Document:

Exhibit 10.1

 

Execution Version

 

 

 

$2,750,000,000

 

CREDIT AGREEMENT

 

among

 

BOSTON SCIENTIFIC CORPORATION,

as Borrower,

 

The Several Lenders

from Time to Time Parties Hereto,

 

BANK OF AMERICA, N.A.,

BARCLAYS BANK PLC,

CITIBANK, N.A.,

JPMORGAN CHASE BANK, N.A.,

and

SOCIÉTÉ GÉNÉRALE,

as Documentation Agents,

and

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent

 

Dated as of May 10, 2021

 

 

WELLS FARGO SECURITIES, LLC,

as Joint Lead Arranger and Bookrunner,

 

 

BofA SECURITIES, INC.,

BARCLAYS BANK PLC,

CITIBANK, N.A.,

JPMORGAN CHASE BANK, N.A.,

and

SOCIÉTÉ GÉNÉRALE

as Joint Lead Arrangers

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

Page

 

	SECTION 1 DEFINITIONS	1
	1.1.	Defined Terms	1
	1.2.	Other Definitional Provisions	30
	 	 	 
	SECTION 2 AMOUNT AND TERMS OF COMMITMENTS	30
	2.1.	Revolving Credit Commitments	30
	2.2.	Procedure for Revolving Credit Borrowing	31
	2.3.	Reserved	31
	2.4.	Reserved	31
	2.5.	Fees	31
	2.6.	Termination or Reduction of Revolving Credit Commitments	32
	2.7.	Repayment of Loans	32
	2.8.	CAF Advances	32
	2.9.	Procedure for CAF Advance Borrowing	32
	2.10.	Repayment of CAF Advances	35
	2.11.	Certain Restrictions with Respect to CAF Advances	35
	2.12.	Multicurrency Commitments	35
	2.13.	Repayment of Multicurrency Loans	36
	2.14.	Procedure for Multicurrency Borrowing	36
	2.15.	Termination or Reduction of Multicurrency Commitments	36
	2.16.	Borrowings of Revolving Credit Loans and Refunding of Loans	37
	2.17.	Increase of Revolving Credit Commitments	38
	2.18.	Cash Collateral	39
	2.19.	Defaulting Lenders	40
	2.20.	Extension of Termination Date	42
	 	 	 
	SECTION 3 CERTAIN PROVISIONS APPLICABLE TO THE LOANS	43
	3.1.	Optional and Mandatory Prepayments	43
	3.2.	Conversion and Continuation Options	44
	3.3.	Minimum Amounts and Maximum Number of Tranches	45
	3.4.	Interest Rates and Payment Dates	45
	3.5.	Computation of Interest and Fees	46
	3.6.	Changed Circumstances	46
	3.7.	Pro Rata Treatment and Payments	48
	3.8.	Illegality	50
	3.9.	Requirements of Law	50
	3.10.	Taxes	51
	3.11.	Indemnity	54
	3.12.	Change of Lending Office; Removal of Lender	55

 

    	 	- i -	 

     

    

 

TABLE OF CONTENTS

(continued)

 

Page

 

	3.13.	Evidence of Debt	55
	 	 	 
	SECTION 4 LOCAL CURRENCY FACILITIES	56
	4.1.	Terms of Local Currency Facilities	56
	4.2.	Reporting of Local Currency Outstandings	58
	 	 	 
	SECTION 5 LETTERS OF CREDIT	58
	5.1.	L/C Commitment	58
	5.2.	Procedure for Issuance of Letter of Credit	59
	5.3.	Fees and Other Charges	59
	5.4.	L/C Participations	60
	5.5.	Reimbursement Obligation of the Borrower	61
	5.6.	Obligations Absolute	61
	5.7.	Letter of Credit Payments	61
	5.8.	Applications	62
	5.9.	Reimbursement Obligations for Certain Letters of Credit Denominated in Currencies Other Than Dollars	62
	5.10.	Replacement of Issuing Lenders	62
	 	 	 
	SECTION 6 REPRESENTATIONS AND WARRANTIES	62
	6.1.	Financial Condition	62
	6.2.	Corporate Existence; Compliance with Law	63
	6.3.	Corporate Power; Consents and Authorization; Enforceable Obligations	63
	6.4.	No Legal Bar	64
	6.5.	No Default	64
	6.6.	Taxes	64
	6.7.	Federal Regulations	64
	6.8.	ERISA	64
	6.9.	Investment Company Act; Other Regulations	64
	6.10.	Purpose of Loans	65
	6.11.	Environmental Matters	65
	6.12.	Disclosure	65
	6.13.	No Change	66
	6.14.	No Material Litigation	66
	6.15.	Anti-Corruption Laws and Sanctions	66
	 	 	 
	SECTION 7 CONDITIONS PRECEDENT	66
	7.1.	Conditions to Closing	66
	7.2.	Conditions to Each Loan and Letter of Credit	67
	 	 	 
	SECTION 8 AFFIRMATIVE COVENANTS	68
	8.1.	Financial Statements	68

 

    	 	- ii -	 

     

    

 

TABLE OF CONTENTS

(continued)

 

Page

 

	8.2.	Certificates; Other Information	69
	8.3.	Payment of Obligations	69
	8.4.	Conduct of Business and Maintenance of Existence	70
	8.5.	Maintenance of Property; Insurance	70
	8.6.	Inspection of Property; Books and Records; Discussions	70
	8.7.	Notices	70
	 	 	 
	SECTION 9 NEGATIVE COVENANTS	71
	9.1.	Financial Covenant	71
	9.2.	Limitation on Liens	71
	9.3.	Limitation on Indebtedness pursuant to Receivables Transactions	72
	9.4.	Limitation on Fundamental Changes	72
	9.5.	Limitation on Indebtedness of Subsidiaries	73
	 	 	 
	SECTION 10 EVENTS OF DEFAULT	73
	 	 	 
	SECTION 11 THE AGENTS	75
	11.1.	Appointment	75
	11.2.	Delegation of Duties	75
	11.3.	Exculpatory Provisions	76
	11.4.	Reliance by Administrative Agent	76
	11.5.	Notice of Default	76
	11.6.	Non-Reliance on Administrative Agent and Other Lenders	77
	11.7.	Indemnification	77
	11.8.	Administrative Agent in Its Individual Capacity	77
	11.9.	Successor Administrative Agent	78
	11.10.	The Arrangers, the Bookrunner and the Documentation Agents	78
	11.11.	Certain ERISA Matters	78
	11.12.	Accidental Payments	79
	 	 	 
	SECTION 12 GUARANTEE	81
	12.1.	Guarantee	81
	12.2.	No Subrogation	81
	12.3.	Amendments, etc. with respect to the Obligations; Waiver of Rights	82
	12.4.	Guarantee Absolute and Unconditional	83
	12.5.	Reinstatement	83
	12.6.	Payments	83
	12.7.	“Lenders”	83
	 	 	 
	SECTION 13 MISCELLANEOUS	84
	13.1.	Amendments and Waivers	84
	13.2.	Notices	85

 

    	 	- iii -	 

     

    

 

TABLE OF CONTENTS

(continued)

 

Page

 

	13.3.	No Waiver; Cumulative Remedies	87
	13.4.	Survival of Representations and Warranties	88
	13.5.	Payment of Expenses and Taxes	88
	13.6.	Successors and Assigns; Participations and Assignments	89
	13.7.	Adjustments; Set-off	91
	13.8.	Counterparts	92
	13.9.	Severability	92
	13.10.	Integration	92
	13.11.	GOVERNING LAW	92
	13.12.	Submission To Jurisdiction and Waivers	93
	13.13.	Acknowledgements	93
	13.14.	Confidentiality	93
	13.15.	Loan Conversion/Participations	94
	13.16.	Judgment	95
	13.17.	WAIVERS OF JURY TRIAL	95
	13.18.	USA Patriot Act Notice	96
	13.19.	No Advisory or Fiduciary Responsibility	96
	13.20.	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	96
	13.21.	Acknowledgement Regarding Any Supported QFCs	97

 

SCHEDULES

 

	Schedule I	Names and Commitments of Lenders
	Schedule II	Information Concerning Local Currency Loans
	Schedule 9.2	Existing Liens
	Schedule 9.5	Existing Subsidiary Indebtedness

 

EXHIBITS

 

	Exhibit A	Form of Revolving Credit Note
	Exhibit B	Form of CAF Advance Note
	Exhibit C	Form of CAF Advance Request
	Exhibit D	Form of CAF Advance Offer
	Exhibit E	Form of CAF Advance Confirmation
	Exhibit F	Form of Closing Certificate
	Exhibit G	Form of Opinion of Counsel to Borrower
	Exhibit H	Form of Assignment and Assumption
	Exhibit I	Form of Local Currency Facility Addendum
	Exhibit J-1 – J-4	U.S. Tax Compliance Certificate
	Exhibit K	[Reserved]
	Exhibit L	Form of Multicurrency Note

 

    	 	- iv -	 

     

    

 

CREDIT
AGREEMENT, dated as of May 10, 2021, among (i) BOSTON SCIENTIFIC CORPORATION, a Delaware corporation (the
 “Borrower”), (ii) the several banks and other financial institutions or entities from time to time parties hereto
(the “Lenders”), (iii) Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., JPMorgan Chase Bank, N.A. and
Société Générale, as Documentation Agents (each, in such capacity, a “Documentation Agent”,
and collectively, the “Documentation Agents”) and (iv) WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative
agent for the Lenders hereunder (in such capacity, the “Administrative Agent”).

 

W I T N E S S E T H:

 

WHEREAS,
the Borrower has requested that the Lenders make Revolving Credit Loans (as defined below), CAF Advances (as defined below), Multicurrency
Loans (as defined below) and Local Currency Loans (as defined below) to the Borrower on the terms and conditions set forth herein;

 

WHEREAS,
the Lenders have agreed to make the credit facilities available upon the terms and subject to the conditions set forth herein; and

 

WHEREAS,
the new credit facilities will be used to refinance the existing credit facilities under the Credit Agreement, dated as of December 19,
2018, among the Borrower, the lenders and the administrative agent party thereto (the “Existing Credit Facilities);

 

NOW,
THEREFORE, in consideration of the premises, and of the mutual covenants and agreements herein contained and other good and
valuable consideration, receipt of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

SECTION 1

 

DEFINITIONS

 

1.1.          Defined
Terms.

 

As used in this Agreement, the following terms
shall have the following meanings:

 

“ABR”: for any day, a rate per
annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus
1/2 of 1% per annum and (c) the Eurocurrency Base Rate for a one month Interest Period on such day (or if such day is not a Business
Day, the immediately preceding Business Day) plus 1% per annum. For purposes hereof: “Prime Rate” shall mean
the rate of interest per annum publicly announced from time to time by the Administrative Agent as its prime rate in effect (the Prime
Rate not being intended to be the lowest rate of interest charged by the Administrative Agent in connection with extensions of credit
to debtors); and “NYFRB Rate” shall mean, for any day, the greater of (a) the Federal Funds Effective Rate in
effect on such day and (b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for
the immediately preceding Business Day); provided that if none of such rates are published for any day that is a Business Day, the term
 “NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 A.M. on such day received by the Administrative
Agent from a Federal funds broker of recognized standing selected by it (it being agreed the Prime Rate and NYFRB Rate will not be less
than zero). Any change in the ABR due to a change in the Prime Rate, the NYFRB Rate or the Eurocurrency Base Rate shall be effective as
of the opening of business on the effective day of such change in the Prime Rate, the NYFRB Rate or the Eurocurrency Base Rate, respectively.

 

“ABR Loans”: Revolving Credit
Loans bearing interest based upon the ABR.

 

    	 	- 1 -	 

     

    

 

“Accrued Legal Liabilities”:
any cash litigation costs, including judgments, orders, awards, settlements and related legal costs, that are accrued prior to, and unpaid
as of, March 31, 2021.

 

“Additional Lender”: as defined
in subsection 2.20(c).

 

“Additional Revolving Credit Commitment”:
as defined in subsection 2.17.

 

“Adjusted Aggregate Committed Outstandings”:
with respect to each Lender, the Aggregate Committed Outstandings of such Lender, plus the amount of any participating interests
purchased by such Lender pursuant to subsection 13.15, minus the amount of any participating interests sold by such Lender
pursuant to subsection 13.15.

 

“Administrative Agent”: as defined
in the preamble hereto.

 

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

 

“Affiliate”: as to any Person,
any other Person (other than a Subsidiary) which, directly or indirectly, is in control of, is controlled by, or is under common control
with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, either
to (a) vote 10% or more of the securities having ordinary voting power for the election of directors of such Person or (b) direct
or cause the direction of the management and policies of such Person, whether by contract or otherwise.

 

“Agency Fee Letter”: the agency
fee letter, dated April 14, 2021, between Wells Fargo and the Borrower.

 

“Agent Parties”: as defined
in subsection 13.2(c).

 

“Agents”: the collective reference
to the Administrative Agent, the Documentation Agents, the Arrangers and the Bookrunner.

 

“Aggregate Exposure Percentage”:
as defined in the definition of “Majority Lenders.”

 

“Aggregate Available Multicurrency Commitments”:
as at any date of determination with respect to all Multicurrency Lenders, an amount in Dollars equal to the sum of the Available Multicurrency
Commitments of all Multicurrency Lenders on such date.

 

“Aggregate Available Revolving Credit
Commitments”: as at any date of determination with respect to all Lenders, an amount in Dollars equal to the sum of the Available
Revolving Credit Commitments of all Lenders on such date.

 

“Aggregate Committed Outstandings”:
as at any date of determination with respect to any Lender, an amount in Dollars equal to the sum of (a) the Aggregate Revolving
Credit Outstandings of such Lender on such date, (b) the Dollar Equivalent of the Aggregate Multicurrency Outstandings of such Lender
on such date, and (c) the Dollar Equivalent of the Aggregate Local Currency Outstandings of such Lender on such date.

 

“Aggregate Local Currency Outstandings”:
as at any date of determination with respect to any Lender, an amount in the applicable Local Currencies equal to the aggregate unpaid
principal amount of such Lender’s Local Currency Loans.

 

    	 	- 2 -	 

     

    

 

“Aggregate Multicurrency Outstandings”:
as at any date of determination with respect to any Lender, an amount in the applicable Available Foreign Currencies equal to the aggregate
unpaid principal amount of such Lender’s Multicurrency Loans.

 

“Aggregate Revolving Credit Commitments”:
the aggregate amount of the Revolving Credit Commitments of all of the Lenders.

 

“Aggregate Revolving Credit Outstandings”:
as at any date of determination with respect to any Lender, an amount in Dollars equal to the sum of (a) the aggregate unpaid principal
amount of such Lender’s Revolving Credit Loans on such date plus (b) such Lender’s Revolving Credit Commitment
Percentage of the L/C Obligations.

 

“Aggregate Total Outstandings”:
as at any date of determination with respect to any Lender, an amount in Dollars equal to the sum of (a) the Aggregate Revolving
Credit Outstandings of such Lender on such date, (b) the Dollar Equivalent of the aggregate unpaid principal amount of such Lender’s
CAF Advances on such date, (c) the Dollar Equivalent of the Aggregate Multicurrency Outstandings of such Lender on such date and
(d) the Dollar Equivalent of the Aggregate Local Currency Outstandings of such Lender on such date.

 

“Agreement”: this Credit Agreement,
as amended, amended and restated, supplemented or otherwise modified from time to time.

 

“Agreement Currency”: as defined
in subsection 13.16(b).

 

“Anti-Corruption Laws”: the
United States Foreign Corrupt Practices Act of 1977, as amended, and all similar laws, rules, and regulations of any jurisdiction applicable
to the Borrower or its Subsidiaries prohibiting bribery or corruption.

 

“Applicable Margin”: with respect
to each day for each Type of Loan, the rate per annum based on the Ratings in effect on such day, as set forth under the relevant column
heading below:

 

	Rating	 	Eurodollar Loans/
 Multicurrency Loans	 	 	ABR Loans	 
	Rating I	 	 	0.795	%	 	 	0.0	%
	Rating II	 	 	0.910	%	 	 	0.0	%
	Rating III	 	 	1.015	%	 	 	0.015	%
	Rating IV	 	 	1.100	%	 	 	0.100	%
	Rating V	 	 	1.400	%	 	 	0.400	%

 

“Applicable Screen Rate”: as
defined in the definition of “Impacted Interest Period”.

 

“Application”: an application,
in such form as the Issuing Lender may specify from time to time, requesting the Issuing Lender to issue a Letter of Credit.

 

“Arrangers”: Wells Fargo Securities,
LLC, BofA Securities, Inc. (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially
all of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending services or related
businesses may be transferred following the date of this Agreement), Barclays Bank PLC, Citibank, N.A., JPMorgan Chase Bank, N.A. and
Société Générale as Joint Lead Arrangers for this Agreement.

 

    	 	- 3 -	 

     

    

 

“Assignee”: as defined in subsection
13.6(c).

 

“Australian Dollar”: the lawful
currency of the Commonwealth of Australia.

 

“Available Foreign Currencies”:
(a) Euro, Japanese Yen, Australian Dollar, Canadian Dollar, Singapore Dollar, Swiss Franc, (b) Pound Sterling; provided that
Pound Sterling shall only be available hereunder upon an amendment to this Agreement that amends the initial rate applicable to Loans
denominated in Pound Sterling as set forth in “Eurocurrency Base Rate” to a rate that is not the rate appearing on the Reuters
Screen LIBOR01 Page and (c) any other available and freely convertible non-Dollar currency selected by the Borrower and approved
by the Administrative Agent and the Multicurrency Lenders.

 

“Available Foreign Currency Equivalent”:
for any amount of any Available Foreign Currency, at the time of determination thereof, (a) if such amount is expressed in such Available
Foreign Currency, such amount and (b) if such amount is expressed in Dollars, the equivalent of such amount in such Available Foreign
Currency determined by using the rate of exchange for the purchase of such Available Foreign Currency with Dollars last provided (either
by publication or otherwise provided to the Administrative Agent) by the applicable Reuters source on the Business Day (New York City
time) immediately preceding the date of determination or if such service ceases to be available or ceases to provide a rate of exchange
for the purchase of such Available Foreign Currency with Dollars, as provided by such other publicly available information service which
provides that rate of exchange at such time in place of Reuters chosen by the Administrative Agent in its sole discretion (or if such
service ceases to be available or ceases to provide such rate of exchange, the equivalent of such amount in Dollars as determined by the
Administrative Agent using any method of determination it deems appropriate in its sole discretion).

 

“Available Multicurrency Commitment”:
as at any date of determination with respect to any Multicurrency Lender (after giving effect to the making and payment of any Revolving
Credit Loans required to be made on such date pursuant to subsection 2.16), an amount in Dollars equal to the lesser of (a) the
excess, if any, of (i) the amount of such Multicurrency Lender’s Multicurrency Commitment in effect on such date over (ii) the
Dollar Equivalent of the Aggregate Multicurrency Outstandings of such Multicurrency Lender on such date, and (b) the excess, if any,
of (i) the amount of such Lender’s Revolving Credit Commitment in effect on such date over (ii) the Aggregate Committed
Outstandings of such Lender on such date.

 

“Available Revolving Credit Commitment”:
as at any date of determination with respect to any Lender (after giving effect to the making and payment of any Revolving Credit Loans
required to be made on such date pursuant to subsection 2.16), an amount in Dollars equal to the excess, if any, of (a) the
amount of such Lender’s Revolving Credit Commitment in effect on such date over (b) the Aggregate Committed Outstandings of
such Lender on such date.

 

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

 

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

 

    	 	- 4 -	 

     

    

 

“Bank of America”: Bank of America,
N.A.

 

“Bankruptcy Code”: the Bankruptcy
Code in Title 11 of the United States Code, as amended, modified, succeeded or replaced from time to time.

 

“Benchmark”: initially, with
respect to any given currency, the applicable benchmark rate for Eurodollar Loans denominated in such currency; provided, however, that
if a Benchmark Transition Event or an Early Opt-in Election, as applicable, has occurred with respect to such benchmark rate, then “Benchmark”
with respect to such currency shall mean the applicable Benchmark Replacement to the extent that such Benchmark Replacement has become
effective pursuant to Section 3.6.

 

“Benchmark
Replacement”: with respect to any then-current Benchmark, the sum of: (a) the alternate benchmark rate that has
been selected by the Administrative Agent and the Borrower as the replacement for such Benchmark 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 with
respect to such currency or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement
to such Benchmark for syndicated credit facilities denominated in the currency applicable to such Benchmark and (b) the applicable
Benchmark Replacement Adjustment for such Benchmark Replacement; provided, however, that, if any Benchmark Replacement as so determined
would be less than zero, such Benchmark Replacement will be deemed to be zero for purposes of this Agreement.

 

“Benchmark
Replacement Adjustment”: with respect to any replacement of any then-current Benchmark 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 the Administrative Agent and the Borrower giving due consideration
to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for
the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (b) 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 such Benchmark with the applicable Unadjusted Benchmark Replacement for syndicated credit facilities
at such time denominated in the currency applicable to such Benchmark.

 

“Benchmark
Replacement Conforming Changes”: 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 the Administrative Agent decides (in consultation
with the Borrower) may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration
thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides
that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no
market practice for the administration of the Benchmark Replacement exists, in such other manner of administration as the Administrative
Agent decides is reasonably necessary in connection with the administration of this Agreement).

 

    	 	- 5 -	 

     

    

 

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

 

		(1)	in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the
date of the public statement or publication of information referenced therein and (b) the date on which the administrator of such
Benchmark permanently or indefinitely ceases to provide such Benchmark; or

 

		(2)	in the case of clause (3) 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 any then-current Benchmark
with respect to any given currency:

 

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

 

		(2)	a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark, the U.S. Federal
Reserve System, an insolvency official with jurisdiction over the administrator for such Benchmark, a resolution authority with jurisdiction
over the administrator for such Benchmark or a court or an entity with similar insolvency or resolution authority over the administrator
for such Benchmark or any other Relevant Governmental Body, which states that the administrator of such Benchmark has ceased or will cease
to provide such Benchmark permanently or indefinitely; provided that, at the time of such statement or publication, there is no
successor administrator that will continue to provide such Benchmark; or

 

		(3)	a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark announcing that
such Benchmark 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 the Administrative Agent or the Majority Lenders, as applicable,
by notice to the Borrower, the Administrative Agent (in the case of such notice by the Majority Lenders) and the Lenders.

 

“Benchmark
Unavailability Period”: with respect to any then-current Benchmark, if a Benchmark Transition Event and its related Benchmark
Replacement Date have occurred with respect to such Benchmark and solely to the extent that such Benchmark 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 Benchmark Replacement has replaced such Benchmark for all purposes hereunder in accordance with Section 3.6(b) and (y) ending
at the time that a Benchmark Replacement has replaced such Benchmark for all purposes hereunder in accordance with Section 3.6(b).

 

    	 	- 6 -	 

     

    

 

“BBSY”: with respect to Australian
Dollars for any Interest Period (i) the rate of interest per annum equal to the per annum rate of interest which appears as “BID”
on the page designated as “BBSY” on the Reuters Monitor System (or such other comparable page as may, in the reasonable
opinion of the Administrative Agent and in consultation with the Borrower, replace such BBSY page on such system for the purpose
of displaying the bank bill swap rates) with maturities comparable to such Interest Period at approximately 10:30 am (Sydney, Australia
time) on the first day of such Interest Period or (ii) if such rate is not available at such time for any reason, the rate per annum
determined by the Administrative Agent as the average of the buying rates quoted to the Administrative Agent at or around 10:30 am (Sydney,
Australia time) on the first day of such Interest Period for bills of exchange accepted by leading Australian banks which have a tenor
equal to such Interest Period. If any Interest Period is an Impacted Interest Period, then BBSY shall be the Interpolated Rate for such
Interest Period. BBSY shall not be less than zero.

 

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

 

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

 

“benefited Lender”: as defined
in subsection 13.7(a).

 

“Board”: the Board of Governors
of the Federal Reserve System.

 

“Bookrunner”: Wells Fargo Securities,
LLC as the sole Bookrunner for this Agreement.

 

“Borrower”: as defined in the
preamble hereto.

 

“Borrower Materials”: as defined
in subsection 8.2.

 

“Borrowing Date”: any Business
Day specified in a notice pursuant to subsection 2.2, 2.9 or 2.14 as a date on which the Borrower requests the Lenders
to make Loans hereunder or, with respect to Local Currency Loans, the date on which a Foreign Subsidiary Borrower requests Local Currency
Lenders to make Local Currency Loans to such Foreign Subsidiary Borrower pursuant to the Local Currency Facility to which such Foreign
Subsidiary Borrower and Local Currency Lenders are parties.

 

“Business”: as defined in subsection
6.11(b).

 

“Business Day”: a day other
than a Saturday, Sunday or other day on which commercial banks in New York are authorized or required by law to close; provided
that when such term is used for the purpose of determining the date on which the Eurocurrency Base Rate is determined under this Agreement
for any Loan denominated in euro for any Interest Period therefor and for purposes of determining the first and last day of any such Interest
Period, references in this Agreement to Business Days shall be deemed to be references to Target Operating Days; provided, further,

 

(a)          if
such day relates to any interest rate settings as to a Eurocurrency Loan denominated in Dollars, any fundings, disbursements, settlements
and payments in Dollars in respect of any such Eurocurrency Loan, or any other dealings in Dollars to be carried out pursuant to this
Agreement in respect of any such Eurocurrency Loan, means any such day that is also a London Banking Day;

 

    	 	- 7 -	 

     

    

 

(b)          if
such day relates to any interest rate settings as to a Multicurrency Loan or CAF Advance denominated in a currency other than Dollars
or euro, means any such day on which dealings in deposits in the relevant currency are conducted by and between banks in the London or
other applicable offshore interbank market for such currency; and

 

(c)          if
such day relates to any fundings, disbursements, settlements and payments in a currency other than Dollars or euro in respect of a Multicurrency
Loan or a CAF Advance denominated in a currency other than Dollars or euro, or any other dealings in any currency other than Dollars or
euro to be carried out pursuant to this Agreement in respect of any such Multicurrency Loan or CAF Advance (other than any interest rate
settings), means any such day on which banks are open for foreign exchange business in the principal financial center of the country of
such currency.

 

“CAF Advance”: each competitive
advance facility advance made pursuant to subsection 2.8.

 

“CAF Advance Availability Period”:
the period from and including the Closing Date to and including the date which is seven days prior to the Termination Date.

 

“CAF Advance Confirmation”:
each confirmation by the Borrower of its acceptance of CAF Advance Offers, which confirmation shall be substantially in the form of Exhibit E
and shall be delivered to the Administrative Agent by facsimile transmission.

 

“CAF Advance Interest Payment Date”:
as to each CAF Advance, each interest payment date specified by the Borrower for such CAF Advance in the related CAF Advance Request.

 

“CAF Advance Maturity Date”:
as to any CAF Advance, the date specified by the Borrower pursuant to subsection 2.9(d)(ii) in its acceptance of the related
CAF Advance Offer.

 

“CAF Advance Note”: as defined
in subsection 3.13(e).

 

“CAF Advance Offer”: each offer
by a Lender to make CAF Advances pursuant to a CAF Advance Request, which offer shall contain the information specified in Exhibit D
and shall be delivered to the Administrative Agent by telephone, immediately confirmed by facsimile transmission.

 

“CAF Advance Request”: each
request by the Borrower for Lenders to submit bids to make CAF Advances, which request shall contain the information in respect of such
requested CAF Advances specified in Exhibit C and shall be delivered to the Administrative Agent in writing, by facsimile
transmission, or by telephone, immediately confirmed by facsimile transmission.

 

“Canadian Dollar”: the lawful
currency of Canada.

 

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

 

“Capital Stock”: any and all
shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent
ownership interests in a Person (other than a corporation) and any and all warrants or options to purchase any of the foregoing.

 

    	 	- 8 -	 

     

    

 

“Cash Collateralize”: to pledge
and deposit with or deliver to the Administrative Agent, for the benefit of the Administrative Agent, an Issuing Lender (as applicable)
and the Lenders, as collateral for L/C Obligations or obligations of Lenders to fund participations in respect thereof (as the context
may require), cash or deposit account balances or, if an Issuing Lender benefiting from such collateral shall agree in its sole discretion,
other credit support, in each case pursuant to documentation in form and substance reasonably satisfactory to (a) the Administrative
Agent and (b) the Issuing Lender (as applicable). “Cash Collateral” shall have a meaning correlative to the foregoing
and shall include the proceeds of such cash collateral and other credit support.

 

“CDOR”:
with respect to Canadian Dollars for any Interest Period, the rate per annum, equal to the average of the annual yield rates applicable
to Canadian banker’s acceptances at or about 10:00 a.m. (Toronto, Canada time) on the first day of such Interest Period on
the “CDOR Page” (or any display substituted therefor) of Reuters Monitor Money Rates Service (or such other page or commercially
available source displaying Canadian interbank bid rates for Canadian Dollar bankers’ acceptances as may be designated by the Administrative
Agent from time to time in consultation with the Borrower) for a term equivalent to such Interest Period (or if such Interest Period is
not equal to a number of months, for a term equivalent to the number of months closest to such Interest Period). If any Interest Period
is an Impacted Interest Period, then CDOR shall be the Interpolated Rate for such Interest Period. CDOR shall not be less than zero.

 

“Closing Date”: May 10,
2021.

 

“Code”: the Internal Revenue
Code of 1986, as amended from time to time.

 

“Commitment Period”: the period
from and including the Closing Date to but excluding the Termination Date or such earlier date on which the Commitments shall terminate
as provided herein.

 

“Commitments”: the collective
reference to the Revolving Credit Commitments, Multicurrency Commitments and L/C Commitments.

 

“Committed Outstandings Percentage”:
on any date with respect to any Lender, the percentage which the Adjusted Aggregate Committed Outstandings of such Lender constitutes
of the Adjusted Aggregate Committed Outstandings of all Lenders.

 

“Commonly Controlled Entity”:
an entity, whether or not incorporated, which is under common control with the Borrower within the meaning of Section 4001(a)(14)(A)-(B) of
ERISA or is part of a group which includes the Borrower and which is treated as a single employer under Sections 414(b), 414(c), 414(m) and
414(o) of the Code.

 

“Conduit Lender”: any special
purpose corporation organized and administered by any Lender for the purpose of making Loans otherwise required to be made by such Lender
and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not
relieve the designating Lender of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails
to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver
all consents and waivers required or requested under this Agreement with respect to its Conduit Lender; and provided, further,
that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to subsection 3.9, 3.10, 3.11
or 13.5 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit
Lender or (b) be deemed to have any Commitment.

 

    	 	- 9 -	 

     

    

 

“Consolidated EBITDA”: of any
Person for any period, without duplication, Consolidated Net Income of such Person and its Subsidiaries for such period plus, to
the extent reflected as a charge in the statement of such Consolidated Net Income for such period, the sum of:

 

(a)          income
tax expense, including any expenses resulting from income tax disputes with a Governmental Authority,

 

(b)          Consolidated
Interest Expense of such Person and its Subsidiaries, amortization or writeoff of debt discount and debt issuance costs and commissions,
discounts and other fees and charges associated with Indebtedness,

 

(c)          depreciation
expense,

 

(d)          amortization
or write-down of intangibles (including, but not limited to, goodwill) and organization costs,

 

(e)          any
extraordinary, unusual or nonrecurring expenses or losses (to the extent any of the foregoing are non-cash items) (including, whether
or not otherwise includable as a separate item in the statement of such Consolidated Net Income for such period, losses on sales of assets
outside of the ordinary course of business (including as a result of write downs of goodwill or net intangible assets) and including special
charges and purchased research and development charges in connection with acquisitions and other strategic alliances, inventory step-up
charges, fair value adjustments, and unrealized investment impairments),

 

(f)           any
non-cash stock compensation expense in accordance with GAAP,

 

(g)          any
cash litigation costs, including judgments, orders, awards, settlements and related legal costs paid during such period (net of any cash
litigation or settlement payments received during such period) (“Cash Litigation Payments”), provided that, solely
for the purposes of this definition, the aggregate amount of Cash Litigation Payments under this clause (g) since March 31,
2021 shall not exceed $1,000,000,000 plus all Accrued Legal Liabilities as set forth in the financial statements of the Borrower required
to be delivered pursuant to Section 8.1 for the period ended March 31, 2021,

 

(h)          any
cash or non-cash charges in respect of restructurings, plant closings, staff reductions, distributor network optimization initiatives,
distribution technology optimization initiatives or other similar charges, provided that, solely for the purposes of this definition,
the aggregate amount of all charges under this clause (h) shall not exceed $500,000,000 since March 31, 2021,

 

(i)           any
income or expense associated with business combinations following the adoption of FASB Statement No. 141(R), “Business Combinations
- a replacement of FASB Statement No. 141”, which would have been treated as a cost of the acquisition (e.g., as goodwill)
under FASB Statement No. 141, “Business Combinations” including income or expense relating to contingent consideration,
and

 

(j)           any
Non-Cash Charges, including those attributable to litigation, intangible asset impairment, intellectual property research and development
charges;

 

and minus, to the extent included in the statement of such Consolidated
Net Income for such period, the sum of

 

    	 	- 10 -	 

     

    

 

(a)          interest
income (except to the extent deducted in determining Consolidated Interest Expense), and

 

(b)          any
extraordinary, unusual or nonrecurring income or gains (to the extent any of the foregoing are non-cash items) (including, whether or
not otherwise includable as a separate item in the statement of such Consolidated Net Income for such period, gains on the sales of assets
outside of the ordinary course of business, inventory step-up charges, fair value adjustments, and unrealized investment impairments).

 

Notwithstanding the foregoing, for each of the fiscal quarters ending
June 30, 2020, September 30, 2020 and December 31, 2020, the Consolidated EBITDA shall be $670,600,000.

 

“Consolidated Interest Expense”:
of any Person for any period, total interest expense of such Person and its Subsidiaries for such period with respect to all outstanding
Indebtedness of such Person and its Subsidiaries determined in accordance with GAAP (including, all net costs that are allocable to such
period in accordance with GAAP).

 

“Consolidated Leverage Ratio”:
as at the last day of any period of four consecutive fiscal quarters of the Borrower, the ratio of (a) Consolidated Total Debt on
such day to (b) Consolidated EBITDA of the Borrower and its Subsidiaries for such period.

 

“Consolidated Net Income”: of
any Person for any period, the consolidated net income (or loss) of such Person and its Subsidiaries for such period, determined on a
consolidated basis in accordance with GAAP plus cash receipts received in connection with litigation related Non-Cash Charges and minus
cash payments made in connection with such litigation related Non-Cash Charges.

 

“Consolidated Tangible Assets”:
at any date, Consolidated Total Assets minus (without duplication) the net book value of all assets which would be treated as intangible
assets, as determined on a consolidated basis in accordance with GAAP.

 

“Consolidated Total Assets”:
at any date, the net book value of all assets of the Borrower and its Subsidiaries as determined on a consolidated basis in accordance
with GAAP.

 

“Consolidated Total Debt”: at
any date, an amount equal to the aggregate principal amount of all Indebtedness (excluding, for the avoidance of doubt, any operating
leases) of the Borrower and its Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP as in effect on
the date of this Agreement and with subsection 1.2(e), provided that Indebtedness incurred to prefund a Qualified Acquisition shall
not constitute Consolidated Total Debt for purposes of compliance with Section 9.1 until the earlier of (i) the Qualified
Acquisition has closed or (ii) the date the consummation of such Qualified Acquisition has been abandoned, terminated or expired
pursuant to the terms of the relevant acquisition documentation.

 

“Continuing Directors”: as defined
in subsection 10(j).

 

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

 

“Conversion Date”: any date
on which either (a) an Event of Default under subsection 10(g) has occurred or (b) the Commitments shall have been
terminated and/or the Loans shall have been declared immediately due and payable pursuant to Section 10.

 

    	 	- 11 -	 

     

    

 

“Conversion Sharing Percentage”:
on any date with respect to any Lender and any Loans of such Lender outstanding in any currency other than Dollars, the percentage of
such Loans such that, after giving effect to the conversion of such Loans to Dollars and the purchase and sale by such Lender of participating
interests as contemplated by subsection 13.15, the Committed Outstandings Percentage of such Lender will equal such Lender’s
Revolving Credit Commitment Percentage on such date (calculated immediately prior to giving effect to any termination or expiration of
the Commitments on the Conversion Date).

 

“Converted Loans”: as defined
in subsection 13.15(a).

 

“Covered Party”: as defined
in subsection 13.21(a).

 

“Debtor Relief Laws”:
the Bankruptcy Code, 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”: any of the events
specified in Section 10, whether or not any requirement for the giving of notice, the lapse of time, or both, or any other
condition, has been satisfied.

 

“Defaulting Lender”: subject
to subsection 2.19(b), any Lender that, as reasonably determined by the Administrative Agent, (a) has failed to perform any
of its funding obligations hereunder, including in respect of its Loans or participations in respect of Letters of Credit, within two
Business Days of the date required to be funded by it hereunder (other than as a result of a good faith dispute with respect to amount),
(b) has notified the Borrower, the Administrative Agent or any Lender that it does not intend to comply with its funding obligations
or has made a public statement to that effect with respect to its funding obligations hereunder or generally under other agreements in
which it commits to extend credit, (c) has failed, within three Business Days after request by the Administrative Agent, to provide
a certification in writing from an authorized officer of such Lender that it will comply with its funding obligations (and is financially
able to meet such obligations), provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon
the Administrative Agent’s receipt of such certification in form and substance satisfactory to it and the Borrower, or (d) has
(i) become the subject of a proceeding under any Debtor Relief Law or a Bail-In Action, (ii) had a receiver, conservator, trustee,
administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a
custodian appointed for it, or (iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence
in any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership
or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority as long
as such ownership or acquisition 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 by such Lender.

 

“Disposition” or “Dispose”:
the sale, transfer, license, lease or other disposition, whether effected pursuant to a Division or otherwise (including any sale and
leaseback transaction), of any property by any Person, 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.

 

“Dividing Person”: as defined
in the definition of “Division”.

 

    	 	- 12 -	 

     

    

 

“Division”: the division of
assets, liabilities and/or obligations of a Person (the “Dividing Person”) among two or more Persons (whether pursuant
to a “plan of division” or similar arrangement), which may or may not include the Dividing Person and pursuant to which the
Dividing Person may or may not survive.

 

“Documentation Agents”: Bank
of America, N.A., Barclays Bank PLC, Citibank, N.A., JPMorgan Chase Bank, N.A. and Société Générale, as Documentation
Agents for this Agreement.

 

“Dollar Equivalent”: at the
time of determination thereof, (a) if such amount is expressed in Dollars, such amount, (b) if such amount is expressed in an
Available Foreign Currency, the equivalent of such amount in Dollars determined by using the rate of exchange for the purchase of Dollars
with such Available Foreign Currency in the London foreign exchange market at or about 11:00 a.m. London time (or New York time,
as applicable) on a particular day as displayed by ICE Data Services as the “ask price”, or as displayed on such other information
service which publishes that rate of exchange from time to time in place of ICE Data Services (or if such service ceases to be available,
the equivalent of such amount in Dollars as determined by the Administrative Agent based on the rate published or quoted by Bloomberg)
and (c) if such amount is denominated in any other currency, the equivalent of such amount in Dollars as determined by the Administrative
Agent based on the rate published or quoted by Bloomberg.

 

“Dollars” and “$”:
dollars in lawful currency of the United States of America.

 

“Early
Opt-in Election”: with respect to any then-current Benchmark, the occurrence of:

 

		(1)	(i) a determination by the Administrative Agent or (ii) a notification by the Majority Lenders
to the Administrative Agent (with a copy to the Borrower) that the Majority Lenders have determined that syndicated credit facilities
being executed at such time, or that include language similar to that contained in this Section are being executed or amended, as
applicable, to incorporate or adopt a new benchmark interest rate to replace such Benchmark, and

 

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

 

“EEA Financial Institution”:
(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”: any of
the member states of the European Union, Iceland, Liechtenstein, and Norway.

 

“EEA Resolution Authority”:
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.

 

    	 	- 13 -	 

     

    

 

“Environmental Laws”: any and
all applicable foreign, Federal, state, local or municipal laws, rules, regulations, statutes, ordinances, codes, decrees or other enforceable
requirements or orders of any Governmental Authority or other Requirements of Law regulating, relating to or imposing liability or standards
of conduct concerning protection of human health or the environment, as now or may at any time hereafter be in effect.

 

“ERISA”: the Employee Retirement
Income Security Act of 1974, as amended from time to time.

 

“Erroneous Payment”: as defined
in subsection 11.12(a).

 

“Erroneous Payment Deficiency Assignment”:
as defined in subsection 11.12(d)

 

“Erroneous Payment Return Deficiency”:
as defined in subsection 11.12(d).

 

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

 

“EURIBOR”:
for any Interest Period for each Eurodollar Loan denominated in Euro comprising part of the same borrowing, an interest rate per annum
equal to (a) the Euro interbank offered rate administered by the Banking Federation of the European monetary union (or any other
person which takes over administration of that rate) for the relevant period displayed on page EURIBOR01 of the Reuters screen at
or about 11:00 A.M. (Central European time) two Target Operating Days before the first day of such Interest Period or, if such page or
such service shall cease to be available, such other page or such other service for the purpose of displaying an average rate of
the Banking Federation of the European monetary union as the Administrative Agent, after consultation with the Lenders and the Borrower,
shall reasonably select; provided that any comparable or successor rate shall be applied in a manner consistent with market practice or
(b) if no quotation for the Euro for the relevant period is displayed and the Administrative Agent has not selected an alternative
service on which a quotation is displayed, the rate per annum determined by the Administrative Agent as the average at which deposits
in Euro for delivery on the first day of such Interest Period in same day funds in the approximate amount of the Eurodollar Loan being
made, continued or converted and with a term equivalent to such Interest Period are offered to the Administrative Agent’s London
branch (or other branch or Affiliate) by leading banks in the European interbank market at or about 11:00 A.M. (Central European
time) two Target Operating Days before the first day of such Interest Period. EURIBOR shall not be less than zero. If any Interest Period
is an Impacted Interest Period, then EURIBOR shall be the Interpolated Rate for such Interest Period.

 

“Euros”: the single currency
of the participating member states of the European monetary union.

 

    	 	- 14 -	 

     

    

 

“Eurocurrency Rate”:

 

(a)          for
any Interest Period with respect to a Loan other than an ABR Loan, a rate per annum determined in accordance with the following formula:

 

	
    Eurocurrency
    Base Rate

	1.00 - Eurocurrency Reserve Requirements

 

where,

 

“Eurocurrency Base Rate” means (i) with
respect to each day during each Interest Period pertaining to a Eurodollar Loan or CAF Advance denominated in Dollars, Japanese Yen or
Swiss Franc, the rate per annum determined by the Administrative Agent to be the rate administered by the ICE Benchmark Administration
(or any successor thereto) as the offered rate for deposits in Dollars with a term comparable to such Interest Period appearing on the
Reuters Screen LIBOR01 Page at approximately 11:00 A.M., London time, two Business Days prior to the beginning of such Interest Period;
provided, however, that if at any time for any reason such offered rate for any such currency does not appear on a Reuters
page, “Eurocurrency Base Rate” shall mean, with respect to each day during each Interest Period pertaining to a Loan
denominated in such currency, the rate per annum determined by the Administrative Agent to be the average rate at which the Administrative
Agent’s London branch is offered deposits in such currency at or about 11:00 A.M., London time, two Business Days prior to the beginning
of such Interest Period in the London interbank market for delivery on the first day of such Interest Period for the number of days comprised
therein, (ii) with respect to each day during each Interest Period pertaining to a Multicurrency Loan or CAF Advance denominated
in Pounds Sterling, the rate per annum determined by the Administrative Agent to be the offered rate for deposits in the applicable currency
with a term comparable to such Interest Period appearing on the Reuters Screen LIBOR01 Page at approximately 11:00 A.M., London time,
on the first day of such Interest Period; provided, however, that if at any time for any reason such offered rate for Pounds
Sterling does not appear on a Reuters page, “Eurocurrency Base Rate” shall mean, with respect to each day during each
Interest Period pertaining to a Loan denominated in Pounds Sterling, the rate per annum determined by the Administrative Agent to be the
average rate at which the Administrative Agent is offered deposits in Pounds Sterling at or about 11:00 A.M., London time, on the first
day of such Interest Period in the London interbank market for delivery on the first day of such Interest Period for the number of days
comprised therein, (iii) with respect to each day during each Interest Period pertaining to a Multicurrency Loan or CAF Advance denominated
in Euros, EURIBOR, (iv) with respect to each day during each Interest Period pertaining to a Multicurrency Loan or CAF Advance denominated
in Australian Dollars, BBSY, (v) with respect to each day during each Interest Period pertaining to a Multicurrency Loan or CAF Advance
denominated in Canadian Dollars, CDOR, and (vi) with respect to each day during each Interest Period pertaining to a Multicurrency
Loan or CAF Advance denominated in Singapore Dollars, SGD; provided that if any Interest Period with respect to any currency is
an Impacted Interest Period, then the Eurocurrency Base Rate shall be the Interpolated Rate with respect to the applicable currency for
such Interest Period; and

 

(b)          for
any interest calculation with respect to an ABR Loan, a rate per annum determined in accordance with the following formula:

 

	
    Eurocurrency
    Base Rate

	1.00 - Eurocurrency Reserve Requirements

 

where,

 

“Eurocurrency Base Rate” means for any
interest calculation with respect to an ABR Loan on any date, the rate per annum equal to (i) the rate appearing on the Reuters Screen
LIBOR01 Page, at approximately 11:00 A.M., London time determined two Business Days prior to such date for Dollar deposits being delivered
in the London interbank market for a term of one month commencing that day or (ii) if such published rate is not available at such
time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery
on the date of determination in same day funds in the approximate amount of the ABR Loan being made or maintained and with a term equal
to one month would be offered by the Administrative Agent’s London branch to major banks in the London interbank Eurodollar market
at their request at the date and time of determination.

 

    	 	- 15 -	 

     

    

 

The Eurocurrency Rate and Eurocurrency Base Rate shall not
be less than zero.

 

“Eurocurrency Reserve Requirements”:
for any day as applied to a Loan, the aggregate (without duplication) of the rates (expressed as a decimal) of reserve requirements in
effect on such day (including, without limitation, basic, supplemental, marginal and emergency reserves) under any regulations of the
Board or other Governmental Authority having jurisdiction with respect thereto dealing with reserve requirements prescribed for eurocurrency
funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of such Board) maintained by a member bank of
such System.

 

“Eurodollar Loans”: Revolving
Credit Loans, the rate of interest applicable to which is based upon clause (a) of the definition of “Eurocurrency Rate”.

 

“Event of Default”: any of the
events specified in Section 10, provided that any requirement for the giving of notice, the lapse of time, or both,
or any other condition, has been satisfied.

 

“Exchange Rate”: with respect
to any non-Dollar currency on any date, the rate at which such currency may be exchanged into Dollars, as set forth on such date on the
relevant Reuters currency page at or about 11:00 A.M., London time, on the date that is (x) in the case of Pounds Sterling and
Canadian Dollars, on the date as of which the foreign exchange computation is made and (y) in the case of any other non-Dollar currency,
two Business Days prior to the date as of which the foreign exchange computation is made. In the event that such rate does not appear
on any Reuters currency page, the “Exchange Rate” with respect to such non-Dollar currency shall be determined by reference
to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Borrower
or, in the absence of such agreement, such “Exchange Rate” shall instead be the Administrative Agent’s spot rate of
exchange in the interbank market where its foreign currency exchange operations in respect of such non-Dollar currency are then being
conducted, at or about 10:00 A.M., London time, on such applicable date for the purchase of Dollars with such non-Dollar currency, for
delivery (x) in the case of Pounds Sterling and Canadian Dollars, on such date and (y) in the case of any other non-Dollar currency,
two Business Days later; provided, that if at the time of any such determination, no such spot rate can reasonably be quoted, the
Administrative Agent may use any reasonable method as it deems applicable to determine such rate, and such determination shall be conclusive
absent manifest error. The Administrative Agent shall determine the Exchange Rate as of each Revaluation Date in accordance with the foregoing.

 

“Excluded Taxes”: as defined
in subsection 3.10(a).

 

“Existing Credit Facilities”:
as defined in the recitals hereto.

 

“Extensions of Credit”:
as to any Lender at any time, (a) an amount equal to the sum of (i) the aggregate principal amount of all Revolving Credit Loans
made by such Lender then outstanding and (ii) such Lender’s Revolving Credit Commitment Percentage of the L/C Obligations then
outstanding, or (b) the making of any Loan or participation in any Letter of Credit by such Lender, as the context requires.

 

“Extension Request”: a written
request from the Borrower to the Administrative Agent requesting an extension of the Termination Date.

 

    	 	- 16 -	 

     

    

 

“Facility Fee Rate”: for each
day during each calculation period, the rate per annum based on the Ratings in effect on such day, as set forth below:

 

	Rating	 	Facility
 Fee Rate	 
	Rating I	 	 	0.080	%
	Rating II	 	 	0.090	%
	Rating III	 	 	0.110	%
	Rating IV	 	 	0.150	%
	Rating V	 	 	0.225	%

 

“FATCA”: 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), any current or future regulations or official interpretations thereof, any applicable intergovernmental
agreements with respect thereto, any law, regulations, or other official guidance enacted in any other jurisdiction relating to such intergovernmental
agreement, and any agreement entered into pursuant to Section 1471(b)(1) of the Code.

 

“Federal Funds Effective Rate”:
for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions (as determined
in such manner as the NYFRB shall set forth on its public website from time to time) and published on the next succeeding Business Day
by the NYFRB as the federal funds effective rate, provided that if the Federal Funds Effective Rate shall be less than zero, such
rate shall be deemed to zero for the purposes of this Agreement.

 

“Fee Commencement Date”: the
Closing Date.

 

“Financing Lease”: any lease
of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized
on a balance sheet of the lessee.

 

“Fixed Rate CAF Advance”: any
CAF Advance made pursuant to a Fixed Rate CAF Advance Request.

 

“Fixed Rate CAF Advance Request”:
any CAF Advance Request requesting the Lenders to offer to make CAF Advances at a fixed rate (as opposed to a rate composed of the Eurocurrency
Rate plus (or minus) a margin).

 

“Foreign Subsidiary Borrower”:
each Subsidiary of the Borrower organized under the laws of a jurisdiction outside the United States that the Borrower designates as a
 “Foreign Subsidiary Borrower” in a Local Currency Facility Addendum.

 

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

 

“Funding Commitment Percentage”:
as at any date of determination (after giving effect to the making and payment of any Loans made on such date pursuant to subsection
2.16), with respect to any Lender, that percentage which the Available Revolving Credit Commitment of such Lender then constitutes
of the Aggregate Available Revolving Credit Commitments.

 

“GAAP”: generally accepted accounting
principles in the United States of America consistent with those utilized in preparing the audited financial statements referred to in
subsection 6.1.

 

“Governmental Authority”: any
nation or government, any state or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory
or administrative functions of or pertaining to government.

 

    	 	- 17 -	 

     

    

 

“Guarantee Obligation”: as to
any Person (the “guaranteeing person”), any obligation of (a) the guaranteeing person or (b) another Person
(including, without limitation, any bank under any letter of credit) to induce the creation of which the guaranteeing person has issued
a reimbursement, counterindemnity or similar obligation, in either case guaranteeing or in effect guaranteeing any Indebtedness, leases,
dividends or other obligations (the “primary obligations”) of any other unrelated third Person (the “primary
obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of the guaranteeing person,
whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor,
(ii) to advance or supply funds (1) for the purchase or payment of any such primary obligation or (2) to maintain working
capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to
purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability
of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such
primary obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include
endorsements of instruments for deposit or collection in the ordinary course of business. The amount of any Guarantee Obligation of any
guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation
in respect of which such Guarantee Obligation is made and (b) the maximum amount for which such guaranteeing person may be liable
pursuant to the terms of the instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for
which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall
be such guaranteeing person’s reasonably anticipated liability in respect thereof as determined by the Borrower in good faith.

 

“Hedge Agreements”: all agreements
with non-related third parties of the Borrower with respect to any swap, forward, future or derivative transaction or option or similar
agreements involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities,
or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any
combination of these transactions; provided that no employee benefit plan of the Borrower or any of its Subsidiaries shall be a
 “Hedge Agreement.”

 

“Impacted Interest Period”:
any Interest Period for which the applicable rate or screen used to determine the applicable rate (the “Applicable Screen Rate”)
shall not be available at the applicable time for such Interest Period.

 

“Indebtedness”: of any Person
at any date, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person
for the deferred purchase price of property or services (other than current trade liabilities incurred in the ordinary course of such
Person’s business and payable in accordance with customary practices and earn-outs and other similar obligations in respect of acquisition
and other similar agreements), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments,
(d) all indebtedness created or arising under any conditional sale or other title retention agreement with respect to property acquired
by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to
repossession or sale of such property), (e) all Capital Lease Obligations of such Person, (f) all obligations of such Person,
contingent or otherwise, as an account party or applicant under or in respect of acceptances, letters of credit, surety bonds or similar
arrangements, (g) the liquidation value of all redeemable preferred Capital Stock of such Person, (h) all indebtedness of such
Person, determined in accordance with GAAP, arising out of a Receivables Transaction, (i) all Guarantee Obligations of such Person
in respect of obligations of the kind referred to in clauses (a) through (h) above, (j) all obligations of the kind referred
to in clauses (a) through (i) above secured by (or for which the holder of such obligation has an existing right, contingent
or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, whether or not such
Person has assumed or become liable for the payment of such obligation, and (k) for the purposes of subsection 10(f) only,
all obligations of such Person in respect of Hedge Agreements. The Indebtedness of any Person shall, for the avoidance of doubt, exclude
any operating leases (as defined in GAAP as in effect on the date of this Agreement) and the Indebtedness of any Person shall include
the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is
liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent
the terms of such Indebtedness expressly provide that such Person is not liable therefor.

 

    	 	- 18 -	 

     

    

 

“indemnified liabilities” as
defined in subsection 13.5.

 

“indemnified party: as defined in
subsection 13.5.

 

“Information” as defined in
subsection 13.14.

 

“Insolvency”: with respect to
any Multiemployer Plan, the condition that such Multiemployer Plan is insolvent within the meaning of Section 4245 of ERISA.

 

“Interest Payment Date”: (a) as
to any ABR Loan, the last day of each March, June, September and December and the Termination Date, (b) as to any Eurodollar
Loan or Multicurrency Loan having an Interest Period of three months or less, the last day of such Interest Period, and (c) as to
any Eurodollar Loan or Multicurrency Loan having an Interest Period longer than three months, each day which is three months, or a whole
multiple thereof, after the first day of such Interest Period and the last day of such Interest Period.

 

“Interest Period”: (a) with
respect to any Eurodollar Loan or Multicurrency Loan:

 

(i)          initially,
the period commencing on the Borrowing Date or conversion date, as the case may be, with respect to such Eurodollar Loan or Multicurrency
Loan and ending one, three or six (or, if available to all Lenders, twelve) months thereafter, as selected by the Borrower in its notice
of borrowing or notice of conversion, as the case may be, given with respect thereto; and

 

(ii)         thereafter,
each period commencing on the last day of the next preceding Interest Period applicable to such Eurodollar Loan or Multicurrency Loan
and ending one, three or six (or, if available to all Lenders, twelve) months thereafter, as selected by the Borrower by irrevocable notice
to the Administrative Agent not less than three Business Days prior to the last day of the then current Interest Period with respect thereto;

 

provided
that, all of the foregoing provisions relating to Interest Periods are subject to the following:

 

(1)          if
any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding
Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such
Interest Period shall end on the immediately preceding Business Day;

 

(2)          any
Interest Period in respect of any Loan made by any Lender that would otherwise extend beyond the Termination Date applicable to such Lender
shall end on such Termination Date;

 

    	 	- 19 -	 

     

    

 

(3)          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 a calendar month;

 

(4)          no
Multicurrency Loan or CAF Advance denominated in Singapore Dollars shall have an Interest Period of one week or two months;

 

(5)          for
any Interest Period, the durations available above shall only be available in a currency if a rate based on a corresponding duration (one,
three, six or twelve months) is available from the applicable Screen Rate for the requested currency at the such time; and

 

(b)          with
respect to any LIBO Rate CAF Advance, the period beginning on the Borrowing Date with respect thereto and ending on the CAF Advance Maturity
Date with respect thereto.

 

“Interpolated Rate”: at any
time, for any Interest Period, the rate per annum (rounded to the same number of decimal places as the Applicable Screen Rate) determined
by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results
from interpolating on a linear basis between: (a) the Applicable Screen Rate for the longest period for which the Applicable Screen
Rate is available) that is shorter than the Impacted Interest Period; and (b) the Applicable Screen Rate for the shortest period
(for which that Applicable Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such time. The Interpolated
Rate shall not be less than zero.

 

“Issuing Lender”: Wells Fargo,
Bank of America, Barclays Bank PLC, Citibank, N.A., JPMorgan Chase Bank, N.A., Société Générale and each other
Lender which agrees to act as Issuing Lender hereunder and which is approved (such approval not to be unreasonably withheld) by the Administrative
Agent and the Borrower, in its capacity as issuer of any Letter of Credit.

 

“Issuing Lender Commitment”:
as to any Issuing Lender at any time, the amount set forth opposite such Issuing Lender’s name in Schedule I under the heading
 “Issuing Lender Commitment”, as such amount may be reduced or increased from time to time in accordance with the provisions
of this Agreement.

 

“Japanese Yen”: the lawful currency
of Japan.

 

“Judgment Currency”: as defined
in subsection 13.16(b).

 

“L/C Commitment”: the lesser
of (i) $500,000,000 and (ii) the aggregate amount of the Revolving Credit Commitments then in effect (or, if the Revolving Credit
Commitments have terminated, the Aggregate Revolving Credit Commitments in effect immediately prior to such termination).

 

“L/C Fee Payment Date”: the
last day of each March, June, September and December and the last day of the Commitment Period.

 

“L/C Obligations”: at any time,
an amount equal to the sum of (a) the aggregate then undrawn amount of the then outstanding Letters of Credit and (b) the aggregate
amount of drawings under Letters of Credit that have not then been reimbursed pursuant to subsection 5.5.

 

    	 	- 20 -	 

     

    

 

“L/C Participants”: the collective
reference to all the Lenders other than the Issuing Lender.

 

“Lender Affiliate”: (a) any
Affiliate of any Lender, (b) any Person that is administered or managed by any Lender and that is engaged in making, purchasing,
holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business and (c) with
respect to any Lender which is a fund that invests in commercial loans and similar extensions of credit, any other fund that invests in
commercial loans and similar extensions of credit and is managed or advised by the same investment advisor as such Lender or by an Affiliate
of such Lender or investment advisor.

 

“Lenders”: as defined in the
preamble hereto together with any affiliate of any such Person through which such Person elects, by notice to the Administrative Agent
and the Borrower, to make any Loans available to the Borrower or any Foreign Subsidiary Borrower; provided that, for all purposes
of voting or consenting with respect to (a) any amendment, supplementation or modification of any Loan Document, (b) any waiver
of any requirements of any Loan Document or any Default or Event of Default and its consequences, or (c) any other matter as to which
a Lender may vote or consent pursuant to subsection 13.1 of this Agreement, the Lender making such election shall be deemed the
 “Person” rather than such affiliate, which shall not be entitled to vote or consent; and provided further, that unless
the context otherwise requires, each reference herein to the Lenders shall be deemed to include any Conduit Lender.

 

“Lending Office”:
with respect to any Lender, the office of such Lender maintaining such Lender’s Extensions of Credit, which office may, to the extent
the applicable Lender notifies the Administrative Agent in writing, include an office of any Affiliate of such Lender or any domestic
or foreign branch of such Lender or Affiliate.

 

“Letters of Credit”: as defined
in subsection 5.1(a).

 

“LIBO Rate CAF Advance”: any
CAF Advance made pursuant to a LIBO Rate CAF Advance Request.

 

“LIBO Rate CAF Advance Request”:
any CAF Advance Request requesting the Lenders to offer to make CAF Advances at an interest rate equal to the Eurocurrency Rate for the
currency of such CAF Advance plus (or minus) a margin.

 

“Lien”: any mortgage, pledge,
hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or other security interest or any preference,
priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, any
conditional sale or other title retention agreement and any Financing Lease having substantially the same economic effect as any of the
foregoing but excluding for all purposes hereunder any letter of credit).

 

“Loan”: any Revolving Credit
Loan, CAF Advance, Multicurrency Loan or Local Currency Loan, as the case may be.

 

“Loan Documents”: this Agreement,
any Notes, the Applications, any Letters of Credit and any document or instrument evidencing or governing any Local Currency Facility.

 

“Loans to be Converted”: as
defined in subsection 13.15(a).

 

    	 	- 21 -	 

     

    

 

“Local Currency”: any available
and freely convertible non-Dollar currency selected by a Foreign Subsidiary Borrower and approved by the Administrative Agent.

 

“Local Currency Facility”: any
Qualified Credit Facility that the Borrower designates as a “Local Currency Facility” pursuant to a Local Currency Facility
Addendum.

 

“Local Currency Facility Addendum”:
a Local Currency Facility Addendum received by the Administrative Agent, substantially in the form of Exhibit I, and conforming
to the requirements of Section 4.

 

“Local Currency Facility Agent”:
with respect to each Local Currency Facility, the Local Currency Lender acting as agent for the Local Currency Lenders parties thereto
(and, in the case of any Local Currency Facility to which only one Lender is a party, such Lender).

 

“Local Currency Facility Maximum Borrowing
Amount”: as defined in subsection 4.1(b).

 

“Local Currency Lender”: any
Lender (or, if applicable, any Affiliate, branch or agency thereof) party to a Local Currency Facility.

 

“Local Currency Lender Maximum Borrowing
Amount”: as defined in subsection 4.1(b).

 

“Local Currency Loan”: any loan
made pursuant to a Local Currency Facility.

 

“London Banking Day”: any day
on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

 

“Majority Lenders”: Lenders
whose Aggregate Exposure Percentage in the aggregate is more than 50%. “Aggregate Exposure Percentage”: as at any date
of determination with respect to any Lender (a) at any time prior to the termination of the Revolving Credit Commitments, the aggregate
Revolving Credit Commitments of such Lender divided by the aggregate Revolving Credit Commitments of all Lenders and (b) at
any time after the termination of the Revolving Credit Commitments, the Aggregate Total Outstandings of such Lender divided by
the Aggregate Total Outstandings of all Lenders; provided that for purposes of this definition, the Aggregate Exposure Percentage
of each Lender shall be adjusted upward or downward so as to give effect to any participations or assignments effected pursuant to subsection
13.15; and provided further that the Revolving Credit Commitment of, and the Aggregate Total Outstandings held or deemed to
be held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Lenders.

 

“Majority Multicurrency Lenders”:
at any time, Multicurrency Lenders the Multicurrency Commitment Percentages of which aggregate more than 50%; provided that the Multicurrency
Commitment of, and the Aggregate Multicurrency Outstandings held or deemed to be held by, any Defaulting Lender shall be excluded for
purposes of making a determination of Majority Multicurrency Lenders.

 

“Material Adverse Effect”: a
material adverse effect on (a) the business, operations, property or condition (financial or otherwise) of the Borrower and its Subsidiaries
taken as a whole or (b) the validity or enforceability of this Agreement or any of the other Loan Documents or the rights or remedies
of the Administrative Agent or the Lenders hereunder or thereunder.

 

    	 	- 22 -	 

     

    

 

“Materials of Environmental Concern”:
any gasoline or petroleum (including crude oil or any fraction thereof) or petroleum products or any hazardous or toxic substances, materials
or wastes, defined or regulated as such in or under any Environmental Law, including, without limitation, asbestos, polychlorinated biphenyls
and urea-formaldehyde insulation.

 

“Maximum Leverage Ratio”: (i) for
the fiscal quarter ending June 30, 2021, the Maximum Leverage Ratio shall be 4.25 to 1.00, (ii) for the fiscal quarter ending
September 30, 2021, the Maximum Leverage Ratio shall be 4.00 to 1.00 and (iii) for the fiscal quarter ending December 31,
2021 and each fiscal quarter thereafter, the Maximum Leverage Ratio shall be 3.75 to 1.00; provided that (a) for the four
consecutive fiscal quarters ended immediately following the consummation of any Qualified Acquisition (including the fiscal quarter in
which such Qualified Acquisition occurs), the Maximum Leverage Ratio shall be 4.75 to 1.00, (b) for the fiscal quarter ended immediately
after such four fiscal quarters referred to in clause (a), the Maximum Leverage Ratio shall be 4.50 to 1.00, (c) for the fiscal quarter
ended immediately after the fiscal quarter referred to in clause (b), the Maximum Leverage Ratio shall be 4.25 to 1.00 and (d) for
the fiscal quarter ended immediately after the fiscal quarter referred to in clause (c), the Maximum Leverage Ratio shall be 4.00 to 1.00
(and, for the avoidance of doubt, for each fiscal quarter ended after the fiscal quarter referred to in clause (d), the Maximum Leverage
Ratio shall be 3.75 to 1.00).

 

“Moody’s”: Moody’s
Investors Service, Inc. or any successor thereto.

 

“Multicurrency Commitment”:
as to any Multicurrency Lender at any time, its obligation to make Multicurrency Loans to the Borrower in an aggregate amount in Available
Foreign Currencies the Dollar Equivalent of which does not exceed at any time outstanding the amount set forth opposite such Multicurrency
Lender’s name in Schedule I under the heading “Multicurrency Commitment”, as such amount may be reduced from
time to time as provided in subsection 2.15 and the other applicable provisions hereof.

 

“Multicurrency Commitment Percentage”:
as to any Multicurrency Lender at any time, the percentage which such Multicurrency Lender’s Multicurrency Commitment at such time
constitutes of the aggregate Multicurrency Commitments of all Multicurrency Lenders at such time (or, if the Multicurrency Commitments
have terminated or expired, the percentage which (a) the Dollar Equivalent of the Aggregate Multicurrency Outstandings of such Multicurrency
Lender at such time constitutes of (b) the Dollar Equivalent of the Aggregate Multicurrency Outstandings of all Multicurrency Lenders
at such time).

 

“Multicurrency Lender”: each
Lender having an amount greater than zero set forth opposite such Lender’s name in Schedule I under the heading “Multicurrency
Commitment.”

 

“Multicurrency Loans”: as defined
in subsection 2.12.

 

“Multicurrency Note”: as defined
in subsection 3.13(f).

 

“Multicurrency Sublimit”: at
any time, the lesser of (i) $800,000,000 and (ii) the aggregate amount of the Revolving Credit Commitments then in effect (or,
if the Revolving Credit Commitments have terminated, the aggregate Revolving Credit Commitments in effect immediately prior to such termination).

 

“Multiemployer Plan”: a Plan
which is a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

 

    	 	- 23 -	 

     

    

 

“Non-Cash Charges”: (a) losses
on asset sales, disposals or abandonments, (b) any impairment charge or asset write-off related to intangible assets, long-lived
assets, and investments in debt and equity securities pursuant to GAAP, (c) all losses from investments recorded using the equity
method, (d) stock-based awards compensation expense, and (e) other non-cash charges (provided that if any non-cash charges
referred to in this clause (e) represent an accrual or reserve for potential cash items in any future period, the cash payment in
respect thereof in such future period shall be subtracted from Consolidated EBITDA to such extent, and excluding amortization of a prepaid
cash item that was paid in a prior period).

 

“Non-Consenting Lender”: any
Lender that does not approve any consent, waiver or amendment that (i) requires the approval of all affected Lenders in accordance
with the terms of subsection 13.1 and (ii) has been approved by the Majority Lenders.

 

“Non-Excluded Taxes”: as defined
in subsection 3.10(a).

 

“Non-extending Lender”: as defined
in subsection 2.20(a).

 

“Non-Multicurrency Lender”:
each Revolving Credit Lender which is not a Multicurrency Lender.

 

“Non-U.S. Lender”: a Lender
that is not a U.S. Person.

 

“Notes”: the collective reference
to any Revolving Credit Notes, any Multicurrency Notes and any CAF Advance Notes.

 

“Notice of Local Currency Outstandings”:
with respect to each Local Currency Facility Agreement, a notice from the relevant Local Currency Facility Agent containing the information,
delivered to the Administrative Agent and any other Person, in the manner and by the time, specified for a Notice of Local Currency Outstandings
in Schedule II.

 

“Notice of Multicurrency Loan Borrowing”:
with respect to a Multicurrency Loan, a notice from the Borrower containing the information in respect of such Loan, delivered to the
Administrative Agent and any other Person, in the manner and by the time, specified for a Notice of Multicurrency Loan Borrowing in respect
of the currency of such Loan in Schedule II.

 

“Notice of Multicurrency Loan Continuation”:
with respect to a Multicurrency Loan, a notice from the Borrower containing the information in respect of such Loan, delivered to the
Person, in the manner and by the time, specified for a Notice of Multicurrency Loan Continuation in respect of the currency of such Loan
in Schedule II.

 

“NYFRB”: the Federal Reserve
Bank of New York.

 

“Obligations”: collectively,
the unpaid principal of and interest on the Loans and all other obligations and liabilities of the Borrower and each Foreign Subsidiary
Borrower under this Agreement and any Local Currency Facility and other Loan Documents to which it is a party (including, without limitation,
interest accruing at the then applicable rate provided in this Agreement or any other applicable Loan Document after the maturity of the
Loans and interest accruing at the then applicable rate provided in this Agreement or any other applicable Loan Document after the filing
of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower or such
Foreign Subsidiary Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), whether
direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of,
or in connection with, this Agreement, the Notes, the other Loan Documents, Hedge Agreements entered into with Lenders or any Affiliates
of a Lender or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest,
reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements
of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower or any Foreign Subsidiary Borrower
pursuant to the terms of this Agreement or any other Loan Document).

 

    	 	- 24 -	 

     

    

 

“Overnight Bank Funding Rate”:
for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of
depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time,
and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB
shall commence to publish such composite rate).

 

“Participant”: as defined in
subsection 13.6(b).

 

“Participant Register”: as defined
in subsection 13.6(b).

 

“Patriot Act”: as defined in
subsection 13.18.

 

“Payment Receipt”: as defined
in subsection 11.12(a).

 

“PBGC”: the Pension Benefit
Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA.

 

“Person”: an individual, partnership,
corporation, business trust, joint stock company, trust, unincorporated association, joint venture, Governmental Authority or other entity
of whatever nature.

 

“Plan”: at a particular time,
any employee benefit plan which is covered by ERISA and in respect of which the Borrower or a Commonly Controlled Entity is (or, if such
plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

 

“Plan Asset Regulations”: 29
C.F.R. §2510.3-101 , et seq ., as modified by Section 3(42) of ERISA.

 

“Platform”: as defined in subsection
8.2.

 

“Pounds Sterling”: the lawful
currency of the United Kingdom of Great Britain and Northern Ireland.

 

“Properties”: as defined in
subsection 6.11(a).

 

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

 

“Public Lenders”: as defined
in subsection 8.2.

 

“QFC Credit Support”: as defined
in subsection 13.21.

 

“Qualified Acquisition”: any
transaction permitted under this Agreement and consummated on or after the Closing Date, (a) by which the Borrower or any of its
Subsidiaries (i) acquires any going concern or business or all or substantially all of the assets of any firm, corporation or limited
liability company, or division or business unit thereof, whether through purchase of assets, merger or otherwise or (ii) directly
or indirectly acquires at least a majority (in number of votes) of the Capital Stock of a Person if the aggregate amount of Indebtedness
incurred by the Borrower and its Subsidiaries to finance the purchase price and other consideration for such transaction, plus the amount
of Indebtedness assumed by the Borrower and its Subsidiaries in connection with such transaction, is at least $1,000,000,000 and (b) for
which the Borrower notifies the Administrative Agent in writing prior to or promptly upon consummation of such transaction that such transaction
shall be a “Qualified Acquisition” for purposes of this Agreement.

 

    	 	- 25 -	 

     

    

 

“Qualified Credit Facility”:
a credit facility (a) providing for one or more Local Currency Lenders to make unsecured loans denominated in a Local Currency to
a Foreign Subsidiary Borrower, (b) providing for such loans to bear interest at a rate or rates determined by the Borrower and such
Local Currency Lender or Local Currency Lenders and (c) otherwise conforming to the requirements of Section 4.

 

“Rating”: the respective rating
of each of the Rating Agencies applicable to the long-term senior unsecured non-credit enhanced debt of the Borrower, as announced by
the Rating Agencies from time to time.

 

“Rating Agencies”: collectively,
Moody’s and S&P.

 

“Rating Category”: each of Rating
I, Rating II, Rating III, Rating IV and Rating V.

 

“Rating I, Rating II, Rating III, Rating
IV and Rating V”: the respective Ratings set forth below:

 

	
    Rating

    Category
	 	 	 	 	 	
    Moody’s
	 	
    S&P

	Rating I	 	 	 	 	 	greater
than or equal to A3
	 	greater than or equal to A-
	Rating II	 	 	 	 	 	greater than or equal to Baa1	 	greater than or equal to BBB+
	Rating III	 	 	 	 	 	greater than or equal to Baa2	 	greater than or equal to BBB
	Rating IV	 	 	 	 	 	greater than or equal to Baa3	 	greater than or equal to BBB-
	Rating V	 	 	 	 	 	lower than
or equal to Ba1
	 	lower than or equal to BB+

 

If different Ratings Categories are applicable, the higher Ratings
Category shall apply unless one of the two Ratings is two or more levels lower than the other, in which case the Ratings Category shall
be the level immediately below that of the higher of the two Ratings.

 

“Receivables”: any accounts
receivable of any Person, including, without limitation, any thereof constituting or evidenced by chattel paper, instruments or general
intangibles (as defined in the Uniform Commercial Code of the State of New York), and all proceeds thereof and rights (contractual and
other) and collateral related thereto.

 

“Receivables Transaction”: any
transactions or series of related transactions providing for the financing of Receivables of the Borrower or any of its Subsidiaries.

 

“Register”: as defined in subsection
13.6(d).

 

    - 26 - 

     

    

 

“Reimbursement Obligation”:
the obligation of the Borrower to reimburse the Issuing Lender pursuant to subsection 5.5 for amounts drawn under Letters of Credit.

 

“Related Parties”: with respect
to any Person, such Person’s Affiliates and partners, officers, employees, agents and advisors of such Person and such Person’s
Affiliates.

 

“Relevant Governmental Body”:
with respect to any given Benchmark, (a) the central bank for the currency applicable to such Benchmark or any central bank or other
supervisor that is responsible for supervising either (i) such Benchmark or (ii) the administrator of such Benchmark or (b) any
working group or committee officially endorsed or convened by (i) the central bank for the currency applicable to such Benchmark,
(ii) any central bank or other supervisor that is responsible for supervising either (A) such Benchmark or (B) the administrator
of such Benchmark, (iii) a group of those central banks or other supervisors or (iv) the Financial Stability Board or any part
thereof.

 

“Reportable Event”: any of the
events set forth in Section 4043(c) of ERISA, other than those events as to which the thirty day notice period is waived under
regulations issued under PBGC Reg. § 4043 or which notice is otherwise waived by PBGC.

 

“Requested Local Currency Loans”:
as defined in subsection 2.16(b).

 

“Requested Multicurrency Loans”:
as defined in subsection 2.16(a).

 

“Requirement of Law”: as to
any Person, the Certificate of Incorporation and By-Laws or other organizational or governing documents of such Person, and any law, treaty,
rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding
upon such Person or any of its property or to which such Person or any of its property is subject.

 

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

 

“Response Date”: as defined
in subsection 2.20(a).

 

“Responsible Officer”: the chief
executive officer or the president of the Borrower or, with respect to financial matters, the chief financial officer of the Borrower.

 

“Revaluation Date”: (a) with
respect to any Loan, each of the following: (i) each date of a borrowing of a Multicurrency Loan or a Local Currency Loan or the
making of a CAF Advance, (ii) each date of a continuation of a Multicurrency Loan pursuant to subsection 3.2 and (iii) such
additional dates as the Administrative Agent shall determine or the Majority Lenders shall require; and (b) with respect to any Letter
of Credit, each of the following: (i) each date of issuance of a Letter of Credit denominated in a currency other than Dollars, (ii) each
date of an amendment of any such Letter of Credit having the effect of increasing the amount thereof (solely with respect to the increased
amount), (iii) each date of any payment by the Issuing Lender under any Letter of Credit denominated in a currency other than Dollars
and (iv) such additional dates as the Administrative Agent or the Issuing Lender shall determine or the Majority Lenders shall require.

 

“Revolving Credit Commitment”:
as to any Lender, the obligation of such Lender to make Revolving Credit Loans to the Borrower hereunder in an aggregate principal amount
at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule I under the heading
 “Revolving Credit Commitment,” as such amount may be reduced or increased from time to time in accordance with the provisions
of this Agreement.

 

“Revolving Credit Commitment Percentage”:
as to any Lender at any time, the percentage which such Lender’s Revolving Credit Commitment at such time constitutes of the Aggregate
Revolving Credit Commitments at such time (or, if the Revolving Credit Commitments have terminated or expired, the percentage which (a) the
Aggregate Revolving Credit Outstandings of such Lender at such time then constitutes of (b) the Aggregate Revolving Credit Outstandings
of all Lenders at such time), subject to adjustment as provided in subsection 2.19.

 

    - 27 - 

     

    

 

“Revolving Credit Loans”: as
defined in subsection 2.1.

 

“Revolving Credit Note”: as
defined in subsection 3.13(d).

 

“Revolving Lender”: each Lender
that has a Revolving Credit Commitment hereunder or that holds Revolving Credit Loans.

 

“S&P”: Standard &
Poor’s Ratings Services or any successor thereto.

 

“Sanctioned Country”: a country
or territory which is the subject or target of any Sanctions (as of the Closing Date, the Crimea region of Ukraine, Cuba, Iran, North
Korea and Syria).

 

“Sanctioned Person”: (a) any
Person described or listed in any Sanctions-related executive order or list of designated Persons maintained by the Office of Foreign
Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, the United Nations Security Council, the European
Union, any European Union member state, Her Majesty’s Treasury of the United Kingdom or other relevant sanctions authority, (b) any
Person operating, organized or resident in a Sanctioned Country or (c) any Person 50 percent or more owned or controlled by any such
Person.

 

“Sanctions”: economic or financial
sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered
by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State or (b) the United
Nations Security Council, the European Union, any European Union member state, Her Majesty’s Treasury of the United Kingdom or other
relevant sanctions authority.

 

“SGD”: with respect to Singapore
Dollars for any Interest Period, the rate per annum equal to the rate administered by the Association of Banks in Singapore (or any other
person which takes over the administration of that rate) for Singapore Dollars displayed on page SIBOR of the Reuters screen (or
any replacement Reuters page which displays that rate) at approximately the Singapore time equivalent of 12:00 p.m. (London
time) two Business Days prior to the first day of such Interest Period for a term comparable to such Interest Period. If any Interest
Period is an Impacted Interest Period, then SGD shall be the Interpolated Rate for such Interest Period. SGD shall not be less than zero.

 

“Singapore Dollar”: the lawful
currency of the Republic of Singapore.

 

“Single Employer Plan”: any
Plan that is covered by Title IV of ERISA, but that is not a Multiemployer Plan.

 

“Subsidiary”: as to any Person,
a corporation, limited liability company, partnership or other entity of which shares of stock or other ownership interests having ordinary
voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to
elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or
the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless
otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a
Subsidiary or Subsidiaries of the Borrower.

 

    - 28 - 

     

    

 

“Supported QFC”: as defined
in subsection 13.21.

 

“Swiss Franc”: the lawful currency
of the Swiss Confederation.

 

“Target Operating Day”: any
day that is not (a) a Saturday or Sunday, (b) Christmas Day or New Year’s Day or (c) any other day on which the Trans-European
Real-time Gross Settlement Operating System (or any successor settlement system) is not operating (as determined by the Administrative
Agent).

 

“Taxes”: all present or future
taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments or other charges in the nature of
a tax imposed by any Governmental Authority, including any interest additions or penalties applicable thereto.

 

“Termination Date”: the later
of (a) May 10, 2026 and (b) if the maturity date is extended pursuant to subsection 2.20, such extended maturity
date as determined pursuant to such subsection; provided, however, that, in each case, if such date is not a Business Day,
the Termination Date shall be the next preceding Business Day.

 

“Tranche”: the collective reference
to Eurodollar Loans or Multicurrency Loans the then current Interest Periods with respect to all of which begin on the same date and end
on the same later date (whether or not such Loans shall originally have been made on the same day); Tranches may be identified as “Eurodollar
Tranches” or “Multicurrency Tranches”.

 

“Transactions”: the execution
and delivery of this Agreement and the delivery of a notice to terminate the Existing Credit Facilities.

 

“Transferee”: as defined in
subsection 13.6(f).

 

“Type”: as to any Revolving
Credit Loan, its nature as an ABR Loan or a Eurodollar Loan.

 

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

 

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

 

“Unadjusted
Benchmark Replacement”: with respect to a given Benchmark Replacement, such Benchmark Replacement excluding the Benchmark
Replacement Adjustment for such Benchmark Replacement.

 

“United States”: the United
States of America (including the states, commonwealths and territories thereof and the District of Columbia).

 

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

 

    - 29 - 

     

    

 

“U.S. Special Resolution Regimes ”:
as defined in subsection 13.21.

 

“U.S. Tax Compliance Certificate”:
as defined in subsection 3.10(c)(B)(iii).

 

“Wells Fargo”: Wells Fargo Bank,
National Association.

 

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

 

		1.2.	Other Definitional Provisions.

 

(a)            Unless
otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in any Notes or any certificate
or other document made or delivered pursuant hereto.

 

(b)           As
used herein and in any Notes, and any certificate or other document made or delivered pursuant hereto, accounting terms relating to the
Borrower and its Subsidiaries not defined in subsection 1.1 and accounting terms partly defined in subsection 1.1, to the
extent not defined, shall have the respective meanings given to them under GAAP.

 

(c)           The
words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall
refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, subsection, Schedule and Exhibit references
are to this Agreement unless otherwise specified.

 

(d)           The
meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms.

 

(e)           Computations
of amounts and ratios referred to herein shall be made without giving effect to any change in accounting for leases pursuant to GAAP resulting
from the implementation of Accounting Standards Update 2016-02, Leases (Topic 842) issued February 2016, as amended from time to
time.

 

SECTION 2

 

AMOUNT
AND TERMS OF COMMITMENTS

 

		2.1.	Revolving Credit Commitments.

 

(a)           Subject
to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Credit
Loans”) in Dollars to the Borrower from time to time during the Commitment Period so long as after giving effect thereto (i) the
Available Revolving Credit Commitment of each Revolving Lender is greater than or equal to zero and (ii) the Aggregate Total Outstandings
of all Lenders do not exceed the Aggregate Revolving Credit Commitments. During the Commitment Period, the Borrower may use the Revolving
Credit Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the
terms and conditions hereof.

 

    - 30 - 

     

    

 

 

(b)            The
Revolving Credit Loans may from time to time be (i) Eurodollar Loans, (ii) ABR Loans or (iii) a combination thereof, as
determined by the Borrower and notified to the Administrative Agent in accordance with subsections 2.2 and 3.2, provided
that no Revolving Credit Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Termination Date.

 

2.2.          Procedure
for Revolving Credit Borrowing. The Borrower may borrow under the Revolving Credit Commitments during the Commitment Period on any
Business Day, provided that the Borrower shall give the Administrative Agent irrevocable notice (which notice must be received by the
Administrative Agent prior to (x) with respect to Eurodollar Loans, 10:00 A.M., New York City time, or (y) with respect to
ABR Loans, 1:00 P.M., New York City time: (a) three Business Days prior to the requested Borrowing Date, if all or any part of the
requested Revolving Credit Loans are to be initially Eurodollar Loans or (b) on the requested Borrowing Date, otherwise), in each
case specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be
of Eurodollar Loans, ABR Loans or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans,
the amount of such Type of Loan and the length of the initial Interest Period therefor. Each borrowing under the Revolving Credit Commitments
(other than a borrowing under subsections 2.16 and 5.5) shall be in an amount equal to (x) in the case of ABR Loans,
$5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if the Aggregate Available Revolving Credit Commitments are less
than $1,000,000, such lesser amount) and (y) in the case of Eurodollar Loans, $5,000,000 or a whole multiple of $1,000,000 in excess
thereof. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof.
Prior to (x) with respect to Eurodollar Loans, 11:00 A.M., New York City time, or (y) with respect to ABR Loans, 2:00 P.M.,
New York City time, on the Borrowing Date requested by the Borrower, each Revolving Lender will make an amount equal to its Funding Commitment
Percentage of the principal amount of the Revolving Credit Loans requested to be made on such Borrowing Date available to the Administrative
Agent for the account of the Borrower at the office of the Administrative Agent specified in writing by the Administrative Agent to the
Lenders in funds immediately available to the Administrative Agent. Except as otherwise provided in subsection 2.16, such borrowing
will then be made available to the Borrower by the Administrative Agent crediting the account of the Borrower with the aggregate of the
amounts made available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent.

 

		2.3.	Reserved.

 

		2.4.	Reserved.

 

		2.5.	Fees.

 

(a)           Facility
Fee. The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a facility fee for the period
from and including the Fee Commencement Date to the Termination Date computed at the Facility Fee Rate on the actual daily amount of the
Revolving Credit Commitment of such Revolving Lender (regardless of usage and, following terminating the Revolving Credit Commitments,
on the actual daily amount of the Aggregate Total Outstandings of such Revolving Lender) during the period for which payment is made,
subject to adjustment as provided in subsection 2.19 and payable quarterly in arrears on the last day of each March, June, September and
December, subject to the provisions of subsection 3.7, and on the Termination Date or such earlier date on which the Revolving
Credit Commitments shall terminate as provided herein, commencing on the first of such dates to occur after the date hereof.

 

    - 31 - 

     

    

 

(b)            Agency
Fee Letter. The Borrower agrees to pay to the Administrative Agent the fees in the amounts and on the dates set forth in the Agency
Fee Letter.

 

2.6.          Termination
or Reduction of Revolving Credit Commitments. The Borrower shall have the right, upon not less than three Business Days’ notice
to the Administrative Agent, to terminate the Revolving Credit Commitments or, from time to time, to reduce the amount of the Revolving
Credit Commitments; provided that no such termination or reduction shall be permitted if, after giving effect thereto and to any
prepayments of the Loans made on the effective date thereof, either (a) the Aggregate Available Revolving Credit Commitments would
not be greater than or equal to zero or (b) the Available Revolving Credit Commitments of any Revolving Lender would not be greater
than or equal to zero; provided further that such notice delivered by the Borrower may state that such notice is conditioned
upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative
Agent on or prior to the specified effective date) if such condition is not satisfied. Any such reduction shall be in an amount equal
to $5,000,000 or a whole multiple thereof and shall reduce permanently the Revolving Credit Commitments then in effect. The Administrative
Agent shall give each Revolving Lender prompt notice of any notice received from the Borrower pursuant to this subsection 2.6.

 

2.7.          Repayment
of Loans. The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Revolving Lender
the then unpaid principal amount of each Revolving Credit Loan of such Lender on the Termination Date (or such earlier date on which
the Revolving Credit Loans become due and payable pursuant to Section 10). The Borrower hereby further agrees to pay interest
on the unpaid principal amount of the Revolving Credit Loans from time to time outstanding from the date hereof until payment in full
thereof at the rates per annum, and on the dates, set forth in subsection 3.4.

 

2.8.          CAF
Advances. Subject to the terms and conditions of this Agreement, the Borrower may borrow CAF Advances from time to time on any Business
Day during the CAF Advance Availability Period. LIBO Rate CAF Advances may be denominated in Dollars or a lawful eurocurrency that is
(x) readily available and freely transferable and convertible into dollars, (y) available in the London interbank deposit market
and (z) agreed to by the Administrative Agent and the bidding Lender. CAF Advances may be borrowed in amounts such that the amount
of Aggregate Total Outstandings of all Lenders at any time shall not exceed the Aggregate Revolving Credit Commitments at such time.
Within the limits and on the conditions hereinafter set forth with respect to CAF Advances, the Borrower from time to time may borrow,
repay and request new CAF Advances.

 

2.9.          Procedure
for CAF Advance Borrowing.

 

(a)            The
Borrower shall request CAF Advances by delivering a CAF Advance Request to the Administrative Agent, not later than 11:00 AM (New York
City time, or in the case of a LIBO CAF Advance Request for any non-Dollar currency, London time) five Business Days prior to the proposed
Borrowing Date (in the case of a LIBO Rate CAF Advance Request), and not later than 10:00 AM. (New York City time) one Business Day prior
to the proposed Borrowing Date (in the case of a Fixed Rate CAF Advance Request). Each CAF Advance Request in respect of any Borrowing
Date may solicit bids for CAF Advances on such Borrowing Date in an aggregate principal amount of $5,000,000 or an integral multiple of
$1,000,000 in excess thereof (or, in the case of CAF Advances to be denominated in a currency other than Dollars, an amount in such currency
the Dollar Equivalent of which is equal to $5,000,000 or $1,000,000, as the case may be) and having not more than three alternative CAF
Advance Maturity Dates. The CAF Advance Maturity Date for each CAF Advance shall be the date set forth therefor in the relevant CAF Advance
Request, which date shall be (i) not less than 7 days nor more than 360 days after the Borrowing Date therefor, in the case of a
Fixed Rate CAF Advance, (ii) not less than 30 days nor more than 360 days after the Borrowing Date therefor, in the case of a LIBO
Rate CAF Advance and (iii) not later than the Termination Date, in the case of any CAF Advance. The Administrative Agent shall notify
each Revolving Lender promptly by facsimile transmission of the contents of each CAF Advance Request received by the Administrative Agent.

 

    - 32 - 

     

    

 

(b)            In
the case of a LIBO Rate CAF Advance Request, upon receipt of notice from the Administrative Agent of the contents of such CAF Advance
Request, each Revolving Lender may elect, in its sole discretion, to offer irrevocably to make one or more CAF Advances at the applicable
Eurocurrency Rate plus (or minus) a margin determined by such Revolving Lender in its sole discretion for each such CAF Advance.
Any such irrevocable offer shall be made by delivering a CAF Advance Offer to the Administrative Agent, before 10:30 A.M. (New York
City time) on the day that is three Business Days before the proposed Borrowing Date, setting forth:

 

(i)            the
maximum amount of CAF Advances for each CAF Advance Maturity Date and the aggregate maximum amount of CAF Advances for all CAF Advance
Maturity Dates which such Revolving Lender would be willing to make (which amounts may, subject to subsection 2.8, exceed such
Lender’s Revolving Credit Commitment); and

 

(ii)           the
margin above or below the applicable Eurocurrency Rate at which such Revolving Lender is willing to make each such CAF Advance.

 

The Administrative Agent shall advise the Borrower before 11:00 A.M. (New
York City time) on the date which is three Business Days before the proposed Borrowing Date of the contents of each such CAF Advance Offer
received by it. If the Administrative Agent, in its capacity as a Revolving Lender, shall elect, in its sole discretion, to make any such
CAF Advance Offer, it shall advise the Borrower of the contents of its CAF Advance Offer before 10:15 A.M. (New York City time) on
the date which is three Business Days before the proposed Borrowing Date.

 

(c)            In
the case of a Fixed Rate CAF Advance Request, upon receipt of notice from the Administrative Agent of the contents of such CAF Advance
Request, each Revolving Lender may elect, in its sole discretion, to offer irrevocably to make one or more CAF Advances at a rate of interest
determined by such Revolving Lender in its sole discretion for each such CAF Advance. Any such irrevocable offer shall be made by delivering
a CAF Advance Offer to the Administrative Agent before 9:30 A.M. (New York City time) on the Borrowing Date, setting forth:

 

(i)            the
maximum amount of CAF Advances for each CAF Advance Maturity Date, and the aggregate maximum amount for all CAF Advance Maturity Dates,
which such Lender would be willing to make (which amounts may, subject to subsection 2.8, exceed such Revolving Lender’s
Revolving Credit Commitment); and

 

(ii)           the
rate of interest at which such Revolving Lender is willing to make each such CAF Advance.

 

The Administrative Agent shall advise the Borrower before 10:00 A.M. (New
York City time) on the proposed Borrowing Date of the contents of each such CAF Advance Offer received by it. If the Administrative Agent,
in its capacity as a Revolving Lender, shall elect, in its sole discretion, to make any such CAF Advance Offer, it shall advise the Borrower
of the contents of its CAF Advance Offer before 9:15 A.M. (New York City time) on the proposed Borrowing Date.

 

    - 33 - 

     

    

 

(d)            Before
11:30 A.M. (New York City time, or in the case of a CAF Advance requested by a LIBO Rate CAF Advance Request for any non-Dollar currency,
London time) three Business Days before the proposed Borrowing Date (in the case of CAF Advances requested by a LIBO Rate CAF Advance
Request) and before 10:30 A.M. (New York City time) on the proposed Borrowing Date (in the case of CAF Advances requested by a Fixed
Rate CAF Advance Request), the Borrower, in its absolute discretion, shall:

 

(i)            cancel
such CAF Advance Request by giving the Administrative Agent telephone notice to that effect, or

 

(ii)           by
giving telephone notice to the Administrative Agent (immediately confirmed by delivery to the Administrative Agent of a CAF Advance Confirmation
by facsimile transmission) (A) subject to the provisions of subsection 2.9(e), accept one or more of the offers made by any
Revolving Lender or Revolving Lenders pursuant to subsection 2.9(b) or subsection 2.9(c), as the case may be, and (B) reject
any remaining offers made by Revolving Lenders pursuant to subsection 2.9(b) or subsection 2.9(c), as the case may
be.

 

(e)            The
Borrower’s acceptance of CAF Advances in response to any CAF Advance Offer shall be subject to the following limitations:

 

(i)            the
amount of CAF Advances accepted for each CAF Advance Maturity Date specified by any Revolving Lender in its CAF Advance Offer shall not
exceed the maximum amount for such CAF Advance Maturity Date specified in such CAF Advance Offer;

 

(ii)           the
aggregate amount of CAF Advances accepted for all CAF Advance Maturity Dates specified by any Revolving Lender in its CAF Advance Offer
shall not exceed the aggregate maximum amount specified in such CAF Advance Offer for all such CAF Advance Maturity Dates;

 

(iii)          the
Borrower may not accept offers for CAF Advances for any CAF Advance Maturity Date in an aggregate principal amount in excess of the maximum
principal amount requested in the related CAF Advance Request; and

 

(iv)          if
the Borrower accepts any of such offers, it must accept offers based solely upon pricing for each relevant CAF Advance Maturity Date and
upon no other criteria whatsoever, and if two or more Revolving Lenders submit offers for any CAF Advance Maturity Date at identical pricing
and the Borrower accepts any of such offers but does not wish to (or, by reason of the limitations set forth in subsection 2.8,
cannot) borrow the total amount offered by such Revolving Lenders with such identical pricing, the Borrower shall accept offers from all
of such Revolving Lenders in amounts allocated among them pro rata according to the amounts offered by such Lenders (with appropriate
rounding, in the sole discretion of the Borrower, to assure that each accepted CAF Advance is an integral multiple of $1,000,000 or, in
the case of CAF Advances to be denominated in a currency other than Dollars, an amount in such currency the Dollar Equivalent of which
is approximately equal to $1,000,000); provided that if the number of Revolving Lenders that submit offers for any CAF Advance
Maturity Date at identical pricing is such that, after the Borrower accepts such offers pro rata in accordance with the foregoing provisions
of this paragraph, the CAF Advance to be made by any such Revolving Lender would be less than $5,000,000 (or, in the case of CAF Advances
to be denominated in a currency other than Dollars, an amount in such currency the Dollar Equivalent of which is approximately equal to
$5,000,000) principal amount, the number of such Revolving Lenders shall be reduced by the Administrative Agent by lot until the CAF Advances
to be made by each such remaining Revolving Lender would be in a principal amount of $5,000,000 or an integral multiple of $1,000,000
in excess thereof (or, in the case of CAF Advances to be denominated in a currency other than Dollars, an amount in such currency the
Dollar Equivalent of which is approximately equal to $5,000,000 or an integral multiple of $1,000,000 in excess thereof).

 

    - 34 - 

     

    

 

(f)             If
the Borrower notifies the Administrative Agent that a CAF Advance Request is cancelled pursuant to subsection 2.9(d)(i), the Administrative
Agent shall give prompt telephonic or written notice thereof to the Revolving Lenders.

 

(g)            If
the Borrower accepts pursuant to subsection 2.9(d)(ii) one or more of the offers made by any Revolving Lender or Revolving
Lenders, the Administrative Agent promptly shall notify each Revolving Lender which has made such an offer of (i) the aggregate amount
of such CAF Advances to be made on such Borrowing Date for each CAF Advance Maturity Date and (ii) the acceptance or rejection of
any offers to make such CAF Advances made by such Revolving Lender. Before 12:00 Noon (New York City time) on the Borrowing Date specified
in the applicable CAF Advance Request (in the case of CAF Advances denominated in Dollars) and before the funding time for the relevant
currency from time to time specified by the Administrative Agent by notice to the Revolving Lenders (in the case of CAF Advances denominated
in any currency other than Dollars), each Revolving Lender whose CAF Advance Offer has been accepted shall make available to the Administrative
Agent the amount of CAF Advances to be made by such Revolving Lender, in immediately available funds, at the funding office for the relevant
currency specified from time to time by the Administrative Agent by notice to the Revolving Lenders. The Administrative Agent will make
such funds available to the Borrower as soon as practicable on such date at such office of the Administrative Agent. As soon as practicable
after each Borrowing Date, the Administrative Agent shall notify each Revolving Lender of the aggregate amount of CAF Advances advanced
on such Borrowing Date and the respective CAF Advance Maturity Dates thereof.

 

2.10.        Repayment
of CAF Advances. The Borrower hereby unconditionally promises to pay to the Administrative Agent, for the account of each Revolving
Lender which has made a CAF Advance, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance.
The Borrower shall have the right to prepay any principal amount of any CAF Advance only with the consent of the Revolving Lender to
which such CAF Advance is owed. The Borrower hereby further agrees to pay interest on the unpaid principal amount of each CAF Advance
from the Borrowing Date to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted
by the Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each
applicable CAF Advance Interest Payment Date.

 

2.11.        Certain
Restrictions with Respect to CAF Advances. A CAF Advance Request may request offers for CAF Advances to be made on not more than
one Borrowing Date and to mature on not more than three CAF Advance Maturity Dates. No CAF Advance Request may be submitted earlier than
five Business Days after submission of any other CAF Advance Request.

 

2.12.        Multicurrency
Commitments. Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make revolving credit loans
(each, a “Multicurrency Loan”) in any Available Foreign Currency to the Borrower from time to time during the Commitment
Period so long as after giving effect thereto (a) the Available Multicurrency Commitment of each Multicurrency Lender is greater
than or equal to zero, (b) the aggregate outstanding principal amount of Multicurrency Loans, plus (i) the aggregate
outstanding principal amount of Local Currency Loans and (ii) the aggregate outstanding amount of L/C Obligations attributable to
Letters of Credit denominated in any currency other than Dollars, does not exceed an amount the Dollar Equivalent of which is the Multicurrency
Sublimit and (c) the Aggregate Total Outstandings of all Lenders do not exceed the Aggregate Revolving Credit Commitments. During
the Commitment Period, the Borrower may use the Multicurrency Commitments by borrowing, repaying the Multicurrency Loans in whole or
in part, and reborrowing, all in accordance with the terms and conditions hereof. Any Multicurrency Lender may cause its Multicurrency
Loans to be made by any branch, affiliate or international banking facility of such Multicurrency Lender, provided, that such
Multicurrency Lender shall remain responsible for all of its obligations hereunder and no additional taxes, costs or other burdens shall
be imposed upon the Borrower or the Administrative Agent as a result thereof.

 

    - 35 - 

     

    

 

2.13.        Repayment
of Multicurrency Loans. The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Multicurrency
Lender the then unpaid principal amount of each Multicurrency Loan of such Multicurrency Lender on the Termination Date and on such other
date(s) and in such other amounts as may be required from time to time pursuant to this Agreement. The Borrower hereby further agrees
to pay interest on the unpaid principal amount of the Multicurrency Loans advanced to it and from time to time outstanding until payment
thereof in full at the rates per annum, and on the dates, set forth in subsection 3.4.

 

2.14.        Procedure
for Multicurrency Borrowing. The Borrower may request the Multicurrency Lenders to make Multicurrency Loans during the Commitment
Period on any Business Day by delivering a Notice of Multicurrency Loan Borrowing. Each borrowing under the Multicurrency Commitments
shall be in an amount in an Available Foreign Currency the Dollar Equivalent of which is equal to at least $1,000,000 (or, if the then
Aggregate Available Multicurrency Commitments are less than $1,000,000, such lesser amount). Upon receipt of any such Notice of Multicurrency
Borrowing from the Borrower, the Administrative Agent shall promptly notify each Multicurrency Lender thereof. Not later than the funding
time, on the applicable Borrowing Date, for the relevant Available Foreign Currency specified from time to time by the Administrative
Agent by notice to the Borrower and the Multicurrency Lenders each Multicurrency Lender shall make an amount equal to its Multicurrency
Commitment Percentage of the principal amount of Multicurrency Loans requested to be made on such Borrowing Date available to the Administrative
Agent at the appropriate funding office for the relevant Available Foreign Currency specified from time to time by the Administrative
Agent by notice to the Borrower and the Multicurrency Lenders in the relevant Available Foreign Currency and in immediately available
funds; provided that, unless and until the Administrative Agent shall otherwise direct, any Multicurrency Lender may provide funds
in the then applicable Dollar Equivalent (including an exchange fee and other normal and customary fees for providing this service as
determined by the Administrative Agent in its sole discretion) thereof in lieu of the requested currency, so long as the Multicurrency
Lender has given reasonable notice to the Administrative Agent of its desire and intent to so provide funds therefor promptly after (but
in any event within one hour of) its receipt of any such notice for a Multicurrency Loan. The amounts made available by each Multicurrency
Lender will then be made available to the Borrower at such funding office and in like funds as received by the Administrative Agent;
provided, in the case of Multicurrency Loans for which any Lender has provided funds in Dollars, the Administrative Agent shall
provide such funds to the applicable Borrower in the requested currency.

 

2.15.        Termination
or Reduction of Multicurrency Commitments. The Borrower shall have the right, upon not less than three Business Days’ notice
to the Administrative Agent (which shall give prompt notice thereof to each Multicurrency Lender), to terminate the Multicurrency Commitments
or, from time to time, to reduce the amount of the Multicurrency Commitments; provided that no such termination or reduction shall
be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof, the Available Multicurrency
Commitment of any Multicurrency Lender would be less than zero. Any such reduction shall be in an amount equal to U.S. $1,000,000 or
a whole multiple of U.S. $100,000 in excess thereof and shall reduce permanently the Multicurrency Commitments then in effect; provided
further that such notice delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other
credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the
specified effective date) if such condition is not satisfied.

 

    - 36 - 

     

    

 

		2.16.	Borrowings of Revolving Credit Loans and Refunding of Loans.

 

(a)           If
on any Borrowing Date on which the Borrower has requested the Multicurrency Lenders to make Multicurrency Loans (the “Requested
Multicurrency Loans”),

 

(i)            the
aggregate principal amount of the Requested Multicurrency Loans exceeds the Aggregate Available Multicurrency Commitments on such Borrowing
Date (before giving effect to the making and payment of any Loans required to be made pursuant to this subsection 2.16 on such
Borrowing Date) and,

 

(ii)           the
Dollar Equivalent of the amount of such excess is less than or equal to the aggregate Available Revolving Credit Commitments of all Non-Multicurrency
Lenders (before giving effect to the making and payment of any Loans pursuant to this subsection 2.16 on such Borrowing Date),

 

each Non-Multicurrency Lender shall make a Revolving Credit Loan to
the Borrower on such Borrowing Date, and the proceeds of such Revolving Credit Loans shall be simultaneously applied to repay outstanding
Revolving Credit Loans, Local Currency Loans and/or Multicurrency Loans of the Multicurrency Lenders (as directed by the Borrower) in
each case in amounts such that, after giving effect to (1) such borrowings and repayments and (2) the borrowing from the Multicurrency
Lenders of the Requested Multicurrency Loans, the Committed Outstanding Percentage of each Lender will equal (as nearly as possible) its
Revolving Credit Commitment Percentage. To effect such borrowings and repayments, (x) not later than 12:00 Noon, New York City time,
on such Borrowing Date, the proceeds of such Revolving Credit Loans shall be made available by each Non-Multicurrency Lender to the Administrative
Agent at its office specified in subsection 13.2 in Dollars and in immediately available funds and the Administrative Agent shall
apply the proceeds of such Revolving Credit Loans toward repayment of outstanding Revolving Credit Loans, Multicurrency Loans and/or Local
Currency Loans of the Multicurrency Lenders (as directed by the Borrower) and (y) concurrently with the repayment of such Loans on
such Borrowing Date, (I) the Multicurrency Lenders shall, in accordance with the applicable provisions hereof, make the Requested
Multicurrency Loans in an aggregate amount equal to the amount so requested by the Borrower (but not in any event greater than the Aggregate
Available Multicurrency Commitments after giving effect to the making of such repayment of any Loans on such Borrowing Date) and (II) the
Borrower shall pay to the Administrative Agent for the account of the Lenders whose Loans to the Borrower are repaid on such Borrowing
Date pursuant to this subsection 2.16 all interest accrued on the amounts repaid to the date of repayment, together with any amounts
payable pursuant to subsection 3.11 in connection with such repayment.

 

(b)            Subject
to the limitations on borrowings contained in a given Local Currency Facility, if on any Borrowing Date on which a Foreign Subsidiary
Borrower has requested Local Currency Lenders to make Local Currency Loans (the “Requested Local Currency Loans”) under
a Local Currency Facility to which such Foreign Subsidiary Borrower and Local Currency Lenders are parties, (i) the aggregate principal
amount of the Requested Local Currency Loans (A) exceeds the aggregate available amount of the commitments of such Local Currency
Lenders under such Local Currency Facility on such Borrowing Date (before giving effect to the making and payment of any Revolving Credit
Loans required to be made pursuant to this subsection 2.16 on such Borrowing Date) or (B) together with the aggregate then
outstanding principal amount of Multicurrency Loans and the aggregate outstanding amount of L/C Obligations attributable to Letters of
Credit denominated in any currency other than Dollars, would exceed an amount of which the Dollar Equivalent is the Multicurrency Sublimit,
(ii) after giving effect to the Requested Local Currency Loans, the Dollar Equivalent of the aggregate outstanding principal amount
of Local Currency Loans of such Foreign Subsidiary Borrower will be less than or equal to the aggregate commitments of such Local Currency
Lenders under such Local Currency Facility and (iii) the Dollar Equivalent of the amount of the excess described in clause (i) above
is less than or equal to the Aggregate Available Revolving Credit Commitments of all Revolving Lenders other than such Local Currency
Lenders (before giving effect to the making and payment of any Revolving Credit Loans pursuant to this subsection 2.16 on such
Borrowing Date), each such other Revolving Lender shall make a Revolving Credit Loan to the Borrower, on such Borrowing Date, and the
proceeds of such Revolving Credit Loans shall be simultaneously applied to repay outstanding Revolving Credit Loans, Multicurrency Loans
and/or Local Currency Loans of such Local Currency Lenders (as directed by the Borrower) in each case in amounts such that, after giving
effect to (1) such borrowings and repayments and (2) the borrowing from such Local Currency Lenders of the Requested Local Currency
Loans, the Committed Outstandings Percentage of each Lender will equal (as nearly as possible) its Revolving Credit Commitment Percentage
and the Dollar Equivalent of the aggregate outstanding principal amount of Multicurrency Loans and Local Currency Loans will not exceed
the Multicurrency Sublimit. To effect such borrowings and repayments, (x) not later than 12:00 Noon, New York City time, on such
Borrowing Date, the proceeds of such Revolving Credit Loans shall be made available by each such other Revolving Lender to the Administrative
Agent at its office specified in subsection 13.2 in Dollars and in immediately available funds and the Administrative Agent shall
apply the proceeds of such Revolving Credit Loans toward the repayment of outstanding Revolving Credit Loans, Multicurrency Loans and/or
Local Currency Loans of such Local Currency Lenders (as directed by the Borrower) and (y) concurrently with the repayment of such
Revolving Credit Loans on such Borrowing Date, (I) such Local Currency Lenders shall, in accordance with the applicable provisions
hereof, make the Requested Local Currency Loans in an aggregate amount equal to the amount so requested by such Foreign Subsidiary Borrower
and (II) the relevant Foreign Subsidiary Borrower shall pay to the Administrative Agent for the account of the Revolving Lenders
whose Loans to such Foreign Subsidiary Borrower are repaid on such Borrowing Date pursuant to this subsection 2.16 all interest
accrued on the amounts repaid to the date of repayment, together with any amounts payable pursuant to subsection 3.11 in connection
with such repayment.

 

    - 37 - 

     

    

 

(c)            If
any borrowing of Revolving Credit Loans is required pursuant to this subsection 2.16, the Borrower shall notify the Administrative
Agent in the manner provided for Revolving Credit Loans in subsection 2.2, except that the minimum borrowing amounts set forth
in subsection 2.2 shall not be applicable to the extent that such minimum borrowing amounts exceed the amounts of Revolving Credit
Loans required to be made pursuant to this subsection 2.16.

 

2.17.        Increase
of Revolving Credit Commitments. The Borrower shall have the right to increase the Revolving Credit Commitments from time to time
in an aggregate principal amount not to exceed $500,000,000 upon prior notice to the Administrative Agent and pursuant to procedures
established by the Administrative Agent and acceptable to the Borrower. Each such increase (each, an “Additional Revolving Credit
Commitment”) shall be in a principal amount of at least $25,000,000, and no such increase shall become effective (i) if
a Default or Event of Default then exists or would exist immediately after giving effect thereto and (ii) unless all representations
and warranties made by the Borrower required to be made pursuant to subsection 7.2 in this Agreement and the other Loan Documents
are true in all material respects as of the date of such increase. Each bank or other financial institution (other than an existing Lender
or Lender Affiliate providing any Additional Revolving Credit Commitments) shall be reasonably acceptable to the Administrative Agent
and the Borrower and shall be a “Lender” for all purposes under this Agreement. No Lender shall have any obligation to provide
any such Additional Revolving Credit Commitments unless and until it shall expressly agree under the applicable procedures to do so,
at which time such Lender shall be deemed to have made an Additional Revolving Credit Commitment. The Lenders agree that this Agreement
and the other Loan Documents may be amended from time to time with the consent of the Administrative Agent and the Borrower to reflect
such Additional Revolving Credit Commitments in connection with this subsection 2.17.

 

    - 38 - 

     

    

 

		2.18.	Cash Collateral.

 

(a)           At
any time that (i) there shall exist a Defaulting Lender and (ii) the Rating provided by (x) S&P is less than BBB or
(y) Moody’s is less than Baa2, within twenty Business Days after receipt of the written request of the Administrative Agent
or the Issuing Lender, the Borrower shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting
Exposure (after giving effect to subsection 2.19(a)(iv) and any Cash Collateral provided by the Defaulting Lender); provided
however, notwithstanding the foregoing, in lieu of providing Cash Collateral to cover all or a portion of the Fronting Exposure, at
any time within twenty Business Days after the receipt of written request of the Administrative Agent or the Issuing Lender, the Borrower
(but only to the extent necessary to cover Fronting Exposure which is not covered by Cash Collateral) (i) may request that all or
a portion of the Revolving Credit Commitments of such Defaulting Lender be re-allocated to another Lender or Lenders (as acceptable to
each Lender in its sole discretion) or (ii) shall have the option to exercise its right to increase the Revolving Credit Commitments
under subsection 2.17 by obtaining Additional Revolving Credit Commitments from one or more financial institutions (which
may be a Lender) in an amount to cover all or a portion of the Fronting Exposure; provided further that the only limitation applicable
to such exercise shall be that the aggregate amount of such increases pursuant to Section 2.17 shall not exceed $500,000,000.

 

(b)            All
Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked, interest bearing
deposit accounts at the Administrative Agent. The Borrower, and to the extent provided by any Lender, such Lender, hereby grants to (and
subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Lender and the Lenders,
and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other
property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which
such Cash Collateral may be applied pursuant to subsection 2.18(c). If at any time the Administrative Agent reasonably determines
that Cash Collateral is subject to any right or claim of any Person that is prior to the claim of the Administrative Agent as herein
provided, or that the total amount of such Cash Collateral is less than the applicable Fronting Exposure and other obligations secured
thereby, the Borrower or the relevant Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide to the
Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency.

 

(c)            Notwithstanding
anything to the contrary contained in this Agreement, Cash Collateral provided under any of this subsection 2.18, subsection
5.1 or 2.19 or Section 10 in respect of Letters of Credit shall be held and applied to the satisfaction of the
specific L/C Obligations, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender,
any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application
of such property as may be provided for herein.

 

(d)            Cash
Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or other obligations shall be released promptly
following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination
of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance with subsection 13.6))
or (ii) the Administrative Agent’s good faith determination that there exists excess Cash Collateral; provided, however,
(x) that Cash Collateral furnished by or on behalf the Borrower shall not be released during the continuance of an Event of Default
(and following application as provided in this subsection 2.18 may be otherwise applied in accordance with Section 10),
and (y) the Person providing Cash Collateral and the Issuing Lender, as applicable, may agree that Cash Collateral shall not be
released but instead held to support Fronting Exposure or other obligations with respect to requested but unfunded extensions of credit.

 

    - 39 - 

     

    

 

		2.19.	Defaulting Lenders.

 

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

 

(i)            That
Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted
as set forth in subsection 13.1.

 

(ii)          Any
payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of that Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Section 10 or otherwise, and including any amounts made available
to the Administrative Agent by that Defaulting Lender pursuant to subsection 13.7), shall be applied at such time or times as
may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that Defaulting Lender
to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by that Defaulting Lender
to the Issuing Lender hereunder; third, if so determined by the Administrative Agent or requested by the Issuing Lender, to be
held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Letter of Credit; fourth,
as the Borrower may request (so long as no Event of Default exists), to the funding of any Loan in respect of which that Defaulting Lender
has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so
determined by the Administrative Agent and the Borrower, to be held in an interest bearing deposit account and released in order to satisfy
obligations of that Defaulting Lender to fund Loans under this Agreement; sixth, to the payment of any amounts owing to the Lenders
or the Issuing Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender or the Issuing Lender against
that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh,
so long as no Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of
competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of
its obligations under this Agreement; and eighth, to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction;
provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Obligations in respect of which that
Defaulting Lender has not fully funded its appropriate share and (y) such Loans or L/C Obligations were made at a time when the
conditions set forth in subsection 7.2 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and
L/C Obligations owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C
Obligations owed to, that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are
applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this subsection 2.19(a)(ii) shall
be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents to the foregoing.

 

(iii)         That
Defaulting Lender (x) shall be entitled to receive any facility fee pursuant to subsection 2.5(a) for any period during
which that Lender is a Defaulting Lender only to extent allocable to the sum of (1) the Dollar Equivalent of the principal amount
of the Loans funded by it and (2) its Revolving Credit Commitment Percentage of the stated amount of Letters of Credit for which
it has provided Cash Collateral pursuant to subsection 2.14, 2.19(a)(ii) or 5.1, as applicable (and the Borrower
shall (A) be required to pay to the Issuing Lender, as applicable, the amount of such fee allocable to its Fronting Exposure arising
from that Defaulting Lender and (B) not be required to pay the remaining amount of such fee that otherwise would have been required
to have been paid to that Defaulting Lender) and (y) shall be limited in its right to receive Letter of Credit fees as provided
in subsection 5.3(a).

 

    - 40 - 

     

    

 

(iv)         During
any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender
to acquire, refinance or fund participations in Letters of Credit pursuant to subsections 5.1 and 5.4(a), the “Revolving
Credit Commitment Percentage” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment
of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable
Lender becomes a Defaulting Lender, no Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender
to acquire, refinance or fund participations in Letters of Credit shall not exceed the positive difference, if any, of (1) the Revolving
Credit Commitment of that non-Defaulting Lender minus (2) the Dollar Equivalent of the principal amount of the Loans of that
Lender.

 

(b)            If
the Borrower, the Administrative Agent and the Issuing Lender agree in writing that a Defaulting Lender should no longer be deemed to
be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such
notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender
will, to the extent applicable, purchase that portion of outstanding Revolving Credit Loans of the other Lenders or take such other actions
as the Administrative Agent may determine to be necessary to cause the Revolving Credit Loans and funded and unfunded participations
in Letters of Credit to be held on a pro rata basis by the Revolving Lenders in accordance with their Revolving Credit Commitment Percentages
(without giving effect to subsection 2.19(a)(iv)), whereupon that Lender will cease to be a Defaulting Lender; provided
that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that
Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected
parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder
arising from that Lender’s having been a Defaulting Lender.

 

(c)            If
any Lender is a Defaulting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Defaulting Lender and the
Administrative Agent, require such Defaulting Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in, and consents required by, subsection 13.6), 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:

 

(i)            the
Borrower shall have paid to the Administrative Agent the assignment fee specified in subsection 13.6;

 

(ii)           such
Defaulting Lender shall have received payment of an amount equal to 100% of 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 subsection
3.11) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of
all other amounts);

 

(iii)          such
assignment does not conflict with applicable laws; and

 

(iv)          such
Defaulting Lender shall not be required to sign and deliver any assignment form in order for such assignment to become effective.

 

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.

 

    - 41 - 

     

    

 

		2.20.	Extension of Termination Date.

 

(a)           The
Borrower may, by sending an Extension Request to the Administrative Agent (in which case the Administrative Agent shall promptly deliver
a copy to each of the Lenders), at least three months in advance of the Termination Date in effect at such time (including at any time
prior thereto on or after any anniversary of the Closing Date), request that the Lenders extend such Termination Date then in effect to
the first anniversary of the Termination Date then in effect. Each Lender, acting in its sole discretion, shall, by notice to the Administrative
Agent given not later than the date that is the 20th day after the date of the Extension Request, or if such day is not a Business
Day, the immediately following Business Day (the “Response Date”) advise the Administrative Agent in writing whether
or not such Lender agrees to such extension (each Lender that so advises the Administrative Agent that it will not extend the Termination
Date, being referred to herein as a “Non-extending Lender”); provided that any Lender that does not advise the
Administrative Agent by the Response Date and any Defaulting Lender shall be deemed to be a Non-extending Lender. The election of any
Lender to agree to such extension shall not obligate any other Lender to agree.

 

(b)            (i) If,
on the Response Date, Lenders holding Revolving Credit Commitments that aggregate to 50% or more of the total Revolving Credit Commitments
shall not have agreed to extend the Termination Date, then such Termination Date shall not be so extended and the outstanding principal
balance of all Loans and other amounts payable hereunder shall be payable on such Termination Date.

 

(ii)           If
(and only if), on the Response Date, Lenders holding Revolving Credit Commitments that aggregate to more than 50% of the total Revolving
Credit Commitments shall have agreed to extend the Termination Date, then the Termination Date that shall so have agreed shall be the
first anniversary of the current Termination Date (subject to satisfaction of the conditions set forth in subsection 2.20(d)).
In the event of such extension, the Revolving Credit Commitment of each Non-extending Lender shall terminate on the Termination Date in
effect prior to such extension, all Loans and other amounts payable hereunder to such Non-extending Lenders shall become due and payable
on such Termination Date and the total Revolving Credit Commitments of the Lenders hereunder shall be reduced by the Revolving Credit
Commitments of the Non-extending Lenders so terminated on such Termination Date.

 

(c)            In
the event that the conditions of clause (ii) of paragraph (b) above have been satisfied, the Borrower shall
have the right on or before the Termination Date in effect prior to the requested extension, at its own expense, to require any Non-extending
Lender to transfer and assign without recourse (in accordance with and subject to the restrictions contained in subsection 13.6)
all its interests, rights and obligations under this Agreement to one or more banks or other financial institutions identified to the
Non-extending Lender, which may include any Lender (each an “Additional Lender”), provided that (w) such
Additional Lender, if not already a Lender hereunder, shall be subject to the approval of the Administrative Agent, the Issuing Lender
and the Borrower (such approvals not to be unreasonably withheld), (x) such assignment shall become effective as of a date specified
by the Borrower (which shall not be later than the Termination Date in effect prior to the requested extension); (y) the Additional
Lender shall pay to such Non-extending Lender in immediately available funds on the effective date of such assignment the principal of
and interest accrued to the date of payment on the Loans made by it hereunder and all other amounts accrued for its account or owed to
it hereunder and (z) such Non-extending Lender shall not be required to sign and deliver any assignment form in order for such assignment
to become effective.

 

(d)            As
a condition precedent to each such extension, the Borrower shall deliver to the Administrative Agent a certificate of the Borrower dated
as of the Termination Date then in effect signed by a Responsible Officer of the Borrower certifying that, before and after giving effect
to such extension, (A) the representations and warranties contained in Section 6 (including subsections 6.13 and 6.14)
and the other Loan Documents are true and correct on and as of the Termination Date, and except that for purposes of this subsection
2.20, the representations and warranties contained in subsection 6.1 shall be deemed to refer to the most recent statements
furnished pursuant to paragraphs (a) and (b), respectively, of subsection 8.1, and (B) no Default or Event of Default
exists. In addition, no such extension of the Revolving Credit Facility shall be effective if on the Termination Date then in effect,
the Aggregate Total Outstandings would exceed the Revolving Credit Commitments then being extended.

 

    - 42 - 

     

    

 

SECTION 3

 

CERTAIN
PROVISIONS APPLICABLE TO THE LOANS

 

		3.1.	Optional and Mandatory Prepayments.

 

(a)           The
Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty (other than any amounts
payable pursuant to subsection 3.11 if such prepayment is of Eurodollar Loans and is made on a day other than the last day
of the Interest Period with respect thereto), upon at least three Business Days’ irrevocable notice to the Administrative Agent,
specifying the date and amount of prepayment and whether the prepayment is of Eurodollar Loans, ABR Loans or a combination thereof, and,
if of a combination thereof, the amount allocable to each; provided further that such notice delivered by the Borrower may
state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the
Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Upon
receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. If any such notice is given, the amount
specified in such notice shall be due and payable on the date specified therein. Partial prepayments of Loans shall be in an aggregate
principal amount of at least $1,000,000 or an integral multiple of $100,000 in excess thereof.

 

(b)           The
Borrower may at any time and from time to time prepay, without premium or penalty (other than any amounts payable pursuant to subsection
3.11 if such prepayment is of Multicurrency Loans and is made on a day other than the last day of the Interest Period with respect
thereto), the Multicurrency Loans, in whole or in part, upon at least three Business Days’ irrevocable notice to the Administrative
Agent specifying the date and amount of prepayment; provided further that such notice delivered by the Borrower may state
that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower
(by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Upon the receipt
of any such notice, the Administrative Agent shall promptly notify each Multicurrency Lender thereof. If any such notice is given, the
amount specified in such notice shall be due and payable on the date specified therein. Partial prepayments of Multicurrency Loans shall
be in an aggregate principal amount the Dollar Equivalent of which is at least $1,000,000 or an integral multiple of $100,000 in excess
thereof.

 

(c)           If
at any time during the Commitment Period, for any reason the Aggregate Total Outstandings of all Lenders exceed the Aggregate Revolving
Credit Commitments then in effect, the Borrower shall, without notice or demand, immediately prepay the Revolving Credit Loans and/or
the Multicurrency Loans in amounts such that the sum of (A) the aggregate principal amount of the Revolving Credit Loans so prepaid
and (B) the Dollar Equivalent of the aggregate principal amount of the Multicurrency Loans so prepaid, equals or exceeds the amount
of such excess.

 

    - 43 - 

     

    

 

(i)            If,
at any time during the Commitment Period, for any reason either (1) the Aggregate Total Outstandings of all Multicurrency Lenders
exceed the Aggregate Revolving Credit Commitments of the Multicurrency Lenders by 5% or more, (2) the Aggregate Multicurrency Outstandings
exceed the aggregate Multicurrency Commitments by 5% or more, (3) the sum of the Aggregate Multicurrency Outstandings plus
the Dollar Equivalent of (x) the aggregate outstanding principal amount of Local Currency Loans and (y) the aggregate outstanding
amount of L/C Obligations attributable to Letters of Credit denominated in currencies other than Dollars, exceeds the aggregate Multicurrency
Commitments by 5% or more or (4) the Dollar Equivalent of all L/C Obligations attributable to Letters of Credit denominated in currencies
other than Dollars exceeds, in the aggregate, the Multicurrency Sublimit by 5% or more, the Borrower shall, without notice or demand,
immediately prepay the Revolving Credit Loans and/or the Multicurrency Loans and/or Local Currency Loans and/or cash collateralize the
L/C Obligations in amounts such that any such excess is eliminated.

 

(ii)           Each
prepayment of Loans pursuant to this subsection 3.1(c) shall be accompanied by the payment of unpaid accrued interest on the
principal amount so prepaid and any amounts payable under subsection 3.11 in connection with such prepayment.

 

(iii)          Notwithstanding
the foregoing, mandatory prepayments of Revolving Credit Loans or Multicurrency Loans that would otherwise be required pursuant to this
subsection 3.1(c) solely as a result of fluctuations in Exchange Rates from time to time shall only be required to be made
pursuant to this subsection 3.1(c) on the last Business Day of each month on the basis of the Exchange Rate in effect on such
Business Day.

 

		3.2.	Conversion and Continuation Options.

 

(a)           The
Borrower may elect from time to time to convert Eurodollar Loans to ABR Loans by giving the Administrative Agent at least two Business
Days’ prior irrevocable notice of such election. The Borrower may elect from time to time to convert ABR Loans to Eurodollar Loans
by giving the Administrative Agent at least three Business Days’ prior irrevocable notice of such election. Any such notice of conversion
to Eurodollar Loans shall specify the length of the initial Interest Period therefor. Upon receipt of any such notice the Administrative
Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Loans and ABR Loans may be converted as provided
herein, provided that (i) no Loan may be converted into a Eurodollar Loan when any Event of Default has occurred and is continuing
and the Administrative Agent has or the Majority Lenders have determined that such a conversion is not appropriate and (ii) no Loan
may be converted into a Eurodollar Loan after the date that is one month prior to the Termination Date. No Multicurrency Loan or CAF Advance
may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency
of such Loan and reborrowed in the other currency.

 

(b)           Any
Eurodollar Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower
giving notice to the Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set
forth in subsection 1.1, of the length of the next Interest Period to be applicable to such Loans, provided that no Eurodollar
Loan may be continued as such (i) when any Event of Default has occurred and is continuing and the Administrative Agent has or the
Majority Lenders have determined that such a continuation is not appropriate or (ii) after the date that is one month prior to the
Termination Date, and provided, further, that if the Borrower shall fail to give such notice or if such continuation is
not permitted, such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period.

 

    - 44 - 

     

    

 

(c)           Any
Multicurrency Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower
giving a Notice of Multicurrency Loan Continuation, provided, that if the Borrower shall fail to give such Notice of Multicurrency
Loan Continuation by the deadline specified therefor in Schedule II, such Multicurrency Loans shall automatically be continued
for an Interest Period of one month.

 

3.3.          Minimum
Amounts and Maximum Number of Tranches. All borrowings, conversions and continuations of Revolving Credit Loans and Multicurrency
Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that,
after giving effect thereto, (i) the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar Tranche shall
be equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (ii) the aggregate principal amount of the Multicurrency
Loans comprising each Multicurrency Tranche shall be in an amount the Dollar Equivalent of which is at least $5,000,000. In no event
shall there be more than ten Tranches outstanding at any time, unless the Borrower and the Administrative Agent shall so agree.

 

		3.4.	Interest Rates and Payment Dates.

 

(a)           Each
Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurocurrency
Rate determined for such Interest Period plus the Applicable Margin in effect for such day.

 

(b)           Each
ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin.

 

(c)           Each
Multicurrency Loan shall bear interest at a rate per annum equal to the Eurocurrency Rate plus the Applicable Margin in effect
on the day such Multicurrency Loan is made.

 

(d)           Each
CAF Advance shall bear interest at the rate determined in accordance with subsection 2.9.

 

(e)           If
all or a portion of (i) any principal of any Loan, (ii) any interest payable thereon, (iii) any facility fee or (iv) any
other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal
of the Loans and/or any such overdue interest, facility fee or other amount shall bear interest at a rate per annum which is (x) in
the case of principal, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection plus
2% or (y) in the case of any such overdue interest, facility fee or other amount, the rate described in paragraph (b) of this
subsection plus 2%, in each case from the date of such non-payment until such overdue principal, interest, facility fee or other
amount is paid in full (as well after as before judgment).

 

(f)            Interest
pursuant to this subsection shall be payable in arrears on each Interest Payment Date or CAF Advance Interest Payment Date, as the case
may be, provided that interest accruing pursuant to paragraph (e) of this subsection shall be payable from time to time on
demand. 

 

    - 45 - 

     

    

 

3.5.           Computation
of Interest and Fees.

 

(a)            All
interest and fees hereunder shall be computed on the basis of a year of 360 days, except that (i) interest computed by reference
to the ABR when it is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and (ii) interest
computed with respect to Loans denominated in Australian Dollar, Canadian Dollar and Pounds Sterling shall be computed on the basis of
a year of 365 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the
last day). The applicable ABR or Eurocurrency Rate shall be determined by the Administrative Agent, and such determination shall be conclusive
absent manifest error. The Administrative Agent shall as soon as practicable notify the Borrower and the Lenders of each determination
of a Eurocurrency Rate. Any change in the interest rate on a Loan resulting from a change in the ABR or the Eurocurrency Reserve Requirements
shall become effective as of the opening of business on the day on which such change becomes effective. The Administrative Agent shall
as soon as practicable notify the Borrower and the relevant Lenders of the effective date and the amount of each such change in interest
rate.

 

(b)            Each
determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement shall be conclusive and binding
on the Borrower and the Lenders in the absence of manifest error. The Administrative Agent shall, at the request of either of the Borrower,
deliver to the Borrower a statement showing the quotations used by the Administrative Agent in determining any interest rate pursuant
to subsections 3.4(a), (b) or (d).

 

3.6.          Changed
Circumstances.

 

(a)            If
prior to the first day of any Interest Period:

 

(i)             the
Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that, by reason of
circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurocurrency Rate for such
Interest Period, or

 

(ii)            the
Administrative Agent shall have received notice from the Majority Lenders or the Majority Multicurrency Lenders, as the case may be,
that the Eurocurrency Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to
such Lenders (as conclusively certified by such Lenders) of making or maintaining their affected Loans during such Interest Period,

 

the Administrative Agent shall give telecopy or telephonic notice
thereof to the Borrower and the Lenders as soon as practicable thereafter. If such notice is given (w) any Eurodollar Loans or Multicurrency
Loans, as the case may be, requested to be made on the first day of such Interest Period shall be made as ABR Loans, provided, that,
notwithstanding the provisions of subsection 2.2 or 2.14, the Borrower may cancel the request for such Eurodollar Loan or Multicurrency
Loan, as the case may be, by written notice to the Administrative Agent one Business Day prior to the first day of such Interest Period
and the Borrower shall not be subject to any liability pursuant to subsection 3.11 with respect to such cancelled request, (x) any
Loans that were to have been converted on the first day of such Interest Period to Eurodollar Loans shall be continued as ABR Loans,
(y) any outstanding Eurodollar Loans shall be converted, on the first day of such Interest Period, to ABR Loans and (z) any
Multicurrency Loans to which such Interest Period relates shall be repaid on the first day of such Interest Period. Until such notice
has been withdrawn by the Administrative Agent, no further Eurodollar Loans or Multicurrency Loans shall be made or continued as such,
nor shall the Borrower have the right to convert ABR Loans to Eurodollar Loans.

 

    - 46 -

     

    

 

(b)

 

(i)            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 with respect to any applicable then-current Benchmark, as applicable, the Administrative Agent and the Borrower may amend this
Agreement to replace such Benchmark with one or more Benchmark Replacements (it being understood that all amounts denominated in a given
currency for which a Benchmark is being replaced shall be subject to the same 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 the Administrative
Agent has posted such proposed amendment to all Lenders and the Borrower so long as the Administrative Agent has not received, by such
time, written notice of objection to such amendment from Lenders comprising the Majority Lenders. Any such amendment with respect to
an Early Opt-in Election will become effective on the date that Lenders comprising the Majority Lenders have delivered to the Administrative
Agent written notice that such Majority Lenders accept such amendment. No replacement of a Benchmark with a Benchmark Replacement pursuant
to this Section will occur prior to the applicable Benchmark Transition Start Date.

 

(ii)            In
connection with the implementation of a Benchmark Replacement, the Administrative Agent will have the right (in consultation with the
Borrower) 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 hereto.

 

(iii)            The
Administrative Agent will promptly notify the Borrower and the Lenders of (i) 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, (ii) the
implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the
commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative
Agent or Lenders pursuant to this Section, 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.

 

(iv)            Upon
the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period with respect to a given Benchmark, Borrower
may revoke any request for a borrowing of, conversion to or continuation of Loans subject to such Benchmark Unavailability Period to
be made, converted or continued during such Benchmark Unavailability Period and, failing that, (i) in the case of a request for
borrowing of, conversion to or continuation of Loans denominated in Dollars, the Borrower will be deemed to have converted any such request
into a request for a borrowing of or conversion to ABR Loans and (ii) in the case of a request for borrowing of, conversion to or
continuation of Loans denominated in any currency other than Dollars, such request shall be ineffective. During any Benchmark Unavailability
Period with respect to any Benchmark, the component of Base Rate or any other Benchmark that is based upon the Benchmark that is the
subject of such Benchmark Unavailability Period will not be used in any determination of Base Rate or such other Benchmark. Furthermore,
if any Eurocurrency Loan in any Available Foreign Currency is outstanding on the date of the Borrower’s receipt of notice of the
commencement of a Benchmark Unavailability Period with respect to a Relevant Rate applicable to such Eurocurrency Loan, then (i) if
such Eurocurrency Loan is denominated in Dollars, then on the last day of the Interest Period applicable to such Loan (or the next succeeding
Business Day if such day is not a Business Day), such Loan shall be converted by the Administrative Agent to, and shall constitute, an
ABR Loan denominated in Dollars on such day or (ii) if such Eurocurrency Loan is denominated in any Available Foreign Currency,
then such Loan shall, on the last day of the Interest Period applicable to such Loan (or the next succeeding Business Day if such day
is not a Business Day), at the Borrower’s election prior to such day: (A) be prepaid by the Borrower on such day or (B) be
converted by the Administrative Agent to, and (subject to the remainder of this subclause (B)) shall constitute, an ABR Loan denominated
in Dollars (in an amount equal to the Dollar Equivalent of such Available Foreign Currency) on such day (it being understood and agreed
that if the Borrower does not so prepay such Loan on such day by 12:00 noon, local time, the Administrative Agent is authorized to effect
such conversion of such Eurocurrency Loan into an ABR Loan denominated in Dollars), and, in the case of such subclause (B), upon any
subsequent implementation of a Benchmark Replacement in respect of such Available Foreign Currency pursuant to this Section 3.6,
such ABR Loan denominated in Dollars shall then be converted by the Administrative Agent to, and shall constitute, a Eurocurrency Loan
denominated in such original Available Foreign Currency (in an amount equal to the Available Foreign Currency Equivalent of such Available
Foreign Currency) on the day of such implementation, giving effect to such Benchmark Replacement in respect of such Available Foreign
Currency.

 

    - 47 -

     

    

 

3.7.          Pro
Rata Treatment and Payments.

 

(a)            Each
payment of principal and interest in respect of any optional prepayment of Revolving Credit Loans or Multicurrency Loans shall be made
pro rata according to the amounts then due and owing to the respective Revolving Lender or Multicurrency Lender, as the case may
be.

 

(b)            Except
as provided in subsection 2.16, each borrowing by the Borrower of Revolving Credit Loans from the Revolving Lenders hereunder
shall be made pro rata according to the Funding Commitment Percentages of the Revolving Lenders in effect on the date of such
borrowing. Each payment by the Borrower on account of any facility fee hereunder and any reduction of the Revolving Credit Commitments
of the Revolving Lenders shall be allocated by the Administrative Agent among the Revolving Lenders pro rata according to the
Revolving Credit Commitment Percentages of the Lenders. Except as provided in subsection 2.16, each payment (including each prepayment)
by the Borrower on account of principal on the Revolving Credit Loans shall be made pro rata according to the respective outstanding
principal amounts of the Revolving Credit Loans then due and owing to the Revolving Lenders. Each payment by the Borrower of interest
in respect of the Revolving Credit Loans shall be applied to the amounts of such obligations owing to the Revolving Lenders pro rata
according to the respective amounts then due and owing to the Revolving Lenders. All payments (including prepayments) to be made
by the Borrower hereunder in respect of amounts denominated in Dollars, whether on account of principal, interest, fees or otherwise,
shall be made without set off or counterclaim and shall be made prior to 12:00 Noon, New York City time, on the due date thereof to the
Administrative Agent, for the account of the relevant Lenders, at the Administrative Agent’s office specified in subsection
13.2, in Dollars and in immediately available funds. The Administrative Agent shall distribute such payments to the relevant Lenders
promptly upon receipt in like funds as received. If any payment hereunder (other than payments on the Eurodollar Loans or Multicurrency
Loans) becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day,
and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension. If any
payment on a Eurodollar Loan or a Multicurrency Loan becomes due and payable on a day other than a Business Day, the maturity of such
payment shall be extended to the next succeeding Business Day (and, with respect to payments of principal, interest thereon shall be
payable at the then applicable rate during such extension) unless the result of such extension would be to extend such payment into another
calendar month, in which event such payment shall be made on the immediately preceding Business Day.

 

    - 48 -

     

    

 

(c)            Each
borrowing of Multicurrency Loans by the Borrower shall be made, and any reduction of the Multicurrency Commitments shall be allocated
by the Administrative Agent, pro rata according to the Multicurrency Commitment Percentages of the Multicurrency Lenders. Each
payment (including each prepayment) by the Borrower on account of principal on Multicurrency Loans shall be allocated by the Administrative
Agent pro rata according to the respective principal amounts of the Multicurrency Loans then due and owing by the Borrower to
each Multicurrency Lender. Each payment by the Borrower of interest in respect of the Multicurrency Loans shall be allocated by the Administrative
Agent to the amounts of such obligations owing to the Multicurrency Lenders pro rata according to the respective amounts then
due and owing to the Multicurrency Lenders. All payments (including prepayments) to be made by the Borrower on account of Multicurrency
Loans hereunder, whether on account of principal, interest, fees or otherwise, shall be made without set-off or counterclaim and shall
be made at or before the payment time for the currency of such Multicurrency Loan prior to 3:00 PM (in the local time of the Borrower),
on the due date thereof to the Administrative Agent, for the account of the Multicurrency Lenders, at the payment office for the currency
of such Multicurrency Loan from time to time specified by the Administrative Agent by notice to the Multicurrency Lenders and the Borrower,
in the currency of such Multicurrency Loan and in immediately available funds. The Administrative Agent shall distribute such payments
to the Multicurrency Lenders entitled to receive the same promptly upon receipt in like funds as received; provided that the Administrative
Agent will provide funds in the then applicable Dollar Equivalent thereof (including an exchange fee and other normal and customary fees
for providing this service as determined by the Administrative Agent in its sole discretion) to those Multicurrency Lenders that had
funded the Revolving Credit Loans with the Dollar Equivalent as provided in subsection 2.14.

 

(d)            Notwithstanding
the foregoing, payments and Commitment reductions may be made on a non pro rata basis under this Agreement in order to give effect
to subsections 2.19 and 2.20.

 

(e)            Unless
the Administrative Agent shall have been notified in writing by any Lender prior to a borrowing that such Lender will not make the amount
that would constitute its share of such borrowing available to the Administrative Agent, the Administrative Agent may assume that such
Lender is making such amount available to the Administrative Agent, and the Administrative Agent may, in reliance upon such assumption,
make available to the Borrower a corresponding amount. If such amount is not made available to the Administrative Agent by the required
time on the Borrowing Date therefor, such Lender shall pay to the Administrative Agent, on demand, such amount with interest thereon
at a rate equal to (i) the daily average NYFRB Rate (in the case of a borrowing of Revolving Credit Loans or CAF Advances denominated
in Dollars) and (ii) the Administrative Agent’s reasonable estimate of its average daily cost of funds (in the case of a borrowing
of Multicurrency Loans or CAF Advances denominated in a currency other than Dollars), in each case for the period until such Lender makes
such amount immediately available to the Administrative Agent. A certificate of the Administrative Agent submitted to any Lender with
respect to any amounts owing under this subsection 3.7 shall be conclusive in the absence of manifest error. If such Lender’s
share of such borrowing is not made available to the Administrative Agent by such Lender within three Business Days of such Borrowing
Date, the Administrative Agent shall also be entitled to recover such amount with interest thereon equal to (i) the rate per annum
applicable to ABR Loans hereunder (in the case of a borrowing of Revolving Credit Loans or CAF Advances or CAF Advances denominated in
Dollars) and (ii) the Administrative Agent’s reasonable estimate of its average daily cost of funds plus the Applicable
Margin applicable to Multicurrency Loans (in the case of a borrowing of Multicurrency Loans or CAF Advances denominated in a currency
other than Dollars), on demand, from the Borrower.

 

    - 49 -

     

    

 

3.8.          Illegality.
Notwithstanding any other provision herein, if after the date hereof the adoption of or any change in any Requirement of Law or in
the interpretation or application thereof shall make it unlawful for any Lender to make or maintain Eurodollar Loans or Multicurrency
Loans as contemplated by this Agreement, (a) the commitment of such Lender hereunder to make Eurodollar Loans or Multicurrency Loans,
continue Eurodollar Loans or Multicurrency Loans as such and convert ABR Loans to Eurodollar Loans shall forthwith be cancelled, (b) such
Lender’s Loans then outstanding as Eurodollar Loans, if any, shall be converted automatically to ABR Loans on the respective last
days of the then current Interest Periods with respect to such Loans or within such earlier period as required by law and (c) such
Lender’s Multicurrency Loans shall be prepaid on the last day of the then current Interest Period with respect thereto. If any
such conversion of a Eurodollar Loan occurs on a day which is not the last day of the then current Interest Period with respect thereto,
the Borrower shall pay to such Lender such amounts, if any, as may be required pursuant to subsection 3.11. For all purposes of
this Section 3.8, the term “Lenders” shall be deemed to include Issuing Lenders.

 

3.9.          Requirements
of Law.

 

(a)            If,
due to either (i) the introduction of or any change in any law or regulation or in the interpretation or administration of any law
or regulation by any Governmental Authority charged with the interpretation or administration thereof or (ii) the compliance with
any guideline or request from any central bank or other Governmental Authority that would be complied with generally by similarly situated
banks or lenders acting reasonably (whether or not having the force of law and for the avoidance of doubt, including any changes resulting
from requests, rules, guidelines or directives concerning capital adequacy issued after the date hereof in connection with the Dodd-Frank
Wall Street Reform and Consumer Protection Act or promulgated after the date hereof 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), there shall be any increase in the cost to any Lender of agreeing to make or making, funding or maintaining
Eurodollar Loans, Multicurrency Loans or LIBO Rate CAF Advances or issuing or participating in Letters of Credit (except any reserve
or other requirement contemplated by subsection 3.9(b) or (c) other than as set forth below) by an amount deemed
by such Lender to be material (except, for the avoidance of doubt, for Non-Excluded Taxes indemnified under subsection 3.10 and
Excluded Taxes), then the Borrower shall from time to time, upon demand by such Lender (with a copy of such demand to the Administrative
Agent), pay to the Administrative Agent for the account of such Lender additional amounts sufficient to compensate such Lender for such
increased cost. A certificate as to the amount of such increased cost, submitted to the Borrower and the Administrative Agent by such
Lender, shall be conclusive and binding for all purposes, absent manifest error.

 

(b)            If,
due to either (i) the introduction of or any change in or interpretation of any law or regulation or (ii) compliance with any
guideline or request from any central bank or other governmental or regulatory authority which becomes effective after the date hereof
(for the avoidance of doubt, including any changes resulting from requests, rules, guidelines or directives concerning capital adequacy
issued after the date hereof in connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act or promulgated after the
date hereof 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), there shall be any increase in the amount
of capital required or expected to be maintained by any Lender or any corporation controlling such Lender and the amount of such capital
is increased by or based upon the existence of such Lender’s Loans or commitment to extend credit and other commitments of this
type by an amount deemed by such Lender to be material, then, upon demand by such Lender (with a copy of such demand to the Administrative
Agent), the Borrower shall pay to the Administrative Agent for the account of such Lender, from time to time as specified by such Lender,
additional amounts sufficient to compensate such Lender or such corporation in the light of such circumstances, to the extent that such
Lender reasonably determines such increase in capital to be allocable to the existence of such Lender’s Loans or commitment to
extend credit hereunder. A certificate as to such amounts submitted to the Borrower and the Administrative Agent by such Lender shall
be conclusive and binding for all purposes as to the calculations therein, absent manifest error. Such certificate shall be in reasonable
detail and shall certify that the claim for additional amounts referred to therein is generally consistent with such Lender’s treatment
of similarly situated customers of such Lender whose transactions with such Lender are similarly affected by the change in circumstances
giving rise to such payment, but such Lender shall not be required to disclose any confidential or proprietary information therein. For
all purposes of this Section 3.9(b), the term “Lenders” shall be deemed to include Issuing Lenders.

 

    - 50 -

     

    

 

(c)            For
purposes of the foregoing paragraphs (a) and (b), the amendments to 12 C.F.R. Part 327 set forth in the final rule attached
to the Federal Deposit Insurance Corporation Financial Institution Letter FIL-8-2011, dated February 9, 2011, shall be deemed to
have been introduced and adopted after the date of this Agreement.

 

3.10.        Taxes.

 

(a)            All
payments made by the Borrower under any Loan Document shall be made free and clear of, and without deduction or withholding for or on
account of, any Taxes, excluding (i) all net income Taxes, franchise Taxes or other Taxes, including branch profits Taxes, in each
case imposed on the Administrative Agent or any Lender as a result of a present or former connection between the Administrative Agent
or such Lender and the jurisdiction of the Governmental Authority imposing such Tax or any political subdivision or taxing authority
thereof or therein (other than any such connection arising solely from the Administrative Agent or such Lender having executed, delivered
or performed its obligations or received a payment under, or enforced, any Loan Document), (ii) in the case of a Lender other than
an assignee pursuant to a request by a Borrower under subsection 3.12, any U.S. federal withholding Tax that is imposed under
a law in effect at the time such Lender becomes a party hereto (or designates a new lending office), except to the extent that such Lender
(or its assignor, if any) was entitled, immediately prior to the time of designation of a new lending office (or assignment), to receive
additional amounts from the Borrower with respect to such withholding Tax pursuant to this Section, (iii) any withholding Tax imposed
as a result of a Lender failing to comply with subsection 3.10(c) and (iv) any U.S. federal Taxes that are imposed by
reason of FATCA (Taxes in clauses (i) to (iv) being “Excluded Taxes”). If any Taxes are required to be withheld
from any amounts payable to the Administrative Agent or any Lender hereunder or under any Loan Document as determined in good faith by
the applicable withholding agent, (x) such amounts shall be paid to the relevant Governmental Authority in accordance with applicable
law and (y) if such Taxes are not Excluded Taxes (“Non-Excluded Taxes”) the amounts so payable by the Borrower
to the Administrative Agent or such Lender shall be increased to the extent necessary to yield to the Administrative Agent or such Lender
(after payment of all Non-Excluded Taxes) interest or any such other amounts payable hereunder at the rates or in the amounts specified
in such Loan Document as if such withholding or deduction had not been made. Whenever any Taxes are payable by the Borrower pursuant
to this Section, as promptly as possible thereafter the Borrower shall send to the Administrative Agent for its own account or for the
account of such Lender, as the case may be, a certified copy of an original official receipt received by the Borrower showing payment
thereof or other evidence of such payment satisfactory to the Administrative Agent (in its reasonable discretion). If the Borrower fails
to pay any Non-Excluded Taxes when due to the appropriate taxing authority or fails to remit to the Administrative Agent the required
receipts or other required documentary evidence, the Borrower shall indemnify the Administrative Agent and the Lenders for any incremental
Taxes that may become payable by the Administrative Agent or any Lender as a result of any such failure. The agreements in this subsection
3.10 shall survive the termination of this Agreement and each other Loan Document and the payment of the Loans and all other amounts
payable hereunder and thereunder.

 

    - 51 -

     

    

 

(b)            The
Borrower shall indemnify and hold harmless the Administrative Agent and each Lender within 20 days after demand therefor, for the full
amount of any Non-Excluded Taxes (including Non-Excluded Taxes imposed or asserted on or attributable to amounts payable under this subsection
3.10) payable by the Administrative Agent or such Lender and any penalties, interest and reasonable expenses arising therefrom or
with respect thereto, whether or not such Non-Excluded Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority; provided that the Borrower and the Foreign Subsidiary Borrower, as applicable, shall not be obligated to indemnify
the Administrative Agent or any such Lender pursuant to this subsection 3.10(b) in respect of penalties, interest or reasonable
expenses if such penalties, interest or reasonable expenses are attributable to the gross negligence or willful misconduct of the person
seeking indemnification.

 

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

 

Without limiting the generality of the foregoing,
in the event the Borrower is a U.S. Person,

 

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

 

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

 

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

 

    - 52 -

     

    

 

		(B)	executed
                                            originals of IRS Form W-8ECI;

 

		(C)	in
                                            the case of a Non-U.S. Lender claiming the benefits of the exemption for portfolio interest
                                            under Section 871(h) or Section 881(c) of the Code, (x) a certificate
                                            substantially in the form of Exhibit J-1 to the effect that such Non-U.S. Lender is
                                            not a “bank” within the meaning of Section 881(c)(3)(A) of the Code,
                                            a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of
                                            the Code, or a “controlled foreign corporation” related to the Borrower as described
                                            in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”)
                                            and (y) executed originals of IRS Form W-8BEN or W-8BEN-E, as applicable; or

 

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

 

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

 

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

 

    - 53 -

     

    

 

Each Lender agrees that if any form or certification it previously
delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the
Borrower and the Administrative Agent in writing of its legal inability to do so. Notwithstanding any other provision of this Section,
a Lender shall not be required to deliver any form pursuant to this Section that such Lender is not legally able to deliver.

 

(d)            If
the Borrower pays any additional amounts or makes an indemnity payment under this subsection 3.10 to any Lender or the Administrative
Agent, and such Lender or the Administrative Agent determines in its sole discretion exercised in good faith that it has actually received
in connection therewith any refund of the underlying Non-Excluded Taxes, such Lender or the Administrative Agent shall pay to the Borrower
an amount equal to such refund which was obtained by such Lender or Administrative Agent (but only to the extent of indemnity payments
made, or Additional Amounts paid by the Borrower under this subsection 3.10 with respect to the Non-Excluded Taxes giving
rise to such refund) net of all reasonable out-of-pocket expenses of the Lender or the Administrative Agent with respect to such refund,
and without interest (other than any interest paid by the relevant taxation authority); provided, however, that the Borrower,
upon the request of the Lender or the Administrative Agent, agrees to repay the amount paid over to the Borrower to any Lender or the
Administrative Agent in the event any Lender or the Administrative Agent is required to repay such refund, plus interest and penalties
(excluding interest and penalties attributable to the negligence or willful misconduct of such Lender or the Administrative Agent). This
paragraph shall not be construed to require any Lender or the Administrative Agent to disclose any confidential information to the Borrower
or any other Person (including its Tax returns).

 

(e)            Each
Lender shall indemnify the Administrative Agent for the full amount of any Taxes imposed by any Governmental Authority that are attributable
to such Lender and that are payable or paid by the Administrative Agent, together with all interest, penalties, reasonable costs and
expenses arising therefrom or with respect thereto (but only to the extent not already paid by the Borrower), as determined by the Administrative
Agent in good faith. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent
shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts
at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other
source against any amount due to the Administrative Agent under this subsection 3.10(e).

 

For all purposes of this Section 3.10, the term “Lenders”
shall be deemed to include Issuing Lenders.

 

3.11.        Indemnity.
The Borrower agrees to indemnify each Lender and to hold each such Lender harmless from any loss or expense which such Lender may
sustain or incur as a consequence of (a) default by the Borrower in making a borrowing of, conversion into or continuation of Eurodollar
Loans, Local Currency Loans, Multicurrency Loans or CAF Advances after the Borrower has given a notice requesting the same in accordance
with the provisions of this Agreement, (b) default by the Borrower or any Foreign Subsidiary Borrower in making any prepayment after
the Borrower or such Foreign Subsidiary Borrower has given a notice thereof in accordance with the provisions of this Agreement or any
other Loan Document or (c) the making of a prepayment of Eurodollar Loans, Local Currency Loans, Multicurrency Loans or CAF Advances
or the conversion of Eurodollar Loans to ABR Loans on a day which is not the last day of an Interest Period with respect thereto. Such
indemnification may include an amount equal to the excess, if any, of (i) the amount of interest which would have accrued on the
amount so prepaid, or not so borrowed, converted or continued, for the period from the date of such prepayment or of such failure to
borrow, convert or continue to the last day of such Interest Period (or, in the case of a failure to borrow, convert or continue, the
Interest Period that would have commenced on the date of such failure) or, in the case of CAF Advances, the applicable CAF Advance Maturity
Date (or proposed CAF Advance Maturity Date), in each case at the applicable rate of interest for such Loans provided for herein (excluding,
however, the Applicable Margin or any positive margin applicable to CAF Advances included therein, if any) over (ii) the amount
of interest (as reasonably determined by such Lender) which would have accrued to such Lender on such amount by placing such amount on
deposit for a comparable period with leading banks in the interbank eurodollar market. This covenant shall survive the termination of
this Agreement and each other Loan Document and the payment of the Loans and all other amounts payable hereunder and thereunder. For
all purposes of this Section 3.11, the term “Lenders” shall be deemed to include Issuing Lenders.

 

    - 54 -

     

    

 

3.12.        Change
of Lending Office; Removal of Lender. Each Lender agrees that if it makes any demand for payment under subsection 3.9 or 3.10(a),
or if any adoption or change of the type described in subsection 3.8 shall occur with respect to it, (i) it will use reasonable
efforts (consistent with its internal policy and legal and regulatory restrictions and so long as such efforts would not be disadvantageous
to it, as determined in its sole discretion) to designate a different lending office if the making of such a designation would reduce
or obviate the need for the Borrower to make payments under subsection 3.9 or 3.10(a), or would eliminate or reduce the
effect of any adoption or change described in subsection 3.8 or (ii) it will, upon at least five Business Days’ notice
from the Borrower to such Lender and the Administrative Agent, assign, pursuant to and in accordance with the provisions of subsection
13.6(c) and 13.19, to one or more Assignees designated by the Borrower all, but not less than all, of such Lender’s
rights and obligations hereunder (other than rights in respect of such Lender’s outstanding CAF Advance), without recourse to or
warranty by, or expense to, such Lender, for a purchase price equal to the outstanding principal amount of each Loan (other than a CAF
Advance) then owing to such Lender plus any accrued but unpaid interest thereon and any accrued but unpaid facility fees and utilization
fees owing thereto and, in addition, all additional costs and reimbursements, expense reimbursements and indemnities, if any, owing in
respect of such Lender’s Commitment hereunder at such time (including any amount that would be payable under subsection 3.11
if such assignment were, instead, a prepayment in full of all amounts owing to such Lender) shall be paid to such Lender.

 

3.13.        Evidence
of Debt.

 

(a)            Each
Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Borrower to such Lender
resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender
from time to time under this Agreement.

 

(b)            The
Administrative Agent shall maintain the Register pursuant to subsection 13.6(d), and a subaccount therein for each Lender, in
which shall be recorded (i) in the case of Revolving Credit Loans, the amount of each Revolving Credit Loan made hereunder, the
Type thereof and each Interest Period applicable thereto, (ii) in the case of Multicurrency Loans, the amount and currency of each
Multicurrency Loans and each Interest Period applicable thereto, (iii) in the case of CAF Advances, the amount and currency of each
CAF Advance made hereunder, the CAF Advance Maturity Date thereof, the interest rate applicable thereto and each CAF Advance Interest
Payment Date applicable thereto, (iv) the amount of any principal or interest due and payable or to become due and payable from
the Borrower to each Lender hereunder and (v) both the amount of any sum received by the Administrative Agent hereunder from the
Borrower and each Lender’s share thereof.

 

(c)            The
entries made in the Register and the accounts of each Lender maintained pursuant to subsection 3.13(a) shall, to the extent
permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded;
provided, however, that the failure of any Lender or the Administrative Agent to maintain the Register or any such account,
or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Loans made
to the Borrower by such Lender in accordance with the terms of this Agreement.

 

    - 55 -

     

    

 

(d)            The
Borrower agrees that, upon the request to the Administrative Agent by any Revolving Lender, the Borrower will execute and deliver to
such Revolving Lender a promissory note of the Borrower evidencing the Revolving Credit Loans of such Revolving Lender, substantially
in the form of Exhibit A with appropriate insertions as to date and principal amount (a “Revolving Credit Note”).

 

(e)            The
Borrower agrees that, upon the request to the Administrative Agent by any Lender, the Borrower will execute and deliver to such Lender
a promissory note of the Borrower evidencing the CAF Advances of such Lender, substantially in the form of Exhibit B with
appropriate insertions (a “CAF Advance Note”).

 

(f)            The
Borrower agrees that, upon the request to the Administrative Agent by any Multicurrency Lender, the Borrower will execute and deliver
to such Multicurrency Lender a promissory note of the Borrower evidencing the Multicurrency Loans of such Multicurrency Lender, substantially
in the form of Exhibit L with appropriate insertions as to date and principal amount (a “Multicurrency Note”).

 

SECTION 4

 

LOCAL
CURRENCY FACILITIES

 

4.1.          Terms
of Local Currency Facilities.

 

(a)            Subject
to the provisions of this Section 4, the Borrower may in its discretion from time to time designate any Subsidiary of the
Borrower organized under the laws of any jurisdiction outside the United States as a “Foreign Subsidiary Borrower”
and any Qualified Credit Facility to which such Foreign Subsidiary Borrower and any one or more Lenders (or its Affiliates, agencies
or branches) is a party as a “Local Currency Facility”, with the consent of the Administrative Agent and each such
Lender in its sole discretion, by delivering a Local Currency Facility Addendum to the Administrative Agent and the Lenders (through
the Administrative Agent) executed by the Borrower, each such Foreign Subsidiary Borrower and each such Lender, provided, that
on the effective date of such designation no Default or Event of Default shall have occurred and be continuing. Concurrently with the
delivery of a Local Currency Facility Addendum, the Borrower or the relevant Foreign Subsidiary Borrower shall furnish to the Administrative
Agent copies of all documentation executed and delivered by such Foreign Subsidiary Borrower in connection therewith, together with,
if applicable, an English translation thereof, and any other information as any Lender may reasonably request for purposes of compliance
with applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and
the Beneficial Ownership Regulation, as reasonably requested by the Lenders. Except as otherwise provided in this Section 4
or in the definition of “Qualified Credit Facility” in subsection 1.1, the terms and conditions of each Local
Currency Facility shall be determined by mutual agreement of the relevant Foreign Subsidiary Borrower(s), Local Currency Lender(s) and
the Administrative Agent. The documentation governing each Local Currency Facility shall (i) contain an express acknowledgement
that such Local Currency Facility shall be subject to the provisions of this Section 4, (ii) if more than one Lender
is a party thereto, designate a Local Currency Facility Agent for such Local Currency Facility and (iii) include an opinion of counsel
reasonably satisfactory to the Administrative Agent from the jurisdiction in which such Local Currency Facility is established that the
documentation governing such Local Currency Facility is enforceable in accordance with its terms. Each of the Borrower and, by agreeing
to any Local Currency Facility designation as contemplated hereby, each relevant Local Currency Lender (if any) party thereto which is
an Affiliate, branch or agency of a Lender, acknowledges and agrees that each reference in this Agreement to any Lender shall, to the
extent applicable, be deemed to be a reference to such Local Currency Lender. In the event of any inconsistency between the terms of
this Agreement and the terms of any Local Currency Facility, the terms of this Agreement shall prevail.

 

    - 56 -

     

    

 

(b)            The
documentation governing each Local Currency Facility shall set forth (i) the maximum amount (expressed in Dollars) available to
be borrowed from all Local Currency Lenders under such Local Currency Facility (as the same may be reduced from time to time, a “Local
Currency Facility Maximum Borrowing Amount”) and (ii) with respect to each Local Currency Lender party to such Local Currency
Facility, the maximum amount (expressed in Dollars) available to be borrowed from such Local Currency Lender thereunder (as the same
may be reduced from time to time, a “Local Currency Lender Maximum Borrowing Amount”).

 

(c)            Except
as otherwise required by applicable law, in no event shall the Local Currency Lenders party to a Local Currency Facility have the right
to accelerate the Local Currency Loans outstanding thereunder, or to terminate their commitments (if any) to make such Local Currency
Loans prior to the earlier of the stated termination date in respect thereof or the Termination Date, except, in each case, in connection
with an acceleration of the Loans or a termination of the Commitments pursuant to Section 10 hereof, provided, that
nothing in this paragraph (c) shall be deemed to require any Local Currency Lender to make a Local Currency Loan if the applicable
conditions precedent to the making of such Local Currency Loan set forth in the documentation governing the relevant Local Currency Facility
have not been satisfied. No Local Currency Loan may be made under a Local Currency Facility if (i) after giving effect thereto,
the conditions precedent in subsection 7.2 hereof would not be satisfied or (ii) after giving effect to the making of such
Local Currency Loan and the simultaneous application of the proceeds thereof, (A) the Aggregate Total Outstandings of all Lenders
at any time exceeds the Aggregate Revolving Credit Commitments or (B) the Dollar Equivalent of the aggregate outstanding principal
amount of Multicurrency Loans, Local Currency Loans and L/C Obligations attributable to Letters of Credit denominated in any currency
other than Dollars would exceed the Multicurrency Sublimit.

 

(d)            The
relevant Foreign Subsidiary Borrower shall furnish to the Administrative Agent copies of any amendment, supplement or other modification
(including any change in commitment amounts or in the Local Currency Lenders participating in any Local Currency Facility) to the terms
of any Local Currency Facility promptly after the effectiveness thereof (together with, if applicable, an English translation thereof).
If any such amendment, supplement or other modification to a Local Currency Facility shall (i) add a Local Currency Lender as a
Local Currency Lender thereunder or (ii) change the Local Currency Facility Maximum Borrowing Amount or any Local Currency Lender
Maximum Borrowing Amount with respect thereto, the Borrower shall promptly furnish an appropriately revised Local Currency Facility Addendum,
executed by the Borrower, the relevant Foreign Subsidiary Borrower and the affected Local Currency Lenders (or any agent acting on their
behalf), to the Administrative Agent and the Lenders (through the Administrative Agent).

 

(e)            The
Borrower may terminate its designation of a facility as a Local Currency Facility, with the consent of each Local Currency Lender party
thereto in its sole discretion, by written notice to the Administrative Agent, which notice shall be executed by the Borrower, the relevant
Foreign Subsidiary Borrower and each Local Currency Lender party to such Local Currency Facility (or any agent acting on their behalf).
Once notice of such termination is received by the Administrative Agent, such Local Currency Facility and the loans and other obligations
outstanding thereunder shall immediately cease to be subject to the terms of this Agreement.

 

    - 57 -

     

    

 

4.2.            Reporting
of Local Currency Outstandings.

 

(a)            On
the date of the making of any Local Currency Loan having a maturity of 30 or more days to a Foreign Subsidiary Borrower and on the last
Business Day of each month on which a Foreign Subsidiary Borrower has any outstanding Local Currency Loans, the Local Currency Facility
Agent for such Foreign Subsidiary Borrower, shall deliver to the Administrative Agent a Notice of Local Currency Outstandings and the
Administrative Agent shall deliver a copy of such Notice of Local Currency Outstandings to the Lenders. The Administrative Agent will,
at the request of any Local Currency Facility Agent, advise such Local Currency Facility Agent of the Exchange Rate used by the Administrative
Agent in calculating the Dollar Equivalent of Local Currency Loans under the related Local Currency Facility on any date.

 

(b)            For
purposes of any calculation under this Agreement in which the amount of the Aggregate Local Currency Outstandings of any Lender is a
component, the Administrative Agent shall make such calculation on the basis of the Notices of Local Currency Outstanding received by
it at least two Business Days prior to the date of such calculation.

 

SECTION 5

 

LETTERS
OF CREDIT

 

5.1.            L/C
Commitment.

 

(a)            Subject
to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements set forth in this Agreement, agrees to issue letters
of credit (provided that Barclays shall only be required to issue standby letters of credit) (“Letters of Credit”)
for the account of the Borrower on any Business Day during the Commitment Period in such form as may be approved from time to time by
the Issuing Lender; provided that the Issuing Lender shall not issue any Letter of Credit if, after giving effect to such issuance,
(i) the L/C Obligations would exceed the L/C Commitment, (ii) the aggregate amount of the Available Revolving Credit Commitments
would be less than zero, (iii) the Dollar Equivalent of the aggregate outstanding principal amount of Multicurrency Loans, Local
Currency Loans and L/C Obligations attributable to Letters of Credit denominated in any currency other than Dollars would exceed the
Multicurrency Sublimit, (iv) the L/C Obligations in respect of all Letters of Credit issued by such Issuing Lender would exceed
its Issuing Lender Commitment or (v) any Lender is at that time a Defaulting Lender, unless the Issuing Lender has entered into
arrangements, including the delivery of Cash Collateral, reasonably satisfactory to the Issuing Lender with the Borrower or such Lender
to eliminate the Issuing Lender’s actual or potential Fronting Exposure (after giving effect to subsection 2.19(a)(iv))
with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and
all other L/C Obligations as to which the Issuing Lender has actual or potential Fronting Exposure. Each Letter of Credit shall (i) be
denominated in Dollars, any Available Foreign Currency, or any other currency acceptable to the Issuing Lender, (ii) have a face
amount of at least $1,000,000 (unless otherwise agreed by the Issuing Lender) and (iii) expire (or be subject to termination by
notice from the Issuing Lender to the beneficiary thereof) no later than the date that is five Business Days prior to the Termination
Date.

 

(b)            The
Issuing Lender shall not at any time be obligated to issue any Letter of Credit if such issuance would conflict with, or cause the Issuing
Lender or any L/C Participant to exceed any limits imposed by, any applicable Requirement of Law.

 

(c)            Letters
of Credit issued under the Existing Credit Facilities and outstanding on the Closing Date shall be deemed to be issued under this Agreement
on the Closing Date.

 

    - 58 -

     

    

 

5.2.          Procedure
for Issuance of Letter of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by
delivering to the Issuing Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of
the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may request. Upon receipt
of any Application, the Issuing Lender will process such Application and the certificates, documents and other papers and information
delivered to it in connection therewith in accordance with its customary policies and procedures and shall promptly issue the Letter
of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three Business
Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating
thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the Issuing
Lender and the Borrower. The Issuing Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance
thereof. The Issuing Lender shall promptly furnish to the Administrative Agent, which shall in turn promptly furnish to the Lenders,
notice of the issuance of each Letter of Credit (including the amount thereof). If the Borrower so requests, the applicable Issuing Lender
may, in its sole and absolute discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension
Letter of Credit”); provided, that any such Auto-Extension Letter of Credit must permit such Issuing Lender to prevent
any such extension at least once in each 12-month period (or such longer period in the case of a Letter of Credit with an expiration
in excess of 12 months) (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof
not later than a day (the “Non-Extension Notice Date”) in each such 12-month period (or such longer period in the
case of a Letter of Credit with an expiration in excess of 12 months) to be agreed upon at the time such Letter of Credit is issued.
Unless otherwise directed by the applicable Issuing Lender, the Borrower shall not be required to make a specific request to such Issuing
Lender for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized
(but may not require) the applicable Issuing Lender to permit the extension of such Letter of Credit at any time to an expiry date not
later than the Termination Date; provided, however, that such Issuing Lender shall not permit any such extension if (i) such
Issuing Lender has determined that it would not be permitted, at such time to issue such Letter of Credit in its revised form (as extended)
under the terms hereof, or (ii) it has received notice (which may be by telephone or in writing) on or before the day that is five
Business Days before the Non-Extension Notice Date (A) from the Administrative Agent that the Majority Lenders have elected not
to permit such extension or (B) from the Administrative Agent, any Lender or the Borrower that one or more of the applicable conditions
specified in Section 7 are not then satisfied, and in each such case directing such Issuing Lender not to permit such extension.

 

5.3.          Fees
and Other Charges.

 

(a)            The
Borrower will pay a fee on the actual daily undrawn amount of all outstanding Letters of Credit at a per annum rate equal to the Applicable
Margin then in effect with respect to Eurodollar Loans, shared ratably among the Revolving Lenders and payable quarterly in arrears on
each L/C Fee Payment Date after the issuance date; such fee with respect to each Letter of Credit denominated in any currency other than
Dollars shall be payable in Dollars, and for purposes of calculating the amount of such fee applicable to each Letter of Credit denominated
in any currency other than Dollars, the actual daily undrawn, outstanding amount of such Letter of Credit shall be the Dollar Equivalent
of such amount calculated at the Exchange Rate as of the relevant L/C Fee Payment Date; provided, however, that any such fees otherwise
payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided
Cash Collateral satisfactory to the Issuing Lender pursuant to subsection 5.1 shall be payable, to the maximum extent permitted
by applicable law, to the other Lenders in accordance with the upward adjustments in their respective Revolving Credit Commitment Percentages
allocable to such Letter of Credit pursuant to subsection 2.19(a)(iv), with the balance of such fee, if any, payable to the Issuing
Lender for its own account. In addition, the Borrower shall pay to the Issuing Lender for its own account a fronting fee in the amount
separately agreed to by the Issuing Lender and the Borrower on the actual daily undrawn, outstanding amount of each Letter of Credit,
payable quarterly in arrears on each L/C Fee Payment Date after the issuance date; such fee with respect to each Letter of Credit denominated
in any currency other than Dollars shall be payable in Dollars, and for purposes of calculating the amount of such fee applicable to
each Letter of Credit denominated in any currency other than Dollars, the actual daily undrawn, outstanding amount of such Letter of
Credit shall be the Dollar Equivalent of such amount calculated at the Exchange Rate as of the relevant L/C Fee Payment Date.

 

    - 59 -

     

    

 

(b)            In
addition to the foregoing fees, the Borrower shall pay or reimburse the Issuing Lender for such normal and customary costs and expenses
as are incurred or charged by the Issuing Lender in issuing, negotiating, examining documents under, effecting payment under, amending
or otherwise administering any Letter of Credit.

 

5.4.          L/C
Participations.

 

(a)            The
Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lender to issue Letters
of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Lender, on
the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C
Participant’s Revolving Credit Commitment Percentage in the Issuing Lender’s obligations and rights under and in respect
of each Letter of Credit and the amount of each drawing paid by the Issuing Lender thereunder. Each L/C Participant unconditionally and
irrevocably agrees with the Issuing Lender that, if a drawing is paid under any Letter of Credit for which the Issuing Lender is not
reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to the Issuing Lender
through the Administrative Agent (or the Administrative Agent shall apply Cash Collateral provided for this purpose) upon demand at the
Administrative Agent’s address for notices specified herein an amount equal to such L/C Participant’s Revolving Credit Commitment
Percentage of the amount of such drawing, or any part thereof, that is not so reimbursed.

 

(b)            If
any amount required to be paid by any L/C Participant to the Issuing Lender pursuant to subsection 5.4(a) in respect of any
unreimbursed portion of any payment made by the Issuing Lender under any Letter of Credit is paid to the Issuing Lender within three
Business Days after the date such payment is due, such L/C Participant shall pay to the Issuing Lender on demand an amount equal to the
product of (i) such amount, times (ii) the daily average NYFRB Rate during the period from and including the date such payment
is required to the date on which such payment is immediately available to the Issuing Lender, times (iii) a fraction the numerator
of which is the number of days that elapse during such period and the denominator of which is 360. If any such amount required to be
paid by any L/C Participant pursuant to subsection 5.4(a) is not made available to the Issuing Lender by such L/C Participant
within three Business Days after the date such payment is due, the Issuing Lender shall be entitled to recover from such L/C Participant,
on demand, such amount with interest thereon calculated from such due date at the rate per annum applicable to ABR Loans. A certificate
of the Issuing Lender submitted through the Administrative Agent to any L/C Participant with respect to any amounts owing under this
Section shall be conclusive in the absence of manifest error.

 

(c)            Whenever,
at any time after the Issuing Lender has made payment under any Letter of Credit and has received from any L/C Participant its pro
rata share of such payment in accordance with subsection 5.4(a), the Administrative Agent receives any payment related to
such Letter of Credit (whether directly from the Borrower or otherwise, including proceeds of collateral applied thereto by the Issuing
Lender), or any payment of interest on account thereof, the Administrative Agent will distribute to such L/C Participant its pro rata
share thereof; provided, however, that in the event that any such payment received by the Issuing Lender shall be required
to be returned by the Issuing Lender, such L/C Participant shall return to the Issuing Lender through the Administrative Agent the portion
thereof previously distributed by the Issuing Lender to it.

 

    - 60 -

     

    

 

5.5.          Reimbursement
Obligation of the Borrower. The Borrower agrees to reimburse the Issuing Lender through the Administrative Agent on the Business
Day next succeeding the Business Day on which the Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount
of a drawing under any Letter of Credit paid by the Issuing Lender for the amount of (a) such drawing so paid and (b) any taxes,
fees, charges or other costs or expenses incurred by the Issuing Lender in connection with such payment. Each such payment shall be made
to the Issuing Lender in Dollars and in immediately available funds. Interest shall be payable on any such amounts from the date on which
the relevant drawing is paid until payment in full at the rate set forth in (i) until the Business Day next succeeding the date
of the relevant notice, subsection 3.4(b) and (ii) thereafter, subsection 3.4(e). Each drawing under any Letter
of Credit shall (unless an event of the type described in clause (i) or (ii) of subsection 10(g) shall have occurred
and be continuing with respect to the Borrower, in which case the procedures specified in subsection 5.4 for funding by L/C Participants
shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to subsection 2.2 of ABR
Loans in the amount of such drawing (and the minimum borrowing amount in such subsection shall not apply to such borrowing). The Borrowing
Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to
subsection 2.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives
notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

 

5.6.          Obligations
Absolute. The Borrower’s obligations under this Section 5 shall be absolute and unconditional under any and all
circumstances and irrespective of any setoff, counterclaim or defense to payment that the Borrower may have or have had against the Issuing
Lender, any beneficiary of a Letter of Credit or any other Person. The Borrower also agrees with the Issuing Lender that the Issuing
Lender shall not be responsible for, and the Borrower’s Reimbursement Obligations under subsection 5.5 shall not be affected
by, among other things, the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in
fact prove to be invalid, fraudulent or forged, or any dispute between or among the Borrower and any beneficiary of any Letter of Credit
or any other party to which such Letter of Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary
of such Letter of Credit or any such transferee. The Issuing Lender shall not be liable for any error, omission, interruption or delay
in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except
for errors or omissions found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross
negligence or willful misconduct of the Issuing Lender. The Borrower agrees that any action taken or omitted by the Issuing Lender under
or in connection with any Letter of Credit or the related drafts or documents, if done in the absence of gross negligence or willful
misconduct and in accordance with the standards of care specified in the Uniform Commercial Code of the State of New York, shall be binding
on the Borrower and shall not result in any liability of the Issuing Lender to the Borrower.

 

5.7.          Letter
of Credit Payments. If any drawing shall be presented for payment under any Letter of Credit, the Issuing Lender shall, promptly
following its receipt thereof, examine all documents purporting to represent a demand for payment under such Letter of Credit. Such Issuing
Lender shall promptly after such examination notify the Administrative Agent and the Borrower in writing of such demand for payment and
whether such Issuing Lender has made or will make payment thereunder; provided that any failure to give or delay in giving such notice
shall not relieve the Borrower of its obligation to reimburse such Issuing Lender and L/C Participant with respect to any such payment
under Letter of Credit. The responsibility of the Issuing Lender to the Borrower in connection with any drawing presented for payment
under any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to
determining that the documents (including each drawing) delivered under such Letter of Credit in connection with such presentment are
substantially in conformity with such Letter of Credit.

 

    - 61 -

     

    

 

5.8.          Applications.
To the extent that any provision of any Application related to any Letter of Credit is inconsistent with the provisions of this Section 5,
the provisions of this Section 5 shall apply.

 

5.9.          Reimbursement
Obligations for Certain Letters of Credit Denominated in Currencies Other Than Dollars. Notwithstanding any other provision of this
Section 5, in the event that any Letter of Credit is denominated in any currency other than Dollars, the amount of the Reimbursement
Obligation of the Borrower pursuant to subsection 5.5 in respect of such Letter of Credit shall bear interest as provided in subsection
5.5 with respect to amounts owing in Dollars; provided, that (i) the interest rate on such amounts shall be the rate
reasonably determined by the Issuing Lender to be the equivalent rate, in respect of the relevant non-Dollar currency, to the applicable
rate provided in subsection 5.5 with respect to amounts denominated in Dollars and (ii) if the Borrower fails to pay any
such Reimbursement Obligation required by subsection 5.5 on or prior to the third Business Day following the date of the drawing
to which such Reimbursement Obligation relates, then, on the fourth Business Day following such date of drawing, the relevant Issuing
Lender, in cooperation with the Administrative Agent, shall determine the Dollar Equivalent of the amount of such Reimbursement Obligation,
and the Borrower’s obligation in respect of such Reimbursement Obligation shall be converted to such Dollar Equivalent, with interest
thereon as provided in subsection 5.5 (provided, that if the Application in respect of such Letter of Credit provides for
conversion of such amount into Dollars on any earlier date or at any other conversion rate, the provisions hereunder shall control with
respect to such conversion).

 

5.10.        Replacement
of Issuing Lenders. An Issuing Lender may be replaced at any time by written agreement among the Borrower, the Administrative Agent,
the replaced Issuing Lender and the successor Issuing Lender. The Administrative Agent shall notify the Lenders of any such replacement
of an Issuing Lender. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the
account of the replaced Issuing Lender. From and after the effective date of any such replacement, (x) the successor Issuing Lender
shall have all the rights and obligations of Issuing Lenders under this Agreement with respect to Letters of Credit to be issued thereafter
and (y) references herein to the term “Issuing Lender” shall be deemed to refer to such successor or to any previous
Issuing Lenders, or to such successor and all previous Issuing Lenders, as the context shall require. After the replacement of an Issuing
Lender hereunder, the replaced Issuing Lender shall remain a party hereto and shall continue to have all the rights and obligations of
an Issuing Lender under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required
to issue additional Letters of Credit.

 

SECTION 6

 

REPRESENTATIONS
AND WARRANTIES

 

To induce the Administrative Agent and the Lenders
to enter into this Agreement and to make the Loans and issue or participate in the Letters of Credit, the Borrower hereby represents
and warrants to the Administrative Agent, each Issuing Lender and each Lender that:

 

6.1.          Financial
Condition. The consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at each of December 31, 2019
and December 31, 2020 and the related consolidated statements of operations and of cash flows for the fiscal years ended on such
dates, reported on by Ernst & Young LLP, copies of which have heretofore been furnished to each Lender, are complete and correct
and present fairly the consolidated financial condition of the Borrower and its consolidated Subsidiaries as at such dates, and the consolidated
results of their operations and their consolidated cash flows for the fiscal years then ended. The unaudited consolidated balance sheet
of the Borrower and its consolidated Subsidiaries as at the date of the Borrower’s most recent publicly available Form 10-Q
and the related unaudited consolidated statements of operations and of cash flows for the fiscal period ended on such date, certified
by a Responsible Officer, copies of which have heretofore been furnished to each Lender, are complete and materially correct and present
fairly (subject to normal year-end audit adjustments) the consolidated financial condition of the Borrower and its consolidated Subsidiaries
as at such date, and the consolidated results of their operations and their consolidated cash flows for the fiscal period then ended.
All such annual financial statements, including the related schedules and notes thereto, were, as of the date prepared, prepared in accordance
with GAAP applied consistently throughout the periods involved (except as approved by such accountants or Responsible Officer, as the
case may be, and as disclosed therein). The quarterly financial statements have been prepared in accordance with generally accepted accounting
principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X under
the Securities Act of 1933. Accordingly, such quarterly financial statements do not include all of the information and footnotes required
by GAAP for complete financial statements. In the opinion of the Borrower, all adjustments (consisting only of normal recurring accruals)
considered necessary for a fair presentation have been included. Neither the Borrower nor any of its consolidated Subsidiaries had, at
the date of the most recent balance sheet referred to above, any of the following except as disclosed in the Borrower’s Form 10-K
and 10-Q filings: any material Guarantee Obligation, material contingent liability or material liability for taxes, or any material long-term
lease or material unusual forward or long-term commitment, including, without limitation, any interest rate or foreign currency swap
or exchange transaction, which is not reflected in the foregoing financial statements or in the notes thereto.

 

    - 62 -

     

    

 

6.2.          Corporate
Existence; Compliance with Law. Each of the Borrower and its Subsidiaries (a) is duly organized, validly existing and in good
standing under the laws of the jurisdiction of its organization, (b) has the corporate power and authority, and the legal right,
to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged,
(c) is duly qualified as a foreign corporation and in good standing under the laws of each jurisdiction where its ownership, lease
or operation of property or the conduct of its business requires such qualification and (d) is in compliance with all Requirements
of Law, except to the extent that the failure of the foregoing clauses (a) and (b) (in each such case, only with respect to
Subsidiaries of the Borrower), (c) and (d) to be true and correct could not, in the aggregate, reasonably be expected to have
a Material Adverse Effect.

 

6.3.          Corporate
Power; Consents and Authorization; Enforceable Obligations. The Borrower has the corporate power and authority, and the legal right,
to make, deliver and perform the Loan Documents to which it is a party and to borrow hereunder and has taken all necessary corporate
action to (i) authorize the borrowings on the terms and conditions of this Agreement, any Notes and any Applications, (ii) to
authorize the execution, delivery and performance of the Loan Documents to which it is a party and (iii) in the case of the Borrower,
to guarantee all Obligations of any Foreign Subsidiary Borrower hereunder. No consent or authorization of, filing with, notice to or
other act by or in respect of, any Governmental Authority (including, without limitation, exchange control) or any other Person is required
with respect to the Borrower or any of its Subsidiaries in connection with the borrowings or guarantee hereunder or with the execution,
delivery, performance, validity or enforceability of the Loan Documents to which the Borrower is party. This Agreement and each other
Loan Document to which the Borrower is, or is to become, a party has been or will be, duly executed and delivered on behalf of the Borrower.
This Agreement and each other Loan Document to which the Borrower is, or is to become, a party constitutes or will constitute, a legal,
valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, subject to the effects of
bankruptcy, examination, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting
creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied
covenant of good faith and fair dealing.

 

    - 63 -

     

    

 

6.4.          No
Legal Bar. The execution, delivery and performance of the Loan Documents, the borrowings hereunder and the use of the proceeds thereof
will not violate any Requirement of Law or Contractual Obligation of the Borrower or of any of its Subsidiaries which could reasonably
be expected to have a Material Adverse Effect and will not result in, or require, the creation or imposition of any Lien on any of its
or their respective properties or revenues pursuant to any such Requirement of Law or Contractual Obligation which could reasonably be
expected to have a Material Adverse Effect.

 

6.5.          No
Default. Neither the Borrower nor any of its Subsidiaries is in default under or with respect to any of its Contractual Obligations
in any respect which could reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and
is continuing.

 

6.6.          Taxes.
Each of the Borrower and its Subsidiaries has filed or caused to be filed all tax returns which, to the knowledge of the Borrower,
are required to be filed and has paid all taxes shown to be due and payable on said returns or on any assessments made against it (other
than any the amount or validity of which are currently being contested in good faith by appropriate proceedings and with respect to which
reserves in conformity with GAAP have been provided on the books of the Borrower or its Subsidiaries, as the case may be), except to
the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect.

 

6.7.          Federal
Regulations. No part of the proceeds of any Loans will be used in any manner that would violate Regulation U of the Board as now
and from time to time hereafter in effect.

 

6.8.          ERISA.
Neither a Reportable Event nor a failure to meet the minimum funding standards (within the meaning of Section 302 of ERISA),
whether or not waived, has occurred during the five-year period prior to the date on which this representation is made or deemed made
with respect to any Plan other than a Multiemployer Plan, and each Plan has complied in all respects with the applicable provisions of
ERISA and the Code, where the liability could be reasonably expected to result in a Material Adverse Effect; provided, however,
that with respect to any Multiemployer Plan, such representation is made only to the knowledge of the Borrower. No termination of a Single
Employer Plan pursuant to Section 4041(c) or 4042 of ERISA has occurred, and no Lien in favor of the PBGC or a Plan has arisen,
during such five-year period. There has been no determination that any Single Employer Plan is, or is reasonably expected to be, in “at
risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA). Neither the Borrower nor any Commonly
Controlled Entity has had a complete or partial withdrawal from any Multiemployer Plan that has resulted in liability and to the knowledge
of the Borrower, neither the Borrower nor any Commonly Controlled Entity would become subject to any liability under ERISA if the Borrower
or any such Commonly Controlled Entity were to withdraw completely from all Multiemployer Plans as of the valuation date most closely
preceding the date on which this representation is made or deemed made which liability could be reasonably expected to result in a Material
Adverse Effect. To the Borrower’s knowledge, no Multiemployer Plan is in Insolvency or in “endangered” or “critical”
status (within the meaning of Section 432 of the Code or Section 305 of ERISA).

 

6.9.          Investment
Company Act; Other Regulations. The Borrower is not required to be registered as an “investment company” within the meaning
of the Investment Company Act of 1940, as amended. The Borrower is not subject to regulation under any Federal or State statute or regulation
(other than Regulation X of the Board) which limits its ability to incur Indebtedness.

 

    - 64 -

     

    

 

6.10.        Purpose
of Loans. The proceeds of the Loans shall be used to finance working capital and general corporate needs of the Borrower and its
Subsidiaries, including but not limited to acquisitions.

 

6.11.        Environmental
Matters. Except to the extent that the failure of the following statements to be true and correct could not reasonably be expected
to have a Material Adverse Effect:

 

(a)            The
facilities and properties owned, leased or operated by the Borrower or any of its Subsidiaries (the “Properties”)
do not contain, and have not previously contained, any Materials of Environmental Concern in amounts or concentrations which (i) constitute
or constituted a violation of, or (ii) could reasonably be expected to give rise to liability under, any Environmental Law.

 

(b)            The
Properties and all operations at the Properties are in compliance, and have in the last five years been in compliance, in all material
respects with all applicable Environmental Laws, and there is no contamination at, under or about the Properties or violation of any
Environmental Law with respect to the Properties or the business operated by the Borrower or any of its Subsidiaries (the “Business”)
which could reasonably be expected to materially interfere with the continued operation of the Properties or Business or materially impair
the fair saleable value thereof.

 

(c)            Neither
the Borrower nor any of its Subsidiaries has received any notice of violation, alleged violation, non-compliance, liability or potential
liability regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the Business,
nor does the Borrower have knowledge or reason to believe that any such notice will be received or is being threatened.

 

(d)            Materials
of Environmental Concern have not been transported or disposed of from the Properties in violation of, or in a manner or to a location
which could reasonably be expected to give rise to liability under, any Environmental Law, nor have any Materials of Environmental Concern
been generated, treated, stored or disposed of at, on or under any of the Properties in violation of, or in a manner that could reasonably
be expected to give rise to liability under, any applicable Environmental Law.

 

(e)            No
judicial proceeding or governmental or administrative action is pending or, to the knowledge of the Borrower, threatened, under any Environmental
Law to which the Borrower or any Subsidiary is or will be named as a party with respect to the Properties or the Business, nor are there
any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial requirements
outstanding under any Environmental Law with respect to the Properties or the Business.

 

(f)            There
has been no release or threat of release of Materials of Environmental Concern at or from the Properties, or arising from or related
to the operations of the Borrower or any Subsidiary in connection with the Properties or otherwise in connection with the Business, in
violation of, or in amounts or in a manner that could reasonably be expected to give rise to liability under, Environmental Laws.

 

6.12.        Disclosure.
The statements and information contained herein and in any of the information provided to the Administrative Agent or the Lenders
in writing in connection with this Agreement, taken as a whole, do not contain any untrue statement of any material fact, or omit to
state a fact necessary in order to make such statements or information not misleading in any material respect, in each case in light
of the circumstances under which such statements were made or information provided as of the date so provided.

 

    - 65 -

     

    

 

 

6.13.           No
Change. There has been no change, effect, event, occurrence, state of facts or development which individually or in the aggregate
has had or would reasonably be expected to result in a Material Adverse Effect since the Form 10-Q or Form 10-K most recently
filed by the Borrower with the Securities and Exchange Commission.

 

6.14.           No
Material Litigation. There are no actions, suits, proceedings, claims or disputes pending at law, in equity, in arbitration or before
any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their 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 on the Form 10-Q or Form 10-K most recently filed by the Borrower with the Securities
and Exchange Commission, either individually or in the aggregate could reasonably be expected to have a Material Adverse Effect.

 

6.15.           Anti-Corruption
Laws and Sanctions. The Borrower has implemented and maintains in effect policies and procedures reasonably designed to promote compliance
by the Borrower, its Subsidiaries and their respective directors, officers and employees with Anti-Corruption Laws and Sanctions applicable
to the Borrower, its Subsidiaries and their respective directors, officers and employees, and the Borrower, its Subsidiaries and their
respective officers and directors and to the knowledge of the Borrower its employees are in compliance with Anti-Corruption Laws and
applicable Sanctions in all material respects. None of (a) the Borrower, any Subsidiary or, to the Borrower’s knowledge, any
of their respective directors or officers or (b) to the Borrower’s knowledge, any of the Borrower’s or such Subsidiary’s
respective employees is a Sanctioned Person or organized or resident in a Sanctioned Country. No Borrowing or Letter of Credit or use
of proceeds contemplated by this Agreement will be used by the Borrower or any of its Subsidiaries directly or to its knowledge indirectly
in violation of applicable Anti-Corruption Laws or applicable Sanctions.

 

SECTION 7

CONDITIONS PRECEDENT

 

7.1.              Conditions
to Closing. The effectiveness of this Agreement is subject to the satisfaction on the Closing Date of the following conditions precedent:

 

(a)                Credit
Agreement. The Administrative Agent shall have received this Agreement, executed and delivered by a duly authorized officer of each
Lender and the Borrower, with a counterpart for each Lender and original Notes executed by the Borrower (in the case of Revolving Credit
Notes, Multicurrency Notes or CAF Advance Notes), in favor of each Lender requesting a Note.

 

(b)               Closing
Certificate. The Administrative Agent shall have received a certificate of the Borrower, dated the Closing Date, substantially in
the form of Exhibit F, with appropriate insertions and attachments, satisfactory in form and substance to the Administrative
Agent, executed by the President or any Vice President and the Secretary or any Assistant Secretary of the Borrower.

 

(c)                Representations
and Warranties. Each of the representations and warranties made by the Borrower in or pursuant to the Loan Documents shall be true
and correct in all material respects on and as of the Closing Date as if made on and as of the Closing Date.

 

(d)               Legal
Opinions. The Administrative Agent shall have received, with a counterpart for each Lender, the executed legal opinion of counsel
to the Borrower (which may be delivered in part by in-house counsel to the Borrower), covering the matters set forth in Exhibit G.
Each such legal opinion shall cover such other matters incident to the transactions contemplated by this Agreement as the Administrative
Agent may reasonably require.

 

    - 66 - 

     

    

 

(e)                Fees.
All accrued fees and reasonable out-of-pocket expenses (including the reasonable fees and expenses of counsel to the Arrangers) of the
Arrangers through the Closing Date invoiced with reasonable detail at least three Business Days prior to the Closing Date in connection
with the Loan Documents shall have been paid; provided that the Arrangers shall have provided an estimate and available reasonable
detail five business days prior to the Closing Date.

 

(f)                Financial
Statements. The Administrative Agent shall have received an unaudited consolidated balance sheet of the Borrower and its consolidated
Subsidiaries and the related unaudited consolidated statements of operations and of cash flows for each fiscal quarter ended after December 31,
2020 (so long as such fiscal quarters have ended at least 40 days prior to the Closing Date). The Borrower’s filing of any required
unaudited financial statements with respect to the Borrower on Form 10-Q will satisfy the requirements under this paragraph.

 

(g)               No
Default. No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Loans requested
to be made, or Letters of Credit requested to be issued.

 

(h)               No
conflicts. No law or regulation shall be applicable in the reasonable judgment of the Lenders that restrains, prevents or imposes
material adverse conditions upon the Transactions or this Agreement. All requisite governmental authorities and third parties shall have
approved or consented to the Transactions and the other transactions contemplated hereby to the extent required (without the imposition
of any materially burdensome condition or qualification in the reasonable judgment of the Lenders) and all such approvals shall be in
full force and effect. The Transactions shall be in compliance with all applicable laws and regulations.

 

(i)                Termination
of Existing Credit Facilities. Evidence that all principal amounts, interest, fees and other amounts owed under the Borrower’s
Existing Credit Facilities shall have been paid in full on or before the Closing Date and all commitments and agreements with respect
thereto shall have been terminated.

 

(j)                 Know
Your Customer Information. The Administrative Agent shall have received at least three Business Days prior to the Closing Date all
documentation and other information about the Borrower as has been reasonably requested by the Administrative Agent at least 10 Business
Days prior to the Closing Date that is required by regulatory authorities under applicable “know your customer” and anti-money
laundering rules and regulations, including without limitation the USA PATRIOT Act.

 

7.2.              Conditions
to Each Loan and Letter of Credit. The agreement of each Lender to make any Loan requested to be made by it on any date following
the Closing Date, or to issue any Letter of Credit, is subject to the satisfaction of the following conditions precedent:

 

(a)                Representations
and Warranties. Each of the representations and warranties (except for those made in subsection 6.13 and 6.14, which
shall be made only on the Closing Date and on each Termination Date which a Borrower has requested be extended in accordance with subsection
2.20) made by the Borrower in or pursuant to the Loan Documents shall be true and correct in all material respects on and as of such
date as if made on and as of such date.

 

(b)               No
Default. No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Loans requested
to be made, or Letters of Credit requested to be issued.

 

    - 67 - 

     

    

 

(c)                Each
borrowing by the Borrower hereunder, and each request by the Borrower for the issuance of a Letter of Credit shall constitute a representation
and warranty by the Borrower as of the date thereof that the conditions contained in this subsection have been satisfied.

 

SECTION 8

 

AFFIRMATIVE
COVENANTS

 

The Borrower hereby agrees that, so long as the
Commitments (or any of them) remain in effect, any Letter of Credit is outstanding or any amount is owing to any Lender, and Issuing Lender
or the Administrative Agent hereunder or under any other Loan Documents, the Borrower shall and (except in the case of delivery of financial
information, reports and notices) shall cause each of its Subsidiaries to:

 

8.1.              Financial
Statements. Furnish to each Lender:

 

(a)                as
soon as available, but in any event not later than 20 days after required to be filed with the Securities and Exchange Commission at the
end of each fiscal year of the Borrower, a copy of the consolidated balance sheet of the Borrower and its consolidated Subsidiaries as
at the end of such year and the related consolidated statements of operations and stockholders’ equity and of cash flows for such
year, setting forth in each case in comparative form the figures for the previous year, reported on without a “going concern”
or like qualification or exception, or qualification arising out of the scope of the audit, by Ernst & Young LLP or other independent
certified public accountants of nationally recognized standing;

 

(b)               as
soon as available, but in any event not later than 15 days after required to be filed with the Securities and Exchange Commission at the
end of each of the first three quarterly periods of each fiscal year of the Borrower commencing with the fiscal quarter ending on or about
March 31, 2021, the unaudited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such
quarter and the related unaudited consolidated statements of operations for such quarter and the portion of the fiscal year through the
end of such quarter and of cash flows of the Borrower and its consolidated Subsidiaries for the portion of the fiscal year through the
end of such quarter, setting forth in each case in comparative form the figures for the previous year, certified by a Responsible Officer
as being fairly stated in all material respects (subject to normal year-end audit adjustments); and

 

(c)                all
such financial statements shall be complete and correct in all material respects and shall be prepared in reasonable detail and in accordance
with GAAP applied consistently throughout the periods reflected therein and with prior periods (except as approved by such accountants
or officer, as the case may be, and disclosed therein); provided, that it is hereby acknowledged that the quarterly financial statements
delivered pursuant to paragraph (b) above may not include all of the information and footnotes required by GAAP for complete annual
financial statements.

 

Any financial statement required to be furnished pursuant to this subsection
8.1 may be delivered electronically and if so delivered, shall be deemed to have been furnished on the earlier of the date (i) on
which the Borrower posts such documents, or provides a link thereto on the Borrower’s website at the website address listed in subsection
13.2(a), (ii) on which such documents are posted on the Securities and Exchange Commission’s website (www.sec.gov), or
(iii) on which such documents are posted on the Borrower’s behalf on any website to which each Lender and Administrative Agent
have access (whether a commercial, third-party website such as Intralinks or DebtDomain or whether sponsored by the Administrative Agent);
provided that the Borrower shall give notice (which may be in the form of facsimile or electronic mail) of any such posting to
the Administrative Agent (who shall then give notice of any such posting to the Lenders). Notwithstanding the foregoing, the Borrower
shall deliver paper copies of any financial statement referred to in this subsection 8.1 to the Administrative Agent if the Administrative
Agent or any Lender requests the Borrower to furnish such paper copies until written notice to cease delivering such paper copies is given
by the Administrative Agent.

 

    - 68 - 

     

    

 

8.2.              Certificates;
Other Information. Furnish to the Administrative Agent with sufficient copies for the Lenders:

 

(a)                concurrently
with the delivery of the financial statements referred to in subsections 8.1(a) and 8.1(b), a certificate of a Responsible
Officer stating that such Officer has obtained no knowledge of any Default or Event of Default that has occurred and is continuing except
as specified in such certificate, and including calculations demonstrating compliance with subsection 9.1 (which
delivery may, unless the Administrative Agent, or a Lender requests executed originals, be by electronic communication including fax
or email and shall be deemed to be an original authentic counterpart thereof for all purposes);

 

(b)               within
ten days after the same are sent, copies of all financial statements and reports which the Borrower sends to its stockholders, and within
five days after the same are filed, copies of all financial statements and reports which the Borrower may make to, or file with, the Securities
and Exchange Commission or any successor or analogous Governmental Authority, and promptly after the same are issued, copies of all press
releases issued by the Borrower; and

 

(c)                promptly,
such additional financial and other information as any Lender may from time to time reasonably request, including information for purposes
of compliance with applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot
Act and the Beneficial Ownership Regulation, as reasonably requested by the Lenders.

 

The Borrower hereby acknowledges that (a) the
Administrative Agent and/or the Arrangers may make available to the Lenders and the Issuing Lender materials and/or information provided
by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on
IntraLinks or another similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a “Public
Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates,
or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect
to such Persons’ securities. The Borrower hereby agrees that (a) all Borrower Materials that are to be made available to Public
Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC”
shall appear prominently on the first page thereof; (b) by marking Borrower Materials “PUBLIC,” the Borrower shall
be deemed to have authorized the Administrative Agent, the Arrangers, the Issuing Lender and the Lenders to treat such Borrower Materials
as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States Federal
and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information (as defined
in subsection 13.14), they shall be treated as set forth in subsection 13.14); (c) all Borrower Materials marked “PUBLIC”
are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (d) the
Administrative Agent and the Arrangers shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being
suitable only for posting on a portion of the Platform not designated “Public Side Information.”

 

8.3.             Payment
of Obligations. Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all
its obligations of whatever nature, (other than where the amount or validity thereof is currently being contested in good faith by appropriate
proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries,
as the case may be) except to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect.

 

    - 69 - 

     

    

 

8.4.              Conduct
of Business and Maintenance of Existence. (a) Continue to engage in business of the same general type as conducted by it on
the Closing Date; (b) preserve, renew and keep in full force and effect its corporate existence (except as could not in the aggregate
be reasonably expected to have a Material Adverse Effect); (c) take all reasonable action to maintain all rights, privileges and
franchises necessary or desirable in the normal conduct of its business except as otherwise permitted pursuant to subsection 9.4;
and (d) comply with all Requirements of Law except to the extent that failure to comply therewith could not, in the aggregate, be
reasonably expected to have a Material Adverse Effect.

 

8.5.              Maintenance
of Property; Insurance. Keep all property necessary in its business in good working order and condition except to the extent that
failure to do so could not, in the aggregate, be reasonably expected to have a Material Adverse Effect; maintain with financially sound
and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks as are adequate
for conducting its business; and furnish to each Lender, upon written request, full information as to the insurance carried.

 

8.6.              Inspection
of Property; Books and Records; Discussions. Keep proper books of records and account in which full, true and correct entries in
conformity with GAAP and all Requirements of Law shall be made of all dealings and transactions in relation to its business and activities;
and permit representatives of any Lender (upon reasonable advance notice coordinated through the Administrative Agent) to visit and inspect
any of its properties and examine and make abstracts from any of its books and records at any reasonable time and as often as may reasonably
be desired and to discuss the business, operations, properties and financial and other condition of the Borrower and its Subsidiaries
with officers and employees of the Borrower and its Subsidiaries and with its independent certified public accountants.

 

8.7.              Notices.
Promptly give notice (unless available in the public filings or releases of the Borrower or its Subsidiaries) to the Administrative
Agent and each Lender of:

 

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

 

(b)               any
(i) default or event of default under any Contractual Obligation of the Borrower or any of its Subsidiaries or (ii) litigation,
investigation or proceeding which may exist at any time involving the Borrower or any of its Subsidiaries, which in either case, could
reasonably be expected to have a Material Adverse Effect; and

 

(c)                the
following events, as soon as reasonably possible and in any event within 30 days after the Borrower knows of the event: (i) the occurrence
or reasonably expected occurrence of any Reportable Event with respect to any Plan, a failure of the Borrower, its Subsidiaries or a Commonly
Controlled Entity to make any required contribution to a Plan, the creation of any Lien in favor of the PBGC or a Plan, any determination
that a Single Employer Plan is in “at risk” status (within the meaning of Section 430 of the Code or Section 303
of ERISA), or any withdrawal by the Borrower or a Commonly Controlled Entity from, or the termination or Insolvency of, any Multiemployer
Plan or determination that any Multiemployer Plan is in “endangered” or “critical” status (within the meaning
of Section 432 of the Code or Section 305 of ERISA); or (ii) the institution of proceedings or the taking of any other
action by the PBGC, the Borrower, any Commonly Controlled Entity or any Multiemployer Plan with respect to the withdrawal by the Borrower
or a Commonly Controlled Entity from, or the termination or Insolvency of, any Plan (other than the termination of any Single Employer
Plan pursuant to Section 4041(b) of ERISA), or with respect to any determination that any Single Employer Plan is in “at
risk” status or any such Multiemployer Plan is in “endangered” or “critical” status; where, in connection
with any of the foregoing in clause (i) or (ii), only to the extent the amount of liability the Borrower or any Commonly Controlled
Entity could reasonably be expected to have arising from an event has a Material Adverse Effect.

 

    - 70 - 

     

    

 

Each notice pursuant to this subsection 8.7 shall be accompanied
by a statement of a Responsible Officer setting forth details of the occurrence referred to therein and stating what action the Borrower
proposes to take with respect thereto.

 

SECTION 9

 

NEGATIVE
COVENANTS

 

The Borrower hereby agrees that, so long as the
Commitments (or any of them) remain in effect, any Letter of Credit remains outstanding, or any amount is owing to any Lender, any Issuing
Lender or the Administrative Agent hereunder or under any other Loan Documents, the Borrower shall not, and (except with respect to subsection
9.1) shall not permit any of its Subsidiaries to, directly or indirectly:

 

9.1.              Financial
Covenant. Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as at the last day of any period of four consecutive
fiscal quarters of the Borrower to exceed the Maximum Leverage Ratio.

 

9.2.              Limitation
on Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter
acquired, except for:

 

(a)                Liens
for taxes not yet due or which are being contested in good faith by appropriate proceedings, provided that adequate reserves with
respect thereto are maintained on the books of the Borrower or its Subsidiaries, as the case may be, in conformity with GAAP;

 

(b)               carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business
which are not overdue for a period of more than 60 days or which are being contested in good faith by appropriate proceedings;

 

(c)                pledges
or deposits in connection with workers’ compensation, unemployment insurance and other social security legislation and deposits
securing liability to insurance carriers under insurance or self-insurance arrangements;

 

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

 

(e)                easements,
rights-of-way, restrictions and other similar encumbrances incurred in the ordinary course of business which, in the aggregate, are not
substantial in amount and which do not in any case materially detract from the value of the property subject thereto or materially interfere
with the ordinary conduct of the business of the Borrower or such Subsidiary;

 

(f)                Liens
in existence on the date hereof listed on Schedule 9.2, provided that no such Lien is spread to cover any additional property
after the Closing Date and that the amount of Indebtedness secured thereby is not increased;

 

(g)               Liens
securing Indebtedness of the Borrower and its Subsidiaries incurred to finance the acquisition of fixed or capital assets, provided
that (i) such Liens shall be created substantially simultaneously with the acquisition of such fixed or capital assets, (ii) such
Liens do not at any time encumber any property other than the property financed by such Indebtedness and (iii) the amount of Indebtedness
secured thereby is not increased;

 

    - 71 - 

     

    

 

(h)               Liens
on the property or assets of a corporation which becomes a Subsidiary after the date hereof, provided that (i) such Liens
existed at the time such corporation became a Subsidiary and were not created in anticipation thereof, (ii) any such Lien is not
spread to cover any property or assets of such corporation after the time such corporation becomes a Subsidiary, and (iii) the amount
of Indebtedness secured thereby is not increased;

 

(i)                 Liens
created pursuant to any Receivables Transaction permitted pursuant to subsection 9.3; and

 

(j)                 Liens
(not otherwise permitted hereunder) which secure obligations not exceeding (as to the Borrower and all Subsidiaries) the greater of (i) $500,000,000
and (ii) 7.5% of the Consolidated Tangible Assets, in aggregate amount at any time.

 

9.3.             Limitation
on Indebtedness pursuant to Receivables Transactions. Create, issue, incur, assume, become liable in respect of or suffer to exist
any Indebtedness pursuant to any Receivables Transaction, except for Indebtedness pursuant to all Receivables Transactions in an aggregate
principal amount not exceeding 20% of Consolidated Tangible Assets.

 

9.4.             Limitation
on Fundamental Changes.  Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer
any liquidation or dissolution), consummate a Division as the Dividing Person, or convey, sell, lease, assign, transfer or otherwise
Dispose of, all or substantially all of its property, business or assets, except:

 

(a)                any
Subsidiary of the Borrower may be merged or consolidated with or into the Borrower (provided that the Borrower shall be the continuing
or surviving corporation) or with or into any one or more wholly owned Subsidiaries of the Borrower (provided that the wholly owned
Subsidiary or Subsidiaries shall be the continuing or surviving corporation);

 

(b)               any
Subsidiary of the Borrower that is inactive or no longer needed in the Borrower’s consolidated group structure may be liquidated,
dissolved, or otherwise eliminated under applicable law, so long as any remaining significant assets of such Subsidiary are transferred
to the Borrower or to another of Borrower’s wholly owned Subsidiaries (as a liquidation distribution or otherwise);

 

(c)                the Borrower or any wholly owned Subsidiary of the Borrower may sell, lease,
transfer or otherwise dispose of any or all of its assets (upon voluntary liquidation or otherwise) to the Borrower or any other
wholly owned Subsidiary, and, so long as no Default or Event of Default shall have occurred and be continuing or would occur as a
result thereof, the Borrower or any Subsidiary of the Borrower may sell, lease, transfer or otherwise dispose of any or all of its
assets (upon voluntary liquidation or otherwise) to any non-wholly owned Subsidiary of the Borrower for fair market value;

 

(d)               any
non-wholly owned Subsidiary of the Borrower may sell, lease, transfer or otherwise dispose of any or all of its assets (upon voluntary
liquidation or otherwise) to the Borrower or any wholly owned Subsidiary of the Borrower for fair market value or may sell, lease, transfer
or otherwise dispose of any or all of its assets (upon voluntary liquidation or otherwise) to any other non-wholly owned Subsidiary of
the Borrower; and

 

(e)                the
Borrower or any Subsidiary of the Borrower may be merged or consolidated with or into another Person; provided that the Borrower
or such Subsidiary shall be the continuing or surviving corporation and no Default or Event of Default shall have occurred and be continuing
or would occur as a result thereof (and, in the case of any such transaction involving a Subsidiary, such Subsidiary shall continue to
be a Subsidiary or the Borrower shall have received fair market value therefor as determined by the Board of Directors of the Borrower);
and provided further that the Borrower may not be merged or consolidated with or into any Subsidiary.

 

    - 72 - 

     

    

 

9.5.              Limitation
on Indebtedness of Subsidiaries. Permit any Subsidiaries to, directly or indirectly, create, incur, assume or guaranty, or otherwise
become or remain directly or indirectly liable with respect to, any Indebtedness in excess of 12.5% of Consolidated Tangible Assets in
the aggregate at any time for all such Subsidiaries, except for (i) Indebtedness permitted by subsection 9.3 hereof, (ii) any
Indebtedness of any Subsidiary of the Borrower owing to the Borrower or to any other Subsidiary of the Borrower, (iii) Indebtedness
in existence on the date hereof listed on Schedule 9.5 and (iv) Indebtedness of American Medical Systems Europe B.V. for
so long as American Medical Systems Europe B.V. is a foreign Subsidiary that owns no material assets (including no Capital Stock) and
has no material operations.

 

SECTION 10

 

EVENTS
OF DEFAULT

 

If any of the following events shall occur and
be continuing:

 

(a)               The
Borrower shall fail to pay any principal of any Loan or any Reimbursement Obligation when due in accordance with the terms thereof or
hereof; or the Borrower shall fail to pay any interest on any Loan, or any fee or other amount payable hereunder, within five days after
any such interest or other amount becomes due in accordance with the terms thereof or hereof; or

 

(b)               Any
representation or warranty made or deemed made by the Borrower herein or in any other Loan Document or which is contained in any certificate,
document or financial or other statement furnished by it at any time under or in connection with this Agreement shall prove to have been
incorrect in any material respect on or as of the date made or deemed made; or

 

(c)               The
Borrower shall default in the observance or performance of any covenant contained in subsections 8.4(b), 8.7(a) or
in Section 9; or

 

(d)               The
Borrower shall default in the observance or performance of any agreement contained in Section 12; or

 

(e)               The
Borrower shall default in the observance or performance of any other agreement contained in this Agreement (other than as provided above
in this Section), and such default described in this clause (e) shall continue unremedied for a period of 30 days; or

 

(f)                The
Borrower or any of its Subsidiaries shall: (i) default in any payment of principal of or interest of any Indebtedness (other than
the Loans) or in the payment of any Guarantee Obligation, beyond the period of grace, if any, provided in the instrument or agreement
under which such Indebtedness or Guarantee Obligation was created; or (ii) default in the observance or performance of any other
agreement or condition relating to any such Indebtedness or Guarantee Obligation or contained in any instrument or agreement evidencing,
securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition
is to cause, or to permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Guarantee Obligation (or
a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required,
such Indebtedness to become due prior to its stated maturity or such Guarantee Obligation to become payable; provided, however,
that no Default or Event of Default shall exist under this paragraph unless the aggregate amount of Indebtedness and/or Guarantee Obligations
in respect of which any default or other event or condition referred to in this paragraph shall have occurred shall be equal to at least
$250,000,000; or

 

    - 73 - 

     

    

 

(g)               (i) The
Borrower or any of its Subsidiaries shall commence any case, proceeding or other action (A) under any existing or future law of any
jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, examinership, court protection, reorganization or relief of debtors,
seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization,
arrangement, adjustment, winding-up, liquidation, dissolution, composition, examinership, court protection or other relief with respect
to it or its debts, or (B) seeking appointment of an examiner, receiver, trustee, custodian, conservator or other similar official
for it or for all or any substantial part of its assets, or the Borrower or any of its Subsidiaries shall make a general assignment for
the benefit of its creditors; or (ii) there shall be commenced against the Borrower or any of its Subsidiaries any case, proceeding
or other action of a nature referred to in clause (i) above which (A) results in the entry of an order for relief or any such
adjudication or appointment or (B) remains undismissed, undischarged or unbonded for a period of 60 days; or (iii) there shall
be commenced against the Borrower or any of its Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment,
execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any
such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; or
(iv) the Borrower or any of its Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of,
or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or (v) the Borrower or any of its Subsidiaries
shall generally not or shall admit in writing its inability to, pay its debts as they become due; or

 

(h)               (i) The
Borrower, its Subsidiaries or any Commonly Controlled Entity engages in any “prohibited transaction” (as defined in Section 406
of ERISA or Section 4975 of the Code) involving any Plan, (ii) any Plan fails to meet the minimum funding standards described
in Section 302 of ERISA or any Lien in favor of the PBGC or a Plan arises on the assets of the Borrower or any Commonly Controlled
Entity, (iii) a Reportable Event occurs with respect to, or proceedings shall commence to have a trustee appointed, or a trustee
shall be appointed, to administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or
appointment of a trustee results in the termination of such Plan for purposes of Title IV of ERISA, (iv) any Single Employer Plan
terminates for purposes of Title IV of ERISA, (v) a determination that any Single Employer Plan is, or is expected to be, in “at
risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA), (vi) the Borrower or any Commonly
Controlled Entity incurs any liability in connection with a withdrawal from, or the Insolvency of, a Multiemployer Plan, or a determination
that any Multiemployer Plan is in “endangered” or “critical” status (within the meaning of Section 432 of
the Code or Section 305 of ERISA), or (vii) any other event or condition occurs or exist with respect to a Plan; and in each
case in clauses (i) through (vii) above, such event or condition, together with all other such events or conditions, if any,
could reasonably be expected to have a Material Adverse Effect; or

 

(i)                Any
one judgment or decree shall be entered against the Borrower or any of its Subsidiaries involving in the aggregate a liability (not paid
or in excess of the amount recoverable by insurance) of $250,000,000 (net of any related tax benefit) or more, and such judgment or decree
shall not have been vacated, discharged, stayed or appealed (as long as enforcement is effectively stayed during such appeal or such appeal
is bonded, if required) within 60 days from the entry thereof; or

 

(j)                 (i) Any Person or “group” (within the meaning of Section 13(d) or
14(d) of the Securities Exchange Act of 1934, as amended) (A) shall have acquired beneficial ownership of 40% or more of
any outstanding class of Capital Stock having ordinary voting power in the election of directors of the Borrower (other than Peter
M. Nicholas and John E. Abele or any of their affiliated trust holdings) or (B) shall obtain the power (whether or not
exercised) to elect a majority of the Borrower’s directors; or (ii) the Board of Directors of the Borrower shall not
consist of a majority of Continuing Directors; “Continuing Directors” shall mean the directors of the Borrower on
the Closing Date and each other director, if such other director’s nomination for election to the Board of Directors of the
Borrower is recommended by a majority of the then Continuing Directors;

 

    - 74 - 

     

    

 

then, and in any such event, (A) if such event is an Event of
Default specified in clause (i) or (ii) of paragraph (g) above with respect to the Borrower, automatically the Commitments
shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and
the other Loan Documents (including, without limitation, all amounts of L/C Obligations, whether or not the beneficiaries of the then
outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable, and (B) if
such event is any other Event of Default, either or both of the following actions may be taken: (i) with the consent of the Majority
Lenders, the Administrative Agent may, or upon the request of the Majority Lenders, the Administrative Agent shall, by notice to the Borrower
declare the Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; and (ii) with the consent
of the Majority Lenders, the Administrative Agent may, or upon the request of the Majority Lenders, the Administrative Agent shall, by
notice to the Borrower, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and
the other Loan Documents (including, without limitation, all amounts of L/C Obligations, whether or not the beneficiaries of the then
outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same
shall immediately become due and payable. In the case of each Letter of Credit with respect to which presentment for honor shall not have
occurred at the time of an acceleration pursuant to this paragraph, the Borrower shall at such time Cash Collateralize the L/C Obligations
in an amount (in the currency in which such Letter of Credit is denominated) equal to the then undrawn and unexpired amount of such Letter
of Credit. Amounts held as Cash Collateral shall be applied by the Administrative Agent in accordance with subsection 2.18.

 

SECTION 11

 

THE
AGENTS

 

11.1.           Appointment.
Each Lender hereby irrevocably designates and appoints the Administrative Agent as the agent of such Lender under this Agreement
and the other Loan Documents, and each Lender irrevocably authorizes the Administrative Agent, in such capacity, to take such action
on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties
as are expressly delegated to the Administrative Agent by the terms of this Agreement and the other Loan Documents, together with such
other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Administrative
Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any
Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or
any other Loan Document or otherwise exist against the Administrative Agent.

 

11.2.           Delegation
of Duties. The Administrative Agent may execute any of its duties under this Agreement and the other Loan Documents by or through
agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Administrative
Agent shall not be responsible for the negligence or misconduct of any agents or attorneys in-fact selected by it with reasonable care.

 

    - 75 - 

     

    

 

11.3.           Exculpatory
Provisions. Neither any Agent nor any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates shall be (i) liable
for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other Loan
Document (except for its or such Person’s own gross negligence or willful misconduct) or (ii) responsible in any manner to
any of the Lenders for any recitals, statements, representations or warranties made by the Borrower or any officer thereof contained
in this Agreement or any other Loan Document or in any certificate, report, statement or other document referred to or provided for in,
or received by such Agent under or in connection with, this Agreement or any other Loan Document or for the value, validity, effectiveness,
genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or for any failure of the Borrower or any Foreign
Subsidiary Borrower to perform its obligations hereunder or thereunder. No Agent shall be under any obligation to any Lender to ascertain
or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other
Loan Document, or to inspect the properties, books or records of the Borrower or any Foreign Subsidiary Borrower.

 

11.4.           Reliance
by Administrative Agent. The Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any Note,
writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other
document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons
and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower or any Foreign Subsidiary Borrower),
independent accountants and other experts selected by the Administrative Agent. The Administrative Agent may deem and treat the payee
of any Note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been
filed with the Administrative Agent. The Administrative Agent shall be fully justified in failing or refusing to take any action under
this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Majority Lenders as it deems
appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be
incurred by it by reason of taking or continuing to take any such action. The Administrative Agent shall in all cases be fully protected
in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Majority
Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future
holders of the Loans.

 

11.5.           Notice
of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of
Default hereunder unless the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing
such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Administrative
Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take
such action with respect to such Default or Event of Default as shall be reasonably directed by the Majority Lenders; provided
that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated
to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable
in the best interests of the Lenders.

 

    - 76 - 

     

    

 

11.6.           Non-Reliance
on Administrative Agent and Other Lenders. Each Lender expressly acknowledges that neither the Administrative Agent nor any of its
officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no
act by the Administrative Agent hereafter taken, including any review of the affairs of the Borrower or any Foreign Subsidiary Borrower,
shall be deemed to constitute any representation or warranty by the Administrative Agent to any Lender. Each Lender represents to the
Administrative Agent that it has, independently and without reliance upon the Administrative Agent or any other Lender, and based on
such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations,
property, financial and other condition and creditworthiness of the Borrower and the Foreign Subsidiary Borrowers, if any, and made its
own decision to make its Loans hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without
reliance upon the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and
the other Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property,
financial and other condition and creditworthiness of the Borrower. Except for notices, reports and other documents expressly required
to be furnished to the Lenders by the Administrative Agent hereunder, the Administrative Agent shall not have any duty or responsibility
to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or otherwise),
prospects or creditworthiness of the Borrower or any Foreign Subsidiary Borrower which may come into the possession of the Administrative
Agent or any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates.

 

11.7.           Indemnification.
The Lenders agree to indemnify the Administrative Agent (or sub-agent), in its capacity, any Issuing Lender, in its capacity, and
any Related Party acting for the Administrative Agent (or any sub-agent) or any Issuing Lender in connection with such capacity (to the
extent not reimbursed by the Borrower and without limiting the obligation of the Borrower and the Foreign Subsidiary Borrowers, if any,
to do so), ratably according to their respective Aggregate Exposure Percentages in effect on the date on which indemnification is sought
(or, if indemnification is sought after the date upon which the Commitments shall have terminated and the Loans shall have been paid
in full, ratably in accordance with such Aggregate Exposure Percentages immediately prior to such date), from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever
which may at any time (including, without limitation, at any time following the payment of the Loans) be imposed on, incurred by or asserted
against the Administrative Agent (or any sub-agent), any Issuing Lender or such Related Party in any way relating to or arising out of,
the Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or
the transactions contemplated hereby or thereby or any action taken or omitted by the Administrative Agent (or any sub-agent), any Issuing
Lender or such Related Party under or in connection with any of the foregoing; provided that no Lender shall be liable for the
payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements
which are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence
or willful misconduct of the Administrative Agent (or sub-agent), any Issuing Lender or any Related Party acting for the Administrative
Agent (or any sub-agent) or any Issuing Lender in connection with such capacity. The agreements in this subsection shall survive the
payment of the Loans and all other amounts payable hereunder.

 

11.8.           Administrative
Agent in Its Individual Capacity. The Administrative Agent and its Affiliates may make loans to, accept deposits from and generally
engage in any kind of business with the Borrower or the Foreign Subsidiary Borrower, if any, as though the Administrative Agent were
not the Administrative Agent hereunder and under the other Loan Documents. With respect to the Loans made by it and with respect to any
Letter of Credit issued or participated in by it, the Administrative Agent shall have the same rights and powers under this Agreement
and the other Loan Documents as any Lender and may exercise the same as though it were not the Administrative Agent, and the terms “Lender”
and “Lenders” shall include the Administrative Agent in its individual capacity.

 

    - 77 - 

     

    

 

11.9.           Successor
Administrative Agent. The Administrative Agent may resign as Administrative Agent upon 10 days’ notice to the Lenders. If the
Administrative Agent shall resign as Administrative Agent under this Agreement and the other Loan Documents, then the Majority Lenders
shall appoint from among the Lenders a successor agent for the Lenders, which successor agent (provided that it shall have been approved
by the Borrower), shall succeed to the rights, powers and duties of the Administrative Agent hereunder. Upon the earlier of (i) the
10 day period following the Administrative Agent’s notice of resignation to the Lenders and (ii) the acceptance of a successor’s
appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges
and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its
duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section).
The term “Administrative Agent” shall mean such successor agent, and the former Administrative Agent’s rights, powers
and duties as Administrative Agent shall be terminated, without any other or further act or deed on the part of such former Administrative
Agent or any of the parties to this Agreement or any holders of the Loans. After any retiring Administrative Agent’s resignation
as Administrative Agent, the provisions of this Section 11 shall inure to its benefit as to any actions taken or omitted
to be taken by it while it was Administrative Agent under this Agreement and the other Loan Documents.

 

Any resignation by Wells Fargo as Administrative
Agent pursuant to this section shall also constitute its resignation as Issuing Lender. Upon the acceptance of a successor’s appointment
as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges
and duties of the retiring Issuing Lender, (b) the retiring Issuing Lender shall be discharged from all of their respective duties
and obligations hereunder or under the other Loan Documents, and (c) the successor Issuing Lender 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
the retiring Issuing Lender to effectively assume the obligations of the retiring Issuing Lender with respect to such Letters of Credit.

 

11.10.        The
Arrangers, the Bookrunner and the Documentation Agents. None of the Arrangers, the Bookrunner or the Documentation Agents shall have
any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such.
Without limiting the foregoing, none of the Arrangers, the Bookrunner or the Documentation Agents shall have or be deemed to have any
fiduciary relationship with any Lender. Each Lender acknowledges that it has not relied, and will not rely, on the Arrangers, the Bookrunner
or the Documentation Agents in deciding to enter into this Agreement or in taking or not taking any action hereunder.

 

11.11.         Certain
ERISA Matters.

 

(a)                Each
Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the
date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of the Administrative
Agent, the Arrangers, and the other Agents and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit
of the Borrower, that at least one of the following is and will be true:

 

(i)      
       such Lender is not using “plan assets” (within the meaning of the Plan Asset
Regulations) of one or more Benefit Plans in connection with the Loans or the Commitments,

 

(ii)            the
transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent
qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts),
PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption
for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined
by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and
performance of the Loans, the Commitments and this Agreement,

 

    - 78 - 

     

    

 

(iii)           (A) such
Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE
84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate
in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation in, administration
of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of
Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of
PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the
Loans, the Commitments and this Agreement, or

 

(iv)          such
other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and
such Lender.

 

(b)               In
addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or
(2) a Lender has not provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately
preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to,
and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto,
for the benefit of, the Administrative Agent, the Arrangers, and the other Agents and their respective Affiliates, and not, for the avoidance
of doubt, to or for the benefit of the Borrower, that none of the Administrative Agent, or the Arrangers, or any other Agents or any of
their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in the Loans, the Commitments and this Agreement
(including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document
or any documents related to hereto or thereto).

 

11.12.         Accidental
Payments.

 

(a)                Each
Lender, each Issuing Lender, each other Secured Party and any other party hereto hereby severally agrees that if (i) the Administrative
Agent notifies (which such notice shall be conclusive absent manifest error) such Lender or Issuing Lender or any other Secured Party
(or the Lender Affiliate of a Secured Party) or any other Person that the Administrative Agent has determined in its sole discretion
that has received funds on behalf of a Lender, Issuing Lender, Secured Party or other Person (each such recipient, a “Payment
Recipient”) from the Administrative Agent or any of its Affiliates were erroneously transmitted to, or otherwise erroneously
or mistakenly received by, such Payment Recipient (whether or not known to such Payment Recipient) or (ii) any Payment Recipient receives
any payment from the Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date
from, that specified in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates) with
respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or
repayment sent by the Administrative Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment or (z) that
such Payment Recipient otherwise becomes aware was transmitted or received in error or by mistake (in whole or in part) then, in each
case, an error in payment shall be presumed to have been made (any such amounts specified in clauses (i) or (ii) of this Section 11.12(a),
whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise; individually and collectively,
an “Erroneous Payment”) then such Payment Recipient is deemed to have knowledge of such error at the time of its receipt
of such Erroneous Payment; provided that nothing in this Section shall require the Administrative Agent to provide any of
the notices specified in clauses (i) or (ii) above. Each Payment Recipient shall not assert any right or claim to the Erroneous
Payment, and hereby waives any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim
by the Administrative Agent for the return of any Erroneous Payments, including without limitation waiver of any defense based on “discharge
for value” or any similar doctrine.

 

    - 79 - 

     

    

 

(b)               Without
limiting the immediately preceding clause (a), each Payment Recipient agrees that, in the case of clause (a)(ii) above, it
shall promptly (and, in all events, within one Business Day of its knowledge (or deemed knowledge) of such error) notify the Administrative
Agent in writing of such occurrence.

 

(c)                In
the case of either clause (a)(i) or (a)(ii) above, such Erroneous Payment shall at all times remain the property of the Administrative
Agent and shall be segregated by the Payment Recipient and held in trust for the benefit of the Administrative Agent, and upon demand
from the Administrative Agent such Payment Recipient shall (or, with respect to any Payment Recipient who received such funds on its behalf
shall cause such Payment Recipient to), promptly, but in all events no later than one Business Day thereafter, return to the Administrative
Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made in same day funds and in the currency
so received, together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof)
was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent at the greater of the Federal Funds
Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time
to time in effect.

 

(d)               In
the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand therefor
by the Administrative Agent in accordance with immediately preceding clause (c), from any Lender or Issuing Lender that is a Payment Recipient
(such unrecovered amount as to such Lender or Issuing Lender, an “Erroneous Payment Return Deficiency”), then at the
sole discretion of the Administrative Agent and upon the Administrative Agent’s written notice to such Payment Recipient (i) such
Payment Recipient shall be deemed to have assigned its Loans (but not its Commitments) to the Administrative Agent or, at the option of
the Administrative Agent, the Administrative Agent’s lending affiliate, in a principal amount equal to the Erroneous Payment Return
Deficiency (or such lesser amount as the Administrative Agent may specify) (such assignment of the Loans (but not Commitments), the “Erroneous
Payment Deficiency Assignment”) at par plus any accrued and unpaid interest, without further consent or approval of any party
hereto Without any further payment by the Administrative Agent or its lending affiliate as the assignee of such Erroneous Payment Deficiency
Assignment, and the Administrative Agent may reflect in the Register its ownership interest in the Loans subject to the Erroneous Payment
Deficiency Assignment. As to any Erroneous Payment Deficiency Assignment, the provisions of this clause (d) shall govern in the event
of any conflict with the terms and conditions of Section 13.6. For the avoidance of doubt, no Erroneous Payment Deficiency
Assignment will reduce the Commitments of any Lender or Issuing Bank and such Commitments shall remain available in accordance with the
terms of this Agreement.

 

(e)                Each
party hereto hereby agrees that (x) in the event an Erroneous Payment (or portion thereof) is not recovered from any Payment Recipient
that has received such Erroneous Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the
rights of such Payment Recipient with respect to such amount, (y) the receipt of an Erroneous Payment by a Payment Recipient shall
not for the purpose of this Agreement be treated as a payment, prepayment, repayment, discharge or other satisfaction any Obligations
owed by the Borrower or any other Credit Party and (z) to the extent that an Erroneous Payment was in any way or at any time credited
as payment or satisfaction of any of the Obligations, the Obligations or any part thereof that were so credited, and all rights of the
Payment Recipient, as the case may be, shall be reinstated and continue in full force and effect as if such payment or satisfaction had
never been received.

 

    - 80 - 

     

    

 

(f)                Each
Payment Recipient hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time owing to such Payment
Recipient under any Loan Document, or otherwise payable or distributable by the Administrative Agent to such Payment Recipient from any
source, against any amount due to the Administrative Agent under pursuant to this Section 11.12 or under the indemnification provisions
of this Agreement.

 

(g)               Each
party’s obligations under this Section 11.12 shall survive the resignation or replacement of the Administrative Agent
or any transfer of right or obligations by, or the replacement of, a Lender, the termination of the Commitments or the repayment, satisfaction
or discharge of all Obligations (or any portion thereof) under any Loan Document.

 

SECTION 12

 

GUARANTEE

 

12.1.           Guarantee.

 

(a)               The
Borrower hereby unconditionally and irrevocably guarantees to the Administrative Agent, for the ratable benefit of the Administrative
Agent and the Lenders and their respective successors, endorsees, transferees and assigns, the prompt and complete payment and performance
by the Foreign Subsidiary Borrowers (if any) when due (whether at the stated maturity, by acceleration or otherwise) of the Obligations.

 

(b)               No
payment or payments made by the Borrower or any other Person or received or collected by the Administrative Agent or any Lender from the
Borrower or any other Person by virtue of any action or proceeding or any set-off or appropriation or application, at any time or from
time to time, in reduction of or in payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability
of the Borrower hereunder which shall, notwithstanding any such payment or payments, remain liable hereunder for the Obligations until
the Obligations are paid in full and the Commitments are terminated.

 

(c)               The
Borrower agrees that whenever, at any time, or from time to time, it shall make any payment to the Administrative Agent or any Lender
on account of its liability hereunder, it will notify the Administrative Agent and such Lender in writing that such payment is made under
this Section for such purpose.

 

12.2.           No
Subrogation. Notwithstanding any payment or payments made by the Borrower hereunder, or any set-off or application of funds of the
Borrower by the Administrative Agent or any Lender, the Borrower shall not be entitled to be subrogated to any of the rights of the Administrative
Agent or any Lender against the Foreign Subsidiary Borrowers or against any collateral security or guarantee or right of offset held
by the Administrative Agent or any Lender for the payment of the Obligations, nor shall the Borrower seek or be entitled to seek any
contribution or reimbursement from the Foreign Subsidiary Borrowers in respect of payments made by the Borrower hereunder, until all
amounts owing to the Administrative Agent and the Local Currency Lenders by the Foreign Subsidiary Borrowers on account of the Obligations
are paid in full and the Commitments are terminated. If any amount shall be paid to the Borrower on account of such subrogation rights
at any time when all of the Obligations shall not have been paid in full, such amount shall be held by the Borrower in trust for the
Administrative Agent and the Lenders, segregated from other funds of the Borrower, and shall, forthwith upon receipt by the Borrower,
be turned over to the Administrative Agent in the exact form received by the Borrower (duly indorsed by the Borrower to the Administrative
Agent, if required), to be applied against the Obligations, whether matured or unmatured, in such order as Administrative Agent may determine.
The provisions of this paragraph shall continue to be effective after the termination of this Agreement, the payment in full of the Obligations
and the termination of the Commitments.

 

    - 81 - 

     

    

 

12.3.           Amendments, etc.
with respect to the Obligations; Waiver of Rights. The Borrower shall remain obligated hereunder notwithstanding that, without any
reservation of rights against the Borrower, and without notice to or further assent by the Borrower, any demand for payment of any of
the Obligations made by the Administrative Agent or any Lender may be rescinded by the Administrative Agent or such Lender, and any of
the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or any collateral security
or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended,
modified, accelerated, compromised, waived, surrendered or released by the Administrative Agent or any Lender, and any Loan Documents
and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole
or in part, in accordance with the provisions thereof as the Administrative Agent (or the requisite Lenders, as the case may be) may
deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Administrative Agent
or any Lender for the payment of the Obligations may be sold, exchanged, waived, surrendered or released. None of the Administrative
Agent or any Lender shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the
Obligations or for this Agreement or any property subject thereto. When making any demand hereunder against the Borrower, the Administrative
Agent or any Lender may, but shall be under no obligation to, make a similar demand on the Foreign Subsidiary Borrowers or any other
guarantor, and any failure by the Administrative Agent or any Lender to make any such demand or to collect any payments from a Foreign
Subsidiary Borrower or any such other guarantor or any release of a Foreign Subsidiary Borrower or such other guarantor shall not relieve
the Borrower of its obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied,
or as a matter of law, of the Administrative Agent or any Lender against the Borrower. For the purposes hereof “demand” shall
include the commencement and continuance of any legal proceedings.

 

    - 82 - 

     

    

 

12.4.           Guarantee
Absolute and Unconditional. The Borrower waives any and all notice of the creation, renewal, extension or accrual of any of the Obligations
and notice of or proof of reliance by the Administrative Agent or any Lender upon this Agreement or acceptance of this Agreement; the
Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended
or waived, in reliance upon this Agreement; and all dealings between the Foreign Subsidiary Borrowers and the Borrower, on the one hand,
and the Administrative Agent and the Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in
reliance upon this Agreement. The Borrower waives diligence, presentment, protest, demand for payment and notice of default or nonpayment
to or upon the Foreign Subsidiary Borrowers and the Borrower with respect to the Obligations. This Section 12 shall be construed
as a continuing, absolute and unconditional guarantee of payment without regard to (a) the validity, regularity or enforceability
of this Agreement, any other Loan Document, any of the Obligations or any other collateral security therefor or guarantee or right of
offset with respect thereto at any time or from time to time held by the Administrative Agent or any Lender, (b) any defense, set-off
or counterclaim (other than a defense of payment or performance) which may at any time be available to or be asserted by the Foreign
Subsidiary Borrowers against the Administrative Agent or any Lender, (c) any law, regulation, decree or order of any jurisdiction,
or any other event, affecting the Obligations or any Lender’s rights with respect thereto, including, without limitation: (i) the
application of any such law, regulation, decree or order, including any prior approval, that would prevent the exchange of a non-Dollar
currency for Dollars or the remittance of funds outside of such jurisdiction or the unavailability of Dollars in any legal exchange market
in such jurisdiction in accordance with normal commercial practice; or (ii) a declaration of banking moratorium or any suspension
of payments by banks in such jurisdiction or the imposition by such jurisdiction or any governmental authority thereof of any moratorium
on the required rescheduling or restructuring of, or required approval of payments on, any indebtedness in such jurisdiction; or (iii) any
expropriation, confiscation, nationalization or requisition by such country or any governmental authority that directly or indirectly
deprives the companies in such jurisdiction of any payment obligation under the Obligations; or (iv) any war (whether or not declared),
insurrection, revolution, hostile act, civil strife or similar events occurring in such jurisdiction that has the same effect as the
events described in clause (i), (ii) or (iii) above (in each of the cases contemplated in clauses (i) through (iv) above,
to the extent occurring or existing on or at any time after the date of this Agreement), or (d) any other circumstance whatsoever
(with or without notice to or knowledge of the Foreign Subsidiary Borrowers or the Borrower) which constitutes, or might be construed
to constitute, an equitable or legal discharge of the Foreign Subsidiary Borrowers for the Obligations, or of the Borrower under this
Section 12, in bankruptcy or in any other instance. When pursuing its rights and remedies hereunder against the Borrower,
the Administrative Agent and any Lender may, but shall be under no obligation to, pursue such rights and remedies as it may have against
the Foreign Subsidiary Borrowers or any other Person or against any collateral security or guarantee for the Obligations or any right
of offset with respect thereto, and any failure by the Administrative Agent or any Lender to pursue such other rights or remedies or
to collect any payments from the Borrower or any such other Person or to realize upon any such collateral security or guarantee or to
exercise any such right of offset, or any release of the Foreign Subsidiary Borrowers or any such other Person or of any such collateral
security, guarantee or right of offset, shall not relieve the Borrower of any liability hereunder, and shall not impair or affect the
rights and remedies, whether express, implied or available as a matter of law, of the Administrative Agent or any Lender against the
Borrower. This Section 12 shall remain in full force and effect and be binding in accordance with and to the extent of its
terms upon the Borrower and its successors and assigns, and shall inure to the benefit of the Administrative Agent and the Lenders, and
their respective successors, endorsees, transferees and assigns, until all the Obligations and the obligations of the Borrower under
this Agreement shall have been satisfied by payment in full and the Commitments shall be terminated, notwithstanding that from time to
time during the term of this Agreement the Foreign Subsidiary Borrowers may be free from any Obligations.

 

12.5.           Reinstatement.
This Section 12 shall continue to be effective, or be reinstated, as the case may be, if at any time payment, or any
part thereof, of any of the Obligations is rescinded or must otherwise be restored or returned by the Administrative Agent or any Lender
upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or upon or as a result of the appointment
of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any substantial part of its property,
or otherwise, all as though such payments had not been made.

 

12.6.           Payments.
The Borrower hereby agrees that all payments required to be made by it hereunder will be made to the Administrative Agent without
set-off or counterclaim in accordance with the terms of the Obligations, including, without limitation, in the currency in which payment
is due, provided that if a payment is due in a currency other than Dollars and/or at a place other than the United States, and
such payment is not made as and when agreed, the Borrower will, upon the Administrative Agent’s request, either (i) make payment
in such non- Dollar currency and at the place where such payment is payable or (ii) pay the Administrative Agent in Dollars at the
Administrative Agent’s office referred in Subsection 13.2. In the event of a payment pursuant to clause (ii) above,
the Borrower will pay the Administrative Agent the Dollar Equivalent of the amount of such payment on the date the Borrower makes such
payment.

 

12.7.           “Lenders”.
For all purposes of this Section 12, the term “Lenders” shall be deemed to include Local Currency Lenders.

 

    - 83 - 

     

    

 

SECTION 13

 

MISCELLANEOUS

 

13.1.           Amendments
and Waivers.

 

(a)                Except
as provided in paragraphs (b) and (d) of this subsection 13.1, neither this Agreement nor any other Loan Document, nor
any terms hereof or thereof may be amended, supplemented or modified except in accordance with the provisions of this subsection. The
Majority Lenders may, or, with the written consent of the Majority Lenders, the Administrative Agent may, from time to time, (a) enter
into with the Borrower written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding
any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Borrower hereunder
or thereunder or (b) waive, on such terms and conditions as the Majority Lenders or the Administrative Agent, as the case may be,
may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default
and its consequences; provided, however, that no such waiver and no such amendment, supplement or modification shall (i) reduce
the amount or extend the scheduled date of maturity of any Loan or reduce the stated rate or amount of any interest or fee payable hereunder
(except that any amendment or modification of defined terms used in the financial covenants in this Agreement shall not constitute a reduction
in the rate of interest or fees for purposes of this clause (i)) or extend the scheduled date of any payment thereof or increase the amount
or extend the expiration date of any Lender’s Multicurrency Commitment, Revolving Credit Commitment or Issuing Lender Commitment,
in each case without the consent of each Lender or Issuing Lender, as applicable, directly affected thereby, (ii) amend, modify or
waive any provision of this subsection or reduce the percentages specified in the definitions, of Majority Lenders or Majority Multicurrency
Lenders, or consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the other
Loan Documents or release, subordinate or otherwise materially limit the Borrower’s liability with respect to the guarantee set
forth in Section 12, in each case without the written consent of all the Lenders, (iii) amend, modify or waive any provision
of Section 11 without the written consent of the then Administrative Agent, (iv) waive any condition in subsection
7.2 without the written consent of the Majority Lenders, (v) modify the pro rata distribution of payments, proceeds or fees payable
to the Lenders (except in connection with an amend and extend transaction offered ratably
to all Lenders under a tranche of Commitments) without the consent of each Lender directly affected thereby or (vi) amend, modify
or waive any provision of Section 5 without the written consent of each Lender directly adversely affected thereby. Any such
waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and shall be binding upon the Borrower,
the Lenders, the Administrative Agent and all future holders of the Loans. In the case of any waiver, the Borrower, the Lenders and the
Administrative Agent shall be restored to their former positions and rights hereunder and under the other Loan Documents, and any Default
or Event of Default waived shall be deemed to be cured and not continuing; no such waiver shall extend to any subsequent or other Default
or Event of Default or impair any right consequent thereon.

 

(b)               In
addition to amendments effected pursuant to the foregoing paragraph (a), (i) Schedule II may be amended to change administrative
information contained therein with the approval of the Majority Multicurrency Lenders, upon execution and delivery by the Borrower and
the Administrative Agent of a written amendment providing for such amendment, (ii) additional freely-convertible euro currencies
may be added as Available Foreign Currencies, upon execution and delivery by the Borrower, the Administrative Agent and the Majority Multicurrency
Lenders of an amendment providing for such addition and (iii) this Agreement may be amended by the Borrower and the Administrative
Agent to implement increases in the Revolving Credit Commitments pursuant to subsection 2.17.

 

    - 84 - 

     

    

 

(c)               The
Administrative Agent shall give prompt written notice to each Lender of any amendment effected pursuant to subsection 13.1(b).

 

(d)               Notwithstanding
the provisions of this subsection 13.1, any Local Currency Facility may be amended, supplemented or otherwise modified in accordance
with its terms so long as after giving effect thereto either (x) such Local Currency Facility ceases to be a “Local Currency
Facility” and the Borrower so notifies the Administrative Agent or (y) the Local Currency Facility continues to meet the
requirements of a Local Currency Facility set forth herein.

 

(e)                Notwithstanding
the provisions of this subsection 13.1, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver
or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender
may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any
Defaulting Lender may not be increased or extended and the principal amount owed to such Lender may not be reduced other than pursuant
to payments made by a Borrower with respect thereto without the consent of such Lender and (y) any waiver, amendment or modification
requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other
affected Lenders shall require the consent of such Defaulting Lender.

 

(f)                Notwithstanding
the foregoing, the Administrative Agent, with the consent of the Borrower, may amend, modify or supplement any Loan Document without the
consent of any Lender or the Majority Lenders in order to correct, amend or cure any ambiguity, inconsistency or defect or correct any
typographical error or manifest error in any Loan Document.

 

(g)               If
any Lender is a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative
Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in,
and consents required by, Section 13.6 and payment of amounts due to such Lender under this Agreement), all of its interests,
rights (other than its existing rights to payments pursuant to Section 3.9 or Section 3.10) and obligations under
this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender
or an Affiliate of a Lender, if a Lender or such Affiliate accepts such assignment); provided that the applicable assignee shall
have consented to the applicable amendment, waiver or consent.

 

13.2.           Notices.

 

(a)                General.
All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by facsimile
transmission) and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made (a) in the case of
delivery by hand, when delivered, (b) in the case of delivery by mail, three days after being deposited in the mails, postage prepaid,
or (c) in the case of delivery by facsimile transmission, when sent and receipt has been confirmed, addressed as follows in the case
of the Borrower and the Administrative Agent, and as set forth in Schedule I in the case of the other parties hereto, or to such
other address as may be hereafter notified by the respective parties hereto:

 

If to the Borrower:

 

Boston Scientific Corporation

300 Boston Scientific Way

Marlborough, Massachusetts 01752

Attention:           Daniel J. Brennan

                           Executive
Vice President and Chief Financial Officer

                            and

                            Robert
J. Castagna

                            Vice
President and Treasurer

                            Fax:
508-683-4410

                            www.bostonscientific.com

 

    - 85 - 

     

    

 

 

with a copy to:

 

	Boston Scientific Corporation
	300 Boston Scientific Way
	Marlborough, Massachusetts 01752
	Attention:	Vance Brown
	 	Vice President and Chief Corporate Counsel
	 	Fax: 508-683-5389

Email: legalnotices@bsci.com

 

If to the Administrative Agent (for payments and notices
of borrowings, etc. in Dollars):

 

Wells Fargo Bank, National Association

MAC D01109-019

1525 W. W.T. Harris Blvd.

Charlotte, North Carolina 28262

Attention: Syndication Agency Services

Facsimile No.: 844-879-5899

E-mail: agencyservices.requests@wellsfargo.com

 

If to the Administrative Agent (for payments and notices
of borrowings, etc. in non-Dollars):

 

Wells Fargo Bank, National Association

MAC D01109-019

1525 W. W.T. Harris Blvd.

Charlotte, North Carolina 28262

Attention: Syndication Agency Services

Facsimile No.: 844-879-5899

E-mail: agencyservices.requests@wellsfargo.com

 

If to the Administrative Agent (for other notices):

 

Wells Fargo Bank, National Association

301 S. College Street, 14th Floor

Charlotte, NC 28202

Attn: Darin Mullis

Telephone: (704) 715-4361

E-mail: darin.mullis@wellsfargo.com

 

    - 86 -

     

    

 

For Letters of Credit, to the address provided by the applicable
Issuing Lender to the Borrower for such purpose.

 

provided
that any notice, request or demand to or upon the Administrative Agent or the Lenders pursuant to subsection 2.2, 2.6, 2.9,
2.14, 2.15, or 3.2 shall not be effective until received.

 

(b)            Notices
and other communications to the Lenders and the Issuing Lender hereunder may be delivered or furnished by electronic communication (including
e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing
shall not apply to notices to any Lender or the Issuing Lender pursuant to Section 2, 3, 4 and 5 if such
Lender or the Issuing Lender, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such
Section by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and
other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval
of such procedures may be limited to particular notices or communications.

 

Unless the Administrative Agent otherwise prescribes,
(i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement
from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written
acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient,
such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient,
and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by
the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication
is available and identifying the website address therefor.

 

(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 Administrative Agent or any of
its Affiliates (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender, the Issuing Lender
or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising
out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the
extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and 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 the Borrower, any Lender, the Issuing Lender or any other Person for indirect, special,
incidental, consequential or punitive damages (as opposed to direct or actual damages).

 

13.3.        No
Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of the Administrative Agent or any Lender,
any right, remedy, power or privilege hereunder or under the other Loan Documents shall operate as a waiver thereof; nor shall any single
or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise
of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive
of any rights, remedies, powers and privileges provided by law.

 

    - 87 -

     

    

 

13.4.        Survival
of Representations and Warranties. All representations and warranties made hereunder, in the other Loan Documents and in any document,
certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement
and the making of the Loans hereunder.

 

13.5.        Payment
of Expenses and Taxes. The Borrower agrees (a) to pay or reimburse each of the Arrangers and the Administrative Agent for all
their reasonable and documented out-of-pocket costs and expenses incurred in connection with the development, preparation and execution
of, and any amendment, supplement or modification to, this Agreement and the other Loan Documents and any other documents prepared in
connection herewith or therewith, and the consummation and administration of the transactions contemplated hereby and thereby, including,
without limitation, the reasonable and documented fees and disbursements of outside counsel (including one local counsel in each applicable
jurisdiction) to the Administrative Agent and the Arrangers, (b) to pay or reimburse each Lender, each Issuing Lender, the Arrangers
and the Administrative Agent for all its costs and expenses incurred in connection with the enforcement or preservation of any rights
under this Agreement, the other Loan Documents and any such other documents, including, without limitation, the documented fees and disbursements
of counsel (including the allocated fees and expenses of in house counsel) to each Lender and Issuing Lender and of counsel to the Administrative
Agent and the Arrangers, provided, that in connection with any workout or restructuring, the Borrower shall pay the fees and disbursements
of (i) one U.S. counsel for the Administrative Agent, the Arrangers, the Issuing Lenders and the Lenders pursuant to this clause
(b) and (ii) one counsel to the Administrative Agent, the Arrangers, the Issuing Lenders and the Lenders in the jurisdiction
of each Foreign Subsidiary Borrower pursuant to this clause (b), and, in the case of an actual or perceived conflict of interest where
the indemnified party affected by such conflict informs the Borrower of such conflict and thereafter, retains its own counsel, of another
firm of counsel for such affected indemnified party, (c) to pay, indemnify, and hold each Lender, each Issuing Lender and the Administrative
Agent and each of their affiliates and their respective officer, directors, employees, agents and advisors (each, an “indemnified
party”) harmless from, any and all recording and filing fees and any and all liabilities with respect to, or resulting from
any delay in paying, stamp, excise and other similar taxes, if any, which may be payable or determined to be payable in connection with
the execution and delivery of, or consummation or administration of any of the transactions contemplated by, or any amendment, supplement
or modification of, or any waiver or consent under or in respect of, this Agreement, the other Loan Documents and any such other documents,
and (d) to pay, indemnify, and hold each indemnified party harmless from and against any and all other liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred by
any indemnified party or asserted against any indemnified party by any third party or by the Borrower or any of its Subsidiaries arising
out of, in connection with or as a result of the Transactions (or any transactions related thereto), or the execution, delivery, enforcement,
performance and administration of this Agreement, the other Loan Documents and such other documents, including, without limitation, any
of the foregoing relating to the violation of, noncompliance with or liability under, any Environmental Law applicable to the operations
of the Borrower, any of its Subsidiaries or any of the Properties (all the foregoing in this clause (d), collectively, the “indemnified
liabilities”), provided that the Borrower shall have no obligation hereunder to any indemnified party with respect to
indemnified liabilities arising from the gross negligence or willful misconduct of such indemnified party determined in a court of competent
jurisdiction in a final non-appealable judgment. The agreements in this subsection shall survive repayment of the Loans and all other
amounts payable hereunder and the termination of this Agreement.

 

    - 88 -

     

    

 

13.6.        Successors
and Assigns; Participations and Assignments.

 

(a)            This
Agreement shall be binding upon and inure to the benefit of the Borrower, the Lenders, the Administrative Agent and their respective
successors and assigns, except that the Borrower may not assign or transfer any of its rights or obligations under this Agreement without
the prior written consent of each Lender.

 

(b)            Any
Lender, other than a Conduit Lender, may, in the ordinary course of its commercial banking business and in accordance with applicable
law, at any time sell to one or more banks or other entities (other than a Defaulting Lender, the Borrower or its Affiliates or Subsidiaries
or any natural Person) (“Participants”) participating interests in any Loan owing to such Lender, any Commitment of
such Lender or any other interest of such Lender hereunder and under the other Loan Documents. In the event of any such sale by a Lender
of a participating interest to a Participant, such Lender’s obligations under this Agreement to the other parties to this Agreement
shall remain unchanged, such Lender shall remain solely responsible for the performance thereof, such Lender shall remain the holder of
any such Loan for all purposes under this Agreement and the other Loan Documents, and the Borrower and the Administrative Agent shall
continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement
and the other Loan Documents. No Lender shall be entitled to create in favor of any Participant, in the participation agreement pursuant
to which such Participant’s participating interest shall be created or otherwise, any right to vote on, consent to or approve any
matter relating to this Agreement or any other Loan Document except for those specified in clauses (i) and (ii) of the proviso
to subsection 13.1(a). The Borrower agrees that if amounts outstanding under this Agreement are due or unpaid, or shall have been
declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall, to the maximum extent
permitted by applicable law, be deemed to have the right of set-off in respect of its participating interest in amounts owing under this
Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Lender under this Agreement,
provided that, in purchasing such participating interest, such Participant shall be deemed to have agreed to share with the Lenders
the proceeds thereof as provided in subsection 13.7(a) as fully as if it were a Lender hereunder. The Borrower also agrees
that each Participant shall be entitled to the benefits of subsections 3.9, 3.10 and 3.11 with respect to its participation
in the Commitments and the Loans outstanding from time to time as if it was a Lender; provided that, in the case of subsection
3.10, such Participant shall have complied with the requirements of said subsection, and provided, further, that no
Participant shall be entitled to receive any greater amount pursuant to any such subsection than the transferor Lender would have been
entitled to receive in respect of the amount of the participation transferred by such transferor Lender to such Participant had no such
transfer occurred. Each Lender that sells a participation, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall
maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each
Participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”); provided,
that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity
of any Participant or any information relating to a Participant’s interest in any Commitments, Loans or its other Obligations under
any Loan Document) except to the extent that such disclosure is necessary to establish that such Commitment, Loan or other Obligation
is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register
shall be conclusive absent manifest error, and such Lender, the Borrower and the Administrative Agent shall treat each person whose name
is recorded in the Participant Register pursuant to the terms hereof as the owner of such participation for all purposes of this Agreement,
notwithstanding notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent)
shall have no responsibility for maintaining a Participant Register.

 

    - 89 -

     

    

 

(c)            Any
Lender, other than a Conduit Lender, may, in the ordinary course of its commercial banking business and in accordance with applicable
law, at any time and from time to time, assign (i) to any Lender or any Lender Affiliate with the consent (in each case, not to
be unreasonably withheld, delayed or conditioned) of the Administrative Agent and the Issuing Lender (in the case of assignments of Revolving
Commitments) or (ii) with the consent of the Borrower (unless an Event of Default shall have occurred and be continuing), the Administrative
Agent and Issuing Lender (which consent in each case shall not be unreasonably withheld, delayed or conditioned), to an additional bank,
financial institution, or other entity (an “Assignee”) all or any part of its rights and obligations under this Agreement
and the other Loan Documents pursuant to an Assignment and Assumption, substantially in the form of Exhibit H, executed by
such Assignee, such assigning Lender (and, in the case of an Assignee that is not a Lender or a Lender Affiliate, by the Administrative
Agent and the Issuing Lender) and delivered to the Administrative Agent for its acceptance and recording in the Register, provided
that, except in the case of an assignment to a Lender or a Lender Affiliate or an assignment of the entire remaining amount of the
assigning Lender’s Commitments or Loans, the amount of the Commitments or Loans of the assigning Lender subject to each such assignment
(determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall
not be less than $5,000,000 (or such lesser amount as may be agreed to by the Borrower and the Administrative Agent), and provided
further that no such assignment shall be made to (A) any Defaulting Lender or any of its Subsidiaries, (B) the Borrower
or any of its Affiliates or Subsidiaries or (C) any natural person. Upon such execution, delivery, acceptance and recording, from
and after the effective date determined pursuant to such Assignment and Assumption, (x) the Assignee thereunder shall be a party
hereto and, to the extent provided in such Assignment and Assumption, have the rights and obligations of a Lender hereunder with Commitments
as set forth therein, and (y) the assigning Lender thereunder shall, to the extent provided in such Assignment and Assumption, be
released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all or the remaining portion
of an assigning Lender’s rights and obligations under this Agreement, such assigning Lender shall cease to be a party hereto but
shall continue to be entitled to the indemnity and expense reimbursement provisions in the Loan Documents arising out of the period prior
to the assignment). Each assignment by a Lender of any portion of its Revolving Credit Commitment shall be accompanied by assignment
by such Lender to the same Assignee of the same percentage of such Lender’s Multicurrency Commitment. Notwithstanding the foregoing,
any Conduit Lender may assign at any time to its designating Lender hereunder without the consent of the Borrower or the Administrative
Agent any or all of the Loans it may have funded hereunder and pursuant to its designation agreement and without regard to the limitations
set forth in the first sentence of this subsection 13.6(c).

 

(d)            The
Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall maintain at the address of the Administrative
Agent referred to in subsection 13.2 a copy of each Assignment and Assumption delivered to it and a register (the “Register”)
for the recordation of the names and addresses of the Lenders and the Commitments of, and principal amount (and stated interest) of the
Loans owing to, each Lender from time to time. The entries in the Register shall be conclusive, in the absence of manifest error, and
the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register as the owner of
a Loan or other obligation hereunder as the owner thereof for all purposes of this Agreement and the other Loan Documents, notwithstanding
any notice to the contrary. Any assignment of any Loan or other obligation hereunder not evidenced by a Note shall be effective only
upon appropriate entries with respect thereto being made in the Register. In addition, the Administrative
Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting
Lender. The Register shall be available for inspection by the Borrower or any Lender at any reasonable time and from time
to time upon reasonable prior notice.

 

(e)            Upon
its receipt of an Assignment and Assumption executed by an assigning Lender and an Assignee (and, in the case of an Assignee that is
not then a Lender or a Lender Affiliate, by the Borrower (if required) and the Administrative Agent) together with payment to the Administrative
Agent of a registration and processing fee of $4,000, the Administrative Agent shall (i) promptly accept such Assignment and Assumption
and (ii) on the effective date determined pursuant thereto record the information contained therein in the Register and give notice
of such acceptance and recordation to the Lenders and the Borrower; provided that the Administrative Agent may, in its sole discretion,
elect to waive such registration and processing fee in the case of any assignment.

 

(f)            The
Borrower authorizes each Lender to disclose to any Participant or Assignee (each, a “Transferee”) and any prospective
Transferee, subject to the provisions of subsection 13.14, any and all financial information in such Lender’s possession
concerning the Borrower and its Affiliates which has been delivered to such Lender by or on behalf of the Borrower pursuant to this Agreement
or which has been delivered to such Lender by or on behalf of the Borrower in connection with such Lender’s credit evaluation of
the Borrower and its Affiliates prior to becoming a party to this Agreement.

 

    - 90 -

     

    

 

(g)            Any
Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations
of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any central bank having jurisdiction
over such Lender in accordance with applicable law; 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.

 

(h)            In
connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall (unless otherwise
agreed by the Borrower and the Administrative Agent) be effective unless and until, in addition to the other conditions thereto set forth
herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient,
upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations,
or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata
share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby
irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative
Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of
all applicable Loans and participations in Letters of Credit in accordance with its Revolving Credit Commitment Percentage. Notwithstanding
the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under
applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting
Lender for all purposes of this Agreement until such compliance occurs.

 

13.7.        Adjustments;
Set-off.

 

(a)            If
any Lender (a “benefited Lender”) shall at any time receive any payment of all or part of its Loans or the Reimbursement
Obligations owing to it (or any participation therein arising pursuant to subsection 13.15) then due and owing, or interest thereon,
or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of
the nature referred to in subsection 10(g), or otherwise), in a greater proportion than any such payment to or collateral received
by any other Lender (other than to the extent expressly provided herein or by court order), if any, in respect of such other Lender’s
Loans or the Reimbursement Obligations owing to it (or any participation therein arising pursuant to subsection 13.15) then due
and owing, or interest thereon, such benefited Lender shall purchase for cash from the other Lenders a participating interest in such
portion of each such other Lender’s Loans or the Reimbursement Obligations owing to it, or shall provide such other Lenders with
the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such benefited Lender to share the excess
payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or
any portion of such excess payment or benefits is thereafter recovered from such benefited Lender, such purchase shall be rescinded,
and the purchase price and benefits returned, to the extent of such recovery, but without interest; and provided further that
in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately
to the Administrative Agent for further application in accordance with the provisions of subsection 2.19 and, pending such payment,
shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent
and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable
detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff.

 

    - 91 -

     

    

 

(b)            In
addition to any rights and remedies of the Lenders provided by law, each Lender shall have the right, without prior notice to the Borrower,
any such notice being expressly waived by the Borrower to the extent permitted by applicable law, upon any amount becoming due and payable
by the Borrower hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and appropriate and apply against
such amount any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness
or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or
owing by such Lender or any Affiliate, branch or agency thereof to or for the credit or the account of the Borrower. Each Lender agrees
promptly to notify the Borrower and the Administrative Agent after any such set-off and application made by such Lender, provided that
the failure to give such notice shall not affect the validity of such set-off and application.

 

13.8.        Counterparts.
This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including
by facsimile transmission or in electronic (i.e., “pdf” or “tif”) format), and all of said counterparts taken
together shall be deemed to constitute one and the same instrument. A set of the copies of this Agreement signed by all the parties shall
be lodged with the Borrower and the Administrative Agent.

 

13.9.        Severability.
Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without
limiting the foregoing provisions of this Section 13.9, if and to the extent that the enforceability of any provisions in
this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws or a Bail-In Action, as determined in good faith
by the Administrative Agent or the Issuing Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent
not so limited.

 

13.10.      Integration.
This Agreement and the other Loan Documents represent the agreement of the Borrower, the Administrative Agent and the Lenders with
respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent
or any Lender relative to subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents.

 

13.11.      GOVERNING
LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF NEW YORK.

 

    - 92 -

     

    

 

13.12.      Submission
To Jurisdiction and Waivers. The Borrower hereby irrevocably and unconditionally:

 

(a)            submits
for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents to which it is
a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the Courts of
the State of New York sitting in New York County, Borough of Manhattan, the courts of the United States of America for the Southern District
of New York, and appellate courts from any thereof;

 

(b)            consents
that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue
of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees
not to plead or claim the same;

 

(c)            agrees
that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or
any substantially similar form of mail), postage prepaid, to the Borrower at its address set forth in subsection 13.2 or at such
other address of which the Administrative Agent shall have been notified pursuant thereto;

 

(d)            agrees
that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right
to sue in any other jurisdiction; and

 

(e)            waives,
to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to
in this subsection any special, exemplary, punitive or consequential damages.

 

13.13.     Acknowledgements.
The Borrower hereby acknowledges that:

 

(a)            it
has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents;

 

(b)            neither
the Administrative Agent nor any Lender has any fiduciary relationship with or duty to the Borrower arising out of or in connection with
this Agreement or any of the other Loan Documents, and the relationship between the Administrative Agent and Lenders, on the one hand,
and the Borrower, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and

 

(c)            no
joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby
among the Lenders or among the Borrower and the Lenders.

 

13.14.      Confidentiality.
Each Lender agrees to keep confidential any Information (a) provided to it by or on behalf of the Borrower or any of its Subsidiaries
pursuant to or in connection with this Agreement or (b) obtained by such Lender based on a review of the books and records of the
Borrower or any of its Subsidiaries; provided that nothing herein shall prevent any Lender from disclosing any such Information
(i) to the Administrative Agent, the Issuing Lender or any other Lender, (ii) to any Transferee or prospective Transferee which
receives such Information having been made aware of the confidential nature thereof and having agreed to abide by the provisions of this
subsection 13.14, (iii) to its employees, directors, agents, attorneys, accountants and other professional advisors, and
to its and its Affiliates’ respective employees, officers, directors, agents, attorneys, accountants and other professional advisors
who are directed to be bound by the provisions of this subsection 13.14 and who have a need for such Information in connection
with this Agreement or other transactions or proposed transactions with the Borrower, (iv) upon the request or demand of any Governmental
Authority having jurisdiction or oversight over such Lender or in connection with any assignment or pledge permitted under subsection
13.6(g), (v) in response to any order of any court or other Governmental Authority or as may otherwise be required pursuant
to any Requirement of Law, (vi) subject to an agreement to comply with the provisions of this subsection, to any actual or prospective
counter-party (or its advisors) to any Hedge Agreement, (vii) which has been publicly disclosed other than in breach of this Agreement,
(viii) in connection with the exercise of any remedy hereunder, or (ix) with the written consent of either a Responsible Officer
or the treasurer of the Borrower.

 

    - 93 -

     

    

 

For purposes of this Section, “Information”
means all information received from either Borrower or any Subsidiary relating to either Borrower or any Subsidiary or any of their respective
businesses, other than any such information that is available to the Administrative Agent, any Lender or the Issuing Lender on a nonconfidential
basis prior to disclosure by the Borrower or any Subsidiary and other than information pertaining to this Agreement routinely provided
by arrangers to data service providers, including league table providers, that serve the lending industry, provided that, in the
case of information received from the Borrower or any Subsidiary after the date hereof, such information is clearly identified at the
time of delivery as confidential. Any Person 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 Administrative Agent, the Lenders
and the Issuing Lender acknowledges that (a) the Information may include material non-public information concerning the Borrower
or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of 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.

 

13.15.      Loan
Conversion/Participations.

 

(a)            (i) On
any Conversion Date, to the extent not otherwise prohibited by a Requirement of Law or otherwise, all Loans (other than CAF Advances)
outstanding in any currency other than Dollars (“Loans to be Converted”) shall be converted into Revolving Credit
Loans denominated in Dollars (calculated on the basis of the relevant Exchange Rates as of the Business Day immediately preceding the
Conversion Date) (“Converted Loans”) and (ii) on the Conversion Date (A) each Lender severally, unconditionally
and irrevocably agrees that it shall purchase in Dollars a participating interest in such Converted Loans in an amount equal to its Conversion
Sharing Percentage of the outstanding principal amount of the Converted Loans and (B) to the extent necessary to cause the Committed
Outstandings Percentage of each Lender to equal its Revolving Credit Commitment Percentage (calculated immediately prior to the termination
or expiration of the Revolving Credit Commitments), each Lender severally, unconditionally and irrevocably agrees that it shall purchase
or sell a participating interest in Revolving Credit Loans then outstanding. Each Lender will immediately transfer to the Administrative
Agent, in immediately available funds, the amounts of its participation(s), and the proceeds of such participation(s) shall be distributed
by the Administrative Agent to each Lender from which a participating interest is being purchased in the amount(s) provided for
in the preceding sentence. All Converted Loans shall bear interest at the rate which would otherwise be applicable to ABR Loans.

 

(b)            If,
for any reason, the Loans to be Converted may not be converted into Dollars in the manner contemplated by paragraph (a) of this
subsection 13.15, (i) effective on such Conversion Date, each Lender severally, unconditionally and irrevocably agrees that
it shall purchase a participating interest in such Loans to be Converted, as the case may be, in an amount equal to its Conversion Sharing
Percentage of such Loans to be Converted, and (ii) each Lender shall purchase or sell participating interests as provided in paragraph
(a)(ii)(B) of this subsection 13.15. Each such Lender will immediately transfer to the appropriate Administrative Agent,
in immediately available funds, the amount(s) of its participation(s), and the proceeds of such participation(s) shall be distributed
by the Administrative Agent to each relevant Lender in the amount(s) provided for in the preceding sentence.

 

    - 94 -

     

    

 

(c)            To
the extent any Non-Excluded Taxes are required to be withheld from any amounts payable by a Lender to another Lender in connection with
its participating interest in any Converted Loan, the Borrower shall be required to pay increased amounts to the Lender receiving such
payments to the same extent they would be required under subsection 3.10 if the Borrower were making payments directly to such
Lender.

 

(d)            Any
time when the actions contemplated by paragraph (a) or (b) of this subsection 13.15 have been taken, upon the notice
of any Lender to the Borrower the following shall occur (which notice shall not be required to be declared at any time an Event of Default
under subsection 10(g) has occurred): (i) the Borrower (through the guarantee contained in Section 12) shall
automatically be deemed to have assumed the Local Currency Loans which are Converted Loans in which such Lender holds a participation,
and (ii) such Local Currency Loans shall be assigned by the relevant Lender holding such Local Currency Loans or obligations to
the Lender who gave the notice requesting such assumption by the Borrower.

 

(e)            If
a Defaulting Lender exists on the Conversion Date, the Administrative Agent may, in consultation with one or more other Revolving Lenders
which are not Defaulting Lenders, revise this subsection 13.15 and related definitions in order to allocate payments for the benefit
of such Defaulting Lender in a manner consistent with subsection 2.19.

 

13.16.      Judgment.

 

(a)            If
for the purpose of obtaining judgment in any court it is necessary to convert a sum due hereunder in one currency into another currency,
the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which
in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency in the
city in which it normally conducts its foreign exchange operation for the first currency on the Business Day preceding the day on which
final judgment is given.

 

(b)            The
obligation of the Borrower in respect of any sum due from it to any Lender hereunder shall, notwithstanding any judgment in a currency
(the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions
of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt
by such Lender of any sum adjudged to be so due in the Judgment Currency such Lender may in accordance with normal banking procedures
purchase the Agreement Currency with the Judgment Currency; if the amount of Agreement Currency so purchased is less than the sum originally
due to such Lender in the Agreement Currency, the Borrower agrees notwithstanding any such judgment to indemnify such Lender against such
loss, and if the amount of the Agreement Currency so purchased exceeds the sum originally due to any Lender, such Lender agrees to remit
to the Borrower such excess.

 

13.17.      WAIVERS
OF JURY TRIAL. THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE, TO THE FULLEST EXTENT
PERMITTED BY LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM
THEREIN.

 

    - 95 -

     

    

 

13.18.      USA
Patriot Act Notice. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower
that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot
Act”), it is required to obtain, verify and record information that identifies the Borrower and each Foreign Subsidiary Borrower,
which information includes the name and address of the Borrower and each Foreign Subsidiary Borrower and other information that will
allow such Lender or the Administrative Agent, as applicable, to identify the Borrower and each Foreign Subsidiary Borrower in accordance
with the Patriot Act.

 

13.19.      No
Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in connection
with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and acknowledges
its Affiliates’ understanding, that: (a) (i) the arranging and other services regarding this Agreement provided by the
Administrative Agent and the Arrangers are arm’s-length commercial transactions between the Borrower and its Affiliates, on the
one hand, and the Administrative Agent and the Arrangers, on the other hand, (ii) the Borrower has consulted its own legal, accounting,
regulatory and tax advisors to the extent it has deemed appropriate, and (iii) the Borrower is capable of evaluating, and understands
and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (b) (i) the
Administrative Agent and the Arrangers each is and has been acting solely as a principal and, except as expressly agreed in writing by
the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower or any of its respective
Affiliates, or any other Person and (ii) neither the Administrative Agent nor the Arrangers has any obligation to the Borrower or
any of its respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein
and in the other Loan Documents; and (c) the Administrative Agent and the Arrangers and their respective Affiliates may be engaged
in a broad range of transactions that involve interests that differ from those of the Borrower and its Affiliates, and neither the Administrative
Agent nor the Arrangers has any obligation to disclose any of such interests to the Borrower or any of its Affiliates.

 

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

 

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

 

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

 

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

 

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

 

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

 

    - 96 -

     

    

 

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

 

(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 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 13.21, the following terms have the following meanings:

 

“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.

 

“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).

 

“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.

 

“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).

 

    - 97 -

     

    

 

[Signature Pages Follow]

 

    - 98 -

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written.

 

	 	BOSTON SCIENTIFIC CORPORATION
	 	 
	 	 
	 	 	 
	 	By:	/s/ Robert J. Castagna
	 	Name:	 Robert J. Castagna
	 	Title:	Vice President and Treasurer

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 	as Administrative Agent
	 	 	 
	 	By: 	/s/ Darin Mullis

	 	Name: 	Darin Mullis
	 	Title:	Managing Director

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 	as a Lender and as an Issuing Lender
	 	 	 
	 	By:	 /s/ Darin Mullis

	 	Name:	Darin Mullis
	 	Title:	Managing Director

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

 

	 	BANK OF AMERICA, N.A., as a Lender and as an Issuing Lender
	 	 	 
	 	 	 
	 	By:	/s/ Darren Merten
	 	Name:	Darren Merten
	 	Title:	Director

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

 

	 	BARCLAYS
BANK PLC., as a Lender and as an Issuing Lender
	 	 	 
	 	 	 
	 	By:	/s/ Ronnie Glenn
	 	Name:	Ronnie Glenn
	 	Title:	Director

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

 

	 	CITIBANK,
N.A., as a Lender and as an Issuing Lender
	 	 	 
	 	 	 
	 	By:	/s/ Pranjal Gambhir
	 	Name:	Pranjal Gambhir
	 	Title:	Vice President

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

 

	 	JPMORGAN
CHASE BANK, N.A., as a Lender and as an Issuing Lender
	 	 	 
	 	 	 
	 	By:	/s/ Gregory T Martin
	 	Name:	Gregory T Martin
	 	Title:	Executive Director

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

 

	 	SOCIETE
GENERALE., as a Lender and as an Issuing Lender
	 	 	 
	 	 	 
	 	By:	/s/ Kimberly Metzger
	 	Name:	Kimberly Metzger
	 	Title:	Director

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	BNP
PARIBAS., as a Lender
	 	 	 
	 	 	 
	 	By:	/s/ Michael Pearce
	 	Name:	Michael Pearce
	 	Title:	Managing Director
	 	 	 
	 	 	 
	 	By:	/s/ John T. Bosco
	 	Name:	John T. Bosco
	 	Title:	Managing Director

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

 

	 	DNB
CAPITAL LLC., as a Lender
	 	 	 
	 	 	 
	 	By:	/s/ Ahelia Singh
	 	Name:	Ahelia Singh
	 	Title:	Assistant Vice President
	 	 	 
	 	 	 
	 	By:	/s/ Samantha K Stone
	 	Name:	Samantha K Stone
	 	Title:	Vice President

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	GOLDMAN SACHS BANK USA, as a Lender
	 	 	 
	 	 	 
	 	By:	/s/ Jacob Elder
	 	Name:	Jacob Elder
	 	Title:	Authorized Signatory

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	MUFG
Bank, LTD, as a Lender
	 	 	 
	 	 	 
	 	By:	/s/ Jack Lonker
	 	Name:	Jack Lonker
	 	Title:	Director

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

 

	 	ROYAL BANK OF CANADA, as a Lender
	 	 
	 	By:	/s/ Scott MacVicar
	 	Name:	 Scott MacVicar     
	 	Title:	Authorized Signatory

 

Signature Page to 

Boston Scientific Credit Agreement

 

     

     

    

 

	 	The Bank of Nova Scotia, as a Lender
	 	 
	 	By:	/s/ Arjun Talwalkar
	 	Name: 	Arjun Talwalkar
	 	Title:	Director

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	The Toronto-Dominion Bank, New York Branch, as a Lender
	 	 
	 	By:	/s/ Maria Macchiaroli
	 	Name: 	Maria Macchiaroli
	 	Title:	Authorized Signatory

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	U.S. Bank National Association, as a Lender
	 	 
	 	By:	/s/
    Maria Massimino
	 	Name:	 Maria Massimino
	 	Title:	Senior Vice President

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	Allied Irish Banks p.l.c, as a Lender
	 	 
	 	By:	/s/ Conor Brogan
	 	Name:	 Conor Brogan
	 	Title:	Senior Relationship Manager
	 	 
	 	By:	/s/ Hazel Smyth
	 	Name:	 Hazel Smyth
	 	Title:	Relationship Manager

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender
	 	 
	 	By:/s/ Ming K. Chu
	 	Name:	Ming K. Chu
	 	Title:	Director
	 	 
	 	By:/s/ Marko
    Lukin
	 	Name:	Marko Lukin
	 	Title:	Vice President

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	Intesa Sanpaolo S.p.A., New York Branch, as a Lender
	 	 
	 	By:	/s/ Alessandro Toigo
	 	Name:	 Alessandro Toigo
	 	Title:	Head of Corporate Desk
	 	 
	 	By:	/s/ Jennifer Feldman Facciola
	 	Name: 	Jennifer Feldman Facciola
	 	Title:	Relationship Manager

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

	 	STANDARD CHARTERED BANK, as a Lender
	 	 
	 	By:	/s/ James Beck
	 	Name: 	James Beck
	 	Title:	Director

 

Signature Page to

Boston Scientific Credit Agreement

 

     

     

    

 

 

SCHEDULE I

 

NAMES AND COMMITMENTS OF LENDERS

 

	Name	 	Revolving
    Credit

    Commitment	 	 	Multicurrency

    Commitment	 	 	Issuing
    Lender

    Commitment	 
	Wells
    Fargo Bank, National Association	 	$	275,000,000	 	 	$	80,000,000	 	 	$	83,333,333	 
	Bank of America, N.A.	 	$	275,000,000	 	 	$	80,000,000	 	 	$	83,333,333	 
	Barclays Bank PLC	 	$	275,000,000	 	 	$	80,000,000	 	 	$	83,333,333	 
	Citibank, N.A.	 	$	275,000,000	 	 	$	80,000,000	 	 	$	83,333,333	 
	JPMorgan Chase Bank,
    N.A.	 	$	275,000,000	 	 	$	80,000,000	 	 	$	83,333,333	 
	Société
    Générale	 	$	275,000,000	 	 	$	80,000,000	 	 	$	83,333,333	 
	BNP Paribas	 	$	115,000,000	 	 	$	33,440,000	 	 	 	 	 
	DNB Capital LLC	 	$	115,000,000	 	 	$	33,440,000	 	 	 	 	 
	Goldman Sachs Bank
    USA	 	$	115,000,000	 	 	$	33,440,000	 	 	 	 	 
	MUFG Bank, Ltd.	 	$	115,000,000	 	 	$	33,440,000	 	 	 	 	 
	Royal Bank of Canada	 	$	115,000,000	 	 	$	33,440,000	 	 	 	 	 
	The Bank of Nova Scotia	 	$	115,000,000	 	 	$	33,440,000	 	 	 	 	 
	The Toronto-Dominion
    Bank, New York Branch	 	$	115,000,000	 	 	$	33,440,000	 	 	 	 	 
	U.S Bank National
    Association	 	$	115,000,000	 	 	$	33,440,000	 	 	 	 	 
	Allied Irish Banks,
    p.l.c.	 	$	45,000,000	 	 	$	13,120,000	 	 	 	 	 
	Deutsche Bank AG New
    York Branch	 	$	45,000,000	 	 	$	13,120,000	 	 	 	 	 
	Intesa Sanpaolo S.p.A.,
    New York Branch	 	$	45,000,000	 	 	$	13,120,000	 	 	 	 	 
	Standard Chartered
    Bank	 	$	45,000,000	 	 	$	13,120,000	 	 	 	 	 
	Total	 	$	2,750,000,000	 	 	$	800,000,000	 	 	$	500,000,000	 

 

    

     

    

 

SCHEDULE II

 

INFORMATION CONCERNING LOCAL CURRENCY LOANS

 

		I.	MULTICURRENCY LOANS

 

		1.	Wells Fargo Bank, National Association

                                            MAC D01109-019

1525 W. W.T. Harris Blvd.

Charlotte, North Carolina 28262

Attention: Syndication Agency Services

Facsimile No.: 844-879-5899

Email: agencyservices.requests@wellsfargo.com

 

		2.	Time:

                                            Not later than 11:00 a.m., New York Time, five Business Days prior to such Borrowing Date
                                            or the date of such continuation or three Business Days prior to such prepayment.

 

		3.	Information Required:

                                            Borrowings - Currency, Amount to be borrowed, and Interest Periods.

 

Continuations or Prepayments - Amount to be continued or
prepaid, as the case may be, and Interest Periods.

 

		II.	NOTICE OF LOCAL CURRENCY OUTSTANDINGS

 

		1.	Deliver to:	Wells Fargo Bank, National Association
	 	 	 	MAC D01109-019
	 	 	 	1525 W. W.T. Harris Blvd.
	 	 	 	Charlotte, North Carolina 28262
	 	 	 	Attention: Syndication Agency Services
	 	 	 	Facsimile No.: 844-879-5899
	 	 	 	Email: agencyservices.requests@wellsfargo.com

 

2.            Delivery
time:

 

By close of business in New York on the date of making of
each Local Currency Loan and on the last Business Day of each month on which the applicable Foreign Subsidiary Borrower has outstanding
any Local Currency Loans.

 

		3.	Information Required: Name of Foreign Subsidiary Borrower, amount and
                                            currency of outstanding Local Currency Loans.

    

     

    

 

Schedule 9.2

Existing Liens1

 

	Entity	State	Jurisdiction	UCC
    #	Secured
    

Party	Amount
    of 

Obligation	Description
	 	 	 	 	 	 	 
	Boston
    Scientific Corporation	DE	SOS	64509535
    filed on 12/22/06 Continued on 8/1/11 Continued on 12/2/16 Assignment to Wells Fargo Bank on 2/7/17 Collateral restatement filed
    on 2/7/17 Debtor address change filed on 2/7/17	Wells
    Fargo Bank, National Association	—	Certain
    accounts receivable and related property relating to Company’s receivables facility
	 	 	 	 	 	 	 
	Boston
    Scientific Funding LLC	DE	SOS	64510137
    filed on 12/22/06 Continued on 8/1/11 Continued on 12/2/16 Assignment to Wells Fargo Bank on 2/7/17 Collateral restatement filed
    on 2/7/17 Debtor address change filed on 2/7/17	Wells
    Fargo Bank, National Association	—	Certain
    accounts receivable and related property relating to Company’s receivables facility

 

 

1
Liens with respect to Equipment Leases are set forth on an Annex hereto.

    

     

    

 

ANNEX 1 TO SCHEDULE 9.2

 

BOSTON SCIENTIFIC EXISTING LIENS

 

	Debtor	State	Jurisdiction	UCC
    Type 

File # and 

Date	Secured

    Party	Collateral

    Description
	BOSTON
    SCIENTIFIC CORPORATION	DE	SOS	UCC-1

    #2013 4617834 11/22/13	Ricoh
    USA, Inc.	Equipment
    Lease
	 	 	 	UCC-3s

    11/27/19, 12/18/19, 1/3/20, 3/27/20, 6/25/20, 3/9/21 and 3/30/21	 	SP
    Assignment to PNC Equipment Finance, LLC
	 	 	 	UCC-3
    

    2/10/14	MB
    Financial Bank, N.A.	Assignment
	 	 	 	UCC-3

    5/30/18	 	Continuation
	 	 	 	UCC-1

    #20163120498 

    5/25/16	Ikon
    Financial Svcs	Equipment
    Lease
	 	 	 	UCC-1

    #20173531917 

    5/30/17	Ikon
    Financial Svcs	Equipment
    Lease
	 	 	 	UCC-1

    #20187189976 10/17/18	Orbotech, Inc.	Equipment
    Lease
	 	 	 	UCC-1

    #2020 1186610

    2/18/20	AT&T
    Capital Services, Inc.	Equipment
    Lease
	 	 	 	UCC-1

    2020 7660691

    11/3/20	Cisco
    Systems Capital Corporation	Equipment
    Lease
	 	 	 	UCC-1

    2020 7950126

    11/13/20	Electro
    Rent Corporation	Equipment
	 	 	 	UCC-1

    2020 8617724

    12/8/20	Electro
    Rent Corporation	Equipment
	 	 	 	UCC-1

    2020 8810998

    12/14/20	Electro
    Rent Corporation	Equipment
	 	 	 	UCC-1

    2021 2774546

    4/9/21	AT&T
    Capital Services, Inc.	Equipment
    Lease

 

    

     

    

 

Schedule 9.5

Existing Subsidiary Indebtedness

 

($ in thousands)

 

	Subsidiary	 	Lender	 	Maturity	 	 	Amount 

as of 

03/31/21	 
	Boston Scientific Japan K.K.	 	Sanritsu Corporation	 	 	October 2030	 	 	 	6,270	 
	Boston Scientific SA France	 	BNP Paribas Factor S.A.	 	 	Revolving	 	 	 	11,060	 
	Various	 	Various	 	 	Revolving	 	 	 	1,872Monaker Group, Inc. S-3

 

Exhibit 10.98

 

 

<WITHOUT
PREJUDICE> 

 

	 	Monaker
                                    Letter of Intent to Purchase Radiant Entities’ Axion Shares

	Term	Description
	Background	Radiant
    VC 1 Limited and Radiant PV 1 Limited (each a “Radiant Entity” and collectively the “Radiant Entities”)
    represent 5,400,001 and 6,599,998 shares respectively of Axion Ventures Inc. (TSXV: “AXV”); AND, whereas AXV Founders
    of Axion are merging their interests in AXV with Monaker Group Inc. (NASDAQ: “MKGI”); MKGI is interested in making
    a contingent offer to acquire the above mentioned AXV shares held by the Radiant Entities, subject to regulatory approvals
    and based on the terms and conditions of this Letter of Intent (“Proposed Transaction”).
	Monaker
    Offer to Purchase	MKGI’s
    Offer of Canadian $0.20 (20 cents) per share Cash along with the issuance of warrants to Radiant Entities (on a pro rata basis
    based on number of AXV Shares told to MKGI, being 90,000 warrants to Radiant VC 1 Ltd. and 110,000 warrants to Radiant PV
    1 Ltd.) to purchase up to 200,000 MKGI common stock at US$3.00 for a 6-month term from the date of Completion of the Proposed
    Transaction (“Radiant Warrants”).
	Terms,
    Conditions, Confidentiality and Contingencies	1)     

                                                                              This Contingent Offer is CONDITIONAL upon complete confidentiality. If the Contingent
                                         Offer is transmitted to any parties outside of Radiant (except for any professional advisors
                                         of Radiant and or Radiant Entities, including but not limited to investment, financial,
                                         tax or legal advisors) by any Party other than MKGI, this Offer is void, except that
                                         if accepted (see below) the Proxy shall remain in affect.

        2)     

        This Offer is contingent upon immediate execution by Radiant, granting MKGI the AXV Proxy, upon payment of Deposit by
        MKGI, for a period of up to 120 days (pending the time requirement for BC Securities commission to lift cease trade order
        on AXV Shares (“CTO”) and/or separately grant permission for purchase and sale of Radiant Entities’
        Axion shares to MKGI).

        3)     

        Upon acceptance of this LOI – MKGI will have formal Stock Purchase and Sales Agreement as well as a Proxy Agreement
        drawn which will include:

        –
        a maximum 120-day timeline to complete the Proposed Transaction or Deposit will be forfeited.

        -
        be accompanied with a Proxy Agreement (“AXV Proxy”) in which Radiant shall immediately execute thereby granting
        MKGI the right to vote Radiant Entities’ shares in matters relating to 1) removal and appointment of board members
        and senior management of AXV; and 2) application to the BC Securities commission to lift the CTO and/or separately grant
        permission for purchase and sale of Radiant Entities’ AXV shares to MKGI, for 120 days (unless extended by Radiant).

        Granting
this proxy is a Condition Precedent to any other agreement herein.

    	Monaker Letter of Intent to Purchase Radiant Entities’ Axion Shares
 Page 1 of 3

     

    

<WITHOUT
PREJUDICE> 

 

	 	- 
                                         MKGI shall inform Radiant in writing of the details of how any voting rights of Radiant
                                         Entities’ AXV Shares have been exercised under the AXV Proxy within 24 hours of
                                         exercising such vote and include copies of any shareholders’ meeting notice, agenda
                                         and resolution in such notice.

        - 
        MKGI shall inform Radiant in writing within 24 hours of it receiving confirmation of BC Securities commission lifting
        the CTO and/or separately grant permission for purchase and sale of Radiant Entities’ AXV shares to MKGI.

        4)    

        A nonrefundable 25% deposit will be paid per terms under Deposit and Final Payment section below at time of entering into
        formal purchase and sale agreement for acquisition of Radiant Entities’ Axion shares (not more than 10 days of execution
        of this LOI).

        5)     

        The Balance of the purchase price will be paid within 10 days of Monaker receiving written approval from BC Securities
        Commission to transfer shares of Axion but in no case be longer than 120 days from the earlier of i) date of the AXV Proxy
        (unless parties mutually agree to extend the date); and ii) October 24th, 2020.

	Deposit
    and Final Payment	- 
                                         25% of the Purchase Price (“Deposit”) will be payable upon receipt of AXV
                                         Proxy and signing of formal purchase and sale agreement by Radiant. This deposit is nonrefundable
                                         regardless of termination of the purchase and sale agreement as per terms below.

        - 
        Additionally, the 75% balance of the Purchase Price (“Final Payment”) will be made withing 10 days of the
        receipt of approval for transfer of Radiant Entities’ AXV Shares from the BC Securities Commission .

        - 
        should such approval not be received within 120 days of the earlier of i) execution of the purchase and sale agreement
        (unless mutually agreed to extend) will terminate with no further rights or obligations by the parties; and ii) October
        24th, 2020.

	Warrants	Each
    of the Radiant Entities may transfer their rights to receive the Radiant Warrants or any Radiant Warrants they have receive
    from MKGI to their respective shareholders, without the consent of MKGI, by a written notice to MKGI. At any time after delivery
    of AVX Proxy and before the expiry date of the Radiant Warrant, at the Radiant Warrant Holders’ option, each Radiant
    Warrant Holder may choose to exercise part or all of their Radiant Warrants to purchase MKGI shares with cash payment; or
    to offset any portion of the their entitled amount of Final Payment in lieu of cash payment.
	Transfer
    of Axion Shares	Upon
    payment of Final Payment or Conversion of its AXV shares into MKGI shares in accordance with terms under the Warrants section
    above, Each Radiant Entity shall promptly transfer their relevant number of AXV shares to MKGI
	Supersedes
    Prior Agreements	This
    Letter of Intent shall supersede and replace all prior agreements, letter of intents, and understandings, oral or written,
    between the Parties regarding the transactions covered hereby.

    	Monaker Letter of Intent to Purchase Radiant Entities’ Axion Shares
 Page 2 of 3

     

    

   <WITHOUT
PREJUDICE>

 

Agreed
to this 28th day of October 2020

 

 

 

 

	Name: 	Gordon Yen	 	Name:	Bill Kerby
	 	 	 	 	 
	Signature:	/s/ Gordon Yen	 	Signature:	/s/ Bill Kerby
	Title: 	Director	 	Title:	CEO
	 	Radiant Ventures Ltd acting as Manager of	 	 	Monaker Group Inc.- Buyer 
	 	Radiant VC 1 Limited as Sellers	 	 	 

 

	Name:	Gordon Yen	 
	 		 
	Signature: 	/s/ Gordon Yen	 
	Title:	Director	 
	 	Radiant PV 1 Limited as Sellers	 

 

 

 

 

    	Monaker Letter of Intent to Purchase Radiant Entities’ Axion Shares
 Page 3 of 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]