Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 FIRST
AMENDMENT TO CREDIT AGREEMENT 
 FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) dated as of January 27, 2021
among 
 FIVE BELOW, INC., a Pennsylvania corporation (the “Borrower”); 

1616 HOLDINGS, INC., a Pennsylvania corporation (“Guarantor”);  

the Lenders party hereto; and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent and collateral agent (in such capacities, including any successor
thereto, the “Agent”);  
 in consideration of the mutual covenants herein contained and benefits to be derived
herefrom. 
 W I T N E S S E T H: 

WHEREAS, the Borrower, the Guarantor, certain of the Lenders, and the Agent, among others, have entered into that certain Fifth Amended and
Restated Credit Agreement dated as of April 24, 2020 (as amended and in effect prior to the date hereof, the “Credit Agreement”); and 

WHEREAS, the parties to the Credit Agreement party hereto desire to modify certain provisions of the Credit Agreement as provided herein. 

NOW THEREFORE, in consideration of the mutual promises and agreements herein contained, the parties hereto hereby agree as follows: 

 

	1.	 Incorporation of Terms and Conditions of the Credit Agreement. All of the terms and conditions of the
Credit Agreement (including, without limitation, all definitions set forth therein) are specifically incorporated herein by reference. All capitalized terms not otherwise defined herein shall have the same meaning as in the Credit Agreement, as
applicable. 

  

	2.	 Amendments to Credit Agreement. Each of the parties hereto agrees that, effective on the First Amendment
Effective Date: 

  

	 	a.	 Composite Credit Agreement. The Credit Agreement is hereby amended to delete the bold, stricken text
(indicated textually in the same manner as the following example: stricken text) and to add the bold, double-under lined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Credit Agreement attached as Annex A hereto. 

 

	 	b.	 Schedules to Credit Agreement. Schedule 10.02 to the Credit Agreement is hereby replaced by the
corresponding new schedule attached as Annex B hereto. 

	3.	 Conditions to Effectiveness. This Amendment shall become effective on the date (the “First
Amendment Effective Date”) when each of the following conditions precedent have been fulfilled to the satisfaction of the Agent: 

  

	 	a.	 this Amendment shall have been duly executed and delivered by the Borrower, Guarantor, Agent and the Lenders.
The Agent shall have received a fully executed original or pdf copy hereof; 

  

	 	b.	 all action on the part of the Loan Parties necessary for the valid execution, delivery and performance by the
Loan Parties of this Amendment shall have been duly and effectively taken or obtained; 

  

	 	c.	 the Agent shall have received a counterpart of the First Amendment Fee Letter, dated as of the First Amendment
Effective Date (the “Fee Letter”), executed and delivered by a duly authorized officer of the Borrower; 

  

	 	d.	 the Agent shall have received an amended and restated note executed by the Borrower in favor of each Lender
that received a Note on the Closing Date (each such note, an “Amended and Restated Note”) to the extent requested by such Lender prior to the First Amendment Effective Date, which Amended and Restated Note shall replace such Note,
dated as of April 24, 2020; 

  

	 	e.	 the Agent shall have received a letter agreement executed by the Agent and each Lender (as defined in the
Credit Agreement) who will no longer be a Lender following the effectiveness of this Amendment, dated as of the date hereof and in form and substance satisfactory to the Agent; 

 

	 	f.	 the Agent shall have received such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of each Loan Party evidencing (A) the authority of each Loan Party to enter into this Amendment and (B) the identity, authority and capacity of each Responsible Officer thereof authorized to act
as a Responsible Officer in connection with this Amendment; 

  

	 	g.	 the Agent shall have received copies of each Loan Party’s Organization Documents and such other documents
and certifications as the Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in each jurisdiction where its
ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to so qualify in such jurisdiction would not reasonably be expected to have a Material Adverse Effect;

  

	 	h.	 the Agent shall have received results of searches or other evidence reasonably satisfactory to the Agent (in
each case dated as of a date reasonably satisfactory to the Agent) indicating the absence of Liens on the assets of the Loan Parties, except for Permitted Encumbrances and Liens for which termination statements and releases, satisfactions and
discharges of any mortgages, and releases or subordination agreements reasonably satisfactory to the Agent are being tendered concurrently with such extension of credit or other arrangements reasonably satisfactory to the Agent for the delivery of
such termination statements and releases, satisfactions and discharges have been made; 

  
 2 

	 	i.	 all documents and instruments, including Uniform Commercial Code financing statements, required by law or
reasonably requested by the Agent to be filed, registered or recorded to create or perfect the first priority Liens (subject to Permitted Encumbrances that have priority by operation of Law) intended to be created under the Loan Documents and all
such documents and instruments shall have been so filed, registered or recorded to the satisfaction of the Agent; 

  

	 	j.	 such other assurances, certificates, documents, consents or opinions as the Agent reasonably may require;

  

	 	k.	 any fees required to be paid to the Agent and the Lenders on the First Amendment Effective Date under the Fee
Letter shall have been (or will substantially concurrently with the consummation of the transactions contemplated hereby be) paid; 

  

	 	l.	 all representations and warranties contained in Article V of the Credit Agreement and in the other Loan
Documents are true and correct in all material respects; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they are 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 is true and correct (after giving effect to any qualification therein) in
all respects; 

  

	 	m.	 after giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing;

  

	 	n.	 the Agent and the Lenders shall have received all documentation and other information required by regulatory
authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the USA PATRIOT Act in each case, the results of which are satisfactory to the Agent, and with respect to any
Loan Party that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to such Loan Party, which such Beneficial Ownership Certification shall be complete and
accurate in all respects; 

  

	4.	 Reaffirmations. Each Loan Party (a) consents to this Amendment and agrees that the transactions
contemplated by this Amendment shall not limit or diminish the obligations of such Person, or release such Person from any obligations, under any of the Loan Documents to which it is a party, (b) confirms and reaffirms its obligations under
each of the Loan Documents to which it is a party and all representations, warranties, and covenants contained therein, and (c) agrees that each of the Loan Documents to which it is a party remains in full force and effect and is hereby
ratified and confirmed. The Guarantor hereby acknowledges, confirms and agrees that the Guaranteed Obligations of the Guarantor under, and as defined in, the Facility Guaranty include, without limitation, all

  
 3 

	 	
Obligations of the Loan Parties at any time and from time to time outstanding under the Credit Agreement and the other Loan Documents. The Loan Parties hereby acknowledge, confirm and agree that
the Security Documents, and any and all Collateral previously pledged to the Agent, for the benefit of the Credit Parties, pursuant thereto, shall continue to secure all applicable Obligations (which, for the avoidance of doubt, shall include all
Obligations outstanding as of the date hereof) of such Loan Parties at any time and from time to time outstanding under the Credit Agreement and the other Loan Documents, including, in each case, after giving effect to this Amendment.

  

	5.	 Binding Effect. The terms and provisions hereof shall be binding upon and inure to the benefit of the
parties hereto and their successors and assigns. 

  

	6.	 Expenses. Without limiting or modifying any provisions of Section 10.04 of the Credit Agreement,
the Borrower shall pay all Credit Party Expenses. 

  

	7.	 Multiple Counterparts. This Amendment 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. 

  

	8.	 Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK. 

  
 4 

 IN WITNESS WHEREOF, this Amendment has been duly executed and delivered by each of the parties hereto as of
the date first above written. 
  

			
	BORROWER:
	
	FIVE BELOW, INC., as Borrower
		
	By:	 	 /s/ Ronald J.
Masciantonio                    

	Name:	 	Ronald J. Masciantonio
	Title:	 	Senior Vice President,
		 	General Counsel and Secretary
	
	GUARANTOR:
	
	1616 HOLDINGS, INC., as Guarantor
		
	By:	 	 /s/ Ronald J. Masciantonio

	Name:	 	Ronald J. Masciantonio
	Title:	 	Secretary

  
 [Five Below - Signature
Page to First Amendment] 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Agent and as a Lender
		
	By:	 	 /s/ Peter
Foley                    

	Name:	 	Peter Foley
	Title:	 	Director

  
 [Five Below - Signature
Page to First Amendment] 

 
			
	PNC BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Michele
Ranieri                    

	Name:	 	Michele Ranieri
	Title:	 	Vice President

  
 [Five Below - Signature
Page to First Amendment] 

 
			
	TRUIST BANK, as a Lender
		
	By:	 	 /s/ Virginia
Singletary                    

	Name:	 	Virginia S. Singletary
	Title:	 	Vice President

  
 [Five Below - Signature
Page to First Amendment] 

 
			
	TD BANK, N.A., as a Lender
		
	By:	 	 /s/ Antimo
Barbieri                    

	Name:	 	Antimo Barbieri
	Title:	 	Vice President

  
 [Five Below - Signature
Page to First Amendment] 

 ANNEX A 

Composite Credit Agreement 

[see attached] 

 [EXECUTION
VERSION]ANNEX A TO FIRST AMENDMENT 

 
  

 
 FIFTH AMENDED AND RESTATED
CREDIT AGREEMENT 
 Dated as of April 24, 2020 

among 
 FIVE BELOW, INC.,

 as the Borrower 
 The
Guarantors Named Herein 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Agent, L/C Issuer and Swing Line Lender, 

and 
 The Other Lenders Party
Hereto 
 TRUIST BANK 
 as
Syndication Agent 
 and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, and 

PNC CAPITAL MARKETS LLC 
 as

 Joint Lead Arrangers and Bookrunners 
  

 
  

 TABLE OF CONTENTS 

 

							
	Section	 	 	  	Page	 
	 ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	
			
	 1.01
	 	 Defined Terms
	  	 	1	
			
	 1.02
	 	 Other Interpretive Provisions
	  	 	58	
			
	 1.03
	 	 Accounting Terms
	  	 	59	
			
	 1.04
	 	 Rounding
	  	 	60	
			
	 1.05
	 	 Times of Day
	  	 	60	
			
	 1.06
	 	 Letter of Credit Amounts
	  	 	60	
			
	 1.07
	 	 Divisions
	  	 	60	
			
	 1.08
	 	 Effect of Benchmark Transition Event
	  	 	60	
		
	 ARTICLE II THE COMMITMENTS AND CREDIT EXTENSIONS
	  	 	61	
			
	 2.01
	 	 Committed Loans; Reserves
	  	 	61	
			
	 2.02
	 	 Borrowings, Conversions and Continuations of Committed Loans
	  	 	62	
			
	 2.03
	 	 Letters of Credit
	  	 	64	
			
	 2.04
	 	 Swing Line Loans
	  	 	74	
			
	 2.05
	 	 Prepayments
	  	 	77	
			
	 2.06
	 	 Termination or Reduction of Commitments
	  	 	78	
			
	 2.07
	 	 Repayment of Loans
	  	 	79	
			
	 2.08
	 	 Interest
	  	 	79	
			
	 2.09
	 	 Fees
	  	 	80	
			
	 2.10
	 	 Computation of Interest and Fees
	  	 	80	
			
	 2.11
	 	 Evidence of Debt
	  	 	81	
			
	 2.12
	 	 Payments Generally; Agent’s Clawback
	  	 	81	
			
	 2.13
	 	 Sharing of Payments by Lenders
	  	 	83	
			
	 2.14
	 	 Settlement Amongst Lenders
	  	 	84	
			
	 2.15
	 	 Increase in Commitments
	  	 	84	
		
	 ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	87	
			
	 3.01
	 	 Taxes
	  	 	87	
			
	 3.02
	 	 Illegality
	  	 	89	
			
	 3.03
	 	 Inability to Determine Rates
	  	 	89	
			
	 3.04
	 	 Increased Costs; Reserves on LIBOR Rate Loans
	  	 	90	
			
	 3.05
	 	 Compensation for Losses
	  	 	91	
			
	 3.06
	 	 Mitigation Obligations; Replacement of Lenders
	  	 	92	
			
	 3.07
	 	 Survival
	  	 	92	

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	Section	 	 	  	Page	 
	 ARTICLE IV CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	 	93	
			
	 4.01
	 	 Conditions of Initial Credit Extension
	  	 	93	
			
	 4.02
	 	 Conditions to all Credit Extensions
	  	 	96	
		
	 ARTICLE V REPRESENTATIONS AND WARRANTIES
	  	 	97	
			
	 5.01
	 	 Existence, Qualification and Power
	  	 	97	
			
	 5.02
	 	 Authorization; No Contravention
	  	 	97	
			
	 5.03
	 	 Governmental Authorization; Other Consents
	  	 	97	 
			
	 5.04
	 	 Binding Effect
	  	 	97	 
			
	 5.05
	 	 Financial Statements; No Material Adverse Effect
	  	 	98	
			
	 5.06
	 	 Litigation
	  	 	98	
			
	 5.07
	 	 No Default
	  	 	98	
			
	 5.08
	 	 Ownership of Property; Liens
	  	 	99	
			
	 5.09
	 	 Environmental Compliance
	  	 	99	
			
	 5.10
	 	 Insurance
	  	 	100	 
			
	 5.11
	 	 Taxes
	  	 	100	 
			
	 5.12
	 	 ERISA Compliance
	  	 	100	 
			
	 5.13
	 	 Subsidiaries; Equity Interests
	  	 	101	
			
	 5.14
	 	 Margin Regulations; Investment Company Act;
	  	 	102	
			
	 5.15
	 	 Disclosure
	  	 	102	
			
	 5.16
	 	 Compliance with Laws
	  	 	102	
			
	 5.17
	 	 Intellectual Property; Licenses, Etc
	  	 	102	 
			
	 5.18
	 	 Labor Matters
	  	 	103	 
			
	 5.19
	 	 Security Documents
	  	 	103	 
			
	 5.20
	 	 Solvency
	  	 	104	 
			
	 5.21
	 	 Deposit Accounts; Credit Card Arrangements
	  	 	104	 
			
	 5.22
	 	 Brokers
	  	 	104	 
			
	 5.23
	 	 Customer and Trade Relations
	  	 	104	 
			
	 5.24
	 	 Material Contracts
	  	 	105	 
			
	 5.25
	 	 Casualty
	  	 	105	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	Section	 	 	  	Page	 
	 5.26
	 	 OFAC/Sanctions
	  	 	105	 
			
	 5.27
	 	 PATRIOT Act
	  	 	105	 
			
	 5.28
	 	 Covered Entities
	  	 	105	 
		
	 ARTICLE VI AFFIRMATIVE COVENANTS
	  	 	106	 
			
	 6.01
	 	 Financial Statements
	  	 	106	 
			
	 6.02
	 	 Certificates; Other Information
	  	 	107	 
			
	 6.03
	 	 Notices
	  	 	109	 
			
	 6.04
	 	 Payment of Obligations
	  	 	110	 
			
	 6.05
	 	 Preservation of Existence, Etc.
	  	 	111	 
			
	 6.06
	 	 Maintenance of Properties
	  	 	111	 
			
	 6.07
	 	 Maintenance of Insurance
	  	 	111	 
			
	 6.08
	 	 Compliance with Laws
	  	 	113	 
			
	 6.09
	 	 Books and Records; Accountants
	  	 	113	 
			
	 6.10
	 	 Inspection Rights
	  	 	113	 
			
	 6.11
	 	 Use of Proceeds
	  	 	114	 
			
	 6.12
	 	 Additional Loan Parties
	  	 	114	 
			
	 6.13
	 	 Cash Management
	  	 	115	 
			
	 6.14
	 	 Information Regarding the Collateral
	  	 	116	 
			
	 6.15
	 	 Physical Inventories
	  	 	117	 
			
	 6.16
	 	 Environmental Laws
	  	 	117	 
			
	 6.17
	 	 Further Assurances
	  	 	117	 
			
	 6.18
	 	 Compliance with Terms of Leaseholds
	  	 	118	 
			
	 6.19
	 	 Material Contracts
	  	 	118	 
			
	 6.20
	 	 OFAC; Sanctions
	  	 	118	 
			
	 6.21
	 	 Post-Closing Matters
	  	 	119	 
		
	 ARTICLE VII NEGATIVE COVENANTS
	  	 	119	 
			
	 7.01
	 	 Liens
	  	 	119	 
			
	 7.02
	 	 Investments
	  	 	119	 
			
	 7.03
	 	 Indebtedness; Disqualified Stock
	  	 	119	 
			
	 7.04
	 	 Fundamental Changes
	  	 	119	
			
	 7.05
	 	 Dispositions
	  	 	120	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	Section	 	 	  	Page	 
	 7.06
	 	 Restricted Payments
	  	 	120	 
			
	 7.07
	 	 Prepayments of Indebtedness
	  	 	121	 
			
	 7.08
	 	 Change in Nature of Business
	  	 	121	 
			
	 7.09
	 	 Transactions with Affiliates
	  	 	121	 
			
	 7.10
	 	 Burdensome Agreements
	  	 	122	 
			
	 7.11
	 	 Use of Proceeds
	  	 	122	 
			
	 7.12
	 	 Amendment of Material Documents
	  	 	122	 
			
	 7.13
	 	 Fiscal Year
	  	 	122	 
			
	 7.14
	 	 Deposit Accounts; Credit Card Processors
	  	 	122	 
			
	 7.15
	 	 Financial Covenant
	  	 	122	 
			
	 7.16
	 	 Sale and Leaseback Transactions
	  	 	123	 
		
	 ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES
	  	 	123	 
			
	 8.01
	 	 Events of Default
	  	 	123	 
			
	 8.02
	 	 Remedies Upon Event of Default
	  	 	126	 
			
	 8.03
	 	 Application of Funds
	  	 	127	 
		
	 ARTICLE IX THE AGENT
	  	 	129	 
			
	 9.01
	 	 Appointment and Authority
	  	 	129	 
			
	 9.02
	 	 Rights as a Lender
	  	 	129	 
			
	 9.03
	 	 Exculpatory Provisions
	  	 	129	 
			
	 9.04
	 	 Reliance by Agent
	  	 	130	 
			
	 9.05
	 	 Delegation of Duties
	  	 	131	 
			
	 9.06
	 	 Resignation of Agent
	  	 	131	 
			
	 9.07
	 	 Non-Reliance on Agent and Other Lenders
	  	 	132	 
			
	 9.08
	 	 [Reserved]
	  	 	132	 
			
	 9.09
	 	 Agent May File Proofs of Claim
	  	 	132	 
			
	 9.10
	 	 Collateral and Guaranty Matters
	  	 	133	 
			
	 9.11
	 	 Notice of Transfer
	  	 	133	 
			
	 9.12
	 	 Reports and Financial Statements
	  	 	133	 
			
	 9.13
	 	 Agency for Perfection
	  	 	134	 
			
	 9.14
	 	 Indemnification of Agent
	  	 	135	 
			
	 9.15
	 	 Relation among Lenders
	  	 	135	 
			
	 9.16
	 	 Defaulting Lenders
	  	 	135	 
			
	 9.17
	 	 Secured Cash Management Services and Secured Bank Products
	  	 	138	 

  
 -iv- 

 TABLE OF CONTENTS 

(continued) 
  

							
	Section	 	 	  	Page	 
	 ARTICLE X MISCELLANEOUS
	  	 	139	 
			
	 10.01
	 	 Amendments, Etc.
	  	 	139	 
			
	 10.02
	 	 Notices; Effectiveness; Electronic Communications
	  	 	141	 
			
	 10.03
	 	 No Waiver; Cumulative Remedies
	  	 	143	 
			
	 10.04
	 	 Expenses; Indemnity; Damage Waiver
	  	 	143	 
			
	 10.05
	 	 Payments Set Aside
	  	 	145	 
			
	 10.06
	 	 Successors and Assigns
	  	 	145	 
			
	 10.07
	 	 Treatment of Certain Information; Confidentiality
	  	 	149	 
			
	 10.08
	 	 Right of Setoff
	  	 	150	 
			
	 10.09
	 	 Interest Rate Limitation
	  	 	150	 
			
	 10.10
	 	 Counterparts; Integration; Effectiveness
	  	 	150	 
			
	 10.11
	 	 Survival
	  	 	151	 
			
	 10.12
	 	 Severability
	  	 	151	 
			
	 10.13
	 	 Replacement of Lenders
	  	 	151	
			
	 10.14
	 	 Governing Law; Jurisdiction; Etc.
	  	 	152	 
			
	 10.15
	 	 Waiver of Jury Trial
	  	 	153	 
			
	 10.16
	 	 No Advisory or Fiduciary Responsibility
	  	 	153	
			
	 10.17
	 	 USA PATRIOT Act Notice
	  	 	154	 
			
	 10.18
	 	 Foreign Asset Control Regulations
	  	 	154	
			
	 10.19
	 	 Time of the Essence
	  	 	155	 
			
	 10.20
	 	 Press Releases
	  	 	155	 
			
	 10.21
	 	 Additional Waivers
	  	 	155	
			
	 10.22
	 	 No Strict Construction
	  	 	157	 
			
	 10.23
	 	 Attachments
	  	 	157	 
			
	 10.24
	 	 Keepwell
	  	 	157	 
			
	 10.25
	 	 Acknowledgment and Consent to Bail-In of EEA Financial
Institutions
	  	 	158	 
			
	 10.26
	 	 Acknowledgement Regarding Any Supported QFCs
	  	 	158	

  
 -v- 

			
	 SCHEDULES

		
	 2.01
	 	         Commitments and Applicable
Percentages

	 6.02
	 	         Financial and Collateral Reporting

	 10.02
	 	         Agent’s Office; Certain Addresses for
Notices

	
	 EXHIBITS

		
		 	 Form of

		
	 A
	 	 LIBOR Rate Loan Notice

	 B
	 	 Swing Line Loan Notice

	 C-1
	 	 Note

	 C-2
	 	 Swing Line Note

	 D
	 	 Compliance Certificate

	 E
	 	 Assignment and Assumption

	 F
	 	 Borrowing Base Certificate

	 G
	 	 Credit Card Notification

 FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

This FIFTH AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of April 24, 2020, among 

FIVE BELOW, INC., a Pennsylvania corporation (the “Borrower”), 

1616 HOLDINGS, INC., a Pennsylvania corporation (the “Guarantor”), 

each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Agent, L/C Issuer and Swing Line Lender. 

WHEREAS, the Borrower, Wells Fargo Bank, National Association, as lender, and certain other parties are party to a Fourth Amended and Restated
Loan and Security Agreement, dated as of May 10, 2017 (as amended, restated, amended and restated, supplemented, extended or otherwise modified from time to time prior to the date hereof, the “Existing Credit Agreement”),
pursuant to which the lenders party thereto provided the Borrower with certain financial accommodations; 
 WHEREAS, the Loan Parties have
requested that the Agent and the Lenders enter into this Agreement, to among other things, extend credit to the Borrower pursuant to a revolving credit facility in an initial aggregate principal amount of up to $225,000,000, including the issuance
of Letters of Credit, on the terms and conditions set forth herein; and 
 WHEREAS, this Agreement and the Security Agreement (as defined
below), collectively, amend and restate the Existing Credit Agreement, as provided herein and therein; 
 NOW THEREFORE, in consideration of
the mutual covenants and agreements herein contained, the parties hereto covenant and agree that the Existing Credit Agreement shall be amended and restated in its entirety as follows and as set forth in the Security Agreement (it being agreed that
neither this Agreement nor the Security Agreement shall be deemed to evidence or result in a novation or repayment and reborrowing of the Obligations under, and as defined in, the Existing Credit Agreement): 

ARTICLE I 
 DEFINITIONS
AND ACCOUNTING TERMS 
 1.01    Defined Terms. As used in this Agreement, the following terms shall have the
meanings set forth below: 
 “Acceptable Document of Title” means, with respect to any Inventory, a tangible, negotiable bill of
lading or other Document (as defined in the UCC) that (a) is issued by a common carrier which is not an Affiliate of the Approved Foreign Vendor or any Loan Party which is in actual possession of such Inventory, (b) is issued to the order
of a Loan Party or, if so requested by the Agent, to the order of the Agent, (c) names the Agent as a notify party and bears a 

 
conspicuous notation on its face of the Agent’s security interest therein, (d) is not subject to any Lien (other than in favor of the Agent and Liens and permitted under clauses (a),
(b) and (o) of the definition of Permitted Encumbrances), and (e) is on terms otherwise reasonably acceptable to the Agent. 

“ACH” means automated clearing house transfers. 

“Accommodation Payment” as defined in Section 10.21(d). 

“Account” means “accounts” as defined in the UCC, and also means a right to payment of a monetary obligation, whether or
not earned by performance, (a) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (b) for services rendered or to be rendered, (c) for a policy of insurance issued or to be issued,
(d) for a secondary obligation incurred or to be incurred, (e) for energy provided or to be provided, (f) for the use or hire of a vessel under a charter or other contract, (g) arising out of the use of a credit or charge card or
information contained on or for use with the card, or (h) as winnings in a lottery or other game of chance operated or sponsored by a state, governmental unit of a state, or person licensed or authorized to operate the game by a state or
governmental unit of a state. The term “Account” includes health-care-insurance receivables. 
 “Acquisition” means,
with respect to any Person (a) an investment in, or a purchase of, a Controlling interest in the Equity Interests of any other Person, (b) a purchase or other acquisition of all or substantially all of the assets or properties of, another
Person or of any business unit, division or line of business of another Person, (c) any merger or consolidation of such Person with any other Person or other transaction or series of transactions resulting in the acquisition of all or
substantially all of the assets, or of any business unit, division or line of business of another Person, or a Controlling interest in the Equity Interests, of any Person, or (d) any acquisition of all or substantially all store locations of
any Person, in each case in any transaction or group of transactions which are part of a common plan. 
 “Additional Commitment
Lender” shall have the meaning provided in Section 2.15(iii). 
 “Adjustment Date” means the first
day of each Fiscal Quarter, commencing May 3, 2020. 
 “Administrative Questionnaire” means an Administrative Questionnaire
in a form supplied by the Agent. 
 “Affiliate” means, with respect to any Person, (i) another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified, (ii) any director, officer, managing member, partner, trustee, or beneficiary of that Person, (iii) any other
Person directly or indirectly holding 10% or more of any class of the Equity Interests of that Person, and (iv) any other Person 10% or more of any class of whose Equity Interests is held directly or indirectly by that Person. 

“Agent” means Wells Fargo in its capacity as administrative agent and collateral agent under any of the Loan Documents, or any
successor thereto. 

  
 2 

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

“Agent Parties” shall have the meaning specified in Section 10.02(c). 

“Aggregate Commitments” means the Commitments of all the Lenders. As of the Closing Date, the Aggregate Commitments are
$225,000,000. 
 “Agreement” means this Credit Agreement. 

“Allocable Amount” has the meaning specified in Section 10.21(d). 

“Anti-Corruption Laws” means the FCPA, the U.K. Bribery Act of 2010, as amended, and all other applicable laws and regulations or
ordinances concerning or relating to bribery, money laundering or corruption in any jurisdiction in which any Loan Party or any of its Subsidiaries or Affiliates is located or is doing business. 

“Anti-Money Laundering Laws” means the applicable laws or regulations in any jurisdiction in which any Loan Party or any of its
Subsidiaries or Affiliates is located or is doing business that relates to money laundering, any predicate crime to money laundering, or any financial record keeping and reporting requirements related thereto. 

“Applicable Margin” means: 

(a)    From and after the Closing Date until the first Adjustment Date, the percentages set forth in Level
I of the pricing grid below; and 
 (b)    From and after the first Adjustment Date and on each
Adjustment Date thereafter, the Applicable Margin shall be determined from the following pricing grid based upon Average Daily Availability for the Fiscal Quarter ended immediately preceding such Adjustment Date; provided that if any
Borrowing Base Certificates are at any time restated or otherwise revised (including as a result of an audit) or if the information set forth in any Borrowing Base Certificates otherwise proves to be false or incorrect such that the Applicable
Margin would have been higher than was otherwise in effect during any period, without constituting a waiver of any Default or Event of Default arising as a result thereof, interest due under this Agreement shall be immediately recalculated at such
higher rate for any applicable periods and shall be due and payable on demand. 
  

															
	 Level
	  	 Average Daily

Availability
	  	LIBOR
Margin	 	 	Base Rate
Margin	 	 	Letter of
Credit Fee	 
	 I
	  	350 66% of the Loan Cap	  	 	2.00	%1.25% 	 	 	1.00	%0.25% 	 	 	2.00	%1.25% 
	 II
	  	<503
 33% of the Loan Cap but less then 66%	  	 	2.25	%1.50% 	 	 	1.25	%0.50% 	 	 	2.25	%1.50% 
	
III
	  	< 33% of the Loan Cap	  	 	1.75	% 	 	 	0.75	% 	 	 	1.75	% 

  
 3 

 “Applicable Percentage” means with respect to any Lender at any time, the
percentage (carried out to the ninth decimal place) of the Aggregate Commitments represented by such Lender’s Commitment at such time. If the commitment of each Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit
Extensions have been terminated pursuant to Section 8.02 or if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be determined based on the Applicable Percentage of such Lender most
recently in effect, giving effect to any subsequent assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender
becomes a party hereto, as applicable. 
 “Appraised Value” means with respect to Eligible Inventory, the appraised orderly
liquidation value, net of costs and expenses to be incurred in connection with any such liquidation, which value is expressed as a percentage of Cost of Eligible Inventory as set forth in the inventory stock ledger of the Borrower, which value shall
be determined from time to time by the most recent appraisal undertaken by an independent appraiser engaged by the Agent. 
 “Approved
Foreign Vendor” means a Foreign Vendor which (a) is located in any country acceptable to the Agent in its Permitted Discretion, (b) has received timely payment or performance of all obligations owed to it by the Loan Parties,
(c) has not asserted and has no right to assert any reclamation, repossession, diversion, stoppage in transit, Lien or title retention rights in respect of such Inventory, and (d), if so requested by the Agent, has entered into and is in full
compliance with the terms of a Foreign Vendor Agreement. 
 “Approved Fund” means any Person (other than a natural person) that is
(or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of
a Lender, (c) an entity or an Affiliate of an entity that administers or manages a Lender or (d) the same investment advisor or an advisor under common control with such Lender, Affiliate or advisor, as applicable. 

“Arranger” means each of Wells Fargo and PNC Capital Markets LLC, in their capacities as joint lead arrangers and book managers.

 “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 entered into by a Lender and an
Eligible Assignee (with the consent of any party whose consent is required by Section 10.06(b)), and accepted by the Agent, in substantially the form of Exhibit E or any other form approved by the Agent. 

“Attributable Indebtedness” shall mean, when used with respect to any Sale and Leaseback Transaction by any Loan Party, as at the
time of determination, the present value (discounted at a rate equivalent to such Loan Party’s then-current weighted average cost of funds for borrowed money as at the time of determination, compounded on a semi-annual basis) of the total
obligations of the lessee for rental payments (and substantially similar payments) during the remaining term of the lease included in any such Sale and Leaseback Transaction. 

  
 4 

 “Audited Financial Statements” means the audited consolidated balance sheet of the
Borrower and its Subsidiaries for the Fiscal Year ended February 1, 2020, and the related consolidated statements of income or operations, Shareholders’ Equity and cash flows for such Fiscal Year of the Borrower and its Subsidiaries,
including the notes thereto. 
 “Availability” means, as of any date of determination thereof by the Agent, the result, if a
positive number, of: 
 (a)    The Loan Cap 

Minus 

(b)    The Total Outstandings. 

“Availability Period” means the period from and including the Closing Date to the earliest of (a) the Maturity Date,
(b) the date of termination of the Aggregate Commitments pursuant to Section 2.06, and (c) the date of termination of the commitment of each Lender to make Loans and of the obligation of the L/C Issuer to make L/C
Credit Extensions pursuant to Section 8.02. 
 “Availability Reserves” means, without duplication of any
other Reserves or items to the extent such items are otherwise addressed or excluded through eligibility criteria, such reserves as the Agent from time to time determines in its Permitted Discretion as being appropriate (a) to reflect the
impediments to the Agent’s ability to realize upon the Collateral, (b) to reflect claims and liabilities that the Agent determines will need to be satisfied in connection with the realization upon the Collateral, (c) to reflect
criteria, events, conditions, contingencies or risks which adversely affect any component of the Borrowing Base, or the assets, business, financial performance or financial condition of any Loan Party, or (d) to reflect that a Default an Event
of Default then exists. Without limiting the generality of the foregoing, Availability Reserves may include, in the Agent’s Permitted Discretion, (but are not limited to) reserves based on: (i) rent; (ii) customs duties, and other costs to
release Inventory which is being imported into the United States; (iii) outstanding Taxes and other governmental charges, including, without limitation, ad valorem, real estate, personal property, sales, claims of the PBGC and other Taxes which
may have priority over the interests of the Agent in the Collateral; (iv) salaries, wages and benefits due to employees of the Borrower, (v) customer credit liabilities consisting of the aggregate remaining value at such time of
(a) outstanding gift certificates and gift cards of the Borrower entitling the holder thereof to use all or a portion of the certificate or gift card to pay all or a portion of the purchase price for any Inventory, (b) outstanding
merchandise credits of the Borrower, and (c) liabilities in connection with frequent shopping programs of the Borrower, (vi) deposits made by customers with respect to the purchase of goods or the performance of services and layaway
obligations of the Borrower, (vii) reserves for reasonably anticipated changes in the Appraised Value of Eligible Inventory between appraisals, (viii) warehousemen’s or bailee’s charges and other Permitted Encumbrances which may
have priority over the interests of the Agent in the Collateral, (ix) amounts due to vendors on account of consigned goods, (x) Cash Management Reserves, (xi) Bank Products Reserves, (xii) royalties payable in respect of licensed
merchandise, 

  
 5 

 
and (xiii) for the period commencing April 1, 2020, monthly rental payments that are due but have not been made for each Store that is temporarily closed as a result of the COVID-19 pandemic unless (a) the landlord of such Store has agreed to an abatement of rent payments, deferral of rent payments, payback period for delayed rent payments, or any other similar arrangement (which
other similar arrangement is satisfactory to the Agent in its Permitted Discretion), or (b) it has been agreed by the landlord, or determined by a court or other authority of competent jurisdiction, that such rental payments for a Store are not
owing to landlord for the subject period (due to force majeure, impossibility, frustration of purpose or any other reason); provided further that all Availability Reserves (including the amount of such Availability Reserves) shall bear
a reasonable relationship to the events, conditions or circumstances that are the basis for each such Availability Reserve. So long as no Event of Default has occurred and is continuing Agent shall provide the Borrower with no less than three
(3) Business Days’ prior notice of any intended imposition of, or increase in, the Availability Reserves (other than increases resulting solely from fluctuations in the amount of the items reserved for) and will be available to consult
with the Borrower in connection with the basis for such imposition or increase of Availability Reserves; provided that (i) no such prior notice shall be required for changes to any Availability Reserves resulting solely by virtue of
mathematical calculations of the amount of the Availability Reserves in accordance with the methodology of calculation previously used and (ii) upon such notice, the Borrower will not be permitted to borrow so as to exceed the Borrowing Base
after giving effect to such new or modified Reserves. For the avoidance of doubt, it is acknowledged and agreed that any Reserves made pursuant to more than one clause above shall be made without duplication. 

“Average Daily Availability” means, for any Fiscal Quarter, an amount equal to the sum of Availability for each day of such Fiscal
Quarter divided by the actual number of days in such Fiscal Quarter, as determined by the Agent, which determination shall be conclusive absent manifest error. 

“Average Monthly Unused Percentage” means, for any Fiscal Month, the result of (x) 100% minus
(y) the
 amount (expressed as a percentage) equal to (a) the average daily Total Outstandings during such Fiscal Month, divided by (b) the amount of the Aggregate Commitments. 

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

“Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55
of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation
Schedule. 
 “Bank Products” means any services of facilities provided to any Loan Party by a Lender or any of its Affiliates (but
excluding Cash Management Services) including, without limitation, on account of (a) Swap Contracts, (b) merchant services constituting a line of credit, (c) leasing, (d) Factored Receivables which the Borrower has agreed in writing
are to constitute Bank Products hereunder, (e) supply chain finance services including, without limitation, trade payable services and supplier accounts receivable purchases, in each case, which the Borrower has agreed in writing are to
constitute Bank Products hereunder, and (f) commercial equipment financing and leasing, including vendor finance and chattel paper purchases and syndication. 

  
 6 

 “Bank Products Reserves” means such reserves as the Agent from time to time
determines in its Permitted Discretion as being appropriate to reflect the liabilities and obligations of the Loan Parties with respect to Bank Products then provided or outstanding. 

“Base Rate” means, for any day, a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1⁄2%, (b) the LIBOR Rate (which rate shall be calculated based upon an Interest Period of one month and shall be determined on a daily basis), plus one percentage point,
and (c) the rate of interest announced, from time to time, within Wells Fargo at its principal office in San Francisco as its “prime rate”, with the understanding that the “prime rate” is one of Wells Fargo’s base rates
(not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto and is evidenced by the recording thereof after its announcement in such internal
publications as Wells Fargo may designate (and, if any such announced rate is below zero, then the rate determined pursuant to this clause (c) shall be deemed to be zero). 

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

“Benchmark Replacement” means the sum of: (a) the alternate benchmark rate (which may include Term SOFR) that has been selected
by Agent and Borrower giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market
convention for determining a rate of interest as a replacement to the LIBOR Rate for United States dollar-denominated syndicated credit facilities
(and, if any such published rate is below zero, then the rate determined pursuant to this clause (ii) shall
 be deemed to be zero) and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark
Replacement as so determined would be less than 0.50%, the Benchmark Replacement shall be deemed to be 0.50% for the purposes of this Agreement. 

“Benchmark Replacement Adjustment” means, with respect to any replacement of the LIBOR Rate with an Unadjusted Benchmark Replacement
for each applicable Interest Period, 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 Agent and Borrower giving due consideration to
(i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the LIBOR Rate with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental
Body or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the LIBOR Rate with the applicable Unadjusted Benchmark
Replacement for United States dollar-denominated syndicated credit facilities at such time. 
 “Benchmark Replacement Conforming
Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate”, the definition of “Interest Period”, timing and frequency
of determining rates and making payments of interest and other administrative matters) that Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by Agent
in a manner substantially consistent with market practice (or, if Agent decides that adoption of any portion of such market practice is not 

  
 7 

 
administratively feasible or if Agent determines that no market practice for the administration of the Benchmark Replacement exists, in such other manner of administration as Agent decides is
reasonably necessary in connection with the administration of this Agreement). 
 “Benchmark Replacement Date” means the earlier
to occur of the following events with respect to the LIBOR Rate: 
 (a)    in the case of clause (a) or (b) of the
definition of “Benchmark Transition Event,” the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of the LIBOR Rate permanently or
indefinitely ceases to provide the LIBOR Rate; or 
 (b)    in the case of clause (c) of the definition of
“Benchmark Transition Event,” the date of the public statement or publication of information referenced therein. 

“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the LIBOR Rate: 

(a)    a public statement or publication of information by or on behalf of the administrator of the LIBOR Rate announcing
that such administrator has ceased or will cease to provide the LIBOR Rate, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBOR Rate;

 (b)    a public statement or publication of information by the regulatory supervisor for the administrator of the
LIBOR Rate, the Federal Reserve System of the United States (or any successor), an insolvency official with jurisdiction over the administrator for the LIBOR Rate, a resolution authority with jurisdiction over the administrator for the LIBOR Rate or
a court or an entity with similar insolvency or resolution authority over the administrator for the LIBOR Rate, which states that the administrator of the LIBOR Rate has ceased or will cease to provide the LIBOR Rate permanently or indefinitely,
provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBOR Rate; or 

(c)    a public statement or publication of information by the regulatory supervisor for the administrator of the LIBOR
Rate announcing that the LIBOR Rate is no longer representative. 
 “Benchmark Transition Start Date” means (a) in the case
of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the 90th day prior to the
expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication) and
(b) in the case of an Early Opt-in Election, the date specified by Agent or the Required Lenders, as applicable, by notice to Borrower, Agent (in the case of such notice by the Required Lenders) and the
Lenders. 
 “Benchmark Unavailability Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date
have occurred with respect to the LIBOR Rate and solely to the extent that the LIBOR Rate has not been replaced with a Benchmark Replacement, the period (x) beginning at the time that such Benchmark Replacement Date has occurred if, at such
time, no 

  
 8 

 
Benchmark Replacement has replaced the LIBOR Rate for all purposes hereunder in accordance with Section 1.08 and (y) ending at the time that a Benchmark Replacement
has replaced the LIBOR Rate for all purposes hereunder pursuant to Section 1.08. 
 “Beneficial Ownership
Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation. 

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

“Blocked Account” has the meaning provided in Section 6.13(a)(ii). 

“Blocked Account Agreement” means with respect to an account established by a Loan Party, an agreement, in form and substance
reasonably satisfactory to the Agent, establishing control, pursuant to Section 9-104 of the UCC or other applicable section of the UCC, of such account by the Agent and whereby the bank maintaining such
account agrees, upon the occurrence and during the continuance of a Cash Dominion Event, to comply only with the instructions originated by the Agent without the further consent of any Loan Party. 

“Blocked Account Bank” means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from
one or more DDAs are concentrated (which, as of the Closing Date, are identified on Schedule 5.21(a) to the Disclosure Letter), and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms
hereof. 
 “Borrower” has the meaning specified in the introductory paragraph hereto. 

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

“Borrowing” means a Committed Borrowing or a Swing Line Borrowing, as the context may require. 

“Borrowing Base” means,
(i) at any time of calculation (except from the Deferred Diligence Period Start Date until the Diligence Delivery Date), an amount equal to: 
 (a)    the face amount of Eligible
Credit Card Receivables multiplied by the Credit Card Advance Rate; 
 plus 

(b)    the Cost of Eligible Inventory, net of Inventory Reserves, multiplied by the product of the
Inventory Advance Rate multiplied by the Appraised Value of Eligible Inventory; 
 minus  

(c)    the then amount of all Availability Reserves; 

  
 9 

 provided that, until the date that the Agent has received a reasonably satisfactory
Inventory appraisal and commercial finance examination with respect to the Loan Parties, the Borrowing Base shall be equal to the sum of (i) the face amount of Eligible Credit Card Receivables multiplied by the Credit Card Advance Rate, plus
(ii) 50% of the book value of Eligible Inventory, minus (iii) the then amount of all Availability Reserves; provided, further, that except as otherwise agreed by the Agent, if such Inventory appraisal and commercial finance examination has not
commenced within 90 days (which such period may be extended for an additional 30 days in the Agent’s sole discretion) of the Closing Date, the Borrowing Base shall thereafter be equal to $0; 

and
(ii) from
 the Deferred Diligence Period Start Date through and including the Diligence Delivery Date, 

(a)    the
 face amount of Eligible Credit Card Receivables multiplied by the Credit Card Advance Rate; 

plus
 

(b)    the
 Cost of Eligible Inventory, net of Inventory Reserves, multiplied by the Deferred Diligence Period Inventory Advance Rate multiplied by the Appraised Value of Eligible Inventory; 

minus
 
 (c)    the then amount of all Availability Reserves.

 “Borrowing Base Certificate” means a certificate substantially in the form of Exhibit F hereto (with such changes
therein as may be required by the Agent to reflect the components of and reserves against the Borrowing Base as provided for hereunder from time to time), executed and certified as accurate and complete by a Responsible Officer of the Borrower,
which shall include appropriate exhibits, schedules, supporting documentation, and additional reports as reasonably requested by the Agent. 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the
Laws of, or are in fact closed in, the state where the Agent’s Office is located and, if such day relates to any LIBOR Rate Loan, means any such day on which dealings in Dollar deposits are conducted by and between banks in the London interbank
market. 
 “Capital Expenditures” means, with respect to any Person for any period, (a) all expenditures made (whether made
in the form of cash or other property) or costs incurred for the acquisition or improvement of fixed or capital assets of such Person (excluding normal replacements and maintenance which are properly charged to current operations), in each case that
are (or should be) set forth as capital expenditures in a Consolidated statement of cash flows of such Person for such period, in each case prepared in accordance with GAAP, and (b) Capital Lease Obligations incurred by a Person during such
period. 

  
 10 

 “Capital Lease Obligations” means, with respect to any Person for any period, the
obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as
finance leases on a balance sheet of such Person under GAAP and the amount of which obligations shall be the capitalized amount thereof determined in accordance with GAAP. 

“Cash Collateral Account” means a non-interest bearing account established by one or more of
the Loan Parties with Wells Fargo, and in the name of, the Agent (or as the Agent shall otherwise direct) and under the sole and exclusive dominion and control of the Agent, in which deposits are required to be made in accordance with
Section 2.03(k) or 8.02(c). 
 “Cash Collateralize” has the meaning specified in
Section 2.03(k). Derivatives of such term have corresponding meanings. 
 “Cash Dominion Event” means
either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrower to maintain Availability of at least 15% of the Loan Cap. For purposes of this Agreement, the occurrence of a Cash Dominion Event shall
be deemed continuing at the Agent’s option (i) so long as such Event of Default has not been waived, and/or (ii) if the Cash Dominion Event arises as a result of the Borrower’s failure to achieve Availability as required
hereunder, until Availability has exceeded 15% of the Loan Cap for sixty (60) consecutive calendar days, in which case a Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that after a
Cash Dominion Event has occurred and been discontinued on two (2) occasions after the Closing Date, any subsequent Cash Dominion Event shall be deemed continuing at the Agent’s option even if an Event of Default is no longer continuing
and/or Availability exceeds the required amount for sixty (60) consecutive calendar days. The termination of a Cash Dominion Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Cash Dominion Event in
the event that the conditions set forth in this definition again arise. 
 “Cash Management Reserves” means such reserves as the
Agent, from time to time, determines in its Permitted Discretion as being appropriate to reflect the reasonably anticipated liabilities and obligations of the Loan Parties with respect to Cash Management Services then provided or outstanding. 

“Cash Management Services” means any cash management services or facilities provided to any Loan Party by a Lender or any of its
Affiliates, including without limitation, Wells Fargo Merchant Services, L.L.C., including, without limitation: (a) ACH transactions, (b) controlled disbursement services, treasury, depository, overdraft, and electronic funds transfer
services, (c) credit or debit cards, (d) any services related to the acceptance and/or processing of payment cards or devices, (e) purchase cards, and (f) print services. 

“Casualty Event” has the meaning set forth in Section 5.25. 

“CERCLA” means the Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C. § 9601 et seq. 

  
 11 

 “CERCLIS” means the Comprehensive Environmental Response, Compensation, and
Liability Information System maintained by the United States Environmental Protection Agency. 
 “CFC” means a controlled foreign
corporation (as that term is defined in the Code) in which any Loan Party is a “United States shareholder” within the meaning of Section 951(b) of the Code. 

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

(a)    any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of
the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the
“beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have
“beneficial ownership” of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time (such right, an “option right”)), directly or
indirectly, of 25% or more of the Equity Interests of the Borrower entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted basis (and taking into account all such Equity Interests that
such “person” or “group” has the right to acquire pursuant to any option right); 
 (b)
    during any period of 12 consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Borrower cease to be composed of individuals (i) who were members of that board or
equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election
or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above
constituting at the time of such election or nomination at least a majority of that board or equivalent governing body; or 

  
 12 

 (c)    any “change in control” or
“sale” or “disposition” or similar event as defined in any Organizational Document of any Loan Party or in any document governing Material Indebtedness of any Loan Party; or 

(d)    the Borrower fails at any time to own, directly or indirectly, 100% of the Equity Interests of each
other Loan Party free and clear of all Liens (other than the Liens in favor of the Agent), except where such failure is as a result of a transaction permitted by the Loan Documents. 

“Closing Date” means the first date all the conditions precedent in Section 4.01 are satisfied or waived
in accordance with Section 10.01. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral” means any and all “Collateral” as defined in any applicable Security Document and all other property that is
or is intended under the terms of the Security Documents to be subject to Liens in favor of the Agent. 
 “Collateral Access
Agreement” means an agreement reasonably satisfactory in form and substance to the Agent executed by (a) a bailee or other Person in possession of Collateral, and (b) any landlord of Real Estate leased by any Loan Party, pursuant to
which such Person (i) acknowledges the Agent’s Lien on the Collateral, (ii) releases or subordinates such Person’s Liens in the Collateral held by such Person or located on such Real Estate, (iii) provides the Agent with
access to the Collateral held by such bailee or other Person or located in or on such Real Estate, (iv) as to any landlord, provides the Agent with a reasonable time to sell and dispose of the Collateral from such Real Estate, and
(v) makes such other agreements with the Agent as the Agent may reasonably require. 
 “Commercial Letter of Credit” means
any Letter of Credit issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party. 

“Commercial Letter of Credit Agreement” means the Commercial Letter of Credit Agreement relating to the issuance of a Commercial
Letter of Credit in the form from time to time in use by the L/C Issuer. 
 “Commitment” means, as to each Lender, its obligation
to (a) make Committed Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any
one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from
time to time in accordance with this Agreement. 
 “Commitment Increases” has the meaning specified in
Section 2.15(i). 
 “Committed Borrowing” means a borrowing consisting of simultaneous Committed Loans
of the same Type and, in the case of LIBOR Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01. 

  
 13 

 “Committed Loan” has the meaning specified in
Section 2.01. 
 “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. 
 “Compliance Certificate” means a certificate substantially in the form
of Exhibit D. 
 “Concentration Account” has the meaning provided in Section 6.13(d). 

“Consent” means actual consent given by a Lender from whom such consent is sought. 

“Consolidated” means, when used to modify a financial term, test, statement, or report of a Person, the application or preparation
of such term, test, statement or report (as applicable) based upon the consolidation, in accordance with GAAP, of the financial condition or operating results of such Person and its Subsidiaries. 

“Consolidated Cash Balance” means at any time, (a) the aggregate amount of cash and cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds,
commercial paper and cash equivalents, in each case, held or owned by (either directly or indirectly), credited to the account of or would otherwise be required to be reflected as an asset on the balance sheet of the Borrower and its
Subsidiaries; provided that this clause (a) shall not include investments expiring on or before March 31, 2021
and set forth on Schedule 1.01 to the
Disclosure Letter, less (b) the sum of (i) any restricted cash or cash equivalents to pay royalty obligations,
working interest obligations, suspense payments, severance taxes, payroll, payroll taxes, other taxes, employee wage and benefit payments and trust and fiduciary obligations or other obligations of the Borrower or any Subsidiary to third parties and
for which the Borrower or such Subsidiary has issued checks or has initiated wires or ACH transfers (or, in the Borrower’s discretion, will issue checks or initiate wires or ACH transfers within five
(5) business days) in order to pay,
(ii) other amounts for which the Borrower or
such Subsidiary has issued checks or has initiated wires or ACH transfers but have not yet been subtracted from the balance in the relevant account of the Borrower or such Subsidiary and (iii) while and to the extent refundable, any cash or cash equivalents of
the Borrower or any Subsidiaries constituting purchase price deposits held in escrow pursuant to a binding and enforceable purchase and sale agreement with a third party containing customary provisions regarding the payment and refunding of such
deposit. 
 “Consolidated EBITDA” means, at any date of
determination, an amount equal to Consolidated Net Income of the Borrower and its Subsidiaries on a Consolidated basis for the most recently completed Measurement Period, plus (a) the following to the extent deducted in calculating such
Consolidated Net Income: (i) Consolidated Interest Charges, (ii) the provision for Federal, state, local and foreign income Taxes, (iii) depreciation and amortization expense and other non-cash
charges that were deducted in the calculation of Consolidated Net Income for such period, (iv) stock based compensation expense (which does not represent a cash item in such period or any future period), mark to market adjustments in respect of
derivatives, and write offs, write downs or other impairment of long lived assets, (v) one-time extraordinary, non-recurring or unusual cash items in an amount not
to exceed, together with clause (vii) below, 10% of Consolidated EBITDA, and related taxes thereon, (vi) one-time transaction fees, costs and 

  
 14 

 
expenses incurred in connection with any issuances of Equity Interests, Investments, Acquisitions, Dispositions, mergers and other reorganizations, or the incurrence, refinancing, or modification
of Indebtedness or similar transactions, in each case to the extent permitted hereunder; (vii) costs, charges, accruals, reserves or expenses attributable to the undertaking and/or implementation of reorganizations, cost savings initiatives,
operating expense reductions and similar initiatives in an amount not to exceed, together with clause (v) above, 10% of Consolidated EBITDA; minus (b) the following to the extent included in calculating such Consolidated Net Income:
(i) Federal, state, local and foreign income tax credits and (ii) all non-cash items increasing Consolidated Net Income (in each case of or by Borrower and its Subsidiaries for such Measurement
Period), all as determined on a Consolidated basis in accordance with GAAP. Notwithstanding the foregoing, Consolidated EBITDA in any Measurement Period shall include the Consolidated EBITDA on a pro forma basis for such Measurement Period of each
Person (or business unit, division or group of such Person) that is acquired by a Loan Party during such Measurement Period; provided that, in respect of an Acquisition, the pro forma information shall include the historical financial results of the
acquired Person on a pro forma basis for the most recently completed Measurement Period, and shall assume that the consummation of such Acquisition accrued on the first day of such Measurement Period. 

“Consolidated Fixed Charge Coverage Ratio” means, at any date of determination, the ratio of (a) (i) Consolidated EBITDA for
such period minus (ii) Non-Financed Capital Expenditures made during such period minus (iii) the aggregate amount of Federal, state, local and foreign income taxes paid in cash during such period to
(b) the sum of (i) Debt Service Charges plus (ii) the aggregate amount of all Restricted Payments, in each case, of or by the Borrower and its Subsidiaries for the most recently completed Measurement Period, all as determined on a
Consolidated basis in accordance with GAAP. 
 “Consolidated Interest Charges” means, for any Measurement Period, the sum of
(a) all interest, premium payments, debt discount, fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent
treated as interest in accordance with GAAP, including, without limitation, all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs under Swap Contracts, but
excluding any non-cash or deferred interest financing costs, (b) all interest paid or payable with respect to discontinued operations and (c) the portion of rent expense with respect to such period
under Capital Lease Obligations that is treated as interest in accordance with GAAP, in each case of or by the Borrower and its Subsidiaries for the most recently completed Measurement Period, all as determined on a Consolidated basis in accordance
with GAAP. 
 “Consolidated Net Income” means, as of any date of determination, the net income of the Borrower and its
Subsidiaries for the most recently completed Measurement Period, all as determined on a Consolidated basis in accordance with GAAP, provided, however, that there shall be excluded therefrom (a) extraordinary gains and extraordinary losses for
such Measurement Period, (b) the income (or loss) of such Person during such Measurement Period in which any other Person has a joint interest, except to the extent of the amount of cash dividends or other distributions actually paid in cash to
such Person during such period, (c) the income (or loss) of such Person during such Measurement Period and accrued prior to the date it becomes a Subsidiary of a Person or any of such Person’s Subsidiaries or is merged into or consolidated
with a Person 

  
 15 

 
or any of its Subsidiaries or that Person’s assets are acquired by such Person or any of its Subsidiaries, and (d) the income of any direct or indirect Subsidiary of a Person to the
extent that the declaration or payment of dividends or similar distributions by that Subsidiary of that income is not at the time permitted by operation of the terms of its Organization Documents or any agreement, instrument, judgment, decree,
order, statute, rule or governmental regulation applicable to that Subsidiary, except that the Borrower’s equity in any net loss of any such Subsidiary for such Measurement Period shall be included in determining Consolidated Net Income. 

“Contractual Obligation” means, as to any Person, any provision of any agreement, instrument or other undertaking to which such
Person is a party or by which it or any of its property is bound. 
 “Control” means the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Cost” means the lower of cost or market value of Inventory, based upon the Borrower’s accounting practices,
known to the Agent, which practices are in effect on the Closing Date as such calculated cost is determined from invoices received by the Borrower, the Borrower’s purchase journals or the Borrower’s stock ledger. 

“Credit Card Advance Rate” means 90%. 

“Credit Card Agreements” has the meaning set forth in Section 5.21(b). 

“Credit Card Issuer” shall mean any person (other than a Borrower or other Loan Party) who issues or whose members issue credit
cards, including, without limitation, MasterCard or VISA bank credit cards or other bank credit cards issued through MasterCard International, Inc., Visa, U.S.A., Inc. or Visa International and American Express, Discover, Diners Club, Carte Blanche
and other non-bank credit cards, including, without limitation, credit cards issued by or through American Express Travel Related Services Company, Inc., and Novus Services, Inc. and other issuers approved by
the Agent. 
 “Credit Card Notifications” has the meaning provided in Section 6.13(a)(i). 

“Credit Card Processor” shall mean any servicing or processing agent or any factor or financial intermediary who facilitates,
services, processes or manages the credit authorization, billing transfer and/or payment procedures with respect to the Borrower’s sales transactions involving credit card or debit card purchases by customers using credit cards or debit cards
issued by any Credit Card Issuer. 
 “Credit Card Receivables” means each “payment intangible” (as defined in the UCC)
together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in
connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business. 

  
 16 

 “Credit Extensions” mean each of the following: (a) a Borrowing and
(b) an L/C Credit Extension. 
 “Credit Party” or “Credit Parties” means (a) individually, (i) each Lender and
its Affiliates, (ii) the Agent, (iii) each L/C Issuer, (iv) the Arrangers, (v) each beneficiary of each indemnification obligation undertaken by any Loan Party under any Loan Document, (vi) any other Person to whom
Obligations under this Agreement and other Loan Documents are owing, and (vii) the successors and assigns of each of the foregoing, and (b) collectively, all of the foregoing. 

“Credit Party Expenses” means, without limitation, (a) all reasonable and documented out-of-pocket expenses incurred by the Agent and its Affiliates in connection with this Agreement and the other Loan Documents, including without limitation (i) the reasonable and documented out-of-pocket fees, charges and disbursements of (A) counsel for the Agent, (B) outside consultants for the Agent, (C) appraisers, (D) commercial finance
examinations, and (E) all such reasonable and documented out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of the
Obligations, (ii) in connection with (A) the syndication of the credit facilities provided for herein, (B) the preparation, negotiation, administration, management, execution and delivery of this Agreement and the other Loan Documents
or any amendments, modifications or waivers of the provisions thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (C) the enforcement or protection of their rights in connection with this Agreement or the
Loan Documents or efforts to preserve, protect, collect, or enforce the Collateral, or (D) any workout, restructuring or negotiations in respect of any Obligations, and (iii) all customary fees and charges (as adjusted from time to time)
of the Agents with respect to the disbursement of funds (or the receipt of funds) to or for the account of Borrower (whether by wire transfer or otherwise), together with any reasonable and documented out-of-pocket costs and expenses incurred in connection therewith, and (b) with respect to the L/C Issuer, and its Affiliates, all reasonable out-of-pocket expenses incurred in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder; and (c) all reasonable and documented out-of-pocket expenses incurred by the Credit Parties who are not the Agent, the L/C Issuer or any Affiliate of any of them, after the occurrence and during the continuance of
an Event of Default, provided that such Credit Parties shall be entitled to reimbursement for no more than one counsel representing all such Credit Parties (absent a conflict of interest in which case the Credit Parties may engage and be reimbursed
for additional counsel). 
 “Customs Broker/Carrier Agreement” means an agreement in form and substance reasonably satisfactory to
the Agent among the Borrower, a customs broker, freight forwarder, consolidator or carrier, and the Agent, in which the customs broker, freight forwarder, consolidator or carrier acknowledges that it has control over and holds the documents
evidencing ownership of the subject Inventory for the benefit of the Agent and agrees, upon notice from the Agent, to hold and dispose of the subject Inventory solely as directed by the Agent. 

“DDA” means each checking, savings or other demand deposit account maintained by any of the Loan Parties. All funds in each DDA
(other than any Excluded Account) shall be conclusively presumed to be Collateral and proceeds of Collateral and the Agent and the Lenders shall have no duty to inquire as to the source of the amounts on deposit in any such DDA. 

  
 17 

 “Debt Service Charges” means for any Measurement Period, the sum of
(a) Consolidated Interest Charges required to be paid for such Measurement Period, plus (b) principal payments required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations but including,
without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP. 

“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. 
 “Default” means any event or condition that constitutes an Event of Default or that, with the giving of
any notice, the passage of time, or both, would be an Event of Default. 
 “Default Rate” means (a) when used with respect to
Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Margin, if any, applicable to Base Rate Loans, plus (iii) 2% per annum; provided, however, that with respect to a LIBOR Rate
Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Margin) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the
Applicable Margin for Standby Letters of Credit or Commercial Letters of Credit, as applicable, plus 2% per annum. 
 “Defaulting
Lender” means any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder, or (ii) pay to Agent, L/C Issuer, or any other Lender
any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within two Business Days of the date when due, (b) has notified the Borrower, Agent or L/C Issuer in writing that it does not
intend to comply with its funding obligations hereunder, or has made a public statement to that effect, (c) has failed, within three Business Days after written request by Agent or Borrower, to confirm in writing to Agent and Borrower that it
will comply with its prospective funding obligations hereunder (provided, that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by Agent and Borrower), or
(d) has, or has a direct or indirect parent company that has, (i) become the subject of any proceeding under any Debtor Relief Laws, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for
the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity, or
(iii) become the subject of a Bail-in Action; provided, that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any
direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by Agent that a Lender is a
Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender upon delivery of written notice of such determination to
Borrower, L/C Issuer, and each Lender. 

  
 18 

 “Defaulting Lender Rate” means (a) for the first three (3) days from and
after the date the relevant payment is due, the Base Rate, and (b) thereafter, the interest rate then applicable to Committed Loans that are Base Rate Loans (inclusive of the Applicable Margin applicable thereto). 

“
Deferred Diligence
Period” means
 the period commencing on the Deferred Diligence Period Start Date and ending on the earliest date thereafter on which
(i) the
 Borrower has made a request for a Committed Borrowing, (ii) the Borrower has advised the Agent in writing of its intent to request a Committed Borrowing, or (iii) a
 Default or Event of Default has occurred. 
 “Deferred
 Diligence Period Inventory Advance Rate” means 50%. 

“
Deferred Diligence Period Start
Date” means
 August 31,
 2021. 
 “Diligence
 Delivery
Date” means
 that certain date following the end of the Deferred Diligence Period upon which the Agent has received (in a form satisfactory to the Agent) the updated Inventory appraisal. 

“Disclosure Letter” means that certain disclosure letter, dated as of the date hereof, by the Loan Parties in favor of Agent. 

“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including any Sale and Leaseback
Transaction) and any sale, transfer, license or other disposition of (whether in one transaction or in a series of transactions) of any property (including, without limitation, any Equity Interests other than Equity Interests of the Borrower) by any
Person (or the granting of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated
therewith. 
 “Disqualified Stock” means any Equity Interest that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the
option of the holder thereof, in whole or in part, on or prior to the date that is ninety-one (91) days after the date on which the Loans mature; provided, however, that (i) only the
portion of such Equity Interests which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date shall be deemed to be Disqualified Stock and (ii) with
respect to any Equity Interests issued to any employee or to any plan for the benefit of employees of the Borrower or its Subsidiaries or by any such plan to such employees, such Equity Interest shall not constitute Disqualified Stock solely because
it may be required to be repurchased by the Borrower or one of its Subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, resignation, death or disability and if any class
of Equity Interest of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of an Equity Interest that is not Disqualified Stock, such Equity Interests shall not be deemed to be Disqualified Stock.
Notwithstanding the preceding sentence, 

  
 19 

 
any Equity Interest that would constitute Disqualified Stock solely because the holders thereof have the right to require a Loan Party to repurchase such Equity Interest upon the occurrence of a
change of control or an asset sale shall not constitute Disqualified Stock. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Agreement will be the maximum amount that the Borrower and its Subsidiaries may
become obligated to pay upon maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock or portion thereof, plus accrued dividends. 

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

“Drawing Document” means any Letter of Credit or other document presented for purposes of drawing under any Letter of Credit,
including by electronic transmission such as SWIFT, electronic mail, facsimile or computer generated communication. 
 “Early Opt-in Election” means the occurrence of: 
 (a) (i) a determination by Agent or (ii) a
notification by the Required Lenders to Agent (with a copy to Borrower) that the Required Lenders have determined that United States dollar-denominated syndicated credit facilities being executed at such time, or that include language similar to
that contained in Section 1.08 are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace the LIBOR Rate, and 

(b) (i) the election by Agent or (ii) the election by the Required Lenders to declare that an Early
Opt-in Election has occurred and the provision, as applicable, by Agent of written notice of such election to Borrower and the Lenders or by the Required Lenders of written notice of such election to Agent.

 “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. 
 “Eligible
Assignee” means (a) a Credit Party or any of its Affiliates; (b) a bank, insurance company, or company engaged in the business of making commercial loans, which Person, together with its Affiliates, has a combined capital and surplus
in excess of $250,000,000; (c) an Approved Fund; (d) any Person to whom a Credit Party assigns its rights and obligations under this Agreement as part of an assignment and transfer of such Credit Party’s rights in and to a material portion
of such Credit Party’s portfolio of asset based credit facilities, and (e) any other Person (other than a natural person) approved by (i) the Agent, and (ii) unless an Event of Default

  
 20 

 
has occurred and is continuing, the Borrower (each such approval not to be unreasonably withheld or delayed); provided that notwithstanding the foregoing, “Eligible Assignee” shall not
include a Loan Party or any of the Loan Parties’ Affiliates or Subsidiaries. 
 “Eligible Credit Card Receivables” means at
the time of any determination thereof, each Credit Card Receivable that satisfies the following criteria at the time of creation and continues to meet the same at the time of such determination, as determined by the Agent in its Permitted
Discretion: such Credit Card Receivable (i) has been earned by performance and represents the bona fide amounts due to a Loan Party from a Credit Card Issuer or Credit Card Processor, and in each case originated in the ordinary course of
business of such Loan Party, and (ii) in each case is acceptable to the Agent in its Permitted Discretion, and is not ineligible for inclusion in the calculation of the Borrowing Base pursuant to any of clauses (a) through (i) below.
Without limiting the foregoing, to qualify as an Eligible Credit Card Receivable, such Credit Card Receivable shall indicate no Person other than a Loan Party as payee or remittance party. In determining the amount to be so included, the face amount
of a Credit Card Receivable shall be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price
adjustments, finance charges or other allowances (including any amount that a Loan Party may be obligated to rebate to a customer, a Credit Card Issuer or Credit Card Processor pursuant to the terms of any agreement or understanding (written or
oral)) and (ii) the aggregate amount of all cash received in respect of such Credit Card Receivable but not yet applied by the Loan Parties to reduce the amount of such Credit Card Receivable. Except as otherwise agreed by the Agent in its
Permitted Discretion, any Credit Card Receivable included within any of the following categories shall not constitute an Eligible Credit Card Receivable: 

(a)    Credit Card Receivables which do not constitute a “payment intangible” (as defined in the
UCC); 
 (b)    Credit Card Receivables that have been outstanding for more than five (5) Business
Days from the date of sale; 
 (c)    Credit Card Receivables (i) that are not subject to a
perfected first priority security interest in favor of the Agent, or (ii) with respect to which a Loan Party does not have good, valid and marketable title thereto, free and clear of any Lien (other than Liens granted to the Agent pursuant to
the Security Documents); 
 (d)    Credit Card Receivables which are disputed, are with recourse, or with
respect to which a claim, counterclaim, offset or chargeback has been asserted (to the extent of such claim, counterclaim, offset or chargeback); 

(e)    Credit Card Receivables as to which the Credit Card Issuer or Credit Card Processor has the right
under certain circumstances to require a Loan Party to repurchase the Credit Card Receivables from such Credit Card Issuer or Credit Card Processor; 

(f)    Credit Card Receivables due from a Credit Card Issuer or Credit Card Processor which is the subject
of any bankruptcy or insolvency proceedings; 

  
 21 

 (g)    Credit Card Receivables which are not a valid,
legally enforceable obligation of the applicable Credit Card Issuer or Credit Card Processor with respect thereto; 

(h)    Credit Card Receivables which do not conform to all representations, warranties or other provisions
in the Loan Documents relating to Credit Card Receivables; or 
 (i)    Credit Card Receivables which the
Agent determines in its Permitted Discretion to be uncertain of collection or which do not meet such other reasonable eligibility criteria for Credit Card Receivables as the Agent may determine. 

“Eligible In-Transit Inventory” means, as of any date of determination thereof, without
duplication of other Eligible Inventory, In-Transit Inventory: 

(a)    which has been shipped from a foreign location for receipt by a Loan Party, but which has not yet
been delivered to such Loan Party, which In-Transit Inventory has been in transit for sixty (60) days or less from the date of shipment of such Inventory; 

(b)    for which the purchase order is in the name of a Loan Party and title and risk of loss has passed to
such Loan Party; 
 (c)    for which an Acceptable Document of Title has been issued, and in each case as
to which the Agent has control (as defined in the UCC) over the documents of title which evidence ownership of the subject Inventory (such as, if requested by the Agent, by the delivery of a Customs Broker/Carrier Agreement); 

(d)    which is insured in accordance with the terms of this Agreement to the reasonable satisfaction of
the Agent (including, without limitation, marine cargo insurance); 
 (e)    the Foreign Vendor with
respect to such In-Transit Inventory is an Approved Foreign Vendor; 

(f)    for which payment of the purchase price has been made by the Borrower or the purchase price is
supported by a Commercial Letter of Credit; and 
 (g)    which otherwise would constitute Eligible
Inventory; 
 provided that the Agent may, in its Permitted Discretion, exclude any particular Inventory from the
definition of “Eligible In-Transit Inventory” in the event the Agent determines that such Inventory is subject to any Person’s right of reclamation, repudiation, stoppage in transit or any event
has occurred or is reasonably anticipated by the Agent to arise which may otherwise adversely impact the ability of the Agent to realize upon such Inventory. 

“Eligible Inventory” means, as of the date of determination thereof, without duplication, (i) Eligible In-Transit Inventory in an amount not to exceed 10% of the amount of all Eligible 

  
 22 

 
Inventory and (ii) items of Inventory of a Loan Party that are finished goods, merchantable and readily saleable to the public in the ordinary course of the Loan Party’s business and
deemed by the Agent in its Permitted Discretion to be eligible for inclusion in the calculation of the Borrowing Base, in each case that, except as otherwise agreed by the Agent, (A) complies with each of the representations and warranties
respecting Inventory made by the Loan Parties in the Loan Documents, and (B) is not excluded as ineligible by virtue of one or more of the criteria set forth below as determined by the Agent in its Permitted Discretion. Except as otherwise
agreed by the Agent, in its Permitted Discretion, the following items of Inventory shall not be included in Eligible Inventory: 

(a)    Inventory that is not solely owned by a Loan Party or a Loan Party does not have good and valid
title thereto; 
 (b)    Inventory that is leased by or is on consignment to a Loan Party or which is
consigned by a Loan Party to a Person which is not a Loan Party; 
 (c)    Inventory (other than Eligible
In-Transit Inventory) that is not located in the United States of America (excluding territories or possessions of the United States); 

(d)    Inventory that is not located at a location that is owned or leased by a Loan Party, except
(i) Inventory in transit between such owned or leased locations or locations which meet the criteria set forth in clause (ii) below (it being understood, for purposes of this clause (d), that any Inventory stored at a hub or terminal
utilized by a common carrier, trucking service or other transportation provider (x) for less than fourteen (14) Business
Days, or (y) after the date that is one hundred twenty
(120) days following the Closing Date, for which a Collateral Access Agreement has been delivered to the Agent shall be deemed in-transit) or (ii) to the extent that the Loan Parties have furnished
the Agent with (A) any UCC financing statements or other documents that the Agent may determine to be necessary to perfect its security interest in such Inventory at such location, and (B) a Collateral Access Agreement executed by the
Person owning any such location on terms reasonably acceptable to the Agent (or in the absence of such
Collateral Access Agreement under clauses (i) or (ii) above, the Agent has established an Availability Reserve in its Permitted Discretion in respect of rent for
such location); 
 (e)     Inventory that is
located in a distribution center or warehouse leased by a Loan Party unless (x) following the date that is sixty days after the Closing Date, the applicable lessor has delivered to the Agent a Collateral Access Agreement or (y) for which
the Agent has established an Availability Reserve in respect of rent for such location; 

(f)    Inventory that is comprised of goods which (i) are damaged, defective, “seconds,” or
otherwise unmerchantable, (ii) are to be returned to the vendor, (iii) are obsolete or slow moving, or custom items, work in process, raw materials, or that constitute samples, spare parts, promotional, marketing, labels, bags and other
packaging and shipping materials or supplies used or consumed in a Loan Party’s business, (iv) are seasonal in nature and which have been packed away for sale in the subsequent season and exceed five percent (5%) of the Loan Parties’
Inventory, (v) not in compliance with all standards imposed by any Governmental Authority having regulatory authority over such Inventory, its use or sale, or (vi) are bill and hold goods; 

  
 23 

 (g)    Inventory that is not subject to a perfected
first priority security interest (subject to Permitted Encumbrances that have priority by operation of Law) in favor of the Agent; 

(h)    Inventory that is not insured in compliance with the provisions of
Section 5.10 hereof; 
 (i)    Inventory that has been sold but not yet
delivered or as to which a Loan Party has accepted a deposit; 
 (j)    Inventory that is subject to any
licensing, patent, royalty, trademark, trade name or copyright agreement with any third party from which any Loan Party or any of its Subsidiaries has received notice of a dispute in respect of any such agreement; or 

(k)    Inventory in excess of $20,000,000 acquired in a Permitted Acquisition or which is not of the type
usually sold in the ordinary course of the Borrower’s business, unless and until the Agent has completed or received (A) an appraisal of such Inventory from appraisers reasonably satisfactory to the Agent and establishes an Inventory
Advance Rate and Inventory Reserves (if applicable) therefor, and otherwise agrees that such Inventory shall be deemed Eligible Inventory, and (B) such other due diligence as the Agent may reasonably require, all of the results of the foregoing
to be reasonably satisfactory to the Agent; provided that such Inventory shall be deemed to constitute Eligible Inventory for a period of 45 days after the date of its acquisition notwithstanding that the Agent has not completed such due diligence
as long as such Inventory is of the type usually sold in the ordinary course of the Borrower’s business and would otherwise constitute Eligible Inventory. 

“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments,
orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment, including those related to
hazardous substances or wastes, air emissions and discharges to waste or public systems. 
 “Environmental Liability” means any
liability, obligation, damage, loss, claim, action, suit, judgment, order, fine, penalty, fee, expense, or cost, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of
the Borrower, any other Loan Party or any of their respective 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 or presence of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual
arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
 “Equipment” has the meaning
set forth in the UCC. 

  
 24 

 “Equity Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person,
all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such
other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests
are outstanding on any date of determination. 
 “ERISA” means the Employee Retirement Income Security Act of 1974. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with any Loan Party within the
meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 and 4971 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by any Loan Party or any ERISA
Affiliate 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 ERISA Affiliate from a Multiemployer Plan or notification to the Borrower or any ERISA Affiliate that a Multiemployer Plan is in reorganization;
(d) the filing of a notice of intent to terminate, the treatment of a plan amendment as a termination of a Pension Plan or a Multiemployer Plan under Sections 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a
Pension Plan or Multiemployer Plan; (e) 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; (f) the
imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate; or (g) the determination that any Pension Plan is considered to
be an “at-risk” plan, or that any Multiemployer Plan is considered to be in “endangered” or “critical” status within the meaning of Sections 430, 431 and 432 of the Code or
Sections 303, 304 or 305 of ERISA. 
 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

“Event of Default” has the meaning specified in Section 8.01. An Event of Default shall be deemed to be
continuing unless and until that Event of Default has been duly waived as provided in Section 10.03 hereof. 

“Excluded Account(s)” shall have the meaning set forth in the Security Agreement. 

“Excluded Subsidiary” means (a) any Subsidiary that is not directly or indirectly a wholly owned Subsidiary of the Borrower,
(b) Subsidiaries designated in writing by the Borrower to the Agent from time to time, provided that (x) the total assets or annual revenue of any such 

  
 25 

 
Subsidiary, individually, are not in excess of two percent (2%) of the consolidated total assets or consolidated gross revenues of the Borrower and its Subsidiaries and (y) the total assets
or annual revenues of all such Subsidiaries, in the aggregate, are not in excess of five percent (5%) of the consolidated total assets or consolidated gross revenues of the Borrower and its Subsidiaries, (c) any Subsidiary acquired following
the Closing Date that is prohibited by applicable Law or contractual obligations that are in existence at the time of acquisition and not entered into in contemplation thereof from guaranteeing the Obligations or if guaranteeing the Obligation would
require governmental (including regulatory) consent, approval, license or authorization (unless such consent, approval license or authorization has been obtained following Agent’s request therefor), (d) any CFC, (e) any non-for-profit Subsidiaries, (f) any special purpose securitization vehicle or a captive insurance subsidiary, and (g) any other Subsidiary with respect to which, in
the reasonable judgment of the Agent, in consultation with the Borrower, the burden or cost or other consequences (including any material adverse tax consequences) of providing a Guarantee shall be excessive in view of the benefits to be obtained by
the Lenders therefrom. 
 “Excluded Swap Obligation” means, with respect to any Loan Party, any 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) 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 at the time the Guarantee of such Loan Party or the grant of such security interest becomes effective with respect to such Swap Obligation. 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 is or becomes illegal. 

“Excluded Taxes” means, with respect to the Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or
on account of any obligation of the Loan Parties hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political
subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable Lending Office is located, (b) any branch profits taxes imposed by the
United States or any similar tax imposed by any other jurisdiction in which any Loan Party is located, (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under
Section 10.13), any withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office) or is attributable to such Foreign
Lender’s failure or inability (other than as a result of a Change in Law) to comply with Section 3.01(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation
of a new Lending Office (or assignment), to receive additional amounts from the Loan Parties with respect to such withholding tax pursuant to Section 3.01(a), (d) any U.S. federal, state or local backup withholding tax, and
(e) any U.S. federal withholding tax imposed under FATCA. 
 “Executive Order” has the meaning set forth in
Section 10.18. 

  
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 “Existing Credit Agreement” has the meaning set forth in the introductory
paragraphs hereto. 
 “Existing Letters of Credit” means the letters of credit pursuant to the Existing Credit Agreement, as
identified on Schedule 2.03. 
 “Facility Guaranty” means the Facility Guaranty made by the Guarantors in favor of the Agent and
the other Credit Parties, in form reasonably satisfactory to the Agent, as the same now exists or may hereafter be amended, modified, supplemented, renewed, restated or replaced. 

“Factored Receivables” means any Accounts originally owed or owing by a Loan Party to another Person which have been purchased by or
factored with Wells Fargo or any of its Affiliates pursuant to a factoring arrangement or otherwise with the Person that sold the goods or rendered the services to the Loan Party which gave rise to such Account. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is
substantively comparable and not materially more onerous to comply with), and (a) any current or future regulations or official interpretations thereof, (b) any agreements entered into pursuant to Section 1471(b)(1) of the Code, and
(c) any fiscal or regulatory legislation rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code. 

“FCPA” means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder. 

“Federal Funds Rate” means, for any period, a fluctuating interest rate per annum equal to, for each day during such period, the
weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any
day which is a Business Day, the average of the quotations for such day on such transactions received by Agent from three Federal funds brokers of recognized standing selected by it (and, if any such rate is below zero, then the rate determined
pursuant to this definition shall be deemed to be zero). 
 “Federal Reserve Bank of New York’s Website” means the website of
the Federal Reserve Bank of New York at http://www.newyorkfed.org, or any successor source. 
 “Fee Letter” means (i) the
letter agreement, dated April 2, 2020, among the Borrower, the Agent and Wells Fargo, as an Arranger and (ii) the letter agreement, dated on or around April 23, 2020, among the Borrower and PNC Capital Markets LLC, as an Arranger.

“
First
Amendment” means
 that certain First Amendment to Credit Agreement, dated as of the First Amendment Effective Date, by and among the Loan Parties, the Agent and the Lenders party thereto. 

“
First Amendment Effective
Date” means
 January 27,
 2021.  

  
 27 

“
First Amendment Fee
Letter” means
 the letter agreement, dated as of the First Amendment Effective Date, among the Borrower, the Agent and Wells Fargo, as an Arranger. 

“Fiscal Month” means each fiscal month in accordance with the fiscal accounting calendar of the Loan Parties. 

“Fiscal Quarter” means each period of thirteen or fourteen weeks ending on or about April 30, July 31, October 31 and
January 31 in accordance with the fiscal accounting calendar of the Loan Parties. 
 “Fiscal Year” means the 52/53 week
period ending the Saturday closest to January 31 of the following year. 
 “Foreign Asset Control Regulations” has the
meaning set forth in Section 10.18. 
 “Foreign Lender” means any Lender that is organized under the
laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Vendor” means a Person that sells In-Transit Inventory to a Loan Party. 

“Foreign Vendor Agreement” means an agreement between a Foreign Vendor and the Agent in form and substance reasonably satisfactory
to the Agent and pursuant to which, among other things, the parties shall agree upon their relative rights with respect to In-Transit Inventory of a Loan Party purchased from such Foreign Vendor. 

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

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

“Governmental Authority” means the government of the United States or any other nation, or of any political subdivision thereof,
whether state or local, 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). 
 “Guarantee” means, as
to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other 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

  
 28 

 
or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or
performance of such Indebtedness or other 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 obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other 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 obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by
such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). 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 the introductory
paragraph hereto and includes each other Subsidiary of the Borrower that shall be required to execute and deliver a Facility Guaranty pursuant to Section 6.12. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other
pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any
Environmental Law. 
 “Increase Effective Date” shall have the meaning provided therefor in
Section 2.15(iv). 
 “Indebtedness” means, as to any Person at a particular time, without duplication,
all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 

(a)    all obligations of such Person for borrowed money and all obligations of such Person evidenced by
bonds, debentures, notes, loan agreements or other similar instruments; 
 (b)    the maximum amount of
all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 

(c)    net obligations of such Person under any Swap Contract; 

(d)    all obligations of such Person to pay the deferred purchase price of property or services (other
than trade accounts payable in the ordinary course of business and, in each case, not past due for more than 60 days after the date on which such trade account payable was created); 

  
 29 

 (e)    indebtedness (excluding prepaid interest thereon)
secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited
in recourse; 
 (f)    All Indebtedness of such Person (i) in respect of any Capital Lease
Obligations of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (ii) in respect of any Synthetic Lease Obligations, the capitalized amount of
the remaining lease or similar payments under the relevant lease or other applicable agreement or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease, agreement or instrument
were accounted for as a finance lease; 
 (g)    all obligations of such Person to purchase, redeem,
retire, defease or otherwise make any payment in respect of any Equity Interest in such Person or any other Person (including, without limitation, Disqualified Stock), or any warrant, right or option to acquire such Equity Interest, valued, in the
case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends (but excluding any payments made with respect to the withholding due upon the grant, vesting or exercise
of any Equity Interest granted to a service provider of the Borrower or any of its Affiliates); and 

(h)    all Guarantees of such Person in respect of any of the foregoing. 

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint
venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The
amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. 

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

“Indemnitees” has the meaning specified in Section 10.04(b). 

“Information” has the meaning specified in Section 10.07. 

“Intellectual Property” means all present and future: trade secrets, know-how and other
proprietary information; trademarks, trademark applications, internet domain names, service marks, trade dress, trade names, business names, designs, logos, slogans (and all translations, adaptations, derivations and combinations of the foregoing)
indicia and other source and/or business identifiers, and all registrations or applications for registrations which have heretofore been or may hereafter be issued thereon throughout the world; copyrights and copyright applications; (including
copyrights for computer programs) and all tangible and intangible property embodying the copyrights, unpatented inventions (whether or not patentable); patents and 

  
 30 

 
patent applications; industrial design applications and registered industrial designs; license agreements related to any of the foregoing and income therefrom; books, customer lists, records,
writings, computer tapes or disks, flow diagrams, specification sheets, computer software, source codes, object codes, executable code, data, databases and other physical manifestations, embodiments or incorporations of any of the foregoing; all
other intellectual property; and all common law and other rights throughout the world in and to all of the foregoing. 
 “Intellectual
Property Security Agreement” means the Intellectual Property Security Agreement dated as of the Closing Date among the Loan Parties and the Agent, granting a Lien in the Intellectual Property and certain other assets of the Loan Parties, as the
same now exists or may hereafter be amended, modified, supplemented, renewed, restated or replaced. 
 “Intercompany Note” means
that certain Amended and Restated Intercompany Note, dated as of the date hereof, by and among the Borrower and certain of its Subsidiaries from time to time party thereto. 

“Interest Payment Date” means, (a) as to any LIBOR Rate Loan, the last day of each Interest Period applicable to such Loan and
the Maturity Date; provided, however, that if any Interest Period for a LIBOR Rate 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 (including a Swing Line Loan), the first day after the end of each month and the Maturity Date. 

“Interest Period” means, as to each LIBOR Rate Loan, the period commencing on the date such LIBOR Rate Loan is disbursed or
converted to or continued as a LIBOR Rate Loan and ending on the date seven days, or one, two, three or six months thereafter, as selected by the Borrower in its LIBOR Rate Loan Notice or such other period that is twelve months or less requested by
the Borrower and Consented to by all the Lenders; provided that: 
 (i)    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 next preceding Business Day; 

(ii)    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 

(iii)    no Interest Period shall extend beyond the Maturity Date. 

For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the
most recent conversion or continuation of such Borrowing. 
 “In-Transit Inventory” means
Inventory of a Loan Party which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Loan Party from a location outside of the continental United States to a location of a Loan Party that is within the continental
United States. 

  
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 “Internal Control Event” means a material weakness in, or fraud that involves
management or other employees who have a significant role in, the Borrower’s and/or its Subsidiaries’ internal controls over financial reporting, in each case as described in the Securities Laws. 

“Inventory” has the meaning given that term in the UCC, and shall also include, without limitation, all: (a) goods which
(i) are leased by a Person as lessor, (ii) are held by a Person for sale or lease or to be furnished under a contract of service, (iii) are furnished by a Person under a contract of service, or (iv) consist of raw materials, work
in process, or materials used or consumed in a business; (b) goods of said description in transit; (c) goods of said description which are returned, repossessed or rejected; and (d) packaging, advertising, and shipping materials
related to any of the foregoing. 
 “Inventory Advance Rate” means 90%. 

“Inventory Reserves” means such reserves as may be established from time to time by the Agent in its Permitted Discretion with
respect to the determination of the salability, at retail, of the Eligible Inventory, which reflect such other factors as affect the market value of the Eligible Inventory or which reflect claims and liabilities that the Agent determines will need
to be satisfied in connection with the realization upon the Inventory. Without limiting the generality of the foregoing, Inventory Reserves may, in the Agent’s Permitted Discretion, include (but are not limited to) reserves based on: 

(a)    Obsolescence; 

(b)    Seasonality; 

(c)    Shrink; 

(d)    Imbalance; 

(e)    Change in Inventory character; 

(f)    Change in Inventory composition; 

(g)    Change in Inventory mix; 

(h)    Markdowns (both permanent and point of sale); 

(i)    Retail markons and markups inconsistent with prior period practice and performance, industry
standards, current business plans or advertising calendar and planned advertising events; and 
 (j)    Out-of-date and/or expired Inventory 

  
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 provided further that (x) all Inventory Reserves (including the amount of
such Inventory Reserves) shall bear a reasonable relationship to the events, conditions or circumstances that are the basis for each such Inventory Reserve. So long as no Event of Default has occurred and is continuing Agent shall provide the
Borrower with no less than three (3) Business Days’ prior notice of any intended imposition of, or increase in, the Inventory Reserves (other than increases resulting solely from fluctuations in the amount of the items reserved for) and
will be available to consult with the Borrower in connection with the basis for such imposition or increase of Inventory Reserves; provided that (i) no such prior notice shall be required for changes to any Inventory Reserves resulting
solely by virtue of mathematical calculations of the amount of the Inventory Reserves in accordance with the methodology of calculation previously used and (ii) upon such notice, the Borrower will not be permitted to borrow so as to exceed the
Borrowing Base after giving effect to such new or modified Reserves. For the avoidance of doubt, it is acknowledged and agreed that any Reserves made pursuant to more than one clause above shall be made without duplication. 

“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of
(a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other Indebtedness or Equity
Interest in, another Person, (c) any Acquisition, or (d) the purchase, acquisition or investment of or in any stocks, bonds, mutual funds, notes, debentures or other securities, or any deposit account, certificate of deposit or other
investment of any kind. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. 

“Investment and RP Conditions” means, as of any date of determination, that (i) the Outstanding Amount of Loans is zero dollars
and has been zero dollars for at least thirty (30) days prior to such date and (ii) (a) where the transaction includes the investment, disposition or other expenditure of $50,000,000 or less by Borrower,
then the Borrower reasonably anticipates that the Outstanding Amount of Loans will continue to be zero dollars for at least six months following such date, and with respect to any investment, disposition or other expenditure in excess of
$15,000,000, has provided the Agent with a certificate from a Responsible Officer certifying on behalf of the Borrower that the Outstanding Amount of Loans is reasonably anticipated to continue to be zero dollars for at least six months following
such date, or
(b) where
 the transaction includes the investment, disposition or other expenditure of more than $50,000,000 by the Borrower, the Borrower has delivered to the Agent on such date pro forma projections in
form and substance satisfactory to the Agent demonstrating that the Outstanding Amount of Loans is reasonably anticipated to continue to be zero dollars for at least six months following such date. 

“IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the International Standby Practices 1998 (International Chamber of Commerce
Publication No. 590) and any version or revision thereof accepted by the L/C Issuer for use. 

  
 33 

 “Issuer Documents” means with respect to any Letter of Credit, the Letter Credit
Application, the Standby Letter of Credit Agreement or Commercial Letter of Credit Agreement, as applicable, and any other document, agreement and instrument entered into by the L/C Issuer and the Borrower (or any Subsidiary) or in favor of the L/C
Issuer and relating to any such Letter of Credit. 
 “Joinder” means an agreement, in form reasonably satisfactory to the Agent
pursuant to which, among other things, a Person becomes a party to, and bound by the terms of, this Agreement and/or the other Loan Documents in the same capacity and to the same extent as either a Borrower or a Guarantor, as the Agent may
reasonably determine. 
 “Laws” means each international, foreign, Federal, state and local statute, treaty, rule, guideline,
regulation, ordinance, code and administrative or judicial precedent or authority, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and each
applicable administrative order, directed duty, request, license, authorization and permit of, and agreement with, any Governmental Authority, in each case whether or not having the force of law. 

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or
the increase of the amount thereof, or the renewal thereof. 
 “L/C Issuer” means (a) Wells Fargo in its capacity as issuer
of Letters of Credit hereunder, including with respect to the Existing Letters of Credit. The L/C Issuer may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the L/C Issuer and/or for such Affiliate to act
as an advising, transferring, confirming and/or nominated bank in connection with the issuance or administration of any such Letter of Credit, in which case the term “L/C Issuer” shall include any such Affiliate with respect to Letters of
Credit issued by such Affiliate. 
 “L/C Obligations” means, as at any date of determination, the sum of (a) the aggregate
undrawn amount of all outstanding Letters of Credit, plus (b) the aggregate amount of outstanding reimbursement obligations with respect to Letters of Credit which remain unreimbursed or which have not been paid through a Loan. For
purposes of computing the amounts available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. 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 any Rule under the ISP or any article of the UCP, such Letter of Credit shall be deemed to be
“outstanding” in the amount so remaining available to be drawn. 
 “Lease” means any agreement, whether written or oral,
no matter how styled or structured, pursuant to which a Loan Party is entitled to the use or occupancy of any space in a structure, land, improvements or premises for any period of time. 

“Lender” has the meaning specified in the introductory paragraph hereto and, as the context requires, includes the Swing Line
Lender. 
 “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 Agent. 

  
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 “Letter of Credit” means each Standby Letter of Credit and each Commercial Letter
of Credit issued hereunder and shall include the Existing Letters of Credit. 
 “Letter of Credit Application” means an
application for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer. 
 “Letter of
Credit Disbursement” means a payment made by the L/C Issuer pursuant to a Letter of Credit. 
 “Letter of Credit Expiration
Date” means the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day). 

“Letter of Credit Fee” has the meaning specified in Section 2.03(l). 

“Letter of Credit Indemnified Costs” has the meaning specified in Section 2.03(f). 

“Letter of Credit Related Person” has the meaning specified in Section 2.03(f). 

“Letter of Credit Sublimit” means an amount equal to $20,000,000. The Letter of Credit Sublimit is part of, and not in addition to,
the Aggregate Commitments. A permanent reduction of the Aggregate Commitments shall not require a corresponding pro rata reduction in the Letter of Credit Sublimit; provided, however, that if the Aggregate Commitments are reduced to an amount less
than the Letter of Credit Sublimit, then the Letter of Credit Sublimit shall be reduced to an amount equal to (or, at Borrower’s option, less than) the Aggregate Commitments. 

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

“LIBOR Rate” means for any Interest Period with respect to a LIBOR Rate Loan, the greater of (a) 0.50% per annum and (b) the rate per annum as published by ICE Benchmark Administration
Limited (or any successor page or other commercially available source as the Agent may designate from time to time) as of 11:00 a.m., London time, two Business Days prior to the commencement of the requested Interest Period, for a term, and in an
amount, comparable to the Interest Period and the amount of the LIBOR Rate Loan requested (whether as an initial LIBOR Rate Loan or as a continuation of a LIBOR Rate Loan or as a conversion of a Base Rate Loan to a LIBOR Rate Loan) by Borrower in
accordance with this Agreement (and, if any such published rate is below zero, then thesuch rate determined pursuant to this clause (b) shall be deemed to be zero). Each determination of the LIBOR Rate shall be made by the Agent and shall be conclusive in the absence of manifest error. 

“LIBOR Rate Loan” means a Committed Loan that bears interest at a rate based on the LIBOR Rate. 

“LIBOR Rate Loan Notice” means a notice for a LIBOR Borrowing or continuation pursuant to Section 2.02(b),
which shall be substantially in the form of Exhibit A. 
 “Lien” means (a) any mortgage, deed of trust, pledge,
hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature 

  
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whatsoever (including any conditional sale, Capital Lease Obligation, Synthetic Lease Obligation, or other title retention agreement, any easement, right of way or other encumbrance on title to
real property, and any financing lease having substantially the same economic effect as any of the foregoing) and (b) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Liquidation” means the exercise by the Agent of those rights and remedies accorded to the Agent under the Loan Documents and
applicable Law as a creditor of the Loan Parties with respect to the realization on the Collateral, including (after the occurrence and during the continuation of an Event of Default) the conduct by the Loan Parties acting with the consent of the
Agent, of any public, private or “going out of business”, “store closing”, or other similarly themed sale or other disposition of the Collateral for the purpose of liquidating the Collateral. Derivations of the word
“Liquidation” (such as “Liquidate”) are used with like meaning in this Agreement. 
 “Loan” means an extension
of credit by a Lender to the Borrower under Article II in the form of a Committed Loan or a Swing Line Loan. 
 “Loan
Account” has the meaning assigned to such term in Section 2.11(a). 
 “Loan Cap” means, at any time
of determination, the lesser of (a) the Aggregate Commitments or (b) the Borrowing Base as determined based on the most recently delivered Borrowing Base Certificate, subject to any adjustments by Agent in its Permitted Discretion in
accordance with the terms of this Agreement. 
 “Loan Documents” means this Agreement, the Disclosure Letter, each Note, each
Issuer Document, the Fee Letters, the First Amendment, the First Amendment Fee Letters, all Borrowing Base Certificates, the Blocked Account Agreements, the Credit Card Notifications, the Security Documents, the Facility Guaranty, each Request for Credit Extension, and any other instrument or
agreement now or hereafter executed and delivered in connection herewith, or in connection with any transaction arising out of any Cash Management Services and Bank Products provided by the Agent or any of its Affiliates, each as amended and in
effect from time to time. 
 “Loan Parties” means, collectively, the Borrower and each Guarantor. 

“London Business Day” means a day on which commercial banks are open for general business (including dealings in foreign exchange
and foreign currency deposits) in London, England. 
 “Material Adverse Effect” means (a) a material adverse change in, or a
material adverse effect upon, the operations, business, properties, liabilities (actual or contingent), condition (financial or otherwise) of the Loan Parties and their Subsidiaries taken as a whole; (b) a material impairment of the ability of
the Loan Parties to perform their obligations under any Loan Document to which they are a party; or (c) a material impairment of the rights and remedies of the Agent or any Lender under any Loan Document or a material adverse effect upon the
legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party. In determining whether any individual event would result in a Material Adverse Effect, notwithstanding that such event in and of
itself does not have such effect, a Material Adverse Effect shall be deemed to have occurred if the cumulative effect of such event and all other then existing events would result in a Material Adverse Effect. 

  
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 “Material Contract” means any contract or other arrangement (other than the Loan
Documents), whether written or oral, to which any Loan Party is a party as to which the breach, nonperformance, cancellation or failure to renew by any party thereto would reasonably be expected to have a Material Adverse Effect. 

“Material Indebtedness” means Indebtedness (other than the Obligations) of the Loan Parties in an aggregate principal amount
exceeding $25,000,000. For purposes of determining the amount of Material Indebtedness at any time, (a) the amount of the obligations in respect of any Swap Contract at such time shall be calculated at the Swap Termination Value thereof,
(b) undrawn committed or available amounts shall be included, and (c) all amounts owing to all creditors under any combined or syndicated credit arrangement shall be included. 

“Maturity Date” means April 24, 2023. 

“Maximum Rate” has the meaning provided therefor in Section 10.09. 

“Measurement Period” means, at any date of determination, the most recently completed four Fiscal Quarters of the Borrower. 

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

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the
Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

“Non-Consenting Lender” has the meaning provided therefor in
Section 10.01. 
 “Non-Defaulting Lender” means each Lender
other than a Defaulting Lender. 
 “Non-Financed Capital Expenditures” means, for any
period, all Capital Expenditures made during such period that have not been funded with the proceeds of purchase money financing (including, without limitations, finance leases) other than the proceeds of Loans. 

“Note” means (a) a promissory note made by the Borrower in favor of a Lender evidencing Committed Loans made by such Lender,
substantially in the form of Exhibit C-1, and (b) the Swing Line Note, as each may be amended, supplemented or modified from time to time. 

“NPL” means the National Priorities List under CERCLA. 

“Obligations” means (a) all advances to, and debts (including principal, interest, fees, costs, and expenses), liabilities,
obligations, covenants, indemnities, and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit (including payments in respect of reimbursement of disbursements, interest thereon and
obligations to provide cash collateral therefor), whether direct or indirect (including those acquired by assumption), 

  
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absolute or contingent, due or to become due, now existing or hereafter arising and including interest, fees, costs, expenses and indemnities that accrue after the commencement by or against any
Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, fees, costs, expenses and indemnities are allowed claims in such proceeding,
and (b) any Other Liabilities; provided that the Obligations shall not include any Excluded Swap Obligations. 

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

“Organization Documents” means, (a) 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); (b) with respect to any limited liability company, the certificate or articles of formation or
organization and operating agreement; (c) 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, and (d) in each case, all shareholder or other equity holder agreements, voting trusts and similar arrangements to which such Person is a party or which is applicable to its Equity Interests and all
other arrangements relating to the Control or management of such Person. 
 “Other Liabilities” means (a) any obligation on
account of (i) any Cash Management Services furnished to any of the Loan Parties or any of their Subsidiaries and/or (ii) any transaction with the Agent, any Lender, or any of their respective Affiliates, which arises out of any Bank
Product entered into with any Loan Party and any such Person, as each may be amended from time to time. 
 “Other Taxes” means all
present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise
with respect to, this Agreement or any other Loan Document. 
 “Outstanding Amount” means (i) with respect to Committed Loans
and Swing Line Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Committed Loans and Swing Line Loans, as the case may be, occurring on such date; and
(ii) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as
of such date. 
 “Overadvance” means a Credit Extension to the extent that, immediately after its having been made, Availability
is less than zero. 
 “Participant” has the meaning specified in Section 10.06(d). 

  
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 “Payment Conditions” means, at the time of determination with respect to any
specified transaction or payment, that (a) no Default or Event of Default then exists or would arise as a result of entering into such transaction or the making of such payment, (b) before and after giving effect to such transaction or
payment, Availability is
(i) greater
 than 20% of the Loan Cap from the Deferred Diligence Period Start Date through and including the Diligence Delivery Date or (ii) greater than 15% of the Loan Cap, outside of the period
between the Deferred Diligence Period Start Date through and including the Diligence Delivery Date and (c) after giving effect to such transaction or payment, the Consolidated Fixed Charge
Coverage Ratio, for the most recent Measurement Period immediately preceding the date of such transaction or payment for which the Agent has received financial statements shall be equal to or greater than 1.00:1.00 after giving pro forma effect to
such transaction or payment as if such transaction had been entered into or such payment had been made as of the first day of such Measurement Period. Prior to undertaking any transaction or payment which is subject to the Payment Conditions, the
Loan Parties shall deliver to the Agent (i) an updated Borrowing Base Certificate giving effect to the payment or transaction and (ii) evidence of satisfaction of the condition contained in clause (c) above on a basis (including,
without limitation, giving due consideration to results for prior periods) reasonably satisfactory to the Agent. 
 “PBGC”
means the Pension Benefit Guaranty Corporation. 
 “PCAOB” means the Public Company Accounting Oversight Board. 

“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 the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate 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 during the immediately preceding five plan years. 

“Permitted Acquisition” means an Acquisition in which all of the following conditions are satisfied: 

(a)    No Event of Default then exists or would arise from the consummation of such Acquisition; 

(b)    Such Acquisition shall have been approved by the Board of Directors of the Person (or similar
governing body if such Person is not a corporation) which is the subject of such Acquisition and such Person shall not have announced that it will oppose such Acquisition or shall not have commenced any action which alleges that such Acquisition
shall violate applicable Law; 
 (c)    If the aggregate consideration for such Acquisition exceeds an
amount equal to
$25,000,000100,000,000
, the Borrower shall have furnished the Agent with ten (10) days’ prior written notice of such intended Acquisition and shall have furnished the Agent with a current draft of the
acquisition documents (and final copies thereof as and when executed), financial statements of the Person which is the subject of such Acquisition (to the extent available), a summary of any due diligence undertaken by the Loan Parties in

  
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connection with such Acquisition if requested by the Agent, pro forma projected financial statements for the twelve (12) month period following such Acquisition after giving effect to such
Acquisition (including balance sheets, cash flows and income statements by month on a Consolidated basis with all Loan Parties), and such other information as the Agent may reasonably require, all of which shall be reasonably satisfactory to the
Agent; 
 (d)    If Loans will be used to fund any part of the Acquisition, if the aggregate
consideration for such Acquisition exceeds
$25,000,000100,000,000
, either (i) the legal structure of the Acquisition shall be acceptable to the Agent in its reasonable discretion, or (ii) the Loan Parties shall have provided the Agent with a favorable
solvency opinion from an unaffiliated third party valuation firm reasonably satisfactory to the Agent; 

(e)    After giving effect to the Acquisition, if the Acquisition is an Acquisition of the Equity
Interests, a Loan Party shall acquire and own, directly or indirectly, a majority of the Equity Interests in the Person being acquired and shall Control a majority of any voting interests or shall otherwise Control the governance of the Person being
acquired; 
 (f)    Any assets acquired shall be utilized in, and if the Acquisition involves a merger,
consolidation or Acquisition of Equity Interests, the Person which is the subject of such Acquisition shall be engaged in, a business otherwise permitted to be engaged in by a Borrower under this Agreement; 

(g)    If the Person which is the subject of such Acquisition will be maintained as a Subsidiary of a Loan
Party (other than an Excluded Subsidiary), or if the assets acquired in an acquisition will be transferred to a Subsidiary which is not then a Loan Party, within 60 days of the closing date of such Acquisition (or such later date as Agent may
agree), such Subsidiary shall be joined as a “Borrower” hereunder or as a Guarantor, as the Agent shall reasonably determine, and the Agent shall receive a first priority security interest (subject to Permitted Encumbrances that have
priority by operation of Law) in such Subsidiary’s Equity Interests, Inventory, Accounts and other property of the same nature as constitutes collateral under the Security Documents; and 

(i)    Either the Payment Conditions or the Investment and RP Conditions shall be satisfied as of the
closing date of such Acquisition. 
 “Permitted Discretion” means a determination made in good faith and in the exercise of
reasonable (from the perspective of a secured asset-based lender) business judgment. 
 “Permitted Disposition” means any of the
following: 
 (a)    Dispositions of inventory in the ordinary course of business; 

(b)    sales or other Dispositions by any Loan Party of assets in connection with the closing or sale of a
Store location of any Loan Party in the ordinary course of any Loan Party’s business which consist of bulk sales or other Dispositions of the Inventory, leasehold interests in the premises of such Store, the Equipment and fixtures located at
such premises and the books and records relating exclusively and directly to the operations of such Store; provided, that, as to each and all such sales and closings, (A) on the date of, 

  
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and after giving effect to, any such closing or sale, the aggregate number of Store locations closed or sold by Borrower in any Fiscal Year minus the number of Stores opened by Borrower in such
Fiscal Year, shall not exceed an amount equal to ten percent (10%) of the number of retail store locations of Borrower as of the end of the immediately preceding Fiscal Year, (B) Agent shall have received not less than ten (10) Business
Days prior written notice of such sale or closing, which notice shall set forth in reasonable detail satisfactory to Agent, the parties to such sale or other disposition, the assets to be sold or otherwise disposed of, the purchase price and the
manner of payment thereof and such other information with respect thereto as Agent may reasonably request, (C) after giving effect thereto, no Event of Default shall exist or have occurred and be continuing, and (D) such sale shall be on
commercially reasonable prices and terms in a bona fide arm’s length transaction. 

(c)    non-exclusive licenses of Intellectual Property of a Loan
Party or any of its Subsidiaries in the ordinary course of business; 
 (d)    licenses for the conduct
of licensed departments within the Loan Parties’ Stores in the ordinary course of business; 

(e)    Dispositions of Equipment in the ordinary course of business that is substantially worn, damaged,
obsolete or, in the judgment of a Loan Party, no longer useful or necessary in its business or that of any Subsidiary; 

(f)    sales, transfers and Dispositions among the Loan Parties or by any Subsidiary to a Loan Party; 

(g)    sales, transfers and Dispositions by any Subsidiary which is not a Loan Party to another Subsidiary
that is not a Loan Party; 
 (h)    Sale and Leaseback Transactions to the extent otherwise permitted by
Section 7.16; 
 (i)    the issuance and sale by Borrower of Equity Interests of Borrower after the
date hereof; provided, that, after giving effect thereto, no Change of Control shall exist or have occurred; 

(j)     the issuance of Equity Interests of Borrower consisting of common stock pursuant to a stock option
or stock grant or similar equity plan or 401(k) plans of Borrower and/or its Affiliates for the benefit of their respective employees, directors, officers and consultants, provided, that, in no event shall Borrower be required to issue, or shall
Borrower issue, Equity Interests pursuant to such stock plans or 401(k) plans which would result in a Change of Control or other Event of Default, 

(k)    the abandonment, sale or other disposition of Intellectual Property that is, in the reasonable good
faith judgment of the Borrower, no longer economically practicable to maintain or useful in the conduct of the business of the Borrower and its Subsidiaries; 

  
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 (l)    other sales or dispositions ; provided
that (i) the aggregate consideration received in respect of all such sales and other dispositions pursuant to this clause (l) shall not exceed
$10,000,00050,000,000
 in any period of twelve (12) consecutive months without
written consent of the Agent or $75,000,000 with written consent of the Agent, (ii) such sales or other dispositions are made for fair market value and on an
arm’s-length commercial basis, and (iii) at least 75% of the consideration payable in respect of such sales or other dispositions is in the form of cash or cash equivalents, provided further that, in connection with the disposition of any assets included in the Borrowing Base in excess of
$10,000,000 pursuant to this clause (l), the Borrower shall deliver an updated Borrowing Base Certificate giving effect to such disposition; 

(m)    leases, subleases, licenses or sublicenses of real or personal property in the ordinary course of
business so long as no such lease, sublease, license or sublicense adversely affects the Agent’s security interest in the asset or property subject thereto in any material respect; 

(n)    
any Dispositions constituting Permitted Investments and any Dispositions of Permitted Investments identified in clauses (a) through
 and including
(f) in
 the definition thereof; 
 (o)    any
Disposition that constitutes a Casualty Event; 
 (p)    any sale or other Disposition of accounts
receivable arising in the ordinary course of business in connection with the collection or compromise thereof and not as part of any financing transaction; and 

(q)    any sale or other Disposition of a distribution center. 

provided if any such Disposition includes the Disposition of Intellectual Property used or useful in connection with the
Collateral, the purchaser, assignee or other transferee thereof shall agree in writing to be bound by a non-exclusive royalty-free worldwide license of such Intellectual Property in favor of the Agent for use
in connection with the exercise of the rights and remedies of the Credit Parties, which license shall be in form and substance reasonably satisfactory to the Agent, and provided further that in the case of a Disposition of Intellectual
Property by the Loan Parties or any Subsidiary to a third party, the transferee thereof shall be required to provide such a license only to the extent to which the applicable license gives it a right to do so. 

“Permitted Encumbrances” means: 

(a)    Liens imposed by law for Taxes that are not yet due or are being contested in compliance with
Section 6.04; 
 (b)    carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s and other like Liens imposed by applicable Law, arising in the ordinary course of business and securing obligations that are not overdue or are being contested in compliance with
Section 6.04; 

  
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 (c)    pledges and deposits made in the ordinary course
of business in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations, other than any Lien imposed by ERISA; 

(d)    deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness),
statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(e)    Liens in respect of judgments that would not constitute an Event of Default hereunder; 

(f)    easements, covenants, conditions, restrictions, building code laws, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not
materially detract from the value of the affected property or materially interfere with the ordinary conduct of business of a Loan Party and such other minor title defects or survey matters that are disclosed by current surveys that, in each case,
do not materially interfere with the current use of the real property; 
 (g)    Liens existing on the
Closing Date and listed on Schedule 7.01 to the Disclosure Letter and any Permitted Refinancings thereof; 

(h)    (i) purchase money security interests in Equipment (including any embedded software or related
assets) and proceeds thereof (including finance leases to secure Indebtedness permitted under clause (c) of the definition of “Permitted Indebtedness”) and (ii) purchase money security interests (including finance leases) in the
distribution center (or any of its constituent parts), as applicable, or proceeds thereof to secure Indebtedness permitted under clause (c) of the definition of “Permitted Indebtedness”, in each case so long as such security interests
are limited to the assets acquired with such Indebtedness, or proceeds thereof and the Indebtedness secured thereby does not exceed the cost of the assets so acquired; 

(i)    Liens in favor of the Agent; 

(j)    statutory Liens of landlords and lessors in respect of rent which are not overdue or are being
contested in good faith by appropriate proceedings diligently pursued and available to Borrower and such Subsidiary and with respect to which adequate reserves have been set aside on its books to the extent required by GAAP; 

(k)    possessory Liens in favor of brokers and dealers arising in connection with the acquisition or
disposition of Investments owned as of the Closing Date and Permitted Investments, provided that such liens (a) attach only to such Investments and (b) secure only obligations incurred in the ordinary course and arising in
connection with the acquisition or disposition of such Investments and not any obligation in connection with margin financing; 

(l)    Liens arising solely by virtue of any statutory or common law provisions relating to banker’s
liens, liens in favor of securities intermediaries, rights of setoff or similar rights and remedies as to deposit accounts or securities accounts or other funds maintained with depository institutions or securities intermediaries; 

  
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 (m)    Liens arising from precautionary UCC filings
regarding “true” operating leases or, to the extent permitted under the Loan Documents, the consignment of goods to a Loan Party; 

(n)    voluntary Liens on property (other than property of the type included in the Borrowing Base) in
existence at the time such property is acquired pursuant to a Permitted Acquisition or on such property of a Subsidiary of a Loan Party in existence at the time such Subsidiary is acquired pursuant to a Permitted Acquisition; provided, that
such Liens are not incurred in connection with or in anticipation of such Permitted Acquisition and do not attach to any other assets of any Loan Party or any Subsidiary; 

(o)    Liens in favor of customs and revenues authorities imposed by applicable Law arising in the ordinary
course of business in connection with the importation of goods solely to the extent the following conditions are satisfied: (A) such Liens secure obligations that are being contested in good faith by appropriate proceedings, (B) the
applicable Loan Party or Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP and (C) such contest effectively suspends collection of the contested obligation and enforcement of any Lien securing
such obligation; 
 (p)     liens or rights of setoff against credit balances of Borrower or any of its
Subsidiaries with Credit Card Issuers or Credit Card Processors or amounts owing by such Credit Card Issuers or Credit Card Processors to Borrower or such Subsidiary in the ordinary course of business, but not liens on or rights of setoff against
any other property or assets of Borrower or such Subsidiary, pursuant to the Credit Card Agreements (as in effect on the date hereof) to secure the obligations of Borrower or such Subsidiary to the Credit Card Issuers or Credit Card Processors as a
result of fees and chargebacks; and 
 (q)    liens on property rented to, or leased by, the Borrower or
any of its Subsidiaries pursuant to a Sale and Leaseback Transaction and proceeds thereof; provided that (i) such Sale and Leaseback Transaction is permitted by Section 7.16, (ii) such liens do not encumber any other property of the
Borrower or any of its Subsidiaries, and (iii) such Liens secure only the Attributable Indebtedness incurred in connection with such Sale and Leaseback Transaction; 

“Permitted Indebtedness” means each of the following as long as no Default or Event of Default exists or would arise from the
incurrence thereof: 
 (a)    Indebtedness outstanding on the Closing Date and listed on Schedule 7.03 to
the Disclosure Letter and any Permitted Refinancing thereof; 
 (b)    (i) Indebtedness of any Loan Party
to any other Loan Party, (ii) Indebtedness of any Subsidiaries that are not Loan Parties to any other Subsidiaries that are not Loan Parties, and (iii) so long as no Default or Event of Default has occurred and is continuing or would
result from such Indebtedness and either the Payment Conditions or the Investment and RP Conditions are satisfied, Indebtedness of wholly-owned Subsidiaries that are not Loan Parties to any Loan Parties; 

  
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 (c)    (i) Indebtedness (including finance leases)
incurred after the date hereof to finance fixed or capital assets (including Equity Interests of any person owning the applicable fixed or capital assets) in an aggregate amount not to exceed (i) $25,000,000100,000,000
 at any time outstanding with respect to purchase money Indebtedness and finance leases related to assets other than one or more of the Borrower’s distribution centers and (ii) $50,000,000250,000,000
 with respect to purchase money Indebtedness and finance leases related to one of the Borrower’s distribution centers; provided, however, that, in the case of purchase money Indebtedness, (A) such
Indebtedness is incurred within ninety (90) days after such acquisition, installation, construction or improvement of such fixed or capital assets (including Equity Interests of any person owning the applicable fixed or capital assets) by such
person and (B) the amount of such Indebtedness does not exceed 100% of the cost of such acquisition, installation, construction or improvement, as the case may be; 

(d)    obligations (contingent or otherwise) of any Loan Party or any Subsidiary thereof existing or
arising under any Swap Contract, provided that such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with fluctuations in interest rates or
foreign exchange rates, and not for purposes of speculation or taking a “market view”; 

(e)    contingent liabilities under surety bonds or similar instruments incurred in the ordinary course of
business in connection with the construction or improvement of Stores; 
 (f)    Indebtedness with
respect to the deferred purchase price for any Permitted Acquisition, provided that such Indebtedness does not require the payment in cash of principal (other than in respect of working capital adjustments) prior to the Maturity Date,
has a maturity which extends beyond the Maturity Date, and is subordinated to the Obligations on terms reasonably acceptable to the Agent; 

(g)    Indebtedness of any Person that becomes a Subsidiary of a Loan Party in a Permitted Acquisition,
which Indebtedness is existing at the time such Person becomes a Subsidiary of a Loan Party (other than Indebtedness incurred solely in contemplation of such Person’s becoming a Subsidiary of a Loan Party); 

(h)    the Obligations; 

(i)    Indebtedness of any Subsidiary that is a non-Loan Party in
an aggregate outstanding principal amount not to exceed
$5,000,00025,000,000
 at any time outstanding for all such non-Loan Parties; provided that such Indebtedness is not directly or indirectly recourse to the Borrower or any of its
Subsidiaries or of their respective assets, other than to such non-Loan Party; 

(j)    Indebtedness representing deferred compensation to employees of the Borrower or any of its
Subsidiaries incurred in the ordinary course of business; 

  
 45 

 (k)    Indebtedness arising from the honoring by a bank
or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business; provided, however, that such Indebtedness is
extinguished within five (5) Business Days of incurrence; 
 (l)    Indebtedness arising in
connection with endorsement of instruments for deposit in the ordinary course of business; 

(m)    outstanding and unpaid trade payables incurred in the ordinary course of business of Borrower or any
of its Subsidiaries; 
 (n)    cash management obligations and other Indebtedness incurred in the
ordinary course of business in respect of netting services and similar arrangements in each case in connection with cash management and deposit accounts; 

(o)    all premiums (if any), interest (including post-petition interest), fees, expenses, charges and
additional or contingent interest (other than pay-in-kind interest) on obligations described in clauses (a) through (l) of this definition; 

(p)    Indebtedness arising from Permitted Investments; 

(q)    Guarantees by any Loan Party or any Subsidiary thereof of Indebtedness of any other Loan Party or
any Subsidiary thereof, provided that such Indebtedness is otherwise permitted by this definition; 

(r)    Indebtedness in respect of Sale and Leaseback Transactions to the extent otherwise permitted by
Section 7.16; and 

(rs)    Indebtedness not otherwise specifically
described herein in an aggregate principal amount not to exceed $25,000,000100,000,000 at any time outstanding. 

“Permitted Investments” means each of the following as long as no Default or Event of Default exists or would arise from the making
of such Investment: 
 (a)    readily marketable obligations issued or directly and fully guaranteed or
insured by the United States of America or any agency or instrumentality thereof having maturities of not more than 360 days from the date of acquisition thereof; provided that the full faith and credit of the United States of America is
pledged in support thereof; 
 (b)    commercial paper issued by any Person organized under the laws of
any state of the United States of America and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or at least “A-1” (or the then
equivalent grade) by S&P, in each case with maturities of not more than 180 days from the date of acquisition thereof; 

(c)    time deposits with, or insured certificates of deposit or bankers’ acceptances of, any
commercial bank that (i) (A) is a Lender or (B) is organized under the laws of the United States of America, any state thereof or the District of Columbia or is the principal 

  
 46 

 
banking subsidiary of a bank holding company organized under the laws of the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve
System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause (b) of this definition and (iii) has combined capital and surplus of at least $1,000,000,000, in each case with maturities of not more
than 180 days from the date of acquisition thereof; 
 (d)    Fully collateralized repurchase agreements
with a term of not more than thirty (30) days for securities described in clause (a) above (without regard to the limitation on maturity contained in such clause) and entered into with a financial institution satisfying the criteria
described in clause (c) above or with any primary dealer and having a market value at the time that such repurchase agreement is entered into of not less than 100% of the repurchase obligation of such counterparty entity with whom such
repurchase agreement has been entered into; 
 (e)    Investments, classified in accordance with GAAP as
current assets of the Loan Parties, in any money market fund that has the highest rating obtainable from either Moody’s or S&P; 

(f)    Investments by Borrower consistent with Borrower’s investment policy as in effect as of the
date hereof, or as approved by the Agent from time to
timeboard of directors of the Borrower;

 (g)     Investments existing on the Closing Date, and set forth on Schedule 7.02 to the
Disclosure Letter, but not any increase in the amount thereof or any other modification of the terms thereof; 

(h)    (i) Investments by any Loan Party and its Subsidiaries in their respective Subsidiaries outstanding
on the Closing Date, (ii) additional Investments by any Loan Party and its Subsidiaries in Loan Parties, (iii) additional Investments by Subsidiaries of the Loan Parties that are not Loan Parties in other Subsidiaries that are not Loan
Parties and (iv) so long as no Default or Event of Default has occurred and is continuing or would result from such Investment
and, unless Borrowings are not being used for such Investment, the
Payment Conditions are satisfied, additional Investments by the Loan Parties in wholly-owned Subsidiaries that are not Loan Parties; provided that to the extent such Investment includes Intellectual Property material and necessary for the
operation of the assets of the Loan Parties and their Subsidiaries, taken as a whole, which constitute Collateral, such Intellectual Property shall be subject to a non-exclusive royalty-free worldwide license
in favor of the Agents for the purpose of the Agents’ exercise of rights and remedies under this Agreement in connection with the Collateral; 

(i)    Investments consisting of extensions of credit in the nature of accounts receivable or notes
receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary in order to
prevent or limit loss; 

  
 47 

 (j)    Guarantees constituting Permitted Indebtedness;

 (k)    Investments by any Loan Party in Swap Contracts entered into in the ordinary course of business
and for bona fide business (and not speculative purposes) to protect against fluctuations in interest rates in respect of the Obligations; 

(l)    Investments received in connection with the bankruptcy or reorganization of, or settlement of
delinquent accounts and disputes with, customers and suppliers, in each case in the ordinary course of business; 

(m)    advances to officers, directors and employees of the Loan Parties and Subsidiaries in the ordinary
course of business (i) with respect to advances incident to
hiring or relocation expenses, in the aggregate for all such directors, employees or officers, not to exceed $500,000 at any time outstanding and
(ii) with respect to all other advances
(including, without limitation) for travel, entertainment, and analogous ordinary business purposes, in the aggregate for all such directors, employees or officers, not to exceed $250,000 at any time outstanding; 
 (n)    Investments constituting Permitted Acquisitions;

 (o)    Capital contributions made by any Loan Party to another Loan Party; 

(p)    Investments in securities of trade creditors or customers in the ordinary course of business that
are received in settlement of bona fide disputes or pursuant to any plan of reorganization or liquidation or similar arrangement upon the bankruptcy or insolvency of such trade creditors or customers; 

(q)    so long as no Default or Event of Default then exists or would result therefrom, the Borrower and
its Subsidiaries may make Investments that are made in exchange for the substantially concurrent sale of Equity Interests of the Borrower permitted to be issued by it hereunder; 

(r)    promissory notes or other obligations of directors, officers or other employees of the Borrower or
any of its Subsidiaries in connection with such directors’, officers’ or employees’ purchase of Equity Interests of the Borrower or any direct or indirect parent thereof, so long as no cash is advanced by the Borrower or any of its
Subsidiaries in connection with such Investment; 
 (s) Investments that may arise as a result of the consummation of Sale
and Leaseback Transactions permitted under Section 7.16; 
 (t)    so long as no Default or Event of
Default then exists or would result therefrom, the Borrower and its Subsidiaries may make Investments that are made in exchange for the substantially concurrent sale of Equity Interests of the Borrower permitted to be issued by it hereunder; 

(u)    Investments of any person that becomes a Subsidiary on or after the Closing Date in an aggregate
amount for all such Subsidiaries not to exceed
$15,000,00050,000,000
 

  
 48 

 
on the date such person becomes a Subsidiary; provided that (i) such Investments exist at the time such person is acquired, (ii) such Investments are not made in anticipation or
contemplation of such person becoming a Subsidiary, and (iii) such Investments are not directly or indirectly recourse to the Borrower or any of its Subsidiaries or any of their respective assets, other than to the person that becomes a
Subsidiary; 
 (v)    Guarantees of obligations of the Borrower or any Subsidiary that do not constitute
Indebtedness; 
 (w)    Investments in Affiliates of the Borrower as of the Closing Date (x) not exceeding $10,000,000 made within 60 days of the Closing Date and (y) an additional amount which, taken together with the amount invested
pursuant to clause (x) of this paragraph shall
not exceed $20,000,000 in the aggregate, so long as on the date of such Investment,
if Borrowings are to be used for such Investment, the
Payment Conditions are met, in each case, provided that the amount of such Investment shall be the cost thereof when made, notwithstanding any subsequent change in value; 
 (x)    Investments not exceeding $100,000,000250,000,000
 in the aggregate so long as on the date of such Investment, either
the Payment Conditions are metor the Investment and RP Conditions shall be satisfied, provided that
the amount of such Investment shall be the cost thereof when made, notwithstanding any subsequent change in value; 

(y)    other Investments not otherwise specifically described herein and not exceeding $15,000,000100,000,000
 in the aggregate at any time outstanding; and 
 (xz)     so long as on the date of such Investment either
the Payment Conditions or the Investment and RP Conditions are satisfied, any Investments.; 

provided, however, that notwithstanding the foregoing, after the occurrence and during the continuance of a Cash Dominion Event, no such
Investments specified in clauses (a) through (f), and clauses (w) through (y) shall be permitted unless (i) either (A) no Loans, or Letters of Credit that have not been Cash Collateralized to the extent required to be Cash
Collateralized, are then outstanding, or (B) the Investment is a temporary Investment pending expiration of an Interest Period for a LIBOR Rate Loan, the proceeds of which Investment will be applied to the Obligations after the expiration of
such Interest Period, and (ii) such Investments shall be pledged to the Agent as additional collateral for the Obligations pursuant to such agreements as may be reasonably required by the Agent. 

“Permitted Overadvance” means an Overadvance made by the Agent, in its reasonable discretion, which: 

(a)    Is made to maintain, protect or preserve the Collateral and/or the Credit Parties’ rights under
the Loan Documents or which is otherwise for the benefit of the Credit Parties; or 
 (b)    Is made to
enhance the likelihood of, or to maximize the amount of, repayment of any Obligation; 

  
 49 

 (c)    Is made to pay any other amount chargeable to any
Loan Party hereunder; and 
 (d)    Together with all other Permitted Overadvances then outstanding,
shall not (i) exceed 10.0 percent (10%) of the Borrowing Base at any time or (ii) unless a Liquidation is occurring, remain outstanding for more than forty-five (45) consecutive Business Days, unless in each case, the Required
Lenders otherwise agree. 
 provided however, that the foregoing shall not (i) modify or abrogate any of the provisions of
Section 2.03 regarding the Lenders’ obligations with respect to Letters of Credit or Section 2.04 regarding the Lenders’ obligations with respect to Swing Line Loans, or (ii) result
in any claim or liability against the Agent (regardless of the amount of any Overadvance) for Unintentional Overadvances and such Unintentional Overadvances shall not reduce the amount of Permitted Overadvances allowed hereunder, and further
provided that in no event shall the Agent make an Overadvance, if after giving effect thereto, the principal amount of the Credit Extensions would exceed the Aggregate Commitments (as in effect prior to any termination of the Commitments
pursuant to Section 2.06 or Section 8.02 hereof). 
 “Permitted Refinancing”
means, with respect to any Person, any Indebtedness issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund (collectively, to “Refinance”), the Indebtedness being
Refinanced (or previous refinancings thereof constituting a Permitted Refinancing); provided, that (a) the principal amount (or accreted value, if applicable) of such Permitted Refinancing does not exceed the principal amount (or
accreted value, if applicable) of the Indebtedness so Refinanced (plus unpaid accrued interest and premiums thereon and underwriting discounts, defeasance costs, fees, commissions and expenses), (b) the weighted average life to maturity of such
Permitted Refinancing is greater than or equal to the weighted average life to maturity of the Indebtedness being Refinanced (c) such Permitted Refinancing shall not require any scheduled principal payments due prior to the Maturity Date,
(d) if the Indebtedness being Refinanced is subordinated in right of payment to the Obligations under this Agreement, such Permitted Refinancing shall be subordinated in right of payment to such Obligations on terms at least as favorable to the
Credit Parties as those contained in the documentation governing the Indebtedness being Refinanced (e) no Permitted Refinancing shall have direct or indirect obligors who were not also obligors of the Indebtedness being Refinanced, or greater
guarantees or security, than the Indebtedness being Refinanced, (f) such Permitted Refinancing shall be otherwise on terms not materially less favorable to the Credit Parties than those contained in the documentation governing the Indebtedness
being Refinanced, including, without limitation, with respect to financial and other covenants and events of default, (g) the interest rate applicable to any such Permitted Refinancing shall not exceed the then applicable market interest rate,
and (h) at the time thereof, no Event of Default shall have occurred and be continuing. 
 “Person” means any natural person,
corporation, limited liability company, trust, joint venture, association, company, partnership, limited partnership, Governmental Authority or other entity. 

  
 50 

 “Plan” means any “employee benefit plan” (as such term is defined in
Section 3(3) of ERISA) established 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 ERISA Affiliate, other than a Multiemployer Plan. 

“Platform” has the meaning specified in Section 6.02. 

“Portal” has the meaning specified in Section 2.02. 

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

“Qualified ECP Guarantor” means, in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000 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. 

“Real Estate” means all Leases and all land, together with the buildings, structures, parking areas, and other improvements thereon,
now or hereafter owned by any Loan Party, including all easements, rights-of-way, and similar rights relating thereto and all leases, tenancies, and occupancies thereof.

 “Register” has the meaning specified in Section 10.06(c). 

“Registered Public Accounting Firm” has the meaning specified by the Securities Laws and shall be independent of the Borrower and
its Subsidiaries as prescribed by the Securities Laws. 
 “Related Parties” means, with respect to any Person, such Person’s
Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 

“Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially
endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto. 
 “Reportable
Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived. 

“Reports” has the meaning provided in Section 9.12(b). 

“Request for Credit Extension” means (a) with respect to a Committed Borrowing, conversion or continuation of Committed Loans,
an electronic notice via the Portal or LIBOR Rate Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application and, if required by the L/C Issuer, a Standby Letter of Credit Agreement or Commercial Letter of Credit
Agreement, as applicable, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice. 

  
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 “Required Lenders” means, as of any date of determination, at least two Lenders
that are not Affiliates (or one (1) Lender to the extent that there is only one (1) Lender) holding more than 50% of the Aggregate Commitments or, if the commitment of each Lender to make Loans and the obligation of the L/C Issuer to make
L/C Credit Extensions have been terminated pursuant to Section 8.02, Lenders holding in the aggregate more than 50% of the Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded
participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this definition); provided that the 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. 
 “Reserves” means all Inventory Reserves
and Availability Reserves. 
 “Responsible Officer” means the chief executive officer, president, chief financial officer,
treasurer, assistant treasurer or secretary of a Loan Party or any of the other individuals designated in writing to the Agent by an existing Responsible Officer of a Loan Party as an authorized signatory of any certificate or other document to be
delivered hereunder, including, with respect to the Portal, any person authorized and authenticated through the Portal in accordance with the Agent’s procedures for such authentication. 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 and/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. 
 “Restricted Payment” means any dividend or other distribution (whether in cash, securities
or other property) with respect to any capital stock or other Equity Interest of any Person or any of its Subsidiaries, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the
purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to such Person’s stockholders, partners or members (or the
equivalent of any thereof), or any option, warrant or other right to acquire any such dividend or other distribution or payment. Without limiting the foregoing, “Restricted Payments” with respect to any Person shall also include all
payments made by such Person with any proceeds of a dissolution or liquidation of such Person. 
 “S&P” means
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and any successor thereto. 
 “Sale and
Leaseback Transactions” shall have the meaning set forth in Section 7.16. 
 “Sanctioned Entity” means (a) a
country or a government of a country, (b) an agency of the government of a country, (c) an organization directly or indirectly controlled by a country or its government, or (d) a Person resident in or determined to be resident in a
country, in each case of clauses (a) through (d) that is a target of Sanctions, including a target of any country sanctions program administered and enforced by OFAC. 

“Sanctioned Person” means, at any time (a) any Person named on the list of Specially Designated Nationals and Blocked Persons
maintained by OFAC, OFAC’s consolidated Non-SDN 

  
 52 

 
list or any other Sanctions-related list maintained by any Governmental Authority, (b) a Person or legal entity that is a target of Sanctions, (c) any Person operating, organized or
resident in a Sanctioned Entity, or (d) any Person directly or indirectly owned or controlled (individually or in the aggregate) by or acting on behalf of any such Person or Persons described in clauses (a) through (c) above. 

“Sanctions” means individually and collectively, respectively, any and all economic sanctions, trade sanctions, financial sanctions,
sectoral sanctions, secondary sanctions, trade embargoes anti-terrorism laws and other sanctions laws, regulations or embargoes, including those imposed, administered or enforced from time to time by: (a) the United States of America, including
those administered by OFAC, the U.S. Department of State, the U.S. Department of Commerce, or through any existing or future executive order, (b) the United Nations Security Council, (c) the European Union or any European Union member
state, (d) Her Majesty’s Treasury of the United Kingdom, or (e) any other Governmental Authority with jurisdiction over any Lender or any Loan Party or any of their respective Subsidiaries or Affiliates. 

“Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions. 

“Secured Bank Products” means, as of any date of determination by the Agent, any Bank Product that is the subject of any document,
instrument or agreement entered into by any Loan Party or any Subsidiary and any Lender or Affiliate of a Lender that such Lender (other than Wells Fargo) or Affiliate of such Lender has designated as a “Secured Bank Product” in a notice
delivered to the Agent and signed by such Lender or Affiliate of such Lender and the Borrower, together with such supporting documentation as the Agent may request. 

“Secured Cash Management Services” means, as of any date of determination by the Agent, any Cash Management Service that is the
subject of any document, instrument or agreement entered into by any Loan Party or any Subsidiary and any Lender or Affiliate of a Lender that such Lender (other than Wells Fargo) or Affiliate of such Lender has designated as a “Secured Cash
Management Service” in a notice delivered to the Agent and signed by such Lender or Affiliate of such Lender and the Borrower, together with such supporting documentation as the Agent may request. 

“Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of 1934, Sarbanes-Oxley, and the applicable
accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the PCAOB. 

“Security Agreement” means the Security Agreement dated as of the Closing Date among the Loan Parties and the Agent, as the same now
exists or may hereafter be amended, modified, supplemented, renewed, restated or replaced. 
 “Security Documents” means the
Security Agreement, the Intellectual Property Security Agreement, the Blocked Account Agreements, the Credit Card Notifications, and each other security agreement or other instrument or document executed and delivered to the Agent pursuant to this
Agreement or any other Loan Document granting a Lien to secure any of the Obligations. 

  
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 “Settlement Date” has the meaning provided in
Section 2.14(a). 
 “Shareholders’ Equity” means, as of any date of determination, consolidated
shareholders’ equity of the Borrower and its Subsidiaries as of that date determined in accordance with GAAP. 
 “Shrink”
means Inventory which has been lost, misplaced, stolen, or is otherwise unaccounted for. 
 “SOFR” with respect to any day means
the secured overnight financing rate published for such day by the Federal Reserve Bank of New York, as the administrator of the benchmark, (or a successor administrator) on the Federal Reserve Bank of New York’s Website. 

“Solvent” and “Solvency” means, with respect to any Person as of any date of determination, that (a) at fair
valuations, the sum of such Person’s debts (including contingent liabilities) is less than all of such Person’s assets, (b) such Person is not engaged or about to engage in a business or transaction for which the remaining assets of
such Person are unreasonably small in relation to the business or transaction or for which the property remaining with such Person is an unreasonably small capital, and (c) such Person has not incurred and does not intend to incur, or
reasonably believe that it will incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise), and (d) such Person is “solvent” or not “insolvent”, as applicable within the meaning
given those terms and similar terms under applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any contingent liability at any time shall be computed as the amount that, in light of all of
the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of
Financial Accounting Standard No. 5). 
 “Standard Letter of Credit Practice” means, for the L/C Issuer, any domestic or
foreign Law or letter of credit practices applicable in the city in which the L/C Issuer issued the applicable Letter of Credit or, for its branch or correspondent, such Laws and practices applicable in the city in which it has advised, confirmed or
negotiated such Letter of Credit, as the case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are
required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit. 
 “Standby Letter of Credit” means any
Letter of Credit that is not a Commercial Letter of Credit and that (a) is used in lieu or in support of performance guaranties or performance, surety or similar bonds (excluding appeal bonds) arising in the ordinary course of business,
(b) is used in lieu or in support of stay or appeal bonds, (c) supports the payment of insurance premiums for reasonably necessary casualty insurance carried by any of the Loan Parties, or (d) supports payment or performance for
identified purchases or exchanges of products or services in the ordinary course of business. 
 “Standby Letter of Credit
Agreement” means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer. 

  
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 “Stated Amount” means at any time the maximum amount for which a Letter of Credit
may be honored. 
 “Stepdown Date” means the first date occurring after both (i) the date that 75% of the number of Stores as of the Closing Date have reopened (the “Store Reopening Date”) and (ii) the date that is not less than six (6) months following the Store Reopening Date that the Consolidated Fixed Charge Coverage Ratio is equal to at least 1.00 to 1.00, provided that for the purpose of calculating the Consolidated Fixed Charge Coverage Ratio to determine the Stepdown Date, (x) if fewer than four consecutive Fiscal Quarters of the Borrower have
been completed since the Store Reopening
Date, the Agent shall use the Fiscal Quarters of
the Borrower that have been completed since the
Store Reopening Date as the Measurement Period to calculate the Consolidated Fixed Charge Coverage Ratio on a pro
forma basis and (y) Capital Expenditures (but in any event in an amount not to exceed 10%
of all Capital Expenditures for the applicable Measurement Period) related to new Stores shall be excluded from such calculation.  
 “Store” means any retail store (which may include any real property, fixtures,
equipment, inventory and other property related thereto) operated, or to be operated, by any Loan Party. 
 “Store Reopening Date” has the meaning specified in the definition of “Stepdown Date.” 

“Subordinated Indebtedness” means Indebtedness which is expressly subordinated in right of payment to the prior payment in full of
the Obligations and which is in form and on terms approved in writing by the Agent. 
 “Subordination Provisions” has the meaning
specified in Section 8.01(q). 
 “Subsidiary” of a Person means a corporation, partnership, joint
venture, limited liability company or other business entity of which a majority of the Equity Interests having ordinary voting power for the election of directors or other governing body are at the time beneficially owned, or the management of which
is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or
Subsidiaries of a Loan Party. 
 “Supermajority Lenders” means, as of any date of determination, at least two Lenders that are not
Affiliates (or one (1) Lender to the extent that there is only one (1) Lender) holding more than 66-2/3% of the Aggregate Commitments or, if the commitment of each Lender to make Loans and the
obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02, Lenders holding in the aggregate more than 66-2/3% of the Total Outstandings
(with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this definition); provided that the 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 Supermajority Lenders. 

“Swap Contract” 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,

  
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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. 
 “Swap Obligation” means, with respect to any Loan Party, 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. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally
enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and
(b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based
upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.04. 

“Swing Line Lender” means Wells Fargo, in its capacity as provider of Swing Line Loans, or any successor swing line lender
hereunder. 
 “Swing Line Loan” has the meaning specified in Section 2.04(a). 

“Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which, if
in writing, shall be substantially in the form of Exhibit B. 
 “Swing Line Note” means the promissory note of the Borrower
substantially in the form of Exhibit C-2, payable to the order of the Swing Line Lender, evidencing the Swing Line Loans made by the Swing Line Lender. 

“Swing Line Sublimit” means an amount equal to the lesser of (a) $20,000,000 and (b) the Aggregate Commitments. The Swing Line
Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 “Synthetic Lease Obligation” means the monetary
obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property
(including sale and leaseback transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person, would be characterized as the
indebtedness of such Person (without regard to accounting treatment). 

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

“Term SOFR” means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental
Body. 
 “Termination Date” means the earliest to occur of (i) the Maturity Date, (ii) the date on which the maturity of
the Obligations is accelerated (or deemed accelerated) and the Commitments are irrevocably terminated (or deemed terminated) in accordance with Article VII, or (iii) the termination of the Commitments in accordance with the provisions of
Section 2.06(a) hereof. 
 “Total Outstandings” means the aggregate Outstanding Amount of all Loans and
all L/C Obligations. 
 “Trading with the Enemy Act” has the meaning set forth in Section 10.18. 

“Type” means, with respect to a Committed Loan, its character as a Base Rate Loan or a LIBOR Rate Loan. 

“UCC” or “Uniform Commercial Code” means the Uniform Commercial Code as in effect from time to time in the State of New
York; provided, however, that if a term is defined in Article 9 of the Uniform Commercial Code differently than in another Article thereof, the term shall have the meaning set forth in Article 9; provided further that, if by reason of mandatory
provisions of law, perfection, or the effect of perfection or non-perfection, of a security interest in any Collateral or the availability of any remedy hereunder is governed by the Uniform Commercial Code as
in effect in a jurisdiction other than the State of New York, “Uniform Commercial Code” means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such perfection or effect
of perfection or non-perfection or availability of such remedy, as the case may be. 

“UCP” means, with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits 2007 Revision,
International Chamber of Commerce Publication No. 600 and any version or revision thereof accepted by the L/C Issuer for use. 

“UFCA” has the meaning specified in Section 10.21(d). 

“UFTA” has the meaning specified in Section 10.21(d). 

“Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment. 

“Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA,
over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. 

  
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 “Unintentional Overadvance” means an Overadvance which, to the Agent’s
knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Credit Parties, including, without limitation, a reduction in the Appraised Value of property
or assets included in the Borrowing Base, increase in Reserves or misrepresentation by the Loan Parties. 
 “United States” and
“U.S.” mean the United States of America. 
 “Weekly Borrowing Base Delivery Event” means either (i) the occurrence
and continuance of any Event of Default, or (ii) the failure of the Borrower to maintain Availability at leastwhen Total Outstandings are equal to seventeen and one-halfor
greater than fifty percent (17.550%) of the Loan CapAggregate
Commitments. For purposes of this Agreement, the occurrence of a Weekly Borrowing Base Delivery Event shall be deemed continuing at the Agent’s option (i) so long as such Event of
Default has not been waived, and/or (ii) if the Weekly Borrowing Base Delivery Event arises as a result of the Borrower’s failure to achieve Availability as required hereunder, until
Availability has exceeded seventeen and one-halfTotal Outstandings being equal to or greater than fifty
percent (50%) of the Aggregate Commitments, until the Total Outstandings are less than fifty percent
(17.550
%) of the Loan
CapAggregate Commitments for more than forty-five (45) consecutive calendar days, in which case
a Weekly Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Weekly Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a
subsequent Weekly Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise. 

“Wells Fargo” means Wells Fargo Bank, National Association and its successors. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such
EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU
Bail-In Legislation Schedule. 
 1.02    Other Interpretive
Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 

(a)    The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be
followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or
reference to any agreement, instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject
to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan 

  
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Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words “herein,”
“hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof, (iv) all
references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which such references appear, (v) any reference to any law
shall include all statutory and regulatory provisions consolidating, amending replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or
supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties,
including cash, securities, accounts and contract rights. 
 (b)    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.” 
 (c)    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. 

(d)    Any reference herein or in any other Loan Document to the satisfaction, repayment, or payment in
full of the Obligations shall mean the repayment in Dollars in full in cash or immediately available funds (or, in the case of contingent reimbursement obligations with respect to Letters of Credit and Bank Products (other than Swap Contracts) and
any other contingent Obligation, including indemnification obligations, providing Cash Collateralization) or other collateral as may be requested by the Agent of all of the Obligations (including the payment of any termination amount then applicable
(or which would or could become applicable as a result of the repayment of the other Obligations) under Swap Contracts) other than (i) unasserted contingent indemnification Obligations, (ii) any Obligations relating to Bank Products (other
than Swap Contracts) that, at such time, are allowed by the applicable Bank Product provider to remain outstanding without being required to be repaid or Cash Collateralized or other collateral as may be requested by the Agent, and (iii) any
Obligations relating to Swap Contracts that, at such time, are allowed by the applicable provider of such Swap Contracts to remain outstanding without being required to be repaid. 

1.03    Accounting Terms 

(a)    Generally. All accounting terms not specifically or completely defined herein shall be
construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in
effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. 

  
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 (b)    Changes in GAAP. If at any time any change
in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Agent, the Lenders and the Borrower shall negotiate in good faith to
amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall
continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide to the Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested
hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. 

1.04    Rounding. Any financial ratios required to be maintained by the Borrower pursuant to this Agreement
shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with
a rounding-up if there is no nearest number). 
 1.05    Times of
Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 

1.06    Letter of Credit Amounts. Unless otherwise specified, all references herein to the amount of a
Letter of Credit at any time shall be deemed to be the Stated Amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms of any Issuer Documents 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 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. 
 1.07    Divisions. For all purposes under the Loan Documents,
in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or
liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the
first date of its existence by the holders of its Equity Interests at such time. 
 1.08    Effect of
Benchmark Transition Event. 
 (a)    Benchmark Replacement. Notwithstanding anything to the
contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, Agent and Borrower may amend this Agreement to replace the LIBOR
Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after Agent has posted such proposed amendment to all Lenders and Borrower so long
as Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. Any such amendment 

  
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with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to Agent written
notice that such Required Lenders accept such amendment. No replacement of the LIBOR Rate with a Benchmark Replacement pursuant to this Section 1.08 will occur prior to the applicable Benchmark Transition Start Date. 

(b)    Benchmark Replacement Conforming Changes. In connection with the implementation of a
Benchmark Replacement, Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark
Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement. 

(c)    Notices; Standards for Decisions and Determinations. Agent will promptly notify Borrower and
the Lenders of (1) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition Start Date, (2) the
implementation of any Benchmark Replacement, (3) the effectiveness of any Benchmark Replacement Conforming Changes and (4) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that
may be made by Agent or Lenders pursuant to this Section 1.08 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, 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 hereto, except, in
each case, as expressly required pursuant to this Section 1.08. 

(d)    Benchmark Unavailability Period. Upon Borrower’s receipt of notice of the commencement
of a Benchmark Unavailability Period, Borrower may revoke any request for a LIBOR Borrowing of, conversion to or continuation of LIBOR Rate Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that,
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, the component of Base Rate based upon the LIBOR Rate will not be used in any
determination of the Base Rate. 
 ARTICLE II 

THE COMMITMENTS AND CREDIT EXTENSIONS 

2.01    Committed Loans; Reserves. (a) Subject to the terms and conditions set forth herein, each
Lender severally agrees to make loans (each such loan, a “Committed Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the
lesser of (x) the amount of such Lender’s Commitment, or (y) such Lender’s Applicable Percentage of the Borrowing Base; subject in each case to the following limitations: 

(i)    after giving effect to any Committed Borrowing, the Total Outstandings shall not exceed the Loan
Cap, 

  
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 (ii)    after giving effect to any Committed Borrowing,
the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all
Swing Line Loans shall not exceed such Lender’s Commitment, 
 (iii)    The Outstanding Amount of
all L/C Obligations shall not at any time exceed the Letter of Credit Sublimit 
 Within the limits of each Lender’s Commitment, and subject to the
other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Committed Loans may be
Base Rate Loans or LIBOR Rate Loans, as further provided herein. 
 (b)    The Inventory Reserves and
Availability Reserves as of the Closing Date are set forth in the Borrowing Base Certificate delivered pursuant to Section 4.01(c) hereof. 

(c)    The Agent shall have the right, at any time and from time to time after the Closing Date in its
Permitted Discretion to establish, modify or eliminate Reserves. 
 2.02    Borrowings, Conversions and Continuations
of Committed Loans. 
 (a)    Committed Loans (other than Swing Line Loans) shall be either Base Rate
Loans or LIBOR Rate Loans as the Borrower may request subject to and in accordance with this Section 2.02. All Swing Line Loans shall be only Base Rate Loans. Subject to the other provisions of this
Section 2.02, Committed Borrowings of more than one Type may be incurred at the same time. 

(b)    Each request for a Committed Borrowing consisting of a Base Rate Loan shall be made by electronic
request of the Borrower through Agent’s Commercial Electronic Office Portal or through such other electronic portal provided by Agent (the “Portal”), which must be received by the Agent not later than 2:00 p.m. on the requested date
of any Borrowing of Base Rate Loans. The Borrower hereby acknowledges and agrees that any request made through the Portal shall be deemed made by a Responsible Officer of the Borrower. Each request for a Committed Borrowing consisting of a LIBOR
Rate Loan shall be made pursuant to the Borrower’s submission of a LIBOR Rate Loan Notice, which must be received by the Agent not later than 11:00 a.m. one (1) Business Day prior to the requested date of any Borrowing or continuation of
LIBOR Rate Loans. Each LIBOR Rate Loan Notice shall specify (i) the requested date of the Borrowing or continuation, as the case may be (which shall be a Business Day), (ii) the principal amount of LIBOR Rate Loans to be borrowed or continued
(which shall be in a principal amount of $1,000,000 or a whole multiple of $250,000 in excess thereof), and (iii) the duration of the Interest Period with respect thereto. If the Borrower fails to specify an Interest Period, it will be deemed
to have specified an Interest Period of one month. On the requested date of any LIBOR Rate Loan, (i) in the event that Base Rate Loans are outstanding in an amount equal to or greater than the requested LIBOR Rate Loan, all or a portion of such
Base Rate Loans shall be automatically converted to a LIBOR Rate Loan in the amount 

  
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requested by the Borrower, and (ii) if Base Rate Loans are not outstanding in an amount at least equal to the requested LIBOR Rate Loan, the Borrower shall make an electronic request via the
Portal for additional Base Rate Loans in an such amount, when taken with the outstanding Base Rate Loans (which shall be converted automatically at such time), as is necessary to satisfy the requested LIBOR Rate Loan. If the Borrower fails to make
such additional request via the Portal as required pursuant to clause (ii) of the foregoing sentence, then the Borrower shall be responsible for all amounts due pursuant to Section 3.05 hereof arising on account of
such failure. If the Borrower fails to give a timely notice with respect to any continuation of a LIBOR Rate Loan, then the applicable Committed Loans shall be converted to Base Rate Loans, effective as of the last day of the Interest Period then in
effect with respect to the applicable LIBOR Rate Loans. 
 (c)    The Agent shall promptly notify each
Lender of the amount of its Applicable Percentage of the applicable Committed Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Agent shall notify each Lender of the details of any automatic conversion
to Base Rate Loans described in Section 2.02(b). In the case of a Committed Borrowing, each Lender shall make the amount of its Committed Loan available to the Agent in immediately available funds at the Agent’s Office
not later than 1:00 p.m. on the Business Day specified in the applicable notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension,
Section 4.01), the Agent shall use reasonable efforts to make all funds so received available to the Borrower in like funds by no later than 4:00 p.m. on the day of receipt by the Agent either by (i) crediting the
account of the Borrower on the books of Wells Fargo with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Agent by the Borrower. 

(d)    The Agent, without the request of the Borrower, may advance any interest, fee, service charge
(including direct wire fees), Credit Party Expenses, or other payment to which any Credit Party is entitled from the Loan Parties pursuant hereto or any other Loan Document and may charge the same to the Loan Account notwithstanding that an
Overadvance may result thereby. The Agent shall advise the Borrower of any such advance or charge promptly after the making thereof. Such action on the part of the Agent shall not constitute a waiver of the Agent’s rights and the
Borrower’s obligations under Section 2.05(c). Any amount which is added to the principal balance of the Loan Account as provided in this Section 2.02(d) shall bear interest at the interest
rate then and thereafter applicable to Base Rate Loans. 
 (e)    Except as otherwise provided herein, a
LIBOR Rate Loan may be continued or converted only on the last day of an Interest Period for such LIBOR Rate Loan. During the existence of a Default or an Event of Default, no Loans may be requested as, converted to or continued as LIBOR Rate Loans
without the Consent of the Required Lenders. 
 (f)    The Agent shall promptly notify the Borrower and
the Lenders of the interest rate applicable to any Interest Period for LIBOR Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, the Agent shall notify the Borrower and the Lenders of any change in
Wells Fargo’s prime rate used in determining the Base Rate promptly following the public announcement of such change. 

  
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 (g)    After giving effect to all Committed Borrowings,
all conversions of Committed Loans from one Type to the other, and all continuations of Committed Loans as the same Type, there shall not be more than five Interest Periods in effect with respect to LIBOR Rate Loans. 

(h)    The Agent, the Lenders, the Swing Line Lender and the L/C Issuer shall have no obligation to make
any Loan or to provide any Letter of Credit if an Overadvance would result. The Agent may, in its reasonable discretion, make Permitted Overadvances without the consent of the Borrower, the Lenders, the Swing Line Lender and the L/C Issuer and the
Borrower and each Lender and L/C Issuer shall be bound thereby. Any Permitted Overadvance may constitute a Swing Line Loan. A Permitted Overadvance is for the account of the Borrower and shall constitute a Base Rate Loan and an Obligation and shall
be repaid by the Borrower in accordance with the provisions of Section 2.05(c). The making of any such Permitted Overadvance on any one occasion shall not obligate the Agent or any Lender to make or permit any Permitted
Overadvance on any other occasion or to permit such Permitted Overadvances to remain outstanding. The making by the Agent of a Permitted Overadvance shall not modify or abrogate any of the provisions of Section 2.03
regarding the Lenders’ obligations to purchase participations with respect to Letter of Credits or of Section 2.04 regarding the Lenders’ obligations to purchase participations with respect to Swing Line Loans.
The Agent shall have no liability for, and no Loan Party or Credit Party shall have the right to, or shall, bring any claim of any kind whatsoever against the Agent with respect to Unintentional Overadvances regardless of the amount of any such
Overadvance(s). 
 2.03    Letters of Credit. 

(a)    Subject to the terms and conditions of this Agreement, upon the request of the Borrower made in
accordance herewith, and prior to the Maturity Date, the L/C Issuer agrees to issue a requested Letter of Credit for the account of the Loan Parties. By submitting a request to the L/C Issuer for the issuance of a Letter of Credit, the Borrower
shall be deemed to have requested that the L/C Issuer issue the requested Letter of Credit. Each request for the issuance of a Letter of Credit, or the amendment, renewal, or extension of any outstanding Letter of Credit, shall be
(i) irrevocable and be made in writing pursuant to a Letter of Credit Application by a Responsible Officer, (ii) delivered to the L/C Issuer and the Agent via telefacsimile or other electronic method of transmission reasonably acceptable
to the L/C Issuer not later than 11:00 a.m. at least two Business Days (or such other date and time as the Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the requested date of issuance, amendment,
renewal, or extension, and (iii) subject to the L/C Issuer’s authentication procedures with results satisfactory to the L/C Issuer. Each such request shall be in form and substance reasonably satisfactory to the Agent and the L/C Issuer
and (i) shall specify (A) the amount of such Letter of Credit, (B) the date of issuance, amendment, renewal, or extension of such Letter of Credit, (C) the proposed expiration date of such Letter of Credit, (D) the name and
address of the beneficiary of the Letter of Credit, and (E) such other information (including, 

  
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the conditions to drawing, and, in the case of an amendment, renewal, or extension, identification of the Letter of Credit to be so amended, renewed, or extended) as shall be necessary to
prepare, amend, renew, or extend such Letter of Credit, and (ii) shall be accompanied by such Issuer Documents as the Agent or the L/C Issuer may request or require, to the extent that such requests or requirements are consistent with the
Issuer Documents that the L/C Issuer generally requests for Letters of Credit in similar circumstances. The Agent’s records of the content of any such request will be conclusive. 

(b)    The L/C Issuer shall have no obligation to issue a Letter of Credit if, after giving effect to the
requested issuance, (i) the Total Outstandings would exceed Loan Cap, (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C
Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans would exceed such Lender’s Commitment, or (iii) the Outstanding Amount of the L/C Obligations would exceed the Letter of
Credit Sublimit; 
 (c)    In the event there is a Defaulting Lender as of the date of any request for
the issuance of a Letter of Credit, the L/C Issuer shall not be required to issue or arrange for such Letter of Credit to the extent (i) the Defaulting Lender’s participation with respect to such Letter of Credit may not be reallocated
pursuant to Section 9.16(b), or (ii) the L/C Issuer has not otherwise entered into arrangements reasonably satisfactory to it and the Borrower to eliminate the L/C Issuer’s risk with respect to the participation
in such Letter of Credit of the Defaulting Lender, which arrangements may include the Borrower cash collateralizing such Defaulting Lender’s participation with respect to such Letter of Credit in accordance with
Section 9.16(b). Additionally, the L/C Issuer shall have no obligation to issue and/or extend a Letter of Credit if (A) any order, judgment, or decree of any Governmental Authority or arbitrator shall, by its terms,
purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of Law) from any Governmental Authority with jurisdiction over the
L/C Issuer shall prohibit or request that the L/C Issuer refrain from the issuance of letters of credit generally or such Letter of Credit in particular, or (B) the issuance of such Letter of Credit would violate one or more policies of the L/C
Issuer applicable to letters of credit generally, or (C) if the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless either such Letter of Credit is Cash Collateralized on or prior to the
date of issuance of such Letter of Credit (or such later date as to which the Agent may agree) or all the Lenders have approved such expiry date. 

(d)    Any L/C Issuer (other than Wells Fargo or any of its Affiliates) shall notify the Agent in writing
no later than the Business Day prior to the Business Day on which such L/C Issuer issues any Letter of Credit. In addition, each L/C Issuer (other than Wells Fargo or any of its Affiliates) shall, on the first Business Day of each week, submit to
Agent a report detailing the daily undrawn amount of each Letter of Credit issued by such L/C Issuer during the prior calendar week. The Borrower and the Credit Parties hereby acknowledge and agree that all Existing Letters of Credit shall
constitute Letters of Credit under this Agreement on and after the Closing Date with the same effect as if such Existing Letters of Credit were issued by L/C Issuer at the request of the Borrower on the Closing

  
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Date. Each Letter of Credit shall be in form and substance reasonably acceptable to the L/C Issuer, including the requirement that the amounts payable thereunder must be payable in Dollars. If
the L/C Issuer makes a payment under a Letter of Credit, the Borrower shall pay to Agent an amount equal to the applicable Letter of Credit Disbursement on the Business Day such Letter of Credit Disbursement is made and, in the absence of such
payment, the amount of the Letter of Credit Disbursement immediately and automatically shall be deemed to be a Committed Loan hereunder (notwithstanding any failure to satisfy any condition precedent set forth in
Section 4.02 hereof) and, initially, shall bear interest at the rate then applicable to Committed Loans that are Base Rate Loans. If a Letter of Credit Disbursement is deemed to be a Committed Loan hereunder, the
Borrower’s obligation to pay the amount of such Letter of Credit Disbursement to the L/C Issuer shall be automatically converted into an obligation to pay the resulting Committed Loan. Promptly following receipt by the Agent of any payment from
the Borrower pursuant to this paragraph, the Agent shall distribute such payment to the L/C Issuer or, to the extent that the Lenders have made payments pursuant to Section 2.03(e) to reimburse the L/C Issuer, then to such
Lenders and the L/C Issuer as their interests may appear. 
 (e)    Promptly following receipt of a
notice of a Letter of Credit Disbursement pursuant to Section 2.03(d), each Lender agrees to fund its Applicable Percentage of any Committed Loan deemed made pursuant to Section 2.03(d) on the same
terms and conditions as if the Borrower had requested the amount thereof as a Committed Loan and the Agent shall promptly pay to the L/C Issuer the amounts so received by it from the Lenders. By the issuance of a Letter of Credit (or an amendment,
renewal, or extension of a Letter of Credit) and without any further action on the part of the L/C Issuer or the Lenders, the L/C Issuer shall be deemed to have granted to each Lender, and each Lender shall be deemed to have purchased, a
participation in each Letter of Credit issued by the L/C Issuer, in an amount equal to its Applicable Percentage of such Letter of Credit, and each such Lender agrees to pay to the Agent, for the account of the L/C Issuer, such Lender’s
Applicable Percentage of any Letter of Credit Disbursement made by the L/C Issuer under the applicable Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the
Agent, for the account of the L/C Issuer, such Lender’s Applicable Percentage of each Letter of Credit Disbursement made by the L/C Issuer and not reimbursed by Borrower on the date due as provided in Section 2.03(d),
or of any reimbursement payment that is required to be refunded (or that the Agent or the L/C Issuer elects, based upon the advice of counsel, to refund) to the Borrower for any reason. Each Lender acknowledges and agrees that its obligation to
deliver to the Agent, for the account of the L/C Issuer, an amount equal to its respective Applicable Percentage of each Letter of Credit Disbursement pursuant to this Section 2.03(e) shall be absolute and unconditional and
such remittance shall be made notwithstanding the occurrence or continuation of a Default or Event of Default or the failure to satisfy any condition set forth in Section 4.02 hereof. If any such Lender fails to make
available to the Agent the amount of such Lender’s Applicable Percentage of a Letter of Credit Disbursement as provided in this Section, such Lender shall be deemed to be a Defaulting Lender and the Agent (for the account of the L/C Issuer)
shall be entitled to recover such amount on demand from such Lender together with interest thereon at the Defaulting Lender Rate until paid in full. 

  
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 (f)    Each Borrower agrees to indemnify, defend and
hold harmless each Credit Party (including the L/C Issuer and its branches, Affiliates, and correspondents) and each such Person’s respective directors, officers, employees, attorneys and agents (each, including the L/C Issuer, a “Letter
of Credit Related Person”) (to the fullest extent permitted by Law) from and against any and all claims, demands, suits, actions, investigations, proceedings, liabilities, fines, costs, penalties, and damages, and all reasonable fees and
disbursements of attorneys, experts, or consultants and all other costs and expenses actually incurred in connection therewith or in connection with the enforcement of this indemnification (as and when they are incurred and irrespective of whether
suit is brought), which may be incurred by or awarded against any such Letter of Credit Related Person (other than Taxes, which shall be governed by Section 3.01) (the “Letter of Credit Indemnified Costs”), and
which arise out of or in connection with, or as a result of: 
 (i)    any Letter of Credit or any pre-advice of its issuance; 
 (ii)    any transfer, sale, delivery,
surrender or endorsement (or lack thereof) of any Drawing Document at any time(s) held by any such Letter of Credit Related Person in connection with any Letter of Credit; 

(iii)    any action or proceeding arising out of, or in connection with, any Letter of Credit (whether
administrative, judicial or in connection with arbitration), including any action or proceeding to compel or restrain any presentation or payment under any Letter of Credit, or for the wrongful dishonor of, or honoring a presentation under, any
Letter of Credit; 
 (iv)    any independent undertakings issued by the beneficiary of any Letter of
Credit; 
 (v)    any unauthorized instruction or request made to the L/C Issuer in connection with any
Letter of Credit or requested Letter of Credit, or any error, omission, interruption or delay in such instruction or request, whether transmitted by mail, courier, electronic transmission, SWIFT, or any other telecommunication including
communications through a correspondent; 
 (vi)    an adviser, confirmer or other nominated person
seeking to be reimbursed, indemnified or compensated; 
 (vii)    any third party seeking to enforce the
rights of an applicant, beneficiary, nominated person, transferee, assignee of Letter of Credit proceeds or holder of an instrument or document; 

(viii)    the fraud, forgery or illegal action of parties other than the Letter of Credit Related Person;

 (ix)    any prohibition on payment or delay in payment of any amount payable by the L/C Issuer to a
beneficiary or transferee beneficiary of a Letter of Credit arising out of Anti-Corruption Laws, Anti-Money Laundering Laws, or Sanctions; 

  
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 (x)    the L/C Issuer’s performance of the
obligations of a confirming institution or entity that wrongfully dishonors a confirmation; 

(xi)    any foreign language translation provided to the L/C Issuer in connection with any Letter of
Credit; 
 (xii)    any foreign law or usage as it relates to the L/C Issuer’s issuance of a Letter
of Credit in support of a foreign guaranty including without limitation the expiration of such guaranty after the related Letter of Credit expiration date and any resulting drawing paid by the L/C Issuer in connection therewith; or 

(xiii)    the acts or omissions, whether rightful or wrongful, of any present or future de jure or de facto
governmental or regulatory authority or cause or event beyond the control of the Letter of Credit Related Person; 
 provided,
however, that such indemnity shall not be available to any Letter of Credit Related Person claiming indemnification under clauses (i) through (x) above to the extent that such Letter of Credit Indemnified Costs may be finally determined
in a final, non-appealable judgment of a court of competent jurisdiction to have resulted directly from the gross negligence or willful misconduct of the Letter of Credit Related Person claiming indemnity. The
Borrower hereby agrees to pay the Letter of Credit Related Person claiming indemnity on demand from time to time all amounts owing under this Section 2.03(f). If and to the extent that the obligations of the Borrower under
this Section 2.03(f) are unenforceable for any reason, the Borrower agrees to make the maximum contribution to the Letter of Credit Indemnified Costs permissible under applicable Law. This indemnification provision shall
survive termination of this Agreement and all Letters of Credit. 
 (g)    The liability of the L/C
Issuer (or any other Letter of Credit Related Person) under, in connection with or arising out of any Letter of Credit (or pre-advice), regardless of the form or legal grounds of the action or proceeding,
shall be limited to direct damages suffered by the Borrower that are caused directly by the L/C Issuer’s gross negligence or willful misconduct in (i) honoring a presentation under a Letter of Credit that on its face does not at least
substantially comply with the terms and conditions of such Letter of Credit, (ii) failing to honor a presentation under a Letter of Credit that strictly complies with the terms and conditions of such Letter of Credit or (iii) retaining
Drawing Documents presented under a Letter of Credit. The Borrower’s aggregate remedies against the L/C Issuer and any Letter of Credit Related Person for wrongfully honoring a presentation under any Letter of Credit or wrongfully retaining
honored Drawing Documents shall in no event exceed the aggregate amount paid by the Borrower to the L/C Issuer in respect of the honored presentation in connection with such Letter of Credit under Section 2.03(d), plus
interest at the rate then applicable to Base Rate Loans hereunder. The Borrower shall take action to avoid and mitigate the amount of any damages claimed against the L/C Issuer or any other Letter of Credit Related Person, including by enforcing its
rights against the beneficiaries of the Letters of Credit. Any claim by the Borrower under or in connection 

  
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with any Letter of Credit shall be reduced by an amount equal to the sum of (x) the amount (if any) saved by the Borrower as a result of the breach or alleged wrongful conduct complained of;
and (y) the amount (if any) of the loss that would have been avoided had the Borrower taken all reasonable steps to mitigate any loss, and in case of a claim of wrongful dishonor, by specifically and timely authorizing the L/C Issuer to effect
a cure. 
 (h)    The Borrower shall be responsible for the final text of the Letter of Credit as issued
by the L/C Issuer, irrespective of any assistance the L/C Issuer may provide such as drafting or recommending text or by the L/C Issuer’s use or refusal to use text submitted by the Borrower. The Borrower understand that the final form of any
Letter of Credit may be subject to such revisions and changes as are deemed necessary or appropriate by the L/C Issuer, and Borrower hereby consent to such revisions and changes not materially different from the application executed in connection
therewith. The Borrower is solely responsible for the suitability of the Letter of Credit for the Borrower’s purposes. If the Borrower requests that the L/C Issuer issue a Letter of Credit for an affiliated or unaffiliated third party (an
“Account Party”), (i) such Account Party shall have no rights against the L/C Issuer; (ii) the Borrower shall be responsible for the application and obligations under this Agreement; and (iii) communications (including
notices) related to the respective Letter of Credit shall be among the L/C Issuer and the Borrower. The Borrower will examine the copy of the Letter of Credit and any other documents sent by the L/C Issuer in connection therewith and shall promptly
notify the L/C Issuer (not later than three (3) Business Days following the Borrower’s receipt of documents from the L/C Issuer) of any non-compliance with the Borrower’s instructions and of any
discrepancy in any document under any presentment or other irregularity. The Borrower understands and agree that the L/C Issuer is not required to extend the expiration date of any Letter of Credit for any reason. With respect to any Letter of
Credit containing an “automatic amendment” to extend the expiration date of such Letter of Credit, the L/C Issuer, in its sole and absolute discretion, may give notice of nonrenewal of such Letter of Credit and, if the Borrower does not at
any time want the then current expiration date of such Letter of Credit to be extended, the Borrower will so notify the Agent and the L/C Issuer at least 30 calendar days before the L/C Issuer is required to notify the beneficiary of such Letter of
Credit or any advising bank of such non-extension pursuant to the terms of such Letter of Credit. 

(i)    The Borrower’s reimbursement and payment obligations under this
Section 2.03 are absolute, unconditional and irrevocable and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever, including: 

(i)    any lack of validity, enforceability or legal effect of any Letter of Credit, any Issuer Document,
this Agreement or any Loan Document, or any term or provision therein or herein; 
 (ii)    payment
against presentation of any draft, demand or claim for payment under any Drawing Document that does not comply in whole or in part with the terms of the applicable Letter of Credit or which proves to be fraudulent, forged or invalid in any respect
or any statement therein being untrue or inaccurate in any respect, or which is signed, issued or presented by a Person or a transferee of such Person purporting to be a successor or transferee of the beneficiary of such Letter of Credit; 

  
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 (iii)    the L/C Issuer or any of its branches or
Affiliates being the beneficiary of any Letter of Credit; 
 (iv)    the L/C Issuer or any correspondent
honoring a drawing against a Drawing Document up to the amount available under any Letter of Credit even if such Drawing Document claims an amount in excess of the amount available under the Letter of Credit; 

(v)    the existence of any claim, set-off, defense or other right
that the Borrower or any of its Subsidiaries may have at any time against any beneficiary or transferee beneficiary, any assignee of proceeds, the L/C Issuer or any other Person; 

(vi)    the L/C Issuer or any correspondent honoring a drawing upon receipt of an electronic presentation
under a Letter of Credit requiring the same, regardless of whether the original Drawing Documents arrive at the L/C Issuer’s counters or are different from the electronic presentation; 

(vii)    any other event, circumstance or conduct whatsoever, whether or not similar to any of the
foregoing that might, but for this Section 2.03(i), constitute a legal or equitable defense to or discharge of, or provide a right of set-off against, the Borrower’s or any of
its Subsidiaries’ reimbursement and other payment obligations and liabilities, arising under, or in connection with, any Letter of Credit, whether against the L/C Issuer, the beneficiary or any other Person; or 

(viii)    the fact that any Default or Event of Default shall have occurred and be continuing; 

provided, however, that subject to Section 2.03(g) above, the foregoing shall not release the L/C
Issuer from such liability to the Borrower as may be finally determined in a final, non-appealable judgment of a court of competent jurisdiction against the L/C Issuer following reimbursement or payment of the
obligations and liabilities, including reimbursement and other payment obligations, of the Borrower to the L/C Issuer arising under, or in connection with, this Section 2.03 or any Letter of Credit. 

(j)    Without limiting any other provision of this Agreement, the L/C Issuer and each other Letter of
Credit Related Person (if applicable) shall not be responsible to the Borrower for, and the L/C Issuer’s rights and remedies against the Borrower and the obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter
of Credit shall not be impaired by: 
 (i)    honor of a presentation under any Letter of Credit that on
its face substantially complies with the terms and conditions of such Letter of Credit, even if the Letter of Credit requires strict compliance by the beneficiary; 

  
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 (ii)    honor of a presentation of any Drawing Document
that appears on its face to have been signed, presented or issued (A) by any purported successor or transferee of any beneficiary or other Person required to sign, present or issue such Drawing Document or (B) under a new name of the
beneficiary; 
 (iii)    acceptance as a draft of any written or electronic demand or request for payment
under a Letter of Credit, even if nonnegotiable or not in the form of a draft or notwithstanding any requirement that such draft, demand or request bear any or adequate reference to the Letter of Credit; 

(iv)    the identity or authority of any presenter or signer of any Drawing Document or the form, accuracy,
genuineness or legal effect of any Drawing Document (other than the L/C Issuer’s determination that such Drawing Document appears on its face substantially to comply with the terms and conditions of the Letter of Credit); 

(v)    acting upon any instruction or request relative to a Letter of Credit or requested Letter of Credit
that the L/C Issuer in good faith believes to have been given by a Person authorized to give such instruction or request; 

(vi)    any errors, omissions, interruptions or delays in transmission or delivery of any message, advice
or document (regardless of how sent or transmitted) or for errors in interpretation of technical terms or in translation or any delay in giving or failing to give notice to the Borrower; 

(vii)    any acts, omissions or fraud by, or the insolvency of, any beneficiary, any nominated person or
entity or any other Person or any breach of contract between any beneficiary and the Borrower or any of the parties to the underlying transaction to which the Letter of Credit relates; 

(viii)    assertion or waiver of any provision of the ISP or UCP that primarily benefits an issuer of a
letter of credit, including any requirement that any Drawing Document be presented to it at a particular hour or place; 

(ix)    payment to any presenting bank (designated or permitted by the terms of the applicable Letter of
Credit) claiming that it rightfully honored or is entitled to reimbursement or indemnity under Standard Letter of Credit Practice applicable to it; 

(x)    acting or failing to act as required or permitted under Standard Letter of Credit Practice
applicable to where the L/C Issuer has issued, confirmed, advised or negotiated such Letter of Credit, as the case may be; 

(xi)    honor of a presentation after the expiration date of any Letter of Credit notwithstanding that a
presentation was made prior to such expiration date and dishonored by the L/C Issuer if subsequently the L/C Issuer or any court or other finder of fact determines such presentation should have been honored; 

  
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 (xii)    dishonor of any presentation that does not
strictly comply or that is fraudulent, forged or otherwise not entitled to honor; or 
 (xiii)    honor
of a presentation that is subsequently determined by the L/C Issuer to have been made in violation of international, federal, state or local restrictions on the transaction of business with certain prohibited Persons. 

(k)    Upon the request of the Agent, (i) if the L/C Issuer has honored any full or partial drawing
request under any Letter of Credit and such drawing has resulted in an L/C Obligation that remains outstanding, or (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrower shall,
in each case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations. Sections 2.05 and 8.02(c) set forth certain additional requirements to deliver Cash Collateral hereunder. For purposes of this
Section 2.03, Section 2.05 and Section 8.02(c), “Cash Collateralize” means to pledge and deposit with or deliver to the Agent, for the benefit of the L/C
Issuer and the Lenders, as collateral for the L/C Obligations, cash or deposit account balances in an amount equal to 105% of the Outstanding Amount of all L/C Obligations (other than L/C Obligations with respect to Letters of Credit denominated in
a currency other than Dollars, which L/C Obligations shall be Cash Collateralized in an amount equal to 107.5% of the Outstanding Amount of such L/C Obligations), pursuant to documentation in form and substance reasonably satisfactory to the Agent
and the L/C Issuer (which documents are hereby Consented to by the Lenders). The Borrower hereby grants to the Agent a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash Collateral
shall be maintained in blocked, non-interest bearing deposit accounts at Wells Fargo. If at any time the Agent determines that any funds held as Cash Collateral are subject to any right or claim of any Person
other than the Agent or that the total amount of such funds is less than the aggregate Outstanding Amount of all L/C Obligations, the Borrower will, forthwith upon demand by the Agent, pay to the Agent, as additional funds to be deposited as Cash
Collateral, an amount equal to the excess of (x) such aggregate Outstanding Amount over (y) the total amount of funds, if any, then held as Cash Collateral that the Agent 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 Laws, to reimburse the L/C Issuer and, to the extent not so applied, shall thereafter be
applied to satisfy other Obligations. 
 (l)    The Borrower shall pay to the Agent for the account of
each Lender in accordance with its Applicable Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Margin times the daily Stated Amount under each such Letter of Credit
(whether or not such maximum amount is then in effect under such Letter of Credit). For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of the Letter of Credit shall be determined in accordance
with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first day after the end of each month commencing with the first such date to occur after the issuance of such Letter of Credit, and after the
Letter of Credit Expiration Date, on demand, and (ii) computed on a monthly basis in arrears. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default
Rate as provided in Section 2.08(b) hereof. 

  
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 (m)    In addition to the Letter of Credit Fees as set
forth in Section 2.03(l) above, the Borrower shall pay immediately upon demand to the Agent for the account of the L/C Issuer as non-refundable fees, commissions, and charges (it
being acknowledged and agreed that any charging of such fees, commissions, and charges to the Loan Account pursuant to the provisions of Section 2.02(d) shall be deemed to constitute a demand for payment thereof for the
purposes of this Section 2.03(m)): (i) a fronting fee which shall be imposed by the L/C Issuer equal to 0.125% per annum times the average amount of the L/C Obligations during the immediately preceding month,
plus (ii) any and all other customary commissions, fees and charges then in effect imposed by, and any and all expenses incurred by, the L/C Issuer, or by any adviser, confirming institution or entity or other nominated person,
relating to Letters of Credit, at the time of issuance of any Letter of Credit and upon the occurrence of any other activity with respect to any Letter of Credit (including transfers, assignments of proceeds, amendments, drawings, renewals or
cancellations). 
 (n)    Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a
Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (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. 
 (o)    The L/C Issuer shall be deemed to have acted with due diligence and reasonable care if
the L/C Issuer’s conduct is in accordance with Standard Letter of Credit Practice or in accordance with this Agreement. 

(p)    The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it
and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Agent in Article IX with respect to any acts taken or omissions suffered by the L/C Issuer in connection with
Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Agent” as used in Article IX included the L/C Issuer with respect to such acts or
omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 
 (q)    In the
event of a direct conflict between the provisions of this Section 2.03 and any provision contained in any Issuer Document, it is the intention of the parties hereto that such provisions be read together and construed, to
the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 2.03 shall control and
govern. 
 (r)    The provisions of this Section 2.03 shall survive the
termination of this Agreement and the repayment in full of the Obligations with respect to any Letters of Credit that remain outstanding. 

  
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 (s)    At the Borrower’s costs and expense, the
Borrower shall execute and deliver to the L/C Issuer such additional certificates, instruments and/or documents and take such additional action as may be reasonably requested by the L/C Issuer to enable the L/C Issuer to issue any Letter of Credit
pursuant to this Agreement and related Issuer Document, to protect, exercise and/or enforce the L/C Issuer’s rights and interests under this Agreement or to give effect to the terms and provisions of this Agreement or any Issuer Document. Each
Borrower irrevocably appoints the L/C Issuer as its attorney-in-fact and authorizes the L/C Issuer, without notice to the Borrower, to execute and deliver ancillary
documents and letters customary in the letter of credit business that may include but are not limited to advisements, indemnities, checks, bills of exchange and issuance documents. The power of attorney granted by the Borrower is limited solely to
such actions related to the issuance, confirmation or amendment of any Letter of Credit and to ancillary documents or letters customary in the letter of credit business. This appointment is coupled with an interest. 

2.04    Swing Line Loans. 

(a)    The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender
may, in reliance upon the agreements of the other Lenders set forth in this Section 2.04, make loans (each such loan, a “Swing Line Loan”) to the Borrower from time to time on any Business Day during the
Availability Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of
Committed Loans and L/C Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the Total Outstandings
shall not exceed Loan Cap, and (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender at such time, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations at such time, plus such
Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans at such time shall not exceed such Lender’s Commitment, and provided, further, that the Borrower shall not use the proceeds of any Swing Line
Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.04, prepay under
Section 2.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest only at the rate applicable to Base Rate Loans. Immediately upon the making of a Swing Line Loan, each
Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Lender’s Applicable Percentage
times the amount of such Swing Line Loan. The Swing Line Lender shall have all of the benefits and immunities (A) provided to the Agent in Article IX with respect to any acts taken or omissions suffered by the Swing Line Lender in
connection with Swing Line Loans made by it or proposed to be made by it as if the term “Agent” as used in Article IX included the Swing Line Lender with respect to such acts or omissions, and (B) as additionally provided
herein with respect to the Swing Line Lender. 

  
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 (b)    Borrowing Procedures. Each Swing Line
Borrowing shall be made upon the Borrower’s irrevocable notice to the Swing Line Lender and the Agent, which may be given by telephone. Each such notice must be received by the Swing Line Lender and the Agent not later than 1:00 p.m. on the
requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000, and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed promptly
by delivery to the Swing Line Lender and the Agent of a written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line Lender of any telephonic Swing Line Loan
Notice, the Swing Line Lender will confirm with the Agent (by telephone or in writing) that the Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Agent (by telephone or in writing) of the contents
thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Agent at the request of the Required Lenders prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender
not to make such Swing Line Loan as a result of the limitations set forth in the proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV is
not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender may, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the
Borrower at its office by crediting the account of the Borrower on the books of the Swing Line Lender in immediately available funds. 

(c)    Refinancing of Swing Line Loans. 

(i)    The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the
Borrower (which hereby irrevocably authorize the Swing Line Lender to so request on their behalf), that each Lender make a Base Rate Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swing Line Loans then
outstanding. Such request shall be made in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the
unutilized portion of the Loan Cap and the conditions set forth in Section 4.02. Each Lender shall make an amount equal to its Applicable Percentage of the amount of such outstanding Swing Line Loan available to the Agent
in immediately available funds for the account of the Swing Line Lender at the Agent’s Office not later than 1:00 p.m. on the day specified by the Swing Line Lender, whereupon, subject to Section 2.04(c)(ii), each
Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Agent shall remit the funds so received to the Swing Line Lender. 

(ii)    If for any reason any Swing Line Loan cannot be refinanced by such a Committed Borrowing in
accordance with Section 2.04(c)(i), the request for Base Rate Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Lenders fund its risk
participation in the relevant Swing Line Loan and each Lender’s payment to the Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such participation.

  
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 (iii)    If any Lender fails to make available to the
Agent for the account of the Swing Line Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in
Section 2.04(c)(i), the Swing Line Lender shall be entitled to recover from such Lender (acting through the 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 the Swing Line Lender at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the Swing Line Lender in accordance with banking industry rules on interbank
compensation plus any administrative, processing or similar fees customarily charged by the Swing Line Lender in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall
constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or funded participation in the relevant Swing Line Loan, as the case may be. A certificate of the Swing Line Lender submitted to any Lender (through the Agent)
with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error. 

(iv)    Each Lender’s obligation to make Committed Loans or to purchase and fund risk participations
in Swing Line Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which
such Lender may have against the Swing Line Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default or an Event of Default, or (C) any other occurrence, event or condition, whether
or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Committed Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in
Section 4.02. No such funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans, together with interest as provided herein. 

(d)    Repayment of Participations. 

(i)    At any time after any Lender has purchased and funded a risk participation in a Swing Line Loan, if
the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Applicable Percentage of such payment (appropriately adjusted, in the case of interest payments, to reflect the
period of time during which such Lender’s risk participation was funded) in the same funds as those received by the Swing Line Lender. 

(ii)    If any payment received by the Swing Line Lender in respect of principal or interest on any Swing
Line Loan is required to be returned by the Swing Line Lender under any of the circumstances described in Section 10.05 (including 

  
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pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay to the Swing Line Lender its Applicable Percentage thereof on demand of the Agent, plus
interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds Rate. The Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Lenders under
this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e)    Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for
invoicing the Borrower for interest on the Swing Line Loans. Until each Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing
Line Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swing Line Lender. 

(f)    Payments Directly to Swing Line Lender. The Borrower shall make all payments of principal and
interest in respect of the Swing Line Loans directly to the Swing Line Lender. 
 2.05    Prepayments. 

(a)    The Borrower may, upon irrevocable notice from the Borrower to the Agent, at any time or from time
to time voluntarily prepay Committed Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Agent not later than 11:00 a.m. (A) three Business Days prior to any date of prepayment
of LIBOR Rate Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment of LIBOR Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $250,000 in excess thereof; and (iii) unless a Cash
Dominion Event has occurred and is continuing, any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then
outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if LIBOR Rate Loans, the Interest Period(s) of such Loans. The Agent will promptly notify each Lender of its receipt of
each such notice, and of the amount of such Lender’s Applicable Percentage 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 LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each
such prepayment shall be applied to the Committed Loans of the Lenders in accordance with their respective Applicable Percentages. 

(b)    The Borrower may, upon irrevocable notice from the Borrower to the Swing Line Lender (with a copy to
the Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Swing Line Lender and the Agent not later than 1:00
p.m. on the date of the prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify the date and amount of such 

  
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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. 
 (c)    If for any reason the Total Outstandings at any time exceed the Loan Cap as then in
effect, the Borrower shall immediately prepay Loans, Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash
Collateralize the L/C Obligations pursuant to this Section 2.05(c) unless after the prepayment in full of the Loans the Total Outstandings exceed the Loan Cap as then in effect. 

(d)    After the occurrence and during the continuance of a Cash Dominion Event, the Borrower shall prepay
the Loans and Cash Collateralize the L/C Obligations with the proceeds and collections received by the Loan Parties to the extent so required under the provisions of Section 6.13 hereof. 

(e)    Prepayments made pursuant to Section 2.05(c) and (d) above,
first, shall be applied to the Swing Line Loans, second, shall be applied ratably to the outstanding Committed Loans, third, shall be used to Cash Collateralize the remaining L/C Obligations; and, fourth, the amount
remaining, if any, after the prepayment in full of all Swing Line Loans and Committed Loans outstanding at such time and the Cash Collateralization of the remaining L/C Obligations in full may be retained by the Borrower for use in the ordinary
course of its business. Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash Collateral shall be applied (without any further action by or notice to or from the Borrower or any other Loan Party) to
reimburse the L/C Issuer or the Lenders, as applicable. 
 2.06    Termination or Reduction of Commitments 

(a)    The Borrower may, upon irrevocable notice from the Borrower to the Agent, terminate the Aggregate
Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit or from time to time permanently reduce the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit; provided that (i) any such notice shall be
received by the Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $250,000 in excess
thereof, (iii) the Borrower shall not terminate or reduce (A) the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments,
(B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, and (C) the Swing Line Sublimit if, after
giving effect thereto, and to any concurrent payments hereunder, the Outstanding Amount of Swing Line Loans hereunder would exceed the Swing Line Sublimit. 

(b)    If, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit
or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Letter of Credit Sublimit or Swing Line Sublimit shall be automatically reduced by the amount of such excess. 

  
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 (c)    The Agent will promptly notify the Lenders of any
termination or reduction of the Letter of Credit Sublimit, Swing Line Sublimit or the Aggregate Commitments under this Section 2.06. Upon any reduction of the Aggregate Commitments, the Commitment of each Lender shall be
reduced by such Lender’s Applicable Percentage of such reduction amount. All fees (including, without limitation, unused line fees, and Letter of Credit Fees) and interest in respect of the Aggregate Commitments accrued until the effective date
of any termination of the Aggregate Commitments shall be paid on the effective date of such termination. 

2.07    Repayment of Loans. 

(a)    If, as of the
final Business Day of each weekly period starting from the first complete calendar week after the Closing Date (for the avoidance of doubt, with the first such final Business Day being May 1, 2020), (A) the Outstanding Amount of all Loans is greater
than $50,000,000 and (B) the Consolidated Cash Balance exceeds $50,000,000 as of the end of
such applicable Business Day, then the Borrower shall, on
the next Business Day thereafter, prepay the
Loans in an aggregate principal amount equal to such excess set forth in this clause
(B)[Reserved]. 

(b)    The Borrower shall repay to the Lenders on the Termination Date the aggregate principal amount of
Committed Loans outstanding on such date. 
 (c)    To the extent not previously paid, the Borrower shall
repay the outstanding balance of the Swing Line Loans on the Termination Date. 
 2.08    Interest. 

(a)    Subject to the provisions of Section 2.08(b) below, (i) each LIBOR
Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the LIBOR Rate for such Interest Period plus the Applicable Margin; (ii) 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 Margin; and (iii) each Swing Line 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 Margin. 

(b)    (i) If any amount payable under any Loan Document is not paid when due (without regard to any
applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by
applicable Laws. 
 (ii)    If any other Event of Default exists, then the Agent may, and upon the
request of the Required Lenders shall, notify the Borrower that all outstanding Obligations shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate and thereafter such Obligations shall bear
interest at the Default Rate to the fullest extent permitted by applicable Laws. 

  
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 (iii)    Accrued and unpaid interest on past due amounts
(including interest on past due interest) shall be due and payable upon demand. 
 (c)    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. 

2.09    Fees. In addition to certain fees described in subsections (l) and (m) of
Section 2.03: 
 (a)    Unused Line Fee. The Borrower shall pay to the
Agent for the account of each Lender in accordance with its Applicable Percentage, on the first day after the end of each fiscal month, commencing on May 4,
2020, and on the last day of the Availability Period, an unused line fee on the actual daily amount by which the Aggregate Commitments exceed the Total Outstandings equal to (i)
 prior to the First Amendment Effective Date, (a)
0.375% per annum times the actual daily amount by which the Aggregate Commitments exceed the Total Outstandings during any month (or portion thereof) when the Average Monthly Unused Percentage is greater than or equal to fifty percent (50%) and (b)
0.50% per annum times the actual daily amount by which the Aggregate Commitments exceed the Total Outstandings
during any month (or portion thereof) when the Average Monthly Unused Percentage is less than fifty percent (50%) (ii) commencing on the First Amendment Effective Date, (a) 0.225% per annum times the actual daily amount by which the Aggregate
Commitments exceed the Total Outstandings during any month (or portion thereof) when the Average Monthly Unused Percentage is greater than or equal to fifty percent (50%) and (b) 0.25% per annum
times the actual daily amount by which the Aggregate Commitments exceed the Total Outstandings during any month (or portion thereof) when the Average Monthly Unused Percentage is less than fifty percent (50%).    The unused line
fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met. 

(b)    Other Fees. The Borrower shall pay to the Arrangers and the Agent, as applicable, for their
own respective accounts fees in the amounts and at the times specified in the Fee Letters. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

2.10    Computation of Interest and Fees. All 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 outstanding Loan beginning, and including the day, such Loan is made and until (but not including) the day on which such Loan (or such
portion thereof) is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. Each determination by the Agent of an interest rate or
fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 

  
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 2.11    Evidence of Debt. 

(a)    The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records
maintained by the Agent (the “Loan Account”) in the ordinary course of business. In addition, each Lender may record in such Lender’s internal records, an appropriate notation evidencing the date and amount of each Loan from
such Lender, each payment and prepayment of principal of any such Loan, and each payment of interest, fees and other amounts due in connection with the Obligations due to such Lender. The accounts or records maintained by the Agent and each Lender
shall be conclusive 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 Agent in respect of
such matters, the accounts and records of the Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Agent, the Borrower shall execute and deliver to such Lender (through the Agent) a Note, 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. Upon
receipt of an affidavit of a Lender as to the loss, theft, destruction or mutilation of such Lender’s Note and upon cancellation of such Note, the Borrower will issue, in lieu thereof, a replacement Note in favor of such Lender, in the same
principal amount thereof and otherwise of like tenor. 
 (b)    In addition to the accounts and records
referred to in Section 2.11(a), each Lender and the Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit and
Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Agent shall control in the absence of
manifest error. 
 2.12    Payments Generally; Agent’s Clawback. 

(a)    General. All payments to be made by the Borrower shall be made 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 Agent, for the account of the respective Lenders to which such payment is owed, at the
Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. Subject to Section 2.14 hereof, the Agent will promptly distribute to each Lender its Applicable
Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Agent after 2:00 p.m., at the option of the Agent, shall be
deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. 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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 (b)    (i) Funding by Lenders; Presumption by Agent.
Unless the Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of LIBOR Rate Loans (or in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Borrowing) that such Lender will
not make available to the Agent such Lender’s share of such Borrowing, the Agent may assume that such Lender has made such share available on such date in accordance with Section 2.02 (or in the case of a Borrowing of
Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount.
In such event, if a Lender has not in fact made its share of the applicable Committed Borrowing available to the Agent, then the applicable Lender and the Borrower severally agree to pay to the Agent forthwith on demand such corresponding amount in
immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Agent, at (A) in the case of a payment to be made by such
Lender, the greater of the Federal Funds Rate and a rate determined by the Agent in accordance with banking industry rules on interbank compensation plus any administrative processing or similar fees customarily charged by the Agent in connection
with the foregoing, and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the Agent for the same or an overlapping period, the
Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Committed Borrowing to the Agent, then the amount so paid shall constitute such
Lender’s Committed Loan included in such Committed 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 Agent. 

(ii)    Payments by Borrower; Presumptions by Agent. Unless the Agent shall have received notice
from the Borrower prior to the time at which any payment is due to the Agent for the account of the Lenders or the L/C Issuer hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on
such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders
or the L/C Issuer, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in immediately available funds with interest thereon, for each day from and including the
date such amount is distributed to it to but excluding the date of payment to the Agent, at the greater of the Federal Funds Rate and a rate determined by the Agent in accordance with banking industry rules on interbank compensation. 

A notice of the Agent to any Lender or the Borrower with respect to any amount owing under this subsection (b) shall be
conclusive, absent manifest error. 

  
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 (c)    Failure to Satisfy Conditions Precedent.
If any Lender makes available to the Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Agent because the conditions to
the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof (subject to the provisions of the last paragraph of Section 4.02 hereof), the Agent shall return
such funds (in like funds as received from such Lender) to such Lender, without interest. 

(d)    Obligations of Lenders Several. The obligations of the Lenders hereunder to make Committed
Loans, to fund participations in Letters of Credit and Swing Line Loans and to make payments hereunder are several and not joint. The failure of any Lender to make any Committed Loan, to fund any such participation or to make any payment hereunder
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 Committed Loan, to purchase its
participation or to make its payment hereunder. 
 (e)    Funding Source. 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. 

2.13    Sharing of Payments by Lenders. If any Credit Party shall, by exercising any right of setoff or
counterclaim or otherwise, obtain payment in respect of any principal of, interest on, or other amounts with respect to, any of the Obligations resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such
Obligations greater than its pro rata share thereof as provided herein (including as in contravention of the priorities of payment set forth in Section 8.03), then the Credit Party receiving such greater
proportion shall (a) notify the Agent of such fact, and (b) purchase (for cash at face value) participations in the Obligations of the other Credit Parties, or make such other adjustments as shall be equitable, so that the benefit of all
such payments shall be shared by the Credit Parties ratably and in the priorities set forth in Section 8.03, provided that: 

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

(ii)    the provisions of this Section shall not be construed to apply to (x) any payment made by the
Loan Parties pursuant to and in accordance with the express terms of this Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Committed Loans or subparticipations in
L/C Obligations or Swing Line Loans to any assignee or participant, other than to the Borrower or any Subsidiary thereof (as to which the provisions of this Section shall apply). 

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

(a)    The amount of each Lender’s Applicable Percentage of outstanding Loans (including outstanding
Swing Line Loans), shall be computed weekly (or more frequently in the Agent’s discretion) and shall be adjusted upward or downward based on all Loans (including Swing Line Loans) and repayments of Loans (including Swing Line Loans) received by
the Agent as of 3:00 p.m. on the first Business Day (such date, the “Settlement Date”) following the end of the period specified by the Agent. 

(b)    The Agent shall deliver to each of the Lenders promptly after a Settlement Date a summary statement
of the amount of outstanding Committed Loans and Swing Line Loans for the period and the amount of repayments received for the period. As reflected on the summary statement, (i) the Agent shall transfer to each Lender its Applicable Percentage
of repayments, and (ii) each Lender shall transfer to the Agent (as provided below) or the Agent shall transfer to each Lender, such amounts as are necessary to insure that, after giving effect to all such transfers, the amount of Committed
Loans made by each Lender shall be equal to such Lender’s Applicable Percentage of all Committed Loans outstanding as of such Settlement Date. If the summary statement requires transfers to be made to the Agent by the Lenders and is received
prior to 1:00 p.m. on a Business Day, such transfers shall be made in immediately available funds no later than 3:00 p.m. that day; and, if received after 1:00 p.m., then no later than 3:00 p.m. on the next Business Day. The obligation of each
Lender to transfer such funds is irrevocable, unconditional and without recourse to or warranty by the Agent. If and to the extent any Lender shall not have so made its transfer to the Agent, such Lender agrees to pay to the Agent, forthwith on
demand such amount, together with interest thereon, for each day from such date until the date such amount is paid to the Agent, equal to the greater of the Federal Funds Rate and a rate determined by the Agent in accordance with banking industry
rules on interbank compensation plus any administrative, processing, or similar fees customarily charged by the Agent in connection with the foregoing. 

2.15    Increase in Commitments. 

(a)
    Committed Increase. Provided no
Default or Event of Default then exists or would arise therefrom, upon notice to the Agent, the Borrower may from time to time request an increase in the Aggregate Commitments by an amount (for all such requests) not exceeding $50,000,000 (the
“Committed
 Increase”);
 provided that
(i) any
 such Committed Increase shall be in a minimum amount of $25,000,000, (ii) the amount of the Aggregate Commitments, as the same may be increased pursuant to any Committed Increase and/or Uncommitted Increase, shall not exceed $375,000,000 at any
time, and
(iii) the
 Borrower may make a maximum of two such requests. Any such Committed Increase shall be effectuated as soon as reasonably practicable after the request of the Borrower 

  
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therefor. Any such Committed Increase shall be provided solely by
Wells Fargo (or any permitted assignee of Wells Fargo that has agreed in writing to provide such Commitment) and shall otherwise be on the same terms as the existing facility under this Agreement; provided that the upfront fees payable in connection
with any such Committed Increase shall be in an amount equal to an amount specified under the First Amendment Fee Letter. 

(b)
    Uncommitted Increase. 
 (i)    Request for Increase. Provided no Default or
Event of Default then exists or would arise therefrom, upon notice to the Agent (which shall promptly notify the Lenders), the Borrower may from time to time request an increase in the Aggregate Commitments by an amount (for all such requests) not
exceeding $150,000,000
(less the aggregate
amount of all Committed Increases made pursuant to Section 2.15(a) hereof (the
“Uncommitted
 Increase”,
 and, together with all Committed Increases, collectively, the “Commitment Increases”); provided that (i) any such request for an increase shall be in a minimum amount
of $25,000,000, (ii) the Borrower may make a maximum of six such requests, and (iii) the amount of the Aggregate Commitments, as the same may be increased pursuant to this Section 2.15, shall not exceed $375,000,000 at
any time. At the time of sending such notice, the Borrower (in consultation with the Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the
Lenders). 
 (ii)    Lender Elections to Increase. Each Lender shall notify the Agent
within such time period whether or not it agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Percentage of such requested increase. Any Lender not responding within such time period
shall be deemed to have declined to increase its Commitment. 
 (iii)    Notification by Agent;
Additional Lenders. The Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Agent, the L/C Issuer
and the Swing Line Lender (which approvals shall not be unreasonably withheld), to the extent that the existing Lenders decline to increase their Commitments, or decline to increase their Commitments to the amount requested by the Borrower, the
Agent, in consultation with the Borrower, will use its reasonable efforts to arrange for other Eligible Assignees to become a Lender hereunder and to issue commitments in an amount equal to the amount of the increase in the Aggregate Commitments
requested by the Borrower and not accepted by the existing Lenders (and the Borrower may also invite additional Eligible Assignees to become Lenders) (each, an “Additional Commitment Lender”), provided, however, that without
the consent of the Agent, at no time shall the Commitment of any Additional Commitment Lender be less than $25,000,000. 

(iv)    Effective Date and Allocations. If the Aggregate Commitments are increased in accordance
with this Section, the Agent, in consultation with the Borrower, shall determine the effective date (the “Increase Effective Date”)
and,  

  
 85 

 
with respect to any Uncommitted Increase, the final allocation of such increase. The Agent shall promptly notify the Borrower and the Lenders of the final allocation of such
increaseUncommitted
 Increase and the Increase Effective Date and on the Increase Effective Date (i) the Aggregate Commitments under, and for all purposes of, this Agreement shall be increased by the aggregate
amount of such Commitment Increases, and (ii) Schedule 2.01 shall be deemed modified, without further action, to reflect the revised Commitments and Applicable Percentages of the Lenders. 

(c)
    (b) Conditions to
Effectiveness of Commitment Increase. As a condition precedent to such Commitment Increase, (i) the Borrower shall deliver to the Agent a certificate of each Loan Party dated as of the Increase Effective Date (in sufficient copies for each
Lender) signed by a Responsible Officer of such Loan Party (A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such Commitment Increase, and (B) in the case of the Borrower, certifying that,
before and after giving effect to such Commitment Increase, (1) the representations and warranties contained in Article V and the other Loan Documents are true and correct on and as of the Increase Effective Date, except to the extent
that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Section 2.15, the representations and
warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of
Section 6.01, and (2) no Default or Event of Default exists or would arise therefrom,
(ii) if applicable, the Borrower, the Agent, and any
Additional Commitment Lender shall have executed and delivered a Joinder to the Loan Documents in such form as the Agent shall reasonably require;
(iii) in connection with an Uncommitted Increase, the
Borrower shall have paid such fees and other compensation to the Additional Commitment Lenders as the Borrower and such Additional Commitment Lenders shall agree; (iv)
in connection with an Uncommitted Increase, the Borrower
shall have paid such arrangement fees to the Agent as the Borrower and the Agent may agree; (v) if requested by the Agent, the Borrower shall deliver to the Agent and the Lenders an opinion or opinions, in form and substance reasonably
satisfactory to the Agent, from counsel to the Borrower reasonably satisfactory to the Agent and dated such date; (vi) the Borrower and the Additional Commitment Lender shall have delivered such other instruments, documents and agreements as
the Agent may reasonably have requested; and (vii) no Default or Event of Default exists. The Borrower shall prepay any Committed Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to
Section 2.05) to the extent necessary to keep the outstanding Committed Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section. 

(d)
    (c) Conflicting
Provisions. This Section shall supersede any provisions in Sections 2.13 or 10.01 to the contrary. 

  
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 ARTICLE III 

TAXES, YIELD PROTECTION AND ILLEGALITY 

3.01    Taxes. 

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

(b)    Payment of Other Taxes by the Borrower. Without limiting the provisions of subsection
(a) above, the Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 

(c)    Indemnification by the Loan Parties. The Loan Parties shall indemnify the Agent, each Lender
and the L/C Issuer, within 10 days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) paid by
the Agent, such Lender or the L/C Issuer, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or the L/C Issuer (with a copy to the Agent), or by the Agent on its own behalf or on behalf of the
Agent, a Lender or the L/C Issuer, shall be conclusive absent manifest error. 
 (d)    Evidence of
Payments. As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental Authority, the Borrower shall deliver to the Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Agent. 

(e)    Status of Lenders. Any Foreign Lender that is entitled to an exemption from or reduction of
withholding tax under the law of the jurisdiction in which the Borrower is resident for tax purposes, or any treaty to which such jurisdiction is a party, with respect to payments hereunder or under any other Loan Document shall deliver to the
Borrower (with a copy to the Agent), at the time or times prescribed by applicable law or reasonably requested by the Borrower or the Agent, such properly completed and executed documentation prescribed by applicable law as will permit such payments
to be made without withholding or at a reduced rate of withholding. Such delivery shall be provided on the Closing Date and on or before such documentation expires or becomes obsolete or after the occurrence of an event requiring a change in the
documentation most recently delivered. In addition, any Lender, if requested by the Borrower or the Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Agent as will enable the
Borrower or the Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. 

  
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 Without limiting the generality of the foregoing, in the event that the Borrower is resident
for tax purposes in the United States, any Foreign Lender shall deliver to the Borrower and the Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this
Agreement (and from time to time thereafter upon the request of the Borrower or the Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: 

(i)    duly completed copies of Internal Revenue Service Form
W-8BEN or W8BEN-E, as applicable, claiming eligibility for benefits of an income tax treaty to which the United States is a party, 

(ii)    duly completed copies of Internal Revenue Service Form
W-8ECI, 
 (iii)    in the case of a Foreign Lender claiming the
benefits of the exemption for portfolio interest under section 881(c) of the Code, (x) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a
“10 percent shareholder” of the Borrower within the meaning of section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) duly completed copies
of Internal Revenue Service Form W-8BEN or W8BEN-E, as applicable, or 

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

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

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

3.02    Illegality. If any Lender determines that any Law has made it unlawful, or that any Governmental Authority
has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund LIBOR Rate Loans, or to determine or charge interest rates based upon the LIBOR Rate, or any Governmental Authority has imposed material
restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Agent, any obligation of such Lender to make or
continue LIBOR Rate Loans or to convert Base Rate Loans to LIBOR Rate Loans shall be suspended until such Lender notifies the Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such
notice, the Borrower shall, upon demand from such Lender (with a copy to the Agent), prepay or, if applicable, convert all LIBOR Rate Loans of such Lender to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may
lawfully continue to maintain such LIBOR Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such LIBOR Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the
amount so prepaid or converted. 
 3.03    Inability to Determine Rates. If the Required Lenders determine that
for any reason in connection with any request for a LIBOR Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the London interbank market for the applicable amount and Interest Period
of such LIBOR Rate Loan, (b) adequate and reasonable means do not exist for determining the LIBOR Rate for any requested Interest Period with respect to a proposed LIBOR Rate Loan, or (c) the LIBOR Rate for any requested Interest Period
with respect to a proposed LIBOR Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Agent will promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or
maintain LIBOR Rate Loans shall be suspended until the 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 LIBOR Rate Loans or, failing that, will be deemed to have converted such request into a request for a Committed Borrowing of Base Rate Loans in the amount specified therein. 

  
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 3.04    Increased Costs; Reserves on LIBOR Rate Loans. 

(a)    Increased Costs Generally. If any Change in Law shall: 

(i)    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 (except any reserve requirement reflected in the LIBOR Rate) or the L/C Issuer; 

(ii)    subject any Lender or the L/C Issuer to any tax of any kind whatsoever with respect to this
Agreement, any Letter of Credit, any participation in a Letter of Credit or any LIBOR Rate Loan made by it, or change the basis of taxation of payments to such Lender or the L/C Issuer in respect thereof (except for Indemnified Taxes or Other Taxes
covered by Section 3.01 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the L/C Issuer); or 

(iii)    impose on any Lender or the L/C Issuer or the London interbank market any other condition, cost or
expense affecting this Agreement or LIBOR Rate Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the
foregoing shall be to increase the cost to such Lender of making or maintaining any LIBOR Rate Loan (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or
maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder (whether of principal,
interest or any other amount) then, upon request of such Lender or the L/C Issuer, the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer, as the
case may be, for such additional costs incurred or reduction suffered. 
 (b)    Capital
Requirements. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding
capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a
consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C
Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C
Issuer’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such 

  
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Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for
any such reduction suffered. 
 (c)    Certificates for Reimbursement. A certificate of a Lender
or the L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to the
Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 

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

(e)    Reserves on LIBOR Rate Loans. The Borrower shall pay to each Lender, as long as such Lender
shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of
each LIBOR Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which
interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the
relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice. 

3.05    Compensation for Losses. Upon demand of any Lender (with a copy to the Agent) from time to time, the
Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(a)    any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day
other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(b)    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 Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or 

  
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 (c)    any assignment of a LIBOR Rate Loan on a day
other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to Section 10.13; 

(d)    including any loss of anticipated profits and any loss or expense arising from the liquidation or
reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with
the foregoing. 
 For purposes of calculating amounts payable by the Borrower to the Lenders under this
Section 3.05, each Lender shall be deemed to have funded each LIBOR Rate Loan made by it at the LIBOR Rate for such Loan by a matching deposit or other borrowing in the London interbank market for a comparable amount and
for a comparable period, whether or not such LIBOR Rate Loan was in fact so funded. 
 3.06    Mitigation
Obligations; Replacement of Lenders. 
 (a)    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 judgment of such Lender, such designation or assignment (i) 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 (ii) in each case, would not subject such
Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

 (b)    Replacement of Lenders. If any Lender requests compensation under
Section 3.04, or if 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, the Borrower may
replace such Lender in accordance with Section 10.13. 
 3.07    Survival. All of the
Borrower’s obligations under this Article III shall survive termination of the Aggregate Commitments and repayment of all other Obligations hereunder. 

  
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 ARTICLE IV 

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 

4.01    Conditions of Initial Credit Extension. The obligation of the L/C Issuer and each Lender to make any Credit
Extension hereunder on the Closing Date is subject to satisfaction of the following conditions precedent: 

(a)    The Agent’s receipt of the following, each of which shall be originals, telecopies or other
electronic image scan transmission (e.g., “pdf” or “tif “ via e-mail) (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the
signing Loan Party or the Lenders, as applicable, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form and substance satisfactory to the Agent: 

(i)    executed counterparts of this Agreement sufficient in number for distribution to the Agent, each
Lender and the Borrower; 
 (ii)    a Note executed by the Borrower in favor of each Lender requesting a
Note; 
 (iii)    such certificates of resolutions or other action, incumbency certificates and/or other
certificates of Responsible Officers of each Loan Party as the Agent may reasonably require evidencing (A) the authority of each Loan Party to enter into this Agreement and the other Loan Documents to which such Loan Party is a party or is to
become a party and (B) 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 become a party; 
 (iv)    copies of each Loan Party’s Organization Documents and such other
documents and certifications as the Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in each jurisdiction
where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to so qualify in such jurisdiction would not reasonably be expected to have a Material Adverse
Effect; 
 (v)    a favorable opinion of Pepper Hamilton LLP, counsel to the Loan Parties, addressed to
the Agent and each Lender, as to such matters concerning the Loan Parties and the Loan Documents as the Agent may reasonably request; 

(vi)    a certificate signed by a Responsible Officer of the Borrower certifying (A) that the
conditions specified in Sections 4.02(a) and (b) have been satisfied, (B) that there has been no event or circumstance since April 2, 2020 that has had or would be reasonably expected to have, either individually or in
the aggregate, a Material Adverse Effect, (C) to the Solvency of the Loan Parties as of the Closing Date after giving effect to the transactions contemplated hereby, and (D) either that (1) no consents, licenses or approvals are
required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, or (2) that all such consents, licenses and approvals have been
obtained and are in full force and effect; 

  
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 (vii)    evidence that all insurance required to be
maintained pursuant to the Loan Documents and, subject to Section 6.21, all endorsements in favor of the Agent required under the Loan Documents have been obtained and are in effect; 

(viii)    the Security Documents and certificates evidencing any stock being pledged thereunder, together
with undated stock powers executed in blank, each duly executed by the applicable Loan Parties; 

(ix)    the Facility Guaranty; 

(x)    all other Loan Documents, each duly executed by the applicable Loan Parties; 

(xi)    results of searches or other evidence reasonably satisfactory to the Agent (in each case dated as
of a date reasonably satisfactory to the Agent) indicating the absence of Liens on the assets of the Loan Parties, except for Permitted Encumbrances and Liens for which termination statements and releases, satisfactions and discharges of any
mortgages, and releases or subordination agreements reasonably satisfactory to the Agent are being tendered concurrently with such extension of credit or other arrangements reasonably satisfactory to the Agent for the delivery of such termination
statements and releases, satisfactions and discharges have been made; 
 (xii)    all documents and
instruments, including Uniform Commercial Code financing statements, required by law or reasonably requested by the Agent to be filed, registered or recorded to create or perfect the first priority Liens (subject to Permitted Encumbrances that have
priority by operation of Law) intended to be created under the Loan Documents and all such documents and instruments shall have been so filed, registered or recorded to the satisfaction of the Agent; and 

(xiii)    such other assurances, certificates, documents, consents or opinions as the Agent reasonably may
require. 
 (b)    After giving effect to (i) any Loans outstanding or made hereunder on the Closing
Date, (ii) any charges to the Loan Account made on the Closing Date and (iii) all Letters of Credit issued or outstanding on the Closing Date, Availability shall be not less than $80,000,000. 

(c)    The Agent shall have received a Borrowing Base Certificate dated the Closing Date, relating to the
Fiscal Month ended on April 4, 2020, and executed by a Responsible Officer of the Borrower. 

(d)    The Agent shall be reasonably satisfied that any financial statements delivered to it fairly present
the business and financial condition of the Loan Parties and that there has been no Material Adverse Effect since April 2, 2020. 

(e)    The Agent shall have received and be satisfied with (i) a detailed forecast for the period
commencing on the Closing Date and ending with the end of the current 

  
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Fiscal Year, which shall include an Availability model, Consolidated income statement, balance sheet, and statement of cash flow, by month, each prepared in conformity with GAAP and consistent
with the Loan Parties’ then current practices and (b) such other information (financial or otherwise) reasonably requested by the Agent. 

(f)    There shall not be pending any litigation or other proceeding, the result of which, either
individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

(g)    There shall not have occurred any default of any Material Contract of any Loan Party. 

(h)    The consummation of the transactions contemplated hereby shall not violate any applicable Law or any
Organization Document. 
 (i)    All fees and expenses required to be paid to the Agent or the Arrangers
on or before the Closing Date shall have been paid in full, all fees and expenses required to be paid to the Lenders on or before the Closing Date shall have been paid in full, and all fees and expenses required to be paid to the lenders under the
Existing Credit Agreement shall have been paid in full. 
 (j)    The Borrower shall have paid all fees,
charges and disbursements of counsel to the Agent to the extent invoiced prior to or on the Closing Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and
disbursements incurred or to be incurred by it through the Closing Date (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Agent). 

(k)    The Agent and the Lenders shall have received all documentation and other information required by
regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the USA PATRIOT Act in each case, the results of which are satisfactory to the Agent, and with
respect to any Loan Party that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to such Loan Party, which such Beneficial Ownership Certification shall be
complete and accurate in all respects. 
 (l)    No material changes in governmental regulations or
policies affecting any Loan Party or any Credit Party shall have occurred prior to the Closing Date. 
 Without limiting the generality of the provisions of
Section 9.04, 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 Agent shall have received notice from such Lender prior to the proposed
Closing Date specifying its objection thereto. 

  
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 4.02    Conditions to all Credit Extensions. The obligation of
each Lender to honor any Request for Credit Extension (other than a LIBOR Rate Loan Notice requesting only a continuation of LIBOR Rate Loans) and each L/C Issuer to issue each Letter of Credit is subject to the following conditions precedent: 

(a)    The representations and warranties of each Loan Party contained in Article V or in any other
Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct in all material respects on and as of the date of such Credit Extension, except (i) to the
extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, (ii) in the case of any representation and warranty qualified by materiality, they
shall be true and correct in all respects, and (iii) for purposes of this Section 4.02, the representations and warranties contained in subsections (a) and (b) of Section 5.05
shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01; 

(b)    No Default or Event of Default shall exist, or would result from such proposed Credit Extension or
from the application of the proceeds thereof; 
 (c)    The Agent and, if applicable, the L/C Issuer or
the Swing Line Lender shall have received a Request for Credit Extension or an updated Borrowing Base Certificate, as applicable, in accordance with the requirements hereof;
and 

(d)    No Overadvance shall result from such Credit Extension; and 

(e)    After giving effect to the requested Borrowing, in
the event that the Outstanding Amount of all Loans hereunder would exceed $50,000,000, the Consolidated Cash Balance of the Borrower shall not exceed $50,000,000. 

Each Request for Credit Extension (other than a LIBOR Rate Loan Notice requesting only a continuation of LIBOR Rate Loans) submitted by the Borrower shall be
deemed to be a representation and warranty by the Borrower that the conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension. The conditions set forth in this
Section 4.02 are for the sole benefit of the Credit Parties but until the Required Lenders otherwise direct the Agent to cease making Loans and issuing Letters of Credit, the Lenders will fund their Applicable Percentage of
all Loans and participate in all Swing Line Loans and Letters of Credit whenever made or issued, which are requested by the Borrower and which, notwithstanding the failure of the Loan Parties to comply with the provisions of this Article IV,
agreed to by the Agent, provided, however, the making of any such Loans or the issuance of any Letters of Credit shall not be deemed a modification or waiver by any Credit Party of the provisions of this Article IV on any future occasion or a
waiver of any rights or the Credit Parties as a result of any such failure to comply. 

  
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 ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

To induce the Credit Parties to enter into this Agreement and to make Loans and to issue Letters of Credit hereunder, each Loan Party
represents and warrants to the Agent and the other Credit Parties that: 
 5.01    Existence, Qualification and
Power. Each Loan Party and each Subsidiary thereof (a) is a corporation, limited liability company, partnership or limited partnership, duly incorporated, organized or formed, validly existing and, where applicable, in good standing under
the Laws of the jurisdiction of its incorporation, organization, or formation (b) has all requisite power and authority and all requisite governmental licenses, permits, authorizations, consents and approvals to (i) own or lease its assets
and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, and (c) is duly qualified and is licensed and, where applicable, in good standing under the Laws of each
jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so would not
reasonably be expected to have a Material Adverse Effect. Schedule 5.01 to the Disclosure Letter sets forth, as of the Closing Date, each Loan Party’s name as it appears in official filings in its state of incorporation or organization,
its state of incorporation or organization, organization type, organization number, if any, issued by its state of incorporation or organization, and its federal employer identification number. 

5.02    Authorization; No Contravention. The execution, delivery and performance by each Loan Party of each Loan
Document to which such Person is or is to be a party, has been duly authorized by all necessary corporate or other organizational action, and does not and will not (a) contravene the terms of any of such Person’s Organization Documents;
(b) conflict with or result in any breach, termination, or contravention of, or constitute a default under, or require any payment to be made under (i) any Material Contract or any Material Indebtedness to which such Person is a party or
affecting such Person or the properties of such Person or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; (c) result
in or require the creation of any Lien upon any asset of any Loan Party (other than Liens in favor of the Agent under the Security Documents); or (d) violate any Law except where such violation would not reasonably be expected to have a
Material Adverse Effect. 
 5.03    Governmental Authorization; Other Consents. No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person 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 (a) the perfection or maintenance of the Liens created under the Security Documents (including the first priority nature thereof, subject to Permitted Encumbrances that have priority by operation
of Law) or (b) such as have been obtained or made and are in full force and effect. 
 5.04    Binding
Effect. This Agreement has been, and each other Loan Document, when delivered, will have been, duly executed and delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will
constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is party thereto in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

  
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 5.05    Financial Statements; No Material Adverse Effect. 

(a)    The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied
throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered
thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all Material Indebtedness and other liabilities, direct or contingent, of the Borrower and
its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness. 

(b)    Since April 2, 2020, 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. 
 (c)    To
the best knowledge of the Borrower, no Internal Control Event exists or has occurred since the date of the Audited Financial Statements that has resulted in or would reasonably be expected to result in a misstatement in any material respect,
(i) in any financial information delivered or to be delivered to the Agent or the Lenders, (ii) of the Borrowing Base, (iii) of covenant compliance calculations provided hereunder or (iv) of the assets, liabilities, financial
condition or results of operations of the Borrower and its Subsidiaries on a Consolidated basis. 

(e)    The Consolidated forecasted balance sheet and statements of income and cash flows of the Borrower
and its Subsidiaries delivered pursuant to Section 6.01(d) were prepared in good faith on the basis of the assumptions stated therein, which assumptions were fair in light of the conditions existing at the time of delivery
of such forecasts, and represented, at the time of delivery, the Loan Parties’ best estimate of its future financial performance. 

5.06    Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of
the Loan Parties, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or any of its Subsidiaries or against any of its properties or revenues that (a) purport to
affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby, or (b) except as specifically disclosed in Schedule 5.06 to the Disclosure Letter, either individually or in the aggregate,
would reasonably be expected to have a Material Adverse Effect, and since the Closing Date, there has been no adverse change in the status of the matters described on Schedule 5.06 to the Disclosure Letter, or financial effect on any Loan
Party or any Subsidiary thereof, that would reasonably be expected to have a Material Adverse Effect. 
 5.07    No
Default. No Loan Party or any Subsidiary is in default under or with respect to any Material Indebtedness. No Default or Event of Default has occurred and is continuing or would result from the consummation of the transactions contemplated by
this Agreement or any other Loan Document. 

  
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 5.08    Ownership of Property; Liens 

(a)    Each of the Loan Parties and each Subsidiary thereof has good record and marketable title in fee
simple to or valid leasehold interests in, all Real Estate necessary or used in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. Each of the Loan Parties and each Subsidiary has good and marketable title to, valid leasehold interests in, or valid licenses to use all personal property and assets material to the ordinary conduct of its business. 

(b)    Schedule 5.08(b)(1) to the Disclosure Letter sets forth the address (including street
address, county and state) of all Real Estate that is owned by the Loan Parties and each of their Subsidiaries, together with a list of the holders of any mortgage or other Lien thereon as of the Closing Date. Each Loan Party and each of its
Subsidiaries has good, marketable and insurable fee simple title to the Real Estate owned by such Loan Party or such Subsidiary, free and clear of all Liens, other than Permitted Encumbrances. Schedule 5.08(b)(2) to the Disclosure Letter sets
forth, as of the Closing Date, the address (including street address, county and state) of all Leases of the Loan Parties, together with a list of the lessor and its contact information with respect to each such Lease. Each of such Leases is in full
force and effect and the Loan Parties are not in default of the terms thereof. 
 5.09    Environmental
Compliance 
 (a)    Except as specifically disclosed in Schedule 5.09 to the Disclosure
Letter, no Loan Party or any Subsidiary thereof (i) has failed to comply in any material respect with any Environmental Law or to obtain, maintain or comply in any material respect with any permit, license or other approval required under any
Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability, except, in each
case, as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b)    Except as otherwise set forth in Schedule 5.09 to the Disclosure Letter, none of the
properties currently or, to the knowledge of any Loan Party or Subsidiary thereof, formerly owned or operated by any Loan Party or any Subsidiary thereof is listed or proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state
or local list or is adjacent to any such property; there are no and never have been any underground or above-ground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been
treated, stored or disposed on any property currently owned or operated by any Loan Party or any Subsidiary thereof or, to the best of the knowledge of the Loan Parties, on any property formerly owned or operated by any Loan Party or Subsidiary
thereof; there is no asbestos or asbestos-containing material in violation of Environmental Law or that would reasonably be 

  
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expected to be required to be removed or remediated on any property currently owned or operated by any Loan Party or Subsidiary thereof; and Hazardous Materials have not been released, discharged
or disposed of on any property currently or, to the knowledge of any Loan Party or Subsidiary thereof, formerly owned or operated by any Loan Party or any Subsidiary thereof. For the avoidance of doubt, no Loan Party nor any Subsidiary thereof, has
undertaken any investigation of any kind with respect current conditions at, or status of any formerly owned property. 

(c)    Except as otherwise set forth on Schedule 5.09 to the Disclosure Letter, no Loan Party or any
Subsidiary thereof is undertaking, and no Loan Party or any Subsidiary thereof has completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any
actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any Environmental Law; and all Hazardous
Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by any Loan Party or any Subsidiary thereof have been disposed of in a manner not reasonably expected to result
in material liability to any Loan Party or any Subsidiary thereof. 
 5.10    Insurance. The properties of the
Loan Parties and their Subsidiaries are insured with financially sound and reputable insurance companies which are not Affiliates of the Loan Parties, in such amounts, with such deductibles and covering such risks (including, without limitation,
workmen’s compensation, public liability, business interruption and property damage insurance) as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Loan Parties or the
applicable Subsidiary operates. Schedule 5.10 to the Disclosure Letter sets forth a description of all insurance maintained by or on behalf of the Loan Parties and their Subsidiaries as of the Closing Date. Each insurance policy listed on
Schedule 5.10 to the Disclosure Letter is in full force and effect and all premiums in respect thereof that are due and payable have been paid. 

5.11    Taxes. The Loan Parties and their Subsidiaries have filed all Federal, state and other material tax returns
and reports required to be filed, and have paid all Federal, state and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those
which are being contested in good faith by appropriate proceedings being diligently conducted, for which adequate reserves have been provided in accordance with GAAP, as to which Taxes no Lien has been filed and which contest effectively suspends
the collection of the contested obligation and the enforcement of any Lien securing such obligation. There is no proposed tax assessment against any Loan Party or any Subsidiary that would, if made, be reasonably expected to have a Material Adverse
Effect. No Loan Party or any Subsidiary thereof is a party to any tax sharing agreement. 
 5.12    ERISA
Compliance. 
 (a)    The Borrower, each of its ERISA Affiliates, and each Pension Plan is in
compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state Laws. Each Plan that is intended to qualify under Section 401(a) of 

  
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the Code has received a favorable determination letter or opinion letter from the IRS or an application for such a letter is currently being processed by the IRS with respect thereto and, to the
best knowledge of the Borrower, nothing has occurred which would prevent, or cause the loss of, such qualification. The Loan Parties and each ERISA Affiliate have made all required contributions to each Pension Plan subject to Sections 412 or 430 of
the Code and to each Multiemployer Plan, and no application for a funding waiver or an extension of any amortization period pursuant to Sections 412 or 430 of the Code has been made with respect to any such Plan. No Lien imposed under the Code or
ERISA exists or is likely to arise on account of any Pension Plan or Multiemployer Plan. 
 (b)    There
are no pending or, to the best knowledge of the Borrower, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that would reasonably be expected to have a Material Adverse Effect. There has been
no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Pension Plan that has resulted or would reasonably be expected to result in a Material Adverse Effect. 

(c)    (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has
any Unfunded Pension Liability; (iii) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not
delinquent under Section 4007 of ERISA); (iv) neither any Loan Party nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of
ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (v) neither any Loan Party nor any ERISA Affiliate has engaged in a transaction that could be subject to Sections 4069 or
4212(c) of ERISA. 
 5.13    Subsidiaries; Equity Interests. 

The Loan Parties have no Subsidiaries other than those specifically disclosed in Part (a) of Schedule 5.13 to the Disclosure
Letter, which Schedule sets forth the legal name, jurisdiction of incorporation or formation and authorized Equity Interests of each such Subsidiary. All of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully
paid and non-assessable and are owned by a Loan Party (or a Subsidiary of a Loan Party) in the amounts specified on Part (a) of Schedule 5.13 free and clear of all Liens except for those created
under the Security Documents and Permitted Encumbrances arising by operation of Law. Except as set forth in Schedule 5.13 to the Disclosure Letter, there are no outstanding rights to purchase any Equity Interests in any Subsidiary. The Loan
Parties have no equity investments in any other corporation or entity other than those specifically disclosed in Part (b) of Schedule 5.13 to the Disclosure Letter. All of the outstanding Equity Interests in the Loan Parties have been
validly issued, and are fully paid and non-assessable and are owned in the amounts specified on Part (c) of Schedule 5.13 to the Disclosure Letter free and clear of all Liens except for those
created under the Security Documents and Permitted Encumbrances arising by operation of Law. The copies of the Organization Documents of each Loan Party and each amendment thereto provided pursuant to Section 4.01 are true
and correct copies of each such document, each of which is valid and in full force and effect. 

  
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 5.14    Margin Regulations; Investment Company Act; 

(a)    No Loan Party is engaged or will be engaged, principally or as one of its important activities, in
the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. None of the proceeds of the Credit Extensions shall be used
directly or indirectly for the purpose of purchasing or carrying any margin stock, for the purpose of reducing or retiring any Indebtedness that was originally incurred to purchase or carry any margin stock or for any other purpose that might cause
any of the Credit Extensions to be considered a “purpose credit” within the meaning of Regulations T, U, or X issued by the FRB. 

(b)    None of the Loan Parties, any Person Controlling any Loan Party, or any Subsidiary is or is required
to be registered as an “investment company” under the Investment Company Act of 1940. 

5.15    Disclosure. As of the Closing Date, each Loan Party has disclosed to the Agent and the Lenders all
agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse
Effect. No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party to the Agent or any Lender in connection with the transactions contemplated hereby and the
negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Loan Parties represent only that such information was
prepared in good faith based upon assumptions believed to be reasonable at the time. As of the Closing Date, the information included in the Beneficial Ownership Certification is true and correct in all respects. 

5.16    Compliance with Laws. Each of the Loan Parties and each Subsidiary is in compliance (A) in all
material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (i) such requirement of Law or order, writ, injunction or decree is
being contested in good faith by appropriate proceedings diligently conducted or (ii) the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect and (B) with
Section 10.17 and 10.18. 
 5.17    Intellectual Property; Licenses, Etc. The
Loan Parties and their Subsidiaries own, or possess the right to use, all of the Intellectual Property necessary for the operation of their respective businesses, without conflict with the rights of any other Person. To the best knowledge of the
Borrower, no slogan or other advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be employed, by any Loan Party or any Subsidiary infringes upon any rights held by any other Person.
Except as specifically disclosed in Schedule 5.17 to the Disclosure Letter, no claim or litigation regarding any of the foregoing is pending or, to the best knowledge of the Borrower, threatened, which, either individually or in the
aggregate, would reasonably be expected to have a Material Adverse Effect. 

  
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 5.18    Labor Matters. 

As of the Closing Date, there are no strikes, lockouts, slowdowns or other material labor disputes against any Loan Party or any Subsidiary
thereof pending or, to the knowledge of any Loan Party, threatened. The hours worked by and payments made to employees of the Loan Parties comply with the Fair Labor Standards Act and any other applicable federal, state, local or foreign Law dealing
with such matters. No Loan Party or any of its Subsidiaries has incurred any liability or obligation under the Worker Adjustment and Retraining Act or similar state Law. All payments due from any Loan Party and its Subsidiaries, or for which any
claim may be made against any Loan Party or any of its Subsidiaries, on account of wages and employee health and welfare insurance and other benefits, have been paid or properly accrued in accordance with GAAP as a liability on the books of such
Loan Party. Except as set forth on Schedule 5.18 to the Disclosure Letter, no Loan Party or any Subsidiary is a party to or bound by any collective bargaining agreement, management agreement, employment agreement, bonus, restricted stock,
stock option, or stock appreciation plan or agreement or any similar plan, agreement or arrangement. There are no representation proceedings pending or, to any Loan Party’s knowledge, threatened to be filed with the National Labor Relations
Board, and no labor organization or group of employees of any Loan Party or any Subsidiary has made a pending demand for recognition. There are no complaints, unfair labor practice charges, grievances, arbitrations, unfair employment practices
charges or any other claims or complaints against any Loan Party or any Subsidiary pending or, to the knowledge of any Loan Party, threatened to be filed with any Governmental Authority or arbitrator based on, arising out of, in connection with, or
otherwise relating to the employment or termination of employment of any employee of any Loan Party or any of its Subsidiaries. The consummation of the transactions contemplated by the Loan Documents will not give rise to any right of termination or
right of renegotiation on the part of any union under any collective bargaining agreement to which any Loan Party or any of its Subsidiaries is bound. 

5.19    Security Documents. 

(a)    The Security Agreement creates in favor of the Agent, for the benefit of the Credit Parties referred
to therein, a legal, valid, continuing and enforceable security interest in the Collateral (as defined in the Security Agreement), the enforceability of which is subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. The financing statements, releases and other filings are in appropriate form and have been
or will be filed in the offices specified in Schedule II of the Security Agreement. Upon such filings and/or the obtaining of “control,” (as defined in the UCC) the Agent will have a perfected Lien on, and security interest in, to and
under all right, title and interest of the grantors thereunder in all Collateral that may be perfected by filing, recording or registering a financing statement or analogous document (including without limitation the proceeds of such Collateral
subject to the limitations relating to such proceeds in the UCC) or by obtaining control, under the UCC (in effect on the date this representation is made) in each case prior and superior in right to any other Person. 

  
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 (b)    When the Security Agreement (or a short form
thereof) is filed in the United States Patent and Trademark Office and the United States Copyright Office and when financing statements, releases and other filings in appropriate form are filed in the offices specified in Schedule II of the Security
Agreement, the Agent shall have a fully perfected Lien on, and security interest in, all right, title and interest of the applicable Loan Parties in the Intellectual Property (as defined in the Security Agreement) in which a security interest may be
perfected by filing, recording or registering a security agreement, financing statement or analogous document in the United States Patent and Trademark Office or the United States Copyright Office, as applicable, in each case prior and superior in
right to any other Person (it being understood that subsequent recordings in the United States Patent and Trademark Office and the United States Copyright Office may be necessary to perfect a Lien on registered trademarks, trademark applications and
copyrights acquired by the Loan Parties after the Closing Date). 
 5.20    Solvency 

After giving effect to the transactions contemplated by this Agreement, and before and after giving effect to each Credit Extension, the Loan
Parties, on a Consolidated basis, are Solvent. No transfer of property has been or will be made by any Loan Party and no obligation has been or will be incurred by any Loan Party in connection with the transactions contemplated by this Agreement or
the other Loan Documents with the intent to hinder, delay, or defraud either present or future creditors of any Loan Party. 

5.21    Deposit Accounts; Credit Card Arrangements. 

(a)    Schedule 5.21(a) to the Disclosure Letter annexes a list of all DDAs maintained by the Loan
Parties as of the Closing Date, which Schedule includes, with respect to each DDA (i) the name and address of the depository; (ii) the account number(s) maintained with such depository; (iii) a contact person at such depository,
(iv) the identification of each Blocked Account Bank and (v) the identification of all such DDAs that are not required to be subject to a Blocked Account Agreement. 

(b)    Schedule 5.21(b) to the Disclosure Letter annexes a list describing all arrangements as of
the Closing Date to which any Loan Party is a party with respect to the processing and/or payment to such Loan Party of the proceeds of any credit card charges and debit card charges for sales made by such Loan Party (the “Credit Card
Agreements”). 
 5.22    Brokers. No broker or finder brought about the obtaining, making or closing of
the Loans or transactions contemplated by the Loan Documents, and no Loan Party or Affiliate thereof has any obligation to any Person in respect of any finder’s or brokerage fees in connection therewith. 

5.23    Customer and Trade Relations. There exists no actual or, to the knowledge of any Loan Party, threatened,
termination or cancellation of, or any material adverse modification or change in the business relationship of any Loan Party with any supplier material to its operations that would reasonably be expected to have a Material Adverse Effect. 

  
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 5.24    Material Contracts. Schedule 5.24 to the
Disclosure Letter sets forth all Material Contracts to which any Loan Party is a party or is bound as of the Closing Date. The Loan Parties have delivered true, correct and complete copies of such Material Contracts to the Agent on or before the
Closing Date. The Loan Parties are not in breach or in default in any material respect of or under any Material Contract and have not received any notice of the intention of any other party thereto to terminate any Material Contract. 

5.25    Casualty. Neither the businesses nor the properties of any Loan Party or any of its Subsidiaries are
affected by any fire, explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty (each, a “Casualty Event”) (whether or not covered by
insurance) that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

5.26    OFAC/Sanctions. 

No Loan Party nor any of its Subsidiaries is in violation of any Sanctions. No Loan Party nor any of its Subsidiaries nor, to the knowledge of
such Loan Party, any director, officer, employee, agent or Affiliate of such Loan Party or such Subsidiary (a) is a Sanctioned Person or a Sanctioned Entity, (b) has any assets located in Sanctioned Entities, or (c) derives revenues
from investments in, or transactions with Sanctioned Persons or Sanctioned Entities. Each of the Loan Parties and its Subsidiaries has implemented and maintains in effect policies and procedures designed to ensure compliance by the Loan Parties and
their Subsidiaries and their respective directors, officers, employees, agents and Affiliates with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. Each of the Loan Parties and its Subsidiaries, and to the knowledge of each such
Loan Party, each director, officer, employee, agent and Affiliate of each such Loan Party and each such Subsidiary, is in compliance with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws in all material respects. No proceeds of any
loan made or Letter of Credit issued hereunder will be used to fund any operations in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Entity, or otherwise used in any manner that would result
in a violation of any applicable Sanctions, Anti-Corruption Laws or Anti-Money Laundering Laws by any Person (including any Credit Party or other individual or entity participating in any transaction). 

5.27    PATRIOT Act. 

To the extent applicable, each Loan Party is in compliance, in all material respects, with the (a) Trading with the Enemy Act, as amended,
and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (b) Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Act of 2001, as amended) (the “Patriot Act”). 

5.28    Covered Entities. The Borrower is not a Covered Entity. 

  
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 ARTICLE VI 

AFFIRMATIVE COVENANTS 
 So
long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied (other than contingent indemnification obligations for which a claim has not been asserted), or any Letter of Credit
shall remain outstanding, the Loan Parties shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02, and 6.03) cause each Subsidiary to: 

6.01    Financial Statements. Deliver to the Agent, in form and detail reasonably satisfactory to the Agent: 

(a)    as soon as available, but in any event within 90 days after the end of each Fiscal Year of the
Borrower, commencing with the Fiscal Year ending February 1, 2020 (or, so long as the Borrower shall be subject to periodic reporting obligations under the Securities Exchange Act of 1934, by the date that the Annual Report on Form 10-K of the Borrower for such fiscal year would be required to be filed under the rules and regulations of the SEC, giving effect to any automatic extension available thereunder for the filing of such form), a
Consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such Fiscal Year, and the related consolidated statements of income or operations, Shareholders’ Equity and cash flows for such Fiscal Year, setting forth in each
case in comparative form the figures for the previous Fiscal Year, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements to be audited and accompanied by (i) a report and unqualified opinion of a Registered
Public Accounting Firm of nationally recognized standing reasonably acceptable to the Agent, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going
concern” or like qualification or exception or any qualification or exception as to the scope of such audit and (ii) an opinion of such Registered Public Accounting Firm independently assessing Loan Parties’ internal controls over
financial reporting in accordance with Item 308 of SEC Regulation S-K, PCAOB Auditing Standard No. 2, and Section 404 of Sarbanes-Oxley expressing a conclusion that contains no statement that there
is a material weakness in such internal controls, except for such material weaknesses as to which the Required Lenders do not object; 

(b)    as soon as available, but in any event within 45 days after the end of each Fiscal Quarter of each
Fiscal Year of the Borrower (commencing with the Fiscal Quarter ended April 30, 2020) (or, so long as the Borrower shall be subject to periodic reporting obligations under the Securities Exchange Act of 1934, by the date that the Quarterly
Report on Form 10-Q of the Borrower for such fiscal quarter would be required to be filed under the rules and regulations of the SEC, giving effect to any automatic extension available thereunder for the
filing of such form), a Consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such Fiscal Quarter, and the related consolidated statements of income or operations, Shareholders’ Equity and cash flows for such Fiscal
Quarter and for the portion of the Borrower’s Fiscal Year then ended, setting forth in each case in comparative form the figures for (A) such period set forth in the projections delivered pursuant to
Section 6.01(d) hereof, (B) the corresponding Fiscal Quarter of the previous Fiscal Year and (C) the corresponding portion of the previous Fiscal Year, all in reasonable detail, such Consolidated statements to be
certified by a Responsible Officer of the Borrower as fairly presenting the financial condition, results of operations, Shareholders’ Equity and cash flows of the Borrower and its Subsidiaries as of the end of such Fiscal Quarter in accordance
with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes; 

  
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 (c)    [reserved]; 

(d)    as soon as available, but in any event no more than 60 days after the end of each Fiscal Year of the
Borrower, forecasts prepared by management of the Borrower, in form reasonably satisfactory to the Agent, of consolidated balance sheets and statements of income or operations and cash flows of the Borrower and its Subsidiaries on a monthly basis
for the immediately following Fiscal Year (including the Fiscal Year in which the Maturity Date occurs), and as soon as available, any significant revisions to such forecast with respect to such Fiscal Year. 

6.02    Certificates; Other Information. Deliver to the Agent, in form and detail reasonably satisfactory to the
Agent: 
 (a)    concurrently with the delivery of the financial statements referred to in Sections
6.01(a) and (b), a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower, and in the event of any change in generally accepted accounting principles used in the preparation of such financial statements, the
Borrower shall also provide: (i) a statement of reconciliation conforming such financial statements to GAAP and (ii) a copy of management’s discussion and analysis with respect to such financial statements; 

(b)    
(x) prior to the First Amendment Effective Date and after the date on which the Deferred Diligence Period ends, a
Borrowing Base Certificate showing the Borrowing Base as of the close of business as of the last day of the immediately preceding Fiscal Month on the 15th day of each Fiscal Month (or, if such day
is not a Business Day, on the next succeeding Business Day), (y) from the First Amendment Effective Date through
the end of the Deferred Diligence Period, a Borrowing Base Certificate showing the Borrowing Base as of the close of business as of the last day of the immediately preceding Fiscal Month (provided thatQuarter
on the 15th day after the end of each Fiscal Quarter (or, if such day is not a Business Day, on the next succeeding Business Day), and (z) on the date on which the Deferred Diligence Period terminates, a Borrowing Base Certificate
showing the Borrowing Base as of the close of business as of the last day of the immediately preceding
Fiscal Month, each Borrowing Base Certificate delivered pursuant to the foregoing clauses (x) through (z)
to be certified as complete and correct by a Responsible Officer of the Borrower and, in each case, the Appraised Value applied to the Eligible
Inventory set forth in each Borrowing Base Certificate shall be the Appraised Value set forth in the most recent appraisal obtained by the Agent pursuant to Section 6.10 hereof for the applicable monthperiod to which such Borrowing Base Certificate relates), each Borrowing Base Certificate to be certified as complete and correct by a Responsible Officer of the
Borrowerrelates; provided that at any time
that a Weekly Borrowing Base Delivery Event has occurred and is continuing, at the election of the Agent, such Borrowing Base Certificate shall be delivered on Wednesday of each week (or, if such Wednesday is not a Business Day, on the next
succeeding Business Day), as of the close of business on the Saturday of the immediately preceding week.; 

  
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 (c)    promptly upon receipt, copies of any detailed
audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of any Loan Party by its Registered Public Accounting Firm in connection with the accounts or books of the
Loan Parties or any Subsidiary, or any audit of any of them, including, without limitation, specifying any Internal Control Event; 

(d)    promptly after the same are available, copies of each annual report, proxy or financial statement or
other report or communication sent to the stockholders of the Loan Parties, and copies of all annual, regular, periodic and special reports and registration statements which any Loan Party may file or be required to file with the SEC under
Section 13 or 15(d) of the Securities Exchange Act of 1934 or with any national securities exchange, and in any case not otherwise required to be delivered to the Agent pursuant hereto; 

(e)    The financial and collateral reports described on Schedule 6.02, at the times set forth in
such Schedule; 
 (f)    promptly after the furnishing thereof, copies of any material statement or
report furnished to any holder of debt securities of any Loan Party or any Subsidiary thereof pursuant to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lenders pursuant to
Section 6.01 or any other clause of this Section 6.02; 

(g)    as soon as available, but in any event within 60 days after the end of each Fiscal Year of the Loan
Parties, a report summarizing the insurance coverage (specifying type, amount and carrier) in effect for each Loan Party and its Subsidiaries and containing such additional information as the Agent, or any Lender through the Agent, may reasonably
specify; 
 (h)    promptly after the Agent’s request therefor, copies of all Material Contracts and
documents evidencing Material Indebtedness; 
 (i)    promptly, and in any event within five Business
Days after receipt thereof by any Loan Party or any Subsidiary thereof, copies of each notice or other correspondence received from any Governmental Authority (including, without limitation, the SEC (or comparable agency in any applicable non-U.S. jurisdiction)) concerning any proceeding with, or investigation or possible investigation or other inquiry by such Governmental Authority regarding financial or other operational results of any Loan Party
or any Subsidiary thereof or any other matter which, if adversely determined, would reasonably expected to have a Material Adverse Effect; and 

(j)    promptly, such additional information regarding the business affairs, financial condition or
operations of any Loan Party or any Subsidiary, or compliance with the terms of the Loan Documents, as the Agent or any Lender may from time to time reasonably request. 

Documents required to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02(c) (to
the extent any such documents are included in materials otherwise filed with the SEC) may be 

  
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delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the
Borrower’s website on the Internet at the website address listed on Schedule 10.02; (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Agent have
access (whether a commercial, third-party website or whether sponsored by the Agent) or shall be available on the website of the SEC at http://www.sec.gov. Notwithstanding anything contained herein, in every instance the Borrower shall be required
to provide paper copies of the Compliance Certificates required by Section 6.02(a) to the Agent. The Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in
any event shall have no responsibility to monitor compliance by the Loan Parties with any such request for delivery, and each Lender shall be solely responsible for maintaining its copies of such documents. 

Each Loan Party agrees that Agent may make materials or information provided by or on behalf of Borrower hereunder (the “Borrower
Materials”) available to the Lenders by posting the Communications on IntraLinks, SyndTrak or a substantially similar secure electronic transmission system (the “Platform”). The Platform is provided “as is” and
“as available.” Agent does not warrant the accuracy or completeness of the Borrower Materials, or the adequacy of the Platform and expressly disclaim liability for errors or omissions in the communications. No warranty of any kind,
express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a particular purpose, non-infringement of third party rights or freedom from viruses or other code
defects, is made by Agent in connection with the Borrower Materials or the Platform. In no event shall Agent or any of the Agent Parties have any liability to the Loan Parties, any Lender or any other person for damages of any kind, including direct
or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of any Loan Party’s or Agent’s transmission of communications through the Internet, except to the extent the
liability of such person is found in a final non-appealable judgment by a court of competent jurisdiction to have resulted from such person’s gross negligence or willful misconduct. Each Loan Party
further agrees that certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Loan Parties or their
securities) (each, a “Public Lender”). The Loan Parties shall be deemed to have authorized Agent and its Affiliates and the Lenders to treat Borrower Materials marked “PUBLIC” or otherwise at any time filed with the SEC as
not containing any material non-public information with respect to the Loan Parties or their securities for purposes of United States federal and state securities laws. All Borrower Materials marked
“PUBLIC” are permitted to be made available through a portion of the Platform designated as “Public Investor” (or another similar term). Agent and its Affiliates and the Lenders shall be entitled to treat the Borrower Materials
that are not marked “PUBLIC” or that are not at any time filed with the SEC as being suitable only for posting on a portion of the Platform not marked as “Public Investor” (or such other similar term). 

6.03    Notices. Promptly notify the Agent: 

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

(b)    of any matter that has resulted or would reasonably be expected to result in a Material Adverse
Effect; 

  
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 (c)    of any breach or
non-performance of, or any default under, a Material Contract or with respect to Material Indebtedness of any Loan Party or any Subsidiary thereof; 

(d)    of any dispute, litigation, investigation, proceeding or suspension between any Loan Party or any
Subsidiary thereof and any Governmental Authority or the commencement of, or any material development in, any litigation or proceeding affecting any Loan Party or any Subsidiary thereof, including pursuant to any applicable Environmental Laws, in
each case, which would reasonably be expected to have a Material Adverse Effect; 
 (e)    of the
occurrence of any ERISA Event; 
 (f)    of any material change in accounting policies or financial
reporting practices by any Loan Party or any Subsidiary thereof; 
 (g)    of any change in any Loan
Party’s senior executive officers; 
 (h)    of the discharge by any Loan Party of its present
Registered Public Accounting Firm or any withdrawal or resignation by such Registered Public Accounting Firm; 

(i)    of any collective bargaining agreement or other labor contract to which a Loan Party becomes a
party, or the application for the certification of a collective bargaining agent; 
 (j)    of the filing
of any Lien for unpaid Taxes against any Loan Party; 
 (k)    of any casualty or other insured damage to
any material portion of the Collateral or the commencement of any action or proceeding for the taking of any interest in a material portion of the Collateral under power of eminent domain or by condemnation or similar proceeding or if any material
portion of the Collateral is damaged or destroyed; 
 (l)    of any transaction of the nature contained
in ARTICLE VII hereof; and 
 (m)    of any failure by any Loan Party to pay rent or such other
amounts due at (i) any distribution centers or warehouses or any of a Loan Party’s locations if such failure continues for more than fifteen (15) days following the day on which such rent first came due and such failure would be
reasonably likely to result in a Material Adverse Effect. 
 Each notice pursuant to this Section shall be accompanied by a statement of a Responsible
Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. Each notice pursuant to Section 6.03(a) shall
describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 

6.04    Payment of Obligations. Pay and discharge as the same shall become due and payable, (a) all material
tax liabilities, assessments and governmental charges or levies upon it or 

  
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its properties or assets, (b) all lawful claims (including, without limitation, claims of landlords, warehousemen, customs brokers, freight forwarders, consolidators and carriers) which, if
unpaid, would by law become a Lien upon its property, and (c) all material Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness, except, in
each case, where (x) (i) the validity or amount thereof is being contested in good faith by appropriate proceedings, (ii) such Loan Party has set aside on its books adequate reserves with respect thereto in accordance with GAAP,
(iii) such contest effectively suspends collection of the contested obligation and enforcement of any Lien securing such obligation, and (iv) no Lien has been filed with respect thereto or (y) the failure to make payment pending such
contest would not reasonably be expected to result in a Material Adverse Effect. Nothing contained herein shall be deemed to limit the rights of the Agent with respect to determining Reserves pursuant to this Agreement. 

6.05    Preservation of Existence, Etc. 

(a)    Preserve, renew and maintain in full force and effect its legal existence and good standing under
the Laws of the jurisdiction of its organization or formation except in a transaction permitted by Section 7.04 or 7.05; (b) take all reasonable action to maintain all rights, privileges, permits, licenses and
franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its Intellectual Property,
except to the extent such Intellectual Property is no longer used or useful in the conduct of the business of the Loan Parties. 

6.06    Maintenance of Properties 

(a)    Maintain, preserve and protect all of its material properties and equipment necessary in the
operation of its business in good working order and condition, ordinary wear and tear excepted; and (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so would not reasonably be expected
to have a Material Adverse Effect. 
 6.07    Maintenance of Insurance. 

(a)    Maintain with financially sound and reputable insurance companies not Affiliates of the Loan
Parties, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business and operating in the same or similar locations or as is required by
applicable Law, of such types and in such amounts as are customarily carried under similar circumstances by such other Persons and as are reasonably acceptable to the Agent. 

(b)    Cause fire and extended coverage policies maintained with respect to any Collateral to be endorsed
or otherwise amended to include (i) a lenders’ loss payable clause regarding personal property, in form and substance reasonably satisfactory to the Agent, which endorsements or amendments shall provide that the insurer shall pay all
proceeds otherwise payable to the Loan Parties under the policies directly to the Agent, (ii) a provision to the effect that none of the Loan Parties, Credit Parties or any other Person shall be a
co-insurer and (iii) such other provisions as the Agent may reasonably require from time to time to protect the interests of the Credit Parties. 

  
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 (c)    Cause commercial general liability policies to be
endorsed to name the Agent as an additional insured. 
 (d)    Cause business interruption policies to
name the Agent as a lenders’ loss payee and to be endorsed or amended to include (i) a provision that, from and after the Closing Date, the insurer shall pay all proceeds otherwise payable to the Loan Parties under the policies directly to
the Agent, (ii) a provision to the effect that none of the Loan Parties, the Agent, the Agent or any other party shall be a co insurer and (iii) such other provisions as the Agent may reasonably require from time to time to protect the
interests of the Credit Parties. 
 (e)    Cause each such policy referred to in this
Section 6.07 to also provide that it shall not be canceled (i) by reason of nonpayment of premium except upon not less than ten (10) days’ prior written notice thereof by the insurer to the Agent or
(ii) for any other reason except upon not less than thirty (30) days’ prior written notice thereof by the insurer to the Agent. 

(f)    Deliver to the Agent, prior to the cancellation, modification or
non-renewal of any such policy of insurance, a copy of a renewal or replacement policy (or other evidence of renewal of a policy previously delivered to the Agent, including an insurance binder) together with
evidence reasonably satisfactory to the Agent of payment of the premium therefor. 
 (g)    Maintain for
themselves and their Subsidiaries, a Directors and Officers insurance policy, and a “Blanket Crime” policy including employee dishonesty, forgery or alteration, theft, disappearance and destruction, robbery and safe burglary, property, and
computer fraud coverage with responsible companies in such amounts as are customarily carried by business entities engaged in similar businesses similarly situated, and will upon request by the Agent furnish the Agent certificates evidencing renewal
of each such policy. 
 (h)    Permit any representatives that are designated by the Agent to inspect the
insurance policies maintained by or on behalf of the Loan Parties and to inspect books and records related thereto and any properties covered thereby. 

None of the Credit Parties, or their agents or employees shall be liable for any loss or damage insured by the insurance policies required to
be maintained under this Section 6.07. Each Loan Party shall look solely to its insurance companies or any other parties other than the Credit Parties for the recovery of such loss or damage and such insurance companies
shall have no rights of subrogation against any Credit Party or its agents or employees. If, however, the insurance policies do not provide waiver of subrogation rights against such parties, as required above, then the Loan Parties hereby agree, to
the extent permitted by law, to waive their right of recovery, if any, against the Credit Parties and their agents and employees. The designation of any form, type or amount of insurance coverage by any Credit Party under this
Section 6.07 shall in no event be deemed a representation, warranty or advice by such Credit Party that such insurance is adequate for the purposes of the business of the Loan Parties or the protection of their properties.

  
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 6.08    Compliance with Laws. Comply (a) in all material
respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which the failure to comply therewith would not reasonably be expected to have a
Material Adverse Effect, and (b) with Sections 10.17 and 10.18. 
 6.09    Books and Records;
Accountants 
 (a)    Maintain proper books of record and account, in which full, true and correct
entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Loan Parties or such Subsidiary, as the case may be; and (ii) maintain such books of record
and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over the Loan Parties or such Subsidiary, as the case may be. 

(b)    at all times retain a Registered Public Accounting Firm which is reasonably satisfactory to the
Agent and shall instruct such Registered Public Accounting Firm to cooperate with, and be available to, the Agent or its representatives to discuss the Loan Parties’ financial performance, financial condition, operating results, controls, and
such other matters, within the scope of the retention of such Registered Public Accounting Firm, as may be raised by the Agent. 

6.10    Inspection Rights 

(a)    Permit representatives and independent contractors of the Agent 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 Registered Public Accounting Firm, and permit
the Agent or professionals (including investment bankers, consultants, accountants, and lawyers) retained by the Agent to conduct evaluations of the Loan Parties’ business plan, forecasts and cash flows during normal business hours, upon
reasonable advance notice to the Borrower, all at the expense of the Loan Parties; provided, however, that, unless an Event of Default shall have occurred or be continuing, such visits and inspections shall be limited to one such visit
and inspection per calendar year conducted by the Agent (or any of its representatives or independent contractors) on behalf of the Lenders. 

(b)    Upon the request of the Agent after reasonable prior notice, permit the Agent or professionals
(including investment bankers, consultants, accountants, and lawyers) retained by the Agent to conduct commercial finance examinations and other evaluations, including, without limitation, of (i) the Borrower’s practices in the computation
of the Borrowing Base and (ii) the assets included in the Borrowing Base and related financial information such as, but not limited to, sales, gross margins, payables, accruals and reserves, provided, that, so long as no Default or Event
of Default exists, the Agent may, in its discretion, undertake (i) no more than one (1) such commercial finance 

  
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examination within ninety (90) days (which period may be extended by the Agent in its sole discretion) following the Closing Date, and (ii) thereafter, no more than one
(1) commercial finance examination in any consecutive twelve (12) month period following the Closing Date, in each case at the Loan Parties’ expense. Notwithstanding the foregoing, the Agent may cause additional commercial finance
examinations to be undertaken (i) as it in its discretion deems necessary or appropriate, at its own expense or, (ii) if required by Law or if a Default or Event of Default shall have occurred and be continuing, at the expense of the Loan
Parties and without advance notice. For the avoidance of doubt,
during the Deferred Diligence Period, no commercial finance examinations shall be conducted at the Loan
Parties’ expense. 
 (c)    Upon the
request of the Agent after reasonable prior notice, permit the Agent or professionals (including appraisers) retained by the Agent to conduct appraisals of the Collateral, including, without limitation, the assets included in the Borrowing Base,
provided that, so long as no Default or Event of Default exists, the Agent may, in its discretion, undertake (i) no more than one (1) inventory appraisal within ninety (90) days (which period may be extended by the Agent in its sole
discretion) following the Closing Date at the Loan Parties’ expense, and (ii) thereafter, no more than one (1) inventory appraisal in any consecutive twelve (12) month period following the Closing Date at the Loan Parties’
expense and no more than two (2) inventory appraisals in any consecutive twelve (12) month period following the Closing Date at the Loan Parties’ expense when Availability is less than 20% of the Loan Cap, provided that such appraisals shall not be
conducted at the Loan Parties’ expense
 during the Deferred Diligence Period. Notwithstanding the foregoing, the Agent may cause additional appraisals to be undertaken (i) as it in its discretion deems necessary or appropriate, at
its own expense or, (ii) if required by Law or if a Default or Event of Default shall have occurred and be continuing, at the expense of the Loan Parties and without advance notice. During the Deferred Diligence Period, the Agent may conduct one (1) inventory
 appraisal in any consecutive twelve (12) month period at the expense of the Lenders. 

6.11    Use of Proceeds. Use the proceeds of the Credit Extensions (a) to finance the acquisition of working
capital assets of the Borrower, including the purchase of inventory and equipment, in each case in the ordinary course of business, (b) to finance Capital Expenditures of the Borrower, (c) for general corporate purposes of the Loan
Parties, (d) to pay fees and expenses in connection with the transactions contemplated by this Agreement, and (e) for other lawful corporate purposes, in each case to the extent expressly permitted under applicable Law and the Loan
Documents. 
 6.12    Additional Loan Parties. Notify the Agent at the time that any Person becomes a Subsidiary
and, promptly thereafter (and in any event within thirty (30) days), cause any such Person (a) which is not an Excluded Subsidiary, to (i) become a Loan Party by executing and delivering to the Agent a Joinder to this Agreement or a
Joinder to the Facility Guaranty or such other documents as the Agent shall deem appropriate for such purpose, (ii) grant a Lien to the Agent on such Person’s assets of the same type that constitute Collateral to secure the Obligations,
and (iii) deliver to the Agent documents of the types referred to in clauses (iii) and (iv) of Section 4.01(a) and favorable opinions of counsel to such Person (which shall cover, among other things,
the legality, validity, binding effect and enforceability of the documentation referred to in this 

  
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clause (a)), and (b) if any Equity Interests or Indebtedness of such Person are owned by or on behalf of any Loan Party, to pledge such Equity Interests and promissory notes
evidencing such Indebtedness (except that, if such Subsidiary is a CFC that is not joined as a Loan Party, the Equity Interests of such Subsidiary to be pledged may be limited to 65% of the outstanding voting Equity Interests of such Subsidiary and
100% of the non-voting Equity Interests of such Subsidiary and such time period may be extended based on local law or practice), in each case in form, content and scope reasonably satisfactory to the Agent. In
no event shall compliance with this Section 6.12 waive or be deemed a waiver or Consent to any transaction giving rise to the need to comply with this Section 6.12 if such transaction was not
otherwise expressly permitted by this Agreement or constitute or be deemed to constitute, with respect to any Subsidiary, an approval of such Person as a Borrower or permit the inclusion of any acquired assets in the computation of the Borrowing
Base. 
 6.13    Cash Management. 

(a)    (i) On or prior to the Closing Date, deliver to the Agent copies of notifications (each, a
“Credit Card Notification”) substantially in the form attached hereto as Exhibit G which have been executed on behalf of such Loan Party and delivered to such Loan Party’s Credit Card Issuers and Credit Card Processors
listed on Schedule 5.21(b) to the Disclosure Letter, and (ii) unless previously delivered on or prior to the Closing Date, by the date set forth in Section 6.21, use commercially reasonable efforts to enter into a Blocked Account
Agreement reasonably satisfactory in form and substance to the Agent with each Blocked Account Bank (collectively, the “Blocked Accounts”). 

(b)    [Reserved]. 

(c)    The Loan Parties shall ACH or wire transfer no less frequently than (x) twice per week during
the calendar months of November and December and (y) weekly during all other calendar months (and whether or not there are then any outstanding Obligations) to a Blocked Account all amounts on deposit in each DDA (net of any minimum balance,
not to exceed $2,500.00, as may be required to be kept in the subject DDA by the depository institution at which such DDA is maintained) and all payments due from all Credit Card Issuers and Credit Card Processors. 

(d)    Each Blocked Account Agreement shall require, upon notice from Agent which notice shall be
delivered only after the occurrence and during the continuance of a Cash Dominion Event, the ACH or wire transfer no less frequently than daily (and whether or not there are then any outstanding Obligations) (net of any minimum balance, not to
exceed $2,500.00, as may be required to be kept in the subject DDA by the depository institution at which such DDA is maintained) to the concentration account maintained by the Agent at Wells Fargo (the “Concentration Account”), of
all cash receipts and collections received by each Loan Party from all sources, including, without limitation, the following: 

(i)    all available cash receipts from the sale of Inventory and other assets (whether or not constituting
Collateral); 

  
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 (ii)    all proceeds of collections of Accounts; 

(iii)    all cash payments received by a Loan Party from any Person or from any source or on account of any
Disposition or other transaction or event; 
 (iv)    the then contents of each DDA (net of any minimum
balance, not to exceed $2,500.00, as may be required to be kept in the subject DDA by the depository institution at which such DDA is maintained); 

(v)    the then entire ledger balance of each Blocked Account (net of any minimum balance, not to exceed
$2,500.00, as may be required to be kept in the subject Blocked Account by the Blocked Account Bank); and 

(vi)    the proceeds of all credit card charges. 

(e)    The Concentration Account shall at all times be under the sole dominion and control of the Agent.
The Loan Parties hereby acknowledge and agree that (i) the Loan Parties have no right of withdrawal from the Concentration Account, (ii) the funds on deposit in the Concentration Account shall at all times be collateral security for all of
the Obligations and (iii) the funds on deposit in the Concentration Account shall be applied to the Obligations as provided in this Agreement. In the event that, notwithstanding the provisions of this Section 6.13, any
Loan Party receives or otherwise has dominion and control of any such cash receipts or collections, such receipts and collections shall be held in trust by such Loan Party for the Agent, shall not be commingled with any of such Loan Party’s
other funds or deposited in any account of such Loan Party and shall, not later than the Business Day after receipt thereof, be deposited into the Concentration Account or dealt with in such other fashion as such Loan Party may be instructed by the
Agent. 
 (f)    Upon the request of the Agent, the Loan Parties shall cause bank statements and/or other
reports to be delivered to the Agent not less often than monthly, accurately setting forth all amounts deposited in each Blocked Account to ensure the proper transfer of funds as set forth above. 

6.14    Information Regarding the Collateral. 

Furnish to the Agent at least thirty (30) days prior written notice of any change in: (i) any Loan Party’s name or in any trade
name used to identify it in the conduct of its business or in the ownership of its properties; (ii) the location of any Loan Party’s chief executive office, its principal place of business, any office in which it maintains books or records
(to the extent such books and records are not duplicates) relating to Collateral owned by it or any office or facility at which Collateral owned by it is located (including the establishment of any such new office or facility); (iii) any Loan
Party’s organizational structure or jurisdiction of incorporation or formation; or (iv) any Loan Party’s Federal Taxpayer Identification Number or organizational identification number assigned to it by its state of organization. The
Loan Parties agree not to effect or permit any change referred to in the preceding sentence unless all filings have been made under the UCC or otherwise that are required in order for the Agent to continue at all times following such change to have
a valid, legal and perfected first priority security interest (subject to Permitted Encumbrances that have priority by operation of Law) in all the Collateral for its own benefit and the benefit of the other Credit Parties. 

  
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 6.15    Physical Inventories. 

(a)    Cause not less than one (1) physical inventory to be undertaken, at the expense of the Loan
Parties, in each twelve (12) month period, consistent with past practices, conducted by such inventory takers as are reasonably satisfactory to the Agent and following such methodology as is consistent with the methodology used in the
immediately preceding inventory or as otherwise may be reasonably satisfactory to the Agent (it being agreed that use of cycle counts shall be permitted). The Agent, at the expense of the Loan Parties, may participate in and/or observe each
scheduled physical count of Inventory which is undertaken on behalf of any Loan Party, it being understood that the Agent shall provide at least thirty (30) days’ prior notice to such Loan Party if Agent wishes to so participate or
observe. The Borrower, within ninety (90) days following the completion of such inventory, shall provide the Agent with a reconciliation of the results of such inventory (as well as of any other physical inventory or cycle counts undertaken by
a Loan Party) and shall post such results to the Loan Parties’ stock ledgers and general ledgers, as applicable. 

(b)    Permit the Agent, in its discretion, if any Event of Default exists, to cause additional such
inventories to be taken as the Agent determines (each, at the expense of the Loan Parties). 

6.16    Environmental Laws. 

(a)    Conduct its operations and keep and maintain its Real Estate in material compliance with all
Environmental Laws; (b) obtain and renew all environmental permits necessary for its operations and properties; and (c) implement any and all investigation, remediation, removal and response actions that are required to comply in all
material respects with Environmental Laws pertaining to the presence, generation, treatment, storage, use, disposal, transportation or release of any Hazardous Materials on, at, in, under, above, to, from or about any of its Real Estate,
provided, however, that neither a Loan Party nor any of its Subsidiaries shall be required to undertake any such cleanup, removal, remedial or other action to the extent that its obligation to do so is being contested in good faith and
by proper proceedings and adequate reserves have been set aside and are being maintained by the Loan Parties with respect to such circumstances in accordance with GAAP. 

6.17    Further Assurances. 

(a)    Execute any and all further documents, financing statements, agreements and instruments, and take
all such further actions (including the filing and recording of financing statements and other documents), that may be required under any applicable Law, or which the Agent may reasonably request, to effectuate the transactions contemplated by the
Loan Documents or to grant, preserve, protect or perfect the Liens created or intended to be created by the Security Documents or the validity or priority of 

  
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any such Lien, all at the expense of the Loan Parties. The Loan Parties also agree to provide to the Agent, from time to time upon request, evidence satisfactory to the Agent as to the perfection
and priority of the Liens created or intended to be created by the Security Documents. 
 (b)    If any
material assets are acquired by any Loan Party after the Closing Date (other than assets constituting Collateral under the Security Documents that become subject to the perfected first-priority Lien under the Security Documents upon acquisition
thereof), notify the Agent thereof, and the Loan Parties will cause such assets to be subjected to a Lien securing the Obligations and will take such actions as shall be necessary or shall be reasonably requested by the Agent to grant and perfect
such Liens, including actions described in paragraph (a) of this Section 6.17, all at the expense of the Loan Parties. In no event shall compliance with this Section 6.17(b) waive or be
deemed a waiver or Consent to any transaction giving rise to the need to comply with this Section 6.17(b) if such transaction was not otherwise expressly permitted by this Agreement or constitute or be deemed to constitute
Consent to the inclusion of any acquired assets in the computation of the Borrowing Base. 

6.18    Compliance with Terms of Leaseholds. 

Except as would not reasonably be expected to have a Material Adverse Effect, (a) make all payments and otherwise perform all obligations
in respect of all Leases to which any Loan Party or any of its Subsidiaries is a party, keep such Leases in full force and effect, (b) not allow such Leases to lapse or be terminated or any rights to renew such Leases to be forfeited or
cancelled, (c) notify the Agent of any default by any party with respect to such Leases and cooperate with the Agent in all respects to cure any such default, and (d) cause each of its Subsidiaries to do the foregoing. 

6.19    Material Contracts. (a) Perform and observe in all material respects the terms and provisions of each
Material Contract to be performed or observed by it, (b) maintain each such Material Contract in full force and effect unless the Borrower determines in its prudent business judgment that such maintenance is no longer desirable, (c) take
commercially reasonable efforts, in its prudent business judgment, to enforce each such Material Contract in accordance with its terms, (d) upon reasonable request of the Agent, during the existence of an Event of Default, make to each other
party to each such Material Contract such demands and requests for information and reports or for action as any Loan Party or any of its Subsidiaries is entitled to make under such Material Contract, and (e) cause each of its Subsidiaries to do
the foregoing. 
 6.20    OFAC; Sanctions. 

Each Loan Party will, and will cause each of its Subsidiaries to comply in all material respects with all applicable Sanctions, Anti-Corruption
Laws and Anti-Money Laundering Laws. Each of the Loan Parties and its Subsidiaries shall implement and maintain in effect policies and procedures designed to ensure compliance by the Loan Parties and their Subsidiaries and their respective
directors, officers, employees, agents and Affiliates with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. Each of the Loan Parties shall and shall cause their respective Subsidiaries to comply with all Sanctions, Anti-Corruption
Laws and Anti-Money Laundering Laws. 

  
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 6.21    Post-Closing Matters. Each Loan Party will take
the following actions within the time periods set forth below (or such longer period as the Agent may agree in its sole discretion): 

(a)    on or before the date that is 120 days following the Closing Date, deliver to the Agent the Blocked
Account Agreements required under Section 6.13(a); 
 (b)    on or before the
date that is 60 days following the Closing Date, deliver to the Agent all certificates, agreements or instruments required to be delivered under Section 3.1 of the Security Agreement and the original Intercompany Note and allonge thereto; 

(c)    on or before the date that is 30 days following the Closing Date, deliver to the Agent all
endorsements and insurance certificates required to be obtained by the Loan Parties pursuant to Section 6.07; and 

(d)    on or before the date that is 120 days following the Closing Date, deliver to the Agent all
Securities Account Control Agreements (as defined in the Security Agreement) required to be delivered under Section 3.4(b) of the Security Agreement. 

ARTICLE VII 
 NEGATIVE
COVENANTS 
 So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or
unsatisfied, or any Letter of Credit shall remain outstanding (other than contingent indemnification obligations for which a claim has not been asserted), no Loan Party shall, nor shall it permit any Subsidiary to, directly or indirectly: 

7.01    Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues,
whether now owned or hereafter acquired or sign or file or suffer to exist under the UCC or any similar Law or statute of any jurisdiction a financing statement that names any Loan Party or any Subsidiary thereof as debtor; sign or suffer to exist
any security agreement authorizing any Person thereunder to file such financing statement; sell any of its property or assets subject to an understanding or agreement (contingent or otherwise) to repurchase such property or assets with recourse to
it or any of its Subsidiaries; or assign or otherwise transfer any accounts or other rights to receive income, other than, as to all of the above, Permitted Encumbrances. 

7.02    Investments. Make any Investments, except Permitted Investments. 

7.03    Indebtedness; Disqualified Stock. 

(a)    Create, incur, assume, guarantee, suffer to exist or otherwise become or remain liable with respect
to, any Indebtedness, except Permitted Indebtedness or (b) issue Disqualified Stock. 
 7.04    Fundamental
Changes. Merge, divide, dissolve, liquidate, consolidate with or into another Person, (or agree to do any of the foregoing), except that, so long as no Default or 

  
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Event of Default shall have occurred and be continuing prior to or immediately after giving effect to any action described below or would result therefrom: 

(a)    any Subsidiary which is not a Loan Party may merge with (i) a Loan Party, provided that the
Loan Party shall be the continuing or surviving Person or the surviving Person shall join as a Loan Party in accordance with Section 6.12, or (ii) any one or more other Subsidiaries which are not Loan Parties, provided that when any
wholly-owned Subsidiary is merging with another Subsidiary that is not wholly-owned, the wholly-owned Subsidiary shall be the continuing or surviving Person; 

(b)    any Subsidiary which is a Loan Party may merge into any Subsidiary which is a Loan Party or into the
Borrower, provided that in any merger involving the Borrower, the Borrower shall be the continuing or surviving Person; 

(c)    in connection with a Permitted Acquisition, any Subsidiary of a Loan Party may merge with or into or
consolidate with any other Person or permit any other Person to merge with or into or consolidate with it; provided that the Person surviving such merger shall be a wholly-owned Subsidiary of a Loan Party and such Person shall become a Loan
Party in accordance with the provisions of Section 6.12 hereof; 
 (d)    any
CFC that is not a Loan Party may merge into any CFC that is not a Loan Party; and 
 (e)    any
Subsidiary (other than Borrower) may liquidate or dissolve if the Borrower determines in good faith that such liquidation is in the best interests of the Borrower and would not have a Material Adverse Effect; provided that, prior to such liquidation
or dissolution, such Subsidiary shall transfer all of its assets of the type included in the Borrowing Base to a Loan Party. 

7.05    Dispositions. Make any Disposition, except Permitted Dispositions. 

7.06    Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, or incur any
obligation (contingent or otherwise) to do so, except that, so long as no Default or Event of Default shall have occurred and be continuing prior to or immediately after giving effect to any action described below or would result therefrom: 

(a)    The Loan Parties and each Subsidiary may make Restricted Payments to any other Loan Party or
Subsidiary; 
 (b)    the Loan Parties and each Subsidiary may declare and make dividend payments or
other distributions payable solely in the common stock or other common Equity Interests of such Person; 

(c)    if either the Payment Conditions or Investment and RP Conditions are satisfied, the Loan Parties and
each Subsidiary may purchase, redeem or otherwise acquire Equity Interests issued by it; 

  
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 (d)    if either the Payment Conditions or Investment
and RP Conditions are satisfied, the Borrower may declare or pay cash dividends to its stockholders; and 

(e)    any non-wholly owned Subsidiaries of Borrower that are not
Loan Parties may declare and make dividend payments or other distributions to their respective stockholders;
and 
 (f)    the Loan Parties and each Subsidiary may make Restricted Payments that are not made using Borrowings under this Agreement, so
long as after giving effect to such Restricted Payments, the Outstanding Amount of Loans hereunder is $0. 

7.07    Prepayments of Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled
maturity thereof in any manner any Indebtedness, or make any payment in violation of any subordination terms of any Subordinated Indebtedness, except (a) as long as no Default or Event of Default then exists, regularly scheduled or mandatory
repayments, repurchases, redemptions or defeasances of (i) Permitted Indebtedness (other than Subordinated Indebtedness), and (ii) Subordinated Indebtedness in accordance with the subordination terms thereof or the applicable subordination
agreement relating thereto, (b) voluntary prepayments, repurchases, redemptions or defeasances of (i) Permitted Indebtedness (but excluding on account of any Subordinated Indebtedness) as long as the either
Payment Conditions or Investment and RP Conditions are satisfied, and (ii) Subordinated Indebtedness in accordance with the subordination terms thereof or the applicable subordination agreement relating thereto, and as long as the 
either the Payment Conditions or Investment and RP
Conditions are satisfied, (c) Permitted Refinancings of any such Indebtedness, or (d) as long as no Default or Event of Default or Cash Dominion Event then exists and is continuing, such prepayments, redemptions, repurchases or
defeasements of Indebtedness made substantially simultaneously with proceeds of Equity Interests issued by Borrower. 

7.08    Change in Nature of Business. Engage in any line of business substantially different from the business
conducted by the Loan Parties and their Subsidiaries on the Closing Date or any business related, incidental or ancillary thereto. 

7.09    Transactions with Affiliates. Enter into, renew, extend or be a party to any transaction of any kind with
any Affiliate of any Loan Party, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Loan Parties or such Subsidiary as would be obtainable by the Loan Parties or such
Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate, provided that the foregoing restriction shall not apply to (a) a transaction between or among the Loan Parties, (b) transactions
described on Schedule 7.09 to the Disclosure Letter, (c) advances for commissions, travel and other similar purposes in the ordinary course of business to directors, officers and employees, (d) the issuance of Equity Interests in the
Borrower to any officer, director, employee or consultant of the Borrower or any of its Subsidiaries, (e) the payment of reasonable fees and out-of-pocket costs to
directors, and compensation and employee benefit arrangements paid to, and indemnities provided for the benefit of, directors, officers or employees of the Borrower or any of its Subsidiaries, and (f) any issuances of securities of the Borrower
(other than Disqualified Stock and other Equity Interests not permitted hereunder) or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment agreements, stock options and stock ownership plans
(in each case in respect of Equity Interests in the Borrower) of the Borrower or any of its Subsidiaries. 

  
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 7.10    Burdensome Agreements. Enter into or permit to exist any
Contractual Obligation (other than this Agreement or any other Loan Document) that (a) limits the ability (i) of any Subsidiary to make Restricted Payments or other distributions to any Loan Party or to otherwise transfer property to or
invest in a Loan Party, (ii) of any Subsidiary to Guarantee the Obligations, (iii) of any Subsidiary to make or repay loans to a Loan Party, or (iv) of the Loan Parties or any Subsidiary to create, incur, assume or suffer to exist
Liens on property of such Person in favor of the Agent; provided, however, that this clause (iv) shall not prohibit any negative pledge incurred or provided in favor of any holder of Indebtedness permitted under clauses
(c) of the definition of Permitted Indebtedness solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness; or (b) requires the grant of a Lien to secure an obligation of such
Person if a Lien is granted to secure another obligation of such Person. 
 7.11    Use of Proceeds. Use the
proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, (a) to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the
purpose of purchasing or carrying margin stock or to refund Indebtedness originally incurred for such purpose; (b) to make any payments to a Sanctioned Entity or a Sanctioned Person, to finance any investments in a Sanctioned Entity or a
Sanctioned Person, to fund any operations of a Sanctioned Entity or a Sanctioned Person, or in any other manner that would result in a violation of Sanctions by any Person; or (c) for purposes other than those permitted under this Agreement.

 7.12    Amendment of Material Documents. 

Amend, modify or waive any of a Loan Party’s rights under (a) its Organization Documents in a manner materially adverse to the Credit
Parties, or (b) any Material Contract or Material Indebtedness (other than on account of any refinancing thereof otherwise permitted hereunder), in each case to the extent that such amendment, modification or waiver would result in a Default or
Event of Default under any of the Loan Documents, would be materially adverse to the Credit Parties or otherwise would be reasonably likely to have a Material Adverse Effect. 

7.13    Fiscal Year. 

Change the Fiscal Year of any Loan Party, or the accounting policies or reporting practices of the Loan Parties, except as required by GAAP.

 7.14    Deposit Accounts; Credit Card Processors. 

Open new DDAs or Blocked Accounts unless the Loan Parties shall have delivered to the Agent appropriate Blocked Account Agreements consistent
with the provisions of Section 6.13 and otherwise reasonably satisfactory to the Agent. No Loan Party shall maintain any bank accounts or enter into any agreements with Credit Card Issuers or Credit Card Processors other
than the ones expressly contemplated herein or in Section 6.13 hereof. 
 7.15    Financial
Covenant. Permit Availability to be (x) at any time prior
tofrom the StepdownDeferred Diligence
Period Start Date through and including the Diligence Delivery Date, less than 1512.5% of the Loan Cap, and (y) at any time after the Stepdown
Dateall other times, less than 10% of the Loan
Cap. 

  
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 7.16    Sale and Leaseback Transactions. Borrower and its
Subsidiaries shall not enter into any arrangement, directly or indirectly, with any person whereby it shall sell or transfer any property used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such
property or other property which it intends to use for substantially the same purpose or purposes as the property being sold or transferred (a “Sale and Leaseback Transaction”) unless (a) the sale of such property is entered into in
the ordinary course of business and is made for cash consideration in an amount not less than the fair market value of such property, (b) the Sale and Leaseback Transaction is permitted by Section 7.05 and is consummated within sixty
(60) days after the date on which such property is sold or transferred, (c) any Liens arising in connection with its use of the property are permitted by clause (q) of the definition of Permitted Encumbrances, (d) the Sale and
Leaseback Transaction would be permitted under Section 7.03, assuming the Attributable Indebtedness with respect to the Sale and Leaseback Transaction constituted Indebtedness under Section 7.03 and (e) the Attributable Indebtedness
incurred with respect to such Sale and Leaseback Transactions shall not exceed (i) for any property other than one of the Borrower’s distribution centers,
$25,000,000100,000,000
 for such Sale and Leaseback Transactions in the aggregate in any period of twelve (12) consecutive months and (ii) for one of the Borrower’s distribution centers, $200,000,000250,000,000
. 
 ARTICLE VIII 

EVENTS OF DEFAULT AND REMEDIES 

8.01    Events of Default. Any of the following shall constitute an Event of Default: 

(a)    Non-Payment. The Borrower or any other Loan Party
fails to pay when and as required to be paid herein, (i) any amount of principal of any Loan or any L/C Obligation, or deposit any funds as Cash Collateral in respect of L/C Obligations, or (ii) any interest on any Loan or on any L/C
Obligation, or any fee due hereunder, or (iii) any other amount payable hereunder or under any other Loan Document; or 

(b)    Specific Covenants. (i) Any Loan Party fails to perform or observe any term, covenant or
agreement contained in any of Section 6.01, 6.02, 6.03, 6.05 (solely with respect to the existence of the Borrower), 6.07, 6.10, 6.11, 6.12, 6.13, 6.14,
6.21 or Article VII; or 
 (c)    Other Defaults. Any Loan Party fails to perform or
observe any other covenant or agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days; or 

(d)    Representations and Warranties. Any representation, warranty, certification or statement of
fact made or deemed made by or on behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith (including, without limitation, any Borrowing Base Certificate), or
in completing any request for a Borrowing via the Portal, shall be incorrect or misleading in any material respect when made or deemed made; or 

  
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 (e)    Cross-Default. (i) Any Loan Party or
any Subsidiary thereof (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Material Indebtedness (including undrawn committed or available amounts and
including amounts owing to all creditors under any combined or syndicated credit arrangement), or (B) fails to observe or perform any other agreement or condition relating to any such Material Indebtedness or contained in any instrument or
agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Material Indebtedness or the beneficiary or beneficiaries of any
Guarantee thereof (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 be demanded or to become due or to be repurchased, prepaid, defeased
or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or
(ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is the Defaulting
Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination
Value owed by the Loan Party or such Subsidiary as a result thereof is greater than $25,000,000; or 

(f)    Insolvency Proceedings, Etc. Any Loan Party or any of its Subsidiaries institutes, consents
to the institution of or declares its intention to institute 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 or similar officer for it or for all or any material part of its property; or a proceeding shall be commenced or a petition filed, without the application or consent of such Person, seeking or requesting the
appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed and the appointment continues undischarged, undismissed or unstayed for 30 calendar days or an order or decree approving or
ordering any of the foregoing shall be entered; 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 60 calendar days, or an order for relief is entered in any such proceeding; or 

(g)    Inability to Pay Debts; Attachment. (i) Any Loan Party or any Subsidiary thereof becomes
unable or admits in writing its inability or fails generally to pay its debts as they become due in the ordinary course of business, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or
any material part of the property of any such Person and is not released, vacated or fully bonded within 10 days after its issuance or levy; or 

  
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 (h)    Judgments. There is entered against any
Loan Party or any Subsidiary thereof (i) one or more judgments or orders for the payment of money in an aggregate amount (as to all such judgments and orders) exceeding $25,000,000 (to the extent not covered by independent third-party insurance
as to which the insurer is rated at least “A” by A.M. Best Company, has been notified of the potential claim and does not dispute coverage), or (ii) any one or more non-monetary judgments that
have, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period
of 30 consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, is not in effect; or 

(i)    ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan
which has resulted or would reasonably be expected to result in liability of any Loan Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $25,000,000 or which would reasonably likely
result in a Material Adverse Effect, or (ii) a Loan Party or any ERISA Affiliate 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 in an aggregate amount in excess of $25,000,000 or which would reasonably likely result in a Material Adverse Effect; or 

(j)    Invalidity of Loan Documents. (i) Any provision of any Loan Document, at any time after
its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Loan Party, any Subsidiary thereof or any
Governmental Authority contests in any manner the validity or enforceability of any provision of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any provision of any Loan Document, or purports to
revoke, terminate or rescind any provision of any Loan Document or seeks to avoid, limit or otherwise adversely affect any Lien purported to be created under any Security Document; or (ii) any Lien purported to be created under any Security
Document shall cease to be, or shall be asserted by any Loan Party, any Subsidiary thereof or any Governmental Authority not to be, a valid and perfected Lien on any Collateral, with the priority required by the applicable Security Document; or 

(k)    Change of Control. There occurs any Change of Control; or 

(l)    Cessation of Business. Except as otherwise expressly permitted hereunder, any Loan Party
shall take any action, or shall make a determination, whether or not yet formally approved by any Loan Party’s management or board of directors, to (i) suspend the operation of all or a material portion of its business in the ordinary
course, (ii) suspend the payment of any material obligations in the ordinary course or suspend the performance under material contracts in the ordinary course, (iii) solicit proposals for the liquidation of, or undertake to liquidate, all
or a material portion of its assets or Store locations, or (iv) solicit proposals for the employment of, or employ, an agent or other third party to conduct a program of closings, liquidations, or “Going-Out-Of-Business” sales of any material portion of its business; or 

  
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 (m)    Loss of Collateral. There occurs any
uninsured loss to any material portion of the Collateral; or 
 (n)    Breach of Contractual
Obligation. Any Loan Party or any Subsidiary thereof fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Material Contract or fails to observe or perform
any other agreement or condition relating to any such Material Contract or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to
permit the counterparty to such Material Contract to terminate such Material Contract; or 

(o)    Indictment. The indictment or institution of any legal process or proceeding against, any
Loan Party or any Subsidiary thereof, under any federal, state, municipal, and other criminal statute, rule, regulation, order, or other requirement having the force of law for a felony; or 

(p)    Guaranty. The termination or attempted termination of any Facility Guaranty except as
expressly permitted hereunder or under any other Loan Document; or 
 (q)    Subordination.
(i) The subordination provisions of the documents evidencing or governing any Subordinated Indebtedness (any such provisions being referred to as the “Subordination Provisions”) shall, in whole or in part, terminate, cease to be
effective or cease to be legally valid, binding and enforceable against any holder of the applicable Indebtedness; or (ii) the Borrower or any other Loan Party shall, directly or indirectly, disavow or contest in any manner (A) the
effectiveness, validity or enforceability of any of the Subordination Provisions, (B) that the Subordination Provisions exist for the benefit of the Credit Parties, or (C) that all payments of principal of or premium and interest on the
applicable Subordinated Indebtedness, or realized from the liquidation of any property of any Loan Party, shall be subject to any of the Subordination Provisions. 

8.02    Remedies Upon Event of Default. If any Event of Default occurs and is continuing, the Agent may, or, at the
request of the Required Lenders shall, take any or all of the following actions: 
 (a)    declare the
Commitments of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such Commitments and obligation shall be terminated; 

(b)    declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid
thereon, and all other Obligations (other than Obligations under any Swap Contract) 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 Loan Parties;

  
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 (c)    require that the Loan Parties Cash Collateralize
the L/C Obligations; and 
 (d)    whether or not the maturity of the Obligations shall have been
accelerated pursuant hereto, proceed to protect, enforce and exercise all rights and remedies of the Credit Parties under this Agreement, any of the other Loan Documents or applicable Law, including, but not limited to, by suit in equity, action at
law or other appropriate proceeding, whether for the specific performance of any covenant or agreement contained in this Agreement and the other Loan Documents or any instrument pursuant to which the Obligations are evidenced, and, if such amount
shall have become due, by declaration or otherwise, proceed to enforce the payment thereof or any other legal or equitable right of the Credit Parties; 

provided, however, that upon the occurrence of any Event of Default with respect to any Loan Party or any Subsidiary thereof under
Section 8.01(f), the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all
interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Loan Parties to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act
of the Agent or any Lender. 
 No remedy herein is intended to be exclusive of any other remedy and each and every remedy shall be
cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute or any other provision of Law. 

Each of the Lenders agrees that it shall not, unless specifically requested to do so in writing by Agent, take or cause to be taken any
action, including, the commencement of any legal or equitable proceedings to enforce any Loan Document against any Loan Party or to foreclose any Lien on, or otherwise enforce any security interest in, or other rights to, any of the Collateral. 

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 and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received
on account of the Obligations shall be applied by the Agent in the following order: 
 First, to payment of that
portion of the Obligations (excluding the Other Liabilities) constituting fees, indemnities, Credit Party Expenses and other amounts (including fees, charges and disbursements of counsel to the Agent and amounts payable under Article III)
payable to the Agent; 
 Second, to payment of that portion of the Obligations (excluding the Other Liabilities)
constituting indemnities, Credit Party Expenses, and other amounts (other than principal, interest and fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer
and amounts payable under Article III), ratably among them in proportion to the amounts described in this clause Second payable to them; 

  
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 Third, to the extent not previously reimbursed by the Lenders, to
payment to the Agent of that portion of the Obligations constituting principal and accrued and unpaid interest on any Permitted Overadvances; 

Fourth, to the extent that Swing Line Loans have not been refinanced by a Committed Loan, payment to the Swing Line
Lender of that portion of the Obligations constituting accrued and unpaid interest on the Swing Line Loans; 
 Fifth,
to payment of that portion of the Obligations constituting accrued and unpaid interest on the Committed Loans and other Obligations, and fees (including Letter of Credit Fees), ratably among the Lenders and the L/C Issuer in proportion to the
respective amounts described in this clause Fifth payable to them; 
 Sixth, to the extent that Swing Line
Loans have not been refinanced by a Committed Loan, to payment to the Swing Line Lender of that portion of the Obligations constituting unpaid principal of the Swing Line Loans; 

Seventh, to payment of that portion of the Obligations constituting unpaid principal of the Committed Loans, ratably
among the Lenders in proportion to the respective amounts described in this clause Seventh held by them; 

Eighth, to the Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised
of the aggregate undrawn amount of Letters of Credit; 
 Ninth, to payment of all other Obligations (including without
limitation the cash collateralization of unliquidated indemnification obligations, but excluding any Other Liabilities), ratably among the Credit Parties in proportion to the respective amounts described in this clause Ninth held by them;

 Tenth, to payment of that portion of the Obligations arising from Secured Cash Management Services for which a Cash
Management Reserve has been implemented and is in effect, ratably among the Credit Parties in proportion to the respective amounts described in this clause Tenth held by them; 

Eleventh, to payment of all other Obligations arising from Secured Bank Products for which a Bank Product Reserve has
been implemented and is in effect, ratably among the Credit Parties in proportion to the respective amounts described in this clause Eleventh held by them; 

Twelfth, to payment of all other Obligations arising from Cash Management Services not paid pursuant to clause
Tenth above; 
 Thirteenth, to payment of all other Obligations arising from Secured Bank Products not paid
pursuant to clause Eleventh above; and 
 Last, the balance, if any, after all of the Obligations have been
indefeasibly paid in full, to the Loan Parties or as otherwise required by Law. 

  
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 Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate
undrawn amount of Letters of Credit pursuant to clause Eighth above shall 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 shall be applied to the other Obligations, if any, in the order set forth above. 

ARTICLE IX 
 THE AGENT

 9.01    Appointment and Authority. Each of the Lenders (including in its capacities as a potential
provider of Cash Management Services and/or Bank Products) and the Swing Line Lender hereby irrevocably appoints Wells Fargo to act on its behalf as the Agent hereunder and under the other Loan Documents (other than the Swap Contracts) and
authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof (including, without limitation, 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 actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Agent, the Lenders and the L/C Issuer, and no
Loan Party or any Subsidiary thereof shall have rights as a third party beneficiary of any of such provisions. 

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

9.03    Exculpatory Provisions. The Agent shall not have any duties or obligations except those expressly set forth
herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Agent: 

(a)    shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or an
Event of Default has occurred and is continuing; 
 (b)    shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Agent is required to exercise as directed in writing by the Required Lenders (or
such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose
the Agent to liability or that is contrary to any Loan Document or applicable law; and 
 (c)    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 Loan Parties or any of its Affiliates that is communicated to
or obtained by the Person serving as the Agent or any of its Affiliates in any capacity. 

  
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 The Agent shall not be liable for any action taken or not taken by it (i) with the
Consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the 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 a final and non-appealable judgment of a court of competent jurisdiction. 

The Agent shall not be deemed to have knowledge of any Default or Event of Default unless and until notice describing such Default or Event of
Default is given to the Agent by the Loan Parties, a Lender or the L/C Issuer. Upon the occurrence of a Default or Event of Default, the Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by
the Required Lenders. Unless and until the Agent shall have received such direction, the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to any such Default or Event of Default as it shall
deem advisable in the best interest of the Credit Parties. In no event shall the Agent be required to comply with any such directions to the extent that the Agent believes that its compliance with such directions would be unlawful. 

The Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made
in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of 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 Security 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 Agent. 

9.04    Reliance by Agent. 

The Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including, but not limited to, any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise
authenticated by the proper Person. The Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining
compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Agent may presume that such condition is satisfactory
to such Lender or the L/C Issuer unless the Agent shall have received written notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Agent may consult with legal
counsel (who may be counsel for any Loan Party), 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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 9.05    Delegation of Duties. The Agent may perform any and all
of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub agents appointed by the Agent. The Agent and any such sub agent may perform any and all of its duties and exercise its
rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub agent and to the Related Parties of the 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 the Agent. 

9.06    Resignation of Agent. The Agent may at any time give written notice of its resignation to the Lenders and
the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any
such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, then the
retiring Agent may on behalf of the Lenders and the L/C Issuer, appoint a successor Agent meeting the qualifications set forth above; provided that if the Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such
appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the
case of any Collateral held by the Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring Agent shall continue to hold such collateral security until such time as a successor Agent is appointed) and
(2) all payments, communications and determinations provided to be made by, to or through the Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time as the Required Lenders appoint a successor Agent
as provided for above in this Section. Upon the acceptance of a successor’s appointment as Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired)
Agent, and the retiring 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). The fees payable by the Borrower to a
successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Agent’s resignation hereunder and under the other Loan Documents, the provisions of this
Article and Section 10.04 shall continue in effect for the benefit of such retiring Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the
retiring Agent was acting as Agent hereunder. 
 Any resignation by Wells Fargo as Agent pursuant to this Section shall also constitute its
resignation as Swing Line Lender and the resignation of Wells Fargo as L/C Issuer. Upon the acceptance of a successor’s appointment as Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and
(c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, 

  
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if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect
to such Letters of Credit. 
 9.07    Non-Reliance on Agent and Other
Lenders. Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate,
made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and based on
such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document
furnished hereunder or thereunder. Except as provided in Section 9.12, the Agent shall not have any duty or responsibility to provide any Credit Party with any other credit or other information concerning the affairs,
financial condition or business of any Loan Party that may come into the possession of the Agent. 

9.08    [Reserved]. 

9.09    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 Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the
Agent shall have made any demand on the Loan Parties) 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, the L/C Issuer, the Agent and the other Credit
Parties (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer, the Agent, such Credit Parties and their respective agents and counsel and all other amounts due the Lenders, the L/C
Issuer the Agent and such Credit Parties under Sections 2.03(i), 2.03(j), 2.03(k), 2.03(l) and 2.03(m), as applicable, 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 the L/C Issuer to make such payments to the Agent and, if the Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Agent any amount due for the
reasonable compensation, expenses, disbursements and advances of the Agent and its agents and counsel, and any other amounts due the Agent under Sections 2.09 and 10.04. 

  
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 Nothing contained herein shall be deemed to authorize the Agent to authorize or consent to
or accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the L/C Issuer or to authorize the Agent to vote in respect of
the claim of any Lender or the L/C Issuer in any such proceeding. 
 9.10    Collateral and Guaranty Matters. The
Credit Parties (including, as applicable, in their capacities as potential providers of Bank Products and/or Cash Management Services) irrevocably authorize the Agent, at its option and in its discretion, 

(a)    to release any Lien on any property granted to or held by the Agent under any Loan Document
(i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the expiration, termination or Cash Collateralization of all
Letters of Credit, (ii) that is sold or to be sold as part of or in connection with any sale permitted hereunder or under any other Loan Document, or (iii) if approved, authorized or ratified in writing by the Applicable Lenders in
accordance with Section 10.01; 
 (b)    to subordinate any Lien on Collateral
other than Inventory, Accounts, Credit Card Receivables, DDAs and securities accounts to the holder of any Lien permitted by clause (h) of the definition of Permitted Encumbrances to secure Indebtedness permitted pursuant to clause (c) of
the definition of Permitted Indebtedness; and 
 (c)    to release any Guarantor from its obligations
under the Facility Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder. 
 Upon request by the Agent at any
time, the Applicable Lenders will confirm in writing the Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Facility Guaranty pursuant to
this Section 9.10. In each case as specified in this Section 9.10, the Agent will, at the Loan Parties’ expense, execute and deliver to the applicable Loan Party such documents as such Loan
Party may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Security Documents or to subordinate its interest in such item, or to release such Guarantor from its
obligations under the Facility Guaranty, in each case in accordance with the terms of the Loan Documents and this Section 9.10. 

9.11    Notice of Transfer. 

The Agent may deem and treat a Lender party to this Agreement as the owner of such Lender’s portion of the Obligations for all purposes,
unless and until, and except to the extent, an Assignment and Acceptance shall have become effective as set forth in Section 10.06. 

9.12    Reports and Financial Statements. 

By signing this Agreement, each Lender: 

(a)    agrees to furnish the Agent (x) after the incurrence thereof (and thereafter at such frequency
as the Agent may reasonably request), with a summary of all Secured 

  
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Bank Products and Secured Cash Management Services due or to become due to such Lender or its Affiliates and (y) after the occurrence and during the continuance of a Cash Dominion Event (and
thereafter at such frequency as the Agent may reasonably request) with a summary of all Other Liabilities due or to become due to such Lender. In connection with any distributions to be made hereunder, the Agent shall be entitled to assume that no
amounts are due to any Lender on account of any Secured Bank Products, Secured Cash Management Services, and Other Liabilities unless the Agent has received written notice thereof from such Lender; 

(b)    is deemed to have requested that the Agent furnish such Lender, promptly after they become
available, copies of all Borrowing Base Certificates and financial statements required to be delivered by the Borrower hereunder and all commercial finance examinations and appraisals of the Collateral received by the Agent (collectively, the
“Reports”); 
 (c)    expressly agrees and acknowledges that the Agent makes no
representation or warranty as to the accuracy of the Reports, and shall not be liable for any information contained in any Report; 

(d)    expressly agrees and acknowledges that the Reports are not comprehensive audits or examinations,
that the Agent or any other party performing any audit or examination will inspect only specific information regarding the Loan Parties and will rely significantly upon the Loan Parties’ books and records, as well as on representations of the
Loan Parties’ personnel; 
 (e)    agrees to keep all Reports confidential in accordance with the
provisions of Section 10.07 hereof; and 
 (f)    without limiting the
generality of any other indemnification provision contained in this Agreement, agrees: (i) to hold the Agent and any such other Lender preparing a Report harmless from any action the indemnifying Lender may take or conclusion the indemnifying
Lender may reach or draw from any Report in connection with any Credit Extensions that the indemnifying Lender has made or may make to the Borrower, or the indemnifying Lender’s participation in, or the indemnifying Lender’s purchase of, a
Loan or Loans; and (ii) to pay and protect, and indemnify, defend, and hold the Agent and any such other Lender preparing a Report harmless from and against, the claims, actions, proceedings, damages, costs, expenses, and other amounts
(including attorney costs) incurred by the Agent and any such other Lender preparing a Report as the direct or indirect result of any third parties who might obtain all or part of any Report through the indemnifying Lender. 

9.13    Agency for Perfection. 

Each Lender hereby appoints each other Lender as agent for the purpose of perfecting Liens for the benefit of the Agent and the Lenders, in
assets which, in accordance with Article 9 of the UCC or any other applicable Law of the United States can be perfected only by possession. Should any Lender (other than the Agent) obtain possession of any such Collateral, such Lender shall notify
the Agent thereof, and, promptly upon the Agent’s request therefor shall deliver such Collateral to the Agent or otherwise deal with such Collateral in accordance with the Agent’s instructions. 

  
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 9.14    Indemnification of Agent. Without limiting the
obligations of the Loan Parties hereunder, the Lenders hereby agree to indemnify the Agent, the L/C Issuer and any Related Party, as the case may be, ratably according to their Applicable Percentages, from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against the Agent, the L/C Issuer and their Related Parties in any
way relating to or arising out of this Agreement or any other Loan Document or any action taken or omitted to be taken by the Agent, the L/C Issuer and their Related Parties in connection therewith; provided, that no Lender shall be liable
for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from the Agent’s, the L/C Issuer’s and their Related Parties’ gross negligence or
willful misconduct as determined by a final and nonappealable judgment of a court of competent jurisdiction. 

9.15    Relation among Lenders. The Lenders are not partners or
co-venturers, and no Lender shall be liable for the acts or omissions of, or (except as otherwise set forth herein in case of the Agent) authorized to act for, any other Lender. 

9.16    Defaulting Lenders. 

(a)    Notwithstanding the provisions of Section 2.14 hereof, the Agent shall not
be obligated to transfer to a Defaulting Lender any payments made by the Borrower to the Agent for the Defaulting Lender’s benefit or any proceeds of Collateral that would otherwise be remitted hereunder to the Defaulting Lender, and, in the
absence of such transfer to the Defaulting Lender, the Agent shall transfer any such payments (i) first, to the Swing Line Lender to the extent of any Swing Line Loans that were made by the Swing Line Lender and that were required to be, but
were not, paid by the Defaulting Lender, (ii) second, to the L/C Issuer, to the extent of the portion of a Letter of Credit Disbursement that was required to be, but was not, paid by the Defaulting Lender, (iii) third, to each Non-Defaulting Lender ratably in accordance with their Commitments (but, in each case, only to the extent that such Defaulting Lender’s portion of a Loan (or other funding obligation) was funded by such other Non-Defaulting Lender), (iv) to the Cash Collateral Account, the proceeds of which shall be retained by the Agent and may be made available to be re-advanced to or for the
benefit of the Borrower (upon the request of the Borrower and subject to the conditions set forth in Section 4.02) as if such Defaulting Lender had made its portion of the Loans (or other funding obligations) hereunder, and
(v) from and after the date on which all other Obligations have been paid in full, to such Defaulting Lender. Subject to the foregoing, the Agent may hold and, in its discretion, re-lend to the Borrower
for the account of such Defaulting Lender the amount of all such payments received and retained by the Agent for the account of such Defaulting Lender. Solely for the purposes of voting or consenting to matters with respect to the Loan Documents
(including the calculation of Applicable Percentages in connection therewith) and for the purpose of calculating the fee payable under Section 2.09(a), such Defaulting Lender shall be deemed not to be a “Lender”
and such Lender’s Commitment shall be deemed to be zero; provided, 

  
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that the foregoing shall not apply to any of the matters governed by Section 10.01(a) through (c). The provisions of this Section 9.16
shall remain effective with respect to such Defaulting Lender until the earlier of (y) the date on which all of the Non-Defaulting Lenders, the Agent, the L/C Issuer, and the Borrower shall have waived,
in writing, the application of this Section 9.16 to such Defaulting Lender, or (z) the date on which such Defaulting Lender pays to the Agent all amounts owing by such Defaulting Lender in respect of the amounts that
it was obligated to fund hereunder, and, if requested by the Agent, provides adequate assurance of its ability to perform its future obligations hereunder (on which earlier date, so long as no Event of Default has occurred and is continuing, any
remaining cash collateral held by the Agent pursuant to Section 9.16(b) shall be released to the Borrower). The operation of this Section 9.16 shall not be construed to increase or otherwise affect
the Commitment of any Lender, to relieve or excuse the performance by such Defaulting Lender or any other Lender of its duties and obligations hereunder, or to relieve or excuse the performance by the Borrower of its duties and obligations hereunder
to the Agent, the L/C Issuer, the Swing Line Lender, or to the Lenders other than such Defaulting Lender. Any failure by a Defaulting Lender to fund amounts that it was obligated to fund hereunder shall constitute a material breach by such
Defaulting Lender of this Agreement and shall entitle the Borrower, at its option, upon written notice to the Agent, to arrange for a substitute Lender to assume the Commitment of such Defaulting Lender, such substitute Lender to be reasonably
acceptable to the Agent. In connection with the arrangement of such a substitute Lender, the Defaulting Lender shall have no right to refuse to be replaced hereunder, and agrees to execute and deliver a completed form of Assignment and Assumption in
favor of the substitute Lender (and agrees that it shall be deemed to have executed and delivered such document if it fails to do so) subject only to being paid its share of the outstanding Obligations (other than any Other Liabilities, but
including (1) all interest, fees (except any unused line fees or Letter of Credit Fees not due to such Defaulting Lender in accordance with the terms of this Agreement), and other amounts that may be due and payable in respect thereof, and
(2) an assumption of its Applicable Percentage of its participation in the Letters of Credit); provided, that any such assumption of the Commitment of such Defaulting Lender shall not be deemed to constitute a waiver of any of the Credit
Parties’ or the Loan Parties’ rights or remedies against any such Defaulting Lender arising out of or in relation to such failure to fund. In the event of a direct conflict between the priority provisions of this
Section 9.16 and any other provision contained in this Agreement or any other Loan Document, it is the intention of the parties hereto that such provisions be read together and construed, to the fullest extent possible, to
be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this Section 9.16 shall control and govern. 

(b)    If any Swing Line Loan or Letter of Credit is outstanding at the time that a Lender becomes a
Defaulting Lender then: 
 (i)    such Defaulting Lender’s participation interest in any Swing Line
Loan or Letter of Credit shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages but only to the extent (x) the Outstanding Amount sum of all Non-Defaulting Lenders’ Credit Extensions after giving effect to such reallocation does not exceed the total of all Non-Defaulting Lenders’ Commitments and
(y) the conditions set forth in Section 4.02 are satisfied at such time; 

  
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 (ii)    if the reallocation described in clause (b)(i)
above cannot, or can only partially, be effected, the Borrower shall within one Business Day following notice by the Agent (x) first, prepay such Defaulting Lender’s participation in any outstanding Swing Line Loans (after giving effect to
any partial reallocation pursuant to clause (b)(i) above) and (y) second, cash collateralize such Defaulting Lender’s participation in Letters of Credit (after giving effect to any partial reallocation pursuant to clause (b)(i) above),
pursuant to a cash collateral agreement to be entered into in form and substance reasonably satisfactory to the Agent, for so long as such L/C Obligations are outstanding; provided, that the Borrower shall not be obligated to cash
collateralize any Defaulting Lender’s participations in Letters of Credit if such Defaulting Lender is also the L/C Issuer; 

(iii)    if the Borrower cash collateralizes any portion of such Defaulting Lender’s participation in
L/C Obligations pursuant to this Section 9.16(b), the Borrower shall not be required to pay any Letter of Credit Fees to the Agent for the account of such Defaulting Lender pursuant to Section 2.03
with respect to such cash collateralized portion of such Defaulting Lender’s participation in Letters of Credit during the period such participation is cash collateralized; 

(iv)    to the extent the participation by any Non-Defaulting
Lender in the Letters of Credit is reallocated pursuant to this Section 9.16(b), then the Letter of Credit Fees payable to the Non-Defaulting Lenders pursuant to
Section 2.03 shall be adjusted in accordance with such reallocation; 

(v)    to the extent any Defaulting Lender’s participation in Letters of Credit is neither cash
collateralized nor reallocated pursuant to this Section 9.16(b), then, without prejudice to any rights or remedies of the L/C Issuer or any Lender hereunder, all Letter of Credit Fees that would have otherwise been payable
to such Defaulting Lender under Section 2.03 with respect to such portion of such participation shall instead be payable to the L/C Issuer until such portion of such Defaulting Lender’s participation is cash
collateralized or reallocated; 
 (vi)    so long as any Lender is a Defaulting Lender, the Swing Line
Lender shall not be required to make any Swing Line Loan and the L/C Issuer shall not be required to issue, amend, or increase any Letter of Credit, in each case, to the extent (x) the Defaulting Lender’s Applicable Percentage of such
Swing Line Loans or Letter of Credit cannot be reallocated pursuant to this Section 9.16(b) or (y) the Swing Line Lender or the L/C Issuer, as applicable, has not otherwise entered into arrangements reasonably
satisfactory to the Swing Line Lender or the L/C Issuer, as applicable, and the Borrower to eliminate the Swing Line Lender’s or L/C Issuer’s risk with respect to the Defaulting Lender’s participation in Swing Line Loans or Letters of
Credit; and 

  
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 (vii)    The Agent may release any cash collateral
provided by the Borrower pursuant to this Section 9.16(b) to the L/C Issuer and the L/C Issuer may apply any such cash collateral to the payment of such Defaulting Lender’s Applicable Percentage of any Letter of Credit
Disbursement that is not reimbursed by the Borrower pursuant to Section 2.03. Subject to Section 10.25, no reallocation hereunder shall constitute a waiver or release of any claim of any party
hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such
Non-Defaulting Lender’s increased exposure following such reallocation. 

9.17    Secured Cash Management Services and Secured Bank Products. 

(a)    Except as otherwise expressly set forth herein or in any Facility Guaranty or any Security Document,
no provider of Cash Management Services or Bank Products 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 Security 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. 
 (b)    Each Credit Party
hereby agrees that the benefit of the provisions of the Loan Documents directly relating to the Collateral or any Lien granted thereunder shall extend to and be available to any Credit Party that is not the Agent, a Lender or an L/C Issuer party
hereto as long as, by accepting such benefits, such Credit Party agrees, as among the Agent and all other Credit Parties, that such Credit Party is bound by (and, if requested by the Agent, shall confirm such agreement in a writing in form and
substance reasonably acceptable to the Agent) this Article IX and Sections 3.01, 9.14, 10.08, 10.07, 10.09 and 10.16, and the decisions and actions of the Agent and the Required Lenders (or, where expressly required by the terms of this Agreement, a
greater proportion of the Lenders or other parties hereto as required herein) to the same extent a Lender is bound; provided, however, that, notwithstanding the foregoing clause (ii), (x) such Credit Party shall be bound by the provisions of
Section 10.04 only to the extent of liabilities, reimbursement obligations, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses, or disbursements with respect to or otherwise relating to the Liens and Collateral
held for the benefit of such Credit Party, in which case the obligations of such Credit Party thereunder shall not be limited by any concept of pro rata share or similar concept, (y) each of the Agent, the Lenders and the L/C Issuer party
hereto shall be entitled to act at its sole discretion, without regard to the interest of such Credit Party, regardless of whether any Obligation to such Credit Party thereafter remains outstanding, is deprived of the benefit of the Collateral,
becomes unsecured or is otherwise affected or put in jeopardy thereby, and without any duty or liability to such Credit Party or any such Obligation and (z) such Credit Party shall not have any right to be notified of, consent to, direct,
require or be heard with respect to, any action taken or omitted in respect of the Collateral or under any Loan Document. 

  
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 ARTICLE X 

MISCELLANEOUS 

10.01    Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document
(other than Swap Contracts), and no Consent to any departure by any Loan Party therefrom, shall be effective unless in writing signed by the 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 Agent, and each such waiver or Consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 

(a)    increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to
Section 8.02) without the written Consent of such Lender; 
 (b)    as to any
Lender, postpone any date fixed by this Agreement or any other Loan Document for (i) any scheduled payment (including the Maturity Date) or mandatory prepayment of principal, interest, fees or other amounts due hereunder or under any of the
other Loan Documents without the written Consent of such Lender entitled to such payment, or (ii) any scheduled or mandatory reduction or termination of the Aggregate Commitments hereunder or under any other Loan Document without the written
Consent of such Lender; 
 (c)    as to any Lender, reduce the principal of, or the rate of interest
specified herein on, any Loan held by such Lender, or (subject to clause (iv) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document to or for the
account of such Lender without the written Consent of each Lender entitled to such amount; provided, however, that only the Consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate”
or to waive any obligation of the Borrower to pay interest or Letter of Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce
the rate of interest on any Loan or to reduce any fee payable hereunder; 
 (d)    as to any Lender,
change Section 2.13 or Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written Consent of such Lender; 

(e)    change any provision of this Section or the definition of “Required Lenders” or
“Supermajority Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the
written Consent of each Lender; 
 (f)    except as expressly permitted hereunder or under any other Loan
Document, release, or limit the liability of, any Loan Party without the written Consent of each Lender; 

  
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 (g)    except for Permitted Dispositions, release all or
substantially all of the Collateral from the Liens of the Security Documents without the written Consent of each Lender; 

(h)    change the definition of the term “Borrowing Base” or any component definition thereof
(other than “Credit Card Advance Rate” or “Inventory Advance Rate”) if as a result thereof the amounts available to be borrowed by the Borrower would be increased without the written Consent of the Supermajority Lenders,
provided that the foregoing shall not limit the Permitted Discretion of the Agent to change, establish or eliminate any Reserves; 

(i)    change the definition of the term “Credit Card Advance Rate” or “Inventory Advance
Rate” if as a result thereof the amounts available to be borrowed by the Borrower would be increased without the written Consent of each Lender; 

(j)    modify the definition of Permitted Overadvance so as to increase the amount thereof or, except as
provided in such definition, the time period for which a Permitted Overadvance may remain outstanding without the written Consent of each Lender; and 

(k)    except as expressly permitted herein or in any other Loan Document, subordinate the Obligations
hereunder or the Liens granted hereunder or under the other Loan Documents, to any other Indebtedness or Lien, as the case may be without the written Consent of each Lender; 

and, provided further, that (i) no amendment, waiver or Consent shall, unless in writing and signed by the L/C Issuer in addition to the
Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or Consent shall, unless in writing and
signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or Consent shall, unless in writing and signed by the Agent in
addition to the Lenders required above, affect the rights or duties of the Agent under this Agreement or any other Loan Document; and (iv) each Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by
the parties thereto. 
 Notwithstanding the foregoing, the Agent and the Loan Parties may amend, modify or supplement this Agreement or any other Loan
Document to cure any ambiguity, error, omission, defect or inconsistency or any necessary or desirable administrative or technical change without any further action or consent of any other party to any Loan Document, so long as such amendment,
modification or supplement does not materially and adversely affect the rights of any Lender. 
 Notwithstanding anything to the contrary in
this Agreement or any other Loan Document, no provider or holder of any Bank Products or Cash Management Services shall have any voting or approval rights hereunder (or be deemed a Lender) solely by virtue of its status as the provider or holder of
such agreements or products or the Obligations owing thereunder, nor shall the consent of any such provider or holder be required (other than in their capacities as Lenders, to the extent applicable) for any matter hereunder or under any of the
other Loan Documents, including as to any matter relating to the Collateral or the release of Collateral or any Loan Party. 

  
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 If any Lender does not Consent (a
“Non-Consenting Lender”) to a proposed amendment, waiver, consent or release with respect to any Loan Document that requires the Consent of each Lender and that has been approved by the
Required Lenders, the Borrower may replace such Non-Consenting Lender in accordance with Section 10.13; provided that such amendment, waiver, consent or release can be effected
as a result of the assignment contemplated by such Section (together with all other such assignments required by the Borrower to be made pursuant to this paragraph). 

10.02    Notices; Effectiveness; Electronic Communications. 

(a)    Notices Generally. 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 electronic transmission as follows: (i) if to the Loan Parties, the Agent, the
L/C Issuer or the Swing Line Lender, to the address, telecopier number, and/or electronic mail address specified for such Person on Schedule 10.02; and (ii) if to any other Lender, to the address, telecopier number, or electronic mail address
specified in its Administrative Questionnaire. 
 Notices sent by hand or overnight courier service, or mailed by certified or registered
mail, shall be deemed to have been given when received; notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the
opening of business on the next Business Day for the recipient). Notices delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b). 

(b)    Electronic Communications. Notices and other communications to the Loan Parties, the Lenders
and the L/C Issuer hereunder may be delivered or furnished by electronic communication (including e mail and Internet or intranet websites) pursuant to procedures approved by the Agent, provided that the foregoing shall not apply to notices
to any Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified the Agent that it is incapable of receiving notices under such Article by electronic communication. The Agent may, in its
discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications.

 Unless the 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 Business Day for the recipient, and (ii) notices or communications posted to an Internet or 

  
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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. 

(c)    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 Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to any Loan Party, any Lender, the L/C Issuer or
any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Loan Parties’ or the 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 nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party;
provided, however, that in no event shall any Agent Party have any liability to any Loan Party, any Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct
or actual damages). 
 (d)    Change of Address, Etc. Each of the Loan Parties, the Agent, the L/C
Issuer and the Swing Line Lender may change its address or telecopier for notices and other communications hereunder, or, solely with respect to communications, may change its telephone number, by notice to the other parties hereto. Each other
Lender may change its address or telecopier number for notices and other communications hereunder by notice to the Borrower, the Agent, the L/C Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the Agent from time to time
to ensure that the Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for
such Lender. 
 (e)    Reliance by Agent, L/C Issuer and Lenders. The Agent, the L/C Issuer and
the Lenders shall be entitled to rely and act upon any notices (including, without limitation, all Requests for Credit Extensions) purportedly given by or on behalf of the Loan Parties 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 Loan Parties shall indemnify
the Agent, the L/C Issuer, each Lender and the Related Parties 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 Loan Parties
(including, without limitation, pursuant to any Requests for Credit Extensions). All telephonic communications with the Agent may be recorded by the Agent, and each of the parties hereto hereby consents to such recording. 

  
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 10.03    No Waiver; Cumulative Remedies. No failure by any Credit
Party to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under
any other Loan Document preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges provided herein and in the other Loan Documents are cumulative and not
exclusive of any rights, remedies, powers and privileges provided by law. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default or Event of Default,
regardless of whether any Credit Party may have had notice or knowledge of such Default or Event of Default at the time. 

10.04    Expenses; Indemnity; Damage Waiver. 

(a)    Costs and Expenses. The Borrower shall pay all Credit Party Expenses. 

(b)    Indemnification by the Loan Parties. The Loan Parties shall indemnify the Agent (and any sub-agent thereof), each other Credit Party, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless (on an
after tax basis) from, any and all losses, claims, causes of action, damages, liabilities, settlement payments, costs, and related expenses (including the reasonable and documented
out-of-pocket fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by any third party or by
the Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance
by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, or, in the case of the Agent (and any sub-agents thereof)
and their Related Parties only, the administration of this Agreement and the other Loan Documents, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer 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, any bank advising or confirming a Letter of Credit or any other nominated person with
respect to a Letter of Credit seeking to be reimbursed or indemnified or compensated, and any third party seeking to enforce the rights of a Borrower, beneficiary, nominated person, transferee, assignee of Letter of Credit proceeds, or holder of an
instrument or document related to any Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by any Loan Party or any of its Subsidiaries, or any Environmental Liability
related in any way to any Loan Party or any of its Subsidiaries, (iv) any claims of, or amounts paid by any Credit Party to, a Blocked Account Bank or other Person which has entered into a control agreement with any Credit Party hereunder, or
(v) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party or
any of the Loan 

  
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Parties’ directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto, in all cases, whether or not caused by or arising, in whole or in part, out of the
comparative, contributory or sole negligence of the Indemnitee; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a
court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by a Borrower or any other Loan Party against an
Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrower or such Loan Party has obtained a final and nonappealable judgment in its favor on such claim as determined by a
court of competent jurisdiction. 
 (c)    Reimbursement by Lenders. Without limiting their
obligations under Section 9.14 hereof, to the extent that the Loan Parties for any reason fail to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it, each Lender severally
agrees to pay to the Agent (or any such sub-agent), the L/C Issuer or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Agent
(or any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting for the Agent (or any such sub-agent) or
L/C Issuer in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.12(d). 

(d)    Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable Law, the
Loan Parties shall not assert, and hereby waive, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or
as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee shall be
liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems
in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a
final and nonappealable judgment of a court of competent jurisdiction. 
 (e)    Payments. All
amounts due under this Section shall be payable on demand therefor. 
 (f)    Survival. The
agreements in this Section shall survive the resignation of the Agent and the L/C Issuer, the assignment of any Commitment or Loan by any Lender, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment,
satisfaction or discharge of all the other Obligations. 

  
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 10.05    Payments Set Aside. To the extent that any payment by or
on behalf of the Loan Parties is made to any Credit Party, or any Credit Party 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 Credit Party 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 and the L/C Issuer severally agrees to pay to the Agent upon demand its Applicable Percentage (without duplication) of any amount so recovered from or repaid by the 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 Federal Funds Rate from time to time in effect. The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the
Obligations and the termination of this Agreement. 
 10.06    Successors and Assigns. 

(a)    Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that no Loan Party may assign or otherwise transfer any of its rights or obligations hereunder or under any other Loan Document without
the prior written Consent of the Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of
Section 10.06(b), (ii) by way of participation in accordance with the provisions of Section 10.06(d), or (iii) by way of pledge or assignment of a security interest subject to the restrictions
of Section 10.06(f) (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 subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Credit Parties)
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 Eligible Assignees
all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment(s) and the Loans (including for purposes of this Section 10.06(b), participations in L/C Obligations and in
Swing Line Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(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 or an Affiliate of a Lender or an Approved Fund with respect to a Lender, no minimum amount need be assigned; and 

  
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 (B)    in any case not described in subsection
(b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender
subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date,
shall not be less than $10,000,000 unless each of the Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed and shall be deemed given
if the Borrower has not responded to a request for such consent within seven (7) Business Days); 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, except that this clause (ii) shall not apply to the Swing Line Lender’s rights and
obligations in respect of Swing Line Loans; 
 (iii)    Required Consents. No consent shall be
required for any assignment except to the extent required by subsection (b)(i)(B) of this Section 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 has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; and 

(B)    the consent of the Agent (such consent not to be unreasonably withheld or delayed) shall be
required for assignments in respect of any Commitment 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; and 

(C)    the consent of the L/C Issuer (such consent not to be unreasonably withheld or delayed) shall be
required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and 

  
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 (D)    the consent of the Swing Line Lender (such
consent not to be unreasonably withheld or delayed) shall be required for any assignment in respect of the assignment of any Commitment. 

(iv)    Assignment and Assumption. The parties to each assignment shall execute and deliver to the
Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500, provided, however, that the Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any
assignment. The assignee, if it shall not be a Lender, shall deliver to the Agent an Administrative Questionnaire. 
 Subject to acceptance
and recording thereof by the Agent pursuant to subsection (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent
of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be
released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall
continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, and 10.04 with respect to facts and circumstances occurring prior to the effective date of such assignment. Upon request, 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 10.06(d). 

(c)    Register. The Agent, acting solely for this purpose as an agent of the Borrower, shall
maintain at the Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans and L/C Obligations
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 Loan Parties, the Agent and the Lenders may treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender at
any reasonable time and from time to time upon reasonable prior notice. 
 (d)    Participations.
Any Lender may at any time, without the consent of, or notice to, the Loan Parties or the Agent, sell participations to any Person (other than a natural person or the Loan Parties or any of the Loan Parties’ Affiliates or Subsidiaries) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations
and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (iii) the Loan Parties, the Agent, the Lenders and the 

  
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L/C Issuer shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any Participant shall agree in writing to
comply with all confidentiality obligations set forth in Section 10.07 as if such Participant was a Lender hereunder. 

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain
the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that affects such Participant. Subject to subsection (e) of this Section, the Loan Parties agree that
each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 10.06(b). To
the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.13 as
though it were a Lender. 
 (e)    Limitations upon Participant Rights. A Participant shall not be
entitled to receive any greater payment under Section 3.01 or 3.04 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. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Borrower is notified
of the participation sold to such Participant and such Participant agrees, for the benefit of the Loan Parties, to comply with Section 3.01(e) as though it were a Lender. 

(f)    Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or
any portion of its rights under this Agreement (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; 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)    Electronic Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

(h)    Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding anything to
the contrary contained herein, if at any time Wells Fargo assigns all of its Commitment and Loans pursuant to subsection (b) above, Wells Fargo may, (i) upon 30 days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or

  
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(ii) upon 30 days’ notice to the Borrower, Wells Fargo may resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line Lender, the Borrower shall be
entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of Wells Fargo as L/C Issuer or Swing
Line Lender, as the case may be. If Wells Fargo resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its
resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans pursuant to Section 2.03(c)). If Wells Fargo resigns as Swing Line Lender, it shall
retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or
fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested with
all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding
at the time of such succession or make other arrangements satisfactory to Wells Fargo to effectively assume the obligations of Wells Fargo with respect to such Letters of Credit. 

10.07    Treatment of Certain Information; Confidentiality. Each of the Credit Parties agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, funding sources, attorneys,
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), (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), (c) to the extent required by applicable Laws or regulations or by any subpoena
or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or
the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to any Loan Party and its obligations, (g) with the consent of the
Borrower or (h) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to any Credit Party or any of their respective Affiliates on a non-confidential basis from a source other than the Loan Parties. 
 For purposes of this Section,
“Information” means all information received from the Loan Parties or any Subsidiary thereof relating to the Loan Parties or any Subsidiary thereof or their respective businesses, other than any such information that is available to any
Credit Party on a non-confidential basis prior to disclosure by the Loan Parties or any Subsidiary thereof, provided that, in the case of information received from any Loan Party or any Subsidiary after the
Closing Date, such information is clearly identified at the time of delivery as confidential. Any Person 

  
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required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree
of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 
 Each of the
Credit Parties acknowledges that (a) the Information may include material non-public information concerning the Loan Parties or a Subsidiary, as the case may be, (b) it has developed compliance
procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable Law,
including Federal and state securities Laws. 
 10.08    Right of Setoff. If an Event of Default shall have
occurred and be continuing or if any Lender shall have been served with a trustee process or similar attachment relating to property of a Loan Party, each Lender, the L/C Issuer 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 Agent or the Required Lenders, 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, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrower or any other Loan Party against
any and all of the Obligations now or hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C Issuer, regardless of the adequacy of the Collateral, and irrespective of whether or not such Lender or the L/C Issuer
shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower or such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different
from the branch or office holding such deposit or obligated on such indebtedness. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of
setoff) that such Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Borrower and the 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. 
 10.09    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 the 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 the 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. 
 10.10    Counterparts; Integration;
Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This

  
 150 

 
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 Agent and when the 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 telecopy, pdf or other electronic transmission shall be as effective
as delivery of a manually executed counterpart of this Agreement. Each party agrees that the electronic signatures, whether digital or encrypted, of the parties included in this Agreement are intended to authenticate this writing and to have the
same force and effect as manual signatures. Electronic signature means any electronic sound, symbol, or process attached to or logically associated with a record and executed and adopted by a party with the intent to sign such record pursuant to the
New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309) as amended from time to time or as provided under the Uniform Commercial Code as adopted by the State of New York. 

10.11    Survival. 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 Credit Parties, regardless
of any investigation made by any Credit Party or on their behalf and notwithstanding that any Credit Party may have had notice or knowledge of any Default or Event of 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 or any Letter of Credit shall remain outstanding. Further, the provisions of Sections 3.01, 3.04, 3.05 and 10.04 and
Article IX shall survive and remain in full force and effect regardless of the repayment of the Obligations, the expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement or any provision
hereof. In connection with the termination of this Agreement and the release and termination of the security interests in the Collateral, the Agent may require such indemnities and collateral security as they shall reasonably deem necessary or
appropriate to protect the Credit Parties against (x) loss on account of credits previously applied to the Obligations that may subsequently be reversed or revoked, (y) any obligations that may thereafter arise with respect to the Other
Liabilities and (z) any Obligations that may thereafter arise under Section 10.04. 

10.12    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. 

10.13    Replacement of Lenders. If any Lender requests compensation under Section 3.04,
or if 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 is a Defaulting Lender or a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Agent, require such Lender to assign and delegate, 

  
 151 

 
without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 10.06), all of its interests, rights and obligations
under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that: 

(a)    the Borrower shall have paid to the Agent the assignment fee specified in
Section 10.06(b); 
 (b)    such Lender shall have received payment of an
amount equal to the 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) 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); 

(c)    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; and 

(d)    such assignment does not conflict with applicable Laws. 

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. 
 10.14    Governing
Law; Jurisdiction; Etc. 
 (a)    GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 (b)    SUBMISSION TO
JURISDICTION. EACH LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY 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 LOAN
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 LOAN 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. NOTHING IN THIS AGREEMENT OR
IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY CREDIT PARTY MAY 

  
 152 

 
OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c)    WAIVER OF VENUE. EACH LOAN PARTY 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. EACH OF THE LOAN 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. 

(d)    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. 

(e)    ACTIONS COMMENCED BY LOAN PARTIES. EACH LOAN PARTY AGREES THAT ANY ACTION COMMENCED BY ANY
LOAN PARTY ASSERTING ANY CLAIM OR COUNTERCLAIM ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT SHALL BE BROUGHT SOLELY IN A COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY OR ANY FEDERAL COURT SITTING THEREIN
AS THE AGENT MAY ELECT IN ITS DISCRETION AND CONSENTS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS WITH RESPECT TO ANY SUCH ACTION. 

10.15    Waiver of Jury Trial. 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.

 10.16    No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction
contemplated hereby, the Loan Parties each acknowledge and agree that: (i) the credit facility provided for hereunder and any related arranging or other services in connection therewith 

  
 153 

 
(including in connection with any amendment, waiver or other modification hereof or of any other Loan Document) are an arm’s-length commercial
transaction between the Loan Parties, on the one hand, and the Credit Parties, on the other hand, and each of the Loan Parties is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions
contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof); (ii) in connection with the process leading to such transaction, the each Credit Party is and has been acting solely as a
principal and is not the financial advisor, agent or fiduciary, for the Loan Parties or any of their respective Affiliates, stockholders, creditors or employees or any other Person; (iii) none of the Credit Parties has assumed or will assume an
advisory, agency or fiduciary responsibility in favor of the Loan Parties with respect to any of the transactions contemplated hereby or the process leading thereto, including with respect to any amendment, waiver or other modification hereof or of
any other Loan Document (irrespective of whether any of the Credit Parties has advised or is currently advising any Loan Party or any of its Affiliates on other matters) and none of the Credit Parties has any obligation to any Loan Party or any of
its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; (iv) the Credit Parties and their respective Affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of the Loan Parties and their respective Affiliates, and none of the Credit Parties has any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary
relationship; and (v) the Credit Parties have not provided and will not provide any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby (including any amendment, waiver or other modification
hereof or of any other Loan Document) and each of the Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate. Each of the Loan Parties hereby waives and releases, to the fullest
extent permitted by law, any claims that it may have against each of the Credit Parties with respect to any breach or alleged breach of agency or fiduciary duty. 

10.17    USA PATRIOT Act Notice. Each Lender that is subject to the requirements of the Patriot Act hereby notifies
the Loan Parties that pursuant to the requirements of the Patriot Act, 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 to identify each Loan Party in accordance with the Patriot Act. In addition, Agent and each Lender shall have the right to periodically conduct due diligence on all Loan Parties, their senior management and key principals
and legal and beneficial owners. Each Loan Party agrees to cooperate in respect of the conduct of such due diligence and further agrees that the reasonable costs and charges for any such due diligence by Agent shall constitute Credit Party Expenses
hereunder and be for the account of Borrower. 
 10.18    Foreign Asset Control Regulations. Neither of the
advance of the Loans nor the use of the proceeds of any thereof will violate the Trading With the Enemy Act (50 U.S.C. § 1 et seq., as amended) (the “Trading With the Enemy Act”) or any of the foreign assets control regulations
of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) (the “Foreign Assets Control Regulations”) or any enabling legislation or executive order relating thereto (which for the avoidance of doubt shall
include, but shall not be limited to (a) Executive Order 13224 of September 21, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)) (the
“Executive Order”) and (b) the Uniting and Strengthening America by Providing Appropriate 

  
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Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56)). Furthermore, none of the Borrower or its Affiliates (a) is or
will become a “blocked person” as described in the Executive Order, the Trading With the Enemy Act or the Foreign Assets Control Regulations or (b) engages or will engage in any dealings or transactions, or be otherwise associated,
with any such “blocked person” or in any manner violative of any such order. 
 10.19    Time of the
Essence. Time is of the essence of the Loan Documents. 
 10.20    Press Releases. 

(a)    Each Credit Party executing this Agreement agrees that neither it nor its Affiliates will in the
future issue any press releases or other public disclosure using the name of the Agent or its Affiliates or referring to this Agreement or the other Loan Documents without at least two (2) Business Days’ prior notice to the Agent and
without the prior written consent of the Agent unless (and only to the extent that) such Credit Party or Affiliate is required to do so under applicable Law and then, in any event, such Credit Party or Affiliate will consult with the Agent before
issuing such press release or other public disclosure. 
 (b)    Each Loan Party consents to the
publication by the Agent, any Lender or their respective representatives of advertising material, including any “tombstone,” press release or comparable advertising, on its website or in other marketing materials of Agent, relating to the
financing transactions contemplated by this Agreement using any Loan Party’s name, product photographs, logo, trademark or other insignia. The Agent or such Lender shall provide a draft reasonably in advance of any advertising material,
“tomb stone” or press release to the Borrower for review and comment prior to the publication thereof. The Agent reserves the right to provide to industry trade organizations and loan syndication and pricing reporting services information
necessary and customary for inclusion in league table measurements. 
 10.21    Additional Waivers. 

(a)    The Obligations are the joint and several obligation of each Loan Party. To the fullest extent
permitted by applicable law, the obligations of each Loan Party shall not be affected by (i) the failure of any Credit Party to assert any claim or demand or to enforce or exercise any right or remedy against any other Loan Party under the
provisions of this Agreement, any other Loan Document or otherwise, (ii) any rescission, waiver, amendment or modification of, or any release from any of the terms or provisions of, this Agreement or any other Loan Document, or (iii) the
failure to perfect any security interest in, or the release of, any of the Collateral or other security held by or on behalf of the Agent or any other Credit Party. 

(b)    The obligations of each Loan Party shall not be subject to any reduction, limitation, impairment or
termination for any reason (other than the indefeasible payment in full in cash of the Obligations after the termination of the Commitments), including any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and
shall not be subject to any defense or setoff, counterclaim, recoupment or termination 

  
 155 

 
whatsoever by reason of the invalidity, illegality or unenforceability of any of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Loan Party
hereunder shall not be discharged or impaired or otherwise affected by the failure of the Agent or any other Credit Party to assert any claim or demand or to enforce any remedy under this Agreement, any other Loan Document or any other agreement, by
any waiver or modification of any provision of any thereof, any default, failure or delay, willful or otherwise, in the performance of any of the Obligations, or by any other act or omission that may or might in any manner or to any extent vary the
risk of any Loan Party or that would otherwise operate as a discharge of any Loan Party as a matter of law or equity (other than the indefeasible payment in full in cash of all the Obligations after the termination of the Commitments). 

(c)    To the fullest extent permitted by applicable Law, each Loan Party waives any defense based on or
arising out of any defense of any other Loan Party or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of any other Loan Party, other than the indefeasible payment in full
in cash of all the Obligations and the termination of the Commitments. The Agent and the other Credit Parties may, at their election, foreclose on any security held by one or more of them by one or more judicial or
non-judicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with any other Loan Party, or exercise any
other right or remedy available to them against any other Loan Party, without affecting or impairing in any way the liability of any Loan Party hereunder except to the extent that all the Obligations have been indefeasibly paid in full in cash and
the Commitments have been terminated. Each Loan Party waives any defense arising out of any such election even though such election operates, pursuant to applicable Law, to impair or to extinguish any right of reimbursement or subrogation or other
right or remedy of such Loan Party against any other Loan Party, as the case may be, or any security. 

(d)    Each Borrower is obligated to repay the Obligations as joint and several obligors under this
Agreement. Upon payment by any Loan Party of any Obligations, all rights of such Loan Party against any other Loan Party arising as a result thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all
respects be subordinate and junior in right of payment to the prior indefeasible payment in full in cash of all the Obligations and the termination of the Commitments. In addition, any indebtedness of any Loan Party now or hereafter held by any
other Loan Party is hereby subordinated in right of payment to the prior indefeasible payment in full of the Obligations and no Loan Party will demand, sue for or otherwise attempt to collect any such indebtedness. If any amount shall erroneously be
paid to any Loan Party on account of (i) such subrogation, contribution, reimbursement, indemnity or similar right or (ii) any such indebtedness of any Loan Party, such amount shall be held in trust for the benefit of the Credit Parties
and shall forthwith be paid to the Agent to be credited against the payment of the Obligations, whether matured or unmatured, in accordance with the terms of this Agreement and the other Loan Documents. Subject to the foregoing, to the extent that
any Borrower shall, under this Agreement as a joint and several obligor, repay any of the Obligations constituting Loans made to another Borrower hereunder or other Obligations incurred directly and primarily by any other Borrower (an
“Accommodation Payment”), 

  
 156 

 
then the Borrower making such Accommodation Payment shall be entitled to contribution and indemnification from, and be reimbursed by, each of the other Borrowers in an amount, for each of such
other Borrower, equal to a fraction of such Accommodation Payment, the numerator of which fraction is such other Borrower’s Allocable Amount and the denominator of which is the sum of the Allocable Amounts of all of the Borrowers. As of any
date of determination, the “Allocable Amount” of each Borrower shall be equal to the maximum amount of liability for Accommodation Payments which could be asserted against such Borrower hereunder without (a) rendering such
Borrower “insolvent” within the meaning of Section 101 (32) of the Bankruptcy Code, Section 2 of the Uniform Fraudulent Transfer Act (“UFTA”) or Section 2 of the Uniform Fraudulent Conveyance Act
(“UFCA”), (b) leaving such Borrower with unreasonably small capital or assets, within the meaning of Section 548 of the Bankruptcy Code, Section 4 of the UFTA, or Section 5 of the UFCA, or (c) leaving such
Borrower unable to pay its debts as they become due within the meaning of Section 548 of the Bankruptcy Code or Section 4 of the UFTA, or Section 5 of the UFCA. 

10.22    No Strict Construction. 

The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent
or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this
Agreement. 
 10.23    Attachments. 

The exhibits, schedules and annexes attached to this Agreement are incorporated herein and shall be considered a part of this Agreement for the
purposes stated herein, except that in the event of any conflict between any of the provisions of such exhibits and the provisions of this Agreement, the provisions of this Agreement shall prevail. 

10.24    Keepwell. 

Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other
support as may be needed from time to time by each other Loan Party to honor all of its obligations under the Facility Guaranty in respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this
Section 10.24 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 10.24, or otherwise under the Facility Guaranty, voidable
under applicable Law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section shall remain in full force and effect until payment in full of the
Obligations. Each Qualified ECP Guarantor intends that this Section 10.24 constitute, and this Section 10.24 shall be deemed to constitute, a “keepwell, support, or other agreement” for
the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

  
 157 

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

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

(b)    the effects of any Bail-In Action on any such liability,
including, if applicable: 
 (i)    a reduction in full or in part or cancellation of any such liability;

 (ii)    a conversion of all, or a portion of, such liability into shares or other instruments of
ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights
with respect to any such liability under this Agreement or any other Loan Document; or 
 (iii)    the
variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 

10.26    Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support,
through a guarantee or otherwise, for Swap Contracts 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): 

(a)    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 

  
 158 

 
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. 

(b)    As used in this Section 10.26, the following terms have the following
meanings: 
 (c)    “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. 

(d)    “Covered Entity” means any of the following: 

(i)    a “covered entity” as that term is defined in, and interpreted in accordance with, 12
C.F.R. § 252.82(b); 
 (ii)    a “covered bank” as that term is defined in, and
interpreted in accordance with, 12 C.F.R. § 47.3(b); or 
 (iii)    a “covered FSI” as
that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 

(e)    “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. 
 (f)    “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). 

[Signature pages follow] 

  
 159 

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

					
	BORROWER:
	
	FIVE BELOW, INC.
		
	By:	 	
                     
                                       

		 	Name:	 	
                     
                                       

		 	Title:	 	  

	
	GUARANTOR:
	
	1616 HOLDINGS, INC.
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  
 [Signature Page –
Fifth A&R Credit Agreement (Five Below)] 

 
					
	AGENT:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Agent
		
	By:	 	
                     
                                         
          

		 	Name:	 	Peter
Foley                                        

		 	Title:	 	Director

  
 [Signature Page –
Fifth A&R Credit Agreement (Five Below)] 

 
					
	LENDERS:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION as L/C Issuer, as a Lender and Swing Line Lender
		
	By:	 	
                     
                           

		 	Name:	 	Peter
Foley                                        

		 	Title:	 	Director

  
 [Signature Page –
Fifth A&R Credit Agreement (Five Below)] 

 
			
	[                    ], as a Lender
		
	By:	 	
                     
                                       

		 	Name:
		 	Title:

  
 [Signature Page –
Fifth A&R Credit Agreement (Five Below)] 

 ANNEX B 

Amended Schedule 
 [see
attached] 

 SCHEDULE 10.02 

AGENT’S OFFICE; CERTAIN ADDRESSES FOR NOTICES 

If to the Borrower: 
 Five Below, Inc. 

701 Market Street, Suite 300, 
 Philadelphia, PA 19106 

Attention: Kenneth R. Bull, Chief Financial Officer 
 Facsimile No. 215-207-1695 
 Email: Ken.Bull@fivebelow.com 

If to any other Loan Party, to such Loan Party at: 
 Five Below,
Inc. 
 701 Market Street, Suite 300, 
 Philadelphia, PA 19106

 Attention: Kenneth R. Bull, Chief Financial Officer 

Telephone: 215-207-2604 

Facsimile No. 215-207-1695 

Email: Ken.Bull@fivebelow.com 
 with a copy to: 

Troutman Pepper Hamilton LLP 
 3000 Two Logan Square 

Eighteenth and Arch Street 
 Philadelphia, PA 19103 

Attention: Barry Abelson, Esquire 
 If to the Agent: 

Wells Fargo Bank, National Association 
 125 High Street, Suite
1100 
 Boston, Massachusetts 02110 
 Attention: Pete Foley 

Telephone: 617-854-7283 

Facsimile No. 855-461-3726 

Email: Peter.Foley@wellsfargo.com 
 with a copy to: 

Morgan, Lewis & Bockius LLP 
 One Federal Street 

Boston, Massachusetts 02110 
 Attention: Marjorie S. Crider 

Telephone: (617) 341-7789 

Facsimile: (617) 341-7701 

Email: Marjorie.crider@morganlewis.comExhibit 4.1

 

Execution Version

 

 

 

TECHNIPFMC PLC

 

6.500% SENIOR NOTES DUE 2026

 

INDENTURE

 

DATED AS OF JANUARY 29, 2021

 

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 

 

  

     

     

    

  

TABLE OF
CONTENTS

 

	 	Page
	 	 
	ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE	 
	 	 	 
	Section 1.1.	Definitions	1
	Section 1.2.	Other Definitions	27
	Section 1.3.	Rules of Construction	28
	Section 1.4.	Limited Condition Transaction.	29
	 	 
	ARTICLE II 

THE NOTES	 
	 	 
	Section 2.1.	Form and Dating	30
	Section 2.2.	Execution and Authentication	31
	Section 2.3.	Registrar; Paying Agent	31
	Section 2.4.	Paying Agent to Hold Money in Trust	32
	Section 2.5.	Holder Lists	32
	Section 2.6.	Book-Entry Provisions for Global Notes	32
	Section 2.7.	Replacement Notes	34
	Section 2.8.	Outstanding Notes	35
	Section 2.9.	Treasury Notes	35
	Section 2.10.	Reserved	35
	Section 2.11.	Cancellation	35
	Section 2.12.	Defaulted Interest	35
	Section 2.13.	Computation of Interest	35
	Section 2.14.	CUSIP Number	36
	Section 2.15.	Special Transfer Provisions	36
	Section 2.16.	Issuance of Additional Notes	38
	Section 2.17.	Additional Amounts	38
	 	 
	ARTICLE III 

REDEMPTION AND PREPAYMENT	 
	 	 
	Section 3.1.	Notices to Trustee	40
	Section 3.2.	Selection of Notes to Be Redeemed	40
	Section 3.3.	Notice of Optional Redemption	40
	Section 3.4.	Effect of Notice of Redemption	42
	Section 3.5.	Deposit of Redemption Price	42
	Section 3.6.	Notes Redeemed in Part	42
	Section 3.7.	Optional Redemption	42
	Section 3.8.	Optional Tax Redemption	43
	Section 3.9.	Special Mandatory Redemption	44
	Section 3.10.	Certain Tender Offers	45
	 	 
	ARTICLE IV 

COVENANTS	 
	 	 
	Section 4.1.	Payment of Notes	45
	Section 4.2.	Maintenance of Office or Agency	45
	Section 4.3.	Provision of Financial Information	45
	Section 4.4.	Compliance Certificate	47
	Section 4.5.	Taxes	47

 

    	 	i	 

     

    

  

	Section 4.6.	Stay, Extension and Usury Laws	47
	Section 4.7.	Limitation on Restricted Payments	48
	Section 4.8.	Limitation on Dividend and Other Restrictions Affecting Restricted Subsidiaries	50
	Section 4.9.	Limitation on Additional Indebtedness	52
	Section 4.10.	Limitation on Asset Sales	56
	Section 4.11.	Limitation on Transactions with Affiliates	59
	Section 4.12.	Limitation on Liens	61
	Section 4.13.	Offer to Purchase upon Change of Control Triggering Event	61
	Section 4.14.	Corporate Existence	63
	Section 4.15.	Additional Guarantees	63
	Section 4.16.	Limitation on Designation of Unrestricted Subsidiaries	63
	Section 4.17.	Effectiveness of Covenants	65
	Section 4.18.	Use of Proceeds Prior to the Consummation of the Spinoff	66
	Section 4.19.	Maintenance of Listing	66
	 	 
	ARTICLE V 

SUCCESSORS	 
	 	 
	Section 5.1.	Consolidation, Merger, Conveyance, Transfer or Lease	66
	 	 
	ARTICLE VI 

DEFAULTS AND REMEDIES	 
	 	 
	Section 6.1.	Events of Default	68
	Section 6.2.	Acceleration	70
	Section 6.3.	Other Remedies	70
	Section 6.4.	Waiver of Past Defaults	70
	Section 6.5.	Control by Majority	70
	Section 6.6.	Limitation on Suits	71
	Section 6.7.	Rights of Holders of Notes to Receive Payment	71
	Section 6.8.	Collection Suit by Trustee	71
	Section 6.9.	Trustee May File Proofs of Claim	71
	Section 6.10.	Priorities	72
	Section 6.11.	Undertaking for Costs	72
	 	 
	ARTICLE VII 

TRUSTEE	 
	 	 
	Section 7.1.	Duties of Trustee	72
	Section 7.2.	Rights of Trustee	73
	Section 7.3.	Individual Rights of the Trustee	75
	Section 7.4.	Trustee’s Disclaimer	75
	Section 7.5.	Notice of Defaults	75
	Section 7.6.	Compensation and Indemnity	75
	Section 7.7.	Replacement of Trustee	76
	Section 7.8.	Successor Trustee by Merger, Etc	77
	Section 7.9.	Eligibility; Disqualification	77
	 	 
	ARTICLE VIII 

DEFEASANCE; DISCHARGE OF THIS INDENTURE	 
	 	 
	Section 8.1.	Option to Effect Legal Defeasance or Covenant Defeasance	77
	Section 8.2.	Legal Defeasance	77
	Section 8.3.	Covenant Defeasance	78
	Section 8.4.	Conditions to Legal or Covenant Defeasance	78

 

    	 	ii	 

     

    

  

	Section 8.5.	Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions	79
	Section 8.6.	Repayment to Issuer	79
	Section 8.7.	Reinstatement	80
	Section 8.8.	Discharge	80
	 	 
	ARTICLE IX 

AMENDMENT, SUPPLEMENT AND WAIVER	 
	 	 
	Section 9.1.	Without Consent of Holders of the Notes	81
	Section 9.2.	With Consent of Holders of Notes	82
	Section 9.3.	Revocation and Effect of Consents	83
	Section 9.4.	Notation on or Exchange of Notes	83
	Section 9.5.	Trustee to Sign Amendments, Etc	83
	 	 
	ARTICLE X 

GUARANTEES	 
	 	 
	Section 10.1.	Guarantees	83
	Section 10.2.	Execution and Delivery of Guarantee	84
	Section 10.3.	Severability	85
	Section 10.4.	Limitation of Guarantors’ Liability	85
	Section 10.5.	Releases	85
	Section 10.6.	Benefits Acknowledged	86
	Section 10.7.	Foreign Limitations	86
	 	 
	ARTICLE XI 

MISCELLANEOUS	 
	 	 
	Section 11.1.	Concerning the Trust Indenture	87
	Section 11.2.	Notices	87
	Section 11.3.	Certificate and Opinion as to Conditions Precedent	88
	Section 11.4.	Statements Required in Certificate or Opinion	88
	Section 11.5.	Rules by Trustee and Agents	88
	Section 11.6.	No Personal Liability of Directors, Officers, Employees and Stockholders	89
	Section 11.7.	Governing Law; Consent to Jurisdiction	89
	Section 11.8.	No Adverse Interpretation of Other Agreements	89
	Section 11.9.	Successors	89
	Section 11.10.	Severability	89
	Section 11.11.	Execution in Counterparts	89
	Section 11.12.	Table of Contents, Headings, Etc	89
	Section 11.13.	Acts of Holders	89
	Section 11.14.	Force Majeure	90
	Section 11.15.	Legal Holidays	91
	Section 11.16.	USA PATRIOT Act	91
	Section 11.17.	Waiver of Jury Trial	91

 

Exhibits

 

	Exhibit A	Form of Note
	Exhibit B	Form of Supplemental Indenture to be Delivered by Subsequent Guarantors
	Exhibit C	Form of Certificate to be Delivered in Connection with Transfers Pursuant to Rule 144A
	Exhibit D	Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S
	Exhibit E	Form of Certificate to be Delivered in Connection with Transfers to an IAI

 

    	 	iii	 

     

    

 

This Indenture, dated
as of January 29, 2021, is by and among TechnipFMC plc, a public limited company incorporated under the laws of England and Wales
(as more fully defined herein, the “Issuer”), the Guarantors listed on the signature pages hereto, and U.S.
Bank National Association, as trustee (the “Trustee”), paying agent and registrar.

 

The Issuer, the Guarantors
and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined
herein) of (i) the Issuer’s 6.500% Senior Notes due 2026 issued on the date hereof (the “Initial Notes”)
and (ii) Additional Notes (as defined herein):

 

ARTICLE
I

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.1.     Definitions.

 

“Acquired
Indebtedness” means:

 

(1)       with
respect to any Person that becomes a Restricted Subsidiary after the Issue Date, Indebtedness of such Person and its Subsidiaries
(including, for the avoidance of doubt, Indebtedness incurred in the ordinary course of such Person’s business to acquire
assets used or useful in its business) existing at the time such Person becomes a Restricted Subsidiary; and

 

(2)       with
respect to the Issuer or any Restricted Subsidiary, any Indebtedness of a Person (including, for the avoidance of doubt, Indebtedness
incurred in the ordinary course of such Person’s business to acquire assets used or useful in its business), other than the
Issuer or a Restricted Subsidiary, existing at the time such Person is merged with or into the Issuer or a Restricted Subsidiary,
or Indebtedness expressly assumed by the Issuer or any Restricted Subsidiary in connection with the acquisition of an asset or
assets from another Person.

 

“Additional
Notes” means Notes (other than the Initial Notes) issued pursuant to Article II and otherwise in compliance with
the provisions of this Indenture whether or not they bear the same CUSIP number.

 

“Affiliate”
of any Person means any other Person which directly or indirectly controls or is controlled by, or is under direct or indirect
common control with, the referent Person. For purposes of this definition, “control” of a Person shall mean the power
to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
by contract or otherwise.

 

“Agent”
means any Registrar, Paying Agent, co-registrar or other agent appointed pursuant to this Indenture.

 

“amend”
means to amend, supplement, restate, amend and restate or otherwise modify, including successively, and “amendment”
shall have a correlative meaning.

 

“Applicable
Premium” means, with respect to any Note on any applicable redemption date, the greater of:

 

(1)          1.0%
of the principal amount of such Note; and

 

(2)          the
excess, if any, of:

 

     

     

    

  

(a)       the
present value at such redemption date of (i) the redemption price of such Note at February 1, 2023 (such redemption price being
set forth in the table appearing in Section 3.7(b)) plus (ii) all required interest payments (in each case excluding accrued
and unpaid interest to such redemption date) due on such Note through February 1, 2023, computed using a discount rate equal to
the Treasury Rate as of such redemption date plus 50 basis points discounted to the redemption date on a semi-annual basis (assuming
a 360-day year consisting of twelve 30-day months); over

 

(b)       the
principal amount of such Note.

 

“Applicable
Measurement Period” means the most recently ended Four-Quarter Period.

 

“asset”
means any asset or property, including, without limitation, Equity Interests.

 

“Asset Acquisition”
means:

 

(1)          an
Investment by the Issuer or any Restricted Subsidiary of the Issuer in any other Person if, as a result of such Investment, such
Person shall become a Restricted Subsidiary of the Issuer, or shall be merged with or into the Issuer or any Restricted Subsidiary
of the Issuer, or

 

(2)          the
acquisition by the Issuer or any Restricted Subsidiary of the Issuer of all or substantially all of the assets of any other Person
(other than a Restricted Subsidiary of the Issuer) or any division or line of business of any such other Person (other than in
the ordinary course of business).

 

“Asset Sale”
means:

 

(1)          any
sale, conveyance, transfer, lease, license, assignment or other disposition by the Issuer or any Restricted Subsidiary to any Person
other than the Issuer or any Restricted Subsidiary (including by means of a sale and leaseback transaction or a merger or consolidation),
in one transaction or a series of related transactions, of any assets of the Issuer or any of its Restricted Subsidiaries, including
without limitation, Equity Interests in any Person, other than in the ordinary course of business; or

 

(2)         any
issuance of Equity Interests of a Restricted Subsidiary (other than Preferred Stock of Restricted Subsidiaries issued in compliance
with Section 4.9) to any Person other than the Issuer or any Restricted Subsidiary in one transaction or a series of related
transactions (the actions described in these clauses (1) and (2), collectively, for purposes of this definition,
a “transfer”).

 

For purposes of this
definition, the term “Asset Sale” shall not include:

 

(a)       transfers
of cash or Cash Equivalents;

 

(b)       transfers
of assets (including Equity Interests) that are governed by, and made in accordance with, Section 4.13 or Section 5.1;

 

(c)       Permitted
Investments and Restricted Payments permitted under Section 4.7;

 

(d)       the
creation of or realization on any Lien not prohibited under this Indenture and any disposition of assets resulting from the enforcement
or foreclosure of any such Lien;

 

(e)       transfers
of damaged, worn-out or obsolete equipment or assets that, in the Issuer’s reasonable judgment, are no longer used or useful
in the business of the Issuer or its Restricted Subsidiaries;

 

    	 	2	 

     

    

  

(f)       sales
or grants of licenses or sublicenses to use the patents, trade secrets, know-how and other Intellectual Property, and licenses,
leases or subleases of other assets, of the Issuer or any Restricted Subsidiary to the extent not materially interfering with the
business of the Issuer and the Restricted Subsidiaries;

 

(g)      a
disposition of inventory in the ordinary course of business;

 

(h)      a
disposition of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business
or in bankruptcy or similar proceedings and exclusive of factoring and similar arrangements;

 

(i)       the
trade or exchange by the Issuer or any Restricted Subsidiary of any asset for any other asset or assets that are used in a Permitted
Business; provided, that the Fair Market Value of the asset or assets received by the Issuer or any Restricted Subsidiary
in such trade or exchange (including any cash or Cash Equivalents) is at least equal to the Fair Market Value (as determined in
good faith by the Board of Directors or an executive officer of the Issuer or of such Restricted Subsidiary with responsibility
for such transaction, which determination shall be conclusive evidence of compliance with this provision) of the asset or assets
disposed of by the Issuer or any Restricted Subsidiary pursuant to such trade or exchange; and, provided, further,
that if any cash or Cash Equivalents are used in such trade or exchange to achieve an exchange of equivalent value, that the amount
of such cash and/or Cash Equivalents received shall be deemed proceeds of an “Asset Sale,” subject to clause (o)
below;

 

(j)       dispositions
of Investments in joint ventures to the extent required by, or made pursuant to, customary buy/sell arrangements between joint
venture parties set forth in, joint venture agreements or any similar binding arrangements;

 

(k)      the
disposition of workover rigs and other assets used primarily in the Production Solutions segment of the Issuer’s and its
Restricted Subsidiaries’ business;

 

(l)       the
disposition of assets received in settlement of debts accrued in the ordinary course of business;

 

(m)     (a)
the surrender or waiver in the ordinary course of business of contract rights or the settlement, release or surrender of contractual,
non-contractual or other claims of any kind and (b) any dispositions of property or assets effected as part of a closure or buyout
of a pension or other defined benefit plan or in furtherance of a recovery plan in support of any such pension or other defined
benefit plan;

 

(n)     dispositions
of Equity Interests in or Indebtedness of an Unrestricted Subsidiary (other than, for the avoidance of doubt, disposition of Equity
Interests in the Technip Energies Group following the Effective Date);

 

(o)      any
transfer or series of related transfers that, but for this clause (o), would be Asset Sales, if after giving effect to such
transfers, the aggregate Fair Market Value of the assets transferred in such transaction or any such series of related transactions
does not exceed $50.0 million per occurrence; and

 

(p)      any
of the Spinoff Transactions.

 

    	 	3	 

     

    

  

“Bankruptcy
Law” means Title 11, U.S. Code or any similar federal, state or foreign law for the relief of debtors, and all other
liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency,
reorganization, winding-up, restructuring, examinership or similar debtor relief laws.

 

“Beneficial
Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating
the Beneficial Ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
such “person” will be deemed to have Beneficial Ownership of all securities that such “person” has the
right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding
meaning. For purposes of this definition, a Person shall be deemed not to Beneficially Own securities that are the subject of a
stock, unit or asset purchase agreement, merger agreement or similar agreement (or voting or option or similar agreement related
thereto) until consummation of the transactions or, as applicable, series of related transactions contemplated by such agreement.

 

“Board of
Directors” means, with respect to any Person, (i) in the case of any corporation, the board of directors of such Person
and (ii) in any other case, the functional equivalent of the foregoing or, in each case, any duly authorized committee of such
body.

 

“Business
Day” means a day other than a Saturday, Sunday or other day on which banking institutions in the State of New York or
London, England are authorized or required by law to close.

 

“Capitalized
Lease” means a lease required to be capitalized on a balance sheet (excluding the footnotes thereto) prepared in accordance
with GAAP. Notwithstanding the foregoing, any lease (whether entered into before or after the Issue Date) that would have been
classified as an operating lease pursuant to GAAP as in effect and applicable to the Issuer on the Issue Date shall be deemed not
to be a Capitalized Lease.

 

“Capitalized
Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under a Capitalized
Lease, and the amount of such obligation shall be the capitalized amount thereof determined in accordance with GAAP, excluding
liabilities resulting from a change in GAAP subsequent to the date of this Indenture, and the Stated Maturity thereof shall be
the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may
be prepaid by the lessee without payment of a penalty.

 

“Cash Equivalents”
means:

 

(1)       marketable
obligations issued or directly and fully guaranteed or insured by the governments of the United States, the United Kingdom, any
member state of the European Union, Canada, Japan, Singapore, Australia or New Zealand or, in each case, any agency or instrumentality
thereof (provided that the full faith and credit of such government is pledged in support thereof), maturing within one
year of the date of acquisition thereof;

 

(2)       demand
and time deposits and certificates of deposit of any lender under any Debt Facility or any Eligible Bank organized under the laws
of the United States, any state thereof or the District of Columbia or a U.S. branch of any other Eligible Bank maturing within
one year of the date of acquisition thereof;

 

(3)       commercial
paper issued by any Person incorporated in the United States rated at least A1 or the equivalent thereof by S&P or at least
P-1 or the equivalent thereof by Moody’s or an equivalent rating by a nationally recognized rating agency if both S&P
and Moody’s cease publishing ratings of commercial paper issuers generally, and in each case maturing not more than one year
after the date of acquisition thereof;

 

    	 	4	 

     

    

  

(4)       repurchase
obligations with a term of not more than one year for underlying securities of the types described in clause (1) above entered
into with any Eligible Bank and maturing not more than one year after such time;

 

(5)       securities
issued and fully guaranteed by any state, commonwealth or territory of the United States, the United Kingdom, any member state
of the European Union or Canada, Japan, Singapore, Australia or New Zealand or by any political subdivision or taxing authority
thereof, rated at least A by Moody’s or S&P and having maturities of not more than one year from the date of acquisition;

 

(6)       investments
in money market or other mutual funds substantially all of whose assets comprise securities of the types described in clauses
(1) through (5) above;

 

(7)       demand
deposit accounts maintained in the ordinary course of business; and

 

(8)       in
the case of any Subsidiary of the Issuer organized or having its principal place of business outside the United States, investments
denominated in the currency of the jurisdiction in which such Subsidiary is organized or has its principal place of business which
are similar to the items specified in clauses (1) through (7) above.

 

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

 

(1)       the
direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the properties or assets of the Issuer and its Restricted Subsidiaries,
taken as a whole, to any “person” or “group” (as such terms are used in Section 13(d) of the Exchange Act);

 

(2)       the
adoption of a plan relating to the liquidation or dissolution of the Issuer;

 

(3)       the
consummation of any transaction (including, without limitation, any merger or consolidation), the result of which is that any “person”
or “group” becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of the Issuer,
measured by voting power rather than number of shares; or

 

(4)       the
Issuer consolidates with or merges with or into, any person, or any person consolidates with or merges with or into, the Issuer,
in any such event pursuant to a transaction in which any of the Issuer’s outstanding Voting Stock or of such other person
is converted into or exchanged for cash, securities or other property;

 

provided, however,
that the Spinoff Transactions shall not constitute a Change of Control under any of the preceding clauses (1) through (4) of this
definition.

 

For purposes of this
definition, a Person shall not be deemed to have Beneficial Ownership of securities subject to a stock purchase agreement, merger
agreement or similar agreement until the consummation of the transactions contemplated by such agreement.

 

“Change of
Control Triggering Event” means the occurrence of both a Change of Control and a Rating Decline with respect to the Notes.

 

    	 	5	 

     

    

  

“Common Stock”
means with respect to any Person, any and all shares, interest or other participations in, and other equivalents (however designated
and whether voting or nonvoting) of such Person’s common stock whether or not outstanding on the Issue Date, and includes,
without limitation, all series and classes of such common stock.

 

“Consolidated
Amortization Expense” for any period means the amortization expense of the relevant Person and its Restricted Subsidiaries
for such period, determined on a consolidated basis in accordance with GAAP.

 

“Consolidated
Cash Flow” for any period means, with respect to any specified Person and its Restricted Subsidiaries, without duplication,
the sum of the amounts for such period of:

 

(1)          Consolidated
Net Income, plus

 

(2)          without
duplication, the amount of net cost savings, operating expense reductions and synergies projected by the Issuer in good faith to
be realized as a result of specified actions taken or to be taken (which cost savings, operating expense reductions or synergies
shall be calculated on a pro forma basis as though such cost savings, operating expense reductions or synergies had been realized
on the first day of such period), net of the amount of actual benefits realized during such period from such actions; provided
that (A) such cost savings, operating expense reductions or synergies are reasonably identifiable and factually supportable, (B)
such actions have been taken or are to be taken within 18 months after the date of determination to take such action and (C) the
aggregate amounts added to Consolidated Cash Flow pursuant to this clause (2) in any such period shall not exceed 15% of Consolidated
Cash Flow for such period (calculated before giving effect to the adjustment set forth in this clause (2)), plus

 

(3)           in
each case only to the extent deducted in determining Consolidated Net Income,

 

(a)       Consolidated
Income Tax Expense,

 

(b)       Consolidated
Amortization Expense,

 

(c)       Consolidated
Depreciation Expense,

 

(d)       Consolidated
Interest Expense, and

 

(e)       all
other non-cash items reducing the Consolidated Net Income (excluding any non-cash charge that results in an accrual of a reserve
for cash charges in any future period) for such period, minus

 

(4)          the
aggregate amount of all non-cash items, determined on a consolidated basis, to the extent such items increased Consolidated Net
Income for such period (other than accrual of revenue in the ordinary course or any non-cash items to the extent they represent
the reversal of an accrual of a reserve for a potential cash item that reduced Consolidated Cash Flow in any prior period).

 

“Consolidated
Depreciation Expense” for any period means the depreciation expense of the relevant Person and its Restricted Subsidiaries
for such period, determined on a consolidated basis in accordance with GAAP.

 

“Consolidated
Income Tax Expense” for any period means the provision for taxes of the relevant Person and its Restricted Subsidiaries,
determined on a consolidated basis in accordance with GAAP.

 

    	 	6	 

     

    

  

“Consolidated
Interest Coverage Ratio” means, on any date of determination, with respect to any Person, the ratio of (x) Consolidated
Cash Flow during the most recent four consecutive full fiscal quarters for which financial statements prepared on a consolidated
basis in accordance with GAAP are available (the “Four-Quarter Period”) ending on or prior to the date of the
transaction giving rise to the need to calculate the Consolidated Interest Coverage Ratio (the “Transaction Date”)
to (y) Consolidated Interest Expense for the Four-Quarter Period. For purposes of this definition, Consolidated Cash Flow and Consolidated
Interest Expense shall be calculated after giving effect on a pro forma basis for the period of such calculation to:

 

(1)          the
incurrence of any Indebtedness or the issuance of any Disqualified Equity Interests of the Issuer or Disqualified Equity Interests
or Preferred Stock of any Restricted Subsidiary (and the application of the proceeds thereof) and any repayment, repurchase or
redemption of other Indebtedness or other Disqualified Equity Interests or Preferred Stock (and the application of the proceeds
therefrom) (other than the incurrence or repayment of Indebtedness in the ordinary course of business for working capital purposes
pursuant to any revolving credit arrangement) occurring during the Four-Quarter Period or at any time subsequent to the last day
of the Four-Quarter Period and on or prior to the Transaction Date (subject to the proviso below), as if such incurrence, repayment,
repurchase, issuance or redemption, as the case may be (and the application of the proceeds thereof), occurred on the first day
of the Four-Quarter Period; provided, however, that the pro forma calculation shall not give effect to any Indebtedness
incurred on the Transaction Date pursuant to the provisions described in Section 4.9(b) and Section 4.9(g), other
than those provisions that are based on a ratio; and

 

(2)          any
Asset Sale or Asset Acquisition (including, without limitation, any Asset Acquisition giving rise to the need to make such calculation
as a result of the Issuer or any Restricted Subsidiary (including any Person who becomes a Restricted Subsidiary as a result of
such Asset Acquisition) incurring Acquired Indebtedness and also including any Consolidated Cash Flow (including any pro forma
expense and cost reductions that have occurred or are reasonably expected to occur within the next 12 months)) in each case occurring
during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction
Date, as if such Asset Sale or Asset Acquisition (including the incurrence of, or assumption or liability for, any such Indebtedness
or Acquired Indebtedness) occurred on the first day of the Four-Quarter Period; provided, that such pro forma calculations
shall be determined in good faith by a Responsible Financial or Accounting Officer of the Issuer whether or not such pro forma
adjustments would be permitted under SEC rules or guidelines.

 

In calculating Consolidated
Interest Expense for purposes of this Consolidated Interest Coverage Ratio:

 

(a)       interest
on outstanding Indebtedness determined on a fluctuating basis as of the Transaction Date and which will continue to be so determined
thereafter shall be deemed to have accrued at a fixed rate per annum equal to the rate of interest on such Indebtedness in effect
on the Transaction Date;

 

(b)       if
interest on any Indebtedness actually incurred on the Transaction Date 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 rates, then the interest rate in effect on
the Transaction Date will be deemed to have been in effect during the Four-Quarter Period; and

 

(c)       notwithstanding
clause (a) or (b) above, interest on Indebtedness determined on a fluctuating basis, to the extent such interest
is covered by agreements relating to Hedging Obligations, shall be deemed to accrue at the rate per annum resulting after giving
effect to the operation of such agreements.

 

    	 	7	 

     

    

  

“Consolidated
Interest Expense” for any period means the sum, without duplication, of the total interest expense of the relevant Person
and its Restricted Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP, including, without
duplication:

 

(1)          imputed
interest on Capitalized Lease Obligations;

 

(2)          commissions,
discounts and other fees and charges owed with respect to letters of credit securing financial obligations, bankers’ acceptance
financing and receivables financings;

 

(3)          the
net costs associated with Hedging Obligations related to interest rates;

 

(4)          amortization
of debt issuance costs, debt discount or premium and other financing fees and expenses;

 

(5)          the
interest portion of any deferred payment obligations;

 

(6)          all
other non-cash interest expense;

 

(7)          capitalized
interest;

 

(8)          all
dividend payments on any series of Disqualified Equity Interests of the Issuer or any of its Restricted Subsidiaries or any Preferred
Stock of any Restricted Subsidiary (other than dividends on Equity Interests to the extent payable in Qualified Equity Interests
of the Issuer or to the Issuer or a Restricted Subsidiary of the Issuer);

 

(9)          all
interest payable with respect to discontinued operations; and

 

(10)        all
interest on any Indebtedness described in clause (7) or (8) of the definition of Indebtedness.

 

Notwithstanding the
foregoing, the interest component of any lease that is not a Capitalized Lease will not be included in Consolidated Interest Expense.

 

“Consolidated
Net Income” for any period means the net income (or loss) of such Person and its Restricted Subsidiaries, in each case
for such period determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded in calculating
such net income (or loss), to the extent otherwise included therein, without duplication:

 

(1)          the
net income (or loss) of any Person (other than a Restricted Subsidiary) in which any Person other than the Issuer and the Restricted
Subsidiaries has an ownership interest, except to the extent that cash in an amount equal to any such income has actually been
received by the Issuer or any of its Restricted Subsidiaries during such period; provided that, with respect to any Specified
Joint Venture, any cash received by the Issuer or any of its Restricted Subsidiaries during such period shall be excluded in calculating
such net income (or loss) of the Issuer or any such Restricted Subsidiary to the extent that any Specified Joint Venture Indebtedness
that is guaranteed or otherwise incurred by the Issuer or any Restricted Subsidiary is outstanding in respect of such Specified
Joint Venture and is not consolidated on the balance sheet of the Issuer and its Restricted Subsidiaries;

 

(2)          except
to the extent includible in the net income (or loss) of the Issuer pursuant to the foregoing clause (1), the net income
(or loss) of any Person that accrued prior to the date that (a) such Person becomes a Restricted Subsidiary or is merged into or
consolidated with the Issuer or any Restricted Subsidiary or (b) the assets of such Person are acquired by the Issuer or any Restricted
Subsidiary;

 

    	 	8	 

     

    

  

(3)          the
net income of any Restricted Subsidiary other than a Guarantor during such period to the extent that the declaration or payment
of dividends or similar distributions by such Restricted Subsidiary of that income is not permitted by operation of the terms of
its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that
Subsidiary during such period, unless such restriction with respect to the payment of dividends has been legally waived;

 

(4)          gains
or losses attributable to discontinued operations;

 

(5)          any
gain (or loss), together with any related provisions for taxes on any such gain (or the tax effect of any such loss), realized
during such period by the Issuer or any Restricted Subsidiary upon any Asset Sale by the Issuer or any Restricted Subsidiary;

 

(6)          gains
and losses due solely to fluctuations in currency values and the related tax effects according to GAAP;

 

(7)          unrealized
gains and losses with respect to Hedging Obligations;

 

(8)          the
cumulative effect of any change in accounting principles or policies;

 

(9)          [reserved];

 

(10)        (A)
any costs, expenses or charges (including advisory, legal and professional fees) related to any issuance of debt or equity, investments,
acquisition, disposition, recapitalization or incurrence, amendment, waiver, modification, extinguishment or refinancing of any
Indebtedness, whether or not consummated, including such fees, expenses or charges related to the offering of the Notes and any
Debt Facilities, (B) any costs, expenses or charges relating to the Transactions, and (C) legal settlement expenses;

 

(11)       non-cash
charges or expenses with respect to the grant of stock options, restricted stock or other equity compensation awards and the non-cash
interest expense with respect to the equity component of any convertible or exchangeable debt security; and

 

(12)       goodwill
write-downs or other non-cash impairments of assets.

 

“Consolidated
Total Assets” means, with respect to any Person as of any date, the amount which, in accordance with GAAP, would be set
forth under the caption “Total Assets” (or any like caption) on a consolidated balance sheet of such Person and its
Restricted Subsidiaries determined in accordance with GAAP.

 

“Consolidated
Total Debt Ratio” means, as of any date of determination, the ratio of (1) (i) Consolidated Total Indebtedness of the
Issuer and its Restricted Subsidiaries minus (ii) unrestricted cash and Cash Equivalents in an amount not to exceed $150.0 million
of the Issuer and its Restricted Subsidiaries, in each case, as of the end of the most recent fiscal period for which internal
financial statements are available (as determined in good faith by the Issuer) immediately preceding the date of determination
to (2) Consolidated Cash Flow of the Issuer for the Applicable Measurement Period, with such pro forma adjustments to Consolidated
Total Indebtedness, Cash Equivalents and Consolidated Cash Flow as are appropriate and consistent with the pro forma adjustment
provisions set forth in the definition of “Consolidated Interest Coverage Ratio.”

 

    	 	9	 

     

    

  

“Consolidated
Total Indebtedness” means, as at any date of determination, an amount equal to the sum of (1) the aggregate amount of
all outstanding Indebtedness of the Issuer and its Restricted Subsidiaries on a consolidated basis consisting of Indebtedness for
borrowed money, Obligations in respect of Capitalized Lease Obligations and debt obligations evidenced by bonds, notes, debentures
or similar instruments or letters of credit or bankers’ acceptances (and excluding Hedging Obligations) and (2) the aggregate
amount of all outstanding Disqualified Equity Interests of the Issuer and the Restricted Subsidiaries and (without double-counting)
all preferred stock of Restricted Subsidiaries that are not the Issuer or Guarantors, with the amount of such Disqualified Equity
Interests and preferred stock equal to the greater of their respective voluntary or involuntary liquidation preferences and their
maximum mandatory redemption or repurchase price, in each case, determined on a consolidated basis in accordance with GAAP. For
purposes hereof, the “maximum mandatory redemption or repurchase price” of any Disqualified Equity Interests that do
not have a fixed redemption or repurchase price shall be calculated in accordance with the terms of such Disqualified Equity Interests
as if such Disqualified Equity Interests were redeemed or repurchased on any date on which an amount of Indebtedness outstanding
shall be required to be determined pursuant to this Indenture.

 

“Corporate
Trust Office” means the offices of the Trustee at which at any time its corporate trust business shall be principally
administered, which office as of the date hereof is located at 13737 Noel Rd Suite 800, Dallas, TX 75240, Attention: Global Corporate
Trust, or such other address as the Trustee may designate from time to time by notice to the Holders and the Issuer, or the corporate
trust office of any successor trustee (or such other address as such successor trustee may designate from time to time by notice
to the Holders and the Issuer).

 

“Customary
Recourse Exceptions” means, with respect to any Non-Recourse Debt of an Unrestricted Subsidiary, exclusions from the
exculpation provisions with respect to such Non-Recourse Debt for the voluntary bankruptcy of such Unrestricted Subsidiary, fraud,
misapplication of cash, environmental claims, waste, willful destruction and other circumstances customarily excluded by lenders
from exculpation provisions or included in separate indemnification agreements in non-recourse financings.

 

“Debt Facilities”
means one or more debt facilities or indentures (which may be outstanding at the same time and including, without limitation, the
RCF Credit Agreement) providing for revolving credit loans, debt securities, term loans, receivables financing or letters of credit
and, in each case, as such agreements may be amended, refinanced, restated, refunded or otherwise restructured, in whole or in
part from time to time (including increasing the amount of available borrowings thereunder or adding Subsidiaries of the Issuer
as additional borrowers or guarantors thereunder) with respect to all or any portion of the Indebtedness under such agreement or
agreements or any successor or replacement agreement or agreements and whether by the same or any other agent, lender, group of
lenders or institutional lenders or investors.

 

“Default”
means (1) any Event of Default or (2) any event, act or condition that, after notice or the passage of time or both, would be an
Event of Default.

 

“Designated
Non-cash Consideration” means the Fair Market Value of non-cash consideration received by the Issuer or a Restricted
Subsidiary of the Issuer in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to
an Officers’ Certificate, setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received
in connection with a subsequent sale of or collection on such Designated Non-cash Consideration.

 

“Depositary”
means with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.3
hereof as the Depositary with respect to the Global Notes, and any and all successors thereto appointed as depositary hereunder
and having become such pursuant to the applicable provision of this Indenture.

 

    	 	10	 

     

    

  

“Disqualified
Equity Interests” of any Person means any class of Equity Interests of such Person that, by its terms, or by the terms
of any related agreement or of any security into which it is convertible, puttable or exchangeable (in each case, at the option
of the holder thereof), is, or upon the happening of any event or the passage of time would be, required to be redeemed by such
Person, at the option of the holder thereof, or matures or is mandatorily redeemable, pursuant to a sinking fund obligation or
otherwise, in whole or in part, on or prior to the date which is 91 days after the Stated Maturity of the Notes; provided,
however, that any class of Equity Interests of such Person that, by its terms, authorizes such Person to satisfy in full
its obligations with respect to the payment of dividends or upon maturity, redemption (pursuant to a sinking fund or otherwise)
or repurchase thereof or otherwise by the delivery of Equity Interests that are not Disqualified Equity Interests, and that is
not convertible, puttable or exchangeable for Disqualified Equity Interests or Indebtedness, will not be deemed to be Disqualified
Equity Interests so long as such Person satisfies its obligations with respect thereto solely by the delivery of Equity Interests
that are not Disqualified Equity Interests; provided, further, however, that any Equity Interests that would
not constitute Disqualified Equity Interests but for provisions thereof giving holders thereof (or the holders of any security
into or for which such Equity Interests are convertible, exchangeable or exercisable) the right to require the Issuer to repurchase
or redeem such Equity Interests upon the occurrence of a change in control or an Asset Sale occurring prior to the 91st day after
the Stated Maturity of the Notes shall not constitute Disqualified Equity Interests if the change of control or asset sale provisions
applicable to such Equity Interests are no more favorable to such holders than Section 4.13 and Section 4.10, respectively,
and such Equity Interests specifically provide that the Issuer will not repurchase or redeem any such Equity Interests pursuant
to such provisions prior to the Issuer’s purchase of the Notes as required pursuant to Section 4.13 and Section
4.10, respectively.

 

“Dofcon Brasil”
means a joint venture arrangement between (i) Technip Coflexip Norge AS, a Subsidiary of the Issuer as of the Issue Date and (ii)
Dof ASA.

 

“Dofcon Navegação”
means Dofcon Navegação Ltda., a Brazilian joint venture arrangement owned by (i) Dofcon Brasil and (ii) Technip Offshore
International SAS, a Subsidiary of the Issuer as of the Issue Date, which holds the vessels Skandi Vitoria, Skandi Niteroi, Skandi
Recife and Skandi Olinda as of the Issue Date.

 

“dollars”,
“U.S. dollars” or “$” means lawful money of the United States.

 

“DTC”
means The Depository Trust Company and any successor.

 

“Effective
Date” means the date on which the Spinoff Transactions are consummated.

 

“Eligible
Bank” means any commercial bank having, or which is the principal banking subsidiary of a bank holding company having,
capital and surplus aggregating in excess of $250.0 million (or in the equivalent thereof in a foreign currency as of the date
of determination) and a rating of “A” (or such other similar equivalent rating) or higher by at least one nationally
recognized statistical rating organization.

 

“Equity Interests”
of any Person means (1) any and all shares or other equity interests (including Common Stock, Preferred Stock, limited liability
company interests, trust units and partnership interests) in such Person and (2) all rights to purchase, warrants or options (whether
or not currently exercisable), participations or other equivalents of or interests in (however designated) such shares or other
interests in such Person, but excluding from all of the foregoing any debt securities convertible into Equity Interests, regardless
of whether such debt securities include any right of participation with Equity Interests.

 

    	 	11	 

     

    

  

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

 

“Fair Market
Value” means, with respect to any asset, the price (after taking into account any liabilities relating to such asset)
that would be negotiated in an arm’s-length transaction for cash between a willing seller and a willing and able buyer, neither
of which is under any compulsion to complete the transaction as such price is determined in good faith by management of the Issuer.

 

“GAAP”
means generally accepted accounting principles in the United States, which are in effect from time to time.

 

“Global Note
Legend” means the legend identified as such in Exhibit A.

 

“Global Notes”
means the Notes that are in the form of Exhibit A issued in global form and registered in the name of the Depositary or
its nominee.

 

“guarantee”
means a direct or indirect guarantee by any Person of any Indebtedness of any other Person and includes any obligation, direct
or indirect, contingent or otherwise, of such Person entered into for purposes of assuring in any other manner the obligee of such
Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); “guarantee,”
when used as a verb, and “guaranteed” have correlative meanings.

 

“Guarantee”
means, individually, any guarantee of payment of the Notes by a Guarantor pursuant to the terms of this Indenture and any supplemental
indenture hereto, and, collectively, all such guarantees.

 

“Guarantors”
means each Restricted Subsidiary of the Issuer on the Issue Date that is a party to this Indenture for purposes of providing a
Guarantee with respect to the Notes, and each other Person that is required to, or at the election of the Issuer, does become a
Guarantor by the terms of this Indenture after the Issue Date, in each case, until such Person is released from its Guarantee in
accordance with the terms of this Indenture.

 

“Hedging Obligations”
of any Person means the obligations of such Person under option, swap, cap, collar, forward purchase or similar agreements or arrangements
intended to manage exposure to interest rates or currency exchange rates or commodity prices (including, without limitation, for
purposes of this definition, rates for electrical power used in the ordinary course of business), either generally or under specific
contingencies.

 

“Holder”
means any registered holder, from time to time, of the Notes.

 

“IAI” means an institution
that is an “accredited investor” within the meaning of Rule 501(a) under the Securities Act and is not a QIB.

 

“incur”
means, with respect to any Indebtedness or Obligation, incur, create, issue, assume, guarantee or otherwise become directly or
indirectly liable, contingently or otherwise, with respect to such Indebtedness or Obligation; provided that (1) the Indebtedness
of a Person existing at the time such Person becomes a Restricted Subsidiary of the Issuer shall be deemed to have been incurred
by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary of the Issuer and (2) neither the accrual of interest
nor the accretion of original issue discount or the accretion or accumulation of dividends on any Equity Interests shall be deemed
to be an incurrence of Indebtedness.

 

    	 	12	 

     

    

  

“Indebtedness”
of any Person at any date means, without duplication:

 

(1)       all
liabilities, contingent or otherwise, of such Person for borrowed money (whether or not the recourse of the lender is to the whole
of the assets of such Person or only to a portion thereof);

 

(2)       all
obligations of such Person evidenced by bonds, debentures, bankers’ acceptances, notes or other similar instruments;

 

(3)       all
reimbursement obligations of such Person in respect of letters of credit, letters of guaranty and similar credit transactions;

 

(4)       all
obligations of such Person to pay the deferred and unpaid purchase price of property or services, except deferred compensation,
trade payables and accrued expenses incurred by such Person in the ordinary course of business in connection with obtaining goods,
materials or services and not overdue by more than 180 days unless subject to a bona fide dispute;

 

(5)       the
greater of the maximum mandatory redemption or repurchase price (not including, in either case, any redemption or repurchase premium)
or the principal component or liquidation preference of all obligations of such Person with respect to the redemption, repayment
or other repurchase of any Disqualified Equity Interests or, with respect to any Restricted Subsidiary that is not a Guarantor,
any Preferred Stock (but excluding, in each case, any accrued dividends);

 

(6)       all
Capitalized Lease Obligations of such Person (but not any lease that is not a Capitalized Lease Obligation);

 

(7)       all
Indebtedness of others secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person;

 

(8)       all
Indebtedness of others guaranteed by such Person to the extent of such guarantee; provided that Indebtedness of the Issuer
or its Subsidiaries that is guaranteed by the Issuer or the Issuer’s Subsidiaries shall only be counted once in the calculation
of the amount of Indebtedness of the Issuer and its Subsidiaries on a consolidated basis; provided, however, that
guarantees outstanding on the Issue Date by the Issuer or any Restricted Subsidiary of Specified Joint Venture Indebtedness outstanding
on the Issue Date shall not be deemed to be Indebtedness of the Issuer or such Restricted Subsidiary; provided, further,
that if the Issuer or such Restricted Subsidiary shall be required to consolidate such Specified Joint Venture Indebtedness on
its balance sheet then such guarantee shall be deemed to be Indebtedness of the Issuer or such Restricted Subsidiary, as the case
may be, as of such date;

 

(9)       to
the extent not otherwise included in this definition, net Hedging Obligations of such Person; and

 

(10)     all
obligations of such Person under conditional sale or other title retention agreements relating to assets purchased by such Person.

 

The amount of any Indebtedness which is
incurred at a discount to the principal amount at maturity thereof as of any date shall be deemed to have been incurred at the
accreted value thereof as of such date. The amount of Indebtedness of any Person at any date shall be the outstanding balance at
such date of all unconditional obligations as described above, the maximum liability of such Person for any such contingent obligations
at such date and, in the case of clause (7), the lesser of (a) the Fair Market Value of any asset subject to a Lien securing
the Indebtedness of others on the date that the Lien attaches and (b) the amount of the Indebtedness secured. For purposes of clause
(5), the “maximum mandatory redemption or repurchase price” of any Disqualified Equity Interests that do not have
a fixed redemption or repurchase price shall be calculated in accordance with the terms of such Disqualified Equity Interests as
if such Disqualified Equity Interests were redeemed or repurchased on any date on which an amount of Indebtedness outstanding shall
be required to be determined pursuant to this Indenture.

 

    	 	13	 

     

    

  

The term “Indebtedness”
excludes (1) any repayment or reimbursement obligation of such Person or any of its Restricted Subsidiaries with respect to Customary
Recourse Exceptions, unless and until an event or circumstance occurs that triggers the Person’s or such Restricted Subsidiary’s
direct repayment or reimbursement obligation (as opposed to contingent or performance obligations) to the lender or other Person
to whom such obligation is actually owed, in which case the amount of such direct payment or reimbursement obligation shall constitute
Indebtedness and (2) any Indebtedness arising under a declaration of joint and several liability used for the purpose of section
2:403 of the Dutch Civil Code (and any residual liability under such declaration arising pursuant to section 2:404(2) of the Dutch
Civil Code) or as a result of two or more members of the Issuer’s group being part of a fiscal unity (fiscale eenheid) for
Dutch tax purposes.

 

“Indenture”
means this Indenture, as amended or supplemented from time to time. “Intellectual Property” means all patents,
patent applications, trademarks, trade names, service marks, copyrights, technology, trade secrets, proprietary information, domain
names, know-how and processes necessary for the conduct of the Issuer’s or any Restricted Subsidiary’s business.

 

“Investments”
of any Person means:

 

(1)       all
direct or indirect investments by such Person in any other Person (including Affiliates) in the form of loans, advances or capital
contributions or other credit extensions constituting Indebtedness of such other Person, and any guarantee of Indebtedness of any
other Person;

 

(2)       all
purchases (or other acquisitions for consideration) by such Person of Indebtedness, Equity Interests or other securities of any
other Person (other than any such purchase that constitutes a Restricted Payment of the type described in clause (2) of
the definition thereof);

 

(3)       all
other items that would be classified as investments in another Person on a balance sheet of such Person prepared in accordance
with GAAP; and

 

(4)       the
Designation of any Subsidiary as an Unrestricted Subsidiary.

 

Except as otherwise
expressly specified in this definition, the amount of any Investment (other than an Investment made in cash) shall be the Fair
Market Value thereof on the date such Investment is made. The amount of an Investment pursuant to clause (4) shall be the
Designation Amount determined in accordance with Section 4.16. If the Issuer or any Restricted Subsidiary sells or otherwise
disposes of any Equity Interests of any Restricted Subsidiary, or any Restricted Subsidiary issues any Equity Interests, in either
case, such that, after giving effect to any such sale or disposition, such Person is no longer a Subsidiary, the Issuer shall be
deemed to have made an Investment on the date of any such sale or other disposition equal to the Fair Market Value of the Equity
Interests of and all other Investments in such Restricted Subsidiary retained. Notwithstanding the foregoing, purchases or redemptions
of Equity Interests of the Issuer shall be deemed not to be Investments.

 

“Issue Date”
means January 29, 2021, the date on which the Initial Notes are originally issued.

 

“Issuer”
means TechnipFMC plc, a public limited company organized under the laws of England, and any successor Person resulting from any
transaction permitted by Section 5.1.

 

    	 	14	 

     

    

  

“Lien”
means, with respect to any asset, any mortgage, deed of trust, lien (statutory or other), pledge, lease, easement, restriction,
covenant, charge, security interest or other encumbrance of any kind or nature 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.

 

“Limited Condition
Transaction” means (1) any Investment or acquisition (whether by merger, amalgamation, consolidation or other business
combination or the acquisition of Equity Interests or otherwise), whose consummation is not conditioned on the availability of,
or on obtaining, third-party financing and (2) any redemption, repurchase, defeasance, satisfaction and discharge or repayment
of Indebtedness, Disqualified Equity Interests or Preferred Stock requiring irrevocable notice in advance of such redemption, repurchase,
defeasance, satisfaction and discharge or repayment.

 

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

 

“Net Available
Proceeds” means, with respect to any Asset Sale, the proceeds thereof in the form of cash or Cash Equivalents received
by the Issuer or any of its Restricted Subsidiaries from such Asset Sale, net of:

 

(1)       brokerage
commissions and other fees and expenses (including fees, discounts and expenses of legal counsel, accountants and investment banks,
consultants and placement agents) of such Asset Sale;

 

(2)       provisions
for taxes payable (including any withholding or other taxes paid or reasonably estimated to be payable in connection with the transfer
to the Issuer of such proceeds from any Restricted Subsidiary that received such proceeds) as a result of such Asset Sale (after
taking into account any available tax credits or deductions and any tax sharing arrangements);

 

(3)       amounts
required to be paid to any Person (other than the Issuer or any Restricted Subsidiary) owning a beneficial interest in the assets
subject to the Asset Sale or having a Lien thereon;

 

(4)       payments
of unassumed liabilities (not constituting Indebtedness) relating to the assets sold at the time of, or within 30 days after the
date of, such Asset Sale; and

 

(5)       appropriate
amounts to be provided by the Issuer or any Restricted Subsidiary, as the case may be, as a reserve required in accordance with
GAAP against any adjustment in the sale price of such asset or assets or liabilities associated with such Asset Sale and retained
by the Issuer or any Restricted Subsidiary, as the case may be, after such Asset Sale, including pensions and other post-employment
benefit liabilities, liabilities related to environmental matters and liabilities under any indemnification obligations associated
with such Asset Sale; provided, however, that any amounts remaining after adjustments, revaluations or liquidations
of such reserves shall constitute Net Available Proceeds.

 

“Non-Recourse
Debt” means Indebtedness of an Unrestricted Subsidiary as to which neither the Issuer nor any Restricted Subsidiary (a)
provides credit support of any kind through any undertaking, agreement or instrument that would constitute Indebtedness, except
for Customary Recourse Exceptions, or (b) is directly or indirectly liable as a guarantor or otherwise.

 

“Non-U.S.
Restricted Subsidiary” means any Restricted Subsidiary not organized or existing under the laws of the United States,
any state thereof or the District of Columbia, and any Restricted Subsidiary of such Restricted Subsidiary.

 

    	 	15	 

     

    

  

“Note Custodian”
means the Person appointed as custodian for the Depositary with respect to the Global Notes, or any successor entity thereto.

 

“Notes”
means the Initial Notes and any Additional Notes. The Initial Notes and the Additional Notes, if any, shall be treated as a single
class for all purposes under this Indenture.

 

“Obligation”
means any principal, interest, penalties, fees, indemnification, reimbursements, costs, expenses, damages and other liabilities
payable under the documentation governing any Indebtedness.

 

“Offering
Memorandum” means the Issuer’s offering memorandum, dated January 22, 2021, relating to the offer and sale of the
Initial Notes.

 

“Officer”
means any of the following of the Issuer or any Guarantor: the Chairman of the Board of Directors, the Chief Executive Officer,
the Chief Financial Officer, the President, any Vice President, Managing Director, the Treasurer or the Secretary, or any other
authorized person.

 

“Officers’
Certificate” means a certificate signed by two Officers that meets the requirements of Section 11.4 of this Indenture.

 

“Opinion of
Counsel” means a written opinion from legal counsel acceptable to the Trustee. The counsel may be an employee of or counsel
to the Issuer or the Trustee.

 

“Pari Passu
Indebtedness” means any Indebtedness of the Issuer or any Guarantor that is not Subordinated Indebtedness.

 

“Participant”
means, with respect to the Depositary, a Person who has an account with the Depositary.

 

“Paying Agent”
means any Person authorized by the Issuer to pay the principal of, premium, if any, or interest on any Notes on behalf of the Issuer.

 

“Payment Default”
means any default in payment of amounts when due on the Notes, without giving effect to any grace period.

 

“Permitted
Business” means the businesses engaged in by the Issuer and its Subsidiaries on the Issue Date, after giving pro forma
effect to the Spinoff Transactions, as described in the Offering Memorandum and businesses that are reasonably related, incidental
or ancillary thereto or reasonable extensions thereof.

 

“Permitted
Investment” means:

 

(1)          Investments
by the Issuer or any Restricted Subsidiary in (a) any Restricted Subsidiary or (b) any Person that will become immediately after
such Investment a Restricted Subsidiary or that will merge or consolidate into the Issuer or any Restricted Subsidiary and any
Investment held by any such Person at such time that was not incurred in contemplation of such acquisition, merger or consolidation;

 

(2)          Investments
in the Issuer by any Restricted Subsidiary;

 

(3)          loans
and advances to directors, employees and officers of the Issuer and its Restricted Subsidiaries (i) in the ordinary course of business
(including payroll, travel and entertainment related advances) (other than any loans or advances to any director or executive officer
(or equivalent thereof) that would be in violation of Section 402 of the Sarbanes Oxley Act) and (ii) to purchase Equity Interests
of the Issuer not in excess of $50 million in the aggregate outstanding at any one time;

 

    	 	16	 

     

    

  

(4)          Hedging
Obligations entered into in the ordinary course of business for bona fide hedging purposes of the Issuer or any Restricted Subsidiary
not for the purpose of speculation;

 

(5)          Investments
in cash, Cash Equivalents, U.S. Treasury securities, government securities of the United Kingdom, any member state of the European
Union, Norway, Singapore, Japan, Canada, Australia and New Zealand, investment grade corporate debt securities or any fund invested
primarily in the foregoing;

 

(6)          receivables
owing to the Issuer or any Restricted Subsidiary if created or acquired in the ordinary course of business and payable or dischargeable
in accordance with customary trade terms; provided, however, that such trade terms may include such concessionary
trade terms as the Issuer or any such Restricted Subsidiary deems reasonable under the circumstances;

 

(7)          Investments
in securities of trade creditors or customers received pursuant to any plan of reorganization or similar arrangement upon the bankruptcy
or insolvency of such trade creditors or customers or received in compromise or resolution of litigation, arbitration or other
disputes with such parties;

 

(8)          Investments
made by the Issuer or any Restricted Subsidiary as a result of consideration received in connection with an Asset Sale made in
compliance with Section 4.10 or a transaction excluded from the definition of Asset Sale;

 

(9)          lease,
utility and other similar deposits in the ordinary course of business;

 

(10)        stock,
obligations or securities received in settlement of debts created in the ordinary course of business and owing to the Issuer or
any Restricted Subsidiary or in satisfaction of judgments;

 

(11)        Investments
in Unrestricted Subsidiaries not to exceed the greater of (x) $175.0 million and (y) 1.75% of Consolidated Total Assets at the
time of such Investment; provided, however, that if any Investment pursuant to this clause (11) is made in any Person that
later becomes a Restricted Subsidiary after such date, such investment shall thereafter be deemed to have been made pursuant to
clause (1) above and shall cease to have been made pursuant to this clause (11) for so long as such Person continues to
be a Restricted Subsidiary;

 

(12)        guarantees
of Indebtedness of the Issuer or any of its Restricted Subsidiaries permitted in accordance with Section 4.9;

 

(13)        repurchases
of, or other Investments in, the Notes;

 

(14)        advances
or extensions of credit in the nature of accounts receivable arising from the sale or lease of goods or services, the leasing of
equipment or the licensing of property in the ordinary course of business and payable or dischargeable in accordance with customary
trade terms; provided that such trade terms may include such concessionary trade terms as the Issuer or the applicable Restricted
Subsidiary deems reasonable under the circumstances;

 

(15)        Investments
made pursuant to commitments in effect on the Issue Date;

 

    	 	17	 

     

    

  

(16)        Investments
the payment for which consists of Equity Interests (exclusive of Disqualified Equity Interests) of the Issuer; provided,
however, that such Equity Interests will not increase the amount available for Restricted Payments under the Restricted
Payments Builder Basket;

 

(17)        other
Investments in any Person having an aggregate Fair Market Value (measured on the date each such Investment was made and without
giving effect to subsequent changes in value) that, when taken together with all other Investments made pursuant to this clause
(17) since the Issue Date and then outstanding, do not exceed the greater of (a) $250.0 million and (b) 2.5% of the Issuer’s
Consolidated Total Assets determined at the time of investment;

 

(18)        performance
guarantees of any trade or non-financial operating contract (other than such contract that itself constitutes Indebtedness) in
the ordinary course of business;

 

(19)        Permitted
Joint Venture Investments made by the Issuer or any of its Restricted Subsidiaries, in an aggregate amount (measured on the date
each such Investment was made and without giving effect to subsequent changes in value), when taken together with all other Investments
made pursuant to this clause (19) and then outstanding, that does not exceed the greater of (a) $100.0 million and (b) 1.0%
of the Issuer’s Consolidated Total Assets determined at the time of investment;

 

(20)        Investments
made in accordance with recovery plans to support defined benefit plans or pension schemes sponsored by the Issuer or any Restricted
Subsidiary; and

 

(21)        any
other Investments if, on a pro forma basis after giving effect thereto including all related commitments for future Investments
(and the principal amount of any Indebtedness that is assumed or otherwise incurred in connection with such Investment), the Consolidated
Total Debt Ratio is less than 2.75 to 1.00.

 

In determining whether
any Investment is a Permitted Investment, the Issuer may allocate or reallocate all or any portion of an Investment among the clauses
of this definition and any of the provisions of Section 4.7.

 

“Permitted
Joint Venture Investment” means, with respect to an Investment by any specified Person, an Investment by such specified
Person in any other Person engaged in a Permitted Business (1) in which the Person has significant involvement in the day to day
operations and management or veto power over significant management decisions or board or management committee representation and
(2) of which at least 20.0% of the outstanding Equity Interests of such other Person is at the time owned directly or indirectly
by the specified Person.

 

“Permitted
Liens” means the following types of Liens:

 

(1)          Liens
for taxes, assessments or governmental charges or levies not yet due and payable or delinquent or that are being contested in good
faith by appropriate proceedings; provided that adequate reserves with respect thereto are maintained on the books of the
Issuer or its Restricted Subsidiaries, as the case may be, in conformity with GAAP;

 

(2)          Liens
in respect of property of the Issuer or any Restricted Subsidiary imposed by law or contract, which were not incurred or created
to secure Indebtedness for borrowed money, such as carriers’, warehousemen’s, materialmen’s, landlords’,
workmen’s, suppliers’, repairmen’s and mechanics’ Liens and other similar Liens arising in the ordinary
course of business, and which do not in the aggregate materially detract from the value of the property of the Issuer or its Restricted
Subsidiaries, taken as a whole, and do not materially impair the use thereof in the operation of the business of the Issuer and
its Restricted Subsidiaries, taken as a whole;

 

    	 	18	 

     

    

  

(3)          (i)
pledges or deposits made in connection therewith in the ordinary course of business in connection with workers’ compensation,
unemployment insurance, road transportation and other types of social security regulations and (ii) Liens incurred in connection
with or for the benefit of defined benefit plans or pension schemes sponsored by the Issuer or its Restricted Subsidiaries;

 

(4)          Liens
(i) incurred in the ordinary course of business to secure the performance of tenders, bids, trade contracts, stay and customs bonds,
leases, statutory obligations, surety and appeal bonds, statutory bonds, government contracts, performance and return money bonds
and other similar obligations (exclusive of obligations for the payment of borrowed money) or (ii) incurred in the ordinary course
of business to secure liability for premiums to insurance carriers;

 

(5)          Liens
upon specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in respect
of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage
of such inventory or other goods;

 

(6)          Liens
arising out of judgments or awards not resulting in a Default or an Event of Default so long as such Lien is adequately bonded
and any appropriate legal proceedings which may have been duly initiated for the review of such judgment have not been finally
terminated or the period within which such proceedings may be initiated has not expired;

 

(7)          easements,
rights of way, restrictions (including zoning restrictions), covenants, encroachments, protrusions and other similar charges or
encumbrances, and minor title deficiencies on or with respect to any Real Property, in each case whether now or hereafter in existence,
not (i) securing Indebtedness and (ii) in the aggregate materially interfering with the conduct of the business of the Issuer and
its Restricted Subsidiaries and not materially impairing the use of such Real Property in such business;

 

(8)          (i)
Liens securing reimbursement obligations with respect to commercial letters of credit which encumber documents and other assets
relating to such letters of credit and products and proceeds thereof and (ii) Liens securing Indebtedness represented by letters
of credit, bankers’ acceptances, letters of guaranty and similar credit transactions (or reimbursement agreements in respect
thereof) incurred and then outstanding pursuant to Section 4.9(b)(18);

 

(9)          Liens
encumbering deposits made to secure obligations arising from statutory, regulatory, contractual or warranty requirements of the
Issuer or any Restricted Subsidiary, including rights of offset and setoff;

 

(10)        bankers’
Liens, rights of setoff and other similar Liens existing solely with respect to cash and Cash Equivalents on deposit in one or
more accounts maintained by the Issuer or any Restricted Subsidiary, in each case granted in the ordinary course of business in
favor of the bank or banks with which such accounts are maintained, securing amounts owing to such bank with respect to cash management
and operating account arrangements, including those involving pooled accounts and netting arrangements, including any such Liens,
rights of setoff and other similar Liens pursuant to the general conditions of a bank operating in the Netherlands based on clauses
24 and 25 of the general conditions drawn up by the Netherlands Bankers' Association (Nederlandse Vereniging van Banken)
and the Consumers Union (Consumentenbond) or any other general conditions used by, or agreement or arrangement with, a bank
operating in the Netherlands to substantially the same effect;

 

    	 	19	 

     

    

  

(11)        any
interest or title of a lessor under any lease entered into by the Issuer or any Restricted Subsidiary in accordance with this Indenture;

 

(12)        the
filing of UCC financing statements solely as a precautionary measure in connection with operating leases, consignments of goods
or transfers of accounts, in each case to the extent not securing performance of a payment or other obligation;

 

(13)        Liens
securing the Notes and any Guarantee;

 

(14)        Liens
securing Hedging Obligations entered into for bona fide hedging purposes of the Issuer or any Restricted Subsidiary not for the
purpose of speculation;

 

(15)        Liens
securing Specified Cash Management Agreements entered into in the ordinary course of business;

 

(16)        Liens
in favor of the Issuer or a Guarantor;

 

(17)        Liens
securing Indebtedness under Debt Facilities incurred and then outstanding pursuant to Section 4.9(b)(1);

 

(18)        Liens
arising pursuant to Purchase Money Indebtedness or Capital Lease Obligations; provided that (i) the Indebtedness secured
by any such Lien (including refinancings thereof) does not exceed 100.0% of the cost of the property being acquired or leased at
the time of the incurrence of such Indebtedness and (ii) any such Liens attach only to the property being financed pursuant to
such Purchase Money Indebtedness (plus improvements, accessions, proceeds, replacements or dividends or distributions in respect
thereof) and do not encumber any other property of the Issuer or any Restricted Subsidiary;

 

(19)        Liens
securing Acquired Indebtedness; provided that such Indebtedness was not initially incurred in connection with, or in contemplation
of, such Person becoming a Restricted Subsidiary or being acquired or merged into the Issuer or a Restricted Subsidiary of the
Issuer and such Liens do not extend to assets not subject to such Lien at the time of acquisition (plus improvements, accessions,
proceeds, replacements or dividends or distributions in respect thereof);

 

(20)        Liens
on property of a Person existing at the time such Person is acquired or amalgamated or merged with or into or consolidated with
the Issuer or any Restricted Subsidiary (and not created in anticipation or contemplation thereof); provided that such Liens
do not extend to property not subject to such Liens at the time of acquisition (plus improvements, accessions, proceeds, replacements
or dividends or distributions in respect thereof);

 

(21)        Liens
on and pledges of the Equity Interests of any Unrestricted Subsidiary or any joint venture owned by the Issuer or any Restricted
Subsidiary of the Issuer to the extent securing Non-Recourse Debt or other Indebtedness of such Unrestricted Subsidiary or joint
venture;

 

(22)        Liens
arising from the deposit of funds or securities in trust for the purpose of decreasing or defeasing Indebtedness so long as such
deposit of funds or securities and such decreasing or defeasing of Indebtedness are permitted under Section 4.9;

 

(23)        licenses
of Intellectual Property granted by the Issuer or any Restricted Subsidiary in the ordinary course of business and not interfering
in any material respect with the ordinary conduct of the business of the Issuer or such Restricted Subsidiary;

 

    	 	20	 

     

    

  

(24)        Liens
arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into by the
Issuer or any Restricted Subsidiary in the ordinary course of business;

 

(25)        Liens
in favor of the Trustee as provided for in this Indenture on money or property held or collected by the Trustee in its capacity
as Trustee;

 

(26)        Liens
on assets of any non-Guarantor Subsidiary to secure Indebtedness of such non-Guarantor Subsidiary incurred pursuant to Section
4.9(b)(16) and Section 4.9(b)(19);

 

(27)        Liens
existing on the (i) Issue Date through the Effective Date and (ii) Issue Date that are also existing on the Effective Date after
giving effect to the Spinoff Transactions (other than Liens securing obligations under the RCF Credit Agreement);

 

(28)        other
Liens with respect to obligations which do not in the aggregate exceed at any time outstanding the greater of (a) $150.0 million
and (b) 1.5% of the Issuer’s Consolidated Total Assets determined at the time of incurrence of such obligation; and

 

(29)        any
Lien renewing, extending, refinancing or refunding a Lien permitted by clauses (13), (18), (19), (20),
(26) and (27) of this definition and this clause (29); provided that such Liens do not extend to any
additional assets (other than improvements, accessions, proceeds, replacements or dividends or distributions in respect thereof)
and the amount of such Indebtedness is not increased except as necessary to pay premiums or expenses incurred in connection with
such refinancing.

 

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

 

“Preferred
Stock” means, with respect to any Person, any and all preferred or preference stock or other Equity Interests (however
designated) of such Person whether now outstanding or issued after the Issue Date that is preferred as to the payment of dividends
upon liquidation, dissolution or winding up.

 

“principal”
means, with respect to the Notes, the principal of, and premium, if any, on the Notes.

 

“Purchase
Money Indebtedness” means Indebtedness, including Capitalized Lease Obligations, of the Issuer or any Restricted Subsidiary
incurred for the purpose of financing all or any part of the purchase price of property, plant or equipment used in the business
of the Issuer or any Restricted Subsidiary or the cost of installation, construction or improvement thereof; provided, however,
that (except in the case of Capitalized Lease Obligations) the amount of such Indebtedness shall not exceed such purchase price
or cost.

 

“Qualified
Equity Interests” of any Person means Equity Interests of such Person other than Disqualified Equity Interests; provided
that such Equity Interests shall not be deemed Qualified Equity Interests to the extent sold or owed to a Subsidiary of such Person
or financed, directly or indirectly, using funds (1) borrowed from such Person or any Subsidiary of such Person until and to the
extent such borrowing is repaid or (2) contributed, extended, guaranteed or advanced by such Person or any Subsidiary of such Person
(including, without limitation, in respect of any employee stock ownership or benefit plan). Unless otherwise specified, Qualified
Equity Interests refer to Qualified Equity Interests of the Issuer.

 

“Qualified
Equity Offering” means the issuance and sale of Qualified Equity Interests of the Issuer (or any direct or indirect parent
of the Issuer to the extent the net proceeds therefrom are contributed to the common equity capital of the Issuer or used to purchase
Qualified Equity Interests of the Issuer), other than (a) any issuance pursuant to employee benefit plans or otherwise in compensation
to officers, directors, trustees or employees, or (b) public offerings with respect to the Issuer’s Qualified Equity Interests
(or options, warrants or rights with respect thereto) registered on Form S-4 or S-8.

 

    	 	21	 

     

    

  

“Rating Agencies”
means Moody’s and S&P.

 

“Rating Decline”
means the occurrence of a decrease in the rating of the Notes by one or more of the Rating Agencies (including gradations within
the ratings categories, as well as between categories) within 60 days before or after the earlier of (x) a Change of Control, (y)
the date of public notice of the occurrence of a Change of Control or (z) public notice of the intention of the Issuer to effect
a Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration
for possible downgrade by a Rating Agency); provided, however, that a Rating Decline otherwise arising by virtue of a particular
reduction in rating will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed
a Change of Control Triggering Event for purposes of the definition of Change of Control Triggering Event) unless each such Rating
Agency making the reduction in rating to which this definition would otherwise apply announces or publicly confirms or informs
the Trustee in writing at the request of the Issuer or the Trustee that the reduction was the result, in whole or in part, of any
event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not
the applicable Change of Control has occurred at the time of the Rating Decline).

 

“RCF Credit
Agreement” means the Credit Agreement dated on or about the Effective Date, by and among the Issuer, as borrower, and
FMC Technologies, Inc., as US Borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the several lenders and other agents
party thereto, including any notes, guarantees, collateral and security documents, instruments and agreements executed in connection
therewith (including Hedging Obligations related to the Indebtedness incurred thereunder), and in each case as such agreement or
facility may be amended (including any amendment or restatement thereof), supplemented or otherwise modified from time to time,
including any agreement or indenture exchanging, extending the maturity of, refinancing, renewing, replacing, substituting or otherwise
restructuring, whether in the bank or debt capital markets (or combination thereof) (including increasing the amount of available
borrowings thereunder or adding or removing Subsidiaries as borrowers or guarantors thereunder) all or any portion of the Indebtedness
under such agreement or facility or any successor or replacement agreement or facility.

 

“Real Property”
means, collectively, all right, title and interest (including any leasehold estate) in and to any and all parcels of or interests
in real property owned, leased or operated by any Person, whether by lease, license or other means, together with, in each case,
all easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, all general
intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof.

 

“refinance”
means to refinance, repay, prepay, replace, renew or refund.

 

“Refinancing
Indebtedness” means Indebtedness of the Issuer or a Restricted Subsidiary incurred in exchange for, or the proceeds of
which are used to redeem, refinance, replace, defease, discharge, refund or otherwise retire for value, in whole or in part, any
Indebtedness of the Issuer or any Restricted Subsidiary (the “Refinanced Indebtedness”); provided that:

 

(1)       the
principal amount (or accreted value, in the case of Indebtedness issued at a discount) of the Refinancing Indebtedness does not
exceed the principal amount of the Refinanced Indebtedness plus the amount of accrued and unpaid interest on the Refinanced Indebtedness,
any premium paid to the holders of the Refinanced Indebtedness and reasonable expenses incurred in connection with the incurrence
of the Refinancing Indebtedness;

 

    	 	22	 

     

    

  

(2)       the
obligor of the Refinancing Indebtedness does not include any Person (other than the Issuer or any Guarantor) that is not an obligor
of the Refinanced Indebtedness;

 

(3)       if
the Refinanced Indebtedness was subordinated in right of payment to the Notes or the Guarantees, as the case may be, then such
Refinancing Indebtedness, by its terms, is subordinate in right of payment to the Notes or the Guarantees, as the case may be,
at least to the same extent as the Refinanced Indebtedness;

 

(4)       the
Refinancing Indebtedness has a Stated Maturity either (a) no earlier than the Refinanced Indebtedness being repaid or amended or
(b) no earlier than 91 days after the maturity date of the Notes;

 

(5)       the
portion, if any, of the Refinancing Indebtedness that is scheduled to mature on or prior to the maturity date of the Notes has
a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is incurred that is equal to or greater than the
Weighted Average Life to Maturity of the portion of the Refinanced Indebtedness being repaid that is scheduled to mature on or
prior to the maturity date of the Notes; and

 

(6)       the
proceeds of the Refinancing Indebtedness shall be used substantially concurrently with the incurrence thereof to redeem, refinance,
replace, defease, discharge, refund or otherwise retire for value the Refinanced Indebtedness, unless the Refinanced Indebtedness
is not then due and is not redeemable or prepayable at the option of the obligor thereof or is redeemable or prepayable only with
notice, in which case such proceeds shall be held until the Refinanced Indebtedness becomes due or redeemable or prepayable or
such notice period lapses and then shall be used to refinance the Refinanced Indebtedness; provided that in any event the
Refinanced Indebtedness shall be redeemed, refinanced, replaced, defeased, discharged, refunded or otherwise retired for value
within one year of the incurrence of the Refinancing Indebtedness.

 

“Regulation
S Legend” means the legend identified as such in Exhibit A.

 

“Responsible
Financial or Accounting Officer of the Issuer” means any one of the Chief Financial Officer (or other principal financial
officer), Controller, Treasurer or Chief Accounting Officer (or other principal accounting officer or controller) of the Issuer.

 

“Responsible
Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee,
including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer
of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers,
respectively, or to whom any corporate trust matter is referred because of such Person’s knowledge of and familiarity with
the particular subject and who shall have direct responsibility for the administration of this Indenture.

 

“Restricted
Notes Legend” means the legend identified as such in Exhibit A.

 

“Restricted
Payment” means any of the following:

 

(1)       the
payment of any dividend or any other distribution (whether made in cash, securities or other property) on or in respect of Equity
Interests of the Issuer or any Restricted Subsidiary or any payment made to the direct or indirect holders (in their capacities
as such) of Equity Interests of the Issuer or any Restricted Subsidiary, including, without limitation, any payment in connection
with any merger or consolidation involving the Issuer or any of its Restricted Subsidiaries but excluding (a) dividends or distributions
payable solely in Qualified Equity Interests or through accretion or accumulation of such dividends on such Equity Interests and
(b) in the case of Restricted Subsidiaries, dividends or distributions payable to the Issuer or to a Restricted Subsidiary (and
if such Restricted Subsidiary is not a Wholly-Owned Subsidiary, to its other holders of its Equity Interests on a pro rata basis
or a basis more favorable to the Issuer);

 

    	 	23	 

     

    

  

(2)       the
purchase, redemption, defeasance or other acquisition or retirement for value of any Equity Interests of the Issuer or any direct
or indirect parent of the Issuer held by Persons other than the Issuer or a Restricted Subsidiary (including, without limitation,
any payment in connection with any merger or consolidation involving the Issuer);

 

(3)       any
Investment other than a Permitted Investment; or

 

(4)       any
principal payment on, purchase, redemption, defeasance, prepayment, decrease or other acquisition or retirement for value prior
to any scheduled maturity or prior to any scheduled repayment of principal or sinking fund payment, as the case may be, in respect
of Subordinated Indebtedness (other than any such payment made within one year of any such scheduled maturity or scheduled repayment
or sinking fund payment and other than any Subordinated Indebtedness owed to and held by the Issuer or any Restricted Subsidiary
permitted under Section 4.9(b)(6).

 

“Restricted
Period” means the 40-day distribution compliance period as defined in Regulation S promulgated under the Securities Act.

 

“Restricted
Subsidiary” means any Subsidiary other than an Unrestricted Subsidiary.

 

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

 

“SEC”
means the U.S. Securities and Exchange Commission.

 

“Securities
Act” means the U.S. Securities Act of 1933, as amended.

 

“Significant
Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” as defined in Rule 1-02
of Regulation S-X promulgated pursuant to the Securities Act as such Regulation was in effect on the Issue Date.

 

“Specified
Cash Management Agreements” means any agreement providing for treasury, depositary, purchasing card or cash management
services, including in connection with any automated clearing house transfers of funds or any similar transactions between the
Issuer or any Restricted Subsidiary and any lender.

 

“Specified
Investment Grade Rating” means a rating equal to or higher than Baa2 (or the equivalent) by Moody’s and BBB (or
the equivalent) by S&P, in each case, with a stable or better outlook.

 

“Specified
Joint Venture” means each of (i) Dofcon Navegação and (ii) Techdof Brasil.

 

“Specified
Joint Venture Indebtedness” means the Indebtedness of each of the Specified Joint Ventures outstanding on the Issue Date,
related to loans provided by Banco Nacional de Desenvolvimento Econômico e Social (BNDES), in respect of the vessels Skandi
Vitoria, Skandi Niteroi and Skandi Olinda, Eksportkreddit Norge AS, in respect of the vessel Skandi Recife, Société
Générale, in respect of the vessel Skandi Acu, and DNB Bank ASA, in respect of the vessel Skandi Buzios.

 

“Specified
PPN Indebtedness” means each of the Issuer’s €150.0 million 3.40% private placement notes due 2022; €130.0
million 3.15% private placement notes due 2023; €125.0 million 3.15% private placement notes due 2023 and €200.0 million
4.50% private placement notes due 2025.

 

    	 	24	 

     

    

  

“Spinoff”
means the planned separation of the Issuer’s Technip Energies business segment, which is structured as a partial spinoff
of Technip Energies, including the Issuer’s Genesis, Loading System and Cybernetix businesses as of the Issue Date, through
the distribution (the “Distribution”) by the Issuer of 50.1% of the ordinary shares of Technip Energies to shareholders
of the Issuer.

 

“Spinoff Documents”
means (i) the Separation and Distribution Agreement with Technip Energies dated as of January 7, 2021; (ii) the Share Purchase
Agreement with Bpifrance Participations SA (“BPI”) dated as of January 7, 2021, the Relationship Agreement with
Technip Energies and BPI dated as of January 7, 2021, (iii) the Commitment Letter with JPMorgan Chase Bank, N.A., Citigroup Global
Markets Inc., DNB Capital, LLC, Société Générale, Sumitomo Mitsui Banking Corporation, Wells Fargo
Bank, National Association, Wells Fargo Securities, LLC, Bank of America, N.A., BofA Securities, Inc., Standard Chartered Bank
and The Northern Trust Company, and certain of their affiliates, dated as of January 7, 2021, providing for a $1,000.0 million
first lien senior secured revolving credit facility and an $850.0 million second lien senior secured bridge loan facility and (iv)
the other documents and agreements entered, or to be entered, into in connection with the Spinoff and the Transactions, and in
each case of clauses (i) through (iv), as further described in the Offering Memorandum.

 

“Spinoff Refinancing
Debt” means (i) $1,091,000,000 aggregate principal amount equivalent in a combination of U.S. dollars and British pounds
of the Issuer’s and FMC Technologies, Inc.’s commercial paper plus accrued and unpaid interest thereon; (ii) all of
the Issuer’s 0.875% Non-Dilutive Cash Settled Convertible Bonds due 2021 with ISIN: XS1351586588 listed on Euronext Paris
(the “Synthetic Convertible Bonds”) plus accrued and unpaid interest thereon; (iii) all of the Issuer’s 3.45%
Senior Notes due 2022 with ISIN US87854XAD30 listed on the Euro MTF Market of the Luxembourg Stock Exchange plus premia and accrued
and unpaid interest thereon; (iv) certain derivative instruments in respect of the Issuer’s Synthetic Convertible Bonds;
and (v) the $2.5 billion revolving senior unsecured revolving credit facility agreement dated January 17, 2017 (as amended from
time to time) by and between FMC Technologies, Inc., Technip Eurocash SNC and the Issuer as borrowers, and JPMorgan Chase Bank,
N.A. as agent and arranger and SG Americas Securities LLC as arranger; and (vi) the €500.0 million revolving credit facility
dated May 19, 2020 (as amended from time to time) by and between the Issuer and HSBC France as agent.

 

“Spinoff Transactions”
means the Spinoff and the other transactions to be effected on the Effective Date pursuant to the Spinoff Documents and in furtherance
of on the Effective Date, including (i) the purchase by BPI from the Issuer of a number of Technip Energies shares representing
up to 17.25% of the total number of Technip Energies shares outstanding immediately following the Distribution for a purchase price
of $200.0 million, (ii) the entry into the RCF Credit Agreement, (iii) allocation of cash and cash equivalents between the Issuer
and Technip Energies in accordance with the Spinoff Documents, (iv) the reorganization of the RemainCo Group and (v) the refinancing,
repayment, redemption and/or cancellation of the Spinoff Refinancing Debt, in each case, as further described in the Offering Memorandum.

 

“Stated Maturity”
means, with respect to any Indebtedness, the date specified in the agreement governing or certificate relating to such Indebtedness
as the fixed date on which the final payment of principal of such Indebtedness is due and payable, including pursuant to any mandatory
redemption provision, but shall not include any contingent obligations to repay, redeem or repurchase any such principal prior
to the date originally scheduled for the payment thereof.

 

    	 	25	 

     

    

  

“Subordinated
Indebtedness” means Indebtedness of the Issuer or any Guarantor that is expressly subordinated in right of payment to
the Notes or the Guarantees, respectively.

 

“Subsidiary”
means, with respect to any Person:

 

(1)       any
corporation, limited liability company, association, trust or other business entity of which more than 50.0% of the total voting
power of the Equity Interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Board
of Directors thereof is at the time owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries
of such Person (or a combination thereof); and

 

(2)       any
partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person
or (b) the only general partners of which are such Person or of one or more Subsidiaries of such Person (or any combination thereof).

 

Unless otherwise specified,
“Subsidiary” refers to (1) on or prior to the Effective Date, a Subsidiary of the Issuer after giving pro forma effect
to the Transactions (and excluding, for the avoidance of doubt, the Technip Energies Group) and (2) following the Effective Date,
a Subsidiary of the Issuer.

 

Prior to the Effective
Date, the word “Subsidiaries” refers to (1) on or prior to the Effective Date, Subsidiaries of the Issuer after giving
pro forma effect to the Spinoff Transactions (and excluding, for the avoidance of doubt Technip Energies and its Subsidiaries)
and (2) following the Effective Date, Subsidiaries of the Issuer (such Persons together with the joint ventures of the Issuer and
its Subsidiaries after giving effect to the Spinoff, the “RemainCo Group”). Technip Energies and its subsidiaries,
together with the joint ventures of Technip Energies and its Subsidiaries after giving effect to the Spinoff are referred to as,
the “Technip Energies Group.”

 

“Techdof Brasil”
means Techdof Brasil AS, a Norwegian joint venture arrangement wholly owned by Dofcon Brasil, which holds the vessels Skandi Acu
and Skandi Buzios as of the Issue Date.

 

“Technip Energies”
means Technip Energies B.V., a Dutch private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid)
and any successor Person.

 

“TIA”
or “Trust Indenture Act” means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb), as
amended.

 

“Transactions”
means the Spinoff Transactions and the offering, issuance and sale of the Notes and the application of the net proceeds thereof,
in each case, as further described in the Offering Memorandum.

 

“Transfer
Restricted Notes” means Notes that bear or are required to bear the Restricted Notes Legend.

 

“Treasury
Rate” means, as of any redemption date, the yield to maturity at the time of computation of United States Treasury securities
with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 which has become
publicly available at least two Business Days prior to the redemption date (or, if such Statistical Release is no longer published,
any publicly available source or similar market data)) most nearly equal to the period from the redemption date to February 1,
2023; provided, however, that if the period from the redemption date to February 1, 2023 is not equal to the constant
maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by
linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury
securities for which such yields are given, except that if the period from the redemption date to February 1, 2023 is less than
one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one
year shall be used.

 

    	 	26	 

     

    

  

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

 

“Unrestricted
Subsidiary” means (a) any Subsidiary that at the time of determination shall be designated an Unrestricted Subsidiary
by the Board of Directors of the Issuer in accordance with Section 4.16 and (b) any Subsidiary of an Unrestricted Subsidiary.
On the Issue Date, The Red Adair Company LLC shall be an Unrestricted Subsidiary.

 

“U.S. Government
Obligations” means direct non-callable obligations of, or guaranteed by, the United States for the payment of which guarantee
or obligations the full faith and credit of the United States is pledged.

 

“U.S. Restricted
Subsidiary” means any Restricted Subsidiary that is not a Non-U.S. Restricted Subsidiary.

 

“Vessel Financings”
means the Indebtedness described in the Offering Memorandum under the heading “Description of certain financing arrangements—Vessel
financings.”

 

“Voting Stock”
with respect to any Person, means securities of any class of Equity Interests of such Person entitling the holders thereof (whether
at all times or only so long as no senior class of stock or other relevant equity interest has voting power by reason of any contingency)
to vote in the election of members of the Board of Directors of such Person.

 

“Weighted
Average Life to Maturity” when applied to any Indebtedness at any date, means the number of years obtained by dividing
(1) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity
or other required payment of principal, including payment at Stated Maturity, in respect thereof by (b) the number of years (calculated
to the nearest one-twelfth) that will elapse between such date and the making of such payment by (2) the then outstanding principal
amount of such Indebtedness.

 

“Wholly-Owned
Subsidiary” means a Restricted Subsidiary, all of the Equity Interests of which (other than directors’ qualifying
shares) are owned by the Issuer or another Wholly-Owned Subsidiary.

 

Section 1.2.      Other
Definitions.

 

	Term	 	Defined in Section
	“acceleration declaration”	 	6.2
	“Act”	 	11.13
	“Additional Amounts”	 	2.17(b)
	“Affiliate Transaction”	 	4.11(a)
	“Alternate Offer”	 	4.13(b)
	“Applicable Premium Deficit”	 	8.8
	“Change of Control Offer”	 	4.13(b)
	“Change of Control Payment Date”	 	4.13(b)
	“Change of Control Purchase Price”	 	4.13(a)
	“Covenant Defeasance”	 	8.3
	“Coverage Ratio Exception”	 	4.9(a)
	“Deposit Trustee”	 	8.5

 

    	 	27	 

     

    

  

	“Designation”	 	4.16(a)
	“Designation Amount”	 	4.16(a)
	“Distribution”	 	1.1
	“EDGAR”	 	4.3(a)

	“Event of Default”	 	6.1
	“Excess Proceeds”	 	4.10(b)
	“Four-Quarter Period”	 	1.1
	“IAI Global Note”	 	2.1(b)
	“Initial Lien”	 	4.12(a)
	“Initial Notes”	 	Preamble
	“JPMCB”	 	4.18(a)
	“LCT Election”	 	1.3(c)
	“LCT Test Date”	 	1.3(c)
	“Legal Defeasance”	 	8.2
	“Net Proceeds Offer”	 	4.10(c)
	“Net Proceeds Offer Amount”	 	4.10(d)
	“Net Proceeds Offer Period”	 	4.10(d)
	“Net Proceeds Purchase Date”	 	4.10(d)
	“Permitted Indebtedness”	 	4.9(b)
	“QIBs”	 	2.1(b)
	“Redesignation”	 	4.16(b)
	“Registrar”	 	2.3
	“Regulation S”	 	2.1(b)
	“Regulation S Global Note”	 	2.1(b)
	“Restricted Payments Builder Basket”	 	4.7(a)
	“Rule 144A”	 	2.1(b)
	“Rule 144A Global Note”	 	2.1(b)
	“Special Mandatory Redemption”	 	3.9(a)
	“Special Mandatory Redemption Date”	 	3.9(b)
	“Special Mandatory Redemption Event”	 	3.9(a)
	“Special Mandatory Redemption Notice”	 	3.9(b)
	“Special Mandatory Redemption Price”	 	3.9(a)
	“Successor”	 	5.1(a)
	“Taxes”	 	2.17(a)
	“Taxing Jurisdiction”	 	2.17(b)
	“Termination Date”	 	4.17(a)
	“Transaction Date”	 	1.1
	“Trustee”	 	Preamble

 

Section 1.3.     Rules
of Construction.

 

(a)          Unless
the context otherwise requires:

 

(1)       a
term has the meaning assigned to it herein;

 

(2)       an
accounting term not otherwise defined herein has the meaning assigned to it in accordance with GAAP;

 

(3)       “or”
is not exclusive;

 

(4)       words
in the singular include the plural, and in the plural include the singular;

    	 	28	 

     

    

  

(5)       unless
otherwise specified, any reference to Section, Article or Exhibit refers to such Section, Article or Exhibit, as the case may be,
of this Indenture;

 

(6)       provisions
apply to successive events and transactions; and

 

(7)       references
to sections of or rules under the Securities Act or the Exchange Act shall be deemed to include substitute, replacement or successor
sections or rules adopted by the SEC from time to time.

 

Section 1.4.      Limited
Condition Transaction.

 

(a)          Notwithstanding
anything to the contrary in this Indenture, when (a) determining compliance with any provision of this Indenture which requires
the calculation of the Consolidated Interest Coverage Ratio or the Consolidated Total Debt Ratio, (b) determining compliance with
any provision of this Indenture which requires that no Default or Event of Default has occurred, is continuing or would result
therefrom or (c) testing availability under baskets set forth in this Indenture (including baskets measured as a percentage of
Consolidated Total Assets), 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 availability under any baskets shall, at the
option of the Issuer (the Issuer’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) and (c) 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”).

 

(b)          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 Equity Interests 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 recently ended period prior to the LCT Test Date for which annual or quarterly
consolidated financial statements of the Issuer are available (as determined in good faith by the Issuer), the Issuer 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, unless an Event of Default pursuant to clauses (1), (2) and (7) (solely with respect to the
Issuer) under Section 6.1, shall be continuing on the date such Limited Condition Transaction is consummated.

 

(c)          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 any components of such ratio (including due to fluctuations
of the target of any Limited Condition Transaction)) or other provisions at or prior to the consummation of the relevant Limited
Condition Transaction, 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, unless on such date an Event of Default pursuant to clauses (1), (2) and (7) (solely with respect to the Issuer) under
Section 6.1 shall be continuing. If the Issuer 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 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, 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 Equity Interests or preferred stock, and the use of proceeds thereof) had been consummated
on the LCT Test Date.

 

    	 	29	 

     

    

  

(d)         For
the avoidance of doubt, the Consolidated Interest Coverage Ratio, Consolidated Net Income, Consolidated Interest Expense, Consolidated
Total Assets, Consolidated Total Indebtedness and the Consolidated Total Debt Ratio for all periods prior to the Effective Date
shall be calculated on a pro forma basis after giving effect to the Spinoff Transactions.

 

ARTICLE
II

THE NOTES

 

Section 2.1.     Form
and Dating. The Notes shall be substantially in the form of Exhibit A attached hereto. The Notes may have notations,
legends or endorsements required by law, stock exchange rule or usage. Each Note shall be dated the date of its authentication.
The Notes will be issued in registered form, without coupons, and in minimum denominations of $2,000 and integral multiples of
$1,000 in excess thereof. The registered Holder will be treated as the owner of such Note for all purposes.

 

The terms and provisions
contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture, and the Issuer and the Trustee,
by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However,
to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture
shall govern and be controlling.

 

(a)         The
Notes shall be issued initially in the form of one or more Global Notes, which shall be deposited on behalf of the purchasers of
the Notes represented thereby with the Note Custodian, and registered in the name of the Depositary or a nominee of the Depositary,
duly executed by the Issuer and authenticated by the Trustee as hereinafter provided.

 

Each Global Note shall
represent such of the outstanding Notes as shall be specified therein, and each shall provide that it shall represent the aggregate
amount of outstanding Notes from time to time endorsed thereon and that the aggregate amount of outstanding Notes represented thereby
may from time to time be reduced or increased, as appropriate, to reflect exchanges, redemptions and transfers of interests. Any
endorsement of a Global Note to reflect the amount of any increase or decrease in the amount of outstanding Notes represented thereby
shall be made by the Trustee or the Note Custodian, at the direction of the Trustee, in accordance with instructions given by the
Holder thereof as required by Section 2.6.

 

(b)         The
Initial Notes are being issued by the Issuer only (i) to persons reasonably believed to be “qualified institutional buyers”
(as defined in Rule 144A under the Securities Act (“Rule 144A”)) (“QIBs”) and (ii) in reliance
on Regulation S under the Securities Act (“Regulation S”). After such initial issuance, Initial Notes that are
Transfer Restricted Notes may be transferred to QIBs in reliance on Rule 144A, outside the United States pursuant to Regulation
S, to IAIs or to the Issuer, in accordance with certain transfer restrictions. Initial Notes that are offered in reliance on Rule
144A shall be issued in the form of one or more permanent Global Notes substantially in the form set forth in Exhibit A
and bear the Restricted Notes Legend and the Global Notes Legend (collectively, the “Rule 144A Global Note”),
deposited with the Note Custodian, duly executed by the Issuer and authenticated by the Trustee as hereinafter provided. Initial
Notes that are offered in offshore transactions in reliance on Regulation S shall be initially issued in the form of one or more
permanent Global Notes substantially in the form set forth in Exhibit A and bearing the Regulation S Legend and the Global
Notes Legend (collectively, the “Regulation S Global Note”), deposited with the Note Custodian, duly executed
by the Issuer and authenticated by the Trustee as hereinafter provided. One or more Global Notes substantially in the form set
forth in Exhibit A and bear the Restricted Notes Legend and the Global Notes Legend (collectively, the “IAI Global
Note”) shall also be issued on the Issue Date and deposited with the Depositary to accommodate transfers of beneficial
interests in the Notes to IAIs subsequent to the initial distribution. To the extent CUSIP numbers are issued pursuant to Section
2.14, the Rule 144A Global Note, the Regulation S Global Note and the IAI Global Note shall each be issued with separate CUSIP
numbers. The aggregate principal amount of each Global Note may from time to time be increased or decreased by adjustments made
on the records of the Note Custodian, at the direction of the Trustee, in accordance with the instructions given by the Holder
thereof as required by Section 2.6(b) hereof. Transfers of Notes among QIBs and to or by purchasers pursuant to Regulation
S shall be represented by appropriate increases and decreases to the respective amounts of the appropriate Global Notes, as more
fully provided in Section 2.15.

 

    	 	30	 

     

    

  

(c)          Section
2.1(b) shall apply only to Global Notes deposited with or on behalf of the Depositary.

 

The Issuer shall execute
and the Trustee shall, in accordance with this Section 2.1 and Section 2.2, authenticate and deliver the Global Notes
that (i) shall be registered in the name of the Depositary or the nominee of the Depositary and (ii) shall be delivered by the
Trustee to the Depositary or pursuant to the Depositary’s instructions or held by the Note Custodian for the Depositary.

 

Section 2.2.      Execution
and Authentication. An Officer shall sign the Notes for the Issuer by manual, facsimile or electronic signature.

 

If an Officer whose
signature is on a Note no longer holds that office at the time a Note is authenticated, the Note shall nevertheless be valid.

 

A Note shall not be
valid until authenticated by the manual, facsimile or electronic signature of a Responsible Officer of the Trustee. The signature
of a Responsible Officer of the Trustee shall be conclusive evidence that the Note has been authenticated under this Indenture.

 

The Trustee shall,
upon receipt of a written order of the Issuer signed by one Officer directing the Trustee to authenticate the Notes and certifying
that all conditions precedent to the issuance of the Notes contained herein have been complied with and receipt of an Opinion of
Counsel, authenticate Notes for original issue in the aggregate principal amount stated in such written order.

 

The Trustee may appoint
an authenticating agent reasonably acceptable to the Issuer to authenticate Notes. Unless limited by the terms of such appointment,
an authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication
by the Trustee includes authentication by such agent or agents. An authenticating agent has the same rights as an Agent to deal
with Holders or the Issuer or an Affiliate of the Issuer.

 

Section 2.3.     Registrar;
Paying Agent. The Issuer shall maintain (i) an office or agency where Notes may be presented for registration of transfer or
for exchange (“Registrar”) and (ii) an office or agency where Notes may be presented for payment to a Paying
Agent. The Registrar shall keep a register of the Notes and of their transfer and exchange. The Issuer may appoint one or more
co-registrars and one or more additional Paying Agents. The term “Registrar” includes any co-registrar, and the term
“Paying Agent” includes any additional Paying Agent. The Issuer may change any Paying Agent or Registrar without notice
to any Holder. The Issuer and/or any Restricted Subsidiary may act as Paying Agent or Registrar.

 

The Issuer shall notify
the Trustee in writing, and the Trustee shall notify the Holders, of the name and address of any Agent not a party to this Indenture.
The Issuer shall enter into an appropriate agency agreement with any Agent not a party to this Indenture. If the Issuer fails to
appoint or maintain a Registrar or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as such, and shall
be entitled to appropriate compensation in accordance with Section 7.6.

 

    	 	31	 

     

    

  

The Issuer initially
appoints the Trustee to act as the Registrar and Paying Agent, at its Corporate Trust Office and its address at 13737 Noel Road,
Suite 800, Dallas, TX 75240, Attention: Global Corporate Trust.

 

The Issuer initially
appoints DTC to act as the Depositary with respect to the Global Notes.

 

Section 2.4.     Paying
Agent to Hold Money in Trust. The Issuer shall require each Paying Agent other than the Trustee to agree in writing that the
Paying Agent shall hold in trust for the benefit of the Holders or the Trustee all money held by the Paying Agent for the payment
of principal or premium, if any, or interest on the Notes, and shall notify the Trustee in writing of any Default by the Issuer
in making any such payment. While any such Default continues, the Trustee may require a Paying Agent to pay to the Trustee all
money held by it in trust for the benefit of the Holders or the Trustee. The Issuer at any time may require a Paying Agent to pay
all money held by it in trust for the benefit of the Holders or the Trustee to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than the Issuer or any of its Subsidiaries) shall have no further liability for such money. If the Issuer
or any of its Subsidiaries acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders
all money held by it as Paying Agent. Upon the occurrence of any of the events specified in Section 6.1, the Trustee shall
serve as Paying Agent for the Notes.

 

Section 2.5.     Holder
Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of
the names and addresses of all Holders. If the Trustee is not the Registrar, the Issuer shall furnish to the Trustee at least seven
(7) Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such
form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders.

 

Section 2.6.      Book-Entry
Provisions for Global Notes.

 

(a)       Each
Global Note shall (i) deposited with the Trustee as custodian for DTC, (ii) registered in the name of Cede & Co., as nominee
of DTC, and (iii) bear the Global Note legends as required by Section 2.6(e). Ownership of beneficial interest in each global
note shall be limited to Participants in the Depositary or persons who hold interests through Participants.

 

Members of, or Participants
in, the Depositary shall have no rights under this Indenture with respect to any Global Note held on their behalf by the Depositary,
or the Note Custodian, or under such Global Note, and the Depositary may be treated by the Issuer, and the Trustee or any Agent
and any of their respective agents, as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the
foregoing, nothing herein shall prevent the Issuer, the Trustee or any Agent or their respective agents from giving effect to any
written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Participants,
the operation of customary practices governing the exercise of the rights of an owner of a beneficial interest in any Global Note.

 

Neither the Trustee
nor any Agent shall have any responsibility or obligation to any Holder that is a member of (or a Participant in) the Depositary
or any other Person with respect to the accuracy of the records of the Depositary (or its nominee) or of any member or Participant
thereof, with respect to any ownership interest in the Notes or with respect to the delivery of any notice (including any notice
of redemption) or the payment of any amount or delivery of any Notes (or other security or property) under or with respect to the
Notes. The Trustee and any Agent may rely (and shall be fully protected in relying) upon information furnished by the Depositary
with respect to its members, Participants and any Beneficial Owners in the Notes.

 

    	 	32	 

     

    

  

Neither the Trustee
nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary.

 

(b)         Transfers
of a Global Note shall be limited to transfers of such Global Note in whole, but not in part, to the Depositary, its successors
or their respective nominees. Interests of Beneficial Owners in a Global Note may be transferred in accordance with Section
2.15 and the rules and procedures of the Depositary. In addition, certificated Notes shall be transferred to Beneficial Owners
in exchange for their beneficial interests only if (i) the Depositary notifies the Issuer that it is unwilling or unable to continue
as Depositary for the Global Notes or the Depositary ceases to be a “clearing agency” registered under the Exchange
Act and, in each case, a successor depositary is not appointed by the Issuer within 90 days of such notice, (ii) an Event of Default
of which a Responsible Officer of the Trustee has actual notice has occurred and is continuing and the Registrar has received a
request from any Holder of a Global Note to issue such certificated Notes or (iii) the Issuer, in its sole discretion, notifies
the Trustee that it elects to cause the issuance of certificated Notes.

 

(c)          In
connection with the transfer of an entire Global Note to Beneficial Owners pursuant to Section 2.6(b), such Global Note
shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer shall execute, and the Trustee shall authenticate
and deliver to each Beneficial Owner identified by the Depositary in exchange for its beneficial interest in such Global Note an
equal aggregate principal amount of certificated Notes of authorized denominations.

 

(d)         The
registered Holder of a Global Note may grant proxies and otherwise authorize any Person, including Participants and Persons that
may hold interests through Participants, to take any action which a Holder is entitled to take under this Indenture or the Notes.

 

(e)          Each
Global Note shall bear the Global Note Legend on the face thereof.

 

(f)          At
such time as all beneficial interests in Global Notes have been exchanged for certificated Notes, redeemed, repurchased or cancelled,
all Global Notes shall be returned to or retained and cancelled by the Trustee in accordance with Section 2.11. At any time
prior to such cancellation, if any beneficial interest in a Global Note is exchanged for certificated Notes, redeemed, repurchased
or cancelled, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall
be made on such Global Note, by the Trustee or the Note Custodian, at the direction of the Trustee, to reflect such reduction.

 

(g)         General
Provisions Relating to Transfers and Exchanges.

 

(1)       To
permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate Global Notes and certificated
Notes at the Registrar’s request.

 

(2)       No
service charge shall be made to a Holder for any registration of transfer or exchange, but the Issuer may require payment of a
sum sufficient to cover any stamp or transfer tax or similar governmental charge payable in connection therewith (other than any
such stamp or transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Section 3.6, Section
4.10, Section 4.13 or Section 9.4).

 

(3)       All
Global Notes and certificated Notes issued upon any registration of transfer or exchange of Global Notes or certificated Notes
shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture,
as the Global Notes (or interests therein) or certificated Notes surrendered upon such registration of transfer or exchange.

    	 	33	 

     

    

 

 

(4)       None
of the Issuer, the Trustee or the Registrar is required (A) to issue, to register the transfer of or to exchange Notes during a
period beginning at the opening of 15 days before the day of any selection of Notes for redemption and ending at the close of business
on the day of such selection, (B) to register the transfer of or to exchange any Note so selected for redemption in whole or in
part, except the unredeemed portion of any Note being redeemed in part, or (C) to register the transfer of or to exchange a Note
between a record date and the next succeeding interest payment date.

 

(5)       Prior
to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuer may deem and treat the
Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal
of and interest on such Notes and for all other purposes, and none of the Trustee, any Agent, or the Issuer shall be affected by
notice to the contrary.

 

(6)       The
Trustee shall authenticate Global Notes and certificated Notes in accordance with the provisions of Section 2.2. Except
as provided in Section 2.6(b), neither the Trustee nor the Registrar shall authenticate or deliver any certificated Note
in exchange for a Global Note.

 

(7)       Each
Holder agrees to indemnify the Issuer and the Trustee against any liability that may result from the transfer, exchange or assignment
of such Holder’s Note in violation of any provision of this Indenture and/or applicable United States federal or state securities
law.

 

(8)       Neither
the Trustee nor any Agent shall have any obligation or duty to monitor, determine or inquire as to compliance with any restrictions
on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including
any transfers between or among Participants or Beneficial Owners of interests in any Global Note) other than to require delivery
of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required
by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements
hereof.

 

(9)       In
connection with any proposed exchange of a certificated Note for a Global Note, the Issuer or the Depositary shall be required
to provide or cause to be provided to the Trustee all information necessary to allow the Trustee to comply with any applicable
tax reporting obligations, including without limitation any cost basis reporting obligations under Section 6045 of the Internal
Revenue Code of 1986. The Trustee may rely on information provided to it and shall have no responsibility to verify or ensure the
accuracy of such information.

 

Section 2.7.     Replacement
Notes. If any mutilated Note is surrendered to the Trustee, or the Issuer and the Trustee receive evidence to their satisfaction
of the destruction, loss or theft of any Note, the Issuer shall issue and the Trustee, upon the written order of the Issuer signed
by an Officer of the Issuer, shall authenticate a replacement Note if the Trustee’s requirements are met. An indemnity bond
must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Issuer to protect the Issuer, the Trustee,
any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Issuer, the Trustee
and the Agents may charge for their expenses in replacing a Note.

 

    	 	34	 

     

    

Every
replacement Note is an additional obligation of the Issuer and shall be entitled to all of the benefits of this Indenture equally
and proportionately with all other Notes duly issued hereunder.

 

Section 2.8.     Outstanding
Notes. The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those cancelled by it,
those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance
with the provisions hereof, and those described in this Section 2.8 as not outstanding. Except as set forth in Section
2.9, a Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note.

 

If a Note is replaced
pursuant to Section 2.7, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced
Note is held by a protected purchaser.

 

If the Paying Agent
(other than the Issuer, a Subsidiary or an Affiliate of any thereof) holds, on any payment date, money sufficient to pay the amounts
under the Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer outstanding and shall
cease to accrue interest.

 

Section 2.9.     Treasury
Notes. In determining whether the Holders of the required aggregate principal amount of Notes have concurred in any direction,
waiver or consent, Notes owned by the Issuer or by any Affiliate of the Issuer shall be considered as though not outstanding, except
that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent,
only Notes of which a Responsible Officer of the Trustee has written notice as being so owned shall be so disregarded. Notwithstanding
the foregoing, Notes that are to be acquired by the Issuer or an Affiliate of the Issuer pursuant to an exchange offer, tender
offer or other agreement shall not be deemed to be owned by such entity until legal title to such Notes passes to such entity.

 

Section 2.10.    Reserved.

 

Section 2.11.   Cancellation.
The Issuer at any time may deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder or
which the Issuer may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly cancelled by the Trustee.
All Notes surrendered for registration of transfer, exchange or payment, if surrendered to any Person other than the Trustee, shall
be delivered to the Trustee. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange,
payment, replacement or cancellation. Subject to Section 2.7, the Issuer may not issue new Notes to replace Notes that it
has redeemed or paid or that have been delivered to the Trustee for cancellation. All cancelled Notes held by the Trustee shall
be disposed of in accordance with its retention policy then in effect, and certification of their disposal delivered to the Issuer
upon its written request therefor.

 

Section 2.12.   Defaulted
Interest. If the Issuer defaults in a payment of interest on the Notes, it shall pay the defaulted interest in any lawful manner
plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special
record date, which date shall be the earliest practicable date but in all events at least five (5) Business Days prior to the payment
date, in each case at the rate provided in the Notes and in Section 4.1. The Issuer shall fix or cause to be fixed each
such special record date and payment date and shall promptly thereafter notify the Trustee of any such date. At least 15 days before
the special record date, the Issuer (or, at the request of the Issuer, the Trustee, in the name and at the expense of the Issuer)
shall mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount
of such interest to be paid. The Trustee will have no duty whatsoever to determine whether any defaulted interest is payable or
the amount thereof.

 

Section 2.13.    Computation
of Interest. Interest, if any, on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months.

 

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Section 2.14.    CUSIP
Number. The Issuer in issuing the Notes may use a “CUSIP” number, and if it does so, the Trustee shall use the
CUSIP number in notices of redemption or exchange as a convenience to Holders; provided that any such notice may state that
no representation is made as to the correctness or accuracy of the CUSIP number printed in the notice or on the Notes and that
reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption or exchange shall
not be affected by any defect in or omission of such numbers. The Issuer shall promptly notify the Trustee in writing of any change
in any CUSIP number.

 

Section 2.15.    Special
Transfer Provisions. Each Note issued pursuant to an exemption from registration under the Securities Act (other than in reliance
on Regulation S) will constitute a Transfer Restricted Note and be required to bear the Restricted Notes Legend until the date
that is six months after the later of the date of original issue and the last date on which the Issuer or any affiliate (within
the meaning of Rule 405 under the Securities Act) of the Issuer was the owner of such Notes (or any predecessor thereto), unless
and until such Transfer Restricted Note is transferred or exchanged pursuant to an effective registration statement under the Securities
Act.

 

(a)          Transfers
to QIBs. The following provisions shall apply with respect to the registration of any proposed transfer of a Note issued in
reliance on Regulation S to a QIB:

 

(1)       The
Registrar shall register the transfer of a Note issued in reliance on Regulation S by a Holder to a QIB if such transfer is being
made by a proposed transferor who has provided the Registrar with (a) an appropriately completed certificate of transfer in the
form attached to the Note and (b) a certificate substantially in the form set forth in Exhibit C from the proposed transferor;
provided that the letter required by this clause (b) shall only be required prior to the expiration of the Restricted
Period.

 

(2)       If
the proposed transferee is a Participant and the Note to be transferred consists of an interest in the Regulation S Global Note,
upon receipt by the Registrar of (x) the items required by paragraph 2.15(a)(1) above and (y) instructions given in accordance
with the Depositary’s and the Registrar’s procedures therefor, the Registrar shall reflect on its books and records
the date and an increase in the principal amount of the Rule 144A Global Note in an amount equal to the principal amount of the
beneficial interest in the Regulation S Global Note to be so transferred, and the Registrar shall reflect on its books and records
the date and a corresponding decrease in the principal amount of such Regulation S Global Note in an amount equal to the principal
amount of the beneficial interest in such Regulation S Global Note to be so transferred.

 

(b)         Transfers
Pursuant to Regulation S. The following provisions shall apply with respect to registration of any proposed transfer of a Transfer
Restricted Note pursuant to Regulation S:

 

(1)       The
Registrar shall register any proposed transfer of a Transfer Restricted Note by a Holder pursuant to Regulation S upon receipt
of (a) an appropriately completed certificate of transfer in the form attached to the Note and (b) a certificate substantially
in the form set forth in Exhibit D hereto from the proposed transferor.

 

(2)       If
the proposed transferee is a Participant and the Transfer Restricted Note to be transferred consists of an interest in the Rule
144A Global Note or the IAI Global Note upon receipt by the Registrar of (x) the letter, if any, required by paragraph 2.15(b)(1)
above and (y) instructions in accordance with the Depositary’s and the Registrar’s procedures therefor, the Registrar
shall reflect on its books and records the date and an increase in the principal amount of the Regulation S Global Note in an
amount equal to the principal amount of the beneficial interest in the Rule 144A Global Note or the IAI Global Note to be transferred,
and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of the
Rule 144A Global Note or the IAI Global Note in an amount equal to the principal amount of the beneficial interest in such Rule
144A Global Note or the IAI Global Note to be transferred. 

 

    	 	36	 

     

    

  

(c)          Transfers
to IAIs. The following provisions shall apply with respect to the registration of any proposed transfer of a Note issued in
reliance on Rule 144A or Regulation S to an IAI:

 

(1)       The
Registrar shall register the transfer of a Note issued in reliance on Rule 144A or Regulation S by a Holder to an IAI if such transfer
is being made by a proposed transferor who has provided the Registrar with (a) an appropriately completed certificate of transfer
in the form attached to the Note and (b) a certificate substantially in the form set forth in Exhibit E from the proposed
transferor.

 

(2)       If
the proposed transferee is a Participant and the Note to be transferred consists of an interest in the Rule 144A Global Note or
the Regulation S Global Note, upon receipt by the Registrar of (x) the items required by paragraph 2.15(c)(1) above and
(y) instructions given in accordance with the Depositary’s and the Registrar’s procedures therefor, the Registrar shall
reflect on its books and records the date and an increase in the principal amount of the IAI Global Note in an amount equal to
the principal amount of the beneficial interest in the Rule 144A Global Note or the Regulation S Global Note to be so transferred,
and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of such
144A Global Note or the Regulation S Global Note in an amount equal to the principal amount of the beneficial interest in such
144A Global Note or Regulation S Global Note to be so transferred.

 

(d)          In
the event that a Global Note is exchanged for Notes in certificated, registered form pursuant to Section 2.6, such Notes
may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of clauses (a),
(b) and (c) of this Section 2.15 above (including the certification requirements intended to ensure that such
transfers comply with Rule 144A, Regulation S or other applicable exemption, as the case may be) and such other procedures as may
from time to time be adopted by the Issuer and notified to the Trustee in writing.

 

(e)          Restricted
Notes Legend. Upon the transfer, exchange or replacement of Notes not bearing the Restricted Notes Legend, the Registrar shall
deliver Notes that do not bear the Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes bearing the Restricted
Notes Legend, the Registrar shall deliver only Notes that bear the Restricted Notes Legend unless there is delivered to the Registrar
an Opinion of Counsel reasonably satisfactory to the Issuer to the effect that neither such legend nor the related restrictions
on transfer are required in order to maintain compliance with the provisions of the Securities Act.

 

(f)           Regulation
S Legend. Upon the transfer, exchange or replacement of Notes not bearing the Regulation S Legend, the Registrar shall deliver
Notes that do not bear the Regulation S Legend. Upon the transfer, exchange or replacement of Notes bearing the Regulation S Legend,
the Registrar shall deliver only Notes that bear the Regulation S Legend unless there is delivered to the Registrar an Opinion
of Counsel reasonably satisfactory to the Issuer to the effect that neither such legend nor the related restrictions on transfer
are required in order to maintain compliance with the provisions of the Securities Act.

 

(g)          General.
By its acceptance of any Note bearing the Restricted Notes Legend or the Regulation S Legend, as applicable, each Holder of such
a Note acknowledges the restrictions on transfer of such Note set forth in this Indenture and in the Restricted Notes Legend or
the Regulation S Legend, as applicable, and agrees that it shall transfer such Note only as provided in this Indenture. A transfer
of a beneficial interest in a Global Note that does not involve an exchange of such interest for a certificated Note or a beneficial
interest in another Global Note shall be subject to compliance with applicable law and the applicable procedures of the Depositary
but is not subject to any procedure required by this Indenture.

 

    	 	37	 

     

    

  

In connection with
any proposed transfer pursuant to Regulation S or pursuant to any other available exemption from the registration requirements
of the Securities Act (other than pursuant to Rule 144A), the Issuer may require the delivery of an Opinion of Counsel, other certifications
or other information satisfactory to the Issuer.

 

The Registrar shall
retain copies of all letters, notices and other written communications received pursuant to this Section 2.15.

 

Section 2.16.    Issuance
of Additional Notes. The Issuer shall be entitled to issue Additional Notes, in an unlimited aggregate principal amount under
this Indenture that shall have identical terms as the Initial Notes, other than with respect to the date of issuance, issue price,
amount of interest payable on the first interest payment date applicable thereto and transfer restrictions; provided that
such issuance is not prohibited by the terms of this Indenture, including Section 4.9; provided, further,
that if any Additional Notes are not fungible with the Initial Notes for U.S. federal income tax purposes, such Additional Notes
shall have a separate CUSIP number from the Initial Notes. The Initial Notes and any Additional Notes shall be treated as a single
class for all purposes under this Indenture.

 

With respect to any
Additional Notes, the Issuer shall set forth in an Officers’ Certificate, a copy of which shall be delivered to the Trustee,
the following information:

 

(1)       the
aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture;

 

(2)       the
issue price, the issue date, the CUSIP number of such Additional Notes, the first interest payment date and the amount of interest
payable on such first interest payment date applicable thereto and the date from which interest shall accrue;

 

(3)       whether
such Additional Notes shall be Transfer Restricted Notes; and

 

(4)       that
such issuance is not prohibited by this Indenture.

 

The Trustee shall,
upon receipt of the Officers’ Certificate and Opinion of Counsel, authenticate the Additional Notes in accordance with the
provisions of Section 2.2 of this Indenture.

 

Section 2.17.    Additional
Amounts.

 

(a)       Payments
made by or on behalf of the Issuer or any Guarantor, as applicable, on, or in respect of, the Notes or the Guarantee shall be made
free and clear of and without withholding or deduction for, or on account of, any present or future income, stamp or other tax,
duty, levy, impost, assessment or other similar governmental charge, including related penalties and interest (collectively, “Taxes”),
unless the Issuer, any Guarantor or a paying agent is required to withhold or deduct such amounts by law.

 

(b)          If
the Issuer, any Guarantor or a paying agent is required to withhold or deduct any amount for or on account of Taxes imposed or
levied by or on behalf of the government of the United Kingdom, France or any other jurisdiction (other than the United States)
in which the Issuer or any Guarantor is organized or resident for tax purposes or from or through which payments by or on behalf
of the Issuer or any Guarantor are made (each, a “Taxing Jurisdiction”), or any political subdivision or territory
of a Taxing Jurisdiction or by any authority or agency therein or thereof having the power to tax, from any payment made with respect
to the Notes or the Guarantee, the Issuer or such Guarantor shall pay such additional amounts (“Additional Amounts”)
as may be necessary so that the net amount received by each holder (including Additional Amounts) after such withholding or deduction
shall not be less than the amount the holder would have received in respect of such payment on the Notes or the Guarantee if such
Taxes had not been withheld or deducted; provided that no Additional Amounts shall be payable with respect to Taxes:

 

    	 	38	 

     

    

  

(1)       that
would not have been imposed or levied but for the existence of any present or former connection (other than the mere acquisition,
ownership or holding of, or the receipt of payment or the exercise or enforcement of rights in respect of, the Notes) between such
holder or beneficial owner of the Notes (or between a fiduciary, settlor, beneficiary, partner, member or shareholder of, or possessor
of power over, the relevant holder or the beneficial owner, if such holder or beneficial owner is an estate, nominee, trust, partnership,
limited liability company or corporation) and a Taxing Jurisdiction or any political subdivision or territory thereof or therein
or area subject to its jurisdiction, including, without limitation, such holder or beneficial owner being or having been a citizen
or resident thereof or treated as a resident thereof or domiciled therein or a national thereof or being or having been present
or engaged in trade or business therein or having or having had a permanent establishment therein;

 

(2)       that
are estate, inheritance, gift, sales, excise, transfer, personal property, wealth or similar Taxes;

 

(3)       payable
other than by deduction or withholding from payments of principal and premium, if any, or interest on the Notes or the Guarantee;

 

(4)       that
would not have been imposed but for the failure of the applicable recipient of such payment to comply with any certification, identification,
information, documentation or other reporting requirement to the extent: (a) such compliance is required by applicable law or official
administrative practice or an applicable treaty as a precondition to exemption from, or reduction in, the rate of deduction or
withholding of such Taxes (including, without limitation, a certification that the holder or beneficial owner is not resident in
a Taxing Jurisdiction); and (b) at least 30 days before the first payment date with respect to which such Additional Amounts shall
be payable, the Issuer has notified such recipient in writing that such recipient is required to comply with such requirement;

 

(5)       that
would not have been imposed but for the presentation of a Note (where presentation is required) for payment on a date more than
30 days after the date on which such payment became due and payable or the date on which payment thereof was duly provided for,
whichever occurred later;

 

(6)       that
are imposed or withheld pursuant to Sections 1471 through 1474 of the Code, as of the issue date of the Notes (or any amended or
successor version of such sections), any regulations promulgated thereunder, any official interpretations thereof, any similar
law, or regulation, rule or practice adopted pursuant to or implementing an intergovernmental agreement between a non-U.S. jurisdiction
and the United States with respect to the foregoing or any agreements entered into pursuant to Section 1471(b)(1) of the Code;
or

 

(7)       
any combination of the foregoing items.

 

(c)          All
references in this Indenture or the Notes to the payment of the principal of or premium, if any, or interest on the Notes
shall be deemed to include Additional Amounts to the extent that, in that context, Additional Amounts are, were or would be payable.
The obligations of the Issuer and any Guarantor to pay Additional Amounts if and when due shall survive the termination of this
Indenture and the payment of all other amounts in respect of the Notes.

 

    	 	39	 

     

    

   

(d)          The
Issuer shall provide the Trustee with the official acknowledgment of the Taxing Jurisdiction (or, if such acknowledgment is not
obtained by the Issuer despite it having used all reasonable efforts to do so, other reasonable documentation) evidencing any payment
of any Taxes in respect of which the Issuer has paid any Additional Amounts. Copies of such documentation shall be made available
by the Trustee to the holders or beneficial owners of the Notes or the paying agent, as applicable, upon written request therefor.

 

(e)          The
Issuer shall pay any stamp, issue, excise, property, registration, court, documentary or other similar taxes and duties (other
than, in each case, any such amounts imposed on or measured by net wealth of a holder), including interest, penalties and other
liabilities related thereto, imposed by a Taxing Jurisdiction in respect of the creation, issue, delivery, enforcement, registration
and offering of the Notes as contemplated hereunder, the initial sale of the Notes by the initial purchasers as contemplated in
the Offering Memorandum, or the execution of the Notes, this Indenture or any other related document or instrument, and the Issuer
shall indemnify the holders and beneficial owners of the Notes from and against any such amounts paid by such holders or beneficial
owners.

 

ARTICLE
III

REDEMPTION AND PREPAYMENT

 

Section 3.1.    Notices
to Trustee. If the Issuer elects to redeem Notes pursuant to the optional redemption provisions of Section 3.7, it shall
furnish to the Trustee, at least five Business Days (or such shorter period as is acceptable to the Trustee) before sending a notice
of such redemption, an Officers’ Certificate setting forth the (i) section of this Indenture pursuant to which the redemption
shall occur, (ii) redemption date and (iii) principal amount of Notes to be redeemed.

 

Section 3.2.     Selection
of Notes to Be Redeemed. In the event that less than all of the Notes are to be redeemed at any time, the Trustee shall select
the Notes to be redeemed among the Holders on a pro rata basis (except that any Notes represented by a Global Note will be redeemed
by such method the Depositary may require); provided, however that no Notes of $2,000 in original principal amount
or less shall be selected for redemption in part.

 

On and after the redemption
date, unless the Issuer defaults in the payment of the redemption price, interest will cease to accrue on Notes or portions of
them called for redemption so long as the Issuer has deposited with the Paying Agent funds in satisfaction of the applicable redemption
price pursuant to this Indenture (including accrued and unpaid interest on the Notes to be redeemed). The Trustee shall promptly
notify the Issuer in writing of the Notes selected for redemption. The Trustee may select for redemption portions (equal to $1,000
or any integral multiples of $1,000 thereof) of the principal of the Notes that have minimum denominations larger than $2,000.

 

Section 3.3.     Notice
of Optional Redemption. The Issuer shall deliver or cause to be delivered in accordance with Section 11.2, a notice
of optional redemption to each Holder whose Notes are to be redeemed (with a copy to the Trustee), at least 15 days but not more
than 60 days before a redemption date (except that notices may be delivered more than 60 days before a redemption date if the notice
is issued in connection with a defeasance or discharge of this Indenture pursuant to Article VIII). Any notice of redemption
may, at the Issuer’s discretion, be subject to one or more conditions precedent. If such redemption is subject to satisfaction
of one or more conditions precedent, such notice shall describe each such condition, and if applicable, shall state that, in the
Issuer’s discretion, the redemption date may be delayed until such time (including more than 60 days after the date the notice
of redemption was mailed or delivered, including by electronic transmission) as any or all such conditions are satisfied (or waived
by the Issuer in its sole discretion), or that such redemption may not occur and such notice may be rescinded in the event that
any or all such conditions are not satisfied (or waived by the Issuer in its sole discretion) by the redemption date, or by the
redemption date as so delayed, or that such notice may be rescinded at any time in the Issuer’s discretion if as determined
in good faith by the Issuer, any or all of such conditions will not be satisfied. The Issuer shall provide the Trustee with written
notice of the satisfaction or waiver of such conditions precedent, the delay of such redemption or the rescission of such notice
of redemption in the same manner that the related notice of redemption was given to the Trustee, and the Trustee shall send a copy
of such notice to the Trustee to the Holders in the same manner that the related notice of redemption was given to such Holders.
In addition, the Issuer may provide in such notice that payment of the redemption price and performance of the Issuer’s obligations
with respect to such redemption may be performed by another Person.

 

    	 	40	 

     

    

  

The notice shall identify
the Notes to be redeemed (including “CUSIP” numbers and corresponding “ISINs”, if applicable) and shall
state:

 

(1)       the
redemption date;

 

(2)       the
redemption price (or the method by which it is to be determined);

 

(3)       if
any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the redemption
date, upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued upon
cancellation of the original Note (or appropriate adjustments to the amount and beneficial interests in a Global Note will be made,
as appropriate);

 

(4)       the
name and address of the Paying Agent;

 

(5)       that
Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(6)       that,
unless the Issuer defaults in making such redemption payment, interest, if any, on Notes called for redemption ceases to accrue
on and after the redemption date;

 

(7)       the
paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are being redeemed;

 

(8)       that
no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the
Notes; and

 

(9)       any
conditions precedent to such redemption.

 

At the Issuer’s
written request, the Trustee shall give the notice of redemption in the Issuer’s name and at the Issuer’s expense;
provided, however, that the Issuer shall have delivered to the Trustee, at least 10 days prior to the date of the
giving of the notice of redemption (or such shorter period as is acceptable to the Trustee), an Officers’ Certificate requesting
that the Trustee give such notice and setting forth the information to be stated in the notice as provided in the preceding paragraph.
The notice sent in the manner herein provided shall be deemed to have been duly given whether or not the Holder receives such notice.
In any case, failure to give such notice or any defect in the notice to the Holder of any Note shall not affect the validity of
the proceeding for the redemption of any other Note.

 

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Section 3.4.     Effect
of Notice of Redemption. Once notice of redemption is delivered in accordance with Section 3.3, Notes called for redemption
become due and payable on the redemption date at the applicable redemption price, subject to satisfaction of any conditions specified
in the notice of redemption and as further contemplated by the first paragraph of Section 3.3.

 

Section 3.5.     Deposit
of Redemption Price. On or before 11:00 a.m. (New York City time) on the redemption date, the Issuer shall deposit with the
Trustee or with the Paying Agent (other than the Issuer or an Affiliate of the Issuer) money sufficient to pay the redemption price
on all Notes to be redeemed on that date. The Trustee or the Paying Agent shall promptly return to the Issuer any money deposited
with the Trustee or the Paying Agent by the Issuer in excess of the amounts necessary to pay the redemption price of all Notes
to be redeemed.

 

If Notes called for
redemption are paid or if the Issuer has deposited with the Trustee or Paying Agent money sufficient to pay the redemption price
of, and unpaid and accrued interest, if any, on, all Notes to be redeemed, on and after the redemption date, and interest, if any,
shall cease to accrue on the Notes or the portions of Notes called for redemption (regardless of whether certificates for such
securities are actually surrendered). If a Note is redeemed on or after an interest record date but on or prior to the related
interest payment date, then any accrued and unpaid interest, if any, shall be paid to the Person in whose name such Note was registered
at the close of business on such record date. If any Note called for redemption shall not be so paid upon surrender for redemption
because of the failure of the Issuer to comply with the preceding paragraph, and interest, if any, shall be paid on the unpaid
principal from the redemption date until such principal is paid, and to the extent lawful on any interest, if any, not paid on
such unpaid principal, in each case, at the rate provided in the Notes and in Section 4.1.

 

Section 3.6.     Notes
Redeemed in Part. Upon surrender and cancellation of a Note that is redeemed in part, the Issuer shall issue and, upon the
written request of an Officer of the Issuer, the Trustee shall authenticate for the Holder at the expense of the Issuer a new Note
equal in principal amount to the unredeemed portion of the Note surrendered and canceled; provided that each such new Note
will be in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof.

 

Section 3.7.      Optional
Redemption.

 

(a)          The
Notes may be redeemed, in whole or in part, at any time or from time to time prior to February 1, 2023 at the option of the Issuer,
upon notice as provided in Section 3.3, at a redemption price equal to 100.0% of the principal amount of the Notes redeemed
plus the Applicable Premium, and accrued and unpaid interest thereon, if any, to, but excluding, the redemption date (subject to
the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date that is
on or prior to the redemption date). The Issuer will calculate the Treasury Rate and Applicable Premium and, prior to the redemption
date, provide an Officers’ Certificate to the Trustee setting forth the Treasury Rate and the Applicable Premium and showing
the calculation of each in reasonable detail.

 

    	 	42	 

     

    

  

(b)          At
any time or from time to time on or after February 1, 2023, the Issuer, at its option, may redeem the Notes in whole or in part,
upon notice as provided in Section 3.3, at the redemption prices (expressed as percentages of principal amount of the Notes
to be redeemed) set forth below, together with accrued and unpaid interest thereon, if any, to, but excluding, the applicable redemption
date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment
date that is on or prior to the redemption date), if redeemed during the 12-month period beginning February 1 of the years indicated
below:

 

	Year	 	Redemption Price	 
	2023	 	 	103.250	%
	2024	 	 	101.625	%
	2025 and thereafter	 	 	100.000	%

 

(c)          At
any time or from time to time prior to February 1, 2023, the Issuer, at its option, may on any one or more occasions redeem up
to 40.0% of the principal amount of the outstanding Notes issued under this Indenture, upon notice as provided in Section 3.3,
in an amount not greater than the net cash proceeds of one or more Qualified Equity Offerings at a redemption price equal to 106.500%
of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption
(subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment
date); provided that:

 

(1)       at
least 60.0% of the aggregate principal amount of Notes originally issued under this Indenture on the Issue Date (excluding Notes
held by the Issuer and its Subsidiaries) remains outstanding immediately after giving effect to any such redemption; and

 

(2)       the
redemption occurs not more than 180 days after the date of the closing of any such Qualified Equity Offering.

 

(d)         The
Issuer may redeem Notes as provided in Section 4.13.

 

(e)         The
Issuer may acquire Notes by means other than a redemption, whether pursuant to a tender offer, open market purchase, negotiated
transaction or otherwise, in accordance with applicable securities laws.

 

Section 3.8.     Optional
Tax Redemption.

 

(a)         The
Issuer (or an applicable successor person) may redeem the Notes in whole, but not in part, at its option at any time prior to maturity,
upon the giving of not less than 30 nor more than 90 days’ notice of tax redemption to the holders, at a redemption price
equal to the principal amount of the Notes plus accrued and unpaid interest, if any, to, but excluding, the redemption date, if:

 

(1)       as
a result of any change in, amendment to or announced proposed change in the laws or any regulations, protocols or rulings (including
a holding, judgment or order by a governmental agency or court of competent jurisdiction) promulgated thereunder of a Taxing Jurisdiction
(or of any political subdivision, territory or taxing authority thereof) or, in the event of the assumption of its obligations
under the Notes by a successor person not organized under the laws of a Taxing Jurisdiction (as described in Section 5.1),
the jurisdiction in which such successor person is organized or resident (or deemed resident for tax purposes) (or, in each case,
any political subdivision, territory or taxing authority thereof), or any change in the application or official interpretation
of such laws, regulations, protocols or rulings (including a holding, judgment or order by a governmental agency or court of competent
jurisdiction), or (in either case) any change in the application or official interpretation of, or any execution of or amendment
to, any treaty or treaties (including protocols) affecting taxation to which any such jurisdiction is a party, which change, execution
or amendment becomes effective on or after (i) the issue date of the Notes or (ii) in the event of the assumption of the Issuer’s
obligations under this Indenture and the Notes by a successor person not organized under the laws of a Taxing Jurisdiction (as
described in Section 5.1), with respect to taxes imposed by the jurisdiction in which such successor person is organized
or resident (or deemed resident for tax purposes), the date of the transaction resulting in such assumption and, (2) in the case
of either of (i) or (ii), the Issuer or such successor person, as applicable, would be required to pay Additional Amounts with
respect to the Notes on the next succeeding payment date with respect to the Notes and the payment of such Additional Amounts cannot
be avoided by the use of reasonable measures available to the Issuer or such successor person, as applicable; provided that changing
the jurisdiction of the Issuer is not a reasonable measure for purposes of this section.

 

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(b)       No
notice of any such redemption may be given earlier than 90 days prior to the earliest date on which the Issuer or such successor
person, as applicable, would be obligated to pay any Additional Amounts.

 

(c)       The
Issuer or such successor person shall also pay to each holder, or make available for payment to each such holder, on the redemption
date, any Additional Amounts resulting from the payment of such redemption price by it. Prior to the delivery of any notice of
redemption, the Issuer or such successor person shall deliver to the Trustee (i) an Officer’s Certificate stating that the
requirements referred to in (1) and (2) above are satisfied, and (ii) an Opinion of Counsel to the effect that the Issuer or such
successor person, as applicable, has or will become obliged to pay such Additional Amounts, as a result of the change or amendment,
in each case to be held by the Trustee and made available for viewing at the offices of the Trustee on written request by any holder.
Delivery of any notice of redemption shall be conclusive and binding on the holders of the Notes being redeemed.

 

(d)       Any
notice of redemption shall be irrevocable once an Officer’s Certificate has been delivered to the Trustee.

 

Section 3.9.      Special
Mandatory Redemption.

 

(a)       (x)
In the event that (1) the Spinoff is not consummated on or prior to July 31, 2021 or (y) the Spinoff is terminated or abandoned
at any time on or prior to July 31, 2021 (such termination or abandonment to be communicated in writing by the Issuer to the Trustee
in order for this clause (y) to be effective) (any such event in clauses (x) or (y) being a “Special Mandatory Redemption
Event”), the Issuer will redeem all of the Notes (the “Special Mandatory Redemption”), at a price
equal to 100% of the issue price of the Notes plus accrued and unpaid interest to, but excluding, the Special Mandatory Redemption
Date (as defined below) (the “Special Mandatory Redemption Price”). 

 

(b)       Notice
of the occurrence of a Special Mandatory Redemption Event and that a Special Mandatory Redemption is to occur (the “Special
Mandatory Redemption Notice”), shall be delivered to the Trustee and delivered to Holders of Notes according to the
procedures of DTC within ten Business Days after the Special Mandatory Redemption Event. At the Issuer’s written request,
the Trustee shall give the Special Mandatory Redemption Notice in the Issuer’s name and at the Issuer’s expense; provided,
however, that the Issuer shall have delivered to the Trustee, at least three Business Days prior to the date of the giving of
the Special Mandatory Redemption Notice (or such shorter period as is acceptable to the Trustee), an Officers’ Certificate
requesting that the Trustee give such notice and setting forth the information to be stated in the notice. On the redemption date
specified in the Special Mandatory Redemption Notice, which shall be no more than ten Business Days (or such other minimum period
as may be required by DTC) after mailing or sending the Special Mandatory Redemption Notice, the special mandatory redemption
shall occur (the date of such redemption, the “Special Mandatory Redemption Date”).

 

(c)       If
funds sufficient to pay the Special Mandatory Redemption Price of all of the Notes on the Special Mandatory Redemption Date are
deposited with a Paying Agent or the Trustee on or before such Special Mandatory Redemption Date, then on and after such Special
Mandatory Redemption Date, the Notes shall cease to bear interest and, other than the right to receive the Special Mandatory Redemption
Price, all rights under such Notes shall terminate.

 

(d)       Upon
the consummation of the Spinoff, this Section 3.9 will cease to apply.

 

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Section 3.10.   Certain Tender Offers. If Holders of
not less than 90.0% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes in such
tender offer and the Issuer, or any third party approved in writing by the Issuer making such tender offer in lieu of the Issuer,
purchases all of the Notes validly tendered and not withdrawn by such Holders, the Issuer or such third party shall have the right
upon not less than 15 nor more than 60 days’ prior notice, given not more than 30 days following any such purchase date,
to redeem (with respect to the Issuer) or purchase (with respect to a third party) all Notes that remain outstanding following
such purchase at a price equal to the price paid to each other Holder in such tender offer plus, to the extent not included in
the tender offer payment, accrued and unpaid interest, if any, thereon, to, but excluding, the redemption date or purchase date,
subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment
date falling on or prior to the redemption date or purchase date.

 

ARTICLE
IV

COVENANTS

 

Section 4.1.      Payment of
Notes.

 

(a)       The
Issuer shall pay or cause to be paid the principal of, premium, if any, and interest on the Notes on the dates and in the manner
provided in the Notes. Principal, premium, if any, and interest shall be considered paid for all purposes hereunder on the date
the Trustee or the Paying Agent (if other than the Issuer or a Subsidiary thereof) holds, as of 11:00 a.m. (New York City time)
on the relevant payment date, U.S. dollars deposited by the Issuer in immediately available funds and designated for and sufficient
to pay all such principal, premium, if any, and interest then due. The Issuer shall pay interest (including post-petition interest
in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to the then applicable interest rate on the
Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law)
on overdue installments of interest (without regard to any applicable grace period), at the same rate to the extent lawful.

 

Section 4.2.     Maintenance
of Office or Agency. The Issuer shall maintain an office or agency where Notes may be surrendered for registration of transfer
or for exchange and where notices and demands to or upon the Issuer and Guarantors in respect of the Notes and this Indenture may
be served. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such
office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish
the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate
Trust Office of the Trustee.

 

The Issuer may also
from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations. The Issuer shall give prompt written notice to the Trustee of
any such designation or rescission and of any change in the location of any such other office or agency.

 

The Issuer hereby designates
the Corporate Trust Office of the Trustee as one such office or agency of the Issuer in accordance with Section 2.3.

 

Section 4.3.     Provision
of Financial Information.

 

(a)          Whether
or not required by the SEC, so long as any Notes are outstanding, the Issuer shall furnish to the Trustee and the Holders, or,
to the extent permitted by the SEC, file electronically with the SEC through the SEC’s Electronic Data Gathering, Analysis
and Retrieval System (“EDGAR”) (or any successor system) within the time periods specified in the SEC’s
rules and regulations after giving effect to any applicable grace periods therein:

 

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(1)       all
quarterly and annual reports that would be required to be filed with the SEC on Forms 10-Q and 10-K if the Issuer were required
to file such reports; and

 

(2)       all
current reports that would be required to be filed with the SEC on Form 8-K if the Issuer were required to file such reports;

 

provided that the above information
will not be required to contain (a) the separate financial information for Guarantors as contemplated by Rule 3-10 of Regulation
S-X, (b) any financial statements of unconsolidated subsidiaries or 50% or less owned persons as contemplated by Rule 3-09 of Regulation
S-X, (c) any information contemplated by Rule 3-16 of Regulation S-X, (d) any schedules required by Regulation S-X, or (e) in each
such case, any successor provisions. If the Issuer becomes a Subsidiary of any parent company, which parent company provides a
guarantee of the Notes, then the reports required to be filed pursuant to this Section 4.3 by the Issuer may instead by
filed by such parent in lieu thereof.

 

(b)          If
the Issuer has designated any of its Subsidiaries as Unrestricted Subsidiaries, and such Unrestricted Subsidiaries, individually
or taken together, would constitute a Significant Subsidiary, then the quarterly and annual financial information required by Section
4.3(a) will include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes
thereto, and in Management’s Discussion and Analysis of Financial Condition and Results of Operations, of the financial condition
and results of operations of the Issuer and its Restricted Subsidiaries excluding the Unrestricted Subsidiaries.

 

(c)          So
long as any Notes are outstanding (unless restricted by law, including in connection with any proposed securities offering), the
Issuer will also:

 

(1)       not
later than 15 Business Days after filing or furnishing a copy of each of the reports referred to in clause (1) of Section
4.3(a) with the SEC or the Trustee, hold a conference call to discuss the results of operations for the relevant reporting
period, with the opportunity to ask questions of management (the Issuer may satisfy the requirements of this clause (1)
by holding the required conference call within the time period required by this clause (1) as part of any earnings call
of the Issuer or any parent); and

 

(2)       issue
a press release or otherwise publicly announce no fewer than two Business Days prior to the date of the conference call required
to be held in accordance with this paragraph, announcing the time and date of such conference call and either including all information
necessary to access the call or directing Holders, prospective investors, broker-dealers and securities analysts to contact the
appropriate person at the Issuer to contact the appropriate person at the Issuer to obtain such information.

 

(d)          To
the extent the Issuer is not required to file any of the reports required by Section 4.3(a) with the SEC, the Issuer shall
(i) maintain a public website on which the reports required by Section 4.3(a) are posted along with details regarding the
times and dates of conference calls required above and information on how to obtain access to such conference calls or (ii) file
such reports electronically with the SEC through EDGAR (or any successor system).

 

(e)          Any
and all Defaults arising from a failure to furnish in a timely manner any information or notice required by this covenant shall
be deemed cured (and the Issuer shall be deemed to be in compliance with this Section 4.3) upon furnishing such information
or notice as contemplated by this Section 4.3 (but without regard to the date on which such information or notice is so
furnished).

 

    	 	46	 

     

    

  

(f)           For
so long as any Notes remain outstanding, the Issuer shall furnish to the Holders and to securities analysts and prospective investors,
upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

 

(g)          Delivery
of such reports, information and documents to the Trustee is for informational purposes only, and the Trustee’s receipt thereof
shall not constitute actual or constructive knowledge or notice of any information contained therein or determinable from information
contained therein, including the Issuer’s, any Guarantor’s or any other person’s compliance with any of the covenants
in this Indenture or the Notes (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). The Trustee
will not be obligated to monitor or confirm, on a continuing basis or otherwise, the Issuer’s, any Guarantor’s or any
other person’s compliance with any of the covenants described herein or to determine whether such reports, information or
documents have been posted on any website or other online data system or filed with the SEC through EDGAR (or other applicable
system) or to participate in any conference calls.

 

Section 4.4.     Compliance
Certificate. The Issuer shall deliver to the Trustee, within 90 days after the end of each fiscal year beginning with the fiscal
year ending December 31, 2021, an Officers’ Certificate stating that a review of the activities of the Issuer and its Subsidiaries
during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether
each has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer
signing such certificate, that, to his or her knowledge, each entity has kept, observed, performed and fulfilled each and every
covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and
conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events
of Default of which he or she may have knowledge and what action the Issuer is taking or proposes to take with respect thereto)
and that, to his or her knowledge, no event has occurred and remains in existence by reason of which payments on account of the
principal of, premium, if any, or interest, if any, on the Notes is prohibited or if such event has occurred, a description of
the event and what action the Issuer is taking or proposes to take with respect thereto.

 

The Issuer shall, so
long as any of the Notes are outstanding, deliver to the Trustee, within 30 days after upon any Officer becomes aware of any Default
or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Issuer is taking
or proposes to take with respect thereto.

 

Section 4.5.     Taxes.
The Issuer shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency all material taxes, assessments and
governmental levies, except such as are contested in good faith and by appropriate proceedings and with respect to which appropriate
reserves have been taken in accordance with GAAP or where the failure to effect such payment is not adverse in any material respect
to the Holders of the Notes.

 

Section 4.6.     Stay,
Extension and Usury Laws. The Issuer and each of the Guarantors covenants (to the extent that it may lawfully do so) that it
shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension
or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this
Indenture, and the Issuer and each of the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit
or advantage of any such law, and covenants that it shall not, by resort to any such law, hinder, delay or impede the execution
of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law
has been enacted.

 

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Section 4.7.     Limitation
on Restricted Payments.

 

(a)          The
Issuer shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, make any Restricted Payment if at
the time of such Restricted Payment:

 

(1)       a
Payment Default or Event of Default shall have occurred and be continuing or shall occur as a consequence thereof;

 

(2)       the
Issuer is not able to incur at least $1.00 of additional Indebtedness pursuant to the Coverage Ratio Exception; or

 

(3)       the
amount of such Restricted Payment, when added to the aggregate amount of all other Restricted Payments made after the Issue Date
(other than Restricted Payments made pursuant to Section 4.7(b)(2) through Section 4.7(b)(11) or Section
4.7(b)(13)), exceeds the sum (the “Restricted Payments Builder Basket”) of (without duplication):

 

(A)       50.0%
of Consolidated Net Income of the Issuer and the Restricted Subsidiaries for the period (taken as one accounting period) commencing
on January 1, 2021 to and including the last day of the fiscal quarter ended immediately prior to the date of such calculation
for which consolidated financial statements are available (or, if such Consolidated Net Income shall be a deficit, minus 100.0%
of such deficit), plus

 

(B)       100.0%
of (i) the aggregate net cash proceeds, or the Fair Market Value of any assets or Equity Interests of any Person engaged in a Permitted
Business, in each case received by the Issuer or its Restricted Subsidiaries on or after the Issue Date (other than, for the avoidance
of doubt, in connection with the Spinoff Transactions) as a contribution to the Issuer’s common equity capital or from the
issue or sale of Qualified Equity Interests of the Issuer or from the issue or sale of convertible or exchangeable Disqualified
Equity Interests of the Issuer or convertible or exchangeable debt securities of the Issuer that have been converted into or exchanged
for such Qualified Equity Interests (other than Equity Interests or debt securities issued or sold to a Subsidiary of the Issuer
or net cash proceeds received by the Issuer from Qualified Equity Offerings to the extent applied to redeem the Notes in accordance
with the provisions set forth under Section 3.7(c)), and (ii) the aggregate net cash proceeds, if any, received by the Issuer
or any of its Restricted Subsidiaries upon any conversion or exchange described in clause (i) above, plus

 

(C)       in
the case of the disposition or repayment of or return on any Investment that was treated as a Restricted Payment made by the Issuer
after the Issue Date (other than, for the avoidance of doubt, in connection with the Spinoff Transactions), an amount (to the extent
not included in the computation of Consolidated Net Income) equal to 100.0% of the aggregate amount received by the Issuer or any
Restricted Subsidiary in cash or other property (valued at the Fair Market Value thereof) as the return of capital with respect
to such Investment, plus

 

(D)       upon
a Redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary, an amount (to the extent not included in the computation
of Consolidated Net Income) equal to the lesser of (i) the Fair Market Value of the Issuer’s proportionate interest in such
Subsidiary immediately following such Redesignation, and (ii) the aggregate amount of the Issuer’s Investments in such Subsidiary
to the extent such Investments reduced the Restricted Payments Builder Basket and were not previously repaid or otherwise reduced;

 

provided, however, that, for
the avoidance of doubt, the calculations under the preceding clauses (A) through (D) (i) with respect to the period from the Issue
Date to and including the Effective Date, shall be calculated on a pro forma basis giving effect to the Spinoff and (ii) shall
not include any amounts attributable to, or arising in connection with, the Spinoff Transactions.

 

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(b)          Notwithstanding
the foregoing, Section 4.7(a) shall not prohibit:

 

(1)       the
payment of any dividend or redemption payment or the making of any distribution within 60 days after the date of declaration thereof
if, on the date of declaration, the dividend, redemption or distribution payment, as the case may be, would have complied with
the provisions of this Indenture;

 

(2)       any
Restricted Payment made in exchange for, or out of the proceeds of, the substantially concurrent issuance and sale of Qualified
Equity Interests;

 

(3)       the
purchase, repurchase, redemption, defeasance or other acquisition or retirement for value of Subordinated Indebtedness of the Issuer
or any Restricted Subsidiary in exchange for, or out of the proceeds of, the substantially concurrent incurrence of, Refinancing
Indebtedness permitted to be incurred under Section 4.9 and the other terms of this Indenture;

 

(4)       the
purchase, repurchase, redemption, defeasance or other acquisition or retirement for value of Subordinated Indebtedness of the Issuer
or any Restricted Subsidiary (A) at a purchase price not greater than 101.0% of the principal amount of such Subordinated Indebtedness
in the event of a Change of Control in accordance with provisions similar to Section 4.13 or (B) at a purchase price not
greater than 100.0% of the principal amount thereof in accordance with provisions similar to Section 4.10; provided
that, prior to or simultaneously with such purchase, repurchase, redemption, defeasance or other acquisition or retirement, the
Issuer has made the Change of Control Offer or Net Proceeds Offer, as applicable, as provided in such covenant with respect to
the Notes and has completed the repurchase or redemption of all Notes validly tendered for payment in connection with such Change
of Control Offer or Net Proceeds Offer;

 

(5)       so
long as no Default has occurred and is continuing or would result therefrom, the redemption, repurchase or other acquisition or
retirement for value of Equity Interests of the Issuer held by officers, directors or employees or former officers, directors or
employees (or their transferees, estates or beneficiaries under their estates), either (x) upon any such individual’s death,
disability, retirement, severance or termination of employment or service or (y) pursuant to any equity subscription agreement,
stock option agreement, stockholders’ agreement or similar agreement; provided, in any case, that the aggregate cash
consideration paid for all such redemptions, repurchases or other acquisitions or retirements shall not exceed (A) $50.0 million
during any calendar year (with unused amounts in any calendar year being carried forward to succeeding calendar years) plus (B)
the amount of any net cash proceeds received by or contributed to the Issuer from the issuance and sale after the Effective Date
of Qualified Equity Interests to its officers, directors or employees that have not been applied to the payment of Restricted Payments
pursuant to this clause (5), plus (C) the net cash proceeds of any “key-man” life insurance policies that have
not been applied to the payment of Restricted Payments pursuant to this clause (5);

 

(6)       (A)
repurchases, redemptions or other acquisitions or retirements for value of Equity Interests of the Issuer deemed to occur upon
the exercise of stock options, warrants, rights to acquire Equity Interests of the Issuer or other convertible securities to the
extent such Equity Interests of the Issuer represent a portion of the exercise or exchange price thereof and (B) any repurchase,
redemptions or other acquisitions or retirements for value of Equity Interests of the Issuer made in lieu of withholding taxes
in connection with any exercise or exchange of stock options, warrants or similar rights;

 

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(7)       so
long as no Payment Default or Event of Default has occurred and is continuing or would result therefrom, dividends or distributions
on Disqualified Equity Interests of the Issuer or any Restricted Subsidiary or on any Preferred Stock of any Restricted Subsidiary,
in each case issued in compliance with Section 4.9 to the extent such dividends or distributions are included in the definition
of Consolidated Interest Expense;

 

(8)       the
payment of cash in lieu of fractional Equity Interests of the Issuer;

 

(9)       payments
or distributions to dissenting stockholders pursuant to applicable law in connection with a merger, consolidation or transfer of
assets that complies with Section 5.1;

 

(10)       cash
distributions by the Issuer to the holders of Equity Interests of the Issuer in accordance with a distribution reinvestment plan
or dividend reinvestment plan to the extent such payments are applied to the purchase of Equity Interests directly from the Issuer;

 

(11)       [reserved];

 

(12)       so
long as no Payment Default or Event of Default has occurred and is continuing or would result therefrom, payment of other Restricted
Payments from time to time in an aggregate amount since the Effective Date not to exceed the greater of (a) $175.0 million and
(b) 1.75% of Consolidated Total Assets determined at the time of such Restricted Payment; or

 

(13)       (a)
any Restricted Payments by the RemainCo Group with or into the Technip Energies Group prior to the Effective Date; provided such
payments are made in the ordinary course of business and/or consistent with past practice and, in each case, not substantially
inconsistent with the Spinoff Documents and (b) any Restricted Payments attributable to, or arising in connection with, the Spinoff
Transactions or in furtherance of the Spinoff Documents.

 

provided that no issuance and sale
of Qualified Equity Interests used to make a payment pursuant to clauses (2) or (5)(B) above shall increase the Restricted
Payments Builder Basket to the extent of such payment.

 

For the purposes of
determining compliance with any U.S. dollar-denominated restriction on Restricted Payments denominated in a foreign currency, the
U.S. dollar-equivalent amount of such Restricted Payment shall be calculated based on the relevant currency exchange rate in effect
on the date that such Restricted Payment was made. The amount of any Restricted Payment (other than cash) will be the Fair Market
Value on the date of the Restricted Payment (or, in the case of a dividend, on the date of declaration) of the assets or securities
proposed to be transferred or issued by the Issuer or such Restricted Subsidiary, as the case may be, pursuant to the Restricted
Payment.

 

Section 4.8.Limitation
on Dividend and Other Restrictions Affecting Restricted Subsidiaries. (a) The Issuer shall not, and shall not permit any Restricted
Subsidiary to, directly or indirectly, create or otherwise cause or permit to exist or become effective any consensual encumbrance
or consensual restriction on the ability of any Restricted Subsidiary to:

 

(1)       pay
dividends or make any other distributions on or in respect of its Equity Interests to the Issuer or any of its Restricted Subsidiaries,
or with respect to any other interest or participation in, or measured by, its profits (it being understood that the priority of
any Preferred Stock in receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid
on Common Stock shall not be deemed a restriction on the ability to make distributions on Equity Interests);

 

    	 	50	 

     

    

   

(2)       make
loans or advances, or pay any Indebtedness or other obligation owed, to the Issuer or any other Restricted Subsidiary (it being
understood that the subordination of loans or advances made to the Issuer or any Restricted Subsidiary to other Indebtedness or
obligations incurred by the Issuer or any Restricted Subsidiary shall not be deemed a restriction on the ability to make loans
or advances); or

 

(3)       transfer
any of its property or assets to the Issuer or any other Restricted Subsidiary (it being understood that such transfers shall not
include any type of transfer described in clause (a) or (b) above);

 

(b)       Notwithstanding
the foregoing, Section 4.8(a) shall not prohibit:

 

(1)       encumbrances
or restrictions existing under the RCF Credit Agreement existing on the Effective Date or any other agreements existing on the
Issue Date;

 

(2)       encumbrances
or restrictions existing under this Indenture, the Notes and the Guarantees;

 

(3)       any
instrument governing Acquired Indebtedness or Equity Interests of a Person acquired by the Issuer or any of its Restricted Subsidiaries,
which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person
or the properties or assets of the Person so acquired;

 

(4)       any
agreement or other instrument of a Person acquired by the Issuer or any of its Restricted Subsidiaries in existence at the time
of such acquisition (but 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 and its Subsidiaries, or the property or assets of the Person
and its Subsidiaries, so acquired (including after acquired property);

 

(5)       any
amendment, restatement, modification, renewal, increases, supplement, refunding, replacement or refinancing of an agreement referred
to in clauses (1), (2), (3), (4) or (10) of this Section 4.8(b) or this clause (5);
provided, however, that such amendments, restatements, modifications, renewals, increases, supplements, refunding,
replacements or refinancing are, in the good faith judgment of the Issuer, not materially more restrictive, taken as a whole, than
the encumbrances and restrictions contained in the agreements referred to in such clauses on the Issue Date (except as provided
in clause (1) above) or the date such Restricted Subsidiary became a Restricted Subsidiary or was merged into a Restricted Subsidiary,
whichever is applicable;

 

(6)       encumbrances
or restrictions existing under or by reason of applicable law, regulation or order;

 

(7)       non-assignment
provisions of any contract or any lease entered into in the ordinary course of business;

 

(8)       in
the case of Section 4.8(a)(3) above, Liens permitted to be incurred under the provisions of Section 4.12 that limit
the right of the debtor to dispose of the assets securing such Indebtedness;

 

(9)       restrictions
imposed under any agreement to sell Equity Interests or assets, as permitted under this Indenture, to any Person pending the closing
of such sale;

 

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(10)     (A)
any other agreement governing Indebtedness or other obligations entered into after the Issue Date that contains encumbrances and
restrictions that in the good faith judgment of the Issuer are not materially more restrictive, taken as a whole, with respect
to any Restricted Subsidiary than those in effect on the Issue Date pursuant to agreements in effect on the Issue Date or those
contained in this Indenture, the Notes and the Guarantees or (B) any such encumbrance or restriction contained in agreements or
instruments governing such Indebtedness that is customary and does not prohibit (except upon a default or an event of default thereunder)
the payment of dividends in an amount sufficient, as determined by the Issuer in good faith, to make scheduled payments of cash
interest and principal on the Notes when due;

 

(11)     customary
provisions in partnership agreements, limited liability company organizational governance documents, joint venture agreements,
shareholder agreements and other similar agreements entered into in the ordinary course of business that restrict the disposition
or distribution of ownership interests in or assets of such partnership, limited liability company, joint venture, corporation
or similar Person;

 

(12)     Purchase
Money Indebtedness and any Refinancing Indebtedness in respect thereof incurred in compliance with Section 4.9 that imposes
restrictions of the nature described in Section 4.8(a)(3) on the assets acquired;

 

(13)     restrictions
on cash or other deposits or net worth imposed by customers, suppliers or landlords under contracts entered into in the ordinary
course of business;

 

(14)     any
encumbrance or restriction with respect to an Unrestricted Subsidiary pursuant to or by reason of an agreement that the Unrestricted
Subsidiary is a party to entered into before the date on which such Unrestricted Subsidiary became a Restricted Subsidiary; provided
that such agreement was not entered into in anticipation of the Unrestricted Subsidiary becoming a Restricted Subsidiary and any
such encumbrance or restriction shall not extend to any assets or property of the Issuer or any other Restricted Subsidiary other
than the assets and property so acquired;

 

(15)    with
respect to any Non-U.S. Restricted Subsidiary, any encumbrance or restriction contained in the terms of any Indebtedness or any
agreement pursuant to which such Indebtedness was incurred if either (A) the encumbrance or restriction applies only in the event
of a payment default or a default with respect to a financial covenant in such Indebtedness or agreement or (B) the Issuer determines
that any such encumbrance or restriction will not materially affect the Issuer’s ability to make principal or interest payments
on the Notes, as determined in good faith by the Board of Directors or senior management of the Issuer, whose determination shall
be conclusive;

 

(16)     supermajority
voting requirements existing under corporate charters, by-laws, stockholders agreements and similar documents and agreements; and

 

(17)    any
restrictions in the Spinoff Documents.

 

Section 4.9.     Limitation
on Additional Indebtedness.

 

(a)          The
Issuer shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, incur any Indebtedness (including
Acquired Indebtedness); provided that the Issuer may incur additional Indebtedness (including Acquired Indebtedness), in
each case, if, after giving effect thereto on a pro forma basis (including giving pro forma effect to the application of the proceeds
thereof), the Issuer’s Consolidated Interest Coverage Ratio would be at least 2.00 to 1.00 (the “Coverage Ratio
Exception”).

 

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(b)          Notwithstanding
the above, each of the following incurrences of Indebtedness shall be permitted (the “Permitted Indebtedness”):

 

(1)       Indebtedness
of the Issuer or any Restricted Subsidiary under one or more Debt Facilities in an aggregate principal amount at any time outstanding,
including the issuance and creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and
bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof) not to exceed the greater
of (A) $1,250.0 million and (B) 12.5% of the Issuer’s Consolidated Total Assets determined at the time of incurrence;

 

(2)       Indebtedness
represented by (A) the Initial Notes issued on the Issue Date (excluding any Additional Notes), and (B) the Guarantees of the Notes
issued on the Issue Date excluding any Additional Notes);

 

(3)       Indebtedness
of the Issuer and its Restricted Subsidiaries to the extent outstanding on both the Issue Date and the Effective Date after giving
effect to the Spinoff Transactions (other than Indebtedness referred to in clauses (1), (2), (4), (5),
(6), (7), (9) and (18) of this Section 4.9(b));

 

(4)       guarantees
by the Issuer of Indebtedness permitted to be incurred in accordance with the provisions of this Indenture; provided that
in the event such Indebtedness that is being guaranteed is Subordinated Indebtedness, then the related guarantee shall be subordinated
in right of payment to the Notes;

 

(5)       Indebtedness
under Hedging Obligations entered into for bona fide hedging purposes of the Issuer or any Restricted Subsidiary in the ordinary
course of business and not for the purpose of speculation; provided that in the case of Hedging Obligations relating to
interest rates, (A) such Hedging Obligations relate to payment obligations on Indebtedness otherwise permitted to be incurred by
this Section 4.9, and (B) the notional principal amount of such Hedging Obligations at the time incurred does not exceed
the principal amount of the Indebtedness to which such Hedging Obligations relate;

 

(6)       Indebtedness
of the Issuer owed to and held by a Restricted Subsidiary and Indebtedness of any Restricted Subsidiary owed to and held by the
Issuer or any other Restricted Subsidiary; provided, however, that

 

  (A)          if
the Issuer is the obligor on Indebtedness and a Restricted Subsidiary that is not a Guarantor is the obligee, such Indebtedness
is expressly subordinated to the prior payment in full in cash of all obligations with respect to the Notes;

 

  (B)          if
a Guarantor is the obligor on such Indebtedness and a Restricted Subsidiary that is not a Guarantor is the obligee, such Indebtedness
is subordinated in right of payment to the Guarantee of such Guarantor; and

 

  (C)          (i)
any subsequent issuance or transfer of Equity Interests or any other event which results in any such Indebtedness being held by
a Person other than the Issuer or any other Restricted Subsidiary; and

 

(ii)       any
sale or other transfer of any such Indebtedness to a Person other than the Issuer or any other Restricted Subsidiary shall be deemed,
in each case of this subclause (C), to constitute an incurrence of such Indebtedness not permitted by this clause (6);

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(7)       Indebtedness
in respect of (a) workers’ compensation claims, bank guarantees, warehouse receipt or similar facilities, property, casualty
or liability insurance, take-or-pay obligations in supply arrangements, self-insurance obligations or completion, performance,
bid performance, appeal or surety bonds in the ordinary course of business, including guarantees or obligations with respect to
letters of credit supporting such workers’ compensation claims, bank guarantees, warehouse receipt or similar facilities,
property, casualty or liability insurance, take-or-pay obligations in supply arrangements, self-insurance obligations or completion,
performance, bid performance, appeal or surety bonds and (b) pension schemes and pension plans sponsored by the Issuer or its Restricted
Subsidiaries for the benefit of past, current or future employees;

 

(8)       Purchase
Money Indebtedness or Capitalized Lease Obligations incurred by the Issuer or any Restricted Subsidiary in an aggregate principal
amount, taken together with Refinancing Indebtedness in respect thereof, not to exceed at any time outstanding the greater of (A)
$200.0 million and (B) 2.0% of the Issuer’s Consolidated Total Assets determined at the time of incurrence;

 

(9)       Indebtedness
arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently (except
in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business;

 

(10)     Indebtedness
arising in connection with endorsement of instruments for deposit in the ordinary course of business;

 

(11)     Refinancing
Indebtedness with respect to Indebtedness incurred pursuant to the Coverage Ratio Exception or with respect to Indebtedness incurred
pursuant to clause (2), (3), (8), this clause (11), (13), (15), (16), (17)
(without duplication with clause (17)(i)), (18) or (19) of this Section 4.9(b);

 

(12)     indemnification,
adjustment of purchase price, earn-out or similar obligations, in each case, incurred or assumed in connection with the acquisition
or disposition of any business or assets of the Issuer or any Restricted Subsidiary or Equity Interests of a Restricted Subsidiary,
other than guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business, assets or Equity Interests
for the purpose of financing or in contemplation of any such acquisition;

 

(13)     additional
Indebtedness of the Issuer or any Restricted Subsidiary in an aggregate principal amount which, when taken together with the principal
amount of all other Indebtedness incurred pursuant to this clause (13) and then outstanding, will not exceed the greater
of (A) $325.0 million and (B) 3.25% of the Issuer’s Consolidated Total Assets determined at the time of incurrence; provided
that any non-Guarantor Non-U.S. Restricted Subsidiary that is organized in the United Kingdom, Brazil, the Netherlands, Norway
or Singapore shall not be permitted to incur Indebtedness under this clause (13);

 

(14)     Indebtedness
in respect of Specified Cash Management Agreements entered into in the ordinary course of business;

 

(15)     Indebtedness
of Persons incurred and outstanding on the date on which such Person was acquired by the Issuer or any Restricted Subsidiary, or
merged or consolidated with or into the Issuer or any Restricted Subsidiary or incurred by the Company or any Restricted Subsidiary
to finance any such acquisition or merger; provided, however, that at the time such Person or assets is/are acquired
by the Issuer or a Restricted Subsidiary, or merged or consolidated with the Issuer or any Restricted Subsidiary and after giving
pro forma effect to the incurrence of such Indebtedness pursuant to this clause (15) and any other related Indebtedness,
either (A) the Issuer would have been able to incur $1.00 of additional Indebtedness pursuant to the Coverage Ratio Exception;
or (B) the Consolidated Interest Coverage Ratio of the Issuer and its Restricted Subsidiaries would be greater than or equal to
such Consolidated Interest Coverage Ratio immediately prior to such acquisition, merger or consolidation;

 

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(16)     Indebtedness
of non-Guarantor Restricted Subsidiaries not to exceed $125.0 million at any one time outstanding; provided that any non-Guarantor
Non-U.S. Restricted Subsidiary that is organized in the United Kingdom, Brazil, the Netherlands, Norway or Singapore shall not
be permitted to incur Indebtedness under this clause (16);

 

(17)     Indebtedness
of the Issuer or the Guarantors (including guarantees by such Guarantors) in an amount not to exceed the greater of (i) the amount
of Refinancing Indebtedness (without duplication with clause (11) above) necessary to refinance the Specified PPN Indebtedness
and (ii) at the time of such incurrence, an amount equal to the maximum principal amount of Indebtedness that could be incurred
such that on a pro forma basis after giving effect to the incurrence of such Indebtedness, the Consolidated Total Debt Ratio would
be less than or equal to 3.50 to 1.00;

 

(18)     Indebtedness
in respect of letters of credit, bankers’ acceptances, letters of guaranty and similar credit transactions (or reimbursement
agreements in respect thereof and with each such instrument being deemed to have a principal amount equal to the face amount thereof)
not to exceed $500.0 million at any one time outstanding; and

 

(19)     Indebtedness
of Non-U.S. Restricted Subsidiaries not to exceed $250.0 million; provided that any non-Guarantor Non-U.S. Restricted Subsidiary
that is organized in the United Kingdom, Brazil, the Netherlands, Norway or Singapore shall not be permitted to incur Indebtedness
under this clause (19).

 

(c)           For
purposes of determining compliance with this Section 4.9, in the event that an item of Indebtedness meets the criteria of more
than one of the categories of Permitted Indebtedness described in clauses (1) through (19) above or is entitled to be incurred
pursuant to the Coverage Ratio Exception, the Issuer will be permitted, in its sole discretion, to divide and classify such item
of Indebtedness, or later reclassify all or a portion of such item of Indebtedness (provided that at the time of reclassification
it meets the criteria in such category or categories), in any manner that complies with this Section 4.9; provided, that
Indebtedness incurred under the RCF Credit Agreement on the Effective Date, after giving effect to the Spinoff Transactions, shall
be deemed to have been incurred under clause (1) above and may not be reclassified. In addition, for purposes of determining any
particular amount of Indebtedness under this covenant, the amount of Indebtedness issued at a price that is less than the principal
amount thereof will be equal to the amount of the liability in respect thereof determined in accordance with GAAP.

 

(d)           From
the Issue Date through the Effective Date, the RemainCo Group may incur Indebtedness owing to the Technip Energies Group without
restriction for so long as such Indebtedness is incurred in the ordinary course of business and/or consistent with past practice
and, in each case, not substantially inconsistent with the Spinoff Documents. Any balances between the RemainCo Group and the Technip
Energies Group on the Effective Date which are being extinguished, netted, repaid, prepaid, repurchased, redeemed or forgiven in
accordance with the Spinoff Documents shall not be Indebtedness and shall not be subject to the regulation of this Section 4.9;
provided that the RemainCo Group uses commercially reasonable efforts to consummate the Spinoff Transactions in accordance with
terms and conditions of the Spinoff Documents. The accrual of interest, the accretion or amortization of original issue discount
and the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms will not be deemed to
be an incurrence of Indebtedness under this Section 4.9; provided, in each such case, that the amount thereof is included
in Consolidated Interest Expense of the Issuer as accrued.

 

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(e)          For
the purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness denominated
in a foreign currency, the U.S. dollar-equivalent principal amount of such Indebtedness incurred pursuant thereto shall be calculated
based on the relevant currency exchange rate in effect on the earlier of the date that such Indebtedness was incurred, in the case
of term Indebtedness, or first committed, in the case of revolving credit Indebtedness; provided that if such Indebtedness is incurred
to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable U.S. dollar-denominated
restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such
U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such Refinancing
Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. The principal amount of any Indebtedness
incurred to refinance other Indebtedness, if incurred in a different currency from the Indebtedness being refinanced, shall be
calculated based on the currency exchange rate applicable to the currencies in which such Refinancing Indebtedness is denominated
that is in effect on the date of such refinancing.

 

(f)           If
at any time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such Subsidiary shall be deemed to
be incurred by a Restricted Subsidiary as of such date (and, if such Indebtedness is not permitted to be incurred as of such date
under this Section 4.9, the Issuer shall be in Default of this Section 4.9).

 

(g)          Notwithstanding
anything to the contrary in this Section 4.9, in the event an item of Indebtedness (or any portion thereof) is incurred
or issued, any Lien is incurred or other transaction is undertaken in reliance on any ratio based exceptions, thresholds and baskets,
such ratio(s) shall be calculated with respect to such incurrence, issuance or other transaction without giving effect to amounts
being utilized under any other exceptions, thresholds or baskets (other than ratio based baskets) on the same date. Each item of
Indebtedness that is incurred or issued, each Lien incurred and each other transaction undertaken shall be deemed to have been
incurred, issued or taken first, to the extent available, pursuant to the relevant ratio based test.

 

Section 4.10.   Limitation
on Asset Sales.

 

(a)          The
Issuer shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, consummate any Asset Sale unless:

 

(1)       the
Issuer or such Restricted Subsidiary, as the case may be, receives consideration at least equal to the Fair Market Value (such
Fair Market Value to be determined on the date of contractually agreeing to such Asset Sale) of the Equity Interests or assets
subject to such Asset Sale; and

 

(2)       at
least 75.0% of the total consideration from such Asset Sale and all other Asset Sales on a cumulative basis since the Issue Date
received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents.

 

For purposes of clause
(2) above and for no other purpose, the following shall be deemed to be cash:

 

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(A)       the
amount (without duplication) of any liabilities (as shown on the Issuer’s or such Restricted Subsidiary’s most recent
balance sheet) (other than Subordinated Indebtedness or intercompany Indebtedness) of the Issuer or such Restricted Subsidiary
that is expressly assumed by the transferee of any such assets pursuant to a written agreement that releases the Issuer or such
Restricted Subsidiary from further liability therefor;

 

(B)       the
amount of any securities, notes or other obligations received from such transferee that are within 180 days after such Asset Sale
converted by the Issuer or such Restricted Subsidiary into cash (to the extent of the cash actually so received);

 

(C)       any
assets or Equity Interests of the kind referred to in Section 4.10(b)(2);

 

(D)       accounts
receivable of a business retained by the Issuer or any Restricted Subsidiary, as the case may be, following the sale of such business;
provided that such accounts receivable (i) are not past due more than 60 days and (ii) do not have a payment date greater
than 90 days from the date of the invoices creating such accounts receivable; and

 

(E)       any
Designated Non-cash Consideration received by the Issuer or such 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 (E), not to
exceed an amount equal to the greater of (a) $175.0 million and (b) 1.75% of the Issuer’s Consolidated Total Assets (determined
at the time of receipt of such Designated Non-cash Consideration), with the Fair Market Value of each item of Designated Non-cash
Consideration being measured at the time received and without giving effect to subsequent changes in value.

 

In the case of any
Asset Sale pursuant to a condemnation, seizure, appropriation or similar taking, including by deed in lieu of condemnation, or
any actual or constructive total loss or an agreed or compromised total loss, such Asset Sale shall not be required to satisfy
the requirements of clauses (1) and (2) of this Section 4.10(a).

 

(b)       If
the Issuer or any Restricted Subsidiary engages in an Asset Sale, the Issuer or such Restricted Subsidiary may, no later than 365
days following the consummation thereof, apply all or any of the Net Available Proceeds therefrom to:

 

(1)       repay,
repurchase, redeem, defease or otherwise retire any Indebtedness of the Issuer or a Restricted Subsidiary (other than any Disqualified
Equity Interests or Subordinated Indebtedness of the Issuer or a Guarantor, and other than Indebtedness owed to the Issuer or an
Affiliate of the Issuer); or

 

(2)       (A)
make any capital expenditure or otherwise invest all or any part of the Net Available Proceeds thereof in the purchase of assets
(other than securities and excluding working capital or current assets for the avoidance of doubt) to be used by the Issuer or
any Restricted Subsidiary in a Permitted Business, (B) acquire Qualified Equity Interests held by a Person other than the Issuer
or any of its Restricted Subsidiaries in a Person that is a Restricted Subsidiary or in a Person engaged in a Permitted Business
that shall become a Restricted Subsidiary immediately upon the consummation of such acquisition or (C) a combination of (A) and
(B); provided that the requirements of this clause (2) shall be deemed to be satisfied with respect to any Asset
Sale if the Issuer or any Restricted Subsidiary enters into an agreement committing to make the acquisition, investment or expenditure
referred to above within 365 days after the receipt of such Net Available Proceeds with the good faith expectation that such Net
Available Proceeds will be applied to satisfy such commitment in accordance with such agreement within 180 days after such 365-day
period, and if such Net Available Proceeds are not so applied within such 180-day period, then such Net Available Proceeds shall
constitute Excess Proceeds (as defined below).

 

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The amount of Net Available
Proceeds not applied or invested as provided in clauses (1) or (2) of this Section 4.10(b) shall constitute
“Excess Proceeds.”

 

(c)          On
the 366th day after an Asset Sale (or, at the Issuer’s option, an earlier date), if the aggregate amount of Excess Proceeds
equals or exceeds $100.0 million, the Issuer shall be required to make an offer, with a copy to the Trustee, to purchase or redeem
(a “Net Proceeds Offer”) from all Holders and, to the extent required by the terms of other Pari Passu Indebtedness
of the Issuer, to all holders of other Pari Passu Indebtedness outstanding with similar provisions requiring the Issuer to make
an offer to purchase or redeem such Pari Passu Indebtedness with the proceeds from any Asset Sale, to purchase or redeem the maximum
principal amount of Notes and any such Pari Passu Indebtedness to which the Net Proceeds Offer applies that may be purchased or
redeemed out of the Excess Proceeds, at an offer price in cash in an amount equal to 100.0% of the principal amount of Notes and
Pari Passu Indebtedness plus accrued and unpaid interest thereon, if any, to the date of purchase, in accordance with the procedures
set forth in this Indenture or the agreements governing the Pari Passu Indebtedness, as applicable, in each case in minimum denominations
of $2,000 or integral multiples of $1,000 in excess thereof.

 

To the extent that
the sum of the aggregate principal amount of Notes and Pari Passu Indebtedness so validly tendered pursuant to a Net Proceeds Offer
is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds, or a portion thereof, for any purposes not
otherwise prohibited by the provisions of this Indenture. If the aggregate principal amount of Notes and Pari Passu Indebtedness
so validly tendered pursuant to a Net Proceeds Offer exceeds the amount of Excess Proceeds, the Issuer shall select the Notes and
Pari Passu Indebtedness to be purchased on a pro rata basis on the basis of the aggregate outstanding principal amount of Notes
and Pari Passu Indebtedness. Upon completion of such Net Proceeds Offer in accordance with the foregoing provisions, the amount
of Excess Proceeds with respect to which such Net Proceeds Offer was made shall be deemed to be zero.

 

(d)          The
Net Proceeds Offer will remain open for a period of 20 Business Days following its commencement, except to the extent that a longer
period is required by applicable law (the “Net Proceeds Offer Period”). No later than five (5) Business Days
after the termination of the Net Proceeds Offer Period (the “Net Proceeds Purchase Date”), the Issuer will purchase
the principal amount of Notes and Pari Passu Indebtedness required to be purchased pursuant to this Section 4.10 (the “Net
Proceeds Offer Amount”) or, if less than the Net Proceeds Offer Amount has been so validly tendered, all Notes and Pari
Passu Indebtedness validly tendered in response to the Net Proceeds Offer.

 

(e)          If
the Net Proceeds Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued
and unpaid interest will be paid to the Person in whose name a Note is registered at the close of business on such record date,
and no additional interest will be payable to Holders who tender Notes pursuant to the Net Proceeds Offer.

 

(f)           Pending
the final application of any Net Available Proceeds pursuant to this Section 4.10, the holder of such Net Available Proceeds
may apply such Net Available Proceeds temporarily to reduce Indebtedness outstanding under a revolving Debt Facility or otherwise
invest such Net Available Proceeds in any manner not prohibited by this Indenture.

 

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(g)          On
or before the Net Proceeds Purchase Date, the Issuer will, to the extent lawful, accept for payment, on a pro rata basis to the
extent necessary, the Net Proceeds Offer Amount of Notes and Pari Passu Indebtedness or portions of Notes and Pari Passu Indebtedness
so validly tendered and not properly withdrawn pursuant to the Net Proceeds Offer, or if less than the Net Proceeds Offer Amount
has been validly tendered and not properly withdrawn, all Notes and Pari Passu Indebtedness so validly tendered and not properly
withdrawn, in each case in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The Issuer or the
Paying Agent, as the case may be, will promptly (but in any case not later than five (5) Business Days after termination of the
Net Proceeds Offer Period) mail or deliver to each tendering Holder and the Issuer will mail or deliver to each tendering holder
or lender of Pari Passu Indebtedness, as the case may be, an amount equal to the purchase price of the Notes or Pari Passu Indebtedness
so validly tendered and not properly withdrawn by such holder or lender, as the case may be, and accepted by the Issuer for purchase,
and the Issuer will promptly issue a new Note, and the Trustee, upon delivery of an Officers’ Certificate from the Issuer,
will authenticate and mail or deliver such new Note to such Holder, in a principal amount equal to any unpurchased portion of the
Note surrendered; provided that each such new Note will be in a minimum principal amount of $2,000 or an integral multiple
of $1,000 in excess thereof. Any Note not so accepted will be promptly mailed or delivered by the Issuer to the Holder thereof.
The Issuer shall publicly announce the results of the Net Proceeds Offer as soon as practicable after the Net Proceeds Purchase
Date.

 

(h)          Notwithstanding
the foregoing provisions of this Section 4.10, the sale, conveyance or other disposition of all or substantially all of
the assets of the Issuer and its Restricted Subsidiaries, taken as a whole, shall be governed by Section 4.13 and/or Section
5.1 and not by this Section 4.10.

 

(i)           The
Issuer shall comply with all applicable securities laws and regulations in the United States, including, without limitation, the
requirements of Rule 14e-1 under the Exchange Act and any other applicable laws and regulations in connection with the purchase
of Notes pursuant to a Net Proceeds Offer. To the extent that the provisions of any applicable securities laws or regulations conflict
with this Section 4.10, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed
to have breached its obligations under this Section 4.10 by virtue of such compliance.

 

Section 4.11.    Limitation
on Transactions with Affiliates.

 

(a)          The
Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, in one transaction or a series
of related transactions, sell, lease, transfer or otherwise dispose of any of its assets to, or purchase any assets from, or enter
into any contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate (an “Affiliate
Transaction”) involving aggregate payments or consideration to or from the Issuer or a Restricted Subsidiary in excess
of $15.0 million with respect to any single transaction or series of related transactions, unless:

 

(1)       the
terms of such Affiliate Transaction either (i) are not materially less favorable to the Issuer or such Restricted Subsidiary, as
the case may be, than those that could reasonably be expected to have been obtained in a comparable transaction at the time of
such transaction in arm’s length dealings with a Person who is not such an Affiliate, or (ii) if in the good faith judgment
of the Issuer’s Board of Directors or senior management no comparable transaction is available with which to compare such
Affiliate Transaction, are otherwise fair to the Issuer or such Restricted Subsidiary from a financial point of view; and

 

(2)       the
Issuer delivers to the Trustee, (i) with respect to any Affiliate Transaction involving aggregate value in excess of $25.0 million,
an Officers’ Certificate certifying that such Affiliate Transaction complies with clause (1) above and (ii) with respect
to any Affiliate Transaction involving aggregate value in excess of $50.0 million, an Officers’ Certificate certifying that
such Affiliate Transaction complies with clause (1) above and which sets forth and authenticates a resolution that has been approved
by the Board of Directors of the Issuer, including a majority of the disinterested members of the Board of Directors of the Issuer,
if any.

 

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(b)          Notwithstanding
the foregoing, Section 4.11(a) shall not prohibit:

 

(1)       transactions
to the extent between or among (i) the Issuer and one or more Restricted Subsidiaries or (ii) Restricted Subsidiaries;

 

(2)       reasonable
director, trustee, officer and employee compensation (including bonuses) and other benefits (including pursuant to any employment
agreement or any retirement, health, stock option or other benefit plan), payments or loans (or cancellation of loans) to employees
of the Issuer and indemnification arrangements, in each case, as determined in good faith by the Issuer’s Board of Directors
or senior management;

 

(3)       Permitted
Investments or any Restricted Payments which are made in accordance with Section 4.7;

 

(4)       (a)
prior to the Effective Date, transactions with the Technip Energies Group and (b) transactions pursuant to any agreement in effect
on the Issue Date (including pursuant to the terms of and in furtherance of the Spinoff Documents, the Spinoff Transactions, all
transactions in connection therewith (including but not limited to the financing thereof and the consummation of the reorganization
of the RemainCo Group on the one hand and the Technip Energies Group on the other hand), and all fees and expenses paid or payable
in connection with the Spinoff Transactions) or as thereafter amended or replaced in any manner that, taken as a whole, is not
materially less advantageous to the Issuer than such agreement as it was in effect on the Issue Date or, on substantially the terms
described in the Offering Memorandum, the Effective Date or pursuant to the Spinoff Documents;

 

(5)       any
transaction with a Person (other than an Unrestricted Subsidiary of the Issuer) which would constitute an Affiliate of the Issuer
solely because the Issuer or a Restricted Subsidiary owns an equity interest in or otherwise controls such Person;

 

(6)       transactions
with customers, clients, suppliers, or purchasers or sellers of goods or services, in each case in the ordinary course of business
and otherwise in compliance with the terms of this Indenture; provided that in the reasonable determination of the Board
of Directors of the Issuer or the senior management of the Issuer, such transactions are on terms not materially less favorable
to the Issuer or the relevant Restricted Subsidiary than those that could reasonably be expected to be obtained in a comparable
transaction at such time on an arm’s-length basis from a Person that is not an Affiliate of the Issuer;

 

(7)       the
issuance or sale of any Qualified Equity Interests of the Issuer and the granting of registration and other customary rights in
connection therewith to, or the receipt of capital contributions from, Affiliates of the Issuer;

 

(8)       payments
to an Affiliate in respect of the Notes or any other Indebtedness of the Issuer or any of its Restricted Subsidiaries on the same
basis as concurrent payments are made or offered to be made in respect thereof to non-Affiliates;

 

(9)       any
transaction in which the Issuer or any of its Restricted Subsidiaries, as the case may be, delivers to the Trustee a letter from
an accounting, appraisal or investment banking firm of national standing stating that such transaction is fair to the Issuer or
such Restricted Subsidiary from a financial point of view or that such transaction meets the requirements of Section 4.11(a)(1);

 

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(10)     any
transaction where the only consideration paid by the Issuer or the relevant Restricted Subsidiary is Qualified Equity Interests
of the Issuer;

 

(11)     transactions
between the Issuer or any Restricted Subsidiary and any Person, a director of which is also a director of the Issuer or any direct
or indirect parent company of the Issuer, and such director is the sole cause for such Person to be deemed an Affiliate of the
Issuer or any Restricted Subsidiary; provided, however, that such director shall abstain from voting as a director
of the Issuer or such direct or indirect parent company, as the case may be, on any matter involving such other Person; and

 

(12)     the
entering into of a tax sharing agreement, or payments pursuant thereto, between the Issuer and/or one or more Subsidiaries, on
the one hand, and any other Person with which the Issuer or such Subsidiaries are required or permitted to file a consolidated
tax return or with which the Issuer or such Subsidiaries are part of a consolidated group for tax purposes to be used by such Person
to pay taxes, and which payments by the Issuer and the Restricted Subsidiaries are not in excess of the tax liabilities that would
have been payable by them on a stand-alone basis.

 

Section 4.12.   Limitation
on Liens.

 

(a)          The
Issuer shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, create, incur, assume or permit or
suffer to exist any Lien (an “Initial Lien”) of any kind (other than Permitted Liens) upon any of their property
or assets (including Equity Interests of any Restricted Subsidiary), whether owned at the Issue Date or thereafter acquired, which
Lien secures Indebtedness, unless contemporaneously with the incurrence of such Lien:

 

(1)       in
the case of any Lien securing Indebtedness that is not Subordinated Indebtedness, effective provision is made to secure the Notes
or such Guarantee, as the case may be, at least equally and ratably with or prior to such Indebtedness with a Lien on the same
collateral; and

 

(2)       in
the case of any Lien securing Subordinated Indebtedness, effective provision is made to secure the Notes or such Guarantee, as
the case may be, with a Lien on the same collateral that is senior to the Lien securing such Subordinated Indebtedness.

 

(b)          A
Lien created for the benefit of the Holders pursuant to Section 4.12(a) shall provide by its terms that such Lien shall
be automatically and unconditionally released and discharged upon the release and discharge of the Initial Lien.

 

Section 4.13.    Offer
to Purchase upon Change of Control Triggering Event.

 

(a)          Upon
the occurrence of any Change of Control Triggering Event, unless the Issuer has previously or concurrently exercised its right
to redeem all of the Notes as described under Section 3.7, each Holder shall have the right, except as provided below, to
require that the Issuer purchase all or any portion (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that
Holder’s Notes for a cash price (the “Change of Control Purchase Price”) equal to 101.0% of the principal
amount of the Notes to be purchased, plus accrued and unpaid interest thereon, if any, to, but excluding, the date of purchase.

 

(b)          Not
later than 30 days following any Change of Control Triggering Event, the Issuer shall deliver, or cause to be delivered, to the
Holders, with a copy to the Trustee, a notice:

 

(1)       describing
the transaction or transactions that constitute the Change of Control;

 

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(2)       offering
to purchase, pursuant to the procedures required by this Indenture and described in the notice (a “Change of Control Offer”),
on a date specified in the notice, which shall be a Business Day not earlier than 30 days, nor later than 60 days, from the date
the notice is delivered (the “Change of Control Payment Date”), and for the Change of Control Purchase Price,
all Notes properly tendered by such Holder pursuant to such Change of Control Offer prior to 5:00 p.m. New York time on the second
Business Day preceding the Change of Control Payment Date; and

 

(3)       describing
the procedures, as determined by the Issuer, consistent with this Indenture, that Holders must follow to accept the Change of Control
Offer.

 

(c)       On
or before the Change of Control Payment Date, the Issuer will, to the extent lawful:

 

(1)       deposit
with the Paying Agent an amount equal to the Change of Control Purchase Price in respect of all Notes or portions of Notes properly
tendered;

 

(2)       accept
for payment all Notes or portions of Notes (of $2,000 or integral multiples of $1,000 in excess thereof) properly tendered pursuant
to the Change of Control Offer; and

 

(3)       deliver
or cause to be delivered to the Trustee the Notes so accepted together with an Officers’ Certificate stating the aggregate
principal amount of Notes or portions of Notes being purchased by the Issuer.

 

(d)          The
Paying Agent shall promptly deliver to each Holder who has so tendered Notes the Change of Control Purchase Price for such Notes,
and the Trustee shall promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal
in principal amount to any unpurchased portion of the Notes so tendered, if any; provided that each such new Note will be
in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof.

 

(e)          If
the Change of Control Payment Date is on or after an interest record date and on or before the related interest payment date, any
accrued and unpaid interest, if any, will be paid on the relevant interest payment date to the Person in whose name a Note is registered
at the close of business on such record date.

 

(f)           A
Change of Control Offer shall remain open for at least 20 Business Days or for such longer period as is required by law. The Issuer
shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment
Date.

 

(g)          The
Issuer shall not be required to make a Change of Control Offer upon a Change of Control Triggering Event if (i) a third party makes
the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture
applicable to a Change of Control Offer made by the Issuer and purchases all Notes properly tendered and not withdrawn under such
Change of Control Offer or (ii) in connection with or in contemplation of any publicly announced Change of Control, the Issuer
has made an offer to purchase (an “Alternate Offer”) any and all Notes validly tendered at a cash price equal
to or higher than the Change of Control Purchase Price and has purchased all Notes properly tendered in accordance with the terms
of the Alternate Offer.

 

(h)          If
Holders of not less than 90.0% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes
in a Change of Control Offer or Alternate Offer and the Issuer, or any third party making a Change of Control Offer in lieu of
the Issuer as described above, purchases all of the Notes validly tendered and not withdrawn by such Holders, the Issuer will have
the right, upon not less than 15 nor more than 60 days’ prior notice, given not more than 30 days following such purchase
pursuant to the Change of Control Offer or an Alternate Offer, as applicable, to redeem all Notes that remain outstanding following
such purchase at a redemption price in cash equal to the applicable Change of Control Purchase Price or an Alternate Offer price,
as applicable, plus, to the extent not included in the Change of Control Purchase Price or an Alternate Offer price, as applicable,
accrued and unpaid interest, if any, to, but excluding, the date of redemption.

 

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(i)           The
Issuer shall comply with all applicable securities legislation in the United States, including, without limitation, the requirements
of Rule 14e- 1 under the Exchange Act and any other applicable laws and regulations in connection with the purchase of Notes pursuant
to a Change of Control Offer. To the extent that the provisions of any applicable securities laws or regulations conflict with
this Section 4.13, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to
have breached its obligations under this Section 4.13 by virtue of such compliance.

 

(j)           The
provisions under this Indenture relating to the Issuer’s obligation to make a Change of Control Offer may be waived, modified
or terminated with the written consent of the Holders of a majority in principal amount of the Notes then outstanding.

 

(k)          Notwithstanding
anything to the contrary contained in this Section 4.13, a Change of Control Offer may be made in advance of a Change of
Control Triggering Event, conditional upon such Change of Control Triggering Event, if a definitive agreement is in place for the
Change of Control at the time of making of the Change of Control Offer.

 

Section 4.14.   Corporate
Existence. Subject to Article V, the Issuer shall do or cause to be done all things necessary to preserve and keep in
full force and effect its corporate existence and the corporate, partnership, limited liability company or other existence of each
of the Guarantors in accordance with the respective organizational documents (as the same may be amended from time to time) of
the Issuer or any such Guarantor and the rights (charter and statutory), licenses and franchises of the Issuer and the Guarantors;
provided that the Issuer shall not be required to preserve any such right, license or franchise, or the corporate, partnership
or other existence of any of the Guarantors, if the Issuer shall determine that the preservation thereof is no longer desirable
in the conduct of the business of the Issuer and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in
any material respect to the Holders.

 

Section 4.15.   Additional
Guarantees. (a) If any Restricted Subsidiary of the Issuer that is not already a Guarantor shall guarantee any Indebtedness
of the Issuer or any Guarantor under the (i) RCF Credit Agreement or (ii) any Debt Facility or capital markets debt securities
of the Issuer or any Guarantor, in each case of this clause (ii), in an aggregate principal amount that exceeds $75.0 million,
then the Issuer shall, within 30 days thereof, cause such Restricted Subsidiary to execute and deliver to the Trustee a supplemental
indenture in substantially the form attached hereto as Exhibit B pursuant to which such Restricted Subsidiary shall become a Guarantor
with respect to the Notes, upon the terms and subject to the release provisions and other limitations set forth in Article
X.

 

(b)          For
the avoidance of doubt, upon the completion of the Spinoff on the Effective Date, the Issuer shall, substantially simultaneously
therewith, cause any Restricted Subsidiary that guarantees the RCF Credit Agreement to execute a supplemental indenture as contemplated
under Section 4.15(a).

 

Section 4.16.    Limitation
on Designation of Unrestricted Subsidiaries. (a) The Board of Directors of the Issuer may designate any Subsidiary (including
any newly formed or newly acquired Subsidiary or a Person becoming a Subsidiary through merger or consolidation or Investment therein)
of the Issuer as an “Unrestricted Subsidiary” under this Indenture (a “Designation”) only
if:

 

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(1)       no
Default shall have occurred and be continuing at the time of or after giving effect to such Designation; and

 

(2)       the
Issuer would be permitted to make, at the time of such Designation, (a) a Permitted Investment or (b) an Investment pursuant to
Section 4.7, in either case, in an amount (the “Designation Amount”) equal to the Fair Market Value of
the Issuer’s proportionate interest in such Subsidiary on such date.

 

(b)          No
Subsidiary shall be Designated as an “Unrestricted Subsidiary” unless:

 

(1)       all
of the Indebtedness of such Subsidiary and its Subsidiaries shall, at the date of Designation, consist of Non-Recourse Debt, except
for (ii) any guarantee given solely to support the pledge by the Issuer or any Restricted Subsidiary of the Equity Interests of
such Unrestricted Subsidiary, which guarantee is not recourse to the Issuer or any Restricted Subsidiary, (ii) any customary keepwell
in the ordinary course of business (which keepwell is not recourse to the Issuer or any Restricted Subsidiary) and (iii) any guarantee
of Indebtedness of such Subsidiary by the Issuer or a Restricted Subsidiary that is permitted as both an incurrence of Indebtedness
and an Investment (in each case in an amount equal to the amount of such Indebtedness so guaranteed) permitted under Section
4.7 and Section 4.9;

 

(2)       except
as permitted by Section 4.11, on the date such Subsidiary is Designated an Unrestricted Subsidiary, such Subsidiary is not
party to any agreement, contract, arrangement or understanding (other than a guarantee permitted under clause (1) of this
Section 4.16(b)) with the Issuer or any Restricted Subsidiary unless the terms of the agreement, contract, arrangement or
understanding are not materially less favorable to the Issuer or the Restricted Subsidiary than those that could reasonably be
expected to have been obtained at the time from Persons who are not Affiliates of the Issuer; and

 

(3)       such
Subsidiary is a Person with respect to which neither the Issuer nor any of its Restricted Subsidiaries has any direct or indirect
obligation (a) to subscribe for additional Equity Interests of such Person or (b) to maintain or preserve the Person’s financial
condition or to cause the Person to achieve any specified levels of operating results (in each case other than a guarantee permitted
under clause (1) of this Section 4.16(b)) or to the extent treated as an Investment permitted by Section 4.7.

 

Any such Designation
by the Board of Directors of the Issuer shall be evidenced to the Trustee by filing with the Trustee a resolution of the Board
of Directors of the Issuer giving effect to such Designation and an Officers’ Certificate certifying that such Designation
complies with the foregoing conditions. If, at any time, any Unrestricted Subsidiary fails to meet the preceding requirements as
an Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness
of the Subsidiary and any Liens on assets of such Subsidiary shall be deemed to be incurred by a Restricted Subsidiary at such
time and, if the Indebtedness is not permitted to be incurred under Section 4.9 or the Lien is not permitted under Section
4.12, the Issuer shall be in default of the applicable covenant.

 

(c)          The
Board of Directors of the Issuer may redesignate an Unrestricted Subsidiary as a Restricted Subsidiary (a “Redesignation”)
only if:

 

(1)       no
Default shall have occurred and be continuing at the time of and after giving effect to such Redesignation; and

 

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(2)       all
Liens, Indebtedness and Investments of such Unrestricted Subsidiary outstanding immediately following such Redesignation would,
if incurred or made at such time, have been permitted to be incurred or made for all purposes of this Indenture.

 

Any such Redesignation
shall be evidenced to the Trustee by filing with the Trustee an Officers’ Certificate certifying that such Redesignation
complies with the foregoing conditions.

 

Section 4.17.    Effectiveness
of Covenants.

 

(a)           If:

 

(1)       the
Notes have a Specified Investment Grade Rating from both of the Rating Agencies; and

 

(2)       no
Default or Event of Default has occurred and is then continuing;

 

then upon delivery by the Issuer
to the Trustee of an Officers’ Certificate to the foregoing effect (the date of delivery of any such Officers’ Certificate,
the “Termination Date”), the Issuer and its Restricted Subsidiaries will thereafter, not be subject to the following
covenants:

 

	(i)	Section 4.7;
	 	 
	(ii)	Section 4.8;
	 	 
	(iii)	Section 4.9;
	 	 
	(iv)	Section 4.10;
	 	 
	(v)	Section 4.11; 
	 	 
	(vi)	Section 4.15;
	 	 
	(vii)	Section 4.16; and
	 	 
	(viii)	Section 5.1(a)(3).

 

(b)          Each
Guarantor shall be automatically released from its obligations under its Guarantee and its obligations under this Indenture upon
delivery by the Issuer to the Trustee of the Officers’ Certificate under Section 4.17(a) on the Termination Date.

 

(c)          Following
delivery by the Issuer to the Trustee of the Officers’ Certificate under Section 4.17(a) on the Termination Date,
and solely for the purposes of determining compliance with Section 4.12 (i) notwithstanding the termination of Section
4.9 the ratio based exceptions, thresholds and basket provisions of such Section 4.9 that are referred to in, or necessary
to give effect to, Section 4.12 shall be deemed to still be in effect and (ii) references to “Restricted Subsidiaries”
shall be deemed to be references to “Subsidiaries,” as the context requires.

 

(d)          The
Trustee shall have no obligation to independently determine or verify if a Termination Date has occurred or notify the Holders
of any Termination Date. The Trustee may provide a copy of such Officers’ Certificate to any Holder of the Notes upon request.

 

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Section 4.18.   Use
of Proceeds Prior to the Consummation of the Spinoff.

 

(a)          Prior
to the earlier of (A) the date of the consummation of the Spinoff and (B) the date on which the Notes are redeemed by the Issuer
pursuant to Section 3.9, the Issuer (i) shall maintain funds in an amount equal to the net proceeds of the offering in a
deposit account held at JPMorgan Chase Bank, N.A. (“JPMCB”), or if JPMCB cannot or does not accept such deposit account,
in a deposit account held at a U.S. financial institution reasonably acceptable to JPMCB and (ii) shall use the proceeds for (x)
consummating the Spinoff Transactions or (y) redeeming the notes pursuant to the special mandatory redemption provisions described
in Section 3.9.

 

(b)          Upon
the consummation of the Spinoff, this Section 4.18 shall automatically cease to be of any force or effect.

 

Section 4.19.   Maintenance
of Listing. The Issuer shall use its commercially reasonable efforts to obtain and maintain the listing of the Notes on the
Euro MTF Market of the Luxembourg Stock Exchange (the “Exchange”) for so long as any Notes are outstanding;
provided that if the Issuer is unable to obtain admission to listing of the Notes on the Exchange or if at any time the Issuer
is unable to maintain such listing, it shall use its commercially reasonable efforts to obtain a listing of the Notes on another
recognized stock exchange.

 

ARTICLE
V

SUCCESSORS

 

Section 5.1.     Consolidation,
Merger, Conveyance, Transfer or Lease.

 

(a)          The
Issuer shall not, directly or indirectly, in a single transaction or a series of related transactions (x) consolidate or merge
with or into another Person (whether or not the Issuer is the surviving Person), or (y) sell, lease, transfer, convey or otherwise
dispose of or assign all or substantially all of the assets of the Issuer and its Restricted Subsidiaries (taken as a whole) to
any Person unless:

 

(1)      either:

 

(A)       the
Issuer will be the surviving or continuing Person; or

 

(B)       the
Person (if other than the Issuer) formed by or surviving or continuing from such consolidation or merger or to which such sale,
lease, transfer, conveyance or other disposition or assignment shall be made (collectively, the “Successor”)
is a corporation, limited liability company or limited partnership organized and existing under the laws of the United States,
any State of the United States or the District of Columbia, Canada, the United Kingdom or any member of its European Economic Area,
and the Successor expressly assumes, by agreements in form and substance reasonably satisfactory to the Trustee, all of the obligations
of the Issuer under the Notes and this Indenture; provided, that if the Successor is not a corporation, a Restricted Subsidiary
that is a corporation expressly assumes as co-obligor all of the obligations of the Issuer under this Indenture and the Notes pursuant
to a supplemental indenture to this Indenture executed and delivered to the Trustee;

 

(2)       immediately
after giving effect to such transaction and the assumption of the obligations as set forth in clause (1)(B) of this Section
5.1(a) and the incurrence of any Indebtedness to be incurred in connection therewith, and the use of any net proceeds therefrom
on a pro forma basis, no Default shall have occurred and be continuing;

 

(3)       immediately
after giving pro forma effect to such transaction and the assumption of the obligations as set forth in clause (1)(B) of
this Section 5.1(a) and the incurrence of any Indebtedness to be incurred in connection therewith, and the use of any net
proceeds therefrom on a pro forma basis, (i) the Issuer or its Successor, as the case may be, could incur $1.00 of additional Indebtedness
pursuant to the Coverage Ratio Exception or (ii) the Consolidated Interest Coverage Ratio for the Issuer or its Successor, as the
case may be, and its Restricted Subsidiaries would be greater than or equal to such Consolidated Interest Coverage Ratio prior
to such transaction; and

 

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(4)       the
Issuer shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that such merger,
consolidation or transfer and such agreement and/or supplemental indenture (if any) comply with this Indenture.

 

For purposes of this
Section 5.1, any Indebtedness of the Successor which was not Indebtedness of the Issuer immediately prior to the transaction
shall be deemed to have been incurred in connection with such transaction.

 

(b)          Except
in circumstances under which this Indenture provides for the release of the Guarantee of a Guarantor as described under Section
10.5, no Guarantor shall, and the Issuer shall not permit any Guarantor to, directly or indirectly, (x) in a single transaction
or a series of related transactions, consolidate or merge with or into another Person (whether or not the Guarantor is the surviving
Person) or (y) sell, lease, transfer, convey or otherwise dispose of or assign all or substantially all of the assets of such Guarantor
to any Person, unless either:

 

(1)      (A)(i)
such Guarantor will be the surviving or continuing Person; or (ii) the Person (if other than such Guarantor) formed by or surviving
any such consolidation or merger is the Issuer or another Guarantor or assumes, by agreements in form and substance reasonably
satisfactory to the Trustee, all of the obligations of such Guarantor under the Guarantee of such Guarantor and this Indenture;

 

(B)       immediately
after giving effect to such transaction, no Default shall have occurred and be continuing; and

 

(C)       the
Issuer shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such merger
or consolidation and such agreements and/or supplemental indenture (if any) comply with this Indenture; or

 

(2)       the
transaction is made in compliance with Section 4.10.

 

For purposes of this
Section 5.1, the transfer (by lease, assignment, sale or otherwise, in a single transaction or series of transactions) of
all or substantially all of the properties or assets of one or more Restricted Subsidiaries of the Issuer, the Equity Interests
of which constitute all or substantially all of the properties and assets of the Issuer, shall be deemed to be the transfer of
all or substantially all of the properties and assets of the Issuer.

 

(c)          Upon
any consolidation or merger of the Issuer or a Guarantor, or any transfer of all or substantially all of the assets of the Issuer
or a Guarantor in accordance with the foregoing, in which the Issuer or such Guarantor is not the continuing obligor under the
Notes or its Guarantee, as applicable, the surviving entity formed by such consolidation or merger or into which the Issuer or
such Guarantor is merged or the Person to which the sale, conveyance, lease, transfer, disposition or assignment is made will succeed
to, and be substituted for, and may exercise every right and power of, the Issuer or such Guarantor under this Indenture, the Notes
and the Guarantees with the same effect as if such surviving entity had been named therein as the Issuer or such Guarantor and,
except in the case of a lease, the Issuer or such Guarantor, as the case may be, will be released from the obligation to pay the
principal of and interest on the Notes or in respect of its Guarantee, as the case may be, and all of the Issuer’s or such
Guarantor’s other obligations and covenants under the Notes, this Indenture and its Guarantee, if applicable.

 

    	 	67	 

     

    

   

(d)          Notwithstanding
provisions of this Section 5.1, (i) any Restricted Subsidiary may consolidate or merge with or into or convey, transfer,
sell, dispose, assign or lease, in one transaction or a series of transactions, all or substantially all of its assets to the Issuer
or another Restricted Subsidiary and (ii) the Issuer or any Guarantor may (i) consolidate or merge with or into or convey, transfer
or lease, in one transaction or a series of transactions, all or part of its properties and assets to the Issuer or another Guarantor
or (ii) merge with a Restricted Subsidiary of the Issuer solely, with respect to this clause (ii) for the purpose of reincorporating
the Issuer or Guarantor in a State of the United States, the District of Columbia, the United Kingdom, Norway, Switzerland, any
member of the European Union or Canada (and for Guarantors incorporated in Brazil and Singapore, in either country or any of the
foregoing countries).

 

(e)          For
the avoidance of doubt, the provisions of this Section 5.1 shall not prohibit or otherwise restrict the Spinoff Transactions.

 

ARTICLE
VI

DEFAULTS AND REMEDIES

 

Section 6.1.     Events
of Default. Each of the following is an “Event of Default”:

 

(1)       failure
to pay interest (or Additional Amounts) on any of the Notes when the same becomes due and payable and the continuance of any such
failure for 30 days;

 

(2)       failure
to pay principal of, Additional Amounts or premium, if any, on any of the Notes when it becomes due and payable, whether at Stated
Maturity, upon redemption, required purchase, acceleration or otherwise;

 

(3)       failure
by the Issuer or any of its Restricted Subsidiaries to comply with any of their respective agreements or covenants described in
Section 5.1, or failure by the Issuer to comply in respect of its obligations to make a Change of Control Offer pursuant
to Section 4.13 or a Net Proceeds Offer pursuant to Section 4.10;

 

(4)       (a)
except with respect to Section 4.3, or as described in clause (3) of this Section 6.1, failure by the Issuer
or any Restricted Subsidiary to comply with any other covenant or agreement contained in this Indenture and continuance of this
failure for 60 days after notice of the failure has been given to the Issuer by the Trustee or to the Issuer and the Trustee by
the Holders of at least 25.0% of the aggregate principal amount of the Notes then outstanding, or (b) failure by the Issuer for
90 days after notice of the failure has been given to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders
of at least 25.0% of the aggregate principal amount of the Notes then outstanding to comply with Section 4.3;

 

(5)       default
by the Issuer or any Restricted Subsidiary under any mortgage, indenture or other instrument or agreement under which there is
issued or by which there is secured or evidenced Indebtedness for borrowed money by the Issuer or any Restricted Subsidiary, whether
such Indebtedness now exists or is incurred after the Issue Date, which default:

 

(A)       is
caused by a failure to pay at its Stated Maturity principal on such Indebtedness within the applicable express grace period and
any extensions thereof, or

 

(B)       results
in the acceleration of such Indebtedness prior to its Stated Maturity,

 

    	 	68	 

     

    

   

and, in each case,
the principal amount of such Indebtedness, together with the principal amount of any other Indebtedness with respect to which an
event described in clause (A) or (B) has occurred and is continuing, aggregates $100.0 million or more, and in any
such case, such Indebtedness is not repaid or such failure to pay is not cured or such acceleration is not rescinded, annulled
or otherwise cured within 30 days;

 

(6)       one
or more judgments (to the extent not covered by insurance) for the payment of money in an aggregate amount in excess of $100.0
million shall be rendered against the Issuer or any of its Significant Subsidiaries and the same shall remain undischarged for
a period of 60 consecutive days during which execution shall not be effectively stayed;

 

(7)       the
Issuer or any Significant Subsidiary of the Issuer or group of Restricted Subsidiaries of the Issuer that, taken together, would
constitute a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law:

 

(A)       commences
a voluntary case,

 

(B)       consents
to the entry of an order for relief against it in an involuntary case,

 

(C)       consents
to the appointment of a custodian of it or for all or substantially all of its property,

 

(D)       makes
a general assignment for the benefit of its creditors, or

 

(E)       admits
in writing that it generally is not paying its debts as they become due; or

 

(F)       a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

  (i)       is
for relief against the Issuer or any Significant Subsidiary of the Issuer or group of Restricted Subsidiaries of the Issuer that,
taken together, would constitute a Significant Subsidiary, in an involuntary case;

 

  (ii)       appoints
a custodian of the Issuer or any Significant Subsidiary of the Issuer or group of Restricted Subsidiaries of the Issuer that, taken
together, would constitute a Significant Subsidiary; or

 

  (iii)       orders
the liquidation of the Issuer or any Significant Subsidiary of the Issuer or group of Restricted Subsidiaries of the Issuer that,
taken together, would constitute a Significant Subsidiary

 

and, in each case,
the order or decree remains unstayed and in effect for 60 consecutive days; or

 

(8)       any
Guarantee ceases to be in full force and effect (other than in accordance with the terms of such Guarantee and this Indenture)
or is declared null and void and unenforceable or found to be invalid or any Guarantor denies its liability under the Guarantee
of such Guarantor (other than by reason of release of such Guarantor from its Guarantee in accordance with the terms of this Indenture).

 

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Section 6.2.    Acceleration.
If an Event of Default (other than an Event of Default specified in Section 6.1(7) with respect to the Issuer) shall have
occurred and be continuing under this Indenture, the Trustee, by written notice to the Issuer, or the Holders of at least 25.0%
in aggregate principal amount of the Notes then outstanding by written notice to the Issuer and the Trustee, may declare (an “acceleration
declaration”) all amounts owing under the Notes to be due and payable. Upon such acceleration declaration, the aggregate
principal of and accrued and unpaid interest on the outstanding Notes shall become due and payable immediately, provided, however,
that after such acceleration, but before a judgment or decree based on acceleration, the Holders of a majority in aggregate principal
amount of the Notes then outstanding may rescind and annul such acceleration if:

 

(1)       the
rescission would not conflict with any judgment or decree;

 

(2)       all
Events of Default have been cured or waived other than nonpayment of accelerated principal and interest;

 

(3)       to
the extent the payment of such interest is lawful, interest on overdue installments of interest and overdue principal, which has
become due otherwise than by such declaration of acceleration, has been paid; and

 

(4)       the
Issuer has paid the Trustee its reasonable compensation and reimbursed the Trustee for its reasonable expenses, disbursements and
advances.

 

No such rescission
shall affect any subsequent Default or impair any right consequent thereto.

 

If an Event of Default
specified in Section 6.1(7) with respect to the Issuer, then all unpaid principal of and accrued and unpaid interest, if
any, on all outstanding Notes shall ipso facto become and be immediately due and payable without any declaration, further action
or notice to the extent permitted by applicable law.

 

Section 6.3.      Other
Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payments
on the Notes or to enforce the performance of any provision of the Notes or this Indenture.

 

The Trustee may maintain a proceeding even
if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or
any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute
a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law.

 

Section 6.4.      Waiver
of Past Defaults. Subject to Section 9.2, the Holders of a majority in aggregate principal amount of the Notes then
outstanding by written notice to the Trustee may, on behalf of the Holders of all of the Notes, waive any existing Default and
its consequences under this Indenture except a continuing Default in the payment of interest or premium, or the principal of, the
Notes.

 

Section 6.5.      Control
by Majority. The Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the time, method
and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust power conferred
on it. However, (i) the Trustee may refuse to follow any direction that conflicts with law or this Indenture, that may involve
the Trustee in personal liability, or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders
not joining in the giving of such direction (it being understood that the Trustee does not have an affirmative duty to determine
whether or not any such direction is unduly prejudicial to the rights of Holders of the Notes not joining in the giving of such
direction) and (ii) the Trustee may take any other action it deems proper that is not inconsistent with any such direction received
from the Holders. Subject to Section 7.1, prior to taking any action hereunder, the Trustee shall be entitled to indemnification
satisfactory to it against all loss, liability and expense caused by taking or not taking such action.

 

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Section 6.6.     Limitation
on Suits. A Holder may pursue a remedy with respect to this Indenture or the Notes only if:

 

(1)       the
Holder gives the Trustee written notice of a continuing Event of Default;

 

(2)       the
Holder or Holders of at least 25.0% in aggregate principal amount of outstanding Notes make a written request to the Trustee to
pursue the remedy;

 

(3)       such
Holder or Holders offer the Trustee indemnity satisfactory to the Trustee against any costs, liability or expense;

 

(4)       the
Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and

 

(5)       during
such 60-day period, the Holders of a majority in aggregate principal amount of the outstanding Notes do not give the Trustee a
direction that is inconsistent with the request.

 

A Holder may not use
this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder (it being understood
that the Trustee does not have an affirmative duty to ascertain whether or not any such use by a Holder prejudices the rights of
any other Holders or obtains priority or preference over such other Holders).

 

Section 6.7.    Rights
of Holders of Notes to Receive Payment. Notwithstanding any other provision of this Indenture, the contractual right of any
Holder to receive payment of principal of, premium, if any, or interest on, such Note or to bring suit for the enforcement of any
such payment, on or after the due date expressed in the Notes, shall not be modified without the consent of the Holder.

 

Section 6.8.    Collection
Suit by Trustee. If an Event of Default specified in Section 6.1(1) or Section 6.1(2) occurs and is continuing,
the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Issuer for the whole
amount of principal of, premium and interest remaining unpaid on the Notes and interest on overdue principal and, to the extent
lawful, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel.

 

Section 6.9.    Trustee
May File Proofs of Claim. The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary
or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Issuer
(or any other obligor upon the Notes), its creditors or its property and shall be entitled and empowered to collect, receive and
distribute any money or other securities or property payable or deliverable upon the conversion or exchange of the Notes or on
any such claims, and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to
the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to
the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.6. To the extent that the payment of any such compensation,
expenses, disbursements and advances to the Trustee, its agents and counsel, and any other amounts due the Trustee under Section
7.6 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien
on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may
be entitled to receive in such proceeding, whether in liquidation or under any plan of reorganization or arrangement or otherwise.
Nothing in this Section 6.9 shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf
of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder,
or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

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Section 6.10.   Priorities.
If the Trustee collects any money or property pursuant to this Article VI, it shall pay out the money and property in the
following order:

 

First: to the
Trustee, its agents and attorneys for amounts due under Section 7.6, including payment of all reasonable compensation, expenses
and liabilities incurred, and all advances made, by it and the costs and expenses of collection;

 

Second: to Holders
for amounts due and unpaid on the Notes for principal, premium, if any, and interest ratably, without preference or priority of
any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively;

 

Third: without
duplication, to the Holders for any other Obligations owing to the Holders under this Indenture and the Notes; and

 

Fourth: to the
Issuer or to such party as a court of competent jurisdiction shall direct.

 

The Trustee may fix
a record date and payment date for any payment to Holders pursuant to this Section 6.10.

 

Section 6.11.    Undertaking
for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee
for any action taken or omitted by it as the Trustee, a court in its discretion may require the filing by any party litigant in
the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including
reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good
faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee,
a suit by a Holder pursuant to Section 6.7, or a suit by Holders of more than 10.0% in principal amount of the then outstanding
Notes.

 

ARTICLE
VII

TRUSTEE

 

Section 7.1.     Duties
of Trustee.

 

(a)           If
an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this
Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances
in the conduct of his or her own affairs. The Trustee shall not be liable for any action taken or omitted by it in the performance
of its duties under this Indenture except for its own gross negligence or willful misconduct.

 

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(b)       

 

(1)       the
duties of the Trustee shall be determined solely by the express provisions of this Indenture, and the Trustee need perform only
those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

 

(2)       the
Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates
or opinions furnished to the Trustee and conforming to the requirements of this Indenture (but need not confirm or investigate
the accuracy of mathematical calculations or other facts stated therein); provided, however, in the case of any such
certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall
examine the certificates and opinions furnished to it to determine whether or not they conform to the requirements of this Indenture.

 

(c)          The
Trustee may not be relieved from liabilities for its own grossly negligent actions, its own grossly negligent failure to act, or
its own willful misconduct, except that:

 

(1)       this
paragraph 7.1(c) does not limit the effect of paragraph 7.1(b), 7.1(d) or 7.1(e) or 7.2;

 

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

 

(3)       the
Trustee shall not be liable with respect to any action it takes or omits to take in accordance with a direction received by it
pursuant to Section 6.5; and

 

(4)       no
provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability.

 

(d)          The
Trustee shall not be liable for interest on or the investment of any money received by it except as the Trustee may agree in writing
with the Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.
The Trustee shall have no investment discretion and the Trustee’s only responsibility for investments shall be to follow
the written instructions of the Issuer. Absent written investment instructions, all moneys or deposits held by the Trustee shall
be uninvested. The Trustee shall not incur any liability for losses arising from any investments made pursuant to this Indenture.
The Trustee shall not be required to determine the suitability or legality of any investments.

 

(e)          Whether
or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to Article
VII.

 

Section 7.2.     Rights
of Trustee.

 

(a)          The
Trustee may conclusively rely and shall be fully protected in acting or refraining from acting on any resolution, certificate,
statement, instrument, opinion, notice, report, request, direction, consent, order, bond, debenture or other document (whether
in original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee
need not investigate any fact or matter stated therein.

 

(b)          Before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee
shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion
of Counsel. Prior to taking, suffering or admitting any action, the Trustee may consult with counsel of the Trustee’s own
choosing, and the Trustee shall be fully protected from liability in respect of any action taken, suffered or omitted by it hereunder
in good faith and in conclusive reliance on the advice or opinion of such counsel.

 

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

 

(d)          The
Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within
the discretion or rights or powers conferred upon it by this Indenture.

 

(e)          Unless
otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuer or a Guarantor shall
be sufficient if signed by an Officer of the Issuer or such Guarantor.

 

(f)           The
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction
of any of the Holders unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against
the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction.

 

(g)         The
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or documents, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine during normal business hours the books, records and premises of the Issuer, personally or by agent or attorney at the
sole cost of the Issuer, and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation.

 

(h)         The
rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, to the Agents and to each other
agent, custodian and Person employed to act hereunder.

 

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

 

(j)           The
Trustee shall not be deemed to have notice of any Default or Event of Default, unless a Responsible Officer of the Trustee shall
have been notified specifically of the Default or Event of Default in a written instrument or document delivered to it, referring
to this Indenture, describing such Event of Default and stating that such notice is a “Notice of Default.”

 

(k)          In
no event shall the Trustee be responsible or liable for special, indirect, punitive, or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action.

 

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

 

(m)         The
Issuer will be responsible for making calculations called for under the Notes, including but not limited to determination of redemption
price, premium, if any, and any other amounts payable on the Notes. The Issuer will make the calculations in good faith and, absent
manifest error, its calculations will be final and binding on the Holders of the Notes. The Issuer will provide a schedule of its
calculations to the Trustee when applicable, and the Trustee is entitled to rely conclusively on the accuracy of the Issuer’s
calculations without independent verification.

 

(n)          The
permissive right of the Trustee to do things enumerated in the Indenture shall not be construed as a duty.

 

(o)        
In addition to all of the rights, benefits, privileges and immunities granted to the Trustee and Agents hereunder, and notwithstanding
that this Indenture is not qualified under the TIA, all of the rights, benefits, privileges and immunities granted to a trustee
under the TIA are incorporated herein.

 

Section 7.3.     Individual
Rights of the Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may
otherwise deal with the Issuer or any Affiliate of the Issuer with the same rights it would have if it were not Trustee. Any Agent
may do the same with like rights and duties. The Trustee is also subject to Section 7.9.

 

Section 7.4.     Trustee’s
Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture,
the Notes or any Guarantee, it shall not be accountable for the use of the proceeds from the Notes or any money paid to the Issuer
or upon the Issuer’s direction under any provision of this Indenture, it shall not be responsible for the use or application
of any money received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital
herein or any statement in the Notes, any Officers’ Certificate delivered to the Trustee hereunder, or any other document
in connection with the sale of the Notes or pursuant to this Indenture other than the Trustee’s certificate of authentication
hereunder.

 

Section 7.5.     Notice
of Defaults. If a Default or Event of Default occurs and is continuing and if a Responsible Officer of the Trustee has knowledge
thereof as set forth in Section 7.2(j), the Trustee shall deliver to Holders a notice of the Default or Event of Default
within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium, if any,
or interest on any Note, the Trustee may withhold the notice if and so long as the board of directors, the executive committee
or a trust committee of directors or Responsible Officers of the Trustee in good faith determines that the withholding of such
notice is in the interest of the Holders.

 

Section 7.6.     Compensation
and Indemnity. The Issuer shall pay to the Trustee from time to time compensation for its acceptance of this Indenture and
for all services rendered by it hereunder as agreed upon in writing; including but not limited to acting as Registrar or Paying
Agent. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer
shall reimburse the Trustee, as applicable, promptly upon request for all reasonable disbursements, advances and expenses incurred
or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation, disbursements
and expenses of the Trustee’s agents and counsel.

 

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Each of the Issuer
and the Guarantors, jointly and severally, shall indemnify, defend, protect and hold harmless the Trustee (in its individual and
trustee capacities or in its capacity as Registrar or Paying Agent) and its officers, directors, employees and agents from and
against any and all claims, damages, losses, liabilities, actions, suits, costs or expenses incurred by it (including, without
limitation, the fees and expenses of its agents and counsel and court costs) arising out of or in connection with the acceptance
or administration of its duties under this Indenture and trusts thereunder, the performance of its obligations and/or exercise
of its rights hereunder, including the costs and expenses of enforcing this Indenture against the Issuer or any Guarantor (including
this Section 7.6) and defending itself against any claim (whether asserted by the Issuer or any Holder or any other Person)
or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any
such loss, claim, damage, liability or expense shall be caused by its own gross negligence or willful misconduct as determined
by a court of competent jurisdiction in a final, non-appealable judgment. The Trustee shall notify the Issuer promptly of any claim
for which it may seek indemnity. Failure by the Trustee to so notify the Issuer shall not relieve the Issuer of its obligations
hereunder. The Trustee may have one separate counsel, and the Issuer shall pay the reasonable fees and expenses of such counsel
for the Trustee. The Issuer need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld.

 

The obligations of
the Issuer and the Guarantors under this Section 7.6 shall survive the satisfaction and discharge of this Indenture, the
payment of the Notes or the resignation or removal of the Trustee.

 

To secure the Issuer’s
payment obligations in this Section 7.6, the Trustee shall have a Lien prior to the Notes on all money or property held
or collected by the Trustee, except that held in trust to pay principal or interest, if any, on particular Notes. Such Lien shall
survive the satisfaction and discharge of this Indenture, the payment of the Notes and the resignation or removal of the Trustee.

 

When the Trustee incurs
expenses or renders services after an Event of Default specified in Section 6.1(7) occurs, the expenses and the compensation
for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration
under any Bankruptcy Law.

 

Section 7.7.     Replacement
of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon
the successor trustee’s acceptance of appointment as provided in this Section 7.7.

 

The Trustee may resign
in writing at any time and be discharged from the trust hereby created by so notifying the Issuer. The Holders of a majority in
principal amount of the then outstanding Notes may remove the Trustee upon 30 days’ prior notice by so notifying the Trustee
and the Issuer in writing. The Issuer may remove the Trustee if:

 

(a)       the
Trustee fails to comply with Section 7.8;

 

(b)       the
Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy
Law;

 

(c)       a
custodian or public officer takes charge of the Trustee or its property; or

 

(d)       the
Trustee becomes incapable of acting.

 

If the Trustee resigns
or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuer shall promptly appoint a successor
trustee. Within one year after the successor trustee takes office, the Holders of a majority in principal amount of the then outstanding
Notes may appoint a successor trustee to replace the successor trustee appointed by the Issuer.

 

If a successor trustee
does not take office within 30 days after the retiring Trustee resigns or is removed, such retiring Trustee (at the expense of
the Issuer), the Issuer or the Holders of at least 10.0% in principal amount of the then outstanding Notes may petition any court
of competent jurisdiction for the appointment of a successor trustee.

 

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If the Trustee, after
written request by any Holder who has been a Holder for at least six months, fails to comply with Section 7.8, such Holder
may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee.

 

A successor trustee
shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the resignation or
removal of the retiring Trustee shall become effective, and the successor trustee shall have all the rights, powers and the duties
of the Trustee under this Indenture. The successor trustee shall mail a notice of its succession to the Holders. The retiring Trustee
shall promptly transfer all property held by it as Trustee to the successor Trustee; provided that all sums owing to such
Trustee hereunder have been paid and subject to the Lien provided for in Section 7.5. Notwithstanding replacement of the
Trustee pursuant to this Section 7.7, the Issuer’s and the Guarantors’ obligations under Section 7.6
shall continue for the benefit of the retiring Trustee.

 

Section 7.8.     Successor
Trustee by Merger, Etc. If the Trustee or any Agent consolidates, merges or converts into, or transfers all or substantially
all of its corporate trust business (including this transaction) to, another corporation, the successor corporation without any
further act shall be the successor Trustee or any Agent, as applicable.

 

Section 7.9.    Eligibility;
Disqualification. There shall at all times be a Trustee hereunder that is a corporation organized and doing business under
the laws of the United States or of any state thereof that is authorized under such laws to exercise corporate trustee power and
that is subject to supervision or examination by federal or state authorities. Such Trustee together with its affiliates shall
at all times have a combined capital surplus of at least $50.0 million as set forth in its most recent annual report of condition.

 

ARTICLE
VIII

DEFEASANCE; DISCHARGE OF THIS INDENTURE

 

Section 8.1.    Option
to Effect Legal Defeasance or Covenant Defeasance. The Issuer may, by delivery of an Officers’ Certificate, at any time,
elect to have either Section 8.2 or Section 8.3 applied to all outstanding Notes upon compliance with the conditions
set forth below in this Article VIII.

 

Section 8.2.    Legal
Defeasance. Upon the Issuer’s exercise under Section 8.1 of the option applicable to this Section 8.2,
the Issuer shall, subject to the satisfaction of the conditions set forth in Section 8.4, be deemed to have been discharged
from its obligations with respect to all outstanding Notes on the date the conditions set forth below are satisfied (hereinafter,
“Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer and the Guarantors shall be deemed
to have paid and discharged the entire Obligations represented by the Notes and the Guarantees, which shall thereafter be deemed
to be outstanding only for the purposes of Section 8.5 and the other Sections of this Indenture referred to in (a) and (b)
below, and to have satisfied all of its other Obligations under such Notes, Guarantees and this Indenture (and the Trustee, on
written demand of and at the expense of the Issuer, shall execute instruments acknowledging the same), and this Indenture shall
cease to be of further effect as to all such Notes and Guarantees, except for the following provisions which shall survive until
otherwise terminated or discharged hereunder: (a) the rights of Holders of outstanding Notes to receive payments in respect of
the principal of, and interest and premium, if any, on such Notes when such payments are due from the trust funds referred to in
Section 8.4(1); (b) the Issuer’s obligations with respect to such Notes under Section 2.2, Section 2.3,
Section 2.4, Section 2.6, Section 2.7, Section 2.10, and Section 4.2; (c) the rights, powers,
trusts, duties and immunities of the Trustee, including without limitation thereunder, under Section 7.2, Section 7.6,
Section 8.5 and Section 8.7 and the obligations of the Issuer and the Guarantors in connection therewith; and (d)
the provisions of this Article VIII. Subject to compliance with this Article VIII, the Issuer may exercise its option
under this Section 8.2 notwithstanding the prior exercise of its option under Section 8.3.

 

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Section 8.3.     Covenant
Defeasance. Upon the Issuer’s exercise under Section 8.1 above of the option applicable to this Section 8.3,
the Issuer shall, subject to the satisfaction of the conditions set forth in Section 8.4 below, be released from its obligations
under Section 4.3, Section 4.7, Section 4.8, Section 4.9, Section 4.10, Section 4.11,
Section 4.12, Section 4.13, Section 4.15, Section 4.16 and Section 5.1(a)(3) on and after the
date the conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall
thereafter be deemed not outstanding for the purposes of any direction, waiver, consent or declaration or act of Holders (and the
consequences of any thereof) in connection with such covenants, but shall continue to be deemed outstanding for all other purposes
hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this purpose, Covenant
Defeasance means that, with respect to the outstanding Notes, the Issuer or any of its Subsidiaries may omit to comply with and
shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly,
by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other
provision herein or in any other document and such omission to comply shall not constitute a Default under Section 6.1,
but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby.

 

Section 8.4.     Conditions
to Legal or Covenant Defeasance. The following shall be the conditions to the application of either Section 8.2 or Section
8.3 to the outstanding Notes:

 

(1)       the
Issuer must irrevocably deposit with the Trustee, as trust funds, in trust solely for the benefit of the Holders, U.S. dollars,
U.S. Government Obligations or a combination thereof, in such amounts as will be sufficient (without consideration of any reinvestment
of interest) in the opinion of a nationally recognized investment bank, appraisal firm or firm of independent public accountants
selected by the Issuer and delivered and addressed to the Trustee, to pay the principal of and interest, if any, on the outstanding
Notes on the stated date for payment thereof or on the applicable redemption date, as the case may be,

 

(2)       in
the case of Legal Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel in the United States reasonably
acceptable to the Trustee confirming that:

 

(A)       the
Issuer has received from, or there has been published by the United States Internal Revenue Service, a ruling, or

 

(B)       since
the Issue Date, there has been a change in the applicable U.S. federal income tax law,

 

in either case to the effect that, and
based thereon, such Opinion of Counsel shall confirm that, the Holders of the outstanding Notes will not recognize income, gain
or loss for U.S. federal income tax purposes as a result of the Legal Defeasance and will be subject to U.S. federal income tax
on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred,

 

(3)       in
the case of Covenant Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel in the United States reasonably
acceptable to the Trustee confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for U.S.
federal income tax purposes as a result of the Covenant Defeasance and will be subject to U.S. federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if the Covenant Defeasance had not occurred,

 

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(4)       no
Default shall have occurred and be continuing on the date of such deposit (other than a Default resulting from the borrowing of
funds to be applied to such deposit and the grant of any Lien securing such borrowings),

 

(5)       the
Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under any other material
agreement or instrument (other than this Indenture and the agreements governing any other Indebtedness being defeased, discharged
or replaced) to which the Issuer or any of its Subsidiaries is a party or by which the Issuer or any of its Subsidiaries is bound,

 

(6)       the
Issuer shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by it with the
intent of preferring the Holders over any other of its creditors or with the intent of defeating, hindering, delaying or defrauding
any other of its creditors or others, and

 

(7)       the
Issuer shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that the conditions
precedent provided for in clauses (1) through (6) of this Section 8.4 have been complied with.

 

Section 8.5.    Deposited
Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions. Subject to Section 8.6, all
U.S. dollar and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee,
collectively for purposes of this Section 8.5, the “Deposit Trustee”) pursuant to Section 8.4
or Section 8.8 in respect of the outstanding Notes shall be held in trust, shall not be invested, and shall be applied by
the Deposit Trustee in accordance with the provisions of such Notes and this Indenture to the payment, either directly or through
any Paying Agent (including the Issuer or any Subsidiary acting as Paying Agent) as the Deposit Trustee may determine, to the Holders
of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, if any, but such
money need not be segregated from other funds except to the extent required by law.

 

The Issuer shall pay
and indemnify the Deposit Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable
U.S. Government Obligations deposited pursuant to Section 8.4 or Section 8.8 or the principal and interest received
in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding
Notes.

 

Anything in this Article
VIII to the contrary notwithstanding, the Deposit Trustee shall deliver or pay to the Issuer from time to time upon the written
request of the Issuer and be relieved of all liability with respect to any U.S. dollars or non-callable U.S. Government Obligations
held by it as provided in Section 8.4 or Section 8.8 which, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Deposit Trustee (which may be the opinion delivered
under Section 8.4(1)), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance or satisfaction and discharge, as the case may be.

 

Section 8.6.     Repayment
to Issuer. Subject to any applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then
held by the Issuer, in trust for the payment of the principal of, premium, if any, or interest, if any, on any Note and remaining
unclaimed for two years after such principal and premium, if any, or interest has become due and payable shall be paid to the Issuer
on its written request or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall thereafter,
as an unsecured general creditor, look only to the Issuer for payment thereof; and all liability of the Trustee or such Paying
Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, shall thereupon cease; provided,
however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of
the Issuer cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money
remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such notification
or publication, any unclaimed balance of such money then remaining shall be repaid to the Issuer.

 

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Section 8.7.     Reinstatement.
If the Trustee or Paying Agent is unable to apply any U.S. dollars or U.S. Government Obligations in accordance with Section
8.2, Section 8.3 or Section 8.8, as the case may be, by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, then the obligations of the Issuer and the Guarantors
under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.2,
Section 8.3 or Section 8.8 until such time as the Trustee or Paying Agent is permitted to apply all such money in
accordance with Section 8.2, Section 8.3 or Section 8.8, as the case may be; provided, however,
that, if the Issuer makes any payment of principal of, premium, if any, or interest on any Note following the reinstatement of
its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money
held by the Trustee or Paying Agent.

 

Section 8.8.     Discharge.
This Indenture will be discharged and will cease to be of further effect (except as to rights of registration of transfer or exchange
of Notes which shall survive until all Notes have been canceled and the rights, protections and immunities of the Trustee) as to
all outstanding Notes when either:

 

(1)       all
the Notes that have been authenticated and delivered (except lost, stolen or destroyed Notes which have been replaced or paid and
Notes for whose payment money has been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to
the Issuer or discharged from this trust), have been delivered to the Trustee for cancellation; or

 

(2)     (A)         all
Notes not delivered to the Trustee for cancellation otherwise (i) have become due and payable, (ii) will become due and payable,
or may be called for redemption, within one year or (iii) have been called for redemption pursuant to Section 3.7 and, in
any case, the Issuer has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the
benefit of the Holders, cash in U.S. dollars, U.S. Government Obligations or a combination thereof, in such amounts as will be
sufficient without consideration of any reinvestment of interest (which in the case of a deposit of U.S. Government Obligations
will be in the opinion of a nationally recognized investment bank, appraisal firm or firm of independent public accountants selected
by the Issuer and delivered to the Trustee) to pay and discharge the entire Indebtedness (including all principal and accrued interest,
if any) on the Notes not theretofore delivered to the Trustee for cancellation (provided that if such redemption is made
as provided under Section 3.7(a), (x) the amount of cash in U.S. dollars, non-callable Government Securities, or a combination
thereof, that must be irrevocably deposited will be determined using an assumed Applicable Premium calculated as of the date of
such deposit and (y) the depositor must irrevocably deposit or cause to be deposited additional money in trust on the redemption
date as necessary to pay the Applicable Premium as determined by such date) (any such amount, the “Applicable Premium
Deficit”) (it being understood that any satisfaction and discharge shall be subject to the condition subsequent that
such Applicable Premium Deficit is in fact paid); provided that the Trustee shall have no liability whatsoever in the event
that such Applicable Premium Deficit is not in fact paid after any satisfaction and discharge of this Indenture and that any Applicable
Premium Deficit will be set forth in an Officers’ Certificate delivered to the Trustee simultaneously with the deposit of
such Applicable Premium Deficit that confirms that such Applicable Premium Deficit will be applied toward such redemption);

 

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(B)            the
Issuer has paid or caused to be paid all other sums payable by it under this Indenture; and

 

(C)            the
Issuer has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment
of the Notes at maturity or on the date of redemption, as the case may be.

 

In addition, the Issuer
must deliver an Officers’ Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction
and discharge have been complied with.

 

After the Notes are
no longer outstanding, the Issuer’s and the Guarantors’ obligations in Section 7.6, Section 8.5 and Section
8.7 shall survive any discharge pursuant to this Section 8.8.

 

After such delivery
or irrevocable deposit and receipt of the Officers’ Certificate and Opinion of Counsel, the Trustee, upon written request,
shall acknowledge in writing the discharge of the Issuer’s obligations under the Notes and this Indenture except for those
surviving obligations specified above.

 

ARTICLE
IX

AMENDMENT, SUPPLEMENT AND WAIVER

 

Section 9.1.    Without
Consent of Holders of the Notes. Notwithstanding Section 9.2, without the consent of any Holders, the Issuer, the Guarantors
and the Trustee, at any time and from time to time, may amend or supplement this Indenture, the Guarantees or the Notes issued
hereunder for any of the following purposes:

 

(1)       to
cure any ambiguity, defect or inconsistency;

 

(2)       to
provide for uncertificated Notes in addition to or in place of certificated Notes;

 

(3)       to
provide for the assumption of the Issuer’s or a Guarantor’s obligations to the Holders in the case of a merger, consolidation
or sale of all or substantially all of the Issuer’s or such Guarantor’s assets, or sale, lease, transfer, conveyance
or other disposition or assignment in accordance with Section 5.1;

 

(4)       to
add any Guarantee or to effect the release of any Guarantor from any of its obligations under its Guarantee or the provisions of
this Indenture (to the extent in accordance with this Indenture);

 

(5)       to
make any change that would provide any additional rights or benefits to the Holders or that does not materially adversely affect
the rights of any Holder;

 

(6)       to
secure the Notes or any Guarantees or any other obligation under this Indenture;

 

(7)       to
evidence and provide for the acceptance of appointment by successor trustees;

 

(8)       to
conform the text of this Indenture or the Notes to any provision of the “Description of notes” contained in the Offering
Memorandum, to the extent that such provision in the “Description of notes” was intended to be a substantially verbatim
recitation of a provision of this Indenture, the Guarantees or the Notes, as evidenced by an Officers’ Certificate of the
Issuer; or

 

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(9)       to
provide for the issuance of Additional Notes in accordance with this Indenture.

 

After an amendment
under this Indenture becomes effective, the Issuer shall deliver to Holders of the Notes a notice briefly describing such amendment.
However, the failure to give such notice to all Holders, or any defect therein, will not impair or affect the validity of the amendment.

 

Section 9.2.    With
Consent of Holders of Notes. With the consent of the Holders of not less than a majority in aggregate principal amount of the
Notes then outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange
offer for, the Notes), the Issuer, the Guarantors and the Trustee may amend or supplement this Indenture, the Notes or any Guarantees
or, subject to Section 6.7, waive any existing Default or Event of Default or compliance with any provision of this Indenture
or the Notes; provided, however, that no such amendment, supplement or waiver shall, without the consent of the Holder
of each outstanding Note affected thereby (including, without limitation, consents obtained in connection with a purchase of, or
tender offer or exchange offer for, the Notes):

 

(1)       reduce,
or change the maturity of, the principal (or Additional Amounts, if any) of any Note;

 

(2)       reduce
the rate of or extend the time for payment of interest (or Additional Amounts, if any) on any Note;

 

(3)       reduce
any premium payable upon redemption of the Notes or change the date on which any Notes are subject to redemption (other than the
notice provisions) or waive any payment with respect to the redemption of the Notes; provided, however, that solely
for the avoidance of doubt, and without any other implication, any purchase or repurchase of Notes (including pursuant to Section
4.10 and Section 4.13) shall not be deemed a redemption of the Notes;

 

(4)       make
any Note payable in money or currency other than that stated in the Notes;

 

(5)       modify
or change any provision of this Indenture or the related definitions to affect the ranking of the Notes or any Guarantee in a manner
that adversely affects the Holders;

 

(6)       reduce
the percentage of Holders necessary to consent to an amendment or waiver to this Indenture or the Notes;

 

(7)       waive
a default in the payment of principal of or premium or interest, if any, on any Notes (except a rescission of acceleration of the
Notes by the Holders thereof as provided in this Indenture and a waiver of the payment default that resulted from such acceleration);

 

(8)       modify
the contractual rights of Holders to receive payments of principal of or interest or Additional Amounts, if any, on the Notes on
or after the due date therefor or to institute suit for the enforcement of any payment on the Notes;

 

(9)       release
any Guarantor from any of its obligations under its Guarantee or this Indenture, except as permitted by this Indenture; or

 

(10)     make
any change in these amendment and waiver provisions.

 

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It shall not be necessary
for the consent of the Holders under this Section 9.2 to approve the particular form of any proposed amendment or waiver,
but it shall be sufficient if such consent approves the substance thereof.

 

Section 9.3.     Revocation
and Effect of Consents. Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is
a continuing consent by the Holder and every subsequent Holder of that Note or portion of the Note that evidences the same debt
as the consenting Holder’s Note, even if notation of the consent is not made on the Note. However, any such Holder or subsequent
Holder may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the waiver, supplement
or amendment becomes effective. When an amendment, supplement or waiver becomes effective in accordance with its terms, it thereafter
binds every Holder.

 

The Issuer may, but
shall not be obligated to, fix a record date for determining which Holders consent to such amendment, supplement or waiver.

 

Section 9.4.    Notation
on or Exchange of Notes. The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note
thereafter authenticated. The Issuer in exchange for all Notes may issue and the Trustee shall authenticate new Notes that reflect
the amendment, supplement or waiver.

 

Failure to make the
appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver.

 

Section 9.5.    Trustee
to Sign Amendments, Etc. The Trustee shall sign any amended or supplemental indenture authorized pursuant to this Article
IX if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. In
signing or refusing to sign any amendment or supplemental indenture, the Trustee shall be provided with and (subject to Section
7.1) shall be fully protected in relying upon an Officers’ Certificate and an Opinion of Counsel stating that the execution
of such amendment or supplemental indenture is authorized or permitted by this Indenture and that all conditions precedent thereto
have been met or waived.

 

ARTICLE
X

GUARANTEES

 

Section 10.1.    Guarantees.

 

(a)       Each
Guarantor hereby jointly and severally, fully and unconditionally guarantees the Notes and obligations of the Issuer hereunder
and thereunder, and guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee, that: (i)
the principal of and premium, if any, and interest, if any, on the Notes shall be paid in full when due, whether at Stated Maturity,
by acceleration, call for redemption or otherwise, together with interest on the overdue principal, if any, and interest on any
overdue interest, if any, to the extent lawful, and all other Obligations of the Issuer to the Holders or the Trustee under this
Indenture or the Notes shall be paid in full or performed, all in accordance with the terms hereof and thereof; and (ii) in case
of any extension of time of payment or renewal of any Notes or of any such other obligations, the same shall be paid in full when
due or performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise.
Each of the Guarantees shall be a guarantee of payment and not of collection.

 

(b)       Each
Guarantor hereby agrees that its obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability
of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect
to any provisions hereof or thereof, the recovery of any judgment against the Issuer, any action to enforce the same or any other
circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor.

 

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(c)       Each
Guarantor hereby waives the benefits of diligence, presentment, demand for payment, filing of claims with a court in the event
of insolvency or bankruptcy of the Issuer, any right to require a proceeding first against the Issuer or any other Person, protest,
notice and all demands whatsoever and covenants that the Guarantee of such Guarantor shall not be discharged as to any Note or
this Indenture except by complete performance of the obligations contained in such Note and this Indenture and such Guarantee.
Each of the Guarantors hereby agrees that, in the event of a Default in payment of principal or premium, if any, or interest on
any Note, whether at its Stated Maturity, by acceleration, call for redemption, purchase or otherwise, legal proceedings may be
instituted by the Trustee on behalf of, or by, the Holder of such Note, subject to the terms and conditions set forth in this Indenture,
directly against each of the Guarantors to enforce each such Guarantor’s Guarantee without first proceeding against the Issuer
or any other Guarantor. Each Guarantor agrees that if, after the occurrence and during the continuance of an Event of Default,
the Trustee or any of the Holders are prevented by applicable law from exercising their respective rights to accelerate the maturity
of the Notes, to collect interest on the Notes, or to enforce or exercise any other right or remedy with respect to the Notes,
such Guarantor shall pay to the Trustee for the account of the Holders, upon demand therefor, the amount that would otherwise have
been due and payable had such rights and remedies been permitted to be exercised by the Trustee or any of the Holders and any other
amounts due and owing to the Trustee under this Indenture.

 

(d)       If
any Holder or the Trustee is required by any court or otherwise to return to the Issuer or any Guarantor, or any custodian, trustee,
liquidator or other similar official acting in relation to the Issuer or any Guarantor, any amount paid by any of them to the Trustee
or such Holder, the Guarantee of each of the Guarantors, to the extent theretofore discharged, shall be reinstated in full force
and effect. This paragraph 10.1(d) shall remain effective notwithstanding any contrary action which may be taken by the
Trustee or any Holder in reliance upon such amount required to be returned. This paragraph 10.1(d) shall survive the termination
of this Indenture.

 

(e)          Each
Guarantor further agrees that, as between each Guarantor, on the one hand, and the Holders and the Trustee, on the other hand,
(x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article VI for the purposes of the
Guarantee of such Guarantor, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the obligations guaranteed hereby, and (y) in the event of any acceleration of such obligations as provided in Article VI,
such obligations (whether or not due and payable) shall forthwith become due and payable by each Guarantor for the purpose of the
Guarantee of such Guarantor.

 

(f)          Each
Guarantor that makes a payment for distribution under its Guarantee is entitled upon payment in full of all guaranteed obligations
under this Indenture to seek contribution from each other Guarantor in a pro rata amount of such payment based on the respective
net assets of all the Guarantors at the time of such payment in accordance with GAAP.

 

Section 10.2.   Execution
and Delivery of Guarantee. To evidence its Guarantee set forth in Section 10.1, each Guarantor agrees that this Indenture
or a supplemental indenture in substantially the form attached hereto as Exhibit B shall be executed on behalf of such Guarantor
by an Officer of such Guarantor (or, if an officer is not available, by a board member or director) on behalf of such Guarantor
by manual or facsimile signature. Each Guarantor hereby agrees that its Guarantee set forth in Section 10.1 hereof shall
remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes.
In case the Officer, board member or director of such Guarantor whose signature is on this Indenture or supplemental indenture,
as applicable, no longer holds office at the time the Trustee authenticates any Note, the Guarantee shall be valid nevertheless.

 

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The delivery of any
Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in this
Indenture on behalf of the Guarantors.

 

Section 10.3.   Severability.
In case any provision of any Guarantee shall be invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 10.4.   Limitation
of Guarantors’ Liability. Each Guarantor and by its acceptance hereof each Holder confirms that it is the intention of
all such parties that the Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy
Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law or the provisions
of its local law relating to fraudulent transfer or conveyance. To effectuate the foregoing intention, the Trustee, the Holders
and Guarantors hereby irrevocably agree that the obligations of such Guarantor under its Guarantee (other than a company that is
a direct or indirect parent of the Issuer) shall be limited to the maximum amount that will not, after giving effect to all other
contingent and fixed liabilities of such Guarantor (including, without limitation, any guarantees under the Credit Agreement) and
after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other
Guarantor in respect of the obligations of such other Guarantor under its Guarantee, result in the obligations of such Guarantor
under its Guarantee constituting a fraudulent conveyance, fraudulent preference or fraudulent transfer or otherwise reviewable
under applicable law.

 

Section 10.5.   Releases.
A Guarantor shall be automatically released of any Obligations under its Guarantee and this Indenture upon:

 

(a)         any
sale or other disposition of all or substantially all of the assets of such Guarantor (by merger, consolidation or otherwise) to
a Person that is not (either before or after giving effect to such transaction) the Issuer or a Restricted Subsidiary, if the sale
or other disposition does not violate Section 4.10 of this Indenture;

 

(b)         any
sale, exchange or transfer (by merger, consolidation or otherwise) of the Equity Interests of such Guarantor after which the applicable
Guarantor is no longer a Restricted Subsidiary, which sale, exchange or transfer does not violate Section 4.10 of this Indenture;

 

(c)          the
proper Designation of such Guarantor by the Issuer as an Unrestricted Subsidiary in accordance with the terms of this Indenture;

 

(d)          in
the case of any Restricted Subsidiary that after the Effective Date is required to provide a Guarantee pursuant to Section 4.15,
the release or discharge of the guarantee by, or direct obligation of, such Guarantor with respect to the RCF Credit Agreement,
Debt Facility or capital markets debt securities that resulted in the creation of such Guarantee;

 

(e)          legal
or covenant defeasance or satisfaction and discharge of this Indenture pursuant to Section 8.2, Section 8.3 or Section
8.8; or

 

(f)          dissolution
of such Guarantor; provided no Default has occurred that is continuing; or

 

(g)          following
the delivery by the Issuer to the Trustee of the Officers’ Certificate on the Termination Date under Section 4.17.

 

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Upon delivery to the
Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that the conditions to release of a Guarantor’s
Guarantee set forth above have been satisfied, the Trustee shall execute any documents reasonably requested by the Issuer to evidence
such release.

 

Any Guarantor not released
from its obligations under its Guarantee shall remain liable for the full amount of principal of and interest on the Notes and
for the other obligations of any Guarantor under this Indenture as provided in this Article X.

 

Section 10.6.   Benefits
Acknowledged. Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements
contemplated by this Indenture and that its guarantee and waivers pursuant to its Guarantee are knowingly made in contemplation
of such benefits.

 

Section 10.7.   Foreign
Limitations.

 

(a)           Notwithstanding
anything to the contrary in this Indenture, for the avoidance of doubt:

 

(1)       the
obligations of each Guarantor that is organized in Brazil (each a “Brazilian Guarantor”) under this Indenture
(or any supplement thereto) shall be limited by (i) unavailability of specific performance and summary judgment (processo executivo);
and (ii) bankruptcy, insolvency, fraudulent transfer, judicial and extrajudicial reorganization proceedings, moratorium, liquidation
and other laws of general application relating to or affecting the rights of creditors. Under Brazilian law, the priority of claims
against a bankrupt company in Brazil shall be determined by law and may not be freely modified by creditors or the debtor. Under
Brazilian applicable bankruptcy laws, claims in bankruptcy shall be classified in the following order of priority: (A) claims related
to employment, limited to 150 minimum wage per employee (claims for damages caused by accidents at work will be paid with the same
priority without any cap limitation); (B) secured claims, up to the value of the secured asset; (C) tax and social security claims,
except for tax penalties; (D) claims enjoying special privilege; (E) claims enjoying general privilege; (F) ordinary claims, including
also labor claims exceeding the amount indicated in item (A) above; (G) contractual penalties and monetary penalties for breach
of criminal or administrative laws, including also tax penalties; and (H) subordinated claims. Claims for expenses incurred by
the bankrupt estate, obligations resulting from acts validly performed either during judicial corporate restructuring or after
bankruptcy, as well as tax claims due to triggering events occurred after bankruptcy, as well as post-petition credits or loans,
goods or services granted to the debtor after the filing for judicial reorganization, shall have priority in payment over the aforesaid
claims. The constitutionality of both the limitation to 150 minimum wage per employee under claims for employment (item (A) above)
and the priority of obligations resulting from acts validly performed either during judicial corporate restructuring or after bankruptcy
are currently under dispute before the Brazilian Federal Supreme Court, and no decision has been granted in connection with such
lawsuit;

 

(2)       no
Guarantor that is organized in the Netherlands shall be liable under this Indenture (or any supplement thereto) to the extent that,
if it were so liable, its entry into this Indenture (or any supplement thereto) would violate sections 2:98c of the Dutch Civil
Code; and

 

(3)       the
obligations of each Guarantor that is organized in Norway (each a “Norwegian Guarantor”) under this Indenture
(or any supplement thereto) shall be limited by the mandatory provisions of law applicable to such Norwegian Guarantor limiting
the legal capacity or ability of such Norwegian Guarantor to provide security and/or grant and/or honor a guarantee, including,
but not limited to, the provisions of sections 8-7 and 8-10 of the Norwegian Companies Act of 1997 which regulate unlawful financial
assistance and other prohibited loans, guarantees and joint and several liability as well as the providing of security. The limitations
set out in this Section 10.7(a)(2) shall apply mutatis mutandis to any guarantee, undertaking, obligation, indemnity
and any similar obligation resulting in a payment obligation of any Norwegian Guarantor, including but not limited to distributions,
cash sweeps, credits and set-offs, pursuant to or permitted by this Indenture and the Notes and made by such Norwegian Guarantor.
The liability of each Norwegian Guarantor under this Indenture and the Notes shall be limited to $1,300,000,000 plus unpaid amounts
of interest, default interest, breaking costs, fees, commissions, costs, expenses and other liabilities under this Indenture and
the Notes.

 

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ARTICLE
XI

MISCELLANEOUS

 

Section 11.1.   Concerning
the Trust Indenture Act. The TIA shall not be applicable to, and shall not govern, this Indenture, the Notes or the Guarantees.

 

Section 11.2.   Notices.
Any notice, request, direction, instruction or communication by the Issuer, any Guarantor or the Trustee to the others is duly
given if in writing and delivered in person or mailed by first class mail (registered or certified, return receipt requested),
telecopier or overnight air courier guaranteeing next day delivery, to the addresses set forth below:

 

If to the Issuer or
any Guarantor:

 

TechnipFMC plc

One St. Paul’s Churchyard

London, EC4M 8AP, United Kingdom

Attention: Chief Financial Officer

 

If to the Trustee:

 

U.S. Bank National Association

13737 Noel
Road, Suite 800

Dallas, TX 75240

Attention: Global Corporate Trust

 

The parties hereto,
by written notice to the others, may designate additional or different addresses for subsequent notices or communications.

 

All notices and communications
(other than those sent to Holders and the Trustee) shall be deemed to have been duly given: at the time delivered by hand, if personally
delivered; five (5) Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if
telecopied; and the next Business Day after timely delivery to the courier, if sent by overnight air courier promising next Business
Day delivery.

 

Any notice or communication
to a Holder and the Trustee shall be mailed by first class mail or by overnight air courier promising next Business Day delivery
to its address shown on the register kept by the Registrar. Notwithstanding the foregoing, as long as the Notes are Global Notes,
notices to be given to the Holders shall be given to the Depositary, in accordance with its applicable policies as in effect from
time to time. Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect
to other Holders.

 

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In respect of this
Indenture, the Trustee shall not have any duty or obligation to verify or confirm that the Person sending instructions, directors,
reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such
instructions, directors, reports notices or other communications or information on behalf of the party purporting to send such
electronic transmission; and the Trustee shall not have any liability for any losses, liability, costs or expenses incurred or
sustained by any party as a result of such reliance upon or compliance with such instructions directors, reports, notices or other
communications or information. Each other party, agrees to assume all risks arising out of the use of electronic methods to submit
instructions, directions, reports, notices or other communications or indemnifications to the Trustee, including without limitation
the risk of the Trustee acting on unauthorized instructions, notices, reports or other communications or information, and the risks
of interception and misuse by third parties.

 

If a notice or communication
is delivered in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it,
except in the case of notices or communications given to the Trustee, which shall be effective only upon actual receipt.

 

If the Issuer delivers
a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time.

 

Section 11.3.    Certificate
and Opinion as to Conditions Precedent. Upon any request or application by the Issuer to the Trustee to take any action under
this Indenture, the Issuer shall furnish to the Trustee upon request:

 

(a)       an
Officers’ Certificate (which shall include the statements set forth in Section 11.4) in form and substance reasonably
satisfactory to the Trustee stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided
for in this Indenture relating to the proposed action have been satisfied; and

 

(b)       an
Opinion of Counsel (which shall include the statements set forth in Section 11.4) in form and substance reasonably satisfactory
to the Trustee stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied.

 

Section 11.4.   Statements
Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture shall include:

 

(a)       a
statement that the Person making such certificate or opinion has read and understands such covenant or condition;

 

(b)       a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;

 

(c)       a
statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him
to express an informed opinion as to whether or not such covenant or condition has been satisfied; and

 

(d)       a
statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.

 

Section 11.5.    Rules
by Trustee and Agents. The Trustee may make reasonable rules for action by or at a meeting of Holders. Each of the Agents
may make reasonable rules and set reasonable requirements for its functions.

 

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Section 11.6.  No
Personal Liability of Directors, Officers, Employees and Stockholders. No director, officer, employee, incorporator or stockholder,
partner or member of the Issuer or any Guarantor, as such, will have any liability for any indebtedness, obligations or liabilities
of the Issuer under the Notes or this Indenture or of any Guarantor under its Guarantee or for any claim based on, in respect of,
or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The
waiver and release are part of the consideration for issuance of the Notes and the Guarantees.

 

Section 11.7.  Governing
Law; Consent to Jurisdiction. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES
AND THE GUARANTEES. Each of the parties to this Indenture each hereby irrevocably submits to the non-exclusive jurisdiction of
any New York State or federal court sitting in the Borough of Manhattan in The City of New York in any action or proceeding arising
out of or relating to the Notes, the Guarantees or this Indenture, and all such parties hereby irrevocably agree that all claims
in respect of such action or proceeding may be heard and determined in such New York State or federal court and hereby irrevocably
waive, to the fullest extent that they may legally do so, the defense of an inconvenient forum to the maintenance of such action
or proceeding.

 

Section 11.8.   No
Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret any other indenture, loan or debt agreement
of the Issuer or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not be used to interpret
this Indenture.

 

Section 11.9.   Successors.
All agreements of the Issuer and the Guarantors in this Indenture and the Notes and the Guarantees, as applicable, shall bind their
respective successors and assigns. All agreements of the Trustee in this Indenture shall bind its respective successors and assigns.

 

Section 11.10.Severability.
In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 11.11. Execution
in Counterparts. This Indenture may be executed in two or more counterparts, which when so executed shall constitute one and
the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute
effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for
all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures
for all purposes. The words “execution,” “signed,” “signature,” “delivery,” and
words of like import in or relating to this Agreement or any document to be signed in connection with this Agreement shall be deemed
to include electronic signatures, deliveries 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, and the parties hereto consent to conduct the transactions contemplated hereunder by electronic means.

 

Section 11.12.  Table
of Contents, Headings, Etc. The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and shall in
no way modify or restrict any of the terms or provisions hereof.

 

Section 11.13.  Acts
of Holders.

 

(a)         Any
request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken
by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by agent duly appointed in writing (or, with respect to Global Notes, otherwise in accordance with the rules and procedures
of the Depositary); and, except as herein otherwise expressly provided, such action shall become effective when such instrument
or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Issuer. Such instrument or instruments
(and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of Holders
signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall
be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Issuer, if made in the manner provided
in this Section 11.13.

 

    	 	89	 

     

    

   

(b)         The
fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying
that the individual signing such instrument or writing acknowledged to such officer the execution thereof. Where such execution
is by a signer acting in a capacity other than such signer’s individual capacity, such certificate or affidavit shall also
constitute sufficient proof of such signer’s authority. The fact and date of the execution of any such instrument or writing,
or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient.

 

(c)          The
ownership of Notes shall be proved by the register maintained by the Registrar hereunder.

 

(d)         Any
request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Note shall bind every future
Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or
in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Issuer in reliance thereon, whether
or not notation of such action is made upon such Note.

 

(e)          If
the Issuer shall solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act,
the Issuer may, at its option, by or pursuant to a board resolution of the Issuer’s Board of Directors, fix in advance a
record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent,
waiver or other Act, but the Issuer shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization,
direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at
the close of business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the
requisite proportion of outstanding Notes have authorized or agreed or consented to such request, demand, authorization, direction,
notice, consent, waiver or other Act, and for that purpose the outstanding Notes shall be computed as of such record date; provided
that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become
effective pursuant to the provisions of this Indenture not later than six months after the record date.

 

Section 11.14. Force
Majeure. In no event shall the Trustee or Agent be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation,
fire, riots, strikes, or work stoppages for any reason, embargoes, governmental actions, accidents, acts of war or terrorism, civil
or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software and hardware) services, it being understood that the Trustee shall use reasonable efforts
which are consistent with accepted practices in the U.S. banking industry to resume performance as soon as practicable under the
circumstances.

 

    	 	90	 

     

    

  

Section 11.15. Legal
Holidays. If any scheduled payment date with respect to the Notes falls on a day that is not a Business Day, the payment to
be made on such payment date will be made on the next succeeding Business Day with the same force and effect as if made on such
payment date, and no additional interest will accrue solely as a result of such delayed payment.

 

Section 11.16. USA
PATRIOT Act. The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act, the Trustee, like all
financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify,
and record information that identifies each person or legal entity that establishes a relationship or opens an account. The Company
agrees that it will provide the Trustee with information about the Issuer as the Trustee may reasonably request in order for the
Trustee to satisfy the requirements of the USA PATRIOT Act.

 

Section 11.17. Waiver
of Jury Trial. EACH OF THE ISSUER, ANY GUARANTOR AND THE TRUSTEE HEREBY, AND EACH HOLDER OF A NOTE BY ITS ACCEPTANCE THEREOF,
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREBY OR HEREBY.

 

[Signatures on following page]

 

    	 	91	 

     

    

 

Dated as of January 29,
2021.

 

 

 

	COMPANY	 
	 	 
	 	TECHNIPFMC PLC
	 	 	 
	 	By:	/s/ Alf Melin
	 	Name:	Alf Melin
	 	Title:	Executive Vice President and
	 	 	Chief Financial Officer

 

	 	
        GUARANTORS

         

        FMC Technologies Surface Integrated Services, Inc.

        FMC Subsea Service, Inc.

        FMC Technologies Energy LLC

        FMC Technologies Measurement Solutions, Inc.

        FMC Technologies Overseas Ltd.

        FMC Technologies, Inc.

        Schilling Robotics, LLC

        Subtec Middle East Limited

        TechnipFMC Umbilicals, Inc.

        TechnipFMC US Holdings Inc.

        TechnipFMC US LLC 1

        TechnipFMC US LLC 2

        TechnipFMC USA, Inc.

        Control Systems International, Inc.

        FMC Technologies Separation Systems, Inc.

        FMX, LLC

        as Guarantors

 

	 	By:	/s/ Alf Melin
	 	Name:	Alf Melin
	 	Title:	Executive Vice President and
	 	 	Chief Financial Officer

 

Signature Page

Indenture

 

    	 	 	 

     

    

 

 

	 	
        U.S. BANK NATIONAL ASSOCIATION, as

        Trustee, Registrar and Paying Agent

	 	 	 
	 	By:	/s/ Michael K. Herberger
	 	Name:	Michael K. Herberger
	 	Title:	Vice President

 

Signature Page

Indenture

 

    	 	 	 

     

    

 

EXHIBIT A

 

FORM OF NOTE

[Global Note Legend]

 

UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY OR SUCH OTHER REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE.

 

[Restricted Notes Legend]

 

THIS SECURITY HAS NOT BEEN AND WILL NOT
BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR THE SECURITIES LAWS
OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND
ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR
TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS SIX MONTHS AFTER THE LATER OF THE ORIGINAL ISSUE DATE
HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE
OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF,
(B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE
SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE U.S. SECURITIES ACT (“RULE 144A”), TO A PERSON IT
REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT
OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION
S UNDER THE U.S. SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a) UNDER
THE U.S. SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT
OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF SECURITIES OR (F) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S
RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER
AFTER THE RESALE RESTRICTION TERMINATION DATE.

 

    	 	A-1	 

     

    

  

BY ITS ACQUISITION OF THIS SECURITY, THE
HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO
PURCHASE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT
THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER
ANY OTHER U.S. OR NON-U.S. FEDERAL, STATE, LOCAL OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE
CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS”
OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE PURCHASE, HOLDING AND DISPOSITION OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR
LAWS.

 

[Regulation S Legend]

 

THIS SECURITY HAS NOT BEEN AND WILL NOT
BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR THE SECURITIES LAWS
OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND
ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR
TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE
HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR
OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON
REGULATION S, ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED
EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER
THE U.S. SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”
AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR
OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE U.S. SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED
INVESTOR” WITHIN THE MEANING OF RULE 501(a) UNDER THE U.S. SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND
THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM
PRINCIPAL AMOUNT OF SECURITIES OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES
ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES
(D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH
OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. BY ITS ACQUISITION
HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS
ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT.

 

    	 	A-2	 

     

    

 

BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER
THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO PURCHASE
OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT
IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY
OTHER U.S. OR NON-U.S. FEDERAL, STATE, LOCAL OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE
(“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY
SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE PURCHASE, HOLDING AND DISPOSITION OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR
LAWS.

 

    	 	A-3	 

     

    

 

6.500% Senior Notes due 2026

 

		No.	$_______________

 

CUSIP NO.1

ISIN

 

TechnipFMC plc (including
any successor thereto) promises to pay to [Cede & Co.]2 or registered assigns, the principal sum of $[●]
(________ UNITED STATES DOLLARS) [(as may be increased or decreased as set forth on the Schedule of Increases and Decreases attached
hereto)]3 on February 1, 2026.

 

Interest Payment Dates:
February 1 and August 1, beginning August 1, 2021

 

Record Dates: January 15
and July 15 (whether or not a Business Day)

 

Reference is made to further
provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as
set forth at this place.

 

Unless the certificate
of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall
not be entitled to any benefits under the Indenture referred to on the reverse hereof or be valid or obligatory for any purpose.

 

 

1 Rule 144A Note CUSIP: 87854XAE1

Rule 144A Note ISIN: US87854XAE13

Regulation S Note CUSIP: G87110AC9

Regulation S Note ISIN: USG87110AC93

IAI Note CUSIP: 87854XAF8

IAI Note ISIN: US87854XAF87

2 For Global Notes only.

3 For Global Notes only.

 

    	 	A-4	 

     

    

 

	 	TechnipFMC plc
	 	 	 
	 	By:	 
	 	Name:	Alf Melin
	 	Title:	Executive Vice President and Chief Financial Officer

 

	This is one of the Notes referred to in the within-mentioned Indenture:	 
	 	 
	Dated:	 
	 	 
	U.S. Bank National Association, as Trustee	 

 

	By:	 	 

	Name: 	 	 
	Title:	Authorized Signatory	 

 

    	 	A-5	 

     

    

 

(Reverse of 6.500% Senior Note)

6.500% Senior Notes due 2026

 

Capitalized terms used
herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 

(1)          Interest.
TechnipFMC plc, a public limited company incorporated under the laws of England and Wales, and any successor thereto (the “Issuer”)
promises to pay interest on the unpaid principal amount of this 6.500% Senior Note due 2026 (a “Note”) at a
fixed rate of 6.500% per annum. The Issuer will pay interest in U.S. dollars semiannually in arrears on February 1 and August 1,
commencing August 1, 2021 (each an “Interest Payment Date”) or if any such day is not a Business Day, on the
next succeeding Business Day with the same force and effect as if made on such Interest Payment Date, and no additional interest
shall accrue solely as a result of such delayed payment. Interest on the Notes shall accrue from the most recent date to which
interest has been paid, or, if no interest has been paid, from and including the date of issuance. The Issuer shall pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to the then
applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), at the same rate
to the extent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months.

 

(2)          Method
of Payment. The Issuer shall pay interest on the Notes (except defaulted interest) on the applicable Interest Payment Date
to the Persons who are registered Holders at the close of business on the January 15 and July 15 preceding the Interest Payment
Date (whether or not a Business Day), even if such Notes are cancelled after such record date and on or before such Interest Payment
Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. If a Holder of at least $5,000,000
aggregate principal amount of the Notes in physical, certificated form has given written wire transfer instructions to the Trustee
at least ten Business Days prior to the applicable Interest Payment Date, the Issuer will make all payments of principal, premium,
and interest, if any, on such Holder’s Notes by wire transfer of immediately available funds to the account in New York specified
in those instructions. Otherwise, payments on the Notes will be made at the office or agency of the Trustee or Paying Agent in
the City and State of New York unless the Issuer elects to make interest payments by check mailed to the Holders at their addresses
set forth in the register of Holders. Such payment shall be in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts.

 

Any payments of principal
of this Note prior to Stated Maturity shall be binding upon all future Holders of this Note and of any Note issued upon the registration
of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. The final principal amount due and payable
at the maturity of this Note shall be payable only upon presentation and surrender of this Note at an office of the Trustee or
the Trustee’s agent appointed for such purposes. Payments in respect of Global Notes will be made by wire transfer of immediately
available funds to the Depositary.

 

(3)          Paying
Agent and Registrar. Initially, U.S. Bank National Association shall act as Paying Agent and Registrar. The Issuer may change
any Paying Agent or Registrar without notice to any Holder, and the Issuer and/or any Restricted Subsidiaries may act as Paying
Agent or Registrar.

 

(4)          Indenture.
The Issuer issued the Notes under an Indenture, dated as of January 29, 2021 (the “Indenture”), among the Issuer,
the Guarantors thereto and the Trustee. The terms of the Notes include those stated in the Indenture. To the extent the provisions
of this Note are inconsistent with the provisions of the Indenture, the Indenture shall govern. The Notes are subject to all such
terms, and Holders are referred to the Indenture for a statement of such terms. The Initial Notes issued on the Issue Date were
initially issued in an aggregate principal amount of $1,000,000,000. The Indenture permits the issuance of Additional Notes subject
to compliance with certain conditions.

 

    	 	A-6	 

     

    

 

The payment of principal
and interest on the Notes and all other amounts under the Indenture is unconditionally guaranteed, jointly and severally, on a
senior unsecured basis by the Guarantors.

 

(5)          Redemption
and Repurchase. The Notes are subject to optional redemption, and may be the subject of Special Mandatory Redemption, an optional
tax redemption, a Net Proceeds Offer and a Change of Control Offer, as further described in the Indenture. Except as provided in
the Indenture, the Issuer shall not be required to make mandatory redemption or sinking fund payments with respect to Notes.

 

(6)          Denominations,
Transfer, Exchange. The Notes are in registered form without coupons in initial minimum denominations of $2,000 and integral
multiples of $1,000 in excess thereof.

 

The transfer of the Notes may be registered
and the Notes may be exchanged as provided in the Indenture. The Registrar, the Trustee and the Issuer may require a Holder, among
other things, to furnish appropriate endorsements and transfer documents, and the Issuer may require a Holder to pay any stamp
or transfer tax or similar government charge required by law or permitted by the Indenture in accordance with Section 2.6(g)(2)
of the Indenture. The Registrar is not required (A) to issue, to register the transfer of or to exchange Notes during a period
beginning at the opening of 15 days before the day of any selection of Notes for redemption and ending at the close of business
on the day of such selection, (B) to register the transfer of or to exchange any Note so selected for redemption in whole or in
part, except the unredeemed portion of any Note being redeemed in part, or (C) to register the transfer of or to exchange a Note
between a record date and the next succeeding Interest Payment Date.

 

(7)          Persons
Deemed Owners. The registered Holder of a Note will be treated as its owner for all purposes.

 

(8)          Amendment,
Supplement and Waiver. The Indenture, the Notes and the Guarantees may be amended or supplemented, and compliance with provisions
thereof may be waived, in each case as provided in the Indenture.

 

(9)          Defaults
and Remedies. The remedies of Holders in the event of a Default are as set forth in the Indenture.

 

(10)        No
Recourse Against Others. No director, officer, employee, incorporator or stockholder, partner or member of the Issuer or any
Guarantor, as such, will have any liability for any indebtedness, obligations or liabilities of the Issuer under the Notes or the
Indenture or of any Guarantor under its Guarantee or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Notes and the Guarantees, to the extent permitted by applicable law.

 

(11)        Authentication.
This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

 

(12)        Abbreviations.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian)
and U/G/M/A (= Uniform Gifts to Minors Act).

 

    	 	A-7	 

     

    

 

(13)        CUSIP
Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer
has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a convenience
to the Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in
any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon.

 

    	 	A-8	 

     

    

 

The Issuer shall furnish
to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:

 

TechnipFMC plc

One St. Paul’s Churchyard

London, EC4M 8AP, United Kingdom

Attention: Alf Melin

 

    	 	A-9	 

     

    

 

ASSIGNMENT FORM

 

To assign this Note, fill in the form below:
(I) or (we) assign and transfer this Note to

 

	
         

        (Insert assignee’s soc. sec. or tax I.D.
        no.)

	 

                                                                                 

	 

                                                                                 

	
        (Print or type assignee’s name, address
        and zip code)

         

	and irrevocably appoint
	 

                                                                                to transfer this Note on the books of the Issuer. The agent may substitute another to act for him.

	
         

        Date: _____________

	
         

        Your Signature:
	 
	 	
        (Sign exactly as your name

        appears on the face of this Note)

	 	 
	Signature guarantee:	 

 

    	 	A-10	 

     

    

 

OPTION OF HOLDER TO ELECT PURCHASE

 

If you want to elect to
have this Note purchased by the Issuer pursuant to Section 4.10 or Section 4.13 of the Indenture, check the box below:

 

[ ] Section 4.10                  [
] Section 4.13

 

If you want to elect to
have only part of the Note purchased by the Issuer pursuant to Section 4.10 or Section 4.13 of the Indenture, state
the amount you elect to have purchased: $_________________

 

	Date:  _____________
	
         

        Your Signature:
	 
	 	
        (Sign exactly as your name

        appears on the face of this Note)

	 	 
	Tax Identification No.:	 
	 	 
	Signature guarantee:	 

 

    	 	A-11	 

     

    

 

[INCLUDE IN TRANSFER RESTRICTED NOTES]

 

CERTIFICATE TO BE DELIVERED UPON

EXCHANGE OF TRANSFER RESTRICTED NOTES

 

TechnipFMC plc

One St. Paul’s Churchyard

London, EC4M 8AP, United Kingdom

Attention: Chief Financial Officer

 

U.S. Bank National Association

13737 Noel Road, Suite 800

Dallas, TX 75240

Attention: Global Corporate Trust

 

Re: CUSIP NO.

 

Reference is hereby made
to that certain Indenture dated January 29, 2021 (the “Indenture”) among TechnipFMC, plc (the “Issuer”),
the guarantors named therein, and U.S. Bank National Association, as trustee (the “Trustee”). Capitalized terms
used but not defined herein shall have the meanings set forth in the Indenture.

 

This certificate relates
to $______ principal amount of Notes held in (check applicable space) ____________ book-entry or ____________ definitive form by
the undersigned.

 

The undersigned _____________
(transferor) (check one box below):

 

		 ̈	hereby requests the Registrar to deliver in exchange for its beneficial interest in the Global
Note held by the Depositary a Note or Notes in definitive, registered form of authorized denominations and an aggregate principal
amount equal to its beneficial interest in such Global Note (or the portion thereof indicated above), in accordance with Section
2.6 of the Indenture;

 

		 ̈	hereby requests the Trustee to exchange a Note or Notes to ________________________ (transferee).

 

In connection with any
transfer of any of the Notes evidenced by this certificate occurring prior to the expiration of the periods referred to in Rule
144(d) under the Securities Act of 1933, as amended, the undersigned confirms that such Notes are being transferred in accordance
with its terms:

 

    	 	A-12	 

     

    

 

CHECK ONE BOX BELOW:

 

(1)   ̈  to
the Issuer or any of its subsidiaries; or

 

(2)   ̈  pursuant
to a registration statement that has been declared effective under the Securities Act of 1933, as amended; or

 

(3)   ̈  to
a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933, as amended) that purchases
for its own account or for the account of a qualified institutional buyer to whom notice is given that such transfer is being made
in reliance on Rule 144A under the Securities Act of 1933, as amended, in each case pursuant to and in compliance with Rule 144A
thereunder; or

 

(4)   ̈  outside
the United States in an offshore transaction within the meaning of Regulation S under the Securities Act of 1933, as amended, in
compliance with Rule 904 thereunder; or

 

(5)   ̈  to
an institutional “accredited investor” within the meaning of Rule 501(a) of the Securities Act of 1933, as amended,
that is not a qualified institutional buyer and that is purchasing for its own account or for the account of another institutional
accredited investor; or

 

(6)   ̈  pursuant
to another available exemption from the registration requirements of the Securities Act of 1933, as amended.

 

Unless one of the boxes
is checked, the Registrar will refuse to register any of the Notes evidenced by this certificate in the name of any person other
than the registered Holder thereof.

 

	 	 
	 	Signature
	 	 

 

	Signature Guarantee:  	 
	 	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

 

TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS
CHECKED.

 

The undersigned represents
and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises sole investment
discretion and that each of it and any such account is a “qualified institutional buyer” within the meaning of Rule
144A under the Securities Act of 1933, as amended (“Rule 144A”), and is aware that the sale to it is being made
in reliance on Rule 144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested
pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon
the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A.

 

	 	[NAME OF TRANSFEREE]
	 	 
	 	 
	 	NOTICE: To be executed by an executive officer, if an entity
	 	 
	Dated:  _________________________	 

 

    	 	A-13	 

     

    

 

[INCLUDE IN NOTES BEARING THE REGULATION S LEGEND]

 

CERTIFICATE TO BE DELIVERED UPON

EXCHANGE OF NOTES BEARING THE REGULATION S LEGEND

 

TechnipFMC plc

One St. Paul’s Churchyard

London, EC4M 8AP, United Kingdom

Attention: Chief Financial Officer

 

U.S. Bank National Association

13737 Noel Road, Suite 800

Dallas, TX 75240

Attention: Global Corporate
Trust

 

Re: CUSIP NO.

 

Reference is hereby made
to that certain Indenture dated January 29, 2021 (the “Indenture”) among TechnipFMC plc (the “Issuer”),
the guarantors named therein, and U.S. Bank National Association, as trustee (the “Trustee”). Capitalized terms
used but not defined herein shall have the meanings set forth in the Indenture.

 

This certificate relates
to $__________ principal amount of Notes held in (check applicable space) ___________ book-entry or _____________ definitive form
by the undersigned.

 

The undersigned _____________
(transferor) (check one box below):

 

		 ̈	hereby requests the Registrar to deliver in exchange for its beneficial interest in the Global
Note held by the Depositary a Note or Notes in definitive, registered form of authorized denominations and an aggregate principal
amount equal to its beneficial interest in such Global Note (or the portion thereof indicated above), in accordance with Section
2.6 of the Indenture;

 

		 ̈	hereby requests the Trustee to exchange a Note or Notes to ___________ (transferee).

 

In connection with any
transfer of any of the Notes evidenced by this certificate occurring prior to the expiration of the Restricted Period (as defined
in the Indenture), the undersigned confirms that such Notes are being transferred in accordance with its terms:

 

    	 	A-14	 

     

    

 

CHECK ONE BOX BELOW:

 

(1)   ̈  to
the Issuer or any of its subsidiaries; or

 

(2)   ̈  pursuant
to a registration statement that has been declared effective under the Securities Act of 1933, as amended; or

 

(3)   ̈  to
a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933, as amended) that purchases
for its own account or for the account of a qualified institutional buyer to whom notice is given that such transfer is being made
in reliance on Rule 144A under the Securities Act of 1933, as amended, in each case pursuant to and in compliance with Rule 144A
thereunder; or

 

(4)   ̈  outside
the United States in an offshore transaction within the meaning of Regulation S under the Securities Act of 1933, as amended, in
compliance with Rule 904 thereunder; or

 

(5)   ̈  to
an institutional “accredited investor” within the meaning of Rule 501(a) of the Securities Act of 1933, as amended,
that is not a qualified institutional buyer and that is purchasing for its own account or for the account of another institutional
accredited investor; or

 

(6)   ̈  pursuant
to another available exemption from the registration requirements of the Securities Act of 1933, as amended.

 

Prior to the expiration
of the Restricted Period, unless one of the boxes is checked, the Registrar will refuse to register any of the Notes evidenced
by this certificate in the name of any person other than the registered Holder thereof.

 

	 	 
	 	Signature
	 	 

 

	Signature Guarantee:  	 
	 	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

 

TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS
CHECKED.

 

The undersigned represents
and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises sole investment
discretion and that each of it and any such account is a “qualified institutional buyer” within the meaning of Rule
144A under the Securities Act of 1933, as amended (“Rule 144A”), and is aware that the sale to it is being made
in reliance on Rule 144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested
pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon
the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A.

 

	 	[NAME OF TRANSFEREE]
	 	 
	 	 
	 	NOTICE: To be executed by an executive officer, if an entity
	 	 
	Dated:  _________________________	 

 

    	 	A-15	 

     

    

 

SCHEDULE OF INCREASES AND DECREASES OF
6.500% SENIOR NOTES DUE 2026

 

The initial outstanding principal amount of
this Global Note is $___________. The following transfers, exchanges and redemption of this Global Note have been made:

 

	Date of Transfer,

Exchange or

Redemption	Amount of Decrease in

Principal Amount of this

Global Note	Amount of Increase in

Principal Amount of this

Global Note	Principal Amount of this

Global Note Following Such

Decrease (or Increase)	Signature of Trustee or

Note Custodian
	 	 	 	 	 
	 	 	 	 	 

 

    	 	A-16	 

     

    

 

EXHIBIT B

 

[FORM OF SUPPLEMENTAL INDENTURE TO BE DELIVERED

BY SUBSEQUENT GUARANTORS]

 

This Supplemental Indenture
and Guarantee, dated as of [●], 2021 (this “Supplemental Indenture” or “Guarantee”),
among [●] (the “New Guarantor”) and U.S. Bank National Association, as Trustee, paying agent and registrar
under such Indenture.

 

WITNESSETH:

 

WHEREAS, the Issuer, the
existing Guarantors and the Trustee have heretofore executed and delivered an Indenture, dated as of January 29, 2021 (as amended,
supplemented, waived or otherwise modified, the “Indenture”), providing for the issuance of an unlimited aggregate
principal amount 6.500% Senior Notes due 2026 of the Issuer (the “Notes”);

 

WHEREAS, Section 4.15
of the Indenture provides that the Issuer will cause any Restricted Subsidiary of the Issuer that is not an existing Guarantor
that guarantees certain Indebtedness as described therein, to execute and deliver a Guarantee with respect to the Notes on the
same terms and conditions as those set forth in the Indenture.

 

WHEREAS, pursuant to Section
9.1 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture to amend the Indenture,
without the consent of any Holder to add an additional Guarantor.

 

NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the New Guarantor
and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows:

 

ARTICLE I

Definitions

 

SECTION 1.1        Defined
Terms. As used in this Supplemental Indenture, capitalized terms defined in the Indenture or in the preamble or recitals thereto
are used herein as therein defined. The words “herein,” “hereof” and “hereby” and other words
of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular
section hereof.

 

ARTICLE II

Agreement to be Bound; Guarantee

 

SECTION 2.1        Agreement
to be Bound. The New Guarantor hereby becomes a party to the Indenture as a Guarantor and as such shall have all of the rights
and be subject to all of the obligations and agreements of a Guarantor under the Indenture, including Article X thereof.

 

ARTICLE III

Miscellaneous

 

SECTION 3.1         Governing
Law. This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York.

 

    	 	B-1	 

     

    

 

SECTION 3.2         Severability
Clause. In case any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be
ineffective only to the extent of such invalidity, illegality or unenforceability.

 

SECTION 3.3        Ratification
of Indenture; Supplemental Indentures Part of Indenture; No Liability of Trustee. Except as expressly amended hereby, the Indenture
is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.
This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of a Note heretofore or hereafter
authenticated and delivered shall be bound hereby. The Trustee makes no representation or warranty as to the validity or sufficiency
of this Supplemental Indenture or the New Guarantor’s Guarantee. Additionally, the Trustee shall not be responsible in any
manner whatsoever for or with respect to any of the recitals or statements contained herein, all of which recitals or statements
are made solely by the New Guarantor and the Trustee makes no representation with respect to any such matters.

 

SECTION 3.4         Counterparts.
This Supplemental Indenture may be executed in two or more counterparts, which when so executed shall constitute one and the same
agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall
constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of
the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be
their original signatures for all purposes. The words “execution,” “signed,” “signature,” “delivery,”
and words of like import in or relating to this Agreement or any document to be signed in connection with this Agreement shall
be deemed to include electronic signatures, deliveries 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, and the parties hereto consent to conduct the transactions contemplated hereunder by
electronic means.

 

SECTION 3.5         Headings.
The headings of the Articles and the sections in this Guarantee are for convenience of reference only and shall not be deemed to
alter or affect the meaning or interpretation of any provisions hereof.

 

[Signatures on following page]

 

    	 	B-2	 

     

    

 

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

 

	 	[NEW GUARANTOR], as a Guarantor
	 	 	 
	 	By:	              
	 	Name:	 
	 	Title:	 
	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	B-3	 

     

    

 

EXHIBIT C

 

[FORM OF CERTIFICATE TO BE DELIVERED

IN CONNECTION WITH TRANSFERS PURSUANT TO RULE
144A]

 

TechnipFMC plc

One St. Paul’s Churchyard

London, EC4M 8AP, United Kingdom

Attention: Chief Financial Officer

 

U.S. Bank National Association

13737 Noel Road, Suite 800

Dallas, TX 75240

Attention: Global Corporate
Trust

 

Re: TechnipFMC plc (the
“Issuer”) 6.500% Senior Notes due 2026 (the “Notes”)

 

Ladies and Gentlemen:

 

In connection with our
proposed sale of $[●] aggregate principal amount at maturity of the Notes (CUSIP No. [⦁]),
we hereby certify that such transfer is being effected pursuant to and in accordance with Rule 144A (“Rule 144A”)
under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, we hereby further
certify that the Notes are being transferred to a person that we reasonably believe is purchasing the Notes for its own account,
or for one or more accounts with respect to which such person exercises sole investment discretion, and such person and each such
account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements
of Rule 144A, and such Notes are being transferred in compliance with any applicable blue sky securities laws of any state of the
United States.

 

The Issuer and you are
entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party
in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby.

 

	 	Very truly yours,
	 	 
	 	[NAME OF TRANSFEROR]
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	Authorized Signature

 

    	 	C-1	 

     

    

 

EXHIBIT D

 

[FORM OF CERTIFICATE TO BE DELIVERED

IN CONNECTION WITH TRANSFERS PURSUANT TO REGULATION
S]

 

TechnipFMC plc

One St. Paul’s Churchyard

London, EC4M 8AP, United Kingdom

Attention: Chief Financial Officer

 

U.S. Bank National Association

13737 Noel Road, Suite 800

Dallas, TX 75240

Attention: Global Corporate
Trust

 

Re: TechnipFMC plc (the “Issuer”)
6.500% Senior Notes due 2026 (the “Notes”)

Ladies and Gentlemen:

 

In connection with our proposed sale of $[●]
aggregate principal amount of the Notes (CUSIP No. [●]), we confirm that such sale has been effected pursuant to and in accordance
with Regulation S (“Regulation S”) under the U.S. Securities Act of 1933, as amended (the “Securities
Act”), and, accordingly, we represent that:

 

(1)          the
offer of the Notes was not made to a person in the United States;

 

(2)          either
(a) at the time the buy order was originated, the transferee was outside the United States or we and any person acting on our behalf
reasonably believed that the transferee was outside the United States or (b) the transaction was executed in, on or through the
facilities of a designated off-shore securities market and neither we nor any person acting on our behalf knows that the transaction
has been pre-arranged with a buyer in the United States;

 

(3)          no
directed selling efforts have been made in the United States in contravention of the requirements of Rule 903(b) or Rule 904(b)
of Regulation S, as applicable; and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

In addition, if the sale
is made during a restricted period and the provisions of Rule 903(b) or Rule 904(b) of Regulation S are applicable thereto, we
confirm that such sale has been made in accordance with the applicable provisions of Rule 903(b) or Rule 904(b), as the case may
be.

 

    	 	D-1	 

     

    

 

The Issuer and you are
entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party
in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this certificate
have the meanings set forth in Regulation S.

 

	 	Very truly yours,
	 	 
	 	[NAME OF TRANSFEROR]
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	Authorized Signature

 

    	 	D-2	 

     

    

 

EXHIBIT E

 

[FORM OF CERTIFICATE TO BE DELIVERED

IN CONNECTION WITH TRANSFERS TO AN IAI]

 

TechnipFMC plc

One St. Paul’s Churchyard

London, EC4M 8AP, United Kingdom

Attention: Chief Financial Officer

 

U.S. Bank National Association

13737 Noel Road, Suite 800

Dallas, TX 75240

Attention: Global Corporate
Trust

 

Re: TechnipFMC plc (the
“Issuer”) 6.500% Senior Notes due 2026 (the “Notes”)

 

Ladies and Gentlemen:

 

In connection with our
proposed sale of $[●] aggregate principal amount at maturity of the Notes (CUSIP No. [●]), we hereby certify that such
transfer is being effected to an institutional “accredited investor” within the meaning of Rule 501(a) of the Securities
Act of 1933 that is not a qualified institutional buyer and that is purchasing for its own account or for the account of another
institutional accredited investor.

 

The Issuer and you are
entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party
in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby.

 

	 	Very truly yours,
	 	 
	 	[NAME OF TRANSFEROR]
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	Authorized Signature

 

    	 	E-1

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