year, the Executive shall receive an incentive bonus (the “Incentive Bonus”) in an amount pursuant to such Bonus Plan or as determined by the Compensation Committee, as applicable, and subject to ratification by the Board, if required. The Bonus Plan shall contain both individual and corporate performance goals for each fiscal year established by the Compensation Committee. If the Executive or the Company, as the case may be, fails to satisfy the performance criteria contained in such Bonus Plan for a fiscal year, the Compensation Committee may determine whether any Incentive Bonus shall be payable to Executive for that year, subject to ratification by the Board, if required. The annual Incentive Bonus (if any) shall be paid to the Executive no later than March 14 of the year immediately following the year for which the applicable Bonus Plan was adopted. If the Compensation Committee does not adopt a Bonus Plan for a particular fiscal year, the Executive will be entitled to receive an Incentive Bonus for that year in an amount, if any, that is determined by the Compensation Committee in its discretion.
(c)    Long-Term Incentive Awards. The Company has established the 2010 Stock Incentive Plan and the 2017 Equity Incentive Plan (collectively, the “Stock Incentive Plan”). Subject to the terms and conditions of the Stock Incentive Plan, as amended from time to time, and any awards issued thereunder, the Executive shall be eligible to participate in the Stock Incentive Plan, and shall be eligible to receive equity-based awards under the Stock Incentive Plan. The Compensation Committee shall approve any such awards made to the Executive pursuant to the Stock Incentive Plan and each award shall be governed by the terms and conditions of the Stock Incentive Plan and the applicable award agreement. 
(d)    Benefits.
(i)    Vacation. The Executive shall be entitled to up to four (4) weeks of paid vacation per full calendar year, which shall accrue and be taken in accordance with the Company’s vacation policies as in effect from time to time. The Executive shall not be entitled to carry over any unused vacation time from year to year.
(ii)    Sick and Personal Days. The Executive shall be entitled to sick and personal days in accordance with the policies of the Company as in effect from time to time.
(iii)    Employee Benefits.
(A)    Participation in Employee Benefit Plans. Subject to the terms of any applicable plans, policies or programs as in effect from time to time, the Executive and his spouse and eligible dependents, if any, and their respective designated beneficiaries where applicable, will be eligible for and entitled to participate in any Company sponsored employee benefit plans, including but not limited to benefits such as group health, dental, accident, disability insurance, group life insurance, and a 401(k) plan, as such benefits may be offered from time to time, on a basis no less favorable than that applicable to other executives of the Company.
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(B)    Annual Physical. If the Executive desires an annual physical examination, the Company shall provide, at its cost, a medical examination for the Executive on an annual basis by a licensed physician in the New York, New York metropolitan area selected by the Executive. The results of the examination and any medical information or records regarding the examination will be provided by the physician to the Executive, and not to the Company.
(C)    Directors and Officers Insurance. During the Term and for a period of 24 months thereafter, the Executive shall be entitled to director and officer insurance coverage for his acts and omissions while an officer and director of the Company on a basis no less favorable to him than the coverage provided to other officers and directors.
(iv)    Expenses, Office and Systems Support. The Executive shall be entitled to reimbursement of all reasonable expenses, in accordance with the Company’s policy as in effect from time to time and on a basis no less favorable than that applicable to other executives of the Company, including, without limitation, telephone, reasonable travel and reasonable entertainment expenses incurred by the Executive in connection with the business of the Company, upon the presentation by the Executive of appropriate documentation. The Executive shall also be entitled to appropriate office space, systems support and other critical services necessary for the performance of the Executive’s duties.
6.    Termination. The Executive’s employment hereunder may be terminated without any breach of this Agreement only under the following circumstances:
(a)    Death. The Executive’s employment hereunder shall terminate upon his death. 
(b)    Disability. If, in the written opinion of a qualified physician reasonably agreed to by the Company and the Executive, the Executive shall become unable to perform his duties hereunder due to Disability, the Company may terminate the Executive’s employment hereunder. As used in this Agreement, the term “Disability” shall mean inability of the Executive, due to physical or mental condition, to perform the essential functions of the Executive’s job, after consideration of the availability of reasonable accommodations, for more than 180 total calendar days during any period of 12 consecutive months.
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(c)    For Cause. The Company may terminate the Executive’s employment hereunder for Cause. For purposes of this Agreement, the Company shall have “Cause” to terminate the Executive’s employment hereunder upon a determination by at least a majority of the members of the Board (other than the Executive, if the Executive serves on the Board) at a meeting of the Board called and held for such purpose that Executive (i) has committed fraud or misappropriated, stolen or embezzled funds or property from the Company or an affiliate of the Company or secured or attempted to secure personally any profit in connection with any transaction entered into on behalf of the Company or any affiliate of the Company, (ii) has been convicted of, or entered a plea of guilty or “nolo contendere” to, a felony which in the reasonable opinion of the Board brings Executive into disrepute or is likely to cause material harm to the Company’s (or any affiliate of the Company) business, reputation, financial condition or prospects, (iii) has, notwithstanding not less than 30 days’ prior written notice from the Board, failed to perform (other than by reason of illness or temporary disability) his Material Duties hereunder and has failed to cure same within such 30 days of Executive’s receipt of said written notice, (iv) has violated or breached any material law or regulation to the material detriment of the Company or any affiliates of the Company or its business, or (v) has breached any of his duties or obligations under this Agreement where such breach causes or is reasonably likely to cause material harm to the Company. 
(d)    Without Cause. The Company may at any time terminate the Executive’s employment hereunder without Cause.
(e)    Termination by the Executive.
(i)    The Executive may terminate his employment hereunder (A) for Good Reason by giving the Company a Notice of Termination and terminating his employment, in each case, within ninety (90) days of the initial existence of the condition giving rise to the Executive’s termination of employment for Good Reason or (B) other than for Good Reason by giving the Company a Notice of Termination at least thirty (30) days prior to the Date of Termination.
(ii)    For purposes of this Agreement, “Good Reason” shall mean (A) a failure by the Company or its successors or assigns to comply with any material provision of this Agreement which has not been cured within thirty (30) days after a Notice of Termination has been given by the Executive to the Company, (B) the assignment to the Executive of any Material Duties inconsistent with the Executive’s position with the Company or a substantial adverse alteration in the nature or status of the Executive’s responsibilities without the consent of the Executive, except that (i) a determination by the Nominating and Corporate Governance Committee of the Board of Directors not to nominate the Executive for re-election as a director of the Company or (ii) a failure by the Company’s stockholders to elect the Executive as a director of the Company shall not be deemed to be “Good Reason,” (C) without the consent of the Executive, a material reduction in employee benefits other than a reduction generally applicable to similarly situated executives of the Company, (D) without the consent of the Executive, relocation of the Company’s principal place of business outside of the Borough of Manhattan in the City of New York, or (E) any failure by the Company to pay the Executive Base Salary or any Incentive Bonus to which he is entitled under a Bonus Plan.
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(f)    Any termination of the Executive’s employment by the Company or its successors or assigns or by the Executive (other than termination pursuant to subsection (a) or (b) of this Section 6) shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 12. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall (i) indicate the specific termination provision in this Agreement relied upon, (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated and (iii) if the Executive’s termination of employment is for Good Reason, set forth the condition giving rise to the Executive’s termination of employment for Good Reason.
(g)    “Date of Termination” shall mean, at any time during the Term, (i) if the Executive’s employment is terminated by his death, the date of his death, (ii) if the Executive’s employment is terminated pursuant to subsection (b) above, the date as of which the Company terminated the Executive’s employment following its receipt of the physician’s written opinion, (iii) if the Executive’s employment is terminated pursuant to subsection (c) above, the date specified in the Notice of Termination, (iv) if the Executive’s termination of employment is for Good Reason, the date identified in a written notice from the Executive to the Company, so long as such date is following  the end of the Company’s thirty (30) day cure period described in Section 6(e)(ii) and within the 90-day period required by Section 6(e)(i), and (v) if the Executive’s employment is terminated for any other reason, the date that is set forth in the applicable Notice of Termination.
7.    Compensation Upon Termination, Death or During Disability.
(a)    Death. If the Executive’s employment is terminated by his death, the Company shall, subject to Section 7(f) below, within thirty (30) days following the date of the Executive’s death, pay to the Executive’s designated beneficiary(ies) an amount equal to the Executive’s annual Base Salary for the year in which the termination took place, and an amount equal to the Executive’s target Bonus for the year in which the termination took place.  The Company shall also provide  any other amounts to which the Executive is entitled pursuant to death benefit plans, programs and policies. In addition, all stock options, restricted stock awards and any other equity awards granted by the Company to the Executive shall become fully vested, unrestricted and exercisable as of the Date of Termination; provided, however, that with respect to each award that is subject to a performance-based vesting condition, the extent to which such award shall vest and become earned shall remain subject to the satisfaction of applicable performance metrics calculated through the end of the applicable performance period. The Company shall continue benefits for surviving spouse or other dependents covered under the Executive’s health insurance policy as of the date of Executive’s death for a period of 18 months after the termination date.
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(b)    Disability. During any period that the Executive fails to perform his duties hereunder as a result of his incapacity due to a physical or mental condition (“disability period”), the Executive shall continue to receive his full Base Salary at the rate then in effect for such disability period until the Executive’s employment is terminated pursuant to Section 6(b) hereof. The Executive’s rights under the disability plans, programs and policies maintained by the Company or in connection with employment by the Company shall be determined in accordance with the provisions of such plan. If the Executive’s employment is terminated due to Disability, the Company shall provide the COBRA Subsidy (as defined in Section 7(e) below). In addition, all stock options, restricted stock grants awards and any other equity awards granted by the Company to the Executive shall become fully vested, unrestricted and exercisable as of the Date of Termination; provided, however, that with respect to each award that is subject to a performance-based vesting condition, the extent to which such award shall vest and become earned shall remain subject to the satisfaction of applicable performance metrics calculated through the end of the applicable performance period.
(c)    Cause or other than Good Reason. If the Executive’s employment shall be terminated by the Company for Cause or by the Executive for other than Good Reason, the Company shall pay the Executive his full Base Salary through the Date of Termination at the rate in effect at the time Notice of Termination is given and reimburse the Executive for all reasonable and customary expenses incurred by the Executive in performing services hereunder prior to the Date of Termination in accordance with Section 6(d), and the Company shall have no further obligations to the Executive under this Agreement.
(d)    Termination by the Company without Cause (other than for death or Disability), Termination by the Executive for Good Reason or Termination by the Company due to Non-Renewal. If the Company shall terminate the Executive’s employment other than for death, Disability pursuant to Section 6(b) or Cause, or if the Executive shall terminate his employment for Good Reason or the Executive’s employment hereunder shall be terminated by the Company following delivery by the Company of a Notice of Non-Renewal, then the Company shall pay the Executive any earned and accrued but unpaid installment of Base Salary through the Date of Termination at the rate in effect at the time Notice of Termination is given and all other unpaid and pro rata amounts to which the Executive is entitled as of the Date of Termination under any compensation plan or program of the Company, including without limitation, all accrued but unused vacation time, such payments to be made in a lump sum within sixty (60) days following the Date of Termination. In addition, subject to Section 7(f) below:
(i)    in lieu of any further salary payments to the Executive for periods subsequent to the Date of Termination, the Company shall pay as liquidated damages to the Executive an amount equal to the product of (x) two (2) and (y) the sum of the Executive’s Base Salary in effect at the Date of Termination and the average annual Incentive Bonus earned by the Executive during the two most recently completed fiscal years prior to the year in which the termination event occurs; such payment to be made in a lump sum within sixty (60) days following the Date of Termination. In addition, all stock options, restricted stock awards and any other equity awards granted by the Company to the Executive shall become fully vested, unrestricted and exercisable as of the Date of Termination; provided, however, that with respect to each award that is subject to a performance-based vesting condition, the extent to which such award shall vest and become earned shall remain subject to the satisfaction of applicable performance metrics calculated through the end of the applicable performance period; and
(ii)    the Company shall provide the COBRA Subsidy.
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(e)    If the Executive’s employment hereunder is terminated in circumstances in which Executive is eligible to receive the severance benefits described in Section 7(b) or Section 7(d)(ii) and the Executive complies with Section 7(f), then, if Executive elects to continue coverage for the Executive and the Executive’s spouse and eligible dependents, if any, under the Company’s group health plans pursuant to Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall promptly reimburse the Executive on a monthly basis for the difference between the amount the Executive pays to effect and continue such coverage and the employee contribution amount that similarly situated employees of the Company pay for the same or similar coverage under such group health plans (the “COBRA Subsidy”). Each payment of the COBRA Subsidy shall be paid to the Executive on the Company’s first regularly scheduled pay date in the calendar month immediately following the calendar month in which the Executive submits to the Company documentation of the applicable premium payment having been paid by the Executive, which documentation shall be submitted by the Executive to the Company within thirty (30) days following the date on which the applicable premium payment is paid. The Executive shall be eligible to receive such reimbursement payments until the earliest of: (1) 18 months following the Date of Termination (the “COBRA Expiration Date”); (2) the date the Executive is no longer eligible to receive COBRA continuation coverage; and (3) the date on which the Executive becomes eligible to receive coverage under a group health plan sponsored by another employer (and any such eligibility shall be promptly reported to the Company by the Executive); provided, however, that the election of COBRA continuation coverage and the payment of any premiums due with respect to such COBRA continuation coverage shall remain the Executive’s sole responsibility, and the Company shall not assume any obligation for payment of any such premiums relating to such COBRA continuation coverage.  Notwithstanding the foregoing, if the provision of the benefits described in this Section 7(e) cannot be provided in the manner described above without penalty, tax or other adverse impact on the Company, then the Company and the Executive shall negotiate in good faith to determine an alternative manner in which the Company may provide substantially equivalent benefits to the Executive without such adverse impact on the Company.
(f)    The obligations of the Company to make any payments or provide any benefits (including accelerated vesting of equity-based awards) to Executive required under Section 7(a), Section 7(b), Section 7(d)(i) and (ii), or Section 7(e) hereof shall be conditioned on the timely execution and delivery (and non-revocation in any time provided by the Company to do so) by the Executive (or, in the event of a payment pursuant to Section 7(a), an authorized representative of Executive’s estate) of a general release of claims in form and substance reasonably satisfactory to the Company, which general release of claims shall be provided to the Executive no later than five (5) days following the Date of Termination.    
8.    Covenants of the Executive.
(a)    General Covenants of the Executive. The Executive acknowledges that (i) the principal business of the Company is investing in mortgage-backed securities and other mortgage-related assets (such business, and any and all other businesses that after the date hereof, and from time to time during the Term, become material with respect to the Company’s then-overall business, herein being collectively referred to as the “Business”); (ii) the Company knows of a limited number of persons who have developed the Business; (iii) the Business is, in part, national in scope; (iv) the Executive’s work for the Company and its subsidiaries has given and will continue to give the Executive access to the confidential affairs and proprietary information of the Company and to trade secrets of the Company and its subsidiaries; (v) the covenants and agreements of the Executive contained in this Section 8 are essential to the business and goodwill of the Company; and (vi) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 8.
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(b)    Covenant Against Competition. The covenant against competition described in this Section 8(b) shall apply during the Term and for a period of one (1) year following the Date of Termination (such period, the “Restricted Period”). During the Restricted Period, the Executive covenants that he shall not, directly or indirectly, own, manage, control or participate in the ownership, management, or control of, or be employed or engaged by or otherwise affiliated or associated as an employee, employer, consultant, agent, principal, partner, stockholder, corporate officer, director or in any other individual or representative capacity, engage or participate in any Competing Business (as defined below) in any state or comparable jurisdiction in which the Company conducts Business as of the Date of Termination; provided, however, that, notwithstanding the foregoing, the Executive may invest in securities of any entity, solely for investment purposes and without participating in the business thereof, if (A) such securities are traded on any national securities exchange or the National Association of Securities Dealers, Inc. Automated Quotation System or equivalent non-U.S. securities exchange, (B) the Executive is not a controlling person of, or a member of a group which controls, such entity and (C) the Executive does not, directly or indirectly, own one percent (1%) or more of any class of securities of such entity.
For purposes of this Agreement, “Competing Business” means any real estate investment trust or other investment vehicle whose business strategy is primarily focused on investing in and managing residential mortgage-backed securities and other mortgage-related assets in any geographic region in which the Company engages in the Business.
(c)    All memoranda, notes, lists, records, property and any other tangible product and documents (and all copies thereof) made, produced or compiled by the Executive or made available to the Executive during the Term concerning the Business of the Company and its affiliates shall be the Company’s property and shall be delivered to the Company at any time on request. Notwithstanding the above, the Executive’s contacts and contact data base shall not be the Company’s property. The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information, knowledge or data relating to the Company or any of its affiliated companies, and their respective businesses, which shall have been obtained by the Executive during the Executive’s employment by the Company or any of its affiliated companies and which shall not be or become public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement), and both during and after the Term the Executive shall not use any such information, knowledge or data other than for the benefit of the Company or its affiliate. After termination of the Executive’s employment with the Company for any reason, the Executive shall not, without the prior written consent of the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated by it. The agreement made in this Section 8(c) shall be in addition to, and not in limitation or derogation of, any obligations otherwise imposed by law or by separate agreement upon the Executive in respect of confidential information of the Company.
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(d)    During the Term and for a period of one (1) year following the termination of the Executive’s employment for any reason, the Executive shall not, without the Company’s prior written consent, directly or indirectly, (i) knowingly solicit or knowingly encourage to leave the employment or other service of the Company or any of its affiliates, any employee employed by the Company or its affiliate at the time of the termination thereof or knowingly hire (on behalf of the Executive or any other person or entity) any employee employed by the Company or its affiliate at the time of the termination who has left the employment or other service of the Company or any of its affiliates (or any predecessor of either) within one (1) year of the termination of such employee’s or independent contractor’s employment or other service with the Company and its affiliates; or (ii) whether for the Executive’s own account or for the account of any other person, firm, corporation or other business organization, intentionally interfere with the Company’s or any of its affiliates, relationship with, or endeavor to entice away from the Company or any of its affiliates, any person who during the Executive’s employment with the Company is or was a customer or client of the Company or any of its affiliates (or any predecessor of either). Notwithstanding the above, nothing shall prevent the Executive from soliciting loans, investment capital, or the provision of management services from third parties engaged in the Business if the activities of the Executive facilitated thereby do not otherwise adversely interfere with the operations of the Business.
(e)    The Executive acknowledges and agrees that any breach by him of any of the provisions of Sections 8(b), 8(c) or 8(d) (the “Restrictive Covenants”) would result in irreparable injury and damage for which money damages would not provide an adequate remedy. Therefore, if the Executive breaches, or threatens to commit a breach of, any of the Restrictive Covenants, the Company and its affiliates shall have the right and remedy to have the Restrictive Covenants specifically enforced (without posting bond and without the need to prove damages) by any court having equity jurisdiction, including, without limitation, the right to an entry against the Executive of restraining orders and injunctions (preliminary, mandatory, temporary and permanent) against violations, threatened or actual, and whether or not then continuing, of such covenants. This right and remedy shall be in addition to, and not in lieu of, any other rights and remedies available to the Company and its affiliates under law or in equity (including, without limitation, the recovery of damages). The existence of any claim or cause of action by the Executive, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement of the Restrictive Covenants. The Company has the right to cease making severance payments or otherwise providing severance benefits as set forth in Section 7 above in the event of a material breach of any of the Restrictive Covenants that, if capable of cure and not willful, is not cured within thirty (30) days after receipt of notice thereof from the Company.
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(f)    Permitted Disclosures.  Nothing in this Agreement shall prohibit or restrict the Executive from lawfully (i) initiating communications directly with, cooperating with, providing information to, causing information to be provided to, or otherwise assisting in an investigation by any governmental or regulatory agency, entity, or official(s) (collectively, “Governmental Authorities”) regarding a possible violation of any law; (ii) responding to any inquiry or legal process directed to the Executive individually from any such Governmental Authorities; (iii) testifying, participating or otherwise assisting in an action or proceeding by any such Governmental Authorities relating to a possible violation of law; or (iv) making any other disclosures that are protected under the whistleblower provisions of any applicable law.  Additionally, pursuant to the federal Defend Trade Secrets Act of 2016, the Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (x) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (y) is made to the Executive’s attorney in relation to a lawsuit for retaliation against the Executive for reporting a suspected violation of law; or (z) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  Nothing in this Agreement requires the Executive to obtain prior authorization from the Company before engaging in any conduct described in this paragraph, or to notify the Company that Executive has engaged in any such conduct.
9.    Successors; Binding Agreement. This Agreement shall be binding upon and inure to the benefit of successors and permitted assigns of the parties. This Agreement may not be assigned, nor may performance of any duty hereunder be delegated, by either party without the prior written consent of the other; provided, however, the Company may assign this Agreement to any successor to its business, including but not limited to in connection with any subsequent merger, consolidation, sale of all or substantially all of the assets or stock of the Company or similar transaction involving the Company or a successor corporation.
10.    Parachute Payments. If any amount payable to, or other benefit receivable by the Executive pursuant to this Agreement or under other agreements, plans and agreements is deemed to constitute a “parachute payment” as defined in Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), then such payments or benefits shall be reduced in accordance with, and to the extent required by, the provisions of the Stock Incentive Plan.
11.    Continued Performance. Provisions of this Agreement shall survive the end of the Term and the end any termination of Executive’s employment hereunder if so provided herein or if necessary or desirable fully to accomplish the purposes of such provisions, including, without limitation, the obligations of the Executive under the terms and conditions of Section 8. Any obligation of the Company to make payments to or on behalf of the Executive under Section 7 is expressly conditioned upon the Executive’s continued performance of the Executive’s obligations under Section 8  for the time periods stated in Section 8. The Executive recognizes that, except to the extent, if any, provided in Section 7, the Executive will earn no compensation from the Company after the Date of Termination.
12.    Notices. For the purposes of this Agreement, notices, demands and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered or (unless otherwise specified) mailed by United States certified or registered mail, return receipt requested, postage prepaid, addressed as follows:
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If to the Executive:

Jason T. Serrano
c/o New York Mortgage Trust, Inc.
90 Park Avenue, Floor 23
New York, NY 10016
If to the Company:

New York Mortgage Trust, Inc.
90 Park Avenue, Floor 23
New York, NY 10016
Attention: Compensation Committee
with a copy to:

Vinson & Elkins L.L.P.
2200 Pennsylvania Avenue NW
Suite 500 West
Washington, DC 20037
Attention: Christopher Green, Esq.
or to such other address as any party may have furnished to the others in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.
13.    Miscellaneous. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing signed by the Executive and such officer of the Company as may be specifically designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of New York without regard to its conflicts of law principles.
(a)    Validity. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.
(b)    Counterparts. This Agreement may be executed in one or more counterparts, each of which shall deemed to be in an original but all of which together will constitute one and the same instrument.
(c)    Disputes. 
(i)    Subject to Section 13(c)(i) below, any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by binding arbitration conducted before a single arbitrator in New York, New York in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. The expenses of arbitration shall be borne by the Company.  The decision of the arbitrators shall be reasoned and rendered in writing.  
12

(ii)    Notwithstanding Section 13(c)(i), either Party may make a timely application for, and obtain, judicial emergency or temporary injunctive relief to enforce any of the provisions herein; provided, however, that the remainder of any such dispute (beyond the application for emergency or temporary injunctive relief) shall be subject to arbitration under Section 13(c)(i).
(iii)    This Section 13 is subject to, and shall be governed by, the Federal Arbitration Act, 9 U.S.C. §1, et seq.  By entering into this Agreement and entering into the arbitration provisions of this Section 13, THE PARTIES EXPRESSLY ACKNOWLEDGE AND AGREE THAT THEY ARE KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVING THEIR RIGHTS TO A JURY TRIAL.  Nothing in this Section 13 precludes the Executive from filing a charge or complaint with a federal, state or other governmental administrative agency.
(d)    Section 409A.  The Parties agree that this Agreement is intended to comply with the requirements of Section 409A of the Code and the regulations promulgated thereunder (“Section 409A”) or an exemption therefrom. For purposes of this Agreement, each amount to be paid or benefit to be provided hereunder (including any right to a series of installment payments) shall be construed as a separate identified payment or a right to a series of separate payments for purposes of Section 409A. With respect to any reimbursement of expenses of, or any provision of in-kind benefits to, the Executive, as specified under this Agreement, such reimbursement of expenses or provision of in-kind benefits shall be subject to the following conditions: (i) the expenses eligible for reimbursement or the amount of in-kind benefits provided in one taxable year shall not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable year, except for any medical reimbursement arrangement providing for the reimbursement of expenses referred to in Section 105(b) of the Code; (ii) the reimbursement of an eligible expense shall be made no later than the end of the year after the year in which such expense was incurred; and (iii) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit. Any payments to be made under this Agreement upon a termination of the Executive’s employment shall only be made if such termination of employment constitutes a “separation from service” under Section 409A. Notwithstanding any provision in this Agreement to the contrary, if any payment or benefit provided for herein would be subject to additional taxes and interest under Section 409A if the Executive’s receipt of such payment or benefit is not delayed until the earlier of (x) the date of the Executive’s death or (y) the date that is six (6) months after the Date of Termination (such date, the “Section 409A Payment Date”), then such payment or benefit shall not be provided to the Executive (or the Executive’s estate, if applicable) until the Section 409A Payment Date. Notwithstanding the foregoing, the Company does not make any representations that the payments and benefits provided under this Agreement are exempt from, or compliant with, Section 409A and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Executive on account of non-compliance with Section 409A.
13

(e)    Entire Agreement. Upon the Effective Date, this Agreement shall supersede the Offer Letter, and the Executive shall have no further or future rights pursuant to the Offer Letter and all Company obligations pursuant to the Offer Letter shall be deemed satisfied in full (other than any obligations, if still unsatisfied, to pay the Executive any base salary for services provided in the pay period in which the Effective Date occurs).  From and after the Effective Date, this Agreement shall set forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, with respect to the subject matter hereof. Notwithstanding anything contained herein to the contrary, the Executive shall continue to be employed on an at-will basis, and upon any termination of the Executive’s employment by the Company or its successors or assigns or by the Executive that occurs prior to the Effective Date, this Agreement shall be null and void ab initio and of no force or effect.
[Signatures on next page]

14

IN WITNESS WHEREOF, the parties have executed this Agreement on the date and year first above written.
									
		NEW YORK MORTGAGE TRUST, INC.
		
			
		By:	/s/ Kristine R. Nario-Eng
		Name:	Kristine R. Nario-Eng
		Title:	Chief Financial Officer
			
			
		JASON T. SERRANO
			
			
		/s/ Jason T. Serrano
		Signature	

[Signature Page to Employment Agreement of Jason T. Serrano]

Exhibit A

Permitted Director or Trustee Positions

None.
Exhibit AExhibit 10.1

 

Execution Version

 

Published Deal CUSIP Number: 96758DBC6 

Published Revolver CUSIP Number: 96758DBE2 

Published Term Loan CUSIP Number: 96758DBD4

 

 

$980,000,000

CREDIT AGREEMENT

 

Dated as of December 20, 2021,

 

among

 

WIDEOPENWEST FINANCE, LLC,

as the Borrower,

 

WIDEOPENWEST, INC., 

as Holdings,

 

MORGAN STANLEY SENIOR FUNDING, INC.,

as Administrative Agent, Collateral Agent and Issuing Bank,

 

and

 

THE OTHER LENDERS PARTY HERETO

 

 

 

MORGAN STANLEY SENIOR FUNDING, INC., 

KeyBanc
Capital Markets Inc., 

BofA Securities, Inc., 

Credit
Suisse Loan Funding LLC, 

Goldman
Sachs Bank USA, 

Regions
Capital Markets, a division of Regions Bank, 

Wells
Fargo Securities, LLC 

and 

Manufacturers
and Traders Trust Company,

as Joint Lead Arrangers

 

MORGAN STANLEY SENIOR FUNDING, INC., 

KeyBanc
Capital Markets Inc., 

BofA Securities, Inc., 

Credit
Suisse Loan Funding LLC, 

Goldman
Sachs Bank USA, 

Regions
Capital Markets, a division of Regions Bank, 

and 

Wells
Fargo Securities, LLC,

as Joint Lead Bookrunners

 

     

     

    

 

Table of Contents

 

Page

 

	Article I
	 	 	 
	Definitions and Accounting Terms
	 	 	 
	SECTION 1.01	Defined Terms	1
	SECTION 1.02	Other Interpretive Provisions	87
	SECTION 1.03	Accounting Terms	88
	SECTION 1.04	Rounding	88
	SECTION 1.05	References to Agreements, Laws, etc.	88
	SECTION 1.06	Times of Day and Timing of Payment and Performance	88
	SECTION 1.07	Pro Forma and Other Calculations	88
	SECTION 1.08	Available Amount Transaction	91
	SECTION 1.09	Guaranties of Hedging Obligations	91
	SECTION 1.10	Currency Generally	91
	SECTION 1.11	Letters of Credit	92
	SECTION 1.12	Divisions	92
	SECTION 1.13	Interest Rates	92
	 	 	 
	Article II
	 	 	 
	The Commitments and Borrowings
	 	 	 
	SECTION 2.01	The Loans	92
	SECTION 2.02	Borrowings, Conversions and Continuations of Loans	93
	SECTION 2.03	Letters of Credit	95
	SECTION 2.04	[Reserved]	103
	SECTION 2.05	Prepayments	103
	SECTION 2.06	Termination or Reduction of Commitments	112
	SECTION 2.07	Repayment of Loans	113
	SECTION 2.08	Interest	113
	SECTION 2.09	Fees	114
	SECTION 2.10	Computation of Interest and Fees	114
	SECTION 2.11	Evidence of Indebtedness	115
	SECTION 2.12	Payments Generally	115
	SECTION 2.13	Sharing of Payments	117
	SECTION 2.14	Incremental Facilities	117
	SECTION 2.15	Refinancing Amendments	124
	SECTION 2.16	Extensions of Loans	125
	SECTION 2.17	Defaulting Lenders	128
	SECTION 2.18	Loan Repricing Protection	129
	 	 	 
	Article III
	 	 	 
	Taxes, Increased Costs Protection and Illegality
	 	 	 
	SECTION 3.01	Taxes	129
	SECTION 3.02	Illegality	132
	SECTION 3.03	Inability to Determine Rates	133
	SECTION 3.04	Increased Cost and Reduced Return; Capital Adequacy	134
	SECTION 3.05	Funding Losses	135
	SECTION 3.06	Matters Applicable to All Requests for Compensation	136
	SECTION 3.07	Replacement of Lenders under Certain Circumstances	136

 

    i

     

    

 

Page

 

	SECTION 3.08	Survival	138
	 	 	 
	Article IV
	 	 	 
	Conditions Precedent to Credit Extensions
	 	 	 
	SECTION 4.01	Conditions to Credit Extensions on Closing Date	138
	SECTION 4.02	Conditions to Credit Extensions after Closing Date	139
	 	 	 
	Article V
	 	 	 
	Representations and Warranties
	 	 	 
	SECTION 5.01	Existence, Qualification and Power; Compliance with Laws	140
	SECTION 5.02	Authorization; No Contravention	140
	SECTION 5.03	Governmental Authorization	141
	SECTION 5.04	Binding Effect	141
	SECTION 5.05	Financial Statements; No Material Adverse Effect	141
	SECTION 5.06	Litigation	142
	SECTION 5.07	Labor Matters	142
	SECTION 5.08	Ownership of Property; Liens	142
	SECTION 5.09	Environmental Matters	142
	SECTION 5.10	Taxes	142
	SECTION 5.11	ERISA Compliance	143
	SECTION 5.12	Subsidiaries	143
	SECTION 5.13	Margin Regulations; Investment Company Act	143
	SECTION 5.14	Disclosure	143
	SECTION 5.15	Intellectual Property; Licenses, etc.	144
	SECTION 5.16	Solvency	144
	SECTION 5.17	USA PATRIOT Act; Anti-Terrorism Laws	144
	SECTION 5.18	Collateral Documents	144
	SECTION 5.19	Communications Regulatory Matters	145
	SECTION 5.20	Senior Indebtedness	145
	SECTION 5.21	Beneficial Ownership Certification	145
	 	 	 
	Article VI
	 	 	 
	Affirmative Covenants
	 	 	 
	SECTION 6.01	Financial Statements	146
	SECTION 6.02	Certificates; Other Information	147
	SECTION 6.03	Notices	148
	SECTION 6.04	Payment of Taxes	149
	SECTION 6.05	Preservation of Existence, etc.	149
	SECTION 6.06	Maintenance of Properties	149
	SECTION 6.07	Maintenance of Insurance	149
	SECTION 6.08	Compliance with Laws	150
	SECTION 6.09	Books and Records	150
	SECTION 6.10	Inspection Rights	150
	SECTION 6.11	Covenant to Guarantee Obligations and Give Security	150
	SECTION 6.12	Compliance with Environmental Laws	153
	SECTION 6.13	Further Assurances and Post-Closing Covenant	153
	SECTION 6.14	Use of Proceeds	153
	SECTION 6.15	Maintenance of Ratings	153
	SECTION 6.16	Transactions with Affiliates	153

 

    ii

     

    

 

Page

 

	SECTION 6.17	Change in Nature of Business	157
	SECTION 6.18	Holdings	157
	 	 	 
	Article VII
	 	 	 
	Negative Covenants
	 	 	 
	SECTION 7.01	Liens	158
	SECTION 7.02	Indebtedness	158
	SECTION 7.03	Fundamental Changes	167
	SECTION 7.04	Asset Sales	170
	SECTION 7.05	Restricted Payments	171
	SECTION 7.06	Burdensome Agreements	179
	SECTION 7.07	Accounting Changes	182
	SECTION 7.08	Modification of Terms of Subordinated Indebtedness	182
	SECTION 7.09	Financial Covenant	182
	 	 	 
	Article VIII
	 	 	 
	Events of Default and Remedies
	 	 	 
	SECTION 8.01	Events of Default	183
	SECTION 8.02	Remedies upon Event of Default	185
	SECTION 8.03	Application of Funds	186
	SECTION 8.04	Right to Cure	187
	 	 	 
	Article IX
	 	 	 
	Administrative Agent and Other Agents
	 	 	 
	SECTION 9.01	Appointment and Authorization of the Administrative Agent	188
	SECTION 9.02	Rights as a Lender	189
	SECTION 9.03	Exculpatory Provisions	189
	SECTION 9.04	Lack of Reliance on the Administrative Agent	190
	SECTION 9.05	Certain Rights of the Administrative Agent	190
	SECTION 9.06	Reliance by the Administrative Agent	190
	SECTION 9.07	Delegation of Duties	191
	SECTION 9.08	Indemnification	191
	SECTION 9.09	The Administrative Agent in Its Individual Capacity	191
	SECTION 9.10	Erroneous Payments	192
	SECTION 9.11	Resignation by the Administrative Agent	194
	SECTION 9.12	Collateral Matters	195
	SECTION 9.13	[Reserved]	196
	SECTION 9.14	Administrative Agent May File Proofs of Claim	196
	SECTION 9.15	Appointment of Supplemental Administrative Agents	197
	SECTION 9.16	Intercreditor Agreements	197
	SECTION 9.17	Secured Cash Management Agreements and Secured Hedge Agreements	198
	SECTION 9.18	Withholding Tax	198
	SECTION 9.19	Certain ERISA Matters	198
	 	 	 
	Article X
	 	 	 
	Miscellaneous
	 	 	 
	SECTION 10.01	Amendments, etc.	199

 

    iii

     

    

 

Page

 

	SECTION 10.02	Notices and Other Communications; Facsimile Copies	204
	SECTION 10.03	No Waiver; Cumulative Remedies	205
	SECTION 10.04	Costs and Expenses	205
	SECTION 10.05	Indemnification by the Borrower	206
	SECTION 10.06	Marshaling; Payments Set Aside	207
	SECTION 10.07	Successors and Assigns	207
	SECTION 10.08	Resignation of Issuing Bank	212
	SECTION 10.09	Confidentiality	212
	SECTION 10.10	Setoff	213
	SECTION 10.11	Interest Rate Limitation	214
	SECTION 10.12	Counterparts; Integration; Effectiveness	214
	SECTION 10.13	Electronic Execution of Assignments and Certain Other Documents	214
	SECTION 10.14	Survival of Representations and Warranties	214
	SECTION 10.15	Severability	214
	SECTION 10.16	GOVERNING LAW	215
	SECTION 10.17	WAIVER OF RIGHT TO TRIAL BY JURY	215
	SECTION 10.18	Binding Effect	215
	SECTION 10.19	Lender Action	216
	SECTION 10.20	Use of Name, Logo, etc.	216
	SECTION 10.21	USA PATRIOT Act	216
	SECTION 10.22	Service of Process	216
	SECTION 10.23	No Advisory or Fiduciary Responsibility	216
	SECTION 10.24	Release of Collateral and Guarantee Obligations; Subordination of Liens	217
	SECTION 10.25	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	218
	SECTION 10.26	Acknowledgement Regarding Any Supported QFCs	218

 

    iv

     

    

 

SCHEDULES

 

	1.01(1)	Closing Date Subsidiary Guarantors
	1.01(2)	Mortgaged Properties
	2.01	Commitments
	4.01(1)(c)	Certain Collateral Documents
	4.01(1)(e)	Local Counsel
	5.12	Subsidiaries and Other Equity Investments
	6.13(2)	Post-Closing Matters
	7.01	Existing Liens
	7.02	Existing Indebtedness
	7.05	Existing Investments
	10.02	Administrative Agent’s Office, Certain Addresses for Notices

 

	EXHIBITS	

 

 

Form of

 

	A	Committed Loan Notice
	B-1	Term Note
	B-2	Revolving Note
	C	Compliance Certificate
	D	Assignment and Assumption
	E	Guaranty
	F	Security Agreement
	G-1	Equal Priority Intercreditor Agreement
	G-2	Junior Lien Intercreditor Agreement
	H	United States Tax Compliance Certificates
	I	Solvency Certificate
	J	Discount Range Prepayment Notice
	K	Discount Range Prepayment Offer
	L	Solicited Discounted Prepayment Notice
	M	Acceptance and Prepayment Notice
	N	Specified Discount Prepayment Notice
	O	Solicited Discounted Prepayment Offer
	P	Specified Discount Prepayment Response
	Q	Intercompany Note
	R	Letter of Credit Report

 

    v

     

    

 

CREDIT AGREEMENT

 

This CREDIT AGREEMENT (this “Agreement”)
is entered into as of December 20, 2021, by and among WIDEOPENWEST FINANCE, LLC, a Delaware limited liability company (the “Borrower”),
WIDEOPENWEST, INC., a Delaware corporation, as Holdings, MORGAN STANLEY SENIOR FUNDING, INC. (“MSSF”), as
administrative agent (in such capacity, including any successor thereto, the “Administrative Agent”) under the Loan
Documents, as collateral agent (in such capacity, including any successor thereto, the “Collateral Agent”) under the
Loan Documents and as an Issuing Bank, and each lender from time to time party hereto (collectively, the “Lenders”
and individually, a “Lender”).

 

PRELIMINARY STATEMENTS

 

The Borrower has requested that (a) the Lenders
extend credit to the Borrower in the form of $730,000,000 of Closing Date Term Loans and $250,000,000 of Revolving Commitments on the
Closing Date as secured credit facilities and (b) from time to time on and after the Closing Date, the Lenders lend to the Borrower
and the Issuing Banks issue Letters of Credit for the account of the Borrower, each to provide working capital for, and for other general
corporate purposes of, the Borrower and its Subsidiaries, pursuant to the Revolving Commitments hereunder and pursuant to the terms of,
and subject to the conditions set forth in, this Agreement.

 

The proceeds of the Closing Date Term Loans will
be used on the Closing Date (i) to repay Indebtedness incurred under the Existing Credit Agreement, (ii) to pay the Transaction
Expenses and (iii) amounts required for working capital.

 

The applicable Lenders have indicated their willingness
to lend, and the applicable Issuing Banks have indicated their willingness to issue Letters of Credit, in each case on the terms and subject
to the conditions set forth herein.

 

In consideration of the mutual covenants and agreements
herein contained, the parties hereto covenant and agree as follows:

 

Article I

 

Definitions and Accounting Terms

 

SECTION 1.01       Defined
Terms. As used in this Agreement (including the introductory paragraph hereof and the preliminary statements hereto), the following
terms have the meanings set forth below:

 

“Acceptable Discount” has the
meaning specified in Section 2.05(1)(e)(D)(2).

 

“Acceptable Prepayment Amount”
has the meaning specified in Section 2.05(1)(e)(D)(3).

 

“Acceptance and Prepayment Notice”
means a notice of the Borrower’s acceptance of the Acceptable Discount in substantially the form of Exhibit M.

 

“Acceptance Date” has the meaning
specified in Section 2.05(1)(e)(D)(2).

 

“Acquired Indebtedness” means,
with respect to any specified Person,

 

(1)           Indebtedness
of any other Person existing at the time such other Person is merged, consolidated or amalgamated with or into or became a Restricted
Subsidiary of such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such other Person merging,
amalgamating or consolidating with or into, or becoming a Restricted Subsidiary of, such specified Person, and

 

(2)           Indebtedness
secured by a Lien encumbering any asset acquired by such specified Person.

 

    

     

    

 

“Additional Lender” means, at
any time, any bank, other financial institution or institutional lender or investor that, in any case, is not an existing Lender and
that agrees to provide any portion of any (a) Incremental Loan in accordance with Section 2.14, (b) Other Loans pursuant
to a Refinancing Amendment in accordance with Section 2.15 or (c) Replacement Loans pursuant to Section 10.01; provided
that each Additional Lender shall be subject to the approval of the Administrative Agent, such approval not to be unreasonably withheld,
conditioned or delayed, in each case solely to the extent that any such consent would be required from the Administrative Agent under
Section 10.07(b)(iii)(B) for an assignment of Loans to such Additional Lender, and in the case of Incremental Revolving Commitments
and Other Revolving Commitments and the Issuing Bank, such approval not to be unreasonably withheld, conditioned or delayed, in each
case solely to the extent such consent would be required for any assignment to such Additional Lender under Section 10.07(b)(iii).

 

“Adjusted Term SOFR” means, for
purposes of any calculation, the rate per annum equal to (a) Term SOFR for such calculation plus (b) the Term SOFR Adjustment.

 

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

 

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

 

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

 

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

 

“Affiliate” of any specified
Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such
specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,”
 “controlled by” and “under common control with”), as used with respect to any Person, means the
possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether
through the ownership of voting securities, by agreement or otherwise.

 

“Affiliate Transaction” has the
meaning specified in Section 6.16.

 

“Agent Parties” has the meaning
specified in Section 10.02(4).

 

“Agent-Related Distress Event”
means, with respect to the Administrative Agent or any other Person that directly or indirectly controls the Administrative Agent (each,
an “Agent-Related Distressed Person”), (a) that such Agent-Related Distressed Person is or becomes subject to
a voluntary or involuntary case under any Debtor Relief Law, (b) a custodian, conservator, receiver, or similar official is appointed
for such Agent-Related Distressed Person or any substantial part of such Agent-Related Distressed Person’s assets, or (c) such
Agent-Related Distressed Person is subject to a forced liquidation, makes a general assignment for the benefit of creditors or is otherwise
adjudicated as, or determined by any Governmental Authority having regulatory authority over such Agent-Related Distressed Person or
its assets to be, insolvent or bankrupt; provided that an Agent-Related Distress Event shall not be deemed to have occurred solely
by virtue of the ownership or acquisition of any Equity Interests in the Administrative Agent or any Person that directly or indirectly
controls the Administrative Agent by a Governmental Authority or an instrumentality thereof so long as such ownership interest does not
result in or provide the Administrative Agent 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 the Administrative Agent (or such Governmental Authority or instrumentality)
to reject, repudiate, disavow or disaffirm any contracts or agreements made with the Administrative Agent.

 

    	 	2	 

     

    

 

“Agent-Related Distressed Person”
shall have the meaning provided in the definition of the term Agent-Related Distress Event.

 

“Agent-Related Persons” means
the Agents, together with their respective Affiliates, and the officers, directors, employees, agents, attorney-in-fact, partners, trustees
and advisors of such Persons and of such Persons’ Affiliates.

 

“Agents” means, collectively,
the Administrative Agent, the Collateral Agent and the Supplemental Administrative Agents (if any).

 

“Aggregate Commitments” means
the Commitments of all the Lenders.

 

“Agreement” has the meaning specified
in the introductory paragraph of this Credit Agreement, and shall mean this Credit Agreement, as amended, restated, amended and restated,
modified or supplemented from time to time in accordance with the terms hereof.

 

“AHYDO Payment” means any mandatory
prepayment or redemption pursuant to the terms of any Indebtedness that is intended or designed to cause such Indebtedness not to be
treated as an “applicable high yield discount obligation” within the meaning of Section 163(i) of the Code.

 

“All-In Yield” means, as to any
Indebtedness, the yield thereof, whether in the form of interest rate, margin, OID, upfront fees, a SOFR floor or Base Rate floor (with
such increased amount being determined in the manner described in the final proviso of this definition), or otherwise, in each case,
incurred or payable by the Borrower ratably to all lenders of such Indebtedness; provided that OID and upfront fees shall be equated
to interest rate assuming a 4-year life to maturity (or, if less, the stated life to maturity at the time of incurrence of the applicable
Indebtedness); provided, further, that “All-In Yield” shall not include customary arrangement fees, structuring
fees, commitment fees, underwriting fees, success fees, advisory fees, ticking fees, consent or amendment fees and any similar fees (regardless
of how such fees are computed and whether shared or paid, in whole or in part, with or to any or all lenders) and any other fees not
generally paid ratably to all lenders of such Indebtedness; provided further that, with respect to any Loans of an applicable
Class that includes a SOFR floor or Base Rate floor, (1) to the extent that the Reference Rate on the date that the All-In
Yield is being calculated is less than such floor, the amount of such difference shall be deemed added to the Applicable Rate for such
Loans of such Class for the purpose of calculating the All-In Yield and (2) to the extent that the Reference Rate on the date
that the All-In Yield is being calculated is greater than such floor, then the floor shall be disregarded in calculating the All-In Yield.

 

“Annual Financial Statements”
means the audited consolidated balance sheets and related audited consolidated statements of operations, stockholders’ equity (deficit)
and cash flows of the Borrower and its Subsidiaries for the fiscal year ended December 31, 2020.

 

“Applicable Discount” has the
meaning specified in Section 2.05(1)(e)(C)(2).

 

“Applicable Percentage” means,
in respect of the Revolving Facility, with respect to any Revolving Lender at any time, the percentage (carried out to the ninth decimal
place) of the Revolving Facility represented by such Revolving Lender’s Revolving Commitments at such time, subject to adjustment
as provided in Section 2.17. If the commitment of each Revolving Lender to make Revolving Loans and the obligation of the Issuing
Banks to make L/C Credit Extensions have been terminated pursuant to Section 8.02, or if the Revolving Commitments have otherwise
expired in full, then the Applicable Percentage of each Revolving Lender in respect of the Revolving Facility shall be determined based
on the Applicable Percentage of such Revolving Lender in respect of the Revolving Facility most recently in effect, giving effect to
any subsequent assignments.

 

“Applicable Rate” means a percentage
per annum equal to:

 

(a)           with
respect to Term B Loans, (i) 3.00% for SOFR Loans and (ii) 2.00% for Base Rate Loans.

 

    	 	3	 

     

    

 

(b)           with
respect to Revolving Loans and unused Revolving Commitments and Letter of Credit fees (i) until delivery of financial statements
for the first full fiscal quarter ending after the Closing Date pursuant to Section 6.01, (A) 2.75% for SOFR Loans and Letter
of Credit fees, (B) 1.75% for Base Rate Loans and (C) 0.50% for the Commitment Fee Rate for unused Revolving Commitments and
(ii) thereafter, the following percentages per annum, based upon the Secured Net Leverage Ratio as specified in the most recent
Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(1):

 

	Pricing Level	 	Secured Net
 Leverage Ratio	 	SOFR
 and Letter of Credit 

Fees	 	 	Base Rate	 	 	Commitment
 Fee Rate	 
	1	 	Greater than or equal to 5.00 to 1.00	 	 	3.25	%	 	 	2.25	%	 	 	0.50	%
	2	 	Less than 5.00 to 1.00 and greater than or equal to 4.50 to 1.00	 	 	3.00	%	 	 	2.00	%	 	 	0.50	%
	3	 	Less than 4.50 to 1.00	 	 	2.75	%	 	 	1.75	%	 	 	0.375	%

 

Any increase or decrease in the Applicable Rate
resulting from a change in the Secured Net Leverage Ratio shall become effective as of the first Business Day immediately following the
date a Compliance Certificate is delivered pursuant to Section 6.02(1); provided that, at the option of the Required Facility
Lenders under the Revolving Facility, “Pricing Level 1” (as set forth above) shall apply as of (x) the first Business
Day after the date on which a Compliance Certificate was required to have been delivered but was not delivered, and shall continue to
so apply to and including the date on which such Compliance Certificate is so delivered (and thereafter the pricing level otherwise determined
in accordance with this definition shall apply) or (y) the first Business Day after an Event of Default under Section 8.01(1) or
8.01(6) shall have occurred and be continuing, and shall continue to so apply to but excluding the date on which such Event of Default
is cured or waived (and thereafter the pricing level otherwise determined in accordance with this definition shall apply).

 

Notwithstanding anything to the contrary set forth
in this Agreement (including the then effective Secured Net Leverage Ratio), if (i) the Secured Net Leverage Ratio used to determine
the Applicable Rate or the Commitment Fee Rate, as applicable, for any period is incorrect as a result of any error, misstatement or
misrepresentation contained in any financial statement or Compliance Certificate delivered pursuant to Section 6.01(1) or
(2) or Section 6.02(1), and (ii) as a result thereof, the Applicable Rate or the Commitment Fee Rate, as
applicable, paid to the Lenders and/or the Issuing Banks, as the case may be, at any time pursuant to this Agreement is lower than the
Applicable Rate or the Commitment Fee Rate, as applicable, that would have been payable to the Lenders and/or the Issuing Banks, as the
case may be, had the Applicable Rate or the Commitment Fee Rate, as applicable, been calculated on the basis of the correct Secured Net
Leverage Ratio, the Applicable Rate or the Commitment Fee Rate, as applicable, in respect of such period will be adjusted upwards automatically
and retroactively, and the Borrower shall pay to each Lender and/or each Issuing Bank, as the case may be, such additional amounts (“Additional
Amounts”) as are necessary so that after receipt of such amounts such Lender and/or Issuing Bank, as the case may be, receives
an amount equal to the amount it would have received had the Applicable Rate or the Commitment Fee Rate, as applicable, been calculated
during such period on the basis of the correct Secured Net Leverage Ratio. Additional Amounts shall be payable ten (10) days
following delivery by the Administrative Agent to the Borrower of a notice (which shall be conclusive and binding absent manifest error)
setting forth in reasonable detail the Administrative Agent’s calculation of the amount of any Additional Amounts owed to the Lenders
and/or the Issuing Banks. The payment of Additional Amounts shall be in addition to, and not in limitation of, any other amounts payable
by the Borrower pursuant to Section 2.08 and Section 2.09. Additional Amounts shall constitute “Obligations”.

 

“Appropriate Lender” means, at
any time, (a) with respect to Loans of any Class, the Lenders of such Class and (b) with respect to Letters of Credit,
(i) the relevant Issuing Banks and (ii) the relevant Revolving Lenders.

 

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

 

    	 	4	 

     

    

 

“Arrangers”
means MSSF, KeyBanc Capital Markets Inc., BofA Securities, Inc. (or any of its designated affiliates), Credit Suisse Loan Funding
LLC (acting through such of its affiliates or branches as it deems appropriate), Goldman Sachs Bank USA, Regions Capital Markets, a division
of Regions Bank, Wells Fargo Securities, LLC and Manufacturers and Traders Trust Company, each in its capacity as a joint lead arranger
under this Agreement.

 

“Asset Sale” means:

 

(1)           the
sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions of property or assets
of the Borrower or any Restricted Subsidiary (each referred to in this definition as a “disposition”); or

 

(2)           the
issuance or sale of Equity Interests (other than Preferred Stock or Disqualified Stock of Restricted Subsidiaries issued in compliance
with Section 7.02 and directors’ qualifying shares or shares or interests required to be held by foreign nationals or other
third parties to the extent required by applicable Law) of any Restricted Subsidiary (other than to the Borrower or another Restricted
Subsidiary), whether in a single transaction or a series of related transactions;

 

in each case, other than:

 

(a)           any
disposition of:

 

(i)            Cash
Equivalents or Investment Grade Securities,

 

(ii)           obsolete,
damaged or worn out property or assets in the ordinary course of business or consistent with industry practice or any disposition of
inventory or goods (or other assets) held for sale or no longer used or useful in the ordinary course,

 

(iii)          assets
no longer economically practicable or commercially reasonable to maintain (as determined in good faith by the management of the Borrower),

 

(iv)          improvements
made to leased real property to landlords pursuant to customary terms of leases entered into in the ordinary course of business and

 

(v)           assets
for purposes of charitable contributions or similar gifts to the extent such assets are not material to the ability of the Borrower and
its Restricted Subsidiaries, taken as a whole, to conduct its business in the ordinary course;

 

(b)           the
disposition of all or substantially all of the assets of the Borrower in a manner permitted pursuant to Section 7.03;

 

(c)           any
disposition in connection with the making of any Restricted Payment that is permitted to be made, and is made, under Section 7.04,
any Permitted Investment or any acquisition otherwise permitted under this Agreement;

 

(d)           any
disposition of property or assets or issuance or sale of Equity Interests of any Restricted Subsidiary with an aggregate fair market
value for any individual transaction or series of related transactions of less than $5.0 million;

 

(e)           any
disposition of property or assets or issuance of securities by a Restricted Subsidiary to the Borrower or by the Borrower or a Restricted
Subsidiary to a Restricted Subsidiary;

 

(f)            to
the extent allowable under Section 1031 of the Code, any exchange of like property (excluding any boot thereon) for use in a Similar
Business;

 

    	 	5	 

     

    

 

(g)           (i) the
lease, assignment or sublease, license or sublicense of any real or personal property in the ordinary course of business or consistent
with industry practice and (ii) the exercise of termination rights with respect to any lease, sublease, license or sublicense or
other agreement;

 

(h)           any
issuance, disposition or sale of Equity Interests in, or Indebtedness, assets or other securities of, an Unrestricted Subsidiary;

 

(i)            foreclosures,
condemnation, expropriation, eminent domain or any similar action (including for the avoidance of doubt, any Casualty Event) with respect
to assets;

 

(j)            sales
of accounts receivable, or participations therein, or Securitization Assets or related assets in connection with any Qualified Securitization
Facility, sales of receivables in connection with Receivables Financing Transactions or the disposition of an account receivable in connection
with the collection or compromise thereof in the ordinary course of business or consistent with industry practice or in bankruptcy or
similar proceedings;

 

(k)           any
financing transaction with respect to property built or acquired by the Borrower or any Restricted Subsidiary after the Closing Date,
including asset securitizations permitted hereunder;

 

(l)           the
sale, lease, assignment, license, sublease or discount of inventory, equipment, accounts receivable, notes receivable or other current
assets or communications capacity in the ordinary course of business or consistent with industry practice or the conversion of accounts
receivable to notes receivable or other dispositions of accounts receivable in connection with the collection thereof;

 

(m)           the
licensing or sublicensing of intellectual property or other general intangibles in the ordinary course of business or consistent with
industry practice;

 

(n)           any
surrender or waiver of contract rights or the settlement, release or surrender of contract rights or other litigation claims in the ordinary
course of business or consistent with industry practice;

 

(o)           the
unwinding of any Hedging Obligations;

 

(p)           sales,
transfers and other dispositions of Investments in joint ventures to the extent required by, or made pursuant to, customary buy/sell
arrangements between the joint venture parties set forth in joint venture arrangements and similar binding arrangements;

 

(q)           the
lapse, abandonment or other disposition of intellectual property rights in the ordinary course of business or consistent with industry
practice, which in the reasonable good faith determination of the Borrower, are not material to the conduct of the business of the Borrower
and its Restricted Subsidiaries taken as a whole;

 

(r)           the
granting of a Lien that is permitted under Section 7.01;

 

(s)           the
issuance of directors’ qualifying shares and shares of Capital Stock of Foreign Subsidiaries issued to foreign nationals as required
by applicable Law;

 

(t)           the
disposition of any assets (including Equity Interests) (i) acquired in a transaction permitted hereunder, which assets are not used
or useful in the principal business of the Borrower and its Restricted Subsidiaries or (ii) made in connection with the approval
of any applicable antitrust authority or otherwise necessary or advisable in the good faith determination of the Borrower to consummate
any acquisition permitted hereunder;

 

(u)           dispositions
of property to the extent that such property is exchanged for credit against the purchase price of similar replacement property;

 

    	 	6	 

     

    

 

(v)           dispositions
of property in connection with any Sale-Leaseback Transaction;

 

(w)           the
settlement or early termination of any Permitted Bond Hedge Transaction and the settlement or early termination of any related Permitted
Warrant Transaction; and

 

(x)            the
sales of property or assets for an aggregate fair market value since the date of this Agreement not to exceed $75.0 million.

 

“Asset Sale Percentage” has the
meaning specified in Section 2.05(2)(b)(ii).

 

“Assignee Group” means two or
more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor.

 

“Assignment and Assumption” means
an Assignment and Assumption substantially in the form of Exhibit D-1 or any other form approved by the Administrative Agent.

 

“Attorney Costs” means all reasonable
fees, expenses and disbursements of any law firm or other external legal counsel, to the extent documented and invoiced.

 

“Attributable Indebtedness” means,
on any date, in respect of any Capitalized Lease Obligation of any Person, the amount thereof that would appear as a liability on a balance
sheet of such Person prepared as of such date in accordance with GAAP.

 

“Auction Agent” means (a) the
Administrative Agent or (b) any other financial institution or advisor engaged by the Borrower (whether or not an Affiliate of the
Administrative Agent) to act as an arranger in connection with any Discounted Term Loan Prepayment pursuant to Section 2.05(1)(e);
provided that the Borrower shall not designate the Administrative Agent as the Auction Agent without the written consent of the
Administrative Agent (it being understood that the Administrative Agent shall be under no obligation to agree to act as the Auction Agent);
provided further that neither the Borrower nor any of its Affiliates may act as the Auction Agent.

 

“Auto-Extension Letter of Credit”
has the meaning specified in Section 2.03(2)(c).

 

“Available Incremental Amount”
has the meaning specified in Section 2.14(4).

 

“Available Tenor” means, as of
any date of determination and with respect to the then-current Benchmark, as applicable, (x) if any such Benchmark is a term rate,
any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an Interest Period pursuant
to this Agreement or (y) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof)
that is or may be used for determining any frequency of making payments of interests calculated with reference to such Benchmark, in
each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the
definition of “Interest Period” pursuant to clause (b)(iv) of Section 3.03.

 

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

 

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

 

“Bankruptcy Code” has the meaning
specified in Section 8.02.

 

    	 	7	 

     

    

 

“Base Rate” means for any day
a fluctuating rate per annum (subject (x) solely in the case of the Term Facility to a floor of 1.50% per annum and (y) solely
in the case of the Revolving Facility to a floor of 0.00%) equal to the highest of (a) the Federal Funds Rate plus 1/2 of
1%, (b) the rate of interest in effect for such day as announced from time to time by the Administrative Agent as its “prime
rate” and (c) the Adjusted Term SOFR on such day for an Interest Period of one (1) month plus 1.00% (or, if such
day is not a Business Day, the immediately preceding Business Day); provided, that (x) for the purpose of clause (c),
the Adjusted Term SOFR for any day shall be based on the rate determined on such day at approximately 11:00 a.m. (London, England
time) and (y) if at any time Adjusted Term SOFR is not available, Base Rate shall be calculated without reference to clause (c) above.
The “prime rate” is a rate set by the Administrative Agent based upon various factors including the Administrative Agent’s
costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which
may be priced at, above or below such announced rate. Any change in such rate announced by the Administrative Agent shall take effect
at the opening of business on the day specified in the announcement of such change.

 

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

 

“Base Rate Term SOFR Determination Day”
has the meaning specified in the definition of “Term SOFR”.

 

“Basket” means any amount, threshold
or other value permitted or prescribed with respect to any Lien, Indebtedness, Asset Sale, Investment, Restricted Payment,
transaction value, judgment or other amount under any provision in Articles V, VI, VII or VIII and the definitions related thereto.

 

“Benchmark” means, initially,
the Term SOFR Reference Rate; provided that if a Benchmark Transition Event has occurred with respect to the Term SOFR Reference
Rate or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark
Replacement has replaced such prior benchmark rate pursuant to Section 3.03.

 

“Benchmark Replacement” means,
the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement
Date:

 

(a) Daily Simple SOFR; or

 

(b) the sum of: (i) the alternate benchmark
rate that has been selected by the Administrative Agent in consultation with the Borrower giving due consideration to (A) any selection
or recommendation of a replacement benchmark rate or the mechanism for determining such rate by the Relevant Governmental Body or (B) any
evolving or then-prevailing market convention for determining a benchmark rate as a replacement to the then-current Benchmark for Dollar-denominated
syndicated credit facilities and (ii) the related Benchmark Replacement Adjustment.

 

If the Benchmark Replacement as determined pursuant
to clause (a) or (b) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for purposes
of this Agreement and the other Loan Documents.

 

“Benchmark Replacement Adjustment”
means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment,
or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected
by the Administrative Agent and the Borrower giving due consideration to (x) any selection or recommendation of a spread adjustment,
or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted
Benchmark Replacement by the Relevant Governmental Body or (y) any evolving or then-prevailing market convention for determining
a spread adjustment, or method of calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable
Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities.

 

    	 	8	 

     

    

 

“Benchmark Replacement Date”
means the earliest to occur of the following events with respect to the then-current Benchmark:

 

(1) in the case of clause (1) or (2) of
the definition of “Benchmark Transition Event,” the later of (x) the date of the public statement or publication of
information referenced therein and (y) the date on which the administrator of such Benchmark (or the published component used in
the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof);

 

(2) in the case of clause (3) of the definition
of “Benchmark Transition Event,” the first date on which such Benchmark (or the published component used in the calculation
thereof) has been determined and announced by or on behalf of the administrator of such Benchmark (or such component thereof) or the
regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative or non-compliant with
or non-aligned with the IOSCO Principles for Financial Benchmarks; provided that such non-representativeness, non-compliance or
non-alignment will be determined by reference to the most recent statement or publication referenced in such clause (3) and even
if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.

 

For the avoidance of doubt, the “Benchmark
Replacement Date” will be deemed to have occurred in the case of clause (1) or (2) with respect to any Benchmark upon
the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark
(or the published component used in the calculation thereof).

 

“Benchmark Transition Event”
means the occurrence of one or more of the following events with respect to the then-current Benchmark:

 

(1) a public statement or publication of information
by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such
administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or
indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to
provide any Available Tenor of such Benchmark (or such component thereof);

 

(2) a public statement or publication of information
by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the
Federal Reserve Board, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such
Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component)
or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component),
which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of
such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or publication,
there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);
or

 

(3) a public statement or publication of information
by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) or the regulatory
supervisor for the administrator of such Benchmark (or such component thereof) announcing that all Available Tenors of such Benchmark
(or such component thereof) are not, or as of a specified future date will not be representative or in compliance with or aligned with
the IOSCO Principles for Financial Benchmarks.

 

For the avoidance of doubt, a “Benchmark Transition
Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth
above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation
thereof).

 

“Benchmark Unavailability Period”
means the period (if any) (x) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark
Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 3.03
and (y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and
under any Loan Document in accordance with Section 3.03.

 

    	 	9	 

     

    

 

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

 

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

 

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

 

“BHC Act Affiliate” of a party
means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.

 

“Big Boy Letter” means a letter
from a Lender acknowledging that (1) an assignee may have information regarding Holdings, the Borrower and any Subsidiary of the
Borrower, their ability to perform the Obligations or any other material information that has not previously been disclosed to the Administrative
Agent and the Lenders (“Excluded Information”), (2) the Excluded Information may not be available to such Lender,
(3) such Lender has independently and without reliance on any other party made its own analysis and determined to assign Term Loans
to such assignee pursuant to Section 10.07(h) notwithstanding its lack of knowledge of the Excluded Information and (4) such
Lender waives and releases any claims it may have against the Administrative Agent, such assignee, Holdings, the Borrower and the Subsidiaries
of the Borrower with respect to the nondisclosure of the Excluded Information; or otherwise in form and substance reasonably satisfactory
to such assignee, the Administrative Agent and assigning Lender.

 

“Board of Directors” means, for
any Person, the board of directors or other governing body of such Person or, if such Person does not have such a board of directors
or other governing body and is owned or managed by a single entity, the Board of Directors of such entity, or, in either case, any committee
thereof duly authorized to act on behalf of such Board of Directors. Unless otherwise provided, “Board of Directors” means
the Board of Directors of the Borrower.

 

“Borrower” has the meaning specified
in the introductory paragraph to this Agreement. Upon the consummation of any transaction permitted by Section 7.03(4), “Borrower”
shall mean the Successor Borrower.

 

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

 

“Borrower Offer of Specified Discount Prepayment”
means any offer by any Borrower Party to make a voluntary prepayment of Loans at a specified discount to par pursuant to Section 2.05(1)(e)(B).

 

“Borrower Parties” means the
collective reference to Holdings, the Borrower and each Subsidiary of the Borrower and “Borrower Party” means any
of them.

 

“Borrower Solicitation of Discount Range
Prepayment Offers” means the solicitation by any Borrower Party of offers for, and the corresponding acceptance by a Lender
of, a voluntary prepayment of Loans at a specified range of discounts to par pursuant to Section 2.05(1)(e)(C).

 

“Borrower Solicitation of Discounted Prepayment
Offers” means the solicitation by any Borrower Party of offers for, and the subsequent acceptance, if any, by a Lender of,
a voluntary prepayment of Loans at a discount to par pursuant to Section 2.05(1)(e)(D).

 

“Borrowing” means a borrowing
consisting of Loans of the same Class and Type made, converted or continued on the same date and, in the case of SOFR Loans, having
the same Interest Period.

 

    	 	10	 

     

    

 

“Broker-Dealer Regulated Subsidiary”
means any Subsidiary of the Borrower that is registered as a broker-dealer under the Exchange Act or any other applicable Laws requiring
such registration.

 

“Business Day” means any day
that is not a Legal Holiday.

 

“Cable Franchise Agreement” means
any agreement in which one or more of the Loan Parties or the Restricted Subsidiaries has been granted a franchise, or otherwise licensed
or permitted, by any Governmental Authority to provide cable television services over public rights of way in an identified geographical
location.

 

“Canadian Dollars” means the
lawful currency of Canada.

 

“Capital Expenditures” means,
for any period, the aggregate of all expenditures (whether paid in cash or accrued as liabilities and including in all events all amounts
expended or capitalized under Capitalized Lease Obligations) by the Borrower and the Restricted Subsidiaries during such period that,
in conformity with GAAP, are or are required to be included as capital expenditures on the consolidated statement of cash flows of the
Borrower and the Restricted Subsidiaries.

 

“Capital Stock” means:

 

(1)           in
the case of a corporation, corporate stock or shares in the capital of such corporation;

 

(2)           in
the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated)
of corporate stock;

 

(3)           in
the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and

 

(4)           any
other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions
of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into or exchangeable for Capital
Stock, whether or not such debt securities include any right of participation with Capital Stock.

 

“Capitalized
Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital
lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes
thereto) prepared in accordance with GAAP; provided that all obligations of any Person that are or would have been treated as
operating leases (including for avoidance of doubt, any network lease or any Operating IRU) for purposes of GAAP prior to the issuance
by the Financial Accounting Standards Board on February 25, 2016 of an Accounting Standards Update (the “ASU”)
shall continue to be accounted for as operating leases for purposes of all financial definitions and calculations for purpose of this
Agreement (whether or not such operating lease obligations were in effect on such date) notwithstanding the fact that such obligations
are required in accordance with the ASU (on a prospective or retroactive basis or otherwise) to be treated as Capitalized Lease Obligations
in the financial statements to be delivered pursuant to ‎Section 6.01.

 

“Capitalized Software Expenditures”
means, for any period, the aggregate of all expenditures (whether paid in cash or accrued as liabilities) by a Person and its Restricted
Subsidiaries during such period in respect of licensed or purchased software or internally developed software and software enhancements
that, in conformity with GAAP, are or are required to be reflected as capitalized costs on the consolidated balance sheet of a Person
and its Restricted Subsidiaries.

 

“Captive Insurance Subsidiary”
means any Subsidiary of the Borrower that is subject to regulation as an insurance company (or any Subsidiary thereof).

 

“Cash Collateral” has the meaning
specified in the definition of “Cash Collateralize.”

 

    	 	11	 

     

    

 

“Cash Collateral Account” means
an account held at, and subject to the sole dominion and control of, the Collateral Agent.

 

“Cash Collateralize” means, in
respect of an Obligation, to provide and pledge cash or Cash Equivalents in Dollars as collateral (which with respect to any outstanding
Letter of Credit, shall be in an amount equal to 103% of the L/C Obligations at such date), at a location and pursuant to documentation
in form and substance reasonably satisfactory to the Administrative Agent or the relevant Issuing Bank with respect to any Letter of
Credit, as applicable (and “Cash Collateralization” has a corresponding meaning). “Cash Collateral”
has a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.

 

“Cash Equivalents” means:

 

(1)           Dollars;

 

(2)           (a) 
Euros, Canadian Dollars, Sterling or any national currency of any participating member state of the EMU;

 

(b)           in
the case of any Foreign Subsidiary or any jurisdiction in which the Borrower or any Restricted Subsidiary conducts business, such local
currencies held by it from time to time in the ordinary course of business or consistent with industry practice;

 

(3)           readily
marketable direct obligations issued or directly and fully and unconditionally guaranteed or insured by the U.S. government or any agency
or instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government
with maturities of 36 months or less from the date of acquisition;

 

(4)           certificates
of deposit, time deposits and eurodollar time deposits with maturities of three years or less from the date of acquisition, demand deposits,
bankers’ acceptances with maturities not exceeding three years and overnight bank deposits, in each case with any domestic or foreign
commercial bank having capital and surplus of not less than $500.0 million in the case of U.S. banks and $100.0 million (or the U.S.
dollar equivalent as of the date of determination) in the case of non-U.S. banks;

 

(5)           repurchase
obligations for underlying securities of the types described in clauses (3) and (4) above or clauses (7) and (8) below
entered into with any financial institution or recognized securities dealer meeting the qualifications specified in clause (4) above;

 

(6)           commercial
paper and variable or fixed rate notes rated at least P-2 by Moody’s or at least A-2 by S&P (or, if at any time neither Moody’s
nor S&P is rating such obligations, an equivalent rating from another Rating Agency selected by the Borrower) and in each case maturing
within 36 months after the date of acquisition thereof;

 

(7)           marketable
short-term money market and similar liquid funds having a rating of at least P-2 or A-2 from either Moody’s or S&P, respectively
(or, if at any time neither Moody’s nor S&P is rating such obligations, an equivalent rating from another Rating Agency selected
by the Borrower);

 

(8)           securities
issued or directly and fully and unconditionally guaranteed by any state, commonwealth or territory of the United States or any political
subdivision or taxing authority of any such state, commonwealth or territory or any public instrumentality thereof having maturities
of not more than 36 months from the date of acquisition thereof;

 

(9)           readily
marketable direct obligations issued or directly and fully and unconditionally guaranteed by any foreign government or any political
subdivision or public instrumentality thereof, in each case having an Investment Grade Rating from either Moody’s or S&P (or,
if at any time neither Moody’s nor S&P is rating such obligations, an equivalent rating from another Rating Agency selected
by the Borrower) with maturities of 36 months or less from the date of acquisition;

 

    	 	12	 

     

    

 

(10)         Indebtedness
or Preferred Stock issued by Persons with a rating of “A” or higher from S&P or “A2” or higher from Moody’s
(or, if at any time neither Moody’s nor S&P is rating such obligations, an equivalent rating from another Rating Agency selected
by the Borrower) with maturities of 36 months or less from the date of acquisition;

 

(11)         Investments
with average maturities of 36 months or less from the date of acquisition in money market funds rated AAA- (or the equivalent thereof)
or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s (or, if at any time neither Moody’s nor S&P
is rating such obligations, an equivalent rating from another Rating Agency selected by the Borrower);

 

(12)         investment
funds investing substantially all of their assets in securities of the types described in clauses (1) through (11) above; and

 

(13)         solely
with respect to any Captive Insurance Subsidiary, any investment that the Captive Insurance Subsidiary is not prohibited to make in accordance
with applicable Law.

 

In the case of Investments by any Foreign Subsidiary or Investments
made in a country outside the United States of America, Cash Equivalents will also include (i) investments of the type and maturity
described in clauses (1) through (13) above of foreign obligors, which investments or obligors (or the parents of such obligors)
have ratings described in such clauses or equivalent ratings from comparable foreign rating agencies and (ii) other short-term investments
utilized by Foreign Subsidiaries in accordance with normal investment practices for cash management in investments analogous to the foregoing
investments in clauses (1) through (13) and in this paragraph.

 

Notwithstanding the foregoing, Cash Equivalents will include amounts
denominated in currencies other than those set forth in clauses (1) and (2) above, provided that such amounts, except
amounts used to pay non-Dollar denominated obligations of the Borrower or any Restricted Subsidiary in the ordinary course of business,
are converted into any currency listed in clause (1) or (2) above as promptly as practicable and in any event within ten (10) Business
Days following the receipt of such amounts.

 

“Cash Management Agreement” means
any agreement entered into from time to time by Holdings, the Borrower or any Restricted Subsidiary in connection with cash management
services for collections, other Cash Management Services and for operating, payroll and trust accounts of such Person, including automatic
clearing house services, controlled disbursement services, electronic funds transfer services, information reporting services, lockbox
services, stop payment services and wire transfer services.

 

“Cash Management Bank” means
any Person that is an Agent, a Lender or an Affiliate of an Agent or Lender on the Closing Date or at the time it entered into a Secured
Cash Management Agreement, whether or not such Person subsequently ceases to be an Agent, a Lender or an Affiliate of an Agent or Lender.

 

“Cash Management Obligations”
means obligations owed by Holdings, the Borrower or any Restricted Subsidiary to any Cash Management Bank in connection with, or in respect
of, any Cash Management Services.

 

“Cash Management Services” means
(a) commercial credit cards, merchant card services, purchase or debit cards, including non-card e-payables services, (b) treasury
management services (including controlled disbursement, overdraft, automatic clearing house fund transfer services, return items and
interstate depository network services), (c) foreign exchange, netting and currency management services and (d) any other demand
deposit or operating account relationships or other cash management services, including under any Cash Management Agreements.

 

“Casualty Event” means any event
that gives rise to the receipt by the Borrower or any Restricted Subsidiary of any insurance proceeds or condemnation awards in respect
of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such equipment, fixed assets
or real property.

 

    	 	13	 

     

    

 

“CFC” means a “controlled
foreign corporation” within the meaning of Section 957(a) of the Code.

 

“CFC Holdco” means a Domestic
Subsidiary that is treated as a disregarded entity for U.S. federal income tax purposes that has no material assets other than (directly
or indirectly through disregarded entities) the Capital Stock or indebtedness of one or more Subsidiaries that are CFCs.

 

“Change in Law” means the occurrence,
after the Closing Date, of any of the following: (a) the adoption of any law, rule, regulation or treaty (excluding the taking effect
after the Closing Date of a law, rule, regulation or treaty adopted prior to the Closing Date), (b) any change in any law, rule,
regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the making
or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority. It is understood
and agreed that (i) the Dodd–Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203, H.R. 4173), all Laws
relating thereto and all interpretations and applications thereof 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 regulatory authorities, in each case pursuant to Basel III, shall, for the purpose of this Agreement, in each case be deemed
to be a Change in Law, regardless of the date enacted, adopted, implemented or issued.

 

“Change of Control” means the
occurrence of any of the following after the Closing Date:

 

(1)           (a) any
Person (other than a Permitted Holder) or (b) Persons (other than one or more Permitted Holders) constituting a “group”
(as such term is used in Sections 13(d) and 14(d) of the Exchange Act), becoming the “beneficial owner” (as defined
in Rules 13(d)-3 and 13(d)-5 under the Exchange Act), directly or indirectly, of Equity Interests of the Borrower representing more
than fifty percent (50%) of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Borrower
and the percentage of aggregate ordinary voting power so held is greater than the percentage of the aggregate ordinary voting power represented
by the Equity Interests of the Borrower beneficially owned, directly or indirectly, in the aggregate by the Permitted Holders (it being
understood and agreed that for purposes of measuring beneficial ownership held by any Person that is not a Permitted Holder, Equity Interests
held by any Permitted Holder will be excluded);

 

(2)           any
 "Change of Control Trigger Event" (or any comparable term, including a "Change in Control" in the event no similar
additional requirements exist for such Indebtedness being subject to an offer or resulting in an event of default) in any document pertaining
to any Indebtedness having with an aggregate outstanding principal amount in excess of the Threshold Amount; or

 

(3)           the
Borrower ceases to be directly or indirectly wholly owned by Holdings;

 

unless, in the case of clause (1) above, the Permitted Holders
have, at such time, directly or indirectly, the right or the ability by voting power, contract or otherwise to elect or designate for
election at least a majority of the board of directors of the Borrower.

 

“Change
of Control Trigger Period” means the 60 day period after the earlier of (i) the occurrence of a Change of Control
or (ii) public notice of the occurrence of a Change of Control or the intention by the Borrower to effect a Change of Control (which,
if and until a Rating Agency publishes a rating during such period, shall be extended so long as the corporate credit rating of the Borrower
is under publicly announced consideration for a possible downgrade by any of the Rating Agencies).

 

    	 	14	 

     

    

 

 

“Class” (a) when used with
respect to Lenders, refers to whether such Lenders have Loans or Commitments with respect to a particular Class of Loans or Commitments,
(b) when used with respect to Commitments, refers to whether such Commitments are Term Commitments, Revolving Commitments, Incremental
Revolving Commitments, Other Revolving Commitments, Incremental Term Commitments, Commitments in respect of any Class of Replacement
Loans, Extended Revolving Commitments of a given Extension Series or Other Term Loan Commitments of a given Class of Other Loans,
in each case not designated part of another existing Class and (c) when used with respect to Loans or a Borrowing, refers to
whether such Loans, or the Loans comprising such Borrowing, are Closing Date Term Loans, Term B Loans, Revolving Loans under the Closing
Date Revolving Facility, Incremental Term Loans, Incremental Revolving Loans, Other Revolving Loans, Replacement Loans, Extended
Term Loans, Loans made pursuant to Extended Revolving Commitments, or Other Term Loans, in each case not designated part of another existing
Class. Commitments (and, in each case, the Loans made pursuant to such Commitments) that have different terms and conditions shall be
construed to be in different Classes. Commitments (and, in each case, the Loans made pursuant to such Commitments) that have identical
terms and conditions shall be construed to be in the same Class.

 

“Closing Date” means the first
date on which all the conditions precedent in Section 4.01 are satisfied or waived in accordance with Section 10.01, and the
Closing Date Term Loans were made to the Borrower, which date was February 1, 2017.

 

“Closing Date Loans” means the
Closing Date Term Loans and any Closing Date Revolving Borrowing.

 

“Closing Date Refinancing” means
the repayment of all outstanding Indebtedness under the Existing Credit Agreement (it being understood that letters of credit may remain
outstanding to the extent collateralized or backstopped on the Closing Date).

 

“Closing Date Revolving Borrowing”
means one or more Borrowings of Revolving Loans on the Closing Date in accordance with the requirements specified or referred to in Section 6.14;
provided, that, without limitation, Letters of Credit may be issued on the Closing Date to backstop or replace letters of credit
outstanding on the Closing Date (including deemed issuances of Letters of Credit under this Agreement resulting from an existing issuer
of letters of credit outstanding on the Closing Date agreeing to become an Issuing Bank under this Agreement).

 

“Closing Date Revolving Facility”
means the Revolving Commitments of Revolving Credit Lenders under this Agreement on the Closing Date.

 

“Closing Date Term Loans” means
all Term Loans outstanding under this Agreement on the Closing Date.

 

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

 

“Collateral” means all the “Collateral”
(or equivalent term) as defined in any Collateral Document and the Mortgaged Properties, if any.

 

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

 

“Collateral and Guarantee Requirement”
means, at any time, the requirement that:

 

(1)           the
Collateral Agent shall have received each Collateral Document required to be delivered (a) on the Closing Date pursuant to Section 4.01(1)(c) or
(b) pursuant to the Security Agreement or Section 6.11 or 6.13 at such time required by the Security Agreement or by such Sections
to be delivered, in each case, duly executed by each Loan Party that is party thereto;

 

(2)           all
Obligations shall have been unconditionally guaranteed by (a) Holdings (or any successor thereto), (b) each Restricted Subsidiary
of Holdings that is a wholly owned Material Subsidiary (other than any Excluded Subsidiary), which as of the Closing Date shall include
those that are listed on Schedule 1.01(1) hereto and (c) any Restricted Subsidiary of Holdings that Guarantees (or is
the borrower or issuer of) (i) any Subordinated Indebtedness, (ii) any Permitted Incremental Equivalent Debt or (iii) any
Credit Agreement Refinancing Indebtedness (the Persons in the preceding clauses (a) through (c) collectively, the “Guarantors”);

 

    	 	15	 

     

    

 

(3)           except
to the extent otherwise provided hereunder or under any Collateral Document, the Obligations and the Guaranty shall have been secured
by a perfected security interest, subject only to Liens permitted by Section 7.01, in

 

(a)           all
the Equity Interests of the Borrower,

 

(b)           all
Equity Interests of each direct, wholly owned Material Domestic Subsidiary (other than any CFC Holdco) that is directly owned by any Loan
Party, and

 

(c)           65%
of the issued and outstanding Voting Stock and 100% of the issued and outstanding Equity Interests that are not Voting Stock of each (i) wholly
owned Material Domestic Subsidiary that is (a) a CFC Holdco and (b) directly owned by a Loan Party and (ii) wholly owned
Material Foreign Subsidiary that is directly owned by a Loan Party;

 

(4)           except
to the extent otherwise provided hereunder or under any Collateral Document, including subject to Liens permitted by Section 7.01,
and in each case subject to exceptions and limitations otherwise set forth in this Agreement and the Collateral Documents, the Obligations
and the Guaranty shall have been secured by a security interest in substantially all tangible and intangible personal property of the
Borrower and each Guarantor (including accounts other than Securitization Assets), inventory, equipment, investment property, contract
rights, applications and registrations of intellectual property filed in the United States, other general intangibles, and proceeds of
the foregoing (in each case, other than Excluded Assets), in each case,

 

(a)           that
has been perfected (to the extent such security interest may be perfected) by

 

(i)           delivering
certificated securities and instruments, in which a security interest can be perfected by physical control, in each case to the extent
required hereunder or the Security Agreement;

 

(ii)           filing
financing statements under the Uniform Commercial Code of any applicable jurisdiction,

 

(iii)          making
any necessary filings with the United States Patent and Trademark Office or United States Copyright Office, or

 

(iv)          filings
in the applicable real estate records with respect to Mortgaged Properties (or any fixtures related to Mortgaged Properties) to the extent
required by the Collateral Documents and

 

(b)           with
the priority required by the Collateral Documents; provided that any such security interests in the Collateral shall be subject
to the terms of the Intercreditor Agreements to the extent applicable; and

 

(5)           the
Collateral Agent shall have received counterparts of a Mortgage, together with the other deliverables described in Section 6.11(2)(b),
with respect to each Material Real Property listed on Schedule 1.01(2) to the extent required to be delivered pursuant to
Section 6.11 or Section 6.13 (the “Mortgaged Properties”) duly executed and delivered by the record owner
of such property within the time periods set forth in said Sections; provided that to the extent any Mortgaged Property is located
in a jurisdiction which imposes mortgage recording taxes, intangibles tax, documentary tax or similar recording fees or taxes, (a) the
relevant Mortgage shall not secure an amount in excess of the fair market value of the Mortgaged Property subject thereto and (b) the
relevant Mortgage shall not secure the Indebtedness in respect of Letters of Credit or the Revolving Facility to the extent those jurisdictions
impose such aforementioned taxes on paydowns or re-advances applicable to such Indebtedness unless it is feasible to limit recovery to
a capped amount that would not be subject to re-borrowing.

 

    	 	16	 

     

    

 

The foregoing definition shall not require, and the
Loan Documents shall not contain any requirements as to, the creation, perfection or maintenance of pledges of, or security interests
in, Mortgages on, or the obtaining of Mortgage Policies, surveys, abstracts or appraisals or taking other actions with respect to, any
Excluded Assets.

 

The Collateral Agent may grant extensions of time
for the creation, perfection or maintenance of security interests in, or the execution or delivery of any Mortgage and the obtaining of
title insurance, surveys or Opinions of Counsel with respect to, particular assets (including extensions beyond the Closing Date for the
creation, perfection or maintenance of security interests in the assets of the Loan Parties on such date) where it reasonably determines,
in consultation with the Borrower, that creation, perfection or maintenance cannot be accomplished without undue effort or expense by
the time or times at which it would otherwise be required by this Agreement or the Collateral Documents.

 

No actions required by the Laws of any non-U.S. jurisdiction
shall be required in order to create any security interests in any assets or to perfect or make enforceable such security interests in
any assets (including any intellectual property registered or applied for in any non-U.S. jurisdiction) (it being understood that there
shall be no security agreements or pledge agreements governed under the Laws of any non-U.S. jurisdiction). No perfection through control
agreements or perfection by “control” shall be required with respect to any assets (other than in respect any promissory note
in excess of $10.0 million, Indebtedness of any Restricted Subsidiary that is not a Guarantor that is owing to any Loan Party (which
may be evidenced by the Intercompany Note and pledged to the Collateral Agent) and certificated Equity Interests of the wholly owned Restricted
Subsidiaries that are Material Subsidiaries otherwise required to be pledged pursuant to the Collateral Documents to the extent required
under clause (3) above). There shall be no (x) Guaranties governed under the laws of any non-U.S. jurisdiction, (y) requirement
to obtain any landlord waivers, estoppels or collateral access letters or (z) requirement to perfect a security interest in any letter
of credit rights, other than by the filing of a UCC financing statement.

 

“Collateral Documents” means,
collectively, the Security Agreement, the Intellectual Property Security Agreements, the Mortgages (if any), each of the collateral assignments,
security agreements, pledge agreements or other similar agreements delivered to the Administrative Agent, Collateral Agent or the Lenders
pursuant to Sections 4.01(1)(c), 6.11 or 6.13 and each of the other agreements, instruments or documents that creates or purports to create
a Lien in favor of the Collateral Agent for the benefit of the Secured Parties.

 

“Commitment”
means a Revolving Commitment, Incremental Revolving Commitment, Incremental Term Commitment, Other Revolving Commitment,
Other Term Loan Commitment, Extended Revolving Commitment of a given Extension Series, or any commitment in respect of Replacement Loans,
as the context may require.

 

“Commitment Fee Rate” means a
percentage per annum equal to the Applicable Rate set forth in the “Commitment Fee Rate” column of the chart in the definition
of “Applicable Rate.”

 

“Committed Loan Notice” means
a notice of (1) a Borrowing with respect to a given Class of Loans, (2) a conversion of Loans of a given Class from
one Type to the other or (3) a continuation of SOFR Loans of a given Class, pursuant to Section 2.02(1), which, if in writing,
shall be substantially in the form of Exhibit A, or such other form as may be approved by the Administrative Agent and the
Borrower (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent
and the Borrower), appropriately completed and signed by a Responsible Officer of the Borrower.

 

“Commodity Exchange Act” means
the Commodity Exchange Act (7 U.S.C. §1 et. seq.), as amended from time to time and any successor statute.

 

“Communications Laws” means, collectively,
the Communications Act of 1934, as amended, and the rules, regulations and published policies of the FCC promulgated thereunder.

 

“Compensation Period” has the
meaning specified in Section 2.12(3)(b).

 

    	 	17	 

     

    

 

“Compliance Certificate” means
a certificate substantially in the form of Exhibit C and which certificate shall in any event be a certificate of a Financial
Officer of the Borrower:

 

(1)           certifying
as to whether a Default has occurred and is continuing and, if applicable, specifying the details thereof and any action taken or proposed
to be taken with respect thereto (in each case, other than any Default with respect to which the Administrative Agent has otherwise obtained
notice in accordance with Section 6.03(1)),

 

(2)           in
the case of financial statements delivered under Section 6.01(1), setting forth reasonably detailed calculations of (i), Excess Cash
Flow for each fiscal year commencing with the financial statements for the fiscal year ending December 31, 2022 and (ii) the
Net Proceeds received during the applicable period (after the Closing Date in the case of the fiscal year ending December 31, 2021)
by or on behalf of the Borrower or any Restricted Subsidiary in respect of any Asset Sale or Casualty Event subject to prepayment pursuant
to Section 2.05(2)(b)(i) and the portion of such Net Proceeds that has been invested or is intended to be reinvested in accordance
with Section 2.05(2)(b)(ii),

 

(3)           commencing
with the certificate delivered pursuant to Section 6.02(1) for the first full fiscal quarter ending after the Closing Date,
(x) if on the last day of the relevant fiscal quarter there are outstanding Revolving Loans and Letters of Credit (excluding (i) undrawn
Letters of Credit in an aggregate amount of up to $20.0 million and (ii) Letters of Credit (whether drawn or undrawn) to the extent
Cash Collateralized or backstopped on terms reasonably acceptable to the applicable Issuing Bank) in an aggregate principal amount exceeding
35.0% of the aggregate principal amount of all Revolving Commitments under all outstanding Revolving Facilities (including any Incremental
Revolving Facilities), setting forth a calculation of the Secured Net Leverage Ratio as of the last day of the most recent Test Period,
and (y) setting forth a calculation of such Secured Net Leverage Ratio.

 

“Conforming Changes” means, with
respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement,
any technical, administrative or operational changes (including changes to the definition of “Base Rate”, the definition of
 “Business Day”, the definition of “U.S. Government Securities Business Day”, the definition of “Interest
Period” or any similar or analogous definition (or the addition of a concept of “interest period”), timing and frequency
of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices,
the applicability and length of lookback periods, the applicability of Section 2.12 and other technical, administrative or
operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of any such rate
or to permit the use and administration thereof by the Administrative Agent in a manner substantially consistent with market practice
(or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the
Administrative Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration
as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan
Documents).

 

“Consolidated Current Assets”
means, as at any date of determination, the total assets of the Borrower and the Restricted Subsidiaries on a consolidated basis that
may properly be classified as current assets in conformity with GAAP, excluding cash and Cash Equivalents, amounts related to current
or deferred taxes based on income or profits, assets held for sale, loans (permitted) to third parties, pension assets, deferred bank
fees, derivative financial instruments and any assets in respect of Hedge Agreements, and excluding the effects of adjustments pursuant
to GAAP resulting from the application of recapitalization accounting or purchase accounting, as the case may be, in relation to the Transactions
or any consummated acquisition.

 

“Consolidated Current Liabilities”
means, as at any date of determination, the total liabilities of the Borrower and the Restricted Subsidiaries on a consolidated basis
that may properly be classified as current liabilities in conformity with GAAP, excluding (A) the current portion of any Funded Debt,
(B) the current portion of interest, (C) accruals for current or deferred taxes based on income or profits, (D) accruals
of any costs or expenses related to restructuring reserves or severance, (E) Revolving Loans and L/C Obligations under this Agreement
or any other revolving loans and letter of credit obligations under any other revolving credit facility, (F) the current portion
of any Capitalized Lease Obligation, (G) deferred revenue arising from cash receipts that are earmarked for specific projects, (H) liabilities
in respect of unpaid earn-outs, (I) the current portion of any other long-term liabilities, (J) accrued litigation settlement
costs and (K) any liabilities in respect of Hedge Agreements, and, furthermore, excluding the effects of adjustments pursuant to
GAAP resulting from the application of recapitalization accounting or purchase accounting, as the case may be, in relation to the Transactions
or any consummated acquisition.

 

    	 	18	 

     

    

 

“Consolidated Depreciation and Amortization
Expense” means, with respect to any Person for any period, the total amount of depreciation and amortization expense of such
Person and its Restricted Subsidiaries, including the amortization of intangible assets, deferred financing fees, debt issuance costs,
commissions, fees and expenses and the amortization of Capitalized Software Expenditures of such Person and its Restricted Subsidiaries
for such period on a consolidated basis and otherwise determined in accordance with GAAP.

 

“Consolidated EBITDA” means, with
respect to any Person for any period, the Consolidated Net Income of such Person and its Restricted Subsidiaries for such period:

 

(1)           increased
(without duplication) by the following, in each case (other than clauses (l), (o) and (s)) to the extent deducted
(and not added back) in determining Consolidated Net Income for such period:

 

(a)           extraordinary,
non-recurring or unusual losses, fees, costs, charges or expenses (including relating to any strategic initiatives); restructuring costs
or charges (including restructuring and integration costs related to acquisitions, and in each case, whether or not classified as such
under GAAP); costs and expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of facilities and fixed
assets for alternative uses; Public Company Costs; costs and expenses related to the integration, consolidation, opening, pre-opening
and closing of facilities and fixed assets; severance and relocation costs and expenses, one-time compensation costs and expenses, consulting
fees, signing, retention or completion bonuses, and executive recruiting costs; costs and expenses incurred in connection with strategic
initiatives; transition costs and duplicative running costs; costs and expenses incurred in connection with non-ordinary course product
and intellectual property development; costs incurred in connection with acquisitions (or purchases of assets) prior to or after the Closing
Date (including integration costs); business optimization expenses (including costs and expenses relating to business optimization programs,
new systems design, retention charges, system establishment costs and implementation costs and project start-up costs); operating expenses
attributable to the implementation of cost-savings initiatives; curtailments and modifications to pension and post-employment employee
benefit plans (including any settlement of pension liabilities and charges resulting from changes in estimates, valuations and judgments);
plus

 

(b)           losses
resulting from the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting
policies during such period whether effected through a cumulative effect adjustment or a retroactive application, in each case in accordance
with GAAP; plus

 

(c)           Transaction
Expenses and any fees, expenses or charges incurred during such period, or any amortization thereof for such period, in connection with
any acquisition, Investment, Asset Sale, disposition, incurrence or repayment of Indebtedness (including such fees, expenses or charges
related to the syndication and incurrence of any Facilities), issuance of Equity Interests (including by any direct or indirect parent
of the Borrower), recapitalization, refinancing transaction or amendment or modification of any debt instrument (including any amendment
or other modification of any Facilities) and including, in each case, any such transaction whether consummated on, after or prior to the
Closing Date and any such transaction undertaken but not completed, and any charges or nonrecurring integration costs incurred during
such period as a result of any such transaction, in each case whether or not successful or consummated (including, for the avoidance of
doubt, the effects of expensing all transaction related expenses in accordance with Accounting Standards Codification Topic No. 805,
Business Combinations); plus

 

    	 	19	 

     

    

 

(d)           any
loss on asset sales, disposals or abandonments (other than asset sales, disposals or abandonments in the ordinary course of business);
plus

 

(e)           total
interest expense and, to the extent not reflected in such total interest expense, any losses on Hedging Obligations or other derivative
instruments entered into for the purpose of hedging interest rate risk, net of interest income and gains on such Hedging Obligations or
such derivative instruments, and bank and letter of credit fees, letter of guarantee and bankers’ acceptance fees and costs of surety
bonds in connection with financing activities, together with items excluded from the definition of “Consolidated Interest Expense”
pursuant to the definition thereof; plus

 

(f)           provision
for taxes based on income, profits, revenue or capital, including federal, foreign and state income, franchise, excise, value added and
similar taxes, property taxes and similar taxes, and foreign withholding taxes paid or accrued during such period (including any future
taxes or other levies that replace or are intended to be in lieu of taxes, and any penalties and interest related to taxes or arising
from tax examinations) and the net tax expense associated with any adjustments made pursuant to the definition of “Consolidated
Net Income,” and any payments to a Parent Company in respect of such taxes permitted to be made hereunder; plus

 

(g)           Consolidated
Depreciation and Amortization Expense for such period; plus

 

(h)           any
other non-cash charges (including without limitation any impairment charge, write-offs or write-downs, any non-cash rent expense, and
accruals and reserves in connection with extraordinary, non-recurring or unusual items, restructuring charges, or established or adjusted
in connection with the Transactions, an Investment or an acquisition or disposition), in each case, reducing Consolidated Net Income for
such period (provided that if any such non-cash charges represent an accrual or reserve for potential cash items in any future
period, (i) the Borrower may determine not to add back such non-cash charge in the current period and (ii) to the extent the
Borrower does decide to add back such non-cash charge, the cash payment in respect thereof in such future period shall be subtracted from
Consolidated EBITDA to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period); plus

 

(i)           minority
interest expense, the amount of any non-controlling interest consisting of income attributable to non-controlling interests of third parties
in any non-wholly-owned Restricted Subsidiary, excluding cash distributions in respect thereof, and the amount of any reductions in arriving
at Consolidated Net Income resulting from the application of Accounting Standards Codification Topic No. 810, Consolidation;
plus

 

(j)           (i) the
amount of board of director fees and any management, monitoring, consulting, transaction, advisory and other fees (including termination
fees) and indemnities and expenses paid or accrued in such period to a Permitted Holder or otherwise, in each case, to the extent permitted
under Section 6.16 and (ii) the amount of payments made to option holders of such Person or any Parent Company in connection
with, or as a result of, any distribution being made to equity holders of such Person or its Parent Companies, which payments are being
made to compensate such option holders as though they were equity holders at the time of, and entitled to share in, such distribution,
in each case to the extent permitted hereunder; plus

 

(k)           the
amount of loss or discount on sale of receivables, Securitization Assets and related assets to any Securitization Subsidiary in connection
with a Qualified Securitization Facility; plus

 

(l)           cash
receipts (or any netting arrangements resulting in reduced cash expenditures) not representing Consolidated EBITDA or Consolidated Net
Income in any prior period to the extent non-cash gains relating to such income were deducted in the calculation of Consolidated EBITDA
pursuant to clause (2) below for any previous period and not added back; plus

 

    	 	20	 

     

    

 

(m)           (i) any
costs or expenses incurred pursuant to any management equity plan, stock option plan or any other management or employee benefit plan,
agreement or any stock subscription or shareholder agreement, to the extent that such costs or expenses are funded with cash proceeds
contributed to the capital of such Person or net cash proceeds of an issuance of Equity Interests of such Person (other than Disqualified
Stock), (ii) any equity based or non-cash compensation charge or expense, including any such charge or expense arising from grants
of stock appreciation, equity incentive programs or similar rights, stock options, restricted stock or other rights to, and any cash charges
associated with the rollover, acceleration or payout of, Equity Interests by management of such Person or of a Restricted Subsidiary or
any Parent Company, (iii) noncash compensation expense resulting from the application of Accounting Standards Codification Topic
No. 718, Compensation—Stock Compensation or Accounting Standards Codification Topic 505-50, Equity-Based Payments
to Non-Employees, and (iv) any income (loss) attributable to deferred compensation plans or trusts; plus

 

(n)           any
net pension or other post-employment benefit costs representing amortization of unrecognized prior service costs, actuarial losses, including
amortization of such amounts arising in prior periods, amortization of the unrecognized net obligation (and loss or cost) existing at
the date of initial application of FASB Accounting Standards Codification Topic 715—Compensation—Retirement Benefits,
and any other items of a similar nature; plus

 

(o)           the
amount of “run-rate” cost savings, cost synergies and operating expense reductions related to restructurings, cost savings
initiatives or other initiatives and operating improvements that are projected by the Borrower in good faith to result from actions either
taken or with respect to which substantial steps have been taken or are expected to be taken (in the good faith determination of the Borrower)
within 36 months after the end of such period (which cost savings, cost synergies or operating expense reductions shall be calculated
on a pro forma basis as though such cost savings, cost synergies or operating expense reductions had been realized on the first
day of such period), net of the amount of actual benefits realized from such actions during such period (it is understood and agreed that
 “run-rate” means the full recurring benefit that is associated with any action taken or with respect to which substantial
steps have been taken whether prior to or are expected to be taken following the Closing Date) (which adjustments may be incremental to
(but not duplicative of) pro forma cost savings, synergies or operating expense reduction adjustments made pursuant to Section 1.07);
provided that such cost savings, synergies and operating expenses are reasonably identifiable and factually supportable; provided,
further, that the aggregate amount of additions made to Consolidated EBITDA for any Test Period pursuant to this clause (o) and
any pro forma adjustments made pursuant to Section 1.07(3) shall not exceed in the aggregate 33.0% of Consolidated EBITDA
for such Test Period (calculated prior to giving effect to any adjustments pursuant to this clause (o) and Section 1.07(3));
plus

 

(p)           any
payments in the nature of compensation or expense reimbursement made to independent board members; plus

 

(q)           expenses,
including internal software development costs that are expensed during the period but could have been capitalized in accordance with GAAP;
plus

 

(r)           losses
resulting from the early extinguishment or conversion of (a) Indebtedness, (b) Hedging Obligations or (c) other derivative
instruments; plus

 

(s)           any
expenses, charges or losses to the extent covered by insurance that are, directly or indirectly, reimbursed or reimbursable by a third
party, and any expenses, charges or losses that are covered by indemnification or other reimbursement provisions in connection with any
acquisition, Investment or any sale, conveyance, transfer or other disposition of assets prior to the Closing Date or permitted under
this Agreement; plus

 

(t)           any
non-cash loss attributable to the mark to market movement in the valuation of Hedging Obligations or other derivative instruments pursuant
to FASB Accounting Standards Codification Topic 815—Derivatives and Hedging or mark to market movement of other financial
instruments pursuant to FASB Accounting Standards Codification Topic 825—Financial Instruments; plus

 

    	 	21	 

     

    

 

(u)           any
net unrealized loss (after any offset) resulting in such period from currency transaction or translation losses including those related
to currency remeasurements of Indebtedness (including any net loss resulting from (i) Hedging Obligations for currency exchange risk
and (ii) resulting from intercompany indebtedness) and any other foreign currency transaction or translation losses, to the extent
such losses are non-cash items; plus

 

(v)           any
loss (gain) resulting from the application of Accounting Standards Codification Topic No. 460, Guarantees, or any comparable
regulation; plus

 

(w)           earn-out
and contingent consideration obligations (including to the extent accounted for as bonuses or otherwise) and adjustments thereof and purchase
price adjustments; plus

 

(x)           any
loss from discontinued operations (but if such operations are classified as discontinued due to the fact that they are subject to an agreement
to dispose of such operations, only when and to the extent such operations are actually disposed of); and

 

(2)           decreased
(without duplication) by the following, in each case to the extent included in determining Consolidated Net Income for such period:

 

(a)           extraordinary,
non-recurring or unusual gains;

 

(b)           non-cash
gains for such period (excluding any non-cash gain to the extent it represents the reversal of an accrual or reserve for a potential cash
item that reduced Consolidated Net Income or Consolidated EBITDA in any prior period other than any such accrual or reserve that has been
added back to Consolidated Net Income in calculating Consolidated EBITDA in accordance with this definition);

 

(c)           the
amount of any non-controlling interest consisting of loss attributable to non-controlling interests of third parties in any non-wholly
owned Restricted Subsidiary added to (and not deducted from) Consolidated Net Income in such period;

 

(d)           any
net income from discontinued operations (but if such operations are classified as discontinued due to the fact that they are subject to
an agreement to dispose of such operations, only when and to the extent such operations are actually disposed of);

 

(e)           gains
resulting from the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting
policies during such period whether effected through a cumulative effect adjustment or a retroactive application, in each case in accordance
with GAAP;

 

(f)           any
gain on asset sales, disposals or abandonments (other than asset sales, disposals or abandonments in the ordinary course of business);

 

(g)           income
resulting from the early extinguishment or conversion of (a) Indebtedness, (b) Hedging Obligations or (c) other derivative
instruments;

 

(h)           any
non-cash gain attributable to the mark to market movement in the valuation of Hedging Obligations or other derivative instruments pursuant
to FASB Accounting Standards Codification Topic 815—Derivatives and Hedging or mark to market movement of other financial
instruments pursuant to FASB Accounting Standards Codification Topic 825—Financial Instruments; and

 

    	 	22	 

     

    

 

(i)           any
net unrealized gain (after any offset) resulting in such period from currency transaction or translation gains including those related
to currency remeasurements of Indebtedness (including any net gain resulting from (i) Hedging Obligations for currency exchange risk
and (ii) resulting from intercompany indebtedness) and any other foreign currency transaction or translation gains, to the extent
such gains are non-cash items.

 

For the avoidance of doubt, Consolidated EBITDA shall
be calculated, including pro forma adjustments, in accordance with Section 1.07. Notwithstanding anything to the contrary contained
herein, Consolidated EBITDA shall be deemed to be $78,000,000 for the fiscal quarter ended on December 31, 2020, $70,500,000 for
the fiscal quarter ended on March 31, 2021, $73,200,000 for the fiscal quarter ended on June 30, 2021, and $73,900,000 for the
fiscal quarter ended on September 30, 2021.

 

“Consolidated Interest Expense”
means, with respect to any Person for any period, without duplication, the sum of:

 

(a)           cash
interest expense (including that attributable to Capitalized Lease Obligations), net of cash interest income, with respect to Indebtedness
of such Person and its Restricted Subsidiaries for such period, other than Non-Recourse Indebtedness, including commissions, discounts
and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net cash costs under hedging
agreements (other than in connection with the early termination thereof); plus

 

(b)           non-cash
interest expense resulting solely from (a) the amortization of original issue discount from the issuance of Indebtedness of such
Person and its Restricted Subsidiaries at less than par (excluding any Indebtedness borrowed under the Facilities in connection with the
Transactions and any Non-Recourse Indebtedness), plus (b) pay-in-kind interest expense of such Person and its Restricted Subsidiaries
payable pursuant to the terms of the agreements governing Indebtedness for borrowed money;

 

excluding, in each case:

 

(i)           amortization
of deferred financing costs, debt issuance costs, commissions, fees and expenses and any other amounts of non-cash interest other than
referred to in clauses (2)(a) and (2)(b) above (including as a result of the effects of acquisition method accounting or pushdown
accounting),

 

(ii)           interest
expense attributable to the movement of the mark-to-market valuation of obligations under Hedging Obligations or other derivative instruments,
including pursuant to FASB Accounting Standards Codification Topic 815, Derivatives and Hedging,

 

(iii)          costs
associated with incurring or terminating Hedging Obligations and cash costs associated with breakage in respect of hedging agreements
for interest rates,

 

(iv)          commissions,
discounts, yield, make-whole premium and other fees and charges (including any interest expense) incurred in connection with any Non-Recourse
Indebtedness,

 

(v)           “additional
interest” owing pursuant to a registration rights agreement with respect to any securities,

 

(vi)          any
payments with respect to make-whole premiums or other breakage costs of any Indebtedness, including any Indebtedness issued in connection
with the Transactions,

 

(vii)         penalties
and interest relating to taxes,

 

(viii)       accretion
or accrual of discounted liabilities not constituting Indebtedness,

 

(ix)           interest
expense attributable to a Parent Company resulting from push-down accounting,

 

    	 	23	 

     

    

 

(x)           any
expense resulting from the discounting of Indebtedness in connection with the application of recapitalization or purchase accounting,

 

(xi)           any
interest expense attributable to the exercise of appraisal rights and the settlement of any claims or actions (whether actual, contingent
or potential) with respect thereto in connection with the Transactions, any acquisition or Investment and

 

(xii)         annual
agency fees paid to any administrative agents and collateral agents with respect to any secured or unsecured loans, debt facilities, debentures,
bonds, commercial paper facilities or other forms of Indebtedness (including any security or collateral trust arrangements related thereto),
including the Facilities.

 

For purposes of this definition, interest on a Capitalized Lease Obligation
will be deemed to accrue at an interest rate reasonably determined by such Person to be the rate of interest implicit in such Capitalized
Lease Obligation in accordance with GAAP.

 

“Consolidated Net Income” means,
with respect to any Person for any period, the net income (loss) of such Person and its Restricted Subsidiaries for such period determined
on a consolidated basis in accordance with GAAP, excluding (and excluding the effect of), without duplication,

 

(1)           the
Net Income for such period of any Person that is an Unrestricted Subsidiary and the Net Income for such period of any Person that is not
a Subsidiary or that is accounted for by the equity method of accounting; provided that the Consolidated Net Income of a Person
will be increased by the amount of dividends or distributions or other payments that are actually paid in cash or Cash Equivalents (or
to the extent converted into cash or Cash Equivalents) to such Person or a Restricted Subsidiary thereof in respect of such period);

 

(2)           the
Net Income for such period of any Restricted Subsidiary (other than any Guarantor) to the extent that the declaration or payment of dividends
or similar distributions by that Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior
governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement,
instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders,
unless such restriction with respect to the payment of dividends or similar distributions has been legally waived (or the Borrower reasonably
believes such restriction could be waived and is using commercially reasonable efforts to pursue such waiver); provided that Consolidated
Net Income of a Person will be increased by the amount of dividends or other distributions or other payments actually paid in cash or
Cash Equivalents (or to the extent converted into cash or Cash Equivalents), or the amount that could have been paid in cash or Cash Equivalents
without violating any such restriction or requiring any such approval, to such Person or a Restricted Subsidiary thereof in respect of
such period, to the extent not already included therein; and

 

(3)           effects
of adjustments (including the effects of such adjustments pushed down to such Person and its Restricted Subsidiaries) related to the application
of recapitalization accounting or purchase accounting (including in the inventory, property and equipment, software, goodwill, intangible
assets, in process research and development, deferred revenue and debt line items).

 

Notwithstanding the foregoing, for the purpose of
Section 7.05(a) (other than clause (3)(d) of Section 7.05(a)), there will be excluded from Consolidated Net Income
any income arising from any sale or other disposition of Restricted Investments made by such Person and its Restricted Subsidiaries, any
repurchases and redemptions of Restricted Investments from such Person and its Restricted Subsidiaries, any repayments of loans and advances
which constitute Restricted Investments by such Person or any Restricted Subsidiary, any sale of the stock of an Unrestricted Subsidiary
or any distribution or dividend from an Unrestricted Subsidiary, in each case only to the extent such amounts increase the amount of Restricted
Payments permitted under clause (3)(d) of Section 7.05(a).

 

    	 	24	 

     

    

 

“Consolidated Secured Debt” means,
as of any date of determination, subject to the definition of “Designated Revolving Commitments,” the aggregate principal
amount of Indebtedness of the Borrower and the Restricted Subsidiaries outstanding on such date, determined on a consolidated basis in
accordance with GAAP, consisting only of Indebtedness for borrowed money, Capitalized Lease Obligations and purchase money Indebtedness,
in each case secured by a lien; provided, Consolidated Secured Debt will not include Non-Recourse Indebtedness, undrawn amounts
under revolving credit facilities and Indebtedness in respect of any (1) letter of credit, bank guarantees and performance or similar
bonds, except to the extent of obligations in respect of drawn standby letters of credit which have not been reimbursed within three
(3) Business Days and (2) Hedging Obligations. The Dollar-equivalent principal amount of any Indebtedness denominated in a
foreign currency will reflect the currency translation effects, determined in accordance with GAAP, of Hedging Obligations for currency
exchange risks with respect to the applicable currency in effect on the date of determination of the Dollar-equivalent principal amount
of such Indebtedness.

 

“Consolidated Total Debt” means,
as of any date of determination, subject to the definition of “Designated Revolving Commitments,” the aggregate principal
amount of Indebtedness of the Borrower and its Restricted Subsidiaries outstanding on such date, determined on a consolidated basis in
accordance with GAAP, consisting only of Indebtedness for borrowed money, Capitalized Lease Obligations and purchase money Indebtedness;
provided, Consolidated Total Debt will not include Non-Recourse Indebtedness, undrawn amounts under revolving credit facilities
and Indebtedness in respect of any (1) letter of credit, bank guarantees and performance or similar bonds, except to the extent of
obligations in respect of drawn standby letters of credit which have not been reimbursed within three (3) Business Days and (2) Hedging
Obligations. The Dollar-equivalent principal amount of any Indebtedness denominated in a foreign currency will reflect the currency translation
effects, determined in accordance with GAAP, of Hedging Obligations for currency exchange risks with respect to the applicable currency
in effect on the date of determination of the Dollar-equivalent principal amount of such Indebtedness.

 

“Consolidated Working Capital”
means, as at any date of determination, the excess of Consolidated Current Assets over Consolidated Current Liabilities.

 

“Contingent Obligations” means,
with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other monetary obligations that do not
constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any
manner, whether directly or indirectly, including any obligation of such Person, whether or not contingent:

 

(1)           to
purchase any such primary obligation or any property constituting direct or indirect security therefor;

 

(2)           to
advance or supply funds:

 

(a)           for
the purchase or payment of any such primary obligation or

 

(b)           to
maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor;
or

 

(3)           to
purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability
of the primary obligor to make payment of such primary obligation against loss in respect thereof.

 

“Contract Consideration” has the
meaning specified in clause (2)(k) of the definition of “Excess Cash Flow.”

 

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

 

    	 	25	 

     

    

 

“Controlled Investment Affiliate”
means, as to any Person, any other Person, which directly or indirectly is in control of, is controlled by, or is under common control
with such Person and is organized by such Person (or any Person controlling such Person) primarily for making direct or indirect equity
or debt investments in the Borrower or other companies.

 

“Convertible Indebtedness” means
Indebtedness of the Borrower (which may be guaranteed by the Guarantors) permitted to be incurred hereunder that is either (a) convertible
into common equity of the Borrower (and cash in lieu of fractional shares) or cash (in an amount determined by reference to the price
of such common equity) or (b) sold as units with call options, warrants or rights to purchase (or substantially equivalent derivative
transactions) that are exercisable for common equity of the Borrower or cash (in an amount determined by reference to the price of such
common equity).

 

“Corrective Extension Amendment”
has the meaning specified in Section 2.16(6).

 

“Covered Entity” means any of
the following:

 

(1)           a
 “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

 

(2)           a
 “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

 

(3)           a
 “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

 

“Covered Party” has
the meaning assigned to it in Section 10.26.

 

“Credit Agreement Refinanced Debt”
has the meaning assigned to such term in the definition of “Credit Agreement Refinancing Indebtedness.”

 

“Credit Agreement Refinancing Indebtedness”
means (a) Permitted Equal Priority Refinancing Debt, (b) Permitted Junior Priority Refinancing Debt or (c) Permitted Unsecured
Refinancing Debt; provided that, in each case, such Indebtedness is issued, incurred or otherwise obtained (including by means
of the extension or renewal of existing Indebtedness) to Refinance, in whole or in part, existing Loans (or, if applicable, unused Commitments)
or any then-existing Credit Agreement Refinancing Indebtedness (“Credit Agreement Refinanced Debt”); provided,
further, that (i) the terms of any such Indebtedness (excluding, for the avoidance of doubt, interest rates (including through
fixed interest rates), interest margins, rate floors, fees, funding discounts, original issue discounts and prepayment or redemption premiums
and terms) shall either, at the option of the Borrower, (A) reflect market terms and conditions (taken as a whole) at the time of
incurrence of such Indebtedness (as determined by the Borrower in good faith), (B) if otherwise not consistent with the terms of
such Credit Agreement Refinanced Debt, not be materially more restrictive to the Borrower (as determined by the Borrower in good faith),
when taken as a whole, than the terms of such Credit Agreement Refinanced Debt, except to the extent necessary to provide for (1) covenants
and other terms applicable to any period after the Latest Maturity Date of the Loans in effect immediately prior to such Refinancing or
otherwise reasonably satisfactory to the Administrative Agent or (2) subject to the immediately succeeding proviso, a Previously
Absent Financial Maintenance Covenant; provided that, notwithstanding anything to the contrary contained herein, if any such terms
of such Indebtedness contain a Previously Absent Financial Maintenance Covenant that is in effect prior to the applicable Latest Maturity
Date, such Previously Absent Financial Maintenance Covenant shall be included for the benefit of each Facility; provided further,
that if (x) such Indebtedness that includes a Previously Absent Financial Maintenance Covenant consists of a revolving credit facility
(whether or not the documentation therefor includes any other facilities) and (y) the applicable Previously Absent Financial Maintenance
Covenant is included only for the benefit of such revolving credit facility, the Previously Absent Financial Maintenance Covenant shall
not be required to be included in this Agreement for the benefit of any Term Facility hereunder or (C) if neither clause (A) or
(B) are satisfied, such terms, provisions and documentation shall be otherwise reasonably satisfactory to the Administrative Agent,
(ii) any such Indebtedness shall have a maturity date that is no earlier than the Credit Agreement Refinanced Debt and a Weighted
Average Life to Maturity equal to or greater than that of the Credit Agreement Refinanced Debt as of the date of determination, (iii) except
to the extent otherwise permitted under this Agreement (subject to a dollar for dollar usage of any other basket set forth in Section 7.02,
if applicable), such Indebtedness shall not have a greater principal amount (or shall not have a greater accreted value, if applicable)
than the principal amount (or accreted value, if applicable) of the Credit Agreement Refinanced Debt plus accrued interest, fees
and premiums (including tender premium) and penalties (if any) thereon and fees, expenses, original issue discount and upfront fees incurred
in connection with such Refinancing, (iv) such Credit Agreement Refinanced Debt shall be repaid, defeased or satisfied and discharged,
and all accrued interest, fees and premiums (if any) in connection therewith shall be paid, within five (5) Business Days after the
date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained with the Net Proceeds received from the incurrence
or issuance of such Indebtedness and (v) any mandatory prepayments of (I) any Permitted Junior Priority Refinancing Debt or
Permitted Unsecured Refinancing Debt may not be made except to the extent that prepayments are not prohibited hereunder and to the extent
required hereunder or pursuant to the terms of any Permitted Equal Priority Refinancing Debt, first made or offered to the holders of
the Term Loans constituting First Lien Obligations and any such Permitted Equal Priority Refinancing Debt, and (II) any Permitted
Equal Priority Refinancing Debt in respect of events described in Section 2.05(2)(a), (b) and (d)(i), shall be made on a pro
rata basis, less than a pro rata basis or greater than a pro rata basis (but not greater than a pro rata basis as compared to any Class of
Term Loans constituting First Lien Obligations with an earlier maturity date unless the Credit Agreement Refinanced Debt was so entitled
to participate on a greater than a pro rata basis) with each Class of Term Loans constituting First Lien Obligations under Section 2.05(2)(a),
(b) and (d)(i), provided, further, that “Credit Agreement Refinancing Indebtedness” may be incurred in
the form of a bridge or other interim credit facility intended to be Refinanced with long-term indebtedness (and such bridge or other
interim credit facility shall be deemed to satisfy clause (ii) of the second proviso in this definition so long as (x) such
credit facility includes customary “rollover” provisions and (y) assuming such credit facility were to be extended pursuant
to such “rollover” provisions, such extended credit facility would comply with clause (ii) above) and in which case,
on or prior to the first anniversary of the incurrence of such “bridge” or other interim credit facility, clause (v) of
the preceding proviso in this definition shall not prohibit the inclusion of customary terms for “bridge” facilities, including
customary mandatory prepayment, repurchase or redemption provisions.

 

    	 	26	 

     

    

 

“Credit Extension” means each
of the following: (i) a Borrowing and (ii) an L/C Credit Extension.

 

“Cure Amount” has the meaning
specified in Section 8.04(1).

 

“Cure Expiration Date” has the
meaning specified in Section 8.04(1)(a).

 

“Daily Simple SOFR” means, for
any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent in accordance
with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR”
for syndicated business loans; provided that if the Administrative Agent decides that any such convention is not administratively feasible
for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion.

 

“Debt Representative” means, with
respect to any series of Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent under the
indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of
their successors in such capacities.

 

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

 

“Declined Proceeds” has the meaning
specified in Section 2.05(2)(g).

 

“Default” means any event that
is, or with the passage of time or the giving of notice or both would be, an Event of Default.

 

    	 	27	 

     

    

 

“Default Rate” means an interest
rate equal to (a) the Base Rate plus (b) the Applicable Rate applicable to Base Rate Loans that are Revolving Loans plus
(c) 2.00% per annum; provided that with respect to the outstanding principal amount of any Loan, the Default Rate shall be
an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan (giving effect to Section 2.02(3))
plus 2.00% per annum, in each case, to the fullest extent permitted by applicable Laws.

 

“Default
Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§
252.81, 47.2 or 382.1, as applicable.

 

“Defaulting Lender” means, subject
to Section 2.17(2), any Lender that (a) has refused (which refusal may be given verbally or in writing and has not been retracted)
or failed to perform any of its funding obligations hereunder, including in respect of its Loans or participations in respect of L/C Obligations,
within one Business Day of the date required to be funded by it hereunder, (b) has failed to pay over to the Administrative Agent,
any Issuing Bank or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when due,
unless the subject of a good faith dispute, (c) has notified the Borrower or the Administrative Agent that it does not intend to
comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations hereunder or
generally under other agreements in which it commits to extend credit, (d) has failed, within three (3) Business Days after
request by the Administrative Agent, to confirm in a manner satisfactory to the Administrative Agent that it will comply with its funding
obligations, or (e) has, or has a direct or indirect parent company that has, either (i) admitted in writing that it is insolvent
or (ii) become subject to a Lender-Related Distress Event. Any determination by the Administrative Agent as to whether a Lender is
a Defaulting Lender shall be conclusive absent manifest error.

 

“Designated Non-Cash Consideration”
means the fair market value of non-cash consideration received by the Borrower or a Restricted Subsidiary in connection with an Asset
Sale that is so designated as Designated Non-Cash Consideration pursuant to an Officer’s Certificate, setting forth the basis of
such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent sale, redemption or repurchase
of, or collection or payment on, such Designated Non-Cash Consideration.

 

“Designated Preferred Stock” means
Preferred Stock of the Borrower, any Restricted Subsidiary thereof or any Parent Company (in each case other than Disqualified Stock)
that is issued for cash (other than to a Restricted Subsidiary or an employee stock ownership plan or trust established by the Borrower
or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officer’s Certificate, on or promptly
after the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth in clause (3) of Section 7.05(a).

 

“Designated Revolving Commitments”
means any commitments to make loans or extend credit on a revolving basis to the Borrower or any Restricted Subsidiary by any Person other
than the Borrower or any Restricted Subsidiary that have been designated in an Officer’s Certificate delivered to the Administrative
Agent as “Designated Revolving Commitments” until such time as the Borrower subsequently delivers an Officer’s Certificate
to the Administrative Agent to the effect that such commitments will no longer constitute “Designated Revolving Commitments”;
provided that, during such time, except for purposes of determining actual compliance with the Financial Covenant, such Designated
Revolving Commitments will be deemed an incurrence of Indebtedness on such date and will be deemed outstanding for purposes of calculating
the Fixed Charge Coverage Ratio, Total Net Leverage Ratio, Secured Net Leverage Ratio and the availability of any Baskets hereunder.

 

“Discharge” means, with respect
to any Indebtedness, the repayment, prepayment, repurchase (including pursuant to an offer to purchase), redemption, defeasance or other
discharge of such Indebtedness, in any such case in whole or in part.

 

“Discount Prepayment Accepting Lender”
has the meaning assigned to such term in Section 2.05(1)(e)(B)(2).

 

“Discount Range” has the meaning
assigned to such term in Section 2.05(1)(e)(C)(1).

 

    	 	28	 

     

    

 

“Discount Range Prepayment Amount”
has the meaning assigned to such term in Section 2.05(1)(e)(C)(1).

 

“Discount Range Prepayment Notice”
means a written notice of a Borrower Solicitation of Discount Range Prepayment Offers made pursuant to Section 2.05(1)(e)(C)(1) substantially
in the form of Exhibit J.

 

“Discount Range Prepayment Offer”
means the written offer by a Lender, substantially in the form of Exhibit K, submitted in response to an invitation to submit
offers following the Auction Agent’s receipt of a Discount Range Prepayment Notice.

 

“Discount Range Prepayment Response Date”
has the meaning assigned to such term in Section 2.05(1)(e)(C)(1).

 

“Discount Range Proration” has
the meaning assigned to such term in Section 2.05(1)(e)(C)(3).

 

“Discounted Prepayment Determination Date”
has the meaning assigned to such term in Section 2.05(1)(e)(D)(3).

 

“Discounted Prepayment Effective Date”
means in the case of a Borrower Offer of Specified Discount Prepayment, Borrower Solicitation of Discount Range Prepayment Offer or Borrower
Solicitation of Discounted Prepayment Offer, five (5) Business Days following the Specified Discount Prepayment Response Date, the
Discount Range Prepayment Response Date or the Solicited Discounted Prepayment Response Date, as applicable, in accordance with Section 2.05(1)(e)(B),
Section 2.05(1)(e)(C) or Section 2.05(1)(e)(D), respectively, unless a shorter period is agreed to between the Borrower
and the Auction Agent.

 

“Discounted Term Loan Prepayment”
has the meaning assigned to such term in Section 2.05(1)(e)(A).

 

“disposition” has the meaning
set forth in the definition of “Asset Sale.”

 

“Disqualified Institution” means
(a) any person who is an operating competitor of the Borrower or its Restricted Subsidiaries and that is identified in writing by
the Borrower to the Arrangers on or prior to November 5, 2021, (b) those particular banks, financial institutions, other institutional
lenders and other Persons identified by the Borrower to the Arrangers on or prior to November 5, 2021 and (c) any Affiliate
of the entities described in the preceding clauses (a) or (b) that are either (x) clearly identifiable as an Affiliate
of such person on the basis of their name or (y) are identified as such in writing by or on behalf of the Borrower to (i) the
Arrangers on or prior to the Closing Date or (ii) the Administrative Agent from time to time after the Closing Date (other than,
in the cases of clause (a) and (b), bona fide debt fund affiliates); provided that no updates to the Disqualified Institution
list shall be deemed to retroactively disqualify any party that was previously a Lender (including through an assignment or participation)
in respect of the Loans or Commitments from continuing to hold or vote such previously acquired Loans, assignments and participations
on the terms set forth herein or Lenders that are not Disqualified Institutions. The identity of Disqualified Institutions may be communicated
by the Administrative Agent to a Lender upon request, but will not be otherwise posted or distributed to any Person.

 

“Disqualified Stock” means, with
respect to any Person, any Capital Stock of such Person which, by its terms, or by the terms of any security into which it is convertible
or for which it is redeemable or exchangeable, or upon the happening of any event, matures or is mandatorily redeemable (other than (i) for
any Qualified Equity Interests or (ii) solely as a result of a change of control, asset sale, casualty, condemnation or eminent domain)
pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than (i) for any
Qualified Equity Interests or (ii) solely as a result of a change of control, asset sale, casualty, condemnation or eminent domain),
in whole or in part, in each case prior to the date 91 days after the earlier of the then Latest Maturity Date or the date the Loans are
no longer outstanding and the Commitments have been terminated; provided that if such Capital Stock is issued pursuant to any plan
for the benefit of future, current or former employees, directors, officers, members of management, consultants or independent contractors
(or their respective Controlled Investment Affiliates or Immediate Family Members or any permitted transferees thereof) of the Borrower
or its Subsidiaries or any Parent Company or by any such plan to such employees, directors, officers, members of management, consultants
or independent contractors (or their respective Controlled Investment Affiliates or Immediate Family Members or any permitted transferees
thereof), such Capital Stock will not constitute Disqualified Stock solely because it may be required to be repurchased by the Borrower
or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s, director’s,
officer’s, management member’s, consultant’s or independent contractor’s termination, death or disability; provided
further any Capital Stock held by any future, current or former employee, director, officer, member of management, consultant or independent
contractor (or their respective Controlled Investment Affiliates or Immediate Family Members or any permitted transferees thereof) of
the Borrower, any of its Subsidiaries, any Parent Company, or any other entity in which the Borrower or a Restricted Subsidiary has an
Investment and is designated in good faith as an “affiliate” by the Board of Directors (or the compensation committee thereof),
in each case pursuant to any equity subscription or equity holders’ agreement, management equity plan or stock option plan or any
other management or employee benefit plan or agreement will not constitute Disqualified Stock solely because it may be required to be
repurchased by the Borrower or any Subsidiary in order to satisfy applicable statutory or regulatory obligations or as a result of such
employee’s, director’s, officer’s, management member’s, consultant’s or independent contractor’s termination,
death or disability. For the purposes hereof, the aggregate principal amount of Disqualified Stock will be deemed to be equal to the greater
of its voluntary or involuntary liquidation preference and maximum fixed repurchase price, determined on a consolidated basis in accordance
with GAAP, and the “maximum fixed repurchase price” of any Disqualified Stock that does not have a fixed repurchase price
will be calculated in accordance with the terms of such Disqualified Stock as if such Disqualified Stock were purchased on any date on
which the Consolidated Total Debt, or Consolidated Secured Debt, as applicable, will be required to be determined pursuant to this Agreement,
and if such price is based upon, or measured by, the fair market value of such Disqualified Stock, such fair market value shall be determined
in good faith by the Borrower.

 

    	 	29	 

     

    

 

“Dollar” and “$”
mean lawful money of the United States.

 

“Domestic Subsidiary” means any
direct or indirect Subsidiary of the Borrower that is organized under the Laws of the United States, any state thereof or the District
of Columbia.

 

“ECF Payment Amount” has the meaning
specified in Section 2.05(2)(a).

 

“ECF Percentage” has the meaning
specified in Section 2.05(2)(a).

 

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

 

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

 

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

 

“Elective Guarantor” has the meaning
specified in the definition of “Guarantor.”

 

“Eligible Assignee” has the meaning
specified in Section 10.07(a).

 

“EMU” means the economic and monetary
union as contemplated in the Treaty on European Union.

 

    	 	30	 

     

    

 

“Enterprise Transformative Event”
means any merger, acquisition, Investment, dissolution, liquidation, consolidation or disposition, in any such case by Holdings,
the Borrower, any Restricted Subsidiary or any Parent Company that is either (a) not permitted by the terms of any Loan Document
immediately prior to the consummation of such transaction or (b) if permitted by the terms of the Loan Documents immediately prior
to the consummation of such transaction, would not provide Holdings, the Borrower and the Borrower’s Restricted Subsidiaries with
adequate flexibility under the Loan Documents for the continuation or expansion of their combined operations following such consummation,
as reasonably determined by the Borrower acting in good faith.

 

“Environment” means ambient air,
indoor air, surface water, groundwater, drinking water, soil, surface and sub-surface strata, and natural resources such as wetlands,
flora and fauna.

 

“Environmental Claim” means any
and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation,
investigations (other than internal reports prepared by any Loan Party or any of its Subsidiaries (a) in the ordinary course of such
Person’s business or (b) as required in connection with a financing transaction or an acquisition or disposition of real estate)
or proceedings with respect to any Environmental Liability or Environmental Law (hereinafter “Claims”), including (i) any
and all Claims by governmental or regulatory authorities for enforcement, cleanup, removal, response, remedial or other actions or damages
pursuant to any Environmental Law and (ii) any and all Claims by any third party seeking damages, contribution, indemnification,
cost recovery, compensation or injunctive relief pursuant to any Environmental Law.

 

“Environmental Laws” means any
and all Laws relating to pollution or the protection of the Environment or, to the extent relating to exposure to Hazardous Materials,
human health.

 

“Environmental Liability” means
any liability (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities) of any Loan Party
or any of its Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the
generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous
Materials, (d) the Release or threatened Release of any Hazardous Materials or (e) any contract or other written agreement pursuant
to which liability is assumed or imposed with respect to any of the foregoing.

 

“Environmental Permit” means any
permit, approval, identification number, license or other authorization required under any Environmental Law.

 

“Equal Priority Intercreditor Agreement”
means, to the extent executed in connection with the incurrence of Indebtedness secured by Liens on the Collateral which are intended
to rank equal in priority to the Liens on the Collateral securing the First Lien Obligations under this Agreement (but without regard
to the control of remedies), at the option of the Borrower and the Administrative Agent acting together in good faith, any of (a) an
intercreditor agreement substantially in the form of Exhibit G-1 or (b) a customary intercreditor agreement in form and
substance reasonably acceptable to the Administrative Agent and the Borrower, which agreement shall provide that the Liens on the Collateral
securing such Indebtedness shall rank equal in priority to the Liens on the Collateral securing the First Lien Obligations under this
Agreement (but without regard to the control of remedies), in each case with such modifications thereto as the Administrative Agent and
the Borrower may agree.

 

“Equity Interests” means, with
respect to any Person, the Capital Stock of such Person and all warrants, options or other rights to acquire Capital Stock of such Person,
but excluding any debt security that is convertible into, or exchangeable for, Capital Stock of such Person.

 

“Equity Offering” means any public
or private sale of common equity or Preferred Stock of the Borrower or any Parent Company (excluding Disqualified Stock), other than:

 

(1)           public
offerings with respect to the Borrower’s or any Parent Company’s common equity registered on Form S-4 or Form S-8;

 

(2)           issuances
to any Restricted Subsidiary of the Borrower; and

 

    	 	31	 

     

    

 

(3)           any
such public or private sale that constitutes an Excluded Contribution.

 

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

 

“ERISA Affiliate” means any trade
or business (whether or not incorporated) that together with any Loan Party is treated as a single employer within the meaning of Section 414
of the Code or Section 4001 of ERISA.

 

“ERISA Event” means (a) a
Reportable Event with respect to a Pension Plan; (b) a withdrawal by any Loan Party or any of their respective ERISA Affiliates from
a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of
ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete
or partial withdrawal by any Loan Party or any of their respective ERISA Affiliates from a Multiemployer Plan, written notification of
any Loan Party or any of their respective ERISA Affiliates concerning the imposition of withdrawal liability or written notification that
a Multiemployer Plan is “insolvent” (within the meaning of Section 4245 of ERISA) or has been determined to be in “endangered”
or “critical” status (within the meaning of Section 432 of the Code or Section 305 of ERISA); (d) the filing
under Section 4041(c) of ERISA of a notice of intent to terminate a Pension Plan, the treatment of a Pension Plan or Multiemployer
Plan amendment as a termination under Sections 4041 or 4041A of ERISA, or the commencement in writing of proceedings by the PBGC to terminate
a Pension Plan or Multiemployer Plan; (e) the imposition of any liability under Title IV of ERISA with respect to the termination
of any Pension Plan or Multiemployer Plan, other than for the payment of PBGC premiums due but not delinquent under Section 4007
of ERISA, upon any Loan Party or any of their respective ERISA Affiliates; (f) an event or condition which constitutes grounds under
Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan;
(g) a failure to satisfy the minimum funding standard (within the meaning of Section 302 of ERISA or Section 412 of the
Code) with respect to a Pension Plan, whether or not waived; (h) the application for a minimum funding waiver under Section 302(c) of
ERISA with respect to a Pension Plan; (i) the imposition of a lien under Section 303(k) of ERISA or Section 430(k) of
the Code with respect to any Pension Plan; (j) a determination that any Pension Plan is in “at risk” status (within the
meaning of Section 303 of ERISA or Section 430 of the Code); or (k) the occurrence of a nonexempt prohibited transaction
with respect to any Pension Plan maintained or contributed to by any Loan Party or any of their respective ERISA Affiliates (within the
meaning of Section 4975 of the Code or Section 406 of ERISA) which could result in liability to any Loan Party.

 

“Erroneous Payment” has the meaning
specified in Section 9.10(a).

 

“Erroneous Payment Deficiency Assignment”
has the meaning specified in Section 9.10(d)(i).

 

“Erroneous Payment Impacted Class”
has the meaning specified in Section 9.10(d)(i).

 

“Erroneous Payment Return Deficiency”
has the meaning specified in Section 9.10(d)(i).

 

“Erroneous Payment Subrogation Rights”
has the meaning specified in Section 9.10(e).

 

“Escrowed Proceeds” means the
proceeds from the offering of any debt securities or other Indebtedness paid into an escrow account with an independent escrow agent on
the date of the applicable offering or incurrence pursuant to escrow arrangements that permit the release of amounts on deposit in such
escrow account upon satisfaction of certain conditions or the occurrence of certain events. The term “Escrowed Proceeds” shall
include any interest earned on the amounts held in escrow.

 

“Euro” or “euro”
means the single currency of participating member states of the EMU.

 

“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” has the meaning
specified in Section 8.01.

 

    	 	32	 

     

    

 

“Excess Cash Flow” means, for
any period, an amount equal to the excess of:

 

(1)           the
sum, without duplication, of:

 

(a)           Consolidated
Net Income of the Borrower for such period,

 

(b)           an
amount equal to the amount of all non-cash charges (including depreciation and amortization) for such period to the extent deducted in
arriving at such Consolidated Net Income,

 

(c)           decreases
in Consolidated Working Capital (except as a result of the reclassification of items from short-term to long-term or vice versa) and,
without duplication, decreases in long-term accounts receivable and increases in the long-term portion of deferred revenue (except as
a result of the reclassification of items from short-term to long-term or vice versa), in each case, for such period (other than any such
decreases or increases, as applicable, arising from acquisitions or Asset Sales outside the ordinary course of assets by the Borrower
or any Restricted Subsidiary during such period or the application of recapitalization or purchase accounting),

 

(d)           the
amount deducted as tax expense in determining Consolidated Net Income to the extent in excess of cash taxes paid in such period,

 

(e)           cash
receipts in respect of Hedge Agreements during such fiscal year to the extent not otherwise included in such Consolidated Net Income,
and

 

(f)           the
amount of non-cash extraordinary, non-recurring or unusual losses (including any loss on asset sales, disposals or abandonments (other
than asset sales, disposals or abandonments in the ordinary course of business)) to the extent deducted in arriving at such Consolidated
Net Income; over

 

(2)           the
sum, without duplication, of:

 

(a)           an
amount equal to the amount of all non-cash credits,

 

(b)           without
duplication of amounts deducted pursuant to clause (j) below in prior fiscal years, the amount of Capital Expenditures, Capitalized
Software Expenditures or acquisitions of intellectual property accrued or made in cash during such period, in each case except to the
extent financed with the proceeds of Funded Debt (other than any Indebtedness under any revolving credit facilities) of the Borrower or
any Restricted Subsidiary (unless such Indebtedness has been repaid),

 

(c)           the
aggregate amount of all principal payments of Indebtedness of the Borrower and the Restricted Subsidiaries (including (i) the principal
component of payments in respect of Capitalized Lease Obligations, (ii) all scheduled principal repayments of Loans, Permitted Incremental
Equivalent Debt and Credit Agreement Refinancing Indebtedness (or any Indebtedness representing Refinancing Indebtedness of any of the
foregoing in accordance with the corresponding provisions of the governing documentation thereof), in each case to the extent such payments
are permitted hereunder and actually made and (iii) the amount of any scheduled repayment of Term Loans pursuant to Section 2.07
and mandatory prepayment of Term Loans pursuant to Section 2.05(2)(b) (or any Indebtedness representing Refinancing Indebtedness
in respect thereof in accordance with the corresponding provisions of the governing documentation thereof), and any mandatory Discharge
of Permitted Incremental Equivalent Debt or Credit Agreement Refinancing Indebtedness (or any Indebtedness representing Refinancing Indebtedness
of any of the foregoing in accordance with the corresponding provisions of the governing documentation thereof) pursuant to the corresponding
provisions of the governing documentation thereof, in each case, to the extent required due to an Asset Sale or Casualty Event that resulted
in an increase to Consolidated Net Income for such period and not in excess of the amount of such increase, but excluding (x) all
other prepayments of Term Loans, (y) all prepayments of Revolving Loans and all prepayments in respect of any other revolving credit
facility, except to the extent there is an equivalent permanent reduction in commitments thereunder and (z) payments on any Subordinated
Indebtedness, except in each case to the extent permitted to be paid pursuant to Section 7.05) made during such period, in each case,
except to the extent financed with the proceeds of Funded Debt (other than any Indebtedness under any revolving credit facilities) of
the Borrower or any Restricted Subsidiary (unless such Indebtedness has been repaid),

 

    	 	33	 

     

    

 

(d)           increases
in Consolidated Working Capital (except as a result of the reclassification of items from short-term to long-term or vice versa) and,
without duplication, increases in long-term accounts receivable and decreases in the long-term portion of deferred revenue (except as
a result of the reclassification of items from short-term to long-term or vice versa), in each case, for such period (other than any such
increases or decreases, as applicable, arising from acquisitions or Asset Sales outside the ordinary course by the Borrower or any Restricted
Subsidiary during such period or the application of recapitalization or purchase accounting),

 

(e)           cash
payments by the Borrower and the Restricted Subsidiaries during such period in respect of long-term liabilities of the Borrower and the
Restricted Subsidiaries (other than Indebtedness) to the extent such payments are not expensed during such period or are not deducted
in calculating Consolidated Net Income,

 

(f)           without
duplication of amounts deducted pursuant to clause (j) below in prior fiscal years, the amount of cash consideration paid by the
Borrower and the Restricted Subsidiaries (on a consolidated basis) in connection with investments made during such period (including Permitted
Acquisitions, investments constituting Permitted Investments and investments made pursuant to Section 7.05, but excluding (x) any
Investment(s) in Cash Equivalents or Investment Grade Securities and Investments that were Cash Equivalents or Investment Grade Securities
when made and (y) intercompany Investments made by or among the Borrower and its Restricted Subsidiaries), except to the extent such
investments were financed with the proceeds of Funded Debt (other than any Indebtedness under any revolving credit facilities) of the
Borrower or any Restricted Subsidiary (unless such Indebtedness has been repaid),

 

(g)           the
amount of Restricted Payments of the type referred to in clauses (A), (B) and (C) of the definition thereof paid in cash during
such period (other than (x) Restricted Payments made pursuant to Section 7.05(b)(15) and (y) intercompany Restricted Payments
made by or among the Borrower and its Restricted Subsidiaries), except to the extent such Restricted Payments were financed with the proceeds
of Funded Debt (other than any Indebtedness under any revolving credit facilities) of the Borrower or any Restricted Subsidiary (unless
such Indebtedness has been repaid),

 

(h)           the
aggregate amount of expenditures (including expenditures for the payment of financing fees) paid in cash during such period to the extent
that such expenditures are not expensed during such period or are not deducted in calculating Consolidated Net Income, except to the extent
such expenditures were financed with the proceeds of Funded Debt (other than any Indebtedness under any revolving credit facilities) of
the Borrower or any Restricted Subsidiary (unless such Indebtedness has been repaid),

 

(i)           the
aggregate amount of any premium, make-whole or penalty payments actually paid in cash by the Borrower and the Restricted Subsidiaries
during such period that are made in connection with any prepayment or redemption of Indebtedness to the extent (x) such premium,
make-whole or penalty payments were not expensed during such period or are not deducted in calculating Consolidated Net Income and (y) such
prepayments or redemptions reduced Excess Cash Flow pursuant to clause (2)(c) above or reduced the mandatory prepayment required
by Section 2.05(2)(a),

 

    	 	34	 

     

    

 

(j)           without
duplication of amounts deducted from Excess Cash Flow in other periods, and at the option of the Borrower, (1) the aggregate consideration
required to be paid in cash by the Borrower or any of its Restricted Subsidiaries pursuant to binding contracts (the “Contract
Consideration”) entered into prior to or during such period and (2) any planned cash expenditures by the Borrower or any
of its Restricted Subsidiaries (the “Planned Expenditures”), in the case of each of the preceding clauses (1) and
(2), relating to Permitted Acquisitions or other investments, Capital Expenditures, Restricted Payments, acquisitions of intellectual
property, any scheduled payment of Indebtedness that was permitted by the terms of this Agreement to be incurred and paid or permitted
tax distributions, in each case, to be consummated or made, as applicable, during the period of four consecutive fiscal quarters of the
Borrower following the end of such period (except to the extent financed with the proceeds of long-term Indebtedness (other than revolving
Indebtedness)); provided that to the extent that the aggregate amount of internally generated cash flow actually utilized to finance
such Permitted Acquisitions or other investments, Capital Expenditures, Restricted Payments, acquisitions of intellectual property, permitted
scheduled payments of Indebtedness that were permitted by the terms of this Agreement to be incurred and paid or permitted tax distributions
during such following period of four consecutive fiscal quarters is less than the Contract Consideration and Planned Expenditures, the
amount of such shortfall shall be added to the calculation of Excess Cash Flow, at the end of such period of four consecutive fiscal quarters,

 

(k)           the
amount of cash taxes (including penalties and interest) paid or tax reserves set aside or payable (without duplication) in such period
plus the amount of distributions with respect to taxes made in such period under Section 7.05(b)(14), to the extent they exceed
the amount of tax expense deducted in determining Consolidated Net Income for such period,

 

(l)           cash
expenditures in respect of Hedging Obligations during such fiscal year to the extent not deducted in arriving at such Consolidated Net
Income,

 

(m)           any
fees, expenses or charges incurred during such period (including the Transaction Expenses), or any amortization thereof for such period,
in connection with any acquisition, investment, disposition, incurrence or repayment of Indebtedness, issuance of Equity Interests, refinancing
transaction or amendment or modification of any debt instrument (including any amendment or other modification of this Agreement or the
other Loan Documents) and including, in each case, any such transaction undertaken but not completed, and any charges or non-recurring
merger costs incurred during such period as a result of any such transaction, in each case whether or not successful,

 

(n)           the
amount of non-cash extraordinary, non-recurring or unusual gains (including any gains on asset sales, disposals or abandonments (other
than asset sales, disposals or abandonments in the ordinary course of business) to the extent included in determining Consolidated Net
Income, and

 

(o)           at
the option of the Borrower, any amounts in respect of investments (including Permitted Acquisitions, Investments constituting Permitted
Investments and Investments made pursuant to Section 7.05) and Restricted Payments (including related earnouts and similar payments)
which could have been deducted pursuant to clauses (f) or (g) above if made in such period, but which are made after the end
of such period and prior to the date upon which a mandatory prepayment for such period would be required under Section 2.05(2)(a) (which
amounts, if so deducted in accordance with this clause (o), shall not affect the calculation of Excess Cash Flow in any future period).

 

“Exchange Act” means the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

 

    	 	35	 

     

    

 

“Excluded Assets” means (i) any
fee-owned real property (other than Material Real Property) and any leasehold interest in real property, (ii) motor vehicles and
other assets subject to certificates of title, except to the extent a security interest therein can be perfected by the filing of a UCC
financing statement, (iii) all commercial tort claims that are not expected to result in a judgment or settlement payment in excess
of $10.0 million (as determined by the Borrower in good faith), (iv) any governmental or regulatory licenses, authorizations, certificates,
charters, franchises, approvals and consents (whether Federal, State, Provincial or otherwise) to the extent a security interest therein
is prohibited or restricted thereby or requires any consent or authorization from a Governmental Authority not obtained (without any requirement
to obtain such consent or authorization) other than to the extent such prohibition or restriction is ineffective under the UCC or other
applicable Law notwithstanding such prohibition and other than proceeds and receivables thereof, the assignment of which is expressly
deemed effective under the UCC, (v) assets to the extent the pledge thereof or grant of security interests therein (x) is prohibited
or restricted by any applicable Law, rule or regulation (other than proceeds and receivables thereof, the assignment of which is
expressly deemed effective under the UCC or other applicable Law notwithstanding such prohibition), (y) would cause the destruction,
invalidation or abandonment of such asset under applicable Law (solely with respect to any intellectual property), or (z) requires
any consent, approval, license or other authorization of any third party (other than Holdings or its Subsidiaries) pursuant to a contract
binding on such asset (provided that such requirement existed on the Closing Date or at the time of the acquisition of such asset
and was not incurred in contemplation thereof (other than in the case of capital leases and purchase money financings)) or Governmental
Authority not obtained (without any requirement to obtain such consent, approval, license or other authorization) after giving effect
to the anti-assignment provisions of the UCC, (vi) margin stock and Equity Interests in any Person other than the Borrower and wholly
owned Restricted Subsidiaries, (vii) Equity Interests in Immaterial Subsidiaries and Excluded Subsidiaries (other than first tier
Foreign Subsidiaries and first tier CFC Holdcos that are Restricted Subsidiaries; provided that in the case of any first tier Foreign
Subsidiary or first tier CFC Holdco, the pledge of the Equity Interests of such Subsidiary shall be subject to clause (viii) below),
(viii) Voting Stock in excess of 65% of the total issued and outstanding Voting Stock of a Foreign Subsidiary or CFC Holdco, (ix) any
lease, license or agreement (not otherwise subject to clause (iv) above) or any property that is subject to a purchase money security
interest or similar arrangement, in each case permitted by this Agreement, to the extent that a grant of a security interest therein (x) would
violate or invalidate such lease, license or agreement or purchase money security interest or similar arrangement or create a right of
termination in favor of any other party thereto (other than Holdings or any of its Subsidiaries) after giving effect to the applicable
anti-assignment provisions of the UCC or other applicable Law or (y) would require governmental or regulatory approval, consent or
authorization not obtained (without any requirement to obtain such approval, consent or authorization), other than proceeds and receivables
thereof, the assignment of which is expressly deemed effective under the UCC or other applicable Law notwithstanding such prohibition,
(x) letter of credit rights, except to the extent the security interest therein is accomplished by the filing of a UCC financing
statement, (xi) any intent-to-use trademark applications filed in the United States Patent and Trademark Office, pursuant to Section 1(b) of
the Lanham Act, 15 U.S.C. Section 1051, prior to the accepted filing of a “Statement of Use” and issuance of a “Certificate
of Registration” pursuant to Section 1(d) of the Lanham Act or an accepted filing of an “Amendment to Allege Use”
whereby such intent-to-use trademark application is converted to a “use in commerce” application pursuant to Section 1(c) of
the Lanham Act, (xii) assets where the burden or cost (including any adverse tax consequences) of obtaining a security interest therein
or perfection thereof exceeds the practical benefit to the Lenders afforded thereby as reasonably determined between the Borrower and
the Administrative Agent, (xiii) any assets to the extent a security interest in such assets or perfection thereof would result in
material adverse tax consequences to the Borrower, any Parent Company or any Restricted Subsidiary as reasonably determined by the Borrower
in good faith, in consultation with the Administrative Agent, (xiv) any assets located in or governed by any non-U.S. jurisdiction
law or regulation (other than (x) equity interests and intercompany debt of Foreign Subsidiaries and certain disregarded entities
otherwise required to be pledged pursuant to the Collateral Documents and (y) assets that can be perfected by the filing of a UCC
financing statement), including any intellectual property located in a non-U.S. jurisdiction and (xv) cash and Cash Equivalents (except
to the extent constituting identifiable proceeds of Collateral which is perfected by the filing of a UCC financing statement), deposit,
securities, commodities and other accounts, securities entitlements and related assets held in such account except, in each case, to the
extent a security interest therein is perfected by filing of a UCC financing statement and other than any Cash Collateral, Cash Collateral
Account or other cash or assets deposited with a Secured Party as Collateral; provided that the Borrower’s and the Guarantors’
rights under or relating to the Cable Franchise Agreements, Licenses, or Governmental Authorizations issued by the FCC, PUCs, or cable
franchising authorities and the proceeds of such Cable Franchise Agreements, Licenses, or Governmental Authorizations shall not constitute
Excluded Assets and shall constitute Collateral, unless otherwise expressly excluded pursuant to Article II of the Security Agreement.

 

    	 	36	 

     

    

 

“Excluded Contribution” means
net cash proceeds or the fair market value of marketable securities or the fair market value of Qualified Proceeds received by the Borrower
from:

 

(1)           contributions
to its common equity capital;

 

(2)           dividends,
distributions, fees and other payments from any joint ventures that are not Restricted Subsidiaries; and

 

(3)           the
sale (other than to a Restricted Subsidiary of the Borrower or to any management equity plan or stock option plan or any other management
or employee benefit plan or agreement of the Borrower) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock)
of the Borrower;

 

in each case, designated as Excluded Contributions pursuant to an Officer’s
Certificate and that are excluded from the calculation set forth in clause (3) of Section 7.05(a); provided that Excluded
Contributions shall not include Cure Amounts.

 

“Excluded
Proceeds” means, with respect to any Asset Sale or Casualty Event, the sum of, (1) any Net Proceeds therefrom that
constitute Declined Proceeds and (2) any Net Proceeds therefrom that otherwise are waived by the Required Facility Lenders from the
requirement to be applied to prepay the applicable Term Loans pursuant to Section 2.05(2)(b).

 

“Excluded Subsidiaries” means
all of the following and “Excluded Subsidiary” means any of them:

 

(1)           any
Subsidiary that is not a direct, wholly owned Subsidiary of the Borrower or a Subsidiary Guarantor,

 

(2)           any
Foreign Subsidiary,

 

(3)           any
CFC Holdco,

 

(4)           any
Domestic Subsidiary that is a Subsidiary of any CFC,

 

(5)           any
Subsidiary (including any regulated entity that is subject to net worth or net capital or similar capital and surplus restrictions) that
is prohibited or restricted by applicable Law or by Contractual Obligation (including in respect of assumed Indebtedness permitted hereunder)
existing on the Closing Date (or, with respect to any Subsidiary acquired by the Borrower or a Restricted Subsidiary after the Closing
Date (and so long as such Contractual Obligation was not incurred in contemplation of such acquisition), on the date such Subsidiary is
so acquired) from providing a Guaranty (including any Broker-Dealer Regulated Subsidiary) or if such Guaranty would require governmental
(including regulatory) or third party (other than any Loan Party or their respective Subsidiaries) consent, approval, license or authorization,

 

(6)           any
special purpose vehicle (or similar entity) or any Securitization Subsidiary,

 

(7)           any
Captive Insurance Subsidiary or not-for-profit Subsidiary,

 

(8)           any
Subsidiary that is not a Material Subsidiary,

 

(9)           any
Subsidiary with respect to which, in the reasonable judgment of the Administrative Agent and the Borrower, the burden or cost (including
any adverse tax consequences) of providing the Guaranty will outweigh the benefits to be obtained by the Lenders therefrom, and

 

(10)           any
Unrestricted Subsidiary.

 

    	 	37	 

     

    

 

“Excluded Swap Obligation” means,
with respect to any Loan Party, (a) any obligation to pay or perform under any agreement, contract, or transaction that constitutes
a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act (each such obligation, a “Swap Obligation”),
if, and to the extent that, all or a portion of the guarantee of such Loan Party of, or the grant by such Loan Party of a security interest
to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation,
or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (i) by virtue
of such Loan Party’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity
Exchange Act and the regulations thereunder (determined after giving effect to Section 3.02 of the Guaranty and any other “keepwell,
support or other agreement” for the benefit of such Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity
Exchange Act) at the time the guarantee of such Loan Party, or a grant by such Loan Party of a security interest, becomes effective with
respect to such Swap Obligation, or (ii) in the case of a Swap Obligation that is subject to a clearing requirement pursuant to section
2(h) of the Commodity Exchange Act, because such Loan Party is a “financial entity,” as defined in section 2(h)(7)(C) of
the Commodity Exchange Act, at the time the guarantee of (or grant of such security interest by, as applicable) such Loan Party becomes
or would become effective with respect to such Swap Obligation, or (b) any other Swap Obligation designated as an “Excluded
Swap Obligation” of such Loan Party as specified in any agreement between the relevant Loan Parties and hedge counterparty applicable
to such Swap Obligations. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply
only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee or security interest becomes excluded
in accordance with the first sentence of this definition.

 

“Excluded Taxes” means, with respect
to each Agent and each Lender,

 

(1)           any
tax imposed on (or measured by) such Agent or Lender’s net income or net profits (or franchise or net worth tax in lieu of such
tax on net income or net profits) imposed by a jurisdiction as a result of such Agent or Lender being organized under the laws of or having
its principal office or applicable Lending Office located in such jurisdiction or as a result of any other present or former connection
between such Agent or Lender and the jurisdiction (including as a result of such Agent or Lender carrying on a trade or business, having
a permanent establishment or being a resident for tax purposes in such jurisdiction), other than a connection arising solely from such
Agent or Lender having executed, delivered, enforced, 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 sold or assigned an interest in, any Loan or
Loan Document,

 

(2)           any
branch profits tax under Section 884(a) of the Code, or any similar tax, imposed by any jurisdiction described in clause (1),

 

(3)           other
than with respect to and to the extent that any Lender becomes a party hereto pursuant to the Borrower’s request under Section 3.07,
any U.S. federal withholding tax that is withheld or required to be withheld on amounts payable to or for the account of a Lender with
respect to an applicable interest in a Loan or Commitment pursuant to a Law in effect on the date such Lender (i) acquires such interest
in the applicable Commitment or, if such Lender did not fund the applicable Loan pursuant to a prior Commitment, on the date such Lender
acquires the applicable interest in such Loan (or where the Lender is a partnership for U.S. federal income tax purposes, pursuant to
a Law in effect on the later of the date on which such Lender acquires such interest or the date on which the affected partner becomes
a partner of such Lender), or (ii) designates a new Lending Office (or where the Lender is a partnership for U.S. federal income
tax purposes, pursuant to a Law in effect on the later of the date on which the Lender designates a new Lending Office or, if applicable,
the date on which the affected partner designates a new Lending Office) except, in the case of a Lender or partner that designates a new
Lending Office or is an assignee, to the extent that such Lender or partner (or its assignor, if any) was entitled, immediately prior
to the time of designation of a new Lending Office (or assignment), to receive amounts from a Loan Party with respect to such U.S. federal
tax pursuant to Section 3.01,

 

(4)           any
withholding tax attributable to such Lender’s failure to comply with Section 3.01(3),

 

(5)           any
tax imposed under FATCA,

 

    	 	38	 

     

    

 

(6)           any
U.S. federal backup withholding under Section 3406 of the Code, and

 

(7)           any
interest, additions to taxes and penalties with respect to any taxes described in clauses (1) through (6) of this definition.

 

“Existing
Credit Agreement” means that certain Credit Agreement, dated as of July 17, 2012 among the Borrower, Holdings, the
lenders from time to time parties thereto and JPMorgan Chase Bank, N.A., as administrative agent, as amended, restated or otherwise modified
from time to time.

 

“Existing Revolving Class” has
the meaning specified in Section 2.16(2).

 

“Existing Term Loan Class” has
the meaning specified in Section 2.16(1).

 

“Extended Revolving Commitments”
has the meaning specified in Section 2.16(2).

 

“Extended Term Loans” has the
meaning specified in Section 2.16(1).

 

“Extending Lender” means an Extending
Revolving Lender or an Extending Term Lender, as the case may be.

 

“Extending Revolving Lender” has
the meaning specified in Section 2.16(3).

 

“Extending Term Lender” has the
meaning specified in Section 2.16(3).

 

“Extension” means the establishment
of an Extension Series by amending a Loan pursuant to Section 2.16 and the applicable Extension Amendment.

 

“Extension Amendment” has the
meaning specified in Section 2.16(4).

 

“Extension Election” has the meaning
specified in Section 2.16(3).

 

“Extension Minimum Condition”
means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request,
in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

 

“Extension Request” means any
Term Loan Extension Request or any Revolving Extension Request, as the case may be.

 

“Extension Series” means any Term
Loan Extension Series or a Revolving Extension Series, as the case may be.

 

“Facilities” means the Closing
Date Term Loans, the Term B Loans, the Revolving Facility, a given Extension Series of Extended Revolving Commitments, a given Class of
Other Term Loans, a given Extension Series of Extended Term Loans, a given Class of Incremental Term Loans, a given Class of
Incremental Revolving Commitments, any Other Revolving Loan (or Commitment) or a given Class of Replacement Loans, as the context
may require, and “Facility” means any of them.

 

“fair market value” means, with
respect to any asset or liability, the fair market value of such asset or liability as determined by the Borrower in good faith.

 

“FATCA” means Sections 1471 through
1474 of the Code as in effect on the date hereof or any amended or successor version thereof that is substantively comparable and not
materially more onerous to comply with (and, in each case, any current or future regulations promulgated thereunder or official interpretations
thereof), any applicable intergovernmental agreement entered into in respect thereof, and any provision of law or administrative guidance
implementing or interpreting such provisions, including any agreements entered into pursuant to Section 1471(b)(1) of the Code
as of the date hereof (or any amended or successor version described above) 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 Code.

 

    	 	39	 

     

    

 

“FCC” means the Federal Communications
Commission, or any successor governmental agency of the United States having jurisdiction over the use of radio spectrum and/or the provision
of communications, telecommunications, information, or video services.

 

“FCPA” has the meaning specified
in Section 5.01.

 

“Federal Funds Rate” means, for
any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal
Reserve System, as published by the Federal Reserve Bank on the Business Day next succeeding such day; provided that (a) if
such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business
Day as so published on the next succeeding Business Day and (b) if no such rate is so published on such next succeeding Business
Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%)
of the quotations for the day for such transactions received by the Administrative Agent from three depository institutions of recognized
standing selected by it.

 

“Financial
Buyer” means any private equity or infrastructure fund and any limited partner that invests in the foregoing that, together
with their affiliated funds and managed accounts, have committed assets under management in excess of $3.0 billion.

 

“Financial Covenant” has the meaning
specified in Section 7.09(1).

 

“Financial Covenant Cross Default”
has the meaning specified in Section 8.01(2).

 

“Financial Covenant Event of Default”
has the meaning specified in Section 8.01(2).

 

“Financial Officer” means, with
respect to a Person, the chief financial officer, accounting officer, treasurer, controller or other senior financial or accounting officer
of such Person, as appropriate.

 

“First Lien Obligations” means
the Obligations, the Permitted Incremental Equivalent Debt and the Credit Agreement Refinancing Indebtedness, in each case, that are,
or purported to be, secured by the Collateral on an equal priority basis (but without regard to the control of remedies) with liens on
the Collateral securing the Term B Loans. For the avoidance of doubt, “First Lien Obligations” shall include the Term B Loans.

 

“Fixed
Charge Coverage Ratio” means, with respect to any Test Period, the ratio of (a) Consolidated EBITDA of the Borrower
and the Restricted Subsidiaries for such Test Period to (b) Fixed Charges of the Borrower and the Restricted Subsidiaries for such
Test Period, in each case on a pro forma basis with such pro forma adjustments as are appropriate and consistent with Section 1.07.

 

“Fixed Charges” means, with respect
to any Person for any period, the sum of, without duplication:

 

(1)           Consolidated
Interest Expense of such Person for such period;

 

(2)           all
cash dividends or other cash distributions paid (excluding items eliminated in consolidation) on any series of Preferred Stock during
such period; and

 

(3)           all
cash dividends or other cash distributions paid (excluding items eliminated in consolidation) on any series of Disqualified Stock during
such period.

 

    	 	40	 

     

    

 

“Flood Insurance Laws” means,
collectively, (i) National Flood Insurance Reform Act of 1994 (which comprehensively revised the National Flood Insurance Act of
1968 and the Flood Disaster Protection Act of 1973) as now or hereafter in effect or any successor statute thereto, (ii) the Flood
Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (iii) the Biggert-Waters Flood Insurance
Reform Act of 2012 as now or hereafter in effect or any successor statute thereto.

 

“Floor” means a rate of interest
equal to (a) in the case of the Term Facility, 0.50% and (b) in the case of the Revolving Facility, 0.00%.

 

“Foreign Asset Sale” has the meaning
specified in Section 2.05(2)(h).

 

“Foreign Casualty Event” has the
meaning specified in Section 2.05(2)(h).

 

“Foreign Lender” means a Lender
or Issuing Bank that is not a United States person within the meaning of Section 7701(a)(30) of the Code.

 

“Foreign Plan” means any employee
benefit plan, program or agreement maintained or contributed to by, or entered into with, the Borrower or any Subsidiary of the Borrower
with respect to employees employed outside the United States (other than benefit plans, programs or agreements that are mandated by applicable
Laws).

 

“Foreign Subsidiary” means any
direct or indirect Restricted Subsidiary that is not a Domestic Subsidiary.

 

“Fronting Exposure” means, at
any time there is a Defaulting Lender, with respect to an Issuing Bank, such Defaulting Lender’s Applicable Percentage of the outstanding
L/C Obligations, other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to
other Lenders or Cash Collateralized in accordance with the terms hereof.

 

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

 

“Funded Debt” means all Indebtedness
of the Borrower and the Restricted Subsidiaries for borrowed money that matures more than one year from the date of its creation or matures
within one year from such date that is renewable or extendable, at the option of such Person, to a date more than one year from such date
or arises under a revolving credit or similar agreement that obligates the lender or lenders to extend credit during a period of more
than one year from such date, including Indebtedness in respect of the Loans.

 

“GAAP” means generally accepted
accounting principles in the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board
of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board
or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, as in effect
from time to time. Notwithstanding any other provision contained herein the amount of any Indebtedness under GAAP with respect to Capitalized
Lease Obligations and Attributable Indebtedness shall be determined in accordance with the definition of Capitalized Lease Obligations
and Attributable Indebtedness, respectively.

 

Notwithstanding the foregoing, if at any time any
change occurs after the Closing Date in GAAP or in the application thereof on the computation of any financial ratio or financial requirement,
or compliance with any covenant, set forth in any Loan Document, and either (x) the Borrower shall so request or (y) the Administrative
Agent or the Required Lenders shall so request (in each case, regardless of whether any such request is given before or after such change),
the Administrative Agent, the Lenders and the Borrower will negotiate in good faith to amend (subject to the approval of the Required
Lenders) such ratio, requirement or covenant to preserve the original intent thereof in light of such change in GAAP; provided further
that until so amended, (a) such ratio, requirement or covenant shall continue to be computed in accordance with GAAP prior to such
change therein and (b) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents
required under this Agreement which include a reconciliation between calculations of such ratio or requirement made before and after giving
effect to such change in GAAP.

 

    	 	41	 

     

    

 

“Governmental Authority” means
the government of the United States or any other nation, or of any political subdivision thereof, whether state, local, or otherwise,
and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the
European Union or the European Central Bank).

 

“Governmental Authorizations”
means all permits, Licenses, authorizations, certificates, Cable Franchise Agreements, waivers, concessions, exemptions, orders and other
and approvals issued by or obtained from a Governmental Authority by Holdings, the Borrower or any of the Restricted Subsidiaries, and
in effect as of the date of the Agreement.

 

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

 

“guarantee” means a guarantee
(other than by endorsement of negotiable instruments for collection in the ordinary course of business or consistent with industry practice),
direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of
any Indebtedness or other obligations.

 

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

 

“Guarantor” has the meaning specified
in clause (2) of the definition of “Collateral and Guarantee Requirement.” For avoidance of doubt, the Borrower
may, in its sole discretion, cause any Parent Company or Restricted Subsidiary that is not required to be a Guarantor to Guarantee the
Obligations by causing such Parent Company or Restricted Subsidiary to execute a joinder to the Guaranty (substantially in the form provided
therein or as the Administrative Agent, the Borrower and such Guarantor may otherwise agree) (an “Elective Guarantor”),
and any such Elective Guarantor shall be a Guarantor hereunder for all purposes; provided that (i) in the case of any Parent
Company or Restricted Subsidiary organized in a foreign jurisdiction, the Administrative Agent shall be reasonably satisfied with the
jurisdiction of organization of such Parent Company or Restricted Subsidiary and (ii) the Administrative Agent shall have received
at least two (2) Business Days prior to the effectiveness of such joinder all documentation and other information in respect of such
Elective Guarantor required under applicable “know your customer” and anti-money laundering rules and regulations, including
the USA PATRIOT Act.

 

    	 	42	 

     

    

 

“Guaranty” means (a) the
Guaranty substantially in the form of Exhibit E made by Holdings and each Subsidiary Guarantor, (b) each other guaranty
and guaranty supplement delivered pursuant to Section 6.11 and (c) each other guaranty and guaranty supplement delivered by
any Parent Company or Restricted Subsidiary pursuant to the second sentence of the definition of “Guarantor.”

 

“Hazardous Materials” means all
explosive or radioactive substances or wastes, and all other substances, wastes, pollutants and contaminants and chemicals in any form,
including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas and infectious
or medical wastes, to the extent any of the foregoing are regulated pursuant to, or can form the basis for liability under, any Environmental
Law.

 

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

 

“Hedge Bank” means any Person
party to a Secured Hedge Agreement that is an Agent, a Lender, an Arranger or an Affiliate of any of the foregoing on the Closing Date
or at the time it enters into such Secured Hedge Agreement, in its capacity as a party thereto, whether or not such Person subsequently
ceases to be an Agent, a Lender, an Arranger or an Affiliate of any of the foregoing.

 

“Hedging Obligations” means, with
respect to any Person, the obligations of such Person under any Hedge Agreement. For the avoidance of doubt, any Permitted Convertible
Indebtedness Call Transaction will not constitute Hedging Obligations.

 

“Holdings” means WideOpenWest, Inc.,
a Delaware corporation. “Holdings” shall also include any “Successor Holdings.”

 

“Honor Date” has the meaning specified
in Section 2.03(3)(a).

 

“Identified Participating Lenders”
has the meaning specified in Section 2.05(1)(e)(C)(3).

 

“Identified Qualifying Lenders”
has the meaning specified in Section 2.05(1)(e)(D)(3).

 

“Immaterial Subsidiary” means
any Restricted Subsidiary that is not a Material Subsidiary.

 

“Immediate Family Members” means
with respect to any individual, such individual’s child, stepchild, grandchild or more remote descendant, parent, stepparent, grandparent,
spouse, former spouse, qualified domestic partner, sibling, mother-in-law, father-in-law, son-in-law and daughter-in-law (including, in
each case, adoptive relationships) and any trust, partnership or other bona fide estate-planning vehicle the only beneficiaries of which
are any of the foregoing individuals or any private foundation or fund that is controlled by any of the foregoing individuals or any donor-advised
fund of which any such individual is the donor.

 

“Incremental Amendment” has the
meaning specified in Section 2.14(6).

 

“Incremental Amounts” has the
meaning specified in clause (1) of the definition of Refinancing Indebtedness.

 

    	 	43	 

     

    

 

“Incremental Commitments” has
the meaning specified in Section 2.14(1).

 

“Incremental Facility Closing Date”
has the meaning specified in Section 2.14(4).

 

“Incremental Lenders” has the
meaning specified in Section 2.14(3).

 

“Incremental Loan” has the meaning
specified in Section 2.14(2).

 

“Incremental Loan Request” has
the meaning specified in Section 2.14(1).

 

“Incremental Revolving Commitments”
has the meaning specified in Section 2.14(1).

 

“Incremental Revolving Facility”
has the meaning specified in Section 2.14(1).

 

“Incremental Revolving Lender”
has the meaning specified in Section 2.14(3).

 

“Incremental Revolving Loan” has
the meaning specified in Section 2.14(2).

 

“Incremental Term Commitments”
has the meaning specified in Section 2.14(1).

 

“Incremental Term Lender” has
the meaning specified in Section 2.14(3).

 

“Incremental Term Loan” has the
meaning specified in Section 2.14(2).

 

“Indebtedness” means, with respect
to any Person, without duplication:

 

(1)           any
indebtedness (including principal and premium) of such Person, whether or not contingent:

 

(a)           in
respect of borrowed money;

 

(b)           evidenced
by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement
agreements in respect thereof);

 

(c)           representing
the deferred and unpaid balance of the purchase price of any property (including Capitalized Lease Obligations) due more than twelve months
after such property is acquired, except (i) any such balance that constitutes an obligation in respect of a commercial letter of
credit, a trade payable or similar obligation to a trade creditor, in each case accrued in the ordinary course of business or consistent
with industry practice, (ii) any earn-out obligations until such obligation is reflected as a liability on the balance sheet (excluding
any footnotes thereto) of such Person in accordance with GAAP and is not paid within 60 days after becoming due and payable and (iii) accruals
for payroll and other liabilities accrued in the ordinary course of business; or

 

(d)           representing
the net obligations under any Hedging Obligations;

 

if and to the extent that any of the foregoing Indebtedness
(other than obligations in respect of letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet (excluding
the footnotes thereto) of such Person prepared in accordance with GAAP; provided that Indebtedness of any Parent Company appearing
upon the balance sheet of the Borrower solely by reason of push-down accounting under GAAP will be excluded;

 

(2)           to
the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or otherwise, on the
obligations of the type referred to in clause (1) of this definition of a third Person (whether or not such items would appear
upon the balance sheet of such obligor or guarantor), other than by endorsement of negotiable instruments for collection in the ordinary
course of business or consistent with industry practice; and

 

    	 	44	 

     

    

 

(3)           to
the extent not otherwise included, the obligations of the type referred to in clause (1) of this definition of a third Person
secured by a Lien on any asset owned by such first Person, whether or not such Indebtedness is assumed by such first Person; provided
that the amount of such Indebtedness will be the lesser of (i) the fair market value of such asset at such date of determination
and (ii) the amount of such Indebtedness of such other Person; provided that notwithstanding the foregoing, Indebtedness
will be deemed not to include:

 

(i)           Contingent
Obligations incurred in the ordinary course of business or consistent with industry practice (including any Contingent Obligations issued
in connection with operating licenses and telecommunications licenses),

 

(ii)           reimbursement
obligations under commercial letters of credit (provided that unreimbursed amounts under commercial letters of credit will be counted
as Indebtedness three (3) Business Days after such amount is drawn),

 

(iii)           obligations
under or in respect of Qualified Securitization Facilities,

 

(iv)           accrued
expenses,

 

(v)           deferred
or prepaid revenues, and

 

(vi)           asset
retirement obligations and obligations in respect of reclamation and workers compensation (including pensions and retiree medical care);

 

provided
further that Indebtedness will be calculated without giving effect to the effects of Accounting Standards Codification Topic
No. 815, Derivatives and Hedging, and related interpretations to the extent such effects would otherwise increase or decrease
an amount of Indebtedness for any purpose under this Agreement as a result of accounting for any embedded derivatives created by the terms
of such Indebtedness.

 

“Indemnified Liabilities” has
the meaning specified in Section 10.05.

 

“Indemnitees” has the meaning
specified in Section 10.05.

 

“Independent Assets or Operations”
means, with respect to any Parent Company, that Parent Company’s total assets, revenues, income from continuing operations before
income taxes and cash flows from operating activities (excluding in each case amounts related to its investment in the Borrower and the
Restricted Subsidiaries), determined in accordance with GAAP and as shown on the most recent balance sheet of such Parent Company, is
more than 3.0% of such Parent Company’s corresponding consolidated amount.

 

“Independent Financial Advisor”
means an accounting, appraisal, investment banking firm or consultant of nationally recognized standing that, in the good faith judgment
of the Borrower, is qualified to perform the task for which it has been engaged.

 

“Information” has the meaning
specified in Section 10.09.

 

“Intellectual Property Security Agreements”
has the meaning specified in the Security Agreement.

 

“Intercompany Note” means the
Intercompany Note, dated as of the Closing Date, substantially in the form of Exhibit Q executed by the Borrower and each
Restricted Subsidiary party thereto.

 

    	 	45	 

     

    

 

“Intercreditor Agreement” means
any Equal Priority Intercreditor Agreement(s), Junior Lien Intercreditor Agreement(s) or Junior Lien Equal Priority Intercreditor
Agreement that may be executed from time to time.

 

“Interest Payment Date” means,
(a) as to any Loan of any Class other than a Base Rate Loan, the last day of each Interest Period applicable to such Loan and
the applicable Maturity Date of the Loans of such Class; provided that if any Interest Period for a SOFR Loan exceeds three months,
the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates; and
(b) as to any Base Rate Loan of any Class, the last Business Day of each March, June, September and December and the applicable
Maturity Date of the Loans of such Class.

 

“Interest Period” means, as to
each SOFR Loan, the period commencing on the date such SOFR Loan is disbursed or converted to or continued as a SOFR Loan and ending on
the date one or three months thereafter (or, with respect to the initial Interest Period for the Term B Loans, the period set forth in
Section 2.01(1)), or to the extent consented to by each applicable Lender, twelve months, as selected by the Borrower in its Committed
Loan Notice; provided that:

 

(1)           any
Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless
such Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business
Day;

 

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

 

(3)           no
Interest Period shall extend beyond the applicable Maturity Date for the Class of Loans of which such SOFR Loan is a part.

 

“Investment Grade Rating” means
a rating equal to or higher than Baa3 (or the equivalent) by Moody’s or BBB- (or the equivalent) by S&P, or an equivalent rating
by any other Rating Agency selected by the Borrower.

 

“Investment Grade Securities”
means:

 

(1)           securities
issued or directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof (other than
Cash Equivalents);

 

(2)           debt
securities or debt instruments with an Investment Grade Rating, but excluding any debt securities or debt instruments constituting loans
or advances among the Borrower and its Subsidiaries;

 

(3)           investments
in any fund that invests substantially all of its assets in investments of the type described in clauses (1) and (2) of this
definition which fund may also hold immaterial amounts of cash pending investment or distribution; and

 

(4)           corresponding
instruments in countries other than the United States customarily utilized for high quality investments.

 

“Investments” means, with respect
to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees), advances
or capital contributions (excluding accounts receivable, credit card and debit card receivables, trade credit, advances to customers,
commission, travel and similar advances to employees, directors, officers, members of management, consultants and independent contractors,
in each case made in the ordinary course of business or consistent with industry practice), purchases or other acquisitions for consideration
of Indebtedness, Equity Interests or other securities issued by any other Person. For purposes of the definitions of “Permitted
Investments” and “Unrestricted Subsidiary” and Section 7.05,

 

    	 	46	 

     

    

 

(1)           “Investments”
will include the portion (proportionate to the Borrower’s Equity Interest in such Subsidiary) of the fair market value of the net
assets of a Subsidiary of the Borrower at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided that
upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Borrower will be deemed to continue to have a permanent “Investment”
in an Unrestricted Subsidiary in an amount (if positive) equal to:

 

(a)           the
Borrower’s “Investment” in such Subsidiary at the time of such redesignation; minus

 

(b)           the
portion (proportionate to the Borrower’s Equity Interest in such Subsidiary) of the fair market value of the net assets of such
Subsidiary at the time of such redesignation; and

 

(2)           any
property transferred to or from an Unrestricted Subsidiary will be valued at its fair market value at the time of such transfer.

 

Any Investment made by a Restricted Subsidiary with
the proceeds of another Investment permitted under this Agreement shall only constitute a single Investment (it being understood, for
the avoidance of doubt, that such Investment must be an Investment that is permitted under this Agreement as if it were the initial Investment).
The amount of any Investment outstanding at any time will be the original cost of such Investment, reduced by any dividend, distribution,
interest payment, return of capital, repayment or other amount received in cash by the Borrower or a Restricted Subsidiary in respect
of such Investment.

 

“IOSCO” means the International
Organization of Securities Commissions.

 

“IP Rights” has the meaning specified
in Section 5.15.

 

“IRS” means Internal Revenue Service
of the United States.

 

“ISP” means, with respect to any
Letter of Credit, the “International Standby Practices 1998” published by the Institute of International Banking Law &
Practice, Inc. (or such later version thereof as may be in effect at the time of issuance).

 

“Issuing
Bank” means (i) MSSF, (ii) KeyBank National Association, (iii) Bank of America, N.A., (iv) Credit Suisse
AG, Cayman Islands Branch, (v) Goldman Sachs Bank USA, (vi) Regions Bank, (vii) Wells Fargo Bank, N.A. and (viii) Manufacturers
and Traders Trust Company, or, if designated by any of the foregoing, one of its Affiliates or designees (provided that
an Issuing Bank may cause Letters of Credit to be issued by unaffiliated financial institutions and such Letters of Credit shall be treated
as issued by such Issuing Bank for all purposes under the Loan Documents), in each case, in its capacity as an issuer of Letters of Credit
hereunder and solely with respect to its L/C Commitment, together with its permitted successors and assigns and any other Revolving Lender
that becomes an Issuing Bank in accordance with Section 2.03(12).

 

“Issuing Bank Document” means
with respect to any Letter of Credit, the L/C Application, and any other document, agreement and instrument entered into by any Issuing
Bank and the Borrower (or any of its Subsidiaries) or in favor of such Issuing Bank and relating to such Letter of Credit.

 

“Junior Lien Debt” has the meaning
specified in clause (39) of the definition of Permitted Liens.

 

“Junior Lien Equal Priority Intercreditor
Agreement” means, to the extent executed in connection with the incurrence of Indebtedness secured by Liens on the Collateral
which are intended to rank junior in priority to the Liens on the Collateral securing the First Lien Obligations under this Agreement
and junior or equal in priority to Liens on the Collateral securing Junior Lien Debt, at the option of the Borrower and the Administrative
Agent acting together in good faith, a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative
Agent and the Borrower, which agreement shall provide that the Liens on the Collateral securing such Indebtedness shall rank equal in
priority or junior to the Liens on the Collateral securing Junior Lien Debt permitted under this Agreement and shall rank junior in priority
to the Liens on the Collateral securing First Lien Obligations under this Agreement, in each case with such modifications thereto as the
Administrative Agent and the Borrower may agree.

 

    	 	47	 

     

    

 

“Junior Lien Intercreditor Agreement”
means, to the extent executed in connection with the incurrence of Indebtedness secured by Liens on the Collateral which are intended
to rank junior in priority to the Liens on the Collateral securing the First Lien Obligations under this Agreement, at the option of the
Borrower and the Administrative Agent acting together in good faith, either (a) an intercreditor agreement substantially in the form
of Exhibit G-2 or (b) a customary intercreditor agreement in form and substance reasonably acceptable to the Administrative
Agent and the Borrower, which agreement shall provide that the Liens on the Collateral securing such Indebtedness shall rank junior to
the Lien on the Collateral securing the First Lien Obligations under this Agreement, in each case with such modifications thereto as the
Administrative Agent and the Borrower may agree.

 

“L/C Advance” means, with respect
to each Revolving Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

 

“L/C Application” means an application
and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the relevant Issuing Bank.

 

“L/C Borrowing” means an extension
of credit resulting from a drawing under any Letter of Credit which has not been reimbursed prior to the Honor Date or refinanced as a
Revolving Borrowing.

 

“L/C Commitment” means, with respect
to any Person, the amount set forth opposite the name of such Person on Schedule 2.01 hereto under the caption “L/C Commitment.”

 

“L/C Credit Extension” means,
with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the renewal or increase of the
amount thereof.

 

“L/C Expiration Date” means the
day that is five (5) Business Days prior to the scheduled Maturity Date then in effect for the applicable Revolving Facility (or,
if such day is not a Business Day, the next preceding Business Day).

 

“L/C Obligations” means, as at
any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate
of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter
of Credit, the amount of such Letter of Credit shall be the stated amount thereof in effect at such time. For all purposes of this Agreement,
if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of
the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining
available to be drawn.

 

“L/C Sublimit” means an amount
equal to the lesser of (a) $40.0 million and (b) the aggregate amount of the Revolving Commitments. The L/C Sublimit is part
of, and not in addition to, the Revolving Facility.

 

“Latest Maturity Date” means,
at any date of determination, the latest maturity or expiration date applicable to any Loan or Commitment hereunder at such time, including
the latest maturity or expiration date of any Incremental Loan, any Incremental Revolving Commitment, any Other Loan, any Other Revolving
Commitments, any Replacement Loan, any Extended Term Loan or any Extended Revolving Commitment, in each case as extended in accordance
with this Agreement from time to time.

 

“Laws” means, collectively, all
international, foreign, federal, state and local laws (statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative
or judicial precedents or authorities and executive orders, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties,
requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority).

 

    	 	48	 

     

    

 

“Legal Holiday” means Saturday,
Sunday or a day on which commercial banking institutions are not required to be open in the State of New York or at the place of payment.

 

“Lender” has the meaning specified
in the introductory paragraph to this Agreement and, as context requires (including for purposes of the definition of “Secured Parties”),
includes any Issuing Bank and its successors and assigns as permitted hereunder, each of which is referred to herein as a “Lender.”
For the avoidance of doubt, each Additional Lender is a Lender to the extent any such Person has executed and delivered a Refinancing
Amendment, an Incremental Amendment or an amendment in respect of Replacement Loans, as the case may be, and to the extent such Refinancing
Amendment, Incremental Amendment or amendment in respect of Replacement Loans shall have become effective in accordance with the
terms hereof and thereof, and each Extending Lender shall continue to be a Lender. As of the Closing Date, Schedule 2.01 sets forth
the name of each Lender. Notwithstanding the foregoing, no Disqualified Institution that purports to become a Lender hereunder (notwithstanding
the provisions of this Agreement that prohibit Disqualified Institutions from becoming Lenders) without the Borrower’s written consent
shall be entitled to any of the rights or privileges enjoyed by the other Lenders with respect to voting, information and lender meetings;
provided that the Loans of any such Disqualified Institution shall not be excluded for purposes of making a determination of Required
Lenders if the action in question affects such Disqualified Institution in a disproportionately adverse manner than its effect on the
other Lenders; provided, further, that if any assignment or participation is made to any Disqualified Institution without the Borrower’s
prior written consent in violation of clause (v) of Section 10.07(b) the Borrower may, at its sole expense and effort,
upon notice to the applicable Disqualified Institution and the Administrative Agent, (A) terminate any Revolving Commitment of such
Disqualified Institution and repay all obligations of the Borrower owing to such Disqualified Institution in connection with such Revolving
Commitment, (B) in the case of outstanding Term Loans held by Disqualified Institutions, purchase or prepay such Term Loan by paying
the lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Institution paid to acquire such Term
Loans, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder and/or
(C) require such Disqualified Institution to assign, without recourse (in accordance with and subject to the restrictions contained
in Section 10.07), all of its interest, rights and obligations under this Agreement to one or more Eligible Assignees at the lesser
of (x) the principal amount thereof and (y) the amount that such Disqualified Institution paid to acquire such interests, rights
and obligations, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder.

 

“Lender-Related Distress Event”
means, with respect to any Lender or any direct or indirect parent company of such Lender (each, a “Lender-Related Distressed
Person”), (a) that such Lender-Related Distressed Person is or becomes subject to a voluntary or involuntary case under
any Debtor Relief Law, (b) a custodian, conservator, receiver, or similar official is appointed for such Lender-Related Distressed
Person or any substantial part of such Lender-Related Distressed Person’s assets, (c) such Lender-Related Distressed Person
is subject to a forced liquidation, makes a general assignment for the benefit of creditors or is otherwise adjudicated as, or determined
by any Governmental Authority having regulatory authority over such Lender-Related Distressed Person or its assets to be, insolvent or
bankrupt or (d) that such Lender-Related Distressed Person becomes the subject of a Bail-in Action; provided that a Lender-Related
Distress Event shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Equity Interests in any Lender
or any direct or indirect parent company of a Lender by a Governmental Authority or an instrumentality thereof 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 or instrumentality)
to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.

 

“Lender-Related Distressed Person”
shall have the meaning provided in the definition of the term Lender-Related Distress Event.

 

“Lending Office” means, as to
any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other
office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent.

 

“Letter of Credit” means any standby
letter of credit issued hereunder. A Letter of Credit may not be a commercial letter of credit or a trade letter of credit.

 

    	 	49	 

     

    

 

“License” means any license, authorization,
registration, accreditation, approval, qualification, provider number, right, privilege, consent or permit (other than a Cable Franchise
Agreement) issued by any Governmental Authority (including the FCC and any PUC), including microwave licenses, cable television relay
services licenses and television receive only earth station registrations, together with any amendments, supplements and other modifications
thereto.

 

“Lien” means, with respect to
any asset, any mortgage, lien (statutory or otherwise), pledge, hypothecation, charge, security interest or encumbrance of any kind in
respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other
title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any
filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction;
provided that in no event will an operating lease be deemed to constitute a Lien.

 

“Limited Condition Transactions”
means any (1) Permitted Acquisition or other investment permitted hereunder by the Borrower or one or more of its Restricted Subsidiaries
whose consummation is not conditioned on the availability of, or on obtaining, third-party financing, (2) any redemption, repurchase,
defeasance, satisfaction and discharge or repayment of Indebtedness requiring irrevocable notice in advance of such redemption, repurchase,
defeasance, satisfaction and discharge or repayment and (3) transaction undertaken or proposed to be undertaken in connection with
a Permitted Revolver Change of Control or a Permitted Term Loan Change of Control for purposes of determining compliance with clause (a) of
the definition of Permitted Revolver Change of Control and Permitted Term Loan Change of Control.

 

“Loan” means an extension of credit
under Article II by a Lender (x) to the Borrower in the form of a Term Loan or (y) to the Borrower in the form of a Revolving
Loan.

 

“Loan Documents” means, collectively,
(a) this Agreement, (b) the Notes, (c) any Refinancing Amendment, Incremental Amendment, Extension Amendment or amendment
in respect of Replacement Loans, (d) the Guaranty, (e) the Collateral Documents, (f) the Intercreditor Agreements and (g) each
L/C Application.

 

“Loan Increase” means a Term Loan
Increase or Revolving Commitment Increase.

 

“Loan Parties” means, collectively,
(a) Holdings, (b) the Borrower and (c) each Subsidiary Guarantor.

 

“Management Stockholders” means
the members of management (and their Controlled Investment Affiliates and Immediate Family Members and any permitted transferees thereof)
of the Borrower (or a Parent Company) who are holders of Equity Interests of any Parent Company on the Closing Date and the other members
of management from time to time.

 

“Margin Stock” has the meaning
set forth in Regulation U of the Board of Governors of the United States Federal Reserve System, or any successor thereto.

 

“Material Adverse Effect” means
any event, circumstance or condition that has had a materially adverse effect on (a) the business, operations, assets or financial
condition of the Borrower and its Subsidiaries, taken as a whole, (b) the ability of the Loan Parties (taken as a whole) to perform
their payment obligations under the Loan Documents or (c) the rights and remedies of the Lenders, the Collateral Agent or the Administrative
Agent under the Loan Documents.

 

“Material Domestic Subsidiary”
means any Domestic Subsidiary that is a Material Subsidiary.

 

“Material Foreign Subsidiary”
means any Foreign Subsidiary that is a Material Subsidiary.

 

“Material Real Property” means
any fee-owned real property located in the United States and owned by any Loan Party with a fair market value in excess of $10.0 million
on the Closing Date (if owned by a Loan Party on the Closing Date) or at the time of acquisition (if acquired by a Loan Party after the
Closing Date); provided that for the avoidance of doubt, Material Real Property will not include any Excluded Assets (excluding
for this purpose clause (i) of the definition of “Excluded Assets”).

 

    	 	50	 

     

    

 

“Material Subsidiary” means, as
of the Closing Date and thereafter at any date of determination, each Restricted Subsidiary (a) whose Total Assets at the last day
of the most recent Test Period (when taken together with the Total Assets of the Restricted Subsidiaries of such Subsidiary at the last
day of the most recent Test Period) were equal to or greater than 5.0% of Total Assets of the Borrower and the Restricted Subsidiaries
at such date or (b) whose gross revenues for such Test Period (when taken together with the gross revenues of the Restricted Subsidiaries
of such Subsidiary for such Test Period) were equal to or greater than 5.0% of the consolidated gross revenues of the Borrower and the
Restricted Subsidiaries for such Test Period, in each case determined in accordance with GAAP; provided that if at any time and
from time to time after the date which is 30 days after the Closing Date (or such longer period as the Administrative Agent may agree
in its reasonable discretion), Domestic Subsidiaries that are not Guarantors solely because they do not meet the thresholds set forth
in the preceding clause (a) or (b) when combined with Foreign Subsidiaries and CFC Holdcos the equity interests of which are
Excluded Assets solely because they do not meet the thresholds set forth in the preceding clause (a) or (b) comprise in the
aggregate more than (when taken together with the Total Assets of the Restricted Subsidiaries of such Subsidiaries at the last day of
the most recent Test Period) 7.5% of Total Assets of the Borrower and the Restricted Subsidiaries as of the last day of the most recent
Test Period or more than (when taken together with the gross revenues of the Restricted Subsidiaries of such Subsidiaries for such Test
Period) 7.5% of the consolidated gross revenues of the Borrower and the Restricted Subsidiaries for such Test Period, then the Borrower
shall, not later than sixty (60) days after the date by which financial statements for such Test Period were required to be delivered
pursuant to this Agreement (or such longer period as the Administrative Agent may agree in its reasonable discretion), (i) designate
in writing to the Administrative Agent one or more Restricted Subsidiaries as “Material Subsidiaries” to the extent required
such that the foregoing condition ceases to be true and (ii) comply with the provisions of Section 6.11 with respect to any
such Subsidiaries (to the extent applicable). At all times prior to the delivery of the aforementioned financial statements, such determinations
shall be made based on the Pro Forma Financial Statements.

 

“Maturity
Date” means (i) with respect to the Term B Loans, the seventh (7th) anniversary of the Closing Date (the
 “Original Term Loan Maturity Date”), (ii) with respect to the Revolving Facility, to the extent not extended pursuant
to Section 2.16, the fifth (5th) anniversary of the Closing Date (the “Original Revolving Facility Maturity Date”),
(iii) with respect to any Class of Extended Term Loans or Extended Revolving Commitments, the final maturity date as specified
in the applicable Extension Amendment, (iv) with respect to any Other Term Loans or Other Revolving Commitments, the final maturity
date as specified in the applicable Refinancing Amendment, (v) with respect to any Class of Replacement Loans, the final maturity
date as specified in the applicable amendment to this Agreement in respect of such Replacement Loans and (vi) with respect to any
Incremental Loans or Incremental Revolving Commitments, the final maturity date as specified in the applicable Incremental Amendment;
provided, in each case, that if such day is not a Business Day, the applicable Maturity Date shall be the Business Day immediately
succeeding such day.

 

“Maximum Rate” has the meaning
specified in Section 10.11.

 

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

 

“Mortgage Policies” has the meaning
specified in Section 6.11(2)(b)(ii).

 

“Mortgaged Properties” has the
meaning specified in paragraph (5) of the definition of “Collateral and Guarantee Requirement.”

 

“Mortgages” means collectively,
the deeds of trust, trust deeds, hypothecs, deeds to secure debt and mortgages made by the Loan Parties in favor or for the benefit of
the Collateral Agent for the benefit of the Secured Parties in form and substance reasonably satisfactory to the Collateral Agent, including
such modifications as may be required by local laws, pursuant to Section 6.13(2) and any other deeds of trust, trust deeds,
hypothecs, deeds to secure debt or mortgages executed and delivered pursuant to Section 6.11.

 

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

 

    	 	51	 

     

    

 

“Multiemployer Plan” means any
multiemployer plan as defined in Section 4001(a)(3) of ERISA and subject to Title IV of ERISA, to which any Loan Party or any
of their respective ERISA Affiliates makes or is obligated to make contributions, or during the preceding five plan years, has made or
been obligated to make contributions.

 

“Net Income” means, with respect
to any Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of Preferred
Stock dividends.

 

“Net Proceeds” means:

 

(1)           with
respect to any Asset Sale or any Casualty Event, the aggregate cash and Cash Equivalents received by the Borrower or any Restricted Subsidiary
in respect of any Asset Sale or Casualty Event, including any cash and Cash Equivalents received upon the sale or other disposition of
any Designated Non-Cash Consideration received in any Asset Sale, net of the costs relating to such Asset Sale or Casualty Event and the
sale or disposition of such Designated Non-Cash Consideration, including legal, accounting and investment banking fees, payments made
in order to obtain a necessary consent or required by applicable Law, brokerage and sales commissions, title insurance premiums, related
search and recording charges, survey costs and mortgage recording tax paid in connection therewith, all dividends, distributions or other
payments required to be made to minority interest holders in Restricted Subsidiaries as a result of any such Asset Sale or Casualty Event
by a Restricted Subsidiary, the amount of any purchase price or similar adjustment claimed by any Person to be owed by the Borrower or
any Restricted Subsidiary, until such time as such claim will have been settled or otherwise finally resolved, or paid or payable by the
Borrower or any Restricted Subsidiary, in either case in respect of such Asset Sale or Casualty Event, any relocation expenses incurred
as a result thereof, costs and expenses in connection with unwinding any Hedging Obligation in connection therewith, other fees and expenses,
including title and recordation expenses, taxes paid or payable as a result thereof or any transactions occurring or deemed to occur to
effectuate a payment under this Agreement, amounts required to be applied to the repayment of principal, premium, if any, and interest
on Indebtedness (other than the First Lien Obligations and Indebtedness secured by Liens that are expressly subordinated to the Liens
securing the Obligations) secured by a Lien on such assets and required to be paid as a result of such transaction and any deduction of
appropriate amounts to be provided by the Borrower or any Restricted Subsidiary as a reserve in accordance with GAAP against any liabilities
associated with the asset disposed of in such transaction and retained by the Borrower or any Restricted Subsidiary after such sale or
other disposition thereof, including pension and other post-employment benefit liabilities and liabilities related to environmental matters
or against any indemnification obligations associated with such transaction; provided that (a) no net cash proceeds calculated
in accordance with the foregoing realized in a single transaction or series of related transactions shall constitute Net Proceeds unless
such net cash proceeds shall exceed $10.0 million and (b) no such net cash proceeds shall constitute Net Proceeds under this clause (1) in
any fiscal year until the aggregate amount of all such net cash proceeds in such fiscal year shall exceed $20.0 million (and thereafter
only net cash proceeds in excess of such amount shall constitute Net Proceeds under this clause (1)); and

 

(2)           (a) with
respect to the incurrence or issuance of any Indebtedness by the Borrower or any Restricted Subsidiary, any Permitted Equity Issuance
by the Borrower or any Parent Company or any contribution to the common equity capital of the Borrower, the excess, if any, of (i) the
sum of the cash and Cash Equivalents received in connection with such incurrence or issuance over (ii) all taxes paid or reasonably
estimated to be payable, and all fees (including investment banking fees, attorneys’ fees, accountants’ fees, underwriting
fees and discounts), commissions, costs and other out-of-pocket expenses and other customary expenses incurred, in each case by the Borrower
or such Restricted Subsidiary in connection with such incurrence or issuance and (b) with respect to any Permitted Equity Issuance
by any Parent Company, the amount of cash from such Permitted Equity Issuance contributed to the capital of the Borrower.

 

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

 

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

 

    	 	52	 

     

    

 

“Non-Excluded Taxes” means all
Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Loan Party
under any Loan Document.

 

“Non-Extension Notice Date” has
the meaning specified in Section 2.03(2)(c).

 

“Non-Recourse Indebtedness” means
Indebtedness that is non-recourse to the Borrower and the Restricted Subsidiaries.

 

“Note” means a Term Note or Revolving
Note, as the context may require.

 

“Notice of Intent to Cure” has
the meaning specified in Section 8.04.

 

“Obligations” means all

 

(1)           advances
to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect
to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to
become due, now existing or hereafter arising and including interest, fees and other amounts that accrue after the commencement by or
against any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless
of whether such interest, fees and other amounts are allowed claims in such proceeding,

 

(2)           obligations
(other than Excluded Swap Obligations) of any Loan Party or Restricted Subsidiary arising under any Secured Hedge Agreement, and

 

(3)           Cash
Management Obligations under each Secured Cash Management Agreement.

 

Without limiting the generality of the
foregoing, the Obligations of the Loan Parties under the Loan Documents (and any of their Subsidiaries to the extent they have obligations
under the Loan Documents) include the obligation (including guarantee obligations) to pay principal, interest, reimbursement obligations,
charges, expenses, fees (including Letter of Credit fees), Attorney Costs, indemnities and other amounts payable by any Loan Party under
any Loan Document.

 

Notwithstanding the foregoing, (a) unless otherwise
agreed to by the Borrower and any applicable Hedge Bank or Cash Management Bank, the obligations of Holdings, the Borrower or any Subsidiary
under any Secured Hedge Agreement and under any Secured Cash Management Agreement shall be secured and guaranteed pursuant to the Collateral
Documents and the Guaranty only to the extent that, and for so long as, the other Obligations are so secured and guaranteed and (b) any
release of Collateral or Guarantors effected in the manner permitted by this Agreement and any other Loan Document shall not require the
consent of the holders of Hedging Obligations under Secured Hedge Agreements or of the holders of Cash Management Obligations under Secured
Cash Management Agreements.

 

“OFAC” has the meaning specified
in Section 5.17.

 

“Offered Amount” has the meaning
specified in Section 2.05(1)(e)(D)(1).

 

“Offered Discount” has the meaning
specified in Section 2.05(1)(e)(D)(1).

 

“Officer” means the Chairman of
the Board of Directors, the Chief Executive Officer, the Chief Financial Officer, the Chief Operating Officer, the President, any Executive
Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of the Borrower or any other Person, as the case
may be.

 

“Officer’s Certificate”
means a certificate signed on behalf of a Person by an Officer of such Person.

 

    	 	53	 

     

    

 

“OID” means original issue discount.

 

“Operating IRU” means an indefeasible
right of use of, or operating lease or payable for lit or unlit fiber optic cable or telecommunications conduit or the use of either.

 

“Opinion of Counsel” means a written
opinion from legal counsel who is reasonably acceptable to the Administrative Agent. Counsel may be an employee of or counsel to the Borrower
or the Administrative Agent.

 

“ordinary course of business”
means activity conducted in the ordinary course of business of the Borrower and any Restricted Subsidiary.

 

“Organizational Documents” means

 

(1)           with
respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents
with respect to any non-U.S. jurisdiction);

 

(2)           with
respect to any limited liability company, the certificate or articles of formation or organization and operating agreement; and

 

(3)           with
respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable
agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its
formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable,
any certificate or articles of formation or organization of such entity.

 

“Original Revolving Facility Maturity Date”
has the meaning specified in the definition of “Maturity Date.”

 

“Original Term Loan Maturity Date”
has the meaning specified in the definition of “Maturity Date.”

 

“Other Applicable ECF” means Excess
Cash Flow or a comparable measure as determined in accordance with the documentation governing Other Applicable Indebtedness.

 

“Other Applicable Indebtedness”
means Permitted Incremental Equivalent Debt, Credit Agreement Refinancing Indebtedness or any other Indebtedness secured on a pari
passu basis with the Obligations, together with Refinancing Indebtedness in respect of any of the foregoing that is secured on a pari
passu basis with the Obligations.

 

“Other Applicable Net Proceeds”
means Net Proceeds or a comparable measure as determined in accordance with the documentation governing Other Applicable Indebtedness.

 

“Other Commitments” means Other
Revolving Commitments and/or Other Term Loan Commitments.

 

“Other Loans” means one or more
Classes of Other Revolving Loans and/or Other Term Loans that result from a Refinancing Amendment.

 

“Other Revolving Commitments”
means one or more Classes of Revolving Commitments hereunder that result from a Refinancing Amendment.

 

“Other Revolving Loans” means
one or more Classes of Revolving Loans that result from a Refinancing Amendment.

 

    	 	54	 

     

    

 

“Other Taxes” means all present
or future stamp or documentary Taxes, intangible, recording, filing, excise (that is not based on net income), property or similar Taxes
arising from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection
of a security interest under, or otherwise with respect to, any Loan Document.

 

“Other Term Loan Commitments”
means one or more Classes of Term Loan commitments hereunder that result from a Refinancing Amendment.

 

“Other Term Loans” means one or
more Classes of Term Loans that result from a Refinancing Amendment.

 

“Outstanding Amount” means (a) with
respect to the Term Loans and Revolving Loans on any date, the outstanding principal amount thereof after giving effect to any borrowings
and prepayments or repayments of Term Loans and Revolving Loans (including any refinancing of outstanding Unreimbursed Amounts under Letters
of Credit or L/C Credit Extensions as a Revolving Borrowing), as the case may be, occurring on such date; and (b) with respect to
any L/C Obligations on any date, the outstanding principal amount thereof on such date after giving effect to any related L/C Credit Extension
occurring on such date and any other changes thereto as of such date, including as a result of any reimbursements of outstanding Unreimbursed
Amounts under related Letters of Credit (including any refinancing of outstanding Unreimbursed Amounts under related Letters of Credit
or related L/C Credit Extensions as a Revolving Borrowing) or any reductions in the maximum amount available for drawing under related
Letters of Credit taking effect on such date.

 

“Overnight Rate” means, for any
day, the greater of (a) the Federal Funds Rate and (b) an overnight rate determined by the Administrative Agent or an Issuing
Bank, as applicable, in accordance with banking industry rules on interbank compensation.

 

“Parent Company” means any Person
that is a direct or indirect parent (which may be organized as, among other things, a partnership) of Holdings and/or the Borrower (for
the avoidance of doubt, in the case of the Borrower, including Holdings), as applicable.

 

“Pari Passu Lien Debt” has the
meaning specified in clause (39) of the definition of “Permitted Liens.”

 

“Participant” has the meaning
specified in Section 10.07(d).

 

“Participant Register” has the
meaning specified in Section 10.07(e).

 

“Participating Lender” has the
meaning specified in Section 2.05(1)(e)(C)(2).

 

“Payment Recipient” has the meaning
specified in Section 9.10(a).

 

“PBGC” means the Pension Benefit
Guaranty Corporation.

 

“Pension Plan” means any “employee
pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject
to Title IV of ERISA and is sponsored or maintained by any Loan Party or any of their respective ERISA Affiliates or to which any Loan
Party or any of their respective ERISA Affiliates contributes or has an obligation to contribute, or in the case of a multiple employer
or other plan described in Section 4064(a) of ERISA, has made contributions at any time in the preceding five plan years.

 

“Perfection Certificate” has the
meaning specified in the Security Agreement.

 

“Periodic Term SOFR Determination Day”
has the meaning specified in the definition of “Term SOFR.”

 

    	 	55	 

     

    

 

“Permitted Acquisition” has the
meaning specified in clause (3) of the definition of “Permitted Investments.”

 

“Permitted Asset Swap” means the
substantially concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business Assets and cash
or Cash Equivalents between the Borrower or any Restricted Subsidiary and another Person; provided that any cash or Cash Equivalents
received in connection with a Permitted Asset Swap that constitutes an Asset Sale must be applied in accordance with Section 2.05(2)(b)(i).

 

“Permitted Bond Hedge Transaction”
means any call or capped call option (or substantively equivalent derivative transaction) on the Borrower’s common equity purchased
by the Borrower in connection with the issuance of any Convertible Indebtedness; provided that the purchase price for such Permitted
Bond Hedge Transaction, less the proceeds received by the Borrower from the sale of any related Permitted Warrant Transaction, does not
exceed the net proceeds received by the Borrower from the sale of such Convertible Indebtedness issued in connection with the Permitted
Bond Hedge Transaction.

 

“Permitted Buyer” means a Financial
Buyer or a Qualified Buyer, as applicable.

 

“Permitted Convertible Indebtedness Call
Transaction” means any Permitted Bond Hedge Transaction and any Permitted Warrant Transaction.

 

“Permitted Equal Priority Refinancing Debt”
means any secured Indebtedness incurred by the Borrower and/or any Guarantor in the form of one or more series of senior secured notes,
bonds or debentures or first lien secured loans (and, if applicable, any Registered Equivalent Notes issued in exchange therefor); provided
that (i) such Indebtedness is secured by Liens on all or a portion of the Collateral on a basis that is equal in priority to the
Liens on the Collateral securing the First Lien Obligations under this Agreement (but without regard to the control of remedies) and is
not secured by any property or assets of the Borrower or any Restricted Subsidiary other than the Collateral, (ii) such Indebtedness
satisfies the applicable requirements set forth in the provisos to the definition of “Credit Agreement Refinancing Indebtedness,”
(iii) such Indebtedness is not at any time guaranteed by any Subsidiary of the Borrower other than Subsidiaries that are Guarantors
and (iv) the applicable Loan Parties, the holders of such Indebtedness (or their Debt Representative) and the Administrative Agent
and/or Collateral Agent shall be party to an Intercreditor Agreement providing that the Liens on the Collateral securing such obligations
shall rank equal in priority to the Liens on the Collateral securing the First Lien Obligations under this Agreement (but without regard
to the control of remedies).

 

“Permitted Equity Issuance” means
any sale or issuance of any Qualified Equity Interests of the Borrower or any Parent Company.

 

“Permitted
Holder” means (1) any of Crestview W1 Co-Investors, LLC, Crestview W1 TE Holdings, LLC, Crestview W1 Holdings, L.P.,
Crestview Advisors, L.L.C. Crestview Partners III GP, L.P. or their respective Controlled Investment Affiliates, (2) any
of the Management Stockholders and (3) any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of
the Exchange Act) of which any of the foregoing Persons in clauses (1) or (2) are members; provided that in the case
of such group and without giving effect to the existence of such group or any other group, such Persons in clauses (1) and (2),
collectively, have, directly or indirectly, beneficial ownership of more than 50.0% of the total voting power of the Voting Stock of the
Borrower or any Permitted Parent and (4) any Person acting in the capacity of an underwriter (solely to the extent that and for so
long as such Person is acting in such capacity) in connection with a public or private offering of Capital Stock of the Borrower or any
Parent Company. Any Person or group whose acquisition of beneficial ownership constitutes a Permitted Revolver Change of Control or Permitted
Term Loan Change of Control will thereafter, together with its Affiliates, constitute an additional Permitted Holder.

 

“Permitted Incremental Equivalent Debt”
means Indebtedness issued, incurred or otherwise obtained by the Borrower and/or any Guarantor in respect of one or more series of senior
unsecured notes, senior secured first lien or junior lien notes or subordinated notes (in each case issued in a public offering, Rule 144A
or other private placement or bridge financing in lieu of the foregoing (and any Registered Equivalent Notes issued in exchange therefor)),
first lien or junior lien loans, unsecured or subordinated loans or secured or unsecured mezzanine Indebtedness that, in each case, if
secured, will be secured by Liens on the Collateral on an equal priority (but without regard to the control of remedies) or junior priority
basis with the Liens on Collateral securing the First Lien Obligations under this Agreement, and that are issued or made in lieu of Incremental
Commitments; provided that:

 

    	 	56	 

     

    

 

(i)           the
terms of any such Indebtedness (excluding, for the avoidance of doubt, interest rates (including through fixed interest rates), interest
margins, rate floors, fees, funding discounts, original issue discounts and prepayment or redemption premiums and terms) shall either,
at the option of the Borrower, (A) reflect market terms and conditions (taken as a whole) at the time of incurrence of such Indebtedness
(as determined by the Borrower in good faith), (B) if otherwise not consistent with the terms of the Term B Loans, not be materially
more restrictive to the Borrower (as determined by the Borrower in good faith), when taken as a whole, than the terms of the Term B Loans,
except to the extent necessary to provide for (1) covenants and other terms applicable to any period after the Latest Maturity Date
of the Term B Loans or (2) subject to the immediately succeeding proviso, a Previously Absent Financial Maintenance Covenant; provided
that, notwithstanding anything to the contrary contained herein, if any such terms of such Indebtedness contain a Previously Absent Financial
Maintenance Covenant that is in effect prior to the applicable Latest Maturity Date, such Previously Absent Financial Maintenance Covenant
shall be included for the benefit of each Facility; provided further, that if (x) such Indebtedness that includes a Previously
Absent Financial Maintenance Covenant consists of a revolving credit facility (whether or not the documentation therefor includes any
other facilities) and (y) the applicable Previously Absent Financial Maintenance Covenant is included only for the benefit of such
revolving credit facility, the Previously Absent Financial Maintenance Covenant shall not be required to be included in this Agreement
for the benefit of any Term Facility hereunder, or (C) if neither clause (A) or (B) are satisfied, such terms, provisions
and documentation shall be otherwise reasonably satisfactory to the Administrative Agent;

 

(ii)           the
aggregate principal amount of all Permitted Incremental Equivalent Debt shall not exceed the Available Incremental Amount at the time
of incurrence (it being understood that for purposes of this clause (ii), references in Section 2.14(4)(c)(B) (other than the
first proviso thereto) to Incremental Loans or Incremental Revolving Commitments shall be deemed to be references to Permitted Incremental
Equivalent Debt);

 

(iii)           such
Permitted Incremental Equivalent Debt shall not be subject to any Guarantee by any Person other than a Loan Party;

 

(iv)           in
the case of Permitted Incremental Equivalent Debt that is secured, the obligations in respect thereof shall not be secured by any Lien
on any asset of the Borrower or any Restricted Subsidiary other than any asset constituting Collateral;

 

(v)           if
such Permitted Incremental Equivalent Debt is secured, such Permitted Incremental Equivalent Debt shall be subject to the applicable Intercreditor
Agreement(s);

 

(vi)           such
Permitted Incremental Equivalent Debt (a) shall not mature earlier than the Original Term Loan Maturity Date and (b) shall have
a Weighted Average Life to Maturity not shorter than the remaining Weighted Average Life to Maturity of the Term B Loans on the date of
incurrence of such Permitted Incremental Equivalent Debt; provided that the effects of any amortization or prepayments made on
the Term B Loans prior to the date of such incurrence will be disregarded; and

 

(vii)           any
mandatory prepayments of (I) any Permitted Incremental Equivalent Debt that comprises junior lien or unsecured notes or loans may
not be made except to the extent that prepayments of such debt are not prohibited hereunder and to the extent required hereunder or pursuant
to the terms of any Permitted Incremental Equivalent Debt that is secured on a pari passu basis with the First Lien Obligations under
this Agreement, first made or offered to the holders of the Term Loans constituting First Lien Obligations and any such Permitted Incremental
Equivalent Debt that is secured on a pari passu basis with the First Lien Obligations under this Agreement, and (II) any Permitted
Incremental Equivalent Debt that is secured on a pari passu basis with the First Lien Obligations under this Agreement in respect of events
described in Section 2.05(2)(a), (b) and (d)(i) shall be made on a pro rata basis, less than a pro rata basis or greater
than a pro rata basis (but not greater than a pro rata basis as compared to any Class of Term Loans constituting First Lien Obligations
with an earlier maturity date) with the Term Loans constituting First Lien Obligations.

 

    	 	57	 

     

    

 

provided,
further, that “Permitted Incremental Equivalent Debt” may be incurred in the form of a bridge or other interim credit
facility intended to be refinanced or replaced with long term indebtedness (so long as such credit facility includes customary “rollover
provisions” that satisfy the requirements of clause (vi) above following such rollover), in which case, on or prior to the
first anniversary of the incurrence of such “bridge” or other credit facility, clause (vi) of the first proviso in this
definition shall not prohibit the inclusion of customary terms for “bridge” facilities, including customary mandatory prepayment,
repurchase or redemption provisions.

 

“Permitted Indebtedness” means
Indebtedness permitted to be incurred in accordance with Section 7.02.

 

“Permitted Investments” means:

 

(1)           any
Investment in the Borrower or any Subsidiary Guarantor;

 

(2)           any
Investment(s) in Cash Equivalents or Investment Grade Securities and Investments that were Cash Equivalents or Investment Grade Securities
when made;

 

(3)           (a) 
any Investment by the Borrower or any Restricted Subsidiary in any Person that is engaged (directly or through entities that will be Restricted
Subsidiaries) in a Similar Business if as a result of such Investment (i) such Person becomes a Restricted Subsidiary or (ii) such
Person, in one transaction or a series of related transactions, is amalgamated, merged or consolidated with or into, or transfers or conveys
substantially all of its assets or assets constituting a business unit, a line of business or a division of such Person, to, or is liquidated
into, the Borrower or a Restricted Subsidiary (a “Permitted Acquisition”); provided that (A) immediately
after giving pro forma effect to any such Investment, no Event of Default will have occurred and be continuing and (B) such
Person shall become a Guarantor or such assets shall become Collateral, as applicable, to the extent required by, and subject to the limitations
in, the Collateral and Guarantee Requirement; and

 

(b)           any
Investment held by such Person described in the preceding clause (a); provided that such Investment was not acquired by such Person
in contemplation of such acquisition, merger, amalgamation, consolidation, transfer or conveyance;

 

(4)           any
Investment in securities or other assets not constituting Cash Equivalents or Investment Grade Securities and received in connection with
an Asset Sale made in accordance with Section 7.04 or any other disposition of assets not constituting an Asset Sale;

 

(5)           any
Investment existing on the Closing Date or made pursuant to binding commitments in effect on the Closing Date, in each of the foregoing
cases with respect to any such Investment or binding commitment in effect on the Closing Date in excess of $5.0 million, as set forth
on Schedule 7.05, or an Investment consisting of any extension, modification, replacement, renewal or reinvestment of any Investment
or binding commitment existing on the Closing Date; provided that the amount of any such Investment or binding commitment may be
increased only (a) as required by the terms of such Investment or binding commitment as in existence on the Closing Date (including
as a result of the accrual or accretion of interest or original issue discount or the issuance of pay-in-kind securities) or (b) as
otherwise permitted hereunder;

 

(6)           any
Investment acquired by the Borrower or any Restricted Subsidiary:

 

(a)           in
exchange for any other Investment, accounts receivable or indorsements for collection or deposit held by the Borrower or any Restricted
Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of, or settlement of delinquent
accounts and disputes with or judgments against, the issuer of such other Investment or accounts receivable (including any trade creditor
or customer);

 

    	 	58	 

     

    

 

(b)           in
satisfaction of judgments against other Persons;

 

(c)           as
a result of a foreclosure by the Borrower or any Restricted Subsidiary with respect to any secured Investment or other transfer of title
with respect to any secured Investment in default; or

 

(d)           as
a result of the settlement, compromise or resolution of (i) litigation, arbitration or other disputes or (ii) obligations of
trade creditors or customers that were incurred in the ordinary course of business or consistent with industry practice of the Borrower
or any Restricted Subsidiary, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency
of any trade creditor or customer;

 

(7)           Hedging
Obligations permitted under Section 7.02(b)(10);

 

(8)           any
Investment in a Similar Business taken together with all other Investments made pursuant to this clause (8) that are at that time
outstanding not to exceed (as of the date such Investment is made) the greater of (a) $74.0 million and (b) 25.0% of Consolidated
EBITDA of the Borrower and the Restricted Subsidiaries determined at the time of making of such Investment for the most recently ended
Test Period (calculated on a pro forma basis);

 

(9)           Investments
the payment for which consists of Equity Interests (other than Disqualified Stock) of the Borrower or any Parent Company; provided
that such Equity Interests will not increase the amount available for Restricted Payments under clause (3) of Section 7.05(a);

 

(10)         (a) guarantees
of Indebtedness permitted under Section 7.02, performance guarantees and Contingent Obligations incurred in the ordinary course of
business or consistent with past practice or industry practice, and (b) the creation of Liens on the assets of the Borrower or any
Restricted Subsidiary in compliance with Section 7.01;

 

(11)         any
transaction to the extent it constitutes an Investment that is permitted by and made in accordance with the provisions of Section 6.16(b) (except
transactions described in clauses (2), (5), (9), (15) or (22) of such Section);

 

(12)         Investments
consisting of purchases and acquisitions of inventory, supplies, material, services, equipment or similar assets or the licensing or contribution
of intellectual property pursuant to joint marketing arrangements with other Persons;

 

(13)         Investments,
taken together with all other Investments made pursuant to this clause (13) that are at that time outstanding, not to exceed (as
of the date such Investment is made) the greater of (i) $150.0 million and (ii) 50.0% of Consolidated EBITDA of the Borrower
and the Restricted Subsidiaries determined at the time of making of such Investment for the most recently ended Test Period (calculated
on a pro forma basis);

 

(14)         Investments
in or relating to a Securitization Subsidiary that, in the good faith determination of the Borrower, are necessary or advisable to effect
any Qualified Securitization Facility (including distributions or payments of Securitization Fees) or any repurchase obligation in connection
therewith (including the contribution or lending of Cash Equivalents to Subsidiaries to finance the purchase of such assets from the Borrower
or any Restricted Subsidiary or to otherwise fund required reserves);

 

(15)         loans
and advances to, or guarantees of Indebtedness of, officers, directors, employees, consultants, independent contractors and members of
management not in excess of $10.0 million outstanding at any one time, in the aggregate;

 

    	 	59	 

     

    

 

(16)         loans
and advances to employees, directors, officers, members of management, independent contractors and consultants for business-related travel
expenses, moving expenses, payroll advances and other similar expenses or payroll expenses, in each case incurred in the ordinary course
of business or consistent with past practice or consistent with industry practice or to future, present and former employees, directors,
officers, members of management, independent contractors and consultants (and their Controlled Investment Affiliates and Immediate Family
Members) to fund such Person’s purchase of Equity Interests of the Borrower or any Parent Company;

 

(17)         advances,
loans or extensions of trade credit or prepayments to suppliers or loans or advances made to distributors, in each case, in the ordinary
course of business or consistent with past practice or consistent with industry practice by the Borrower or any Restricted Subsidiary;

 

(18)         any
Investment in any Subsidiary or any joint venture in connection with intercompany cash management arrangements or related activities arising
in the ordinary course of business or consistent with industry practice;

 

(19)         Investments
consisting of purchases and acquisitions of assets or services in the ordinary course of business or consistent with industry practice;

 

(20)         Investments
made in the ordinary course of business or consistent with industry practice in connection with obtaining, maintaining or renewing client
contracts and loans or advances made to distributors;

 

(21)         Investments
in prepaid expenses, negotiable instruments held for collection and lease, utility and workers compensation, performance and similar deposits
entered into as a result of the operations of the business in the ordinary course of business or consistent with industry practice;

 

(22)         the
purchase or other acquisition of any Indebtedness of the Borrower or any Restricted Subsidiary to the extent not otherwise prohibited
hereunder;

 

(23)         Investments
in Unrestricted Subsidiaries or joint ventures, taken together with all other Investments made pursuant to this clause (23) that
are at that time outstanding, without giving effect to the sale of an Unrestricted Subsidiary or joint venture to the extent the proceeds
of such sale do not consist of, or have not been subsequently sold or transferred for, Cash Equivalents or marketable securities, not
to exceed (as of the date such Investment is made) the greater of (i) $59.0 million and (ii) 20.0% of Consolidated EBITDA of
the Borrower and the Restricted Subsidiaries determined at the time of making of such Investment for the most recently ended Test Period
(calculated on a pro forma basis);

 

(24)         Investments
in the ordinary course of business or consistent with industry practice consisting of Uniform Commercial Code Article 3 endorsements
for collection or deposit and Article 4 customary trade arrangements with customers;

 

(25)         any
Investment by any Captive Insurance Subsidiary in connection with its provision of insurance to the Borrower or any of its Subsidiaries,
which Investment is made in the ordinary course of business or consistent with industry practice of such Captive Insurance Subsidiary,
or by reason of applicable Law, rule, regulation or order, or that is required or approved by any regulatory authority having jurisdiction
over such Captive Insurance Subsidiary or its business, as applicable;

 

(26)         Investments
made as part of, to effect or resulting from the Transactions;

 

(27)         Investments
of assets relating to non-qualified deferred payment plans in the ordinary course of business or consistent with industry practice;

 

    	 	60	 

     

    

 

(28)         intercompany
current liabilities owed to Restricted Subsidiaries, Unrestricted Subsidiaries or joint ventures incurred in the ordinary course of business
or consistent with industry practice in connection with the cash management operations of the Borrower and its Subsidiaries;

 

(29)         acquisitions
of obligations of one or more directors, officers or other employees or consultants or independent contractors of any Parent Company,
the Borrower, or any Subsidiary of the Borrower in connection with such director’s, officer’s, employee’s consultant’s
or independent contractor’s acquisition of Equity Interests of the Borrower or any direct or indirect parent of the Borrower, to
the extent no cash is actually advanced by the Borrower or any Restricted Subsidiary to such directors, officers, employees, consultants
or independent contractors in connection with the acquisition of any such obligations;

 

(30)         Investments
constituting promissory notes or other non-cash proceeds of dispositions of assets to the extent permitted under Section 7.04;

 

(31)         Investments
resulting from pledges and deposits permitted pursuant to the definition of “Permitted Liens”;

 

(32)         loans
and advances to any direct or indirect parent of the Borrower in lieu of and not in excess of the amount of (after giving effect to any
other loans, advances or Restricted Payments in respect thereof) Restricted Payments to the extent permitted to be made in cash to such
parent in accordance with Section 7.05 at such time, such Investment being treated for purposes of the applicable clause of Section 7.05,
including any limitations, as if a Restricted Payment were made pursuant to such applicable clause;

 

(33)         any
other Investments if on a pro forma basis after giving effect to such Investment, the Total Net Leverage Ratio would be equal to
or less than 4.75 to 1.00 as of the last day of the Test Period most recently ended; and

 

(34)         Permitted
Bond Hedge Transactions.

 

“Permitted Junior Priority Refinancing Debt”
means secured Indebtedness incurred by the Borrower and/or any Guarantor in the form of one or more series of junior lien secured notes,
bonds or debentures or junior lien secured loans (and, if applicable, any Registered Equivalent Notes issued in exchange therefor); provided
that (i) such Indebtedness is secured by a Lien on all or a portion of the Collateral on a junior priority basis to the Liens on
Collateral securing the First Lien Obligations under this Agreement and is not secured by any property or assets of the Borrower or any
Restricted Subsidiary other than the Collateral, (ii) such Indebtedness satisfies the applicable requirements set forth in the provisos
in the definition of “Credit Agreement Refinancing Indebtedness,” (iii) the holders of such Indebtedness (or their Debt
Representative) and the Administrative Agent and/or the Collateral Agent shall be party to an Intercreditor Agreement providing that the
Liens on Collateral securing such obligations shall rank junior to the Liens on Collateral securing the First Lien Obligations under this
Agreement, and (iv) such Indebtedness is not at any time guaranteed by any Subsidiary of the Borrower other than Subsidiaries that
are Guarantors.

 

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

 

(1)           Liens
created pursuant to any Loan Document;

 

(2)           Liens,
pledges or deposits made in connection with:

 

(a)           workers’
compensation laws, unemployment insurance, health, disability or employee benefits or other social security laws or similar legislation
or regulations,

 

(b)           insurance-related
obligations (including in respect of deductibles, self-insured retention amounts and premiums and adjustments thereto) or indemnification
obligations of (including obligations in respect of letters of credit, bank guarantees or similar documents or instruments for the benefit
of) insurance carriers providing property, casualty or liability insurance or otherwise supporting the payment of items set forth in the
foregoing clause (a) or

 

    	 	61	 

     

    

 

(c)           bids,
tenders, contracts, statutory obligations, surety, indemnity, warranty, release, appeal or similar bonds, or with regard to other regulatory
requirements, completion guarantees, stay, customs and appeal bonds, performance bonds, bankers’ acceptance facilities, and other
obligations of like nature (including those to secure health, safety and environmental obligations) (other than for the payment of Indebtedness)
or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash, Cash
Equivalents or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for the
payment of rent, contested taxes or import duties and obligations in respect of letters of credit, bank guarantees or similar instruments
that have been posted to support the same, in each case incurred in the ordinary course of business or consistent with industry practice;

 

(3)           Liens
imposed by law, such as landlords’, carriers’, warehousemen’s, materialmen’s, repairmen’s, construction,
mechanics’ or other similar Liens, or landlord Liens specifically created by contract (a) for sums not yet overdue in each
case so long as such Liens arise in the ordinary course of business and do not individually or in the aggregate have a Material Adverse
Effect;

 

(4)           Liens
for taxes, assessments or other governmental charges (a) not yet overdue for a period of more than sixty (60) days or (b) not
yet payable or (c) not subject to penalties for nonpayment or which are being contested in good faith by appropriate actions if adequate
reserves with respect thereto are maintained on the books of such Person in accordance with GAAP or (d) not required to be paid under
Section 6.04;

 

(5)           Liens
in favor of issuers of performance, surety, bid, indemnity, warranty, release, appeal or similar bonds, instruments or obligations or
with respect to regulatory requirements or letters of credit or bankers acceptance issued, and completion guarantees provided, in each
case, pursuant to the request of and for the account of such Person in the ordinary course of its business or consistent with past practice
or industry practice;

 

(6)           survey
exceptions, encumbrances, ground leases, easements, restrictions, protrusions, encroachments or reservations of, or rights of others for,
licenses, rights-of-way, servitudes, sewers, electric lines, drains, telegraph, telephone and cable television lines and other similar
purposes, or zoning, building codes or other restrictions (including minor defects or irregularities in title and similar encumbrances)
as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties
that were not incurred in connection with Indebtedness and that do not in the aggregate materially impair their use in the operation of
the business of such Person and exceptions on Mortgage Policies insuring Liens granted on Mortgaged Properties;

 

(7)           Liens
securing obligations in respect of Indebtedness, Disqualified Stock or Preferred Stock permitted to be incurred pursuant to clause (4),
(6), (12), (13), (15), (23) or (31) of Section 7.02(b) or, with respect to assumed Indebtedness not incurred in contemplation
of the relevant acquisition, Disqualified Stock or Preferred Stock only, clause (14) of Section 7.02(b); provided that:

 

(a)           Liens
securing obligations relating to any Indebtedness, Disqualified Stock or Preferred Stock permitted to be incurred pursuant to such clause
(13) relate only to obligations relating to Refinancing Indebtedness that is secured by Liens on the same assets as the assets securing
the Refinanced Debt (as defined in the definition of Refinancing Indebtedness), plus improvements, accessions, proceeds or dividends
or distributions in respect thereof and after-acquired property, or serves to refund, refinance, extend, replace, renew or defease Indebtedness,
Disqualified Stock or Preferred Stock incurred under clause (4), (12) or (13) of Section 7.02(b);

 

    	 	62	 

     

    

 

(b)           Liens
securing obligations relating to Indebtedness or Disqualified Stock permitted to be incurred pursuant to such clause (23) or (31) extend
only to the assets of Subsidiaries that are not Guarantors;

 

(c)           Liens
securing obligations in respect of Indebtedness, Disqualified Stock or Preferred Stock permitted to be incurred pursuant to such clause
(4) extend only to the assets so purchased, replaced, leased or improved and proceeds and products thereof; provided further that
individual financings of assets provided by a counterparty may be cross-collateralized to other financings of assets provided by such
counterparty;

 

(d)           If
any such Liens secure Indebtedness for borrowed money incurred pursuant to such clause (12), at the election of the Borrower, such Liens
shall be subject to the applicable Intercreditor Agreement(s); and

 

(e)           Liens
securing obligations in respect of Indebtedness, Disqualified Stock or Preferred Stock permitted to be assumed pursuant to such clause
(14) are solely on acquired property or the assets of the acquired entity (other than after acquired property that is (A) affixed
or incorporated into the property covered by such Lien, (B) after acquired property subject to a Lien securing such Indebtedness,
the terms of which Indebtedness require or include a pledge of after acquired property (it being understood that such requirement shall
not be permitted to apply to any property to which such requirement would not have applied but for such acquisition) and (C) the
proceeds and products thereof).

 

(8)           Liens
existing, or provided for under binding contracts existing, on the Closing Date (provided that any such Lien securing obligations
in an aggregate amount on the Closing Date in excess of $5.0 million shall be set forth on Schedule 7.01);

 

(9)           Liens
on property or shares of stock or other assets of a Person at the time such Person becomes a Subsidiary; provided that such Liens
are not created or incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary;

 

(10)         Liens
on property or other assets at the time the Borrower or a Restricted Subsidiary acquired the property or such other assets, including
any acquisition by means of a merger, amalgamation or consolidation with or into the Borrower or any Restricted Subsidiary (provided
that such Liens are not created or incurred in connection with, or in contemplation of, such acquisition, amalgamation, merger or
consolidation) and any replacement, extension or renewal of any such Lien (to the extent the Indebtedness and other obligations secured
by such replacement, extension or renewal Liens are permitted by this Agreement); provided that such replacement, extension or
renewal Liens do not cover any property other than the property that was subject to such Liens prior to such replacement, extension or
renewal;

 

(11)         Liens
securing obligations in respect of Indebtedness or other obligations of a Restricted Subsidiary owing to the Borrower or another Restricted
Subsidiary permitted to be incurred in accordance with Section 7.02;

 

(12)         Liens
securing (x) Hedging Obligations and (y) obligations in respect of Cash Management Services;

 

(13)         Liens
on specific items of inventory or other goods and proceeds of any Person securing such Person’s accounts payable or similar obligations
in respect of bankers’ acceptances or letters of credit issued or created for the account of such Person to facilitate the purchase,
shipment or storage of such inventory or other goods;

 

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(14)         leases,
subleases, licenses or sublicenses (or other agreement under which the Borrower or any Restricted Subsidiary has granted rights to end
users to access and use the Borrower’s or any Restricted Subsidiary’s products, technologies or services) that do not either
(a) materially interfere with the business of the Borrower and its Restricted Subsidiaries, taken as a whole, or (b) secure
any Indebtedness;

 

(15)         Liens
arising from Uniform Commercial Code (or equivalent statutes) financing statement filings regarding operating leases, consignments or
accounts entered into by the Borrower and its Restricted Subsidiaries in the ordinary course of business or consistent with past practice
or industry practice or purported Liens evidenced by the filing of precautionary Uniform Commercial Code (or equivalent statutes) financing
statements or similar public filings;

 

(16)         Liens
in favor of the Borrower or any Guarantor;

 

(17)         Liens
on equipment or vehicles of the Borrower or any Restricted Subsidiary granted in the ordinary course of business or consistent with industry
practice;

 

(18)         Liens
on accounts receivable, Securitization Assets and related assets incurred in connection with a Qualified Securitization Facility and Liens
on any receivables transferred in connection with a Receivables Financing Transaction, including Liens on such receivables resulting from
precautionary UCC filings or from recharacterization or any such sale as a financing or a loan;

 

(19)           Liens
to secure any modification, refinancing, refunding, extension, renewal or replacement (or successive modification, refinancing, refunding,
extensions, renewals or replacements) as a whole, or in part, of any Indebtedness, Disqualified Stock or Preferred Stock secured by any
Lien referred to in clauses (6), (7), (8), (9), (10) or this clause (19) of this definition; provided that: (a) such
new Lien will be limited to all or part of the same property that was subject to the original Lien (plus improvements, accessions, proceeds
or dividends or distributions in respect thereof and after-acquired property) and (b) the Indebtedness, Disqualified Stock or Preferred
Stock secured by such Lien at such time is not increased to any amount greater than the sum of (i) the outstanding principal amount
or, if greater, committed amount of the Indebtedness, Disqualified Stock or Preferred Stock described under such clauses (6), (7), (8),
(9), (10) or this clause (19) at the time the original Lien became a Permitted Lien hereunder, plus (ii) any accrued
and unpaid interest on the Indebtedness, any accrued and unpaid dividends on the Preferred Stock, and any accrued and unpaid dividends
on the Disqualified Stock being so refinanced, extended, replaced, refunded, renewed or defeased, plus (iii) the amount of
any tender premium or penalty or premium required to be paid under the terms of the instrument or documents governing such refinanced
Indebtedness, Preferred Stock or Disqualified Stock and any defeasance costs and any fees and expenses (including original issue discount,
upfront fees or similar fees) incurred in connection with the issuance of such new Indebtedness, Preferred Stock or Disqualified Stock
or the extension, replacement, refunding, refinancing, renewal or defeasance of such refinanced Indebtedness, Preferred Stock or Disqualified
Stock;

 

(20)         deposits
made or other security provided to secure liability to insurance brokers, carriers, underwriters or self-insurance arrangements, including
Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;

 

(21)         [reserved];

 

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

 

(23)         (a) the
prior rights of consignees and their lenders under consignment arrangements entered into in the ordinary course of business or consistent
with industry practice, (b) Liens arising out of conditional sale, title retention or similar arrangements for the sale of goods
in the ordinary course of business or consistent with past practice or industry practice and (c) Liens arising by operation of law
under Article 2 of the Uniform Commercial Code;

 

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(24)         Liens
securing judgments for the payment of money not constituting an Event of Default under Section 8.01(7);

 

(25)         Liens
(a) of a collection bank arising under Section 4-208 or 4-210 of the Uniform Commercial Code on items in the course of collection,
(b) attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of business or consistent
with industry practice and (c) in favor of banking or other institutions or other electronic payment service providers arising as
a matter of law or under general terms and conditions encumbering deposits or margin deposits or other funds maintained with such institution
(including the right of setoff) and that are within the general parameters customary in the banking industry;

 

(26)         Liens
deemed to exist in connection with Investments in repurchase agreements permitted under this Agreement; provided that such Liens
do not extend to assets other than those that are subject to such repurchase agreements;

 

(27)         Liens
that are contractual rights of setoff (a) relating to the establishment of depository relations with banks or other deposit-taking
financial institutions or other electronic payment service providers and not given in connection with the issuance of Indebtedness, (b) relating
to pooled deposit or sweep accounts to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business
or consistent with industry practice of the Borrower or any Restricted Subsidiary or (c) relating to purchase orders and other agreements
entered into with customers of the Borrower or any Restricted Subsidiary in the ordinary course of business or consistent with industry
practice;

 

(28)         Liens
on cash proceeds (as defined in Article 9 of the Uniform Commercial Code) of assets sold that were subject to a Lien permitted hereunder;

 

(29)         any
encumbrance or restriction (including put, call arrangements, tag, drag, right of first refusal and similar rights) with respect to Capital
Stock of any joint venture or similar arrangement pursuant to any joint venture or similar agreement;

 

(30)         Liens
(a) on cash advances or cash earnest money deposits in favor of the seller of any property to be acquired in an Investment permitted
under this Agreement to be applied against the purchase price for such Investment and (b) consisting of a letter of intent or an
agreement to sell, transfer, lease or otherwise dispose of any property in a transaction permitted under Section 7.04;

 

(31)         ground
leases, subleases, licenses or sublicenses in respect of real property on which facilities owned or leased by the Borrower or any of its
Subsidiaries are located;

 

(32)         Liens
in connection with any Sale-Leaseback Transaction(s);

 

(33)         Liens
on Capital Stock or other securities of an Unrestricted Subsidiary;

 

(34)         any
interest or title of a lessor, sublessor, licensor or sublicensor or secured by a lessor’s, sublessor’s, licensor’s
or sublicensor’s interest under leases or licenses entered into by the Borrower or any of the Restricted Subsidiaries in the ordinary
course of business or consistent with industry practice;

 

(35)         deposits
of cash with the owner or lessor of premises leased and operated by the Borrower or any of its Subsidiaries in the ordinary course of
business or consistent with past practice or industry practice of the Borrower and such Subsidiary to secure the performance of the Borrower’s
or such Subsidiary’s obligations under the terms of the lease for such premises;

 

(36)         rights
of set-off, banker’s liens, netting arrangements and other Liens arising by operation of law or by the terms of documents of banks
or other financial institutions in relation to the maintenance or administration of deposit accounts, securities accounts, cash management
arrangements or in connection with the issuance of letters of credit, bank guarantees or other similar instruments;

 

    	 	65	 

     

    

 

(37)         Liens
on cash and Cash Equivalents used to satisfy or discharge Indebtedness; provided that such satisfaction or discharge is permitted
under this Agreement;

 

(38)         receipt
of progress payments and advances from customers in the ordinary course of business or consistent with industry practice to the extent
the same creates a Lien on the related inventory and proceeds thereof and Liens on property or assets under construction arising from
progress or partial payments by a third party relating to such property or assets;

 

(39)         Liens
on all or any portion of the Collateral (but no other assets) to secure obligations in respect of (a) Indebtedness permitted to be
incurred pursuant to Section 7.02; provided that after giving pro forma effect to the incurrence of the then proposed
Indebtedness (and without netting any cash received from the incurrence of such proposed Indebtedness) (or, in the case of Indebtedness
under Designated Revolving Commitments, on the date such Designated Revolving Commitments are established after giving pro forma
effect to the incurrence of the entire committed amount of the Indebtedness thereunder (but without netting any cash proceeds thereof),
in which case such committed amount under such Designated Revolving Commitments may thereafter be borrowed and reborrowed, in whole or
in part, from time to time, without further compliance with this proviso), (i) if such Indebtedness is secured on a (x) pari
passu basis with the Liens that secure the First Lien Obligations under this Agreement (“Pari Passu Lien Debt”),
the Secured Net Leverage Ratio would be no greater than either (A) 5.00 to 1.00 or (B) if such Indebtedness is incurred in connection
with a Permitted Acquisition or other similar Investment permitted hereunder, the greater of (I) 5.50 to 1.00 and (II) the Secured
Net Leverage Ratio for the Test Period most recently ended calculated on a pro forma basis after giving effect to any such incurrence
would be no greater than the Secured Net Leverage Ratio immediately prior to giving effect to such incurrence, or (y) junior basis
to the Liens that secure the First Lien Obligations (“Junior Lien Debt”), the Secured Net Leverage Ratio would be no
greater than either (A) 5.00 to 1.00 or (B) if such Indebtedness is incurred in connection with a Permitted Acquisition or other
similar Investment permitted hereunder, the greater of (I) 5.50 to 1.00 and (II) the Secured Net Leverage Ratio for the Test
Period most recently ended calculated on a pro forma basis after giving effect to any such incurrence would be no greater than
the Secured Net Leverage Ratio immediately prior to giving effect to such incurrence, (ii) such Liens are in each case subject the
applicable Intercreditor Agreement(s), and (b) any Refinancing Indebtedness in respect of Pari Passu Lien Debt or Junior Lien Debt
(but subject to the foregoing clause (iii));

 

(40)         agreements
to subordinate any interest of the Borrower or any Restricted Subsidiary in any accounts receivable or other proceeds arising from inventory
consigned by the Borrower or any Restricted Subsidiary pursuant to an agreement entered into in the ordinary course of business or consistent
with past practice or industry practice;

 

(41)         Liens
arising pursuant to Section 107(l) of the Comprehensive Environmental Response, Compensation and Liability Act or similar provision
of any Environmental Law;

 

(42)         Liens
disclosed by the title insurance reports or policies delivered on or prior to the Closing Date and any replacement, extension or renewal
of any such Lien (to the extent the Indebtedness and other obligations secured by such replacement, extension or renewal Liens are permitted
by this Agreement); provided that such replacement, extension or renewal Liens do not cover any property other than the property
that was subject to such Liens prior to such replacement, extension or renewal;

 

(43)         rights
reserved or vested in any Person by the terms of any lease, license, franchise, grant or permit held by the Borrower or any of its Restricted
Subsidiaries or by a statutory provision, to terminate any such lease, license, franchise, grant or permit, or to require annual or periodic
payments as a condition to the continuance thereof;

 

(44)         restrictive
covenants affecting the use to which real property may be put; provided that such covenants are complied with;

 

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(45)         security
given to a public utility or any municipality or governmental authority when required by such utility or authority in connection with
the operations of that Person in the ordinary course of business or consistent with industry practice;

 

(46)         zoning,
building and other similar land use restrictions, including site plan agreements, development agreements and contract zoning agreements;

 

(47)         [reserved];

 

(48)         Liens
on all or any portion of the Collateral (but no other assets) securing (i) Permitted Incremental Equivalent Debt, (ii) Permitted
Equal Priority Refinancing Debt or (iii) Permitted Junior Priority Refinancing Debt, and, in each case, Liens securing any Refinancing
Indebtedness in respect thereof;

 

(49)         Liens
on the assets of Restricted Subsidiaries that are not Loan Parties securing Indebtedness or other obligations of such Restricted Subsidiaries
or any other Restricted Subsidiaries that are not Loan Parties that is permitted by Section 7.02 or otherwise not prohibited by this
Agreement;

 

(50)         Liens
on assets of Restricted Subsidiaries that are Foreign Subsidiaries (i) securing Indebtedness and other obligations of such Foreign
Subsidiaries or (ii) to the extent arising mandatorily under applicable Law; and

 

(51)         Liens
on Escrowed Proceeds for the benefit of the related holders of debt securities or other Indebtedness (or the underwriters, trustee, escrow
agent or arrangers thereof) or on cash set aside at the time of the incurrence of any Indebtedness or government securities purchased
with such cash, in either case to the extent such cash or government securities prefund the payment of interest on such Indebtedness and
are held in an escrow account or similar arrangement to be applied for such purpose.

 

If any Liens securing obligations are incurred to
refinance liens securing obligations initially incurred in reliance on a Basket measured by reference to a percentage of Consolidated
EBITDA, and such refinancing would cause the percentage of Consolidated EBITDA to be exceeded if calculated based on the Consolidated
EBITDA on the date of such refinancing, such percentage of Consolidated EBITDA will not be deemed to be exceeded to the extent the principal
amount of such obligations secured by such newly incurred Lien does not exceed the principal amount of such obligations secured by such
Liens being refinanced, plus any accrued and unpaid interest on the Indebtedness (and with respect to Indebtedness under Designated
Revolving Commitments, including an amount equal to any unutilized Designated Revolving Commitments being refinanced, extended, replaced,
refunded, renewed or defeased to the extent permanently terminated at the time of incurrence of such Refinancing Indebtedness), any accrued
and unpaid dividends on the Preferred Stock, and any accrued and unpaid dividends on the Disqualified Stock being so refinanced, extended,
replaced, refunded, renewed or defeased, plus the amount of any tender premium or penalty or premium required to be paid under
the terms of the instrument or documents governing such refinanced Indebtedness, Preferred Stock or Disqualified Stock and any defeasance
costs and any fees and expenses (including original issue discount, upfront fees or similar fees) incurred in connection with the issuance
of such new Indebtedness, Preferred Stock or Disqualified Stock or the extension, replacement, refunding, refinancing, renewal or defeasance
of such refinanced Indebtedness, Preferred Stock or Disqualified Stock.

 

For purposes of this definition, the term “Indebtedness”
will be deemed to include interest and other obligations payable on or with respect to such Indebtedness.

 

“Permitted Parent” means any direct
or indirect parent of the Borrower that at the time it became a parent of the Borrower was a Permitted Holder pursuant to clause (1) of
the definition thereof.

 

“Permitted Ratio Debt” has the
meaning specified in Section 7.02(a).

 

“Permitted Revolver Change of Control”
means any transaction or series of related transactions in which Equity Interests having the power to vote, or to direct the voting of
such Equity Interests, for the election of directors of the Borrower having at least a majority of the ordinary voting power for the election
of members of the board of directors of the Borrower are acquired, directly or indirectly through one or more holding companies, by a
Permitted Buyer and the following additional conditions are met:

 

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(a)           the
Borrower shall be in compliance, on a pro forma basis after giving effect to such transactions or series of related transactions (including
any Indebtedness assumed or permitted to exist or incurred, issued or otherwise obtained in connection therewith, and any related pro
forma adjustments as are appropriate and consistent with Section 1.07), with (x) a Secured Net Leverage Ratio, calculated as
of the last day of the Test Period most recently ended on or prior to the Permitted Revolver Change of Control Effective Date, of not
greater than 3.00:1.00 and (y) a Total Net Leverage Ratio, calculated as of the last day of the Test Period most recently ended on
or prior to the Permitted Revolver Change of Control Effective Date, of not greater than 4.50:1.00;

 

(b)           the
Permitted Buyer, as applicable, shall have made, or substantially concurrently therewith, shall make, cash equity contributions directly
or indirectly to the Permitted Buyer’s acquisition vehicle (and if such acquisition vehicle is not merged with the Borrower then
such cash equity contribution shall be further contributed to the Borrower as cash equity and, in either case, shall be used to consummate
the Permitted Revolver Change of Control) on or prior to the Permitted Revolver Change of Control Effective Date in an aggregate amount
equal to at least 30% of the total consolidated pro forma debt and equity capitalization of the Borrower and its subsidiaries as of the
Permitted Revolver Change of Control Effective Date after giving effect thereto and all other transactions consummated in connection therewith;

 

(c)           a
Ratings Event shall not have occurred;

 

(d)           (i) at
least 15 Business Days prior to the Permitted Revolver Change of Control Effective Date, the Borrower shall have delivered notice to the
Administrative Agent of such Permitted Revolver Change of Control and of the identity of the Permitted Buyer and (ii) not later than
three (3) Business Days prior to the Permitted Revolver Change of Control Effective Date, the Permitted Buyer shall have provided
all customary information that shall have been reasonably requested by the Administrative Agent in writing at least ten (10) Business
Days prior to the Permitted Revolver Change of Control Effective Date and that the Administrative Agent reasonably determines is required
by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including
the PATRIOT Act and the Beneficial Ownership Regulations (and, upon any request made by a Lender to the Administrative Agent, the Administrative
Agent will provide the Lenders with all such information made available to it);

 

(e)           the
Borrower represents to each Lender that (i) neither the Permitted Buyer, nor, to the Borrower’s knowledge, any of the Permitted
Buyer’s subsidiaries, directors, officers, employees, agents or controlled affiliates, is the target of any Sanctions and (ii) neither
the Permitted Buyer, nor any of the Permitted Buyer’s subsidiaries is located, organized or resident in any country, region or territory
that is the target of Sanctions, except to the extent authorized under applicable Sanctions laws;

 

(f)           after
giving effect to the Permitted Revolver Change of Control, the Permitted Buyer and their Subsidiaries shall have, directly or indirectly,
the right to appoint at least a majority of the voting power for the election of directors, managers or other governing board of the Borrower;

 

(g)           (i) on
the date the definitive agreement for such transaction or series of related transactions is executed, both immediately prior to and after
giving effect to such transaction or series of related transactions, no Event of Default shall have occurred and be continuing as of such
date, and (ii) on the date such transaction or series of related transactions is consummated, both immediately prior to and after
giving effect to such transaction or series of related transactions, no Event of Default under Section 8.01(1) or 8.01(6) shall
have occurred and be continuing as of such date;

 

(h)           the
Administrative Agent shall have received an officer’s certificate from the Borrower stating that the conditions described in clauses
(a) through (g) above and the definition of “Qualified Buyer” or “Financial Buyer”, as applicable, have
been satisfied; and

 

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(i)           to
the extent applicable, any direct or indirect acquisition of the Borrower by a Permitted Buyer must comply with Section 7.03(4) and
Section 7.03(5).

 

For the avoidance of doubt and notwithstanding anything
to the contrary herein, only one Permitted Revolver Change of Control shall be permitted to be consummated under this Agreement.

 

When calculating the Secured Net Leverage Ratio or
Total Net Leverage Ratio for purposes of this definition, the Borrower (i) shall be entitled, at its option, to make such calculations
as it would if it were calculating any basket, ratio or other financial metric under this Agreement in connection with a Limited Condition
Transaction and (ii) shall use Consolidated EBITDA of the Borrower for the applicable Test Period without any adjustment for cost
savings, operating expense reductions, run rate benefits or synergies resulting from the Change of Control (whether pursuant to clause
(1) of the definition of Consolidated EBITDA or otherwise).

 

Notwithstanding the provisions of Section 7.05,
the date of October 1, 2021 in Section 7.05(a)(3)(a) shall be automatically amended without further action, to be the date
that is the beginning of the Borrower’s first fiscal quarter following the Permitted Revolver Change of Control Effective Date.

 

“Permitted Revolver Change of Control Effective
Date” means the date of consummation of a Permitted Revolver Change of Control; provided that there shall only be one
Permitted Revolver Change of Control Effective Date.

 

“Permitted Term Loan Change of Control”
means any transaction or series of related transactions in which Equity Interests having the power to vote, or to direct the voting of
such Equity Interests, for the election of directors of the Borrower having at least a majority of the ordinary voting power for the election
of members of the board of directors of the Borrower are acquired, directly or indirectly through one or more holding companies, by a
Permitted Buyer and the following additional conditions are met:

 

(a)           the
Borrower shall be in compliance, on a pro forma basis after giving effect to such transactions or series of related transactions (including
any Indebtedness assumed or permitted to exist or incurred, issued or otherwise obtained in connection therewith, and any related pro
forma adjustments as are appropriate and consistent with Section 1.07), with (x) a Secured Net Leverage Ratio, calculated as
of the last day of the Test Period most recently ended on or prior to the Permitted Term Loan Change of Control Effective Date, of not
greater than 4.50:1.00 and (y) a Total Net Leverage Ratio, calculated as of the last day of the Test Period most recently ended on
or prior to the Permitted Term Loan Change of Control Effective Date, of not greater than 6.00:1.00;

 

(b)           the
Permitted Buyer, as applicable, shall have made, or substantially concurrently therewith, shall make, cash equity contributions directly
or indirectly to the Permitted Buyer’s acquisition vehicle (and if such acquisition vehicle is not merged with the Borrower then
such cash equity contribution shall be further contributed to the Borrower as cash equity and, in either case, shall be used to consummate
the Permitted Term Loan Change of Control) on or prior to the Permitted Term Loan Change of Control Effective Date in an aggregate amount
equal to at least 30% of the total consolidated pro forma debt and equity capitalization of the Borrower and its subsidiaries as of the
Permitted Term Loan Change of Control Effective Date after giving effect thereto and all other transactions consummated in connection
therewith;

 

(f)           a
Ratings Event shall not have occurred;

 

(g)           (i) at
least 15 Business Days prior to the Permitted Term Loan Change of Control Effective Date, the Borrower shall have delivered notice to
the Administrative Agent of such Permitted Term Loan Change of Control and of the identity of the Permitted Buyer and (ii) not later
than three (3) Business Days prior to the Permitted Term Loan Change of Control Effective Date, the Permitted Buyer shall have provided
all customary information that shall have been reasonably requested by the Administrative Agent in writing at least ten (10) Business
Days prior to the Permitted Term Loan Change of Control Effective Date and that the Administrative Agent reasonably determines is required
by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including
the PATRIOT Act and the Beneficial Ownership Regulations (and, upon any request made by a Lender to the Administrative Agent, the Administrative
Agent will provide the Lenders with all such information made available to it);

 

    	 	69	 

     

    

 

(h)           the
Borrower represents to each Lender that (i) neither the Permitted Buyer, nor, to the Borrower’s knowledge, any of the Permitted
Buyer’s subsidiaries, directors, officers, employees, agents or controlled affiliates, is the target of any Sanctions and (ii) neither
the Permitted Buyer, nor any of the Permitted Buyer’s subsidiaries is located, organized or resident in any country, region or territory
that is the target of Sanctions, except to the extent authorized under applicable Sanctions laws;

 

(f)           after
giving effect to the Permitted Term Loan Change of Control, the Permitted Buyer and their Subsidiaries shall have, directly or indirectly,
the right to appoint at least a majority of the voting power for the election of directors, managers or other governing board of the Borrower;

 

(g)           (i) on
the date the definitive agreement for such transaction or series of related transactions is executed, both immediately prior to and after
giving effect to such transaction or series of related transactions, no Event of Default shall have occurred and be continuing as of such
date, and (ii) on the date such transaction or series of related transactions is consummated, both immediately prior to and after
giving effect to such transaction or series of related transactions, no Event of Default under Section 8.01(1) or 8.01(6) shall
have occurred and be continuing as of such date;

 

(h)           the
Administrative Agent shall have received an officer’s certificate from the Borrower stating that the conditions described in clauses
(a) through (g) above and the definition of “Qualified Buyer” or “Financial Buyer”, as applicable, have
been satisfied; and

 

(i)           to
the extent applicable, any direct or indirect acquisition of the Borrower by a Permitted Buyer must comply with Section 7.03(4) and
Section 7.03(5).

 

For
the avoidance of doubt and notwithstanding anything to the contrary herein, only one Permitted Term Loan Change of Control shall
be permitted to be consummated under this Agreement.

 

When calculating the Secured Net Leverage Ratio or
Total Net Leverage Ratio for purposes of this definition, the Borrower (i) shall be entitled, at its option, to make such calculations
as it would if it were calculating any basket, ratio or other financial metric under this Agreement in connection with a Limited Condition
Transaction and (ii) shall use Consolidated EBITDA of the Borrower for the applicable Test Period without any adjustment for cost
savings, operating expense reductions, run rate benefits or synergies resulting from the Change of Control (whether pursuant to clause
(1) of the definition of Consolidated EBITDA or otherwise).

 

Notwithstanding
the provisions of Section 7.05, the date of October 1, 2021 in Section 7.05(a)(3)(a) shall be automatically
amended without further action, to be the date that is the beginning of the Borrower’s first fiscal quarter following the Permitted
Term Loan Change of Control Effective Date.

 

“Permitted Term Loan Change of Control Effective
Date” means the date of consummation of a Permitted Term Loan Change of Control; provided that there shall only be one
Permitted Term Loan Change of Control Effective Date.

 

“Permitted Unsecured Refinancing Debt”
means unsecured Indebtedness incurred by the Borrower and/or the Guarantors in the form of one or more series of senior unsecured notes,
bonds or debentures or unsecured loans (and, if applicable, any Registered Equivalent Notes issued in exchange therefor); provided
that (i) such Indebtedness satisfies the applicable requirements set forth in the provisos in the definition of “Credit Agreement
Refinancing Indebtedness” and (ii) such Indebtedness is not at any time guaranteed by any Subsidiary of the Borrower other
than Subsidiaries that are Guarantors.

 

“Permitted Warrant Transaction”
means any call option, warrant or right to purchase (or substantively equivalent derivative transaction) on the Borrower’s or a
Parent Company’s common equity sold by the Borrower or a Parent Company substantially concurrently with a related Permitted Bond
Hedge Transaction.

 

    	 	70	 

     

    

 

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

 

“Plan” means any “employee
benefit plan” (as such term is defined in Section 3(3) of ERISA), other than a Foreign Plan, established or maintained
by any Loan Party or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any of their
respective ERISA Affiliates.

 

“Planned Expenditures” has the
meaning specified in the definition of Excess Cash Flow.

 

“Platform” has the meaning specified
in Section 6.02.

 

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

 

“Preferred Stock” means any Equity
Interest with preferential rights of payment of dividends or upon liquidation, dissolution or winding up.

 

“Previously Absent Financial Maintenance
Covenant” means, at any time (x) any financial maintenance covenant that is not included in this Agreement at such time
and (y) any financial maintenance covenant that is included in this Agreement at such time but with covenant levels and component
definitions (to the extent relating to such financial maintenance covenant) in this Agreement that are less restrictive on the Borrower
and the Restricted Subsidiaries than those in the applicable Incremental Amendment, Refinancing Amendment, Extension Amendment or amendment
in respect of Replacement Loans or any documents relating to Credit Agreement Refinancing Indebtedness, Permitted Incremental Equivalent
Debt or Refinancing Indebtedness.

 

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

 

“Pro Forma Financial Statements”
has the meaning specified in Section 5.05(3).

 

“Pro Rata Share” means, with respect
to each Lender at any time a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the
amount of the Commitments (or, if the Revolving Commitments have terminated in full, Revolving Exposure) and, if applicable and without
duplication, Term Loans of such Lender at such time and the denominator of which is the amount of the Aggregate Commitments (or, if the
Revolving Commitments have terminated in full, Revolving Exposure) and, if applicable and without duplication, Term Loans at such time;
provided that when used with respect to (i) Commitments, Loans, interest and fees under the Revolving Facility, “Pro
Rata Share,” shall mean with respect to any Lender such Lender’s Applicable Percentage and (ii) Commitments, Loans and
interest under any Term Facility, “Pro Rata Share,” shall mean, with respect to each Lender at any time a fraction (expressed
as a percentage, carried out to the ninth decimal place), the numerator of which is the amount of the Term Commitments and Term Loans
of such Lender under such Term Facility at such time and the denominator of which is the amount of the aggregate Term Commitments and
Term Loans under such Term Facility at such time.

 

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

 

“Public Company Costs” means the
initial costs relating to establishing compliance with the Sarbanes-Oxley Act of 2002, as amended, and other expenses arising out of or
incidental to the Borrower’s or its Restricted Subsidiaries’ initial establishment of compliance with the obligations of a
reporting company, including costs, fees and expenses (including legal, accounting and other professional fees) relating to compliance
with provisions of the Securities Act and the Exchange Act.

 

“Public Lender” has the meaning
specified in Section 6.02.

 

    	 	71	 

     

    

 

“Public-Side Information”
means (i) at any time prior to Holdings or any of its Subsidiaries becoming the issuer of any Traded Securities, information that
is (a) of a type that would be required by applicable Law to be publicly disclosed in connection with an issuance by Holdings or
any of its Subsidiaries of its debt or equity securities pursuant to a registered public offering made at such time or (b) not material
to make an investment decision with respect to securities of Holdings or any of its Subsidiaries (for purposes of United States federal
and state securities laws), and (ii) at any time on and after Holdings or any of its Subsidiaries becoming the issuer of any Traded
Securities, information that does not constitute material non-public information (within the meaning of United States federal and state
securities laws) with respect to Holdings or any of its Subsidiaries or any of their respective securities.

 

“PUC” means any public utility
commission, public service commission or other state regulatory agency or body that exercises jurisdiction over cable television services,
the intrastate rates or services or the ownership, construction or operation of any local or long distance network facility or telecommunications
system or over Persons who own, construct or operate a network facility or telecommunications system used to provide intrastate services,
in each case, by reason of the nature or type of the business subject to regulation and not pursuant to laws and regulations of general
applicability to Persons conducting business in such state.

 

“Purchase Money Obligations” means
any Indebtedness incurred to finance or refinance the acquisition, leasing, construction or improvement of property (real or personal)
or assets (other than Capital Stock), and whether acquired through the direct acquisition of such property or assets, or otherwise.

 

“QFC” has the meaning assigned
to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).

 

“QFC Credit Support” has the meaning
assigned to it in Section 10.26.

 

“Qualified
Buyer” means any Person that (i) is not a Financial Buyer, (ii) is engaged, directly or indirectly through one or
more of its operating Subsidiaries, in a Similar Business, (iii) either (x) has outstanding, as of the Closing Date, U.S. dollar
denominated debt securities with an aggregate principal amount in excess of $10 billion that were previously issued in the U.S. or international
capital markets or (y) immediately prior to the Change of Control Trigger Period, has a LT Corporate Family Rating from S&P of
BBB- or higher and a LT Local Issuer Credit Rating from Moody’s of Baa3 or higher and reported Consolidated Earnings Before Interest,
Taxes, Depreciation and Amortization (“EBITDA”) of at least $300.0 million for the most recently ended four
consecutive fiscal quarters for which financial statements are available (as determined in good faith by the Qualified Buyer), and (iv) acquires
the Borrower, directly or indirectly, in a transaction constituting a Change of Control. EBITDA shall be calculated consistent with the
Qualified Buyer’s methodology for reporting such metric (or a similar comparable metric) to holders of its debt securities, and
any Qualified Buyer with a reporting currency other than US dollars shall convert such amount to U.S. dollars in a manner determined by
the Qualified Buyer in good faith.

 

“Qualified ECP Guarantor” means,
in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10.0 million at the time the relevant guarantee or
grant of the relevant security interest becomes effective with respect to such Swap Obligation or such other Person as constitutes an
 “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another
Person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of
the Commodity Exchange Act.

 

“Qualified Equity Interests” means
any Equity Interests that are not Disqualified Stock.

 

“Qualified Proceeds” means the
fair market value of assets that are used or useful in, or Capital Stock of any Person engaged in, a Similar Business.

 

“Qualified Securitization Facility”
means any Securitization Facility (1) constituting a securitization financing facility that meets the following conditions: (a) the
Board of Directors will have determined in good faith that such Securitization Facility (including financing terms, covenants, termination
events and other provisions) is in the aggregate economically fair and reasonable to the Borrower and the applicable Restricted Subsidiary
or Securitization Subsidiary and (b) all sales or contributions of Securitization Assets and related assets to the applicable Person
or Securitization Subsidiary are made at fair market value (as determined in good faith by the Borrower) or (2) constituting a receivables
financing facility.

 

    	 	72	 

     

    

 

“Qualifying Lender” has the meaning
specified in Section 2.05(1)(e)(D)(3).

 

“Quarterly Financial Statements”
means the unaudited consolidated balance sheets and related unaudited consolidated statements of income, cash flows and stockholders’
equity (deficit) of the Borrower and its Subsidiaries for the fiscal quarters ended March 31, 2021, June 30, 2021 and September 30,
2021.

 

“Rating Agencies” means Moody’s
and S&P, or if Moody’s or S&P (or both) does not make a rating on the relevant obligations publicly available, a nationally
recognized statistical rating agency or agencies, as the case may be, selected by the Borrower that will be substituted for Moody’s
or S&P (or both), as the case may be.

 

“Ratings Event” means the corporate
credit rating of the Borrower by either Rating Agency shall (x) decrease by one or more gradations below B1 (stable), in the case
of Moody’s, or BB- (stable), in the case of S&P, during the Change of Control Trigger Period or (y) immediately prior to
the Change of Control Trigger Period, be below B1 (stable), in the case of Moody’s, or BB- (stable), in the case of S&P, unless
such rating increases to equal or exceed such gradations during the Change of Control Trigger Period.

 

“Receivables Financing Transaction”
means any transaction or series of transactions entered into by Holdings, the Borrower or any Restricted Subsidiary pursuant to which
such party consummates a “true sale” of its receivables to a non-related third party on market terms as determined in good
faith by the Borrower; provided that such Receivables Financing Transaction is (i) non-recourse to Holdings, the Borrower
and the Restricted Subsidiaries and their assets, other than any recourse solely attributable to a breach by Holdings, the Borrower or
any Restricted Subsidiary of representations and warranties that are customarily made by a seller in connection with a “true sale”
of receivables on a non-recourse basis and (ii) consummated pursuant to customary contracts, arrangements or agreements entered into
with respect to the “true sale” of receivables on market terms for similar transactions.

 

“Reference Rate” means (x) with
respect to the calculation of the All-In Yield in the case of Loans of an applicable Class that includes a SOFR floor, an interest
rate per annum equal to the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day that is two (2) U.S.
Government Securities Business Days prior to such date of determination, as such rate is published by the Term SOFR Administrator; provided,
however, that if as of 5:00 p.m. (New York City time) on such date of determination the Term SOFR Reference Rate for the applicable
tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate
has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the
first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term
SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government
Securities Business Days prior to such date of determination, and (y) with respect to the calculation of the All-In Yield in the
case of Loans of an applicable Class that includes a Base Rate floor, the interest rate per annum equal to the highest of (a) the
Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time
by the Administrative Agent as its “prime rate” and (c) the Term SOFR on such day for an Interest Period of one (1) month
plus 1.00% (or, if such day is not a Business Day, the immediately preceding Business Day).

 

“Refinance” has the meaning assigned
in the definition of “Refinancing Indebtedness” and “Refinancing” and “Refinanced” have
meanings correlative to the foregoing.

 

“Refinanced Debt” has the meaning
assigned to such term in the definition of “Refinancing Indebtedness.”

 

    	 	73	 

     

    

 

“Refinancing Amendment” means
an amendment to this Agreement in form and substance reasonably satisfactory to the Administrative Agent and the Borrower executed by
each of (a) the Borrower, (b) the Administrative Agent and (c) each Additional Lender and Lender that agrees to provide
any portion of the Other Loans or Other Commitments being incurred or provided pursuant thereto, in accordance with Section 2.15.

 

“Refinancing Indebtedness” means
(x) Indebtedness incurred by the Borrower or any Restricted Subsidiary, (y) Disqualified Stock issued by the Borrower or any
Restricted Subsidiary or (z) Preferred Stock issued by any Restricted Subsidiary which, in each case, serves to extend, replace,
refund, refinance, renew or defease (“Refinance”) any Indebtedness, Disqualified Stock or Preferred Stock, including
any Refinancing Indebtedness, so long as:

 

(1)           the
principal amount (or accreted value, if applicable) of such new Indebtedness, the amount of such new Preferred Stock or the liquidation
preference of such new Disqualified Stock does not exceed (a) the principal amount of (or accreted value, if applicable) Indebtedness,
the amount of Preferred Stock or the liquidation preference of Disqualified Stock being so extended, replaced, refunded, refinanced, renewed
or defeased (such Indebtedness, Disqualified Stock or Preferred Stock, the “Refinanced Debt”), plus (b) any
accrued and unpaid interest on, or any accrued and unpaid dividends on, such Refinanced Debt, plus (c) the amount of any tender
premium or penalty or premium required to be paid under the terms of the instrument or documents governing such Refinanced Debt and any
defeasance costs and any fees and expenses (including original issue discount, upfront fees or similar fees) incurred in connection with
the issuance of such new Indebtedness, Preferred Stock or Disqualified Stock or to Refinance such Refinanced Debt (such amounts in clause
(b) and (c) the “Incremental Amounts”);

 

(2)           such
Refinancing Indebtedness has a:

 

(a)           Weighted
Average Life to Maturity at the time such Refinancing Indebtedness is incurred that is not less than the remaining Weighted Average Life
to Maturity of the applicable Refinanced Debt; and

 

(b)           final
scheduled maturity date equal to or later than the final scheduled maturity date of the Refinanced Debt (or, if earlier, the date that
is 91 days after the Latest Maturity Date of the Loans);

 

(3)           to
the extent such Refinancing Indebtedness Refinances (a) Subordinated Indebtedness (other than Subordinated Indebtedness assumed or
acquired in an acquisition and not created in contemplation thereof), unless such Refinancing constitutes a Restricted Payment permitted
by Section 7.05, such Refinancing Indebtedness is subordinated to the Loans or the Guaranty thereof at least to the same extent as
the applicable Refinanced Debt, (b) Junior Lien Debt, such Refinancing Indebtedness is (i) unsecured or (ii) secured by
Liens that are subordinated to the Liens that secure the Loans or the Guaranty thereof, in each case at least to the same extent as the
applicable Refinanced Debt or pursuant to a Junior Lien Intercreditor Agreement, in each case, unless such Refinancing Indebtedness is
secured by a Lien that is not so subordinated that is permitted by Section 7.01, or (c) Disqualified Stock or Preferred Stock,
such Refinancing Indebtedness must be Disqualified Stock or Preferred Stock, respectively;

 

(4)           such
Refinancing Indebtedness shall not be guaranteed or borrowed by any Person other than a Person that is so obligated in respect of the
Refinanced Debt being Refinanced; and

 

(5)           such
Refinancing Indebtedness shall not be secured by any assets or property of Holdings, the Borrower or any Restricted Subsidiary that does
not secure the Refinanced Debt being Refinanced (plus improvements, accessions, proceeds or dividends or distributions in respect
thereof and after-acquired property);

 

    	 	74	 

     

    

 

provided
that Refinancing Indebtedness will not include:

 

(a)            Indebtedness,
Disqualified Stock or Preferred Stock of a Subsidiary of the Borrower that is not a Guarantor that refinances Indebtedness or Disqualified
Stock of the Borrower;

 

(b)           Indebtedness,
Disqualified Stock or Preferred Stock of a Subsidiary of the Borrower that is not a Guarantor that refinances Indebtedness, Disqualified
Stock or Preferred Stock of a Guarantor; or

 

(c)            Indebtedness
or Disqualified Stock of the Borrower or Indebtedness, Disqualified Stock or Preferred Stock of a Restricted Subsidiary that refinances
Indebtedness, Disqualified Stock or Preferred Stock of an Unrestricted Subsidiary;

 

provided
further that (x) clause (2) of this definition will not apply to any Refinancing of any Indebtedness other than
Indebtedness incurred under clause (30) of Section 7.02(b) (including any successive Refinancings thereof incurred under clause
(13) of Section 7.02(b)) and any Subordinated Indebtedness (other than Subordinated Indebtedness assumed or acquired in an Investment
or acquisition and not created in contemplation thereof), Disqualified Stock and Preferred Stock and (y) Refinancing Indebtedness
may be incurred in the form of a bridge or other interim credit facility intended to be Refinanced with long-term indebtedness (and such
bridge or other interim credit facility shall be deemed to satisfy clause (2) of this definition so long as (x) such credit
facility includes customary “rollover” provisions and (y) assuming such credit facility were to be extended pursuant
to such “rollover” provisions, such extended credit facility would comply with clause (2) of this definition).

 

“Refunding Capital Stock” has
the meaning specified in Section 7.05(b)(2).

 

“Register” has the meaning specified
in Section 10.07(c).

 

“Registered Equivalent Notes”
means, with respect to any notes originally issued in a Rule 144A or other private placement transaction under the Securities Act,
substantially identical notes (having the same Guarantees) issued in a dollar-for-dollar exchange therefor pursuant to an exchange offer
registered with the SEC.

 

“Rejection Notice” has the meaning
specified in Section 2.05(2)(g).

 

“Related Business Assets” means
assets (other than Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Borrower or
a Restricted Subsidiary in exchange for assets transferred by the Borrower or a Restricted Subsidiary will not be deemed to be Related
Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person is or would
become a Restricted Subsidiary.

 

“Related Indemnified Person”
of an Indemnitee means (1) any controlling Person or controlled Affiliate of such Indemnitee, (2) the respective directors,
officers, partners, employees, advisors or successors of such Indemnitee or any of its controlling Persons or controlled Affiliates and
(3) the respective agents, trustees and other representatives of such Indemnitee or any of its controlling Persons or controlled
Affiliates, in the case of this clause (3), acting at the instructions of such Indemnitee, controlling Person or such controlled
Affiliate; provided that each reference to a controlled Affiliate or controlling Person in this definition pertains to a controlled
Affiliate or controlling Person involved in the negotiation of this Agreement or the syndication of the Facilities. For purposes of this
definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by”
and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities,
by agreement or otherwise.

 

“Related Person” means, with
respect to any Person, (a) any Affiliate of such Person, (b) the respective directors, officers, partners, employees, advisors,
agents, trustees and other representatives of such Person or any of its Affiliates and (c) the successors and permitted assigns
of such Person or any of its Affiliates.

 

“Release” means any release,
spill, emission, discharge, deposit, disposal, leaking, pumping, pouring, dumping, emptying, injection or leaching into or migration
through the Environment.

 

    	 	75	 

     

    

 

“Relevant
Governmental Body” means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York,
or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of
New York, or any successor thereto.

 

“Replaced Loans” has the meaning
specified in Section 10.01.

 

“Replacement Loans” has the meaning
specified in Section 10.01.

 

“Reportable Event” means, with
respect to any Pension Plan, any of the events set forth in Section 4043(c) of ERISA or the regulations issued thereunder,
other than events for which the thirty (30) day notice period has been waived.

 

“Repricing
Transaction” means (i) the prepayment, refinancing, substitution, replacement or conversion of all or a portion of the
Term B Loans with the incurrence by the Borrower or any other Subsidiary of any senior secured first lien term loans under any
credit facilities the primary purpose of which is to reduce the All-In Yield of such Indebtedness relative to the Term B Loans so repaid,
refinanced, substituted, replaced or converted and (ii) any amendment, amendment or restatement or other modification to this Agreement
the primary purpose of which is to reduce the All-In Yield applicable to the Term B Loans, excluding, in each case, for avoidance of
doubt, any such reductions in connection with (a) a Change of Control, or (b) an Enterprise Transformative Event.

 

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

 

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

 

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

 

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

 

“Responsible Officer” means,
with respect to a Person, the chief executive officer, chief operating officer, president, executive vice president, chief financial
officer, treasurer or assistant treasurer or other similar officer or Person performing similar functions, of such Person and, solely
for purposes of notices given pursuant to Article II, any other officer or employee of the applicable Loan Party so designated by
any of the foregoing officers in a notice to the Administrative Agent or any other officer or employee of the applicable Loan Party designated
in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent. With respect to any document delivered
by a Loan Party on the Closing Date, Responsible Officer includes any secretary or assistant secretary of such Loan Party. Any document
delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by
all necessary corporate, partnership or other action on the part of such Loan Party and such Responsible Officer shall be conclusively
presumed to have acted on behalf of such Loan Party. Unless otherwise specified, all references herein to a “Responsible Officer”
shall refer to a Responsible Officer of the Borrower.

 

    	 	76	 

     

    

 

“Restricted Investment” means
any Investment other than any Permitted Investment(s).

 

“Restricted Payment” has the
meaning specified in Section 7.05.

 

“Restricted Subsidiary” means,
at any time, any direct or indirect Subsidiary of Holdings (including any Foreign Subsidiary) that is not then an Unrestricted Subsidiary;
provided that notwithstanding the foregoing, in no event will any Securitization Subsidiary be considered a Restricted Subsidiary
for purposes of Section 8.01(5), (6) or (7); provided further that upon the occurrence of an Unrestricted Subsidiary
ceasing to be an Unrestricted Subsidiary, such Subsidiary will be included in the definition of “Restricted Subsidiary.”
Wherever the term “Restricted Subsidiary” is used herein with respect to any Subsidiary of a referenced Person that is not
the Borrower, then it will be construed to mean a Person that would be a Restricted Subsidiary of Holdings on a pro forma basis
following consummation of one or a series of related transactions involving such referenced Person and Holdings (unless such transaction
would include a designation of a Subsidiary of such Person as an Unrestricted Subsidiary on a pro forma basis in accordance with
this Agreement).

 

“Revolving Borrowing” means a
borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of SOFR Loans, having the same Interest Period,
made by each of the Revolving Lenders pursuant to Section 2.01(2).

 

“Revolving Commitment” means,
as to each Revolving Lender, its obligation to (1) make Revolving Loans to the Borrower pursuant to Section 2.01(2) and
(2) purchase participations in L/C Obligations in respect of Letters of Credit in an aggregate principal amount at any one time
outstanding not to exceed the amount specified opposite such Lender’s name on Schedule 2.01 hereto or in the Assignment
and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time
in accordance with this Agreement. The aggregate Revolving Commitments of all Revolving Lenders as of the Closing Date is $250.0 million,
as such amount may be adjusted from time to time in accordance with the terms of this Agreement.

 

“Revolving Commitment Increase”
has the meaning specified in Section 2.14(1).

 

“Revolving Exposure” means, as
to each Revolving Lender, the sum of the amount of the Outstanding Amount of such Revolving Lender’s Revolving Loans and its Applicable
Percentage of the amount of the L/C Obligations at such time.

 

“Revolving Extension Request”
has the meaning provided in Section 2.16(2).

 

“Revolving Extension Series”
has the meaning provided in Section 2.16(2).

 

“Revolving Facility” means, at
any time, the aggregate amount of the Revolving Commitments at such time.

 

“Revolving Lender” means, at
any time, any Lender that has a Revolving Commitment at such time or, if Revolving Commitments have terminated, Revolving Exposure.

 

“Revolving Loan” has the meaning
specified in Section 2.01(2) and includes Revolving Loans under the Revolving Facility, Incremental Revolving Loans, Other
Revolving Loans and Loans made pursuant to Extended Revolving Commitments.

 

“Revolving Note” means a promissory
note of the Borrower payable to any Revolving Lender or its registered assigns, in substantially the form of Exhibit B-2
hereto, evidencing the aggregate Indebtedness of the Borrower to such Revolving Lender resulting from the Revolving Loans made by such
Revolving Lender.

 

“S&P” means S&P Global
Ratings, a business unit of Standard & Poor’s Financial Services LLC, and any successor thereto.

 

    	 	77	 

     

    

 

“Sale-Leaseback Transaction”
means any arrangement providing for the leasing by the Borrower or any Restricted Subsidiary of any real or tangible personal property,
which property has been or is to be sold or transferred by the Borrower or such Restricted Subsidiary to a third Person in contemplation
of such leasing.

 

“Same Day Funds” means disbursements
and payments in immediately available funds.

 

“Sanctions” has the meaning specified
in Section 5.17.

 

“SEC” means the U.S. Securities
and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions.

 

“Secured Cash Management Agreement”
means any Cash Management Agreement that is entered into by and between Holdings, the Borrower or any Restricted Subsidiary and a Cash
Management Bank; and designated in writing by the Borrower to the Administrative Agent as a “Secured Cash Management Agreement.”

 

“Secured Hedge Agreement” means
any Hedge Agreement with respect to Hedging Obligations permitted under Section 7.02 that is (a) entered into by and between
any Loan Party or Restricted Subsidiary and any Hedge Bank and (b) designated in writing by the Borrower to the Administrative Agent
as a “Secured Hedge Agreement.”

 

“Secured Indebtedness” means
any Indebtedness of the Borrower or any Restricted Subsidiary secured by a Lien.

 

“Secured Net Leverage Ratio”
means, with respect to any Test Period, the ratio of (a) Consolidated Secured Debt outstanding as of the last day of such Test Period,
minus, the aggregate amount of cash and Cash Equivalents of the Borrower and the Restricted Subsidiaries on such date that (x) would
not appear as “restricted” on a consolidated balance sheet of the Borrower and the Restricted Subsidiaries or (y) are
restricted in favor of the Facilities (which may also secure other Indebtedness secured by a pari passu or junior Lien on the
Collateral along with the Facilities) to (b) Consolidated EBITDA of the Borrower and the Restricted Subsidiaries for such Test Period,
in each case on a pro forma basis with such pro forma adjustments as are appropriate and consistent with Section 1.07.

 

“Secured Parties” means, collectively,
the Administrative Agent, the Collateral Agent, the Lenders, each Issuing Bank, each Hedge Bank, each Cash Management Bank, each Supplemental
Administrative Agent and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.01(2) or
9.07.

 

“Securities Act” means the Securities
Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 

“Securitization Assets” means
(a) the accounts receivable, royalty or other revenue streams and other rights to payment and other assets related thereto subject
to a Qualified Securitization Facility and the proceeds thereof and (b) contract rights, lockbox accounts and records with respect
to such accounts receivable and any other assets customarily transferred together with accounts receivable in a securitization financing.

 

“Securitization Facility” means
any transaction or series of securitization financings that may be entered into by the Borrower or any Restricted Subsidiary pursuant
to which the Borrower or any such Restricted Subsidiary may sell, convey or otherwise transfer, or may grant a security interest in,
Securitization Assets to either (a) a Person that is not the Borrower or a Restricted Subsidiary or (b) a Securitization Subsidiary
that in turn sells such Securitization Assets to a Person that is not the Borrower or a Restricted Subsidiary, or may grant a security
interest in, any Securitization Assets of the Borrower or any of its Subsidiaries.

 

“Securitization Fees” means distributions
or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and
other fees and expenses (including reasonable fees and expenses of legal counsel) paid to a Person that is not a Securitization Subsidiary
in connection with, any Qualified Securitization Facility.

 

    	 	78	 

     

    

 

“Securitization Subsidiary” means
any Subsidiary formed for the purpose of, and that solely engages only in one or more Qualified Securitization Facilities and other activities
reasonably related thereto.

 

“Security Agreement” means, collectively,
the Pledge and Security Agreement executed by the Loan Parties and the Collateral Agent, substantially in the form of Exhibit F,
together with supplements or joinders thereto executed and delivered pursuant to Section 6.11.

 

“Significant Subsidiary” means
any Restricted Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation
S-X of the SEC, as such regulation is in effect on the Closing Date.

 

“Similar Business” means (1) any
business conducted or proposed to be conducted by the Borrower or any Restricted Subsidiary on the Closing Date or (2) any business
or other activities that are reasonably similar, ancillary, incidental, complementary or related to (including non-core incidental businesses
acquired in connection with any Permitted Investment), or a reasonable extension, development or expansion of, the businesses that the
Borrower and its Restricted Subsidiaries conduct or propose to conduct on the Closing Date.

 

“SOFR” means a rate equal to
the secured overnight financing rate as administered by the SOFR Administrator.

 

“SOFR Administrator” means the
Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

 

“SOFR Borrowing” means, as to
any Borrowing, the SOFR Loans comprising such Borrowing.

 

“SOFR Loan” means a Loan that
bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of Base Rate.

 

“Solicited Discount Proration”
has the meaning specified in Section 2.05(1)(e)(D)(3).

 

“Solicited Discounted Prepayment Amount”
has the meaning specified in Section 2.05(1)(e)(D)(1).

 

“Solicited Discounted Prepayment Notice”
means a written notice of the Borrower of Solicited Discounted Prepayment Offers made pursuant to Section 2.05(1)(e)(D) substantially
in the form of Exhibit L.

 

“Solicited Discounted Prepayment Offer”
means the written offer by each Lender, substantially in the form of Exhibit O, submitted following the Administrative Agent’s
receipt of a Solicited Discounted Prepayment Notice.

 

“Solicited Discounted Prepayment Response
Date” has the meaning specified in Section 2.05(1)(e)(D)(1).

 

“Solvent” and “Solvency”
mean, with respect to any Person on any date of determination, that on such date:

 

(1)            the
fair value of the assets of such Person exceeds its debts and liabilities, subordinated, contingent or otherwise,

 

(2)            the
present fair saleable value of the property of such Person is greater than the amount that will be required to pay the probable liability
of its debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured,

 

    	 	79	 

     

    

 

(3)            such
Person is able to pay its debts and liabilities, subordinated, contingent or otherwise, as such liabilities become absolute and matured
and

 

(4)            such
Person is not engaged in, and is not about to engage in, business for which it has unreasonably small capital.

 

The amount of any contingent liability at any time shall be computed
as the amount that would reasonably be expected to become an actual and matured liability.

 

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

 

“Specified Discount” has the
meaning specified in Section 2.05(1)(e)(B)(1).

 

“Specified Discount Prepayment Amount”
has the meaning specified in Section 2.05(1)(e)(B)(1).

 

“Specified Discount Prepayment Notice”
means a written notice of the Borrower’s Offer of Specified Discount Prepayment made pursuant to Section 2.05(1)(e)(B) substantially
in the form of Exhibit N.

 

“Specified Discount Prepayment Response”
means the written response by each Lender, substantially in the form of Exhibit P, to a Specified Discount Prepayment Notice.

 

“Specified Discount Prepayment Response
Date” has the meaning specified in Section 2.05(1)(e)(B)(1).

 

“Specified Discount Proration”
has the meaning specified in Section 2.05(1)(e)(B)(3).

 

“Specified Representations” means
those representations and warranties made in Sections 5.01(1) (with respect to the organizational existence of the Loan Parties
only), 5.01(2)(b), 5.02(1), 5.02(2)(a), 5.04, 5.13, 5.16, the last sentence of 5.17 (as related only to the use of proceeds of the Facilities
on the Closing Date not violating the USA PATRIOT Act or OFAC) and 5.18.

 

“Specified Transaction” means:

 

(1)            solely
for the purposes of determining the applicable cash balance, any contribution of capital, including as a result of an Equity Offering,
to the Borrower, in each case, in connection with an acquisition or Investment,

 

(2)            any
designation of operations or assets of the Borrower or a Restricted Subsidiary as discontinued operations (as defined under GAAP),

 

(3)            any
Investment that results in a Person becoming a Restricted Subsidiary,

 

(4)            any
designation of a Subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary in compliance with this Agreement,

 

(5)            any
purchase or other acquisition of a business of any Person, of assets constituting a business unit, line of business or division of any
Person,

 

(6)            any
Asset Sale (without regard to any de minimis thresholds set forth therein) (a) that results in a Restricted Subsidiary ceasing to
be a Subsidiary of the Borrower or (b) of a business, business unit, line of business or division of the Borrower or a Restricted
Subsidiary, in each case whether by merger, amalgamation, consolidation or otherwise,

 

    	 	80	 

     

    

 

(7)            any
operational changes identified by the Borrower that have been made by the Borrower or any Restricted Subsidiary during the Test Period,

 

(8)            any
borrowing of Incremental Loans or Permitted Incremental Equivalent Debt (or establishment of Incremental Commitments), or

 

(9)            any
Restricted Payment or other transaction that by the terms of this Agreement requires a financial ratio to be calculated on a pro forma
basis.

 

“State Telecommunications Laws”
means the statutes of the states of the United States and the District of Columbia governing the provisions of telecommunications services
or cable television services by the Loan Parties, and the rules, regulations and published policies, procedures, orders and decisions
of the applicable PUC or local franchising authority applicable to the Loan Parties.

 

“Sterling” means the lawful currency
of the United Kingdom.

 

“Submitted Amount” has the meaning
specified in Section 2.05(1)(e)(C)(1).

 

“Submitted Discount” has the
meaning specified in Section 2.05(1)(e)(C)(1).

 

“Subordinated Indebtedness” means
any Indebtedness of any Loan Party that by its terms is subordinated in right of payment to the Obligations of such Loan Party arising
under the Loans or the Guaranty.

 

“Subsidiary” means, with respect
to any Person:

 

(1)            any
corporation, association or other business entity (other than a partnership, joint venture, limited liability company or similar entity)
of which more than 50.0% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency)
to vote in the election of directors, members of management or trustees thereof is at the time of determination owned or controlled,
directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof; and

 

(2)            any
partnership, joint venture, limited liability company or similar entity of which:

 

(a)            more
than 50.0% of the capital accounts, distribution rights, total equity and voting interests or general or limited partnership interests,
as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person
or a combination thereof whether in the form of membership, general, special or limited partnership or otherwise; and

 

(b)            such
Person or any Restricted Subsidiary of such Person is a controlling general partner or otherwise controls such entity.

 

Unless otherwise specified, all references herein
to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower.

 

“Subsidiary Guarantor” means
any Guarantor other than Holdings.

 

“Successor Borrower” has the
meaning specified in Section 7.03(4).

 

“Successor Holdings” has the
meaning specified in Section 7.03(5).

 

“Supplemental Administrative Agent”
and “Supplemental Administrative Agents” have the meanings specified in Section 9.15(1).

 

    	 	81	 

     

    

 

“Swap Obligation” has the meaning
specified in the definition of “Excluded Swap Obligation.”

 

“Tax” means any present or future
tax, levy, impost, duty, assessment, charge, fee, deduction or withholding (including backup withholding) of any nature and whatever
called, imposed by any Governmental Authority, including any interest, additions to tax and penalties applicable thereto.

 

“Tax Group” has the meaning specified
in Section 7.05(b)(14)(b).

 

“Tax Indemnitee” as defined in
Section 3.01(5).

 

“Term B Loan” or “Term
B Loans” has the meaning specified in Section 2.01(1).

 

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

 

“Term
Commitment” means, as to each Term Lender, its obligation to make a Term Loan to the Borrower hereunder, expressed as an amount
representing the maximum principal amount of the Term Loan to be made by such Term Lender under this Agreement, as such commitment may
be (a) reduced from time to time pursuant to this Agreement and (b) reduced or increased from time to time pursuant to (i) assignments
by or to such Term Lender pursuant to an Assignment and Assumption, (ii) an Incremental Amendment, (iii) a Refinancing Amendment,
(iv) an Extension Amendment or (v) an amendment in respect of Replacement Loans. The aggregate amount of the Term Commitments
of the Term Lenders as of the Closing Date is $730.0 million; and the amount of each Term Lender’s Term Commitment shall be specified
on Schedule 2.01 hereto or in the Assignment and Assumption, Incremental Amendment, Refinancing Amendment, Extension Amendment
or amendment in respect of Replacement Loans pursuant to which such Lender shall have assumed its Commitment, as the case may be.

 

“Term Facility” means any Facility
consisting of Term Loans of a single Class and/or Term Commitments with respect to such Class of Term Loans.

 

“Term Lender” means, at any time,
any Lender that has a Term Commitment or a Term Loan at such time.

 

“Term Loan” means any Closing
Date Term Loan, Term B Loan, Incremental Term Loan, Other Term Loan, Extended Term Loan or Replacement Loan, as the context may
require.

 

“Term Loan Extension Request”
has the meaning provided in Section 2.16(1).

 

“Term Loan Extension Series”
has the meaning provided in Section 2.16(1).

 

“Term Loan Increase” has the
meaning specified in Section 2.14(1).

 

“Term Note” means a promissory
note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit B-1 hereto,
evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender.

 

“Term SOFR” means,

 

(1)            for
any calculation with respect to a SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on
the day (such day, the “Periodic Term SOFR Determination 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; provided, however,
that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable
tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference
Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator
on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by
the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S.
Government Securities Business Days prior to such Periodic Term SOFR Determination Day, and

 

    	 	82	 

     

    

 

(2)            for
any calculation with respect to a Base Rate Loan on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day,
the “Base Rate Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to
such day, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New
York City Time) on any Base Rate Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published
by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term
SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government
Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as
such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days
prior to such Base Rate SOFR Determination Day; provided, further, that if Term SOFR determined as provided above
(including pursuant to the proviso under clause (1) or (2) above) shall ever be less than the Floor, then Term SOFR shall be
deemed to be the Floor.

 

“Term SOFR Adjustment” means,
for any calculation with respect to a Base Rate Loan or a SOFR Loan, a percentage per annum as set forth below for the applicable Type
of such Loan and (if applicable) Interest Period therefor:

 

Base Rate Loans: 0.00%.

 

SOFR Loans:

 

	Interest Period	 	Percentage	 
	One month	 	 	0.00	%
	Three months	 	 	0.00	%

 

“Term SOFR Administrator” means
CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative
Agent in its reasonable discretion).

 

“Term SOFR Reference Rate” means
the forward-looking term rate based on SOFR.

 

“Termination Conditions” means,
collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not
then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination
of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of
the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped
by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable
to the applicable Issuing Bank).

 

“Test Period” in effect at any
time means the most recent period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting
period) in respect of which, subject to Section 1.07(1), financial statements for each quarter or fiscal year in such period have
been or are required to be delivered pursuant to Section 6.01(1) or (2), as applicable; provided that, prior to the
first date that financial statements have been or are required to be delivered pursuant to Section 6.01(1) or (2), the Test
Period in effect shall be the period of four consecutive full fiscal quarters of the Borrower ended prior to the Closing Date for which
financial statements would have been required to be delivered hereunder had the Closing Date occurred prior to the end of such period.

 

    	 	83	 

     

    

 

“Threshold Amount” means $75.0
million.

 

“Total Assets” means, at any
time, the total assets of the Borrower and the Restricted Subsidiaries, determined on a consolidated basis in accordance with GAAP, as
shown on the then most recent balance sheet of the Borrower or such other Person as may be available (as determined in good faith by
the Borrower) (and, in the case of any determination relating to any Specified Transaction, on a pro forma basis including any
property or assets being acquired in connection therewith).

 

“Total Net Leverage Ratio” means,
with respect to any Test Period, the ratio of (a) Consolidated Total Debt outstanding as of the last day of such Test Period (plus,
solely for the purposes of testing the Total Net Leverage Ratio under Sections 2.14(4)(c), 7.02(a) (including any incurrence of
Indebtedness pursuant to other Sections of this Agreement that reference the test contained in such Section) and 7.02(b), the aggregate
liquidation preference of (i) all Disqualified Stock of the Borrower and the Restricted Subsidiaries determined on a consolidated
basis in accordance with GAAP and (ii) all Preferred Stock of Restricted Subsidiaries (except to the extent held by the Borrower
or a Restricted Subsidiary), in each case, outstanding on the last day of such Test Period), minus, the aggregate amount of cash
and Cash Equivalents of the Borrower and the Restricted Subsidiaries on such date that (x) would not appear as “restricted”
on a consolidated balance sheet of the Borrower and the Restricted Subsidiaries or (y) restricted in favor of the Facilities (which
may also secure other Indebtedness secured by a pari passu or junior Lien on the Collateral along with the Facilities) to (b) Consolidated
EBITDA of the Borrower and the Restricted Subsidiaries for such Test Period, in each case on a pro forma basis with such pro forma adjustments
as are appropriate and consistent with Section 1.07.

 

“Total Outstandings” means the
aggregate Outstanding Amount of all Loans and L/C Obligations.

 

“Traded Securities” means any
debt or equity securities issued pursuant to a public offering or Rule 144A offering.

 

“Transaction Expenses” means
any fees, expenses, costs or charges incurred or paid by the Borrower or any Restricted Subsidiary in connection with the Transactions,
including any expenses in connection with hedging transactions.

 

“Transactions” means, collectively,
the funding of the Closing Date Loans on the Closing Date, the consummation of the Closing Date Refinancing and the payment of the Transaction
Expenses.

 

“Treasury Capital Stock” has
the meaning assigned to such term in Section 7.05(b)(2)(a).

 

“Type” means, with respect to
a Loan, its character as a Base Rate Loan or a SOFR Loan.

 

“UCP” means, with respect to
any Letter of Credit, the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce Publication No. 600
(or such later version thereof as may be in effect at the time of issuance).

 

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

 

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

 

“Unadjusted
Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

 

    	 	84	 

     

    

 

“Uniform Commercial Code” or
 “UCC” means the Uniform Commercial Code or any successor provision thereof as the same may from time to time be in
effect in the State of New York or the Uniform Commercial Code or any successor provision thereof (or similar code or statute) of another
jurisdiction, to the extent it may be required to apply to the perfection or priority of any Lien on or otherwise with regard to any
item or items of Collateral.

 

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

 

“United States Tax Compliance Certificate”
has the meaning specified in Section 3.01(3)(b)(iii).

 

“Unreimbursed Amount” has the
meaning specified in Section 2.03(3)(a).

 

“Unrestricted Subsidiary” means:

 

(1)            any
Subsidiary of the Borrower which at the time of determination is an Unrestricted Subsidiary (as designated by the Borrower, as provided
below); and

 

(2)            any
Subsidiary of an Unrestricted Subsidiary.

 

The Borrower may designate:

 

(a)            any
Subsidiary of the Borrower (including any existing Subsidiary and any newly acquired or newly formed Subsidiary) to be an Unrestricted
Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien
on, any property of, the Borrower or any Subsidiary (other than solely any Subsidiary of the Subsidiary to be so designated); provided
that:

 

(i)             such
designation shall be deemed an Investment;

 

(ii)            each
of (i) the Subsidiary to be so designated and (ii) its Subsidiaries has not, at the time of designation, and does not thereafter,
create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable with respect to any Indebtedness pursuant to
which the lender has recourse to any of the assets of the Borrower or any Restricted Subsidiary (other than Equity Interests in an Unrestricted
Subsidiary); and

 

(iii)            both
immediately prior to and after giving effect to such designation, no Event of Default will have occurred and be continuing; and

 

(b)            any
Unrestricted Subsidiary to be a Restricted Subsidiary; provided that:

 

(i)             both
immediately prior to and after giving effect to such designation, no Event of Default will have occurred and be continuing; and

 

(ii)            the
Borrower could incur at least $1.00 of additional Permitted Ratio Debt.

 

Any such designation by the Borrower will be notified
by the Borrower to the Administrative Agent by promptly filing with the Administrative Agent an Officer’s Certificate certifying
that such designation complied with the foregoing provisions. The designation of any Unrestricted Subsidiary as a Restricted Subsidiary
shall constitute the incurrence at the time of designation of any Indebtedness and Liens of such Subsidiary existing at such time.

 

    	 	85	 

     

    

 

“U.S. Government Securities Business Day”
means any day except for (x) a Saturday, (y) a Sunday or (z) 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. Lender” means any Lender
that is not a Foreign Lender.

 

“USA PATRIOT Act” means The Uniting
and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Public
Law No. 107-56 (signed into law October 26, 2001)), as amended or modified from time to time.

 

“Voting Stock” of any Person
as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors
of such Person.

 

“Weighted Average Life to Maturity”
means, when applied to any Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, at any date, the quotient obtained
by dividing:

 

(1)            the
sum of the products of the number of years (calculated to the nearest one-twenty-fifth) from the date of determination to the date of
each successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock
or Preferred Stock, multiplied by the amount of such payment, by

 

(2)            the
sum of all such payments;

 

provided
that for purposes of determining the Weighted Average Life to Maturity of any Indebtedness that is being Refinanced (the “Applicable
Indebtedness”), the effects of any amortization or prepayments made on such Applicable Indebtedness prior to the date of the
applicable Refinancing will be disregarded.

 

“wholly owned” means, with respect
to any Subsidiary of any Person, a Subsidiary of such Person one hundred percent (100%) of the outstanding Equity Interests of which
(other than (x) directors’ qualifying shares and (y) shares of Capital Stock of Foreign Subsidiaries issued to foreign
nationals as required by applicable Law) is at the time owned by such Person or by one or more wholly owned Subsidiaries of such Person.

 

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

 

“Withholding U.S. Branch” means
a U.S. branch of a non-U.S. bank treated as a U.S. person for purposes of Treasury Regulations Section 1.1441-1 and described in
Treasury Regulations Section 1.1441-(b)(2)(iv) that agrees, on IRS Form W-8IMY or such other form prescribed by the Treasury
or the IRS, to accept responsibility for all U.S. federal income tax withholding and information reporting with respect to payments made
to the Administrative Agent for the account of Lenders by or on behalf of any Loan Party under the Loan Documents.

 

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

 

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SECTION 1.02     Other
Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such
other Loan Document:

 

(1)            The
meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

 

(2)            The
words “herein,” “hereto,” “hereof” and “hereunder” and words of similar import when used
in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof.

 

(3)            References
in this Agreement to an Exhibit, Schedule, Article, Section, Annex, clause or subclause refer (a) to the appropriate Exhibit or
Schedule to, or Article, Section, clause or subclause in this Agreement or (b) to the extent such references are not present in
this Agreement, to the Loan Document in which such reference appears, in each case as such Exhibit, Schedule, Article, Section, Annex,
clause or subclause may be amended or supplemented from time to time.

 

(4)            The
term “including” is by way of example and not limitation.

 

(5)            The
term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements
and other writings, however evidenced, whether in physical or electronic form.

 

(6)            In
the computation of periods of time from a specified date to a later specified date, the word “from” means “from and
including”; the words “to” and “until” each mean “to but excluding”; and the word “through”
means “to and including.”

 

(7)            Section headings
herein and in the other Loan Documents are included for convenience of reference only and shall not affect the interpretation of this
Agreement or any other Loan Document.

 

(8)            The
word “or” is not intended to be exclusive unless expressly indicated otherwise.

 

(9)            For
purposes of determining compliance with any Section of Article VII, in the event that any Lien, Investment, Indebtedness,
Asset Sale, Restricted Payment, Affiliate Transaction, Contractual Obligation or prepayment of Indebtedness meets the criteria of one
or more of the categories of transactions permitted pursuant to any clause of such Sections, such transaction (or portion thereof) at
any time, shall be permitted under one or more of such clauses as determined by the Borrower in its sole discretion at such time. For
purposes of determining compliance with the incurrence of any Credit Agreement Refinancing Indebtedness or Refinancing Indebtedness that
restricts the amount of such Indebtedness relative to the amount of Credit Agreement Refinanced Debt or Refinanced Debt, respectively,
the Borrower and Restricted Subsidiaries may incur an incremental principal amount of Credit Agreement Refinancing Indebtedness or Refinancing
Indebtedness in such refinancing to the extent that the excess portion of the Credit Agreement Refinancing Indebtedness or Refinancing
Indebtedness would otherwise be permitted to be incurred in accordance with this Agreement. For purposes of determining compliance with
the incurrence of any Indebtedness under Designated Revolving Commitments in reliance on compliance with any ratio, if on the date such
Designated Revolving Commitments are established, the applicable ratio is satisfied after giving pro forma effect to the incurrence
of the entire committed amount of then proposed Indebtedness thereunder, then such committed amount under such Designated Revolving Commitments
may thereafter be borrowed and reborrowed, in whole or in part, from time to time, without further compliance with any ratio.

 

(10)          For
purposes hereof, unless otherwise specifically indicated, the term “consolidated” with respect to any Person refers to such
Person consolidated with its Restricted Subsidiaries and excludes from such consolidation any Unrestricted Subsidiary as if such Unrestricted
Subsidiary were not an Affiliate of such Person.

 

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SECTION 1.03     Accounting
Terms. All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial
data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared
in conformity with, GAAP, except as otherwise specifically prescribed herein. Unless the context indicates otherwise, any reference to
a “fiscal year” or a “fiscal quarter” shall refer to a fiscal year ending December 31 or fiscal quarter
ending March 31, June 30, September 30 or December 31 of the Borrower. 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, without giving effect to any election under Financial Accounting Standards Board Accounting Standards Codification
825 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of
Holdings, the Borrower or any of its Subsidiaries at “fair value,” as defined therein.

 

SECTION 1.04     Rounding.
Any financial ratios required to be satisfied in order for a specific action to be permitted under this Agreement shall be calculated
by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which
such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number).

 

SECTION 1.05     References
to Agreements, Laws, etc. Unless otherwise expressly provided herein, (1) references to Organizational Documents, agreements
(including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements,
extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements
and other modifications are not prohibited by any Loan Document; and (2) references to any Law shall include all statutory and regulatory
provisions consolidating, amending, replacing, supplementing or interpreting such Law.

 

SECTION 1.06     Times
of Day and Timing of Payment and Performance. Unless otherwise specified, (1) all references herein to times of day shall be
references to New York time (daylight or standard, as applicable) and (2) when the payment of any obligation or the performance
of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such
payment (other than as described in the definition of “Interest Period”) or performance shall extend to the immediately succeeding
Business Day.

 

SECTION 1.07     Pro
Forma and Other Calculations.

 

(1)            Notwithstanding
anything to the contrary herein, financial ratios and tests, including the Secured Net Leverage Ratio, the Total Net Leverage Ratio and
the Fixed Charge Coverage Ratio shall be calculated in the manner prescribed by this Section 1.07; provided that notwithstanding
anything to the contrary in clauses (2), (3), (4) or (5) of this Section 1.07, when calculating the Secured Net Leverage
Ratio for purposes of (a) the definition of “Applicable Rate,” (b) Section 2.05(2)(a) and (c) the
Financial Covenant (other than for the purpose of determining pro forma compliance with the Financial Covenant), the events described
in this Section 1.07 that occurred subsequent to the end of the applicable Test Period shall not be given pro forma effect;
provided however that voluntary prepayments made pursuant to Section 2.05(1) during any fiscal year (without duplication
of any prepayments in such fiscal year that reduced the amount of Excess Cash Flow required to be repaid pursuant to Section 2.05(2)(a) for
any prior fiscal year) shall be given pro forma effect after such fiscal year-end and prior to the time any mandatory prepayment
pursuant to Section 2.05(2)(a) is due for purposes of calculating the Secured Net Leverage Ratio for purposes of determining
the ECF Percentage for such mandatory prepayment, if any. In addition, whenever a financial ratio or test is to be calculated on a pro
forma basis, the reference to “Test Period” for purposes of calculating such financial ratio or test shall be deemed
to be a reference to, and shall be based on, the most recently ended Test Period for which internal financial statements of the Borrower
are available (as determined in good faith by the Borrower) (it being understood that for purposes of (x) determining pro forma
compliance with the Financial Covenant, if no Test Period with an applicable level cited in the Financial Covenant has passed, the
applicable level shall be the level for the first Test Period cited in the Financial Covenant with an indicated level and (y) determining
actual compliance (and not pro forma compliance) with the Financial Covenant, the reference to “Test Period” shall
be deemed to be a reference to, and shall be based on, the most recently ended Test Period for which financial statements have been or
are required to be delivered pursuant to Section 6.01(1) or (2)).

 

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(2)            For
purposes of calculating any financial ratio or test (or Consolidated EBITDA or Total Assets), Specified Transactions (and, subject to
clause (4) below, the incurrence or repayment of any Indebtedness in connection therewith) that have been made (a) during the
applicable Test Period or (b) subsequent to such Test Period and prior to or simultaneously with the event for which the calculation
of any such ratio is made shall be calculated on a pro forma basis assuming that all such Specified Transactions (and any increase
or decrease in Consolidated EBITDA and the component financial definitions used therein attributable to any Specified Transaction) had
occurred on the first day of the applicable Test Period (or, in the case of Total Assets, on the last day of the applicable Test Period).
If since the beginning of any applicable Test Period any Person that subsequently became a Restricted Subsidiary or was merged, amalgamated
or consolidated with or into the Borrower or any Restricted Subsidiary since the beginning of such Test Period shall have made any Specified
Transaction that would have required adjustment pursuant to this Section 1.07, then such financial ratio or test (or Consolidated
EBITDA or Total Assets) shall be calculated to give pro forma effect thereto in accordance with this Section 1.07.

 

(3)            Whenever
pro forma effect is to be given to a Specified Transaction, the pro forma calculations shall be made in good faith by a
Financial Officer of the Borrower and may include, for the avoidance of doubt, the amount of “run-rate” cost savings, operating
expense reductions and cost synergies projected by the Borrower in good faith to result from or relating to any Specified Transaction
(including the Transactions and, for the avoidance of doubt, acquisitions and dispositions occurring prior to the Closing Date) which
is being given pro forma effect that have been realized or are expected to be realized and for which the actions necessary to
realize such cost savings, operating expense reductions and cost synergies are taken, committed to be taken or with respect to which
substantial steps have been taken or are expected to be taken (in the good faith determination of the Borrower) (calculated on a pro
forma basis as though such cost savings, operating expense reductions and cost synergies had been realized on the first day of such
period and as if such cost savings, operating expense reductions and cost synergies were realized during the entirety of such period
and “run-rate” means the full recurring benefit for a period that is associated with any action taken, committed to be taken
or with respect to which substantial steps have been taken or are expected to be taken (including any savings expected to result from
the elimination of a public target’s compliance costs with public company requirements), whether prior to or following the Closing
Date, net of the amount of actual benefits realized during such period from such actions, and any such adjustments shall be included
in the initial pro forma calculations of such financial ratios or tests and during any subsequent Test Period in which the effects
thereof are expected to be realized) relating to such Specified Transaction; provided that (a) such amounts are reasonably
identifiable and factually supportable in the good faith judgment of the Borrower, (b) such actions are taken, committed to be taken
or with respect to which substantial steps have been taken or are expected to be taken no later than thirty-six (36) months after
the date of such Specified Transaction (or actions undertaken or implemented prior to the consummation of such Specified Transaction
and (c) no amounts shall be added to the extent duplicative of any amounts that are otherwise added back in computing Consolidated
EBITDA (or any other components thereof), whether through a pro forma adjustment or otherwise, with respect to such period; provided
further that the aggregate amount of pro forma adjustments made pursuant to this Section 1.07(3) for any Test Period and
any additions made to Consolidated EBITDA pursuant to clause (1)(o) of the definition thereof shall not exceed in the aggregate
33.0% of Consolidated EBITDA for such Test Period (calculated prior to giving effect to any adjustments pursuant to this Section 1.07(3) and
clause (1)(o) of the definition of Consolidated EBITDA).

 

(4)            In
the event that (a) the Borrower or any Restricted Subsidiary incurs (including by assumption or guarantees), issues or repays (including
by redemption, repurchase, repayment, retirement, discharge, defeasance or extinguishment) any Indebtedness (other than Indebtedness
incurred or repaid under any revolving credit facility or line of credit unless such Indebtedness has been permanently repaid and not
replaced), (b) the Borrower or any Restricted Subsidiary issues, repurchases or redeems Disqualified Stock, (c) any Restricted
Subsidiary issues, repurchases or redeems Preferred Stock or (d) the Borrower or any Restricted Subsidiary establishes or eliminates
any Designated Revolving Commitments, in each case included in the calculations of any financial ratio or test, (i) during the applicable
Test Period or (ii) subsequent to the end of the applicable Test Period and prior to or simultaneously with the event for which
the calculation of any such ratio is made, then such financial ratio or test shall be calculated giving pro forma effect to such
incurrence, issuance, repayment or redemption of Indebtedness, issuance, repurchase or redemption of Disqualified Stock or Preferred
Stock, or establishment or elimination of any Designated Revolving Commitments, in each case to the extent required, as if the same had
occurred on the last day of the applicable Test Period (except in the case of the Fixed Charge Coverage Ratio (or similar ratio), in
which case such incurrence, issuance, repayment or redemption of Indebtedness, issuance, repurchase or redemption of Disqualified Stock
or Preferred Stock, or establishment or elimination of any Designated Revolving Commitments, in each case will be given effect, as if
the same had occurred on the first day of the applicable Test Period) and, in the case of Indebtedness for all purposes as if such Indebtedness
in the full amount of any undrawn Designated Revolving Commitments had been incurred thereunder throughout such period; provided,
however, that at the election of the Borrower, the pro forma calculation will not give effect to any Indebtedness incurred
on such determination date pursuant to the provisions described in Section 7.02(c).

 

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(5)            If
any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall
be calculated as if the rate in effect on the date of the event for which the calculation of the Fixed Charge Coverage Ratio is made
had been the applicable rate for the entire period (taking into account any interest hedging arrangements applicable to such Indebtedness).
Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a Financial Officer
of the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. Interest on Indebtedness
that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered
rate, or other rate shall be determined to have been based upon the rate actually chosen, or if none, then based upon such optional rate
chosen as the Borrower or applicable Restricted Subsidiary may designate.

 

(6)            Notwithstanding
anything to the contrary in this Section 1.07 or in any classification under GAAP of any Person, business, assets or operations
in respect of which a definitive agreement for the disposition thereof has been entered into, no pro forma effect shall be given
to any discontinued operations (and the Consolidated EBITDA attributable to any such Person, business, assets or operations shall not
be excluded for any purposes hereunder) until such disposition shall have been consummated.

 

(7)            Any
determination of Total Assets shall be made by reference to the last day of the Test Period most recently ended for which internal financial
statements of the Borrower are available (as determined in good faith by the Borrower) on or prior to the relevant date of determination.

 

(8)            Notwithstanding
anything in this Agreement or any Loan Document to the contrary, when (a) calculating any applicable ratio, Consolidated Net Income
or Consolidated EBITDA in connection with the incurrence of Indebtedness, the issuance of Disqualified Stock or Preferred Stock, the
creation of Liens, the making of any Asset Sale, the making of an Investment, the making of a Restricted Payment, the designation of
a Subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary or the repayment of Indebtedness, Disqualified Stock or Preferred
Stock, (b) determining compliance with any provision of this Agreement which requires that no Default or Event of Default has occurred,
is continuing or would result therefrom (other than Section 4.02 in the case of any Credit Extension under the Revolving Facility),
(c) determining compliance with any provision of this Agreement which requires compliance with any representations and warranties
set forth herein (other than Section 4.02 in the case of any Credit Extension under the Revolving Facility), or (d) determining
the satisfaction of all other conditions precedent to the incurrence of Indebtedness, the issuance of Disqualified Stock or Preferred
Stock, the creation of Liens, the making of any Asset Sale, the making of an Investment, the making of a Restricted Payment, the designation
of a Subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary or the repayment of Indebtedness, Disqualified Stock or Preferred
Stock, in each case in connection with a Limited Condition Transaction, the date of determination of such ratio or other provisions,
determination of whether any Default or Event of Default has occurred, is continuing or would result therefrom, determination of compliance
with any representations or warranties or the satisfaction of any other conditions shall, at the option of the Borrower (the Borrower’s
election to exercise such option in connection with any Limited Condition Transaction, an “LCT Election,” which LCT
Election may be in respect of one or more of clauses (a), (b), (c) and (d) above), be deemed to be the date the definitive
agreements (or other relevant definitive documentation) for such Limited Condition Transaction are entered into (the “LCT Test
Date”). If on a pro forma basis after giving effect to such Limited Condition Transaction and the other transactions
to be entered into in connection therewith (including any incurrence or issuance of Indebtedness, Disqualified Stock or Preferred Stock,
and the use of proceeds thereof), with such ratios and other provisions calculated as if such Limited Condition Transaction or other
transactions had occurred at the beginning of the most recent Test Period ending prior to the LCT Test Date for which internal financial
statements are available, the Borrower could have taken such action on the relevant LCT Test Date in compliance with the applicable ratios
or other provisions, such provisions shall be deemed to have been complied with. For the avoidance of doubt, (i) if, following the
LCT Test Date, any of such ratios or other provisions are exceeded or breached as a result of fluctuations in such ratio (including due
to fluctuations in Consolidated EBITDA or other components of such ratio) or other provisions at or prior to the consummation of the
relevant Limited Condition Transactions, such ratios and other provisions will not be deemed to have been exceeded or failed to have
been satisfied as a result of such fluctuations solely for purposes of determining whether the Limited Condition Transaction is permitted
hereunder and (ii) such ratios and compliance with such conditions shall not be tested at the time of consummation of such Limited
Condition Transaction or related Specified Transactions, unless the Borrower elects, in its sole discretion, to test such ratios and
compliance with such conditions on the date such Limited Condition Transaction or related Specified Transactions is consummated. If the
Borrower has made an LCT Election for any Limited Condition Transaction, then in connection with any subsequent calculation of any ratio,
Basket availability or compliance with any other provision hereunder (other than actual compliance with the Financial Covenant) on or
following the relevant LCT Test Date and prior to the earliest of the date on which such Limited Condition Transaction is consummated,
the date that the definitive agreement for such Limited Condition Transaction is terminated or expires without consummation of such Limited
Condition Transaction or the date the Borrower makes an election pursuant to the immediately preceding sentence, any such ratio, Basket
or compliance with any other provision hereunder shall be calculated on a pro forma basis assuming such Limited Condition Transaction
and other transactions in connection therewith (including any incurrence or issuance of Indebtedness, Disqualified Stock or Preferred
Stock, and the use of proceeds thereof) had been consummated on the LCT Test Date; provided that for purposes of any such calculation
of the Fixed Charge Coverage Ratio, Consolidated Interest Expense will be calculated using an assumed interest rate for the Indebtedness
to be incurred in connection with such Limited Condition Transaction based on the indicative interest margin contained in any financing
commitment documentation with respect to such Indebtedness or, if no such indicative interest margin exists, as reasonably determined
by the Borrower in good faith. Notwithstanding anything in this Agreement or any Loan Document to the contrary, if the Borrower or its
Restricted Subsidiaries (x) incurs Indebtedness, issues Disqualified Stock or Preferred Stock, creates Liens, makes Asset Sales,
makes Investments, makes Restricted Payments, designates any Subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary or repays
any Indebtedness, Disqualified Stock or Preferred Stock in connection with any Limited Condition Transaction under a ratio-based Basket
and (y) incurs Indebtedness, issues Disqualified Stock or Preferred Stock, creates Liens, makes Asset Sales, Investments or
Restricted Payments, designates any Subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary or repays any Indebtedness, Disqualified
Stock or Preferred Stock in connection with such Limited Condition Transaction under a non-ratio-based Basket (which shall occur within
five Business Days of the events in clause (x) above), then the applicable ratio will be calculated with respect to any such action
under the applicable ratio-based Basket without regard to any such action under such non-ratio-based Basket made in connection with such
Limited Condition Transaction.

 

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SECTION 1.08     Available
Amount Transaction. If more than one action occurs on any given date the permissibility of the taking of which is determined hereunder
by reference to the amount specified in clause (3) of Section 7.05(a) immediately prior to the taking of such action,
the permissibility of the taking of each such action shall be determined independently and in no event may any two or more such actions
be treated as occurring simultaneously, i.e., each transaction must be permitted under clause (3) of Section 7.05(a) as
so calculated.

 

SECTION 1.09     Guaranties
of Hedging Obligations. Notwithstanding anything else to the contrary in any Loan Document, no non-Qualified ECP Guarantor shall
be required to guarantee or provide security for Excluded Swap Obligations, and any reference in any Loan Document with respect to such
non-Qualified ECP Guarantor guaranteeing or providing security for the Obligations shall be deemed to be all Obligations other than the
Excluded Swap Obligations.

 

SECTION 1.10     Currency
Generally.

 

(1)            The
Borrower shall determine in good faith the Dollar equivalent amount of any utilization or other measurement denominated in a currency
other than Dollars for purposes of compliance with any Basket. For purposes of determining compliance with any Basket under Article VII
or VIII with respect to any amount expressed in a currency other than Dollars, no Default shall be deemed to have occurred solely as
a result of changes in rates of currency exchange occurring after the time such Basket utilization occurs or other Basket measurement
is made (so long as such Basket utilization or other measurement, at the time incurred, made or acquired, was permitted hereunder). Except
with respect to any ratio calculated under any Basket, any subsequent change in rates of currency exchange with respect to any prior
utilization or other measurement of a Basket previously made in reliance on such Basket (as the same may have been reallocated in accordance
with this Agreement) shall be disregarded for purposes of determining any unutilized portion under such Basket.

 

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(2)            For
purposes of determining the Secured Net Leverage Ratio and the Total Net Leverage Ratio, the amount of Indebtedness and cash and Cash
Equivalents shall reflect the currency translation effects, determined in accordance with GAAP, of Hedging Obligations permitted hereunder
for currency exchange risks with respect to the applicable currency in effect on the date of determination of the Dollar equivalent of
such Indebtedness.

 

SECTION 1.11     Letters
of Credit. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the amount of the
stated amount of such Letter of Credit in effect at such time after giving effect to any automatic reductions to such stated amount pursuant
to the terms of the applicable Letter of Credit after the occurrence of any applicable condition (including the expiration of any applicable
period); provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuing Bank
Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit
shall be deemed to be the amount of the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether
or not such maximum stated amount is in effect at such time.

 

SECTION 1.12     Divisions.
For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable
event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset,
right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the
subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired
on the first date of its existence by the holders of its Equity Interests at such time.

 

SECTION 1.13     Interest
Rates. The Administrative Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (a) the
continuation of, administration of, submission of, calculation of or any other matter related to the Base Rate, the Term SOFR Reference
Rate, Adjusted Term SOFR or Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or any alternative,
successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of
any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value
or economic equivalence of, or have the same volume or liquidity as, the Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR,
Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition
of any Conforming Changes. The Administrative Agent and its affiliates or other related entities may engage in transactions that affect
the calculation of the Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR, any alternative, successor or replacement
rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The
Administrative Agent may select information sources or services in its reasonable discretion to ascertain the Base Rate, the Term SOFR
Reference Rate, Term SOFR, Adjusted Term SOFR or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall
have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special,
punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or
in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.

 

Article II

 

The Commitments and Borrowings

 

SECTION 2.01     The
Loans.

 

(1)            Term
Borrowings. (i) Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a term loan
to the Borrower denominated in Dollars (a “Term B Loan”) on the Closing Date in a principal amount equal to its Term
Commitment. The Borrower may make only one borrowing under the initial Term Commitments, which shall be on the Closing Date. Any amount
borrowed under this Section 2.1(1) and subsequently repaid or prepaid may not be reborrowed.

 

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(2)            Revolving
Borrowings. Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans denominated
in Dollars from its applicable Lending Office (each such loan, a “Revolving Loan”) to the Borrower from time to time,
on any Business Day during the period from the Closing Date until the Maturity Date of the Revolving Facility, in an aggregate principal
amount not to exceed at any time outstanding the amount of such Lender’s Revolving Commitment; provided that after giving
effect to any Revolving Borrowing, the aggregate Outstanding Amount of the Revolving Loans of any Lender plus such Lender’s Applicable
Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s Revolving Commitment. Within the limits
of each Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this
Section 2.01(2), prepay under Section 2.05 and reborrow under this Section 2.01(2). Revolving Loans may be Base Rate Loans
or SOFR Loans, as further provided herein.

 

SECTION 2.02     Borrowings,
Conversions and Continuations of Loans.

 

(1)            Each
Term Borrowing, each Revolving Borrowing, each conversion of Term Loans or Revolving Loans from one Type to the other, and each continuation
of SOFR Loans shall be made upon the Borrower’s irrevocable notice, on behalf of the Borrower, to the Administrative Agent (provided
that the notice in respect of the initial Credit Extension, or in connection with any Permitted Acquisition or other transaction
permitted under this Agreement, may be conditioned on the closing of the Acquisitions or such Permitted Acquisition or other transaction,
as applicable), which may be given by: (A) telephone or (B) a Committed Loan Notice; provided that any telephonic notice
by the Borrower must be confirmed immediately by delivery to the Administrative Agent of a Committed Loan Notice. Each such notice must
be received by the Administrative Agent not later than (a) 1:00 p.m., New York time, three (3) U.S. Government Securities Business
Days prior to the requested date of any Borrowing or continuation of SOFR Loans or any conversion of Base Rate Loans to SOFR Loans and
(b) 1:00 p.m., New York time, on the requested date of any Borrowing of Base Rate Loans or any conversion of SOFR Loans to Base
Rate Loans; provided that the notice referred to in subclause (a) above may be delivered not later than 1:00 p.m., New
York time, one (1) Business Day prior to the Closing Date (or such shorter period as may be acceptable to Administrative Agent)
in the case of the Closing Date Loans funded on the Closing Date. Each telephonic notice by the Borrower pursuant to this Section 2.02(1) must
be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and signed
by a Responsible Officer of the Borrower. Except as provided in Sections 2.14, 2.15 and 2.16, each Borrowing of, conversion to or continuation
of SOFR Loans shall be in a principal amount of $1.0 million or a whole multiple amount of $250,000 in excess thereof. Except as provided
in Sections 2.03(3), 2.14, 2.15 and 2.16, each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1.0 million
or a whole multiple amount of $250,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify

 

(i)             whether
the Borrower is requesting a Term Borrowing, a Revolving Borrowing, a conversion of Term Loans or Revolving Loans from one Type to the
other or a continuation of SOFR Loans,

 

(ii)            the
requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day),

 

(iii)           the
principal amount of Loans to be borrowed, converted or continued,

 

(iv)           the
Class and Type of Loans to be borrowed or to which existing Term Loans or Revolving Loans are to be converted,

 

(v)            if
applicable, the duration of the Interest Period with respect thereto and

 

(vi)           wire
instructions of the account(s) to which funds are to be disbursed.

 

If the Borrower fails to specify a Type of Loan
to be made in a Committed Loan Notice, then the applicable Loans shall be made as Base Rate Loans. If the Borrower fails to give a timely
notice requesting a conversion or continuation, then the applicable Loans shall be made or converted into a Base Rate Loan. Any such
automatic continuation of SOFR Loans shall be effective as of the last day of the Interest Period then in effect with respect to the
applicable SOFR Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of SOFR Loans in any such Committed Loan
Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month.

 

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(2)            Following
receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Pro Rata Share or
other applicable share provided for under this Agreement of the applicable Class of Loans, and if no timely notice of a conversion
or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic continuation
of SOFR Loans or continuation of Loans described in Section 2.02(1). In the case of each Borrowing, each Appropriate Lender shall
make the amount of its Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office not later
than, in the case of Borrowing on the Closing Date, 10:00 a.m., New York time, and otherwise 3:00 p.m., New York time, on the Business
Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4 for
any Borrowing, the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative
Agent either by (a) crediting the account(s) of the Borrower on the books of the Administrative Agent with the amount of such
funds or (b) wire transfer of such funds, in each case in accordance with instructions provided by the Borrower to (and reasonably
acceptable to) the Administrative Agent; provided that if on the date the Committed Loan Notice with respect to a Borrowing under
a Revolving Facility is given by the Borrower (other than with respect to the Closing Date Revolving Borrowing), there are L/C Borrowings
outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such L/C Borrowing and second,
to the Borrower as provided above.

 

(3)            Except
as otherwise provided herein, a SOFR Loan may be continued or converted only on the last day of an Interest Period for such SOFR Loan,
unless the Borrower pays the amount due, if any, under Section 3.05 in connection therewith. Upon the occurrence and during the
continuation of an Event of Default, the Administrative Agent at the direction of the Required Facility Lenders under the applicable
Facility may require by notice to the Borrower that no Loans under such Facility may be converted to or continued as SOFR Loans.

 

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

 

(5)            After
giving effect to all Term Borrowings, all Revolving Borrowings, all conversions of Term Loans or Revolving Loans from one Type to the
other, and all continuations of Term Loans or Revolving Loans as the same Type, there shall not be more than ten (10) Interest Periods
in effect unless otherwise agreed between the Borrower and the Administrative Agent.

 

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

 

(7)            Unless
the Administrative Agent shall have received notice from a Lender prior to the date of any Borrowing, or, in the case of any Borrowing
of Base Rate Loans, prior to 1:30 p.m., New York time, on the date of such Borrowing, that such Lender will not make available to the
Administrative Agent such Lender’s Pro Rata Share or other applicable share provided for under this Agreement of such Borrowing,
the Administrative Agent may assume that such Lender has made such Pro Rata Share and such other applicable share available to the Administrative
Agent on the date of such Borrowing in accordance with paragraph (2) above, and the Administrative Agent may, in reliance upon such
assumption, make available to the Borrower on such date a corresponding amount. If the Administrative Agent shall have so made funds
available, then, to the extent that such Lender shall not have made such portion available to the Administrative Agent, each of such
Lender and the Borrower severally agrees to repay to the Administrative Agent forthwith on demand such corresponding amount together
with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid
to the Administrative Agent at (a) in the case of the Borrower, the interest rate applicable at the time to the Loans comprising
such Borrowing and (b) in the case of such Lender, the Overnight Rate plus any administrative, processing or similar fees
customarily charged by the Administrative Agent in accordance with the foregoing. A certificate of the Administrative Agent submitted
to any Lender with respect to any amounts owing under this Section 2.02(7) shall be conclusive in the absence of manifest error.
If the Borrower and such Lender shall both pay all or any portion of the principal amount in respect of such Borrowing or 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 Borrowing or interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the
Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the
Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to
the Administrative Agent.

 

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SECTION 2.03     Letters
of Credit.

 

(1)           The
Letter of Credit Commitments.

 

(a)           Subject
to the terms and conditions set forth herein, (i) each Issuing Bank agrees, in reliance upon the agreements of the other Revolving
Lenders set forth in this Section 2.03, (A) from time to time on any Business Day during the period from the Closing Date until
the L/C Expiration Date, to issue Letters of Credit denominated in Dollars for the account of the Borrower, Holdings or a Restricted Subsidiary
(provided that any such Letter of Credit may be for the benefit of Holdings or any Subsidiary of the Borrower) and to amend or
renew Letters of Credit previously issued by it, in accordance with Section 2.03(2), and (B) to honor drawings under the Letters
of Credit and (ii) the Revolving Lenders severally agree to participate in Letters of Credit issued pursuant to this Section 2.03;
provided that no Issuing Bank shall be obligated to make any L/C Credit Extension with respect to any Letter of Credit, and no
Lender shall be obligated to participate in any Letter of Credit if as of the date of such L/C Credit Extension, (x) the Revolving
Exposure of any Revolving Lender would exceed such Lender’s Revolving Commitment, (y) the Outstanding Amount of the L/C Obligations
would exceed the L/C Sublimit or (z) the Outstanding Amount of the L/C Obligations issued by such Issuing Bank would exceed its L/C
Commitment. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters
of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace
Letters of Credit that have expired or that have been drawn upon and reimbursed.

 

(b)           An
Issuing Bank shall be under no obligation to issue any Letter of Credit if:

 

(i)           any
order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing Bank
from issuing such Letter of Credit, or any Law applicable to such Issuing Bank or any directive (whether or not having the force of law)
from any Governmental Authority with jurisdiction over such Issuing Bank shall prohibit, or direct that such Issuing Bank refrain from,
the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such Issuing Bank with respect
to such Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Bank is not otherwise compensated hereunder)
not in effect on the Closing Date, or shall impose upon such Issuing Bank any unreimbursed loss, cost or expense which was not applicable
on the Closing Date (for which such Issuing Bank is not otherwise compensated hereunder);

 

(ii)           subject
to Section 2.03(2)(c), the expiry date of such requested Letter of Credit would occur more than twelve months after the date of issuance
or last renewal, unless (A) each Appropriate Lender has approved of such expiration date or (B) the Outstanding Amount of L/C
Obligations in respect of such requested Letter of Credit has been Cash Collateralized or back-stopped by a letter of credit reasonably
satisfactory to the applicable Issuing Bank;

 

(iii)           the
expiry date of such requested Letter of Credit would occur after the L/C Expiration Date, unless (A) each Appropriate Lender has
approved of such expiration date or (B) the Outstanding Amount of L/C Obligations in respect of such requested Letter of Credit has
been Cash Collateralized or back-stopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank;

 

(iv)           the
issuance of such Letter of Credit would violate any policies of such Issuing Bank applicable to letters of credit generally; or

 

    	 	95	 

     

    

 

(v)           any
Revolving Lender is at that time a Defaulting Lender, unless such Issuing Bank has entered into arrangements, including the delivery of
Cash Collateral, satisfactory to such Issuing Bank (in its sole discretion) with the Borrower or such Lender to eliminate such Issuing
Bank’s actual or potential Fronting Exposure (after giving effect to Section 2.17(1)(d)) with respect to the Defaulting Lender
arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which
such Issuing Bank has actual or potential Fronting Exposure, as it may elect in its sole discretion.

 

(c)           An
Issuing Bank shall be under no obligation to amend any Letter of Credit if (i) such Issuing Bank would have no obligation at such
time to issue such Letter of Credit in its amended form under the terms hereof or (ii) the beneficiary of such Letter of Credit does
not accept the proposed amendment to such Letter of Credit.

 

(2)           Procedures
for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit.

 

(a)           Each
Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to an Issuing Bank (with a
copy to the Administrative Agent) in the form of a L/C Application, appropriately completed and signed by a Responsible Officer of the
Borrower. Such L/C Application must be received by the relevant Issuing Bank and the Administrative Agent not later than 1:00 p.m., New
York time, at least two (2) Business Days prior to the proposed issuance date or date of amendment, as the case may be, or, in each
case, such later date and time as the relevant Issuing Bank may agree in a particular instance in its sole discretion. In the case of
a request for an initial issuance of a Letter of Credit, such L/C Application shall specify in form and detail reasonably satisfactory
to the relevant Issuing Bank:

 

(i)            the
proposed issuance date of the requested Letter of Credit (which shall be a Business Day);

 

(ii)           the
amount thereof;

 

(iii)          the
expiry date thereof;

 

(iv)          the
name and address of the beneficiary thereof;

 

(v)           the
documents to be presented by such beneficiary in case of any drawing thereunder;

 

(vi)          the
full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and

 

(vii)         such
other matters as the relevant Issuing Bank may reasonably request.

 

In the case of a request for an amendment of any
outstanding Letter of Credit, such L/C Application shall specify in form and detail reasonably satisfactory to the relevant Issuing Bank:

 

(A)           the
Letter of Credit to be amended;

 

(B)           the
proposed date of amendment thereof (which shall be a Business Day);

 

(C)           the
nature of the proposed amendment; and

 

(D)           such
other matters as the relevant Issuing Bank may reasonably request.

 

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(b)           Promptly
after receipt of any L/C Application, the relevant Issuing Bank will confirm with the Administrative Agent (by telephone or in writing)
that the Administrative Agent has received a copy of such L/C Application from the Borrower and, if not, such Issuing Bank will provide
the Administrative Agent with a copy thereof. Upon receipt by the relevant Issuing Bank of confirmation from the Administrative Agent
that the requested issuance or amendment is permitted in accordance with the terms hereof, then, subject to the terms and conditions hereof,
such Issuing Bank shall, on the requested date, issue a Letter of Credit for the account of the Borrower (or, if applicable, for the benefit
of Holdings or Subsidiary of the Borrower) or enter into the applicable amendment, as the case may be. Immediately upon the issuance of
each Letter of Credit, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the
relevant Issuing Bank a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Applicable
Percentage of the amount of such Letter of Credit.

 

(c)           If
the Borrower so requests in any applicable L/C Application, the relevant Issuing Bank shall agree to issue a Letter of Credit that has
automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension
Letter of Credit must permit the relevant Issuing Bank to prevent any such extension at least once in each twelve-month period (commencing
with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension
Notice Date”) in each such twelve-month period to be agreed upon by the relevant Issuing Bank and the Borrower at the time such
Letter of Credit is issued. Unless otherwise agreed in such Letter of Credit, the Borrower shall not be required to make a specific request
to the relevant Issuing Bank for any such extension. Once an Auto-Extension Letter of Credit has been issued, the applicable Lenders shall
be deemed to have authorized (but may not require) the relevant Issuing Bank to permit the extension of such Letter of Credit at any time
to an expiry date not later than the applicable L/C Expiration Date, unless the Outstanding Amount of L/C Obligations in respect of such
requested Letter of Credit has been Cash Collateralized or back-stopped by a letter of credit reasonably satisfactory to the applicable
Issuing Bank; provided that the relevant Issuing Bank shall not permit any such extension if (i) the relevant Issuing Bank
has determined that it would have no obligation at such time to issue such Letter of Credit in its extended form under the terms hereof
(by reason of the provisions of Section 2.03(1)(b) or otherwise) or (ii) it has received notice (which may be by telephone
or in writing) on or before the day that is seven (7) Business Days before the Non-Extension Notice Date from the Administrative
Agent, any Revolving Lender or the Borrower that one or more of the applicable conditions specified in Section 4.02 will not be satisfied
on the applicable date of the Credit Extension.

 

(d)           Promptly
after issuance of any Letter of Credit or any amendment to a Letter of Credit, the relevant Issuing Bank will also deliver to the Borrower
and the Administrative Agent a true and complete copy of such Letter of Credit or amendment.

 

(3)           Drawings
and Reimbursements; Funding of Participations.

 

(a)           Upon
receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the relevant Issuing Bank
shall promptly notify the Borrower and the Administrative Agent thereof (including the date on which such payment is to be made). Not
later than 12:00 p.m. on the first Business Day immediately following any payment by an Issuing Bank under a Letter of Credit with
notice to the Borrower (each such date, an “Honor Date”), the Borrower shall reimburse, or cause to be reimbursed,
such Issuing Bank, in each case, through the Administrative Agent in an amount equal to the amount of such drawing; provided that,
if such reimbursement is not made on the date of drawing, the Borrower shall pay interest to the relevant Issuing Bank on such amount
at the rate applicable to Base Rate Loans (without duplication of interest payable on L/C Borrowings). The relevant Issuing Bank shall
notify the Borrower of the amount of the drawing promptly following the determination thereof. If the Borrower fails to so reimburse,
or cause to be reimbursed, such Issuing Bank by such time, the Administrative Agent shall promptly notify each Appropriate Lender of the
Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Appropriate
Lender’s Applicable Percentage thereof. In such event, in the case of an Unreimbursed Amount under a Letter of Credit, the Borrower
shall be deemed to have requested a Revolving Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the
Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate
Loans but subject to the requirements for the amount of the unutilized portion of the Revolving Commitments under the applicable Revolving
Facility of the Appropriate Lenders and the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice).
Any notice given by an Issuing Bank or the Administrative Agent pursuant to this Section 2.03(3)(a) may be given by telephone
if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness
or binding effect of such notice.

 

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(b)           Each
Appropriate Lender (including any Lender acting as an Issuing Bank) shall upon any notice pursuant to Section 2.03(3)(a) make
funds available to the Administrative Agent for the account of the relevant Issuing Bank in Dollars at the Administrative Agent’s
Office for payments in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business
Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(3)(c), each Appropriate
Lender that so makes funds available shall be deemed to have made a Revolving Loan that is a Base Rate Loan to the Borrower in such amount
and, for the avoidance of doubt, the making of such Base Rate Loans in an aggregate amount equal to such Unreimbursed Amount shall satisfy
the Borrower’s reimbursement obligations with respect thereof. The Administrative Agent shall remit the funds so received to the
relevant Issuing Bank.

 

(c)           With
respect to any Unreimbursed Amount that is not fully refinanced by a Revolving Borrowing of Base Rate Loans because the conditions set
forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the relevant
Issuing Bank an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and
payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Appropriate Lender’s
payment to the Administrative Agent for the account of the relevant Issuing Bank pursuant to Section 2.03(3)(b) shall be deemed
payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of
its participation obligation under this Section 2.03.

 

(d)          Until
each Appropriate Lender funds its Revolving Loan or L/C Advance pursuant to this Section 2.03(3) to reimburse the relevant Issuing
Bank for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such amount
shall be solely for the account of the relevant Issuing Bank.

 

(e)           Each
Revolving Lender’s obligation to make Revolving Loans or L/C Advances to reimburse an Issuing Bank for amounts drawn under Letters
of Credit, as contemplated by this Section 2.03(3), 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 Lender may have against the relevant Issuing Bank, the Borrower or
any other Person for any reason whatsoever;

 

(ii)          the
occurrence or continuance of a Default; or

 

(iii)         any
other occurrence, event or condition, whether or not similar to any of the foregoing;

 

provided
that each Revolving Lender’s obligation to make Revolving Loans pursuant to this Section 2.03(3) is subject
to the conditions set forth in Section 4.02 (other than delivery by the Borrower of a Committed Loan Notice). No such making of an
L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the relevant Issuing Bank for the amount of
any payment made by such Issuing Bank under any Letter of Credit, together with interest as provided herein.

 

(f)           If
any Revolving Lender fails to make available to the Administrative Agent for the account of the relevant Issuing Bank any amount required
to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(3) by the time specified in Section 2.03(3)(b),
such Issuing Bank shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with
interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such
Issuing Bank at a rate per annum equal to the Overnight Rate from time to time in effect. A certificate of the relevant Issuing Bank submitted
to any Revolving Lender (through the Administrative Agent) with respect to any amounts owing under this Section 2.03(3)(f) shall
be conclusive absent manifest error.

 

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(4)           Repayment
of Participations.

 

(a)           If,
at any time after an Issuing Bank has made a payment under any Letter of Credit and has received from any Revolving Lender such Lender’s
L/C Advance in respect of such payment in accordance with Section 2.03(3), the Administrative Agent receives for the account of such
Issuing Bank any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise,
including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender
its Applicable Percentage thereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which
such Lender’s L/C Advance was outstanding) in the amount received by the Administrative Agent.

 

(b)           If
any payment received by the Administrative Agent for the account of an Issuing Bank pursuant to Section 2.03(3)(a) or Section 2.03(3)(b) is
required to be returned under any of the circumstances described in Section 10.06 (including pursuant to any settlement entered into
by such Issuing Bank in its discretion), each Appropriate Lender shall pay to the Administrative Agent for the account of such Issuing
Bank its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand
to the date such amount is returned by such Lender, at a rate per annum equal to the Overnight Rate from time to time in effect. The Obligations
of the Revolving Lenders under this Section 2.03(4)(b) shall survive the payment in full of the Obligations and the termination
of this Agreement.

 

(5)           Obligations
Absolute. The obligation of the Borrower to reimburse the relevant Issuing Bank for each drawing under each Letter of Credit issued
by it and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with
the terms of this Agreement under all circumstances, including the following:

 

(a)           any
lack of validity or enforceability of such Letter of Credit, this Agreement, or any other agreement or instrument relating thereto;

 

(b)           the
existence of any claim, counterclaim, setoff, defense or other right that any Loan Party may have at any time against any beneficiary
or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the relevant
Issuing Bank or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of
Credit or any agreement or instrument relating thereto, or any unrelated transaction;

 

(c)           any
draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient
in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise
of any document required in order to make a drawing under such Letter of Credit;

 

(d)           any
payment by the relevant Issuing Bank under such Letter of Credit against presentation of a draft or certificate that does not strictly
comply with the terms of such Letter of Credit; or any payment made by the relevant Issuing Bank under such Letter of Credit to any Person
purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative
of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding
under any Debtor Relief Law;

 

(e)           any
exchange, release or non-perfection of any Collateral, or any release or amendment or waiver of or consent to departure from the Guaranty
or any other guarantee, for all or any of the Obligations of any Loan Party in respect of such Letter of Credit; or

 

(f)           any
other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might
otherwise constitute a defense available to, or a discharge of, any Loan Party;

 

provided
that the foregoing shall not excuse any Issuing Bank from liability to the Borrower to the extent of any direct damages (as
opposed to consequential damages, claims in respect of which are waived by the Borrower to the extent permitted by applicable Law) suffered
by the Borrower that are caused by acts or omissions by such Issuing Bank constituting gross negligence, bad faith or willful misconduct
on the part of such Issuing Bank as determined in a final and non-appealable judgment by a court of competent jurisdiction.

 

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(6)           Role
of Issuing Banks. Each Issuing Bank shall be entitled to rely upon, and shall be fully protected in relying upon, any note, writing,
resolution, notice, statement, certificate or facsimile message, order or other document or telephone message signed, sent or made by
any Person that such Issuing Bank reasonably believed to be genuine and correct and to have been signed, sent or made by the proper Person,
and, with respect to all legal matters pertaining to this Agreement and any other Loan Document and its duties hereunder and thereunder,
upon advice of counsel selected by such Issuing Bank (which may include, at the Issuing Bank’s option, counsel of the Administrative
Agent or the Borrower). Each Lender and the Borrower agrees that, in paying any drawing under a Letter of Credit, the relevant Issuing
Bank shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required
by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person
executing or delivering any such document. None of the Issuing Banks, any Related Person of such Issuing Banks, nor any of the respective
correspondents, participants or assignees of any Issuing Bank shall be liable to any Lender for

 

(a)           any
action taken or omitted in connection herewith at the request or with the approval of the Lenders, the Required Lenders or the Required
Facility Lenders in respect of the Revolving Commitments, as applicable;

 

(b)           any
action taken or omitted in the absence of gross negligence, bad faith or willful misconduct as determined in a final and non-appealable
judgment by a court of competent jurisdiction; or

 

(c)           the
due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or L/C Application.

 

The Borrower hereby assumes all risks of the acts
or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided that this assumption is
not intended to, and shall not, preclude the Borrower from pursuing such rights and remedies as it may have against the beneficiary or
transferee at law or under any other agreement. None of the Issuing Banks, any Related Persons of such Issuing Banks, nor any of the respective
correspondents, participants or assignees of any Issuing Bank, shall be liable or responsible for any of the matters described in clauses
(a) through (f) of Section 2.03(5); provided that anything in such clauses to the contrary notwithstanding, the
Borrower may have a claim against an Issuing Bank, and such Issuing Bank may be liable to the Borrower, to the extent, but only to the
extent, of any direct, as opposed to consequential, damages suffered by the Borrower which the Borrower proves were caused by such Issuing
Bank’s willful misconduct, bad faith or gross negligence or such Issuing Bank’s willful or grossly negligent, or bad faith,
failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly
complying with the terms and conditions of a Letter of Credit in each case as determined in a final and non-appealable judgment by a court
of competent jurisdiction. In furtherance and not in limitation of the foregoing, each Issuing Bank may accept documents that appear on
their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary,
and no Issuing Bank shall be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to
transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to
be invalid or ineffective for any reason.

 

Each
Revolving Lender shall, ratably in accordance with its Applicable Percentage, indemnify each Issuing Bank, its Related Persons and their
respective directors, officers, agents and employees (to the extent not reimbursed by the Borrower) against any cost, expense (including
reasonable counsel fees and disbursements), claim, demand, action, loss or liability (except such as result from such indemnitees’
willful misconduct, bad faith or gross negligence or such Issuing Bank’s willful or grossly negligent, or bad faith, failure
to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying
with the terms and conditions of a Letter of Credit in each case as determined in a final and non-appealable judgment by a court of competent
jurisdiction) that such indemnitees may suffer or incur in connection with this Section 2.03 or any action taken or omitted to be
taken by such indemnitees hereunder.

 

(7)           Cash
Collateral. Subject to Section 2.17(1)(d), if,

 

(a)           as
of any L/C Expiration Date, any applicable Letter of Credit may for any reason remain outstanding and partially or wholly undrawn,

 

    	 	100	 

     

    

 

(b)           any
Event of Default occurs and is continuing and the Administrative Agent, upon the direction of the Required Facility Lenders in respect
of the Revolving Facility, requires the Borrower to Cash Collateralize the L/C Obligations pursuant to Section 8.02 or

 

(c)           an
Event of Default set forth under Section 8.01(6) occurs and is continuing,

 

the Borrower will Cash Collateralize, or cause to be Cash Collateralized,
the then Outstanding Amount of all relevant L/C Obligations (in an amount equal to such Outstanding Amount determined as of the date of
such Event of Default or the applicable L/C Expiration Date, as the case may be), and shall do so not later than 2:00 p.m. on (i) in
the case of the immediately preceding clauses (a) or (b), (x) the Business Day that the Borrower receives notice thereof, if
such notice is received on such day prior to 12:00 p.m. or (y) if clause (x) above does not apply, the Business Day
immediately following the day that the Borrower receives such notice and (ii) in the case of the immediately preceding clause (c),
the Business Day on which an Event of Default set forth under Section 8.01(6) occurs or, if such day is not a Business Day,
the Business Day immediately succeeding such day. At any time that there shall exist a Defaulting Lender, immediately upon the request
of the Administrative Agent or the applicable Issuing Bank, the Borrower will Cash Collateralize all Fronting Exposure (after giving effect
to Section 2.17(1)(d) and any Cash Collateral provided by the Defaulting Lender). The Borrower hereby grants to the Administrative
Agent, for the benefit of the Issuing Banks and the Revolving Lenders, a security interest in all such Cash Collateral. Cash Collateral
shall be maintained in blocked accounts at the Administrative Agent and may be invested in readily available Cash Equivalents selected
by the Administrative Agent in its sole discretion. If at any time the Administrative Agent determines that any funds held as Cash Collateral
are expressly subject to any right or claim of any Person other than the Loan Parties or the Administrative Agent (in its capacity as
the depository bank and on behalf of the Secured Parties) or that the total amount of such funds is less than the aggregate Outstanding
Amount of all relevant L/C Obligations, the Borrower will, forthwith upon demand by the Administrative Agent, pay, or cause to be paid,
to the Administrative Agent, as additional funds to be deposited and held in the deposit accounts at the Administrative Agent as aforesaid,
an amount equal to the excess of (A) such aggregate Outstanding Amount over (B) the total amount of funds, if any, then held
as Cash Collateral that the Administrative Agent reasonably determines to be free and clear of any such right and claim. Upon the drawing
of any Letter of Credit for which funds are on deposit as Cash Collateral, such funds shall be applied, to the extent permitted under
applicable Law, to reimburse the relevant Issuing Bank. To the extent the amount of any Cash Collateral exceeds the then Outstanding Amount
of such relevant L/C Obligations and so long as no Event of Default has occurred and is continuing, the excess shall promptly be refunded
to the Borrower. To the extent any Event of Default giving rise to the requirement to Cash Collateralize any Letter of Credit pursuant
to this Section 2.03(7) is cured or otherwise waived, then so long as no other Event of Default has occurred and is continuing,
the amount of any Cash Collateral pledged to Cash Collateralize such Letter of Credit shall promptly be refunded to the Borrower.

 

(8)           [Reserved].

 

(9)           Letter
of Credit Fees. The Borrower shall pay to the Administrative Agent, for the account of each Revolving Lender for the applicable Revolving
Facility in accordance with its Applicable Percentage, a Letter of Credit fee for each Letter of Credit issued pursuant to this Agreement
equal to the Applicable Rate set forth in the “SOFR and Letter of Credit Fees” column of the chart in the definition of “Applicable
Rate” times the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount
is then in effect under such Letter of Credit if such maximum amount decreases or increases periodically pursuant to the terms of such
Letter of Credit); provided, however, that any Letter of Credit fees otherwise payable for the account of a Defaulting Lender
with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the applicable
Issuing Bank pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders
in accordance with the upward adjustments in their respective Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(1)(d),
with the balance of such fee, if any, payable to the applicable Issuing Bank for its own account. Such Letter of Credit fees shall be
computed on a quarterly basis in arrears on the basis of a 360-day year and actual days elapsed. Such Letter of Credit fees shall be due
and payable on the last Business Day of each March, June, September and December, commencing with the first such date to occur after
the issuance of such Letter of Credit, on the L/C Expiration Date and thereafter on demand. If there is any change in the Applicable Rate
set forth in the “SOFR and Letter of Credit Fees” column of the chart in the definition of “Applicable Rate” during
any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for
each period during such quarter that such Applicable Rate was in effect.

 

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(10)           Fronting
Fee and Documentary and Processing Charges Payable to Issuing Banks. The Borrower shall pay directly to each Issuing Bank for its
own account a fronting fee with respect to each Letter of Credit issued by such Issuing Bank equal to 0.25% per annum (or such other lower
amount as may be mutually agreed by the Borrower and the applicable Issuing Bank) of the maximum amount then available to be drawn under
such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases
or decreases periodically pursuant to the terms of such Letter of Credit) or such lesser fee as may be agreed with such Issuing Bank.
Such fronting fees shall be computed on a quarterly basis in arrears on the basis of a 360-day year and actual days elapsed. Such fronting
fees shall be due and payable on the last Business Day of each March, June, September and December, commencing with the first such
date to occur after the issuance of such Letter of Credit, on the L/C Expiration Date and thereafter on demand. In addition, the Borrower
shall pay, or cause to be paid, directly to each Issuing Bank for its own account with respect to each Letter of Credit issued by such
Issuing Bank the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such
Issuing Bank relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due
and payable within ten (10) Business Days of demand and are nonrefundable.

 

(11)           Conflict
with L/C Application. Notwithstanding anything else to the contrary in this Agreement or any L/C Application, in the event of any
conflict between the terms hereof and the terms of any L/C Application, the terms hereof shall control.

 

(12)           Addition
of an Issuing Bank. There may be one or more Issuing Banks under this Agreement from time to time. After the Closing Date, a Revolving
Lender reasonably acceptable to the Borrower and the Administrative Agent may become an additional Issuing Bank hereunder pursuant to
a written agreement among the Borrower, the Administrative Agent and such Revolving Lender. The Administrative Agent shall notify the
Revolving Lenders of any such additional Issuing Bank.

 

(13)           Provisions
Related to Extended Revolving Commitments. If the L/C Expiration Date in respect of any Class of Revolving Commitments occurs
prior to the expiry date of any Letter of Credit, then (a) if consented to by the Issuing Bank which issued such Letter of Credit,
if one or more other Classes of Revolving Commitments in respect of which the L/C Expiration Date shall not have so occurred are then
in effect, such Letters of Credit for which consent has been obtained shall automatically be deemed to have been issued (including for
purposes of the obligations of the Revolving Lenders to purchase participations therein and to make Revolving Loans and payments in respect
thereof pursuant to Sections 2.03(3) and (4)) under (and ratably participated in by Revolving Lenders pursuant to) the Revolving
Commitments in respect of such non-terminating Classes up to an aggregate amount not to exceed the aggregate principal amount of the unutilized
Revolving Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated)
and (b) to the extent not reallocated pursuant to immediately preceding clause (a) and unless provisions reasonably satisfactory
to the applicable Issuing Bank for the treatment of such Letter of Credit as a letter of credit under a successor credit facility have
been agreed upon, the Borrower shall, on or prior to the applicable Maturity Date, cause all such Letters of Credit to be replaced and
returned to the applicable Issuing Bank undrawn and marked “cancelled” or to the extent that the Borrower is unable to so
replace and return any Letter(s) of Credit, such Letter(s) of Credit shall be backstopped by a “back to back” letter
of credit reasonably satisfactory to the applicable Issuing Bank or the Borrower shall Cash Collateralize any such Letter of Credit in
accordance with Section 2.03(7).

 

(14)           Letter
of Credit Reports. For so long as any Letter of Credit issued by an Issuing Bank that is not the Administrative Agent is outstanding,
such Issuing Bank shall deliver to the Administrative Agent on the last Business Day of each calendar month, and on each date that an
L/C Credit Extension occurs with respect to any such Letter of Credit, a report in the form of Exhibit R, appropriately completed
with the information for every outstanding Letter of Credit issued by such Issuing Bank.

 

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(15)           Letters
of Credit Issued for Holdings and Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support
of any obligations of, or is for the account of, Holdings or a Subsidiary of the Borrower, the Borrower shall be obligated to reimburse,
or cause to be reimbursed, the applicable Issuing Bank hereunder for any and all drawings under such Letter of Credit. The Borrower hereby
acknowledges that the issuance of Letters of Credit for the account of Holdings or any Subsidiary inures to the benefit of the Borrower,
and that the Borrower’s businesses derives substantial benefits from the businesses of Holdings and each Subsidiary.

 

(16)           Applicability
of ISP and UCP. Unless otherwise expressly agreed by the relevant Issuing Bank and the Borrower when a Letter of Credit is issued,
(i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to
each commercial Letter of Credit.

 

SECTION 2.04     [Reserved].

 

SECTION 2.05     Prepayments.

 

(1)           Optional.

 

(a)           The
Borrower may, upon notice to the Administrative Agent by the Borrower, at any time or from time to time voluntarily prepay any Class or
Classes of Term Loans and any Class or Classes of Revolving Loans in whole or in part without premium (except as set forth in Section 2.18)
or penalty; provided that

 

(i)           such
notice must be received by the Administrative Agent not later than (A) 1:00 p.m., New York time, three (3) U.S. Government Securities
Business Days prior to any date of prepayment of SOFR Loans and (B) 12:00 p.m., New York time, on the date of prepayment of Base
Rate Loans;

 

(ii)           any
prepayment of SOFR Loans shall be in a principal amount of $1.0 million or a whole multiple of $250,000 in excess thereof or, if less,
the entire principal amount thereof then outstanding; and

 

(iii)           any
prepayment of Base Rate Loans shall be in a principal amount of $1.0 million or a whole multiple of $250,000 in excess thereof or, if
less, the entire principal amount thereof then outstanding.

 

Each such notice shall specify the date and amount
of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Appropriate
Lender of its receipt of each such notice, and of the amount of such Lender’s Pro Rata Share of such prepayment. If such notice
is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable
on the date specified therein. Any prepayment of a SOFR Loan shall be accompanied by all accrued interest thereon, together with any additional
amounts required pursuant to Section 3.05. In the case of each prepayment of the Loans pursuant to this Section 2.05(1), the
Borrower may in its sole discretion select the Borrowing or Borrowings (and the order of maturity of principal payments) to be repaid,
and such payment shall be paid to the Appropriate Lenders in accordance with their respective Pro Rata Shares.

 

(b)           [Reserved].

 

(c)           Notwithstanding
anything to the contrary contained in this Agreement, the Borrower may rescind (or delay the date of prepayment identified in) any notice
of prepayment under Section 2.05(1)(a) by written notice to the Administrative Agent not later than 12:00 p.m., New York time,
on such prepayment date if such prepayment would have resulted from a refinancing of all or a portion of the applicable Facility or other
conditional event, which refinancing or other conditional event shall not be consummated or shall otherwise be delayed.

 

(d)           Voluntary
prepayments of any Class of Term Loans permitted hereunder shall be applied to the remaining scheduled installments of principal
thereof in a manner determined at the discretion of the Borrower and specified in the notice of prepayment (and absent such direction,
in direct order of maturity). Each prepayment in respect of any Term Loans pursuant to this Section 2.05 may be applied to any Class of
Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan
Class pursuant to this Section 2.05 without any requirement to prepay Extended Term Loans that were converted or exchanged from
such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 2.05 without any requirement
to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that
the Borrower does not specify the order in which to apply prepayments to reduce scheduled installments of principal or as between Classes
of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the scheduled installments of principal
in direct order of maturity on a pro rata basis among Term Loan Classes.

 

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(e)           Notwithstanding
anything in any Loan Document to the contrary, so long as (x) no Event of Default has occurred and is continuing and (y) no
proceeds of Revolving Loans are used for this purpose, any Borrower Party may (i) purchase outstanding Term Loans on a non-pro rata
basis through open market purchases or (ii) prepay the outstanding Term Loans (which Term Loans shall, for the avoidance of doubt,
be automatically and permanently canceled immediately upon such purchase or prepayment), which in the case of clause (ii) only
shall be prepaid without premium or penalty on the following basis:

 

(A)           Any
Borrower Party shall have the right to make a voluntary prepayment of Loans at a discount to par pursuant to a Borrower Offer of Specified
Discount Prepayment, Borrower Solicitation of Discount Range Prepayment Offers or Borrower Solicitation of Discounted Prepayment Offers
(any such prepayment, the “Discounted Term Loan Prepayment”), in each case made in accordance with this Section 2.05(1)(e) and
without premium or penalty.

 

(B)           (1) 
Any Borrower Party may from time to time offer to make a Discounted Term Loan Prepayment by providing the Auction Agent with five (5) Business
Days’ notice (or such shorter period as agreed by the Auction Agent) in the form of a Specified Discount Prepayment Notice; provided
that (I) any such offer shall be made available, at the sole discretion of the applicable Borrower Party, to (x) each Term
Lender or (y) each Term Lender with respect to any Class of Term Loans on an individual Class basis, (II) any such
offer shall specify the aggregate principal amount offered to be prepaid (the “Specified Discount Prepayment Amount”)
with respect to each applicable Class, the Class or Classes of Term Loans subject to such offer and the specific percentage discount
to par (the “Specified Discount”) of such Term Loans to be prepaid (it being understood that different Specified Discounts
or Specified Discount Prepayment Amounts may be offered with respect to different Classes of Term Loans and, in such event, each such
offer will be treated as a separate offer pursuant to the terms of this Section 2.05(1)(e)(B)), (III) the Specified Discount
Prepayment Amount shall be in an aggregate amount not less than $5.0 million and whole increments of $1.0 million in excess thereof and
(IV) each such offer shall remain outstanding through the Specified Discount Prepayment Response Date. The Auction Agent will promptly
provide each Appropriate Lender with a copy of such Specified Discount Prepayment Notice and a form of the Specified Discount Prepayment
Response to be completed and returned by each such Term Lender to the Auction Agent (or its delegate) by no later than 5:00 p.m., New
York time, on the third Business Day after the date of delivery of such notice to such Lenders (the “Specified Discount Prepayment
Response Date”).

 

(2)           Each
Term Lender receiving such offer shall notify the Auction Agent (or its delegate) by the Specified Discount Prepayment Response Date whether
or not it agrees to accept a prepayment of any of its applicable then outstanding Term Loans at the Specified Discount and, if so (such
accepting Lender, a “Discount Prepayment Accepting Lender”), the amount and the Classes of such Lender’s Term
Loans to be prepaid at such offered discount. Each acceptance of a Discounted Term Loan Prepayment by a Discount Prepayment Accepting
Lender shall be irrevocable. Any Term Lender whose Specified Discount Prepayment Response is not received by the Auction Agent by the
Specified Discount Prepayment Response Date shall be deemed to have declined to accept the applicable Borrower Offer of Specified Discount
Prepayment.

 

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(3)           If
there is at least one Discount Prepayment Accepting Lender, the relevant Borrower Party will make a prepayment of outstanding Term Loans
pursuant to this paragraph (B) to each Discount Prepayment Accepting Lender in accordance with the respective outstanding amount
and Classes of Term Loans specified in such Lender’s Specified Discount Prepayment Response given pursuant to subsection (2) above;
provided that if the aggregate principal amount of Term Loans accepted for prepayment by all Discount Prepayment Accepting Lenders
exceeds the Specified Discount Prepayment Amount, such prepayment shall be made pro rata among the Discount Prepayment Accepting Lenders
in accordance with the respective principal amounts accepted to be prepaid by each such Discount Prepayment Accepting Lender and the Auction
Agent (in consultation with such Borrower Party and subject to rounding requirements of the Auction Agent made in its reasonable discretion)
will calculate such proration (the “Specified Discount Proration”). The Auction Agent shall promptly, and in any case
within three (3) Business Days following the Specified Discount Prepayment Response Date, notify (I) the relevant Borrower Party
of the respective Term Lenders’ responses to such offer, the Discounted Prepayment Effective Date and the aggregate principal amount
of the Discounted Term Loan Prepayment and the Classes to be prepaid, (II) each Term Lender of the Discounted Prepayment Effective
Date, and the aggregate principal amount and the Classes of Term Loans to be prepaid at the Specified Discount on such date and (III) each
Discount Prepayment Accepting Lender of the Specified Discount Proration, if any, and confirmation of the principal amount, Class and
Type of Term Loans of such Lender to be prepaid at the Specified Discount on such date. Each determination by the Auction Agent of the
amounts stated in the foregoing notices to the applicable Borrower Party and such Term Lenders shall be conclusive and binding for all
purposes absent manifest error. The payment amount specified in such notice to the applicable Borrower Party shall be due and payable
by such Borrower Party on the Discounted Prepayment Effective Date in accordance with subsection (F) below (subject to subsection
(J) below).

 

(C)           (1) 
Any Borrower Party may from time to time solicit Discount Range Prepayment Offers by providing the Auction Agent with five (5) Business
Days’ notice (or such shorter period as agreed by the Auction Agent) in the form of a Discount Range Prepayment Notice; provided
that (I) any such solicitation shall be extended, at the sole discretion of such Borrower Party, to (x) each Term Lender
or (y) each Term Lender with respect to any Class of Term Loans on an individual Class basis, (II) any such notice
shall specify the maximum aggregate principal amount of the relevant Term Loans (the “Discount Range Prepayment Amount”),
the Class or Classes of Term Loans subject to such offer and the maximum and minimum percentage discounts to par (the “Discount
Range”) of the principal amount of such Term Loans with respect to each relevant Class of Term Loans willing to be prepaid
by such Borrower Party (it being understood that different Discount Ranges or Discount Range Prepayment Amounts may be offered with respect
to different Classes of Term Loans and, in such event, each such offer will be treated as a separate offer pursuant to the terms of this
Section 2.05(1)(e)(C)), (III) the Discount Range Prepayment Amount shall be in an aggregate amount not less than $5.0 million
and whole increments of $1.0 million in excess thereof and (IV) unless rescinded, each such solicitation by the applicable Borrower
Party shall remain outstanding through the Discount Range Prepayment Response Date. The Auction Agent will promptly provide each Appropriate
Lender with a copy of such Discount Range Prepayment Notice and a form of the Discount Range Prepayment Offer to be submitted by a responding
Term Lender to the Auction Agent (or its delegate) by no later than 5:00 p.m., New York time, on the third Business Day after the date
of delivery of such notice to such Lenders (the “Discount Range Prepayment Response Date”). Each Term Lender’s
Discount Range Prepayment Offer shall be irrevocable and shall specify a discount to par within the Discount Range (the “Submitted
Discount”) at which such Lender is willing to allow prepayment of any or all of its then outstanding Term Loans of the applicable
Class or Classes and the maximum aggregate principal amount and Classes of such Lender’s Term Loans (the “Submitted
Amount”) such Term Lender is willing to have prepaid at the Submitted Discount. Any Term Lender whose Discount Range Prepayment
Offer is not received by the Auction Agent by the Discount Range Prepayment Response Date shall be deemed to have declined to accept a
Discounted Term Loan Prepayment of any of its Term Loans at any discount to their par value within the Discount Range.

 

(2)           The
Auction Agent shall review all Discount Range Prepayment Offers received on or before the applicable Discount Range Prepayment Response
Date and shall determine (in consultation with such Borrower Party and subject to rounding requirements of the Auction Agent made in its
sole reasonable discretion) the Applicable Discount and Term Loans to be prepaid at such Applicable Discount in accordance with this subsection
(C). The relevant Borrower Party agrees to accept on the Discount Range Prepayment Response Date all Discount Range Prepayment Offers
received by the Auction Agent by the Discount Range Prepayment Response Date, in the order from the Submitted Discount that is the largest
discount to par to the Submitted Discount that is the smallest discount to par, up to and including the Submitted Discount that is the
smallest discount to par within the Discount Range (such Submitted Discount that is the smallest discount to par within the Discount Range
being referred to as the “Applicable Discount”) which yields a Discounted Term Loan Prepayment in an aggregate principal
amount equal to the lower of (I) the Discount Range Prepayment Amount and (II) the sum of all Submitted Amounts. Each Term Lender
that has submitted a Discount Range Prepayment Offer to accept prepayment at a discount to par that is larger than or equal to the Applicable
Discount shall be deemed to have irrevocably consented to prepayment of Term Loans equal to its Submitted Amount (subject to any required
proration pursuant to the following subsection (3)) at the Applicable Discount (each such Term Lender, a “Participating Lender”).

 

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(3)           If
there is at least one Participating Lender, the relevant Borrower Party will prepay the respective outstanding Term Loans of each Participating
Lender in the aggregate principal amount and of the Classes specified in such Lender’s Discount Range Prepayment Offer at the Applicable
Discount; provided that if the Submitted Amount by all Participating Lenders offered at a discount to par greater than the Applicable
Discount exceeds the Discount Range Prepayment Amount, prepayment of the principal amount of the relevant Term Loans for those Participating
Lenders whose Submitted Discount is a discount to par greater than or equal to the Applicable Discount (the “Identified Participating
Lenders”) shall be made pro rata among the Identified Participating Lenders in accordance with the Submitted Amount of each
such Identified Participating Lender and the Auction Agent (in consultation with such Borrower Party and subject to rounding requirements
of the Auction Agent made in its sole reasonable discretion) will calculate such proration (the “Discount Range Proration”).
The Auction Agent shall promptly, and in any case within five (5) Business Days following the Discount Range Prepayment Response
Date, notify (I) the relevant Borrower Party of the respective Term Lenders’ responses to such solicitation, the Discounted
Prepayment Effective Date, the Applicable Discount, the aggregate principal amount of the Discounted Term Loan Prepayment and the Classes
to be prepaid, (II) each Term Lender of the Discounted Prepayment Effective Date, the Applicable Discount and the aggregate principal
amount and Classes of Term Loans to be prepaid at the Applicable Discount on such date, (III) each Participating Lender of the aggregate
principal amount and Classes of such Term Lender to be prepaid at the Applicable Discount on such date and (IV) if applicable, each
Identified Participating Lender of the Discount Range Proration. Each determination by the Auction Agent of the amounts stated in the
foregoing notices to the relevant Borrower Party and Term Lenders shall be conclusive and binding for all purposes absent manifest error.
The payment amount specified in such notice to the applicable Borrower Party shall be due and payable by such Borrower Party on the Discounted
Prepayment Effective Date in accordance with subsection (F) below (subject to subsection (J) below).

 

(D)           (1) 
Any Borrower Party may from time to time solicit Solicited Discounted Prepayment Offers by providing the Auction Agent with five (5) Business
Days’ notice in the form of a Solicited Discounted Prepayment Notice (or such later notice specified therein); provided that
(I) any such solicitation shall be extended, at the sole discretion of such Borrower Party, to (x) each Term Lender or (y) each
Lender with respect to any Class of Term Loans on an individual Class basis, (II) any such notice shall specify the maximum
aggregate amount of the Term Loans (the “Solicited Discounted Prepayment Amount”) and the Class or Classes of
Term Loans the applicable Borrower Party is willing to prepay at a discount (it being understood that different Solicited Discounted Prepayment
Amounts may be offered with respect to different Classes of Term Loans and, in such event, each such offer will be treated as a separate
offer pursuant to the terms of this Section 2.05(1)(e)(D)), (III) the Solicited Discounted Prepayment Amount shall be in an
aggregate amount not less than $5.0 million and whole increments of $1.0 million in excess thereof and (IV) unless rescinded, each
such solicitation by the applicable Borrower Party shall remain outstanding through the Solicited Discounted Prepayment Response Date.
The Auction Agent will promptly provide each Appropriate Lender with a copy of such Solicited Discounted Prepayment Notice and a form
of the Solicited Discounted Prepayment Offer to be submitted by a responding Lender to the Auction Agent (or its delegate) by no later
than 5:00 p.m., New York time, on the third Business Day after the date of delivery of such notice to such Term Lenders (the “Solicited
Discounted Prepayment Response Date”). Each Term Lender’s Solicited Discounted Prepayment Offer shall (x) be irrevocable,
(y) remain outstanding until the Acceptance Date and (z) specify both a discount to par (the “Offered Discount”)
at which such Term Lender is willing to allow prepayment of its then outstanding Term Loan and the maximum aggregate principal amount
and Classes of such Term Loans (the “Offered Amount”) such Term Lender is willing to have prepaid at the Offered Discount.
Any Term Lender whose Solicited Discounted Prepayment Offer is not received by the Auction Agent by the Solicited Discounted Prepayment
Response Date shall be deemed to have declined prepayment of any of its Term Loans at any discount.

 

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(2)           The
Auction Agent shall promptly provide the relevant Borrower Party with a copy of all Solicited Discounted Prepayment Offers received on
or before the Solicited Discounted Prepayment Response Date. Such Borrower Party shall review all such Solicited Discounted Prepayment
Offers and select the smallest of the Offered Discounts specified by the relevant responding Term Lenders in the Solicited Discounted
Prepayment Offers that is acceptable to the applicable Borrower Party (the “Acceptable Discount”), if any. If the applicable
Borrower Party elects to accept any Offered Discount as the Acceptable Discount, then as soon as practicable after the determination of
the Acceptable Discount, but in no event later than by the third Business Day after the date of receipt by such Borrower Party from the
Auction Agent of a copy of all Solicited Discounted Prepayment Offers pursuant to the first sentence of this subsection (2) (the
 “Acceptance Date”), the applicable Borrower Party shall submit an Acceptance and Prepayment Notice to the Auction Agent
setting forth the Acceptable Discount. If the Auction Agent shall fail to receive an Acceptance and Prepayment Notice from the applicable
Borrower Party by the Acceptance Date, such Borrower Party shall be deemed to have rejected all Solicited Discounted Prepayment Offers.

 

(3)           Based
upon the Acceptable Discount and the Solicited Discounted Prepayment Offers received by the Auction Agent by the Solicited Discounted
Prepayment Response Date, within three (3) Business Days after receipt of an Acceptance and Prepayment Notice (the “Discounted
Prepayment Determination Date”), the Auction Agent will determine (with the consent of such Borrower Party and subject to rounding
requirements of the Auction Agent made in its sole reasonable discretion) the aggregate principal amount and the Classes of Term Loans
(the “Acceptable Prepayment Amount”) to be prepaid by the relevant Borrower Party at the Acceptable Discount in accordance
with this Section 2.05(1)(e)(D). If the applicable Borrower Party elects to accept any Acceptable Discount, then such Borrower Party
agrees to accept all Solicited Discounted Prepayment Offers received by the Auction Agent by the Solicited Discounted Prepayment Response
Date, in the order from largest Offered Discount to smallest Offered Discount, up to and including the Acceptable Discount. Each Term
Lender that has submitted a Solicited Discounted Prepayment Offer with an Offered Discount that is greater than or equal to the Acceptable
Discount shall be deemed to have irrevocably consented to prepayment of Term Loans equal to its Offered Amount (subject to any required
pro-rata reduction pursuant to the following sentence) at the Acceptable Discount (each such Lender, a “Qualifying Lender”).
The applicable Borrower Party will prepay outstanding Term Loans pursuant to this subsection (D) to each Qualifying Lender in the
aggregate principal amount and of the Classes specified in such Lender’s Solicited Discounted Prepayment Offer at the Acceptable
Discount; provided that if the aggregate Offered Amount by all Qualifying Lenders whose Offered Discount is greater than or equal
to the Acceptable Discount exceeds the Solicited Discounted Prepayment Amount, prepayment of the principal amount of the Term Loans for
those Qualifying Lenders whose Offered Discount is greater than or equal to the Acceptable Discount (the “Identified Qualifying
Lenders”) shall be made pro rata among the Identified Qualifying Lenders in accordance with the Offered Amount of each such
Identified Qualifying Lender and the Auction Agent (in consultation with such Borrower Party and subject to rounding requirements of the
Auction Agent made in its sole reasonable discretion) will calculate such proration (the “Solicited Discount Proration”).
On or prior to the Discounted Prepayment Determination Date, the Auction Agent shall promptly notify (I) the relevant Borrower Party
of the Discounted Prepayment Effective Date and Acceptable Prepayment Amount comprising the Discounted Term Loan Prepayment and the Classes
to be prepaid, (II) each Term Lender of the Discounted Prepayment Effective Date, the Acceptable Discount, and the Acceptable Prepayment
Amount of all Term Loans and the Classes to be prepaid to be prepaid at the Applicable Discount on such date, (III) each Qualifying
Lender of the aggregate principal amount and the Classes of such Term Lender to be prepaid at the Acceptable Discount on such date, and
(IV) if applicable, each Identified Qualifying Lender of the Solicited Discount Proration. Each determination by the Auction Agent
of the amounts stated in the foregoing notices to such Borrower Party and Term Lenders shall be conclusive and binding for all purposes
absent manifest error. The payment amount specified in such notice to such Borrower Party shall be due and payable by such Borrower Party
on the Discounted Prepayment Effective Date in accordance with subsection (F) below (subject to subsection (J) below).

 

(E)           In
connection with any Discounted Term Loan Prepayment, the Borrower Parties and the Term Lenders acknowledge and agree that the Auction
Agent may require, as a condition to the applicable Discounted Term Loan Prepayment, the payment of customary fees and expenses from a
Borrower Party to such Auction Agent for its own account in connection therewith.

 

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(F)           If
any Term Loan is prepaid in accordance with subsections (B) through (D) above, a Borrower Party shall prepay such Term Loans
on the Discounted Prepayment Effective Date. The relevant Borrower Party shall make such prepayment to the Administrative Agent, for the
account of the Discount Prepayment Accepting Lenders, Participating Lenders, or Qualifying Lenders, as applicable, at the Administrative
Agent’s Office in immediately available funds not later than 12:00 p.m., New York time, on the Discounted Prepayment Effective Date
and all such prepayments shall be applied to the relevant Class(es) of Term Loans and Lenders as specified by the applicable Borrower
Party in the applicable offer. The Term Loans so prepaid shall be accompanied by all accrued and unpaid interest on the par principal
amount so prepaid up to, but not including, the Discounted Prepayment Effective Date. Each prepayment of the outstanding Term Loans pursuant
to this Section 2.05(1)(e) shall be paid to the Discount Prepayment Accepting Lenders, Participating Lenders, or Qualifying
Lenders, as applicable, and shall be applied to the relevant Term Loans of such Lenders in accordance with their respective applicable
share as calculated by the Auction Agent in accordance with this Section 2.05(1)(e) and, if the Administrative Agent is not
the Auction Agent, the Administrative Agent shall be fully protected in relying on such calculations of the Auction Agent. The aggregate
principal amount of the Classes and installments of the relevant Term Loans outstanding shall be deemed reduced by the full par value
of the aggregate principal amount of the Classes of Term Loans prepaid on the Discounted Prepayment Effective Date in any Discounted Term
Loan Prepayment. In connection with each prepayment pursuant to this Section 2.05(1)(e), the relevant Borrower Party shall make a
customary representation to the assigning or assignee Term Lenders, as applicable, that it does not possess material non-public information
(or material information of the type that would not be public if the Borrower or any Parent Company were a publicly-reporting company)
with respect to the Borrower and its Subsidiaries that either (1) has not been disclosed to the Term Lenders generally (other than
Term Lenders that have elected not to receive such information) or (2) if not disclosed to the Term Lenders, would reasonably be
expected to have a material effect on, or otherwise be material to (A) a Term Lender’s decision to participate in any such
Discounted Term Loan Prepayment or (B) the market price of such Term Loans, or shall make a statement that such representation cannot
be made.

 

(G)           To
the extent not expressly provided for herein, each Discounted Term Loan Prepayment shall be consummated pursuant to procedures consistent
with the provisions in this Section 2.05(1)(e), established by the Auction Agent acting in its reasonable discretion and as reasonably
agreed by the applicable Borrower Party.

 

(H)           Notwithstanding
anything in any Loan Document to the contrary, for purposes of this Section 2.05(1)(e), each notice or other communication required
to be delivered or otherwise provided to the Auction Agent (or its delegate) shall be deemed to have been given upon Auction Agent’s
(or its delegate’s) actual receipt during normal business hours of such notice or communication; provided that any notice
or communication actually received outside of normal business hours shall be deemed to have been given as of the opening of business on
the next succeeding Business Day.

 

(I)           Each
of the Borrower Parties and the Term Lenders acknowledge and agree that the Auction Agent may perform any and all of its duties under
this Section 2.05(1)(e) by itself or through any Affiliate of the Auction Agent and expressly consents to any such delegation
of duties by the Auction Agent to such Affiliate and the performance of such delegated duties by such Affiliate. The exculpatory provisions
pursuant to this Agreement shall apply to each Affiliate of the Auction Agent and its respective activities in connection with any Discounted
Term Loan Prepayment provided for in this Section 2.05(1)(e) as well as activities of the Auction Agent.

 

(J)           Each
Borrower Party shall have the right, by written notice to the Auction Agent, to revoke in full (but not in part) its offer to make a Discounted
Term Loan Prepayment and rescind the applicable Specified Discount Prepayment Notice, Discount Range Prepayment Notice or Solicited Discounted
Prepayment Notice therefor at its discretion at any time on or prior to the applicable Specified Discount Prepayment Response Date, Discount
Range Prepayment Response Date or Solicited Discounted Prepayment Response Date (and if such offer is revoked pursuant to the preceding
clauses, any failure by such Borrower Party to make any prepayment to a Lender, as applicable, pursuant to this Section 2.05(1)(e) shall
not constitute a Default or Event of Default under Section 8.01 or otherwise).

 

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(2)           Mandatory.

 

(a)           Within
five (5) Business Days after financial statements have been delivered pursuant to Section 6.01(1) and the related Compliance
Certificate has been delivered pursuant to Section 6.02(1), commencing with the delivery of financial statements for the fiscal year
ended December 31, 2022, the Borrower shall, subject to clauses (g) and (h) of this Section 2.05(2), prepay, or cause
to be prepaid, an aggregate principal amount of Term Loans (the “ECF Payment Amount”) equal to 50% (such percentage
as it may be reduced as described below, the “ECF Percentage”) of Excess Cash Flow, if any, for the fiscal year covered
by such financial statements minus the sum of all voluntary prepayments of

 

(i)           Term
Loans made pursuant to Sections 2.05(1)(a) and 2.05(1)(e) (in an amount, in the case of prepayments pursuant to Section 2.05(1)(e),
equal to the discounted amount actually paid in respect of the principal amount of such Term Loans and only to the extent that such Loans
have been cancelled),

 

(ii)           Credit
Agreement Refinancing Indebtedness and Permitted Incremental Equivalent Debt, in each case to the extent secured in whole or in part on
a pari passu basis with the First Lien Obligations under this Agreement (but without regard to the control of remedies) and

 

(iii)           Revolving
Loans and loans under any other revolving facility that is secured, in whole or in part, on a pari passu basis with the First Lien
Obligations under this Agreement (but without regard to the control of remedies) (in each case of this clause (iii) (and with respect
to any revolving facility under clause (ii) above), to the extent accompanied by a permanent reduction in the corresponding Revolving
Commitments or other revolving commitments),

 

in the case of each of the immediately preceding clauses (i), (ii) and
(iii), made during such fiscal year (without duplication of any prepayments in such fiscal year that reduced the amount of Excess Cash
Flow required to be repaid pursuant to this Section 2.05(2)(a) for any prior fiscal year) or after the fiscal year-end but prior
to the date a prepayment pursuant to this Section 2.05(2)(a) is required to be made in respect of such fiscal year and in each
case to the extent such prepayments are not funded with the proceeds of Funded Debt (other than any Indebtedness under a Revolving Facility
or any other revolving credit facilities); provided that (w) a prepayment of Term Loans pursuant to this 2.05(2)(a) in
respect of any fiscal year shall only be required in the amount (if any) by which the ECF Payment Amount for such fiscal year exceeds
$10.0 million, (x) the ECF Percentage shall be 25% if the Secured Net Leverage Ratio as of the end of the fiscal year covered by
such financial statements was less than 4.75 to 1.00 and greater than or equal to 4.50 to 1.00 and (y) the ECF Percentage shall be
0% if the Secured Net Leverage Ratio as of the end of the fiscal year covered by such financial statements was less than 4.50 to 1.00;
provided further that:

 

(A)           if
at the time that any such prepayment would be required, the Borrower (or any Restricted Subsidiary) is required to Discharge Other Applicable
Indebtedness with Other Applicable ECF pursuant to the terms of the documentation governing such Indebtedness, then the Borrower (or any
Restricted Subsidiary) may apply such portion of Excess Cash Flow otherwise required to repay the Term Loans pursuant to this Section 2.05(2)(a) on
a pro rata basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and Other Applicable
Indebtedness requiring such Discharge at such time) to the prepayment of the Term Loans and to the repurchase or prepayment of Other Applicable
Indebtedness, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this Section 2.05(2)(a) shall
be reduced accordingly (provided that the portion of such Excess Cash Flow allocated to the Other Applicable Indebtedness shall
not exceed the amount of such Other Applicable ECF required to be allocated to the Other Applicable Indebtedness pursuant to the terms
thereof and the remaining amount, if any, of such portion of Excess Cash Flow shall be allocated to the Term Loans to the extent required
in accordance with the terms of this Section 2.05(2)(a)); and

 

(B)           to
the extent the lenders or holders of Other Applicable Indebtedness decline to have such Indebtedness repurchased or prepaid with such
portion of Excess Cash Flow, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of
such rejection) be applied to prepay the Term Loans to the extent required in accordance with the terms of this Section 2.05(2)(a).

 

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(b)           (i) 
If (x) the Borrower or any Restricted Subsidiary makes an Asset Sale or (y) any Casualty Event occurs, which results in the
realization or receipt by the Borrower or such Restricted Subsidiary of Net Proceeds, the Borrower shall prepay, or cause to be prepaid,
on or prior to the date which is ten (10) Business Days after the date of the realization or receipt by the Borrower or such Restricted
Subsidiary of such Net Proceeds, subject to clause (ii) of this Section 2.05(2)(b) and clauses (2)(g) and (h) of
this Section 2.05, an aggregate principal amount of Term Loans equal to 100% (such percentage as it may be reduced as described below,
the “Asset Sale Percentage”) of all Net Proceeds realized or received; provided that (x) the Asset Sale
Percentage shall be 50% if the Secured Net Leverage Ratio as of the most recently ended Test Period (calculated on a pro forma basis for
such Asset Sale or Casualty Event and such prepayment) is less than 4.75 to 1.00 and greater than or equal to 4.25 to 1.00 and (y) the
Asset Sale Percentage shall be 0% if the Secured Net Leverage Ratio as of the end of the most recently ended Test Period (calculated on
a pro forma basis for such Asset Sale or Casualty Event and such prepayment) is less than 4.25 to 1.00; provided further that no
prepayment shall be required pursuant to this Section 2.05(2)(b)(i) with respect to such portion of such Net Proceeds that the
Borrower shall have, on or prior to such date, given written notice to the Administrative Agent of its intent to reinvest (or entered
into a binding commitment to reinvest) in accordance with Section 2.05(2)(b)(ii); provided further that

 

(A)           if
at the time that any such prepayment would be required, the Borrower (or any Restricted Subsidiary) is required to Discharge any Other
Applicable Indebtedness with Other Applicable Net Proceeds pursuant to the terms of the documentation governing such Indebtedness, then
the Borrower (or any Restricted Subsidiary) may apply such Net Proceeds otherwise required to repay the Term Loans pursuant to this Section 2.05(2)(b)(i) on
a pro rata basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and Other Applicable
Indebtedness requiring such Discharge at such time), to the prepayment of the Term Loans and to the repurchase or prepayment of Other
Applicable Indebtedness, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this Section 2.05(2)(b)(i) shall
be reduced accordingly (provided that the portion of such Net Proceeds allocated to the Other Applicable Indebtedness shall not
exceed the amount of such Other Applicable Net Proceeds required to be allocated to the Other Applicable Indebtedness pursuant to the
terms thereof and the remaining amount, if any, of such portion of Net Proceeds shall be allocated to the Term Loans to the extent required
in accordance with the terms of this Section 2.05(2)(b)(i));

 

(B)           to
the extent the holders of Other Applicable Indebtedness decline to have such Indebtedness repurchased or prepaid with such portion of
such Net Proceeds, the declined amount shall promptly (and in any event within ten (10) Business Days after the date of such rejection)
be applied to prepay the Term Loans to the extent required in accordance with the terms of this Section 2.05(2)(b)(i).

 

(ii)           With
respect to any Net Proceeds realized or received with respect to any Asset Sale or any Casualty Event, the Borrower or any Restricted
Subsidiary, at its option, may reinvest all or any portion of such Net Proceeds in assets useful for their business (which shall include
any Permitted Investment pursuant to clause 3(a), (5) or (8)) within (x) twelve (12) months following receipt of such Net
Proceeds or (y) if the Borrower or any Restricted Subsidiary enters into a legally binding commitment to reinvest such Net Proceeds
within twelve (12) months following receipt thereof, within the later of (A) twelve (12) months following receipt thereof and (B) one
hundred eighty (180) days of the date of such legally binding commitment; provided that if any Net Proceeds are no longer intended
to be or cannot be so reinvested at any time after such reinvestment election, and subject to clauses (g) and (h) of this Section 2.05(2),
an amount equal to any such Net Proceeds shall be applied within five (5) Business Days after the Borrower reasonably determines
that such Net Proceeds are no longer intended to be or cannot be so reinvested to the prepayment of the Term Loans as set forth in this
Section 2.05.

 

(c)           [Reserved].

 

(d)           If
the Borrower or any Restricted Subsidiary incurs or issues any Indebtedness (i) not expressly permitted to be incurred or issued
pursuant to Section 7.02 or (ii) that constitutes Other Loans or Credit Agreement Refinancing Indebtedness, in each case, incurred
or issued to refinance any Class (or Classes) of Term Loans resulting in Net Proceeds (as opposed to such Credit Agreement Refinancing
Indebtedness or Other Loans arising out of an exchange of existing Term Loans for such Credit Agreement Refinancing Indebtedness or Other
Loans), the Borrower shall prepay, or cause to be prepaid, an aggregate principal amount of Term Loans of any Class or Classes (in
each case, as directed by the Borrower) equal to 100% of all Net Proceeds received therefrom on or prior to the date which is five (5) Business
Days after the receipt by the Borrower or such Restricted Subsidiary of such Net Proceeds.

 

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(e)           (i) 
Except as otherwise set forth in any Refinancing Amendment, Extension Amendment or Incremental Amendment, each prepayment of Term Loans
required by Sections 2.05(2)(a), (b) and (d)(i) shall be allocated to any Class of Term Loans outstanding as directed by
the Borrower, shall be applied pro rata to Term Lenders within such Class of Term Loans, based upon the outstanding principal amounts
owing to each such Term Lender under such Class of Term Loans and shall be applied to reduce such remaining scheduled installments
of principal within such Class of Term Loans in direct order of maturity; provided that

 

(x)           such
prepayments may not be directed to a later maturing Class of Term Loans without at least a pro rata repayment of any earlier maturing
Classes of Term Loans (except that any Class of Incremental Term Loans, Other Term Loans, Extended Term Loans or Replacement Loans
may specify that one or more other Classes of later maturing Term Loans may be prepaid prior to such Class of earlier maturing Term
Loans), and

 

(y)           in
the event that there are two or more outstanding Classes of Term Loans with the same Maturity Date, such prepayments may not be directed
to any such Class of Term Loans without at least a pro rata repayment of any Classes of Term Loans maturing on the same date (except
that any Class of Incremental Term Loans, Other Term Loans, Extended Term Loans or Replacement Loans may specify that one or more
other Classes of Term Loans with the same Maturity Date may be prepaid prior to such Class of Term Loans maturing on the same date),
and

 

(ii)           each
prepayment of Term Loans required by Section 2.05(2)(d)(ii) shall be allocated to any Class or Classes of Term Loans being
refinanced as directed by the Borrower and shall be applied pro rata to Term Lenders within each such Class, based upon the outstanding
principal amounts owing to each such Term Lender under each such Class of Term Loans.

 

(f)           If
for any reason the aggregate Outstanding Amount of Revolving Loans and L/C Obligations at any time exceeds the aggregate Revolving Commitments
then in effect, the Borrower shall promptly prepay Revolving Loans or Cash Collateralize the L/C Obligations in an aggregate amount equal
to such excess; provided that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(2)(f) unless
after the prepayment in full of the Revolving Loans such aggregate Outstanding Amount of L/C Obligations exceeds the aggregate Revolving
Commitments then in effect.

 

(g)           The
Borrower shall notify the Administrative Agent in writing of any mandatory prepayment of Term Loans required to be made pursuant to clauses
(a) through (d) of this Section 2.05(2) at least three (3) Business Days prior to the date of such prepayment
(provided that, in the case of clause (b) or (d) of this Section 2.05(2), the Borrower may rescind (or delay the
date of prepayment identified in) such notice if such prepayment would have resulted from a refinancing of all or any portion of the applicable
Facility or other conditional event, which refinancing or other conditional event shall not be consummated or shall otherwise be delayed).
Each such notice shall specify the date of such prepayment and provide a reasonably detailed calculation of the aggregate amount of such
prepayment to be made by the Borrower. The Administrative Agent will promptly notify each Appropriate Lender of the contents of the Borrower’s
prepayment notice and of such Appropriate Lender’s Pro Rata Share of the prepayment. Each Term Lender may reject all or a portion
of its Pro Rata Share of any mandatory prepayment (such declined amounts, the “Declined Proceeds”) of Term Loans required
to be made pursuant to clauses (a), (b) and (d)(i) of this Section 2.05(2) by providing written notice (each, a “Rejection
Notice”) to the Administrative Agent and the Borrower no later than 5:00 p.m., New York time, one (1) Business Day after
the date of such Lender’s receipt of notice from the Administrative Agent regarding such prepayment. Each Rejection Notice from
a given Lender shall specify the principal amount of the mandatory repayment of Term Loans to be rejected by such Lender. If a Term Lender
fails to deliver a Rejection Notice to the Administrative Agent within the time frame specified above or such Rejection Notice fails to
specify the principal amount of the Term Loans to be rejected, any such failure will be deemed an acceptance of the total amount of such
mandatory prepayment of Term Loans. Any Declined Proceeds remaining shall be retained by the Borrower (or the applicable Restricted Subsidiary)
and may be applied by the Borrower or such Restricted Subsidiary in any manner not prohibited by this Agreement.

 

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(h)           Notwithstanding
any other provisions of this Section 2.05(2), (A) to the extent that any or all of the Net Proceeds of any Asset Sale by a Foreign
Subsidiary giving rise to a prepayment event pursuant to Section 2.05(2)(b) (a “Foreign Asset Sale”), the
Net Proceeds of any Casualty Event from a Foreign Subsidiary (a “Foreign Casualty Event”) or all or a portion of Excess
Cash Flow are prohibited or delayed by applicable local law from being repatriated to the United States, an amount equal to the portion
of such Net Proceeds or Excess Cash Flow so affected will not be required to be applied to repay Term Loans at the times provided in this
Section 2.05(2) so long, but only so long, as the applicable local law will not permit repatriation to the United States (the
Borrower hereby agreeing to cause the applicable Foreign Subsidiary to promptly take all commercially reasonable actions under the applicable
local law to permit such repatriation), and once such repatriation of any of such affected Net Proceeds or Excess Cash Flow is permitted
under the applicable local law, an amount equal to such Net Proceeds or Excess Cash Flow permitted to be repatriated will be promptly
(and in any event not later than two (2) Business Days after any such repatriation) applied (net of additional taxes that are or
would be payable or reserved against as a result thereof) to the repayment of the Term Loans pursuant to this Section 2.05(2) to
the extent otherwise provided herein and (B) to the extent that the Borrower has determined in good faith that repatriation of any
of or all the Net Proceeds of any Foreign Asset Sale or Foreign Casualty Event or Excess Cash Flow would have a material adverse tax consequence
(taking into account any foreign tax credit or benefit actually realized in connection with such repatriation) with respect to such Net
Proceeds or Excess Cash Flow, an amount equal to the Net Proceeds or Excess Cash Flow so affected will not be required to be applied to
repay Term Loans at the times provided in this Section 2.05(2).

 

(i)           All
prepayments under this Section 2.05 (other than prepayments of Base Rate Revolving Loans that are not made in connection with the
termination or permanent reduction of Revolving Commitments) shall be accompanied by all accrued interest thereon, together with, in the
case of any such prepayment of a SOFR Loan on a date prior to the last day of an Interest Period therefor, any amounts owing in respect
of such SOFR Loan pursuant to Section 3.05.

 

Notwithstanding any of the other provisions of this
Section 2.05, so long as no Event of Default shall have occurred and be continuing, if any prepayment of SOFR Loans is required to
be made under this Section 2.05 prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to
this Section 2.05 in respect of any such SOFR Loan prior to the last day of the Interest Period therefor, the Borrower may, in its
discretion, deposit an amount sufficient to make any such prepayment otherwise required to be made thereunder together with accrued interest
to the last day of such Interest Period into a Cash Collateral Account until the last day of such Interest Period, at which time the Administrative
Agent shall be authorized (without any further action by or notice to or from the Borrower or any other Loan Party) to apply such amount
to the prepayment of such Loans in accordance with this Section 2.05. Upon the occurrence and during the continuance of any Event
of Default, the Administrative Agent shall also be authorized (without any further action by or notice to or from the Borrower or any
other Loan Party) to apply such amount to the prepayment of the outstanding Loans in accordance with the relevant provisions of this Section 2.05.
Such deposit shall be deemed to be a prepayment of such Loans by the Borrower for all purposes under this Agreement.

 

Additionally, notwithstanding anything else in this
Agreement to the contrary, in the event that any Term Loan of any Lender would otherwise be repaid or prepaid from the proceeds of other
Term Loans being funded on the date of such repayment or prepayment, if agreed to by the Borrower and such Lender and notified to the
Administrative Agent prior to the date of the applicable repayment or prepayment, all or any portion of such Lender’s Term Loan
that would have otherwise been repaid or prepaid in connection therewith may be converted on a “cashless roll” basis into
a new Term Loan.

 

SECTION 2.06     Termination
or Reduction of Commitments.

 

(1)           Optional.
The Borrower may, upon written notice by the Borrower to the Administrative Agent, terminate the unused Commitments of any Class, or
from time to time permanently reduce the unused Commitments of any Class, in each case without premium or penalty; provided that

 

(a)           any
such notice shall be received by the Administrative Agent three (3) Business Days prior to the date of termination or reduction,

 

    	 	112	 

     

    

 

(b)           any
such partial reduction shall be in an aggregate amount of $5.0 million or any whole multiple of $1.0 million in excess thereof or, if
less, the entire amount thereof and

 

(c)           if,
after giving effect to any reduction of the Commitments, the L/C Sublimit exceeds the amount of the Revolving Facility, the L/C Sublimit
shall be automatically reduced by the amount of such excess.

 

Except as provided above, the amount of any such
Revolving Commitment reduction shall not be applied to the L/C Sublimit unless otherwise specified by the Borrower. Notwithstanding the
foregoing, the Borrower may rescind or postpone any notice of termination of any Commitments if such termination would have resulted from
a refinancing of all of the applicable Facility or other conditional event, which refinancing or other conditional event shall not be
consummated or shall otherwise be delayed.

 

(2)           Mandatory.
The Term Commitments of each Term Lender on the Closing Date shall be automatically and permanently reduced to $0 upon the making of such
Lender’s Term B Loans to the Borrower pursuant to Section 2.01(1). The Revolving Commitment of each Revolving Lender shall
automatically and permanently terminate on the Maturity Date for the applicable Revolving Facility.

 

(3)           Application
of Commitment Reductions; Payment of Fees. The Administrative Agent will promptly notify the Appropriate Lenders of any termination
or reduction of unused portions of the L/C Sublimit or the unused Commitments of any Class under this Section 2.06. Upon any
reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced on a pro rata basis (determined
on the basis of the aggregate Commitments under such Class) (other than the termination of the Commitment of any Lender as provided in
Section 3.07). Any commitment fees accrued until the effective date of any termination of the Revolving Commitments shall be paid
on the effective date of such termination.

 

SECTION 2.07     Repayment
of Loans.

 

(1)           Term
B Loans. The Borrower shall repay to the Administrative Agent (a)(i) for the ratable account of the Appropriate Lenders of the
Term B Loans outstanding on the Closing Date, on the last Business Day of each March, June, September and December, commencing with
March 31, 2022, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Term B Loans outstanding on
the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority
set forth in Section 2.05) and (b) on the Maturity Date for the Term B Loans, the aggregate principal amount of all Term B
Loans outstanding on such date. In connection with any Incremental Term Loans that constitute part of the same Class as the Term
B Loans, the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such
that the Term Lenders holding Term B Loans comprising part of such Class continue to receive a payment that is not less than the
same Dollar amount that such Term Lenders would have received absent the incurrence of such Incremental Term Loans.

 

(2)           Revolving
Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders on the Maturity Date
for the applicable Revolving Facility the aggregate principal amount of all Revolving Loans under such Facility outstanding on such date.

 

SECTION 2.08     Interest.

 

(1)           Subject
to the provisions of Section 2.08(2), (a) each SOFR Loan shall bear interest on the outstanding principal amount thereof for
each Interest Period at a rate per annum equal to the Adjusted Term SOFR for such Interest Period, plus the Applicable Rate and
(b) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable Borrowing date at a
rate per annum equal to the Base Rate, plus the Applicable Rate.

 

(2)           During
the continuance of a Default under Section 8.01(1) or 8.01(6), the Borrower shall pay interest on past due amounts hereunder
at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws; provided
that no interest at the Default Rate shall accrue or be payable to a Defaulting Lender so long as such Lender shall be a Defaulting
Lender. Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.

 

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(3)           Interest
on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified
herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after
the commencement of any proceeding under any Debtor Relief Law.

 

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

 

SECTION 2.09     Fees.

 

(1)           Commitment
Fee. The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender under each Revolving Facility
in accordance with its Applicable Percentage, a commitment fee equal to the applicable Commitment Fee Rate times the actual daily amount
by which the aggregate Revolving Commitments exceed the sum of (a) the Outstanding Amount of Revolving Loans and (b) the Outstanding
Amount of L/C Obligations; provided that any commitment fee accrued with respect to any of the Commitments of a Defaulting Lender
under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall
not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall
otherwise have been due and payable by the Borrower prior to such time; and provided further that no commitment fee shall accrue
on any of the Commitments under any Revolving Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The
commitment fee on each Revolving Commitment shall accrue at all times from the Closing Date until the Maturity Date for the applicable
Revolving Commitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due
and payable quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the last
Business Day of December 31, 2021, and on the Maturity Date for such Revolving Facility. The commitment fee shall be calculated
quarterly in arrears, and if there is any change in the Commitment Fee Rate during any quarter, the actual daily amount shall be computed
and multiplied by the Commitment Fee Rate separately for each period during such quarter that such Commitment Fee Rate was in effect.

 

(2)           Other
Fees. The Borrower shall pay to the Agents such fees as shall have been separately agreed upon in writing in the amounts and at the
times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever (except as expressly
agreed between the Borrower and the applicable Agent).

 

SECTION 2.10     Computation
of Interest and Fees. All computations of interest for Base Rate Loans shall be made on the basis of a year of 365 days or 366 days,
as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year
and actual days elapsed. Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or
any portion thereof, for the day on which the Loan or such portion is paid; provided that any Loan that is repaid on the same
day on which it is made shall, subject to Section 2.12(1), bear interest for one day. Each determination by the Administrative Agent
of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

 

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SECTION
2.11     Evidence of Indebtedness.

 

(1)           The
Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by
one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c) or
Proposed Section 1.163-5(b) (or, in each case, any amended or successor sections), as agent for the Borrower, in each case in
the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence
absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon.
Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder
to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any
Lender and the accounts and records of the Administrative Agent, as set forth in the Register, in respect of such matters, the accounts
and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the
Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such
Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its
Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.

 

(2)           In
addition to the accounts and records referred to in Section 2.11(1), each Lender and the Administrative Agent shall maintain in accordance
with its usual practice accounts or records and, in the case of the Administrative Agent, entries in the Register, evidencing the purchases
and sales by such Lender of participations in Letters of Credit. In the event of any conflict between the accounts and records maintained
by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative
Agent shall control in the absence of manifest error.

 

(3)           Entries
made in good faith by the Administrative Agent in the Register pursuant to Sections 2.11(1) and (2), and by each Lender in its account
or accounts pursuant to Sections 2.11(1) and (2), shall be prima facie evidence of the amount of principal and interest due and payable
or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in the case of such account or accounts,
such Lender, under this Agreement and the other Loan Documents, absent manifest error; provided that the failure of the Administrative
Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not
limit or otherwise affect the obligations of the Borrower under this Agreement and the other Loan Documents.

 

SECTION 2.12     Payments
Generally.

 

(1)           All
payments to be made by the Borrower hereunder shall be made in Dollars without condition or deduction for any counterclaim, defense, recoupment
or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent,
for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent’s Office for payment
and in Same Day Funds not later than 2:00 p.m., New York time, on the date specified herein. The Administrative Agent will promptly distribute
to each Appropriate Lender its Pro Rata Share (or other applicable share as provided herein) of such payment in like funds as received
by wire transfer to such Lender’s Lending Office. Any payments under this Agreement that are made later than 2:00 p.m., New York
time, shall be deemed to have been made on the next succeeding Business Day (but the Administrative Agent may extend such deadline for
purposes of computing interest and fees (but not beyond the end of such day) in its sole discretion whether or not such payments are in
process).

 

(2)           Except
as otherwise expressly provided herein, if any payment to be made by the Borrower shall come due on a day other than a Business Day, payment
shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the
case may be.

 

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(3)           Unless
the Borrower or any Lender has notified the Administrative Agent, prior to the date, or in the case of any Borrowing of Base Rate Loans,
prior to 1:00 p.m., New York time, on the date of such Borrowing, any payment is required to be made by it to the Administrative Agent
hereunder (in the case of the Borrower, for the account of any Lender or an Issuing Bank hereunder or, in the case of the Lenders, for
the account of any Issuing Bank or the Borrower hereunder), that the Borrower or such Lender, as the case may be, will not make such
payment, the Administrative Agent may assume that the Borrower or such Lender, as the case may be, has timely made such payment and may
(but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and
to the extent that such payment was not in fact made to the Administrative Agent in Same Day Funds, then:

 

(a)           if
the Borrower failed to make such payment, each Lender or Issuing Bank shall forthwith on demand repay to the Administrative Agent the
portion of such assumed payment that was made available to such Lender or Issuing Bank in Same Day Funds, together with interest thereon
in respect of each day from and including the date such amount was made available by the Administrative Agent to such Lender or Issuing
Bank to the date such amount is repaid to the Administrative Agent in Same Day Funds at the Overnight Rate from time to time in effect;
and

 

(b)           if
any Lender failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent the amount thereof in Same
Day Funds, together with interest thereon for the period from the date such amount was made available by the Administrative Agent to the
Borrower to the date such amount is recovered by the Administrative Agent (the “Compensation Period”) at a rate per
annum equal to the Overnight Rate from time to time in effect. When such Lender makes payment to the Administrative Agent (together with
all accrued interest thereon), then such payment amount (excluding the amount of any interest which may have accrued and been paid in
respect of such late payment) shall constitute such Lender’s Loan included in the applicable Borrowing. If such Lender does not
pay such amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent may make a demand therefor upon
the Borrower, and the Borrower shall pay such amount, or cause such amount to be paid, to the Administrative Agent, together with interest
thereon for the Compensation Period at a rate per annum equal to the rate of interest applicable to the applicable Borrowing. Nothing
herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any rights which the Administrative
Agent or the Borrower may have against any Lender as a result of any default by such Lender hereunder. A notice of the Administrative
Agent to any Lender or the Borrower with respect to any amount owing under this Section 2.12(3) shall be conclusive, absent
manifest error.

 

(c)           If
any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in this Article II,
and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension
set forth in Section 4.02 are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return
such funds (in like funds as received from such Lender) to such Lender, without interest.

 

(d)           The
obligations of the Lenders hereunder to make Loans and to fund participations in Letters of Credit are several and not joint. The failure
of any Lender to make any Loan or fund any participation on any date required hereunder shall not relieve any other Lender of its corresponding
obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan or purchase
its participation.

 

(e)           Nothing
herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation
by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner.

 

(f)           Whenever
any payment received by the Administrative Agent under this Agreement or any of the other Loan Documents is insufficient to pay in full
all amounts due and payable to the Administrative Agent and the Lenders under or in respect of this Agreement and the other Loan Documents
on any date, such payment shall be distributed by the Administrative Agent and applied by the Administrative Agent and the Lenders in
the order of priority set forth in Section 8.03 (or otherwise expressly set forth herein). If the Administrative Agent receives funds
for application to the Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan
Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may, but shall not be obligated to,
elect to distribute such funds to each of the Lenders in accordance with such Lender’s Pro Rata Share of the sum of (i) the
Outstanding Amount of all Loans outstanding at such time and (ii) the Outstanding Amount of all L/C Obligations outstanding at such
time, in repayment or prepayment of such of the outstanding Loans or other Obligations then owing to such Lender.

 

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SECTION 2.13     Sharing
of Payments. Other than as expressly provided elsewhere herein, if any Lender of any Class shall obtain payment in respect of
any principal of or interest on account of the Loans of such Class made by it or the participations in L/C Obligations held by it
(whether voluntary, involuntary, through the exercise of any right of setoff, or otherwise) in excess of its ratable share (or other share
contemplated hereunder) thereof, such Lender shall immediately (1) notify the Administrative Agent of such fact, and (2) purchase
from the other Lenders such participations in the Loans of such Class made by them or such subparticipations in the participations
in L/C Obligations held by them, as the case may be, as shall be necessary to cause such purchasing Lender to share the excess payment
in respect of any principal of or interest on such Loans of such Class or such participations, as the case may be, pro rata with
each of them; provided that if all or any portion of such excess payment is thereafter recovered from the purchasing Lender under
any of the circumstances described in Section 10.06 (including pursuant to any settlement entered into by the purchasing Lender in
its discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to the purchasing Lender the purchase
price paid therefor, together with an amount equal to such paying Lender’s ratable share (according to the proportion of (a) the
amount of such paying Lender’s required repayment to (b) the total amount so recovered from the purchasing Lender) of any interest
or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further interest thereon.
For the avoidance of doubt, the provisions of this Section 2.13 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 as in effect from time to time (including the application
of funds arising from the existence of a Defaulting Lender) or (ii) any payment obtained by a Lender as consideration for the assignment
of or sale of a participation in any of its Loans to any assignee or participant permitted hereunder. The Borrower agrees that any Lender
so purchasing a participation from another Lender pursuant to this Section 2.13 may, to the fullest extent permitted by applicable
Law, exercise all its rights of payment (including the right of setoff, but subject to Section 10.10) with respect to such participation
as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation. The Administrative Agent will
keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased under this Section 2.13
and will in each case notify the Lenders following any such purchases or repayments. Each Lender that purchases a participation pursuant
to this Section 2.13 shall from and after such purchase have the right to give all notices, requests, demands, directions and other
communications under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing
Lender were the original owner of the Obligations purchased. For purposes of clause (3) of the definition of Excluded Taxes, any
participation acquired by a Lender pursuant to this Section 2.13 shall be treated as having been acquired on the earlier date(s) on
which the applicable interest(s) in the Commitment(s) or Loan(s) to which such participation relates were acquired by such
Lender.

 

SECTION 2.14     Incremental
Facilities.

 

(1)           Incremental
Loan Request. The Borrower may at any time and from time to time after the Closing Date, by notice to the Administrative Agent (an
 “Incremental Loan Request”), request (A) one or more new commitments which may be of the same Class as any
outstanding Term Loans (a “Term Loan Increase”) or a new Class of term loans (collectively with any Term Loan
Increase, the “Incremental Term Commitments”) and/or (B) one or more increases in the amount of the Revolving
Commitments (a “Revolving Commitment Increase”) or the establishment of one or more new revolving credit commitments
(each an “Incremental Revolving Facility”; and, collectively with any Revolving Commitment Increases, the “Incremental
Revolving Commitments” and any Incremental Revolving Commitments, collectively with any Incremental Term Commitments, the “Incremental
Commitments”), whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders. Each Incremental Loan
Request from the Borrower pursuant to this Section 2.14 shall set forth the requested amount and proposed terms of the relevant Incremental
Term Commitments or Incremental Revolving Commitments.

 

(2)           Incremental
Loans. Any Incremental Term Loans or Incremental Revolving Commitments effected through the establishment of one or more new term
loans or new revolving credit commitments, as applicable, made on an Incremental Facility Closing Date (other than a Loan Increase) shall
be designated a separate Class of Incremental Term Loans or Incremental Revolving Commitments, as applicable, for all purposes of
this Agreement. On any Incremental Facility Closing Date on which any Incremental Term Commitments of any Class are effected (including
through any Term Loan Increase), subject to the satisfaction of the terms and conditions in this Section 2.14, (i) each Incremental
Term Lender of such Class shall make a Loan to the Borrower (an “Incremental Term Loan”) in an amount equal to
its Incremental Term Commitment of such Class and (ii) each Incremental Term Lender of such Class shall become a Lender
hereunder with respect to the Incremental Term Commitment of such Class and the Incremental Term Loans of such Class made pursuant
thereto. On any Incremental Facility Closing Date on which any Incremental Revolving Commitments of any Class are effected through
the establishment of one or more new revolving credit commitments (including through any Revolving Commitment Increase), subject to the
satisfaction of the terms and conditions in this Section 2.14, (i) each Incremental Revolving Lender of such Class shall
make its Commitment available to the Borrower (when borrowed, an “Incremental Revolving Loan” and collectively with
any Incremental Term Loan, an “Incremental Loan”) in an amount equal to its Incremental Revolving Commitment of such
Class and (ii) each Incremental Revolving Lender of such Class shall become a Lender hereunder with respect to the Incremental
Revolving Commitment of such Class and the Incremental Revolving Loans of such Class made pursuant thereto.

 

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(3)           Incremental
Lenders. Incremental Term Loans may be made, and Incremental Revolving Commitments may be provided, by any existing Lender (but no
existing Lender will have an obligation to make any Incremental Commitment (or Incremental Loan), nor will the Borrower have any obligation
to approach any existing Lenders to provide any Incremental Commitment (or Incremental Loan)) or by any Additional Lender (each such existing
Lender or Additional Lender providing such Loan or Commitment, an “Incremental Term Lender” or “Incremental
Revolving Lender,” as applicable, and, collectively, the “Incremental Lenders”); provided that the
Administrative Agent or, in the case of any Incremental Revolving Commitments only, each Issuing Bank, shall have consented (in each case,
not to be unreasonably withheld or delayed) to such Additional Lender’s making such Incremental Term Loans or providing such Incremental
Revolving Commitments to the extent such consent, if any, would be required under Section 10.07(b) for an assignment of Loans
or Revolving Commitments, as applicable, to such Additional Lender.

 

(4)           Effectiveness
of Incremental Amendment. The effectiveness of any Incremental Amendment and the availability of any initial credit extensions thereunder
shall be subject to the satisfaction on the date thereof (the “Incremental Facility Closing Date”) of each of the following
conditions:

 

(a)           (x) no
Event of Default shall then exist or would exist after giving effect to such Incremental Commitments; provided that, with respect
to any Limited Condition Transaction, the requirement pursuant to this clause (4)(a)(x) shall be that no Event of Default shall
exist on the date the definitive documentation with respect to such Limited Condition Transaction is entered into and no Event of Default
under Section 8.01(1) or Section 8.01(6) shall exist upon giving effect to such Incremental Commitments, and (y) the
representations and warranties of the Borrower contained in Article V or any other Loan Document shall be true and correct in all
material respects on and as of the date of such Incremental Amendment (provided that, to the extent that such representations and
warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided,
further, that, any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect”
or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates);
provided that, in connection with a Limited Condition Transaction, the condition in clause (y) shall only require that the
Specified Representations be true and correct;

 

(b)           each
Incremental Term Commitment shall be in an aggregate principal amount that is not less than $5.0 million (provided that such amount
may be less than $5.0 million if such amount represents all remaining availability under the limit set forth in clause (c) of
this Section 2.14(4)) and each Incremental Revolving Commitment shall be in an aggregate principal amount that is not less than $5.0
million (provided that such amount may be less than $5.0 million if such amount represents all remaining availability under the
limit set forth in clause (c) of Section 2.14(4));

 

(c)           the
aggregate principal amount of Incremental Term Loans and Incremental Revolving Commitments shall not, together with the aggregate principal
amount of Permitted Incremental Equivalent Debt, exceed the sum of:

 

(A)           (1) the
greater of (i) $295.0 million and (ii) 100% of Consolidated EBITDA of the Borrower and the Restricted Subsidiaries for the most
recently ended Test Period (calculated on a pro forma basis) plus (2) the aggregate amount of (x) voluntary prepayments
of Term Loans (including Incremental Term Loans) and Permitted Incremental Equivalent Debt (other than Permitted Incremental Equivalent
Debt consisting of revolving credit facilities) (including purchases of the Loans or Permitted Incremental Equivalent Debt by Holdings,
the Borrower or any of its Subsidiaries at or below par, in which case the amount of voluntary prepayments of such Loans or Permitted
Incremental Equivalent Debt shall be deemed not to exceed the actual purchase price of such Loans or Permitted Incremental Equivalent
Debt below par), in each case, only to the extent secured on a pari passu basis with the Closing Date Term Loans and (y) voluntary
permanent commitment reductions in respect of Revolving Loans (including Incremental Revolving Commitments or Permitted Incremental Equivalent
Debt consisting of revolving credit commitments, in each case, to the extent such Revolving Loans, Incremental Revolving Commitments
or Permitted Incremental Equivalent Debt is secured on pari passu basis with the Revolving Facility in effect on the Closing Date), other
than, in each case under clauses (x) and (y), from proceeds of long-term Indebtedness (other than revolving Indebtedness), plus

 

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(B)           an
unlimited amount, so long as in the case of this clause (B) only,

 

(x)           in
the case of Incremental Loans or Incremental Revolving Commitments secured on a basis that is equal in priority to the Liens securing
the First Lien Obligations under this Agreement (but without regard to the control of remedies), the Secured Net Leverage Ratio for the
Test Period most recently ended calculated on a pro forma basis after giving effect to any such incurrence, does not exceed either
(I) 5.00 to 1.00 or (II) if such Indebtedness is incurred in connection with a Permitted Acquisition or other similar Investment
permitted hereunder, the greater of (1) 5.50 to 1.00 and (2) the Secured Net Leverage Ratio for the Test Period most recently
ended calculated on a pro forma basis after giving effect to any such incurrence would be no greater than the Secured Net Leverage
Ratio immediately prior to giving effect to such incurrence (in the case of an incurrence of Incremental Revolving Commitments, assuming
such Incremental Revolving Commitments are fully drawn and calculating the Secured Net Leverage Ratio without netting the cash proceeds
from such Incremental Loans then proposed to be incurred),

 

(y)           in
the case of Incremental Loans or Incremental Revolving Commitments secured on a basis that is junior in priority to the Liens securing
the First Lien Obligations under this Agreement, the Secured Net Leverage Ratio for the Test Period most recently ended calculated on
a pro forma basis after giving effect to any such incurrence, does not exceed either (I) 5.00 to 1.00 or (II) if such
Indebtedness is incurred in connection with a Permitted Acquisition or other similar Investment permitted hereunder, the greater of (1) 5.50
to 1.00 and (2) the Secured Net Leverage Ratio for the Test Period most recently ended calculated on a pro forma basis after
giving effect to any such incurrence would be no greater than the Secured Net Leverage Ratio immediately prior to giving effect to such
incurrence (in the case of an incurrence of Incremental Revolving Commitments, assuming such Incremental Revolving Commitments are fully
drawn and calculating the Secured Net Leverage Ratio without netting the cash proceeds from such Incremental Loans then proposed to be
incurred), and

 

(z)           in
the case of Incremental Loans or Incremental Revolving Commitments that are unsecured, either (I)(i) the Total Net Leverage Ratio
for the Test Period most recently ended calculated on a pro forma basis after giving effect to any such incurrence, does not exceed
either (x) 6.50 to 1.00 or (y) if such Indebtedness is incurred in connection with a Permitted Acquisition or other similar
Investment permitted hereunder, the greater of (1) 7.00 to 1.00 and (2) the Total Net Leverage Ratio for the Test Period most
recently ended calculated on a pro forma basis after giving effect to any such incurrence would be no greater than the Total Net
Leverage Ratio immediately prior to giving effect to such incurrence of Incremental Loans or establishment of Incremental Revolving Commitments,
or (II)(i) the Fixed Charge Coverage Ratio for the Test Period most recently ended calculated on a pro forma basis after giving effect
to such incurrence, would be at least either (x) 2.00 to 1.00 or (y) if such Indebtedness is incurred in connection with a Permitted
Acquisition or other Investment permitted hereunder, the lesser of (1) 2.00 to 1.00 and (2) the Fixed Charge Coverage Ratio
after giving effect to any such incurrence would be no less than the Fixed Charge Coverage Ratio immediately prior to giving effect to
such incurrence;

 

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provided
that any calculation of the Secured Net Leverage Ratio, the Fixed Charge Coverage Ratio or the Total Net Leverage Ratio shall be calculated
in accordance with Section 1.07 (assuming in the case of any Incremental Revolving Commitments, a full drawing of such Revolving
Commitments) and including a pro forma application of the net proceeds therefrom, as if the additional Indebtedness incurred pursuant
to clause (B) had been incurred and the application of the proceeds therefrom has occurred at the beginning of such Test Period,
but without netting the cash proceeds from such additional Indebtedness; provided, however, that if amounts incurred under
clause (B) are incurred concurrently with, or in a single transaction or series of related transactions with, the incurrence of Incremental
Loans or Incremental Commitments and/or Permitted Incremental Equivalent Debt (in each case, including any unused commitments obtained)
in reliance on clause (A) above, the Secured Net Leverage Ratio, the Total Net Leverage Ratio or the Fixed Charge Coverage Ratio
shall be calculated without giving effect to such amounts incurred (or commitments obtained) in reliance on the foregoing clause (A);
provided further, for the avoidance of doubt, to the extent the proceeds of any Incremental Loans are being utilized to repay Indebtedness
(including any repayment, repurchase or refinancing of Indebtedness for which an irrevocable notice of repayment (or similar notice of
repayment) has been delivered), such calculations shall give pro forma effect to such repayments (the amount available under clauses (A) and
(B), the “Available Incremental Amount”). The Borrower may elect to use clause (B) of the Available Incremental
Amount regardless of whether the Borrower has capacity under clause (A) of the Available Incremental Amount. Further, the Borrower
may elect to use clause (B) of the Available Incremental Amount prior to using clause (A) of the Available Incremental Amount,
and if both clause (B) and clause (A) of the Available Incremental Amount are available and the Borrower does not make an election,
then the Borrower will be deemed to have elected to use clause (B) of the Available Incremental Amount (and clause (A)(2) will
be deemed to be utilized prior to clause (A)(1)). In addition, any Indebtedness originally designated as incurred pursuant to clause
(A) of the Available Incremental Amount shall be reclassified, as the Borrower may elect from time to time, as incurred under clause
(B) of the Available Incremental Amount if the Borrower would meet the applicable leverage or coverage-based incurrence test at such
time on a pro forma basis.

 

(5)           Required
Terms. The terms, provisions and documentation of the Incremental Term Loans and Incremental Term Commitments or the Incremental Revolving
Loans and Incremental Revolving Commitments, as the case may be, of any Class and any Loan Increase shall be as agreed between the
Borrower and the applicable Incremental Lenders providing such Incremental Commitments, and except as otherwise set forth herein, to the
extent not identical to the any then outstanding Term Loans or Revolving Facility, as applicable, existing on the Incremental Facility
Closing Date, shall either, at the option of the Borrower, (A) reflect market terms and conditions (taken as a whole) at the time
of incurrence of such Indebtedness (as determined by the Borrower in good faith), (B) be not materially more restrictive to the Borrower
(as determined by the Borrower in good faith), when taken as a whole, than the terms of the any then outstanding Term Loans or Revolving
Facility, as applicable, except to the extent necessary to provide for (x) covenants and other terms applicable to any period after
the Latest Maturity Date in effect immediately prior to the incurrence of the Incremental Term Loans and Incremental Term Commitments
or the Incremental Revolving Loans and Incremental Revolving Commitments, as the case may be, or (y) subject to the immediately succeeding
proviso, a Previously Absent Financial Maintenance Covenant; provided that, notwithstanding anything to the contrary contained
herein, if any such terms of such Indebtedness contain a Previously Absent Financial Maintenance Covenant that is in effect prior to the
applicable Latest Maturity Date, such Previously Absent Financial Maintenance Covenant shall be included for the benefit of each Facility;
provided further, that if (x) such Indebtedness that includes a Previously Absent Financial Maintenance Covenant consists
of a revolving credit facility (whether or not the documentation therefor includes any other facilities) and (y) the applicable Previously
Absent Financial Maintenance Covenant is included only for the benefit of such revolving credit facility, the Previously Absent Financial
Maintenance Covenant shall not be required to be included in this Agreement for the benefit of any Term Facility hereunder or (C) if
neither clause (A) or (B) are satisfied, such terms, provisions and documentation shall be reasonably satisfactory to the Administrative
Agent; provided, further, that in the case of a Term Loan Increase or a Revolving Commitment Increase, the terms, provisions
and documentation of such Term Loan Increase or a Revolving Commitment Increase shall be identical (other than with respect to upfront
fees, OID or similar fees, it being understood that, if required to consummate such Loan Increase transaction, the interest rate margins
and rate floors may be increased, any call protection provision may be made more favorable to the applicable existing Lenders and additional
upfront or similar fees may be payable to the lenders providing the Loan Increase) to the applicable Term Loans or Revolving Commitments
being increased, in each case, as existing on the Incremental Facility Closing Date. In any event:

 

(a)           the
Incremental Term Loans:

 

(i)           (x) shall
rank equal or junior in priority in right of payment with the First Lien Obligations under this Agreement and (y) shall either (1) rank
equal (but without regard to the control of remedies) or junior in priority of right of security with the First Lien Obligations under
this Agreement (subject to an Intercreditor Agreement(s) reasonably acceptable to the Administrative Agent and the Borrower) or
(2) be unsecured, in each case as applicable pursuant to clause (4)(c) above,

 

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(ii)           shall
not mature earlier than the Original Term Loan Maturity Date,

 

(iii)          shall
have a Weighted Average Life to Maturity not shorter than the remaining Weighted Average Life to Maturity of the Term B Loans on
the date of incurrence of such Incremental Term Loans; provided that the effects of any amortization or prepayments made on the
Term Loans prior to the date of such incurrence will be disregarded,

 

(iv)           subject
to clause (5)(a)(iii) above and clause (5)(c) below, respectively, shall have amortization and an Applicable Rate determined
by the Borrower and the applicable Incremental Term Lenders,

 

(v)           may
participate on a pro rata basis, less than a pro rata basis or greater than a pro rata basis in any mandatory prepayments of Term Loans
hereunder (except that, unless otherwise permitted under this Agreement, such Incremental Term Loans may not participate on a greater
than a pro rata basis as compared to any earlier maturing Class of Term Loans constituting First Lien Obligations in any mandatory
prepayments under Section 2.05(2)(a), (b) and (d)(i)), as specified in the applicable Incremental Amendment,

 

(vi)           shall
be denominated in a currency as determined by the Borrower and the applicable Incremental Term Lenders, subject to the consent of the
Administrative Agent (not to be unreasonably withheld, delayed or conditioned), and

 

(vii)         shall
not at any time be guaranteed by any Subsidiary of the Borrower other than Subsidiaries that are Guarantors.

 

(b)           the
Incremental Revolving Commitments and Incremental Revolving Loans:

 

(i)           (x) shall
rank equal in priority in right of payment with the First Lien Obligations under this Agreement and (y) shall either (1) rank
equal (but without regard to the control of remedies) or junior in priority of right of security with the First Lien Obligations under
this Agreement or (2) be unsecured, in each case as applicable pursuant to clause (4)(c) above,

 

(ii)          shall
not mature earlier than the Original Revolving Facility Maturity Date, and shall not be subject to amortization,

 

(iii)         shall
provide that the borrowing and repayment (except for (1) payments of interest and fees at different rates on Incremental Revolving
Commitments (and related outstanding Incremental Revolving Loans), (2) repayments required upon the Maturity Date of any Revolving
Commitments, (3) repayments made in connection with any refinancing of Revolving Commitments and (4) repayment made in connection
with a permanent repayment and termination of Commitments (subject to clause (v) below)) of Revolving Loans with respect to
Incremental Revolving Commitments after the associated Incremental Facility Closing Date shall be made on a pro rata basis with all other
outstanding Revolving Commitments existing on such Incremental Facility Closing Date,

 

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(iv)         subject
to the provisions of Section 2.03(13) in connection with Letters of Credit which mature or expire after a Maturity Date at any time
Incremental Revolving Commitments with a later Maturity Date are outstanding, shall provide that all Letters of Credit shall be participated
on a pro rata basis by each Lender with a Revolving Commitment in accordance with its percentage of the Revolving Commitments existing
on the Incremental Facility Closing Date (and except as provided in Section 2.03(13), without giving effect to changes thereto on
an earlier Maturity Date with respect to Letters of Credit theretofore incurred or issued),

 

(v)           shall
provide that the permanent repayment of Revolving Loans with respect to, and termination of, Incremental Revolving Commitments after
the associated Incremental Facility Closing Date may be made on a pro rata basis or less than a pro rata basis (but not a greater than
pro rata basis) with all other Revolving Commitments existing on such Incremental Facility Closing Date, except that the Borrower shall
be permitted to permanently repay and terminate Commitments in respect of any such Class of Revolving Loans on a greater than pro
rata basis as compared to any other Class of Revolving Loans with a later Maturity Date than such Class or in connection with
any refinancing thereof,

 

(vi)         shall
provide that assignments and participations of Incremental Revolving Commitments and Incremental Revolving Loans shall be governed by
the same assignment and participation provisions applicable to Revolving Commitments and Revolving Loans existing on the Incremental Facility
Closing Date,

 

(vii)         shall
provide that any Incremental Revolving Commitments may constitute a separate Class or Classes, as the case may be, of Commitments
from the Classes constituting the applicable Revolving Commitments prior to the Incremental Facility Closing Date; provided at
no time shall there be Revolving Commitments hereunder (including Incremental Revolving Commitments and any original Revolving Commitments)
which have more than four (4) different Maturity Dates unless otherwise agreed to by the Administrative Agent,

 

(viii)       shall
have an Applicable Rate determined by the Borrower and the applicable Incremental Revolving Lenders,

 

(ix)           shall
be denominated in a currency as determined by the Borrower and the applicable Incremental Revolving Lenders, subject to the consent of
the Administrative Agent (not to be unreasonably withheld, delayed or conditioned), and

 

(x)           shall
not at any time be guaranteed by any Subsidiary of the Borrower other than Subsidiaries that are Guarantors.

 

(c)           the
amortization schedule applicable to any Incremental Term Loans and the All-In Yield applicable to the Incremental Term Loans of each Class shall
be determined by the Borrower and the applicable Incremental Term Lenders and shall be set forth in each applicable Incremental Amendment;
provided, however, that with respect to any syndicated Incremental Term Loans made under Incremental Term Commitments with
a maturity date within one year following the Latest Maturity Date that is incurred on or prior to the six month anniversary of the Closing
Date pursuant to clause (B) of the Available Incremental Amount that rank equal in priority of right of security with the First Lien
Obligations under this Agreement (but without regard to the control of remedies), the All-In Yield applicable to such Incremental Term
Loans shall not be greater than the applicable All-In Yield payable pursuant to the terms of this Agreement as amended through the date
of such calculation with respect to Term B Loans, plus 75 basis points per annum unless the Applicable Rate (together with, as
provided in the proviso below, the SOFR or Base Rate floor) with respect to the Term B Loans is increased so as to cause the then applicable
All-In Yield under this Agreement on the Term B Loans to equal the All-In Yield then applicable to the Incremental Term Loans, minus
75 basis points per annum; provided that any increase in All-In Yield on the Term B Loans due to the application of a SOFR or Base
Rate floor on any Incremental Term Loan shall be effected solely through an increase in (or implementation of, as applicable) the SOFR
or Base Rate floor applicable to such Term B Loans.

 

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(6)           Incremental
Amendment. Commitments in respect of Incremental Term Loans and Incremental Revolving Commitments shall become Commitments (or in
the case of an Incremental Revolving Commitment to be provided by an existing Revolving Lender, an increase in such Lender’s applicable
Revolving Commitment), under this Agreement pursuant to an amendment (an “Incremental Amendment”) to this Agreement
and, as appropriate, the other Loan Documents, executed by the Borrower, each Incremental Lender providing such Incremental Commitments
and the Administrative Agent. The Incremental Amendment may, without the consent of any other Loan Party, Agent or Lender, effect such
amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative
Agent and the Borrower, to effect the provisions of this Section 2.14. In connection with any Incremental Amendment, the Borrower
shall, if reasonably requested by the Administrative Agent, deliver customary reaffirmation agreements and/or such amendments to the Collateral
Documents as may be reasonably requested by the Administrative Agent in order to ensure that such Incremental Loans are provided with
the benefit of the applicable Loan Documents. The Borrower will use the proceeds (if any) of the Incremental Loans for any purpose not
prohibited by this Agreement. No Lender shall be obligated to provide any Incremental Commitments or Incremental Loans unless it so agrees.

 

(7)           Reallocation
of Revolving Exposure. Upon any Incremental Facility Closing Date on which Incremental Revolving Commitments are effected through
an increase in the Revolving Commitments with respect to any existing Revolving Facility pursuant to this Section 2.14, (a) each
of the Revolving Lenders under such Facility shall assign to each of the Incremental Revolving Lenders, and each of the Incremental Revolving
Lenders shall purchase from each of the Revolving Lenders, at the principal amount thereof, such interests in the Revolving Loans outstanding
on such Incremental Facility Closing Date as shall be necessary in order that, after giving effect to all such assignments and purchases,
such Revolving Loans will be held by existing Revolving Lenders and Incremental Revolving Lenders ratably in accordance with their Revolving
Commitments after giving effect to the addition of such Incremental Revolving Commitments to the Revolving Commitments, (b) each
Incremental Revolving Commitment shall be deemed for all purposes a Revolving Commitment and each Loan made thereunder shall be deemed,
for all purposes, a Revolving Loan and (c) each Incremental Revolving Lender shall become a Lender with respect to the Incremental
Revolving Commitments and all matters relating thereto. The Administrative Agent and the Lenders hereby agree that the minimum borrowing
and prepayment requirements in Section 2.02 and 2.05(1) of this Agreement shall not apply to the transactions effected pursuant
to the immediately preceding sentence

 

(8)           This
Section 2.14 shall supersede any provisions in Section 2.12, 2.13 or 10.01 to the contrary.

 

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SECTION 2.15     Refinancing
Amendments.

 

(1)           At
any time after the Closing Date, the Borrower may obtain, from any Lender or any Additional Lender (it being understood that no Lender
shall be required to provide any Other Loan without its consent), Other Loans to refinance all or any portion of the applicable Class or
Classes of Loans then outstanding under this Agreement which will be made pursuant to Other Term Loan Commitments, in the case of Other
Term Loans, and pursuant to Other Revolving Commitments, in the case of Other Revolving Loans, in each case pursuant to a Refinancing
Amendment; provided that such Other Loans and Other Revolving Commitments (i) shall rank equal in priority in right of payment
with the other Loans and Commitments hereunder, (ii) shall be unsecured or rank pari passu (without regard to the control
of remedies) or junior in right of security with any First Lien Obligations under this Agreement and, if secured on a junior basis, shall
be subject to an applicable Intercreditor Agreement(s), (iii) if secured, shall not be secured by any property or assets of the Borrower
or any Restricted Subsidiary other than the Collateral, (iv) shall not at any time be guaranteed by any Subsidiary of the Borrower
other than Subsidiaries that are Guarantors, (v)(A) shall have interest rates (including through fixed interest rates), interest
margins, rate floors, upfront fees, funding discounts, original issue discounts and prepayment terms and premiums as may be agreed by
the Borrower and the Lenders thereof and/or (B) may provide for additional fees and/or premiums payable to the Lenders providing
such Other Loans in addition to any of the items contemplated by the preceding clause (A), in each case, to the extent provided in
the applicable Refinancing Amendment, (vi) may have optional prepayment terms (including call protection and prepayment terms and
premiums) as may be agreed between the Borrower and the Lenders thereof, (vii) will have a final maturity date no earlier than, and,
in the case of Other Term Loans, will have a Weighted Average Life to Maturity equal to or greater than, the Term Loans or Revolving Commitments
being refinanced and (viii) will have such other terms and conditions (other than as provided in foregoing clauses (ii) through
(vii)) that either, at the option of the Borrower, (1) reflect market terms and conditions (taken as a whole) at the time of incurrence
of such Other Loans or Other Revolving Commitments (as determined by the Borrower in good faith), (2) if otherwise not consistent
with the terms of such Class of Loans or Commitments being refinanced, not be materially more restrictive to the Borrower (as determined
by the Borrower in good faith), when taken as a whole, than the terms of such Class of Loans or Commitments being refinanced, except
to the extent necessary to provide for (x) covenants and other terms applicable to any period after the Latest Maturity Date of the
Loans in effect immediately prior to such refinancing or (y) subject to the immediately succeeding proviso, a Previously Absent Financial
Maintenance Covenant; provided that, notwithstanding anything to the contrary contained herein, if any such terms of such Indebtedness
contain a Previously Absent Financial Maintenance Covenant that is in effect prior to the applicable Latest Maturity Date, such Previously
Absent Financial Maintenance Covenant shall be included for the benefit of each Facility; provided further, that if (x) such
Indebtedness that includes a Previously Absent Financial Maintenance Covenant consists of a revolving credit facility (whether or not
the documentation therefor includes any other facilities) and (y) the applicable Previously Absent Financial Maintenance Covenant
is included only for the benefit of such revolving credit facility, the Previously Absent Financial Maintenance Covenant shall not be
required to be included in this Agreement for the benefit of any Term Facility hereunder or (3) if neither clause (1) or (2) are
satisfied, such terms, provisions and documentation shall be otherwise reasonably satisfactory to the Administrative Agent. Any Other
Term Loans may participate on a pro rata basis, less than a pro rata basis or greater than a pro rata basis in any mandatory prepayments
of Term Loans hereunder (except that, unless otherwise permitted under this Agreement or unless the Class of Term Loans being refinanced
was so entitled to participate on a greater than a pro rata basis in such mandatory prepayments, such Other Term Loans may not participate
on a greater than a pro rata basis as compared to any earlier maturing Class of Term Loans constituting First Lien Obligations in
any mandatory prepayments under Section 2.05(2)(a), (b) and (d)(i)), as specified in the applicable Refinancing Amendment. All
Other Revolving Commitments shall provide that all borrowings under the applicable Revolving Commitments and repayments thereunder shall
be made on a pro rata basis (except for (1) payments of interest and fees at different rates on Other Revolving Commitments (and
related outstanding Other Revolving Loans), (2) repayments required upon the Maturity Date of the Revolving Commitments, (3) repayments
made in connection with any refinancing of Revolving Commitments and (4) repayment made in connection with a permanent repayment
and termination of Commitments). In connection with any Refinancing Amendment, the Borrower shall, if reasonably requested by the Administrative
Agent, deliver customary reaffirmation agreements and/or such amendments to the Collateral Documents as may be reasonably requested by
the Administrative Agent in order to ensure that such Other Loans or Other Revolving Commitments are provided with the benefit of the
applicable Loan Documents.

 

(2)           Each
Class of Other Commitments and Other Loans incurred under this Section 2.15 shall be in an aggregate principal amount that is
not less than $5.0 million. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Refinancing Amendment.
Each of the parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended
to the extent (but only to the extent) necessary to reflect the existence and terms of the Other Commitments and Other Loans incurred
pursuant thereto (including any amendments necessary to treat the Other Loans and/or Other Commitments as Loans and Commitments). Any
Refinancing Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents
as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of
this Section 2.15.

 

(3)           This
Section 2.15 shall supersede any provisions in Section 2.12, 2.13 or 10.01 to the contrary.

 

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SECTION 2.16     Extensions
of Loans.

 

(1)           Extension
of Term Loans. The Borrower may at any time and from time to time request that all or a portion of the Term Loans of any Class (each,
an “Existing Term Loan Class”) be converted or exchanged to extend the scheduled Maturity Date(s) of any payment
of principal with respect to all or a portion of any principal amount of such Term Loans (any such Term Loans which have been so extended,
 “Extended Term Loans”) and to provide for other terms consistent with this Section 2.16. Prior to entering into
any Extension Amendment with respect to any Extended Term Loans, the Borrower shall provide written notice to the Administrative Agent
(who shall provide a copy of such notice to each of the Lenders under the applicable Existing Term Loan Class, with such request offered
equally to all such Lenders of such Existing Term Loan Class) (each, a “Term Loan Extension Request”) setting forth
the proposed terms of the Extended Term Loans to be established, which terms shall be identical in all material respects to the Term Loans
of the Existing Term Loan Class from which they are to be extended except that (i) the scheduled final maturity date shall be
extended and all or any of the scheduled amortization payments, if any, of all or a portion of any principal amount of such Extended Term
Loans may be delayed to later dates than the scheduled amortization, if any, of principal of the Term Loans of such Existing Term Loan
Class (with any such delay resulting in a corresponding adjustment to the scheduled amortization payments reflected in the Extension
Amendment, the Incremental Amendment, the Refinancing Amendment or any other amendment, as the case may be, with respect to the Existing
Term Loan Class from which such Extended Term Loans were extended), (ii)(A) the interest rates (including through fixed interest
rates), interest margins, rate floors, upfront fees, funding discounts, original issue discounts and voluntary prepayment terms and premiums
with respect to the Extended Term Loans may be different than those for the Term Loans of such Existing Term Loan Class and/or (B) additional
fees and/or premiums may be payable to the Lenders providing such Extended Term Loans in addition to any of the items contemplated by
the preceding clause (A), in each case, to the extent provided in the applicable Extension Amendment, (iii) the Extended Term
Loans may have optional prepayment terms (including call protection and prepayment terms and premiums) as may be agreed between the Borrower
and the Lenders thereof, (iv) any Extended Term Loans may participate on a pro rata basis, less than a pro rata basis or greater
than a pro rata basis in any mandatory prepayments of Term Loans hereunder (except that, unless otherwise permitted under this Agreement,
such Extended Term Loans may not participate on a greater than pro rata basis as compared to any earlier maturing Class of Term Loans
in any mandatory prepayments under Section 2.05(2)(a), (b) and (d)(i)), in each case as specified in the respective Term Loan
Extension Request and (v) the Extension Amendment may provide for (x) other covenants and terms that apply to any period after
the Latest Maturity Date in respect of Term Loans that is in effect immediately prior to the establishment of such Extended Term Loans
and (y) subject to the immediately succeeding proviso, a Previously Absent Financial Maintenance Covenant; provided that,
notwithstanding anything to the contrary contained herein, if any such terms of such Extended Term Loans contain a Previously Absent Financial
Maintenance Covenant that is in effect prior to the applicable Latest Maturity Date, such Previously Absent Financial Maintenance Covenant
shall be included for the benefit of each Facility. No Lender shall have any obligation to agree to have any of its Term Loans of any
Existing Term Loan Class converted into Extended Term Loans pursuant to any Term Loan Extension Request and any Lender that does
not provide a response to any Term Loan Extension Request shall be deemed to have declined to convert its Term Loans into Extended Term
Loans. Any Extended Term Loans extended pursuant to any Term Loan Extension Request shall be designated a series (each, a “Term
Loan Extension Series”) of Extended Term Loans for all purposes of this Agreement and shall constitute a separate Class of
Loans from the Existing Term Loan Class from which they were extended; provided that any Extended Term Loans amended from
an Existing Term Loan Class may, to the extent provided in the applicable Extension Amendment, be designated as an increase in any
previously established Term Loan Extension Series with respect to such Existing Term Loan Class.

 

(2)           Extension
of Revolving Commitments. The Borrower may at any time and from time to time request that all or a portion of the Revolving Commitments
of any Class (each, an “Existing Revolving Class”) be converted or exchanged to extend the scheduled Maturity
Date(s) of any payment of principal with respect to all or a portion of any principal amount of such Revolving Commitments (any such
Revolving Commitments which have been so extended, “Extended Revolving Commitments”) and to provide for other terms
consistent with this Section 2.16. Prior to entering into any Extension Amendment with respect to any Extended Revolving Commitments,
the Borrower shall provide written notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders
under the applicable Existing Revolving Class, with such request offered equally to all such Lenders of such Existing Revolving Class)
(each, a “Revolving Extension Request”) setting forth the proposed terms of the Extended Revolving Commitments to be
established, which terms shall be identical in all material respects to the Revolving Commitments of the Existing Revolving Class from
which they are to be extended except that (i) the scheduled final maturity date shall be extended to a later date than the scheduled
final maturity date of the Revolving Commitments of such Existing Revolving Class; provided, however, that at no time shall
there be Classes of Revolving Commitments hereunder (including Extended Revolving Commitments) which have more than four (4) different
Maturity Dates (unless otherwise consented to by the Administrative Agent), (ii)(A) the interest rates (including through fixed interest
rates), interest margins, rate floors, upfront fees, funding discounts, original issue discounts and voluntary prepayment terms and premiums
with respect to the Extended Revolving Commitments may be different than those for the Revolving Commitments of such Existing Revolving
Class and/or (B) additional fees and/or premiums may be payable to the Lenders providing such Extended Revolving Commitments
in addition to any of the items contemplated by the preceding clause (A), in each case, to the extent provided in the applicable
Extension Amendment, (iii) all borrowings under the applicable Revolving Commitments (i.e., the Existing Revolving Class and
the Extended Revolving Commitments of the applicable Revolving Extension Series) and repayments thereunder shall be made on a pro rata
basis (except for (I) payments of interest and fees at different rates on Extended Revolving Commitments (and related outstanding
Extended Revolving Loans), (II) repayments required upon the Maturity Date of the non-extending Revolving Commitments, (III) repayments
made in connection with any refinancing of Revolving Commitments and (IV) repayments made in connection with a permanent repayment
and termination of Commitments), and (iv) the Extension Amendment may provide for (x) other covenants and terms that apply to
any period after the Latest Maturity Date in respect of Revolving Commitments that is in effect immediately prior to the establishment
of such Extended Revolving Commitments and (y) subject to the immediately succeeding proviso, a Previously Absent Financial Maintenance
Covenant; provided that, notwithstanding anything to the contrary contained herein, if any such terms of such Extended Revolving
Commitments contain a Previously Absent Financial Maintenance Covenant that is in effect prior to the applicable Latest Maturity Date,
such Previously Absent Financial Maintenance Covenant shall be included for the benefit of each Class of Revolving Commitments. No
Lender shall have any obligation to agree to have any of its Revolving Commitments of any Existing Revolving Class converted into
Extended Revolving Commitments pursuant to any Revolving Extension Request. Any Extended Revolving Commitments extended pursuant to any
Revolving Extension Request shall be designated a series (each, a “Revolving Extension Series”) of Extended Revolving
Commitments for all purposes of this Agreement and shall constitute a separate Class of Revolving Commitments from the Existing Revolving
Class from which they were extended; provided that any Extended Revolving Commitments amended from an Existing Revolving Class may,
to the extent provided in the applicable Extension Amendment, be designated as an increase in any previously established Revolving Extension
Series with respect to such Existing Revolving Class.

 

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(3)           Extension
Request. The Borrower shall provide the applicable Extension Request to the Administrative Agent at least five (5) Business Days
(or such shorter period as the Administrative Agent may determine in its sole discretion) prior to the date on which Lenders under the
applicable Existing Term Loan Class or Existing Revolving Class, as applicable, are requested to respond. Any Lender holding a Term
Loan under an Existing Term Loan Class (each, an “Extending Term Lender”) wishing to have all or a portion of
its Term Loans of an Existing Term Loan Class or Existing Term Loan Classes, as applicable, subject to such Extension Request converted
or exchanged into Extended Term Loans, and any Revolving Lender with a Revolving Commitment under an Existing Revolving Class (each,
an “Extending Revolving Lender”) wishing to have all or a portion of its Revolving Commitments of an Existing Revolving
Class or Existing Revolving Classes, as applicable, subject to such Extension Request converted or exchanged into Extended Revolving
Commitments, as applicable, shall notify the Administrative Agent (each, an “Extension Election”) on or prior to the
date specified in such Extension Request of the amount of its Term Loans or Revolving Commitments, as applicable, which it has elected
to convert or exchange into Extended Term Loans or Extended Revolving Commitments, as applicable. In the event that the aggregate principal
amount of Term Loans and/or Revolving Commitments, as applicable, subject to Extension Elections exceeds the amount of Extended Term Loans
and/or Extended Revolving Commitments, respectively, requested pursuant to the Extension Request, Term Loans and/or Revolving Commitments,
as applicable, subject to Extension Elections shall be converted or exchanged into Extended Term Loans and/or Revolving Commitments, respectively,
on a pro rata basis (subject to such rounding requirements as may be established by the Administrative Agent) based on the aggregate principal
amount of Term Loans or Revolving Commitments, as applicable, included in each such Extension Election or as may be otherwise agreed to
in the applicable Extension Amendment.

 

(4)           Extension
Amendment. Extended Term Loans and Extended Revolving Commitments shall be established pursuant to an amendment (each, an “Extension
Amendment”) to this Agreement (which, notwithstanding anything to the contrary set forth in Section 10.01, shall not require
the consent of any Lender other than the Extending Lenders with respect to the Extended Term Loans and/or Extended Revolving Commitments
established thereby, as the case may be) executed by the Borrower, the Administrative Agent and the Extending Lenders, it being understood
that such Extension Amendment shall not require the consent of any Lender other than (A) the Extending Lenders with respect to the
Extended Term Loans or Extended Revolving Commitments, as applicable, established thereby and (B) with respect to any extension of
the Revolving Commitments that results in an extension of Issuing Bank’s obligations with respect to Letters of Credit, the consent
of such Issuing Bank. Each request for an Extension Series of Extended Term Loans or Extended Revolving Commitments proposed to be
incurred under this Section 2.16 shall be in an aggregate principal amount that is not less than $5.0 million (it being understood
that the actual principal amount thereof provided by the applicable Lenders may be lower than such minimum amount), and the Borrower may
condition the effectiveness of any Extension Amendment on an Extension Minimum Condition, which may be waived by the Borrower in its sole
discretion. In addition to any terms and changes required or permitted by Sections 2.16(1) and (2), each of the parties hereto agrees
that this Agreement and the other Loan Documents may be amended pursuant to an Extension Amendment, without the consent of any other Lenders,
to the extent necessary to (i) in respect of each Extension Amendment in respect of Extended Term Loans, amend the scheduled amortization
payments pursuant to Section 2.07 or the applicable Incremental Amendment, Extension Amendment, Refinancing Amendment or other amendment,
as the case may be, with respect to the Existing Term Loan Class from which the Extended Term Loans were exchanged to reduce each
scheduled repayment amount for the Existing Term Loan Class in the same proportion as the amount of Term Loans of the Existing Term
Loan Class is to be reduced pursuant to such Extension Amendment (it being understood that the amount of any repayment amount payable
with respect to any individual Term Loan of such Existing Term Loan Class that is not an Extended Term Loan shall not be reduced
as a result thereof); (ii) reflect the existence and terms of the Extended Term Loans or Extended Revolving Commitments, as applicable,
incurred pursuant thereto; (iii) modify the prepayments set forth in Section 2.05 to reflect the existence of the Extended Term
Loans and the application of prepayments with respect thereto and (iv) effect such other amendments to this Agreement and the other
Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the
provisions of this Section 2.16, and the Lenders hereby expressly authorize the Administrative Agent to enter into any such Extension
Amendment. In connection with any Extension Amendment, the Borrower shall, if reasonably requested by the Administrative Agent, deliver
customary reaffirmation agreements and/or such amendments to the Collateral Documents as may be reasonably requested by the Administrative
Agent in order to ensure that such Extended Term Loans and/or Extended Revolving Commitments are provided with the benefit of the applicable
Loan Documents.

 

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(5)           Notwithstanding
anything to the contrary contained in this Agreement, on any date on which any Existing Term Loan Class and/or Existing Revolving
Class is converted or exchanged to extend the related scheduled maturity date(s) in accordance with paragraphs (1) and
(2) of this Section 2.16, in the case of the existing Term Loans or Revolving Commitments, as applicable, of each Extending
Lender, the aggregate principal amount of such existing Loans shall be deemed reduced by an amount equal to the aggregate principal amount
of Extended Term Loans and/or Extended Revolving Commitments, respectively, so converted or exchanged by such Lender on such date, and
the Extended Term Loans and/or Extended Revolving Commitments shall be established as a separate Class of Loans, except as otherwise
provided under Sections 2.16(1) and (2). Subject to the provisions of Section 2.03(13) in connection with Letters of Credit
which mature or expire after a Maturity Date at any time Extended Revolving Commitments with a later Maturity Date are outstanding, all
Letters of Credit shall be participated on a pro rata basis by each Lender with a Revolving Commitment in accordance with its percentage
of the Revolving Commitments existing on the date of the Extension of such Extended Revolving Commitments (and except as provided in Section 2.03(13),
without giving effect to changes thereto on an earlier Maturity Date with respect to Letters of Credit theretofore incurred or issued).

 

(6)           In
the event that the Administrative Agent determines in its sole discretion that the allocation of Extended Term Loans and/or Extended Revolving
Commitments of a given Extension Series to a given Lender was incorrectly determined as a result of manifest administrative error
in the receipt and processing of an Extension Election timely submitted by such Lender in accordance with the procedures set forth in
the applicable Extension Amendment, then the Administrative Agent, the Borrower and such affected Lender may (and hereby are authorized
to), in their sole discretion and without the consent of any other Lender, enter into an amendment to this Agreement and the other Loan
Documents (each, a “Corrective Extension Amendment”) within 15 days following the effective date of such Extension
Amendment, as the case may be, which Corrective Extension Amendment shall (i) provide for the conversion or exchange and extension
of Term Loans under the Existing Term Loan Class, or of Revolving Commitments under the Existing Revolving Class, in either case, in such
amount as is required to cause such Lender to hold Extended Term Loans or Extended Revolving Commitments, as applicable, of the applicable
Extension Series into which such other Term Loans or Revolving Commitments were initially converted or exchanged, as the case may
be, in the amount such Lender would have held had such administrative error not occurred and had such Lender received the minimum allocation
of the applicable Loans or Commitments to which it was entitled under the terms of such Extension Amendment, in the absence of such error,
(ii) be subject to the satisfaction of such conditions as the Administrative Agent, the Borrower and such Extending Term Lender or
Extending Revolving Lender, as applicable, may agree, and (iii) effect such other amendments of the type (with appropriate reference
and nomenclature changes) described in the penultimate sentence of Section 2.16(4).

 

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(7)           No
conversion or exchange of Loans or Commitments pursuant to any Extension Amendment in accordance with this Section 2.16 shall constitute
a voluntary or mandatory payment or prepayment for purposes of this Agreement

 

(8)           This
Section 2.16 shall supersede any provisions in Section 2.12, 2.13 or 10.01 to the contrary.

 

SECTION 2.17     Defaulting
Lenders.

 

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

 

(a)           Waivers
and Amendments. That Defaulting Lender’s right to approve or disapprove of any amendment, waiver or consent with respect to
this Agreement shall be restricted as set forth in Section 10.01.

 

(b)           Reallocation
of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of that
Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise), shall be applied at such
time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that Defaulting
Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender
to the relevant Issuing Banks hereunder; third, if so determined by the Administrative Agent or requested by the relevant Issuing Banks,
to be held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Letter of Credit; fourth,
as the Borrower may request (so long as no Default has occurred and is continuing), to the funding of any Loan in respect of which that
Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth,
if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order
to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement; sixth, to the payment of any amounts owing to the
Lenders or the relevant Issuing Banks as a result of any judgment of a court of competent jurisdiction obtained by any Lender or the relevant
Issuing Banks against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement;
seventh, so long as no Default has occurred and is continuing, to the payment of any amounts owing to the Borrower as a result of any
judgment of a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s
breach of its obligations under this Agreement; and eighth, to that Defaulting Lender or as otherwise directed by a court of competent
jurisdiction; provided that if (i) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect
of which that Defaulting Lender has not fully funded its appropriate share and (ii) such Loans or L/C Borrowings were made at a time
when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of,
and L/C Borrowings owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C
Borrowings owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are
applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.17(1)(b) shall
be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

 

(c)           Certain
Fees. That Defaulting Lender (i) shall not be entitled to receive any commitment fee pursuant to Section 2.09(1) for
any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise
would have been required to have been paid to that Defaulting Lender) and (ii) shall be limited in its right to receive Letter of
Credit fees as provided in Section 2.03(9).

 

(d)           Reallocation
of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing
the amount of the obligation of each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant
to Section 2.03, the “Applicable Percentage” of each Non-Defaulting Lender’s Revolving Loans and L/C Obligations
shall be computed without giving effect to the Commitment of that Defaulting Lender; provided that (i) each such reallocation
shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default has occurred and is continuing;
and (ii) the aggregate obligation of each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit
shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that Non-Defaulting Lender minus (2) the
aggregate Outstanding Amount of the Revolving Loans of that Non-Defaulting Lender.

 

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(2)           Defaulting
Lender Cure. If the Borrower, the Administrative Agent and the Issuing Banks agree in writing in their sole discretion that a Defaulting
Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as
of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect
to any Cash Collateral), that Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or
take such other actions as the Administrative Agent may determine to be necessary to cause the Revolving Loans and funded and unfunded
participations in Letters of Credit to be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without
giving effect to Section 2.17(1)(d)), whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments
will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting
Lender; provided further that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from
Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender having been
a Defaulting Lender.

 

SECTION 2.18     Loan
Repricing Protection. In the event that, on or prior to the six month anniversary of the Closing Date, the Borrower (a) makes
any prepayment or refinancing of Term B Loans in connection with any Repricing Transaction (including any mandatory assignment pursuant
to Section 3.07 of any Non-Consenting Lender), or (b) effects any amendment, amendment and restatement or other modification
of this Agreement resulting in a Repricing Transaction in respect of the Term B Loans, the Borrower shall pay to the Administrative Agent,
for the ratable account of each applicable Lender, (i) in the case of clause (a), a prepayment premium of 1.00% of the aggregate
principal amount of the Term B Loans being prepaid, refinanced or assigned and (ii) in the case of clause (b), a payment equal
to 1.00% of the aggregate principal amount of the applicable Term B Loans outstanding immediately prior to such amendment, amendment and
restatement or modification that is subject to such Repricing Transaction.

 

Article III

 

Taxes, Increased Costs Protection and
Illegality

 

SECTION 3.01     Taxes.

 

(1)           Except
as required by applicable Law, all payments by or on account of any Loan Party to or for the account of any Agent or any Lender under
any Loan Document shall be made free and clear of and without deduction or withholding for any Taxes.

 

(2)           If
any Loan Party or any other applicable withholding agent is required by applicable Law to make any deduction or withholding on account
of any Taxes from any sum paid or payable by or on account of any Loan Party to or for the account of any Lender or Agent under any of
the Loan Documents:

 

(a)           the
applicable Loan Party shall notify the Administrative Agent of any such requirement or any change in any such requirement as soon as such
Loan Party becomes aware of it;

 

(b)           the
applicable Loan Party or other applicable withholding agent shall be entitled to make such deduction or withholding and pay to the relevant
Governmental Authority any such Tax before the date on which penalties attach thereto, such payment to be made (if the liability to pay
is imposed on any Loan Party) for such Loan Party’s account or (if that liability is imposed on the Lender or Agent) on behalf of
and in the name of the Lender or Agent (as applicable);

 

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(c)           if
the Tax in question is a Non-Excluded Tax or Other Tax, the sum payable to such Lender or Agent (as applicable) shall be increased by
such Loan Party to the extent necessary to ensure that, after the making of any required deduction or withholding for Non-Excluded Taxes
or Other Taxes (including any deductions or withholdings for Non-Excluded Taxes or Other Taxes attributable to any payments required to
be made under this Section 3.01), such Lender (or, in the case of any payment made to the Administrative Agent for its own account,
the Administrative Agent) receives on the due date a net sum equal to what it would have received had no such deduction or withholding
been required or made; and

 

(d)           within
thirty days after paying any sum from which it is required by Law to make any deduction or withholding, and within thirty days after the
due date of payment of any Tax which it is required by clause (b) above to pay (or, in each case, as soon as reasonably practicable
thereafter), the Borrower shall deliver to the Administrative Agent evidence reasonably satisfactory to the other affected parties of
such deduction or withholding and of the remittance thereof to the relevant Governmental Authority.

 

(3)           Status
of Lender. Each Lender shall, at such times as are reasonably requested by the Borrower or the Administrative Agent, provide the Borrower
and the Administrative Agent with any documentation prescribed by Laws or reasonably requested by the Borrower or the Administrative Agent
certifying as to any entitlement of such Lender to an exemption from, or reduction in, withholding Tax with respect to any payments to
be made to such Lender under any Loan Document. 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 paragraphs (3)(a), (3)(b)(i)-(iv) and (3)(c) of
this Section) shall not be required if in the Lender’s reasonable 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.
Each such Lender shall, whenever a lapse in time or change in circumstances renders any such documentation (including any specific documentation
required below in this Section 3.01(3)) obsolete, expired or inaccurate in any material respect, deliver promptly to the Borrower
and the Administrative Agent updated or other appropriate documentation (including any new documentation reasonably requested by the Borrower
or the Administrative Agent) or promptly notify the Borrower and Administrative Agent of its legal ineligibility to do so.

 

Without limiting the foregoing:

 

(a)           Each
U.S. Lender shall deliver to the Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement
two properly completed and duly signed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding.

 

(b)           Each
Foreign Lender shall deliver (to the extent it is legally entitled to do so) to the Borrower and the Administrative Agent on or before
the date on which it becomes a party to this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative
Agent) whichever of the following is applicable:

 

(i)           two
properly completed and duly signed copies of IRS Form W-8BEN or W-8BEN-E (or any successor forms) claiming eligibility for the benefits
of an income tax treaty to which the United States is a party, and such other documentation as required under the Code,

 

(ii)           two
properly completed and duly signed copies of IRS Form W-8ECI (or any successor forms),

 

(iii)           in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 871(h) or Section 881(c) of
the Code, (A) two properly completed and duly signed certificates substantially in the form of Exhibit H (any such certificate,
a “United States Tax Compliance Certificate”) and (B) two properly completed and duly signed copies of IRS Form W-8BEN
or W-8BEN-E (or any successor forms),

 

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(iv)           to
the extent a Foreign Lender is not the beneficial owner (for example, where such Foreign Lender is a partnership or a participating Lender), IRS
Form W-8IMY (or any successor forms) of such Foreign Lender, accompanied by an IRS Form W-8ECI, Form W-8BEN or W-8BEN-E,
United States Tax Compliance Certificate, Form W-9, Form W-8IMY and any other required information (or any successor forms)
from each beneficial owner that would be required under this Section 3.01(3) if such beneficial owner were a Lender, as applicable
(provided that, if a Lender is a partnership (and not a participating Lender) and if one or more beneficial owners are claiming
the portfolio interest exemption, the United States Tax Compliance Certificate may be provided by such Foreign Lender on behalf of such
beneficial owner(s)), or

 

(v)           two
properly completed and duly signed copies of any other documentation prescribed by applicable U.S. federal income tax laws (including
the Treasury Regulations) as a basis for claiming a complete exemption from, or a reduction in, U.S. federal withholding tax on any payments
to such Lender under the Loan Documents.

 

(c)           If
a payment made to a Lender under any Loan 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 Sections 1471(b) or 1472(b) of
the 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 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, to determine whether such Lender has complied with such Lender’s obligations under FATCA or to determine the amount,
if any, to deduct and withhold from such payment. Solely for purposes of this paragraph (c), the term “FATCA” shall include
any amendments made to FATCA after the date of this Agreement.

 

For the avoidance of doubt, if a Lender is an entity disregarded from
its owner for U.S. federal income tax purposes, references to the foregoing documentation are intended to refer to documentation with
respect to such Lender’s owner and, as applicable, such Lender.

 

Notwithstanding any other provision of this Section 3.01(3), a
Lender shall not be required to deliver any documentation that such Lender is not legally eligible to deliver. Each Lender hereby authorizes
the Administrative Agent to deliver to the Loan Parties and to any successor Administrative Agent any documentation provided by such Lender
to the Administrative Agent pursuant to this Section 3.01(3).

 

(4)           Without
duplication of other amounts payable by the Borrower pursuant to Section 3.01(2), the Borrower shall pay any Other Taxes to the relevant
Governmental Authority in accordance with applicable Law.

 

(5)           The
Loan Parties shall, jointly and severally, indemnify a Lender or the Administrative Agent (each a “Tax Indemnitee”),
within 10 days after written demand therefor, for the full amount of any Non-Excluded Taxes paid or payable by such Tax Indemnitee on
or attributable to any payment under or with respect to any Loan Document, and any Other Taxes payable by such Tax Indemnitee (including
Non-Excluded Taxes or Other Taxes imposed on or attributable to amounts payable under this Section 3.01) (other than any penalties
determined by a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the gross negligence, bad
faith or willful misconduct of such Tax Indemnitee), whether or not such Taxes were correctly or legally imposed or asserted by the Governmental
Authority; provided that if the Borrower reasonably believes that such Taxes were not correctly or legally asserted, such Tax Indemnitee
will use reasonable efforts to cooperate with the Borrower to obtain a refund of such Taxes (which shall be repaid to the Borrower in
accordance with Section 3.01(6)) so long as such efforts would not, in the sole determination of such Tax Indemnitee, result in any
additional out-of-pocket costs or expenses not reimbursed by such Loan Party or be otherwise materially disadvantageous to such Tax Indemnitee.
A certificate as to the amount of such payment or liability prepared in good faith and delivered by the Tax Indemnitee or by the Administrative
Agent on behalf of another Tax Indemnitee, shall be conclusive absent manifest error.

 

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(6)           If
and to the extent that a Tax Indemnitee, in its sole discretion (exercised in good faith), determines that it has received a refund (whether
received in cash or applied as a credit against any other cash Taxes payable) of any Non-Excluded Taxes or Other Taxes in respect of which
it has received indemnification payments or additional amounts under this Section 3.01, then such Tax Indemnitee shall pay to the
relevant Loan Party the amount of such refund (but only to the extent of indemnity payments made under this Section with respect
to the Taxes giving rise to such refund), net of all out-of-pocket expenses of the Tax Indemnitee (including any Taxes imposed with respect
to such refund), and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund),
provided that the Loan Party, upon the request of the Tax Indemnitee, agrees to repay the amount paid over by the Tax Indemnitee
(plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Tax Indemnitee to the extent
the Tax Indemnitee is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 3.01(6),
in no event will the Tax Indemnitee be required to pay any amount to a Loan Party pursuant to this Section 3.01(6) the payment
of which would place the Tax Indemnitee in a less favorable net after-Tax position than the Tax Indemnitee 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 with respect to such Tax had never been paid. This subsection shall not be construed to require a Tax Indemnitee
to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to any Loan Party or any
other Person.

 

(7)           On
or before the date the Administrative Agent becomes a party to this Agreement, the Administrative Agent shall deliver to the Borrower
whichever of the following is applicable: (i) if the Administrative Agent is a “United States person” within the meaning
of Section 7701(a)(30) of the Code, two executed original copies of IRS Form W-9 certifying that such Administrative Agent is
exempt from U.S. federal backup withholding or (ii) if the Administrative Agent is not a “United States person” within
the meaning of Section 7701(a)(30) of the Code, (A) with respect to payments received for its own account, two executed original
copies of IRS Form W-8ECI and (ii) with respect to payments received on account of any Lender, two executed original copies
of IRS Form W-8IMY (together with all required accompanying documentation) certifying that the Administrative Agent is a U.S. branch
and may be treated as a United States person for purposes of applicable U.S. federal withholding Tax. At any time thereafter, the Administrative
Agent shall provide updated documentation previously provided (or a successor form thereto) when any documentation previously delivered
has expired or become obsolete or invalid or otherwise upon the reasonable request of the Borrower. Notwithstanding anything to the contrary
in this Section 3.01(7), the Administrative Agent shall not be required to provide any documentation that the Administrative Agent
is not legally eligible to deliver as a result of a Change in Law after the Closing Date.

 

(8)           The
agreements in this Section 3.01 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 Loan Document.

 

(9)           For
the avoidance of doubt, for purposes of this Section 3.01, the term “Lender” includes any Issuing Bank and the term “applicable
Law” includes FATCA.

 

SECTION 3.02     Illegality.
If any Lender reasonably determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted that
it is unlawful, for such Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference
to SOFR, or to determine or charge interest rates based upon SOFR, then, on written notice thereof by such Lender to the Borrower through
the Administrative Agent, (1) any obligation of such Lender to make or continue SOFR Loans or to convert Base Rate Loans to SOFR
Loans shall be suspended, and (2) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the
interest rate on which is determined by reference to the SOFR component of the Base Rate, the interest rate on which Base Rate Loans of
such Lender shall, if necessary to avoid such illegality, be reasonably determined by the Administrative Agent without reference to the
SOFR component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances
giving rise to such determination no longer exist. Upon receipt of such notice, (a) the Borrower may revoke any pending request for
a Borrowing of, conversion to or continuation of SOFR Loans and shall, upon demand from such Lender (with a copy to the Administrative
Agent), prepay or, if applicable, convert all SOFR Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans
of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the SOFR component
of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such SOFR
Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such SOFR Loans and (b) if such notice asserts
the illegality of such Lender determining or charging interest rates based upon the SOFR component of the Base Rate with respect to any
Base Rate Loans, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without
reference to the SOFR component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal
for such Lender to determine or charge interest rates based upon SOFR. Upon any such prepayment or conversion, the Borrower shall also
pay accrued interest on the amount so prepaid or converted.

 

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SECTION 3.03     Inability
to Determine Rates.

 

(a)           If
the Administrative Agent (in the case of clause (1) below) or the Required Lenders (in the case of clause (2) below) reasonably
determine that for any reason in connection with any request for a SOFR Loan or a conversion to or continuation thereof that:

 

(1)           adequate
and reasonable means do not exist for determining SOFR for any requested Interest Period with respect to a proposed SOFR Loan or in connection
with an existing or proposed Base Rate Loan, or

 

(2)           SOFR
for any requested Interest Period with respect to a proposed SOFR Loan does not adequately and fairly reflect the cost to such Lenders
of funding such Loan,

 

the Administrative Agent will promptly so notify
the Borrower and each Lender. Thereafter, (i) the obligation of the Lenders to make or maintain SOFR Loans shall be suspended, and
(ii) in the event of a determination described in the preceding sentence with respect to the SOFR component of the Base Rate, the
utilization of the SOFR component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon the
instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for
a Borrowing of, conversion to or continuation of SOFR Loans or, failing that, will be deemed to have converted such request into a request
for a Borrowing of Base Rate Loans in the amount specified therein.

 

(b)           Benchmark
Replacement Setting.

 

(i)           Notwithstanding
anything to the contrary herein or in any other Loan Document (and any Hedge Agreement shall be deemed not to be a “Loan Document”
for purposes of Section 3.03), if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior
to any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (a) of
the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such
Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings
without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if
a Benchmark Replacement is determined in accordance with clause (b) of the definition of “Benchmark Replacement” for
such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan
Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the
date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other
party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice
of objection to such Benchmark Replacement from Lenders comprising the Required Lenders.

 

(ii)           In
connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Administrative Agent will have the
right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document,
any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to
this Agreement or any other Loan Document.

 

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(iii)           The
Administrative Agent will promptly notify the Borrower and the Lenders of (i) the implementation of any Benchmark Replacement and
(ii) the effectiveness of any Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark
Replacement. The Administrative Agent will promptly notify the Borrower of the removal or reinstatement of any tenor of a Benchmark pursuant
to Section 3.03(b)(iv). Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any
Lender (or group of Lenders) pursuant to Section 3.03, including any determination with respect to a tenor, rate or adjustment
or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or
any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent
from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to Section 3.03.

 

(iv)           Notwithstanding
anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark
Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Reference Rate) and either (A) any tenor
for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by
the Administrative Agent in its reasonable discretion or (B) the administrator of such Benchmark or the regulatory supervisor for
the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark
is or will be no longer representative or in compliance with or aligned with the IOSCO Principles for Financial Benchmarks, then the Administrative
Agent may modify the definition of “Interest Period” (or any similar or analogous definition) for any Benchmark settings at
or after such time to remove such unavailable or non-representative or non-compliant or non-aligned tenor and (ii) if a tenor that
was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark
(including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will no longer be representative
or in compliance with or aligned with the IOSCO Principles for Financial Benchmarks for a Benchmark (including a Benchmark Replacement),
then the Administrative Agent may modify the definition of “Interest Period” (or any similar or analogous definition) for
all Benchmark settings at or after such time to reinstate such previously removed tenor.

 

(v)           Upon
the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for
a SOFR Borrowing of, conversion to or continuation of SOFR Loans to be made, converted or continued during any Benchmark Unavailability
Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion
to Base Rate Loans. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available
Tenor, the component of Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used
in any determination of Base Rate.

 

SECTION
3.04     Increased Cost and Reduced Return; Capital Adequacy.

 

(1)           Increased
Costs Generally. If any Change in Law shall:

 

(a)           impose,
modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits
with or for the account of, or credit extended or participated in by, any Lender;

 

(b)           subject
any Lender to any Tax of any kind whatsoever with respect to this Agreement or any Loan made by it, or change the basis of taxation of
payments to such Lender in respect thereof (except for Non-Excluded Taxes or Other Taxes covered by Section 3.01 and any Excluded
Taxes); or

 

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(c)           impose
on any Lender or the London interbank market any other condition, cost or expense affecting this Agreement or any Loans made by such
Lender; and the result of any of the foregoing shall be to increase the cost to such Lender of making, maintaining, continuing or
converting any Loan the interest on which is determined by reference to SOFR (or of maintaining its obligation to make any such
Loan), or to reduce the amount of any sum received or receivable by such Lender (whether of principal, interest or any other amount)
then, from time to time within fifteen (15) days after demand by such Lender setting forth in reasonable detail such increased costs
(with a copy of such demand to the Administrative Agent), the Borrower will pay to such Lender such additional amount or amounts as
will compensate such Lender for such additional costs incurred or reduction suffered; provided that such amounts shall only
be payable by the Borrower to the applicable Lender under this Section 3.04(1) so long as it is such Lender’s
general policy or practice to demand compensation in similar circumstances under comparable provisions of other financing
agreements.

 

(2)           Capital
Requirements. If any Lender reasonably 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 requirements or liquidity adequacy has 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 it, or participations in or issuance of Letters of Credit by such
Lender, to a level below that which such Lender or such Lender’s holding company, as the case may be, 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), then from time to time upon demand of such Lender setting forth in reasonable detail the charge and the
calculation of such reduced rate of return (with a copy of such demand to the Administrative Agent), the Borrower will pay to such Lender
additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered; provided
that such amounts shall only be payable by the Borrower to the applicable Lender under this Section 3.04(2) so long as
it is such Lender’s general policy or practice to demand compensation in similar circumstances under comparable provisions of other
financing agreements.

 

(3)           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 subsection (1) or (2) of this Section 3.04 and delivered to the Borrower
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 fifteen (15) days after receipt thereof.

 

SECTION 3.05         Funding
Losses. Upon written demand of any Lender (with a copy to the Administrative Agent) from time to time, which demand shall set forth
in reasonable detail the basis for requesting such amount, the Borrower shall promptly compensate such Lender for and hold such Lender
harmless from any loss, cost or expense (excluding loss of anticipated profits or margin) actually incurred by it as a result of:

 

(1)           any
continuation, conversion, payment or prepayment of any SOFR Loan on a day prior to the last day of the Interest Period for such Loan
(whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);

 

(2)           any
failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any
SOFR Loan on the date or in the amount notified by the Borrower; or

 

(3)           any
assignment of a SOFR Loan on a day prior to the last day of the Interest Period therefor as a result of a request by the Borrower pursuant
to Section 3.07; including any loss or expense (excluding loss of anticipated profits or margin) actually incurred by reason of
the liquidation or reemployment of funds obtained by it to maintain such SOFR Loan or from fees payable to terminate the deposits from
which such funds were obtained.

 

Notwithstanding the foregoing, no Lender may make
any demand under this Section 3.05 with respect to the “floor” specified in the definition of “Adjusted Term SOFR.”

 

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SECTION 3.06         Matters
Applicable to All Requests for Compensation.

 

(1)           Designation
of a Different Lending Office. If any Lender requests compensation under Section 3.04, or the Borrower is required to pay any
additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any
Lender gives a notice pursuant to Section 3.02, then such Lender shall use reasonable efforts to designate a different Lending Office
for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates,
if, in the good faith judgment of such Lender such designation or assignment (a) would eliminate or reduce amounts payable pursuant
to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02,
as applicable, and (b) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender in any material economic, legal or regulatory respect.

 

(2)           Suspension
of Lender Obligations. If any Lender requests compensation by the Borrower under Section 3.04, the Borrower may, by notice to
such Lender (with a copy to the Administrative Agent), suspend the obligation of such Lender to make or continue SOFR Loans from one
Interest Period to another Interest Period, or to convert Base Rate Loans into SOFR Loans until the event or condition giving rise to
such request ceases to be in effect (in which case the provisions of Section 3.06(3) shall be applicable); provided that
such suspension shall not affect the right of such Lender to receive the compensation so requested.

 

(3)           Conversion
of SOFR Loans. If any Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified
in Section 3.02, 3.03 or 3.04 hereof that gave rise to the conversion of such Lender’s SOFR Loans no longer exist (which such
Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when SOFR Loans made by other Lenders, as applicable,
are outstanding, such Lender’s Base Rate Loans shall be automatically converted, on the first day(s) of the next succeeding
Interest Period(s) for such outstanding SOFR Loans to the extent necessary so that, after giving effect thereto, all Loans of a
given Class held by the Lenders of such Class holding SOFR Loans and by such Lender are held pro rata (as to principal amounts,
interest rate basis, and Interest Periods) in accordance with their respective Pro Rata Shares.

 

(4)           Delay
in Requests. Failure or delay on the part of any Lender to demand compensation pursuant to the foregoing provisions of Sections 3.01
or 3.04 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 the foregoing provisions of Section 3.01 or 3.04 for any increased costs incurred
or reductions suffered more than one hundred and eighty (180) days prior to the date that such Lender notifies the Borrower of the event
giving rise to such claim and of such Lender’s intention to claim compensation therefor (except that, if the circumstance giving
rise to such increased costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the
period of retroactive effect thereof).

 

SECTION 3.07         Replacement
of Lenders under Certain Circumstances. If (1) any Lender requests compensation under Section 3.04 or ceases to make SOFR
Loans as a result of any condition described in Section 3.02 or Section 3.04, (2) the Borrower is required to pay any
additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 or 3.04, (3) any
Lender is a Non-Consenting Lender, (4) any Lender becomes a Defaulting Lender or (5) any other circumstance exists hereunder
that gives the Borrower the right to replace a Lender as a party hereto, then the Borrower may, at its sole expense and effort, upon
notice to such Lender and the Administrative Agent,

 

(a)            require
such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required
by, Section 10.07), all of its interests, rights and obligations under this Agreement (or, with respect to clause (3) above,
all of its interests, rights and obligations with respect to the Class of Loans or Commitments that is the subject of the related
consent, waiver, or amendment, as applicable) and the related Loan Documents to one or more Eligible Assignees that shall assume such
obligations (any of which assignee may be another Lender, if a Lender accepts such assignment), provided that:

 

(i)              the
Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 10.07(b)(iv);

 

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(ii)             such
Lender shall have received payment of an amount equal to the applicable outstanding principal of its Loans, accrued interest thereon,
accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05
and, in the case of a Repricing Transaction, any “prepayment premium” pursuant to Section 2.18 that would otherwise
be owed in connection therewith) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the
Borrower (in the case of all other amounts);

 

(iii)            such
Lender being replaced pursuant to this Section 3.07 shall (i) execute and deliver an Assignment and Assumption with respect
to all, or a portion, as applicable, of such Lender’s Commitment and outstanding Loans and participations in L/C Obligations and
(ii) deliver any Notes evidencing such Loans to the Borrower or Administrative Agent (or a lost or destroyed note indemnity in lieu
thereof); provided that the failure of any such Lender to execute an Assignment and Assumption or deliver such Notes shall not
render such sale and purchase (and the corresponding assignment) invalid and such assignment shall be recorded in the Register and the
Notes shall be deemed to be canceled upon such failure;

 

(iv)            the
Eligible Assignee shall become a Lender hereunder and the assigning Lender shall cease to constitute a Lender hereunder with respect
to such assigned Loans, Commitments and participations, except with respect to indemnification and confidentiality provisions under this
Agreement, which shall survive as to such assigning Lender;

 

(v)             in
the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made pursuant
to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter;

 

(vi)            such
assignment does not conflict with applicable Laws;

 

(vii)           any
Lender that acts as an Issuing Bank may not be replaced hereunder at any time when it has any Letter of Credit outstanding hereunder
unless arrangements reasonably satisfactory to such Issuing Bank (including the furnishing of a back-up standby letter of credit in form
and substance, and issued by an issuer, reasonably satisfactory to such Issuing Bank or the depositing of Cash Collateral into a Cash
Collateral Account in amounts and pursuant to arrangements reasonably satisfactory to such Issuing Bank) have been made with respect
to each such outstanding Letter of Credit; and

 

(viii)          the
Lender that acts as Administrative Agent cannot be replaced in its capacity as Administrative Agent other than in accordance with Section 9.11,
or

 

(b)           terminate
the Commitment of such Lender or Issuing Bank, as the case may be, and (A) in the case of a Lender (other than an Issuing Bank),
repay all Obligations of the Borrower owing to such Lender relating to the Loans and participations held by such Lender as of such termination
date (including in the case of a Repricing Transaction, any “prepayment premium” pursuant to Section 2.18 that would
otherwise be owed in connection therewith) and (B) in the case of an Issuing Bank, repay all Obligations of the Borrower owing to
such Issuing Bank relating to the Loans and participations held by such Issuing Bank as of such termination date and Cash Collateralize,
cancel or backstop, or provide for the deemed reissuance under another facility, on terms satisfactory to such Issuing Bank any Letters
of Credit issued by it; provided that in the case of any such termination of the Commitment of a Non-Consenting Lender such termination
shall be sufficient (together with all other consenting Lenders) to cause the adoption of the applicable consent, waiver or amendment
of the Loan Documents and such termination shall, with respect to clause (3) above, be in respect of all of its interests,
rights and obligations with respect to the Class of Loans or Commitments that is the subject of the related consent, waiver and
amendment.

 

In the event that (i) the Borrower or the Administrative
Agent has requested that the Lenders consent to a departure or waiver of any provisions of the Loan Documents or agree to any amendment
thereto, (ii) the consent, waiver or amendment in question requires the agreement of each Lender, all affected Lenders or all the
Lenders or all affected Lenders with respect to a certain Class or Classes of the Loans/Commitments and (iii) the Required
Lenders or Required Facility Lenders, as applicable, have agreed to such consent, waiver or amendment, then any Lender who does not agree
to such consent, waiver or amendment shall be deemed a “Non-Consenting Lender.”

 

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

 

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

 

Article IV

 

Conditions Precedent to Credit Extensions

 

SECTION 4.01       Conditions
to Credit Extensions on Closing Date. The obligation of each Lender to make a Credit Extension hereunder on the Closing Date is subject
to satisfaction (or waiver) of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative
Agent:

 

(1)           The
Administrative Agent’s receipt of the following, each of which shall be originals, facsimiles or copies in .pdf format (followed
promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party (other than
in the case clause (1)(e) below):

 

(a)           a
Committed Loan Notice;

 

(b)           executed
counterparts of this Agreement and the Guaranty;

 

(c)           each
Collateral Document set forth on Schedule 4.01(1)(c) required to be executed on the Closing Date as indicated on such schedule,
duly executed by each Loan Party that is party thereto, together with (subject to Section 6.13(2)):

 

(i)            certificates,
if any, representing the Pledged Collateral that is certificated equity of the Borrower and the Loan Parties’ Material Domestic
Subsidiaries accompanied by undated stock powers executed in blank; and

 

(ii)           evidence
that all UCC-1 financing statements in the appropriate jurisdiction or jurisdictions for each Loan Party that the Administrative Agent
and the Collateral Agent may deem reasonably necessary to satisfy the Collateral and Guarantee Requirement shall have been provided for,
and arrangements for the filing thereof in a manner reasonably satisfactory to the Administrative Agent shall have been made;

 

(d)           certificates
of good standing from the secretary of state of the state of organization of each Loan Party (to the extent such concept exists in such
jurisdiction), customary certificates of resolutions or other action, incumbency certificates or other certificates of Responsible Officers
of each Loan Party certifying true and complete copies of the Organizational Documents attached thereto and evidencing the identity,
authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement
and the other Loan Documents to which such Loan Party is a party or is to be a party on the Closing Date;

 

(e)           a
customary legal opinion from (i) Honigman LLP, counsel to the Loan Parties, (ii) each local counsel to the Loan Parties listed
on Schedule 4.01(1)(e) in the jurisdictions indicated on such schedule and (iii) Wilkinson, Barker, Knauer LLP, regulatory
counsel to the Loan Parties;

 

(f)            a
certificate of a Responsible Officer certifying that the conditions set forth in Section 4.01(5) and 4.01(6) have been
satisfied; and

 

    	 	138	 

     

    

 

(g)           a
solvency certificate from a Financial Officer of the Borrower (after giving effect to the Transactions) substantially in the form attached
hereto as Exhibit I.

 

(2)           The
Arrangers shall have received (i) the Annual Financial Statements, and (ii) the Quarterly Financial Statements.

 

(3)           The
Arrangers shall have received the Pro Forma Financial Statements.

 

(4)           The
Administrative Agent shall have received at least three (3) Business Days prior to the Closing Date all documentation and other
information in respect of the Borrower and the Guarantors required under applicable “know your customer” and anti-money laundering
rules and regulations, including the USA PATRIOT Act and the Beneficial Ownership Regulation, that has been reasonably requested
in writing by it at least ten (10) Business Days prior to the Closing Date.

 

(5)           The
representations and warranties of the Borrower contained in Article V or any other Loan Document shall be true and correct in all
material respects on and as of the date of the Closing 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 material respects as of such earlier date; provided further
that, any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or
similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates.

 

(6)            No
Default shall exist, or would result from the initial Credit Extensions hereunder or from the application of the proceeds therefrom.

 

(7)           Since
September 30, 2021, no change, event or circumstance shall have occurred that has had or would reasonably be expected to have a
Material Adverse Effect.

 

(8)           All
fees and expenses (in the case of expenses, to the extent invoiced at least three (3) Business Days prior to the Closing Date (except
as otherwise reasonably agreed by the Borrower)) required to be paid hereunder on the Closing Date shall have been paid, or shall be
paid substantially concurrently with the initial Borrowing on the Closing Date.

 

(9)           Prior
to or substantially concurrently with the initial Borrowing(s) on the Closing Date, the Closing Date Refinancing shall have been
consummated.

 

Without limiting the generality of the provisions
of the last paragraph of Section 9.03, for purposes of determining compliance with the conditions specified in this Section 4.01,
each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document
or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto.

 

SECTION 4.02       Conditions
to Credit Extensions after Closing Date. The obligation of each Lender to honor any Request for Credit Extension (other than a Committed
Loan Notice requesting only a conversion of Loans to the other Type, a continuation of SOFR Loans or a Borrowing pursuant to any Incremental
Amendment) after the Closing Date is subject to the following conditions precedent:

 

(1)           The
representations and warranties of the Borrower contained in Article V or any other Loan Document shall be true and correct in all
material respects on and as of the date of such Credit Extension; provided that to the extent that such representations and warranties
specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided further
that, any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or
similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates.

 

    	 	139	 

     

    

 

(2)           No
Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds therefrom.

 

(3)           The
Administrative Agent or the relevant Issuing Bank (as applicable) shall have received a Request for Credit Extension in accordance with
the requirements hereof.

 

(4)           Each
Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type, a continuation
of SOFR Loans or a Borrowing pursuant to an Incremental Amendment) submitted by the Borrower after the Closing Date shall be deemed to
be a representation and warranty that the conditions specified in Sections 4.02(1) and 4.02(2) have been satisfied on and as
of the date of the applicable Credit Extension.

 

In addition, solely to the extent the Borrower has
delivered to the Administrative Agent a Notice of Intent to Cure pursuant to Section 8.04, no request for a Credit Extension shall
be honored after delivery of such notice until the applicable Cure Amount specified in such notice is actually received by the Borrower.
For the avoidance of doubt, the preceding sentence shall have no effect on the continuation or conversion of any Loans outstanding.

 

Article V

 

Representations and Warranties

 

The Borrower and, in respect of Sections 5.01, 5.02,
5.03, 5.04, 5.06, 5.13 and 5.17 only, Holdings, represent and warrant to the Administrative Agent and the Lenders, at the time of each
Credit Extension (solely to the extent required to be true and correct for such Credit Extension pursuant to Article IV or Section 2.14,
as applicable):

 

SECTION 5.01       Existence,
Qualification and Power; Compliance with Laws. Each Loan Party and each of its respective Restricted Subsidiaries that is a Material
Subsidiary:

 

(3)           is
a Person duly organized or formed, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization
(to the extent such concept exists in such jurisdiction),

 

(4)           has
all corporate or other organizational power and authority to (a) own or lease its assets and carry on its business as currently
conducted and (b) in the case of the Loan Parties, execute, deliver and perform its obligations under the Loan Documents to which
it is a party,

 

(5)           is
duly qualified and in good standing (to the extent such concept exists) under the Laws of each jurisdiction where its ownership, lease
or operation of properties or the conduct of its business as currently conducted requires such qualification,

 

(6)           is
in compliance with all applicable Laws orders, writs, injunctions and orders (including the United States Foreign Corrupt Practices Act
of 1977 (the “FCPA”)); and

 

(7)           has
all requisite governmental licenses, authorizations, consents and approvals to operate its business as currently conducted;

 

except in each case referred to in the preceding clauses (2)(a), (3),
(4) or (5), to the extent that failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.

 

SECTION 5.02       Authorization;
No Contravention.

 

(1)           The
execution, delivery and performance by each Loan Party of each Loan Document to which such Person is a party have been duly authorized
by all necessary corporate or other organizational action.

 

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(2)           None
of the execution, delivery and performance by each Loan Party of each Loan Document to which such Person is a party will:

 

(a)           contravene
the terms of any of such Person’s Organizational Documents;

 

(b)           result
in any breach or contravention of, or the creation of any Lien upon any of the property or assets of such Person or any of the Restricted
Subsidiaries (other than as permitted by Section 7.01) under (i) any Contractual Obligation to which such Loan Party is a party
or affecting such Loan Party or the properties of such Loan Party or any of its Subsidiaries or (ii) any order, injunction, writ
or decree of any Governmental Authority or any arbitral award to which such Loan Party or its property is subject; or

 

(c)           violate
any applicable Law;

 

except with respect to any breach, contravention or violation (but
not creation of Liens) referred to in the preceding clauses (b) and (c), to the extent that such breach, contravention or violation
would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

SECTION 5.03       Governmental
Authorization. No material approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental
Authority is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Loan Party
of this Agreement or any other Loan Document, except for:

 

(1)           filings
and registrations necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties,

 

(2)           the
approvals, consents, exemptions, authorizations, actions, notices and filings that have been duly obtained, taken, given or made and
are in full force and effect (except to the extent not required to be obtained, taken, given or made or in full force and effect pursuant
to the Collateral and Guarantee Requirement), and

 

(3)           those
approvals, consents, exemptions, authorizations or other actions, notices or filings, the failure of which to obtain or make would not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

SECTION 5.04       Binding
Effect. This Agreement and each other Loan Document has been duly executed and delivered by each Loan Party that is party hereto
or thereto, as applicable. Each Loan Document constitutes a legal, valid and binding obligation of each Loan Party that is party thereto,
enforceable against each such Loan Party in accordance with its terms, except as such enforceability may be limited by Debtor Relief
Laws, by general principles of equity and principles of good faith and fair dealing and the effect of Communications Laws and State Telecommunications
Laws generally applicable to entities such as the Loan Parties.

 

SECTION 5.05       Financial
Statements; No Material Adverse Effect.

 

(1)           (a)The
Annual Financial Statements and the Quarterly Financial Statements fairly present in all material respects the financial condition of
the Borrower and its Subsidiaries as of the date(s) thereof and their results of operations for the period covered thereby in accordance
with GAAP consistently applied throughout the periods covered thereby, (a) except as otherwise expressly noted therein and (b) subject,
in the case of the Quarterly Financial Statements, to changes resulting from normal year-end adjustments and the absence of footnotes.

 

(2)           Since
the Closing Date, there has been no event or circumstance, either individually or in the aggregate, that has had or would reasonably
be expected to have a Material Adverse Effect.

 

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(3)           The
forecasts of consolidated balance sheets and statements of income of the Borrower and its Subsidiaries for each fiscal year ending after
the Closing Date until the fifth anniversary of the Closing Date (the “Pro Forma Financial Statements”), copies of
which have been furnished to the Administrative Agent prior to the Closing Date, when taken as a whole, have been prepared in good faith
on the basis of the assumptions stated therein, which assumptions were believed to be reasonable at the time made and at the time the
forecasts are delivered, it being understood that:

 

(a)           no
forecasts are to be viewed as facts,

 

(b)           all
forecasts are subject to significant uncertainties and contingencies, many of which are beyond the control of the Loan Parties,

 

(c)           no
assurance can be given that any particular forecasts will be realized and

 

(d)           actual
results may differ and such differences may be material.

 

SECTION 5.06       Litigation.
There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower, overtly threatened in writing,
at law, in equity, in arbitration or before any Governmental Authority, by or against Holdings, the Borrower or any of the Restricted
Subsidiaries that would reasonably be expected to have a Material Adverse Effect.

 

SECTION 5.07       Labor
Matters. Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect: (1) there
are no strikes or other labor disputes against the Borrower or the Restricted Subsidiaries pending or, to the knowledge of the Borrower,
threatened in writing and (2) hours worked by and payment made based on hours worked to employees of each of the Borrower or the
Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Laws dealing with wage and
hour matters.

 

SECTION 5.08       Ownership
of Property; Liens. Each Loan Party and each of its respective Restricted Subsidiaries has good and valid record title in fee simple
to, or valid leasehold interests in, or easements or other limited property interests in, all real property necessary in the ordinary
conduct of its business, free and clear of all Liens except for Liens permitted by Section 7.01 and except where the failure to
have such title or other interest would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

SECTION 5.09       Environmental
Matters. Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect: (a) each
Loan Party and each of its Restricted Subsidiaries and their respective operations and properties is in compliance with all applicable
Environmental Laws; (b) each Loan Party and each of its Restricted Subsidiaries has obtained and maintained all Environmental Permits
required to conduct their operations; (c) none of the Loan Parties or any of their respective Restricted Subsidiaries is subject
to any pending or, to the knowledge of the Borrower, threatened Environmental Claim in writing or Environmental Liability; (d) none
of the Loan Parties or any of their respective Restricted Subsidiaries or predecessors has treated, stored, transported or Released Hazardous
Materials at or from any currently or formerly owned, leased or operated real estate or facility except for such actions that were in
compliance with Environmental Law; and (e) to the knowledge of any Loan Party or any Restricted Subsidiary, there are no occurrences,
facts, circumstances or conditions which could reasonably be expected to give rise to an Environmental Claim.

 

SECTION 5.10       Taxes.
Except as would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, each Loan
Party and each of its Restricted Subsidiaries has timely filed all Tax returns and reports required to be filed, and have timely paid
all Taxes (including satisfying its withholding tax obligations) levied or imposed on their properties, income or assets (whether or
not shown in a Tax return), except those which are being contested in good faith by appropriate actions diligently taken and for which
adequate reserves have been provided in accordance with GAAP.

 

There is no proposed Tax assessment, deficiency
or other claim against any Loan Party or any of its Restricted Subsidiaries except (i) those being actively contested by a Loan
Party or such Restricted Subsidiary in good faith and by appropriate actions diligently taken and for which adequate reserves have been
provided in accordance with GAAP or (ii) those which would not reasonably be expected to, individually or in the aggregate, have
a Material Adverse Effect.

 

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SECTION 5.11       ERISA
Compliance.

 

(1)            Except
as would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, each Plan is in
compliance with the applicable provisions of ERISA, the Code and other federal or state Laws.

 

(2)           (i) No
ERISA Event has occurred or is reasonably expected to occur, and (ii) none of the Loan Parties or any of their respective ERISA
Affiliates has engaged in a transaction that could be subject to Sections 4069 or 4212(c) of ERISA, except, with respect to each
of the foregoing clauses of this Section 5.11(2), as would not reasonably be expected, individually or in the aggregate, to result
in a Material Adverse Effect.

 

(3)           Except
where noncompliance or the incurrence of an obligation would not reasonably be expected to result in a Material Adverse Effect, (a) each
Foreign Plan has been maintained in compliance with its terms and with the requirements of any and all applicable Laws, and (b) none
of Holdings, the Borrower or any Subsidiary has incurred any obligation in connection with the termination of or withdrawal from any
Foreign Plan.

 

SECTION 5.12       Subsidiaries.

 

(1)           As
of the Closing Date, all of the outstanding Equity Interests in the Borrower and its Restricted Subsidiaries have been validly issued
and are fully paid and (if applicable) non-assessable, and all Equity Interests that constitute Collateral owned by Holdings in the Borrower,
and by the Borrower or any Subsidiary Guarantor in any of their respective Subsidiaries are owned free and clear of all Liens of any
person except (a) those Liens created under the Collateral Documents and (b) any nonconsensual Lien that is permitted under
Section 7.01.

 

(2)           As
of the Closing Date, Schedule 5.12 sets forth:

 

(a)           the
name and jurisdiction of organization of each Subsidiary, and

 

(b)           the
ownership interests of Holdings in the Borrower and of the Borrower and any Subsidiary of the Borrower in each Subsidiary, including
the percentage of such ownership.

 

SECTION 5.13       Margin
Regulations; Investment Company Act.

 

(a)           As
of the Closing Date, none of the Collateral is Margin Stock. No Loan Party is engaged nor will it engage, principally or as one of its
important activities, in the business of purchasing or carrying Margin Stock (within the meaning of Regulations T, U and X issued by
the Board of Governors of the Federal Reserve System of the United States), or extending credit for the purpose of purchasing or carrying
Margin Stock, and no proceeds of any Borrowings will be used for any purpose that violates Regulations T, U and X.

 

(b)           No
Loan Party is required to be registered as an “investment company” under the Investment Company Act of 1940.

 

SECTION 5.14       Disclosure.
As of the Closing Date, none of the written information and written data heretofore or contemporaneously furnished in writing by or on
behalf of the Borrower or any Restricted Subsidiary to any Agent or any Lender on or prior to the Closing Date in connection with the
Transactions, when taken as a whole, contains any material misstatement of fact or omits to state any material fact necessary to make
such written information and written data taken as a whole, in the light of the circumstances under which it was delivered, not materially
misleading (after giving effect to all modifications and supplements to such written information and written data, in each case, furnished
after the date on which such written information or such written data was originally delivered and prior to the Closing Date); it being
understood that for purposes of this Section 5.14, such written information and written data shall not include any projections,
pro forma financial information, financial estimates, forecasts and forward-looking information or information of a general economic
or general industry nature.

 

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SECTION 5.15       Intellectual
Property; Licenses, etc. The Borrower and the Restricted Subsidiaries have good and marketable title to, or a valid license
or right to use, all patents, patent rights, trademarks, servicemarks, trade names, copyrights, technology, software, know-how, database
rights and other intellectual property rights (collectively, “IP Rights”) that to the knowledge of the Borrower are
reasonably necessary for the operation of their respective businesses as currently conducted, except where the failure to have any such
rights, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. To the knowledge
of the Borrower, the operation of the respective businesses of the Borrower or any Subsidiary of the Borrower as currently conducted
does not infringe upon, dilute, misappropriate or violate any IP Rights held by any Person except for such infringements, dilutions,
misappropriations or violations, individually or in the aggregate, that would not reasonably be expected to have a Material Adverse Effect.
No claim or litigation regarding any IP Rights is pending or, to the knowledge of the Borrower, threatened in writing against any Loan
Party or Subsidiary, that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

 

SECTION 5.16       Solvency.
On the Closing Date after giving effect to the Transactions, the Borrower and the Subsidiaries, on a consolidated basis, are Solvent.

 

SECTION 5.17       USA
PATRIOT Act; Anti-Terrorism Laws. Each of the Borrower and the Restricted Subsidiaries are in compliance, in all material respects,
with (i) the USA PATRIOT Act, (ii) the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations
of the United States Treasury Department (31 C.F.R. Subtitle B, Chapter V, as amended) and any other applicable enabling legislation
or executive order relating thereto, and (iii) any other anti-money laundering or anti-terrorism laws. None of Holdings, the Borrower
or any Restricted Subsidiary nor, to the knowledge of the Borrower, any director, officer or employee of Holdings, the Borrower or any
of the Restricted Subsidiaries has taken any action, directly or indirectly, that would result in a violation by such persons of the
FCPA or any other applicable anti-corruption law. Neither Holdings, the Borrower nor any Restricted Subsidiary nor, to the knowledge
of the Borrower, any director, officer or employee of Holdings, the Borrower or any of the Restricted Subsidiaries, is currently the
subject of any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”)
(“Sanctions”). No proceeds of the Loans will be used by Holdings, the Borrower or any Restricted Subsidiary directly
or, to the knowledge of the Borrower, indirectly, for the purpose of financing activities of or with any Person, or in any country, that,
at the time of such financing, is the subject of any Sanctions administered by OFAC, except to the extent licensed or otherwise approved
by OFAC. No part of the proceeds of the Loans will be used by Holdings, the Borrower or any Restricted Subsidiary, directly or, to the
knowledge of the Borrower, indirectly, in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving
of money, or anything else of value, to any Person in violation of the FCPA or any other applicable anti-corruption law.

 

SECTION 5.18       Collateral
Documents. Except as otherwise contemplated hereby or under any other Loan Documents and subject to limitations set forth in the
Collateral and Guarantee Requirement, the provisions of the Collateral Documents, together with such filings and other actions required
to be taken hereby or by the applicable Collateral Documents (including the delivery to Collateral Agent of any Pledged Collateral required
to be delivered pursuant hereto or the applicable Collateral Documents), are effective to create in favor of the Collateral Agent for
the benefit of the Secured Parties a legal, valid, perfected and enforceable first priority Lien (subject to Liens permitted by Section 7.01)
on all right, title and interest of the respective Loan Parties in the Collateral described therein.

 

Notwithstanding
anything herein (including this Section 5.18) or in any other Loan Document to the contrary, no Loan Party makes any representation
or warranty as to (A) the effects of perfection or non-perfection, the priority or the enforceability of any pledge of or security
interest in any Equity Interests of any Foreign Subsidiary, or as to the rights and remedies of the Agents or any Lender with respect
thereto, under foreign Law, (B) the pledge or creation of any security interest, or the effects of perfection or non-perfection,
the priority or the enforceability of any pledge of or security interest to the extent such pledge, security interest, perfection or
priority is not required pursuant to the Collateral and Guarantee Requirement, (C) on the Closing Date and until required
pursuant to Section 6.13 or 4.01, the pledge or creation of any security interest, or the effects of perfection or non-perfection,
the priority or enforceability of any pledge or security interest to the extent not required on the Closing Date pursuant to Section 4.01
or (D) any Excluded Assets.

 

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SECTION 5.19       Communications
Regulatory Matters.

 

(a)           The
business of the Borrower and its Subsidiaries is being conducted in compliance with the applicable Communications Laws and the State
Telecommunications Laws, and the terms of its Cable Franchise Agreements, Licenses, and Governmental Authorizations, except as would
not reasonably be expected to have a Material Adverse Effect. The Borrower and its Subsidiaries possess all Cable Franchise Agreements,
Licenses, and Governmental Authorizations issued by the FCC, PUCs, and cable franchising authorities necessary to conduct their respective
businesses as currently conducted, except as would not reasonably be expected to have a Material Adverse Effect.

 

(b)           All
Cable Franchise Agreements, Licenses, and Governmental Authorizations issued by the FCC, PUCs, and cable franchising authorities required
for the operations of the Borrower and its Subsidiaries are in full force and effect, except as would not reasonably be expected to have
a Material Adverse Effect. None of the Cable Franchise Agreements, Licenses, or Governmental Authorizations is subject to any restrictions
or conditions that materially impairs the respective businesses of the Borrower and its Subsidiaries as currently conducted (other than
restrictions or conditions generally applicable to authorizations of that type).

 

(c)           To
the knowledge of any Loan Party, there is no condition, event or occurrence existing, nor, to the best of the knowledge of the Borrower
and its Subsidiaries, is there any proceeding being conducted or threatened by any Governmental Authority (other than proceedings to
amend rules of general applicability), which would reasonably be expected to cause the termination, revocation, suspension, cancellation,
adverse modification, or nonrenewal of any of the Cable Franchise Agreements, Licenses, or Governmental Authorizations, or the imposition
of any penalty or fine by any Governmental Authority with respect to any of Cable Franchise Agreements, Licenses, or Governmental Authorizations
or the Borrower and its Subsidiaries, in each case which would reasonably be expected to have a Material Adverse Effect.

 

(d)           To
the knowledge of any Loan Party, there is no (i) outstanding decree, decision, judgment, or order that has been issued by the FCC,
PUC, or cable franchising authority against the Borrower and its Subsidiaries, the Cable Franchise Agreements, Licenses, or Governmental
Authorizations or (ii) notice of violation, apparent liability, order to show cause, complaint, investigation, audit or other administrative
or judicial proceeding pending or threatened by or before the FCC, PUC, or cable franchising authorities against the Borrower and its
Subsidiaries, the Cable Franchise Agreements, Licenses, or Governmental Authorizations that, in the case of each of (i) or (ii) above,
would reasonably be expected to have a Material Adverse Effect.

 

(e)            The
Borrower and its Subsidiaries each have timely filed with the FCC, PUCs, and cable franchising authorities all necessary reports, certificates,
statements and filings required to be filed pursuant to the Communications Laws and State Telecommunications Laws, and have paid all
regulatory fees and contributions, which it has calculated in good faith required to be paid pursuant to the Communications Laws and
State Telecommunications Laws, except as would not reasonably be expected to have a Material Adverse Effect.

 

SECTION 5.20       Senior
Indebtedness. The Obligations shall constitute “Senior Indebtedness” (or equivalent term) and the Obligations shall be
 “Designated Senior Indebtedness” (or equivalent term) under all Subordinated Indebtedness of any Loan Party.

 

SECTION 5.21       Beneficial
Ownership Certification. As of the Closing Date, the information included in the Beneficial Ownership Certification delivered pursuant
to Section 4.01(4) is true and correct in all respects.

 

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Article VI

 

Affirmative Covenants

 

So long as the Termination Conditions have not been
satisfied, the Borrower shall (and, with respect to Sections 6.05(1), 6.11, 6.13 and 6.18 only, Holdings shall), and shall (except
in the case of the covenants set forth in Sections 6.01, 6.02 and 6.03) cause each of the Restricted Subsidiaries to:

 

SECTION 6.01       Financial
Statements. Deliver to the Administrative Agent for prompt further distribution by the Administrative Agent to each Lender (subject
to the limitations on distribution of any such information to Public Lenders as described in Section 6.02) each of the following:

 

(1)           within
ninety (90) days after the end of each fiscal year of the Borrower, commencing with the fiscal year ending December 31, 2021, a
consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements
of operations and cash flows for such fiscal year, together with related notes thereto and management’s discussion and analysis
describing results of operations in the form customarily prepared by management of the Borrower, setting forth in each case in comparative
form the figures for the previous fiscal year, in reasonable detail and all prepared in accordance with GAAP, audited and accompanied
by a report and opinion of an independent registered public accounting firm of nationally recognized standing or another accounting firm
reasonably acceptable to the Administrative Agent, which report and opinion (a) will be prepared in accordance with generally accepted
auditing standards and (b) will not be subject to any qualification as to the scope of such audit (but may contain a “going
concern” or like qualification that is due to (i) the impending maturity of the Facilities, (ii) any anticipated inability
to satisfy the Financial Covenant or (iii) except in the case of the Revolving Facility, an actual Default of the Financial Covenant);

 

(2)           within
forty-five (45) days after the end of each of the first three (3) fiscal quarters of each fiscal year of the Borrower commencing
with March 31, 2022, a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, and
the related (a) consolidated statement of operations for such fiscal quarter and for the portion of the fiscal year then ended and
(b) consolidated statement of cash flows for the portion of the fiscal year then ended, setting forth, in each case of the preceding
clauses (a) and (b), in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding
portion of the previous fiscal year, accompanied by an Officer’s Certificate stating that such financial statements fairly present
in all material respects the financial condition, results of operations and cash flows of the Borrower and its Subsidiaries in accordance
with GAAP, subject to normal year-end adjustments and the absence of footnotes, together with management’s discussion and analysis
describing results of operations in the form customarily prepared by management of the Borrower;

 

(3)           within
ninety (90) days after the end of each fiscal year of the Borrower, commencing with respect to the fiscal year ending December 31,
2022, a consolidated budget for the following fiscal year on a quarterly basis as customarily prepared by management of the Borrower
for its internal use (including any projected consolidated balance sheet of the Borrower and its Subsidiaries as of the end of the following
fiscal year and the related consolidated statements of projected income, in each case, to the extent prepared by management of the Borrower
and included in such consolidated budget), which projected financial statements shall be prepared in good faith on the basis of assumptions
believed to be reasonable at the time of preparation of such projected financial statements (it being understood that any such projections
are not to be viewed as facts, are subject to significant uncertainties and contingencies, many of which are beyond the control of the
Loan Parties and that no assurance can be given that any particular projections will be realized, that actual results may differ and
that such differences may be material); and

 

(4)           simultaneously
with the delivery of each set of consolidated financial statements referred to in Sections 6.01(1) and 6.01(2), the related unaudited
(it being understood that such information may be audited at the option of the Borrower) consolidating financial statements reflecting
the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such consolidated financial statements.

 

Notwithstanding the foregoing, the obligations referred
to in Sections 6.01(1) and 6.01(2) may be satisfied with respect to financial information of the Borrower and its Subsidiaries
by furnishing (A) the applicable financial statements of any Parent Company or (B) the Borrower’s or such Parent Company’s
Form 10-K or 10-Q, as applicable, filed with the SEC (and the public filing of such report with the SEC shall constitute delivery
under this Section 6.01); provided that with respect to each of the preceding clauses (A) and (B), (1) to the extent
such information relates to a Parent Company of the Borrower, if and so long as such Parent Company will have Independent Assets or Operations,
such information is accompanied by consolidating information (which need not be audited) that explains in reasonable detail the differences
between the information relating to such Parent Company and its Independent Assets or Operations, on the one hand, and the information
relating to the Borrower and the consolidated Restricted Subsidiaries on a stand-alone basis, on the other hand and (2) to the extent
such information is in lieu of information required to be provided under Section 6.01(1) (it being understood that such information
may be audited at the option of the Borrower), such materials are accompanied by a report and opinion of an independent registered public
accounting firm of nationally recognized standing or another accounting firm reasonably acceptable to the Administrative Agent, which
report and opinion (a) will be prepared in accordance with generally accepted auditing standards and (b) will not be subject
to any qualification as to the scope of such audit (but may contain a “going concern” or like qualification that is due to
(i) the impending maturity of the Facilities, (ii) any anticipated inability to satisfy the Financial Covenant or (iii) except
in the case of the Revolving Facility, an actual Default of the Financial Covenant).

 

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Any financial statements required to be delivered
pursuant to Sections 6.01(1) or 6.01(2) shall not be required to contain all purchase accounting adjustments relating to the
Transactions or any other transaction(s) permitted hereunder to the extent it is not practicable to include any such adjustments
in such financial statements.

 

SECTION 6.02       Certificates;
Other Information. Deliver to the Administrative Agent for prompt further distribution by the Administrative Agent to each Lender
(subject to the limitations on distribution of any such information to Public Lenders as described in this Section 6.02):

 

(1)           no
later than five (5) days after the delivery of the financial statements referred to in Sections 6.01(1) and (2) (commencing
with such delivery for the fiscal year ending December 31, 2021), a duly completed Compliance Certificate signed by a Financial
Officer of the Borrower;

 

(2)           promptly
after the same are publicly available, copies of all special reports and registration statements which the Borrower or any Restricted
Subsidiary files with the SEC or with any Governmental Authority that may be substituted therefor or with any national securities exchange,
as the case may be (other than amendments to any registration statement (to the extent such registration statement, in the form it became
effective, is delivered to the Administrative Agent), exhibits to any registration statement and, if applicable, any registration statement
on Form S-8), and in any case not otherwise required to be delivered to the Administrative Agent pursuant to any other clause of
this Section 6.02;

 

(3)           promptly
after the furnishing thereof, copies of any notices of default to any holder of any class or series of debt securities of any Loan Party
having an aggregate outstanding principal amount greater than the Threshold Amount (in each case, other than in connection with any board
observer rights) and not otherwise required to be furnished to the Administrative Agent pursuant to any other clause of this Section 6.02;

 

(4)           together
with the delivery of the Compliance Certificate with respect to the financial statements referred to in Section 6.01(1), (a) a
report setting forth the information required by Section 1(a) of the Perfection Certificate (or confirming that there has been
no change in such information since the later of the Closing Date or the last report delivered pursuant to this clause (a)) and (b) a
list of each Subsidiary of the Borrower that identifies each Subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary as of
the date of delivery of such list or a confirmation that there is no change in such information since the later of the Closing Date and
the last such list; and

 

(5)           promptly,
but subject to the limitations set forth in Section 6.10 and Section 10.09, such additional information regarding the business
and financial affairs of any Loan Party or any Material Subsidiary that is a Restricted Subsidiary, or compliance with the terms of the
Loan Documents, as the Administrative Agent may from time to time on its own behalf or on behalf of any Lender reasonably request in
writing from time to time.

 

Documents required to be delivered pursuant to Section 6.01
or Section 6.02(2) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date
(a) on which the Borrower posts such documents, or provides a link thereto, on the Borrower’s (or any Parent Company’s)
website on the Internet at the website address listed on Schedule 10.02 hereto (or as such address may be updated from time to
time in accordance with Section 10.02); or (b) on which such documents are posted on the Borrower’s behalf on IntraLinks/IntraAgency
or another relevant website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party
website or whether sponsored by the Administrative Agent); provided that (i) upon written request by the Administrative Agent,
the Borrower will deliver paper copies of such documents to the Administrative Agent for further distribution by the Administrative Agent
to each Lender (subject to the limitations on distribution of any such information to Public Lenders as described in this Section 6.02)
until a written request to cease delivering paper copies is given by the Administrative Agent and (ii) the Borrower shall notify
(which may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents or link and, upon the Administrative
Agent’s request, provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.
Each Lender shall be solely responsible for timely accessing posted documents or requesting delivery of paper copies of such documents
from the Administrative Agent and maintaining its copies of such documents.

 

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The Borrower hereby acknowledges that (a) the
Administrative Agent will make available to the Lenders and the Issuing Banks materials or information provided by or on behalf of the
Borrower hereunder (collectively, the “Borrower Materials”) by posting the Borrower Materials on Intralinks, SyndTrak,
ClearPar or another similar electronic system (the “Platform”) and (b) certain of the Lenders may have personnel
who do not wish to receive any information with respect to Holdings, their Subsidiaries or their respective securities that is not Public-Side
Information, and who may be engaged in investment and other market-related activities with respect to such Person’s securities
(each, a “Public Lender”). The Borrower hereby agrees that (i) at the Administrative Agent’s request, all
Borrower Materials that are to be made available to Public Lenders will be clearly and conspicuously marked “PUBLIC” which,
at a minimum, means that the word “PUBLIC” will appear prominently on the first page thereof; (ii) by marking Borrower
Materials “PUBLIC,” the Borrower will be deemed to have authorized the Administrative Agent, the Lenders and the Issuing
Banks to treat such Borrower Materials as containing only Public-Side Information (provided, however, that to the extent
such Borrower Materials constitute Information, they will be treated as set forth in Section 10.09); (iii) all Borrower Materials
marked “PUBLIC” and, except to the extent the Borrower notifies the Administrative Agent to the contrary, any Borrower Materials
provided pursuant to Section 6.01(1), 6.01(2) or 6.02(1) are permitted to be made available through a portion of the Platform
designated as “Public Side Information”; and (iv) the Administrative Agent and the Arrangers shall be entitled to treat
Borrower Materials that are not specifically identified as “PUBLIC” as being suitable only for posting on a portion of the
Platform not designated as “Public Side Information.” Notwithstanding the foregoing, the Borrower shall be under no obligation
to mark the Borrower Materials “PUBLIC.”

 

Anything to the contrary notwithstanding, nothing
in this Agreement will require Holdings, the Borrower or any Subsidiary to disclose, permit the inspection, examination or making copies
or abstracts of, or discussion of, any document, information or other matter, or provide information (i) that constitutes non-financial
trade secrets or non-financial proprietary information, (ii) in respect of which disclosure is prohibited by Law or binding agreement
or (iii) that is subject to attorney-client or similar privilege or constitutes attorney work product; provided that in the
event that the Borrower does not provide information that otherwise would be required to be provided hereunder in reliance on the exclusions
in this paragraph relating to violation of any obligation of confidentiality, the Borrower shall use commercially reasonable efforts
to provide notice to the Administrative Agent promptly upon obtaining knowledge that such information is being withheld (but solely if
providing such notice would not violate such obligation of confidentiality).

 

SECTION 6.03       Notices.
Promptly after a Responsible Officer obtains actual knowledge thereof, notify the Administrative Agent of:

 

(1)           the
occurrence of any Default; and

 

(2)           (a) any
dispute, litigation, investigation or proceeding between any Loan Party and any arbitrator or Governmental Authority, (b) the filing
or commencement of, or any material development in, any litigation or proceeding affecting any Loan Party or any of its Subsidiaries,
including pursuant to any applicable Environmental Laws or in respect of IP Rights, the occurrence of any violation by any Loan Party
or any of its Subsidiaries of, or liability under, any Environmental Law or Environmental Permit, or (c) the occurrence of any ERISA
Event that, in any such case referred to in clauses (a), (b) or (c) of this Section 6.03(2), has resulted or would reasonably
be expected to result in a Material Adverse Effect.

 

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Each notice pursuant to this Section 6.03 shall
be accompanied by a written statement of a Responsible Officer of the Borrower (a) that such notice is being delivered pursuant
to Section 6.03(1) or (2) (as applicable) and (b) setting forth details of the occurrence referred to therein and
stating what action the Borrower has taken and proposes to take with respect thereto.

 

SECTION 6.04       Payment
of Taxes. Timely pay, discharge or otherwise satisfy, as the same shall become due and payable, all of its obligations and liabilities
in respect of Taxes imposed upon it or upon its income or profits or in respect of its property, except, in each case, to the extent
(1) any such Tax is being contested in good faith and by appropriate actions for which appropriate reserves have been established
in accordance with GAAP or (2) the failure to pay or discharge the same would not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect.

 

SECTION 6.05       Preservation
of Existence, etc.

 

(1)           Preserve,
renew and maintain in full force and effect its legal existence under the Laws of the jurisdiction of its organization; and

 

(2)           take
all reasonable action to obtain, preserve, renew and keep in full force and effect its rights, licenses, permits, privileges,
franchises, and IP Rights material to the conduct of its business, except in the case of clause (1) or (2) to the
extent (other than with respect to the preservation of the existence of the Borrower) that failure to do so would not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect or pursuant to any merger, consolidation, liquidation,
dissolution or disposition permitted by Article VII.

 

SECTION 6.06       Maintenance
of Properties. Except if the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect, maintain, preserve and protect all of its material properties and equipment used in the operation of its business in
good working order, repair and condition, ordinary wear and tear excepted and casualty or condemnation excepted and any repairs and replacements
that are the obligation of the owner or landlord of any property leased by the Borrower or any of the Restricted Subsidiaries excepted.

 

SECTION 6.07       Maintenance
of Insurance.

 

(1)           Maintain
with insurance companies that the Borrower believes (in the good faith judgment of its management) are financially sound and reputable
at the time the relevant coverage is placed or renewed or with a Captive Insurance Subsidiary, insurance with respect to the Borrower’s
and the Restricted Subsidiaries’ properties and business against loss or damage of the kinds customarily insured against by Persons
engaged in the same or similar business, of such types and in such amounts (after giving effect to any self-insurance reasonable and
customary for similarly situated Persons engaged in the same or similar businesses as the Borrower and the Restricted Subsidiaries) as
are customarily carried under similar circumstances by such other Persons, and will furnish to the Lenders, upon written request from
the Administrative Agent, information presented in reasonable detail as to the insurance so carried; provided that notwithstanding
the foregoing, in no event will the Borrower or any Restricted Subsidiary be required to obtain or maintain insurance that is more restrictive
than its normal course of practice. Subject to Section 6.13(2), each such policy of insurance will, as appropriate, (i) name
the Collateral Agent, on behalf of the Secured Parties, as an additional insured thereunder as its interests may appear or (ii) in
the case of each casualty insurance policy, contain an additional loss payable clause or endorsement that names the Collateral Agent,
on behalf of the Secured Parties, as the additional loss payee thereunder.

 

(2)           If
any improved portion of any Mortgaged Property is at any time located in an area identified by the Federal Emergency Management Agency
(or any successor agency) as a special flood hazard area with respect to which flood insurance has been made available under the Flood
Insurance Laws, then the Borrower will, or will cause each Loan Party to (a) maintain, or cause to be maintained, flood insurance
in an amount and otherwise sufficient to comply with all applicable rules and regulations promulgated pursuant to the Flood Insurance
Laws and (b) deliver to the Collateral Agent evidence of such compliance in form and substance reasonably acceptable to the Collateral
Agent; provided that to the extent that the requirements of this Section 6.07 are not satisfied on the Closing Date, the
Borrower may satisfy such requirements in accordance with the Collateral and Guarantee Requirement and Section 6.11(2) but
in no event later than ten (10) days prior to the recording of the Mortgages and other real estate items to be delivered pursuant
to the Collateral and Guarantee Requirement and Section 6.11(2).

 

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SECTION 6.08       Compliance
with Laws. Comply with the requirements of all Laws and all orders, writs, injunctions and decrees of any Governmental Authority
applicable to it or to its business or property (except if the failure to comply therewith would not reasonably be expected individually
or in the aggregate to have a Material Adverse Effect), and comply in all material respects with the USA PATRIOT Act, anti-money laundering
and anti-terrorism laws, Beneficial Ownership Regulations, sanctions administered by OFAC, the FCPA and all other anti-corruption laws.

 

SECTION 6.09       Books
and Records. Maintain proper books of record and account, in which entries that are full, true and correct in all material respects
shall be made of all material financial transactions and matters involving the assets and business of the Borrower or such Restricted
Subsidiary, as the case may be (it being understood and agreed that certain Foreign Subsidiaries may maintain individual books and records
in conformity with generally accepted accounting principles in their respective countries of organization and that such maintenance shall
not constitute a breach of the representations, warranties or covenants hereunder).

 

SECTION 6.10       Inspection
Rights. Permit representatives and independent contractors of the Administrative Agent and each Lender to visit and inspect any of
its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom and to discuss
its affairs, finances and accounts with its directors, officers, and independent public accountants (subject to such accountants’
customary policies and procedures), all at the reasonable expense of the Borrower and at such reasonable times during normal business
hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; provided that only the Administrative
Agent on behalf of the Lenders may exercise rights of the Administrative Agent and the Lenders under this Section 6.10 and the Administrative
Agent shall not exercise such rights more often than two (2) times during any calendar year absent the existence of an Event of
Default and only one (1) such time shall be at the Borrower’s expense; provided further that when an Event of Default
exists, the Administrative Agent (or any of its representatives or independent contractors) may do any of the foregoing at the expense
of the Borrower at any time during normal business hours and upon reasonable advance notice. The Administrative Agent shall give the
Borrower the opportunity to participate in any discussions with the Borrower’s independent public accountants. For the avoidance
of doubt, this Section 6.10 is subject to the last paragraph of Section 6.02.

 

SECTION 6.11       Covenant
to Guarantee Obligations and Give Security. At the Borrower’s expense, subject to the provisions of the Collateral and Guarantee
Requirement and any applicable limitation in any Collateral Document, take all action necessary or reasonably requested by the Administrative
Agent or the Collateral Agent to ensure that the Collateral and Guarantee Requirement continues to be satisfied, including:

 

(1)           (a) (x) upon
(i) the formation or acquisition of any new direct or indirect wholly owned Material Domestic Subsidiary (other than any Excluded
Subsidiary) by any Loan Party, (ii) the designation of any existing direct or indirect wholly owned Material Domestic Subsidiary
(other than any Excluded Subsidiary) as a Restricted Subsidiary, (iii) any Subsidiary (other than any Excluded Subsidiary) becoming
a wholly owned Material Domestic Subsidiary or (iv) an Excluded Subsidiary that is a wholly owned Material Domestic Subsidiary ceasing
to be an Excluded Subsidiary but continuing as a Restricted Subsidiary, (y) upon the acquisition of any material assets by any Loan
Party or (z) with respect to any Subsidiary at the time it becomes a Loan Party, for any material assets held by such Subsidiary
(in each case, other than assets constituting Collateral under a Collateral Document that becomes subject to the Lien created by such
Collateral Document upon acquisition thereof (without limitation of the obligations to perfect such Lien)):

 

(b) within sixty (60) days (or such greater
number of days specified below) after such formation, acquisition or designation or, in each case, such longer period as the Administrative
Agent may agree in its reasonable discretion, cause each such Material Domestic Subsidiary that is required to become a Subsidiary Guarantor
under the Collateral and Guarantee Requirement to execute the Guaranty (or a joinder thereto) and other documentation the Administrative
Agent may reasonably request from time to time in order to carry out more effectively the purposes of the Guaranty and the Collateral
Documents and

 

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(A)          within
sixty (60) days (or within one hundred and twenty (120) days in the case of documents listed in Section 6.11(2)(b)) after such formation,
acquisition or designation, cause each such Material Domestic Subsidiary that is required to become a Subsidiary Guarantor pursuant to
the Collateral and Guarantee Requirement to duly execute and deliver to the Collateral Agent, Mortgages and the other items listed in
Section 6.11(2)(b), mutatis mutandis, with respect to any Material Real Property, supplements to the Security Agreement,
a counterpart signature page to the Intercompany Note, Intellectual Property Security Agreements and other security agreements
and documents (if applicable), as reasonably requested by and in form and substance reasonably satisfactory to the Collateral Agent (consistent
with the Security Agreement, Intellectual Property Security Agreements and other Collateral Documents in effect on the Closing Date
as amended and in effect from time to time), in each case granting and perfecting Liens required by the Collateral and Guarantee Requirement;

 

(B)           within
sixty (60) days after such formation, acquisition or designation, cause each such Material Domestic Subsidiary that is required to become
a Subsidiary Guarantor pursuant to the Collateral and Guarantee Requirement to deliver any and all certificates representing Equity Interests
(to the extent certificated) that are required to be pledged pursuant to the Collateral and Guarantee Requirement, accompanied by undated
stock powers or other appropriate instruments of transfer executed in blank and, if applicable, a joinder to the Intercompany Note substantially
in the form of Annex I thereto with respect to the intercompany Indebtedness held by such Material Domestic Subsidiary and required to
be pledged pursuant to the Collateral Documents;

 

(C)           within
sixty (60) days (or within one hundred and twenty (120) days in the case of documents listed in Section 6.11(2)(b)) after such formation,
acquisition or designation, take and cause (i) the applicable Material Domestic Subsidiary that is required to become a Subsidiary
Guarantor pursuant to the Collateral and Guarantee Requirement and (ii) to the extent applicable, each direct or indirect parent
of such applicable Material Domestic Subsidiary, in each case, to take customary action(s) (including the recording of Mortgages,
the filing of Uniform Commercial Code financing statements and delivery of stock and membership interest certificates to the extent certificated)
as may be necessary in the reasonable opinion of the Administrative Agent to vest in the Collateral Agent (or in any representative of
the Collateral Agent designated by it) valid and perfected (subject to Liens permitted by Section 7.01) Liens required by the Collateral
and Guarantee Requirement, enforceable against all third parties in accordance with their terms, except as such enforceability may be
limited by Debtor Relief Laws and by general principles of equity (regardless of whether enforcement is sought in equity or at law);
and

 

(D)          within
sixty (60) days (or one hundred and twenty (120) days in the case of documents described in Section 6.11(2)(b)) after the
reasonable request therefor by the Administrative Agent (or such longer period as the Administrative Agent may agree in its
reasonable discretion), deliver to the Administrative Agent a signed copy of a customary Opinion of Counsel, addressed to the
Administrative Agent and the Lenders, of counsel for the Loan Parties reasonably acceptable to the Administrative Agent as to such
matters set forth in this Section 6.11(1) as the Administrative Agent may reasonably request;

 

provided that
actions relating to Liens on real property are governed by Section 6.11(2) and not this Section 6.11(1).

 

(2)           Material
Real Property.

 

(a)           Notice.

 

(i)            Within
sixty (60) days (or such longer period as the Collateral Agent may agree in its reasonable discretion), after the formation, acquisition
or designation of a Material Domestic Subsidiary that is required to become a Subsidiary Guarantor under the Collateral and Guarantee
Requirement, the Borrower will, or will cause such Material Domestic Subsidiary to, furnish to the Collateral Agent a description of
any Material Real Property (other than any Excluded Asset(s)) owned by such Material Domestic Subsidiary.

 

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(ii)           Within
sixty (60) days (or such longer period as the Collateral Agent may agree in its reasonable discretion), after the acquisition of any
Material Real Property (other than any Excluded Asset(s)) by a Loan Party (other than Holdings), after the Closing Date, the Borrower
will, or will cause such Loan Party to, furnish to the Collateral Agent a description of any such Material Real Property.

 

(b)           Mortgages.
The Borrower will, or will cause the applicable Loan Party to, provide the Collateral Agent with a Mortgage with respect to any Material
Real Property that is the subject of a notice delivered pursuant to Section 6.11(2)(a), within one hundred and twenty (120) days
of the acquisition, formation or designation of such Material Domestic Subsidiary or the acquisition of such Material Real Property (or
such longer period as the Collateral Agent may agree in its sole discretion), together with:

 

(i)            evidence
that counterparts of the Mortgages have been duly executed, acknowledged and delivered and are in form suitable for filing or recording
in all filing or recording offices that the Collateral Agent may deem reasonably necessary or desirable in order to create, except to
the extent otherwise provided hereunder, including subject to Liens permitted by Section 7.01, a valid and subsisting perfected
Lien on such Material Real Property in favor of the Collateral Agent for the benefit of the Secured Parties and that all filing and recording
taxes and fees have been paid or otherwise provided for in a manner reasonably satisfactory to the Collateral Agent;

 

(ii)            fully
paid American Land Title Association Lender’s Extended Coverage title insurance policies or the equivalent or other form available
in each applicable jurisdiction (the “Mortgage Policies”) in form and substance, with endorsements available in the
applicable jurisdiction without surveys (it being agreed that zoning reports from a nationally recognized zoning company shall
be acceptable in lieu of zoning endorsements to title policies in any jurisdiction where there is a material difference in the cost of
zoning reports and zoning endorsements) and in amounts, reasonably acceptable to the Collateral Agent (not to exceed the fair market
value of the real properties covered thereby), issued, coinsured and reinsured by title insurers reasonably acceptable to the Collateral
Agent, insuring the Mortgages to be valid subsisting Liens on the property described therein, subject only to Liens permitted by Section 7.01
or such other Liens reasonably satisfactory to the Collateral Agent that do not have a material adverse impact on the use or value of
the Mortgaged Properties, and providing for such other affirmative insurance and such coinsurance and direct access reinsurance as the
Collateral Agent may reasonably request and is available in the applicable jurisdiction;

 

(iii)          customary
Opinions of Counsel for the applicable Loan Parties in states in which such Material Real Properties are located, with respect to the
enforceability and perfection of the Mortgage(s) and any related fixture filings and the due authorization, execution and delivery
of the Mortgages, in form and substance reasonably satisfactory to the Collateral Agent;

 

(iv)          American
Land Title/American Congress on Surveying and Mapping surveys (or, if reasonably acceptable to the Collateral Agent, zip or express maps)
for each Material Real Property or existing surveys together with no change affidavits, in each case certified to the Collateral Agent
if deemed necessary by the Collateral Agent in its reasonable discretion, sufficient for the title insurance company issuing a Mortgage
Policy to remove the standard survey exception and issue standard survey related endorsements and otherwise reasonably satisfactory to
the Collateral Agent;

 

(v)          
a completed “Life-of-Loan” Federal Emergency Management Agency standard flood hazard determination with respect to each
Material Real Property containing improved land addressed to the Collateral Agent and otherwise in compliance with the Flood
Insurance Laws, and if any such Material Real Property is located in an area determined by the Federal Emergency Management Agency
(or any successor agency) to be a special flood hazard area, the Borrower’s duly executed acknowledgement of receipt of
written notification from the Collateral Agent about special flood hazard area status and flood disaster assistance and evidence
that the Borrower or applicable Loan Party has obtained flood insurance reasonably satisfactory to the Collateral Agent that is in
compliance with all applicable requirements of the Flood Insurance Laws; and

 

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(vi)          as
promptly as practicable after the reasonable request therefor by the Collateral Agent, environmental assessment reports and reliance
letters (if any) that have been prepared in connection with such acquisition, designation or formation of any Material Domestic Subsidiary
or acquisition of any Material Real Property; provided that there shall be no obligation to deliver to the Collateral Agent any
environmental assessment report whose disclosure to the Collateral Agent would require the consent of a Person other than the Borrower
or one of its Subsidiaries, where, despite the commercially reasonable efforts of the Borrower to obtain such consent, such consent cannot
be obtained.

 

The Collateral Agent may grant extensions of time for the creation
and perfection of Mortgage Liens in or the obtaining of title insurance, legal opinions or other deliverables with respect to particular
Material Real Property where it determines that such action cannot be accomplished by the time periods set forth in this Agreement or
the Collateral Documents.

 

SECTION 6.12       Compliance
with Environmental Laws. Except, in each case, to the extent that the failure to do so would not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect, (1) comply, and take all reasonable actions to cause any lessees and
other Persons operating or occupying its properties to comply, with all applicable Environmental Laws and Environmental Permits (including
any cleanup, removal or remedial obligations) and (2) obtain and renew all Environmental Permits required to conduct its operations
or in connection with its properties.

 

SECTION 6.13       Further
Assurances and Post-Closing Covenant.

 

(1)           Subject
to the provisions of the Collateral and Guarantee Requirement and any applicable limitations in any Collateral Document and in each case
at the expense of the Borrower, promptly upon reasonable request from time to time by the Administrative Agent or the Collateral Agent
or as may be required by applicable Laws (a) correct any material defect or error that may be discovered in the execution, acknowledgment,
filing or recordation of any Collateral Document or other document or instrument relating to any Collateral, and (b) do, execute,
acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates,
assurances and other instruments as the Administrative Agent or Collateral Agent may reasonable request from time to time in order to
carry out more effectively the purposes of the Collateral Documents and to satisfy the Collateral and Guarantee Requirement.

 

(2)           As
promptly as practicable, and in any event no later than the deadlines with respect thereto or such later date as the Administrative Agent
reasonably agrees to in writing, deliver the documents or take the actions specified in Schedule 6.13(2).

 

SECTION 6.14       Use
of Proceeds. The proceeds of (a) the Closing Date Term Loans funded on the Closing Date will be used (i) to repay Indebtedness
incurred under the Existing Credit Agreement, together with any premium and accrued and unpaid interest thereon and any fees and expenses
with respect thereto, and (ii) to pay the Transaction Expenses, and (b) any Revolving Loans will be used (i) on the Closing
Date, solely to replace, backstop or cash collateralize letters of credit, letters of guarantee or banker acceptances outstanding on
the Closing Date and (ii) after the Closing Date, for working capital and general corporate purposes and for any other purpose not
prohibited by the Loan Documents.

 

SECTION 6.15       Maintenance
of Ratings. Use commercially reasonable efforts to maintain (1) a public corporate credit rating (but not any specific rating)
from S&P and a public corporate family rating (but not any specific rating) from Moody’s, in each case in respect of the Borrower,
and (2) a public rating (but not any specific rating) in respect of each Term Facility as of the Closing Date from each of S&P
and Moody’s.

 

SECTION 6.16       Transactions
with Affiliates.

 

(a)            Not
make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or
assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or
for the benefit of, any Affiliate of the Borrower (each of the foregoing, an “Affiliate Transaction”) involving aggregate
payments or consideration in excess of $25.0 million, unless (A) such Affiliate Transaction is on terms, taken as a whole, that
are not materially less favorable to the Borrower or the relevant Restricted Subsidiary than those that would have been obtained at such
time in a comparable transaction by the Borrower or such Restricted Subsidiary with a Person other than an Affiliate of the Borrower
on an arm’s-length basis or, if in the good faith judgment of the Board of Directors no comparable transaction is available with
which to compare such Affiliate Transaction, such Affiliate Transaction is otherwise fair to the Borrower or such Restricted Subsidiary
from a financial point of view, and (B) the Borrower delivers to the Administrative Agent with respect to any Affiliate Transaction
or series of related Affiliate Transactions requiring aggregate payments or consideration in excess of $100.0 million, a resolution adopted
by the majority of the Board of Directors approving such Affiliate Transaction and set forth in an Officer’s Certificate certifying
that such Affiliate Transaction complies with clause (A) above.

 

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(b)           The
foregoing restriction will not apply to the following:

 

(1)           (a) transactions
between or among the Borrower and one or more Restricted Subsidiaries or between or among Restricted Subsidiaries or, in any case, any
entity that becomes a Restricted Subsidiary as a result of such transaction and (b) any merger, consolidation or amalgamation of
the Borrower and any Parent Company; provided that such merger, consolidation or amalgamation of the Borrower is otherwise in
compliance with the terms of this Agreement and effected for a bona fide business purpose;

 

(2)            (a) Restricted
Payments permitted by Section 7.05 (including any transaction specifically excluded from the definition of the term “Restricted
Payments,” including pursuant to the exceptions contained in the definition thereof and the parenthetical exclusions of such definition,
but excluding any Restricted Payment permitted by Section 7.05(b)(14)(g)), (b) any Permitted Investment(s) or any acquisition
otherwise permitted hereunder and (c) Indebtedness permitted by Section 7.02;

 

(3)           the
payment of management, consulting, monitoring, transaction, advisory and other fees pursuant to a Permitted Holder (including any unpaid
management, consulting, monitoring, transaction, advisory and other fees, indemnities and expenses accrued in any prior year) so long
as any such payment is not materially disadvantageous in the good faith judgment of the Board of Directors to the Lenders when taken
as a whole,

 

(4)           the
payment of indemnification and similar amounts to, and reimbursement of expenses to, the Permitted Holders and their officers, directors,
employees and Affiliates, in each case, approved by, or pursuant to arrangements approved by, the Board of Directors,

 

(5)           payments,
loans, advances or guarantees (or cancellation of loans, advances or guarantees) to future, present or former employees, officers, directors,
managers, consultants or independent contractors or guarantees in respect thereof for bona fide business purposes or in the ordinary
course of business or consistent with industry practice,

 

(6)           any
subscription agreement or similar agreement pertaining to the repurchase of Equity Interests pursuant to put/call rights or similar rights
with current, former or future officers, directors, employees, managers, consultants and independent contractors of the Borrower, any
Subsidiary or any Parent Company and

 

(7)           any
payment of compensation or other employee compensation, benefit plan or arrangement, any health, disability or similar insurance plan
which covers current, former or future officers, directors, employees, managers, consultants and independent contractors of the Borrower,
any Subsidiary or any Parent Company;

 

(8)         
  the payment of fees and compensation paid to, and indemnities and reimbursements and employment and severance arrangements provided
to, or on behalf of or for the benefit of, present, future or former employees, directors, officers, members of management,
consultants or independent contractors (or their respective Controlled Investment Affiliates or Immediate Family Members or any
permitted transferees thereof) of the Borrower, any Parent Company or any Restricted Subsidiary;

 

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(9)           transactions
in which the Borrower or any Restricted Subsidiary, as the case may be, delivers to the Administrative Agent a letter from an Independent
Financial Advisor stating that such transaction is fair to the Borrower or such Restricted Subsidiary from a financial point of view
or stating that the terms, when taken as a whole, are not materially less favorable to the Borrower or the relevant Restricted Subsidiary
than those that would have been obtained in a comparable transaction by the Borrower or such Restricted Subsidiary with a Person that
is not an Affiliate of the Borrower on an arm’s-length basis;

 

(10)         the
existence of, or the performance by the Borrower or any Restricted Subsidiary of its obligations under the terms of, any agreement as
in effect as of the Closing Date, or any amendment thereto or replacement thereof (so long as any such amendment or replacement is not
materially disadvantageous in the good faith judgment of the Board of Directors to the Lenders, when taken as a whole, as compared to
the applicable agreement as in effect on the Closing Date);

 

(11)           the
existence of, or the performance by the Borrower or any Restricted Subsidiary of its obligations under the terms of, any equity holders
agreement or the equivalent (including any registration rights agreement or purchase agreement related thereto) to which it is a party
as of the Closing Date and any amendment thereto and, similar agreements or arrangements that it may enter into thereafter; provided
that the existence of, or the performance by the Borrower or any Restricted Subsidiary of obligations under any future amendment
to any such existing agreement or arrangement or under any similar agreement or arrangement entered into after the Closing Date will
only be permitted by this clause (11) to the extent that the terms of any such amendment or new agreement or arrangement are not
otherwise materially disadvantageous in the good faith judgment of the Board of Directors to the Lenders, when taken as a whole, as compared
to the original agreement or arrangement in effect on the Closing Date;

 

(12)         the
Transactions and the payment of all fees and expenses related to the Transactions, including Transaction Expenses;

 

(13)         transactions
with customers, clients, suppliers, contractors, joint venture partners or purchasers or sellers of goods or services, or transactions
otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business or consistent with industry
practice and otherwise in compliance with the terms of this Agreement that are fair to the Borrower and the Restricted Subsidiaries,
in the reasonable determination of the Board of Directors or the senior management of the Borrower, or are on terms at least as favorable
as might reasonably have been obtained at such time from an unaffiliated party;

 

(14)         the
issuance, sale or transfer of Equity Interests (other than Disqualified Stock) of the Borrower or any Parent Company to any Person and
the granting and performing of customary rights (including registration rights) in connection therewith, and any contribution to the
capital of the Borrower;

 

(15)         sales
of accounts receivable, or participations therein, or Securitization Assets or related assets in connection with any Qualified Securitization
Facility and any other transaction effected in connection with a Qualified Securitization Facility or a financing related thereto;

 

(16)         payments
by the Borrower or any Restricted Subsidiary made for any financial advisory, consulting, financing, underwriting or placement services
or in respect of other investment banking activities, including in connection with acquisitions or divestitures, which payments are approved
by, or made pursuant to arrangements approved by, a majority of the Board of Directors in good faith;

 

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(17)         payments
with respect to Indebtedness, Disqualified Stock and other Equity Interests (and cancellation of any thereof) of the Borrower, any Parent
Company and any Restricted Subsidiary and Preferred Stock (and cancellation of any thereof) of any Restricted Subsidiary to any future,
current or former employee, director, officer, member of management, consultant or independent contractor (or their respective Controlled
Investment Affiliates or Immediate Family Members or permitted transferees) of the Borrower, any of its Subsidiaries or any Parent Company
pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any equity
subscription or equity holder agreement that are, in each case, approved by the Borrower in good faith; and any employment agreements,
severance arrangements, stock option plans and other compensatory arrangements (and any successor plans thereto) and any supplemental
executive retirement benefit plans or arrangements with any such employees, directors, officers, members of management, consultants or
independent contractors (or their respective Controlled Investment Affiliates or Immediate Family Members or any permitted transferees
thereof) that are, in each case, approved by the Borrower in good faith;

 

(18)         (a) investments
by Affiliates in securities or Indebtedness of the Borrower or any Restricted Subsidiary (and payment of reasonable out-of-pocket expenses
incurred by such Affiliates in connection therewith) so long as the investment is being offered by the Borrower or such Restricted Subsidiary
generally to other investors on the same or more favorable terms and (b) payments to Affiliates in respect of securities or Indebtedness
of the Borrower or any Restricted Subsidiary contemplated in the foregoing subclause (a) or that were acquired from Persons other
than the Borrower and the Restricted Subsidiaries, in each case, in accordance with the terms of such securities or Indebtedness;

 

(19)         payments
to or from, and transactions with, any joint venture or Unrestricted Subsidiary in the ordinary course of business or consistent with
past practice, industry practice or industry norms (including, any cash management activities related thereto);

 

(20)         payments
by the Borrower (and any Parent Company) and its Subsidiaries pursuant to tax sharing agreements among the Borrower (and any Parent Company)
and its Subsidiaries; provided that in each case the amount of such payments by the Borrower and its Subsidiaries are permitted
under Section 7.05(b)(14);

 

(21)         any
lease entered into between the Borrower or any Restricted Subsidiary, as lessee and any Affiliate of the Borrower, as lessor, and any
transaction(s) pursuant to that lease, which lease is approved by the Board of Directors or senior management of the Borrower in
good faith;

 

(22)         intellectual
property licenses in the ordinary course of business or consistent with industry practice;

 

(23)         the
payment of reasonable out-of-pocket costs and expenses relating to registration rights and indemnities provided to equity holders of
the Borrower or any Parent Company pursuant to any equity holders agreement or registration rights agreement entered into on or after
the Closing Date;

 

(24)         transactions
permitted by, and complying with, Section 7.03 solely for the purpose of (a) reorganizing to facilitate any initial public
offering of securities of the Borrower or any Parent Company, (b) forming a holding company or (c) reincorporating the Borrower
in a new jurisdiction;

 

(25)         transactions
undertaken in good faith (as determined by the Board of Directors or certified by senior management of the Borrower in an Officer’s
Certificate) for the purposes of improving the consolidated tax efficiency of the Borrower and its Restricted Subsidiaries and not for
the purpose of circumventing Articles VI and VII of this Agreement; so long as such transactions, when taken as a whole, do not result
in a material adverse effect on the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties, when taken as
a whole, in each case, as determined in good faith by the Board of Directors or certified by senior management of the Borrower in an
Officer’s Certificate;

 

(26)         (a) transactions
with a Person that is an Affiliate of the Borrower (other than an Unrestricted Subsidiary) solely because the Borrower or any Restricted
Subsidiary owns Equity Interests in such Person and (b) transactions with any Person that is an Affiliate solely because a director
or officer of such Person is a director or officer of the Borrower, any Restricted Subsidiary or any Parent Company;

 

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(27)         (a) pledges
and other transfers of Equity Interests in Unrestricted Subsidiaries and (b) any transactions with an Affiliate in which the consideration
paid consists solely of Equity Interests of the Borrower or a Parent Company;

 

(28)         the
sale, issuance or transfer of Equity Interests (other than Disqualified Stock) of the Borrower;

 

(29)         investments
by any Permitted Holder or Parent Company in securities or Indebtedness of the Borrower or any Guarantor;

 

(30)         payments
in respect of (a) the Obligations (or any Credit Agreement Refinancing Indebtedness) or (b) other Indebtedness, Disqualified
Stock or Preferred Stock of the Borrower and its Subsidiaries held by Affiliates; provided that such Obligations were acquired
by an Affiliate of the Borrower in compliance herewith; and

 

(31)         transactions
undertaken in the ordinary course of business pursuant to membership in a purchasing consortium.

 

SECTION 6.17       Change
in Nature of Business. Not engage in any material line of business substantially different from those lines of business conducted
by the Borrower and the Restricted Subsidiaries on the Closing Date or any business(es) or any other activities that are reasonably similar,
ancillary, incidental, complementary or related to, or a reasonable extension, development or expansion of, the business conducted or
proposed to be conducted by the Borrower and the Restricted Subsidiaries on the Closing Date.

 

SECTION 6.18       Holdings.
Holdings shall not engage in any material operating or business activities; provided that the following and any activities incidental
thereto shall be permitted in any event:

 

(i)            its
ownership of the Equity Interests of the Borrower and its other Subsidiaries, including receipt and payment of Restricted Payments and
other amounts in respect of Equity Interests,

 

(ii)           the
maintenance of its legal existence (including the ability to incur and pay, as applicable, fees, costs and expenses and taxes relating
to such maintenance) and other activities incidental to being a public reporting company,

 

(iii)          the
performance of its obligations with respect to the Transactions, the Loan Documents, and any other documents governing Indebtedness permitted
hereby,

 

(iv)          any
public offering of its common equity or any other issuance, registration or sale of its Equity Interests,

 

(v)           financing
activities, including the issuance of securities, incurrence of debt, receipt and payment of dividends and distributions, making contributions
to the capital of its Subsidiaries and guaranteeing the obligations of the Borrower and its other Subsidiaries,

 

(vi)          if
applicable, participating in tax, accounting and other administrative matters as a member of the consolidated group and the provision
of administrative and advisory services (including treasury and insurance services) to its Subsidiaries of a type customarily provided
by a holding company to its Subsidiaries,

 

(vii)         holding
any cash or property (but not operate any property),

 

(viii)        providing
indemnification to officers and directors,

 

(ix)           merging,
amalgamating or consolidating with or into any Person (in compliance with Section 7.03), (x) repurchases of Indebtedness through
open market purchases and Dutch auctions,

 

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(x)            activities
incidental to Permitted Acquisitions or similar Investments consummated by the Borrower and the Restricted Subsidiaries, including the
formation of acquisition vehicle entities and intercompany loans and/or Investments incidental to such Permitted Acquisitions or similar
Investments,

 

(xi)           any
transaction with the Borrower and/or any Restricted Subsidiary to the extent expressly permitted under Article 7,

 

(xii)          activities
and contractual rights and obligations incidental to any equity compensation plan, and

 

(xiii)         any
activities incidental or reasonably related to the foregoing.

 

Article VII

 

Negative Covenants

 

So long as the Termination Conditions are not satisfied:

 

SECTION 7.01        Liens.
The Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to, directly or indirectly, create, incur or assume any
Lien (except any Permitted Lien(s)) that secures obligations under any Indebtedness or any related guarantee of Indebtedness on any asset
or property of the Borrower or any Restricted Subsidiary, or any income or profits therefrom.

 

The expansion of Liens by virtue of accretion or
amortization of original issue discount, the payment of dividends in the form of Indebtedness, and increases in the amount of Indebtedness
outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an incurrence of Liens for
purposes of this Section 7.01.

 

For purposes of determining compliance with this
Section 7.01, (A) a Lien need not be incurred solely by reference to one category of Permitted Liens described in the definition
thereof, but is permitted to be incurred in part under any combination thereof and of any other available exemption and (B) in the
event that a Lien (or any portion thereof) meets the criteria of one or more of the categories of Permitted Liens, the Borrower will,
in its sole discretion, be entitled to divide, classify or reclassify, in whole or in part, any such Lien (or any portion thereof) among
one or more of such categories or clauses in any manner.

 

SECTION 7.02       Indebtedness.

 

(a)           The
Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to, directly or indirectly:

 

(i)           create,
incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise (collectively, “incur”
and collectively, an “incurrence”) with respect to any Indebtedness (including Acquired Indebtedness), or

 

(ii)           issue
any shares of Disqualified Stock or permit any Restricted Subsidiary to issue any shares of Disqualified Stock or Preferred Stock;

 

provided
that the Borrower may incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and any
Restricted Subsidiary may incur Indebtedness (including Acquired Indebtedness), issue shares of Disqualified Stock and issue shares of
Preferred Stock, in each case, if (any Indebtedness, Disqualified Stock or Preferred Stock incurred or issued pursuant to following clauses
(A), (B), (C) and (D), “Permitted Ratio Debt”):

 

(A)           with
respect to Indebtedness secured on a pari passu basis with the First Lien Obligations, the Secured Net Leverage Ratio for the
Test Period preceding the date on which such additional Indebtedness is incurred (or, in the case of Indebtedness under Designated Revolving
Commitments, on the date such Designated Revolving Commitments are established after giving pro forma effect to the incurrence
of the entire committed amount of Indebtedness thereunder, in which case such committed amount under such Designated Revolving Commitments
may thereafter be borrowed and reborrowed, in whole or in part, from time to time, without further compliance with this proviso) (without
netting any cash received from the incurrence of such Indebtedness proposed to be incurred) would be no greater than either (I) 5.00
to 1.00 or (II) if such Indebtedness is incurred in connection with a Permitted Acquisition or other similar Investment permitted
hereunder, the greater of (1) 5.50 to 1.00 and (2) the Secured Net Leverage Ratio for the Test Period most recently ended calculated
on a pro forma basis after giving effect to any such incurrence would be no greater than the Secured Net Leverage Ratio
immediately prior to giving effect to such incurrence;

 

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(B)           with
respect to Indebtedness secured by Liens on a basis that is junior in priority to the First Lien Obligations, the Secured Net Leverage
Ratio for the Test Period preceding the date on which such additional Indebtedness is incurred (or, in the case of Indebtedness under
Designated Revolving Commitments, on the date such Designated Revolving Commitments are established after giving pro forma effect
to the incurrence of the entire committed amount of Indebtedness thereunder, in which case such committed amount under such Designated
Revolving Commitments may thereafter be borrowed and reborrowed, in whole or in part, from time to time, without further compliance with
this proviso) (without netting any cash received from the incurrence of such Indebtedness proposed to be incurred) would be no greater
than either (I) 5.00 to 1.00 or (II) if such Indebtedness is incurred in connection with a Permitted Acquisition or other similar
Investment permitted hereunder, the greater of (1) 5.50 to 1.00 and (2) the Secured Net Leverage Ratio for the Test Period
most recently ended calculated on a pro forma basis after giving effect to any such incurrence would be no greater than
the Secured Net Leverage Ratio immediately prior to giving effect to such incurrence; or

 

(C)           with
respect to unsecured Indebtedness, any other Indebtedness not included in clause (A) or (B) above, or any Disqualified Stock
or Preferred Stock, either (I) the Fixed Charge Coverage Ratio for the Test Period preceding the date on which such additional Indebtedness
is incurred or such Disqualified Stock or Preferred Stock is issued (or, in the case of Indebtedness under Designated Revolving Commitments,
on the date such Designated Revolving Commitments are established after giving pro forma effect to the incurrence of the entire
committed amount of Indebtedness thereunder, in which case such committed amount under such Designated Revolving Commitments may thereafter
be borrowed and reborrowed, in whole or in part, from time to time, without further compliance with this proviso) would be at least either
(x) 2.00 to 1.00 or (y) if such Indebtedness is incurred in connection with a Permitted Acquisition or other Investment permitted
hereunder, the lesser of (1) 2.00 to 1.00 and (2) the Fixed Charge Coverage Ratio after giving effect to any such incurrence
would be no less than the Fixed Charge Coverage Ratio immediately prior to giving effect to such incurrence or (II) the Total Net
Leverage Ratio for the Test Period preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or
Preferred Stock is issued (or, in the case of Indebtedness under Designated Revolving Commitments, on the date such Designated Revolving
Commitments are established after giving pro forma effect to the incurrence of the entire committed amount of Indebtedness thereunder,
in which case such committed amount under such Designated Revolving Commitments may thereafter be borrowed and reborrowed, in whole or
in part, from time to time, without further compliance with this proviso) (without netting any cash received from the incurrence of such
Indebtedness proposed to be incurred) would be no greater than either (x) 6.50 to 1.00 or (y) if such Indebtedness is incurred
in connection with a Permitted Acquisition or other similar Investment permitted hereunder, the greater of (1) 7.00 to 1.00 and
(2) the Total Net Leverage Ratio for the Test Period most recently ended calculated on a pro forma basis after giving
effect to any such incurrence would be no greater than the Total Net Leverage Ratio immediately prior to giving effect to such incurrence,

 

in each case, determined on a pro forma basis (including
a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, or the Disqualified
Stock or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning
of such Test Period; plus

 

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(D)           in
the case of Indebtedness secured by Liens on a basis that is junior in priority to the First Lien Obligations or that is unsecured, an
amount not exceeding $250.0 million;

 

provided
further that (A) Restricted Subsidiaries that are not Guarantors may not incur Indebtedness or issue Disqualified Stock
or Preferred Stock under this Section 7.02(a) if, after giving pro forma effect to such incurrence or issuance (including
a pro forma application of the net proceeds therefrom), the aggregate principal amount of Indebtedness, liquidation preference
of Disqualified Stock and amount of Preferred Stock of such Restricted Subsidiaries incurred or issued pursuant to this Section 7.02(a),
together with any principal amounts incurred, issued or acquired by such Restricted Subsidiaries under Section 7.02(b)(14) and Refinancing
Indebtedness in respect of any of the foregoing (excluding any Incremental Amounts), in each case then outstanding, would exceed (as
of the date such Indebtedness, Disqualified Stock or Preferred Stock is issued, incurred or otherwise obtained) the greater of (I) $74.0
million and (II) 25.0% of Consolidated EBITDA of the Borrower and the Restricted Subsidiaries for the most recently ended Test Period
(calculated on a pro forma basis), (B) Permitted Ratio Debt (x) shall not mature earlier than the Original Term Loan
Maturity Date and (y) shall have a Weighted Average Life to Maturity not shorter than the remaining Weighted Average Life to Maturity
of the Term B Loans on the date of incurrence of such Permitted Ratio Debt, (C) the terms and provisions of Permitted Ratio Debt
shall be as agreed between the Borrower and the applicable lenders providing such Permitted Ratio Debt, and, to the extent not identical
to the Facilities hereunder existing at the time of incurrence of such Permitted Ratio Debt, shall either, at the option of the Borrower,
(I) reflect market terms and conditions (taken as a whole) at the time of incurrence of such Indebtedness (as determined by the
Borrower in good faith), (II) be not materially more restrictive to the Borrower (as determined by the Borrower in good faith),
when taken as a whole, than the terms of the any then outstanding Facility, as applicable, except to the extent necessary to provide
for (x) covenants and other terms applicable to any period after the Latest Maturity Date in effect immediately prior to the incurrence
of such Indebtedness, or (y) subject to the immediately succeeding proviso, a Previously Absent Financial Maintenance Covenant;
provided that, notwithstanding anything to the contrary contained herein, if any such terms of such Indebtedness contain a Previously
Absent Financial Maintenance Covenant that is in effect prior to the applicable Latest Maturity Date, such Previously Absent Financial
Maintenance Covenant shall be included for the benefit of each Facility; provided further, that if (x) such Indebtedness
that includes a Previously Absent Financial Maintenance Covenant consists of a revolving credit facility (whether or not the documentation
therefor includes any other facilities) and (y) the applicable Previously Absent Financial Maintenance Covenant is included only
for the benefit of such revolving credit facility, the Previously Absent Financial Maintenance Covenant shall not be required to be included
in this Agreement for the benefit of any Term Facility hereunder or (III) if neither clause (I) or (II) are satisfied,
such terms, provisions and documentation shall be reasonably satisfactory to the Administrative Agent, and (x) subject to Section 1.07(8),
no Event of Default shall then exist or would exist immediately after giving effect to such Indebtedness.

 

(b)           The
provisions of Section 7.02(a) will not apply to:

 

(1)           Indebtedness
under the Loan Documents (including Incremental Loans, Other Loans, Extended Term Loans, Loans made pursuant to Extended Revolving Commitments
and Replacement Loans);

 

(2)           [reserved];

 

(3)           the
incurrence of Indebtedness by the Borrower and any Restricted Subsidiary in existence on the Closing Date (excluding Indebtedness described
in the preceding clause (1)); provided that any such item of Indebtedness with an aggregate outstanding principal amount
on the Closing Date in excess of $5.0 million shall be set forth on Schedule 7.02;

 

(4)           the
incurrence of Attributable Indebtedness and Indebtedness (including Capitalized Lease Obligations and Purchase Money Obligations) and
Disqualified Stock incurred or issued by the Borrower or any Restricted Subsidiary and Preferred Stock issued by any Restricted Subsidiary,
to finance the purchase, lease, expansion, construction, installation, replacement, repair or improvement of property (real or personal),
equipment or other assets, including assets that are used or useful in a Similar Business, whether through the direct purchase of assets
or the Capital Stock of any Person owning such assets, in an aggregate principal amount, together with any Refinancing Indebtedness in
respect thereof (excluding any Incremental Amounts) and all other Indebtedness, Disqualified Stock or Preferred Stock incurred or issued
and outstanding under this clause (4), at such time not to exceed (as of the date such Indebtedness, Disqualified Stock or Preferred
Stock is issued, incurred or otherwise obtained) the greater of (I) $74.0 million and (II) 25.0% of Consolidated EBITDA of
the Borrower and the Restricted Subsidiaries for the most recently ended Test Period (calculated on a pro forma basis);

 

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(5)           Indebtedness
incurred by the Borrower or any Restricted Subsidiary (a) constituting reimbursement obligations with respect to letters of credit,
bank guarantees, banker’s acceptances, warehouse receipts, or similar instruments issued or entered into, or relating to obligations
or liabilities incurred, in the ordinary course of business or consistent with past practice or industry practice, including in respect
of workers’ compensation claims, bid, indemnity, warranty, release, appeal, performance, completion or surety bonds, health, disability
or other employee benefits or property, casualty or liability insurance or self-insurance, unemployment insurance or other social security
legislation or other Indebtedness with respect to reimbursement-type obligations regarding workers’ compensation claims, bid, indemnity,
warranty, release, appeal, performance, completion or surety bonds, health, disability or other employee benefits or property, casualty
or liability insurance or self-insurance or (b) as an account party in respect of letters of credit, bank guarantees or similar
instruments in favor of suppliers, trade creditors or other Persons issued or incurred in the ordinary course of business or consistent
with past practice or industry practice;

 

(6)           the
incurrence of Indebtedness arising from agreements of the Borrower or any Restricted Subsidiary providing for indemnification, adjustment
of purchase price, earnouts or similar obligations, in each case, incurred or assumed in connection with the acquisition or disposition
of any business, assets or a Subsidiary, other than guarantees of Indebtedness incurred by any Person acquiring all or any portion of
such business, assets or a Subsidiary for the purpose of financing such acquisition;

 

(7)           the
incurrence of Indebtedness by the Borrower and owing to a Restricted Subsidiary or the issuance of Disqualified Stock of the Borrower
to a Restricted Subsidiary (or to any Parent Company which is substantially contemporaneously transferred to any Restricted Subsidiary)
to the extent permitted by Section 7.05; provided that any such Indebtedness for borrowed money owing to a Restricted Subsidiary
that is not a Guarantor is expressly subordinated in right of payment to the Loans to the extent permitted by applicable law and it does
not result in adverse tax consequences; provided further that any subsequent issuance or transfer of any Capital Stock or any
other event that results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of
any such Indebtedness or Disqualified Stock (except to the Borrower or another Restricted Subsidiary or any pledge of such Indebtedness
or Disqualified Stock constituting a Permitted Lien) will be deemed, in each case, to be an incurrence of such Indebtedness (to the extent
such Indebtedness is then outstanding) or issuance of such Disqualified Stock (to the extent such Disqualified Stock is then outstanding)
not permitted by this clause (7);

 

(8)           the
incurrence of Indebtedness of a Restricted Subsidiary to the Borrower or another Restricted Subsidiary (or to any Parent Company which
is substantially contemporaneously transferred to the Borrower or any Restricted Subsidiary) to the extent permitted by Section 7.05;
provided that any such Indebtedness for borrowed money incurred by a Guarantor and owing to a Restricted Subsidiary that is not
a Guarantor is expressly subordinated in right of payment to the Guaranty of the Loans of such Guarantor to the extent permitted by applicable
law and it does not result in adverse tax consequences; provided further that any subsequent issuance or transfer of any Capital
Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any such subsequent
transfer of any such Indebtedness (except to the Borrower or a Restricted Subsidiary or any pledge of such Indebtedness constituting
a Permitted Lien) will be deemed, in each case, to be an incurrence of such Indebtedness (to the extent such Indebtedness is then outstanding)
not permitted by this clause (8);

 

(9)           the
issuance of shares of Preferred Stock or Disqualified Stock of a Restricted Subsidiary to the Borrower or a Restricted Subsidiary (or
to any Parent Company which is substantially contemporaneously transferred to the Borrower or any Restricted Subsidiary) to the extent
permitted by Section 7.05; provided that any subsequent issuance or transfer of any Capital Stock or any other event that
results in any such Restricted Subsidiary that holds such Preferred Stock or Disqualified Stock ceasing to be a Restricted Subsidiary
or any other subsequent transfer of any such shares of Preferred Stock or Disqualified Stock (except to the Borrower or another Restricted
Subsidiary or any pledge of such Preferred Stock or Disqualified Stock constituting a Permitted Lien) will be deemed, in each case, to
be an issuance of such shares of Preferred Stock or Disqualified Stock (to the extent such Preferred Stock or Disqualified Stock is then
outstanding) not permitted by this clause (9);

 

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(10)           the
incurrence of Hedging Obligations (excluding Hedging Obligations entered into for speculative purposes);

 

(11)           the
incurrence of obligations in respect of self-insurance and obligations in respect of performance, bid, appeal and surety bonds and performance,
banker’s acceptance facilities and completion guarantees and similar obligations provided by the Borrower or any Restricted Subsidiary
or obligations in respect of letters of credit, bank guarantees or similar instruments related thereto, in each case in the ordinary
course of business or consistent with industry practice, including those incurred to secure health, safety and environmental obligations;

 

(12)           the
incurrence of Indebtedness or issuance of Disqualified Stock of the Borrower and the incurrence or issuance of Indebtedness, Disqualified
Stock or Preferred Stock of any Restricted Subsidiary in an aggregate principal amount or liquidation preference that, when aggregated
with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding
and incurred or issued, as applicable, pursuant to this clause (12), together with any Refinancing Indebtedness in respect thereof (excluding
any Incremental Amounts), does not exceed (as of the date such Indebtedness, Disqualified Stock or Preferred Stock is issued, incurred
or otherwise obtained) (i) the greater of (I) $74.0 million and (II) 25.0% of Consolidated EBITDA of the Borrower and
the Restricted Subsidiaries for the most recently ended Test Period (calculated on a pro forma basis) plus, without duplication,
(ii) in the event of any extension, replacement, refinancing, renewal or defeasance of any such Indebtedness, Disqualified Stock
or Preferred Stock, an amount equal to (x) any accrued and unpaid interest on the Indebtedness, any accrued and unpaid dividends
on the Preferred Stock, and any accrued and unpaid dividends on the Disqualified Stock being so refinanced, extended, replaced, refunded,
renewed or defeased plus (y) the amount of any tender premium or penalty or premium required to be paid under the terms of
the instrument or documents governing such Indebtedness, Disqualified Stock or Preferred Stock and any defeasance costs and any fees
and expenses (including original issue discount, upfront fees or similar fees) incurred in connection with the issuance of such new Indebtedness,
Disqualified Stock or Preferred Stock or the extension, replacement, refunding, refinancing, renewal or defeasance of such Indebtedness,
Disqualified Stock or Preferred Stock;

 

(13)           the
incurrence or issuance by the Borrower of Refinancing Indebtedness or the incurrence or issuance by a Restricted Subsidiary of Refinancing
Indebtedness that serves to Refinance any Indebtedness (including any Designated Revolving Commitments) permitted under Section 7.02(a) and
clauses (b)(2) and (3) above, this clause (13) and clauses (14) and (30)(b), or any successive Refinancing Indebtedness with
respect to any of the foregoing;

 

(14)           the
incurrence or issuance of:

 

(a)           Indebtedness
or Disqualified Stock of the Borrower or Indebtedness, Disqualified Stock or Preferred Stock of a Restricted Subsidiary, incurred or
issued to finance an acquisition or investment (or other purchase of assets) or that is assumed by the Borrower or any Restricted Subsidiary
in connection with such acquisition or investment (or other purchase of assets), or

 

(b)           Indebtedness,
Disqualified Stock or Preferred Stock of Persons that are acquired by the Borrower or any Restricted Subsidiary or merged into, amalgamated
or consolidated with the Borrower or a Restricted Subsidiary in accordance with the terms of this Agreement,

 

in the case of the preceding clauses (a) and (b), in
an aggregate principal amount or liquidation preference, together with any Refinancing Indebtedness in respect thereof (excluding any
Incremental Amounts), not to exceed (A) the greater of $74.0 million and 25% of Consolidated EBITDA plus (B) an unlimited
amount so long as in the case of this clause (B) only, after giving pro forma effect to such acquisition, amalgamation, consolidation
or merger, the Borrower would be permitted to incur such Indebtedness as if it were Permitted Ratio Debt pursuant to the applicable test
set forth in clause (A), (B), (C) or (D) of Section 7.02(a);

 

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provided
that Restricted Subsidiaries that are not Guarantors may not incur, issue or acquire Indebtedness or issue Disqualified Stock
or Preferred Stock under clause (14) if, after giving pro forma effect to such incurrence, issuance or acquisition (including
a pro forma application of the net proceeds therefrom), the aggregate principal amount of Indebtedness, liquidation preference
of Disqualified Stock and amount of Preferred Stock of such Restricted Subsidiaries incurred, issued or acquired pursuant to clause (14),
together with any principal amounts incurred, issued or acquired by such Restricted Subsidiaries under Section 7.02(a) and
any Refinancing Indebtedness in respect of any of the foregoing (excluding any Incremental Amounts), in each case then outstanding, would
exceed (as of the date such Indebtedness, Disqualified Stock or Preferred Stock is issued, incurred or otherwise obtained) the greater
of (I) $74.0 million and (II) 25.0% of Consolidated EBITDA of the Borrower and the Restricted Subsidiaries for the most recently
ended Test Period (calculated on a pro forma basis); provided further that with respect to Indebtedness incurred pursuant
to clause (14)(a), (A) such Indebtedness (x) shall not mature earlier than the Original Term Loan Maturity Date and (y) shall
have a Weighted Average Life to Maturity not shorter than the remaining Weighted Average Life to Maturity of the Term B Loans on the
date of incurrence of such Indebtedness, (B) the terms and provisions of such Indebtedness shall be as agreed between the Borrower
and the applicable lenders providing such Indebtedness, and, to the extent not identical to the Facilities hereunder existing at the
time of incurrence of such Indebtedness, shall either, at the option of the Borrower, (I) reflect market terms and conditions (taken
as a whole) at the time of incurrence of such Indebtedness (as determined by the Borrower in good faith), (II) be not materially
more restrictive to the Borrower (as determined by the Borrower in good faith), when taken as a whole, than the terms of the any then
outstanding Facility, as applicable, except to the extent necessary to provide for (x) covenants and other terms applicable to any
period after the Latest Maturity Date in effect immediately prior to the incurrence of such Indebtedness, or (y) subject to the
immediately succeeding proviso, a Previously Absent Financial Maintenance Covenant; provided that, notwithstanding anything to
the contrary contained herein, if any such terms of such Indebtedness contain a Previously Absent Financial Maintenance Covenant that
is in effect prior to the applicable Latest Maturity Date, such Previously Absent Financial Maintenance Covenant shall be included for
the benefit of each Facility; provided further, that if (x) such Indebtedness that includes a Previously Absent Financial
Maintenance Covenant consists of a revolving credit facility (whether or not the documentation therefor includes any other facilities)
and (y) the applicable Previously Absent Financial Maintenance Covenant is included only for the benefit of such revolving credit
facility, the Previously Absent Financial Maintenance Covenant shall not be required to be included in this Agreement for the benefit
of any Term Facility hereunder or (III) if neither clause (I) or (II) are satisfied, such terms, provisions and documentation
shall be reasonably satisfactory to the Administrative Agent, and (C) subject to Section 1.07(8), no Event of Default shall
then exist or would exist immediately after giving effect to such Indebtedness.

 

(15)           the
incurrence of Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument
drawn against insufficient funds in the ordinary course of business or consistent with industry practice;

 

(16)           the
incurrence of Indebtedness of the Borrower or any Restricted Subsidiary supported by letters of credit or bank guarantees issued in connection
herewith, any Credit Agreement Refinancing Indebtedness or Permitted Incremental Equivalent Debt, in each case, in a principal amount
not in excess of the stated amount of such letters of credit or bank guarantees;

 

(17)           (a) the
incurrence of any guarantee by the Borrower or a Restricted Subsidiary of Indebtedness or other obligations of the Borrower or any Restricted
Subsidiary so long as the incurrence of such Indebtedness or other obligations incurred by the Borrower or such Restricted Subsidiary
is permitted by this Agreement, or (b) any co-issuance by the Borrower or any Restricted Subsidiary of any Indebtedness or other
obligations of the Borrower or any Restricted Subsidiary so long as the incurrence of such Indebtedness or other obligations by the Borrower
or such Restricted Subsidiary is permitted by this Agreement;

 

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(18)           the
incurrence of Indebtedness issued by the Borrower or any Restricted Subsidiary to future, present or former employees, directors, officers,
members of management, consultants and independent contractors thereof, their respective Controlled Investment Affiliates or Immediate
Family Members and permitted transferees thereof, in each case to finance the purchase or redemption of Equity Interests of the Borrower
or any Parent Company to the extent described in Section 7.05(b)(4);

 

(19)           customer
deposits and advance payments received in the ordinary course of business or consistent with industry practice from customers for goods
and services purchased in the ordinary course of business or consistent with industry practice;

 

(20)           the
incurrence of (a) Indebtedness owed to banks and other financial institutions incurred in the ordinary course of business or consistent
with industry practice in connection with ordinary banking arrangements to manage cash balances of the Borrower and its Restricted Subsidiaries
and (b) Indebtedness in respect of Cash Management Services, including Cash Management Obligations;

 

(21)           Indebtedness
incurred by a Restricted Subsidiary in connection with bankers’ acceptances, discounted bills of exchange or the discounting or
factoring of receivables for credit management purposes, in each case incurred or undertaken in the ordinary course of business or consistent
with industry practice on arm’s-length commercial terms;

 

(22)           the
incurrence of Indebtedness of the Borrower or any Restricted Subsidiary consisting of (a) the financing of insurance premiums or
(b) take-or-pay obligations contained in supply arrangements in each case, incurred in the ordinary course of business or consistent
with industry practice;

 

(23)           the
incurrence of Indebtedness, Disqualified Stock or Preferred Stock by Restricted Subsidiaries that are not Guarantors and joint ventures
in an aggregate principal amount or liquidation preference that, when aggregated with the principal amount and liquidation preference
of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and incurred or issued, as applicable, pursuant to
this clause (23), together with any Refinancing Indebtedness in respect of any of the foregoing (excluding any Incremental Amounts),
does not exceed (as of the date such Indebtedness is issued, incurred or otherwise obtained) the greater of (I) $80.0 million and
(II) 27.5% of Consolidated EBITDA of the Borrower and the Restricted Subsidiaries for the most recently ended Test Period (calculated
on a pro forma basis);

 

(24)           the
incurrence of Indebtedness by the Borrower or any Restricted Subsidiary undertaken in connection with cash management (including netting
services, automatic clearinghouse arrangements, overdraft protections, employee credit card programs and related or similar services
or activities) with respect to the Borrower, any Subsidiaries or any joint venture in the ordinary course of business or consistent with
industry practice, including with respect to financial accommodations of the type described in the definition of Cash Management Services;

 

(25)           Qualified
Securitization Facilities and, to the extent constituting Indebtedness, Receivables Financing Transactions;

 

(26)           guarantees
incurred in the ordinary course of business or consistent with industry practice in respect of obligations to suppliers, customers, franchisees,
lessors, licensees, sub-licensees and distribution partners and guarantees required by PUCs or other Governmental Authorities in the
ordinary course of business;

 

(27)           the
incurrence of Indebtedness attributable to (but not incurred to finance) the exercise of appraisal rights or the settlement of any claims
or actions (whether actual, contingent or potential) with respect to the Transactions or any other acquisition (by merger, consolidation
or amalgamation or otherwise) in accordance with the terms hereof;

 

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(28)           the
incurrence of Indebtedness representing deferred compensation to employees of any Parent Company, the Borrower or any Restricted Subsidiary,
including Indebtedness consisting of obligations under deferred compensation or any other similar arrangements incurred in connection
with the Transactions, any investment or any acquisition (by merger, consolidation or amalgamation or otherwise) permitted under this
Agreement;

 

(29)           the
incurrence of Indebtedness arising out of any Sale-Leaseback Transaction incurred in the ordinary course of business or consistent with
industry practice;

 

(30)           (a) Credit
Agreement Refinancing Indebtedness and (b) Permitted Incremental Equivalent Debt;

 

(31)           the
incurrence of Indebtedness, Disqualified Stock or Preferred Stock by Restricted Subsidiaries that are not Guarantors to fund working
capital requirements in an aggregate principal amount or liquidation preference that, when aggregated with the principal amount and liquidation
preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and incurred or issued, as applicable,
pursuant to this clause (31), together with any Refinancing Indebtedness in respect thereof (excluding any Incremental Amounts), does
not exceed (as of the date such Indebtedness is issued, incurred or otherwise obtained) the greater of (I) $14.5 million and (II) 5.0%
of Consolidated EBITDA of the Borrower and the Restricted Subsidiaries for the most recently ended Test Period (calculated on a pro
forma basis); and

 

(32)           all
premiums (if any), interest (including post-petition interest), fees, expenses, charges and additional or contingent interest on obligations
described in clauses (1) through (31) above;

 

(c)           For
purposes of determining compliance with this Section 7.02:

 

(1)           in
the event that an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) at any time, whether at the time
of incurrence or upon the application of all or a portion of the proceeds thereof or subsequently, meets the criteria of more than one
of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (1) through (32) above or
is entitled to be incurred pursuant to Section 7.02(a), the Borrower, in its sole discretion, may divide and classify and may subsequently
re-divide and reclassify, such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) and will only be
required to include the amount and type of such Indebtedness, Disqualified Stock or Preferred Stock (or a portion thereof) in such of
the above clauses or under Section 7.02(a) as determined by the Borrower at such time; provided that all Indebtedness
incurred hereunder on the Closing Date will, at all times, be treated as incurred on the Closing Date under Section 7.02(b)(1),
and may not be reclassified;

 

(2)           the
Borrower is entitled to divide and classify an item of Indebtedness, Disqualified Stock or Preferred Stock in more than one of the types
of Indebtedness, Disqualified Stock or Preferred Stock described in Section 7.02(a) and (b), subject to the proviso to the
preceding clause (1) of this Section 7.02(c);

 

(3)           the
principal amount of Indebtedness outstanding under any clause of this Section 7.02 will be determined after giving effect to the
application of proceeds of any such Indebtedness to refinance any such other Indebtedness;

 

(4)           in
the event an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) is incurred or issued pursuant to Section 7.02(b) (other
than Section 7.02(b)(14) or Section 7.02(b)(30)(b) (but, in the case of Section 7.02(b)(30)(b), solely with respect
to Permitted Incremental Equivalent Debt incurred in reliance upon a ratio test)) on the same date that an item of Indebtedness, Disqualified
Stock or Preferred Stock (or any portion thereof) is incurred or issued under Section 7.02(a), 7.02(b)(14) or Section 7.02(b)(30)(b) (but,
in the case of Section 7.02(b)(30)(b), solely with respect to Permitted Incremental Equivalent Debt incurred in reliance upon a
ratio test), then the Fixed Charge Coverage Ratio, or applicable leverage ratio, will be calculated with respect to such incurrence or
issuance under Section 7.02(a), 7.02(b)(14) or Section 7.02(b)(30)(b) (but, in the case of Section 7.02(b)(30)(b),
solely with respect to Permitted Incremental Equivalent Debt incurred in reliance upon a ratio test) without regard to any incurrence
or issuance under Section 7.02(b) (other than with respect to any incurrence under Section 7.02(b)(14) or Section 7.02(b)(30)(b) (but,
in the case of Section 7.02(b)(30)(b), solely with respect to Permitted Incremental Equivalent Debt incurred in reliance upon a
ratio test)); provided that unless the Borrower elects otherwise, the incurrence or issuance of Indebtedness, Disqualified Stock
or Preferred Stock will be deemed incurred or issued first under Section 7.02(a), 7.02(b)(14) or Section 7.02(b)(30)(b) (but,
in the case of Section 7.02(b)(30)(b), solely with respect to Permitted Incremental Equivalent Debt incurred in reliance upon a
ratio test) to the extent permitted with the balance incurred under Section 7.02(b) (other than pursuant to Section 7.02(b)(14)
or Section 7.02(b)(30)(b) (but, in the case of Section 7.02(b)(30)(b), solely with respect to Permitted Incremental Equivalent
Debt incurred in reliance upon a ratio test)); and

 

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(5)           guarantees
of, or obligations in respect of letters of credit relating to, Indebtedness that are otherwise included in the determination of
a particular amount of Indebtedness will not be included in the determination of such amount of Indebtedness; provided that the
incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was incurred in compliance with
this Section 7.02.

 

The accrual of interest or dividends, the accretion
of accreted value, the accretion or amortization of original issue discount and the payment of interest or dividends in the form of additional
Indebtedness, Disqualified Stock or Preferred Stock and increases in the amount of Indebtedness outstanding solely as a result of fluctuations
in the exchange rate of currencies, in each case, will not be deemed to be an incurrence of Indebtedness, Disqualified Stock or Preferred
Stock for purposes of this Section 7.02. Any Indebtedness incurred, or Disqualified Stock or Preferred Stock issued, to refinance
Indebtedness incurred, or Disqualified Stock or Preferred Stock issued, pursuant to clauses (2), (3), (4), (12), (13), (14), (23), (30)
and (31) of Section 7.02(b) will be permitted to include additional Indebtedness, Disqualified Stock or Preferred Stock incurred
to pay (I) any accrued and unpaid interest on the Indebtedness, any accrued and unpaid dividends on the Preferred Stock, and any
accrued and unpaid dividends on the Disqualified Stock being so refinanced, extended, replaced, refunded, renewed or defeased and (II) the
amount of any tender premium or penalty or premium required to be paid under the terms of the instrument or documents governing such
refinanced Indebtedness, Preferred Stock or Disqualified Stock and any defeasance costs and any fees and expenses (including original
issue discount, upfront fees or similar fees) incurred in connection with the issuance of such new Indebtedness, Preferred Stock or Disqualified
Stock or the extension, replacement, refunding, refinancing, renewal or defeasance of such refinanced Indebtedness, Preferred Stock or
Disqualified Stock (and with respect to Indebtedness under Designated Revolving Commitments, including an amount equal to any unutilized
Designated Revolving Commitments being refinanced, extended, replaced, refunded, renewed or defeased to the extent permanently terminated
at the time of incurrence of such Refinancing Indebtedness).

 

For purposes of determining compliance with any
Dollar denominated restriction on the incurrence of Indebtedness or issuance of Disqualified Stock or Preferred Stock, the Dollar equivalent
principal amount of Indebtedness or liquidation preference of Disqualified Stock or amount of Preferred Stock denominated in a foreign
currency will be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness, Disqualified Stock
or Preferred Stock was incurred or issued (or, in the case of revolving credit debt, the date such Indebtedness was first committed or
first incurred (whichever yields the lower Dollar equivalent)); provided that if such Indebtedness, Disqualified Stock or Preferred
Stock is issued to Refinance other Indebtedness, Disqualified Stock or Preferred Stock denominated in a foreign currency, and such refinancing
would cause the applicable Dollar denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect
on the date of such refinancing, such Dollar denominated restriction will be deemed not to have been exceeded so long as the principal
amount of such refinancing Indebtedness, Disqualified Stock or Preferred Stock does not exceed (i) the principal amount of such
Indebtedness, the liquidation preference of such Disqualified Stock or the amount of such Preferred Stock (as applicable) being refinanced,
extended, replaced, refunded, renewed or defeased plus (ii) any accrued and unpaid interest on the Indebtedness, any accrued
and unpaid dividends on the Preferred Stock, and any accrued and unpaid dividends on the Disqualified Stock being so refinanced, extended,
replaced, refunded, renewed or defeased, plus (iii) the amount of any tender premium or penalty or premium required to be
paid under the terms of the instrument or documents governing such refinanced Indebtedness, Preferred Stock or Disqualified Stock and
any defeasance costs and any fees and expenses (including original issue discount, upfront fees or similar fees) incurred in connection
with the issuance of such new Indebtedness, Preferred Stock or Disqualified Stock or the extension, replacement, refunding, refinancing,
renewal or defeasance of such refinanced Indebtedness, Preferred Stock or Disqualified Stock (and with respect to Indebtedness under
Designated Revolving Commitments, including an amount equal to any unutilized Designated Revolving Commitments being refinanced, extended,
replaced, refunded, renewed or defeased to the extent permanently terminated at the time of incurrence of such Refinancing Indebtedness).

 

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The principal amount of any Indebtedness incurred
or Disqualified Stock or Preferred Stock issued to refinance other Indebtedness, Disqualified Stock or Preferred Stock, if incurred or
issued in a different currency from the Indebtedness, Disqualified Stock or Preferred Stock, as applicable, being refinanced, will be
calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness or Disqualified Stock
or Preferred Stock is denominated that is in effect on the date of such refinancing. The principal amount of any non-interest bearing
Indebtedness or other discount security constituting Indebtedness at any date will be the principal amount thereof that would be shown
on a balance sheet of the Borrower dated such date prepared in accordance with GAAP.

 

For purposes of determining compliance with this
Section 7.02, if any Indebtedness is incurred, or Disqualified Stock or Preferred Stock is issued, in reliance on a Basket measured
by reference to a percentage of Consolidated EBITDA, and any refinancing thereof would cause the percentage of Consolidated EBITDA to
be exceeded if calculated based on the Consolidated EBITDA on the date of such refinancing, such percentage of Consolidated EBITDA will
not be deemed to be exceeded to the extent the principal amount of such newly incurred Indebtedness, the liquidation preference of such
newly issued Disqualified Stock or the amount of such newly issued Preferred Stock does not exceed the sum of (i) the principal
amount of such Indebtedness, the liquidation preference of such Disqualified Stock or the amount of such Preferred Stock being refinanced,
extended, replaced, refunded, renewed or defeased, plus (ii) any accrued and unpaid interest on the Indebtedness, any accrued
and unpaid dividends on the Preferred Stock, and any accrued and unpaid dividends on the Disqualified Stock being so refinanced, extended,
replaced, refunded, renewed or defeased, plus (iii) the amount of any tender premium or penalty or premium required to be
paid under the terms of the instrument or documents governing such refinanced Indebtedness, Preferred Stock or Disqualified Stock and
any defeasance costs and any fees and expenses (including original issue discount, upfront fees or similar fees) incurred in connection
with the issuance of such new Indebtedness, Preferred Stock or Disqualified Stock or the extension, replacement, refunding, refinancing,
renewal or defeasance of such refinanced Indebtedness, Preferred Stock or Disqualified Stock (and with respect to Indebtedness under
Designated Revolving Commitments, including an amount equal to any unutilized Designated Revolving Commitments being refinanced, extended,
replaced, refunded, renewed or defeased to the extent permanently terminated at the time of incurrence of such Refinancing Indebtedness).

 

SECTION 7.03        Fundamental
Changes. The Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to, consolidate, amalgamate or merge with
or into or wind up into another Person, or liquidate or dissolve or dispose of (whether in one transaction or in a series of transactions)
all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person (other than as part of
the Transactions), except that:

 

(1)           Holdings
or any Restricted Subsidiary may merge or consolidate with the Borrower (including a merger, the purpose of which is to reorganize the
Borrower into a new jurisdiction); provided that

 

(a)           the
Borrower shall be the continuing or surviving Person,

 

(b)           such
merger or consolidation does not result in the Borrower ceasing to be organized under the Laws of the United States, any state thereof
or the District of Columbia, and

 

(c)           in
the case of a merger or consolidation of Holdings with and into the Borrower,

 

(i)           Holdings
shall not be an obligor in respect of any Indebtedness that is not permitted to be Indebtedness of the Borrower under this Agreement,

 

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(ii)           Holdings
shall have no direct Subsidiaries at the time of such merger or consolidation other than the Borrower,

 

(iii)         no
Event of Default exists at such time or after giving effect to such transaction, and

 

(iv)         after
giving effect to such transaction, a direct parent of the Borrower will (A) expressly assume all the obligations of Holdings under
this Agreement and the other Loan Documents to which Holdings is a party pursuant to a supplement hereto or thereto in form reasonably
satisfactory to the Administrative Agent and the Borrower and (B) pledge 100% of the Equity Interests of the Borrower held by such
direct parent to the Administrative Agent as Collateral to secure the Obligations in form reasonably satisfactory to the Administrative
Agent and the Borrower;

 

(2)           (a) 
any Restricted Subsidiary that is not a Loan Party may merge or consolidate with or into any other Restricted Subsidiary that is not
a Loan Party,

 

(b)           any
Restricted Subsidiary may merge or consolidate with or into any other Restricted Subsidiary that is a Loan Party; provided that
a Loan Party shall be the continuing or surviving Person;

 

(c)           any
merger the sole purpose of which is to reincorporate or reorganize a Loan Party in another jurisdiction in the United States will be
permitted; and

 

(d)           any
Restricted Subsidiary may liquidate or dissolve or change its legal form if the Borrower determines in good faith that such action is
in the best interests of the Borrower and the Restricted Subsidiaries and is not materially disadvantageous to the Lenders;

 

provided
that in the case of clause (d), the Person who receives the assets of such dissolving or liquidated Restricted Subsidiary
that is a Guarantor shall be a Loan Party or such disposition shall otherwise be permitted under Section 7.05 or the definition
of “Permitted Investments”;

 

(3)           any
Restricted Subsidiary may dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower
or another Restricted Subsidiary;

 

(4)           so
long as no Event of Default has occurred and is continuing or would result therefrom, the Borrower may merge or consolidate with (or
dispose of all or substantially all of its assets to) any other Person; provided that (a) the Borrower shall be the continuing
or surviving corporation or (b) if the Person formed by or surviving any such merger or consolidation is not the Borrower (or, in
connection with a disposition of all or substantially all of the Borrower’s assets, is the transferee of such assets) (any such
Person, a “Successor Borrower”):

 

(i)           the
Successor Borrower will:

 

(A)           be
an entity organized or existing under the laws of the United States, any state thereof or the District of Columbia,

 

(B)           expressly
assume all the obligations of the Borrower under this Agreement and the other Loan Documents to which the Borrower is a party pursuant
to a supplement hereto or thereto in form reasonably satisfactory to the Administrative Agent and the Borrower and

 

(C)           deliver
to the Administrative Agent (I) an Officer’s Certificate stating that such merger or consolidation or other transaction and
such supplement to this Agreement or any Loan Document (as applicable) comply with this Agreement and (II) an Opinion of Counsel
including customary organization, due execution, no conflicts and enforceability opinions to the extent reasonably requested by the Administrative
Agent;

 

(ii)           substantially
contemporaneously with such transaction (or at a later date as agreed by the Administrative Agent),

 

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(A)          each
Guarantor, unless it is the other party to such merger or consolidation, will by a supplement to the Guaranty (or in another form reasonably
satisfactory to the Administrative Agent and the Borrower) reaffirm its Guaranty of the Obligations (including the Successor Borrower’s
obligations under this Agreement),

 

(B)           each
Loan Party, unless it is the other party to such merger or consolidation, will, by a supplement to the Security Agreement (or in another
form reasonably satisfactory to the Administrative Agent), confirm its grant or pledge thereunder,

 

(C)           if
reasonably requested by the Administrative Agent, each mortgagor of a Mortgaged Property, unless it is the other party to such merger
or consolidation, will, by an amendment to or restatement of the applicable Mortgage (or other instrument reasonably satisfactory to
the Collateral Agent and the Borrower), confirm that its obligations thereunder shall apply to the Successor Borrower’s obligations
under this Agreement;

 

(iii)          after
giving pro forma effect to such transaction, the Successor Borrower would be permitted to incur at least $1.00 of additional Permitted
Ratio Debt; and

 

(iv)         to
the extent reasonably requested by the Administrative Agent, the Administrative Agent shall have received at least two (2) Business
Days prior to the consummation of such transaction all documentation and other information in respect of the Successor Borrower required
under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act
and Beneficial Ownership Regulations;

 

provided
further that if the foregoing are satisfied, the Successor Borrower will succeed to, and be substituted for, the Borrower
under this Agreement;

 

(5)           so
long as no Event of Default has occurred and is continuing or would result therefrom, Holdings may merge or consolidate with (or dispose
of all or substantially all of its assets to) any other Person; provided that (a) Holdings will be the continuing or surviving
Person or (b) if:

 

(i)           the
Person formed by or surviving any such merger or consolidation is not Holdings,

 

(ii)          Holdings
is not the Person into which the applicable Person has been liquidated or

 

(iii)          in
connection with a disposition of all or substantially all of Holding’s assets, the Person that is the transferee of such assets
is not Holdings (any such Person described in the preceding clauses (i) through (iii), a “Successor Holdings”),
then the Successor Holdings will:

 

(A)           be
an entity organized or existing under the laws of the United States, any state thereof or the District of Columbia,

 

(B)           expressly
assume all the obligations of Holdings under this Agreement and the other Loan Documents to which Holdings is a party pursuant to a supplement
hereto or thereto in form reasonably satisfactory to the Administrative Agent and the Borrower,

 

(C)           pledge
100% of the Equity Interests of the Borrower held by such Successor Holdings to the Administrative Agent as Collateral to secure the
Obligations in accordance with the Security Agreement or otherwise in form and substance reasonably satisfactory to the Administrative
Agent and the Borrower,

 

(D)           if
requested by the Administrative Agent, deliver, or cause the Borrower to deliver, to the Administrative Agent (I) an Officer’s
Certificate stating that such merger or consolidation or other transaction and such supplement to this Agreement or any Collateral Document
(as applicable) comply with this Agreement and (II) an Opinion of Counsel including customary organization, due execution, no conflicts
and enforceability opinions to the extent reasonably requested by the Administrative Agent; and

 

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(iv)           to
the extent reasonably requested by the Administrative Agent, the Administrative Agent shall have received at least two (2) Business
Days prior to the consummation of such transaction all documentation and other information in respect of the Successor Holdings required
under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act
and Beneficial Ownership Regulations;

 

provided
further that if the foregoing are satisfied, the Successor Holdings will succeed to, and be substituted for, Holdings under
this Agreement;

 

(6)           any
Restricted Subsidiary may merge or consolidate with (or dispose of all or substantially all of its assets to) any other Person in order
to effect a Permitted Investment or other investment permitted pursuant to Section 7.05; provided that solely in the case
of a merger or consolidation involving a Loan Party, no Event of Default exists or would result therefrom; provided further that
the continuing or surviving Person will be (a) the Borrower or (b) a Restricted Subsidiary, in each case, which together with
each of its Restricted Subsidiaries, will have complied with the applicable requirements of Section 6.11;

 

(7)           a
merger, dissolution, liquidation, consolidation or disposition, the purpose of which is to effect a disposition permitted pursuant to
Section 7.04 or a disposition that does not constitute any Asset Sale (other than a transaction described in clause (b) of
the definition of Asset Sale);

 

(8)           the
Borrower, Holdings and any Restricted Subsidiary may (a) convert into a corporation, partnership, limited partnership, limited liability
company or trust organized or existing under the laws of the jurisdiction of organization of the Borrower or the laws of a jurisdiction
in the United States and (b) change its name; and

 

(9)           the
Loan Parties and the Restricted Subsidiaries may consummate the Transactions.

 

SECTION 7.04        Asset
Sales. The Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to, consummate any Asset Sale unless:

 

(1)           the
Borrower or such Restricted Subsidiary, as the case may be, receives consideration (including by way of relief from, or by any other
Person assuming responsibility for, any liabilities, contingent or otherwise in connection with such Asset Sale) at least equal to the
fair market value (measured at the time of contractually agreeing to such Asset Sale) of the assets sold or otherwise disposed of, and

 

(2)           except
in the case of a Permitted Asset Swap, with respect to any Asset Sale pursuant to this Section 7.04 for a purchase price in excess
of $7.5 million, at least 75.0% of the consideration for such Asset Sale received by the Borrower or a Restricted Subsidiary, as the
case may be, is in the form of cash or Cash Equivalents; provided that each of the following will be deemed to be cash or Cash
Equivalents for purposes of this clause (2):

 

(a)           any
liabilities (as shown on the Borrower’s or any Restricted Subsidiary’s most recent balance sheet or in the footnotes thereto
or if incurred or accrued subsequent to the date of such balance sheet, such liabilities that would have been reflected on the Borrower’s
or a Restricted Subsidiary’s consolidated balance sheet or in the footnotes thereto if such incurrence or accrual had taken place
on or prior to the date of such balance sheet, as determined in good faith by the Borrower) of the Borrower or any Restricted Subsidiary,
other than liabilities that are by their terms subordinated in right of payment to the Obligations, that are (i) assumed by the
transferee of any such assets (or a third party in connection with such transfer) or (ii) otherwise cancelled or terminated in connection
with the transaction with such transferee (other than intercompany debt owed to the Borrower or a Restricted Subsidiary);

 

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(b)           any
securities, notes or other obligations or assets received by the Borrower or any Restricted Subsidiary from such transferee or in connection
with such Asset Sale (including earnouts and similar obligations) that are converted by the Borrower or a Restricted Subsidiary into
cash or Cash Equivalents, or by their terms are required to be satisfied for cash or Cash Equivalents (to the extent of the cash or Cash
Equivalents received) within 180 days following the closing of such Asset Sale;

 

(c)           any
Designated Non-Cash Consideration received by the Borrower or any Restricted Subsidiary in such Asset Sale having an aggregate fair market
value, taken together with all other Designated Non-Cash Consideration received pursuant to this clause (c) that is at that time
outstanding, not to exceed the greater of (i) $29.5 million and (ii) 10.0% of Consolidated EBITDA of the Borrower and the Restricted
Subsidiaries for the most recently ended Test Period (calculated on a pro forma basis), with the fair market value of each item
of Designated Non-Cash Consideration being measured, at the Borrower’s option, either at the time of contractually agreeing to
such Asset Sale or at the time received and, in either case, without giving effect to any subsequent change(s) in value;

 

(d)           Indebtedness
of any Restricted Subsidiary that ceases to be a Restricted Subsidiary as a result of such Asset Sale (other than intercompany debt owed
to the Borrower or a Restricted Subsidiary), to the extent that the Borrower and each other Restricted Subsidiary are released from any
guarantee of payment of the principal amount of such Indebtedness in connection with such Asset Sale; or

 

(e)           any
Investment, Capital Stock, assets, property or capital or other expenditure of the kind referred to in Section 2.05(2)(b)(ii).

 

To the extent any Collateral is disposed of as expressly
permitted by this Section 7.04 to any Person other than a Loan Party, such Collateral shall automatically be sold free and clear
of the Liens created by the Loan Documents, and, if requested by the Administrative Agent, upon the certification by the Borrower that
such disposition is permitted by this Agreement, the Administrative Agent and the Collateral Agent shall be authorized to take any actions
deemed appropriate in order to effect the foregoing.

 

SECTION 7.05           Restricted
Payments.

 

(a)           The
Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to, directly or indirectly:

 

(A)           declare
or pay any dividend or make any payment or distribution on account of the Borrower’s or any Restricted Subsidiary’s Equity
Interests (in each case, solely in such Person’s capacity as holder of such Equity Interests), including any dividend or distribution
payable in connection with any merger, amalgamation or consolidation, other than:

 

(i)            dividends,
payments or distributions payable solely in Equity Interests (other than Disqualified Stock) of the Borrower or a Parent Company or in
options, warrants or other rights to purchase such Equity Interests; or

 

(ii)           dividends,
payments or distributions by a Restricted Subsidiary so long as, in the case of any dividend, payment or distribution payable on or in
respect of any class or series of securities issued by a Restricted Subsidiary other than a wholly owned Subsidiary, the Borrower or
a Restricted Subsidiary receives at least its pro rata share of such dividend, payment or distribution in accordance with its Equity
Interests in such class or series of securities or such other amount to which it is entitled pursuant to the terms of such Equity Interest;

 

(B)           purchase,
redeem, defease or otherwise acquire or retire for value any Equity Interests of the Borrower or any Parent Company, including in connection
with any merger, amalgamation or consolidation, in each case held by Persons other than the Borrower or a Restricted Subsidiary;

 

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(C)           make
any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each case, prior to any scheduled
repayment, sinking fund payment or final maturity, any Subordinated Indebtedness, other than:

 

(i)           Indebtedness
permitted under clauses (7), (8) and (9) of Section 7.02(b); or

 

(ii)           the
payment, redemption, repurchase, defeasance, acquisition or retirement for value of Subordinated Indebtedness purchased in anticipation
of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such
payment, redemption, repurchase, defeasance, acquisition or retirement; or

 

(D)           make
any Restricted Investment;

 

(all such payments and other actions set forth in clauses (A) through
(D) above being collectively referred to as “Restricted Payments”), unless, at the time of and immediately after
giving effect to such Restricted Payment:

 

(1)           in
the case of a Restricted Payment described in clauses (A) and (B) above utilizing clause 3(a) or (g) below, no Event
of Default will have occurred and be continuing or would occur as a consequence thereof;

 

(2)           [reserved];

 

(3)           such
Restricted Payment, together with the aggregate amount of all other Restricted Payments (including the fair market value of any non-cash
amount) made by the Borrower and its Restricted Subsidiaries after the Closing Date (excluding Restricted Payments permitted by 7.05(b) other
than clause (1) thereof), is less than the sum of (without duplication):

 

(a)           100.0%
of the cumulative Consolidated EBITDA of the Borrower and the Restricted Subsidiaries for the period (taken as one accounting period)
commencing on October 1, 2021 to the end of the most recently ended fiscal quarter for which internal financial statements of the
Borrower are available (as determined in good faith by the Borrower) preceding such Restricted Payment, minus 1.4 times cumulative
Fixed Charges of the Borrower and the Restricted Subsidiaries for such period; plus

 

(b)           100.0%
of the aggregate net cash proceeds and the fair market value of marketable securities or other property received by the Borrower and
its Restricted Subsidiaries since the Closing Date from the issue or sale of:

 

(i)           (A) 
Equity Interests of the Borrower, including Treasury Capital Stock (as defined below), but excluding cash proceeds and the fair market
value of marketable securities or other property received from the sale of:

 

(I)           Equity
Interests to any future, present or former employees, directors, officers, members of management, consultants or independent contractors
(or their respective Controlled Investment Affiliates, Immediate Family Members or any permitted transferees thereof) of the Borrower,
its Subsidiaries or any Parent Company after the Closing Date to the extent such amounts have been applied to Restricted Payments made
in accordance with Section 7.05(b)(4); and

 

(II)           Designated
Preferred Stock; and

 

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(B)           Equity
Interests of Parent Companies, to the extent the proceeds of any such issuance or consideration for any such sale are contributed to
the Borrower (excluding contributions of the proceeds from the sale of Designated Preferred Stock of such companies or contributions
to the extent such amounts have been applied to Restricted Payments made in accordance with Section 7.05(b)(4)); or

 

(ii)           Indebtedness
of the Borrower or any Restricted Subsidiary, that has been converted into or exchanged for Equity Interests of the Borrower or any Parent
Company;

 

provided
that this clause (b) will not include the proceeds from (v) any exercise of the cure right set forth in Section 8.04,
(w) Refunding Capital Stock (as defined below) applied in accordance with Section 7.05(b)(2) below, (x) Equity Interests
or convertible debt securities of the Borrower sold to a Restricted Subsidiary, (y) Disqualified Stock or debt securities that have
been converted into Disqualified Stock or (z) Excluded Contributions; plus

 

(c)           100.0%
of the aggregate amount of cash, Cash Equivalents and the fair market value of marketable securities or other property contributed to
the capital of the Borrower following the Closing Date (including the fair market value of any Indebtedness contributed to the Borrower
or its Subsidiaries for cancellation) or that becomes part of the capital of the Borrower through consolidation, amalgamation or merger
following the Closing Date, in each case not involving cash consideration payable by the Borrower (other than (x) net cash proceeds
of any exercise of the cure right set forth in Section 8.04, (y) cash, Cash Equivalents and marketable securities or other
property that are contributed by a Restricted Subsidiary or (z) Excluded Contributions); plus

 

(d)           100.0%
of the aggregate amount received in cash and the fair market value of marketable securities or other property received by the Borrower
or a Restricted Subsidiary by means of:

 

(i)           the
sale or other disposition (other than to the Borrower or a Restricted Subsidiary) of, or other returns on investments from, Restricted
Investments made by the Borrower or its Restricted Subsidiaries (including cash distributions and cash interest received in respect of
Restricted Investments) and repurchases and redemptions of such Restricted Investments from the Borrower or its Restricted Subsidiaries
(other than by the Borrower or a Restricted Subsidiary) and repayments of loans or advances, and releases of guarantees, which constitute
Restricted Investments made by the Borrower or its Restricted Subsidiaries, in each case after the Closing Date (excluding any Excluded
Contributions made pursuant to clause (2) of the definition thereof);

 

(ii)          the
sale (other than to the Borrower or a Restricted Subsidiary) of Equity Interests of an Unrestricted Subsidiary or a distribution from
an Unrestricted Subsidiary (other than, in each case, to the extent the Investment in such Unrestricted Subsidiary constituted a Permitted
Investment, but including such cash or fair market value to the extent exceeding the amount of such Permitted Investment) or a dividend
from an Unrestricted Subsidiary after the Closing Date (excluding any Excluded Contributions made pursuant to clause (2) of the
definition thereof); or

 

(iii)         any
returns, profits, distributions and similar amounts received on account of any Permitted Investment subject to a dollar-denominated or
ratio based basket (to the extent in excess of the original amount of the Investment); plus

 

(e)           in
the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary or the merger, amalgamation or consolidation of
an Unrestricted Subsidiary into the Borrower or a Restricted Subsidiary or the transfer of all or substantially all of the assets of
an Unrestricted Subsidiary to the Borrower or a Restricted Subsidiary after the Closing Date, the fair market value of the Investment
in such Unrestricted Subsidiary (or the assets transferred) at the time of the redesignation of such Unrestricted Subsidiary as a Restricted
Subsidiary or at the time of such merger, amalgamation, consolidation or transfer of assets, other than to the extent the Investment
in such Unrestricted Subsidiary constituted a Permitted Investment, but, to the extent exceeding the amount of such Permitted Investment,
including such excess amounts of cash or fair market value; plus

 

    	 	173	 

     

    

 

(f)           100%
of the aggregate amount of any Excluded Proceeds (except to the extent utilized to repurchase, redeem, defease, acquire, or retire for
value any Subordinated Indebtedness pursuant to clause (b)(13) below); plus

 

(g)           the
greater of (i) $150.0 million and (ii) 50% of the Consolidated EBITDA of the Borrower and the Restricted Subsidiaries for the
most recently ended Test Period (calculated on a pro forma basis).

 

(b)           The
provisions of Section 7.05(a) will not prohibit:

 

(1)           the
payment of any dividend or other distribution or the consummation of any irrevocable redemption within 60 days after the date of declaration
of the dividend or other distribution or giving of the redemption notice, as the case may be, if at the date of declaration or notice,
the dividend or other distribution or redemption payment would have complied with the provisions of this Section 7.05;

 

(2)           (a) 
the redemption, repurchase, defeasance, discharge, retirement or other acquisition of (i) any Equity Interests of the Borrower,
any Restricted Subsidiary or any Parent Company, including any accrued and unpaid dividends thereon (“Treasury Capital Stock”)
or (ii) Subordinated Indebtedness, in each case, made (x) in exchange for, or out of the proceeds of, a sale or issuance (other
than to a Restricted Subsidiary) of Equity Interests of the Borrower or any Parent Company (in the case of proceeds, to the extent any
such proceeds therefrom are contributed to the Borrower) (in each case, other than Disqualified Stock) (“Refunding Capital Stock”)
and (y) within 120 days of such sale or issuance,

 

(b)           the
declaration and payment of dividends on Treasury Capital Stock out of the proceeds of a sale or issuance (other than to a Restricted
Subsidiary or to an employee stock ownership plan or any trust established by the Borrower or any Restricted Subsidiary) of Refunding
Capital Stock made within 120 days of such sale or issuance, and

 

(c)           if,
immediately prior to the retirement of Treasury Capital Stock, the declaration and payment of dividends thereon by the Borrower was permitted
under clause (6)(a) or (b) of this Section 7.05(b), the declaration and payment of dividends on the Refunding Capital
Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire any Equity
Interests of any Parent Company) in an aggregate amount per annum no greater than the aggregate amount of dividends per annum
that were declarable and payable on such Treasury Capital Stock immediately prior to such retirement;

 

(3)           the
principal payment on, defeasance, redemption, repurchase, exchange or other acquisition or retirement of:

 

(a)           Subordinated
Indebtedness of the Borrower or a Guarantor made (i) by exchange for, or out of the proceeds of the sale, issuance or incurrence
of, new Subordinated Indebtedness of the Borrower or a Guarantor or Disqualified Stock of the Borrower or a Guarantor and (ii) within
120 days of such sale, issuance or incurrence,

 

(b)           Disqualified
Stock of the Borrower or a Guarantor made by exchange for, or out of the proceeds of the sale, issuance or incurrence of Disqualified
Stock or Subordinated Indebtedness of the Borrower or a Guarantor, made within 120 days of such sale, issuance or incurrence,

 

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(c)            Disqualified
Stock of a Restricted Subsidiary that is not a Guarantor made by exchange for, or out of the proceeds of the sale or issuance of, Disqualified
Stock of a Restricted Subsidiary that is not a Guarantor, made within 120 days of such sale or issuance, that, in each case, is Refinancing
Indebtedness incurred or issued, as applicable, in compliance with Section 7.02 and

 

(d)            any
Subordinated Indebtedness or Disqualified Stock that constitutes Acquired Indebtedness;

 

(4)            a
Restricted Payment to pay for the repurchase, retirement or other acquisition or retirement for value of Equity Interests (other than
Disqualified Stock) (including related stock appreciation rights or similar securities) of the Borrower or any Parent Company held by
any future, present or former employee, director, officer, member of management, consultant or independent contractor (or their respective
Controlled Investment Affiliates or Immediate Family Members or any permitted transferees thereof) of the Borrower, any of its Subsidiaries
or any Parent Company pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or
agreement, or any equity subscription or equity holder agreement (including, for the avoidance of doubt, any principal and interest payable
on any notes issued by the Borrower or any Parent Company in connection with any such repurchase, retirement or other acquisition), including
any Equity Interests rolled over by management of the Borrower, any of its Subsidiaries or any Parent Company in connection with the
Transactions; provided that the aggregate amount of Restricted Payments made under this clause (4) does not exceed $30.0
million in any fiscal year with unused amounts in any calendar year being carried over to the next two succeeding calendar years; provided
further that each of the amounts in any calendar year under this clause (4) may be increased by an amount not to exceed:

 

(a)            the
cash proceeds from the sale of Equity Interests (other than Disqualified Stock) of the Borrower and, to the extent contributed to the
Borrower, the cash proceeds from the sale of Equity Interests of any Parent Company, in each case to any future, present or former employees,
directors, officers, members of management, consultants or independent contractors (or their respective Controlled Investment Affiliates
or Immediate Family Members or any permitted transferees thereof) of the Borrower, any of its Subsidiaries or any Parent Company that
occurs after the Closing Date, to the extent the cash proceeds from the sale of such Equity Interests have not otherwise been applied
to the payment of Restricted Payments by virtue of clause (3) of Section 7.05(a); plus

 

(b)           the
amount of any cash bonuses otherwise payable to members of management, employees, directors, consultants or independent contractors (or
their respective Controlled Investment Affiliates or Immediate Family Members or any permitted transferees thereof) of the Borrower,
any of its Subsidiaries or any Parent Company that are foregone in exchange for the receipt of Equity Interests of the Borrower or any
Parent Company pursuant to any compensation arrangement, including any deferred compensation plan; plus

 

(c)            the
cash proceeds of life insurance policies received by the Borrower or its Restricted Subsidiaries (or by any Parent Company to the extent
contributed to the Borrower (other than in the form of Disqualified Stock)) after the Closing Date; minus

 

(d)           the
amount of any Restricted Payments previously made with the cash proceeds described in clauses (a), (b) and (c) of this clause (4);

 

provided
that the Borrower may elect to apply all or any portion of the aggregate increase contemplated by clauses (a), (b) and
(c) above in any calendar year; provided further that cancellation of Indebtedness owing to the Borrower or any Restricted
Subsidiary from any future, present or former employees, directors, officers, members of management, consultants or independent contractors
(or their respective Controlled Investment Affiliates or Immediate Family Members or any permitted transferees thereof) of the Borrower,
any Parent Company or any Restricted Subsidiary in connection with a repurchase of Equity Interests of the Borrower or any Parent Company
will not be deemed to constitute a Restricted Payment for purposes of this Section 7.05 or any other provision of this Agreement;

 

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(5)            the
declaration and payment of dividends or distributions to holders of any class or series of Disqualified Stock of the Borrower or any
Restricted Subsidiary or any class or series of Preferred Stock of any Restricted Subsidiary issued in accordance with Section 7.02,
and to the extent such dividends or distributions are included in the definition of Fixed Charges;

 

(6)            (a) 
the declaration and payment of dividends or distributions to holders of any class or series of Designated Preferred Stock issued by the
Borrower or any Restricted Subsidiary after the Closing Date in accordance with Section 7.02;

 

(b)            the
declaration and payment of dividends or distributions to any Parent Company, the proceeds of which will be used to fund the payment of
dividends or distributions to holders of any class or series of Designated Preferred Stock issued by such Parent Company after the Closing
Date; provided that the amount of dividends and distributions paid pursuant to this clause (b) will not exceed the aggregate
amount of cash actually contributed to the Borrower from the sale of such Designated Preferred Stock; or

 

(c)            the
declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in excess of the dividends declarable and payable
thereon pursuant to clause (2) of this Section 7.05(b);

 

provided
that in the case of each of clauses (a), (b) and (c) of this clause (6), for the most recently ended Test Period
preceding the date of issuance of such Designated Preferred Stock or the declaration of such dividends on Refunding Capital Stock that
is Preferred Stock, after giving effect to such issuance or declaration on a pro forma basis, the Borrower would have had a Fixed
Charge Coverage Ratio of at least 2.00 to 1.00;

 

(7)            (a) 
payments made or expected to be made by the Borrower or any Restricted Subsidiary in respect of withholding or similar taxes payable
by any future, present or former employee, director, officer, member of management, consultant or independent contractor (or their respective
Controlled Investment Affiliates or Immediate Family Members or permitted transferees) of the Borrower, any Restricted Subsidiary or
any Parent Company,

 

(b)            any
repurchases or withholdings of Equity Interests in connection with the exercise of stock options, warrants or similar rights if such
Equity Interests represent a portion of the exercise price of, or withholding obligations with respect to, such options, warrants or
similar rights or required withholding or similar taxes, and

 

(c)            loans
or advances to officers, directors, employees, managers, consultants and independent contractors of the Borrower, any Restricted Subsidiary
or any Parent Company in connection with such Person’s purchase of Equity Interests of the Borrower or any Parent Company; provided
that no cash is actually advanced pursuant to this clause (c) other than to pay taxes due in connection with such purchase,
unless immediately repaid;

 

(8)            [reserved];

 

(9)            Restricted
Payments in an amount that does not exceed the aggregate amount of Excluded Contributions;

 

(10)          Restricted
Payments in an aggregate amount taken together with all other Restricted Payments made pursuant to this clause (10) not to
exceed (as of the date any such Restricted Payment is made) the greater of (a) $150.0 million and (b) 50% of Consolidated EBITDA
of the Borrower and the Restricted Subsidiaries for the most recently ended Test Period (calculated on a pro forma basis); provided
that if this clause (10) is utilized to make a Restricted Investment, the amount deemed to be utilized under this clause (10) will
be the amount of such Restricted Investment at any time outstanding (with the fair market value of such Investment being measured at
the time made and without giving effect to subsequent changes in value, but subject to adjustment as set forth in the definition of “Investment”);

 

    	 	176	 

     

    

 

(11)          distributions
or payments of Securitization Fees;

 

(12)          [reserved];

 

(13)          the
repurchase, redemption, defeasance, acquisition or retirement for value of any Subordinated Indebtedness from Excluded Proceeds (except
to the extent utilized to make Restricted Payments pursuant to clause (f) of Section 7.05(a));

 

(14)          the
declaration and payment of dividends or distributions by the Borrower or any Restricted Subsidiary to, or the making of loans or advances
to, the Borrower or any Parent Company in amounts required for any Parent Company to pay in each case without duplication:

 

(a)            franchise,
excise and similar taxes, and other fees and expenses, required, in each case, to maintain their corporate or other legal existence;

 

(b)            for
any taxable period (or portion thereof) for which the Borrower or any of its Restricted Subsidiaries are members of a consolidated, combined,
unitary or similar income tax group for U.S. federal or applicable foreign, state or local income tax purposes of which a Parent Company
is the common parent (a “Tax Group”), to pay the portion of any U.S. federal, foreign, state or local income Taxes
(as applicable) of such Tax Group for such taxable period that are attributable to the taxable income of the Borrower and /or the applicable
Restricted Subsidiaries (and, to the extent permitted below, the applicable Unrestricted Subsidiaries); provided that for each
taxable period, (A) the amount of such payments made in respect of such taxable period in the aggregate will not exceed the amount
that the Borrower and the applicable Restricted Subsidiaries (and, to the extent permitted below, the applicable Unrestricted Subsidiaries),
as applicable, would have been required to pay in respect of such taxable income as stand-alone taxpayers or a stand-alone Tax Group,
taking into account any net operating losses or other attributes of the Borrower and such Subsidiaries, less any amounts paid directly
by the Borrower and such Subsidiaries with respect to such taxes, and (B) the amount of such payments made in respect of an Unrestricted
Subsidiary will be permitted only to the extent that cash distributions were made by such Unrestricted Subsidiary to the Borrower or
any Restricted Subsidiary for such purpose;

 

(c)            [reserved];

 

(d)            salary,
bonus, severance and other benefits payable to, and indemnities provided on behalf of, employees, directors, officers, members of management,
consultants and independent contractors of any Parent Company, and any payroll, social security or similar taxes thereof;

 

(e)            general
corporate or other operating, administrative, compliance and overhead costs and expenses (including expenses relating to auditing and
other accounting matters) of any Parent Company;

 

(f)            fees
and expenses (including ongoing compliance costs and listing expenses) related to any equity or debt offering of a Parent Company (whether
or not consummated);

 

(g)            amounts
that would be permitted to be paid directly by the Borrower or its Restricted Subsidiaries under Section 6.16(b) (other than
clause 2(a) thereof);

 

(h)            interest
or principal on Indebtedness the proceeds of which have been contributed to the Borrower or any Restricted Subsidiary or that has been
guaranteed by, or is otherwise considered Indebtedness of, the Borrower or any Restricted Subsidiary incurred in accordance with Section 7.02;

 

    	 	177	 

     

    

 

(i)             to
finance Investments or other acquisitions or investments otherwise permitted to be made pursuant to this Section 7.05 if made by
the Borrower; provided that:

 

(i)             such
Restricted Payment must be made within 120 days of the closing of such Investment, acquisition or investment,

 

(ii)            such
Parent Company must, promptly following the closing thereof, cause (A) all property acquired (whether assets or Equity Interests)
to be contributed to the capital of the Borrower or a Restricted Subsidiary or (B) the merger, amalgamation, consolidation or sale
of the Person formed or acquired into the Borrower or a Restricted Subsidiary (to the extent not prohibited by Section 7.03) in
order to consummate such Investment, acquisition or investment,

 

(iii)           such
Parent Company and its Affiliates (other than the Borrower or any Restricted Subsidiary) receives no consideration or other payment in
connection with such transaction except to the extent the Borrower or a Restricted Subsidiary could have given such consideration or
made such payment in compliance with this Agreement,

 

(iv)           any
property received by the Borrower may not increase amounts available for Restricted Payments pursuant to clause (3) of Section 7.05(a),
and

 

(v)            to
the extent constituting an Investment, such Investment will be deemed to be made by the Borrower or such Restricted Subsidiary pursuant
to another provision of this Section 7.05 (other than pursuant to clause (9) of this Section 7.05(b)) or pursuant to the
definition of “Permitted Investments” (other than clause (9) thereof);

 

(15)          the
distribution, by dividend or otherwise, or other transfer or disposition of shares of Capital Stock of, Equity Interests in, or Indebtedness
owed to the Borrower or a Restricted Subsidiary by, Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, substantially all
the assets of which are cash and Cash Equivalents);

 

(16)          cash
payments, or loans, advances, dividends or distributions to any Parent Company to make payments, in lieu of issuing fractional shares
in connection with share dividends, share splits, reverse share splits, mergers, consolidations, amalgamations or other business combinations
and in connection with the exercise of warrants, options or other securities convertible into or exchangeable for Equity Interests of
the Borrower, any Restricted Subsidiary or any Parent Company;

 

(17)          (a) Restricted
Payments described in clauses (A) and (B) of the definition thereof contained in Section 7.05(a); provided that
after giving pro forma effect thereto and the application of the net proceeds therefrom, the Total Net Leverage Ratio for the
Test Period immediately preceding such Restricted Payment would be no greater than 4.50 to 1.00; and (b) Restricted Payments described
in clauses (C) and (D) of the definition thereof contained in Section 7.05(a); provided that after giving pro
forma effect thereto and the application of the net proceeds therefrom, the Total Net Leverage Ratio for the Test Period immediately
preceding such Restricted Payment would be no greater than 4.75 to 1.00;

 

(18)          payments
made for the benefit of the Borrower or any Restricted Subsidiary to the extent such payments could have been made by the Borrower or
any Restricted Subsidiary because such payments (a) would not otherwise be Restricted Payments and (b) would be permitted by
Section 6.16;

 

(19)          payments
and distributions to dissenting stockholders of Restricted Subsidiaries pursuant to applicable law, pursuant to or in connection with
a consolidation, amalgamation, merger or transfer of all or substantially all of the assets of any Restricted Subsidiary that complies
with the terms of this Agreement or any other transaction that complies with the terms of this Agreement;

 

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(20)          the
payment of dividends, other distributions and other amounts by the Borrower to, or the making of loans to, any Parent Company in the
amount required for such parent to, if applicable, pay amounts equal to amounts required for any Parent Company, if applicable, to pay
interest or principal (including AHYDO Payments) on Indebtedness, the proceeds of which have been permanently contributed to the Borrower
or any Restricted Subsidiary and that has been guaranteed by, or is otherwise considered Indebtedness of, the Borrower or any Restricted
Subsidiary incurred in accordance with this Agreement; provided that the aggregate amount of such dividends, distributions, loans
and other amounts shall not exceed the amount of cash actually contributed to the Borrower for the incurrence of such Indebtedness;

 

(21)          the
making of cash payments in connection with any conversion of Convertible Indebtedness of the Borrower or any Restricted Subsidiary in
an aggregate amount since the date of this Agreement not to exceed the sum of (a) the principal amount of such Convertible Indebtedness
plus (b) any payments received by the Borrower or any Restricted Subsidiary pursuant to the exercise, settlement or termination
of any related Permitted Bond Hedge Transaction;

 

(22)          any
payments in connection with (a) a Permitted Bond Hedge Transaction and (b) the settlement of any related Permitted Warrant
Transaction (i) by delivery of shares of the Borrower’s common equity upon settlement thereof or (ii) by (A) set-off
against the related Permitted Bond Hedge Transaction or (B) payment of an early termination amount thereof in common equity upon
any early termination thereof; and

 

(23)          the
refinancing of any Subordinated Indebtedness with the Net Proceeds of, or in exchange for, any Refinancing Indebtedness.

 

provided
that at the time of, and after giving effect to, any Restricted Payment pursuant to clause (17) in respect of Restricted Payments
described in clauses (A), (B) or (C) of the definition thereof, no Event of Default will have occurred and be continuing or
would occur as a consequence thereof. For purposes of clauses (7) and (14) above, taxes will include all interest and penalties
with respect thereto and all additions thereto.

 

(c)            For
purposes of determining compliance with this Section 7.05, in the event that any Restricted Payment or Investment (or any portion
thereof) meets the criteria of more than one of the categories of Restricted Payments described in Section 7.05(a), clauses (1) through
(23) of Section 7.05(b) or one or more of the clauses contained in the definition of “Permitted Investments,” the
Borrower will be entitled to divide or classify (or later divide, classify or reclassify), in whole or in part, in its sole discretion,
such Restricted Payment or Investment (or any portion thereof) among Section 7.05(a), such clauses (1) through (23) of Section 7.05(b) or
one or more clauses contained in the definition of “Permitted Investments,” in any manner.

 

The amount of all Restricted Payments (other than
cash) will be the fair market value on the date the Restricted Payment is made, or at the Borrower’s election, the date a commitment
is made to make such Restricted Payment, of the assets or securities proposed to be transferred or issued by the Borrower or any Restricted
Subsidiary, as the case may be, pursuant to the Restricted Payment.

 

For the avoidance of doubt, this Section 7.05
will not restrict the making of any AHYDO Payment with respect to, and required by the terms of, any Indebtedness of the Borrower or
any Restricted Subsidiary permitted to be incurred under this Agreement.

 

SECTION 7.06     Burdensome
Agreements.

 

(a)            The
Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary that is not a Guarantor (or, solely in the case of clause
(4), that is a Subsidiary Guarantor) to, directly or indirectly, create or otherwise cause to exist or become effective any consensual
encumbrance or consensual restriction (other than this Agreement or any other Loan Document) on the ability of any Restricted Subsidiary
that is not a Guarantor (or, solely in the case of clause (4), that is a Subsidiary Guarantor) to:

 

(1)            (a) 
pay dividends or make any other distributions to the Borrower or any Restricted Subsidiary that is a Guarantor on its Capital Stock or
with respect to any other interest or participation in, or measured by, its profits, or

 

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(b)            pay
any Indebtedness owed to the Borrower or to any Restricted Subsidiary that is a Guarantor;

 

(2)            make
loans or advances to the Borrower or to any Restricted Subsidiary that is a Guarantor;

 

(3)            sell,
lease or transfer any of its properties or assets to the Borrower or to any Restricted Subsidiary that is a Guarantor; or

 

(4)            with
respect to the Borrower or any Subsidiary Guarantor, (a) Guaranty the Obligations or (b) create, incur or cause to exist or
become effective Liens on property of such Person for the benefit of the Lenders with respect to the Obligations under the Loan Documents
to the extent such Lien is required to be given to the Secured Parties pursuant to the Loan Documents;

 

provided
that any dividend or liquidation priority between or among classes or series of Capital Stock, and the subordination of any
obligation (including the application of any remedy bars thereto) to any other obligation will not be deemed to constitute such an encumbrance
or restriction.

 

(b)            Section 7.06(a) will
not apply to any encumbrances or restrictions existing under or by reason of:

 

(a)            encumbrances
or restrictions in effect on the Closing Date, including pursuant to the Loan Documents and any Hedge Agreements, Hedging Obligations
and the related documentation;

 

(b)            Purchase
Money Obligations and Capitalized Lease Obligations that impose restrictions of the nature discussed in clauses (3) and 4(b) above
on the property so acquired;

 

(c)            applicable
Law or any applicable rule, regulation or order;

 

(d)            any
agreement or other instrument of a Person, or relating to Indebtedness or Equity Interests of a Person, acquired by or merged, amalgamated
or consolidated with and into the Borrower or any Restricted Subsidiary or an Unrestricted Subsidiary that is designated as a Restricted
Subsidiary, or any other transaction entered into in connection with any such acquisition, merger, consolidation or amalgamation in existence
at the time of such acquisition or at the time it merges, amalgamates or consolidates with or into the Borrower or any Restricted Subsidiary
or an Unrestricted Subsidiary that is designated as a Restricted Subsidiary or assumed in connection with the acquisition of assets from
such Person (but, in any such case, not created in contemplation thereof), which encumbrance or restriction is not applicable to any
Person, or the properties or assets of any Person, other than the Person so acquired and its Subsidiaries, or the property or assets
of the Person so acquired or designated and its Subsidiaries or the property or assets so acquired or designated;

 

(e)            contracts
or agreements for the sale or disposition of assets, including any restrictions with respect to a Subsidiary of the Borrower pursuant
to an agreement that has been entered into for the sale or disposition of any of the Capital Stock or assets of such Subsidiary;

 

(f)             restrictions
on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business or consistent
with industry practice or arising in connection with any Liens permitted by Section 7.01;

 

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(g)            provisions
in agreements governing Indebtedness, Disqualified Stock or Preferred Stock of Restricted Subsidiaries that are not Guarantors permitted
to be incurred subsequent to the Closing Date pursuant to Section 7.02;

 

(h)            provisions
in joint venture agreements and other similar agreements (including equity holder agreements) relating to such joint venture or its members
or entered into in the ordinary course of business;

 

(i)             customary
provisions contained in leases, sub-leases, licenses, sub-licenses, Equity Interests or similar agreements, including with respect to
intellectual property and other agreements;

 

(j)             restrictions
created in connection with any Qualified Securitization Facility or Receivables Financing Transaction that, in the good faith determination
of the Board of Directors of the Borrower, are necessary or advisable to effect such Qualified Securitization Facility or Receivables
Financing Transaction;

 

(k)            restrictions
or conditions contained in any trading, netting, operating, construction, service, supply, purchase, sale or other agreement to which
the Borrower or any Restricted Subsidiary is a party entered into in the ordinary course of business or consistent with industry practice;
provided that such agreement prohibits the encumbrance of solely the property or assets of the Borrower or such Restricted Subsidiary
that are subject to such agreement, the payment rights arising thereunder or the proceeds thereof and does not extend to any other asset
or property of the Borrower or such Restricted Subsidiary or the assets or property of another Restricted Subsidiary;

 

(l)             customary
provisions restricting subletting or assignment of any lease governing a leasehold interest of the Borrower or any Restricted Subsidiary;

 

(m)           customary
provisions restricting assignment of any agreement;

 

(n)            restrictions
arising in connection with cash or other deposits permitted under Section 7.01;

 

(o)            any
other agreement or instrument governing any Indebtedness, Disqualified Stock, or Preferred Stock permitted to be incurred or issued pursuant
to Section 7.02 entered into after the Closing Date that contains encumbrances and restrictions that either (i) are no more
restrictive in any material respect, taken as a whole, with respect to the Borrower or any Restricted Subsidiary than (A) the restrictions
contained in the Loan Documents or (B) those encumbrances and other restrictions that are in effect on the Closing Date with respect
to the Borrower or that Restricted Subsidiary pursuant to agreements in effect on the Closing Date, (ii) are not materially more
disadvantageous, taken as a whole, to the Lenders than is customary in comparable financings for similarly situated issuers or (iii) will
not materially impair the Borrower’s ability to make payments on the Obligations when due, in each case in the good faith judgment
of the Borrower;

 

(p)            (i) under
terms of Indebtedness and Liens in respect of Indebtedness permitted to be incurred pursuant to Section 7.02(b)(4) and any
permitted refinancing in respect of the foregoing and (ii) agreements entered into in connection with any Sale-Leaseback Transaction
entered into in the ordinary course of business or consistent with industry practice;

 

(q)            customary
restrictions and conditions contained in documents relating to any Lien so long as (i) such Lien is a Permitted Lien and such restrictions
or conditions relate only to the specific asset subject to such Lien and (ii) such restrictions and conditions are not created for
the purpose of avoiding the restrictions imposed by this Section 7.06;

 

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(r)            any
encumbrance or restriction with respect to a Restricted Subsidiary that was previously an Unrestricted Subsidiary which encumbrance or
restriction exists pursuant to or by reason of an agreement that such Subsidiary is a party to or entered into before the date on which
such Subsidiary became a Restricted Subsidiary; provided that such agreement was not entered into in anticipation of an Unrestricted
Subsidiary becoming a Restricted Subsidiary and any such encumbrance or restriction does not extend to any assets or property of the
Borrower or any other Restricted Subsidiary other than the assets and property of such Restricted Subsidiary;

 

(s)            any
encumbrances or restrictions imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements
or refinancings of the contracts, instruments or obligations referred to in clauses (a) through (r) above; provided that
such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the
good faith judgment of the Borrower, no more restrictive in any material respect with respect to such encumbrance and other restrictions,
taken as a whole, than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement
or refinancing;

 

(t)            any
encumbrance or restriction existing under, by reason of or with respect to Refinancing Indebtedness; provided that the encumbrances
and restrictions contained in the agreements governing that Refinancing Indebtedness are, in the good faith judgment of the Borrower,
not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being refinanced;

 

(u)            applicable
law or any applicable rule, regulation or order in any jurisdiction where Indebtedness, Disqualified Stock or Preferred Stock of Foreign
Subsidiaries permitted to be incurred or issued pursuant to Section 7.02 is incurred; and

 

(v)            any
restriction on the transfer or pledge of assets contained in any Cable Franchise Agreement, in any License, authorization or certificate
or otherwise imposed by the Communications Laws, State Telecommunications Laws, or other Governmental Authorization or comparable state
or local legislation, regulations or ordinances or otherwise imposed by Law.

 

SECTION 7.07     Accounting
Changes. The Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to, make any change in fiscal year; provided,
however, that the Borrower may, upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year
reasonably acceptable to the Administrative Agent, in which case, the Borrower and the Administrative Agent will, and are hereby authorized
by the Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year.

 

SECTION 7.08     Modification
of Terms of Subordinated Indebtedness. The Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to, amend,
modify or change in any manner materially adverse to the interests of the Lenders, as determined in good faith by the Borrower, any term
or condition of any Subordinated Indebtedness having an aggregate outstanding principal amount greater than the Threshold Amount (other
than as a result of any Refinancing Indebtedness in respect thereof) without the consent of the Administrative Agent (which consent shall
not be unreasonably withheld or delayed); provided, however, that no amendment, modification or change of any term or condition
of any Subordinated Indebtedness permitted by any subordination provisions set forth in the applicable Subordinated Indebtedness or any
other stand-alone subordination agreement in respect thereof shall be deemed to be materially adverse to the interests of the Lenders.

 

SECTION 7.09     Financial
Covenant. The Borrower and each of the Restricted Subsidiaries covenant and agree that:

 

(1)            If
on the last day of any Test Period (commencing with the fiscal quarter ending March 31, 2022) there are outstanding Revolving Loans
and Letters of Credit (excluding (a) undrawn Letters of Credit in an amount not to exceed $20.0 million and (b) Letters of
Credit to the extent Cash Collateralized or backstopped (whether drawn or undrawn) on terms reasonably acceptable to the applicable Issuing
Bank) in an aggregate principal amount exceeding 35% of the aggregate principal amount of all Revolving Commitments under all outstanding
Revolving Facilities (including any Incremental Revolving Facilities), it shall not permit the Secured Net Leverage Ratio as of the last
day of such Test Period to be greater than 3.75 to 1.00 (such compliance to be determined on the basis of the financial information most
recently delivered to the Administrative Agent pursuant to Section 6.01(1) and Section 6.01(2) for such Test Period)
(the “Financial Covenant”).

 

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(2)            The
provisions of this Section 7.09 are for the benefit of the Revolving Lenders only and the Required Facility Lenders in respect of
the Revolving Facility may amend, waive or otherwise modify this Section 7.09 or the defined terms used in this Section 7.09
(solely in respect of the use of such defined terms in this Section 7.09) or waive any Default or Event of Default resulting from
a breach of this Section 7.09 without the consent of any Lenders other than the Required Facility Lenders in respect of the Revolving
Facility.

 

Article VIII

 

Events of Default and Remedies

 

SECTION 8.01     Events
of Default. Each of the events referred to in clauses (1) through (11) of this Section 8.01 shall constitute an “Event
of Default”:

 

(1)            Non-Payment.
The Borrower fails to pay (a) when and as required to be paid herein, any amount of principal of any Loan or (b) within five
(5) Business Days after the same becomes due, any interest on any Loan or any other amount payable hereunder or with respect to
any other Loan Document; or

 

(2)            Specific
Covenants. The Borrower, any Subsidiary Guarantor or Holdings fails to perform or observe any term, covenant or agreement contained
in any of Section 6.03(1), 6.05(1) (solely with respect to the Borrower and Holdings, other than in a transaction permitted
under Section 7.03 or 7.04) or Article VII; provided that the Borrower’s failure to comply with the Financial
Covenant or the occurrence of an Event of Default with respect to the Revolving Facility only pursuant to Section 7.09(1) (a
 “Financial Covenant Event of Default”) shall not constitute an Event of Default with respect to any Term Loans or
Term Commitments unless and until the Required Facility Lenders for the Revolving Facilities have actually terminated the Revolving Commitments
and declared all Obligations with respect to the Revolving Facility to be immediately due and payable pursuant to Section 8.02 as
a result of such failure to comply (and such declaration has not been rescinded as of the applicable date) (the occurrence of such termination
and declaration by the Required Facility Lenders for the Revolving Facilities, a “Financial Covenant Cross Default”);
provided further that any Financial Covenant Event of Default is subject to cure pursuant to Section 8.04; or

 

(3)            Other
Defaults. The Borrower, any Subsidiary Guarantor or, in the case of Sections 6.11 6.13 and 6.18, Holdings, fails to perform
or observe any other covenant or agreement (not specified in Section 8.01(1) or (2) above) contained in any Loan Document
on its part to be performed or observed and such failure continues for thirty (30) days after receipt by the Borrower of written notice
thereof from the Administrative Agent; or

 

(4)            Representations
and Warranties. Any representation, warranty, certification or statement of fact made or deemed made by any Loan Party herein, in
any other Loan Document, or in any document required to be delivered in connection herewith or therewith shall be untrue in any material
respect when made or deemed made; or

 

(5)            Cross-Default.
Holdings, the Borrower or any Restricted Subsidiary (a) fails to make any payment beyond the applicable grace period, if any, whether
by scheduled maturity, required prepayment, acceleration, demand, or otherwise, in respect of any Indebtedness (other than Indebtedness
hereunder) having an aggregate outstanding principal amount (individually or in the aggregate with all other Indebtedness as to which
such a failure shall exist) of not less than the Threshold Amount, or (b) fails to observe or perform any other agreement or condition
relating to any such Indebtedness, or any other event occurs (other than, with respect to Indebtedness consisting of Hedging Obligations,
termination events or equivalent events pursuant to the terms of such Hedging Obligations and not as a result of any default thereunder
by Holdings, the Borrower or any Restricted Subsidiary), the effect of which default or other event is to cause, or to permit the holder
or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause,
with the giving of notice if required, such Indebtedness to become due or to be repurchased, prepaid, defeased or redeemed (automatically
or otherwise), or an offer to repurchase, prepay, defease or redeem all of such Indebtedness to be made, prior to its stated maturity;
provided that (A) such failure is unremedied and is not waived by the holders of such Indebtedness prior to any termination
of the Commitments or acceleration of the Loans pursuant to Section 8.02 and (B) this clause (5)(b) shall not apply
to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness,
if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness; or

 

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(6)            Insolvency
Proceedings, etc. Holdings, the Borrower, any Restricted Subsidiary that is a Significant Subsidiary or any group of Restricted
Subsidiaries that, taken together, would constitute a Significant Subsidiary, institutes or consents to the institution of any proceeding
under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any
receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer for it
or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator,
administrative receiver or similar officer is appointed without the application or consent of such Person and the appointment continues
undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to
all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for sixty
(60) calendar days, or an order for relief is entered in any such proceeding; or

 

(7)            Judgments.
There is entered against Holdings, the Borrower, any Restricted Subsidiary that is a Significant Subsidiary or any group of Restricted
Subsidiaries that, taken together, would constitute a Significant Subsidiary, a final non-appealable judgment and order for the payment
of money in an aggregate amount exceeding the Threshold Amount (to the extent not paid or covered by insurance or indemnities as to which
the insurer or indemnity has been notified of such judgment or order and the applicable insurance company or indemnity has not denied
coverage thereof) and such judgment or order shall not have been satisfied, vacated, discharged or stayed or bonded pending an appeal
for a period of sixty (60) consecutive days; or

 

(8)            ERISA.
(a) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan, (b) the Borrower or any Subsidiary Guarantor
or any of their respective ERISA Affiliates fails to pay when due, after the expiration of any applicable grace period, any installment
payment with respect to its Withdrawal Liability under Section 4201 of ERISA under a Multiemployer Plan, or (c) with respect
to a Foreign Plan, a termination, withdrawal or noncompliance with applicable Law or plan terms occurs, except, with respect to each
of the foregoing clauses of this Section 8.01(8), as would not reasonably be expected, individually or in the aggregate, to result
in a Material Adverse Effect; or

 

(9)            Invalidity
of Loan Documents. Any material provision of the Loan Documents, taken as a whole, at any time after its execution and delivery and
for any reason (other than (a) as expressly permitted by a Loan Document (including as a result of a transaction permitted under
Section 7.03 or 7.04), (b) as a result of acts or omissions by an Agent or any Lender or (c) due to the satisfaction in
full of the Termination Conditions) ceases to be in full force and effect; or any Loan Party contests in writing the validity or enforceability
of the Loan Documents, taken as a whole (other than as a result of the satisfaction of the Termination Conditions), or any Loan Party
denies in writing that it has any or further liability or obligation under the Loan Documents, taken as a whole (other than (i) as
expressly permitted by a Loan Document (including as a result of a transaction permitted under Section 7.03 or 7.04) or (ii) as
a result of the satisfaction of the Termination Conditions), or purports in writing to revoke or rescind the Loan Documents, taken as
a whole, prior to the satisfaction of the Termination Conditions; or

 

(10)          Collateral
Documents. Any Collateral Document with respect to a material portion of the Collateral after delivery thereof pursuant to Section 4.01,
6.11, 6.13 or pursuant to the provisions of any Collateral Document for any reason (other than pursuant to the terms hereof or thereof
including as a result of a transaction not prohibited under this Agreement) ceases to create, or any Lien purported to be created by
any Collateral Document with respect to a material portion of the Collateral shall be asserted in writing by any Loan Party (prior to
the satisfaction of the Termination Conditions) not to be, a valid and perfected Lien with the priority required by such Collateral Document
(or other security purported to be created on the applicable Collateral) on, and security interest in, any material portion of the Collateral
purported to be covered thereby, subject to Liens permitted under Section 7.01, except to the extent that any such loss of perfection
or priority results from the failure of the Administrative Agent or the Collateral Agent to maintain possession of Collateral actually
delivered to it and pledged under the Collateral Documents, to file Uniform Commercial Code amendments relating to a Loan Party’s
change of name or jurisdiction of formation (solely to the extent that the Borrower provides the Collateral Agent written notice thereof
in accordance with the Security Agreement, and the Collateral Agent and the Borrower have agreed that the Collateral Agent will be responsible
for filing such amendments) or continuation statements and except as to Collateral consisting of real property to the extent that such
losses are covered by a lender’s title insurance policy and such insurer has not denied coverage; or

 

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(11)          Change
of Control.

 

(i)             Solely
with respect to the Revolving Facility, there occurs any Change of Control that is not a Permitted Revolving Change of Control; provided
that the occurrence of a Change of Control that is not a Permitted Revolving Change of Control shall not constitute an Event of Default
(unless such Permitted Revolver Change of Control is also a Permitted Term Loan Change of Control) with respect to any Term Loans or
Term Commitments unless and until the Required Facility Lenders for the Revolving Facilities have actually terminated the Revolving Commitments
and declared all Obligations with respect to the Revolving Facility to be immediately due and payable pursuant to Section 8.02
as a result of such failure to comply (and such declaration has not been rescinded as of the applicable date) (the occurrence of
such termination and declaration by the Required Facility Lenders for the Revolving Facilities, a “Change of Control Cross Default”);

 

(ii)            There
occurs any Change of Control that is not a Permitted Term Loan Change of Control.

 

SECTION 8.02     Remedies
upon Event of Default. Subject to Section 8.04, if any Event of Default occurs and is continuing, the Administrative Agent may
with the consent of the Required Lenders and shall, at the request of the Required Lenders, take any or all of the following actions:

 

(1)            declare
the Commitments of each Lender and any obligation of the Issuing Banks to make L/C Credit Extensions to be terminated, whereupon such
Commitments and obligation will be terminated;

 

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

 

(3)            require
that the Borrower Cash Collateralize the then outstanding Letters of Credit (in an amount equal to the then Outstanding Amount thereof);
and

 

(4)            exercise
on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan Documents or applicable Law;

 

provided
that (a) upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under Title
11 of the United States Code entitled “Bankruptcy,” as now or hereafter in effect, or any successor thereto (the “Bankruptcy
Code”), the Commitments of each Lender and any obligation of the Issuing Banks to issue Letters of Credit, will automatically
terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid will automatically become
due and payable, and the obligation of the Borrower to Cash Collateralize the Letters of Credit as aforesaid will automatically become
effective, in each case without further act of the Administrative Agent or any Lender and (b) notwithstanding anything to the contrary,
if the only Event of Default then having occurred and continuing is pursuant to a Financial Covenant Event of Default, then, unless a
Financial Covenant Cross Default has occurred and is continuing or a Change of Control Cross Default has occurred and is continuing,
the Administrative Agent shall only take the actions set forth in this Section 8.02 at the request (or with the consent) of the
Required Facility Lenders under the Revolving Facilities (as opposed to the Required Lenders) and only with respect to the Revolving
Commitments, Revolving Loans, Letters of Credit and Obligations under the Revolving Facilities.

 

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Notwithstanding
anything to the contrary contained herein or in the other Loan Documents (but without limiting the obligations of the Loan Parties hereunder
or thereunder), neither the Administrative Agent, Collateral Agent nor any Lender shall take any action pursuant hereto with respect
to the Collateral that would constitute or result in any assignment of the Governmental Authorizations issued by the FCC, PUCs, or cable
franchising authorities or transfer of control of Holdings, the Borrower or any of its Restricted Subsidiaries if such assignment or
transfer of control would require, under then existing Communications Laws, State Telecommunications Laws or Cable Franchise Agreements,
the prior approval of the FCC, any PUC or any cable franchising authority, without first obtaining such approval of the FCC, PUC or such
cable franchising authority, as applicable; provided that, for the avoidance of doubt, the actions described in clauses (1), (2) and
(3) of the first paragraph of this Section 8.02 shall not be subject to the limitations described in this sentence.
For the avoidance of doubt, once such an assignment or transfer of control is consummated, the acquiring party in that transaction shall
notify the FCC, PUC or cable franchising authority, as applicable, of the consummation of the assignment or transaction of control (to
the extent required to do so).

 

Subject
to the terms and conditions herein, after the occurrence and during the continuance of any Event of Default, the Borrower agrees to use
commercially reasonable efforts to assist in obtaining any consent, approval or authorization of the FCC, PUCs and any other Governmental
Authority that is then required under the Communications Laws, State Telecommunications Laws, or under any other law or Cable Franchise
Agreement which the Administrative Agent or Collateral Agent may request in order to obtain and enjoy the full rights and benefits granted
to the Administrative Agent and the other Secured Parties by this Agreement, including the execution and delivery of all applications,
certificates, instruments and other documents and papers that the Administrative Agent or Collateral Agent reasonably determines may
be required to obtain such consent, approval or authorization. Without limiting the foregoing, in the event Holdings, the Borrower or
any Subsidiary fails to execute any applications, requests for consent, certificates or other instruments requested by the Administrative
Agent or Collateral Agent or required by the Communications Laws, State Telecommunications Laws, or under any other law or Cable Franchise
Agreement, or any court of competent jurisdiction in order to effect such transfer or change of control, the clerk of any court that
has jurisdiction over this Agreement, to the full extent permitted by applicable Laws, the Administrative Agent or the Collateral Agent
may execute and file the same on behalf of any such Person. Holdings and the Borrower acknowledge that the Governmental Authorizations
issued by the FCC, PUCs, or cable franchising authorities are integral to the Secured Parties’ realization of the value of the
Collateral, that there is no adequate remedy at law for failure by Holdings, the Borrower or any Subsidiary to comply with the provisions
of this Section and that such failure would not be adequately compensable in damages, and therefore agree, without limiting the
right of the Secured Parties to seek and obtain specific performance of other obligations of Holdings, the Borrower or any Subsidiary,
that the agreements contained in this Section may be specifically enforced.

 

SECTION 8.03     Application
of Funds. After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately
due and payable as set forth in the first clause (a) of the proviso to Section 8.02), subject to any Intercreditor Agreement
then in effect, any amounts received on account of the Obligations will be applied by the Administrative Agent in the following order:

 

First,
to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other than principal and interest,
but including Attorney Costs payable under Section 10.04 and amounts payable under Article III) payable to the Administrative
Agent and the Collateral Agent in their capacities as such;

 

Second,
to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and interest, but
including Attorney Costs payable under Section 10.04 and amounts payable under Article III) payable to the Lenders, ratably
among them in proportion to the amounts described in this clause Second payable to them;

 

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Third,
to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans and L/C Borrowings, ratably among
the Lenders 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 and L/C Borrowings (including to Cash Collateralize
that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit), the Obligations under Secured Hedge
Agreements and Cash Management Obligations under Secured Cash Management Agreements, 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 Loan Parties 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.

 

Subject to Section 2.03(3), amounts used to
Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth above will be applied to satisfy drawings
under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either
been fully drawn or expired, such remaining amount will be applied to the other Obligations, if any, in the order set forth above and,
if no Obligations remain outstanding, will be paid to the Borrower.

 

Notwithstanding the foregoing, amounts received
from any Loan Party shall not be applied to any Excluded Swap Obligation of such Loan Party.

 

SECTION 8.04     Right
to Cure.

 

(1)            Notwithstanding
anything to the contrary contained in Section 8.01 or Section 8.02, but subject to Sections 8.04(2) and (3), for the purpose
of determining whether an Event of Default under the Financial Covenant has occurred, the Borrower may on one or more occasions designate
any portion of the Net Proceeds from any Permitted Equity Issuance or of any contribution to the common equity capital of the Borrower
(or from any other contribution to capital or sale or issuance of any other Equity Interests on terms reasonably satisfactory to the
Administrative Agent) (the “Cure Amount”) as an increase to Consolidated EBITDA of the Borrower for the applicable
fiscal quarter; provided that

 

(a)            such
amounts to be designated are actually received by the Borrower (i) on and after the first Business Day of the applicable fiscal
quarter and (ii) on and prior to the tenth (10th) Business Day after the date on which financial statements are required to be delivered
with respect to such applicable fiscal quarter (the “Cure Expiration Date”),

 

(b)            such
amounts to be designated do not exceed the maximum aggregate amount necessary to cure any Event of Default under the Financial Covenant
as of such date, and

 

(c)            the
Borrower will have provided notice to the Administrative Agent on the date such amounts are designated as a “Cure Amount”
(it being understood that to the extent such notice is provided in advance of delivery of a Compliance Certificate for the applicable
period, the amount of such Net Proceeds that is designated as the Cure Amount may be lower than specified in such notice to the extent
that the amount necessary to cure any Event of Default under the Financial Covenant is less than the full amount of such originally designated
amount).

 

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The Cure Amount used to calculate Consolidated EBITDA
for one fiscal quarter will be used and included when calculating Consolidated EBITDA for each Test Period that includes such fiscal
quarter. The parties hereby acknowledge that this Section 8.04(1) may not be relied on for purposes of calculating any financial
ratios other than as applicable to the Financial Covenant (and may not be included for purposes of determining pricing, mandatory prepayments
and the availability or amount permitted pursuant to any covenant under Article VII) and may not result in any adjustment to any
amounts (including the amount of Indebtedness) or increase in cash with respect to the fiscal quarter with respect to which such Cure
Amount was received other than the amount of the Consolidated EBITDA referred to in the immediately preceding sentence, except with respect
to any future fiscal quarters occurring after the fiscal quarter with respect to which such Cure Amount was received to the extent such
proceeds are actually applied to prepay Indebtedness under the Facilities. Notwithstanding anything to the contrary contained in Section 8.01
and Section 8.02, (A) upon designation of the Cure Amount by the Borrower in an amount necessary to cure any Event of Default
under the Financial Covenant, the Financial Covenant will be deemed satisfied and complied with as of the end of the relevant fiscal
quarter with the same effect as though there had been no failure to comply with the Financial Covenant and any Event of Default under
the Financial Covenant (and any other Default as a result thereof) will be deemed not to have occurred for purposes of the Loan Documents
and (B) from and after the date that the Borrower delivers a written notices to the Administrative Agent that it intends to exercise
its cure right under this Section 8.04 (a “Notice of Intent to Cure”) neither the Administrative Agent nor any
Lender may exercise any rights or remedies under Section 8.02 (or under any other Loan Document) on the basis of any actual or purported
Event of Default under the Financial Covenant (and any other Default as a result thereof) until and unless the Cure Expiration Date has
occurred without the Cure Amount having been designated.

 

(2)            In
each period of four consecutive fiscal quarters, there shall be no more than two (2) fiscal quarters in which the cure right set
forth in Section 8.04(1) is exercised.

 

(3)            There
shall be no more than five (5) fiscal quarters in which the cure rights set forth in Section 8.04(1) are exercised during
the term of the Facilities.

 

Article IX

 

Administrative Agent and Other Agents

 

SECTION 9.01     Appointment
and Authorization of the Administrative Agent.

 

(1)            Each
Lender and Issuing Bank hereby irrevocably appoints Morgan Stanley Senior Funding, Inc., to act on its behalf as the Administrative
Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers
as are reasonably incidental thereto. The provisions of this Article IX (other than Sections 9.11 and 9.12) are solely for the benefit
of the Administrative Agent, the Lenders and each Issuing Bank and the Borrower shall not have rights as a third-party beneficiary of
any such provision. The Administrative Agent hereby represents and warrants that it is either (i) a “U.S. person” and
a “financial institution” and that it will comply with its “obligation to withhold,” each within the meaning
of Treasury Regulations Section 1.1441-1(b)(2)(ii) or (ii) a Withholding U.S. Branch.

 

(2)            The
Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of the Lenders (including
in its capacities as a Lender and a potential Hedge Bank or Cash Management Bank) and the Issuing Banks hereby irrevocably appoints and
authorizes the Administrative Agent to act as the agent of (and to hold any security interest created by the Collateral Documents for
and on behalf of or in trust for) such Lender and Issuing Bank for purposes of acquiring, holding and enforcing any and all Liens on
Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably
incidental thereto. In this connection, the Administrative Agent, as “collateral agent” (and any co-agents, sub-agents and
attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.05 for purposes of holding or enforcing any Lien on
the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies thereunder
at the direction of the Administrative Agent), shall be entitled to the benefits of all provisions of this Article IX and Article X
with respect to the Administrative Agent (including Sections 10.04 and 10.05, as though such co-agents, sub-agents and attorneys-in-fact
were the “collateral agent” under the Loan Documents). Without limiting the generality of the foregoing, the Lenders hereby
expressly authorize the Administrative Agent to execute any and all documents (including releases) with respect to the Collateral and
the rights of the Secured Parties with respect thereto (including any Intercreditor Agreement), as contemplated by and in accordance
with the provisions of this Agreement and the Collateral Documents and acknowledge and agree that any such action by any Agent shall
bind the Lenders.

 

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SECTION 9.02     Rights
as a Lender. Any Lender that is also serving as an Agent (including as Administrative Agent) hereunder shall have the same rights
and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent and the term “Lender”
or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each Lender (if
any) serving as an Agent hereunder in its individual capacity. Any such Person serving as an Agent and its Affiliates may accept deposits
from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business
with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent hereunder and without any duty to
account therefor to the Lenders. The Lenders acknowledge that, pursuant to such activities, any Agent or its Affiliates may receive information
regarding any Loan Party or any of its Affiliates (including information that may be subject to confidentiality obligations in favor
of such Loan Party or such Affiliate) and acknowledge that no Agent shall be under any obligation to provide such information to them.

 

SECTION 9.03     Exculpatory
Provisions. The Administrative Agent and Collateral Agent shall not have any duties or responsibilities except those expressly set
forth in this Agreement and in the other Loan Documents. Without limiting the generality of the foregoing, each Agent (including the
Administrative Agent):

 

(1)            shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing and without limiting
the generality of the foregoing, the use of the term “agent” herein and in the other Loan Documents with reference to any
Agent or Arranger is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of
any applicable Law and instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative
relationship between independent contracting parties;

 

(2)            shall
not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly
contemplated hereby or by the other Loan Documents that such Agent is required to exercise as directed in writing by the Required Lenders
(or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided
that no Agent shall be required to take any action that, in its opinion or the opinion of its counsel, may expose such Agent to liability
or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation
of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting
Lender in violation of any Debtor Relief Law; and

 

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

 

Neither the Administrative Agent nor any of its
Related Persons shall be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders
(or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith
shall be necessary, under the circumstances as provided in Sections 10.01 and 8.02) or (ii) in the absence of its own gross negligence
or willful misconduct as determined by the final and non-appealable judgment of a court of competent jurisdiction, in connection with
its duties expressly set forth herein. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until
notice describing such Default is given to the Administrative Agent by the Borrower, a Lender, or an Issuing Bank.

 

No Agent-Related Person shall be responsible for
or have any duty to ascertain or inquire into (i) any recital, statement, warranty or representation made in or in connection with
this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or
thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other
terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness
or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection
or priority of any Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral,
or (vi) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items
expressly required to be delivered to the Administrative Agent. The duties of the Administrative Agent shall be mechanical and administrative
in nature; the Administrative Agent shall not have by reason of this Agreement or any other Loan Document a fiduciary relationship in
respect of any Lender or the holder of any Note; and nothing in this Agreement or in any other Loan Document, expressed or implied, is
intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of this Agreement or any other
Loan Document except as expressly set forth herein or therein.

 

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Notwithstanding any other provision of this Agreement
or any provision of any other Loan Document, each Arranger is named as such for recognition purposes only, and in its capacity as such
shall have no powers, duties, responsibilities or liabilities with respect to this Agreement or the other Loan Documents or the transactions
contemplated hereby and thereby; it being understood and agreed that each Arranger shall be entitled to all indemnification and reimbursement
rights in favor of the Arrangers as, and to the extent, provided for under Section 10.05. Without limitation of the foregoing, each
Arranger shall not, solely by reason of this Agreement or any other Loan Documents, have any fiduciary relationship in respect of any
Lender or any other Person.

 

SECTION 9.04     Lack
of Reliance on the Administrative Agent. Independently and without reliance upon the Administrative Agent, each Lender and the holder
of each Note, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the
financial condition and affairs of Holdings, the Borrower and the Restricted Subsidiaries in connection with the making and the continuance
of the Loans and the taking or not taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness
of Holdings, the Borrower and the Restricted Subsidiaries and, except as expressly provided in this Agreement, the Administrative Agent
shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Lender or the holder of any Note
with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any
time or times thereafter. The Administrative Agent shall not be responsible to any Lender or the holder of any Note for any recitals,
statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection
herewith or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectability, priority or sufficiency
of this Agreement or any other Loan Document or the financial condition of Holdings, the Borrower or any of the Restricted Subsidiaries
or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this
Agreement or any other Loan Document, or the financial condition of Holdings, the Borrower or any of the Restricted Subsidiaries or the
existence or possible existence of any Default or Event of Default.

 

SECTION 9.05     Certain
Rights of the Administrative Agent. If the Administrative Agent requests instructions from the Required Lenders with respect to any
act or action (including failure to act) in connection with this Agreement or any other Loan Document, the Administrative Agent shall
be entitled to refrain from such act or taking such action unless and until the Administrative Agent shall have received instructions
from the Required Lenders; and the Administrative Agent shall not incur liability to any Lender by reason of so refraining. Without limiting
the foregoing, neither any Lender nor the holder of any Note shall have any right of action whatsoever against the Administrative Agent
as a result of the Administrative Agent acting or refraining from acting hereunder or under any other Loan Document in accordance with
the instructions of the Required Lenders.

 

SECTION 9.06     Reliance
by the Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall be fully protected in relying upon,
any note, writing, resolution, notice, statement, certificate, telex, teletype or facsimile message, cablegram, radiogram, order or other
document or telephone message signed, sent or made by any Person that the Administrative Agent believed to be the proper Person, and,
with respect to all legal matters pertaining to this Agreement and any other Loan Document and its duties hereunder and thereunder, upon
advice of counsel selected by the Administrative Agent. In determining compliance with any condition hereunder to the making of a Loan
or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender
or Issuing Bank, the Administrative Agent may presume that such condition is satisfactory to such Lender or Issuing Bank unless the Administrative
Agent shall have received notice to the contrary from such Lender or Issuing Bank prior to the making of such Loan or issuances of such
Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants
and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any
such counsel, accountants or experts.

 

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SECTION 9.07     Delegation
of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any
other Loan Documents by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any
such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Agent-Related
Persons. The exculpatory provisions of this Article shall apply to any such sub agent and to the Agent-Related Persons of the Administrative
Agent and any such sub agent, and shall apply to their respective activities in connection with the syndication of the credit facilities
provided for herein as well as activities as Administrative Agent. Notwithstanding anything to the contrary in this Section 9.07
or Section 9.15, the Administrative Agent shall not delegate to any Supplemental Administrative Agent responsibility for receiving
any payments under any Loan Document for the account of any Lender, which payments shall be received directly by the Administrative Agent,
without prior written consent of the Borrower (not to unreasonably withheld or delayed).

 

SECTION 9.08     Indemnification.
Whether or not the transactions contemplated hereby are consummated, to the extent the Administrative Agent or any other Agent-Related
Person (solely to the extent any such Agent-Related Person was performing services on behalf of the Administrative Agent) is not reimbursed
and indemnified by the Borrower, the Lenders will reimburse and indemnify the Administrative Agent or any other Agent-Related Person
(solely to the extent any such Agent-Related Person was performing services on behalf of the Administrative Agent) in proportion to their
respective Pro Rata Shares for and against any and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments,
costs, expenses or disbursements of whatsoever kind or nature which may be imposed on, asserted against or incurred by the Administrative
Agent or any other Agent-Related Person (solely to the extent any such Agent-Related Person was performing services on behalf of the
Administrative Agent) in performing its duties hereunder or under any other Loan Document or in any way relating to or arising out of
this Agreement or any other Loan Document; 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 the Administrative Agent’s
or any other Agent-Related Person’s gross negligence or willful misconduct (as determined by a court of competent jurisdiction
in a final and non-appealable decision). In the case of any investigation, litigation or proceeding giving rise to any Indemnified Liabilities,
this Section 9.08 applies whether any such investigation, litigation or proceeding is brought by any Lender or any other Person.
Without limitation of the foregoing, each Lender shall reimburse the Administrative Agent upon demand for its ratable share of any costs
or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the preparation, execution,
delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or
legal advice in respect of rights or responsibilities under, this Agreement, any other Loan Document, or any document contemplated by
or referred to herein, to the extent that the Administrative Agent is not reimbursed for such expenses by or on behalf of the Borrower,
provided that such reimbursement by the Lenders shall not affect the Borrower’s continuing reimbursement obligations with
respect thereto, provided further that the failure of any Lender to indemnify or reimburse the Administrative Agent shall not
relieve any other Lender of its obligation in respect thereof. The undertaking in this Section 9.08 shall survive termination of
the Aggregate Commitments, the payment of all other Obligations and the resignation of the Administrative Agent.

 

SECTION 9.09     The
Administrative Agent in Its Individual Capacity. With respect to its obligation to make Loans under this Agreement, the Administrative
Agent shall have the rights and powers specified herein for a “Lender” and may exercise the same rights and powers as though
it were not performing the duties specified herein; and the term “Lender,” “Required Lenders” or any similar
terms shall, unless the context clearly indicates otherwise, include the Administrative Agent in its respective individual capacities.
The Administrative Agent and its affiliates may accept deposits from, lend money to, and generally engage in any kind of banking, investment
banking, trust or other business with, or provide debt financing, equity capital or other services (including financial advisory services)
to any Loan Party or any Affiliate of any Loan Party (or any Person engaged in a similar business with any Loan Party or any Affiliate
thereof) as if they were not performing the duties specified herein, and may accept fees and other consideration from any Loan Party
or any Affiliate of any Loan Party for services in connection with this Agreement and otherwise without having to account for the same
to the Lenders. The Lenders acknowledge that, pursuant to such activities, any Agent or its Affiliates may receive information regarding
any Loan Party or any of its Affiliates (including information that may be subject to confidentiality obligations in favor of such Loan
Party or such Affiliate) and acknowledge that no Agent shall be under any obligation to provide such information to them.

 

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SECTION 9.10     Erroneous
Payments.

  

(a)            If
the Administrative Agent (x) notifies a Lender, Issuing Bank or Secured Party, or any Person who has received funds on behalf
of a Lender, Issuing Bank or Secured Party (any such Lender, Issuing Bank, Secured Party or other recipient (and each of their
respective successors and assigns), a “Payment Recipient”) that the Administrative Agent has determined in its
sole discretion (whether or not after receipt of any notice under immediately succeeding clause (b)) that any funds (as set forth in
such notice from the Administrative Agent) received by such Payment Recipient from the Administrative Agent or any of its Affiliates
were erroneously or mistakenly transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or
not known to such Lender, Issuing Bank, Secured Party or other Payment Recipient on its behalf) (any such funds, whether transmitted
or received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively,
an “Erroneous Payment”) and (y) demands in writing the return of such Erroneous Payment (or a portion thereof),
such Erroneous Payment shall at all times remain the property of the Administrative Agent pending its return or repayment as contemplated
below in this Section 9.10 and held in trust for the benefit of the Administrative Agent, and such Lender, Issuing Bank or
Secured Party shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient
to) promptly, but in no event later than two Business Days thereafter (or such later date as the Administrative Agent may, in its sole
discretion, specify in writing), return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as
to which such a demand was made, in same day funds (in the currency so received), together with interest thereon (except to the extent
waived in writing by the Administrative Agent) in respect of each day from and including the date such Erroneous Payment (or portion
thereof) was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the
greater of the Overnight Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation from time to time in effect. A notice of the Administrative Agent to any Payment Recipient under this clause (a) shall
be conclusive, absent manifest error.

 

(b)            Without
limiting immediately preceding clause (a), each Lender, Issuing Bank, Secured Party or any Person who has received funds on behalf
of a Lender, Issuing Bank or Secured Party (and each of their respective successors and assigns), agrees that if it receives a payment,
prepayment or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise)
from the Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that
specified in this Agreement or in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates)
with respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment
or repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that such Lender, Issuing Bank or Secured
Party, or other such recipient, otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part), then
in each such case:

 

(i)             it
acknowledges and agrees that (A) in the case of immediately preceding clauses (x) or (y), an error and mistake shall be presumed
to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an error and mistake has been
made (in the case of immediately preceding clause (z)), in each case, with respect to such payment, prepayment or repayment; and

 

(ii)            such
Lender, Issuing Bank or Secured Party shall (and shall cause any other recipient that receives funds on its respective behalf to)
promptly (and, in all events, within one Business Day of its knowledge of the occurrence of any of the circumstances described in immediately
preceding clauses (x), (y) and (z)) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the
details thereof (in reasonable detail) and that it is so notifying the Administrative Agent pursuant to this Section 9.10(b).

 

For the avoidance of doubt, the failure to deliver a notice
to the Administrative Agent pursuant to this Section 10(b) shall not have any effect on a Payment Recipient’s obligations
pursuant to Section 9.10(a) or on whether or not an Erroneous Payment has been made

 

(c)            Each
Lender, Issuing Bank or Secured Party hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at
any time owing to such Lender, Issuing Bank or Secured Party under any Loan Document, or otherwise payable or distributable by the
Administrative Agent to such Lender, Issuing Bank or Secured Party under any Loan Document with respect to any payment of principal,
interest, fees or other amounts, against any amount that the Administrative Agent has demanded to be returned under immediately preceding
clause (a).

 

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(d)            (i) In
the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand therefor
in accordance with immediately preceding clause (a), from any Lender that has received such Erroneous Payment (or portion thereof) (and/or
from any Payment Recipient who received such Erroneous Payment (or portion thereof) on its respective behalf) (such unrecovered amount,
an “Erroneous Payment Return Deficiency”), upon the Administrative Agent’s notice to such Lender at any time,
then effective immediately (with the consideration therefor being acknowledged by the parties hereto), (A) such Lender shall be
deemed to have assigned its Loans (but not its Commitments) of the relevant Class with respect to which such Erroneous Payment was
made (the “Erroneous Payment Impacted Class”) in an amount equal to the Erroneous Payment Return Deficiency (or such
lesser amount as the Administrative Agent may specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment Impacted
Class, the “Erroneous Payment Deficiency Assignment”) (on a cashless basis and such amount calculated at par plus
any accrued and unpaid interest), and is hereby (together with the Borrower) deemed to execute and deliver an Assignment and Assumption
(or, to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to a Platform as to which
the Administrative Agent and such parties are participants) with respect to such Erroneous Payment Deficiency Assignment, and such Lender
shall deliver any Notes evidencing such Loans to the Borrower or the Administrative Agent (but the failure of such Person to deliver
any such Notes shall not affect the effectiveness of the foregoing assignment), (B) the Administrative Agent as the assignee Lender
shall be deemed to have acquired the Erroneous Payment Deficiency Assignment, (C) upon such deemed acquisition, the Administrative
Agent as the assignee Lender shall become a Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment
and the assigning Lender shall cease to be a Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment,
excluding, for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and its applicable Commitments
which shall survive as to such assigning Lender, (D) the Administrative Agent and the Borrower shall each be deemed to have waived
any consents required under this Agreement to any such Erroneous Payment Deficiency Assignment, and (E) the Administrative Agent
will reflect in the Register its ownership interest in the Loans subject to the Erroneous Payment Deficiency Assignment. For the avoidance
of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Lender and such Commitments shall remain available
in accordance with the terms of this Agreement.

 

(ii)            Subject
to Section 10.07 (but excluding, in all events, any assignment consent or approval requirements (whether from the Borrower or otherwise)),
the Administrative Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment and upon
receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender shall be reduced by the
net proceeds of the sale of such Loan (or portion thereof), and the Administrative Agent shall retain all other rights, remedies and
claims against such Lender (and/or against any recipient that receives funds on its respective behalf). In addition, an Erroneous Payment
Return Deficiency owing by the applicable Lender (x) shall be reduced by the proceeds of prepayments or repayments of principal
and interest, or other distribution in respect of principal and interest, received by the Administrative Agent on or with respect to
any such Loans acquired from such Lender pursuant to an Erroneous Payment Deficiency Assignment (to the extent that any such Loans are
then owned by the Administrative Agent) and (y) may, in the sole discretion of the Administrative Agent, be reduced by any amount
specified by the Administrative Agent in writing to the applicable Lender from time to time.

 

(e)            The
parties hereto agree that (x) irrespective of whether the Administrative Agent may be equitably subrogated, in the event that an
Erroneous Payment (or portion thereof) is not recovered from any Payment Recipient that has received such Erroneous Payment (or portion
thereof) for any reason, the Administrative Agent shall be subrogated to all the rights and interests of such Payment Recipient (and,
in the case of any Payment Recipient who has received funds on behalf of a Lender, Issuing Bank or Secured Party, to the rights
and interests of such Lender, Issuing Bank or Secured Party, as the case may be) under the Loan Documents with respect to such amount
(the “Erroneous Payment Subrogation Rights”) (provided that the Loan Parties’ Obligations under the Loan
Documents in respect of the Erroneous Payment Subrogation Rights shall not be duplicative of such Obligations in respect of Loans that
have been assigned to the Administrative Agent under an Erroneous Payment Deficiency Assignment) and (y) an Erroneous Payment shall
not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the Borrower or any other Loan Party; provided that
this Section 9.10 shall not be interpreted to increase (or accelerate the due date for), or have the effect of increasing (or accelerating
the due date for), the Obligations of the Borrower relative to the amount (and/or timing for payment) of the Obligations that would have
been payable had such Erroneous Payment not been made by the Administrative Agent; provided, further, that for the avoidance
of doubt, immediately preceding clauses (x) and (y) shall not apply to the extent any such Erroneous Payment is, and solely
with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent from the Borrower
for the purpose of making such Erroneous Payment.

 

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(f)            To
the extent permitted by applicable law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives,
and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim
by the Administrative Agent for the return of any Erroneous Payment received, including, without limitation, any defense based on “discharge
for value” or any similar doctrine.

 

(g)            Each
party’s obligations, agreements and waivers under this Section 9.10 shall survive the resignation or replacement of the Administrative
Agent, any transfer of rights or obligations by, or the replacement of, a Lender or Issuing Bank, the termination of the Commitments
and/or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.

 

SECTION 9.11     Resignation
by the Administrative Agent. The Administrative Agent may resign from the performance of all its respective functions and duties
hereunder or under the other Loan Documents at any time by giving 30 Business Days prior written notice to the Lenders and the Borrower.
If the Administrative Agent becomes subject to a Lender-Related Distress Event, then the Administrative Agent may be removed as the Administrative
Agent at the reasonable request of the Required Lenders. If the Administrative Agent becomes subject to an Agent-Related Distress Event,
then the Borrower may remove the Administrative Agent from such role upon 15 days’ prior written notice to the Lenders. Such resignation
or removal shall take effect upon the appointment of a successor Administrative Agent as provided below.

 

Notwithstanding anything to the contrary in this
Agreement, no successor Administrative Agent shall be appointed unless such successor Administrative Agent represents and warrants that
it is (i) a “U.S. person” and a “financial institution” and that it will comply with its “obligation
to withhold,” each within the meaning of U.S. Treasury Regulations Section 1.1441-1, or (ii) a Withholding U.S. Branch.

 

Upon any such notice of resignation by, or notice
of removal of, the Administrative Agent, the Required Lenders shall appoint a successor Administrative Agent hereunder or thereunder
who shall be a commercial bank or trust company reasonably acceptable to the Borrower, which acceptance shall not be unreasonably withheld
or delayed (provided that the Borrower’s approval shall not be required if an Event of Default under Section 8.01(1) or
Section 8.01(6) has occurred and is continuing).

 

If a successor Administrative Agent shall not have
been so appointed within such 30 Business Day period, the Administrative Agent, with the consent of the Borrower (which consent shall
not be unreasonably withheld or delayed, provided that the Borrower’s consent shall not be required if an Event of Default
under Section 8.01(1) or Section 8.01(6) has occurred and is continuing), shall then appoint a successor Administrative
Agent who shall serve as Administrative Agent hereunder or thereunder until such time, if any, as the Required Lenders appoint a successor
Administrative Agent as provided above.

 

If no successor Administrative Agent has been appointed
pursuant to the foregoing by the 35th Business Day after the date such notice of resignation was given by the Administrative Agent or
such notice of removal was given by the Required Lenders or the Borrower, as applicable, the Administrative Agent’s resignation
shall nonetheless become effective and the Required Lenders shall thereafter perform all the duties of the Administrative Agent hereunder
or under any other Loan Document until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided
above. The retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents
(except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the Issuing Banks under
any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor
Administrative Agent is appointed) and except for any indemnity payments or other amounts then owed to the retiring or removed Administrative
Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be
made by or to each Lender or Issuing Bank directly, until such time as the Required Lenders appoint a successor Administrative Agent
as provided for above in this Section 9.11.

 

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Upon the acceptance of a successor’s appointment
as Administrative Agent hereunder and upon the execution and filing or recording of such financing statements, or amendments thereto,
and such amendments or supplements to the Mortgages, and such other instruments or notices, as may be necessary or desirable, or as the
Required Lenders may request, in order to (i) continue the perfection of the Liens granted or purported to be granted by the Collateral
Documents or (ii) otherwise ensure that the Collateral and Guarantee Requirement is satisfied, such successor shall succeed to and
become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring
Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already
discharged therefrom as provided above in this Section 9.11).

 

The fees payable by the Borrower to a successor Administrative
Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the
retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and
Sections 10.04 and 10.05 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective
Agent-Related Persons in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was
acting as Administrative Agent.

 

Upon a resignation or removal of the Administrative
Agent pursuant to this Section 9.11, the Administrative Agent (i) shall continue to be subject to Section 10.09 and (ii) shall
remain indemnified to the extent provided in this Agreement and the other Loan Documents and the provisions of this Article IX (and
the analogous provisions of the other Loan Documents) shall continue in effect for the benefit of the Administrative Agent for all of
its actions and inactions while serving as the Administrative Agent.

 

SECTION 9.12     Collateral
Matters. Each Lender (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) irrevocably authorizes
and directs the Administrative Agent and the Collateral Agent to take the actions to be taken by them as set forth in Sections 7.04 and
10.24.

 

Each Lender hereby agrees, and each holder of any
Note by the acceptance thereof will be deemed to agree, that, except as otherwise set forth herein, any action taken by the Required Lenders
or the Required Facility Lenders, as applicable, in accordance with the provisions of this Agreement or the Collateral Documents, and
the exercise by the Required Lenders or the Required Facility Lenders, as applicable, of the powers set forth herein or therein, together
with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of the Lenders. The Collateral Agent
is hereby authorized on behalf of all of the Lenders, without the necessity of any notice to or further consent from any Lender, from
time to time, to take any action with respect to any Collateral or Collateral Documents which may be necessary to perfect and maintain
perfected the security interest in and liens upon the Collateral granted pursuant to the Collateral Documents.

 

Upon request by the Administrative Agent at any time,
the Lenders will confirm in writing the Collateral Agent’s authority to release particular types or items of Collateral pursuant
to this Section 9.12. In each case as specified in this Section 9.12, Section 7.04, Section 10.01 and Section 10.24,
the applicable Agent will (and each Lender irrevocably authorizes the applicable Agent to), at the Borrower’s expense, execute and
deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release or subordination
of such item of Collateral from the assignment and security interest granted under the Collateral Documents, or to evidence the release
of such Guarantor from its obligations under the Guaranty, in each case in accordance with the terms of the Loan Documents, this Section 9.12,
Section 7.04, Section 10.01 and Section 10.24.

 

The Collateral Agent shall have no obligation whatsoever
to the Lenders or to any other Person to assure that the Collateral exists or is owned by any Loan Party or is cared for, protected or
insured or that the Liens granted to the Collateral Agent herein or pursuant hereto have been properly or sufficiently or lawfully created,
perfected, protected or enforced or are entitled to any particular priority, or to exercise or to continue exercising at all or in any
manner or under any duty of care, disclosure or fidelity any of the rights, authorities and powers granted or available to the Collateral
Agent in this Section 9.12, Section 7.04, Section 10.24 or in any of the Collateral Documents, it being understood and
agreed that in respect of the Collateral, or any act, omission or event related thereto, the Collateral Agent may act in any manner it
may deem appropriate, in its sole discretion, given the Collateral Agent’s own interest in the Collateral as one of the Lenders
and that the Collateral Agent shall have no duty or liability whatsoever to the Lenders, except for its gross negligence or willful misconduct
(as determined by a court of competent jurisdiction in a final and non-appealable decision).

 

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SECTION 9.13     [Reserved].

 

SECTION 9.14     Administrative
Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding
relative to any Loan 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, by intervention in such proceeding or otherwise:

 

(a)           to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations and
all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the
claims of the Lenders, any Issuing Bank and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements
and advances of the Lenders, any Issuing Bank and the Administrative Agent and their respective agents and counsel and all other amounts
due the Lenders, any Issuing Bank and the Administrative Agent under Sections 2.09 and 10.04) allowed in such judicial proceeding; and

 

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

 

and any custodian, receiver, assignee, trustee, liquidator, sequestrator
or other similar official in any such judicial proceeding is hereby authorized by each Lender and Issuing Bank to make such payments to
the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the
Lenders and relevant Issuing Banks, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements
and advances of the Agents and their respective agents and counsel, and any other amounts due the Administrative Agent under Sections
2.09 and 10.04.

 

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

 

The Secured Parties hereby irrevocably authorize
the Administrative Agent, at the direction of the Required Lenders, to credit bid all or any portion of the Obligations (including accepting
some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise)
and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a) at
any sale thereof conducted under the provisions of the Bankruptcy Code, including under Sections 363, 1123 or 1129 of the Bankruptcy Code,
or any similar Laws in any other jurisdictions to which a Loan Party is subject, (b) at any other sale or foreclosure or acceptance
of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial
action or otherwise) in accordance with any applicable Law. In connection with any such credit bid and purchase, the Obligations owed
to the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent
or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest upon the liquidation of
such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests)
in the asset or assets so purchased (or in the Equity Interests or debt instruments of the acquisition vehicle or vehicles that are used
to consummate such purchase). In connection with any such bid (i) the Administrative Agent shall be authorized to form one or more
acquisition vehicles to make a bid, (ii) to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided
that any actions by the Administrative 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 Required Lenders, irrespective of the termination
of this Agreement and without giving effect to the limitations on actions by the Required Lenders contained in clauses (a) through
(i) of the first proviso to Section 10.01(1) of this Agreement), (iii) the Administrative Agent shall be authorized
to assign the relevant Obligations to any such acquisition vehicle pro rata by 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 (iv) 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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SECTION 9.15     Appointment
of Supplemental Administrative Agents.

 

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

 

(2)           In
the event that the Administrative Agent appoints a Supplemental Administrative Agent with respect to any Collateral, (i) each and
every right, power, privilege or duty expressed or intended by this Agreement or any of the other Loan Documents to be exercised by or
vested in or conveyed to the Administrative Agent with respect to such Collateral shall be exercisable by and vest in such Supplemental
Administrative Agent to the extent, and only to the extent, necessary to enable such Supplemental Administrative Agent to exercise such
rights, powers and privileges with respect to such Collateral and to perform such duties with respect to such Collateral, and every covenant
and obligation contained in the Loan Documents and necessary to the exercise or performance thereof by such Supplemental Administrative
Agent shall run to and be enforceable by either the Administrative Agent or such Supplemental Administrative Agent, and (ii) the
provisions of this Article IX and of Sections 10.04 and 10.05 that refer to the Administrative Agent shall inure to the benefit of
such Supplemental Administrative Agent and all references therein to the Administrative Agent shall be deemed to be references to the
Administrative Agent or such Supplemental Administrative Agent, as the context may require.

 

(3)           Should
any instrument in writing from any Loan Party be reasonably required by any Supplemental Administrative Agent so appointed by the Administrative
Agent for more fully and certainly vesting in and confirming to him or it such rights, powers, privileges and duties, the Borrower shall,
or shall cause such Loan Party to, execute, acknowledge and deliver any and all such instruments reasonably acceptable to it promptly
upon request by the Administrative Agent. In case any Supplemental Administrative Agent, or a successor thereto, shall die, become incapable
of acting, resign or be removed, all the rights, powers, privileges and duties of such Supplemental Administrative Agent, to the extent
permitted by Law, shall vest in and be exercised by the Administrative Agent until the appointment of a new Supplemental Administrative
Agent.

 

SECTION 9.16     Intercreditor
Agreements. The Administrative Agent and Collateral Agent are hereby authorized to enter into any Intercreditor Agreement to the extent
contemplated by the terms hereof, and the parties hereto acknowledge that such Intercreditor Agreement is binding upon them. Each Secured
Party (a) hereby agrees that it will be bound by and will take no actions contrary to the provisions of the Intercreditor Agreements,
(b) hereby authorizes and instructs the Administrative Agent and Collateral Agent to enter into the Intercreditor Agreements and
to subject the Liens on the Collateral securing the Obligations to the provisions thereof and (c) without any further consent of
the Lenders, hereby authorizes and instructs the Administrative Agent and the Collateral Agent to negotiate, execute and deliver on behalf
of the Secured Parties any intercreditor agreement or any amendment (or amendment and restatement) to the Collateral Documents or any
Intercreditor Agreement contemplated hereunder. In addition, each Secured Party hereby authorizes the Administrative Agent and the Collateral
Agent to enter into (i) any amendments to any Intercreditor Agreements, and (ii) any other intercreditor arrangements, in the
case of clauses (i) and (ii) to the extent required to give effect to the establishment of intercreditor rights and privileges
as contemplated and required or permitted by this Agreement. Each Secured Party acknowledges and agrees that any of the Administrative
Agent and Collateral Agent (or one or more of their respective Affiliates) may (but are not obligated to) act as the “Debt Representative”
or like term for the holders of Credit Agreement Refinancing Indebtedness under the security agreements with respect thereto or any Intercreditor
Agreement then in effect. Each Lender waives any conflict of interest, now contemplated or arising hereafter, in connection therewith
and agrees not to assert against any Agent or any of its affiliates any claims, causes of action, damages or liabilities of whatever kind
or nature relating thereto.

 

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SECTION 9.17     Secured
Cash Management Agreements and Secured Hedge Agreements. Except as otherwise expressly set forth herein or in any Guaranty or any
Collateral Document, no Cash Management Bank or Hedge Bank that obtains the benefits of Section 8.03, any Guaranty or any Collateral
by virtue of the provisions hereof or of any Guaranty or any Collateral Document shall have any right to notice of any action or to consent
to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the
release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly provided
in the Loan Documents. Notwithstanding any other provision of this Article IX to the contrary, the Administrative Agent shall not
be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under
Secured Cash Management Agreements and Secured Hedge Agreements unless the Administrative Agent has received written notice of such Obligations,
together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge
Bank, as the case may be.

 

SECTION 9.18     Withholding
Tax. To the extent required by any applicable Laws, the Administrative Agent may withhold from any payment to any Lender an amount
equivalent to any applicable withholding Tax. Without limiting or expanding the provisions of Section 3.01, each Lender shall indemnify
and hold harmless the Administrative Agent against, and shall make payable in respect thereof within ten (10) days after demand therefor,
any and all Taxes and any and all related losses, claims, liabilities and expenses (including fees, charges and disbursements of any counsel
for the Administrative Agent) incurred by or asserted against the Administrative Agent by the IRS or any other Governmental Authority
as a result of the failure of the Administrative Agent to properly withhold Tax from amounts paid to or for the account of such Lender
for any reason (including because the appropriate form was not delivered or not properly executed, or because such Lender failed to notify
the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of withholding Tax ineffective). 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 this Agreement or any other Loan Document against any amount due the Administrative Agent under this Section 9.18. The
agreements in this Section 9.18 shall survive the resignation or replacement of the Administrative Agent, any assignment of rights
by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations.

 

SECTION 9.19     Certain
ERISA Matters.

 

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

 

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

 

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

 

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

 

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

 

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

 

Article X

 

Miscellaneous

 

SECTION 10.01     Amendments, etc.

 

(1)           Except
as otherwise set forth in this Agreement, no amendment or waiver of any provision of this Agreement or any other Loan Document, and no
consent to any departure by the Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by the Required
Lenders (other than (x) with respect to any amendment or waiver contemplated in clauses (g), (h) or (i) below
(in the case of clause (i), to the extent permitted by Section 2.14), which shall only require the consent of the Required
Facility Lenders under the applicable Facility or Facilities, as applicable (and not the Required Lenders), (y) with respect to any
amendment or waiver contemplated in clauses (b) or (c), which shall only require the consent of the Lenders expressly
set forth therein and not the Required Lenders, and (z) with respect to any amendment or waiver contemplated in clause (k),
which shall require consent of the Required Facility Lenders under each of the applicable Facilities) (or by the Administrative Agent
with the consent of the Required Lenders) and the Borrower or the applicable Loan Party, as the case may be, and acknowledged by the Administrative
Agent, and the Administrative Agent hereby agrees to acknowledge any such waiver, consent or amendment that otherwise satisfies the requirements
of this Section 10.01 as promptly as possible, however, to the extent the final form of such waiver, consent or amendment has been
delivered to the Administrative Agent at least one Business Day prior to the proposed effectiveness of the consents by the Lenders party
thereto, the Administrative Agent shall acknowledge such waiver, consent or amendment (i) immediately, in the case of any amendment
which does not require the consent of any existing Lender under this Agreement or (ii) otherwise, within two hours of the time copies
of the Required Lender consents or other applicable Lender consents required by this Section 10.01 have been provided to the Administrative
Agent; and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given;
provided that no such amendment, waiver or consent shall:

 

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(a)           extend
or increase the Commitment of any Lender without the written consent of such Lender (it being understood that a waiver of any condition
precedent set forth in Section 4.01 or 4.02 or the waiver of any Default, Event of Default, mandatory prepayment or mandatory reduction
of the Commitments shall not constitute an extension or increase of any Commitment of any Lender);

 

(b)           postpone
any date scheduled for, or reduce the amount of, any payment of principal or interest under Section 2.07 or 2.08 (other than pursuant
to Section 2.08(2)) or any payment of fees or premiums hereunder or under any Loan Document with respect to payments to any Lender
without the written consent of such Lender, it being understood that none of the following will constitute a postponement of any date
scheduled for, or a reduction in the amount of, any payment of principal, interest, fees or premiums: (i) the waiver of (or amendment
to the terms of) any mandatory prepayment of the Loans, (ii) the waiver of any Default or Event of Default, and (iii) any change
to the definition of “Secured Net Leverage Ratio,” “Total Net Leverage Ratio,” “Fixed Charge Coverage Ratio”
or, in each case, in the component definitions thereof;

 

(c)           reduce
the principal of, or the rate of interest specified herein on, any Loan or Unreimbursed Amount, or any fees or other amounts payable hereunder
or under any other Loan Document to any Lender without the written consent of such Lender, it being understood that none of the following
will constitute a reduction in any rate of interest or any fees: any change to the definition of “Secured Net Leverage Ratio,”
 “Total Net Leverage Ratio,” “Fixed Charge Coverage Ratio,” or, in each case, in the component definitions thereof;
provided that only the consent of (A) the Required Lenders shall be necessary to amend the definition of “Default Rate”
and (B) the Required Lenders or, with respect to any Default Rate payable in respect of the Revolving Facility, the Required Facility
Lenders under the Revolving Facility, shall be necessary to waive any obligation of the Borrower to pay interest at the Default Rate;

 

(d)           except
as contemplated by clause (C) in the second proviso immediately succeeding clause (i) of this Section 10.01(1),
change (i) any provision of this Section 10.01 or the definition of “Required Lenders” or “Required Facility
Lenders,” “Pro Rata Share” or any other provision specifying the number of Lenders or portion of the Loans or Commitments
required to take any action under the Loan Documents, (ii) the pro rata payments and pro rata sharing provisions of Section 2.12,
or (iii) Section 2.13, Section 8.03 or Section 10.10, without the written consent of each Lender directly and adversely
affected thereby;

 

(e)           other
than in a transaction permitted under Section 7.03 or Section 7.04, release all or substantially all of the aggregate value
of the Collateral in any transaction or series of related transactions, without the written consent of each Lender;

 

(f)           other
than in a transaction permitted under Section 7.03 or Section 7.04, release all or substantially all of the aggregate value
of the Guaranty, without the written consent of each Lender;

 

(g)           amend,
waive or otherwise modify any term or provision (including the waiver of any conditions set forth in Section 4.02 as to any Credit
Extension under one or more Revolving Facilities) which directly affects Lenders under one or more Revolving Facilities and does not directly
affect Lenders under any other Facilities, in each case, without the written consent of the Required Facility Lenders under such applicable
Revolving Facility or Facilities with respect to Revolving Commitments (and in the case of multiple Facilities which are affected, such
Required Facility Lenders shall consent together as one Facility); provided, however, that the waivers described in this
clause (g) shall not require the consent of any Lenders other than the Required Facility Lenders under the applicable Revolving
Facility or Facilities (it being understood that any amendment to the conditions of effectiveness of Incremental Commitments set forth
in Section 2.14 shall be subject to clause (i) below);

 

(h)           amend,
waive or otherwise modify the Financial Covenant or any definition related thereto (solely in respect of the use of such defined terms
in the Financial Covenant) or waive any Default or Event of Default resulting from a failure to perform or observe the Financial Covenant
(including any waiver of a Default or Event of Default solely with respect to the Revolving Facilities pursuant to Section 6.01(1))
without the written consent of the Required Facility Lenders under the applicable Revolving Facility or Facilities with respect to Revolving
Commitments (such Required Facility Lenders shall consent together as one Facility); provided, however, that the amendments,
waivers and other modifications described in this clause (h) shall not require the consent of any Lenders other than the Required
Facility Lenders under the applicable Revolving Facility or Facilities;

 

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(i)           amend,
waive or otherwise modify any term or provision (including the availability and conditions to funding (subject to the requirements of
Section 2.14) with respect to Incremental Term Loans and Incremental Revolving Commitments, but excluding the rate of interest applicable
thereto which shall be subject to clause (c) above)) which directly affects Lenders of one or more Incremental Term Loans or Incremental
Revolving Commitments and does not directly affect Lenders under any other Facility, in each case, without the written consent of the
Required Facility Lenders under such applicable Incremental Term Loans or Incremental Revolving Commitments (and in the case of multiple
Facilities which are affected, such Required Facility Lenders shall consent together as one Facility); provided, however,
that, to the extent permitted under Section 2.14, the waivers described in this clause (i) shall only require the consent
of the Required Facility Lenders under such applicable Incremental Term Loans or Incremental Revolving Commitments;

 

(j)           amend,
waive or otherwise modify any term or provision of the Loan Documents that would subordinate of the liens on all or substantially all
of the Collateral securing the Obligations to the liens securing any other Indebtedness and/or subordinate the Obligations in right of
payment to any other Indebtedness except in the case of (x) any Indebtedness that is permitted by this Agreement as in effect on
the Closing Date to rank senior to the Obligations, (y) any “debtor in-possession” facility (or similar facility under
applicable law) or (z) any other Indebtedness (including to the extent exchanged for, or utilized to refinance, the Term Loans) so
long as each Lender was offered the opportunity to participate in such Indebtedness on a ratable basis on the same terms and conditions
(including receipt of fees to the extent payable to all Lenders participating in such Indebtedness (and for the avoidance of doubt, excluding
any backstop fees));

 

(k)           amend,
waive or otherwise modify the definition of “Permitted Revolver Change of Control”, “Permitted Revolver Change of Control
Effective Date”, “Permitted Buyer”, “Qualified Buyer”, “Financial Buyer” or “Rating Event”
or waive any Default or Event of Default resulting from the occurrence of a Permitted Revolver Change of Control or the failure to perform
or observe the requirement of a Permitted Revolver Change of Control without the written consent of the Required Facility Lenders under
the applicable Revolving Facility or Facilities with respect to the Revolving Commitments (such Required Facility Lenders shall consent
together as on Facility);

 

provided
that:

 

(I)           no
amendment, waiver or consent shall, unless in writing and signed by each Issuing Bank in addition to the Lenders required above, affect
the rights or duties of such Issuing Bank under this Agreement or any Issuing Bank Document relating to any Letter of Credit issued or
to be issued by it; provided, however, that this Agreement may be amended to adjust the mechanics related to the issuance
of Letters of Credit, including mechanical changes relating to the existence of multiple Issuing Banks, with only the written consent
of the Administrative Agent, the applicable Issuing Bank and the Borrower so long as the obligations of the Revolving Lenders, if any,
who have not executed such amendment, and if applicable the other Issuing Banks, if any, who have not executed such amendment, are not
adversely affected thereby;

 

(II)           no
amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above,
affect the rights or duties of, or any fees or other amounts payable to, the Administrative Agent under this Agreement or any other Loan
Document; and

 

(III)           Section 10.07(g) may
not be amended, waived or otherwise modified without the consent of each Granting Lender all or any part of whose Loans are being funded
by an SPC at the time of such amendment, waiver or other modification;

 

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provided
further that notwithstanding the foregoing:

 

(A)           no
Defaulting Lender shall have any right to approve or disapprove of any amendment, waiver or consent hereunder (and any amendment, waiver
or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable
Lenders other than Defaulting Lenders), except that the Commitment of such Defaulting Lender may not be increased or extended without
the consent of such Defaulting Lender (it being understood that any Commitments or Loans held or deemed held by any Defaulting Lender
shall be excluded for a vote of the Lenders hereunder requiring any consent of the Lenders);

 

(B)           no
Lender consent is required to effect any amendment or supplement to any Intercreditor Agreement (i) that is for the purpose of adding
the holders of Permitted Incremental Equivalent Debt, Credit Agreement Refinancing Indebtedness or any other Permitted Indebtedness that
is Secured Indebtedness (or a Debt Representative with respect thereto) as parties thereto, as expressly contemplated by the terms of
such Intercreditor Agreement, as applicable (it being understood that any such amendment, modification or supplement may make such other
changes to the applicable Intercreditor Agreement as, in the good faith determination of the Administrative Agent, are required to effectuate
the foregoing and provided that such other changes are not adverse, in any material respect, to the interests of the Lenders) or
(ii) that is expressly contemplated by any Intercreditor Agreement in connection with joinders and supplements; provided further
that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent or the Collateral
Agent hereunder or under any other Loan Document without the prior written consent of the Administrative Agent or the Collateral Agent,
as applicable;

 

(C)           this
Agreement may be amended (or amended and restated) with the written consent of the Required Lenders, the Administrative Agent and the
Borrower (i) to add one or more additional credit facilities to this Agreement and to permit the extensions of credit from time to
time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the benefits of this Agreement and
the other Loan Documents with the Term Loans, the Revolving Loans and L/C Obligations and the accrued interest and fees in respect thereof
and (ii) to include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders;

 

(D)           any
waiver, amendment or modification of this Agreement that by its terms affects the rights or duties under this Agreement of Lenders holding
Loans or Commitments of a particular Class (but not the Lenders holding Loans or Commitments of any other Class) may be effected
by an agreement or agreements in writing entered into by the Borrower and the requisite percentage in interest of the affected Class of
Lenders that would be required to consent thereto under this Section 10.01 if such Class of Lenders were the only Class of
Lenders hereunder at the time;

 

(E)           any
provision of this Agreement or any other Loan Document may be amended by an agreement in writing entered into by the Borrower and the
Administrative Agent (or the Collateral Agent, as applicable) to cure any ambiguity, omission, defect or inconsistency (including amendments,
supplements or waivers to any of the Collateral Documents, guarantees, intercreditor agreements or related documents executed by any Loan
Party or any other Subsidiary in connection with this Agreement if such amendment, supplement or waiver is delivered in order to cause
such Collateral Documents, guarantees, intercreditor agreements or related documents to be consistent with this Agreement and the other
Loan Documents) so long as, in each case, the Lenders shall have received at least five (5) Business Days’ prior written notice
thereof and the Administrative Agent shall not have received, within five (5) Business Days of the date of such notice to the Lenders,
a written notice from the Required Lenders stating that the Required Lenders object to such amendment; provided that the consent
of the Lenders or the Required Lenders, as the case may be, shall not be required to make any such changes necessary to be made in connection
with any borrowing of Incremental Loans, any borrowing of Other Loans, any Extension or any borrowing of Replacement Loans and otherwise
to effect the provisions of Section 2.14, 2.15 or 2.16 or the immediately succeeding paragraph of this Section 10.01, respectively;
and

 

(F)           the
Borrower and the Administrative Agent may, without the input or consent of the other Lenders, (i) effect changes to any Mortgage
as may be necessary or appropriate in the opinion of the Collateral Agent and (ii) effect changes to this Agreement that are necessary
and appropriate to effect the offering process set forth in Section 2.05(1)(e).

 

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(2)           In
addition, notwithstanding anything to the contrary contained in this Section 10.01, this Agreement may be amended with the written
consent of the Administrative Agent, the Borrower and the Lenders providing the Replacement Loans (as defined below) to permit the refinancing
of all outstanding Term Loans of any Class (“Replaced Loans”) with replacement term loans (“Replacement
Loans”) hereunder; provided that

  

(a)           the
aggregate principal amount of such Replacement Loans shall not exceed the aggregate principal amount of such Replaced Loans, plus
accrued interest, fees, premiums (if any) and penalties thereon and reasonable fees and expenses incurred in connection with such refinancing
of Replaced Loans with such Replacement Loans,

 

(b)           the
All-In Yield with respect to such Replacement Loans (or similar interest rate spread applicable to such Replacement Loans) shall not be
higher than the All-In Yield for such Replaced Loans (or similar interest rate spread applicable to such Replaced Loans) immediately prior
to such refinancing,

 

(c)           the
Weighted Average Life to Maturity of such Replacement Loans shall not be shorter than the Weighted Average Life to Maturity of such Replaced
Loans at the time of such refinancing, and

 

(d)           all
other terms (other than with respect to pricing, interest rate margins, fees, discounts, rate floors and prepayment or redemption terms)
applicable to such Replacement Loans shall either, at the option of the Borrower, (i) reflect market terms and conditions (taken
as a whole) at the time of incurrence of such Replacement Loans (as determined by the Borrower in good faith), (ii) if not otherwise
consistent with the terms of such Replaced Loans, not be materially more restrictive to the Borrower (as determined by the Borrower in
good faith), when taken as a whole, than the terms of such Replaced Loans, except to the extent necessary to provide for (x) covenants
and other terms applicable to any period after the Latest Maturity Date of the Loans in effect immediately prior to such refinancing or
(y) subject to the immediately succeeding proviso, a Previously Absent Financial Maintenance Covenant; provided that, notwithstanding
anything to the contrary contained herein, if any such terms of the Replacement Loans contain a Previously Absent Financial Maintenance
Covenant that is in effect prior to the applicable Latest Maturity Date, such Previously Absent Financial Maintenance Covenant shall be
included for the benefit of each Facility, or (iii) if neither clause (i) or (ii) are satisfied, such terms, provisions
and documentation shall be otherwise reasonably satisfactory to the Administrative Agent.

 

Each amendment to this Agreement providing for Replacement
Loans may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary
or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower to effect the provisions of this paragraph, and
for the avoidance of doubt, this paragraph shall supersede any other provisions in this Section 10.01 to the contrary.

 

(3)           In
addition, notwithstanding anything to the contrary in this Section 10.01,

 

(a)           the
Guaranty, the Collateral Documents and related documents executed by Loan Parties in connection with this Agreement and the other Loan
Documents may be in a form reasonably determined by the Administrative Agent and may be, together with this Agreement, amended and waived
with the consent of the Administrative Agent at the request of the Borrower without the need to obtain the consent of any other Lender
if such amendment or waiver is delivered in order (i) to comply with local Law or advice of local counsel, (ii) to cure ambiguities
or defects or (iii) to cause the Guaranty, Collateral Documents or other document to be consistent with this Agreement and the other
Loan Documents (including by adding additional parties as contemplated herein or therein) and

 

(b)           if
the Administrative Agent and the Borrower shall have jointly identified an obvious error (including an incorrect cross-reference) or any
error or omission of a technical or immaterial nature, in each case, in any provision of this Agreement or any other Loan Document (including,
for the avoidance of doubt, any exhibit, schedule or other attachment to any Loan Document), then the Administrative Agent (acting in
its sole discretion) and the Borrower or any other relevant Loan Party shall be permitted to amend such provision and such amendment shall
become effective without any further action or consent of any other party to any Loan Document. Notification of such amendment shall be
made by the Administrative Agent to the Lenders promptly upon such amendment becoming effective.

 

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SECTION 10.02     Notices
and Other Communications; Facsimile Copies.

 

(1)           General.
Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in subsection
(b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight
courier service, mailed by certified or registered mail or sent by facsimile as follows, and all notices and other communications expressly
permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows:

 

(a)           if
to Holdings, the Borrower or the Administrative Agent, to the address, facsimile number, electronic mail address or telephone number specified
for such Person on Schedule 10.02; and

 

(b)           if
to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire.

 

Notices and other communications sent by hand or
overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other
communications sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours
for the recipient, shall be deemed to have been given at the opening of business on the next succeeding Business Day for the recipient).
Notices and other communications delivered through electronic communications to the extent provided in subsection (2) below shall
be effective as provided in such subsection (2).

 

(2)           Electronic
Communication. Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communication
(including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that
the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender, as applicable, has notified the Administrative
Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower
may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures
approved by it, provided that approval of such procedures may be limited to particular notices or communications.

 

(3)           Unless
the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received
upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is
not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening
of business on the next succeeding Business Day for the recipient, and (ii) notices or communications posted to an Internet or intranet
website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing
clause (i) of notification that such notice or communication is available and identifying the website address therefor.

 

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

 

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

 

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

 

SECTION 10.03     No
Waiver; Cumulative Remedies. No failure by any Lender or the Administrative Agent to exercise, and no delay by any such Person in
exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall
any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the
exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under
each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by Law.

 

Notwithstanding anything to the contrary contained
herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against
the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement
shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all
the Lenders; provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising
on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under
the other Loan Documents, (b) any Issuing Bank from exercising the rights and remedies that inure to its benefit (solely in its capacity
as Issuing Bank, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in
accordance with Section 10.10 (subject to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or
appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief
Law; and provided further that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan
Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02
and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.13,
any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required
Lenders.

 

SECTION 10.04     Costs
and Expenses. The Borrower agrees (a) if the Closing Date occurs and to the extent not paid or reimbursed on or prior to the
Closing Date, to pay or reimburse the Administrative Agent and Morgan Stanley Senior Funding, Inc. (in its capacity as an Arranger)
for all reasonable and documented out-of-pocket costs and expenses of the Administrative Agent and such Arranger incurred in connection
with the preparation, negotiation, syndication, execution, delivery and administration of this Agreement and the other Loan Documents
and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not the transactions contemplated
thereby are consummated), and the consummation and administration of the transactions contemplated hereby and thereby, including all Attorney
Costs of a single primary counsel and a single local counsel in each appropriate jurisdiction, and (b) upon presentation of a summary
statement, together with any supporting documentation reasonably requested by the Borrower, to pay or reimburse the Administrative Agent,
each Issuing Bank and the other Lenders, taken as a whole, promptly following a written demand therefor for all reasonable and documented
out-of-pocket costs and expenses incurred in connection with the enforcement of any rights or remedies under this Agreement or the other
Loan Documents (including all such costs and expenses incurred during any legal proceeding, including any proceeding under any Debtor
Relief Law, and including all Attorney Costs of one primary counsel to the Administrative Agent and the Lenders taken as a whole (and
one local counsel in any appropriate jurisdiction and, solely in the case of an actual or perceived conflict of interest, where such affected
persons inform the Borrower of such conflict and thereafter retain their own counsel, one additional primary counsel and one additional
local counsel in each appropriate jurisdiction to each group of affected Lenders similarly situated taken as a whole)). The agreements
in this Section 10.04 shall survive the termination of the Aggregate Commitments and repayment of all other Obligations. All amounts
due under this Section 10.04 shall be paid within thirty (30) Business Days following receipt by the Borrower of an invoice relating
thereto setting forth such expenses in reasonable detail. If any Loan Party fails to pay when due any costs, expenses or other amounts
payable by it hereunder or under any Loan Document, such amount may be paid on behalf of such Loan Party by the Administrative Agent in
its sole discretion.

 

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SECTION 10.05     Indemnification
by the Borrower. The Borrower shall indemnify and hold harmless the Agents, each Issuing Bank, each other Lender, the Arrangers and
their respective Related Persons (collectively, the “Indemnitees”) from and against any and all losses, claims, damages,
liabilities or expenses (including Attorney Costs and Environmental Liabilities) to which any such Indemnitee may become subject arising
out of, resulting from or in connection with (but limited, in the case of legal fees and expenses, to the reasonable and documented out-of-pocket
fees, disbursements and other charges of one primary counsel to all Indemnitees taken as a whole and a single local counsel for all Indemnitees
taken as a whole in each appropriate jurisdiction, and solely in the case of an actual or perceived conflict of interest, where such affected
persons inform the Borrower of such conflict and thereafter retain their own counsel, one additional primary counsel and one additional
counsel in each appropriate jurisdiction to each group of affected Indemnitees similarly situated taken as a whole) any actual or threatened
claim, litigation, investigation or proceeding relating to the Transactions or to the execution, delivery, enforcement, performance and
administration of this Agreement, the other Loan Documents, the Loans, the Letters of Credit or the use, or proposed use of the proceeds
therefrom (including any refusal by any Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented
in connection with such demand do not strictly comply with the terms of such Letter of Credit), whether based on contract, tort or any
other theory (including any investigation of, preparation for, or defense of any pending or threatened claim, litigation, investigation
or proceeding), and regardless of whether any Indemnitee is a party thereto and whether or not such proceedings are brought by the Borrower,
its equity holders, its Affiliates, creditors or any other third Person (all the foregoing, collectively, the “Indemnified Liabilities”);
provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities
or expenses resulted from (x) the gross negligence, bad faith or willful misconduct of such Indemnitee or any of its Related Indemnified
Persons as determined by a final, non-appealable judgment of a court of competent jurisdiction, (y) a material breach of any obligations
under any Loan Document by such Indemnitee or any of its Related Indemnified Persons as determined by a final, non-appealable judgment
of a court of competent jurisdiction or (z) any dispute solely among Indemnitees other than any claims against an Indemnitee in its
capacity or in fulfilling its role as an administrative agent or arranger or any similar role under any Loan Document and other than any
claims arising out of any act or omission of Holdings or any of its Affiliates (as determined by a final, non-appealable judgment of a
court of competent jurisdiction). To the extent that the undertakings to indemnify and hold harmless set forth in this Section 10.05
may be unenforceable in whole or in part because they are violative of any applicable Law or public policy, the Borrower shall contribute
the maximum portion that they are permitted to pay and satisfy under applicable Law to the payment and satisfaction of all Indemnified
Liabilities incurred by the Indemnitees or any of them. No Indemnitee shall be liable for any damages arising from the use by others of
any information or other materials obtained through IntraLinks or other similar information transmission systems in connection with this
Agreement (except to the extent such damages are found in a final non-appealable judgment of a court of competent jurisdiction to have
resulted from the willful misconduct, bad faith or gross negligence of such Indemnitee), nor shall any Indemnitee or any Loan Party have
any liability for any special, punitive, indirect or consequential damages relating to this Agreement or any other Loan Document or arising
out of its activities in connection herewith or therewith (whether before or after the Closing Date) (other than, in the case of any Loan
Party, in respect of any such damages incurred or paid by an Indemnitee to a third party for which such Indemnitee is otherwise entitled
to indemnification pursuant to this Section 10.05). In the case of an investigation, litigation or other proceeding to which the
indemnity in this Section 10.05 applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding
is brought by any Loan Party, its directors, stockholders or creditors or an Indemnitee or any other Person, whether or not any Indemnitee
is otherwise a party thereto and whether or not any of the transactions contemplated hereunder or under any of the other Loan Documents
is consummated. All amounts due under this Section 10.05 shall be paid within thirty (30) Business Days after written demand therefor.
The agreements in this Section 10.05 shall survive the resignation of the Administrative Agent, the replacement of any Lender, the
termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. This Section 10.05
shall not apply to Taxes, except any Taxes that represent losses or damages arising from any non-Tax claim. Notwithstanding the foregoing,
each Indemnitee shall be obligated to refund and return promptly any and all amounts paid by any Loan Party or any of its Affiliates under
this Section 10.05 to such Indemnitee for any such fees, expenses or damages to the extent such Indemnitee is not entitled to payment
of such amounts in accordance with the terms hereof as determined by a final, non-appealable judgment of a court of competent jurisdiction.

 

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SECTION 10.06     Marshaling;
Payments Set Aside. None of the Administrative Agent or any Lender shall be under any obligation to marshal any assets in favor of
the Loan Parties or any other party or against or in payment of any or all of the Obligations. To the extent that any payment by or on
behalf of the Borrower is made to any Agent or any Lender, or any Agent or any Lender exercises its right of setoff, and such payment
or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or
required (including pursuant to any settlement entered into by such Agent or such Lender in its discretion) to be repaid to a trustee,
receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of
such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect
as if such payment had not been made or such setoff had not occurred, and (b) each Lender severally agrees to pay to the Administrative
Agent upon demand its applicable share of any amount so recovered from or repaid by any Agent, plus interest thereon from the date of
such demand to the date such payment is made at a rate per annum equal to the Overnight Rate from time to time in effect.

 

SECTION 10.07     Successors
and Assigns.

 

(a)           The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
registered assigns permitted hereby, except that neither Holdings nor the Borrower may, except as permitted by Section 7.03, assign
or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each
Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder (including to existing Lenders and their
Affiliates) except (i) to an assignee in accordance with the provisions of Section 10.07(b) (such an assignee, an “Eligible
Assignee”) and in the case of any Eligible Assignee that is Holdings, the Borrower or any Subsidiary of the Borrower, in accordance
with the provisions of Section 10.07(h), (ii) by way of participation in accordance with the provisions of Section 10.07(d),
or (iii) by way of pledge or assignment of a security interest subject to the restrictions of Section 10.07(f), or (iv) to
an SPC in accordance with the provisions of Section 10.07(g) (and any other attempted assignment or transfer by any party hereto
shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in Section 10.07(d) and,
to the extent expressly contemplated hereby, Related Persons of each of the Administrative Agent and the Lenders) any legal or equitable
right, remedy or claim under or by reason of this Agreement.

 

(b)           Assignments
by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans (including for purposes of this Section 10.07(b), participations in L/C
Obligations) at the time owing to it); provided that any such assignment shall be subject to the following conditions:

 

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(i)           Minimum
Amounts.

 

(A)           in
the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to
it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and

 

(B)           in
any case not described in subsection (b)(i)(A) of this Section 10.07, the aggregate amount of the Commitment or, the principal
outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the
Assignment and Assumption, as of the Trade Date, shall not be less than $1.0 million, in the case of Term Loans, and not less than $5.0
million, in the case of Revolving Loans and Revolving Commitments, unless each of the Administrative Agent and, so long as no Event of
Default under Section 8.01(1) or Section 8.01(6) has occurred and is continuing, the Borrower otherwise consents (in
the case of an assignment of Term Loans, each such consent not to be unreasonably withheld or delayed); provided, however,
that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible
Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining
whether such minimum amount has been met.

 

(ii)           Proportionate
Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights
and obligations under this Agreement with respect to the Loans or the Commitment assigned (it being understood that assignments under
separate Facilities shall not be required to be made on a pro rata basis).

 

(iii)           Required
Consents. No consent shall be required for any assignment except to the extent required by Section 10.07(b)(i)(B) and, in
addition:

 

(A)           the
consent of the Borrower ( such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default
under Section 8.01(1) or Section 8.01(6) has occurred and is continuing at the time of such assignment determined
as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if a “Trade
Date” is specified in the Assignment and Assumption, as of the Trade Date, (2) in respect of an assignment of all or a portion
of the Term Loans only, such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund, or (3) in respect of an assignment
of all or a portion of the Revolving Loans and Revolving Commitments only, such assignment is to a Revolving Lender; provided that
the Borrower shall be deemed to have consented to any assignment unless it shall have objected thereto by written notice to the Administrative
Agent within ten (10) Business Days after having received notice of a failure to respond to such request for assignment; provided
further that no consent of the Borrower shall be required for an assignment of all or a portion of the Loans pursuant to Section 10.07(h);

 

(B)           the
consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if such assignment is
to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender; provided that no
consent of the Administrative Agent shall be required for an assignment of all or a portion of the Loans pursuant to Section 10.07(h);

 

(C)           the
consent of each applicable Issuing Bank at the time of such assignment (such consent not to be unreasonably withheld or delayed) shall
be required; provided that no consent of the applicable Issuing Bank shall be required (1) if such assignment is to a Person
that is a Revolving Lender, an Affiliate of such Revolving Lender or an Approved Fund with respect to such Revolving Lender or (2) for
any assignment not related to Revolving Commitments or Revolving Exposure.

 

(iv)          Assignment
and Assumption. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption
via an electronic settlement system acceptable to the Administrative Agent (or, if previously agreed with the Administrative Agent, manually),
and shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion
of the Administrative Agent). Other than in the case of assignments pursuant to Section 10.07(h), the Eligible Assignee, if it shall
not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and all applicable tax forms.

 

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(v)           No
Assignments to Certain Persons. No such assignment shall be made (A) to Holdings, the Borrower or any of the Borrower’s
Subsidiaries or Affiliates except as permitted under Sections 2.05(1)(e) and 10.07(h), (B) to a natural person, (C) to
any Disqualified Institution or (D) to any Defaulting Lender.

 

In connection with any assignment of rights and obligations
of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto
set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount
sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or sub
participations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable
Pro Rata Share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative
Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full Pro Rata Share of
all Loans and participations in Letters of Credit in accordance with its Pro Rata Share. Notwithstanding the foregoing, in the event that
any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance
with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of
this Agreement until such compliance occurs.

 

Subject to acceptance and recording thereof by the
Administrative Agent pursuant to clause (c) of this Section 10.07, from and after the effective date specified in each
Assignment and Assumption, other than in connection with an assignment pursuant to Section 10.07(h), (x) the assignee thereunder
shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and (y) the assigning Lender thereunder shall, to the extent of the interest assigned
by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption
covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto
but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, 10.04 and 10.05 with respect to facts and circumstances
occurring prior to the effective date of such assignment), but shall in any event continue to be subject to Section 10.09. Upon request,
and the surrender by the assigning Lender of its Note, the Borrower (at its expense) shall execute and deliver a Note to the assignee
Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection
shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance
with Section 10.07(d).

 

(c)           The
Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall maintain at the Administrative Agent’s
Office a copy of each Assignment and Assumption delivered to it, each notice of cancellation of any Loans delivered by the Borrower pursuant
to subsections (h) or (l) below, and a register for the recordation of the names and addresses of the Lenders, and the Commitments
of, and principal amounts (and related interest amounts) of the Loans, L/C Obligations (specifying Unreimbursed Amounts), L/C Borrowings
and amounts due under Section 2.03, owing to each Lender pursuant to the terms hereof from time to time (the “Register”).
The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Agents and the Lenders shall treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding
notice to the contrary. The Register shall be available for inspection by the Borrower, any Agent and, with respect to its own Loans,
any Lender, at any reasonable time and from time to time upon reasonable prior notice. This Section 10.07(c) and Section 2.11
shall be construed so that all Loans are at all times maintained in “registered form” within the meaning of Sections 163(f),
871(h)(2) and 881(c)(2) of the Code and any related Treasury regulations (or any other relevant or successor provisions of the
Code or of such Treasury regulations).

 

(d)           Any
Lender may at any time, without the consent of, or notice to, the Borrower, the Administrative Agent or any Issuing Bank, sell participations
to any Person (other than a natural person, the Borrower and its Affiliates, a Defaulting Lender or a Disqualified Institution) (each,
a “Participant”) in all or a portion of such Lender’s rights or obligations under this Agreement (including all
or a portion of its Commitment or the Loans (including such Lender’s participations in L/C Obligations) owing to it); provided
that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Agents and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under
this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall
retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any
provision of this Agreement or any other Loan Document; provided that such agreement or instrument may provide that such Lender
will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso
to Section 10.01(1) (other than clauses (g),(h) and (i) thereof) that directly and adversely affects such Participant.
Subject to subsection (e) of this Section 10.07, the Borrower agrees that each Participant shall be entitled to the benefits
of Sections 3.01 (subject to the requirements of Section 3.01 (including subsections (2), (3) and (4), as applicable) as though
it were a Lender; provided that any forms required to be provided under Section 3.01(3) shall be provided solely to the participating
Lender), 3.04 and 3.05 (through the applicable Lender) to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to subsection (b) of this Section 10.07. To the extent permitted by applicable Law, each Participant also shall be
entitled to the benefits of Section 10.10 as though it were a Lender; provided that such Participant shall agree to be subject
to Section 2.13 as though it were a Lender.

 

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(e)           Limitations
upon Participant Rights. A Participant shall not be entitled to receive any greater payment under Section 3.01, 3.04 or 3.05
than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the
sale of the participation to such Participant is made with the Borrower’s prior written consent (not to be unreasonably withheld
or delayed). Each Lender that sells a participation shall (acting solely for this purpose as a non-fiduciary agent of the Borrower) maintain
a register complying with the requirements of Sections 163(f), 871(h) and 881(c)(2) of the Code and the Treasury regulations
issued thereunder on which is entered the name and address of each Participant and the principal amounts (and related interest amounts)
of each Participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”).
The entries in the Participant Register shall be conclusive absent manifest error, and such Lender and the Borrower shall treat each Person
whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding
any notice to the contrary; provided that no Lender shall have the obligation to disclose all or a portion of the Participant Register
(including the identity of the Participant or any information relating to a Participant’s interest in any commitments, loans, letters
of credit or other obligations under any Loan Document) to any Person except to the extent such disclosure is necessary to establish that
any such commitments, loans, letters of credit or other obligations are in registered form for U.S. federal income tax purposes or such
disclosure is otherwise required under Treasury Regulations Section 5f.103-1(c) or Proposed Section 1.163-5(b) (or,
in each case, any amended or successor sections).

 

(f)           Any
Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under
its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve
Bank or any other central bank; provided that no such pledge or assignment shall release such Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

 

(g)           Notwithstanding
anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding
vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower (an “SPC”)
the option to provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement;
provided that (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, (ii) if an SPC elects not
to exercise such option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be obligated to make such Loan
pursuant to the terms hereof and (iii) such SPC and the applicable Loan or any applicable part thereof shall be appropriately reflected
in the Participant Register. Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of
such option shall increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this Agreement
(including its obligations under Section 3.01, 3.04 or 3.05), (ii) no SPC shall be liable for any indemnity or similar payment
obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including
the approval of any amendment, waiver or other modification of any provision of any Loan Document, remain the Lender hereunder. The making
of a Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by
such Granting Lender. Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without prior
consent of the Borrower and the Administrative Agent and with the payment of a processing fee of $3,500 (which processing fee may be waived
by the Administrative Agent in its sole discretion), assign all or any portion of its right to receive payment with respect to any Loan
to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Loans to any
rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC.

 

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(h)           Any
Lender may, so long as no Event of Default has occurred and is continuing, at any time, assign all or a portion of its rights and obligations
with respect to Term Loans under this Agreement to Holdings, the Borrower or any Subsidiary of the Borrower through (x) Dutch auctions
or other offers to purchase open to all Lenders on a pro rata basis in accordance with procedures of the type described in Section 2.05(1)(e) or
(y) open market purchases on a non-pro rata basis; provided that:

 

(i)             (x) if
the assignee is Holdings or a Subsidiary of the Borrower, upon such assignment, transfer or contribution, the applicable assignee shall
automatically be deemed to have contributed or transferred the principal amount of such Term Loans, plus all accrued and unpaid
interest thereon, to the Borrower; or (y) if the assignee is the Borrower (including through contribution or transfers set forth
in clause (x)), (a) the principal amount of such Term Loans, along with all accrued and unpaid interest thereon, so contributed,
assigned or transferred to the Borrower shall be deemed automatically cancelled and extinguished on the date of such contribution, assignment
or transfer, (b) the aggregate outstanding principal amount of Term Loans of the remaining Lenders shall reflect such cancellation
and extinguishing of the Term Loans then held by the Borrower and (c) the Borrower shall promptly provide notice to the Administrative
Agent of such contribution, assignment or transfer of such Term Loans, and the Administrative Agent, upon receipt of such notice, shall
reflect the cancellation of the applicable Term Loans in the Register;

 

(ii)           each
Person that purchases any Loans pursuant to clause (x) of this subsection (l) shall represent and warrant to the selling
Lender that it does not possess material non-public information (or material information of the type that would not be public if the Borrower
or any Parent Company were a publicly-reporting company) with respect to the Borrower and its Subsidiaries that either (1) has not
been disclosed to the Lenders generally (other than Lenders that have elected not to receive such information) or (2) if not disclosed
to the Lenders, would reasonably be expected to have a material effect on, or otherwise be material to (A) a Lender’s decision
to participate in any such assignment or (B) the market price of such Loans, or shall make a statement that such representation cannot
be made;

 

(iii)          each
Lender that assigns any Loans to Holdings, the Borrower or any Subsidiary of the Borrower pursuant to clause (y) above shall
deliver to the Administrative Agent and the Borrower a customary Big Boy Letter (unless such Person is willing, in its sole discretion,
to make the representation and warranty contemplated by the foregoing clause (ii)); and

 

(iv)          purchases
of Term Loans pursuant to this subsection (l) may not be funded with the proceeds of Revolving Loans.

 

(i)           Notwithstanding
anything to the contrary contained herein, without the consent of the Borrower or the Administrative Agent, (1) any Lender may in
accordance with applicable Law create a security interest in all or any portion of the Loans owing to it and the Note, if any, held by
it and (2) any Lender that is a Fund may create a security interest in all or any portion of the Loans owing to it and the Note,
if any, held by it to the trustee for holders of obligations owed, or securities issued, by such Fund as security for such obligations
or securities; provided that unless and until such trustee actually becomes a Lender in compliance with the other provisions of
this Section 10.07, (i) no such pledge shall release the pledging Lender from any of its obligations under the Loan Documents
and (ii) such trustee shall not be entitled to exercise any of the rights of a Lender under the Loan Documents even though such trustee
may have acquired ownership rights with respect to the pledged interest through foreclosure or otherwise.

 

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(j)           The
Administrative Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce,
compliance with the provisions hereof relating to Disqualified Institutions. Without limiting the generality of the foregoing, the Administrative
Agent shall not (x) be obligated to ascertain, monitor or inquire as to whether any Lender or Participant or prospective Lender or
Participant is a Disqualified Institution or (y) have any liability with respect to or arising out of any assignment or participation
of Loans or Commitments, or disclosure of confidential information, to any ‎Disqualified Institution.

 

SECTION 10.08     Resignation
of Issuing Bank. Notwithstanding anything to the contrary contained herein, any Issuing Bank may, upon thirty (30) Business Days’
notice to the Borrower and the Lenders, resign as an Issuing Bank, so long as on or prior to the expiration of such 30-Business Day period
with respect to such resignation, the relevant Issuing Bank shall have identified a successor Issuing Bank reasonably acceptable to the
Borrower willing to accept its appointment as successor Issuing Bank. In the event of any such resignation of an Issuing Bank, the Borrower
shall be entitled to appoint from among the Lenders willing to accept such appointment a successor Issuing Bank hereunder; provided
that no failure by the Borrower to appoint any such successor shall affect the resignation of the relevant Issuing Bank except as
expressly provided above. If an Issuing Bank resigns as an Issuing Bank, it shall retain all the rights and obligations of an Issuing
Bank hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as an Issuing Bank and all
L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in
Unreimbursed Amounts pursuant to Section 2.03(3)).

 

SECTION 10.09     Confidentiality.
Each of the Agents, the Arrangers, the Lenders and each Issuing Bank agrees to maintain the confidentiality of the Information in accordance
with its customary procedures (as set forth below), except that Information may be disclosed (a) to its Affiliates and to its and
its Affiliates’ respective partners, directors, officers, employees, legal counsel, independent auditors, agents, trustees, advisors
and representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature
of such Information and instructed to keep such Information confidential, with such Affiliate being responsible for such Person’s
compliance with this Section 10.09; provided, however, that such Agent, Arranger, Lender or Issuing Bank, as applicable,
shall be principally liable to the extent this Section 10.09 is violated by one or more of its Affiliates or any of its or their
respective employees, directors or officers), (b) to the extent requested by any regulatory authority purporting to have jurisdiction
over it (including any self-regulatory authority, such as the National Association of Insurance Commissioners), including pursuant to
any applicable law or regulation; provided, however, that, other than disclosures required in the ordinary course of business
by law or regulation, each Agent, each Arranger, each Lender and each Issuing Bank agrees to notify the Borrower promptly thereof to the
extent it is legally permitted to do so, (c) to the extent required by applicable laws or regulations or by any subpoena or otherwise
as required by applicable Law or regulation or as requested by a governmental authority; provided that other than disclosures required
in the ordinary course by law or regulation, such Agent, such Arranger, such Lender or such Issuing Bank, as applicable, agrees that it
will (x) notify the Borrower as soon as practicable in the event of any such disclosure by such Person (except in connection with
any request as part of a regulation examination) unless such notification is prohibited by law, rule or regulation and (y) seek
confidential treatment with respect to any such disclosure, (d) to any other party hereto, (e) subject to an agreement containing
provisions at least as restrictive as those of this Section 10.09, to (i) any assignee of or Participant in, or any prospective
assignee of or Participant in, any of its rights or obligations under this Agreement or any Eligible Assignee (or its agent) invited to
be an Additional Lender or (ii) any actual or prospective direct or indirect counterparty (or its advisors) to any swap or derivative
transaction relating to the Borrower or any of their Subsidiaries or any of their respective obligations; provided that such disclosure
shall be made subject to the acknowledgment and acceptance by such prospective Lender, Participant or Eligible Assignee that such Information
is being disseminated on a confidential basis (on substantially the terms set forth in this paragraph or as is otherwise reasonably acceptable
to the Borrower, the Agents and the Arrangers, including as set forth in any confidential information memorandum or other marketing materials)
in accordance with the standard syndication process of the Agents and the Arrangers or market standards for dissemination of such type
of information which shall in any event require “click through” or other affirmative action on the part of the recipient to
access such confidential information, (f) for purposes of establishing a “due diligence” defense, (g) on a confidential
basis to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or the credit facilities provided hereunder,
(ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other market
identifiers with respect to the credit facilities provided hereunder, or (iii) market data collectors, similar service providers
to the lending industry and service providers to the Agents and the Lenders in connection with the administration, settlement and management
of this Agreement and the credit facilities provided hereunder, (h) with the consent of the Borrower or (i) to the extent such
Information (x) becomes publicly available other than as a result of a breach by any Person of this Section 10.09 or any other
confidentiality provision in favor of any Loan Party, (y) becomes available to any Agent, any Arranger, any Lender, any Issuing Bank
or any of their respective Affiliates on a nonconfidential basis from a source other than Holdings, the Borrower or any Subsidiary thereof,
and which source is not known by such Agent, such Lender, such Issuing Bank or the applicable Affiliate to be subject to a confidentiality
restriction in respect thereof in favor of Holdings, the Borrower or any Affiliate thereof or (z) is independently developed by the
Agents, the Lenders, the Issuing Banks, the Arrangers or their respective Affiliates, in each case, so long as not based on information
obtained in a manner that would otherwise violate this Section 10.09.

 

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For purposes of this Section 10.09, “Information”
means all information received from any Loan Party or any Subsidiary thereof relating to any Loan Party or any Subsidiary or Affiliate
thereof or their respective businesses, other than any such information that is available to any Agent, any Lender or any Issuing Bank
on a nonconfidential basis prior to disclosure by any Loan Party or any Subsidiary thereof; it being understood that no information received
from Holdings, the Borrower or any Subsidiary or Affiliate thereof after the date hereof shall be deemed nonconfidential on account of
such information not being clearly identified at the time of delivery as being confidential. Any Person required to maintain the confidentiality
of Information as provided in this Section 10.09 shall be considered to have complied with its obligation to do so in accordance
with its customary procedures if such Person has exercised the same degree of care to maintain the confidentiality of such Information
as such Person would accord to its own confidential information.

 

Each Agent, each Arranger, each Lender and each Issuing
Bank acknowledges that (a) the Information may include trade secrets, protected confidential information, or material non-public
information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the
use of such information and (c) it will handle such information in accordance with applicable Law, including United States Federal
and state securities Laws and to preserve its trade secret or confidential character.

 

The respective obligations of the Agents, the Arrangers,
the Lenders and any Issuing Bank under this Section 10.09 shall survive, to the extent applicable to such Person, (x) the payment
in full of the Obligations and the termination of this Agreement, (y) any assignment of its rights and obligations under this Agreement
and (z) the resignation or removal of any Agent.

 

SECTION 10.10     Setoff.
If an Event of Default shall have occurred and be continuing, each Lender and each Issuing Bank (and each of their respective Affiliates)
is hereby authorized at any time and from time to time, after obtaining the prior written consent of the Administrative Agent, to the
fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional
or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender or such
Issuing Bank (or their respective Affiliates) to or for the credit or the account of any Loan Party against any and all of the obligations
of such Loan Party then due and payable under this Agreement or any other Loan Document to such Lender or such Issuing Bank (or their
respective Affiliates), irrespective of whether or not such Lender or such Issuing Bank (or their respective Affiliates) shall have made
any demand under this Agreement or any other Loan Document; provided that in the event that any Defaulting Lender shall exercise
any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application
in accordance with the provisions of Section 2.17 and, pending such payment, shall be segregated by such Defaulting Lender from its
other funds and deemed held in trust for the benefit of the Administrative Agent, the Issuing Banks, and the Lenders (and each of their
respective Affiliates), and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in
reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender
and each Issuing Bank (and each of their respective Affiliates) under this Section 10.10 are in addition to other rights and remedies
(including other rights of setoff) that such Lender or such Issuing Bank (or each of their respective Affiliates) may have. Each Lender
and each Issuing Bank (and each of their respective Affiliates) agrees to notify the Borrower and the Administrative Agent promptly after
any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and
application.

 

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SECTION 10.11     Interest
Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under
the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”).
If any Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to
the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted
for, charged, or received by an Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law,
(a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary
prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of
interest throughout the contemplated term of the Obligations hereunder.

 

SECTION 10.12     Counterparts;
Integration; Effectiveness. This Agreement and each of the other Loan Documents may be executed in counterparts (and by different
parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute
a single contract. This Agreement and the other Loan Documents constitute the entire contract among the parties relating to the subject
matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.
Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative
Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each
of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic
imaging (including in .pdf format) means shall be effective as delivery of a manually executed counterpart of this Agreement. The words
 “execution,” “execute”, “signed,” “signature,” and words of like import in or related
to any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without limitation
Assignment and Assumptions, amendments or other Committed Loan Notices, waivers and consents) shall be deemed to include electronic signatures,
the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the
keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed
signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

 

SECTION 10.13     Electronic
Execution of Assignments and Certain Other Documents. The words “delivery,” “execution,” “execute,”
 “signed,” “signature,” and words of like import in or related to any document to be signed in connection with
this Agreement and the transactions contemplated hereby (including without limitation Assignment and Assumptions, amendments or other
modifications, Committed Loan Notices, waivers and consents) shall be deemed to include electronic signatures, the electronic matching
of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in
electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical
delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable
Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

 

SECTION 10.14     Survival
of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document or other document
delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof.
Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation
made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may
have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as
any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied.

 

SECTION 10.15     Severability.
If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality,
validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired
thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions
with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.
The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

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SECTION 10.16      GOVERNING
LAW.

 

(a)           THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

(b)           THE
BORROWER, HOLDINGS, THE ADMINISTRATIVE AGENT AND EACH LENDER EACH IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY,
TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY IN THE BOROUGH OF MANHATTAN AND OF THE UNITED
STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF
THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD
AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF
THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. EACH PARTY HERETO AGREES THAT THE AGENTS AND LENDERS RETAIN
THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST ANY LOAN PARTY IN THE COURTS OF ANY OTHER
JURISDICTION IN CONNECTION WITH THE EXERCISE OF ANY RIGHTS UNDER ANY COLLATERAL DOCUMENT OR THE ENFORCEMENT OF ANY JUDGMENT.

 

(c)           THE
BORROWER, HOLDINGS, THE ADMINISTRATIVE AGENT AND EACH LENDER EACH IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT
OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (b) OF THIS SECTION 10.16.
EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT
FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

 

SECTION 10.17      WAIVER
OF RIGHT TO TRIAL BY JURY. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND
THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.17.

 

SECTION 10.18      Binding
Effect. This Agreement shall become effective when it shall have been executed by the Borrower and the Administrative Agent and the
Administrative Agent shall have been notified by each Lender that each such Lender has executed it and thereafter shall be binding upon
and inure to the benefit of the Borrower, each Agent, each Lender, each other party hereto and their respective successors and assigns.

 

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SECTION 10.19      Lender
Action. Each Lender agrees that it shall not take or institute any actions or proceedings, judicial or otherwise, for any right or
remedy against any Loan Party under any of the Loan Documents or the Secured Hedge Agreements (including the exercise of any right of
setoff, rights on account of any banker’s lien or similar claim or other rights of self-help), or institute any actions or proceedings,
or otherwise commence any remedial procedures, with respect to any Collateral or any other property of any such Loan Party, without the
prior written consent of the Administrative Agent. The provision of this Section 10.19 are for the sole benefit of the Lenders and
shall not afford any right to, or constitute a defense available to, any Loan Party.

 

SECTION 10.20      Use
of Name, Logo, etc. Each Loan Party consents to the publication in the ordinary course by Administrative Agent or the Arrangers
of customary advertising material relating to the financing transactions contemplated by this Agreement using such Loan Party’s
name, product photographs, logo or trademark; provided that any such material shall be provided to the Borrower for its review
a reasonable period of time in advance of publication. Such consent shall remain effective until revoked by such Loan Party in writing
to the Administrative Agent and the Arrangers.

 

SECTION 10.21      USA
PATRIOT Act. Each Lender that is subject to the USA PATRIOT Act and/or the Beneficial Ownership Regulations and the Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act
and the Beneficial Ownership Regulations, it is required to obtain, verify and record information that identifies each Loan Party, which
information includes the name and address of each Loan Party and other information that will allow such Lender or the Administrative Agent,
as applicable, to identify each Loan Party in accordance with the USA PATRIOT Act and the Beneficial Ownership Regulations. The Borrower
shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the
Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer”
and anti-money laundering rules and regulations, including the USA PATRIOT Act and Beneficial Ownership Regulations.

 

SECTION 10.22      Service
of Process. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02.
NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

 

SECTION 10.23      No
Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in connection
with any amendment, waiver or other modification hereof or of any other Loan Document), each of the Borrower and Holdings acknowledges
and agrees that (i) (A) the arranging and other services regarding this Agreement provided by the Agents, the Arrangers and
the Lenders are arm’s-length commercial transactions between the Borrower, Holdings and their respective Affiliates, on the one
hand, and the Administrative Agent, the Arrangers and the Lenders, on the other hand, (B) each of the Borrower and Holdings has consulted
its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) each of the Borrower and
Holdings is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby
and by the other Loan Documents; (ii) (A) each Agent, Arranger and Lender is and has been acting solely as a principal and,
except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary
for the Borrower, Holdings or any of their respective Affiliates, or any other Person and (B) none of the Agents, the Arrangers nor
any Lender has any obligation to the Borrower, Holdings or any of their respective Affiliates with respect to the transactions contemplated
hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Agents, the Arrangers,
the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those
of the Borrower, Holdings and their respective Affiliates, and none of the Agents, the Arrangers nor any Lender has any obligation to
disclose any of such interests to the Borrower, Holdings or any of their respective Affiliates. To the fullest extent permitted by law,
each of the Borrower and Holdings hereby waives and releases any claims that it may have against the Agents, the Arrangers or any Lender
with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated
hereby.

 

    	 	216	 

     

    

 

SECTION 10.24      Release
of Collateral and Guarantee Obligations; Subordination of Liens.

 

(a)           The
Lenders and the Issuing Banks hereby irrevocably agree that the Liens granted to the Administrative Agent or the Collateral Agent by the
Loan Parties on any Collateral shall be automatically released (i) in full, as set forth in clause (b) below, (ii) upon
the sale or other transfer of such Collateral (including as part of or in connection with any other sale or other transfer permitted hereunder
(including any Receivables Financing Transaction)) to any Person other than another Loan Party, to the extent such sale, transfer or other
disposition is made in compliance with the terms of this Agreement (and the Collateral Agent may rely conclusively on a certificate to
that effect provided to it by any Loan Party upon its reasonable request without further inquiry), (iii) to the extent such Collateral
is comprised of property leased to a Loan Party by a Person that is not a Loan Party, upon termination or expiration of such lease, (iv) if
the release of such Lien is approved, authorized or ratified in writing by the Required Lenders (or such other percentage of the Lenders
whose consent may be required in accordance with Section 10.01), (v) to the extent the property constituting such Collateral
is owned by any Guarantor, upon the release of such Guarantor from its obligations under the Guaranty (in accordance with the second succeeding
sentence), (vi) as required by the Collateral Agent to effect any sale, transfer or other disposition of Collateral in connection
with any exercise of remedies of the Collateral Agent pursuant to the Collateral Documents and (vii) to the extent such Collateral
otherwise becomes Excluded Assets. Any such release shall not in any manner discharge, affect, or impair the Obligations or any Liens
(other than those being released) upon (or obligations (other than those being released) of the Loan Parties in respect of) all interests
retained by the Loan Parties, including the proceeds of any sale, all of which shall continue to constitute part of the Collateral except
to the extent otherwise released in accordance with the provisions of the Loan Documents. Additionally, the Lenders and the Issuing Banks
hereby irrevocably agree that the Guarantors shall be released from the Guaranties upon consummation of any transaction permitted hereunder
resulting in such Subsidiary ceasing to constitute a Restricted Subsidiary, or otherwise becoming an Excluded Subsidiary; provided, that
(1) an Elective Guarantor shall not be released from its Guaranty on account of being an Excluded Subsidiary with respect to any
characteristic or circumstances that would have qualified such Subsidiary or Parent Company to be an Excluded Subsidiary as of the date
such Subsidiary or Parent Company was made an Elective Guarantor, and (2) if any Subsidiary Guarantor ceases to be wholly-owned,
directly or indirectly, by Holdings, such Subsidiary Guarantor shall not be released from its guarantee of the Obligations unless (A) the
transaction pursuant to which such Subsidiary Guarantor ceases to be a direct or indirect wholly-owned subsidiary of Holdings is consummated
with a bona fide third-party that is not an Affiliate of any Loan Party and the primary purpose of such transaction is not the release
of any guarantee of the Obligations or Lien on any assets or properties such Subsidiary Guarantor and (B) with respect to transactions
in which Holdings retains, directly or indirectly, any ownership of equity interests in such subsidiary, the Borrower (or such other immediate
parent of such former Subsidiary Guarantor, as applicable) shall be required to have available investment capacity under this Agreement
as necessary to hold such remaining investment (and shall be deemed to have made such investment as if such person were newly acquired)
in such non-wholly-owned Subsidiary (it being understood that this proviso shall not limit the release of any Subsidiary Guarantor that
is otherwise an Excluded Subsidiary for reasons other than not being wholly-owned). The Lenders and the Issuing Banks hereby authorize
the Administrative Agent and the Collateral Agent, as applicable, to execute and deliver any instruments, documents, consents, acknowledgements,
and agreements necessary or desirable to evidence or confirm the release of any Guarantor or Collateral pursuant to the foregoing provisions
of this paragraph, all without the further consent or joinder of any Lender or Issuing Bank. Any representation, warranty or covenant
contained in any Loan Document relating to any such released Collateral or Guarantor shall no longer be deemed to be repeated.

 

(b)           Notwithstanding
anything to the contrary contained herein or any other Loan Document, when the Termination Conditions are satisfied, upon request of the
Borrower, the Administrative Agent or Collateral Agent, as applicable, shall (without notice to, or vote or consent of, any Secured Party)
take such actions as shall be required to release its security interest in all Collateral, and to release all obligations under any Loan
Document, whether or not on the date of such release there may be any (i) Hedging Obligations in respect of any Secured Hedge Agreements,
(ii) Cash Management Obligations in respect of any Secured Cash Management Agreements, (iii) contingent obligations not then
due and (iv) Outstanding Amount of L/C Obligations related to any Letter of Credit that has been Cash Collateralized, backstopped
by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable
to the applicable Issuing Bank. Any such release of Obligations shall be deemed subject to the provision that such Obligations shall be
reinstated if after such release any portion of any payment in respect of the Obligations guaranteed thereby shall be rescinded or must
otherwise be restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or any Guarantor,
or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower
or any Guarantor or any substantial part of its property, or otherwise, all as though such payment had not been made.

 

    	 	217	 

     

    

 

(c)           Notwithstanding
anything to the contrary contained herein or in any other Loan Document, upon request of the Borrower in connection with any Liens permitted
by the Loan Documents, the Administrative Agent or Collateral Agent, as applicable, shall (without notice to, or vote or consent of, any
Secured Party) take such actions as shall be required to subordinate the Lien on any Collateral to any Lien permitted under Section 7.01
to be senior to the Liens in favor of the Collateral Agent.

 

SECTION 10.25      Acknowledgement
and Consent to Bail-In of Affected Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any
other agreement, arrangement or understanding among the parties hereto, each party hereto acknowledges that any liability of any Affected
Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and
Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

 

(a)           the
application of any Write-Down and Conversion Powers by an the applicable Resolution Authority to any such liabilities arising hereunder
which may be payable to it by any party hereto that is an Affected 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 Affected Financial Institution,
its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments
of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document;
or

 

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

 

SECTION 10.26      Acknowledgement
Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Hedge Agreements
or any other agreement or instrument that is a QFC (such support “QFC Credit Support” and each such QFC a “Supported
QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation
under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the
regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC
Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated
to be governed by the laws of the State of New York and/or of the United States or any other state of the United States):

 

In the event a Covered Entity that is party to a
Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the
transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported
QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered
Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported
QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States
or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding
under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any
QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default
Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws
of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and
remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a
Supported QFC or any QFC Credit Support.

 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY
LEFT BLANK.]

 

    	 	218	 

     

    

 

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

 

	 	WIDEOPENWEST FINANCE, LLC, a Delaware limited liability company,
    as Borrower
	 	 
	 	 
	 	By:	/s/ John Rego
	 	 	Name:	John Rego
	 	 	Title:	 Chief Financial Officer
	 	 
	 	WIDEOPENWEST,INC., a Delaware corporation, as Holdings
	 	 
	 	 
	 	By:	/s/ John Rego
	 	 	Name:	John Rego
	 	 	Title:	Chief Financial Officer

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	MORGAN STANLEY SENIOR FUNDING,INC.,

 as Administrative
    Agent, Collateral Agent,Issuing Bank and a Lender
	 	 
	 	 
	 	By:	/s/ Constantine Darras
	 	 	Name:	Constantine Darras
	 	 	Title:	Authorized Signatory

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	KeyBank National Association,
    as an Issuing Bank and a Lender
	 	 
	 	 
	 	By:	/s/ David Raczka
	 	 	Name:	 David Raczka
	 	 	Title:	Senior Vice President

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	Bank
    of America, N. A., as an Issuing Bank and a Lender
	 	 
	 	 
	 	By:	/s/ John Sletten
	 	 	Name:	John Sletten
	 	 	Title:	Senior Vice President

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	Credit Suisse AG, Cayman
    Islands Branch, as an Issuing Bank and a Lender
	 	 
	 	 
	 	By:	/s/ Judith E. Smith
	 	 	Name:	Judith E. Smith
	 	 	Title:	Authorized Signatory
	 	 
	 	By:	/s/ Jessica Gavarkovs
	 	 	Name:	 Jessica Gavarkovs
	 	 	Title:	Authorized Signatory

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	Goldman Sachs Bank USA,
    as an Issuing Bank and a Lender
	 	 
	 	 
	 	By:	/s/ Thomas Manning
	 	 	Name:	Thomas Manning
	 	 	Title:	Authorized Signatory

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	Regions
Bank, as an Issuing Bank and a Lender
	 	 
	 	 
	 	By:	/s/ Mark Guile
	 	 	Name:	Mark Guile
	 	 	Title:	 Director

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

	 	Wells
Fargo Bank, N.A., as an Issuing Bank and a Lender
	 	 
	 	 
	 	By:	/s/ Daniel Kurtz
	 	 	Name:	Daniel Kurtz
	 	 	Title:	Director

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

 

	 	Manufacturers
and Traders Trust Company, as an Issuing Bank and a Lender
	 	 
	 	 
	 	By:	/s/ Brooks W. Thropp
	 	 	Name:	Brooks W. Thropp
	 	 	Title:	Administrative Vice President

 

[Signature
Page to Credit Agreement]

 

     

     

    

 

Schedule
1.01(1)

Closing Date Subsidiary Guarantors

 

		1.	WOW Business Services, LLC

		2.	Wiregrass Telcom, Inc.

		3.	WideOpenWest Networks, LLC

		4.	WideOpenWest Mid-Michigan, LLC

		5.	WideOpenWest Michigan, LLC

		6.	WideOpenWest Georgia, LLC

		7.	Valley Telephone Co., LLC

		8.	Knology, Inc.

		9.	Knology Total Communications, Inc.
		10.	Knology of the Wiregrass, Inc.
		11.	Knology of the Valley, Inc.
		12.	Knology of Tennessee, Inc.
		13.	KNOLOGY of South Carolina, Inc.
		14.	KNOLOGY of Montgomery, Inc.
		15.	KNOLOGY of Knoxville, Inc.
		16.	KNOLOGY of Huntsville, Inc.
		17.	KNOLOGY of Georgia, Inc.
		18.	Knology of Florida, LLC
		19.	KNOLOGY of Columbus, Inc.
		20.	KNOLOGY of Charleston, Inc.
		21.	Knology of Central Florida, Inc.
		22.	KNOLOGY of Augusta, Inc.
		23.	KNOLOGY of Alabama, Inc.
		24.	Knology Data Center Services, Inc.
		25.	Knology Broadband, Inc.
		26.	ITC Globe, Inc.
		27.	Globe Telecommunications, Inc.
		28.	Communications One, Inc.
		29.	Kite Parent Corp.

 

     

     

    

 

Schedule
1.01(2)

Mortgaged Properties

 

None.

 

     

     

    

 

Schedule
2.01

Commitments

 

	Lenders	 	Term Loan Commitment	 
	Morgan Stanley Bank, N.A.	 	$	730,000,000.00	 
	Total	 	$	730,000,000.00	 

 

	Lenders	 	Revolving Commitment	 	 	L/C Commitment	 
	Morgan Stanley Senior Funding, Inc.	 	$	50,000,000.00	 	 	$	8,000,000.00	 
	KeyBank National Association	 	$	50,000,000.00	 	 	$	8,000,000.00	 
	Bank of America, N.A.	 	$	27,000,000.00	 	 	$	4,320,000.00	 
	Credit Suisse AG, Cayman Islands Branch	 	$	27,000,000.00	 	 	$	4,320,000.00	 
	Goldman Sachs Bank USA	 	$	27,000,000.00	 	 	$	4,320,000.00	 
	Regions Bank	 	$	27,000,000.00	 	 	$	4,320,000.00	 
	Wells Fargo Bank, N.A.	 	$	27,000,000.00	 	 	$	4,320,000.00	 
	Manufacturers and Traders Trust Company	 	$	15,000,000.00	 	 	$	2,400,000.00	 
	Total	 	$	250,000,000.00	 	 	$	40,000,000.00	 

 

     

     

    

 

Schedule
4.01(1)(c)

Certain Collateral Documents

 

		1.	Security Agreement

 

		2.	Guaranty

 

		3.	Perfection Certificate

 

		4.	Intercompany Note

 

		5.	Intellectual Property Security Agreements

 

     

     

    

 

Schedule
4.01(1)(e)

Local Counsel

 

None.

 

     

     

    

 

Schedule
5.12

Subsidiaries and Other Equity Investments

 

	Subsidiary	 	Jurisdiction of 

Organization	 	Owner	 	Percentage Ownership	 
	WideOpenWest Finance, LLC	 	Delaware	 	WideOpenWest, Inc.	 	 	100	%
	WideOpenWest Networks, Inc.	 	Delaware	 	WideOpenWest, Inc.	 	 	100	%
	WideOpenWest Michigan, LLC	 	Delaware	 	WideOpenWest Finance, LLC	 	 	100	%
	WOW Business Services, LLC	 	Delaware	 	WideOpenWest Michigan, LLC	 	 	100	%
	WideOpenWest Mid-Michigan, LLC	 	Delaware	 	WideOpenWest Michigan, LLC	 	 	100	%
	WideOpenWest Mid-Michigan Holdings, LLC	 	Delaware	 	WideOpenWest Michigan, LLC	 	 	100	%
	Maryland Broadband, LLC	 	Delaware	 	WideOpenWest Mid-Michigan Holdings, LLC	 	 	100	%
	Anne Arundel Broadband, LLC	 	Delaware	 	Maryland Broadband, LLC	 	 	100	%
	WideOpenWest Networks, LLC	 	Delaware	 	WideOpenWest Finance, LLC	 	 	100	%
	WideOpenWest Illinois, LLC	 	Delaware	 	WideOpenWest Finance, LLC	 	 	100	%
	WideOpenWest Ohio, LLC	 	Delaware	 	WideOpenWest Finance, LLC	 	 	100	%
	WideOpenWest Cleveland, LLC	 	Delaware	 	WideOpenWest Finance, LLC	 	 	100	%
	Sigecom, LLC	 	Delaware	 	WideOpenWest Finance, LLC	 	 	100	%
	WideOpenWest Capital Corp.	 	Delaware	 	WideOpenWest Finance, LLC	 	 	100	%
	Kite Parent Corp.	 	Delaware	 	WideOpenWest Finance, LLC	 	 	100	%
	WideOpenWest Georgia, LLC	 	Delaware	 	Kite Parent Corp.	 	 	100	%

 

     

     

    

 

	Knology, Inc.	 	Delaware	 	Kite Parent Corp.	 	 	100	%
	Knology of the Valley, Inc.	 	Georgia	 	Knology, Inc.	 	 	100	%
	Valley Telephone Co., LLC	 	Alabama	 	Knology, Inc.	 	 	100	%
	Globe Telecommunications, Inc.	 	Georgia	 	Knology, Inc.	 	 	100	%
	ITC Globe, Inc.	 	Delaware	 	Globe Telecommunications, Inc.	 	 	100	%
	Knology Data Center Services, Inc.	 	Delaware	 	Knology, Inc.	 	 	100	%
	Knology Broadband, Inc.	 	Delaware	 	Knology, Inc.	 	 	100	%
	KNOLOGY of Augusta, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	KNOLOGY of Charleston, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	KNOLOGY of Columbus, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	KNOLOGY of Huntsville, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	KNOLOGY of Montgomery, Inc.	 	Alabama	 	Knology Broadband, Inc.	 	 	100	%
	KNOLOGY of Georgia, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	KNOLOGY of South Carolina, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	Knology of Tennessee, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	Knology Total Communications, Inc.	 	Alabama	 	KNOLOGY of Alabama, Inc.	 	 	100	%
	KNOLOGY of Alabama, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	Knology of the Wiregrass, Inc.	 	Alabama	 	Knology Total Communications, Inc.	 	 	100	%

 

     

     

    

 

	Wiregrass Telcom, Inc.	 	Alabama	 	Knology Total Communications, Inc.	 	 	100	%
	COMMUNICATIONS ONE, Inc.	 	Alabama	 	Knology Total Communications, Inc.	 	 	100	%
	Knology Provider Solutions Group, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	Knology of Central Florida, Inc.	 	Delaware	 	Knology Broadband, Inc.	 	 	100	%
	Knology of Florida, LLC	 	Delaware	 	Knology of Central Florida, Inc.	 	 	100	%
	Knology of Nashville, Inc.	 	Delaware	 	Knology, Inc.	 	 	100	%
	KNOLOGY of Knoxville, Inc.	 	Delaware	 	Knology, Inc.	 	 	100	%
	Knology of Kansas, Inc.	 	Delaware	 	Knology, Inc.	 	 	100	%
	Knology of Kentucky, Inc.	 	Delaware	 	Knology, Inc.	 	 	100	%

 

     

     

    

 

Schedule
6.13(2)

Post-Closing Matters

 

		1.	[ — ]

 

     

     

    

 

Schedule
7.01

Existing Liens

 

None.

 

     

     

    

 

Schedule
7.02

Existing Indebtedness

 

None.

 

     

     

    

 

Schedule
7.05

Existing Investments

 

None.

 

     

     

    

 

Schedule
10.02

Administrative Agent’s Office, Certain Addresses for Notices

 

	If to Holdings or the Borrower:	WideOpenWest Finance, LLC
	 	7887 E. Belleview Ave, Suite

1000 Englewood, CO 80111

 Attention: Olivia Ponder
	 	Email: olivia.ponder@wowinc.com
 Website: wowway.com

 

	With a copy to:	Honigman LLP
	 	315 Eisenhower Parkway
 Ann Arbor, MI 48108
 Attention: Barbara Kaye

Email: bkaye@honigman.com

 

	If to the Administrative Agent:	 Morgan
Stanley Senior Funding, Inc.,

as Administrative Agent 

1300 Thames Street

Thames Street Wharf, 4th Floor

Baltimore, Maryland 21231

Attention: WideOpenWest Account Manager

		Email:	MSLoanNotices@morganstanley.com

Doc4secportfolio@morganstanley.com

 

	With a copy to:	Latham & Watkins LLP

355 South Grand Ave., Suite 100

Los Angeles, California 90071

Attention: Josh Holt

Email: josh.holt@lw.com

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