Document:

Amended and Restated Credit Agreement dated as of May 22, 2007

 Exhibit 10.29 
 AMENDED AND RESTATED CREDIT AGREEMENT 
 Dated as of May 22, 2007 
 Among 
 OMNOVA SOLUTIONS INC. 
 as the Borrower 
 THE FINANCIAL
INSTITUTIONS NAMED HEREIN 
 as the Lenders 
 JPMORGAN CHASE BANK, N.A. 
 as the Agent 
 and 
 JPMORGAN SECURITIES INC. 
 as the Lead Arranger and Sole Book Runner 

 TABLE OF CONTENTS 
  

					
	 Section
	    	 	  	Page
		
	 ARTICLE 1 LOANS AND LETTERS OF CREDIT
	  	1
			
	 1.1
	    	 Total Facility
	  	1
	 1.2
	    	 Revolving Loans
	  	2
	 1.3
	    	 Letters of Credit
	  	6
	 1.4
	    	 Bank Products
	  	9
		
	 ARTICLE 2 INTEREST AND FEES
	  	10
			
	 2.1
	    	 Interest
	  	10
	 2.2
	    	 Continuation and Conversion Elections
	  	10
	 2.3
	    	 Maximum Interest Rate
	  	11
	 2.4
	    	 Fee Letter
	  	12
	 2.5
	    	 Unused Line Fee
	  	12
	 2.6
	    	 Letter of Credit Fee
	  	12
		
	 ARTICLE 3 PAYMENTS AND PREPAYMENTS
	  	13
			
	 3.1
	    	 Revolving Loans
	  	13
	 3.2
	    	 Termination of Facility
	  	13
	 3.3
	    	 Prepayments of the Loans
	  	14
	 3.4
	    	 Eurodollar Revolving Loan Prepayments
	  	14
	 3.5
	    	 Payments by the Borrower
	  	14
	 3.6
	    	 Payments as Revolving Loans
	  	15
	 3.7
	    	 Appointment, Application and Reversal of Payments
	  	15
	 3.8
	    	 Indemnity for Returned Payments
	  	15
	 3.9
	    	 Agent’s and Lenders’ Books and Records; Monthly Statements
	  	16
		
	 ARTICLE 4 TAXES, YIELD PROTECTION AND ILLEGALITY
	  	16
			
	 4.1
	    	 Taxes
	  	16
	 4.2
	    	 Illegality
	  	17
	 4.3
	    	 Increased Costs and Reduction of Return
	  	18
	 4.4
	    	 Funding Losses
	  	18
	 4.5
	    	 Inability to Determine Rates
	  	19
	 4.6
	    	 Certificates of Agent
	  	19
	 4.7
	    	 Survival
	  	19
		
	 ARTICLE 5 BOOKS AND RECORDS; FINANCIAL INFORMATION; NOTICES
	  	19
			
	 5.1
	    	 Books and Records
	  	19
	 5.2
	    	 Financial Information
	  	20
	 5.3
	    	 Notices to the Lenders
	  	22
	 5.4
	    	 Appraisals
	  	25

  

 i 

					
	 ARTICLE 6 GENERAL WARRANTIES AND REPRESENTATIONS
	  	25
			
	 6.1
	    	 Authorization, Validity, and Enforceability of this Agreement and the Loan Documents
	  	25
	 6.2
	    	 Validity and Priority of Security Interest
	  	25
	 6.3
	    	 Organization and Qualification
	  	25
	 6.4
	    	 Corporate Name; Prior Transactions
	  	26
	 6.5
	    	 Subsidiaries and Affiliates
	  	26
	 6.6
	    	 Financial Statements and Projections
	  	26
	 6.7
	    	 [Intentionally Deleted]
	  	26
	 6.8
	    	 Solvency
	  	26
	 6.9
	    	 Debt
	  	27
	 6.10
	    	 Distributions
	  	27
	 6.11
	    	 Real Estate; Leases; Liens
	  	27
	 6.12
	    	 Proprietary Rights
	  	27
	 6.13
	    	 Trade Names
	  	28
	 6.14
	    	 Litigation
	  	28
	 6.15
	    	 Labor Disputes
	  	28
	 6.16
	    	 Environmental Laws
	  	28
	 6.17
	    	 No Violation of Law
	  	30
	 6.18
	    	 No Default
	  	30
	 6.19
	    	 ERISA Compliance
	  	30
	 6.20
	    	 Taxes
	  	30
	 6.21
	    	 Regulated Entities
	  	30
	 6.22
	    	 Use of Proceeds; Margin Regulations
	  	31
	 6.23
	    	 Copyrights, Patents, Trademarks and Licenses, etc.
	  	31
	 6.24
	    	 No Material Adverse Change
	  	31
	 6.25
	    	 Full Disclosure
	  	31
	 6.26
	    	 Material Agreements
	  	31
	 6.27
	    	 Bank Accounts
	  	31
	 6.28
	    	 Governmental Authorization
	  	31
	 6.29
	    	 Insurance
	  	32
	 6.30
	    	 Inactive Subsidiaries
	  	32
	 6.31
	    	 Reportable Transaction
	  	32
		
	 ARTICLE 7 AFFIRMATIVE AND NEGATIVE COVENANTS
	  	32
			
	 7.1
	    	 Taxes and Other Obligations
	  	32
	 7.2
	    	 Legal Existence and Good Standing
	  	32
	 7.3
	    	 Compliance with Law and Agreements; Maintenance of Licenses
	  	33
	 7.4
	    	 Maintenance of Property; Inspection of Property
	  	33
	 7.5
	    	 Insurance
	  	33
	 7.6
	    	 Insurance and Condemnation Proceeds
	  	34
	 7.7
	    	 Environmental Laws
	  	35
	 7.8
	    	 Compliance with ERISA
	  	35
	 7.9
	    	 Mergers, Consolidations or Sales
	  	35
	 7.10
	    	 Distributions; Capital Change; Restricted Investments
	  	35

  

 ii 

					
	 7.11
	    	 Transactions Affecting Collateral or Obligations
	  	36
	 7.12
	    	 Guaranties
	  	36
	 7.13
	    	 Debt
	  	36
	 7.14
	    	 Prepayment
	  	37
	 7.15
	    	 Transactions with Affiliates
	  	37
	 7.16
	    	 Investment Banking and Finder’s Fees
	  	38
	 7.17
	    	 Business Conducted
	  	38
	 7.18
	    	 Liens
	  	38
	 7.19
	    	 Sale and Leaseback Transactions
	  	38
	 7.20
	    	 New Subsidiaries
	  	38
	 7.21
	    	 Fiscal Year
	  	38
	 7.22
	    	 [Intentionally Omitted]
	  	38
	 7.23
	    	 Fixed Charge Coverage Ratio
	  	38
	 7.24
	    	 [Intentionally Omitted]
	  	38
	 7.25
	    	 Use of Proceeds
	  	39
	 7.26
	    	 Amendments to Agreements
	  	39
	 7.27
	    	 Inactive Subsidiaries
	  	39
	 7.28
	    	 Bank Accounts
	  	39
	 7.29
	    	 Post-Closing Obligations
	  	39
	 7.30
	    	 Further Assurances
	  	41
		
	 ARTICLE 8 CONDITIONS OF LENDING
	  	41
			
	 8.1
	    	 Conditions Precedent to Making of Loans on the Closing Date
	  	41
	 8.2
	    	 Conditions Precedent to Each Loan
	  	44
		
	 ARTICLE 9 DEFAULT; REMEDIES
	  	44
			
	 9.1
	    	 Events of Default
	  	44
	 9.2
	    	 Remedies
	  	47
		
	 ARTICLE 10 TERM AND TERMINATION
	  	48
			
	 10.1
	    	 Term and Termination
	  	48
		
	 ARTICLE 11 AMENDMENTS; WAIVERs; PARTICIPATIONS; ASSIGNMENTS; SUCCESSORS
	  	49
			
	 11.1
	    	 Amendments and Waivers
	  	49
	 11.2
	    	 Assignments; Participations
	  	50
		
	 ARTICLE 12 THE AGENT
	  	52
			
	 12.1
	    	 Appointment and Authorization
	  	52
	 12.2
	    	 Delegation of Duties
	  	53
	 12.3
	    	 Liability of Agent
	  	53
	 12.4
	    	 Reliance by Agent
	  	53
	 12.5
	    	 Notice of Default
	  	53

  

 iii 

					
	 12.6
	    	 Credit Decision
	  	54
	 12.7
	    	 Indemnification
	  	54
	 12.8
	    	 Agent in Individual Capacity
	  	54
	 12.9
	    	 Successor Agent
	  	55
	 12.10
	    	 Withholding Tax
	  	55
	 12.11
	    	 Collateral Matters
	  	56
	 12.12
	    	 Restrictions on Actions by Lenders; Sharing of Payments
	  	57
	 12.13
	    	 Agency for Perfection
	  	58
	 12.14
	    	 Payments by Agent to Lenders
	  	58
	 12.15
	    	 Settlement
	  	59
	 12.16
	    	 Letters of Credit; Infra-Lender Issues
	  	62
	 12.17
	    	 Concerning the Collateral and the Related Loan Documents
	  	64
	 12.18
	    	 Field Audit and Examination Reports; Disclaimer by Lenders
	  	64
	 12.19
	    	 Relation Among Lenders
	  	65
		
	 ARTICLE 13 MISCELLANEOUS
	  	65
			
	 13.1
	    	 No Waivers; Cumulative Remedies
	  	65
	 13.2
	    	 Severability
	  	65
	 13.3
	    	 Governing Law; Choice of Forum; Service of Process
	  	65
	 13.4
	    	 WAIVER OF JURY TRIAL
	  	66
	 13.5
	    	 Survival of Representations and Warranties
	  	67
	 13.6
	    	 Other Security and Guaranties
	  	67
	 13.7
	    	 Fees and Expenses
	  	67
	 13.8
	    	 Notices
	  	68
	 13.9
	    	 Waiver of Notices
	  	69
	 13.10
	    	 Binding Effect
	  	69
	 13.11
	    	 Indemnity of the Agent and the Lenders by the Borrower
	  	69
	 13.12
	    	 Limitation of Liability
	  	70
	 13.13
	    	 Final Agreement
	  	70
	 13.14
	    	 Counterparts
	  	70
	 13.15
	    	 Captions
	  	70
	 13.16
	    	 Right of Setoff
	  	70
	 13.17
	    	 Confidentiality
	  	71
	 13.18
	    	 Conflicts with Other Loan Documents
	  	72
	 13.19
	    	 Patriot Act Notice
	  	72
		
	 ARTICLE 14 AMENDMENT AND RESTATEMENT
	  	72
			
	 14.1
	    	 Interrelationship with the Prior Credit Agreement
	  	72
	 14.2
	    	 Confirmation of Existing Obligations
	  	73

  

 iv 

 ANNEXES, EXHIBITS AND SCHEDULES 
  

					
	 ANNEX A
	  	-	  	 DEFINED TERMS

			
	 EXHIBIT A-1
	  	-	  	 FORM OF REVOLVING LOAN NOTE

			
	 EXHIBIT A-2
	  	-	  	 FORM OF SWING LINE NOTE

			
	 EXHIBIT B
	  	-	  	 FORM OF BORROWING BASE CERTIFICATE

			
	 EXHIBIT C
	  	-	  	 FINANCIAL STATEMENTS

			
	 EXHIBIT D
	  	-	  	 FORM OF NOTICE OF BORROWING

			
	 EXHIBIT E
	  	-	  	 FORM OF NOTICE OF CONTINUATION/CONVERSION

			
	 EXHIBIT F
	  	-	  	 FORM OF ASSIGNMENT AND ACCEPTANCE AGREEMENT

					
			
	 SCHEDULE 1.2
	  	–	  	 LENDERS’ COMMITMENTS (ANNEX A - DEFINED TERMS)

			
	 SCHEDULE 6.3
	  	–	  	 ORGANIZATION AND QUALIFICATIONS

			
	 SCHEDULE 6.5
	  	–	  	 SUBSIDIARIES AND AFFILIATES

			
	 SCHEDULE 6.9
	  	–	  	 DEBT

			
	 SCHEDULE 6.11
	  	–	  	 REAL ESTATE; LEASES; LIENS

			
	 SCHEDULE 6.12
	  	–	  	 PROPRIETARY RIGHTS

			
	 SCHEDULE 6.13
	  	–	  	 TRADE NAMES

			
	 SCHEDULE 6.14
	  	–	  	 LITIGATION

			
	 SCHEDULE 6.15
	  	–	  	 LABOR DISPUTES

			
	 SCHEDULE 6.16
	  	–	  	 ENVIRONMENTAL LAW

			
	 SCHEDULE 6.19
	  	–	  	 ERISA COMPLIANCE

			
	 SCHEDULE 6.26
	  	–	  	 MATERIAL AGREEMENTS

			
	 SCHEDULE 6.27
	  	–	  	 BANK ACCOUNTS

			
	 SCHEDULE 6.29
	  	–	  	 INSURANCE

			
	 SCHEDULE 6.30
	  	–	  	 INACTIVE SUBSIDIARIES

  

 v 

 AMENDED AND RESTATED CREDIT AGREEMENT 
 This Amended and Restated Credit Agreement, dated as of May 22, 2007, (this
“Agreement”) among the financial institutions from time to time parties hereto (such financial institutions, together with their respective successors and assigns, are referred to hereinafter each individually as a “Lender” and
collectively as the “Lenders”), JPMorgan Chase Bank, N.A. having its principal office at 120 S. LaSalle Street, 8th Floor, Chicago, IL 60603, as agent for the Lenders (in its capacity as agent, the “Agent”), and OMNOVA Solutions Inc., an Ohio corporation, with offices at 175 Ghent Road, Fairlawn, Ohio 44333 (the “Borrower”).

 W I T N E S S E T H: 
 WHEREAS, pursuant to that certain Credit Agreement dated as of May 28, 2003 (as amended or otherwise modified from time to time
prior to the date hereof, the “Prior Credit Agreement”), Lenders party to the Prior Credit Agreement extended a revolving line of credit for loans and letters of credit in an amount not to exceed $100,000,000; 
 WHEREAS, the Borrower has requested the Lenders to (i) make available to the Borrower a revolving line of credit for loans and
letters of credit in an amount not to exceed $80,000,000, consisting of the continuation of the loans outstanding under the Prior Credit Agreement which extensions of credit the Borrower will use for the purposes permitted hereunder and
(ii) amend and restate the provisions of the Prior Credit Agreement as set forth herein; 
 WHEREAS, capitalized terms
used in this Agreement and not otherwise defined herein shall have the meanings ascribed thereto in Annex A which is attached hereto and incorporated herein; the rules of construction contained therein shall govern the interpretation of this
Agreement, and all Annexes, Exhibits and Schedules attached hereto are incorporated herein by reference; 
 WHEREAS, the
Lenders have agreed to (i) make available to the Borrower a revolving credit facility upon the terms and conditions set forth in this Agreement and (ii) amend and restate the Prior Credit Agreement as set forth herein. 
 NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth in this Agreement, and for good and valuable
consideration, the receipt of which is hereby acknowledged, the Lenders, the Agent, and the Borrower hereby agree to amend and restate the Prior Credit Agreement as set forth herein. 
 ARTICLE 1  
 LOANS AND LETTERS OF CREDIT 
 1.1    Total Facility. Subject to all of the terms and conditions of this Agreement, the Lenders agree to make
available a total credit facility of up to $80,000,000 (the “Total Facility”) to the Borrower from time to time during the term of this Agreement. The Total Facility shall be composed of a revolving line of credit consisting of Revolving
Loans and Letters of Credit described herein. 

 1.2    Revolving Loans. 
 (a)    (i)    Amounts. Subject to the satisfaction of the conditions precedent set forth
in Article 8, each Lender severally, but not jointly, agrees, upon the Borrower’s request from time to time on any Business Day during the period from the Closing Date to the Termination Date, to make revolving loans, including, without
duplication, Swing Line Loans (the “Revolving Loans”) to the Borrower in amounts not to exceed such Lender’s Pro Rata Share of Availability, except for Agent Advances. The Lenders, however, in their unanimous discretion, may
elect to make Revolving Loans or issue or arrange to have issued Letters of Credit in excess of the Borrowing Base on one or more occasions, but if they do so, neither the Agent nor the Lenders shall be deemed thereby to have changed the limits of
the Borrowing Base or to be obligated to exceed such limits on any other occasion. If any Borrowing would exceed Availability, the Lenders may refuse to make or may otherwise restrict the making of Revolving Loans as the Lenders determine until such
excess has been eliminated, subject to the Agent’s authority, in its sole discretion, to make Agent Advances pursuant to the terms of Section 1.2(i). 
 (ii)    The Revolving Loans of each Lender shall be evidenced by this Agreement. At the request of any Lender, Borrower shall execute and deliver to such Lender a note to
further evidence the Revolving Loan of that Lender. Each note shall be in the principal amount of the Lender’s Pro Rata Share of the Commitments, dated the date hereof and substantially in the form of Exhibit A-l (each a
“Revolving Loan Note” and, collectively, the “Revolving Loan Notes”). Each Revolving Loan Note shall represent the obligation of Borrower to pay the amount of Lender’s Pro Rata Share of the Commitments, or, if
less, such Lender’s Pro Rata Share of the aggregate unpaid principal amount of all Revolving Loans to Borrower together with interest thereon as prescribed in Section 1.2. The entire unpaid balance of the Revolving Loan and all
other non-contingent Obligations shall be immediately due and payable in full in immediately available funds on the Termination Date. 
 (b)    Procedure for Borrowing. 
 (1)    Each Borrowing shall be made upon the Borrower’s irrevocable written notice delivered to the Agent in the form of a notice of borrowing (“Notice of Borrowing”), which must be received by the Agent
prior to (i) 12:00 noon (Chicago time) three Business Days prior to the requested Funding Date, in the case of Eurodollar Revolving Loans and (ii) 11:00 a.m. (Chicago time) on the requested Funding Date, in the case of Alternate Base Rate
Revolving Loans, specifying: 
 (A)    the amount of the Borrowing of a Eurodollar Revolving Loan must
equal or exceed $5,000,000 (and increments of $1,000,000 in excess of such amount); 
 (B)    the
requested Funding Date, which must be a Business Day; 
 (C)    whether the Revolving Loans requested
are to be Alternate Base Rate Revolving Loans or Eurodollar Revolving Loans (and if not specified, it shall be deemed a request for an Alternate Base Rate Revolving Loan); and 
  

 2 

 (D)    the duration of the Interest Period for Eurodollar Revolving
Loans (and if not specified, it shall be deemed a request for an Interest Period of one month); 
 provided, however, that with respect to
the Borrowing to be made on the Closing Date, such Borrowings will consist of Alternate Base Rate Revolving Loans only. 
 (2)    In lieu of delivering a Notice of Borrowing, the Borrower may give the Agent telephonic notice of such request for advances to the Designated Account on or before the deadline set forth above. The Agent at all
times shall be entitled to rely on such telephonic notice in making such Revolving Loans, regardless of whether any written confirmation is received. 
 (3)    The Borrower shall have no right to request a Eurodollar Revolving Loan while a Default or Event of Default has occurred and is continuing. 
 (c)    Reliance upon Authority. Prior to the Closing Date, the Borrower shall deliver to the Agent, a notice
setting forth the account of the Borrower (“Designated Account”) to which the Agent is authorized to transfer the proceeds of the Revolving Loans requested hereunder. The Borrower may designate a replacement account from time to time by
written notice. All such Designated Accounts must be reasonably satisfactory to the Agent. The Agent is entitled to rely conclusively on any person’s request for Revolving Loans on behalf of the Borrower, so long as the proceeds thereof are to
be transferred to the Designated Account. The Agent has no duty to verify the identity of any individual representing himself or herself as a person authorized by the Borrower to make such requests on its behalf. 
 (d)    No Liability. The Agent shall not incur any liability to the Borrower as a result of acting upon any
notice referred to in Sections 1.2(b) and (c), which the Agent believes in good faith to have been given by an officer or other person duly authorized by the Borrower to request Revolving Loans on its behalf. The crediting of Revolving
Loans to the Designated Account conclusively establishes the obligation of the Borrower to repay such Revolving Loans as provided herein. 
 (e)    Notice Irrevocable. Any Notice of Borrowing (or telephonic notice in lieu thereof) made pursuant to Section 1.2(b) shall be irrevocable. The Borrower shall be bound to
borrow the funds requested therein in accordance therewith. 
 (f)    Agent’s Election.
Promptly after receipt of a Notice of Borrowing (or telephonic notice in lieu thereof), the Agent shall elect to have the terms of Section 1.2(g) or the terms of Section 1.2(h) apply to such requested Borrowing. If the Bank
declines in its sole discretion to make a Swing Line Loan pursuant to Section 1.2(h), the terms of Section 1.2(g) shall apply to the requested Borrowing. 
 (g)    Making of Revolving Loans. If Agent elects to have the terms of this Section 1.2(g) apply
to a requested Borrowing, then promptly after receipt of a Notice of Borrowing or telephonic notice in lieu thereof, the Agent shall notify the Lenders by telecopy, telephone or e-mail of the requested Borrowing. Each Lender shall transfer its Pro
Rata Share of the requested Borrowing available to the Agent in immediately available funds, to the account from time to time designated by Agent, not later than 12:00 noon (Chicago time) on the 

  

 3 

 
applicable Funding Date. After the Agent’s receipt of all proceeds of such Revolving Loans, the Agent shall make the proceeds of such Revolving Loans
available to the Borrower on the applicable Funding Date by transferring same day funds to the account designated by the Borrower; provided, however, that the amount of Revolving Loans so made on any date shall not exceed the
Availability on such date. 
 (h)    Making of Swing Line Loans. 
 (A)    If Agent elects, with the consent of the Bank, to have the terms of this Section 1.2(h) apply to
a requested Borrowing, the Bank shall make a Revolving Loan in the amount of that Borrowing available to the Borrower on the applicable Funding Date by transferring same day funds to Borrower’s Designated Account. Each Revolving Loan made
solely by the Bank pursuant to this Section is herein referred to as a “Swing Line Loan,” and such Revolving Loans are collectively referred to as the “Swing Line Loans.” Each Swing Line Loan shall be subject to all the terms and
conditions applicable to other Revolving Loans except that all payments thereon shall be payable to the Bank solely for its own account. The aggregate amount of Swing Line Loans outstanding at any time shall not exceed $10,000,000 (the “Swing
Line Commitment”). The Agent shall not request the Bank to make any Swing Line Loan if (1) the Agent has received written notice from any Lender that one or more of the applicable conditions precedent set forth in Article 8 will not
be satisfied on the requested Funding Date for the applicable Borrowing, or (2) the requested Borrowing would exceed Availability on that Funding Date. 
 (B)    The Swing Line Loans shall be secured by the Agent’s Liens in and to the Collateral and shall constitute Alternate Base Rate Revolving Loans and Obligations
hereunder. 
 (C)    Borrower shall execute and deliver to the Bank a promissory note to evidence the
Swing Line Commitment. Such note shall be in the principal amount of the Swing Line Commitment of the Bank, dated the Closing Date and substantially in the form of Exhibit A-2 (the “Swing Line Note”). The Swing Line Note
shall represent the obligation of Borrower to pay the amount of the Swing Line Commitment or, if less, the aggregate unpaid principal amount of all Swing Line Loans made to Borrower together with interest thereon as prescribed in
Section 2.1. 
 (i)    Agent Advances. 
 (A)    Subject to the limitations set forth below, the Agent is authorized by the Borrower and the Lenders, from
time to time in the Agent’s sole discretion, (A) after the occurrence of a Default or an Event of Default, or (B) at any time that any of the other conditions precedent set forth in Article 8 have not been satisfied, to make
Alternate Base Rate Revolving Loans to the Borrower on behalf of the Lenders in an aggregate amount outstanding at any time not to exceed $5,000,000 (but not to exceed the Maximum Revolver Amount) which the Agent, in its reasonable business
judgment, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations, or (3) to pay any
other amount chargeable to the Borrower pursuant to the terms of this Agreement, including costs, fees and expenses as 

  

 4 

 
described in Section 13.7 (any of such advances are herein referred to as “Agent Advances”); provided, that the Required Lenders
may at any time revoke the Agent’s authorization to make Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Agent’s receipt thereof. 
 (B)    The Agent Advances shall be secured by the Agent’s Liens in and to the Collateral and shall constitute
Alternate Base Rate Revolving Loans and Obligations hereunder. 
 (j)    Increased Commitments.

 (A)    So long as no Default or Event of Default shall have occurred and then be continuing, at any
time prior to the Closing Date and on one or more occasions up to a maximum of four occasions, Borrower may propose to increase the Total Facility by $5,000,000 or an integral multiple thereof, but in an aggregate amount not to exceed $20,000,000,
in accordance with and pursuant to this Section 1.2(j). 
 (B)    Such proposal (an
“Increased Commitment Proposal”) may be delivered by Borrower to Agent and Lenders and, subject to paragraph (C) below, to Eligible Assignees approved by Borrower, in each case, with the prior written consent of Agent, and
shall set forth the amount of proposed increase of the Commitments (the “Additional Commitment”). 
 (C)    The Increased Commitment Proposal shall be offered on a first priority basis to Lenders, who may accept, but are not obligated to accept, based on their respective “Pro Rata Shares” of the Commitments.
If the total amount of the Additional Commitment is not accepted by Lenders based on their respective Pro Rata Shares, then Lenders may accept, but are not obligated to accept, the remaining portions of the Additional Commitment on a non-pro rata
basis. To the extent that Lenders do not accept any portion of the Additional Commitment, the Increased Commitment Proposal may be offered to Eligible Assignees approved by Agent. Agent shall have discretion to adjust the allocation of the
Additional Commitment between and among Lenders that accept the Increased Commitment Proposal and Eligible Assignees that accept the Increased Commitment Proposal. 
 (D)    Borrower, the Lenders accepting such Increased Commitment Proposal and the Eligible Assignees accepting such Increased Commitment Proposal shall have entered into an
agreement (an “Increased Commitment Agreement”) in form and substance reasonably satisfactory to Agent pursuant to which, among other things, (1) Lenders and Eligible Assignees party thereto shall have accepted the Increased
Commitment Proposal, (2) the Eligible Assignees shall have agreed to be bound by this Agreement and shall have made the representations and warranties required of an assignee of Loans and Commitments under Section 11.2, (3) the
terms of the Increased Commitment Proposal and the terms required by this Section 1.2(j) shall have been incorporated into this Agreement (which incorporation shall constitute an amendment of this Agreement and shall not require the
consent of Required Lenders (so long as such Increased Commitment Agreement is limited to implementing the Increased Commitment Proposal and provisions reasonably related thereto as reasonably determined by Agent), (4) the Borrower shall have
consented to the terms of the Increased Commitment Agreement, and (5) Borrower shall have issued to each Lender that requests the 

  

 5 

 
same a new Revolving Note in an amount equal to the Commitment of such Lender (after giving effect to the increase of such Lender’s Commitment).

 (E)    On the effective date of any increase in the Commitments under this
Section 1.2(j), (i) (x) all necessary Revolving Loans shall be made under the Additional Commitment and (y) a portion of those increased fundings shall be applied to the Revolving Loan held by Lenders whose percentage
share of the outstanding Revolving Loan exceeds their respective Pro Rata Shares of the Commitment (after giving effect to such increase in the Commitment), in each case, so that the percentage share of the outstanding Revolving Loan held by each
Lender equals its Pro Rata Share of the Commitment, and (ii) the percentage interest of each Lender in each participation in each undrawn Letter of Credit (whether then outstanding or thereafter issued) shall equal its percentage interest in
the Commitment (after giving effect to such increase in the Commitment). From and after that date, each Revolving Loan shall be made in accordance with the Commitments after giving effect to such increase in the Commitment, and each repayment of a
Revolving Loan shall be applied in accordance with the Commitments after giving effect to such increase in the Commitments. 
 (F)    All Revolving Loans made pursuant to the Additional Commitment shall constitute Revolving Loans, shall constitute Obligations, shall be secured pari passu by the Collateral and shall be repaid in accordance
with the terms of this Agreement. 
 1.3    Letters of Credit. 
 (a)    Agreement to Issue or Cause To Issue. Subject to the terms and conditions of this Agreement, the Agent
agrees (i) to cause the Letter of Credit Issuer to issue for the account of the Borrower one or more commercial/documentary and standby letters of credit (“Letter of Credit”) and/or (ii) to provide credit support or other
enhancement to a Letter of Credit Issuer acceptable to Agent, which issues a Letter of Credit for the account of the Borrower (any such credit support or enhancement being herein referred to as a “Credit Support”) from time to time during
the term of this Agreement. 
 (b)    Amounts; Outside Expiration Date. The Agent shall not have
any obligation to issue or cause to be issued any Letter of Credit or to provide Credit Support for any Letter of Credit at any time if: (i) the maximum face amount of the requested Letter of Credit is greater than the Unused Letter of Credit
Subfacility at such time; (ii) the maximum undrawn amount of the requested Letter of Credit and all commissions, fees, and charges due from the Borrower in connection with the opening thereof would exceed Availability at such time; or
(iii) such Letter of Credit has an expiration date less than five (5) days prior to the Stated Termination Date or more than 12 months from the date of issuance (provided that any Letter of Credit with a 12-month tenor may provide for the
renewal thereof for additional 12-month periods, which shall in no event extend beyond five (5) days prior to the Stated Termination Date). With respect to any Letter of Credit which contains any “evergreen” or automatic renewal
provision, each Lender shall be deemed to have consented to any such extension or renewal unless any such Lender shall have provided to the Agent, written notice that it declines to consent to any such extension or renewal at least thirty
(30) days prior to the date on which the Letter of Credit Issuer is entitled to decline to extend or renew the Letter of Credit. If all of the requirements of this 

  

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Section 1.3 are met and no Default or Event of Default has occurred and is continuing, no Lender shall decline to consent to any such extension
or renewal. 
 (c)    Other Conditions. In addition to conditions precedent contained in
Article 8, the obligation of the Agent to issue or to cause to be issued any Letter of Credit or to provide Credit Support for any Letter of Credit is subject to the following conditions precedent having been satisfied in a manner reasonably
satisfactory to the Agent: 
 (1)    The Borrower shall have delivered to the Letter of Credit Issuer,
at such times and in such manner as such Letter of Credit Issuer may prescribe, an application in form and substance satisfactory to such Letter of Credit Issuer and reasonably satisfactory to the Agent for the issuance of the Letter of Credit and
such other documents as may be required pursuant to the terms thereof, and the form, terms and purpose of the proposed Letter of Credit shall be reasonably satisfactory to the Agent and the Letter of Credit Issuer; and 
 (2)    As of the date of issuance, no order of any court, arbitrator or Governmental Authority shall purport by its
terms to enjoin or restrain money center banks generally from issuing letters of credit of the type and in the amount of the proposed Letter of Credit, and no law, rule or regulation applicable to money center banks generally and no request or
directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over money center banks generally shall prohibit, or request that the proposed Letter of Credit Issuer refrain from, the issuance of letters of
credit generally or the issuance of such Letters of Credit. 
 (d)    Issuance of Letters of
Credit. 
 (1)    Request for Issuance. Borrower must notify the Agent of a requested Letter
of Credit at least three (3) Business Days prior to the proposed issuance date. Such notice shall be irrevocable and must specify the original face amount of the Letter of Credit requested, the Business Day of issuance of such requested Letter
of Credit, whether such Letter of Credit may be drawn in a single or in partial draws, the Business Day on which the requested Letter of Credit is to expire, the purpose for which such Letter of Credit is to be issued, and the beneficiary of the
requested Letter of Credit. The Borrower shall attach to such notice the proposed form of the Letter of Credit. 
 (2)    Responsibilities of the Agent; Issuance. As of the Business Day of the requested issuance date of the Letter of Credit, the Agent shall determine the amount of the applicable Unused Letter of Credit
Subfacility and Availability. If (i) the face amount of the requested Letter of Credit is less than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due
from the Borrower in connection with the opening thereof would not exceed Availability, the Agent shall cause the Letter of Credit Issuer to issue the requested Letter of Credit on the requested issuance date so long as the other conditions hereof
are met. 
 (3)    No Extensions or Amendment. The Agent shall not be obligated to cause the
Letter of Credit Issuer to extend or amend any Letter of Credit issued 

  

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pursuant hereto unless the requirements of this Section 1.3 are met as though a new Letter of Credit were being requested and issued. 

(e)    Payments Pursuant to Letters of Credit. The Borrower agrees to reimburse immediately the Letter of
Credit Issuer for any draw under any Letter of Credit and the Agent for the account of the Lenders upon any payment pursuant to any Credit Support, and to pay the Letter of Credit Issuer the amount of all other charges and fees payable to the Letter
of Credit Issuer in connection with any Letter of Credit immediately when due, irrespective of any claim, setoff, defense or other right which the Borrower may have at any time against the Letter of Credit Issuer or any other Person. Each drawing
under any Letter of Credit shall constitute a request by the Borrower to the Agent for a Borrowing of an Alternate Base Rate Revolving Loan in the amount of such drawing. The Funding Date with respect to such borrowing shall be the date of such
drawing. 
 (f)    Indemnification; Exoneration; Power of Attorney. 
 (1)    Indemnification. In addition to amounts payable as elsewhere provided in this Section 1.3,
the Borrower agrees to protect, indemnify, pay and save the Lenders and the Agent harmless from and against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (including reasonable attorneys’ fees) which any
Lender or the Agent (other than a Lender in its capacity as Letter of Credit Issuer) may incur or be subject to (excluding such claims, demands, liabilities, damages, losses, costs, charges and expenses arising solely from disputes between or among
Agent and/or Lenders) as a consequence, direct or indirect, of the issuance of any Letter of Credit or the provision of any Credit Support or enhancement in connection therewith. The Borrower’s obligations under this Section shall survive
payment of all other Obligations. 
 (2)    Assumption of Risk by the Borrower. As among the
Borrower, the Lenders, and the Agent, the Borrower assumes all risks of the acts and omissions of, or misuse of any of the Letters of Credit by, the respective beneficiaries of such Letters of Credit. In furtherance and not in limitation of the
foregoing, the Lenders and the Agent shall not be responsible for; (A) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any Person in connection with the application for and issuance of and
presentation of drafts with respect to any of the Letters of Credit, even if it should prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (B) the validity or sufficiency of any instrument transferring or
assigning or purporting to transfer or assign any Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason; (C) the failure of the beneficiary of
any Letter of Credit to comply duly with conditions required in order to draw upon such Letter of Credit; (D) errors, omissions, interruptions, or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex or
otherwise, whether or not they be in cipher; (E) errors in interpretation of technical terms; (F) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any Letter of Credit or of the
proceeds thereof; (G) the misapplication by the beneficiary of any Letter of Credit of the proceeds of any drawing under such Letter of Credit; (H) any consequences arising from causes beyond the control of the Lenders or the Agent,
including any act or omission, whether rightful or wrongful, of any present or future de jure or de facto Governmental Authority or (I) the Letter 

  

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of Credit Issuer’s honor of a draw for which the draw or any certificate fails to comply in any respect with the terms of the Letter of Credit. None of
the foregoing shall affect, impair or prevent the vesting of any rights or powers of the Agent or any Lender under this Section 1.3(f). 
 (3)    Exoneration. Without limiting the foregoing, no action or omission whatsoever by Agent or any Lender (excluding any Lender in its capacity as a Letter of Credit Issuer and excluding
any such liability resulting from the gross negligence or willful misconduct of the party seeking exoneration hereunder) shall result in any liability of Agent or any Lender to the Borrower, or relieve the Borrower of any of its obligations
hereunder to any such Person. 
 (4)    Rights Against Letter of Credit Issuer. Nothing contained
in this Agreement is intended to limit the Borrower’s rights, if any, with respect to the Letter of Credit Issuer which arise as a result of the letter of credit application and related documents executed by and between the Borrower and the
Letter of Credit Issuer. 
 (5)    Account Party. The Borrower hereby authorizes and directs any
Letter of Credit Issuer to name the Borrower as the “Account Party” therein and to deliver to the Agent all instruments, documents and other writings and property received by the Letter of Credit Issuer pursuant to the Letter of Credit,
and to accept and rely upon the Agent’s instructions and agreements with respect to all matters arising in connection with the Letter of Credit or the application therefor. 
 (g)    Supporting Letter of Credit; Cash Collateral. If, notwithstanding the provisions of
Section 1.3(b) and Section 10.1. any Letter of Credit or Credit Support is outstanding upon the termination of this Agreement, then upon such termination the Borrower shall deposit with the Agent, for the ratable benefit of
the Agent and the Lenders, with respect to each Letter of Credit or Credit Support then outstanding, cash collateral in an amount equal to 110% of the greatest amount for which such Letter of Credit or such Credit Support may be drawn plus any fees
and expenses associated with such Letter of Credit or such Credit Support, Such cash collateral shall be held by the Agent, for the ratable benefit of the Agent and the Lenders, as security for, and to provide for the payment of, the aggregate
undrawn amount of such Letters of Credit or such Credit Support remaining outstanding. 
 1.4    Bank
Products. The Borrower may request and the Agent may, in its sole and absolute discretion, arrange for the Borrower to obtain from the Bank or the Bank’s Affiliates Bank Products although the Borrower is not required to do so. If Bank
Products are provided by an Affiliate of the Bank, the Borrower agrees to reimburse the Agent, the Bank and the Lenders for any and all costs and obligations now or hereafter incurred by the Agent, the Bank or any of the Lenders which arise from any
indemnity given by the Agent to its Affiliates related to such Bank Products; provided, however, nothing contained herein is intended to limit the Borrower’s rights, with respect to the Bank or its Affiliates, if any, which arise
as a result of the execution of documents by and between the Borrower and the Bank which relate to Bank Products. The agreement contained in this Section shall survive termination of this Agreement. The Borrower acknowledges and agrees that the
obtaining of Bank Products from the Bank or the Bank’s Affiliates (a) is in the sole and absolute discretion of the Bank or the Bank’s Affiliates, and (b) is subject to all rules and regulations of the Bank or the Bank’s
Affiliates. 
  

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 ARTICLE 2  
 INTEREST AND FEES 
 2.1    Interest. 
 (a)    Interest Rates. All outstanding Obligations shall bear interest on the unpaid principal amount thereof
(including, to the extent permitted by law, on interest thereon not paid when due) from the date made until paid in full in cash at a rate determined by reference to the Alternate Base Rate or the Eurodollar Rate plus the Applicable Margins
as set forth below, but not to exceed the Maximum Rate. If at any time Loans are outstanding with respect to which the Borrower has not delivered to the Agent a notice specifying the basis for determining the interest rate applicable thereto in
accordance herewith, those Loans shall bear interest at a rate determined by reference to the Alternate Base Rate until notice to the contrary has been given to the Agent in accordance with this Agreement and such notice has become effective. Except
as otherwise provided herein, the outstanding Obligations shall bear interest as follows: 
 (i)    For all Alternate Base Rate Revolving Loans and other Obligations (other than Eurodollar Revolving Loans) at a fluctuating per annum rate equal to the Alternate Base Rate plus the Applicable Margin; and

 (ii)    For all Eurodollar Revolving Loans at a per annum rate equal to the Eurodollar
Rate plus the Applicable Margin. 
 Each change in the Alternate Base Rate shall be reflected in the interest rate applicable to
Alternate Base Rate Revolving Loans as of the effective date of such change. All interest charges shall be computed on the basis of a year of 360 days and actual days elapsed (which results in more interest being paid than if computed on the basis
of a 365-day year). The Borrower shall pay to the Agent, for the ratable benefit of Lenders, interest accrued on all Alternate Base Rate Revolving Loans in arrears on the first day of each month hereafter, on the date of any repayment of any portion
of such Loans and on the Termination Date. The Borrower shall pay to the Agent, for the ratable benefit of Lenders, interest on all Eurodollar Revolving Loans in arrears on each Eurodollar Interest Payment Date, on the date of any repayment of any
portion of such Loans and on the Termination Date. 
 (b)    Default Rate. If any Default or
Event of Default occurs and is continuing and the Agent or the Required Lenders in their discretion so elect, then, while any such Default or Event of Default is continuing, all of the Obligations shall bear interest at the Default Rate applicable
thereto. 
 2.2    Continuation and Conversion Elections. 
 (a)    The Borrower may: 
 (i)    elect, as of any Business Day, in the case of Alternate Base Rate Revolving Loans (other than Swing Line Loans) to convert any Alternate Base Rate Revolving Loan (or
any part thereof in an amount not less than 

  

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$5,000,000 or that is in an integral multiple of $1,000,000 in excess thereof) into Eurodollar Revolving Loans; or 
 (ii)    elect, as of the last day of the applicable Interest Period, to continue any Eurodollar
Revolving Loan having Interest Periods expiring on such day (or any part thereof in an amount not less than $5,000,000, or that is in an integral multiple of $1,000,000 in excess thereof); 
 provided, that if at any time the aggregate amount of Eurodollar Revolving Loans in respect of any Borrowing is reduced, by payment, prepayment, or conversion of part thereof to be less
than $5,000,000, such Eurodollar Revolving Loans shall automatically convert into Alternate Base Rate Revolving Loans; provided further that if the notice shall fail to specify the duration of the Interest Period, such Interest Period
shall be one month. 
 (b)    The Borrower shall deliver a notice of continuation/conversion
(“Notice of Continuation/Conversion”) to the Agent not later than 12:00 noon (Chicago time) at least three (3) Business Days in advance of the Continuation/Conversion Date, if the Loans are to be converted into or continued as
Eurodollar Revolving Loans and specifying: 
 (i)    the proposed Continuation/Conversion
Date; 
 (ii)    the aggregate amount of Loans to be converted or renewed; 
 (iii)    the type of Loans resulting from the proposed conversion or continuation; and 
 (iv)    the duration of the requested Interest Period, provided, however, the Borrower
may not select an Interest Period that ends after the Stated Termination Date. 
 (c)    If upon the
expiration of any Interest Period applicable to Eurodollar Revolving Loans, the Borrower has failed to select timely a new Interest Period to be applicable to Eurodollar Revolving Loans or if any Default or Event of Default then exists, the Borrower
shall be deemed to have elected to convert such Eurodollar Revolving Loans into Alternate Base Rate Revolving Loans effective as of the expiration date of such Interest Period. 
 (d)    The Agent will promptly notify each Lender of its receipt of a Notice of Continuation/Conversion. All
conversions and continuations shall be made ratably according to the respective outstanding principal amounts of the Loans with respect to which the notice was given held by each Lender. 
 (e)    There may not be more than five (5) different Eurodollar Revolving Loans in effect hereunder at any
time. 
 2.3    Maximum Interest Rate. In no event shall any interest rate provided for hereunder
exceed the maximum rate legally chargeable by any Lender under applicable law for such Lender with respect to loans of the type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would
have exceeded the Maximum Rate, 

  

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then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate,
then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited by the Maximum Rate. In the event that, upon
payment in full of the Obligations, the total amount of interest paid or accrued under the terms of this Agreement is less than the total amount of interest which would, but for this Section 2.3. have been paid or accrued if the interest
rate otherwise set forth in this Agreement had at all times been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Agent, for the account of the Lenders, an amount equal to the excess of (a) the lesser of
(i) the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or (ii) the amount of interest which would have accrued had the interest rate otherwise set forth in this Agreement, at all
times, been in effect over (b) the amount of interest actually paid or accrued under this Agreement. If a court of competent jurisdiction determines that the Agent and/or any Lender has received interest and other charges hereunder in excess of
the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, in the inverse order of maturity, and if there are no Obligations outstanding, the Agent and/or
such Lender shall refund to the Borrower such excess. 
 2.4    Fee Letter. The Borrower agrees to
pay the Agent the fees set forth in the fee letter dated April 26, 2007, among Agent, JPMorgan Securities Inc. and Borrower at the times set forth therein. 
 2.5    Unused Line Fee. On the first day of each Fiscal Quarter and on the Termination Date the Borrower agrees to pay to the Agent, for the account of the Lenders, in
accordance with their respective Pro Rata Shares, an unused line fee (the “Unused Line Fee”) equal to the Applicable Margin times the amount by which the Maximum Revolver Amount exceeded the sum of the average daily outstanding amount of
Revolving Loans and the average daily undrawn face amount of outstanding Letters of Credit, during the immediately prior Fiscal Quarter or shorter period if calculated for the first Fiscal Quarter ending after the Closing Date or on the Termination
Date. The Unused Line Fee shall be computed on the basis of a 360-day year for the actual number of days elapsed. All principal payments received by the Agent shall be deemed to be credited to the Borrower’s Loan Account immediately upon
receipt of good funds for purposes of calculating the Unused Line Fee pursuant to this Section 2.5. 
 2.6    Letter of Credit Fee. The Borrower agrees to pay to the Agent, for the account of the Lenders, in accordance with their respective Pro Rata Shares, for each Letter of Credit, a fee (the “Letter of
Credit Fee”) equal to the Applicable Margin per annum times the face amount of such Letter of Credit and to Agent for the benefit of the Letter of Credit Issuer a fronting fee of one-quarter of one percent (0.25%) per annum of the undrawn face
amount of each Letter of Credit, and to the Letter of Credit Issuer, all out-of-pocket costs, fees and expenses incurred by the Letter of Credit Issuer in connection with the application for, processing of, negotiation of, issuance of, or amendment
to any Letter of Credit. The Letter of Credit Fee shall be payable quarterly in arrears on the first day of each Fiscal Quarter following any Fiscal Quarter in which a Letter of Credit is outstanding and on the Termination Date. The Letter of Credit
Fee shall be computed on the basis of a 360-day year for the actual number of days elapsed. 
  

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 ARTICLE 3  
 PAYMENTS AND PREPAYMENTS 
 3.1    Revolving Loans. The
Borrower shall repay the outstanding principal balance of the Revolving Loans and all other Obligations, plus all accrued but unpaid interest thereon, on the Termination Date. The Borrower may prepay Revolving Loans at any time, and reborrow subject
to the terms of this Agreement. In addition, and without limiting the generality of the foregoing, upon demand the Borrower shall pay to the Agent, for account of the Lenders, the amount, without duplication, by which the Aggregate Revolver
Outstandings exceeds the lesser of the Borrowing Base or the Maximum Revolver Amount. 
 3.2    Termination of Facility. The Borrower may terminate this Agreement upon at least ten (10) Business Days’ notice to the Agent and the Lenders, upon (a) the payment in full of all outstanding
Revolving Loans, together with accrued interest thereon, and the cancellation and return of all outstanding Letters of Credit, (b) the payment in full in cash of all reimbursable expenses and other Obligations, and (c) with respect to any
Eurodollar Revolving Loan prepaid, payment of the amounts due under Section 4.4, if any. 
  

 13 

 3.3     Prepayments of the Loans. 
 (a)    Immediately upon receipt by Borrower or its Subsidiaries of proceeds of any (i) sale or other
disposition of Collateral (excluding Accounts and Inventory) permitted under Section 7.9. (ii) sale of the stock of any Subsidiary of Borrower or (iii) issuance of equity securities (other than equity issued in connection with
Borrower’s Plans) or issuance of Debt (other than Guaranties) permitted under the last sentence of Section 7.13 (excluding proceeds of equity or Debt issued to finance a Permitted Acquisition but only to the extent such proceeds are
received and paid to the sellers of the Target contemporaneously with the consummation of the Permitted Acquisition or contemporaneously with the date on which any other consideration is required to be paid to such sellers in connection with such
Permitted Acquisition), Borrower shall prepay the Obligations in an amount equal to all such proceeds, net of (A) commissions and other reasonable and customary transaction costs, fees and expenses properly attributable to such transaction and
payable by Borrower in connection therewith (in each case, paid to non-Affiliates), (B) transfer taxes, (C) amounts payable to holders of senior Liens (to the extent such Liens constitute Permitted Liens hereunder), if any, and (D) an
appropriate reserve for income taxes in accordance with GAAP in connection therewith (“Net Proceeds”); provided, that to the extent no Default or Event of Default has occurred and is continuing at the time of or after giving effect
to any sale or disposition of Collateral under clause (i) or any issuance of equity by Borrower under clause (iii), Borrower may use the proceeds thereof for any of its general corporate purposes (including, without limitation, Permitted
Acquisitions and prepayment of Debt under the Term Loan Agreement) to the extent not prohibited by this Agreement. Notwithstanding the foregoing, if a Default or an Event of Default has occurred and is continuing, all Net Proceeds from the sale of
Collateral subject to clause (i) above or from any issuance of equity by Borrower under clause (iii) above shall be applied to the Obligations. Any such prepayment required by this Section 3.3(a) shall be applied in accordance
with Section 3.7. 
 (b)    [Intentionally Deleted]. 
 (c)    No provision contained in this Section 3.3 shall constitute a consent to an asset disposition
that is otherwise not permitted by the terms of this Agreement. 
 3.4    Eurodollar Revolving Loan
Prepayments. In connection with any prepayment, if any Eurodollar Revolving Loan is prepaid prior to the expiration date of the Interest Period applicable thereto, the Borrower shall pay to the Lenders the amounts described in
Section 4.4. 
 3.5    Payments by the Borrower. 
 (a)    All payments to be made by the Borrower shall be made without set-off, recoupment or counterclaim. Except as
otherwise expressly provided herein, all payments by the Borrower shall be made to the Agent for the account of the Lenders, at the account designated by the Agent and shall be made in Dollars and in immediately available funds, no later than 12:00
noon (Chicago time) on the date specified herein. Any payment received by the Agent after such time shall be deemed (for purposes of calculating interest only) 

  

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to have been received on the following Business Day and any applicable interest shall continue to accrue. 
 (b)    Subject to the provisions set forth in the definition of “Interest Period”, whenever any payment is
due on a day other than a Business Day, such payment shall be due on the following Business Day, and such extension of time shall in such case be included in the computation of interest or fees, as the case may be. 
 3.6    Payments as Revolving Loans. At the election of Agent, all payments of interest, reimbursement
obligations in connection with Letters of Credit and Credit Support for Letters of Credit, fees, premiums, reimbursable expenses and other sums payable hereunder, may be paid from the proceeds of Revolving Loans made hereunder. The Borrower hereby
irrevocably authorizes the Agent to charge the Loan Account for the purpose of paying all amounts from time to time due hereunder and agrees that all such amounts charged shall constitute Revolving Loans (including Swing Line Loans and Agent
Advances). 
 3.7    Apportionment, Application and Reversal of Payments. Principal and interest
payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans to which such payments relate held by each Lender) and payments of the fees shall, as applicable, be apportioned ratably among the
Lenders, except for fees payable solely to Agent and the Letter of Credit Issuer and except as provided in Section 11.1(b). All payments shall be remitted to the Agent and all such payments not relating to principal or interest of specific
Loans, or not constituting payment of specific fees, and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities or
expense reimbursements (excluding any amounts relating to Bank Products) then due to the Agent from the Borrower; second, to pay any fees or expense reimbursements then due to the Lenders from the Borrower; third, to pay interest due
in respect of all Loans, including Swing Line Loans and Agent Advances; fourth, to pay or prepay principal of the Swing Line Loans and Agent Advances; fifth, to pay or prepay principal of the Revolving Loans (other than Swing Line
Loans and Agent Advances), unpaid reimbursement obligations in respect of Letters of Credit and outstanding amounts due and owing under Hedge Agreements approved in writing by Agent, ratably as to all such obligations under this category;
sixth, to pay an amount to Agent equal to all outstanding Letter of Credit Obligations to be held as cash collateral for such Obligations; and seventh, to the payment of any other Obligation (including all amounts with respect to Bank
Products). Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the Borrower, or unless an Event of Default has occurred and is continuing, neither the Agent nor any Lender shall apply any payments which it
receives to any Eurodollar Revolving Loan, except (a) on the expiration date of the Interest Period applicable to any such Eurodollar Revolving Loan, or (b) in the event, and only to the extent, that there are no outstanding Alternate Base
Rate Revolving Loans and, in any event, the Borrower shall pay Eurodollar breakage losses in accordance with Section 4.4. The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and
all such proceeds and payments to any portion of the Obligations. 
 3.8    Indemnity for Returned
Payments. If after receipt of any payment which is applied to the payment of all or any part of the Obligations, the Agent, any Lender, the Bank 

  

 15 

 
or any Affiliate of the Bank is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds
is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason, then the Obligations or part thereof intended to be satisfied shall be
revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Agent or such Lender and the Borrower shall be liable to pay to the Agent and the Lenders, and hereby does indemnify
the Agent and the Lenders and hold the Agent and the Lenders harmless for the amount of such payment or proceeds surrendered. The provisions of this Section 3.8 shall be and remain effective notwithstanding any contrary action which may
have been taken by the Agent or any Lender in reliance upon such payment or application of proceeds, and any such contrary action so taken shall be without prejudice to the Agent’s and the Lenders’ rights under this Agreement and shall be
deemed to have been conditioned upon such payment or application of proceeds having become final and irrevocable. The provisions of this Section 3.8 shall survive the termination of this Agreement. 
 3.9    Agent’s and Lenders’ Books and Records; Monthly Statements. The Agent shall record the
principal amount of the Loans owing to each Lender, the undrawn face amount of all outstanding Letters of Credit and the aggregate amount of unpaid reimbursement obligations outstanding with respect to the Letters of Credit from time to time on its
books. In addition, each Lender may note the date and amount of each payment or prepayment of principal of such Lender’s Loans in its books and records. Failure by Agent or any Lender to make such notation shall not affect the obligations of
the Borrower with respect to the Loans or the Letters of Credit. The Borrower agrees that the Agent’s and each Lender’s books and records showing the Obligations and the transactions pursuant to this Agreement and the other Loan Documents
shall be admissible in any action or proceeding arising therefrom, and shall constitute rebuttably presumptive proof thereof, irrespective of whether any Obligation is also evidenced by a promissory note or other instrument. The Agent will provide
to the Borrower a monthly statement of Loans, payments, and other transactions pursuant to this Agreement. Such statement shall be deemed correct, accurate, and binding on the Borrower and an account stated (except for reversals and reapplications
of payments made as provided in Section 3.7 and corrections of errors discovered by the Agent), unless the Borrower notifies the Agent in writing to the contrary within sixty (60) days after such statement is rendered. In the event
a timely written notice of objections is given by the Borrower, only the items to which exception is expressly made will be considered to be disputed by the Borrower. 
 ARTICLE 4 
 TAXES, YIELD PROTECTION AND ILLEGALITY 
 4.1    Taxes. 
 (a)    Any and all payments by the Borrower to each Lender or the Agent under this Agreement and any other Loan Document shall be made free and clear of, and without deduction or withholding for
any Taxes. In addition, the Borrower shall pay all Other Taxes. 
 (b)    The Borrower agrees to
indemnify and hold harmless each Lender and the Agent for the full amount of Taxes or Other Taxes (including any Taxes or Other Taxes 

  

 16 

 
imposed by any jurisdiction on amounts payable under this Section) paid by any Lender or the Agent and any liability (including penalties, interest,
additions to tax and expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted. Payment under this indemnification shall be made within 30 days after the date such Lender or the
Agent makes written demand therefor. 
 (c)    If the Borrower shall be required by law to deduct or
withhold any Taxes or Other Taxes from or in respect of any sum payable hereunder to any Lender or the Agent, then: 
 (i)    the sum payable shall be increased as necessary so that after making all required deductions and withholdings (including deductions and withholdings applicable to additional sums payable under this Section) such
Lender or the Agent, as the case may be, receives an amount equal to the sum it would have received had no such deductions or withholdings been made; 
 (ii)    the Borrower shall make such deductions and withholdings; 
 (iii)    the Borrower shall pay the full amount deducted or withheld to the relevant taxing authority or other authority in accordance with applicable law; and 
 (iv)    the Borrower shall also pay to each Lender or the Agent for the account of such Lender, at
the time interest is paid, all additional amounts which the respective Lender specifies as necessary to preserve the after-tax yield such Lender would have received if such Taxes or Other Taxes had not been imposed. 
 (d)    At the Agent’s request, within 30 days after the date of any payment by the Borrower of Taxes or Other
Taxes, the Borrower shall furnish the Agent the original or a certified copy of a receipt evidencing payment thereof, or other evidence of payment satisfactory to the Agent. 
 (e)    If the Borrower is required to pay additional amounts to any Lender or the Agent pursuant to subsection (c) of this Section, then such Lender shall use
reasonable efforts (consistent with legal and regulatory restrictions) to change the jurisdiction of its lending office so as to eliminate any such additional payment by the Borrower which may thereafter accrue, if such change in the judgment of
such Lender is not otherwise disadvantageous to such Lender. 
 4.2    Illegality. 
 (a)    If any Lender determines that the introduction of any Requirement of Law, or any change in any Requirement of
Law, or in the interpretation or administration of any Requirement of Law, has made it unlawful, or that any central bank or other Governmental Authority has asserted that it is unlawful, for any Lender or its applicable lending office to make
Eurodollar Revolving Loans, then, on notice thereof by that Lender to the Borrower through the Agent, any obligation of that Lender to make Eurodollar Revolving Loans shall be suspended 

  

 17 

 
until that Lender notifies the Agent and the Borrower that the circumstances giving rise to such determination no longer exist. 
 (b)    If a Lender determines that it is unlawful to maintain any Eurodollar Revolving Loan, the Borrower shall,
upon its receipt of notice of such fact and demand from such Lender (with a copy to the Agent), prepay in full such Eurodollar Revolving Loans of that Lender then outstanding, together with interest accrued thereon and amounts required under
Section 4.4, either on the last day of the Interest Period thereof, if that Lender may lawfully continue to maintain such Eurodollar Revolving Loans to such day, or immediately, if that Lender may not lawfully continue to maintain such
Eurodollar Revolving Loans. If the Borrower is required to so prepay any Eurodollar Revolving Loan, then concurrently with such prepayment, the Borrower shall borrow from the affected Lender, in the amount of such repayment, an Alternate Base
Revolving Loan. 
 4.3    Increased Costs and Reduction of Return. 
 (a)    If any Lender determines that due to either (i) the introduction of or any change in the interpretation
of any law or regulation or (ii) the compliance by that Lender with any guideline or request from any central bank or other Governmental Authority (whether or not having the force of law), there shall be any increase in the cost to such Lender
of agreeing to make or making, funding or maintaining any Eurodollar Revolving Loan, then the Borrower shall be liable for, and shall from time to time, upon demand (with a copy of such demand to be sent to the Agent), pay to the Agent for the
account of such Lender, additional amounts as are sufficient to compensate such Lender for such increased costs. 
 (b)    If any Lender shall have determined that (i) the introduction of any Capital Adequacy Regulation, (ii) any change in any Capital Adequacy Regulation, (iii) any change in the interpretation or
administration of any Capital Adequacy Regulation by any central bank or other Governmental Authority charged with the interpretation or administration thereof, or (iv) compliance by such Lender or any corporation or other entity controlling
such Lender with any Capital Adequacy Regulation, affects or would affect the amount of capital required or expected to be maintained by such Lender or any corporation or other entity controlling such Lender and (taking into consideration such
Lender’s or such corporation’s or other entity’s policies with respect to capital adequacy and such Lender’s desired return on capital) determines that the amount of such capital is increased as a consequence of its Commitments,
loans, credits or obligations under this Agreement, then, upon demand of such Lender to the Borrower through the Agent, the Borrower shall pay to such Lender, from time to time as specified by such Lender, additional amounts sufficient to compensate
such Lender for such increase. 
 4.4    Funding Losses. The Borrower shall reimburse each Lender
and hold each Lender harmless from any loss or expense which such Lender may sustain or incur as a consequence of: 
  

 18 

 (a)    the failure of the Borrower to make on a timely basis any
payment of principal of any Eurodollar Revolving Loan; 
 (b)    the failure of the Borrower to borrow,
continue or convert a Loan after the Borrower has given (or is deemed to have given) a Notice of Borrowing or a Notice of Continuation/Conversion; or 
 (c)    the prepayment or other payment (including after acceleration thereof) of any Eurodollar Revolving Loan on a day that is not the last day of the relevant Interest Period; 
 including any such loss of anticipated profit and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain
its Eurodollar Revolving Loans or from fees payable to terminate the deposits from which such funds were obtained. Borrower shall also pay any customary administrative fees charged by any Lender in connection with the foregoing. 
 4.5    Inability to Determine Rates. If the Agent determines that for any reason adequate and reasonable means
do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Revolving Loan, or that the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Revolving
Loan does not adequately and fairly reflect the cost to the Lenders of funding such Loan, the Agent will promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurodollar Revolving Loans
hereunder shall be suspended until the Agent revokes such notice in writing. Upon receipt of such notice, the Borrower may revoke any Notice of Borrowing or Notice of Continuation/Conversion then submitted by it. If the Borrower does not revoke such
Notice, the Lenders shall make, convert or continue the Loans, as proposed by the Borrower, in the amount specified in the applicable notice submitted by the Borrower, but such Loans shall be made, converted or continued as Alternate Base Rate
Revolving Loans instead of Eurodollar Revolving Loans. 
 4.6    Certificates of Agent. If any
Lender claims reimbursement or compensation under this Article 4, Agent shall determine the amount thereof and shall deliver to the Borrower (with a copy to the affected Lender) a certificate setting forth in reasonable detail the amount payable to
the affected Lender, and such certificate shall be conclusive and binding on the Borrower in the absence of manifest error. 
 4.7    Survival. The agreements and obligations of the Borrower in this Article 4 shall survive the payment of all other Obligations. 
 ARTICLE 5  
 BOOKS AND RECORDS; FINANCIAL INFORMATION; NOTICES 
 5.1    Books and Records. The Borrower shall maintain, at all times, correct and complete books, records and
accounts in which complete, correct and timely entries are made of its transactions in accordance with GAAP applied consistently with the audited Financial Statements required to be delivered pursuant to Section 5.2(a). The Borrower
shall, by means of appropriate entries, reflect in such accounts and in all Financial Statements proper liabilities and reserves for all taxes and proper provision for depreciation and amortization of property and bad 

  

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debts, all in accordance with GAAP. The Borrower shall maintain at all times books and records pertaining to the Collateral in such detail, form and scope as
the Agent or any Lender shall reasonably require, including, but not limited to, records of (a) all payments received and all credits and extensions granted with respect to the Accounts; (b) the return, rejection, repossession, stoppage in
transit, loss, damage, or destruction of any Inventory; and (c) all other dealings affecting the Collateral. 
 5.2    Financial Information. The Borrower shall promptly furnish to each Lender, all such financial information as the Agent shall reasonably request. Without limiting the foregoing, the Borrower will furnish to
the Agent, in sufficient copies for distribution by the Agent to each Lender, in such detail as the Agent or the Lenders shall request, the following: 
 (a)    As soon as available, but in any event not later than ninety (90) days after the close of each Fiscal Year, audited consolidated balance sheets, and income statements, cash flow
statements and changes in stockholders’ equity for the Borrower and its consolidated Subsidiaries for such Fiscal Year, and the accompanying notes thereto, setting forth in each case in comparative form figures for the previous Fiscal Year, all
in reasonable detail, fairly presenting the financial position and the results of operations of the Borrower and its consolidated Subsidiaries as at the date thereof and for the Fiscal Year then ended, and prepared in accordance with GAAP. Such
statements shall be examined in accordance with generally accepted auditing standards by and, in the case of such statements performed on a consolidated basis, accompanied by a report thereon unqualified in any respect of independent certified
public accountants selected by the Borrower and reasonably satisfactory to the Agent. The Borrower, simultaneously with retaining such independent public accountants to conduct such annual audit, shall send a letter to such accountants, with a copy
to the Agent and the Lenders, notifying such accountants that one of the primary purposes for retaining such accountants’ services and having financial statements audited by them is for use by the Agent and the Lenders. To the extent the
Borrower cannot provide Agent with any additional financial statements and other supporting financial documents and schedules as the Agent may request, the Borrower hereby authorizes the Agent, with the Borrower’s participation, to communicate
directly with the Borrower’s certified public accountants and, by this provision, authorizes those accountants to discuss directly with the Agent, with Borrower’s participation, the finances and affairs of the Borrower; provided,
that if any request made to such accountants by the Agent is for information, materials or other supporting financial documents or schedules with respect to matters which are outside the scope of such accountants’ engagement or which have not
been approved for release by Borrower’s audit committee, at the request of Agent, Borrower will propose to its audit committee for consideration at its next scheduled meeting an amendment to include such additional matters in the scope of its
accountants’ engagement and/or to approve the release of such materials or supporting information as Agent shall request; provided, further that such accountants may only disclose such materials and supporting information if
permitted to be disclosed pursuant to such accountants’ policies and procedures. 
 (b)    As soon
as available, but in any event not later than thirty (30) days after the end of each month, unaudited consolidated balance sheets of the Borrower and its consolidated Subsidiaries as at the end of such month, and unaudited consolidated income
statements and cash flow statements for the Borrower and its consolidated Subsidiaries for such month and for the period from the beginning of the Fiscal Year to the end of such month, all in 

  

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reasonable detail, fairly presenting the financial position and results of operations of the Borrower and its consolidated Subsidiaries as at the date
thereof and for such periods, and, in each case, in comparable form, figures for the corresponding period for the prior Fiscal Year and for the Borrower’s budget, and prepared in accordance with GAAP applied consistently as with the audited
Financial Statements required to be delivered pursuant to Section 5.2(a); provided, however, that monthly cash flow statements will be prepared in a manner consistent with the unaudited cash flow statements delivered to
Agent prior to the Closing Date and which is not in accordance with GAAP, The Borrower shall certify by a certificate signed by its chief financial officer that all such statements (except the monthly cash flow statements) have been prepared in
accordance with GAAP and present fairly the Borrower’s financial position as at the dates thereof and its results of operations for the periods then ended, subject to normal year-end adjustments. 
 (c)    [intentionally omitted]. 
 (d)    With each of the annual audited Financial Statements delivered pursuant to Section 5.2(a), and within thirty (30) days after the end of each month, a
certificate of the chief financial officer of the Borrower setting forth in reasonable detail the calculations required to establish that the Borrower was in compliance with the covenant set forth in Section 7.23, during the period
covered in such Financial Statements and as at the end thereof. Within thirty (30) days after the end of each month, a certificate of the chief financial officer of the Borrower stating that, except as explained in reasonable detail in such
certificate, (A) all of the representations and warranties of the Borrower contained in this Agreement and the other Loan Documents are correct and complete in all material respects as at the date of such certificate as if made at such time,
except for those that speak as of a particular date, (B) the Borrower is, at the date of such certificate, in compliance in all material respects with all of its respective covenants and agreements in this Agreement and the other Loan
Documents, (C) no Default or Event of Default then exists or existed during the period covered by the Financial Statements for such month, (D) describing and analyzing in reasonable detail all material trends, changes, and developments in
each and all Financial Statements; and (E) explaining the variances of the figures in the corresponding budgets and prior Fiscal Year financial statements. If such certificate discloses that a representation or warranty is not correct or
complete, or that a covenant has not been complied with, or that a Default or Event of Default existed or exists, such certificate shall set forth what action the Borrower has taken or proposes to take with respect thereto. 
 (e)    Prior to the beginning of each Fiscal Year (commencing with the Fiscal Year beginning December 1, 2007),
annual forecasts (to include forecasted consolidated balance sheets, income statements and cash flow statements) for the Borrower and its Subsidiaries as at the end of and for each month of such Fiscal Year. 
 (f)    Promptly after filing with the PBGC and the IRS, a copy of each annual report and, upon Agent’s request,
such other filings filed with respect to each Plan of the Borrower. 
 (g)    As soon as available, but
in any event not later than forty-five (45) days after the end of each Fiscal Quarter, unaudited consolidated financial statements for such 

  

 21 

 
Fiscal Quarter, in a form consistent with Borrower’s Form 10-Q quarterly report filed with the Securities and Exchange Commission for the Fiscal Quarter
ending February 28, 2003. Promptly upon the filing thereof, Borrower shall notify Agent if any reports or other documents have been filed by the Borrower or any of its Subsidiaries with the Securities and Exchange Commission under the Exchange
Act. Borrower shall promptly provide Agent with copies of any of the above filings if not electronically available and shall promptly provide Agent with copies of all reports, notices, or statements sent or received by the Borrower or any of its
Subsidiaries to or from the holders of any equity interests of the Borrower (other than routine non-material correspondence sent by shareholders of the Borrower to the Borrower) or any such Subsidiary or of any Debt of the Borrower or any of its
Subsidiaries registered under the Securities Act of 1933 or to or from the trustee under any indenture under which the same is issued. 
 (h)    As soon as available, but in any event not later than 15 days after the Borrower’s receipt thereof, a copy of all management reports and management letters prepared for the Borrower by
any independent certified public accountants of the Borrower. 
 (i)    Promptly after their
distribution or filing, as applicable, copies of any and all proxy statements, financial statements, and reports which the Borrower makes available to its shareholders; provided, that if any such materials are available electronically as a
filing with the Securities and Exchange Commission, Borrower shall give Agent prompt notice of such filing and need not provide Agent with copies of such publicly filed materials. 
 (j)    If requested by the Agent, promptly after filing with the IRS, a copy of each tax return filed by the
Borrower or by any of its Subsidiaries. 
 (k)    Within fifteen (15) days after the end of each
month (for such month) or more frequently if requested by Agent, a Borrowing Base Certificate together with supporting information in accordance with Section 9 of the Security Agreement. 
 (l)    On each anniversary date of the Closing Date and at any other time as Agent shall request so long as an Event
of Default has occurred and is continuing, an updated Schedule 6.13 which shall be complete and accurate as of such date. On the last day of each Fiscal Quarter and at any other time as Agent shall request so long as an Event of Default has
occurred and is continuing, an updated Schedule 6.12 which shall be complete and accurate as of such date. 
 (m)    Such additional information as the Agent and/or any Lender may from time to time reasonably request regarding the financial and business affairs of the Borrower or any Subsidiary. 
 5.3    Notices to the Lenders. The Borrower shall notify the Agent and the Lenders in writing of the following
matters at the following times: 
  

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 (a)    Immediately after an officer of Borrower becomes aware of any
Default or Event of Default; 
 (b)    Immediately after an officer of Borrower becomes aware of the
assertion by the holder of any capital stock of the Borrower or of any Subsidiary or the holder of any Debt of the Borrower or any Subsidiary in a face amount in excess of $100,000 that a default exists with respect thereto or that the Borrower or
such Subsidiary is not in compliance with the terms thereof, or the threat or commencement by such holder of any enforcement action because of such asserted default or non-compliance; 
 (c)    Immediately after an officer of Borrower becomes aware of any event or circumstance which could have a
Material Adverse Effect; 
 (d)    Immediately after an officer of Borrower becomes aware of any pending
or threatened action, suit, or proceeding, by any Person, or any pending or threatened investigation by a Governmental Authority, which could reasonably be expected to have a Material Adverse Effect; 
 (e)    Immediately after an officer of Borrower becomes aware of any pending or threatened strike, work stoppage,
unfair labor practice claim, or other labor dispute affecting the Borrower or any of its Subsidiaries in a manner which could reasonably be expected to have a Material Adverse Effect; 
 (f)    Immediately after an officer of Borrower becomes aware of any violation of any law, statute, regulation, or
ordinance of a Governmental Authority affecting the Borrower or any Subsidiary which could reasonably be expected to have a Material Adverse Effect; 
 (g)    Immediately after receipt of any notice of any violation by the Borrower or any of its Subsidiaries of any Environmental Law which could reasonably be expected to have a Material Adverse
Effect or that any Governmental Authority has asserted in writing that the Borrower or any Subsidiary is not in compliance with any Environmental Law or is investigating the Borrower’s or such Subsidiary’s compliance therewith, which
non-compliance could reasonably be expected to have a Material Adverse Effect; 
 (h)    Immediately
after receipt of any written notice that the Borrower or any of its Subsidiaries is or may be liable to any Person as a result of the Release or threatened Release of any Contaminant or that the Borrower or any Subsidiary is subject to investigation
by any Governmental Authority evaluating whether any remedial action is needed to respond to the Release or threatened Release of any Contaminant which, in either case, is reasonably likely to give rise to liability of Borrower in excess of
$850,000; 
 (i)    Immediately after receipt of any written notice of the imposition of any
Environmental Lien against any property of the Borrower or any of its Subsidiaries; 
 (j)    Any change
in the Borrower’s name as it appears in the state of its incorporation or other organization, state of incorporation or organization, type of entity, organizational identification number, locations of Collateral, or form of organization, trade

  

 23 

 
names under which the Borrower will sell Inventory or create Accounts, or to which instruments in payment of Accounts may be made payable, in each case at
least thirty (30) days prior thereto; 
 (k)    Within ten (10) Business Days after the
Borrower or any ERISA Affiliate knows or has reason to know, that an ERISA Event (other than a Reportable Event with respect to a Pension Plan) or a prohibited transaction (as defined in Sections 406 of ERISA and 4975 of the Code) has occurred, and,
when known, any action taken or threatened by the IRS, the DOL or the PBGC with respect thereto; and in the event a Reportable Event with respect to a Pension Plan occurs within ten Business Days after such occurrence and before such occurrence is
reported to the PBGC. 
 (1)    Upon request, or, in the event that such filing reflects a significant
change with respect to the matters covered thereby, within three (3) Business Days after the filing thereof with the PBGC, the DOL or the IRS, as applicable, copies of the following: (i) each annual report (Form 5500 series), including
Schedule B thereto, filed with the PBGC, the DOL or the IRS with respect to each Plan, (ii) a copy of each funding waiver request filed with the PBGC, the DOL or the IRS with respect to any Plan and all communications received by the Borrower
or any ERISA Affiliate from the PBGC, the DOL or the IRS with respect to such request, and (iii) a copy of each other filing or notice filed with the PBGC, the DOL or the IRS, with respect to each Plan by either the Borrower or any ERISA
Affiliate; 
 (m)    Upon request, copies of each actuarial report for any Plan or Multi-employer Plan
and annual report for any Multi-employer Plan and a summary of any changes in the benefits of any existing Plan which increases the Borrower’s annual costs with respect thereto by an amount in excess of $1,000,000; and within three
(3) Business Days after receipt by an officer of Borrower or an officer of any ERISA Affiliate, copies of the following: (i) any notices of the PBGC’s intention to terminate a Plan or to have a trustee appointed to administer such
Plan; (ii) any favorable or unfavorable determination letter from the IRS regarding the qualification of a Plan under Section 401(a) of the Code; or (iii) any notice from a Multi-employer Plan regarding the imposition of withdrawal
liability; 
 (n)    Within three (3) Business Days after an officer of the Borrower becomes aware
of the occurrence thereof: (i) the establishment of any new Plan or the commencement of contributions to any Plan to which the Borrower or any ERISA Affiliate was not previously contributing; or (ii) any failure by the Borrower or any
ERISA Affiliate to make a required installment or any other required payment under Section 412 of the Code on or before the due date for such installment or payment; or 
 (o)    Within three (3) Business Days after an officer of the Borrower or any ERISA Affiliate knows or has reason to know that any of the following events has or will
occur: (i) a Multi-employer Plan has been or will be terminated; (ii) the administrator or plan sponsor of a Multi-employer Plan intends to terminate a Multi-employer Plan; or (iii) the PBGC has instituted or will institute
proceedings under Section 4042 of ERISA to terminate a Multi-employer Plan. 
  

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 Each notice given under this Section shall describe the subject matter thereof in
reasonable detail, and shall set forth the action that the Borrower, its Subsidiary, or any ERISA Affiliate, as applicable, has taken or proposes to take with respect thereto. 
 5.4    Appraisals. Whenever a Default or Event of Default exists, and at such other times not more frequently than once a year as the Agent requests, the Borrower
shall, at its expense and upon the Agent’s request, provide the Agent with an Appraisal. 
 ARTICLE 6 
 GENERAL WARRANTIES AND REPRESENTATIONS 
 The Borrower warrants and represents to the Agent and the Lenders that except as hereafter disclosed to and accepted by the Agent and the Required Lenders in writing: 
 6.1    Authorization, Validity, and Enforceability of this Agreement and the Loan Documents. The Borrower has
the power and authority to execute, deliver and perform this Agreement and the other Loan Documents to which it is a party, to incur the Obligations, and to grant to the Agent Liens upon and security interests in the Collateral. The Borrower has
taken all necessary action (including obtaining approval of its stockholders if necessary) to authorize its execution, delivery, and performance of this Agreement and the other Loan Documents to which it is a party. This Agreement and the other Loan
Documents to which it is a party have been duly executed and delivered by the Borrower, and constitute the legal, valid and binding obligations of the Borrower, enforceable against it in accordance with their respective terms. The Borrower’s
execution, delivery, and performance of this Agreement and the other Loan Documents to which it is a party do not and will not conflict with, or constitute a violation or breach of (excluding conflicts, violations or breaches of any provision in any
contract prohibiting the grant of a lien in specific leased or licensed assets), or result in the imposition of any Lien upon the property of the Borrower or any of its Subsidiaries, by reason of the terms of (a) any contract, mortgage, lease,
agreement, indenture, or instrument to which the Borrower is a party or which is binding upon it and which involves obligations in excess of $500,000, (b) any Requirement of Law applicable to the Borrower or any of its Subsidiaries, or
(c) the certificate or articles of incorporation or by-laws or the limited liability company or limited partnership agreement of the Borrower or any of its Subsidiaries. 
 6.2    Validity and Priority of Security Interest. The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all the Collateral in
favor of the Agent, for the ratable benefit of the Agent and the Lenders, and such Liens constitute perfected and continuing Liens on all the Collateral, having priority over all other Liens on the Collateral, except for those Liens identified in
clauses (c), (d), (e) and (g) of the definition of Permitted Liens securing all the Obligations, and enforceable against the Borrower and all third parties. 
 6.3    Organization and Qualification. The Borrower (a) is duly organized or incorporated and validly
existing in good standing under the laws of the state of its organization or incorporation, (b) is qualified to do business and is in good standing in the jurisdictions set forth on Schedule 6.3 which are the only jurisdictions in which
qualification is necessary in order for it to own or lease its property and conduct its business and in respect of any jurisdiction 

  

 25 

 
outside the United States, where the failure to so qualify in such jurisdiction could reasonably be expected to have a Material Adverse Effect and
(c) has all requisite power and authority to conduct its business and to own its property. 
 6.4    Corporate Name; Prior Transactions. The Borrower has not, during the past five (5) years, been known by or used any other corporate or fictitious name other than Omnova Solutions Inc., or been a party
to any merger or consolidation, or acquired all or substantially all of the assets of any Person, or acquired any of its property outside of the ordinary course of business. 
 6.5    Subsidiaries and Affiliates. Schedule 6.5 is a correct and complete list of the name and relationship to the Borrower of each and all of the
Borrower’s Subsidiaries and other Affiliates subject to the addition of any new Subsidiaries pursuant to a Permitted Acquisition. Each Subsidiary is (a) duly incorporated or organized and validly existing in good standing under the laws of
its state of incorporation or organization set forth on Schedule 6.5. and (b) qualified to do business and in good standing in each jurisdiction in which the failure to so qualify or be in good standing could reasonably be expected to
have a material adverse effect on any such Subsidiary’s business, operations, Collateral, or condition (financial or otherwise) and (c) has all requisite power and authority to conduct its business and own its property. 
 6.6    Financial Statements and Projections. 
 (a)    The Borrower has delivered to the Agent and the Lenders the audited balance sheet and related statements of
income, retained earnings, cash flows, and changes in stockholders equity for the Borrower and its consolidated Subsidiaries as of November 30, 2006, and for the Fiscal Year then ended, accompanied by the report thereon of the Borrower’s
independent certified public accountants, Ernst & Young. The Borrower has also delivered to the Agent and the Lenders the unaudited balance sheet and related statements of income and cash flows for the Borrower and its consolidated
Subsidiaries for the month ending March 31, 2007. Such financial statements are attached hereto as Exhibit C. All such financial statements have been prepared in accordance with GAAP (other than for monthly cash flow statements which
have been prepared in a manner consistent with the unaudited cash flow statements delivered to Agent prior to the Closing Date) and present accurately and fairly in all material respects the financial position of the Borrower and its consolidated
Subsidiaries as at the dates thereof and their results of operations for the periods then ended. 
 (b)    The Latest Projections when submitted to the Lenders as required herein represent the Borrower’s best estimate of the future financial performance of the Borrower and its consolidated Subsidiaries for the
periods set forth therein. The Latest Projections have been prepared on the basis of the assumptions set forth therein, which the Borrower believes are fair and reasonable in light of current and reasonably foreseeable business conditions at the
time submitted to the Lenders. 
 6.7    [Intentionally Deleted] 
 6.8    Solvency. The Borrower is Solvent and prior to and after giving effect to the Borrowings to be made on
the Closing Date, the incurrence of the Debt under the Term Loan 

  

 26 

 
Agreement, and the issuance of the Letters of Credit to be issued on the Closing Date, and shall remain Solvent during the term of this Agreement.

 6.9    Debt. After giving effect to the making of the Revolving Loans to be made on the Closing
Date, the Borrower and its Subsidiaries have no Debt, except (a) the Obligations, (b) the Debt under the Term Loan Agreement, and (c) Debt described on Schedule 6.9. 
 6.10    Distributions. Since November 30, 2006, no Distribution has been declared, paid, or made upon or
in respect of any capital stock or other securities of the Borrower or any of its Subsidiaries. 
 6.11    Real Estate; Leases; Liens. Schedule 6.11 sets forth, as of the Closing Date, a correct and complete list of all Real Estate owned by the Borrower and all Real Estate owned by any of its
Subsidiaries, all leases and subleases of real or personal property held by the Borrower as lessee or sublessee (other than any lease of personal property as to which the Borrower is lessee or sublessee for which the aggregate payments with respect
to such lease in any Fiscal Year are less than 5100,000), and all leases and subleases of real or personal property held by the Borrower as lessor, or sublessor. Each of such leases and subleases in respect of real property where the Borrower
maintains Collateral (including, without limitation, its offices in Fairlawn, Ohio) is valid and enforceable in accordance with its terms and is in full force and effect, and no default by any party to any such lease or sublease exists. With respect
to all other leases and subleases of real or personal property, each of such leases and subleases is valid and enforceable in accordance with its terms and is in full force and effect, and no default by any party to any such lease or sublease exists
except for defaults that could not be reasonably expected to have a Material Adverse Effect. The Borrower has good and marketable title in fee simple to the Real Estate identified on Schedule 6.11 as owned by the Borrower, or valid leasehold
interests in all Real Estate designated therein as “leased” by the Borrower and the Borrower and its Subsidiaries have good, indefeasible, and merchantable title to all of their respective property reflected on the November 30, 2006
Financial Statements delivered to the Agent and the Lenders, except as disposed of in the ordinary course of business since the date thereof. Except as disclosed on Schedule 6.11. Borrower and its Subsidiaries own their assets free of all
Liens except Permitted Liens. 
 6.12    Proprietary Rights. Schedule 6.12 sets forth a
correct and complete list of all of the Borrower’s Proprietary Rights, as updated by Borrower pursuant to Section 5.2(1). None of the Proprietary Rights is subject to any licensing agreement or similar arrangement except as
set forth on Schedule 6.12, as updated by Borrower pursuant to Section 5.2(1). To the best of the Borrower’s knowledge, none of the Proprietary Rights infringes on or conflicts with any other Person’s property, and no
other Person’s property infringes on or conflicts with the Proprietary Rights to the extent that such infringement or conflict with the Proprietary Rights could, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. The Proprietary Rights described on Schedule 6.12 (as updated by Borrower pursuant to Section 5.2(l)) constitute all of the property of such type necessary to the current conduct of the Borrower’s business.

  

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 6.13    Trade Names. All trade names under which the Borrower
or any of its Subsidiaries will sell Inventory or create Accounts, or to which instruments in payment of Accounts may be made payable, are listed on Schedule 6.13, as updated by Borrower pursuant to Section 5.2(1). 
 6.14    Litigation. Except as set forth on Schedule 6.14, there is no pending, or to the best of the
Borrower’s knowledge threatened, action, suit, proceeding, or counterclaim by any Person, or to the best of the Borrower’s knowledge, investigation by any Governmental Authority, or any basis for any of the foregoing, which could
reasonably be expected to have a Material Adverse Effect. 
 6.15    Labor Disputes. Except as set
forth on Schedule 6.15, as of the Closing Date (a) there is no collective bargaining agreement or other labor contract covering employees of the Borrower or any of its Subsidiaries, (b) no such collective bargaining agreement or
other labor contract is scheduled to expire during the term of this Agreement, (c) to the best of Borrower’s knowledge, no union or other labor organization is seeking to organize, or to be recognized as, a collective bargaining unit of
employees of the Borrower or any of its Subsidiaries or for any similar purpose, (d) there is no pending or (to the best of the Borrower’s knowledge) threatened, strike or work stoppage and (e) there is no pending or (to the best of
the Borrower’s knowledge) threatened unfair labor practice claim, or other labor dispute against or affecting the Borrower or its Subsidiaries or their employees that could, individually or in the aggregate, reasonably be expected to have a
Material Adverse effect. 
 6.16    Environmental Laws. Except as otherwise disclosed on
Schedule 6.16, to the best knowledge of each officer of Borrower, based on reasonable investigation and inquiry: 
  

 28 

 (a)    The Borrower and its Subsidiaries have complied in all
material respects with all Environmental Laws for which such failure to comply could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect and neither the Borrower nor any Subsidiary nor any of its presently
owned real property or presently conducted operations, nor its previously owned real property or prior operations, is subject to any enforcement order from or liability agreement with any Governmental Authority or private Person respecting
(i) compliance with any Environmental Law or (ii) any potential liabilities and costs or remedial action arising from the Release or threatened Release of a Contaminant, that in either instance could, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. 
 (b)    The Borrower and its Subsidiaries
have obtained or filed applications for all permits necessary for their current operations under Environmental Laws, and all such permits are in good standing and the Borrower and its Subsidiaries are in compliance with all material terms and
conditions of such permits. 
 (c)    Neither the Borrower nor any of its Subsidiaries nor any of its
predecessors in interest, has in violation of applicable law stored, treated or disposed of any hazardous waste except where such violation, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

 (d)    Neither the Borrower nor any of its Subsidiaries has received any summons, complaint, order or
similar written notice indicating that it is not currently in compliance with, or that any Governmental Authority is investigating its compliance with, any Environmental Laws or that it is or may be liable to any other Person as a result of a
Release or threatened Release of a Contaminant, that in either instance could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (e)    None of the present or past operations of the Borrower and its Subsidiaries is the subject of any investigation by any Governmental Authority evaluating whether any
remedial action is needed to respond to a Release or threatened Release of a Contaminant that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (f)    Neither the Borrower nor any of its Subsidiaries has filed any notice under any requirement of Environmental
Law reporting a spill or accidental and unpermitted Release or discharge of a Contaminant into the environment which could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (g)    Neither the Borrower nor any of its Subsidiaries has entered into any negotiations or settlement agreements
with any Person (including the prior owner of its property) imposing material obligations or liabilities on the Borrower or any of its Subsidiaries with respect to any remedial action in response to the Release of a Contaminant or environmentally
related claim. 
 (h)    None of the products manufactured, distributed or sold by the Borrower or any
of its Subsidiaries contain asbestos containing material. 
  

 29 

 (i)    No Environmental Lien has attached to the Real Estate.

 6.17    No Violation of Law. Neither the Borrower nor any of its Subsidiaries is in violation
of any law, statute, regulation, ordinance, judgment, order, or decree applicable to it which violation could reasonably be expected to have a Material Adverse Effect. 
 6.18    No Default. Neither the Borrower nor any of its Subsidiaries is in default with respect to any note, indenture, loan agreement, mortgage, lease, deed, or other
agreement to which the Borrower or such Subsidiary is a party or by which it is bound, which default could reasonably be expected to have a Material Adverse Effect. 
 6.19    ERISA Compliance. Except as specifically disclosed in Schedule 6.19: 
 (a)    Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other federal or state law and listed on Schedule 6.19. Each
Plan which is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS and to the best knowledge of the Borrower, nothing has occurred which would cause the loss of such qualification.
The Borrower and each ERISA Affiliate have made all required contributions to any Plan subject to Section 412 of the Code, and no application for a funding waiver or an extension of any amortization period pursuant to Section 412 of the
Code has been made with respect to any Plan. 
 (b)    There are no pending or, to the best knowledge of
Borrower, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan which has resulted or could reasonably be expected to result in a Material Adverse Effect. There has been no prohibited transaction
or violation of the fiduciary responsibility rules with respect to any Plan which has resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c)    (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; (iii) neither the Borrower nor
any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) neither the Borrower
nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Section 4201 or 4243 of
ERISA with respect to a Multiemployer Plan; and (v) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or 4212(c) of ERISA. 
 6.20    Taxes. The Borrower and its Subsidiaries have filed all federal and other tax returns and reports
required to be filed, and have paid all federal and other taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable unless such unpaid taxes and assessments
would constitute a Permitted Lien. 
 6.21    Regulated Entities. None of the Borrower, any Person
controlling the Borrower, or any Subsidiary, is an “Investment Company” within the meaning of the Investment Company Act of 1940. The Borrower is not subject to regulation under the Federal Power Act, 

  

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the Interstate Commerce Act, any state public utilities code or law, or any other federal or state statute or regulation limiting its ability to incur
indebtedness. 
 6.22    Use of Proceeds; Margin Regulations. The proceeds of the Loans are to be
used solely for general corporate purposes, to refinance certain existing indebtedness and for working capital purposes. Neither the Borrower nor any Subsidiary is engaged in the business of purchasing or selling Margin Stock or extending credit for
the purpose of purchasing or carrying Margin Stock. 
 6.23    Copyrights, Patents, Trademarks and
Licenses, etc. The Borrower owns or is licensed or otherwise has the right to use all of the patents, trademarks, service marks, trade names, copyrights, contractual franchises, licenses, rights of way, authorizations and other rights that are
reasonably necessary for the operation of its businesses, without conflict with the rights of any other Person except where any conflict, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. To the
best knowledge of the Borrower, no slogan or other advertising device, product, process, method, substance, part or other material now employed by the Borrower or any Subsidiary infringes upon any valid, enforceable intellectual property rights held
by any other Person. No claim or litigation regarding any of the foregoing is pending or, to the knowledge of Borrower, threatened, which, in either case, could reasonably be expected to have a Material Adverse Effect. 
 6.24    No Material Adverse Change. As of the Closing Date, no Material Adverse Effect has occurred since
November 30, 2006. 
 6.25    Full Disclosure. None of the representations or warranties made
by the Borrower or any Subsidiary in the Loan Documents as of the date such representations and warranties are made or deemed made, and none of the statements contained in any exhibit, report, statement or certificate furnished by or on behalf of
the Borrower or any Subsidiary in connection with the Loan Documents (including the offering and disclosure materials delivered by or on behalf of the Borrower to the Lenders prior to the Closing Date), contains any untrue statement of a material
fact or omits any material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which they are made, not misleading as of the time when made or delivered. 
 6.26    Material Agreements. Schedule 6.26 hereto sets forth as of the Closing Date all material
agreements and contracts to which the Borrower or any of its Subsidiaries is a party or is bound as of the date hereof. 
 6.27    Bank Accounts. Schedule 6.27 contains as of the Closing Date a complete and accurate list of all bank accounts maintained by the Borrower with any bank or other financial institution. 
 6.28    Governmental Authorization. No approval, consent, exemption, authorization, or other action by, or
notice to, or filing with, any Governmental Authority or other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, the Borrower or any of its Subsidiaries of this Agreement or any
other Loan Document. 
  

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 6.29    Insurance. Schedule 6.29 summarizes the
property and casualty insurance carried by the Borrower with respect to itself and its Subsidiaries. Schedule 6.29 includes the insurer’s or insurers’ name(s), policy number(s), expiration date(s), amount(s) of coverage, type(s) of
coverage and deductibles. Schedule 6,29 also includes similar information, and describes any reserves, relating to any self-insurance program that is in effect. 
 6.30    Inactive Subsidiaries. Except as set forth on Schedule 6.30, none of the Inactive Subsidiaries (a) has assets with an aggregate book value in excess
of $5,000 (other than equity in its foreign Subsidiaries), (b) has any material liabilities or (c) engage in any business activities. 
 6.31    Reportable Transaction. The Borrower does not intend to treat the Advances and related transactions as being a “reportable transaction” (within the meaning of Treasury
Regulation Section 1.6011-4). In the event the Borrower determines to take any action inconsistent with such intention, it will promptly notify the Agent thereof. 
 ARTICLE 7  
 AFFIRMATIVE AND NEGATIVE COVENANTS 
 The Borrower covenants to the Agent and each Lender that so long as any of the Obligations remain outstanding or this Agreement is in
effect: 
 7.1    Taxes and Other Obligations. The Borrower shall, and shall cause each of its
Subsidiaries to, (a) file when due all tax returns and other reports which it is required to file; (b) pay, or provide for the payment, when due, of all taxes, fees, assessments and other governmental charges against it or upon its
property, income and franchises, make all required withholding and other tax deposits, and establish adequate reserves for the payment of all such items, and provide to the Agent and the Lenders, upon request, satisfactory evidence of its timely
compliance with the foregoing; and (c) pay when due all Debt owed by it and all claims of materialmen, mechanics, carriers, warehousemen, landlords, processors and other like Persons, and all other indebtedness owed by it and perform and
discharge in a timely manner all other obligations undertaken by it; provided, however, so long as the Borrower has notified the Agent in writing, neither the Borrower nor any of its Subsidiaries need pay any tax, fee, assessment, or
governmental charge or claims of materialmen, mechanics, carriers, warehousemen, landlords, processors and other like Persons (i) it is contesting in good faith by appropriate proceedings diligently pursued, (ii) as to which the Borrower
or its Subsidiary, as the case may be, has established proper reserves as required under GAAP, and (iii) the nonpayment of which does not result in the imposition of a Lien (other than a Permitted Lien) or if such nonpayment will result in a
Lien (other than a Permitted Lien) such anticipated Lien is bonded to the reasonable satisfaction of Agent (A) within thirty (30) days after the imposition of such Lien if such Lien is imposed solely on Borrower’s owned Real Estate or
(B) in all other cases, prior to the time such Lien is imposed. 
 7.2    Legal Existence and
Good Standing. The Borrower shall, and shall cause each of its Subsidiaries to, maintain its legal existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good
standing could reasonably be expected to have a Material Adverse Effect. 
  

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 7.3    Compliance with Law and Agreements; Maintenance of
Licenses. The Borrower shall comply, and shall cause each Subsidiary to comply, in all material respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business (including the Federal Fair Labor
Standards Act and all Environmental Laws). The Borrower shall, and shall cause each of its Subsidiaries to, obtain and maintain all licenses, permits, franchises, and governmental authorizations necessary to own its property and to conduct its
business as conducted on the Closing Date. The Borrower shall not modify, amend or alter its certificate or articles of incorporation or bylaws, other than in a manner which does not adversely affect the rights of the Lenders or the Agent.

 7.4    Maintenance of Property; Inspection of Property. 
 (a)    The Borrower shall, and shall cause each of its Subsidiaries to, maintain all of its property necessary and
useful in the conduct of its business, in good operating condition and repair, ordinary wear and tear excepted. 
 (b)    The Borrower shall maintain complete and accurate books and records (in accordance with GAAP) with respect to the financial operations of the Borrower and the Collateral, and furnish to the Agent, with sufficient
copies for each of the Lenders, such reports relating to the Collateral as the Agent shall from time to time request. 
 (c)    The Borrower shall permit representatives and independent contractors of the Agent (at the expense of the Borrower) and, so long as no Event of Default has occurred and is continuing, not to exceed two
(2) times per year to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom and to discuss its affairs, finances and accounts with its directors,
officers and independent public accountants, at such reasonable times during normal business hours and as soon as may be reasonably desired, upon reasonable advance notice to the Borrower; provided, however, when an Event of Default
exists, the Agent or any Lender may do any of the foregoing at the expense of the Borrower at any time during normal business hours and without advance notice. 
 7.5    Insurance. 
 (a)    The Borrower shall maintain, and shall cause each of its Subsidiaries to maintain, with financially sound and reputable insurers having a rating of at least A or better by Best Rating Guide, insurance against loss
or damage by fire with extended coverage; theft, burglary, pilferage and loss in transit; public liability and third party property damage; larceny, embezzlement or other criminal liability; business interruption; public liability and third party
property damage; and such other hazards or of such other types as is customary for Persons engaged in the same or similar business, as the Agent, in its discretion, or acting at the direction of the Required Lenders, shall specify, in amounts, and
under policies acceptable to the Agent and the Required Lenders. Without limiting the foregoing, in the event that any improved Real Estate is determined to be located within an area that has been identified by the Director of the Federal Emergency
Management Agency as a Special Flood Hazard Area (“SFHA”), the Borrower shall purchase and maintain flood insurance on the improved Real Estate and any Equipment and Inventory located on such Real Estate. The amount of said flood 

  

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insurance will be reasonably determined by the Agent, and shall, at a minimum, comply with applicable federal regulations as required by the Flood Disaster
Protection Act of 1973, as amended. The Borrower shall also maintain flood insurance for its Inventory and Equipment which is, at any time, located in a SFHA. 
 (b)    The Borrower shall cause the Agent, for the ratable benefit of the Agent and the Lenders, to be named as secured party and sole loss payee on all business interruption
insurance policies and all insurance policies covering the Collateral or additional insured, in a manner acceptable to the Agent. Each policy of insurance shall contain a clause or endorsement requiring the insurer to give not less than thirty
(30) days’ prior written notice to the Agent in the event of cancellation of the policy for any reason whatsoever and a clause or endorsement stating that the interest of the Agent shall not be impaired or invalidated by any act or neglect
of the Borrower or any of its Subsidiaries or the owner of any Real Estate for purposes more hazardous than are permitted by such policy. All premiums for such insurance shall be paid by the Borrower when due, and certificates of insurance and, if
requested by the Agent or any Lender, photocopies of the policies, shall be delivered to the Agent, in each case in sufficient quantity for distribution by the Agent to each of the Lenders. If the Borrower fails to procure such insurance or to pay
the premiums therefor when due, the Agent may, and at the direction of the Required Lenders shall, do so from the proceeds of Revolving Loans. 
 7.6    Insurance and Condemnation Proceeds. The Borrower shall promptly notify the Agent and the Lenders of any loss, damage, or destruction to the Collateral in excess of $500,000, whether
or not covered by insurance. The Agent is hereby authorized to collect all business interruption proceeds and all other insurance and condemnation proceeds in respect of Collateral directly and to apply or remit them as follows: 
 (i) With respect to insurance and condemnation proceeds relating to Collateral and proceeds of business interruption
insurance, after deducting from such proceeds the reasonable expenses, if any, incurred by the Agent in the collection or handling thereof, the Agent shall apply such proceeds, ratably, to the reduction of the Obligations in the order provided for
in Section 3.7. 
 (ii) With respect to insurance and condemnation proceeds relating to Fixed
Assets, to the extent not prohibited by the terms of the Term Loan Agreement, the Borrower shall use such proceeds, or any part thereof, to replace, repair, restore or rebuild the relevant Fixed Assets in a diligent and expeditious manner with
materials and workmanship of substantially the same quality as existed before the loss, damage or destruction; provided that Borrower need not comply with the requirements under this clause (ii) to the extent it demonstrates to
Agent’s satisfaction that Borrower’s remaining Fixed Assets are sufficient for Borrower to continue producing and processing Inventory in a manner which is substantially similar to the operations of Borrower existing immediately prior to
the event resulting in insurance and condemnation proceeds being issued. 
  

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 7.7    Environmental Laws. 
 (a) The Borrower shall, and shall cause each of its Subsidiaries to, conduct its business in compliance in all material respects with
all Environmental Laws applicable to it, including those relating to the generation, handling, use, storage, and disposal of any Contaminant. The Borrower shall, and shall cause each of its Subsidiaries to, take prompt and appropriate action to
respond to any non-compliance with Environmental Laws. 
 (b) The Agent or any Lender may request copies of technical
reports prepared by the Borrower and its communications with any Governmental Authority to determine whether the Borrower or any of its Subsidiaries is proceeding reasonably to correct, cure or contest in good faith any alleged non-compliance or
environmental liability. 
 7.8    Compliance with ERISA. The Borrower shall, and shall cause each
of its ERISA Affiliates to: (a) maintain each Plan in compliance in all material respects with the applicable provisions of ERISA, the Code and other federal or state law; (b) cause each Plan which is qualified under Section 401
(a) of the Code to maintain such qualification; (c) make all required contributions to any Plan subject to Section 412 of the Code; (d) not engage in a prohibited transaction or violation of the fiduciary responsibility rules
with respect to any Plan; and (e) not engage in a transaction that could be subject to Section 4069 or 4212(c) of ERISA. 
 7.9    Mergers, Consolidations or Sales. Neither the Borrower nor any of its Subsidiaries shall enter into any transaction of merger, reorganization, or consolidation, or transfer, sell, assign, lease, or
otherwise dispose of all or any part of its property, or wind up, liquidate or dissolve, or agree to do any of the foregoing, except (a) for sales of Inventory in the ordinary course of its business, (b) for sales or other dispositions of
Proprietary Rights that are obsolete or no longer useable by Borrower in its Business; provided, that any such Proprietary Right to be sold or disposed of by Borrower is not related to the production, processing, sale or distribution of
inventory or collection on Accounts, (c) for sales of Fixed Assets not to exceed $5,000,000 in any Fiscal Year; provided, that Borrower may sell additional Fixed Assets in excess of such amount to the extent it first demonstrates to
Agent’s satisfaction that Borrower’s remaining Fixed Assets are sufficient for Borrower to continue producing and processing Inventory in a manner which is substantially similar to the operations of Borrower existing immediately prior to
such proposed sale, (d) the merger of Omnova Overseas, Inc. with and into Borrower as long as Borrower is the surviving entity and (e) mergers in connection with consummation of Permitted Acquisitions so long as Borrower is the surviving
corporation. Within 270 days following each sale or disposition of Fixed Assets, the Borrower shall reinvest the proceeds of that sale or disposition in other Fixed Assets unless it first demonstrates to Agent’s satisfaction that
Borrower’s remaining Fixed Assets are sufficient for Borrower to continue producing and processing Inventory in a manner which is substantially similar to the operations of Borrower existing immediately prior to such sale or disposition, in
which case it may then apply such proceeds in any manner permitted under the terms of the Term Loan Agreement. 
 7.10    Distributions; Capital Change; Restricted Investments. Neither the Borrower nor any of its Subsidiaries shall (a) directly or indirectly declare or make, or incur any liability to make, any
Distribution, except Distributions to the Borrower by its Subsidiaries, (b) 

  

 35 

 
make any change in its capital structure which could have a Material Adverse Effect or (c) make any Restricted Investment. Notwithstanding the
foregoing, so long as no Event of Default has occurred and is continuing immediately before and after giving effect to the following, Borrower may: (i) purchase its common stock for any Plan not to exceed $1,000,000 in a single transaction or
series of related transactions and not to exceed $3,000,000 in the aggregate in any Fiscal Year, (ii) make additional investments in its Subsidiaries formed in the United Kingdom and/or purchase the equity interests of CPPC Decorative Products
Co., Ltd. and CG Omnova Decorative Products (Shanghai) Co., Ltd. held by Chroen Pokphand Group; provided that (x) no more than $5,000,000 of Revolving Loans in the aggregate can be used to fund the aggregate amount of all such
investments in its Subsidiaries formed in the United Kingdom through the Stated Termination Date and no more than $5,000,000 of Revolving Loans in the aggregate can be used to fund the aggregate amount of all such purchases of the equity interests
of CCPC Decorative Products Co., Ltd. and CG Omnova Decorative Products (Shanghai) Co., Ltd. held by Chroen Pokphand Group through the Stated Termination Date and (y) Borrower’s Availability equals an amount no less than $25,000,000
immediately prior and immediately after giving effect to any such investment or purchase, (iii) make a dividend to its stockholders once in each Fiscal Quarter commencing with the Fiscal Quarter beginning on June 1, 2007 so long as
(A) Borrower has provided Agent with five (5) Business Days prior written notice of its proposal to make a dividend, (B) Agent shall have received Borrower’s quarterly or annual Financial Statements delivered pursuant to
Section 5.2(a) or Section 5.2(g) hereof for the immediately prior Fiscal Quarter or Fiscal Year, as applicable, for which Borrower has received written notice from Agent that such Financial Statements are in form and
substance satisfactory to Agent in Agent’s reasonable judgment, (C) Borrower’s Availability equals an amount no less than $25,000,000 after giving effect to such dividend and (D) the aggregate amount of all dividends made in any
Fiscal Year does not exceed the amount of dividends permitted to be made to the shareholders of the Borrower under the terms of the Term Loan Agreement as in effect on the date hereof and (iv) make a Permitted Acquisition; provided, that
all the terms and conditions set forth in the definition of “Permitted Acquisition” are satisfied at or prior to the effective date of such Permitted Acquisition. 
 7.11    Transactions Affecting Collateral or Obligations. Neither the Borrower nor any of its Subsidiaries shall enter into any transaction which would be reasonably
expected to have a Material Adverse Effect. 
 7.12    Guaranties. Neither the Borrower nor any of
its Subsidiaries shall make, issue, or become liable on any Guaranty, except (a) guaranties of the Obligations, (b) guarantees of the Debt under the Term Loan Agreement (to the extent such guarantees are from subsidiaries that guarantee
the Obligations), and (c) guaranties by the Borrower of obligations of another Person not to exceed $1,000,000 in contingent liabilities in the aggregate at any time outstanding. 
 7.13    Debt. Neither the Borrower nor any of its Subsidiaries shall incur or maintain any Debt, other than:
(a) the Obligations; (b) the Debt under the Term Loan Agreement and guarantees thereof; (c) Debt described on Schedule 6.9; (d) Capital Leases of Equipment and purchase money secured Debt incurred to purchase Equipment
provided that (i) Liens securing the same attach only to the Equipment acquired by the incurrence of such Debt, and (ii) the aggregate amount of such Debt (including Capital Leases) outstanding does not exceed 

  

 36 

 
$10,000,000 at any time; (e) Debt of foreign Subsidiaries from time to time owing to Persons other than the Borrower or its Subsidiaries; provided, that
(i) the aggregate amount of such Debt for all such foreign Subsidiaries under this clause (e) does not exceed $10,000,000 at any one time outstanding and (ii) the holder of any such Debt shall have no recourse against Borrower or any
of its Subsidiaries organized within the United States and (f) Debt evidencing a refunding, renewal, increase or extension of the Debt described in clause (b) above or on Schedule 6.9; provided, that in each case (i) the
principal amount thereof is not increased other than in the case of the Debt under the Term Loan Agreement, the aggregate principal amount of which may be increased by an aggregate amount not to exceed $75,000,000 so long as (u) no Default or
Event of Default shall have occurred and then be continuing immediately before or after giving effect to such increase; (v) after giving pro forma effect to the incurrence of such additional Debt and the use of the proceeds thereof, the pro
forma ratio of trailing 12-month EBITDA to Interest Expense would be greater than 2.00:1.00, (w) the maturity date of such additional Debt shall not be prior to the scheduled maturity date of the Debt under the Term Loan Agreement as in effect
on the date hereof, (x) the amortization payments in respect of such additional Debt shall be no more than ratable with the amortization payments under the Term Loan Agreement as in effect on the date hereof, (y) the interest rate margins
in respect of such additional Debt shall not be increased by more than 50 basis points over those in effect on the date hereof and (z) all other terms and documentation in respect of such additional Debt shall be satisfactory to Agent;
(ii) the Liens, if any, securing such refunded, renewed or extended Debt do not attach to any assets in addition to those assets, if any, securing the Debt to be refunded, renewed or extended, (iii) no Person that is not an obligor or
guarantor of such Debt as of the Closing Date shall become an obligor or guarantor thereof, and (iv) the terms of such refunding, renewal or extension are no less favorable to the Borrower, the Agent or the Lenders than the original Debt.
Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrower may incur additional unsecured Debt (excluding Guaranties) in an amount not to exceed $20,000,000 in the aggregate at any time outstanding.

 7.14    Prepayment.    Neither the Borrower nor any of its Subsidiaries
shall voluntarily prepay any Debt, except (a) the Obligations in accordance with the terms of this Agreement and (b) the Debt under the Term Loan Agreement to the extent permitted under Section 3.3(a) of this Agreement, subject
to the Intercreditor Agreement. Neither the Borrower nor any of its Subsidiaries shall prepay Debt under the Term Loan Agreement from excess cash flow unless, after giving effect to any such prepayment Borrower has Availability of at least
$20,000,000. 
 7.15    Transactions with Affiliates.    Except as set forth
below, neither the Borrower nor any of its Subsidiaries shall, sell, transfer, distribute, or pay any money or property, including, but not limited to, any fees or expenses of any nature (including, but not limited to, any fees or expenses for
management services), to any Affiliate, or lend or advance money or property to any Affiliate, or invest in (by capital contribution or otherwise) or purchase or repurchase any stock or indebtedness, or any property, of any Affiliate, or become
liable on any Guaranty of the indebtedness, dividends, or other obligations of any Affiliate. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, the Borrower and its Subsidiaries may engage in transactions
with Affiliates in the ordinary course of business consistent with past practices, in amounts and upon terms fully disclosed to 

  

 37 

 
the Agent and the Lenders, and no less favorable to the Borrower and its Subsidiaries than would be obtained in a comparable arm’s-length transaction
with a third party who is not an Affiliate. 
 7.16    Investment Banking and Finder’s
Fees.    Neither the Borrower nor any of its Subsidiaries shall pay or agree to pay, or reimburse any other party with respect to, any investment banking or similar or related fee, underwriter’s fee, finder’s fee,
or broker’s fee to any Person in connection with this Agreement. The Borrower shall defend and indemnify the Agent and the Lenders against and hold them harmless from all claims of any Person that the Borrower is obligated to pay for any such
fees, and all costs and expenses (including attorneys’ fees) incurred by the Agent and/or any Lender in connection therewith. 
 7.17    Business Conducted.    The Borrower shall not and shall not permit any of its Subsidiaries to, engage in any businesses which are not the same, similar, ancillary, complimentary,
incidental or reasonably related to, or reasonable extensions, developments or expansions of, the businesses in which the Borrower is engaged on the Closing Date. 
 7.18    Liens.    Neither the Borrower nor any of its Subsidiaries shall create, incur, assume, or permit to exist any Lien on any property now
owned or hereafter acquired by any of them, except Permitted Liens, and Liens, if any, in effect as of the Closing Date described in Schedule 6.11 securing Debt described in Schedule 6.11 and Liens securing Capital Leases and purchase
money Debt permitted in Section 7.13. 
 7.19    Sale and Leaseback
Transactions.    Neither the Borrower nor any of its Subsidiaries shall, directly or indirectly, enter into any arrangement with any Person providing for the Borrower or such Subsidiary to lease or rent property that the
Borrower or such Subsidiary has sold or will sell or otherwise transfer to such Person. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrower may enter into sale and leaseback transactions of Fixed
Assets with an aggregate value not to exceed $10,000,000 in a single transaction or series of related transactions and not to exceed $15,000,000 in the aggregate in any Fiscal Year. 
 7.20    New Subsidiaries.    The Borrower shall not, directly or indirectly, organize,
create, acquire or permit to exist any Subsidiary other than those listed on Schedule 6.5 and any Person acquired pursuant to a Permitted Acquisition. 
 7.21    Fiscal Year.    The Borrower shall not change its Fiscal Year. 
 7.22    [Intentionally Omitted]. 
 7.23    Fixed Charge Coverage Ratio.    Whenever average Availability for any Fiscal Quarter is less than $20,000,000, the Borrower shall maintain a Fixed Charge Coverage Ratio for each period
of four consecutive Fiscal Quarters tested on the last day of each Fiscal Quarter (commencing with the Fiscal Quarter in which average Availability was less than 520,000,000) of not less than 1.1 to 1.0. Such testing shall continue until average
daily Availability in any subsequent Fiscal Quarter is at least $20,000,000. 
 7.24    [Intentionally
Omitted]. 
  

 38 

 7.25    Use of Proceeds.    The Borrower
shall not, and shall not suffer or permit any Subsidiary to, use any portion of the Loan proceeds, directly or indirectly, (i) to purchase or carry Margin Stock, (ii) to repay or otherwise refinance indebtedness of the Borrower or others
incurred to purchase or carry Margin Stock, (iii) to extend credit for the purpose of purchasing or carrying any Margin Stock, or (iv) to acquire any security in any transaction that is subject to Section 13 or 14 of the Exchange Act.

 7.26    Amendments to Agreements.    Borrower shall not, nor shall permit
its Subsidiaries to, amend or otherwise modify the Term Loan Documents, if such amendment or modification would be adverse to the interests of Agent and Lenders under the Loan Documents. 
 7.27    Inactive Subsidiaries.    Except as disclosed on Schedule 6.30, Borrower
shall not cause or permit any Inactive Subsidiary to (i) incur Debt, (ii) incur liabilities other than normal and customary liabilities arising by law and the costs of maintaining its corporate existence, (iii) own any assets (other
than the stock of foreign Subsidiaries), or (iv) engage in any trade or business other than holding the stock of foreign Subsidiaries. 
 7.28    Bank Accounts.    The Borrower shall not maintain any bank accounts except as set forth on Schedule 6.27 unless Borrower first provides Agent with ten
(10) business Days prior written notice of its intent to open a new bank account and, if requested by Agent, provides Agent with a blocked account agreement, in form and substance satisfactory to Agent, duly executed by Borrower and the
financial institution where such account has been opened. 
 7.29    Post-Closing
Obligations.    No later than 30 days following the Closing Date, unless otherwise extended by the Agent in its sole discretion, the Borrower will execute and deliver: 
 (i)    fully executed and notarized counterparts of a mortgage, deed of trust or deed to secure debt,
leasehold mortgage, leasehold deed of trust, leasehold deed to secure debt or similar documents and corresponding UCC fixture filings in form and substance reasonably satisfactory to the Agent (as may be amended, modified or supplemented from time
to time in accordance with the terms hereof and thereof, each, a “Mortgage” and collectively, “Mortgages”), which Mortgages shall cover all of the Real Estate by the Company or any of its Subsidiaries which are subject to
“Mortgages” under the Term Loan Documents (each, a “Mortgaged Property” and collectively, the “Mortgaged Properties”), together with evidence that counterparts of the Mortgages and corresponding UCC fixture filings have
been delivered to a title insurance company for recording in all places to the extent necessary or, in the reasonable opinion of the Agent, desirable to effectively create a valid and enforceable second priority (subject only the first priority lien
under the Term Loan Documents) mortgage lien on each Mortgaged Property in favor of the Agent (or such other trustee as may be required or desired under local law) for the benefit of the Lenders and any providers of Hedge Agreements approved by
Agent; 
  

 39 

 (ii)    releases of all mortgages and related
instruments executed in connection with the Senior Notes that encumber the Mortgaged Properties; 
 (iii)    opinions of local counsels addressing customary matters relating to the Mortgages, in form and substance satisfactory to Agent; and 
 (iv)    with respect to each Mortgaged Property, such consents, approvals, amendments, supplements,
estoppels, tenant subordination agreements or other instruments as shall reasonably be deemed necessary by the Agent in order for the owner or holder of the fee or leasehold interest constituting such Mortgaged Property to grant the lien
contemplated by the Mortgage with respect to such Mortgaged Property. 
 (b)    (x) No later than 30
days following the Closing Date, unless otherwise extended by the Agent in its sole discretion, the Borrower will deliver to Agent (i) an executed additional insured endorsement listing Agent as additional insured with respect to
Borrower’s general liability insurance policy no. 901499903 and (ii) an executed loss payee endorsement listing Agent as lenders loss payee with respect to Borrower’s property insurance policy no. LG128, each in form and substance
satisfactory to Agent and (y) no later than 7 days following the Closing Date, unless otherwise extended by the Agent in its sole discretion, the Borrower will deliver to Agent an insurance certificate with respect to Borrower’s property
insurance policy no. LG128 in form and substance satisfactory to Agent. 
 (c)    No later than 30 days
following the Closing Date, unless otherwise extended by the Agent in its sole discretion, Borrower shall use reasonable efforts to deliver, or cause to be delivered, to the Agent’s counsel an executed landlord’s waiver with respect to
each of the new leased locations of Borrower and any leased location of Borrower with respect to which a landlord’s waiver has not been previously obtained and delivered to Agent’s counsel (in each case in form and substance satisfactory
to the Agent). 
 (d)    No later than 10 days following the Closing Date, unless otherwise extended by
the Agent in its sole discretion, Borrower will execute and deliver to Agent an amendment (in form and substance satisfactory to Agent) to that certain blocked account control agreement, dated as of May 28, 2003, between Agent and Borrower
amending the account number for the Blocked Account (as defined therein). 
  

 40 

 (e)    No later than 7 days following the Closing Date, unless
otherwise extended by the Agent in its sole discretion, the Borrower will deliver to Agent (i) completed Schedules I to each of the Patent Security Agreement, Trademark Security Agreement and Copyright Security Agreement, each by Borrower in
favor of Agent dated as of the Closing Date, each in form and substance satisfactory to Agent, (ii) an original copy of each of the promissory notes listed on Schedule I to the Pledged Agreement each endorsed to Agent in form and substance
satisfactory to Agent and (iii) an executed secretary certificate of Borrower certifying and attaching correct, true and complete copies of the Term Loan Documents. 
 7.30    Further Assurances.    The Borrower shall execute and deliver, or cause to be executed and delivered, to the Agent and/or the Lenders such
documents and agreements, and shall take or cause to be taken such actions, as the Agent or any Lender may, from time to time, request to carry out the terms and conditions of this Agreement and the other Loan Documents. 
 ARTICLE 8 
 CONDITIONS OF LENDING

 8.1    Conditions Precedent to Making of Loans on the Closing
Date.    The obligation of the Lenders to make the initial Revolving Loans on the Closing Date, and the obligation of the Agent to cause the Letter of Credit Issuer to issue any Letter of Credit on the Closing Date, are
subject to the following conditions precedent having been satisfied prior to or concurrently with the making of such Loans in a manner satisfactory to the Agent and each Lender: 
 (a)    This Agreement and the other Loan Documents shall have been executed and delivered by each party thereto and
the Borrower shall have performed and complied with all covenants, agreements and conditions contained herein and the other Loan Documents which are required to be performed or complied with by the Borrower before or on such Closing Date.

 (b)    All representations and warranties made hereunder and in the other Loan Documents shall be
true and correct as if made on such date. 
 (c)    No Default or Event of Default shall have occurred
and be continuing after giving effect to the Loans to be made and the Letters of Credit to be issued on the Closing Date. 
 (d)    The Agent and the Lenders shall have received such opinions of counsel for the Borrower and its Subsidiaries as the Agent or any Lender shall request, each such opinion to be in a form, scope, and substance
satisfactory to the Agent, the Lenders, and their respective counsel. 
 (e)    The Agent shall have
received 
 (i)    acknowledgment copies of proper financing statements, duly filed on or
before the Closing Date under the UCC of all jurisdictions 

  

 41 

 
that the Agent may deem necessary or desirable in order to perfect the Agent’s Liens; and 
 (ii)    duly executed UCC-3 Termination Statements and such other instruments, in form and substance
satisfactory to the Agent, as shall be necessary to terminate and satisfy all Liens on the assets of the Borrower and its Subsidiaries except Permitted Liens. 
  

 42 

 (f)    The Borrower shall have paid all fees and expenses of the
Agent and the Attorney Costs incurred in connection with any of the Loan Documents and the transactions contemplated thereby to the extent invoiced. 
 (g)    The Agent shall have received evidence, in form, scope, and substance, reasonably satisfactory to the Agent, of all insurance coverage as required by this Agreement. 
 (h)    The Agent and the Lenders shall have had an opportunity, if they so choose, to examine the books of account
and other records and files of the Borrower and to make copies thereof, and to conduct a pre-closing audit which shall include, without limitation, verification of Inventory, Accounts, and the Borrowing Base, and the results of such examination and
audit shall have been satisfactory to the Agent and the Lenders in all respects. 
 (i)    All
proceedings taken in connection with the execution of this Agreement, the Term Loan Documents, all other Loan Documents and all documents and papers relating thereto shall be satisfactory in form, scope, and substance to the Agent and the Lenders.

 (j)    The Agent shall have received evidence satisfactory to it that the Borrower received at least
$150,000,000 in loan proceeds from the Term Loan Agreement (less fees, costs and expenses associated with the Term Loan Agreement) pursuant to the Term Loan Documents which shall be in form and substance satisfactory to Agent. 
 (k)    On or prior to the Closing Date, the Borrower shall have consummated the Senior Notes tender offer and
consent solicitation and, on the Closing Date all obligations of the Borrower and its Subsidiaries with respect to the Senior Notes shall have been paid in full or to the extent not tendered, irrevocably called for redemption (the
“Refinancing”), and, except as set forth in Section 7.29, all commitments, security interests and guarantees in connection therewith shall have been terminated and released, all to the reasonable satisfaction of the Agent. Except as
set forth in Section 7.29, the Agent shall have received satisfactory evidence (including satisfactory pay-off letters, mortgage releases, intellectual property releases and UCC-3 termination statements) that the matters set forth in the
immediately preceding sentence have been satisfied as of the Closing Date. 
 (l)    Without limiting
the generality of the items described above, the Agent shall have received (in form and substance reasonably satisfactory to the Agent) the financial statements, instruments, resolutions, documents, agreements, certificates, opinions and other items
set forth on the “Closing Checklist” delivered by the Agent to the Borrower prior to the Closing Date. 
 The
acceptance by the Borrower of any Loans made or Letters of Credit issued on the Closing Date shall be deemed to be a representation and warranty made by the Borrower to the effect that all of the conditions precedent to the making of such Loans or
the issuance of such Letters of Credit have been satisfied, with the same effect as delivery to the Agent and the Lenders of a certificate signed by a Responsible Officer of the Borrower, dated the Closing Date, to such effect. 
  

 43 

 Execution and delivery to the Agent by a Lender of a counterpart of this Agreement shall
be deemed confirmation by such Lender that (i) all conditions precedent in this Section 8.1 have been fulfilled to the satisfaction of such Lender, (ii) the decision of such Lender to execute and deliver to the Agent an
executed counterpart of this Agreement was made by such Lender independently and without reliance on the Agent or any other Lender as to the satisfaction of any condition precedent set forth in this Section 8.1, and (iii) all
documents sent to such Lender for approval consent, or satisfaction were acceptable to such Lender. 
 8.2    Conditions Precedent to Each Loan. The obligation of the Lenders to make each Loan, including the initial Revolving Loans on the Closing Date, and the obligation of the Agent to cause the Letter of Credit
Issuer to issue any Letter of Credit shall be subject to the further conditions precedent that on and as of the date of any such extension of credit: 
 (a)    The following statements shall be true, and the acceptance by the Borrower of any extension of credit shall be deemed to be a statement to the effect set forth in clauses (i),
(ii) and (iii) with the same effect as the delivery to the Agent and the Lenders of a certificate signed by a Responsible Officer, dated the date of such extension of credit, stating that: 
 (i)    The representations and warranties contained in this Agreement and the other Loan Documents
are correct in all material respects on and as of the date of such extension of credit as though made on and as of such date, other than any such representation or warranty which relates to a specified prior date and except to the extent the Agent
and the Lenders have been notified in writing by the Borrower that any representation or warranty is not correct and the Required Lenders have explicitly waived in writing compliance with such representation or warranty; and 
 (ii)    No event has occurred and is continuing, or would result from such extension of credit, which
constitutes a Default or an Event of Default; and 
 (iii)    No event has occurred and
is continuing, or would result from such extension of credit, which has had or would have a Material Adverse Effect. 
 (b)    No such Borrowing shall exceed Availability, provided, however, that the foregoing conditions precedent are not conditions to each Lender participating in or reimbursing the Bank or the Agent for
such Lenders’ Pro Rata Share of any Swing Line Loan or Agent Advance made in accordance with the provisions of Sections 1.3 and 1.2(i). 
 ARTICLE 9  
 DEFAULT; REMEDIES 
 9.1    Events of Default. It shall constitute an event of default (“Event of Default”) if any one or
more of the following shall occur for any reason: 
  

 44 

 (a)    any failure by the Borrower to pay the principal of or
interest or premium on any of the Obligations or any fee or other amount owing hereunder when due, whether upon demand or otherwise; 
 (b)    any representation or warranty made or deemed made by the Borrower in this Agreement or by the Borrower or any of its Subsidiaries in any of the other Loan Documents, any Financial
Statement, or any certificate furnished by the Borrower or any of its Subsidiaries at any time to the Agent or any Lender shall prove to be untrue in any material respect as of the date on which made, deemed made, or furnished; 
 (c)    (i) any default shall occur in the observance or performance of any of the covenants and agreements
contained in Sections 5.2(k), 7.2, 7.5, 7.9-7.28 of this Agreement, or Section 11 of the Security Agreement, (ii) any default shall occur in the observance or performance of any of the covenants and agreements
contained in Sections 5.2 (other than 5.2(k)) or 5.3 and such default shall continue for five (5) days or more; or (iii) any default shall occur in the observance or performance of any of the other covenants or agreements contained
in any other Section of this Agreement or any other Loan Document, or any other agreement entered into at any time to which the Borrower or any Subsidiary and the Agent or any Lender are party (including in respect of any Bank Products) and such
default shall continue for fifteen (15) days or more; 
 (d)    any default shall occur with
respect to any Debt (other than the Obligations) of the Borrower or any of its Subsidiaries in an outstanding principal amount which exceeds $5,000,000, or under any agreement or instrument under or pursuant to which any such Debt may have been
issued, created, assumed, or guaranteed by the Borrower or any of its Subsidiaries, and such default shall continue for more than the period of grace, if any, therein specified, if the effect thereof (with or without the giving of notice or further
lapse of time or both) is to accelerate, or to permit the holders of any such Debt to accelerate, the maturity of any such Debt; or any such Debt shall be declared due and payable or be required to be prepaid (other than by a regularly scheduled
required prepayment) prior to the stated maturity thereof; 
 (e)    the Borrower or any of its
Subsidiaries shall (i) file a voluntary petition in bankruptcy or file a voluntary petition or an answer or otherwise commence any action or proceeding seeking reorganization, arrangement or readjustment of its debts or for any other relief
under the federal Bankruptcy Code, as amended, or under any other bankruptcy or insolvency act or law, state or federal, now or hereafter existing, or consent to, approve of, or acquiesce in, any such petition, action or proceeding; (ii) apply
for or acquiesce in the appointment of a receiver, assignee, liquidator, sequestrator, custodian, monitor, trustee or similar officer for it or for all or any part of its property; (iii) make an assignment for the benefit of creditors; or
(iv) be unable generally to pay its debts as they become due; 
 (f)    an involuntary petition
shall be filed or an action or proceeding otherwise commenced seeking reorganization, arrangement, consolidation or readjustment of the debts of the Borrower or any of its Subsidiaries or for any other relief under the federal Bankruptcy Code, as
amended, or under any other bankruptcy or insolvency act or law, state or federal, now or hereafter existing and such petition or proceeding shall not be dismissed within 

  

 45 

 
thirty (30) days after the filing or commencement thereof or an order of relief shall be entered with respect thereto; 
 (g)    a receiver, assignee, liquidator, sequestrator, custodian, monitor, trustee or similar officer for the
Borrower or any of its Subsidiaries or for all or any part of its property with a book value in excess of $500,000 shall be appointed or a warrant of attachment, execution or similar process shall be issued against any part of the property with a
book value in excess of $500,000 of the Borrower or any of its Subsidiaries; 
 (h)    the Borrower or
any of its Subsidiaries shall file a certificate of dissolution under applicable state law or shall be liquidated, dissolved or wound-up or shall commence or have commenced against it any action or proceeding for dissolution, winding-up or
liquidation, or shall take any corporate action in furtherance thereof; 
 (i)    all or any material
part of the property of the Borrower or any of its Subsidiaries shall be nationalized, expropriated or condemned, seized or otherwise appropriated, or custody or control of such property or of the Borrower or such Subsidiary shall be assumed by any
Governmental Authority or any court of competent jurisdiction at the instance of any Governmental Authority, except where contested in good faith by proper proceedings diligently pursued where a stay of enforcement is in effect; 
 (j)    any Loan Document shall be terminated, revoked or declared void or invalid or unenforceable or challenged by
the Borrower or any other obligor; 
 (k)    one or more judgments, orders, decrees or arbitration
awards is entered against the Borrower involving in the aggregate liability (to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage) as to any single or related or unrelated series of
transactions, incidents or conditions, of $2,000,000 or more, and the same shall remain unsatisfied, unvacated and unstayed pending appeal for a period of thirty (30) days after the entry thereof; 
 (l)    any loss, theft, damage or destruction of any item or items of Collateral or other property of the Borrower
or any Subsidiary occurs which could reasonably be expected to cause a Material Adverse Effect and is not adequately covered by insurance; 
 (m)    there is filed against the Borrower or any of its Subsidiaries any action, suit or proceeding under any federal or state racketeering statute (including the Racketeer Influenced and Corrupt
Organization Act of 1970), which action, suit or proceeding (i) is not dismissed within one hundred twenty (120) days, and (ii) could reasonably be expected to result in the confiscation or forfeiture of any material portion of the
Collateral; 
 (n)    for any reason other than the failure of the Agent to take any action available to
it to maintain perfection of the Agent’s Liens, pursuant to the Loan Documents, any Loan Document ceases to be in full force and effect or any Lien with respect to any material portion of the Collateral intended to be secured thereby ceases to
be, or is not, valid, perfected and prior to all other Liens (other than Permitted Liens) or is terminated, revoked or declared void; 
  

 46 

 (o)    (i) an ERISA Event shall occur with respect to a Pension
Plan or Multi-employer Plan which has resulted or could reasonably be expected to result in liability of the Borrower under Title IV of ERISA to the Pension Plan, Multi-employer Plan or the PBGC in an aggregate amount in excess of $1,000,000;
(ii) the aggregate amount of Unfunded Pension Liability among all Pension Plans at any time exceeds $1,000,000; or (iii) the Borrower or any ERISA Affiliate shall fail to pay when due, after the expiration of any applicable grace period,
any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multi-employer Plan in an aggregate amount in excess of $1,000,000; or 
 (p)    there occurs a Change of Control. 
 9.2    Remedies. 
 (a)    If a Default or an Event of Default exists, the Agent may, in its discretion, and shall, at the direction of the Required Lenders, do one or more of the following at any time or times and in any order, without
notice to or demand on the Borrower: (i) reduce the Maximum Revolver Amount, or the advance rates against Eligible Accounts and/or Eligible Inventory used in computing the Borrowing Base, or reduce one or more of the other elements used in
computing the Borrowing Base; (ii) restrict the amount of or refuse to make Revolving Loans; and (iii) restrict or refuse to provide Letters of Credit or Credit Support. If an Event of Default exists, the Agent may, in its discretion, and
shall, at the direction of the Required Lenders, do one or more of the following, in addition to the actions described in the preceding sentence, at any time or times and in any order, without notice to or demand on the Borrower: (A) terminate
the Commitments and this Agreement; (B) declare any or all Obligations to be immediately due and payable; provided, however, that upon the occurrence of any Event of Default described in Sections 9.1 (e), 9.1(f),
9.1(g), or 9.1(h), the Commitments shall automatically and immediately expire and all Obligations shall automatically become immediately due and payable without notice or demand of any kind; (C) require the Borrower to cash
collateralize all outstanding Letter of Credit Obligations; and (D) pursue its other rights and remedies under the Loan Documents and applicable law. 
 (b)    If an Event of Default has occurred and is continuing: (i) the Agent shall have for the benefit of the Lenders, in addition to all other rights of the Agent and
the Lenders, the rights and remedies of a secured party under the Loan Documents and the UCC; (ii) the Agent may, at any time, take possession of the Collateral and keep it on the Borrower’s premises, at no cost to the Agent or any Lender,
or remove any part of it to such other place or places as the Agent may desire, or the Borrower shall, upon the Agent’s demand, at the Borrower’s cost, assemble the Collateral and make it available to the Agent at a place reasonably
convenient to the Agent; and (iii) the Agent may sell and deliver any Collateral at public or private sales, for cash, upon credit or otherwise, at such prices and upon such terms as the Agent deems advisable, in its sole discretion, and may,
if the Agent deems it reasonable, postpone or adjourn any sale of the Collateral by an announcement at the time and place of sale or of such postponed or adjourned sale without giving a new notice of sale. Without in any way requiring notice to be
given in the following manner, the Borrower agrees that any notice by the Agent of sale, disposition or other intended action hereunder or in connection herewith, whether required by the UCC or otherwise, shall constitute reasonable notice to the
Borrower if such notice is mailed by registered or certified mail, return receipt requested, postage prepaid, or is delivered 

  

 47 

 
personally against receipt, at least ten (10) Business Days prior to such action to the Borrower’s address specified in or pursuant to
Section 13.8. If any Collateral is sold on terms other than payment in full at the time of sale, no credit shall be given against the Obligations until the Agent or the Lenders receive payment, and if the buyer defaults in payment, the
Agent may resell the Collateral without further notice to the Borrower. In the event the Agent seeks to take possession of all or any portion of the Collateral by judicial process, the Borrower irrevocably waives: (A) the posting of any bond,
surety or security with respect thereto which might otherwise be required; (B) any demand for possession prior to the commencement of any suit or action to recover the Collateral; and (C) any requirement that the Agent retain possession
and not dispose of any Collateral until after trial or final judgment. The Borrower agrees that the Agent has no obligation to preserve rights to the Collateral or marshal any Collateral for the benefit of any Person. The Agent is hereby granted a
license or other right to use, without charge, the Borrower’s labels, patents, copyrights, name, trade secrets, trade names, trademarks, and advertising matter, or any similar property, in completing production of, advertising or selling any
Collateral, and the Borrower’s rights under all licenses and all franchise agreements shall inure to the Agent’s benefit for such purpose. The proceeds of sale shall be applied first to all expenses of sale, including Attorney Costs, and
then to the Obligations. The Agent will return any excess to the Borrower and the Borrower shall remain liable for any deficiency. 
 (c)    If an Event of Default occurs, the Borrower hereby waives all rights to notice and hearing prior to the exercise by the Agent of the Agent’s rights to repossess the Collateral without judicial process or to
reply, attach or levy upon the Collateral without notice or hearing. 
 ARTICLE 10 
 TERM AND TERMINATION 
 10.1    Term and
Termination. The term of this Agreement shall end on the Stated Termination Date unless sooner terminated in accordance with the terms hereof. The Agent may, in its discretion, and shall, upon direction from the Required Lenders, terminate this
Agreement without notice upon the occurrence of an Event of Default. Upon the effective date of termination of this Agreement for any reason whatsoever, all Obligations (including all unpaid principal, accrued and unpaid interest and any early
termination or prepayment fees or penalties) shall become immediately due and payable and the Borrower shall immediately arrange for the cancellation and return of Letters of Credit then outstanding. Notwithstanding the termination of this
Agreement, until all Obligations are indefeasibly paid and performed in full in cash, the Borrower shall remain bound by the terms of this Agreement and shall not be relieved of any of its Obligations hereunder or under any other Loan Document, and
the Agent and the Lenders shall retain all their rights and remedies hereunder (including the Agent’s Liens in and all rights and remedies with respect to all then existing and after-arising Collateral). 
  

 48 

 ARTICLE 11 
 AMENDMENTS; WAIVERS; PARTICIPATIONS; ASSIGNMENTS; SUCCESSORS 
 11.1    Amendments and Waivers. 
 (a)    No amendment or waiver of
any provision of this Agreement or any other Loan Document, and no consent with respect to any departure by the Borrower therefrom, shall be effective unless the same shall be in writing and signed by the Required Lenders (or by the Agent at the
written request of the Required Lenders) and the Borrower and then any such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such waiver,
amendment, or consent shall, unless in writing and signed by all the Lenders and the Borrower and acknowledged by the Agent, do any of the following: 
 (i)    increase or extend the Commitment of any Lender; 
 (ii)    postpone or delay any date fixed by this Agreement or any other Loan Document for any payment of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or
under any other Loan Document; 
 (iii)    reduce the principal of, or the rate of
interest specified herein on any Loan, or any fees or other amounts payable hereunder or under any other Loan Document; 
 (iv)    change the percentage of the Commitments or of the aggregate unpaid principal amount of the Loans which is required for the Lenders or any of them to take any action hereunder; 

(v)    increase any of the percentages set forth in the definition of the Borrowing Base;

 (vi)    amend this Section or any provision of this Agreement providing for consent
or other action by all Lenders; 
 (vii)    release any Guaranties of the Obligations or
release Collateral other than as permitted by Section 12.11; 
 (viii)    change the definitions of “Required Lenders”; or 
 (ix)    increase the Maximum Revolver Amount, the Maximum Inventory Loan Amount, and Letter of Credit Subfacility; 
 provided, however, the Agent may, in its sole discretion and notwithstanding the limitations contained in clauses (v) and (ix) above and any other terms of this Agreement, make
Agent Advances in accordance with Section 1.2(i) and, provided further, that no amendment, waiver or consent shall, unless in writing and signed by the Agent, affect the rights or duties of the Agent under this Agreement or
any other Loan Document and provided further, that Schedule 1.2 

  

 49 

 
hereto (Commitments) may be amended from time to time by Agent alone to reflect assignments of Commitments in accordance herewith. 
 (b)    If any fees are paid to the Lenders as consideration for amendments, waivers or consents with respect to this
Agreement, at Agent’s election, such fees may be paid only to those Lenders that agree to such amendments, waivers or consents within the time specified for submission thereof. 
 (c)    If, in connection with any proposed amendment, waiver or consent (a “Proposed Change”) requiring
the consent of all Lenders, the consent of Required Lenders is obtained, but the consent of other Lenders is not obtained (any such Lender whose consent is not obtained being referred to as a “Non-Consenting Lender”), 
 then, so long as the Agent is not a Non-Consenting Lender, at the Borrower’s request, the Agent or an Eligible Assignee shall have the right (but
not the obligation) with the Agent’s approval, to purchase from the Non-Consenting Lenders, and the Non-Consenting Lenders agree that they shall sell, all the Non-Consenting Lenders’ Commitments for an amount equal to the principal
balances thereof and all accrued interest and fees with respect thereto through the date of sale pursuant to Assignment and Acceptance Agreement(s), without premium or discount. 
 11.2    Assignments; Participations. 
 (a)    Any Lender may, with the written consent of the Agent and Borrower (which consent shall not be unreasonably withheld), assign and delegate to one or more Eligible
Assignees (provided that no consent of the Agent or Borrower shall be required in connection with any assignment and delegation by a Lender to an Affiliate of such Lender or to another Lender) (each an “Assignee”) all, or any
ratable part of all, of the Loans, the Commitments and the other rights and obligations of such Lender hereunder, in a minimum amount of $5,000,000 (provided that, unless an assignor Lender has assigned and delegated all of its Loans and
Commitments, no such assignment and/or delegation shall be permitted unless, after giving effect thereto, such assignor Lender retains a Commitment in a minimum amount of $10,000,000); provided, however, that if a Default or Event of
Default has occurred and is continuing, the consent of the Borrower shall not be required; provided, further, that the Borrower and the Agent may continue to deal solely and directly with such Lender in connection with the interest so
assigned to an Assignee until (i) written notice of such assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall have been given to the Borrower and the Agent by such Lender and the
Assignee; (ii) such Lender and its Assignee shall have delivered to the Borrower and the Agent an Assignment and Acceptance in the form of Exhibit F (“Assignment and Acceptance”) together with any note or notes subject
to such assignment and (iii) the assignor Lender or Assignee has paid to the Agent a processing fee in the amount of $3,000. The Borrower agrees to promptly execute and deliver new promissory notes and replacement promissory notes as reasonably
requested by the Agent to evidence assignments of the Loans and Commitments in accordance herewith. 
 (b)    From and after the date that the Agent notifies the assignor Lender that it has received an executed Assignment and Acceptance and payment of the above- referenced processing fee, (i) the Assignee thereunder
shall be a party hereto and, to the extent 

  

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that rights and obligations, including, but not limited to, the obligation to participate in Letters of Credit and Credit Support have been assigned to it
pursuant to such Assignment and Acceptance, shall have the rights and obligations of a Lender under the Loan Documents, and (ii) the assignor Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents
have been assigned by it pursuant to such Assignment and Acceptance, relinquish its rights and be released from its obligations under this Agreement (and in the case of an Assignment and Acceptance covering all or the remaining portion of an
assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto). 
 (c)    By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the Assignee thereunder confirm to and agree with each other and the other parties hereto as follows: (i) other
than as provided in such Assignment and Acceptance, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with this Agreement or
the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any other Loan Document furnished pursuant hereto or the attachment, perfection, or priority of any Lien granted by the Borrower to the Agent
or any Lender in the Collateral; (ii) such assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower or the performance or observance by the Borrower of any of its
obligations under this Agreement or any other Loan Document furnished pursuant hereto; (iii) such Assignee confirms that it has received a copy of this Agreement, together with such other documents and information as it has deemed appropriate
to make its own credit analysis and decision to enter into such Assignment and Acceptance; (iv) such Assignee will, independently and without reliance upon the Agent, such assigning Lender 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 decisions in taking or not taking action under this Agreement; (v) such Assignee appoints and authorizes the Agent to take such action as agent on its behalf
and to exercise such powers under this Agreement as are delegated to the Agent by the terms hereof, together with such powers, including the discretionary rights and incidental power, as are reasonably incidental thereto; and (vi) such Assignee
agrees that it will perform in accordance with their terms all of the obligations which by the terms of this Agreement are required to be performed by it as a Lender. 
 (d)    Immediately upon satisfaction of the requirements of Section 11.2(a), this Agreement shall be deemed to be amended to the extent, but only to the extent,
necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Lender pro tanto. 

(e)    Any Lender may at any time sell to one or more commercial banks, financial institutions, or other Persons
not Affiliates of the Borrower (a “Participant”) participating interests in any Loans, the Commitment of that Lender and the other interests of that Lender (the “originating Lender”) hereunder and under the other Loan
Documents; provided, however, that (i) the originating Lender’s obligations under this Agreement shall remain unchanged, (ii) the originating Lender shall remain solely responsible for the performance of such
obligations, (iii) the Borrower and the Agent shall continue to deal solely and directly with the originating Lender in connection with the originating Lender’s rights and 

  

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obligations under this Agreement and the other Loan Documents, and (iv) no Lender shall transfer or grant any participating interest under which the
Participant has rights to approve any amendment to, or any consent or waiver with respect to, this Agreement or any other Loan Document except the matters set forth in Section 11.1(a) (i), (ii) and (iii), and all amounts payable by
the Borrower hereunder shall be determined as if such Lender had not sold such participation; except that, if amounts outstanding under this Agreement are due and unpaid, or shall have become due and payable upon the occurrence of an Event of
Default, each Participant shall 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 and subject to the same limitation as if the amount of its participating
interest were owing directly to it as a Lender under this Agreement. 
 (f)    Notwithstanding any other
provision in this Agreement, any Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB
or U.S. Treasury Regulation 31 CFR §203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. 
 ARTICLE 12 
 THE AGENT 
 12.1    Appointment and Authorization. Each Lender hereby designates and appoints Bank as its Agent under this Agreement and the other Loan Documents and each Lender
hereby irrevocably authorizes the Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this
Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. The Agent agrees to act as such on the express conditions contained in this Article 12. The provisions of this Article 12 are solely
for the benefit of the Agent and the Lenders and the Borrower shall have no rights as a third party beneficiary of any of the provisions contained herein. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or in any
other Loan Document, the Agent shall not have any duties or responsibilities, except those expressly set forth herein, nor shall the Agent have or be deemed to have 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 Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent”
in this Agreement with reference to the Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead, such term is used merely as a matter of market custom, and
is intended to create or reflect only an administrative relationship between independent contracting parties. Except as expressly otherwise provided in this Agreement, the Agent shall have and may use its sole discretion with respect to exercising
or refraining from exercising any discretionary rights or taking or refraining from taking any actions which the Agent is expressly entitled to take or assert under this Agreement and the other Loan Documents, including (a) the determination of
the applicability of ineligibility criteria with respect to the calculation of the Borrowing Base, (b) the making of Agent Advances pursuant to Section 1.2(i), and (c) the exercise of remedies 

  

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pursuant to Section 9.2, and any action so taken or not taken shall be deemed consented to by the Lenders. 
 12.2    Delegation of Duties. The Agent may execute any of its duties under this Agreement or any other Loan
Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Agent shall not be responsible for the negligence or misconduct of any agent or
attorney-in-fact that it selects as long as such selection was made without gross negligence or willful misconduct. 
 12.3    Liability of Agent. None of the Agent-Related Persons shall (i) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or any other Loan
Document or the transactions contemplated hereby (except for its own gross negligence or willful misconduct), or (ii) be responsible in any manner to any of the Lenders for any recital, statement, representation or warranty made by the Borrower
or any Subsidiary or Affiliate of the Borrower, or any officer thereof, contained in this Agreement or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Agent
under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for any failure of the Borrower or any other party to
any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related Person 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 of the Borrower’s Subsidiaries or Affiliates. 
 12.4    Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon
any writing, resolution, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, statement or other document or conversation reasonably 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 counsel to the Borrower), independent accountants and other experts selected by the Agent. The 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 Required Lenders as it deems appropriate and, if it so requests, 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 Agent shall in all cases be fully protected in acting, or in refraining from acting, under this
Agreement or any other Loan Document in accordance with a request or consent of the Required Lenders (or all Lenders if so required by Section 11.1) and such request and any action taken or failure to act pursuant thereto shall be
binding upon all of the Lenders. 
 12.5    Notice of Default. The Agent shall not be deemed to
have knowledge or notice of the occurrence of any Default or Event of Default, unless the Agent shall have received written 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.” The Agent will notify the Lenders of its receipt of any such notice. The Agent shall take such action with respect to such Default or Event of Default as may be requested by the Required Lenders
in 

  

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accordance with Section 9; provided, however, that unless and until the Agent has received any such request, the 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. 
 12.6    Credit Decision. Each Lender acknowledges that none of the Agent-Related Persons has made any representation or warranty to it, and that no act by the Agent
hereinafter taken, including any review of the affairs of the Borrower and its Affiliates, shall be deemed to constitute any representation or warranty by any Agent-Related Person to any Lender. Each Lender represents to the Agent that it has,
independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, prospects, operations, property, financial and
other condition and creditworthiness of the Borrower and its Affiliates, and all applicable bank regulatory laws relating to the transactions contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to the
Borrower. Each Lender also represents that it will, independently and without reliance upon any Agent-Related Person 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 investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and
other condition and creditworthiness of the Borrower. Except for notices, reports and other documents expressly herein required to be furnished to the Lenders by the Agent, the Agent shall not have any duty or responsibility to provide any Lender
with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower which may come into the possession of any of the Agent-Related Persons. 
 12.7    Indemnification. Whether or not the transactions contemplated hereby are consummated, the Lenders
shall indemnify upon demand the Agent-Related Persons (to the extent not reimbursed by or on behalf of the Borrower and without limiting the obligation of the Borrower to do so), in accordance with their Pro Rata Shares, from and against any and all
Indemnified Liabilities as such term is defined in Section 13.11; provided, however, that no Lender shall be liable for the payment to the Agent-Related Persons of any portion of such Indemnified Liabilities resulting
solely from such Person’s gross negligence or willful misconduct. Without limitation of the foregoing, each Lender shall reimburse the Agent upon demand for its Pro Rata Share of any costs or out-of-pocket expenses (including Attorney Costs)
incurred by the Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or
responsibilities under, this Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the extent that the Agent is not reimbursed for such expenses by or on behalf of the Borrower. The undertaking in this Section
shall survive the payment of all Obligations hereunder and the resignation or replacement of the Agent. 
 12.8    Agent in Individual Capacity. The Bank and its Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire equity interests in and generally engage in any kind
of banking, trust, financial advisory, underwriting or other business with the Borrower and its Subsidiaries and Affiliates as though the Bank were not the Agent 

  

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hereunder and without notice to or consent of the Lenders. The Bank or its Affiliates may receive information regarding the Borrower, its Affiliates and
Account Debtors (including information that may be subject to confidentiality obligations in favor of the Borrower or such Subsidiary) and the Lenders acknowledge that the Agent and the Bank shall be under no obligation to provide such information
to them. With respect to its Loans, the Bank shall have the same rights and powers under this Agreement as any other Lender and may exercise the same as though it were not the Agent, and the terms “Lender” and “Lenders” include
the Bank in its individual capacity. 
 12.9    Successor Agent. The Agent may resign as Agent
upon at least thirty (30) days’ prior notice to the Lenders and the Borrower, such resignation to be effective upon the acceptance of a successor agent to its appointment as Agent. In the event the Bank sells all of its Commitment and
Revolving Loans as part of a sale, transfer or other disposition by the Bank of substantially all of its loan portfolio, the Bank shall resign as Agent and such purchaser or transferee shall become the successor Agent hereunder. Subject to the
foregoing, if the Agent resigns under this Agreement, the Required Lenders shall appoint from among the Lenders a successor agent for the Lenders. If no successor agent is appointed prior to the effective date of the resignation of the Agent, the
Agent may appoint, after consulting with the Lenders and the Borrower, a successor agent from among the Lenders. Upon the acceptance of its appointment as successor agent hereunder, such successor agent shall succeed to all the rights, powers and
duties of the retiring Agent and the term “Agent” shall mean such successor agent and the retiring Agent’s appointment, powers and duties as Agent shall be terminated. After any retiring Agent’s resignation hereunder as Agent,
the provisions of this Article 12 shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement. 
 12.10    Withholding Tax. 
 (a)    If any Lender is a “foreign corporation, partnership or trust” within the meaning of the Code and such Lender claims exemption from, or a reduction of, U.S. withholding tax under Sections 1441 or 1442 of
the Code, such Lender agrees with and in favor of the Agent, to deliver to the Agent: 
 (i)    if such Lender claims an exemption from, or a reduction of, withholding tax under a United States of America tax treaty, properly completed IRS Forms W-8BEN and W-8ECI before the payment of any interest in the
first calendar year and before the payment of any interest in each third succeeding calendar year during which interest may be paid under this Agreement; 
 (ii)    if such Lender claims that interest paid under this Agreement is exempt from United States of America withholding tax because it is effectively connected with a United
States of America trade or business of such Lender, two properly completed and executed copies of IRS Form W-8ECI before the payment of any interest is due in the first taxable year of such Lender and in each succeeding taxable year of such Lender
during which interest may be paid under this Agreement, and IRS Form W-9; and 
  

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 (iii)    such other form or forms as may be required
under the Code or other laws of the United States of America as a condition to exemption from, or reduction of, United States of America withholding tax. 
 Such Lender agrees to promptly notify the Agent of any change in circumstances which would modify or render invalid any claimed exemption or reduction. 
 (b)    If any Lender claims exemption from, or reduction of, withholding tax under a United States of America tax
treaty by providing IRS Form FW-8BEN and such Lender sells, assigns, grants a participation in, or otherwise transfers all or part of the Obligations owing to such Lender, such Lender agrees to notify the Agent of the percentage amount in which it
is no longer the beneficial owner of Obligations of the Borrower to such Lender. To the extent of such percentage amount, the Agent will treat such Lender’s IRS Form W-8BEN as no longer valid. 
 (c)    If any Lender claiming exemption from United States of America withholding tax by filing IRS Form W-8ECI with
the Agent sells, assigns, grants a participation in, or otherwise transfers all or part of the Obligations owing to such Lender, such Lender agrees to undertake sole responsibility for complying with the withholding tax requirements imposed by
Sections 1441 and 1442 of the Code. 
 (d)    If any Lender is entitled to a reduction in the applicable
withholding tax, the Agent may withhold from any interest payment to such Lender an amount equivalent to the applicable withholding tax after taking into account such reduction. If the forms or other documentation required by subsection
(a) of this Section are not delivered to the Agent, then the Agent may withhold from any interest payment to such Lender not providing such forms or other documentation an amount equivalent to the applicable withholding tax. 
 (e)    If the IRS or any other Governmental Authority of the United States of America or other jurisdiction asserts
a claim that the Agent did not properly withhold tax from amounts paid to or for the account of any Lender (because the appropriate form was not delivered, was not properly executed, or because such Lender failed to notify the Agent of a change in
circumstances which rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason) such Lender shall indemnify the Agent fully for all amounts paid, directly or indirectly, by the Agent as tax or otherwise,
including penalties and interest, and including any taxes imposed by any jurisdiction on the amounts payable to the Agent under this Section, together with all costs and expenses (including Attorney Costs). The obligation of the Lenders under this
subsection shall survive the payment of all Obligations and the resignation or replacement of the Agent. 
 12.11    Collateral Matters. 
 (a)    The Lenders hereby
irrevocably authorize the Agent, at its option and in its sole discretion, to release any Agent’s Liens upon any Collateral (i) upon the termination of the Commitments and payment and satisfaction in full by Borrower of all Loans and
reimbursement obligations in respect of Letters of Credit and Credit Support, and the termination of all outstanding Letters of Credit (whether or not any of such obligations are due) 

  

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and all other Obligations; (ii) constituting property being sold or disposed of if the Borrower certifies to the Agent that the sale or disposition is
made in compliance with Section 7.9 (and the Agent may rely conclusively on any such certificate, without further inquiry); (iii) constituting property in which the Borrower owned no interest at the time the Lien was granted or at
any time thereafter; or (iv) constituting property leased to the Borrower under a lease which has expired or been terminated in a transaction permitted under this Agreement. Except as provided above, the Agent will not release any of the
Agent’s Liens without the prior written authorization of the Lenders; provided that the Agent may, in its discretion, release the Agent’s Liens on Collateral valued in the aggregate not to exceed $500,000 during each Fiscal Year
without the prior written authorization of the Lenders and the Agent may release the Agent’s Liens on Collateral valued in the aggregate not to exceed $1,000,000 during each Fiscal Year with the prior written authorization of Required Lenders.
Upon request by the Agent or the Borrower at any time, the Lenders will confirm in writing the Agent’s authority to release any Agent’s Liens upon particular types or items of Collateral pursuant to this Section 12.11.

 (b)    Upon receipt by the Agent of any authorization required pursuant to
Section 12.11(a) from the Lenders of the Agent’s authority to release Agent’s Liens upon particular types or items of Collateral, and upon at least five (5) Business Days prior written request by the Borrower, the Agent
shall (and is hereby irrevocably authorized by the Lenders to) execute such documents as may be necessary to evidence the release of the Agent’s Liens upon such Collateral; provided, however, that (i) the Agent shall not be
required to execute any such document on terms which, in the Agent’s opinion, would expose the Agent to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and
(ii) such release shall not in any manner discharge, affect or impair the Obligations or any Liens (other than those expressly being released) upon (or obligations of the Borrower in respect of) all interests retained by the Borrower, including
the proceeds of any sale, all of which shall continue to constitute part of the Collateral. 
 (c)    The Agent shall have no obligation whatsoever to any of the Lenders to assure that the Collateral exists or is owned by the Borrower or is cared for, protected or insured or has been encumbered, or that the
Agent’s Liens have been properly or sufficiently or lawfully created, perfected, protected or enforced or are entitled to any particular priority, or to exercise at all or in any particular manner or under any duty of care, disclosure or
fidelity, or to continue exercising, any of the rights, authorities and powers granted or available to the Agent pursuant to any of the Loan Documents, it being understood and agreed that in respect of the Collateral, or any act, omission or event
related thereto, the Agent may act in any manner it may deem appropriate, in its sole discretion given the Agent’s own interest in the Collateral in its capacity as one of the Lenders and that the Agent shall have no other duty or liability
whatsoever to any Lender as to any of the foregoing. 
 12.12    Restrictions on Actions by Lenders;
Sharing of Payments. 
 (a)    Each of the Lenders agrees that it shall not, without the express
consent of all Lenders, and that it shall, to the extent it is lawfully entitled to do so, upon the request of all Lenders, set off against the Obligations, any amounts owing by such Lender to the Borrower or any accounts of the Borrower now or
hereafter maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so by the Agent, 

  

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take or cause to be taken any action to enforce its rights under this Agreement or against the Borrower, including the commencement of any legal or equitable
proceedings, to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral. 
 (b)    If at any time or times any Lender shall receive (i) by payment, foreclosure, setoff or otherwise, any proceeds of Collateral or any payments with respect to the Obligations of the Borrower to such Lender
arising under, or relating to, this Agreement or the other Loan Documents, except for any such proceeds or payments received by such Lender from the Agent pursuant to the terms of this Agreement, or (ii) payments from the Agent in excess of
such Lender’s ratable portion of all such distributions by the Agent, such Lender shall promptly (1) turn the same over to the Agent, in kind, and with such endorsements as may be required to negotiate the same to the Agent, or in same day
funds, as applicable, for the account of all of the Lenders and for application to the Obligations in accordance with the applicable provisions of this Agreement, or (2) purchase, without recourse or warranty, an undivided interest and
participation in the Obligations owed to the other Lenders so that such excess payment received shall be applied ratably as among the Lenders in accordance with their Pro Rata Shares; provided, however, that if all or part of such
excess payment received by the purchasing party is thereafter recovered from it, those purchases of participations shall be rescinded in whole or in part, as applicable, and the applicable portion of the purchase price paid therefor shall be
returned to such purchasing party, but without interest except to the extent that such purchasing party is required to pay interest in connection with the recovery of the excess payment, 
 12.13    Agency for Perfection. Each Lender hereby appoints each other Lender as agent for the purpose of
perfecting the Lenders’ security interest in assets which, in accordance with Article 9 of the UCC can be perfected only by possession. Should any Lender (other than the Agent) obtain possession of any such Collateral, such Lender shall notify
the Agent thereof, and, promptly upon the Agent’s request therefor shall deliver such Collateral to the Agent or in accordance with the Agent’s instructions. 
 12.14    Payments by Agent to Lenders. All payments to be made by the Agent to the Lenders shall be made by bank wire transfer or internal transfer of immediately
available funds to each Lender pursuant to wire transfer instructions delivered in writing to the Agent on or prior to the Closing Date (or if such Lender is an Assignee, on the applicable Assignment and Acceptance), or pursuant to such other wire
transfer instructions as each party may designate for itself by written notice to the Agent. Concurrently with each such payment, the Agent shall identify whether such payment (or any portion thereof) represents principal, premium or interest on the
Revolving Loans or otherwise. Unless the Agent receives notice from the Borrower prior to the date on which any payment is due to the Lenders that the Borrower will not make such payment in full as and when required, the Agent may assume that the
Borrower has made such payment in full to the Agent on such date in immediately available funds and the Agent may (but shall not be so required), in reliance upon such assumption, distribute to each Lender on such due date an amount equal to the
amount then due such Lender. If and to the extent the Borrower has not made such payment in full to the Agent, each Lender shall repay to the Agent on demand such amount distributed to such Lender, together with interest thereon at the Federal Funds
Effective Rate for each day from the date such amount is distributed to such Lender until the date repaid. 
  

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 12.15    Settlement. 
 (a)    (i)     Each Lender’s funded portion of the Revolving Loans is intended by the
Lenders to be equal at all times to such Lender’s Pro Rata Share of the outstanding Revolving Loans. Notwithstanding such agreement, the Agent, the Bank, and the other Lenders agree (which agreement shall not be for the benefit of or
enforceable by the Borrower) that in order to facilitate the administration of this Agreement and the other Loan Documents, settlement among them as to the Revolving Loans, the Swing Line Loans and the Agent Advances shall take place on a periodic
basis in accordance with the following provisions: 
 (ii)    The Agent shall request settlement
(“Settlement”) with the Lenders on at least a weekly basis, or on a more frequent basis at Agent’s election, (A) on behalf of the Bank, with respect to each outstanding Swing Line Loan, (B) for itself, with respect to each
Agent Advance, and (C) with respect to collections received, in each case, by notifying the Lenders of such requested Settlement by telecopy, telephone or other similar form of transmission, of such requested Settlement, no later than 12:00
noon (Chicago time) on the date of such requested Settlement (the “Settlement Date”). Each Lender (other than the Bank, in the case of Swing Line Loans and the Agent in the case of Agent Advances) shall transfer the amount of such
Lender’s Pro Rata Share of the outstanding principal amount of the Swing Line Loans and Agent Advances with respect to each Settlement to the Agent, to Agent’s account, not later than 2:00 p.m. (Chicago time), on the Settlement Date
applicable thereto. Settlements may occur during the continuation of a Default or an Event of Default and whether or not the applicable conditions precedent set forth in Article 8 have then been satisfied. Such amounts made available to the
Agent shall be applied against the amounts of the applicable Swing Line Loan or Agent Advance and, together with the portion of such Swing Line Loan or Agent Advance representing the Bank’s Pro Rata Share thereof, shall constitute Revolving
Loans of such Lenders. If any such amount is not transferred to the Agent by any Lender on the Settlement Date applicable thereto, the Agent shall be entitled to recover such amount on demand from such Lender together with interest thereon at the
Federal Funds Effective Rate for the first two (2) days from and after the Settlement Date and thereafter at the Interest Rate then applicable to the Revolving Loans (A) on behalf of the Bank, with respect to each outstanding Swing Line
Loan, and (B) for itself, with respect to each Agent Advance. 
 (iii)    Notwithstanding the
foregoing, not more than one (1) Business Day after demand is made by the Agent (whether before or after the occurrence of a Default or an Event of Default and regardless of whether the Agent has requested a Settlement with respect to a Swing
Line Loan or Agent Advance), each other Lender (A) shall irrevocably and unconditionally purchase and receive from the Bank or the Agent, as applicable, without recourse or warranty, an undivided interest and participation in such Swing Line
Loan or Agent Advance equal to such Lender’s Pro Rata Share of such Swing Line Loan or Agent Advance and (B) if Settlement has not previously occurred with respect to such Swing Line Loans or Agent Advances, upon demand by Bank or Agent,
as applicable, shall pay to Bank or Agent, as applicable, as the purchase price of such participation an amount equal to one-hundred percent (100%) of such Lender’s Pro Rata Share of such Swing Line Loans or Agent Advances. If such amount
is not in fact made available to the Agent by any Lender, the Agent shall be entitled to recover such amount on demand from such Lender together with interest thereon at the Federal Funds Effective Rate for the first two (2) days from and after
such demand and thereafter at the 

  

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Interest Rate then applicable to Alternate Base Rate Revolving Loans (A) on behalf of the Bank, with respect to each outstanding Swing Line Loan, and
(B) for itself, with respect to each Agent Advance. 
 (iv)    From and after the date, if any, on
which any Lender purchases an undivided interest and participation in any Swing Line Loan or Agent Advance pursuant to clause (iii) above, the Agent shall promptly distribute to such Lender, such Lender’s Pro Rata Share of all
payments of principal and interest and all proceeds of Collateral received by the Agent in respect of such Swing Line Loan or Agent Advance. 
 (v)    Between Settlement Dates, the Agent, to the extent no Agent Advances are outstanding, may pay over to the Bank any payments received by the Agent, which in accordance with the terms of this
Agreement would be applied to the reduction of the Revolving Loans, for application to the Bank’s Revolving Loans including Swing Line Loans. If, as of any Settlement Date, collections received since the then immediately preceding Settlement
Date have been applied to the Bank’s Revolving Loans (other than to Swing Line Loans or Agent Advances in which such Lender has not yet funded its purchase of a participation pursuant to clause (iii) above), as provided for in the previous
sentence, the Bank shall pay to the Agent for the accounts of the Lenders, to be applied to the outstanding Revolving Loans of such Lenders, an amount such that each Lender shall, upon receipt of such amount, have, as of such Settlement Date, its
Pro Rata Share of the Revolving Loans. During the period between Settlement Dates, the Bank with respect to Swing Line Loans, the Agent with respect to Agent Advances, and each Lender with respect to the Revolving Loans other than Swing Line Loans
and Agent Advances, shall be entitled to interest at the applicable rate or rates payable under this Agreement on the actual average daily amount of funds employed by the Bank, the Agent and the other Lenders. 
 (vi)    Unless the Agent has received written notice from a Lender to the contrary, the Agent may assume that the
applicable conditions precedent set forth in Article 8 have been satisfied and the requested Borrowing will not exceed Availability on any Funding Date for a Revolving Loan or Swing Line Loan. 
 (vii)    Each Lender’s obligation to make a Revolving Loan in accordance with this Section 12.15
and to purchase participation interests in accordance with this Section 12.15 shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other
right that such Lender may have against the Agent or Bank, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower to satisfy the
conditions precedent to borrowing set forth in this Agreement at any time or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. 
 (b)    Lenders’ Failure to Perform. All Revolving Loans (other than Swing Line Loans and Agent Advances)
shall be made by the Lenders simultaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loans
hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any 

  

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failure by any other Lender to perform its obligation to make any Revolving Loans hereunder, (ii) no failure by any Lender to perform its obligation to
make any Revolving Loans hereunder shall excuse any other Lender from its obligation to make any Revolving Loans hereunder, and (iii) the obligations of each Lender hereunder shall be several, not joint and several. 
 (c)    Defaulting Lenders. Unless the Agent receives notice from a Lender on or prior to the Closing Date or,
with respect to any Borrowing after the Closing Date, at least one Business Day prior to the date of such Borrowing, that such Lender will not make available as and when required hereunder to the Agent that Lender’s Pro Rata Share of a
Borrowing, the Agent may assume that each Lender has made such amount available to the Agent in immediately available funds on the Funding Date. Furthermore, the Agent may, in reliance upon such assumption, make available to the Borrower on such
date a corresponding amount. If any Lender has not transferred its full Pro Rata Share to the Agent in immediately available funds and the Agent has transferred corresponding amount to the Borrower on the Business Day following such Funding Date
that Lender shall make such amount available to the Agent, together with interest at the Federal Funds Effective Rate for that day. A notice by the Agent submitted to any Lender with respect to amounts owing shall be conclusive, absent manifest
error. If each Lender’s full Pro Rata Share is transferred to the Agent as required, the amount transferred to the Agent shall constitute that Lender’s Revolving Loan for all purposes of this Agreement. If that amount is not transferred to
the Agent on the Business Day following the Funding Date, the Agent will notify the Borrower of such failure to fund and, upon demand by the Agent, the Borrower shall pay such amount to the Agent for the Agent’s account, together with interest
thereon for each day elapsed since the date of such Borrowing, at a rate per annum equal to the Interest Rate applicable at the time to the Revolving Loans comprising that particular Borrowing. The failure of any Lender to make any Revolving Loan on
any Funding Date (any such Lender, prior to the cure of such failure, being hereinafter referred to as a “Defaulting Lender”) shall not relieve any other Lender of its obligation hereunder to make a Revolving Loan on that Funding Date. No
Lender shall be responsible for any other Lender’s failure to advance such other Lenders’ Pro Rata Share of any Borrowing. 
 (d)    Retention of Defaulting Lender’s Payments. The Agent shall not be obligated to transfer to a Defaulting Lender any payments made by Borrower to the Agent for the Defaulting
Lender’s benefit; nor shall a Defaulting Lender be entitled to the sharing of any payments hereunder. Amounts payable to a Defaulting Lender shall instead be paid to or retained by the Agent. In its discretion, the Agent may loan Borrower the
amount of all such payments received or retained by it for the account of such Defaulting Lender. Any amounts so loaned to the Borrower shall bear interest at the rate applicable to Alternate Base Rate Revolving Loans and for all other purposes of
this Agreement shall be treated as if they were Revolving Loans, provided, however, that for purposes of voting or consenting to matters with respect to the Loan Documents and determining Pro Rata Shares, such Defaulting Lender shall be deemed not
to be a “Lender”. Until a Defaulting Lender cures its failure to fund its Pro Rata Share of any Borrowing (A) such Defaulting Lender shall not be entitled to any portion of the Unused Line Fee and (B) the Unused Line Fee shall
accrue in favor of the Lenders which have funded their respective Pro Rata Shares of such requested Borrowing and shall be allocated among such performing Lenders ratably based upon their relative Commitments. This Section shall remain effective
with respect to such Lender until such time as the Defaulting Lender shall no longer be in default of any of its obligations under this Agreement. The terms of this Section shall not be 

  

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construed to increase or otherwise affect the Commitment of any Lender, or relieve or excuse the performance by the Borrower of its duties and obligations
hereunder. 
 (e)    Removal of Defaulting Lender. At the Borrower’s request, the Agent or
an Eligible Assignee reasonably acceptable to the Agent and the Borrower shall have the right (but not the obligation) to purchase from any Defaulting Lender, and each Defaulting Lender shall, upon such request, sell and assign to the Agent or such
Eligible Assignee, all of the Defaulting Lender’s outstanding Commitments hereunder. Such sale shall be consummated promptly after Agent has arranged for a purchase by Agent or an Eligible Assignee pursuant to an Assignment and Acceptance, and
at a price equal to the outstanding principal balance of the Defaulting Lender’s Loans, plus accrued interest and fees, without premium or discount. 
 12.16    Letters of Credit; Intra-Lender Issues. 
 (a)    Notice of Letter of Credit Balance. On each Settlement Date the Agent shall notify each Lender of the issuance of all Letters of Credit since the prior Settlement Date. 
 (b)    Participations in Letters of Credit. 
 (i)    Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with
Section 1.3(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation equal to such Lender’s Pro Rata Share of the face
amount of such Letter of Credit or the Credit Support provided through the Agent to the Letter of Credit Issuer, if not the Bank, in connection with the issuance of such Letter of Credit (including all obligations of the Borrower with respect
thereto, and any security therefor or guaranty pertaining thereto). 
 (ii)    Sharing of
Reimbursement Obligation Payments. Whenever the Agent receives a payment from the Borrower on account of reimbursement obligations in respect of a Letter of Credit or Credit Support as to which the Agent has previously received for the account
of the Letter of Credit Issuer thereof payment from a Lender, the Agent shall promptly pay to such Lender such Lender’s Pro Rata Share of such payment from the Borrower. Each such payment shall be made by the Agent on the next Settlement Date.

 (iii)    Documentation. Upon the request of any Lender, the Agent shall furnish to such Lender
copies of any Letter of Credit, Credit Support for any Letter of Credit, reimbursement agreements executed in connection therewith, applications for any Letter of Credit, and such other documentation as may reasonably be requested by such Lender.

 (iv)    Obligations Irrevocable. The obligations of each Lender to make payments to the Agent
with respect to any Letter of Credit or with respect to their participation therein or with respect to any Credit Support for any Letter of Credit or with respect to the Revolving Loans made as a result of a drawing under a Letter of Credit and the
obligations of the Borrower for whose account the Letter of Credit or Credit Support was issued to make payments to the Agent, for the account of the Lenders, shall be irrevocable and shall not be 

  

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subject to any qualification or exception whatsoever, including any of the following circumstances: 
 (1)    any lack of validity or enforceability of this Agreement or any of the other Loan Documents; 
 (2)    the existence of any claim, setoff, defense or other right which the Borrower may have at any time against a
beneficiary named in a Letter of Credit or any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), any Lender, the Agent, the issuer of such Letter of Credit, or any other Person, whether in connection with
this Agreement, any Letter of Credit, the transactions contemplated herein or any unrelated transactions (including any underlying transactions between the Borrower or any other Person and the beneficiary named in any Letter of Credit); 

(3)    any draft, certificate or any other document presented under the Letter of Credit proving to be forged,
fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; 
 (4)    the surrender or impairment of any security for the performance or observance of any of the terms of any of the Loan Documents; 
 (5)    the occurrence of any Default or Event of Default; or 
 (6)    the failure of the Borrower to satisfy the applicable conditions precedent set forth in Article 8. 
 (c)    Recovery or Avoidance of Payments; Refund of Payments In Error. In the event any payment by or on behalf of the Borrower received by the Agent with respect to
any Letter of Credit or Credit Support provided for any Letter of Credit and distributed by the Agent to the Lenders on account of their respective participations therein is thereafter set aside, avoided or recovered from the Agent in connection
with any receivership, liquidation or bankruptcy proceeding, the Lenders shall, upon demand by the Agent, pay to the Agent their respective Pro Rata Shares of such amount set aside, avoided or recovered, together with interest at the rate required
to be paid by the Agent upon the amount required to be repaid by it. Unless the Agent receives notice from the Borrower prior to the date on which any payment is due to the Lenders that the Borrower will not make such payment in full as and when
required, the Agent may assume that the Borrower has made such payment in full to the Agent on such date in immediately available funds and the Agent may (but shall not be so required), in reliance upon such assumption, distribute to each Lender on
such due date an amount equal to the amount then due such Lender. If and to the extent the Borrower has not made such payment in full to the Agent, each Lender shall repay to the Agent on demand such amount distributed to such Lender, together with
interest thereon at the Federal Funds Effective Rate for each day from the date such amount is distributed to such Lender until the date repaid. 
 (d)    Indemnification by Lenders. To the extent not reimbursed by the Borrower and without limiting the obligations of the Borrower hereunder, the Lenders agree to indemnify the Letter of
Credit Issuer ratably in accordance with their respective Pro Rata Shares, for any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, 

  

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expenses (including attorneys’ fees) or disbursements of any kind and nature whatsoever that may be imposed on, incurred by or asserted against the
Letter of Credit Issuer in any way relating to or arising out of any Letter of Credit or the transactions contemplated thereby or any action taken or omitted by the Letter of Credit Issuer under any Letter of Credit or any Loan Document in
connection therewith; provided that no Lender shall be liable for any of the foregoing to the extent it arises from the gross negligence or willful misconduct of the Person to be indemnified. Without limitation of the foregoing, each Lender
agrees to reimburse the Letter of Credit Issuer promptly upon demand for its Pro Rata Share of any costs or expenses payable by the Borrower to the Letter of Credit Issuer, to the extent that the Letter of Credit Issuer is not promptly reimbursed
for such costs and expenses by the Borrower. The agreement contained in this Section shall survive payment in full of all other Obligations. 
 12.17    Concerning the Collateral and the Related Loan Documents. Each Lender authorizes and directs the Agent to enter into the other Loan Documents, for the ratable benefit and obligation
of the Agent and the Lenders. Each Lender agrees that any action taken by the Agent or Required Lenders, as applicable, in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Agent or the Required
Lenders, as applicable, of their respective powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Lenders. The Lenders acknowledge that the Revolving Loans, Agent
Advances, Swing Line Loans, Hedge Agreements, Bank Products and all interest, fees and expenses hereunder constitute one Debt, secured pari passu by all of the Collateral. 
 12.18    Field Audit and Examination Reports; Disclaimer by Lenders. By signing this Agreement, each Lender:

 (a)    is deemed to have requested that the Agent furnish such Lender, promptly after it becomes
available, a copy of each field audit or examination report (each a “Report” and collectively, “Reports”) prepared by or on behalf of the Agent; 
 (b)    expressly agrees and acknowledges that neither the Bank nor the Agent (i) makes any representation or warranty as to the accuracy of any Report, or (ii) shall
be liable for any information contained in any Report; 
 (c)    expressly agrees and acknowledges that
the Reports are not comprehensive audits or examinations, that the Agent or the Bank or other party performing any audit or examination will inspect only specific information regarding the Borrower and will rely significantly upon the
Borrower’s books and records, as well as on representations of the Borrower’s personnel; 
 (d)    agrees to keep all Reports confidential and strictly for its internal use, and not to distribute except to its participants, or use any Report in any other manner; and 
 (e)    without limiting the generality of any other indemnification provision contained in this Agreement, agrees:
(i) to hold the Agent and any such other Lender preparing a Report harmless from any action the indemnifying Lender may take or conclusion the indemnifying Lender may reach or draw from any Report in connection with any loans or 

  

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other credit accommodations that the indemnifying Lender has made or may make to the Borrower, or the indemnifying Lender’s participation in, or the
indemnifying Lender’s purchase of, a loan or loans of the Borrower; and (ii) to pay and protect, and indemnify, defend and hold the Agent and any such other Lender preparing a Report harmless from and against, the claims, actions,
proceedings, damages, costs, expenses and other amounts (including Attorney Costs) incurred by the Agent and any such other Lender preparing a Report as the direct or indirect result of any third parties who might obtain all or part of any Report
through the indemnifying Lender. 
 12.19    Relation Among Lenders. The Lenders are not partners
or co-venturers, and no Lender shall be liable for the acts or omissions of, or (except as otherwise set forth herein in case of the Agent) authorized to act for, any other Lender. 
 ARTICLE 13 
 MISCELLANEOUS 
 13.1    No Waivers; Cumulative Remedies. No failure by the Agent or any Lender to exercise any right, remedy,
or option under this Agreement or any present or future supplement thereto, or in any other agreement between or among the Borrower and the Agent and/or any Lender, or delay by the Agent or any Lender in exercising the same, will operate as a waiver
thereof. No waiver by the Agent or any Lender will be effective unless it is in writing, and then only to the extent specifically stated. No waiver by the Agent or the Lenders on any occasion shall affect or diminish the Agent’s and each
Lender’s rights thereafter to require strict performance by the Borrower of any provision of this Agreement. The Agent and the Lenders may proceed directly to collect the Obligations without any prior recourse to the Collateral. The
Agent’s and each Lender’s rights under this Agreement will be cumulative and not exclusive of any other right or remedy which the Agent or any Lender may have. 
 13.2    Severability. The illegality or unenforceability of any provision of this Agreement or any Loan Document or any instrument or agreement required hereunder shall
not in any way affect or impair the legality or enforceability of the remaining provisions of this Agreement or any instrument or agreement required hereunder. 
 13.3    Governing Law; Choice of Forum; Service of Process. 
 (a)    THIS AGREEMENT SHALL BE INTERPRETED AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO DETERMINED IN ACCORDANCE WITH THE INTERNAL LAWS (AS OPPOSED TO THE CONFLICT OF LAWS PROVISIONS
PROVIDED THAT PERFECTION ISSUES WITH RESPECT TO ARTICLE 9 OF THE UCC MAY GIVE EFFECT TO APPLICABLE CHOICE OR CONFLICT OF LAW RULES SET FORTH IN ARTICLE 9 OF THE UCC) OF THE STATE OF ILLINOIS; PROVIDED THAT THE AGENT AND THE LENDERS SHALL RETAIN ALL
RIGHTS ARISING UNDER FEDERAL LAW. 
 (b)    ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF ILLINOIS OR OF THE UNITED STATES OF AMERICA 

  

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LOCATED IN COOK COUNTY, ILLINOIS, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE BORROWER, THE AGENT AND THE LENDERS CONSENTS, FOR ITSELF AND
IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH OF THE BORROWER, THE AGENT AND THE LENDERS IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON
CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR ANY DOCUMENT RELATED HERETO. NOTWITHSTANDING THE FOREGOING: (1) THE AGENT AND THE LENDERS SHALL
HAVE THE RIGHT TO BRING ANY ACTION OR PROCEEDING AGAINST THE BORROWER OR ITS PROPERTY IN THE COURTS OF ANY OTHER JURISDICTION THE AGENT OR THE LENDERS DEEM NECESSARY OR APPROPRIATE IN ORDER TO REALIZE ON THE COLLATERAL OR OTHER SECURITY FOR THE
OBLIGATIONS AND (2) EACH OF THE PARTIES HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THE COURTS DESCRIBED IN THE IMMEDIATELY PRECEDING SENTENCE MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE THOSE JURISDICTIONS. 
 (c)    THE BORROWER HEREBY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT AND CONSENTS THAT ALL SUCH SERVICE
OF PROCESS MAY BE MADE BY REGISTERED MAIL (RETURN RECEIPT REQUESTED) DIRECTED TO THE BORROWER AT ITS ADDRESS SET FORTH IN SECTION 13.8 AND SERVICE SO MADE SHALL BE DEEMED TO BE COMPLETED FIVE (5) DAYS AFTER THE SAME SHALL HAVE BEEN SO
DEPOSITED IN THE U.S. MAILS POSTAGE PREPAID. NOTHING CONTAINED HEREIN SHALL AFFECT THE RIGHT OF AGENT OR THE LENDERS TO SERVE LEGAL PROCESS BY ANY OTHER MANNER PERMITTED BY LAW. 
 13.4    WAIVER OF JURY TRIAL. THE BORROWER, THE LENDERS AND THE AGENT EACH IRREVOCABLY WAIVE THEIR RESPECTIVE
RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT, THE OTHER LOAN DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY
TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR ANY AGENT-RELATED PERSON, PARTICIPANT OR ASSIGNEE, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. THE BORROWER, THE LENDERS AND THE AGENT EACH AGREE THAT ANY SUCH
CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM
OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR ANY PROVISION HEREOF OR THEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS. 
  

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 13.5    Survival of Representations and Warranties. All of the
Borrower’s representations and warranties contained in this Agreement shall survive the execution, delivery, and acceptance thereof by the parties, notwithstanding any investigation by the Agent or the Lenders or their respective agents.

 13.6    Other Security and Guaranties. The Agent, may, without notice or demand and without
affecting the Borrower’s obligations hereunder, from time to time: (a) take from any Person and hold collateral (other than the Collateral) for the payment of all or any part of the Obligations and exchange, enforce or release such
collateral or any part thereof; and (b) accept and hold any endorsement or guaranty of payment of all or any part of the Obligations and release or substitute any such endorser or guarantor, or any Person who has given any Lien in any other
collateral as security for the payment of all or any part of the Obligations, or any other Person in any way obligated to pay all or any part of the Obligations. 
 13.7    Fees and Expenses. The Borrower agrees to pay to the Agent, for its benefit, on demand, all costs and expenses that Agent pays or incurs in connection with the
negotiation, preparation, syndication, consummation, administration, enforcement, and termination of this Agreement or any of the other Loan Documents, including: (a) Attorney Costs; (b) costs and expenses (including attorneys’ and
paralegals’ fees and disbursements) for any amendment, supplement, waiver, consent, or subsequent closing in connection with the Loan Documents and the transactions contemplated thereby; (c) costs and expenses of lien and title searches
and title insurance; (d) taxes, fees and other charges for filing financing statements and continuations, and other actions to perfect, protect, and continue the Agent’s Liens (including costs and expenses paid or incurred by the Agent in
connection with the consummation of Agreement); (e) sums paid or incurred to pay any amount or take any action required of the Borrower under the Loan Documents that the Borrower fails to pay or take; (f) costs of appraisals, inspections,
and verifications of the Collateral, including travel, lodging, and meals for inspections of the Collateral and the Borrower’s operations by the Agent plus the Agent’s then customary charge for field examinations and audits and the
preparation of reports thereof (such charge is currently $750 per day (or portion thereof) for each Person retained or employed by the Agent with respect to each field examination or audit); and (g) costs and expenses of forwarding loan
proceeds, collecting checks and other items of payment, and establishing and maintaining Payment Accounts and lock boxes, and costs and expenses of preserving and protecting the Collateral. In addition, the Borrower agrees to pay costs and expenses
incurred by the Agent (including Attorneys’ Costs) to the Agent, for its benefit, on demand, and to the other Lenders for their benefit, on demand, and all reasonable fees, expenses and disbursements incurred by such other Lenders for one law
firm retained by such other Lenders, in each case, paid or incurred to obtain payment of the Obligations, enforce the Agent’s Liens, sell or otherwise realize upon the Collateral, and otherwise enforce the provisions of the Loan Documents, or
to defend any claims made or threatened against the Agent or any Lender arising out of the transactions contemplated hereby (including preparations for and consultations concerning any such matters). The foregoing shall not be construed to limit any
other provisions of the Loan Documents regarding costs and expenses to be paid by the Borrower. All of the foregoing costs and expenses shall be charged to the Borrower’s Loan Account as Revolving Loans as described in Section 3.6.

  

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 13.8    Notices. Except as otherwise provided herein, all
notices, demands and requests that any party is required or elects to give to any other shall be in writing, or by a telecommunications device capable of creating a written record, and any such notice shall become effective (a) upon personal
delivery thereof, including, but not limited to, delivery by overnight mail and courier service, (b) four (4) days after it shall have been mailed by United States mail, first class, certified or registered, with postage prepaid, or
(c) in the case of notice by such a telecommunications device, when properly transmitted, in each case addressed to the party to be notified as follows: 
 If to the Agent or to the Bank: 
 JPMorgan Chase Bank, N.A.

 120 South LaSalle Street 
 8th Floor 
 Chicago, Illinois 60603

 Attention: David Lehner 
 Telecopy No.: (312) 661-6929 
 with copies to: 
 Vik Puri 
 Latham & Watkins 
 233 South Wacker Drive 
 5800 Sears Tower 
 Chicago, Illinois 60606 
 Telecopy No.: (312) 993-9767 
 If to the Borrower: 
 Omnova Solutions Inc. 
 175 Ghent Road 
 Fairlawn, OH 44333 
 Attention: Michael E. Hicks 
 Telecopy No.: (330) 869-4544 
 with copies to: 
 Jeffery R. Rush 
 Frost Brown Todd LLC 
 2200 PNC Center 
 201 East Fifth Street 
 Cincinnati, OH 45202 
 or to
such other address as each party may designate for itself by like notice. Failure or delay in delivering copies of any notice, demand, request, consent, approval, declaration or other communication to the persons designated above to receive copies
shall not adversely affect the 

  

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effectiveness of such notice, demand, request, consent, approval, declaration or other communication. 
 13.9    Waiver of Notices. Unless otherwise expressly provided herein, the Borrower waives presentment, and
notice of demand or dishonor and protest as to any instrument, notice of intent to accelerate the Obligations and notice of acceleration of the Obligations, as well as any and all other notices to which it might otherwise be entitled. No notice to
or demand on the Borrower which the Agent or any Lender may elect to give shall entitle the Borrower to any or further notice or demand in the same, similar or other circumstances. 
 13.10    Binding Effect. The provisions of this Agreement shall be binding upon and inure to the benefit of
the respective representatives, successors, and assigns of the parties hereto; provided, however, that no interest herein may be assigned by the Borrower without prior written consent of the Agent and each Lender. The rights and
benefits of the Agent and the Lenders hereunder shall, if such Persons so agree, inure to any party acquiring any interest in the Obligations or any part thereof. 
 13.11    Indemnity of the Agent and the Lenders by the Borrower. 
 (a)    The Borrower agrees to defend, indemnify and hold the Agent-Related Persons, and each Lender and each of its respective officers, directors, employees, counsel, representatives, agents and
attorneys-in-fact (each, an “Indemnified Person”) harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, charges, expenses and disbursements (including Attorney
Costs) of any kind or nature whatsoever (excluding such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, charges, expenses and disbursements arising solely from disputes between or among Agent and/or Lenders)
which may at any time (including at any time following repayment of the Loans and the termination, resignation or replacement of the Agent or replacement of any Lender) be imposed on, incurred by or asserted against any such Person in any way
relating to or arising out of this Agreement or any document contemplated by or referred to herein, or the transactions contemplated hereby, or any action taken or omitted by any such Person under or in connection with any of the foregoing,
including with respect to any investigation, litigation or proceeding (including any Insolvency Proceeding or appellate proceeding) related to or arising out of this Agreement, any other Loan Document, or the Loans or the use of the proceeds
thereof, whether or not any Indemnified Person is a party thereto (all the foregoing, collectively, the “Indemnified Liabilities”); provided, that the Borrower shall have no obligation hereunder to any Indemnified Person to
the extent that any such Indemnified Liability results from that Indemnified Person’s gross negligence or willful misconduct. The agreements in this Section shall survive payment of all other Obligations. 
 (b)    The Borrower agrees to indemnify, defend and hold harmless the Agent and the Lenders from any loss or
liability directly or indirectly arising out of the use, generation, manufacture, production, storage, release, threatened release, discharge, disposal or presence of a hazardous substance relating to the Borrower’s operations, business or
property. This indemnity will apply whether the hazardous substance is on, under or about the Borrower’s property or operations or property leased to the Borrower. The indemnity includes but is not 

  

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limited to Attorneys Costs. The indemnity extends to the Agent and the Lenders, their parents, affiliates, subsidiaries and all of their directors, officers,
employees, agents, successors, attorneys and assigns. “Hazardous substances” means any substance, material or waste that is or becomes designated or regulated as “toxic,” “hazardous,” “pollutant,” or
“contaminant” or a similar designation or regulation under any federal, state or local law (whether under common law, statute, regulation or otherwise) or judicial or administrative interpretation of such, including petroleum or natural
gas. This indemnity will survive repayment of all other Obligations. 
 13.12    Limitation of
Liability. NO CLAIM MAY BE MADE BY THE BORROWER, ANY LENDER OR OTHER PERSON AGAINST THE AGENT, ANY LENDER, OR THE AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES, COUNSEL, REPRESENTATIVES. AGENTS OR ATTORNEYS-IN-FACT OF ANY OF THEM FOR ANY SPECIAL,
INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES IN RESPECT OF ANY CLAIM FOR BREACH OF CONTRACT OR ANY OTHER THEORY OF LIABILITY ARISING OUT OF OR RELATED TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY ACT, OMISSION
OR EVENT OCCURRING IN CONNECTION THEREWITH, AND THE BORROWER AND EACH LENDER HEREBY WAIVE, RELEASE AND AGREE NOT TO SUE UPON ANY CLAIM FOR SUCH DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR. 

13.13    Final Agreement. This Agreement and the other Loan Documents are intended by the Borrower, the
Agent and the Lenders to be the final, complete, and exclusive expression of the agreement between them. This Agreement supersedes any and all prior oral or written agreements relating to the subject matter hereof except for that certain “fee
letter” dated April 26, 2007 between the Borrower and the Agent. No modification, rescission, waiver, release, or amendment of any provision of this Agreement or any other Loan Document shall be made, except by a written agreement signed
by the Borrower and a duly authorized officer of each of the Agent and the requisite Lenders. 
 13.14    Counterparts. This Agreement may be executed in any number of counterparts, and by the Agent, each Lender and the Borrower in separate counterparts, each of which shall be an original, but all of which
shall together constitute one and the same agreement; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. 
 13.15    Captions. The captions contained in this Agreement are for convenience of reference only, are without
substantive meaning and should not be construed to modify, enlarge, or restrict any provision. 
 13.16    Right of Setoff. In addition to any rights and remedies of the Lenders provided by law, if an Event of Default exists or the Loans have been accelerated, each Lender is authorized at any time and from
time to time, without prior notice to the Borrower, any such notice being waived by the Borrower to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time
held by, and other indebtedness at any time owing by, such Lender or any Affiliate of such Lender to or for the credit or the account of the Borrower against any and all Obligations owing to such 

  

 70 

 
Lender, now or hereafter existing, irrespective of whether or not the Agent or such Lender shall have made demand under this Agreement or any Loan Document
and although such Obligations may be contingent or unmatured. Each Lender agrees promptly to notify the Borrower and the Agent after any such set-off and application made by such Lender; provided, however, that the failure to give such
notice shall not affect the validity of such set-off and application. NOTWITHSTANDING THE FOREGOING, NO LENDER SHALL EXERCISE ANY RIGHT OF SET-OFF, BANKER’S LIEN, OR THE LIKE AGAINST ANY DEPOSIT ACCOUNT OR PROPERTY OF THE BORROWER HELD OR
MAINTAINED BY SUCH LENDER WITHOUT THE PRIOR WRITTEN UNANIMOUS CONSENT OF THE LENDERS. 
 13.17    Confidentiality. 
 (a)    The Borrower hereby consents
that the Agent and each Lender may issue and disseminate to the public general information describing the credit accommodation entered into pursuant to this Agreement, including the name and address of the Borrower and a general description of the
Borrower’s business and may use the Borrower’s name in advertising and other promotional material. 
 (b)    Each Lender severally agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all information identified as “confidential” or “secret” by the
Borrower and provided to the Agent or such Lender by or on behalf of the Borrower, under this Agreement or any other Loan Document, except to the extent that such information (i) was or becomes generally available to the public other than as a
result of disclosure by the Agent or such Lender, or (ii) was or becomes available on a nonconfidential basis from a source other than the Borrower, provided that such source is not bound by a confidentiality agreement with the Borrower known
to the Agent or such Lender; provided, however, that the Agent and any Lender may disclose such information (1) at the request or pursuant to any requirement of any Governmental Authority to which the Agent or such Lender is
subject or in connection with an examination of the Agent or such Lender by any such Governmental Authority; (2) pursuant to subpoena or other court process; (3) when required to do so in accordance with the provisions of any applicable
Requirement of Law; (4) to the extent reasonably required in connection with any litigation or proceeding (including, but not limited to, any bankruptcy proceeding) to which the Agent, any Lender or their respective Affiliates may be party;
(5) to the extent reasonably required in connection with the exercise of any remedy hereunder or under any other Loan Document; (6) to the Agent’s or such Lender’s independent auditors, accountants, attorneys and other
professional advisors; (7) to any prospective Participant or Assignee under any Assignment and Acceptance, actual or potential, provided that such prospective Participant or Assignee agrees to keep such information confidential to the same
extent required of the Agent and the Lenders hereunder; (8) as expressly permitted under the terms of any other document or agreement regarding confidentiality to which the Borrower is party or is deemed party with the Agent or such Lender, and
(9) to its Affiliates. 
 Notwithstanding anything herein to the contrary, confidential information shall not include,
and Agent and each Lender (and each employee, representative or other agent of any Lender) may disclose to any and all Persons, without limitation of any kind, the “tax treatment” and “tax structure” (in each case, within the
meaning of Treasury Regulation Section 1.6011-4) of the transactions contemplated hereby and all materials of any kind (including opinions or 

  

 71 

 
other tax analyses) that are or have been provided to Agent or such Lender relating to such tax treatment or tax structure; provided that with respect
to any document or similar item that in either case contains information concerning such tax treatment or tax structure of the transactions contemplated hereby as well as other information, this sentence shall only apply to such portions of the
document or similar item that relate to such tax treatment or tax structure. 
 13.18    Conflicts
with Other Loan Documents. Unless otherwise expressly provided in this Agreement (or in another Loan Document by specific reference to the applicable provision contained in this Agreement), if any provision contained in this Agreement conflicts
with any provision of any other Loan Document, the provision contained in this Agreement shall govern and control. 
 13.19    Patriot Act Notice. Each Lender subject to the USA Patriot Act of 2001 (31 U.S.C. 5318 et seq.) hereby notifies the Borrower that, pursuant to Section 326 thereof, it is required to obtain, verify
and record information that identifies the Borrower, including the name and address of the Borrower and other information allowing such Lender to identify the Borrower in accordance with such act. 
 ARTICLE 14 
 AMENDMENT AND RESTATEMENT

 14.1    Interrelationship with the Prior Credit Agreement. As stated in the preamble
hereof, this Agreement is intended to amend and restate the provisions of the Prior Credit Agreement and, except as expressly modified herein, (x) all of the terms and provisions of the Prior Credit Agreement shall continue to apply for the
period prior to the Closing Date, including any determinations of payment dates, interest rates, Events of Default or any amount that may be payable to Agent or the Lenders, (y) the Obligations under (and as defined in) the Prior Credit
Agreement shall continue to be paid or prepaid on or prior to the Closing Date in accordance with the terms of the Prior Credit Agreement, and shall from and after the Closing Date continue to be owing as Obligations hereunder and be subject to the
terms of this Agreement and (z) this Agreement shall not be deemed to evidence or result in a novation or repayment of the Revolving Loans under (and as defined in) the Prior Credit Agreement and reborrowing hereunder, but obligations under the
Prior Credit Agreement and Liens securing payment and performance thereof shall in all respects be continuing as Obligations under this Agreement and Liens securing payment and performance thereof. All “Letters of Credit” under (and as
defined in) the Prior Credit Agreement and outstanding on the date hereof shall continue as Letters of Credit under this Agreement. All references in the other Loan Documents and the Loan Documents executed in connection with the Prior Credit
Agreement to (i) the Prior Credit Agreement or the “Credit Agreement” shall be deemed to include references to this Agreement and all amendments, restatements and modifications to this Agreement and (ii) the “Lenders”
or a “Lender” or to the “Agent” shall mean such terms as defined in this Agreement. All Obligations of the Borrower under the Prior Credit Agreement shall be governed by this Agreement from and after the Closing Date. The Loan
Documents delivered in connection with this Agreement shall supersede the corresponding Loan Documents delivered in connection with the Prior Credit Agreement. The Loan Documents executed in connection with the Prior Credit Agreement that are not
superseded by corresponding Loan Documents executed and delivered in connection with this Agreement shall remain in full force and effect. All references to the Prior 

  

 72 

 
Credit Agreement in the Loan Documents executed in connection with the Prior Credit Agreement that are not expressly superseded by deliveries of such new
Loan Documents shall be deemed to refer to this Agreement and all amendments, restatements and modifications to this Agreement. 
 14.2    Confirmation of Existing Obligations. Borrower acknowledges and agrees that as of close of business on May 21, 2007, (a) the aggregate principal amount of the Revolving Loans outstanding under
(and as defined in) the Prior Credit Agreement was $5,753,742.76 and that Borrower has no defense, counterclaim or setoff with respect to the payment thereof and (b) the aggregate face amount of Letters of Credit outstanding under (and as
defined in) the Prior Credit Agreement was $3,376,577.00 and that Borrower has no defense, counterclaim or setoff with respect to any obligations arising thereunder. 
 [Signature Page Follows] 
  

 73 

 IN WITNESS WHEREOF, the parties have entered into this Agreement on the date first above
written. 
  

			
	 “BORROWER”

	
	 OMNOVA SOLUTIONS INC.

		
	 By:
	 	  
	 Title:
	 	  
	
	 “AGENT”

	
	 JPMORGAN CHASE BANK, N.A., as the Agent

		
	 By:
	 	  
	 Title:
	 	  
	
	 “LENDERS”

	
	 JPMORGAN CHASE BANK, N.A., as a Lender

		
	 By:
	 	  
	 Title:
	 	  

  

 S-1 
 [Signature Page to Credit Agreement] 

			
	 PNC BANK, NATIONAL ASSOCIATION, as a Lender

		
	 By:
	 	  
	 Title:
	 	  

  

 S-2 
 [Signature Page to Credit Agreement] 

			
	 FIFTH THIRD BANK, as a Lender

		
	 By:
	 	  
	 Title:
	 	  

  

 S-3 
 [Signature Page to Credit Agreement] 

			
	 LASALLE BUSINESS CREDIT, LLC, as a Lender

		
	 By:
	 	  
	 Title:
	 	  

  

 S-4 
 [Signature Page to Credit Agreement] 

			
	 KEYBANK NATIONAL ASSOCIATION, as a Lender

		
	 By:
	 	  
	 Title:
	 	  

  

 S-5 
 [Signature Page to Credit Agreement] 

 ANNEX A 
 to 
 Credit Agreement 
 Definitions 
 Capitalized terms used in the Loan
Documents shall have the following respective meanings (unless otherwise defined therein), and all section references in the following definitions shall refer to sections of the Agreement: 
 “Accounts” means all of the Borrower’s now owned or hereafter acquired or arising accounts, as defined in the UCC,
including any rights to payment for the sale or lease of goods or rendition of services, whether or not they have been earned by performance. 
 “Account Debtor” means each Person obligated in any way on or in connection with an Account, Chattel Paper or General Intangibles (including a payment intangible). 
 “ACH Transactions” means any cash management or related services including the automatic clearing house transfer of
funds by the Bank for the account of the Borrower pursuant to agreement or overdrafts. 
 “Additional
Commitment” has the meaning specified in Section 1.2(j). 
 “Adjusted Net Earnings from
Continuing Operations” means, with respect to any fiscal period of the Borrower, the Borrower’s income (loss) from continuing operations after provision for income taxes for such fiscal period, as determined in accordance with GAAP and
reported on the Financial Statements for such period, excluding any and all of the following included in such income (loss) from continuing operations: (a) gain or loss arising from the sale or disposal of any capital assets; (b) gain
arising from any write-up in the book value of any asset and loss arising from any write-down of any assets (other than Accounts, Inventory and other current assets); (c) earnings of any Person, substantially all the assets of which have been
acquired by the Borrower in any manner, to the extent realized by such other Person prior to the date of acquisition; (d) earnings of any Person in which the Borrower has an ownership interest unless (and only to the extent) such earnings shall
actually have been received by the Borrower in the form of cash distributions; (e) earnings of any Person to which assets of the Borrower shall have been sold, transferred or disposed of, or into which the Borrower shall have been merged, or
which has been a party with the Borrower to any consolidation or other form of reorganization, prior to the date of such transaction; (f) gain or loss arising from the acquisition of debt or equity securities of the Borrower or from
cancellation or forgiveness of Debt; (g) income or expense from Borrower’s Pension Plans but any cash payments made in respect of such Pension Plans shall be included; (h) expenses arising from Borrower’s contributions of
Borrower’s stock to its Plans; (i) any gains or losses arising from any changes in Borrower’s LIFO reserve; and (j) any cumulative effect of an accounting change from the implementation of a new accounting pronouncement as
required by GAAP. 
 “Affiliate” of any Person means any other Person directly or indirectly controlling,
controlled by or under common control with such Person. A Person shall be deemed to control another Person if the controlling Person owns 10% or more of any class of voting 

  

 Annex A-1 

 
securities (or other ownership interests) of the controlled Person or possesses, directly or indirectly, the power to direct or cause the direction of the
management or policies of the controlled Person, whether through ownership of stock, by contract or otherwise. 
 “Agent” means the Bank, solely in its capacity as agent for the Lenders, and any successor agent. 
 “Agent Advances” has the meaning specified in Section 1.2(i). 
 “Agent’s
Liens” means the Liens in the Collateral granted to the Agent, for the benefit of the Lenders, Bank, and Agent pursuant to this Agreement and the other Loan Documents. 
 “Agent-Related Persons” means the Agent, together with its Affiliates, and the officers, directors, employees, counsel, representatives, agents and attorneys-in-fact of the Agent
and such Affiliates. 
 “Aggregate Revolver Outstandings” means, at any date of determination: the sum of
(a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate
amount of any unpaid reimbursement obligations in respect of Letters of Credit. 
 “Agreement” means the
Amended and Restated Credit Agreement to which this Annex A is attached, as from time to time amended, modified or restated. 
 “Alternate Base Rate” means, for any day, a rate of interest per annum equal to the higher of (i) the Prime Rate for such day and (ii) the sum of the Federal Funds Effective Rate for such day plus 1/2% per
annum. 
 “Alternate Base Rate Revolving Loan” means a Revolving Loan during any period in which it bears
interest based on the Alternate Base Rate. 
 “Anniversary Date” means each anniversary of the Closing Date.

 “Applicable Margin” means, 
 (i)    with respect to Alternate Base Rate Revolving Loans and all other Obligations, 0%; 
 (ii)    with respect to Eurodollar Revolving Loans, 1.50%; 
 (iii)    with respect to the Letter of Credit Fee, 1.50%; and 
 (iv)    with respect to the Unused Line Fee, 0.125%. 
 The Applicable Margins shall be adjusted
(up or down) prospectively on a quarterly basis as determined by the Borrower’s Fixed Charge Coverage Ratio for the four Fiscal 

  

 Annex A-2 

 
Quarter period then ending, commencing with the first day of the first calendar month following receipt of the monthly financial statements for each Fiscal
Quarter (commencing with the Fiscal Quarter ending August 31, 2007), Adjustments in Applicable Margins shall be determined by reference to the following grids: 
  

			
	 If the Fixed Charge Coverage Ratio is:
	  	 Level of Applicable Margins:

	 < 1.25
	  	 Level IV

	 > 1.25, but < 1.50
	  	 Level III

	 > 1.50, but < 1.75
	  	 Level II

	 > 1.75
	  	 Level I

 Low to High 
  

													
	 	  	Applicable Margins	 
	 	  	Level I	 	 	Level II	 	 	Level III	 	 	Level IV	 
	 Alternate Base Rate Revolving Loans
	  	0.0	%	 	0.00	%	 	0.25	%	 	0.25	%
	 Eurodollar Revolving Loans
	  	1.25	%	 	1.50	%	 	1.75	%	 	2.00	%
	 Letter of Credit Fee
	  	1.25	%	 	1.50	%	 	1.75	%	 	2.00	%
	 Unused Line Fee
	  	0.125	%	 	0.125	%	 	0.25	%	 	0.25	%

 All adjustments in the Applicable Margins after August 31, 2007 shall be
implemented quarterly on a prospective basis, for each Fiscal Quarter commencing on the first day of the first calendar month following the date of delivery to the Lenders of quarterly unaudited or annual audited (as applicable) Financial Statements
evidencing the need for an adjustment. Concurrently with the delivery of those Financial Statements, the Borrower shall deliver to the Agent and the Lenders a certificate, signed by its chief financial officer, setting forth in reasonable detail the
basis for the continuance of, or any change in, the Applicable Margins. Failure to timely deliver such Financial Statements shall, in addition to any other remedy provided for in this Agreement, result in an increase in the Applicable Margins to the
highest level set forth in the foregoing grid, until the first day of the first Fiscal Quarter following the delivery of those Financial Statements demonstrating that such an increase is not required. If a Default or Event of Default has occurred
and is continuing at the time any reduction in the Applicable Margins is to be implemented, no reduction may occur until the first day of the first Fiscal Quarter following the date on which such Default or Event of Default is waived or cured.

 “Appraisal” means an appraisal delivered to Agent prior to the Closing Date and thereafter pursuant to
Section 5.4, in each case setting forth the Net Orderly Liquidation Value of Inventory in form and substance acceptable to Agent and performed by an appraiser acceptable to Agent. 
 “Assignee” has the meaning specified in Section 11.2(a). 
 “Assignment and Acceptance” has the meaning specified in Section 11.2(a). 
  

 Annex A-3 

 “Attorney Costs” means and includes all reasonable fees, expenses and
disbursements of any law firm or other counsel engaged by the Agent, the reasonably allocated costs and expenses of internal legal services of the Agent. 
 “Availability” means, at any time (a) the lesser of (i) the Maximum Revolver Amount or (ii) the Borrowing Base, minus (b) Reserves other than Reserves deducted in the
calculation of the Borrowing Base, minus (c) in each case, the Aggregate Revolver Outstandings. 
 “Bank” means JPMorgan Chase Bank, N.A., a national banking association having its principal office in Chicago, Illinois, in its individual capacity, and its successors. 
 “Bank Products” means any one or more of the following types of services or facilities extended to the Borrower by the
Bank or any affiliate of the Bank in reliance on the Bank’s agreement to indemnify such affiliate: (i) credit cards; (ii) ACH Transactions; (iii) leases and (iv) cash management, including controlled disbursement services.

 “Bank Product Reserves” means all reserves which the Agent from time to time establishes in its
reasonable discretion for outstanding Bank Products and/or Hedge Agreements. 
 “Bankruptcy Code” means
Title 11 of the United States Code (11 U.S.C. § 101 et seq.). 
 “Blocked Account
Agreement” means an agreement among the Borrower, the Agent and a Clearing Bank, in form and substance reasonably satisfactory to the Agent, concerning the collection of payments which represent the proceeds of Accounts or of any other
Collateral. 
 “Borrowing” means a borrowing hereunder consisting of Revolving Loans made on the same day by
the Lenders to the Borrower or by the Bank in the case of a Borrowing funded by Swing Line Loans or by the Agent in the case of a Borrowing consisting of an Agent Advance, or the issuance of Letters of Credit hereunder. 
 “Borrowing Base” means, at any time an amount equal to (a) the sum of (i) up to eighty-five percent
(85%) of the Net Amount of Eligible Accounts; plus (ii) the lesser of (A) up to sixty-five percent (65%) of the book value of Eligible Inventory consisting of raw materials and finished goods or (B) up to eighty-five
percent (85%) of the Net Orderly Liquidation Value Factor (based on the most recent Appraisal) multiplied by the book value of Eligible Inventory consisting of raw materials and finished goods; minus (b) Reserves from time to time
established by the Agent in its reasonable credit judgment; provided that the aggregate Revolving Loans advanced against Eligible Inventory shall not exceed the Maximum Inventory Loan Amount. 
 “Borrowing Base Certificate” means a certificate by a Responsible Officer of the Borrower, substantially in the form of
Exhibit B (or another form acceptable to the Agent) setting forth the calculation of the Borrowing Base, including a calculation of each component thereof, all in such detail as shall be reasonably satisfactory to the Agent. All calculations
of the Borrowing Base in connection with the preparation of any Borrowing Base Certificate shall originally be made by the Borrower and certified to the Agent; provided, that the Agent shall have the right to review and adjust, in the exercise of
its reasonable credit judgment, any such 

  

 Annex A-4 

 
calculation (1) to reflect its reasonable estimate of declines in value of any of the Collateral described therein, and (2) to the extent that such
calculation is not in accordance with this Agreement. 
 “Business Day” means (i) with respect to any
borrowing, payment or rate selection of Eurodollar Revolving Loans, a day (other than a Saturday or Sunday) on which banks generally are open in Chicago and New York City for the conduct of substantially all of their commercial lending activities,
interbank wire transfers can be made on the Fedwire system and dealings in United States dollars are carried on in the London interbank market and (ii) for all other purposes, a day (other than a Saturday or Sunday) on which banks generally are
open in Chicago for the conduct of substantially all of their commercial lending activities and interbank wire transfers can be made on the Fedwire system. 
 “Capital Adequacy Regulation” means any guideline, request or directive of any central bank or other Governmental Authority, or any other law, rule or regulation, whether or not
having the force of law, in each case, regarding capital adequacy of any bank or of any corporation controlling a bank. 
 “Capital Expenditures” means, with respect to any fiscal period of Borrower, all payments made in such period in respect of the cost of any fixed asset or improvement, or replacement, substitution, or addition thereto,
which has a useful life of more than one year, including, without limitation, those costs arising in connection with the direct or indirect acquisition of such asset by way of increased product or service charges or in connection with a Capital
Lease. 
 “Capital Lease” means any lease of property by the Borrower which, in accordance with GAAP, should
be reflected as a capital lease on the balance sheet of the Borrower. 
 “Change of Control” means any of
the following: (a) any person or group of persons (within the meaning of the Securities Exchange Act of 1934) shall have acquired beneficial ownership (within the meaning of Rule 13d-3 promulgated by the Securities and Exchange Commission under
the Securities Exchange Act of 1934) of 20% or more of the issued and outstanding shares of capital stock of Borrower having the right to vote for the election of directors of Borrower under ordinary circumstances; (b) during any period of
twelve consecutive calendar months, individuals who at the beginning of such period constituted the board of directors of Borrower (together with any new directors whose election by the board of directors of Borrower or whose nomination for election
by the stockholders of Borrower was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was previously so approved)
cease for any reason other than death or disability to constitute a majority of the directors then in office; (c) Borrower ceases to own and control all of the economic and voting rights associated with all of the outstanding equity of any of
its Subsidiaries; or (d) any “Change of Control” (as such term is defined in the Term Loan Agreement). 
 “Chattel Paper” means all of the Borrower’s now owned or hereafter acquired chattel paper, as defined in the UCC, including electronic chattel paper. 
  

 Annex A-5 

 “Clearing Bank” means the Bank or any other banking institution with
whom a Payment Account has been established pursuant to a Blocked Account Agreement. 
 “Closing Date” means
May 22, 2007. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Collateral” means all of the assets of the Borrower and its domestic Subsidiaries that guaranty the Obligations,
whether consisting of personal, tangible or intangible property, (including all of the outstanding shares of capital stock of the Borrower’s Subsidiaries); provided further that pledges of shares of stock of Subsidiaries as in existence
on the Closing Date shall be limited to a pledge of 100% of the outstanding shares of the Pledged Entities. 
 “Commitment” means, at any time with respect to a Lender, the principal amount of Revolving Loans set forth beside such Lender’s name under the heading “Commitment” on Schedule 1.2 attached to
the Agreement or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 11.2, as such Commitment may be adjusted from time to time in
accordance with the provisions of Section 1.2(j), Section 3.3(d) and Section 11.2, and “Commitments” means, collectively, the aggregate amount of the commitments of all of the Lenders. 

“Contaminant” means any waste, pollutant, hazardous substance, toxic substance, hazardous waste, special waste,
petroleum or petroleum-derived substance or waste, asbestos in any form or condition, polychlorinated biphenyls (“PCBs”), or any constituent of any such substance or waste. 
 “Continuation/Conversion Date” means the date on which a Loan is converted into or continued as a Eurodollar Revolving
Loan. 
 “Copyright Security Agreement” means the Copyright Security Agreement, dated as of May 28,
2003, executed and delivered by the Borrower to the Agent to evidence and perfect the Agent’s security interest in the Borrower’s present and future copyrights and related licenses and rights, for the benefit of the Agent and the Lenders.

 “Credit Support” has the meaning specified in Section 1.3(a). 
 “Debt” means, without duplication, all liabilities, obligations and indebtedness of the Borrower or any of its
Subsidiaries to any Person, of any kind or nature, now or hereafter owing, arising, due or payable, howsoever evidenced, created, incurred, acquired or owing, whether primary, secondary, direct, contingent, fixed or otherwise, consisting of
indebtedness for borrowed money or the deferred purchase price of property, excluding trade payables, but including (a) all Obligations; (b) all obligations and liabilities of Borrower or any of its Subsidiaries secured by any Lien on the
Borrower’s or any of its Subsidiaries’ property, even though the Borrower or such Subsidiary shall not have assumed or become liable for the payment thereof; provided, however, that all such obligations and liabilities which
are limited in recourse to such property shall be included in Debt only to the extent of the book value of such property as would be shown on a balance sheet of the Borrower or such Subsidiary prepared in 

  

 Annex A-6 

 
accordance with GAAP; (c) all obligations or liabilities created or arising under any Capital Lease or conditional sale or other title retention
agreement with respect to property used or acquired by the Borrower or any of its Subsidiaries, even if the rights and remedies of the lessor, seller or lender thereunder are limited to repossession of such property; provided, however,
that all such obligations and liabilities which are limited in recourse to such property shall be included in Debt only to the extent of the book value of such property as would be shown on a balance sheet of the Borrower or such Subsidiary prepared
in accordance with GAAP; (d) all obligations and liabilities under Guaranties and (e) the present value (discounted at the Alternate Base Rate) of lease payments due under synthetic leases. 
 “Default” means any event or circumstance which, with the giving of notice, the lapse of time, or both, would (if not
cured, waived, or otherwise remedied during such time) constitute an Event of Default. 
 “Default Rate”
means a fluctuating per annum interest rate at all times equal to the sum of (a) the otherwise applicable Interest Rate plus (b) two percent (2%) per annum. Each Default Rate shall be adjusted simultaneously with any
change in the applicable Interest Rate. In addition, the Default Rate shall result in an increase in the Letter of Credit Fee by two (2) percentage points per annum. 
 “Defaulting Lender” has the meaning specified in Section 12.15(c). 
 “Deposit Accounts” means all “deposit accounts” as such term is defined in the UCC, now or hereafter held in the name of Borrower. 
 “Designated Account” has the meaning specified in Section 1.2(c). 
 “Distribution” means, in respect of any corporation: (a) the payment or making of any dividend or other
distribution of property in respect of capital stock (or any options or warrants for, or other rights with respect to, such stock) of such corporation, other than distributions in capital stock (or any options or warrants for such stock) of the same
class; or (b) the redemption or other acquisition by such corporation of any capital stock (or any options or warrants for such stock) of such corporation. 
 “Documents” means all documents as such term is defined in the UCC, including bills of lading, warehouse receipts or other documents of title, now owned or hereafter acquired by
the Borrower. 
 “DOL” means the United States Department of Labor or any successor department or agency.

 “Dollar” and “$” means dollars in the lawful currency of the United States. Unless
otherwise specified, all payments under the Agreements shall be made in Dollars. 
 “EBITDA” means, with
respect to any fiscal period of the Borrower, Adjusted Net Earnings from Continuing Operations, plus, to the extent deducted in the determination of Adjusted Net Earnings from Continuing Operations for that fiscal period, interest expenses,
Federal, state, local and foreign income taxes, depreciation and amortization. 
  

 Annex A-7 

 “Eligible Accounts” means the Accounts which the Agent in the exercise
of its reasonable commercial discretion determines to be Eligible Accounts. Without limiting the discretion of the Agent to establish other criteria of ineligibility, Eligible Accounts shall not, unless the Agent in its sole discretion elects,
include any Account: 
 (a)    with respect to which (i) the stated term for such Account is in
excess of 60 days from the date of the original invoice therefor (unless any invoice with extended terms in excess of 60 days is approved by Agent in its sole discretion), (ii) more than 90 days have elapsed since the date of the original
invoice therefor or (iii) such Account is more than 60 days past due; 
 (b)    with respect to
which any of the representations, warranties, covenants, and agreements contained in the Security Agreement are incorrect or have been breached; 
 (c)    with respect to which Account (or any other Account due from such Account Debtor), in whole or in part, a check, promissory note, draft, trade acceptance or other instrument for the payment
of money has been received, presented for payment and returned uncollected for any reason; 
 (d)    which represents a progress billing (as hereinafter defined) or as to which the Borrower has extended the time for payment without the consent of the Agent; for the purposes hereof, “progress billing”
means any invoice for goods sold or leased or services rendered under a contract or agreement pursuant to which the Account Debtor’s obligation to pay such invoice is conditioned upon the Borrower’s completion of any further performance
under the contract or agreement; 
 (e)    with respect to which any one or more of the following events
has occurred to the Account Debtor on such Account: death or judicial declaration of incompetency of an Account Debtor who is an individual; the filing by or against the Account Debtor of a request or petition for liquidation, reorganization,
arrangement, adjustment of debts, adjudication as a bankrupt, winding-up, or other relief under the bankruptcy, insolvency, or similar laws of the United States, any state or territory thereof, or any foreign jurisdiction, now or hereafter in
effect; the making of any general assignment by the Account Debtor for the benefit of creditors; the appointment of a receiver or trustee for the Account Debtor or for any of the assets of the Account Debtor, including, without limitation, the
appointment of or taking possession by a “custodian,” as defined in the Federal Bankruptcy Code; the institution by or against the Account Debtor of any other type of insolvency proceeding (under the bankruptcy laws of the United States or
otherwise) or of any formal or informal proceeding for the dissolution or liquidation of, settlement of claims against, or winding up of affairs of, the Account Debtor; the sale, assignment, or transfer of all or any material part of the assets of
the Account Debtor; the nonpayment generally by the Account Debtor of its debts as they become due; or the cessation of the business of the Account Debtor as a going concern; 
 (f)    if twenty-five percent (25%) or more of the aggregate Dollar amount of outstanding Accounts owed at such time by the Account Debtor thereon is classified as
ineligible under clause (a) above; 
  

 Annex A-8 

 (g)    owed by an Account Debtor which: (i) does not maintain
its chief executive office in the United States of America or Canada (other than the Province of Newfoundland); or (ii) is not organized under the laws of the United States of America or Canada or any state or province thereof; or (iii) is
the government of any foreign country or sovereign state, or of any state, province, municipality, or other political subdivision thereof, or of any department, agency, public corporation, or other instrumentality thereof; except to the extent that
such Account is secured or payable by a letter of credit satisfactory to the Agent in its discretion; 
 (h)    owed by an Account Debtor which is an Affiliate or employee of the Borrower; 
 (i)    except as provided in clause (k) below, with respect to which either the perfection, enforceability, or validity of the Agent’s Liens in such Account, or the Agent’s right or ability to
obtain direct payment to the Agent of the proceeds of such Account, is governed by any federal, state, or local statutory requirements other than those of the UCC; 
 (j)    owed by an Account Debtor to which the Borrower or any of its Subsidiaries, is indebted in any way, or which is subject to any right of setoff or recoupment by the
Account Debtor, unless the Account Debtor has entered into an agreement acceptable to the Agent to waive setoff rights; or if the Account Debtor thereon has disputed liability or made any claim with respect to any other Account due from such Account
Debtor; but in each such case only to the extent of such indebtedness, setoff, recoupment, dispute, or claim; 
 (k)    owed by the government of the United States of America, or any department, agency, public corporation, or other instrumentality thereof, unless the Federal Assignment of Claims Act of 1940, as amended (31 U.S.C.
§ 3727 et seq.), and any other steps necessary to perfect the Agent’s Liens therein, have been complied with to the Agent’s satisfaction with respect to such Account; 
 (l)    owed by any state, municipality, or other political subdivision of the United States of America, or any
department, agency, public corporation, or other instrumentality thereof and as to which the Agent determines that its Lien therein is not or cannot be perfected; 
 (m)    which represents a sale on a bill-and-hold (unless Agent receives a satisfactory acknowledgement letter from the Account Debtor as to the validity of such Account but
in no event shall the aggregate of such bill-and-hold Accounts exceed (i) $500,000 at any time outstanding with respect to Accounts from Metro Wall Coverings and (ii) $100,000 at any time outstanding with respect to all other Account
Debtors with bill-and-hold Accounts), guaranteed sale, sale and return, sale on approval, consignment, or other repurchase or return basis; 
 (n)    which is evidenced by a promissory note or other instrument or by chattel paper; 
  

 Annex A-9 

 (o)    if the Agent believes, in the exercise of its reasonable
judgment, that the prospect of collection of such Account is impaired or that the Account may not be paid by reason of the Account Debtor’s financial inability to pay; 
 (p)    with respect to which the Account Debtor is located in any state requiring the filing of a Notice of Business Activities Report or similar report in order to permit the
Borrower to seek judicial enforcement in such State of payment of such Account, unless such Borrower has qualified to do business in such state or has filed a Notice of Business Activities Report or equivalent report for the then current year;

 (q)    which arises out of a sale not made in the ordinary course of the Borrower’s business;

 (r)    with respect to which the goods giving rise to such Account have not been shipped and delivered
to and accepted by the Account Debtor or the services giving rise to such Account have not been performed by the Borrower, and, if applicable, accepted by the Account Debtor, or the Account Debtor revokes its acceptance of such goods or services;

 (s)    owed by an Account Debtor which is obligated to the Borrower respecting Eligible Accounts the
aggregate unpaid balance of which exceeds ten percent (10%) of the aggregate unpaid balance of all Eligible Accounts owed to the Borrower at such time by all of the Borrower’s Account Debtors, but only to the extent of such excess;

 (t)    which is not subject to a first priority and perfected security interest in favor of the Agent
for the benefit of the Lenders. 
 If any Account at any time ceases to be an Eligible Account, then such Account shall
promptly be excluded from the calculation of Eligible Accounts. 
 “Eligible Assignee” means (a) a
commercial bank, commercial finance company or other asset based lender, having total assets in excess of $1,000,000,000; (b) any Lender listed on the signature page of this Agreement; (c) any Affiliate of any Lender; and (d) if an
Event of Default has occurred and is continuing, any Person reasonably acceptable to the Agent. 
 “Eligible
inventory” means Inventory, valued at the lower of cost (on a first-in, first-out basis) or market, which the Agent, in its reasonable discretion, determines to be Eligible Inventory. Without limiting the discretion of the Agent to
establish other criteria of ineligibility, Eligible Inventory shall not, unless the Agent in its sole discretion elects, include any inventory: 
 (a)    that is not owned by the Borrower; 
 (b)    that is not subject to the Agent’s Liens, which are perfected as to such Inventory, or that are subject to any other Lien whatsoever (other than the Liens described in clause (d) of the definition
of Permitted Liens provided that such Permitted Liens (i) are junior in priority to the Agent’s Liens or subject to Reserves and (ii) do not impair directly or indirectly the ability of the Agent to realize on or obtain the full
benefit of the Collateral); 
 (c)    that does not consist of finished goods or raw materials;

  

 Annex A-10 

 (d)    that consists of samples, prototypes, supplies, or packing and
shipping materials; 
 (e)    that is not in good condition, is unmerchantable, or does not meet all
standards imposed by any Governmental Authority, having regulatory authority over such goods, their use or sale; 
 (f)    that is not currently either usable or salable, at prices approximating at least cost, in the normal course of the Borrower’s business, or that is slow moving or stale; 
 (g)    that is obsolete or slow-moving or returned or repossessed or used goods taken in trade; 
 (h)    that is located outside the United States of America (or that is in-transit from vendors or suppliers);

 (i)    that is located in a public warehouse or in possession of a bailee or in a facility leased by
the Borrower, if the warehouseman, or the bailee, or the lessor has not delivered to the Agent, if requested by the Agent, a subordination agreement in form and substance satisfactory to the Agent or if a Reserve for rents or storage charges has not
been established for Inventory at that location; 
 (j)    that contains or bears any Proprietary Rights
licensed to the Borrower by any Person, if the Agent is not satisfied that it may sell or otherwise dispose of such Inventory in accordance with the terms of the Security Agreement and Section 9.2 without infringing the rights of the
licensor of such Proprietary Rights or violating any contract with such licensor (and without payment of any royalties other than any royalties due with respect to the sale or disposition of such Inventory pursuant to the existing license
agreement), and, as to which the Borrower has not delivered to the Agent a consent or sublicense agreement from such licensor in form and substance acceptable to the Agent if requested; 
 (k)    that is not reflected in the details of a current perpetual inventory report and/or monthly physical report,
as applicable; or 
 (l)    that is Inventory placed on consignment unless Agent otherwise provides its
prior written consent to such consignment arrangement in its sole discretion and receives such UCC financial statements, third party acknowledgment letters and other documents as Agent shall request. 
 If any Inventory at any time ceases to be Eligible Inventory, such Inventory shall promptly be excluded from the calculation of Eligible
Inventory. 
 “Environmental Compliance Reserve” means any reserve which the Agent establishes in its
reasonable discretion after prior written notice to the Borrower from time to time for amounts that are reasonably likely to be expended by the Borrower in order for the Borrower and its operations and property (a) to comply with any notice
from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any 

  

 Annex A-11 

 
such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to Section 7.7. 
 “Environmental Laws” means all federal, state or local laws, statutes, common law duties, rules, regulations, ordinances
and codes, together with all administrative orders, directed duties, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case relating to environmental, health, safety and land use matters. 

“Environmental Lien” means a Lien in favor of any Governmental Authority for (a) any liability under
Environmental Laws, or (b) damages arising from, or costs incurred by such Governmental Authority in response to, a Release or threatened Release of a Contaminant into the environment. 
 “Equipment” means all of the Borrower’s now owned and hereafter acquired machinery, equipment, furniture,
furnishings, fixtures, and other tangible personal property (except Inventory), including embedded software, motor vehicles with respect to which a certificate of title has been issued, aircraft, dies, tools, jigs, molds and office equipment, as
well as all of such types of property leased by the Borrower and all of the Borrower’s rights and interests with respect thereto under such leases (including, without limitation, options to purchase); together with all present and future
additions and accessions thereto, replacements therefor, component and auxiliary parts and supplies used or to be used in connection therewith, and all substitutes for any of the foregoing, and all manuals, drawings, instructions, warranties and
rights with respect thereto; wherever any of the foregoing is located. 
 “ERISA” means the Employee
Retirement Income Security Act of 1974, as amended, and regulations promulgated thereunder. 
 “ERISA
Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrower within the meaning of Section 414 of the Code. 
 “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan, (b) a withdrawal by the Borrower or any ERISA Affiliate from a Pension Plan subject to
Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations which is treated as such a withdrawal under Section 4062(e) of ERISA, (c) a
complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan, (d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Section 4041 or 4041A of ERISA, or
the commencement of proceedings by the PBGC to terminate a Pension Plan or Multi-employer Plan, (e) the occurrence of an event or condition which might reasonably be expected to constitute grounds under Section 4042 of ERISA for the
termination of, or the appointment of a trustee to administer, any Pension Plan or Multi-employer Plan, or (f) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007
of ERISA, upon the Borrower or any ERISA Affiliate. 
 “Eurodollar Base Rate” means, with respect to a
Eurodollar Revolving Loan for the relevant Interest Period, the applicable British Bankers’ Association Eurodollar rate for deposits in U.S. dollars as reported by any generally recognized financial information service as 
  

 Annex A-12 

 
of 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period, and having a maturity equal to such Interest Period,
provided that, if no such British Bankers’ Association Eurodollar rate is available to the Agent, the applicable Eurodollar Base Rate for the relevant Interest Period shall instead be the rate determined by the Agent to be the rate at
which the Bank or one of its Affiliate banks offers to place deposits in U.S. dollars with first-class banks in the London interbank market at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period,
in the approximate amount of the Bank’s relevant Eurodollar Loan and having a maturity equal to such Interest Period. 
 “Eurodollar Interest Payment Date” means, with respect to a Eurodollar Revolving Loan, the Termination Date, the date of any repayment with respect to such Eurodollar Revolving Loan and the last day of each Interest Period
applicable to such Loan or, with respect to each Interest Period of greater than three months in duration, the last day of the third month of such Interest Period and the last day of such Interest Period. 
 “Eurodollar Rate” means, with respect to a Eurodollar Revolving Loan for the relevant Interest Period, the quotient of
(a) the Eurodollar Base Rate applicable to such Interest Period, divided by (b) one minus the Eurodollar Reserve Percentage (expressed as a decimal) applicable to such Interest Period. 
 “Eurodollar Reserve Percentage” means, for any day during any
Interest Period, the reserve percentage (expressed as a decimal, rounded upward to the next 1/100th of 1%) in effect
on such day applicable to member banks under regulations issued from time to time by the Federal Reserve Board for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect
to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurodollar Base Rate for each outstanding Eurodollar Revolving Loan shall be adjusted automatically as of the effective date of any change in the Eurodollar
Reserve Percentage. 
 “Eurodollar Revolving Loan” means a Revolving Loan during any period in which it
bears interest based on the Eurodollar Rate. 
 “Event of Default” has the meaning specified in
Section 9.1. 
 “Exchange Act” means the Securities Exchange Act of 1934, and regulations
promulgated thereunder. 
 “Federal Funds Effective Rate” means, for any day, an interest rate per annum
equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published for such day (or, if such day is not a Business Day, for the
immediately preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations at approximately 10:00 a.m. (Chicago time) on such day on such
transactions received by the Agent from three Federal funds brokers of recognized standing selected by the Agent in its sole discretion. 
 “Federal Reserve Board” means the Board of Governors of the Federal Reserve System or any successor thereto. 
  

 Annex A-13 

 “Financial Statements” means, according to the context in which it is
used, the financial statements referred to in Sections 5.2 and 6.6 or any other financial statements required to be given to the Lenders pursuant to this Agreement. 
 “Fiscal Quarter” means each fiscal quarter of Borrower ending on the last day of February, May, August and November of each Fiscal Year. 
 “Fiscal Year” means the Borrower’s fiscal year for financial accounting purposes which ends on November 30 of
each year. 
 “Fixed Assets” means the Equipment, Fixtures and Real Estate of the Borrower and its
Subsidiaries. 
 “Fixed Charge Coverage Ratio” means, with respect to any fiscal period of Borrower, the
ratio of EBITDA, plus to the extent deducted in the determination of Adjusted Net Earnings from Continuing Operations for that fiscal period, loss arising from extraordinary items, as determined in accordance with GAAP, or from any
non-recurring charges consisting of charges for restructurings, reductions in work force and plant closing and consolidations and other non-recurring charges not to exceed $2,000,000 for any 12 month period for all such items in the aggregate,
minus unfinanced Capital Expenditures to Fixed Charges. 
 “Fixed Charges” means, with respect to any
fiscal period of the Borrower on a consolidated basis, without duplication, interest expense, scheduled principal payments of Debt, Federal, state, local and foreign income taxes (excluding deferred taxes) and Distributions. For purposes of
calculating Fixed Charges in connection with the calculation of Fixed Charge Coverage Ratio under Section 7.23 only, the following amounts shall be subtracted from the calculation of interest expense for each twelve-month period ending
below: 
  

				
	 12-Month Period ending:
	  	Amount of
Subtraction:
	 May 31, 2007
	  	$	6,000,000
	 August 30, 2007
	  	$	4,500,000
	 November 30, 2007
	  	$	3,000,000
	 February 29, 2008
	  	$	1,500,000

 For purposes of calculating Fixed Charges in connection with the calculation of Fixed Charge
Coverage Ratio under Clause (xiii) of the definition of “Permitted Acquisitions” only, (a) the following amounts shall be subtracted from the calculation of interest expense for any twelve-month period ending below in which the
Fixed Charge Coverage Ratio is tested: 
  

				
	 12-Month Period ending:
	  	Amount of
Subtraction:
	 May 31, 2007
	  	$	6,000,000
	 June 30, 2007
	  	$	5,500,000
	 July 31, 2007
	  	$	5,000,000

  

 Annex A-14 

				
	 August 30, 2007
	  	$	4,500,000
	 September 30, 2007
	  	$	4,000,000
	 October 31, 2007
	  	$	3,500,000
	 November 30, 2007
	  	$	3,000,000
	 December 31, 2007
	  	$	2,500,000
	 January 31, 2008
	  	$	2,000,000
	 February 29, 2008
	  	$	1,500,000

 and (b) the following amounts shall be subtracted from the calculation of interest expense
for any three month period ending below in which the Fixed Charge Coverage Ratio is tested: 
  

				
	 3 Month Period ending:
	  	Amount of
Subtraction:
	 May 31, 2007
	  	$	1,500,000
	 June 30, 2007
	  	$	1,000,000
	 July 31, 2007
	  	$	500,000

 “Fixtures” means all “fixtures” as such term is defined
in the UCC, now owned or hereafter acquired by the Borrower. 
 “Funding Date” means the date on which a
Borrowing occurs. 
 “GAAP” means generally accepted accounting principles and practices set forth from time
to time in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar
functions of comparable stature and authority within the U.S. accounting profession), which are applicable to the circumstances as of the Closing Date. 
 “General Intangibles” means all of the Borrower’s now owned or hereafter acquired general intangibles, choses in action and causes of action and all other intangible personal property of the
Borrower of every kind and nature (other than Accounts), including, without limitation, all contract rights, payment intangibles, Proprietary Rights, corporate or other business records, inventions, designs, blueprints, plans, specifications,
patents, patent applications, trademarks, service marks, trade names, trade secrets, goodwill, copyrights, computer software, customer lists, registrations, licenses, franchises, tax refund claims, any funds which may become due to the Borrower in
connection with the termination of any Plan or other employee benefit plan or any rights thereto and any other amounts payable to the Borrower from any Plan or other employee benefit plan, rights and claims against carriers and shippers, rights to
indemnification, business interruption insurance and proceeds thereof, property, casualty or any similar type of insurance and any proceeds thereof, proceeds of insurance covering the lives of key employees on which the Borrower is beneficiary,
rights to receive dividends, distributions, cash, Instruments and other property in respect of or in exchange for pledged equity interests or Investment Property and any letter of credit, guarantee, claim, security interest or other security held by
or granted to the Borrower. 
  

 Annex A-15 

 “Goods” means all “goods” as defined in the UCC, now owned or
hereafter acquired by Borrower, wherever located, including embedded software to the extent included in “goods” as defined in the UCC, manufactured homes, standing timber that is cut and removed for sale and unborn young of animals.

 “Governmental Authority” means any nation or government, any state or other political subdivision
thereof, any central bank (or similar monetary or regulatory authority) thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned
or controlled, through stock or capital ownership or otherwise, by any of the foregoing. 
 “Guaranty”
means, with respect to any Person, all obligations of such Person which in any manner directly or indirectly guarantee or assure, or in effect guarantee or assure, the payment or performance of any indebtedness, dividend or other obligations of any
other Person (the “guaranteed obligations”), or assure or in effect assure the holder of the guaranteed obligations against loss in respect thereof, including any such obligations incurred through an agreement, contingent or otherwise:
(a) to purchase the guaranteed obligations or any property constituting security therefor; (b) to advance or supply funds for the purchase or payment of the guaranteed obligations or to maintain a working capital or other balance sheet
condition; or (c) to lease property or to purchase any debt or equity securities or other property or services. 
 “Guaranty Agreement” means that certain Guaranty, dated as of the date hereof, by and among each of the Pledged Entities and Agent for the benefit of Agent and other Lenders. 
 “Hedge Agreement” means any and all transactions, agreements or documents now existing or hereafter entered into, which
provides for an interest rate, credit, commodity (including, without limitation, oil and natural gas) or equity swap, cap, floor, collar, forward foreign exchange transaction, currency swap, cross currency rate swap, currency option, or any
combination of, or option with respect to, these or similar transactions, for the purpose of hedging the Borrower’s exposure to fluctuations in interest or exchange rates, loan, credit exchange, security or currency valuations or commodity
prices. 
 “Inactive Subsidiaries” means any Subsidiary of Borrower incorporated within the United States
excluding Muraspec N.A. LLC, a Delaware limited liability company and RohmNova LLC, a Delaware limited liability company, and Muraspec N.A. of Canada Ltd., a Delaware corporation. 
 “Increased Commitment Agreement” has the meaning specified in Section 1.3(j). 
 “Increased Commitment Proposal” has the meaning specified in Section 1.3(j). 
 “Indenture” means the Indenture, dated as of May 28, 2003, between OMNOVA Solutions Inc., as Issuer, and The Bank
of New York, as Trustee. 
 “Instruments” means all instruments as such term is defined in the UCC, now
owned or hereafter acquired by the Borrower. 
  

 Annex A-16 

 “Intercreditor Agreement” means the Intercreditor Agreement of even date
herewith by and among Agent, Deutsche Bank Trust Company Americas, as collateral agent under the Term Loan Agreement and Borrower. 
 “Interest Expense” means, for purposes of clause (v) of Section 7.13 only, for any period, the total consolidated interest expense of Borrower and its Subsidiaries for such period (whether paid or
accrued, and calculated without regard to any limitations on the payment thereof) plus, without duplication, that portion of Capital Lease obligations of the Borrower and its Subsidiaries representing the interest factor for such period; provided
that any deferred financing fees to the extent otherwise included in the total consolidated interest expense of the Borrower and its Subsidiaries shall be excluded therefrom. 
 “Interest Period” means, as to any Eurodollar Revolving Loan, the period commencing on the Funding Date of such Loan or on the Continuation/Conversion Date on which the Loan is
converted into or continued as a Eurodollar Revolving Loan, and ending on the date one, two, three or six months thereafter as selected by the Borrower in its Notice of Borrowing, in the form attached hereto as Exhibit D, or Notice of
Continuation/Conversion, in the form attached hereto as Exhibit E, provided that: 
 (a)    if any Interest Period would otherwise end on a day that is not a Business Day, that Interest Period shall be extended to the following 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 preceding Business Day; 
 (b)    any Interest Period pertaining to a Eurodollar Revolving Loan that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the
calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 
 (c)    no Interest Period shall extend beyond the Stated Termination Date. 
 “Interest Rate” means each or any of the interest rates, including the Default Rate, set forth in Section 2.1. 
 “Inventory” means all of the Borrower’s now owned and hereafter acquired inventory, goods and merchandise, wherever located, to be furnished under any contract of service or
held for sale or lease, all returned goods, raw materials, work-in-process, finished goods (including embedded software), other materials and supplies of any kind, nature or description which are used or consumed in the Borrower’s business or
used in connection with the packing, shipping, advertising, selling or finishing of such goods, merchandise, and all documents of title or other Documents representing them. 
 “Investment Property” means all of the Borrower’s right title and interest in and to any and all: (a) securities whether certificated or uncertificated;
(b) securities entitlements; (c) securities accounts; (d) commodity contracts; or (e) commodity accounts. 
  

 Annex A-17 

 “IRS” means the Internal Revenue Service and any Governmental Authority
succeeding to any of its principal functions under the Code. 
 “Latest Projections” means: (a) on the
Closing Date and thereafter until the Agent receives new projections pursuant to Section 5.2(e), the projections of the Borrower’s financial condition, results of operations, and cash flows, for the period commencing on
December 1, 2006 and ending on November 30, 2007 and delivered to the Agent prior to the Closing Date; and (b) thereafter, the projections most recently received by the Agent pursuant to Section 5.2(f). 
 “Lender” and “Lenders” have the meanings specified in the introductory paragraph hereof and shall
include the Agent to the extent of any Agent Advance outstanding and the Bank to the extent of any Swing Line Loan outstanding; provided that no such Agent Advance or Swing Line Loan shall be taken into account in determining any
Lender’s Pro Rata Share. 
 “Letter of Credit” has the meaning specified in Section l.3(a).

 “Letter of Credit Fee” has the meaning specified in Section 2.6. 
 “Letter of Credit Issuer” means the Bank, any affiliate of the Bank or, at the Bank’s discretion, any other
financial institution that issues any Letter of Credit pursuant to this Agreement. 
 “Letter-of-Credit
Rights” means “letter-of-credit rights” as such term is defined in the UCC, now owned or hereafter acquired by Borrower, including rights to payment or performance under a letter of credit, whether or not Borrower, as beneficiary,
has demanded or is entitled to demand payment or performance. 
 “Letter of Credit Subfacility” means
$15,000,000. 
 “Lien” means: (a) any interest in property securing an obligation owed to, or a claim
by, a Person other than the owner of the property, whether such interest is based on the common law, statute, or contract, and including a security interest, charge, claim, or lien arising from a mortgage, deed of trust, encumbrance, pledge,
hypothecation, assignment, deposit arrangement, agreement, security agreement, conditional sale or trust receipt or a lease, consignment or bailment for security purposes; (b) to the extent not included under clause (a), any reservation,
exception, encroachment, easement, right-of-way, covenant, condition, restriction, lease or other title exception or encumbrance affecting property; and (c) any contingent or other agreement to provide any of the foregoing. 
 “Loan Account” means the loan account of the Borrower, which account shall be maintained by the Agent. 
 “Loan Documents” means this Agreement, the Notes, the Patent and Trademark Security Agreements, the Security Agreement,
the Guaranty Agreement, the Bank Products, the Pledge Agreements, the Intercreditor Agreement and any other agreements, instruments, and documents heretofore, now or hereafter evidencing, securing, guaranteeing or otherwise relating 

  

 Annex A-18 

 
to the Obligations, the Collateral, or any other aspect of the transactions contemplated by this Agreement, in each case as amended, restated or otherwise
modified from time to time. The term “Loan Documents” shall also include all Hedge Agreements which have been approved by the Agent in writing. 
 “Loans” means, collectively, all loans and advances provided for in Article 1. 
 “Margin Stock” means “margin stock” as such term is defined in Regulation T, U or X of the Federal Reserve Board. 
 “Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business, condition (financial or otherwise) of the
Borrower, the Collateral or any guarantor of the Obligations; (b) a material impairment of the ability of the Borrower or any Affiliate of Borrower to perform under any Loan Document to which it is a party; or (c) a material adverse effect
upon the legality, validity, binding effect or enforceability against the Borrower of any Loan Document to which it is a party. 
 “Maximum Inventory Loan Amount” means (a) with respect to Inventory from Borrower’s performance chemical division, an amount not to exceed $20,000,000 and (b) with respect to Inventory from Borrower’s
decorative products and building products divisions, an amount not to exceed $16,000,000. 
 “Maximum Rate”
has the meaning specified in Section 2.3. 
 “Maximum Revolver Amount” means $80,000,000, as may
be increased from time to time in accordance with provisions of Section 1.2(j). 
 “Multiemployer
Plan” means a “multiemployer plan” as defined in Sections 3(37) or 4001(a)(3) of ERISA which is or was at any time during the current year or the immediately preceding six (6) years contributed to by the Borrower or any ERISA
Affiliate. 
 “Net Amount of Eligible Accounts” means, at any time, the gross amount of Eligible Accounts
less sales, excise or similar taxes, and less returns, discounts, claims, credits, allowances, accrued rebates, offsets, deductions, counterclaims, disputes and other defenses of any nature at any time issued, owing, granted, outstanding, available
or claimed. 
 “Net Orderly Liquidation Value” means, with respect to Inventory, the estimated net recovery
value as determined by Agent in good faith based on the most recent Appraisal, which reflects the estimated net cash value expected by the appraiser to be derived from a sale or disposition at a liquidation or going-out-of-business sale of such
Inventory after deducting all costs, expenses and fees attributable to such sale or disposition, including, without limitation, all fees, costs and expenses of any liquidator(s) engaged to conduct such sale or disposition and all costs and expenses
of removing and delivering the same to a purchaser. 
 “Net Orderly Liquidation Value Factor” means the
ratio of the Net Orderly Liquidation Value to the book value of Inventory, expressed as a percentage. The Net Orderly Liquidation Value Factor shall be determined as of the Closing Date based on the Appraisal 

  

 Annex A-19 

 
delivered prior to the Closing Date and shall be updated pursuant to Appraisals delivered under Section 5.4. 
 “Net Proceeds” has the meaning specified in Section 3.3(a). 
 “Notes” means Revolving Loan Notes and the Swing Line Notes. 
 “Notice of Borrowing” has the meaning specified in Section 1.2(b). 
 “Notice of Continuation/Conversion” has the meaning specified in Section 2.2(b). 
 “Obligations” means all present and future loans, advances, liabilities, obligations, covenants, duties, and debts owing
by the Borrower to the Agent and/or any Lender, arising under or pursuant to this Agreement, the Prior Credit Agreement or any of the other Loan Documents, whether or not evidenced by any note, or other instrument or document, whether arising from
an extension of credit, opening of a letter of credit, acceptance, loan, guaranty, indemnification or otherwise, whether direct or indirect, absolute or contingent, due or to become due, primary or secondary, as principal or guarantor, and including
all principal, interest, charges, expenses, fees, attorneys’ fees, filing fees and any other sums chargeable to the Borrower hereunder or under any of the other Loan Documents. “Obligations” includes, without limitation, (a) all
debts, liabilities, and obligations now or hereafter arising from or in connection with the Letters of Credit and (b) all debts, liabilities and obligations now or hereafter arising from or in connection with Bank Products and any Hedge
Agreements which have been approved by the Agent in writing. 
 “Other Taxes” means any present or future
stamp or documentary taxes or any other excise or property taxes, charges or similar levies which arise from any payment made hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Agreement or any other
Loan Documents. 
 “Participant” means any Person who shall have been granted the right by any Lender to
participate in the financing provided by such Lender under this Agreement, and who shall have entered into a participation agreement in form and substance satisfactory to such Lender. 
 “Patent and Trademark Agreements” means the Patent Security Agreement and the Trademark Security Agreement, each dated
as of May 28, 2003, executed and delivered by the Borrower to the Agent to evidence and perfect the Agent’s security interest in the Borrower’s present and future patents, trademarks, and related licenses and rights, for the benefit
of the Agent and the Lenders. 
 “Payment Account” means each bank account established pursuant to the
Security Agreement, to which the proceeds of Accounts and other Collateral are deposited or credited, and which is maintained in the name of the Agent or the Borrower, as the Agent may determine, on terms acceptable to the Agent. 
 “PBGC” means the Pension Benefit Guaranty Corporation or any Governmental Authority succeeding to the functions thereof.

  

 Annex A-20 

 “Pending Revolving Loans” means, at any time, the aggregate principal
amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced. 
 “Pension Plan” means a Plan that is also a pension plan (as defined in Section 3(2) of ERISA) subject to Title IV of ERISA which the Borrower or any ERISA Affiliate sponsors, maintains, or to which it makes, is making,
or is obligated to make contributions, or in the case of a Multi-employer Plan has made contributions at any time during the immediately preceding five (5) plan years. 
 “Permitted Acquisition” means an acquisition by Borrower of all or substantially all the assets, or more than 50% of the equity securities, of a Person (the “Target”),
in each case subject to the satisfaction of the following conditions: 
 (i)    Agent shall receive at
least thirty (30) Business Days’ prior written notice of such proposed Permitted Acquisition, which notice shall include a reasonably detailed description of such proposed Permitted Acquisition; 
 (ii)    consideration provided by the Borrower for such Permitted Acquisition shall consist solely of (A) equity
in Borrower (or proceeds from equity issued by Borrower), (B) proceeds of Debt issued pursuant to the last sentence of Section 7.13, (C) proceeds from asset sales or issuances of equity to the extent expressly permitted under
Section 3.3(a) of the Agreement, (D) Revolving Loans and/or (E) the proceeds from the Term Loan Agreement (including proceeds from any refinancing of the Term Loan Agreement permitted under Section 7.13 of the
Agreement); 
 (iii)    such Permitted Acquisition shall only involve assets located in the United States
and comprising a business, or those assets of a business, of the type engaged in by Borrower as of the Closing Date, and which business would not subject Agent or any Lender to regulatory or third party approvals in connection with the exercise of
its rights and remedies under this Agreement or any other Loan Documents other than approvals applicable to the exercise of such rights and remedies with respect to Borrower prior to such Permitted Acquisition; 
 (iv)    such Permitted Acquisition shall be consensual and shall have been approved by the Target’s board of
directors; 
 (v)    no additional Debt shall be incurred, assumed or otherwise be reflected on a
consolidated balance sheet of Borrower and Target after giving effect to such Permitted Acquisition, except ordinary course trade payables, accrued expenses and unsecured Debt of the Target; 
 (vi)    the Target must have operating income (or loss) plus depreciation and amortization greater than $0 for the
trailing twelve-month period preceding the date of the Permitted Acquisition, as determined based upon the Target’s financial statements for its most recently completed fiscal year and its most recent interim financial period completed within
sixty (60) days prior to the date of consummation of such Permitted Acquisition; 
  

 Annex A-21 

 (vii)    the business and assets acquired in such Permitted
Acquisition shall be free and clear of all Liens (other than Permitted Liens); 
 (viii)    at or prior
to the closing of any Permitted Acquisition, Agent will be granted a first priority perfected Lien (subject to Permitted Liens and the terms of the Intercreditor Agreement) in all assets acquired pursuant thereto (or in the assets and Stock of the
Target), and Borrower and the Target shall have executed such documents (including, without limitation, guarantees, security agreements and pledge agreements) and taken such actions as may be required by Agent in connection therewith; 
 (ix)    Concurrently with delivery of the notice referred to in clause (i) above, Borrower shall have
delivered to Agent, in form and substance reasonably satisfactory to Agent: 
 (A)    a
pro forma consolidated balance sheet, income statement and cash flow statement of Borrower and its Subsidiaries (the “Acquisition Pro Forma”), based on recent financial statements, which shall be complete and shall fairly present in
all material respects the assets, liabilities, financial condition and results of operations of Borrower and its Subsidiaries in accordance with GAAP consistently applied, but taking into account such Permitted Acquisition and the funding of all
Debt in connection therewith; 
 (B)    updated versions of the most recently delivered
projections covering the 1-year period commencing on the date of such Permitted Acquisition and otherwise prepared in accordance with the projections delivered prior to the Closing Date (the “Acquisition Projections”) and based upon
historical financial data of a recent date reasonably satisfactory to Agent, taking into account such Permitted Acquisition; and 
 (C)    a certificate of the chief financial officer of Borrower to the effect that: (u) the Target is Solvent at the time of such Permitted Acquisition and the Borrower and its Subsidiaries,
on a consolidated basis after giving effect to such Permitted Acquisition, are Solvent, (v) the representations and warranties contained in this Agreement are correct in all material respects after giving effect to such Permitted Acquisition
and (w) Borrower (after taking into consideration all rights of contribution and indemnity such Borrower has against each Subsidiary) will be Solvent upon the consummation of the Permitted Acquisition; (x) the Acquisition Pro Forma fairly
presents the financial condition of Borrower (on a consolidated basis) as of the date thereof after giving effect to the Permitted Acquisition; (y) the Acquisition Projections are reasonable estimates of the future financial performance of
Borrower subsequent to the date thereof based upon the historical performance of Borrower and the Target and show that Borrower shall continue to be in compliance with the financial covenant set forth in Section 7.23 for the 3-year
period thereafter; and (z) Borrower has completed its due diligence investigation with respect to the Target and such Permitted Acquisition, which investigation was conducted in a manner similar to that which would have been conducted by a
prudent purchaser of a comparable business and the results of which investigation were delivered to Agent and Lenders; 
  

 Annex A-22 

 (x)    on or prior to the date of such Permitted Acquisition, Agent
shall have received, in form and substance reasonably satisfactory to Agent, copies of the acquisition agreement and related agreements and instruments, and all opinions, certificates, lien search results and other documents reasonably requested by
Agent; 
 (xi)    at the time of such Permitted Acquisition and after giving effect thereto, no Default
or Event of Default shall have occurred and be continuing; 
 (xii)    Borrower’s Availability at
the time of and immediately after giving effect to the consummation of such Permitted Acquisition is equal to at least $25,000,000; 
 (xiii)    the Fixed Charge Coverage Ratio (on a pro forma basis giving effect to such Permitted Acquisition) is at least 1.2:1.0 for the 3 month and 12 month periods ending on the effective date of such Permitted
Acquisition (provided, that to the extent such 3 month period includes any of the months of November, December, January or February, such 3 month period shall be increased to a 6 month period ending on the effective date of such Permitted
Acquisition); and 
 (xiv)    the Acquisition Projections (defined above) shall reflect that the Fixed
Charge Coverage Ratio will be at least 1.2:1.0 for each 12 month period ending each month after the effective date of such Permitted Acquisition through the first anniversary of such effective date. 
 Notwithstanding the foregoing, the Accounts and Inventory of the Target shall not be included in Eligible Accounts and Eligible Inventory
without the prior written consent of Agent and Required Lenders. 
 “Permitted Liens” means: 
 (a)    Liens for taxes not delinquent or statutory Liens for taxes in an amount not to exceed $100,000 provided that
the payment of such taxes which are due and payable is being contested in good faith and by appropriate proceedings diligently pursued and as to which adequate financial reserves have been established on Borrower’s books and records and a stay
of enforcement of any such Lien is in effect; 
 (b)    the Agent’s Liens; 
 (c)    Liens consisting of deposits made in the ordinary course of business in connection with, or to secure payment
of, obligations under worker’s compensation, unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or contracts (other than for the repayment of Debt) or to secure indemnity, performance
or other similar bonds for the performance of bids, tenders or contracts (other than for the repayment of Debt) or to secure statutory obligations (other than liens arising under ERISA or Environmental Liens) or surety or appeal bonds, or to secure
indemnity, performance or other similar bonds; 
 (d)    Liens securing the claims or demands of
materialmen, mechanics, carriers, warehousemen, landlords and other like Persons, provided that if any such Lien arises from the 

  

 Annex A-23 

 
nonpayment of such claims or demand when due, such claims or demands do not exceed $100,000 in the aggregate; 
 (e)    Liens constituting encumbrances in the nature of reservations, exceptions, encroachments, easements, rights of
way, covenants running with the land, and other similar title exceptions or encumbrances affecting any Real Estate; provided that they do not in the aggregate materially detract from the value of the Real Estate or materially interfere with
its use in the ordinary conduct of the Borrower’s business; 
 (f)    Liens arising from judgments
and attachments in connection with court proceedings provided that the attachment or enforcement of such Liens would not result in an Event of Default hereunder and such Liens are being contested in good faith by appropriate proceedings, adequate
reserves have been set aside and no material property is subject to a material risk of loss or forfeiture and the claims in respect of such Liens are fully covered by insurance (subject to ordinary and customary deductibles) and a stay of execution
pending appeal or proceeding for review is in effect; and 
 (g)    Liens securing the Term Loan
Agreement subject to the priority terms set forth in the Intercreditor Agreement. 
 “Person” means any
individual, sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated organization, association, corporation, Governmental Authority, or any other entity. 
 “Plan” means an employee benefit plan (as defined in Section 3(3) of ERISA) which the Borrower or ERISA Affiliate
sponsors or maintains or to which the Borrower makes, is making, or is obligated to make contributions. 
 “Pledge
Agreement” means the Amended and Restated Pledge Agreement dated as of May 22, 2007 between Borrower and Agent for the benefit of Agent and other Lenders. 
 “Pledged Entities” means Decorative Products Thailand, Inc., an Ohio corporation and OMNOVA Wallcovering (USA), Inc., an Ohio corporation. 
 “Prime Rate” means a rate per annum equal to the prime rate of interest announced from time to time by the Bank or its
parent (which is not necessarily the lowest rate charged to any customer), changing when and as said prime rate changes. 
 “Proprietary Rights” means all of the Borrower’s now owned and hereafter arising or acquired: registered patents, patent applications, registered copyrights, copyright applications, registered trademarks, trademark
applications, and all licenses and rights related to any of the foregoing or to any technology or know-how, including, without limitation, those patents, trademarks, and copyrights set forth on Schedule 6.12 hereto, and all other rights under
any of the foregoing, all extensions, renewals, reissues, divisions, continuations, and continuations-in-part of any of the foregoing, and all rights to sue for past, present and future infringement of any of the foregoing. 
  

 Annex A-24 

 “Pro Rata Share” means, with respect to a Lender, a fraction (expressed
as a percentage), the numerator of which is the amount of such Lender’s Commitment and the denominator of which is the sum of the amounts of all of the Lenders’ Commitments, or if no Commitments are outstanding, a fraction (expressed as a
percentage), the numerator of which is the amount of Obligations owed to such Lender and the denominator of which is the aggregate amount of the Obligations owed to the Lenders, in each case giving effect to a Lender’s participation in Swing
Line Loans and Agent Advances. 
 “Real Estate” means all of the Borrower’s now or hereafter owned or
leased estates in real property, including, without limitation, all fees, leaseholds and future interests, together with all of the Borrower’s now or hereafter owned or leased interests in the improvements thereon, the fixtures attached thereto
and the easements appurtenant thereto. 
 “Registration Rights Agreement” means that certain Registration
Rights Agreement dated as of May 28, 2003 among Borrower, Deutsche Bank Securities Inc., Banc One Capital Markets, Inc. and McDonald Investments Inc. 
 “Release” means a release, spill, emission, leaking, pumping, injection, deposit, disposal, discharge, dispersal, leaching or migration of a Contaminant into the indoor or outdoor environment or into
or out of any Real Estate or other property, including the movement of Contaminants through or in the air, soil, surface water, groundwater or Real Estate or other property. 
 “Reportable Event” means, any of the events set forth in Section 4043(b) of ERISA or the regulations thereunder, other than any such event for which the 30-day notice
requirement under ERISA has been waived in regulations issued by the PBGC. 
 “Required Lenders” means at
any time Lenders whose Pro Rata Shares aggregate more than 66-2/3%. 
 “Requirement of Law” means, as to any
Person, any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or of a Governmental Authority, in each case applicable to or binding upon the Person or any of its property or to which the Person or any of its
property is subject. 
 “Reserves” means reserves that limit the availability of credit hereunder,
consisting of reserves against Availability established by Agent from time to time in Agent’s reasonable credit judgment. Without limiting the generality of the foregoing, the following reserves shall be deemed to be a reasonable exercise of
Agent’s credit judgment: (a) Bank Product Reserves, (b) a reserve for accrued, unpaid interest on the Obligations, (c) reserves for rent at leased locations subject to statutory or contractual landlord liens, (d) Inventory
shrinkage, (e) Environmental Compliance Reserves, (f) customs charges, (g) dilution, (h) warehousemen’s or bailees’ charges and (i) reserves established pursuant to Section 7.10. 
 “Responsible Officer” means the chief executive officer or the president of the Borrower, or any other officer having
substantially the same authority and responsibility; or, with respect to compliance with financial covenants and the preparation of the Borrowing Base 

  

 Annex A-25 

 
Certificate, the chief financial officer or the treasurer of the Borrower, or any other officer having substantially the same authority and responsibility.

 “Restricted Investment” means, as to the Borrower, any acquisition of property by the Borrower in
exchange for cash or other property, whether in the form of an acquisition of stock, debt, or other indebtedness or obligation, or the purchase or acquisition of any other property, or a loan, advance, capital contribution, or subscription, except
the following: (a) acquisitions of Equipment to be used in the business of the Borrower so long as the acquisition costs thereof constitute Capital Expenditures permitted hereunder; (b) acquisitions of Inventory in the ordinary course of
business of the Borrower; (c) acquisitions of current assets acquired in the ordinary course of business of the Borrower; (d) direct obligations of the United States of America, or any agency thereof, or obligations guaranteed by the
United States of America, provided that such obligations mature within one year from the date of acquisition thereof; (e) acquisitions of certificates of deposit maturing within one year from the date of acquisition, bankers’
acceptances, Eurodollar bank deposits, or overnight bank deposits, in each case issued by, created by, or with a bank or trust company organized under the laws of the United States of America or any state thereof having capital and surplus
aggregating at least $100,000,000; (f) acquisitions of commercial paper given a rating of “A2” or better by Standard & Poor’s Corporation or “P2” or better by Moody’s Investors Service, Inc. and maturing
not more than 90 days from the date of creation thereof; (g) Hedge Agreements which have been approved by the Agent in writing; (h) Permitted Acquisitions; and (i) employee loans and advances not to exceed $2,000,000 at any time
outstanding. 
 “Revolving Loans” has the meaning specified in Section 1.2 and includes each
Agent Advance and Swing Line Loan. 
 “Revolving Loan Note” and “Revolving Loan Notes” have
the meanings specified in Section 1.2(a)(ii). 
 “Security Agreement” means the Amended and
Restated Security Agreement dated as of the date hereof among Borrower and Agent for the benefit of Agent and other Lenders. 
 “Senior Notes” means the Senior Secured Notes and the
“Exchange Notes” and the “Private Exchange Notes” (each as defined in the Registration Rights Agreement), maturing on June 1, 2010, bearing interest at 11 1/4 % per annum, in the aggregate principal amount not to exceed $165,000,000. 
 “Senior Note Documents” means the Indenture, the Registration Rights Agreement and all other agreements and instruments evidencing or governing the terms of the Senior Notes.

 “Settlement” and “Settlement Date” have the meanings specified in Section 12.15(a)(ii).

 “Software” means all “software” as such term is defined in the UCC, now owned or hereafter
acquired by the Borrower, other than software embedded in any category of Goods, 

  

 Annex A-26 

 
including all computer programs and all supporting information provided in connection with a transaction related to any program. 
 “Solvent” means, when used with respect to any Person, that at the time of determination: 
 (a)    the assets of such Person, at a fair valuation, are in excess of the total amount of its debts
(including contingent liabilities); and 
 (b)    the present fair saleable value of its
assets is greater than its probable liability on its existing debts as such debts become absolute and matured; and 
 (c)    it is then able and expects to be able to pay its debts (including contingent debts and other commitments) as they mature; and 
 (d)    it has capital sufficient to carry on its business as conducted and as proposed to be
conducted. 
 For purposes of determining whether a Person is Solvent, the amount of any contingent liability shall be
computed as the amount that, in light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 
 “Stated Termination Date” means May 22, 2012. 
 “Subsidiary” of a Person means any corporation, association, partnership, limited liability company, joint venture or
other business entity of which more than fifty percent (50%) of the voting stock or other equity interests (in the case of Persons other than corporations), is owned or controlled directly or indirectly by the Person, or one or more of the
Subsidiaries of the Person, or a combination thereof. Unless the context otherwise clearly requires, references herein to a “Subsidiary” refer to a Subsidiary of the Borrower; provided, that except for Sections 5.3(e),
5.3(f), 5.3(g), 5.3(h), the first sentence of Section 6.5 and Section 6.15, 6.16, 6.21, 7.7, 7.11, 7.20 and 7.25, any reference to Subsidiary of the Borrower
shall exclude any Subsidiary incorporated outside the United States (except for such references set forth in Sections 5.2 and 6.6) and the following joint ventures of Borrower: CPPC-Decorative Products Company Limited, a Thailand limited
company, Decorative Products (Singapore) Pte. Ltd., a Singapore limited company, CG-Omnova Decorative Products (Shanghai) Co., a Chinese enterprise, RohmNova LLC, a Delaware limited liability company. 
 “Supporting Obligations” means all supporting obligations as such term is defined in the UCC, including letters of
credit and guaranties issued in support of Accounts, Chattel Paper, Documents, General Intangibles, Instruments, or Investment Property. 
 “Swing Line Commitment” has the meaning specified in Section 1.2(h), which commitment constitutes a subfacility of the Commitment for Revolving Loans of the Bank. 
 “Swing Line Loan” has the meaning specified in Section 1.2(h). 
  

 Annex A-27 

 “Swing Line Note” has the meaning specified in
Section 1.2(h). 
 “Target” has the meaning set forth in the definition of “Permitted
Acquisition”. 
 “Taxes” means any and all present or future taxes, levies, imposts, deductions,
charges or withholdings, and all liabilities with respect thereto, excluding, in the case of each Lender and the Agent, such taxes (including income taxes or franchise taxes) as are imposed on or measured by the Agent’s or each Lender’s
net income in any the jurisdiction (whether federal, state or local and including any political subdivision thereof) under the laws of which such Lender or the Agent, as the case may be, is organized or maintains a lending office. 
 “Termination Date” means the earliest to occur of (i) the Stated Termination Date, (ii) the date the Total
Facility is terminated either by the Borrower pursuant to Section 3.2 or by the Required Lenders pursuant to Section 9.2, and (iii) the date this Agreement is otherwise terminated for any reason whatsoever pursuant to
the terms of this Agreement. 
 “Term Loan Agreement” means that certain Term Loan Agreement, dated as of
the date hereof, by and among Borrower, Deutsche Bank Trust Company Americas, as agent and the lenders party thereto pursuant to which such lenders extended to Borrower a term loan facility in the aggregate principal amount not to exceed
$150,000,000 as such amount may be increased as permitted under Section 7.13 hereof (as amended, restated, supplemented, modified, replaced or refinanced from time to time as permitted by the Intercreditor Agreement). 
 “Term Loan Documents” means the Term Loan Agreement, the Loan Documents (as defined in the Term Loan Agreement) and each
of the other agreements, documents and instruments executed and/or delivered in connection therewith (as each may be amended, restated, supplemented, modified, renewed or extended from time to time in accordance with the provisions of the
Intercreditor Agreement). 
 “Total Facility” has the meaning specified in Section 1.1.

 “UCC” means the Uniform Commercial Code, as in effect from time to time, of the State of Illinois or of
any other state the laws of which are required as a result thereof to be applied in connection with the issue of perfection of security interests; provided, that to the extent that the UCC is used to define any term herein or in any other
documents and such term is defined differently in different Articles or Divisions of the UCC, the definition of such term contained in Article or Division 9 shall govern. 
 “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities (within the meaning of Code § 412, over the current value of that Pension
Plan’s assets allocable to such benefit liability, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. 
 “Unused Letter of Credit Subfacility” means an amount equal to $15,000,000 minus the sum of (a) the
aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit. 
  

 Annex A-28 

 “Unused Line Fee” has the meaning specified in Section 2.5.

 Accounting Terms. Any accounting term used in the Agreement shall have, unless otherwise specifically provided
herein, the meaning customarily given in accordance with GAAP, and all financial computations in the Agreement shall be computed, unless otherwise specifically provided therein, in accordance with GAAP as consistently applied and using the same
method for inventory valuation as used in the preparation of the Financial Statements. 
 Interpretive Provisions.
(a) The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms. 
 (b)    The words “hereof,” “herein,” “hereunder” and similar words refer to the Agreement as a whole and not to any particular provision of the Agreement; and Subsection, Section, Schedule
and Exhibit references are to the Agreement unless otherwise specified. 
 (c)    (i)     The term “documents” includes any and all instruments, documents, agreements, certificates, indentures, notices and other writings, however evidenced. 
 (ii)    The term “including” is not limiting and means “including without
limitation.” 
 (iii)    In the computation of periods of time from a specified date
to a later specified date, the word “from” means “from and including,” the words “to” and “until” each mean “to but excluding” and the word “through” means “to and including.”

 (iv)    The word “or” is not exclusive. 
 (d)    Unless otherwise expressly provided herein, (i) references to agreements (including the Agreement) and
other contractual instruments shall be deemed to include all subsequent amendments and other modifications thereto, but only to the extent such amendments and other modifications are not prohibited by the terms of any Loan Document, and
(ii) references to any statute or regulation are to be construed as including all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting the statute or regulation. 
 (e)    The captions and headings of the Agreement and other Loan Documents are for convenience of reference only and
shall not affect the interpretation of the Agreement. 
 (f)    The Agreement and other Loan Documents
may use several different limitations, tests or measurements to regulate the same or similar matters. All such limitations, tests and measurements are cumulative and shall each be performed in accordance with their terms. 
 (g)    For purposes of Section 9.1, a breach of a financial covenant contained in Section 7.23 shall
be deemed to have occurred as of any date of determination thereof by the Agent or as of the last day of any specified measuring period, regardless of when the Financial Statements reflecting such breach are delivered to the Agent. 
  

 Annex A-29 

 (h)    The Agreement and the other Loan Documents are the result of
negotiations among and have been reviewed by counsel to the Agent, the Borrower and the other parties, and are the products of all parties. Accordingly, they shall not be construed against the Lenders or the Agent merely because of the Agent’s
or Lenders’ involvement in their preparation. 
  

 Annex A-30 

 EXHIBIT A-1 
 FORM OF REVOLVING LOAN NOTE 
  

 Exhibit A-1-1 

 EXHIBIT A-2 
 FORM OF SWING LINE NOTE 
  

 Exhibit A-2-1 

 EXHIBIT B 
 FORM OF BORROWING BASE CERTIFICATE 
  

 Exhibit B-1 

 EXHIBIT C 
 FINANCIAL STATEMENTS 
  

 Exhibit C-1 

 EXHIBIT D 
 NOTICE OF BORROWING 
 Date: ____________, 200__ 
  

	 To:
	 JPMorgan Chase Bank, N.A. as Agent for the Lenders who are parties to the Amended and Restated Credit Agreement dated as of May 22, 2007 (as extended,
renewed, amended or restated from time to time, the “Credit Agreement”) among OMNOVA Solutions Inc., certain Lenders which are signatories thereto and JPMorgan Chase Bank, N.A., as Agent 

 Ladies and Gentlemen: 
 The
undersigned, OMNOVA Solutions Inc. (the “Borrower”), refers to the Credit Agreement, the terms defined therein being used herein as therein defined, and hereby gives you notice irrevocably of the Borrowing specified below:

 1. The Business Day of the proposed Borrowing is ________, 200_. 
 2. The aggregate amount of the proposed Borrowing is $            .

 3. The Borrowing is to be comprised of $_______ of Alternate Base Rate and $________ of Eurodollar Revolving Loans.

 4. The duration of the Interest Period for Eurodollar Revolving Loans, if any, included in the Borrowing shall be ________
months. 
 The undersigned hereby certifies that the following statements are true on the date hereof, and will be true on
the date of the proposed Borrowing, before and after giving effect thereto and to the application of the proceeds therefrom: 
 (a) The representations and warranties of the Borrower contained in the Credit Agreement are true and correct as though made on and as of such date; 
 (b) No Default or Event of Default has occurred and is continuing, or would result from such proposed Borrowing; 
 (c) No event has occurred and is continuing, or would result from such extension of credit, which has had or would have a Material Adverse Effect; and 
  

 Exhibit D-1 

 (d)     The proposed Borrowing will not cause the aggregate principal
amount of all outstanding Revolving Loans [plus the aggregate amount available for drawing under all outstanding Letters of Credit], to exceed the Borrowing Base or the combined Commitments of the Lenders. 
  

			
	 OMNOVA SOLUTIONS INC.

		
	 By:
	 	  
		
	 Title:
	 	  

  

 Exhibit D-2 

 EXHIBIT E 
 NOTICE OF CONTINUATION/CONVERSION 
 Date: __________, 200_ 
  

	 To:
	 JPMorgan Chase Bank, N.A. as Agent for the Lenders to the Amended and Restated Credit Agreement dated as of May 22, 2007 (as extended, renewed, amended or
restated from time to time, the “Credit Agreement”) among OMNOVA Solutions Inc., certain Lenders which are signatories thereto and JPMorgan Chase Bank, N.A., as Agent 

 Ladies and Gentlemen: 
 The
undersigned, OMNOVA Solutions Inc. (the “Borrower”), refers to the Credit Agreement, the terms defined therein being used herein as therein defined, and hereby gives you notice irrevocably of the [conversion] [continuation] of the
Loans specified herein, that: 
 1. The Continuation/Conversion Date is ______, 200_. 
 2. The aggregate amount of the Loans to be [converted] [continued] is
$            . 
 3. The Loans are to be [converted into]
[continued as] [Eurodollar Rate] [Alternate Base Rate] Loans. 
 4. The duration of the Interest Period for the Eurodollar
Revolving Loans included in the [conversion] [continuation] shall be months. 
 The undersigned hereby certifies that the
following statements are true on the date hereof, and will be true on the proposed Continuation/Conversion Date, before and after giving effect thereto and to the application of the proceeds therefrom: 
 (a) The representations and warranties of the Borrower contained in the Credit Agreement are true and correct as though
made on and as of such date; 
 (b) Default or Event of Default has occurred and is continuing, or would
result from such proposed [conversion] [continuation]; and 
  

 Exhibit E-1 

 (c)     The proposed conversion-continuation will not
cause the aggregate principal amount of all outstanding Revolving Loans [plus the aggregate amount available for drawing under all outstanding Letters of Credit] to exceed the Borrowing Base or the combined Commitments of the Lenders.

  

			
	 OMNOVA SOLUTIONS INC.

		
	 By:
	 	  
		
	 Title:
	 	  

  

 Exhibit E-2 

 EXHIBIT F 
 [FORM OF] ASSIGNMENT AND ACCEPTANCE AGREEMENT 
 This ASSIGNMENT AND ACCEPTANCE
AGREEMENT (this “Assignment and Acceptance”) dated as of ________________, 200_ is made between _______________________________ (the “Assignor”) and _______________________________ (the “Assignee”).

 RECITALS 
 WHEREAS, the Assignor is party to that certain the Amended and Restated Credit Agreement dated as of May 22, 2007 (as amended, amended and restated, modified, supplemented or renewed, the “Credit Agreement”) among
OMNOVA Solutions Inc., an Ohio corporation (the “Borrower”), the several financial institutions from time to time party thereto (including the Assignor, the “Lenders”), and JPMorgan Chase Bank, N.A., as agent for
the Lenders (the “Agent”). Any terms defined in the Credit Agreement and not defined in this Assignment and Acceptance are used herein as defined in the Credit Agreement; 
 WHEREAS, as provided under the Credit Agreement, the Assignor has committed to making Loans (the “Committed Loans”) to
the Borrower in an aggregate amount not to exceed $_____________ (the “Commitment”); 
 WHEREAS, the
Assignor has made Committed Loans in the aggregate principal amount of $_____________ to the Borrower 
 WHEREAS, [the
Assignor has acquired a participation in its pro rata share of the Lenders’ liabilities under Letters of Credit in an aggregate principal amount of $_____________ (the “L/C Obligations”)] [no Letters of Credit are outstanding
under the Credit Agreement]; and 
 WHEREAS, the Assignor wishes to assign to the Assignee [part of the] [all] rights and
obligations of the Assignor under the Credit Agreement in respect of its Commitment, together with a corresponding portion of each of its outstanding Committed Loans and L/C Obligations, in an amount equal to $___________ (the “Assigned
Amount”) on the terms and subject to the conditions set forth herein and the Assignee wishes to accept assignment of such rights and to assume such obligations from the Assignor on such terms and subject to such conditions; 
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, the parties hereto agree as follows:

 1.     Assignment and Acceptance. 
 (a)     Subject to the terms and conditions of this Assignment and Acceptance, (i) the Assignor hereby sells,
transfers and assigns to the Assignee, and (ii) the Assignee hereby purchases, assumes and undertakes from the Assignor, without recourse and without representation or warranty (except as provided in this Assignment and Acceptance) ___% (the
“Assignee’s Percentage Share”) of (A) the Commitment, the Committed Loans and the L/C 

  

 Exhibit F-1 

 
Obligations of the Assignor and (B) all related rights, benefits, obligations, liabilities and indemnities of the Assignor under and in connection with
the Credit Agreement and the Loan Documents. 
 (b)    With effect on and after the
Effective Date (as defined in Section 5 hereof), the Assignee shall be a party to the Credit Agreement and succeed to all of the rights and be obligated to perform all of the obligations of a Lender under the Credit Agreement, including the
requirements concerning confidentiality and the payment of indemnification, with a Commitment in an amount equal to the Assigned Amount. The Assignee agrees that it will perform in accordance with their terms all of the obligations which by the
terms of the Credit Agreement are required to be performed by it as a Lender. It is the intent of the parties hereto that the Commitment of the Assignor shall, as of the Effective Date, be reduced by an amount equal to the Assigned Amount and the
Assignor shall relinquish its rights and be released from its obligations under the Credit Agreement to the extent such obligations have been assumed by the Assignee; provided, however, the Assignor shall not relinquish its rights under Sections ___
and ___ of the Credit Agreement to the extent such rights relate to the time prior to the Effective Date. 
 (c)    After giving effect to the assignment and assumption set forth herein, on the Effective Date the Assignee’s Commitment will be $            .

 (d)    After giving effect to the assignment and assumption set forth herein, on the
Effective Date the Assignor’s Commitment will be $            . 
  

	 	 2.
	 Payments. 

 (a) As consideration for the sale, assignment and transfer contemplated in Section 1 hereof, the Assignee shall pay to the Assignor on the Effective Date in immediately available funds an amount equal to
$            , representing the Assignee’s Pro Rata Share of the principal amount of all Committed Loans. 
 (b) The Assignee further agrees to pay to the Agent a processing fee in the amount specified in Section 11.2(a) of
the Credit Agreement. 
  

	 	 3.
	 Reallocation of Payments. 

 Any interest, fees and other payments accrued to the Effective Date with respect to the Commitment, and Committed Loans and L/C Obligations shall be for the account of the Assignor. Any interest, fees and other
payments accrued on and after the Effective Date with respect to the Assigned Amount shall be for the account of the Assignee. Each of the Assignor and the Assignee agrees that it will hold in trust for the other party any interest, fees and other
amounts which it may receive to which the other party is entitled pursuant to the preceding sentence and pay to the other party any such amounts which it may receive promptly upon receipt. 
  

 Exhibit F-2 

	 	 4.
	 Independent Credit Decision. 

 The Assignee (a) acknowledges that it has received a copy of the Credit Agreement and the Schedules and Exhibits thereto, together with copies of the most recent financial statements of the Borrower, and such
other documents and information as it has deemed appropriate to make its own credit and legal analysis and decision to enter into this Assignment and Acceptance; and (b) agrees that it will, independently and without reliance upon the Assignor,
the 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 and legal decisions in taking or not taking action under the Credit Agreement. 
  

	 	 5.
	 Effective Date; Notices. 

 (a)    As between the Assignor and the Assignee, the effective date for this Assignment and Acceptance shall be ________, 200_ (the “Effective Date”); provided that the
following conditions precedent have been satisfied on or before the Effective Date: 
 (i)    this Assignment and Acceptance shall be executed and delivered by the Assignor and the Assignee; 
 [(ii)    the consent of the Agent required for an effective assignment of the Assigned Amount by the Assignor to the Assignee shall have been duly obtained and shall be in full force and effect as
of the Effective Date;] 
 (iii)    the Assignee shall pay to the Assignor all amounts
due to the Assignor under this Assignment and Acceptance; 
 [(iv)    the Assignee shall
have complied with Section 11.2 of the Credit Agreement (if applicable);] 
 (v)    the processing fee referred to in Section 2(b) hereof and in Section 11.2(a) of the Credit Agreement shall have been paid to the Agent; and 
 (b)    Promptly following the execution of this Assignment and Acceptance, the Assignor shall deliver to the Borrower
and the Agent for acknowledgment by the Agent, a Notice of Assignment in the form attached hereto as Schedule 1. 
  

	 	 6.
	 [Agent. [INCLUDE ONLY IF ASSIGNOR IS AGENT] 

 (a) The Assignee hereby appoints and authorizes the Assignor to take such action as agent on its behalf and to exercise such powers under the Credit Agreement as are delegated to the Agent by the
Lenders pursuant to the terms of the Credit Agreement. 
 (b) The Assignee shall assume no duties or obligations held by the
Assignor in its capacity as Agent under the Credit Agreement.] 
  

 Exhibit F-3 

	 	 7.
	 Withholding Tax. 

 The Assignee (a) represents and warrants to the Lender, the Agent and the Borrower that under applicable law and treaties no tax will be required to be withheld by the Lender with respect to any payments to be made to the Assignee
hereunder, (b) agrees to furnish (if it is organized under the laws of any jurisdiction other than the United States or any State thereof) to the Agent and the Borrower prior to the time that the Agent or Borrower is required to make any
payment of principal, interest or fees hereunder, duplicate executed originals of either U.S. Internal Revenue Service Form W-8ECI or U.S. Internal Revenue Service Form W-8BEN (wherein the Assignee claims entitlement to the benefits of a tax treaty
that provides for a complete exemption from U.S. federal income withholding tax on all payments hereunder) and agrees to provide new Forms W-8ECI or W-8BEN upon the expiration of any previously delivered form or comparable statements in accordance
with applicable U.S. law and regulations and amendments thereto, duly executed and completed by the Assignee, and (c) agrees to comply with all applicable U.S. laws and regulations with regard to such withholding tax exemption. 
  

	 	 8.
	 Representations and Warranties. 

 (a)    The Assignor represents and warrants that (i) it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any Lien or
other adverse claim; (ii) it is duly organized and existing and it has the full power and authority to take, and has taken, all action necessary to execute and deliver this Assignment and Acceptance and any other documents required or permitted
to be executed or delivered by it in connection with this Assignment and Acceptance and to fulfill its obligations hereunder; (iii) no notices to, or consents, authorizations or approvals of, any Person are required (other than any already
given or obtained) for its due execution, delivery and performance of this Assignment and Acceptance, and apart from any agreements or undertakings or filings required by the Credit Agreement, no further action by, or notice to, or filing with, any
Person is required of it for such execution, delivery or performance; and (iv) this Assignment and Acceptance has been duly executed and delivered by it and constitutes the legal, valid and binding obligation of the Assignor, enforceable
against the Assignor in accordance with the terms hereof, subject, as to enforcement, to bankruptcy, insolvency, moratorium, reorganization and other laws of general application relating to or affecting creditors’ rights and to general
equitable principles. 
 (b)    The Assignor makes no representation or warranty and assumes no
responsibility with respect to any statements, warranties or representations made in or in connection with the Credit Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any
other instrument or document furnished pursuant thereto. The Assignor makes no representation or warranty in connection with, and assumes no responsibility with respect to, the solvency, financial condition or statements of the Borrower, or the
performance or observance by the Borrower, of any of its respective obligations under the Credit Agreement or any other instrument or document furnished in connection therewith. 
 (c)    The Assignee represents and warrants that (i) it is duly organized and existing and it has full power and
authority to take, and has taken, all action necessary to execute and deliver this Assignment and Acceptance and any other documents required or permitted to 

  

 Exhibit F-4 

 
be executed or delivered by it in connection with this Assignment and Acceptance, and to fulfill its obligations hereunder; (ii) no notices to, or
consents, authorizations or approvals of, any Person are required (other than any already given or obtained) for its due execution, delivery and performance of this Assignment and Acceptance; and apart from any agreements or undertakings or filings
required by the Credit Agreement, no further action by, or notice to, or filing with, any Person is required of it for such execution, delivery or performance; (iii) this Assignment and Acceptance has been duly executed and delivered by it and
constitutes the legal, valid and binding obligation of the Assignee, enforceable against the Assignee in accordance with the terms hereof, subject, as to enforcement, to bankruptcy, insolvency, moratorium, reorganization and other laws of general
application relating to or affecting creditors’ rights and to general equitable principles; [and (iv) it is an Eligible Assignee.] 
  

	 	 9.
	 Further Assurances. 

 The Assignor and the Assignee each hereby agree to execute and deliver such other instalments, and take such other action, as either party may reasonably request in connection with the transactions contemplated by
this Assignment and Acceptance, including the delivery of any notices or other documents or instruments to the Borrower or the Agent, which may be required in connection with the assignment and assumption contemplated hereby. 
  

	 	 10.
	 Miscellaneous. 

 (a)    Any amendment or waiver of any provision of this Assignment and Acceptance shall be in writing and signed by the parties hereto. No failure or delay by either party hereto in exercising any right, power or
privilege hereunder shall operate as a waiver thereof and any waiver of any breach of the provisions of this Assignment and Acceptance shall be without prejudice to any rights with respect to any other or further breach thereof. 
 (b)    All payments made hereunder shall be made without any set-off or counterclaim. 
 (c)    The Assignor and the Assignee shall each pay its own costs and expenses incurred in connection with the
negotiation, preparation, execution and performance of this Assignment and Acceptance. 
 (d)    This
Assignment and Acceptance may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 
 (e)    THIS ASSIGNMENT AND ACCEPTANCE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF ____________. The Assignor and the Assignee each
irrevocably submits to the non-exclusive jurisdiction of any State or Federal court sitting in [            ] over any suit, action or proceeding arising out of or relating to this
Assignment and Acceptance and irrevocably agrees that all claims in respect of such action or proceeding may be heard and determined in such [            ] State or Federal court.
Each party to this Assignment and Acceptance hereby irrevocably waives, to the fullest extent it may effectively do so, the defense of an inconvenient forum to the maintenance of such action or proceeding. 
  

 Exhibit F-5 

 (f)    THE ASSIGNOR AND THE ASSIGNEE EACH HEREBY KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS ASSIGNMENT AND ACCEPTANCE, THE CREDIT AGREEMENT, ANY RELATED DOCUMENTS
AND AGREEMENTS OR ANY COURSE OF CONDUCT, COURSE OF DEALING, OR STATEMENTS (WHETHER ORAL OR WRITTEN). 
 IN WITNESS WHEREOF,
the Assignor and the Assignee have caused this Assignment and Acceptance to be executed and delivered by their duly authorized officers as of the date first above written. 
  

			
	[ASSIGNOR]
		
	 By:
	 	  
	 Title:
	 	  
	 Address:
	 	  

  

			
	[ASSIGNEE]
		
	 By:
	 	  
	 Title:
	 	  
	 Address:
	 	  

  

 Exhibit F-6 

 SCHEDULE 1 
 to 
 ASSIGNMENT AND ACCEPTANCE 
 NOTICE OF ASSIGNMENT AND ACCEPTANCE 
 __________, 200__ 
 JPMorgan Chase Bank, N.A. 
 _______________________ 
 _______________________ 
 Attn: __________________________ 
  

	 Re:
	 OMNOVA Solutions Inc. 

 175 Ghent Road 
 Fairlawn, OH 44333 
 Ladies and Gentlemen: 
 We refer to the Amended and Restated Credit Agreement dated as of
May 22, 2007 (as amended, amended and restated, modified, supplemented or renewed from time to time the “Credit Agreement”) among OMNOVA Solutions Inc. (the “Borrower”), the Lenders referred to therein and
JPMorgan Chase Bank, N.A., as agent for the Lenders (the “Agent”). Terms defined in the Credit Agreement are used herein as therein defined. 
 1.    We hereby give you notice of, and request your consent to, the assignment by ___________ (the “Assignor”) to ________________ (the
“Assignee”) of ______% of the right, title and interest of the Assignor in and to the Credit Agreement (including the right, title and interest of the Assignor in and to the Commitments of the Assignor, all outstanding Loans made by
the Assignor and the Assignor’s participation in the Letters of Credit pursuant to the Assignment and Acceptance Agreement attached hereto (the “Assignment and Acceptance”). We understand and agree that the Assignor’s
Commitment, as of ___________, 200_, is $                    , the aggregate amount of its outstanding Loans is
$                    , and its participation in L/C Obligations is
$                    . 
 2.    The Assignee agrees that, upon receiving the consent of the Agent and, if applicable, the Borrower to such assignment, the Assignee will be bound by the terms of the Credit Agreement as fully and to the same extent
as if the Assignee were the Lender originally holding such interest in the Credit Agreement. 
  

 Schedule 1-1 

 3.    The following administrative details apply to
the Assignee: 
     (A)     Notice Address: 
  

	
	       Assignee name: _________________

	       Address: _______________________

	                       _______________________

	                       _______________________

	       Attention: _______________________

	       Telephone:
(            ) ______________

	       Telecopier:
(            ) ______________

	       Telex (Answerback): ______________

     (B)     Payment
Instructions: 
  

	
	       Account No.:  _________________
                         At: _________________

	                               _________________

	                               _________________

	       Reference:      __________________

	       Attention:        _________________

 4.    You are entitled to rely upon the representations,
warranties and covenants of each of the Assignor and Assignee contained in the Assignment and Acceptance. 
 IN WITNESS
WHEREOF, the Assignor and the Assignee have caused this Notice of Assignment and Acceptance to be executed by their respective duly authorized officials, officers or agents as of the date first above mentioned. 
  

			
	 Very truly yours,

	
	 [NAME OF ASSIGNOR]

		
	 By:
	 	  
		
	 Title:
	 	  

  

			
	 [NAME OF ASSIGNEE]

		
	 By:
	 	  
		
	 Title:
	 	  
		 	

  

 Schedule 1-2 

			
	 ACKNOWLEDGED AND ASSIGNMENT CONSENTED TO:

	
	 JPMorgan Chase Bank, N.A.
 as Agent

		
	 By:
	 	  
	 Title:
	 	  

  

 Schedule 1-3 

 SCHEDULE 1.2 
 COMMITMENTS 
  

											
	 Lender
	  	Revolving Loan
Commitment	  	Swing Line Loan
Commitment	 	 	 Pro Rata
Share
 (3 decimals)
	 
	 JPMorgan Chase Bank,
 N.A.
	  	$	24,000,000	  	$	10,000,000	(100%)	 	30.000	%
	 PNC Bank, National Association
	  	$	16,000,000	  				 	20.000	%
	 Fifth Third Bank
	  	$	12,000,000	  				 	15.000	%
	 LaSalle Business Credit, LLC
	  	$	16,000,000	  				 	20.000	%
	 KeyBank National Association
	  	$	12,000,000	  				 	15.000	%

  

 Schedule 1.2-1Term Loan Credit Agreement dated as of May 22, 2007

 Exhibit 10.30 
 EXECUTION VERSION 
  

 TERM LOAN CREDIT AGREEMENT 
 among 
 OMNOVA SOLUTIONS INC., 
 VARIOUS LENDERS,

 and 
 DEUTSCHE BANK TRUST
COMPANY AMERICAS, 
 as ADMINISTRATIVE AGENT 
 and 
 COLLATERAL AGENT 
  

 Dated as of May 22, 2007 
  

 $150,000,000 
  
 DEUTSCHE BANK SECURITIES INC. 
 as JOINT LEAD ARRANGER and SOLE BOOKRUNNING MANAGER 
 and 
 KEY BANK CAPITAL MARKETS, INC., 
 as JOINT LEAD ARRANGER AND DOCUMENTATION AGENT 
  

 Cahill Gordon & Reindel LLP 
 80 Pine
Street 
 New York, NY 10005 

 TABLE OF CONTENTS 
  

					
	 	    	 	  	Page
			
	 SECTION 1.
	    	Definitions and Accounting Terms	  	
			
	 1.01
	    	Defined Terms	  	1
			
	 SECTION 2.
	    	Amount and Terms of Credit	  	
			
	 2.01
	    	The Commitments	  	21
	 2.02
	    	Minimum Amount of Each Borrowing	  	21
	 2.03
	    	Notice of Borrowing	  	21
	 2.04
	    	Disbursement of Funds	  	21
	 2.05
	    	Notes	  	22
	 2.06
	    	Conversions	  	23
	 2.07
	    	Pro Rata Borrowings	  	23
	 2.08
	    	Interest	  	23
	 2.09
	    	Interest Periods	  	24
	 2.10
	    	Increased Costs, Illegality, etc.	  	25
	 2.11
	    	Compensation	  	26
	 2.12
	    	Change of Lending Office	  	27
	 2.13
	    	Replacement of Lenders	  	27
	 2.14
	    	Limitations on Additional Amounts, etc.	  	27
	 2.15
	    	Incremental Term Commitments	  	28
			
	 SECTION 3.
	    	Fees; Reductions of Commitment	  	
			
	 3.01
	    	Fees	  	29
	 3.02
	    	Mandatory Reduction of Commitments	  	29
			
	 SECTION 4.
	    	Prepayments; Payments; Taxes	  	
			
	 4.01
	    	Voluntary Prepayments	  	29
	 4.02
	    	Mandatory Repayments	  	30
	 4.03
	    	Method and Place of Payment	  	32
	 4.04
	    	Net Payments; Taxes	  	32
			
	 SECTION 5.
	    	Conditions Precedent to Closing Date	  	
			
	 5.01
	    	Execution of Agreement; Notes	  	34
	 5.02
	    	No Default; Representations and Warranties	  	34
	 5.03
	    	Officer’s Certificate	  	35
	 5.04
	    	Opinions of Counsel	  	35
	 5.05
	    	Corporate Documents; Proceedings	  	35
	 5.06
	    	Consummation of the Transaction	  	35
	 5.07
	    	Pledge Agreement	  	36
	 5.08
	    	Security Agreement	  	36
	 5.09
	    	Subsidiary Guarantee	  	37
	 5.10
	    	Intercreditor Agreement	  	37
	 5.11
	    	Material Adverse Change, etc.	  	37

					
	 	    	 	  	Page
			
	 5.12
	    	Fees, etc.	  	37
	 5.13
	    	Financial Statements; Pro Forma Financials; Projections	  	37
	 5.14
	    	Solvency Certificate	  	37
	 5.15
	    	Notice of Borrowing	  	37
	 5.16
	    	Insurance	  	37
	 5.17
	    	No Conflicts	  	37
	 5.18
	    	Litigation	  	37
	 5.19
	    	Margin Regulations	  	38
			
	 SECTION 6.
	    	Representations and Warranties	  	
			
	 6.01
	    	Status	  	38
	 6.02
	    	Power and Authority	  	38
	 6.03
	    	No Violation	  	38
	 6.04
	    	Governmental Approvals	  	39
	 6.05
	    	Financial Statements; Financial Condition; Undisclosed Liabilities; Projections; etc.	  	39
	 6.06
	    	Litigation	  	40
	 6.07
	    	True and Complete Disclosure	  	40
	 6.08
	    	Use of Proceeds; Margin Regulations	  	40
	 6.09
	    	Tax Returns and Payments	  	41
	 6.10
	    	ERISA	  	41
	 6.11
	    	The Security Documents	  	41
	 6.12
	    	Properties	  	42
	 6.13
	    	Capitalization	  	42
	 6.14
	    	Subsidiaries	  	42
	 6.15
	    	Compliance with Statutes, etc.	  	42
	 6.16
	    	Investment Company Act	  	43
	 6.17
	    	Environmental Matters	  	43
	 6.18
	    	Labor Relations	  	43
	 6.19
	    	Patents, Licenses, Franchises and Formulas	  	44
	 6.20
	    	Indebtedness	  	44
	 6.21
	    	Representations and Warranties in Documents	  	44
	 6.22
	    	Insurance	  	44
			
	 SECTION 7.
	    	Affirmative Covenants	  	
			
	 7.01
	    	Information Covenants	  	44
	 7.02
	    	Books, Records and Inspections	  	46
	 7.03
	    	Maintenance of Property; Insurance	  	47
	 7.04
	    	Maintenance of Existence; Intellectual Property	  	47
	 7.05
	    	Compliance with Statutes, etc.	  	47
	 7.06
	    	Compliance with Environmental Laws	  	47
	 7.07
	    	ERISA	  	48
	 7.08
	    	End of Fiscal Years; Fiscal Quarters	  	49
	 7.09
	    	Performance of Obligations	  	49
	 7.10
	    	Payment of Taxes	  	49
	 7.11
	    	Additional Security; Further Assurances	  	49
	 7.12
	    	Ownership of Subsidiaries	  	50
	 7.13
	    	Use of Proceeds	  	50

  

 -ii- 

					
	 	    	 	  	Page
			
	 7.14
	    	Maintenance of Company Separateness	  	50
	 7.15
	    	Interest Rate Protection	  	51
	 7.16
	    	Post-Closing Obligations	  	51
	 7.17
	    	Deposit Accounts	  	52
			
	 SECTION 8.
	    	Negative Covenants	  	
			
	 8.01
	    	Liens	  	53
	 8.02
	    	Consolidation, Merger, Sale of Assets, etc.	  	55
	 8.03
	    	Dividends	  	57
	 8.04
	    	Indebtedness	  	57
	 8.05
	    	Advances, Investments, Loans, Purchase of Assets	  	59
	 8.06
	    	Transactions with Affiliates	  	61
	 8.07
	    	Limitation on Payments of Certain Indebtedness; Modifications of Certain Indebtedness; Modifications of Certificate of Incorporation, By-Laws and Certain Agreements; etc.	  	62
	 8.08
	    	Limitation on Certain Restrictions on Subsidiaries	  	62
	 8.09
	    	Limitation on Issuance of Equity	  	63
	 8.10
	    	Business	  	63
	 8.11
	    	Limitation on the Creation of Subsidiaries	  	63
	 8.12
	    	Multiemployer Plans	  	64
	 8.13
	    	Net Leverage Ratio	  	64
			
	 SECTION 9.
	    	Events of Default	  	
			
	 9.01
	    	Payments	  	64
	 9.02
	    	Representations, etc.	  	64
	 9.03
	    	Covenants	  	64
	 9.04
	    	Default Under Other Agreements	  	64
	 9.05
	    	Bankruptcy, etc.	  	65
	 9.06
	    	ERISA	  	65
	 9.07
	    	Security Documents	  	65
	 9.08
	    	Guarantees	  	65
	 9.09
	    	Judgments	  	66
	 9.10
	    	Change of Control	  	66
	 9.11
	    	ABL/Term Loan Intercreditor Agreement	  	66
			
	 SECTION 10.
	    	The Administrative Agent	  	
			
	 10.01
	    	Appointment	  	66
	 10.02
	    	Nature of Duties	  	67
	 10.03
	    	Lack of Reliance on the Administrative Agent	  	67
	 10.04
	    	Certain Rights of the Administrative Agent	  	67
	 10.05
	    	Reliance	  	67
	 10.06
	    	Indemnification	  	67
	 10.07
	    	The Administrative Agent in its Individual Capacity	  	68
	 10.08
	    	Holders	  	68
	 10.09
	    	Resignation by the Administrative Agent	  	68

  

 -iii- 

					
	 	    	 	  	Page
			
	 SECTION 11.
	    	Miscellaneous	  	
			
	 11.01
	    	Payment of Expenses, etc.	  	69
	 11.02
	    	Right of Setoff	  	70
	 11.03
	    	Notices	  	70
	 11.04
	    	Benefit of Agreement; Assignments; Participations	  	71
	 11.05
	    	No Waiver; Remedies Cumulative	  	72
	 11.06
	    	Payments Pro Rata	  	73
	 11.07
	    	Calculations; Computations	  	73
	 11.08
	    	GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL	  	73
	 11.09
	    	Counterparts	  	74
	 11.10
	    	Effectiveness	  	74
	 11.11
	    	Headings Descriptive	  	74
	 11.12
	    	Amendment or Waiver	  	74
	 11.13
	    	Confidentiality	  	76
	 11.14
	    	Register	  	77
	 11.15
	    	USA Patriot Act	  	77
	 11.16
	    	Survival	  	77

 SCHEDULES 
  

			
	Schedule 1.01(a)	 	Commitments
	Schedule 1.01(b)	 	Lender Addresses
	Schedule 5.06(d)	 	Existing Indebtedness
	Schedule 6.13	 	Capitalization
	Schedule 6.14	 	Subsidiaries
	Schedule 6.18	 	Labor Contracts
	Schedule 6.22	 	Insurance
	Schedule 7.16(a)	 	Owned Real Property
	Schedule 8.01	 	Existing Liens
	Schedule 8.05	 	Existing Investments

 EXHIBITS 
  

			
	Exhibit A	  	Form of Notice of Borrowing
	Exhibit B	  	Form of Note
	Exhibit C	  	Form of Section 4.04(b)(ii) Certificate
	Exhibit D	  	Form of Opinion of Frost Brown Todd LLC
	Exhibit E	  	Form of Officers’ Certificate
	Exhibit F	  	Form of Pledge Agreement
	Exhibit G	  	Form of Security Agreement
	Exhibit H	  	Form of Subsidiary Guarantee
	Exhibit I	  	Form of Intercompany Note
	Exhibit J	  	Form of Assignment and Assumption Agreement
	Exhibit K	  	Form of ABL/Term Loan Intercreditor Agreement
	Exhibit L	  	Form of Solvency Certificate

  

 -iv- 

					
	 	 	 	  	Page

			
		
	Exhibit M	  	Form of Incremental Term Commitment Agreement
	Exhibit N	  	Form of Joinder Agreement

  

 -v- 

 TERM LOAN CREDIT AGREEMENT, dated as of May 22, 2007 among OMNOVA SOLUTIONS INC., an Ohio
corporation (the “Company”), the Lenders party hereto from time to time and DEUTSCHE BANK TRUST COMPANY AMERICAS, as Administrative Agent and Collateral Agent (all capitalized terms used herein and defined in Section 1 are used herein
as therein defined). 
 W I T N E S S E T H : 
 WHEREAS, subject to and upon the terms and conditions herein set forth, the Lenders are willing to make available to the Company the senior secured term
loan facility provided for herein; 
 NOW, THEREFORE, IT IS AGREED: 
 SECTION 1.    Definitions and Accounting Terms. 
 1.01    Defined Terms. As used in this Agreement, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the
terms defined): 
 “ABL Borrowing Availability” shall mean “Availability” as defined in the ABL Credit Agreement.

 “ABL Credit Agreement” shall mean the ABL Credit Agreement dated as of May 28, 2003, as amended, restated, supplemented or
otherwise modified from time to time in accordance with the terms thereof, by and among the Company, certain of the Company’s Subsidiaries from time to time party thereto, the lenders party thereto from time to time and JPMorgan Chase Bank,
N.A., as the administrative agent, providing for the making of ABL Loans and the issuance of ABL Letters of Credit, as it may be refinanced from time to time in accordance with the terms hereof pursuant to Indebtedness which constitutes a Permitted
Refinancing ABL Credit Facility. 
 “ABL Credit Documents” shall mean the “Loan Documents” as defined in the ABL Credit
Agreement. 
 “ABL/Term Loan Intercreditor Agreement” shall have the meaning provided in Section 6.11(a). 
 “ABL Letters of Credit” shall mean the Letters of Credit as defined in the ABL Credit Agreement. 
 “ABL Loans” shall mean the “Loans” as defined in the ABL Credit Agreement. 
 “ABL Security Documents” shall mean the “Security Agreement” as defined in the ABL Credit Agreement and certain other documents
executed in connection therewith. 
 “Additional Mortgage” shall have the meaning provided in Section 7.11(a). 
 “Additional Mortgaged Property” shall have the meaning provided in Section 7.11(a). 
 “Adjusted Working Capital” at any time shall mean Consolidated Current Assets (but excluding therefrom all cash and Cash Equivalents) less
Consolidated Current Liabilities. 

 “Administrative Agent” shall mean DBTCA, in its capacity as Administrative Agent for the
Lenders hereunder, and shall include any successor to the Administrative Agent appointed pursuant to Section 10.09. 
 “Affiliate” shall mean, with respect to any Person, any other Person (i) directly or indirectly controlling (including, but not limited to, all directors, officers and partners of such Person), controlled by, or under direct
or indirect common control with, such Person or (ii) that directly or indirectly owns more than 10% of any class of the voting securities or capital stock of or equity interests in such Person. A Person shall be deemed to control another Person
if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such other Person, whether through the ownership of voting securities, by contract or otherwise. Notwithstanding anything
herein to the contrary, the Agents and the Lenders shall be deemed not to be an Affiliate of the Company or any of its Subsidiaries. 
 “Agent” shall mean the Administrative Agent and the Collateral Agent. 
 “Agreement” shall mean this Term Loan
Credit Agreement, as modified, supplemented, amended, restated, extended, renewed, refinanced or replaced from time to time. 
 “Applicable Margin” shall mean a percentage per annum equal to (a) in the case of Loans maintained as Base Rate Loans, 1.50% and (b) in the case of loans maintained as Eurodollar Loans, 2.50%. 
 “Approved Bank” shall have the meaning provided in the definition of “Cash Equivalents”. 
 “Asian Latex Businesses” shall mean those businesses in Asia with which the Company or any of its Subsidiaries shall have entered into joint
venture or similar agreements with relating to making investments in assets to produce emulsion polymers including styrene butadiene latex. 
 “Asset Sale” shall mean any sale, transfer or other disposition by the Company or any of its Subsidiaries to any Person other than the Company or any of its Wholly-Owned Subsidiaries of any asset (including, without limitation,
any capital stock or other equity interests or securities of another Person), of the Company or any of its Subsidiaries, other than any sale, transfer or disposition permitted by Sections 8.02(i), (ii)(but not excluding any sales of equity interests
of the three entities identified in the second parenthetical in Section 8.02(ii)), (iv), (vi), (viii), (ix), (x), (xi), (xii), or (xiii). 
 “Assignment and Assumption Agreement” shall mean the Assignment and Assumption Agreement substantially in the form of Exhibit J (appropriately completed). 
 “Authorized Officer” of any Credit Party shall mean any of the President, the Chief Financial Officer, the Treasurer, any Assistant Treasurer,
any Vice-President, the Secretary or the General Counsel of such Credit Party or any other officer or employee of such Credit Party which is designated in writing to the Administrative Agent by any of the foregoing officers of such Credit Party as
being authorized to give such notices under this Agreement. 
 “Bankruptcy Code” shall have the meaning provided in
Section 9.05. 
 “Base Rate” at any time shall mean the higher of (i) the rate which is 1/2 of 1% in excess of the
overnight Federal Funds Rate or (ii) the Prime Lending Rate. 
  

 -2- 

 “Base Rate Loan” shall mean each Loan designated or deemed designated as such by the Company at
the time of the incurrence thereof or conversion thereto. 
 “Borrowing” shall mean the borrowing of one Type of Loan from all the
Lenders, on a given date (or resulting from a conversion or conversions on such date) and, in the case of Eurodollar Loans, having the same Interest Period; provided that Base Rate Loans incurred pursuant to Section 2.10(b) shall be
considered part of the related Borrowing of Eurodollar Loans. 
 “Business” shall mean any corporation, limited liability company,
partnership or other business entity (or the adjectival form thereof, where appropriate) or the equivalent of the foregoing in any foreign jurisdiction. 
 “Business Day” shall mean (i) for all purposes other than as covered by clause (ii) below, any day except Saturday, Sunday and any day which shall be in New York City a legal holiday or a day on
which banking institutions are authorized or required by law or other government action to close and (ii) with respect to all notices and determinations in connection with, and payments of principal and interest on, Eurodollar Loans, any day
which is a Business Day described in clause (i) above and which is also a day for trading by and between lenders in the London interbank Eurodollar market. 
 “Capital Expenditures” shall mean, with respect to any fiscal period of the Company, all payments made in such period in respect of the cost of any fixed asset or improvement, or replacement, substitution or
addition thereto, which has a useful life of more than one year, including without limitation, those costs arising in connection with the direct or indirect acquisition of such asset by way of increased product or service charges and, without
duplication, the amount of Capitalized Lease Obligations incurred by the Company with respect to such fiscal period. 
 “Capitalized
Lease Obligations” shall mean, with respect to any Person, all rental obligations which, under generally accepted accounting principles, are or will be required to be capitalized on the books of such Person, in each case taken at the amount
thereof accounted for as indebtedness in accordance with such principles. 
 “Cash Equivalents” shall mean (i) securities
issued or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality thereof (provided that the full faith and credit of the United States of America is pledged in support thereof) having
maturities of not more than one year from the date of acquisition, (ii) U.S. dollar denominated time deposits, certificates of deposit and bankers acceptances of (x) any Lender and (y) any bank which has, or whose parent company has,
a short-term commercial paper rating from S&P of at least A-l or the equivalent thereof or from Moody’s of at least P-l or the equivalent thereof (any such bank or Lender, an “Approved Bank”), in each case with maturities of not
more than one year from the date of acquisition, (iii) commercial paper issued by any Approved Bank or by the parent company of any Approved Bank and commercial paper issued by, or guaranteed by, any company with a short-term commercial paper
rating of at least A-l or the equivalent thereof by S&P or at least P-l or the equivalent thereof by Moody’s, or guaranteed by any company with a long term unsecured debt rating of at least A or A2, or the equivalent of each thereof, from
S&P or Moody’s, as the case may be, and in each case maturing within six months after the date of acquisition, (iv) marketable direct obligations issued by any state of the United States of America or any political subdivision of any
such state or any public instrumentality thereof maturing within one year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either S&P or Moody’s and
(v) investments in money market funds substantially all the assets of which are comprised of securities of the types described in clauses (i) through (iv) above. 
  

 -3- 

 “Cash Proceeds” shall mean, with respect to any Asset Sale, the aggregate cash payments
(including any cash received by way of deferred payment pursuant to a note receivable issued in connection with such Asset Sale, but only as and when so received) received by the Company or any of its Subsidiaries from such Asset Sale. 

“CERCLA” shall mean the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended from time to time, 42
U.S.C. § 9601 et. seq. 
 “Change in Law” shall have the meaning provided in Section 2.10(a)(ii).

 “Change of Control” shall mean (i) any “Person” or “group” (as such terms are used in Sections 13(d)
and 14(d) of the Exchange Act), shall have acquired beneficial ownership (within the meaning of Rule 13(d)-3 under the Exchange Act), directly or indirectly, of 35% or more of the issued and outstanding shares of capital stock of the Company having
the right to vote for the election of directors of the Company under ordinary circumstances or (ii) any “change of control” or similar event shall occur under the ABL Credit Documents. 
 “Claims” shall have the meaning provided in the definition of “Environmental Claims”. 
 “Closing Date” shall mean the date on which the conditions precedent set forth in Section 5 have been satisfied. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings issued
thereunder. Section references to the Code are to the Code, as in effect on the date of this Agreement, and to any subsequent provisions of the Code amendatory thereof, supplemental thereto or substituted therefor. 
 “Collateral” shall mean all property (whether real or personal) with respect to which any security interests have been granted (or purported to
be granted) pursuant to any Security Document, including, without limitation, all Pledge Agreement Collateral, all Security Agreement Collateral, all Mortgaged Properties, all Additional Mortgaged Properties and all cash and Cash Equivalents
delivered as collateral pursuant to Sections 4.02 or 7.11 hereof. 
 “Collateral Agent” shall mean the Administrative Agent acting
as collateral agent for the Secured Creditors pursuant to the Security Documents or any successor thereto, or any Affiliate thereof to the extent acting as mortgagee for the Secured Creditors pursuant to any Mortgage in respect of Real Property
owned by the Company and/or its Subsidiaries. 
 “Commitment” shall mean, for each Lender, the amount set forth opposite such
Lender’s name in Schedule 1.01(a), directly below the column entitled “Commitment,” as the same may be terminated pursuant to Section 3 or 9, as applicable. 
 “Company” shall have the meaning provided in the first paragraph of this Agreement. 
 “Confidential Information Memorandum” shall mean the Confidential Information Memorandum dated May 2007 relating to the Transaction.

 “Consolidated Cash Interest Expense” means, with respect to the Company and its Subsidiaries for any period, Consolidated
Interest Expense for such period, less the sum of (without duplication and to the extent, but only to the extent, included in the determination of Consolidated Interest Expense 

  

 -4- 

 
for such period): (i) amortization of debt discount and debt issuance fees and (ii) pay-in-kind interest or other non-cash interest expense.

 “Consolidated Current Assets” shall mean, at any time, the consolidated current assets of the Company and its Subsidiaries
excluding current assets of discontinued operations and current tax assets. 
 “Consolidated Current Liabilities” shall mean, at
any time, the consolidated current liabilities of the Company and its Subsidiaries at such time, but excluding the current portion of any Indebtedness under this Agreement and the current portion of any other long-term Indebtedness which would
otherwise be included therein and current liabilities of discontinued operations and current tax liabilities. 
 “Consolidated
EBITDA” shall mean, for any fiscal period of the Company, Consolidated Net Income, plus, to the extent deducted in the determination of Consolidated Net Income for that fiscal period, interest expense, Federal, state, local and foreign
income taxes, depreciation and amortization. 
 “Consolidated Interest Expense” shall mean, for any period, the total consolidated
interest expense of the Company and its Subsidiaries for such period (whether paid or accrued, and calculated without regard to any limitations on the payment thereof) plus, without duplication, that portion of Capitalized Lease Obligations of the
Company and its Subsidiaries representing the interest factor for such period; provided that any deferred financing fees to the extent otherwise included in the total consolidated interest expense of the Company and its Subsidiaries shall be
excluded therefrom. 
 “Consolidated Net Debt” shall mean, at any time, the sum of (without duplication) (i) all Indebtedness
of the Company and its Subsidiaries (on a consolidated basis) as would be required to be reflected as debt or Capitalized Lease Obligations on the liability side of a consolidated balance sheet of the Company and its Subsidiaries in accordance with
GAAP, (ii) all Indebtedness of the Company and its Subsidiaries of the type described in clauses (ii) and (vii) of the definition of Indebtedness and (iii) all Contingent Obligations of the Company and its Subsidiaries in respect
of Indebtedness of any third Person of the type referred to in preceding clauses (i) and (ii), in each case net of cash, Cash Equivalents and restricted cash on hand; provided that (x) the aggregate amount available to be drawn
(i.e., unfunded amounts) under all letters of credit, bankers’ acceptances, bank guaranties, surety bonds and similar obligations issued for the account of the Company or any of its Subsidiaries (but excluding, for avoidance of doubt,
all unpaid drawings or other matured monetary obligations owing in respect of such letters of credit, bankers’ acceptances, bank guaranties, surety bonds and similar obligations) shall not be included in any determination of “Consolidated
Indebtedness” and (y) the amount of Indebtedness in respect of the Interest Rate Protection Agreements and Other Hedging Agreements shall be at any time the unrealized net loss position, if any, of the Company and/or its Subsidiaries
thereunder on a marked-to-market basis determined no more than one month prior to such time. 
 “Consolidated Net Income” means
with respect to any fiscal period of the Company, the Company’s income (loss) from continuing operations after provisions for income taxes for such fiscal period, as determined in accordance with GAAP and reported on the financial statements
required to be provided to the Lenders pursuant to this agreement for such period, excluding any and all of the following included in such income (loss) from continuing operations: (a) gain or loss arising from the sale or disposal of any
capital assets; (b) gain arising from any write-up in the book value of any asset; (c) earnings of any Person, substantially all the assets of which have been acquired by the Company in any manner, to the extent realized by such other
Person prior to the date of acquisition; (d) earnings of any Person in which the Company has an ownership interest unless (and only to the extent) such earnings shall have been received by the Company or any of its Subsidiaries in the form of
cash distributions; (e) earnings of 

  

 -5- 

 
any Person to which assets of the Company shall have been sold, transferred or disposed of, or into which the Company shall have been merged, or which has
been a party with the Company to any consolidation or other form of reorganization, prior to the date of such transaction; (f) gain or loss arising from the acquisition of debt or equity securities of the Company or from cancellation or
forgiveness of debt; (g) income or expense from the Company’s Pension Plans but any cash payments made to fund such Pension Plans shall be included; (h) expenses arising from the Company’s contributions of the Company’s
stock to its Plans; (i) any gains or losses arising from any changes in the Company’s LIFO reserve; and (j) any cumulative effect of an accounting change from the implementation of a new accounting pronouncement as required by GAAP.

 “Consolidated Senior Debt” shall mean, at any time of determination, the sum of (a) the aggregate principal amount of all
Loans outstanding hereunder at such time plus (b) the aggregate principal amount of ABL Loans at such time. 
 “Contingent
Obligation” shall mean, as to any Person, any obligation of such Person guaranteeing or intended to guarantee any Indebtedness, leases, dividends or other obligations (“primary obligations”) of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of such 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 (x) for the purchase or payment of any such primary obligation or (y) 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 holder of such primary obligation against loss in respect thereof; provided, however, that the term Contingent Obligation shall not include endorsements of instruments for deposit
or collection in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Contingent Obligation is made or,
if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is required to perform thereunder) as determined by such Person in good faith. 
 “Credit Documents” shall mean this Agreement, the ABL/Term Loan Intercreditor Agreement and, after the execution and delivery thereof pursuant
to the terms of this Agreement, each Note, each Security Document, each Joinder Agreement, each Guarantee and each Incremental Term Commitment Agreement. 
 “Credit Event” shall mean the making of any Loan. 
 “Credit Party” shall mean the
Company and each Subsidiary Guarantor. 
 “DBTCA” shall mean Deutsche Bank Trust Company Americas, in its individual capacity, and
any successor thereto by merger. 
 “Debt Agreements” shall mean all agreements evidencing or relating to material Indebtedness of
the Company or any of its Subsidiaries to the extent such agreement is to remain outstanding after giving effect to the incurrence of the Loans and the ABL Loans on the Closing Date. 
 “Default” shall mean any event, act or condition which with notice or lapse of time, or both, would constitute an Event of Default. 

 

 -6- 

 “Deposit Accounts” shall mean all “deposit accounts” as such term is defined in the
Uniform Commercial Code as in effect on the date hereof in the State of New York. 
 “Dividends” with respect to any Person shall
mean that such Person has declared or paid a dividend or returned any equity capital to its stockholders, members or other equity owners or authorized or made any other distribution, payment or delivery of property or cash to its stockholders,
members or other equity owners as such, or redeemed, retired, purchased or otherwise acquired, directly or indirectly, for consideration any shares of any class of its capital stock or other equity securities outstanding on or after the Closing Date
(or any options or warrants issued by such Person with respect to its capital stock or other equity securities), or set aside any funds for any of the foregoing purposes, or shall have permitted any of its Subsidiaries to purchase or otherwise
acquire for consideration any shares of any class of the capital stock or other equity securities of such Person outstanding on or after the Closing Date (or any options or warrants issued by such Person with respect to its capital stock or other
equity securities). 
 “Documents” shall mean and include the Refinancing Documents, the ABL Credit Documents and the Credit
Documents. 
 “Dollars” and the sign “$” shall each mean freely transferable lawful money of the United States.

 “Domestic Subsidiary” shall mean each Subsidiary of the Company that is incorporated or organized in the United States or any
State or territory thereof. 
 “ECF Percentage” shall mean (a) if the Net Leverage Ratio as of the end of the respective
Excess Cash Payment Period is greater than or equal to 3.50:1.00, 50%, (b) if such Net Leverage Ratio is less than 3.50:1.00 but greater than or equal to 2.50:1.00, 25% and (c) if such Senior Secured Leverage Ratio is less than 2.50:1.00,
0%. Notwithstanding the foregoing, the ECF Percentage shall be 50% during any period in which there exists or is continuing a Default or an Event of Default. 
 “Effective Date” shall have the meaning provided in Section 11.10. 
 “Eligible
Transferee” shall mean and include a commercial bank, financial institution or other “accredited investor” (as defined in Regulation D of the Securities Act), but in any event excluding the Company and its Subsidiaries and Affiliates.

 “Employee Benefit Plan” shall mean an employee benefit plan (as defined in Section 3(3) of ERISA) that is maintained or
contributed to by the Company or any Subsidiary (or with respect to an employee benefit plan subject to Title IV of ERISA, any ERISA Affiliate )or with respect to which the Company or any Subsidiary could incur liability. 
 “Environmental Claim” shall mean any and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens,
notices of non-compliance or violation, investigations or proceedings arising under any Environmental Law (hereafter “Claims”) or any permit issued under any such law, including, without limitation, (a) any and all Claims by
governmental or regulatory authorities for enforcement, cleanup, removal, response, remedial or other actions, damages, penalties or fines pursuant to any applicable Environmental Law, and (b) any and all Claims by any third party seeking
damages, contribution, indemnification, cost recovery, compensation or injunctive relief resulting from Hazardous Materials or arising from alleged injury or threat of injury to health, safety or the indoor or outdoor environment. 
  

 -7- 

 “Environmental Law” shall mean any and all Federal, state, provincial, foreign or local
statute, law, rule, regulation, ordinance, code, legally binding guideline or written policy and rule of common law now or hereafter in effect and in each case as amended, and any legally binding judicial or administrative interpretation thereof,
including any judicial or administrative order, consent decree or judgment relating to the indoor or outdoor environment, employee health or safety or Hazardous Material, including, without limitation, CERCLA; RCRA; the Federal Water Pollution
Control Act, 33 U.S.C. § 2601 et seq.; the Clean Air Act, 42 U.S.C. § 7401 et seq.; the Safe Drinking Water Act, 42 U.S.C. § 3803 et seq.; the Oil Pollution Act of 1990, 33 U.S.C. § 2701
et seq.; the Emergency Planning and the Community Right-to-Know Act of 1986, 42 U.S.C. § 11001 et seq.; the Hazardous Material Transportation Act, 49 U.S.C. § 1801 et seq.; the Occupational Safety
and Health Act, 29 U.S.C. § 651 et seq.; any state, local or foreign counterparts or equivalents, in each case as amended. 
 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and rulings issued thereunder. Section references to ERISA are to ERISA, as in effect on the
date of this Agreement and any subsequent provisions of ERISA, amendatory thereof, supplemental thereto or substituted therefor. 
 “ERISA Affiliate” shall mean any trade or business (whether or not incorporated) that, taken together with the Company, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for the purposes
of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Sections 414(m) and 414(o) of the Code. 
 “ERISA Event” shall mean (a) any “reportable event”, as defined in section 4043(c) of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is
waived by regulation; (b) with respect to a Pension Plan, the failure to satisfy the minimum funding standard of Section 412 of the Code and Section 302 of ERISA, whether or not waived; (c) the filing pursuant to Section 412
of the Code of an application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Company or any of its ERISA Affiliates of any liability to the PBGC under Title IV of ERISA with respect to the
termination of any Plan; (e) the receipt by the Company or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan or the
occurrence of any event or condition which could reasonably be expected to constitute grounds under ERISA for the termination of or the appointment of a trustee to administer any Plan; (f) the incurrence by the Company or any of its ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; (g) the receipt by the Company or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan, from the
Company or any ERISA Affiliate of any notice, concerning the imposition of “withdrawal liability” (within the meaning of Section 4201 of ERISA) or a determination that a Multiemployer Plan is or is expected to be, insolvent or in
reorganization, within the meaning of Title IV of ERISA (h) the failure to make by its due date a required contribution under Section 412(m) of the Code (or Section 430(j) of the Code, as amended by the Pension Protection Act of 2006)
with respect to a Pension Plan or the failure to make any required contribution to a Multiemployer Pension Plan; (i) the “substantial cessation of operations” within the meaning of Section 4062(e) of ERISA with respect to a
Pension Plan; or (j) the occurrence of a nonexempt prohibited transaction (within the meaning of Section 4975 of the Code or Section 406 of ERISA) which could result in liability to the Company or any ERISA Affiliate. 
 “Eurodollar Loan” shall mean each Loan designated as such by the Company at the time of the incurrence thereof or conversion thereto.

 “Eurodollar Rate” shall mean, with respect to any Eurodollar Loan for any Interest Period, (a) the rate offered quotation
to first-class banks in the London interbank Eurodollar market by the 

  

 -8- 

 
Administrative Agent for Dollar deposits of amounts in immediately available funds comparable to the outstanding principal amount of the Eurodollar Loan of
the Administrative Agent (in its capacity as a Lender) at approximately 11:00 A.M., London time, two Business Days prior to the commencement of such Interest Period, as the rate for Dollar deposits with a maturity comparable to such Interest Period;
provided that in the event that such rate is not available at such time for any reason, then this component of the “Eurodollar Rate” with respect to such Eurodollar Loan for such Interest Period shall be the offered quotation to
first-class banks in the interbank Eurodollar market by DBTCA for Dollar deposits of amounts in immediately available funds comparable to the outstanding principal amount of the Eurodollar Loan of DBTCA with maturities comparable to the Interest
Period applicable to such Eurodollar Loan commencing two Business Days thereafter as of 11:00 A.M. (London time) on the date which is two Business Days prior to the commencement of such Interest Period; divided (and rounded off to the nearest 1/1000
of 1%) by (b) a percentage equal to 100% minus the then stated maximum rate of all reserve requirements (including, without limitation, any marginal, emergency, supplemental, special or other reserves required by applicable law) applicable to
any member bank of the Federal Reserve System in respect of Eurocurrency funding or liabilities as defined in Regulation D (or any successor category of liabilities under Regulation D). 
 “Event of Default” shall have the meaning provided in Section 9. 
 “Excess Cash Flow” shall mean, for any period, the difference between (a) the sum of (i) Consolidated EBITDA for such period and
(ii) the decrease, if any, in Adjusted Working Capital from the first day to the last day of such period, and (b) the sum of (i) an amount equal to the amount of Capital Expenditures (but excluding Capital Expenditures financed with
equity or Indebtedness (other than with ABL Loans)) made during such period, (ii) without duplication of amounts deducted under preceding clause (b)(i), the amounts expended by the Company and its Subsidiaries in respect of Permitted
Acquisitions (but excluding Permitted Acquisitions financed with equity or Indebtedness other than with Loans or ABL Loans), (iii) the aggregate amount of permanent principal payments of Indebtedness of the Company and its Subsidiaries (but
excluding repayments of (A) Indebtedness made with the proceeds of equity or with other Indebtedness (other than with the Loans), (B) Loans; provided that repayments of the Loans shall be deducted in determining Excess Cash Flow if
such repayments were made pursuant to regularly scheduled mandatory amortization payments thereof, and (C) ABL Loans), during such period, (iv) the increase, if any, in Adjusted Working Capital from the first day to the last day of such
period, (v) an amount of cash spent during such period with respect to expenses accrued on the Company’s balance sheet in connection with the Transaction or a Permitted Acquisition including purchase accounting reserves, (vi) the
aggregate amount of Dividends paid during such period under Section 8.03(iii), (vii) cash taxes paid by the Company and its Subsidiaries, (viii) investments made during such period pursuant to Section 8.05(xix) (but excluding any
such investment financed with equity or Indebtedness); (ix) reductions in purchase accounting reserves or reductions in other long term liabilities on the balance sheet of the Company for the period May 31, 2007 through November 30,
2007, and for each Excess Cash Payment Period thereafter; and (x) Consolidated Cash Interest Expense for such period. 
 “Excess
Cash Payment Date” shall mean the date occurring 90 days after the last day of each fiscal year of the Company (beginning with its fiscal year ended November 30, 2007). 
 “Excess Cash Payment Period” shall mean, with respect to the repayment required on each Excess Cash Payment Date, (i) the period from
June 1, 2007 through November 30, 2007 and (ii) thereafter, the immediately preceding fiscal year of the Company (beginning with its fiscal year ended November 30, 2008). 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
  

 -9- 

 “Existing Indebtedness” shall have the meaning provided in Section 5.06(d). 
 “Existing Note Tender Offer and Consent Solicitation” shall mean the Company’s tender offer to purchase for cash any and all of the
outstanding Senior Secured Notes issued by the Company and related solicitation of the consents of the holders of the Senior Secured Notes to (a) certain proposed amendments to the Senior Secured Note Indenture, and (b) the release and
termination of all liens in the collateral securing the Senior Secured Notes, in accordance with the terms of an Offer to Purchase and Consent Solicitation Statement dated April 20, 2007. 
 “Expenses” shall mean all present and future reasonable and invoiced expenses incurred by or on behalf of the Administrative Agent or the
Collateral Agent in connection with this Agreement, any other Credit Document or otherwise in its capacity as the Administrative Agent under this Agreement or the Collateral Agent under any Security Document, whether incurred heretofore or
hereafter, which expenses shall include, without limitation, the cost of record searches, the reasonable fees and expenses of attorneys and paralegals, all reasonable and invoiced costs and expenses incurred by the Administrative Agent (and the
Collateral Agent) in opening lender accounts, depositing checks, electronically or otherwise receiving and transferring funds, and any other charges imposed on the Administrative Agent (and the Collateral Agent) due to insufficient funds of
deposited checks and the standard fee of the Administrative Agent (and the Collateral Agent) relating thereto, reasonable fees and expenses of accountants, appraisers or other consultants, experts or advisors employed or retained by the
Administrative Agent and the Collateral Agent, fees and taxes related to the filing of financing statements, costs of preparing and recording any other Credit Documents, all expenses, costs and fees set forth in this Agreement and the other Credit
Documents, all other fees and expenses required to be paid pursuant to any other letter agreement and all fees and expenses incurred in connection with releasing Collateral and the amendment or termination of any of the Credit Documents. 

“Fair Value” shall mean the amount at which the assets (both tangible and intangible), in their entirety, of the Company and its
Subsidiaries (taken as a whole and determined on an enterprise basis), would change hands between a willing buyer and a willing seller, within a commercially reasonable period of time, each having reasonable knowledge of the relevant facts, with
neither being under any compulsion to act. 
 “Federal Funds Rate” shall mean for any period, a fluctuating interest rate equal for
each day during such period to the weighted average of the rates on overnight Federal Funds transactions with members of the Federal Reserve System arranged by Federal Funds brokers, as published for such day (or, if such day is not a Business Day,
for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Administrative
Agent from three Federal Funds brokers of recognized standing selected by the Administrative Agent. 
 “Fees” shall mean all
amounts payable pursuant to or referred to in Section 3.01. 
 “Final Maturity Date” shall mean (a) in respect of the
Loans, May 22, 2014 and (b) in respect of any Incremental Loans, May 22, 2014 or such later date as specified in the respective Incremental Term Commitment Agreement. 
 “First Priority” shall mean, with respect to any Lien purported to be created on any Collateral pursuant to any Security Document, that such
Lien is prior in right to any other Lien thereon, other than any Permitted Liens (excluding Permitted Liens as described in clause (y) of Section 8.01(v), but taking into account the relative priorities set forth in the ABL/Term Loan
Intercreditor Agreement) applicable to such Collateral which as a matter of law (and giving effect to any actions taken pursuant to the 

  

 -10- 

 
last paragraph of Section 8.01) have priority over the respective Liens on such Collateral created pursuant to the relevant Security Document.

 “Flood Hazard Property” means a Mortgaged Property and/or an Additional Mortgaged Property located in an area designated by the
Federal Emergency Management Agency as having flood or mudslide hazards. 
 “Foreign Subsidiary” shall mean each Subsidiary of the
Company that is not a Domestic Subsidiary. 
 “Foreign Subsidiary Loans” shall have the meaning provided in
Section 8.05(viii). 
 “GAAP” shall mean generally accepted accounting principles in the United States as in effect from time
to time; provided that determinations in accordance with GAAP for purposes of the Applicable Margins and Sections 4.02 and 8.05(xvi), including defined terms as used therein, and for all purposes of determining the Net Leverage Ratio, are
subject (to the extent provided therein) to Section 11.07(a). 
 “Governmental Authority” shall mean the government of the
United States, any other nation or any political subdivision thereof, whether state, provincial or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government. 
 “Guaranteed Obligations” shall have the
meaning provided in the Subsidiary Guarantees. “Guarantor” shall mean each Subsidiary Guarantor. 
 “Guarantee” or
“Guarantees” shall mean and include the Subsidiary Guarantee executed by the Domestic Subsidiaries of the Company. 
 “Hazardous Material” shall mean (a) any petrochemical or petroleum products, radioactive materials, asbestos, urea formaldehyde foam insulation, transformers or other equipment that contain dielectric fluid containing levels
of polychlorinated biphenyls, and radon gas; and (b) any chemicals, materials or substances defined as or included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,”
“restricted hazardous materials,” “extremely hazardous materials,” “restrictive hazardous wastes,” “toxic substances,” “toxic pollutants,” “contaminants” or “pollutants,” or words
of similar meaning and regulatory effect under any applicable Environmental Law. 
 “Inactive Subsidiary” shall mean any Subsidiary
of the Company that does not have any assets in excess of $100,000 or has not had revenues in excess of $100,000 for the Test Period then most recently ended. 
 “Incremental Commitment Requirements” shall mean, with respect to any provision of an Incremental Term Commitment on a given Incremental Term Commitment Date, the satisfaction of each of the following
conditions on or prior to the effective date of the respective Incremental Term Commitment Agreement: (a) no Default or Event of Default then exists or would result therefrom (for purposes of such determination, assuming the relevant
Incremental Loans in an aggregate principal amount equal to the full amount of Incremental Term Commitments then provided had been incurred, and the proposed Permitted Acquisition (if any) to be financed with the proceeds of such Incremental Loans
had been consummated, on such date of effectiveness) and all of the representations and warranties contained herein and in the other Credit Documents are true and correct in all material respects at such time (unless stated 

  

 -11- 

 
to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier
date); (b) the delivery by the Company to the Administrative Agent of an officer’s certificate executed by an Authorized Officer of the Company and certifying as to compliance with preceding clause (a); (c) the delivery by the Company
to the Administrative Agent of an acknowledgement in form and substance reasonably satisfactory to the Administrative Agent and executed by each Subsidiary Guarantor, acknowledging that such Incremental Term Commitment and all Incremental Loans
subsequently incurred pursuant to such Incremental Term Commitment shall constitute (and be included in the definition of) “Guaranteed Obligations” under the Subsidiaries Guarantee; (d) the delivery by the Company to the
Administrative Agent of an opinion or opinions, in form and substance reasonably satisfactory to the Administrative Agent, from counsel to the Credit Parties reasonably satisfactory to the Administrative Agent and dated such date, covering such of
the matters set forth in the opinions of counsel delivered to the Administrative Agent on the Closing Date pursuant to Section 5.04 as may be reasonably requested by the Administrative Agent, and such other matters incident to the transactions
contemplated thereby as the Administrative Agent may reasonably request; (e) the delivery by the Company and the other Credit Parties to the Administrative Agent of such other officers’ certificates, board of director resolutions and
evidence of good standing as the Administrative Agent shall reasonably request; and (f) the completion by the Company and the other Credit Parties of such other actions as the Administrative Agent may reasonably request in connection with such
Incremental Term Commitment. 
 “Incremental Loans” shall mean any loans incurred pursuant to an Incremental Term Commitment
pursuant to Section 2.15. 
 “Incremental Scheduled Repayment” shall have the meaning provided in Section 4.02(a)(ii).

 “Incremental Scheduled Repayment Date” shall have the meaning provided in Section 4.02(a)(ii). 
 “Incremental Term Commitment” shall mean, for any Lender or prospective Lender, any commitment by such Lender or prospective Lender to make
Incremental Loans to the Company as agreed to by such Lender in the respective Incremental Term Commitment Agreement delivered pursuant to Section 2.15. 
 “Incremental Term Commitment Agreement” shall mean each Incremental Term Commitment Agreement in the form of Exhibit M (appropriately completed) executed in accordance with Section 2.15. 
 “Incremental Term Commitment Date” shall mean each date upon which an Incremental Term Commitment under an Incremental Term Commitment
Agreement becomes effective, and the respective Incremental Loans are incurred, as provided in Section 2.15(b). 
 “Incremental
Term Lender” shall have the meaning specified in Section 2.15(b). 
 “Indebtedness” shall mean, as to any Person, without
duplication, (i) all indebtedness of such Person for borrowed money or for the deferred purchase price of property or services, (ii) the maximum amount available to be drawn under all letters of credit issued for the account of such Person
and all unpaid drawings in respect of such letters of credit, (iii) all Indebtedness of the types described in clause (i), (ii), (iv), (v), (vi) or (vii) of this definition secured by any Lien on any property owned by such Person,
whether or not such Indebtedness has been assumed by such Person, (iv) the aggregate amount required to be capitalized under leases under which such Person is the lessee, (v) all obligations of such person to pay a specified purchase price
for goods or services, whether or not delivered or accepted, i.e., 

  

 -12- 

 
take-or-pay and similar obligations, (vi) all Contingent Obligations of such Person in respect of Indebtedness of the types described in clauses
(i)–(v) above or (vii) below, and (vii) all net obligations or exposure under any Interest Rate Protection Agreement or Other Hedging Agreement or under any similar type of agreement or arrangement; provided that
Indebtedness shall not include (a) payables and accrued expenses, in each case arising in the ordinary course of business or (b) other obligations with respect to non-compete and consulting agreements which are or were entered into in
connection with a Permitted Acquisition. 
 “Intercompany Loans” shall have the meaning provided in Section 8.05(vii).

 “Intercompany Note” shall mean promissory notes, substantially in the form of Exhibit I evidencing Intercompany Loans.

 “Interest Coverage Ratio” shall mean for any Test Period, the ratio of Consolidated EBITDA for such Test Period to Consolidated
Interest Expense for such Test Period. 
 “Interest Determination Date” shall mean, with respect to any Eurodollar Loan, the second
Business Day prior to the commencement of any Interest Period relating to such Eurodollar Loan. 
 “Interest Period” shall have the
meaning provided in Section 2.09. 
 “Interest Rate Protection Agreement” shall mean any interest rate swap agreement,
interest rate cap agreement, interest collar agreement, interest rate hedging agreement, interest rate floor agreement or other similar agreement or arrangement. 
 “Joinder Agreement” shall mean a Joinder Agreement substantially in the form of Exhibit N (appropriately completed). 
 “Lender” shall mean each Person listed on Schedule 1.01(b), as well as any Person which becomes a “Lender” hereunder pursuant to Section 2.15 or 11.04(b). 
 “Lending Affiliate” shall mean, with respect to any Person, any other Person (i) directly or indirectly controlling (including, but not
limited to, all directors, officers and partners of such Person), controlled by, or under direct or indirect common control with, such Person or (ii) that directly or indirectly owns more than 50% of any class of the voting securities or
capital stock of or equity interests in such Person. A Person shall be deemed to control another Person if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such other Person,
whether through the ownership of voting securities, by contract or otherwise. 
 “Lien” shall mean any mortgage, deed of trust,
deed to secure debt, leasehold mortgagee, leasehold deed of trust, leasehold deed to secure debt, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other) 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 lease having substantially the same effect as any of the foregoing). 
 “Loan” shall have the meaning provided in Section 2.01; provided that following any Incremental Term Commitment Date the term
“Loans” shall include any Incremental Loans. 
 “Margin Stock” shall have the meaning provided in Regulation U.

  

 -13- 

 “Material Adverse Effect” shall mean a material adverse change in, or a material adverse effect
upon, the operations, business, condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole, the Collateral or any guarantor of the Obligations; (b) a material impairment of the Company or any Affiliate of the
Company to perform under any Credit Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against the Company of any Credit Document to which it is a party. 

“Minimum Amount” shall mean (i) with respect to Types of Loans maintained as Eurodollar Loans, $5,000,000 (and multiples of $1,000,000
in excess thereof or as the Administrative Agent may otherwise agree) and (ii) with respect to Types of Loans maintained as Base Rate Loans, $1,000,000 (and multiples of $1,000,000 in excess thereof or as the Administrative Agent may otherwise
agree). 
 “Moody’s” shall mean Moody’s Investors Service, Inc. 
 “Mortgage” or “Mortgages” shall have the meaning provided in Section 7.16(a) and, after the execution and delivery thereof,
shall include each Additional Mortgage. 
 “Mortgage Policies” shall have the meaning provided in Section 7.16(b) and, after
the execution and delivery of any Additional Mortgage, shall include each Mortgage Policy delivered in connection therewith pursuant to Section 7.11. 
 “Mortgaged Property” shall have the meaning provided in Section 7.16(a) and, after the execution and delivery of any Additional Mortgage, shall include the respective Additional Mortgaged Property.

 “Multiemployer Plan” shall mean any multiemployer plan as defined in Section 4001(a)(3) of ERISA. 
 “Net Cash Proceeds” shall mean, with respect to any Asset Sale, the Cash Proceeds resulting therefrom net of (x) cash expenses of sale
(including brokerage fees, if any, and payment of principal, premium and interest of Indebtedness (other than the Loans) required to be repaid as a result of such Asset Sale) and (y) incremental Federal, state and local taxes paid or payable as
a result thereof. 
 “Net Leverage Ratio” shall mean, on any date of determination, the ratio of (x) Consolidated Net Debt on
such date to (y) Consolidated EBITDA for the Test Period most recently ended on or prior to such date; provided that for the purposes of determining the Net Leverage Ratio any gain or loss arising from extraordinary items, as determined
in accordance with GAAP, or from any non-recurring charges consisting of charges for restructurings, reductions in work force, and plant closing and consolidations and other non-recurring charges not to exceed $2,000,000 for any 12 month period for
all such items in the aggregate shall not be included in the calculation of Consolidated Net Income related thereto. All calculations of the Net Leverage Ratio shall be made on pro forma basis. 
 “Non-Guarantor Subsidiary” shall mean Muraspec N.A. LLC and OMNOVA Overseas, Inc. (to the extent such entities continue to have de minimis
assets). 
 “Note” shall have the meaning provided in Section 2.05(a). 
 “Notice of Borrowing” shall have the meaning provided in Section 2.03(a). 
 “Notice of Conversion” shall have the meaning provided in Section 2.06. 
  

 -14- 

 “Notice Office” shall mean (i) for credit notices, the office of the Administrative Agent
located at 60 Wall Street, MS NYC60-0208, New York, New York 10005, Attention: Evelyn Thierry, Telephone No.: (212) 250-6113, and Telecopier No.: (212) 797-5690, and (ii) for operational notices, the office of the Administrative Agent
located at 100 Plaza One, 8th Floor, Jersey City, New Jersey 07311, Attention: Maxeen Jacques, Telephone No.: (201) 593-2483, and Telecopier No.: (201) 593-2307, or (in either case) such other office or person as the Administrative Agent
may hereafter designate in writing as such to the other parties hereto. 
 “Obligations” shall mean all amounts owing to the
Administrative Agent, the Collateral Agent or any Lender pursuant to the terms of this Agreement or any other Credit Document. 
 “Organizational Documents” shall mean, with respect to any Person, (i) in the case of any corporation, the certificate of incorporation and by-laws (or similar documents) of such Person, (ii) in the case of any limited
liability company, the certificate of formation and operating agreement (or similar documents) of such Person, (iii) in the case of any limited partnership, the certificate of formation and limited partnership agreement (or similar documents)
of such Person, (iv) in the case of any general partnership, the partnership agreement (or similar document) of such Person and (v) in any other case, the functional equivalent of the foregoing. 
 “Other Hedging Agreements” shall mean any foreign exchange contracts, currency swap agreements, commodity agreements or other similar
agreements or arrangements designed to protect against fluctuations of currency values or commodity prices. 
 “Participant
Register” shall have the meaning provided in Section 11.04(a). 
 “Patriot Act” shall have the meaning provided in
Section 11.15. 
 “Payment Office” shall mean in respect of all Loans made to the Company, Fees and, all other amounts owing
under this Agreement, the office of the Administrative Agent located at 100 Plaza One, 8th Floor, Jersey City, New Jersey 07311, or such other office as the Administrative Agent may hereafter designate in writing as such to the other parties hereto.

 “PBGC” shall mean the Pension Benefit Guaranty Corporation established pursuant to Section 4002 of ERISA, or any successor
thereto. 
 “Pension Plan” means a Plan that is also a pension plan (as defined in Section 3(2) of ERISA) subject to Title IV
of ERISA which the Company or any ERISA Affiliate sponsors, maintains, or to which it makes, is making, or is obligated to make contributions, or in the case of a Multiemployer Plan has made contributions at any time during the immediately preceding
five (5) plan years. 
 “Permitted Acquisition” shall mean the acquisition by the Company of all or substantially of the
assets, or more than 50% of the equity securities, of a Person or a business (the “Target”), in each case subject to the satisfaction of the following conditions: 
 (i)    consideration provided by the Company for such Permitted Acquisition shall consist solely of equity in the
Company (or proceeds from equity issued by the Company), and proceeds of Indebtedness permitted by Section 8.04, and/or investments permitted by Section 8.05(xv); 
 (ii)    such Permitted Acquisition shall only involve assets comprising a business, or those assets of a business, in
the lines of business conducted by the Company and its Subsidiaries 

  

 -15- 

 
on the Closing Date and any business similar, ancillary or related thereto or which constitutes a reasonable extension or expansion thereof, including in
connection with the Company’s existing and future technology, trademarks and patents, and which business would not subject the Administrative Agent or any Lender to regulatory or third party approvals in connection with the exercise of its
rights and remedies under this Agreement or any other Credit Documents other than approvals applicable to the exercise of such rights and remedies with respect to the Company prior to such Permitted Acquisition; 
 (iii)    such Permitted Acquisition shall be consensual and shall have been approved by the Target’s board of
directors; 
 (iv)    no additional Indebtedness shall be incurred, assumed or otherwise be reflected on
a consolidated balance sheet of the Company and the Target after giving effect to such Permitted Acquisition, except ordinary course payables, accrued expenses and unsecured Indebtedness of Target or as otherwise permitted by Section 8.04;

 (v)    the Target shall have positive Consolidated EBITDA (substituting the Target for the
“Company” in the definition thereof) for the trailing twelve-month period preceding the date of the Permitted Acquisition, as determined based upon the Target’s financial statements for its most recently completed fiscal year and its
most recent interim financial period completed within sixty (60) days prior to the date of consummation of such Permitted Acquisition. 
 Notwithstanding anything to the contrary contained in the immediately preceding sentence, an acquisition shall be a Permitted Acquisition only if all requirements of Section 8.05(xv) are met with respect thereto. 
 “Permitted Debt” shall mean subordinated or senior unsecured Indebtedness of the Company, provided that (a) the terms of such Indebtedness
do not provide for any scheduled repayment, mandatory redemption, sinking fund obligation or other payment prior to the maturity date of the Loans, other than customary offers to purchase upon a change of control, asset sale or casualty or
condemnation event and customary acceleration rights upon an event of default and (b) the covenants, events of default, guarantees and other terms for such Indebtedness (provided that such Indebtedness shall have interest rates and redemption
premiums determined by the board of directors of the Company to be market rates and premiums at the time of incurrence of such Indebtedness), taken as a whole, are determined by the board of directors of the Company to be market terms on the date of
incurrence and in any event are not more restrictive on the Company and the Subsidiaries, or materially less favorable to the Lenders, than the terms of the Credit Documents and do not require the maintenance or achievement of any financial
performance standards other than as a condition to taking specified actions, provided that a certificate of an Authorized Officer delivered to the Administrative Agent at least five Business Days prior to the incurrence of such Indebtedness,
together with a reasonably detailed description of the material terms and conditions of such Indebtedness and drafts of the documentation relating thereto, stating that the Company has determined in good faith that such terms and conditions satisfy
the foregoing requirement shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement unless the Administrative Agent notifies the Company within such five Business Day period that it disagrees with such
determination (including a reasonable description of the basis upon which is disagrees). 
 “Permitted Dividend Amount” shall mean,
at any time, an amount equal to the sum of (a) $15,000,000, plus (b) if positive, an amount equal to 50% of Consolidated Net Income for the period from June 1, 2007 to the end of the most recently ended fiscal quarter for which
financial statements have been delivered pursuant to Section 7.01 (a) or (b), minus if negative, 100% of such loss for such period. 
  

 -16- 

 “Permitted Encumbrance” shall mean, with respect to any Mortgaged Property, such exceptions to
title as are set forth in the title insurance policy or title commitment delivered with respect thereto, all of which exceptions must be acceptable to the Administrative Agent in its reasonable discretion. 
 “Permitted Liens” shall have the meaning provided in Section 8.01. 
 “Permitted Refinancing ABL Credit Facility” shall mean a credit facility entered into by one or more Credit Parties that refinances in fall the
ABL Loans and ABL Letters of Credit, so long as (a) such credit facility does not contain mandatory repayment provisions other than those of the type set forth in the ABL Credit Agreement and so long as same are no more restrictive on the
Company and its Subsidiaries than those contained in the ABL Credit Agreement, (b) such refinancing does not (i) increase the available credit to an amount in excess of the amount permitted by clause (vii) of Section 8.04 or
(ii) provide for any guarantees or security other than guarantees from one or more Guarantors and security in all or any portion of the Collateral, (c) to the extent then in effect, such credit facility is subject to the ABL/Term Loan
Intercreditor Agreement, and (d) the other terms and conditions thereof, when taken as a whole, are no more restrictive on the Company and its Subsidiaries than those contained in the ABL Credit Agreement. 
 “Person” shall mean any individual, partnership, joint venture, firm, corporation, association, trust or other enterprise or any government or
political subdivision or any agency, department or instrumentality thereof. 
 “Plan” shall mean any pension plan as defined in
Section 3(2) of ERISA, which is maintained or contributed to by (or to which there is an obligation to contribute of) the Company or a Subsidiary of the Company or an ERISA Affiliate, and each such plan for the five year period immediately
following the latest date on which the Company, or a Subsidiary of the Company or an ERISA Affiliate maintained, contributed to or had an obligation to contribute to such plan. 
 “Pledge Agreement” shall have the meaning provided in Section 5.07. 
 “Pledge Agreement Collateral” shall mean all “Collateral” as defined in the Pledge Agreement. 
 “Pledged Securities” shall have the meaning provided in the Pledge Agreement. 
 “Pledgee” shall have the meaning provided in the Pledge Agreement. 
 “Prime Lending Rate” shall mean the rate which DBTCA announces from time to time as its prime lending rate, the Prime Lending Rate to change
when and as such prime lending rate changes. The Prime Lending Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged to any customer. DBTCA may make commercial loans or other loans at rates of interest
at, above or below the Prime Lending Rate. 
 “Projections” shall mean the projections that are contained in the Confidential
Information Memorandum and that were prepared by or on behalf of the Company and its Subsidiaries and delivered to the Administrative Agent and the Lenders prior to the Closing Date. 
 “Qualified Credit Party” shall mean the Company and each Wholly-Owned Subsidiary Guarantor. 
  

 -17- 

 “Quarterly Payment Date” shall mean the last Business Day of each February, May, August and
November. 
 “RCRA” shall mean the Resource Conservation and Recovery Act, as amended, 42 U.S.C. § 6901 et seq.

 “Real Property” of any Person shall mean all the right, title and interest of such Person in and to land, improvements thereto
and fixtures thereon. 
 “Recovery Event” shall mean the receipt by the Company or any of its Subsidiaries of any cash insurance
proceeds or condemnation award payable (i) by reason of theft, loss, physical destruction or damage or any other similar event with respect to any Mortgaged Property, and (ii) under any policy of insurance required to be maintained under
Section 7.03 as relating to any Mortgaged Property. 
 “Refinanced Term Loans” shall have the meaning provided in
Section 11.12(d). 
 “Refinancing” shall mean the repurchase and retirement of the Senior Secured Notes pursuant to the
Existing Note Tender Offer and Consent Solicitation. 
 “Refinancing Documents” shall mean all documents entered into to effect the
Refinancing. 
 “Register” shall have the meaning provided in Section 11.14. 
 “Regulation D” shall mean Regulation D of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor
to all or a portion thereof establishing reserve requirements. 
 “Regulation T” shall mean Regulation T of the Board of Governors
of the Federal Reserve System as from time to time in effect and any successor to all or a portion thereof. 
 “Regulation U” shall
mean Regulation U of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor to all or a portion thereof. 
 “Regulation X” shall mean Regulation X of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor to all or a portion thereof. 
 “Replaced Lender” shall have the meaning provided in Section 2.13. 
 “Replacement Lender” shall have the meaning provided in Section 2.13. 
 “Replacement Term Loans” shall have the meaning provided in Section 11.12(d). 
 “Required Lenders” shall mean Lenders the sum of whose outstanding Loans constitute greater than 50% of the sum of the total outstanding Loans.

 “Returns” shall have the meaning provided hi Section 6.09. 
 “S&P” shall mean Standard & Poor’s Ratings Services. 
 “Scheduled Repayment Dates” shall have the meaning provided in Section 4.02(a). 
  

 -18- 

 “Scheduled Repayments” shall have the meaning provided in Section 4.02(a). 
 “SEC” shall mean the Securities and Exchange Commission or any successor thereto. 
 “Section 4.04(b)(ii) Certificate” shall have the meaning provided in Section 4.04(b). 
 “Secured Creditors” shall have the meaning assigned to that term in the Security Documents. 
 “Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 
 “Security Agreement” shall have the meaning provided in Section 5.08. 
 “Security Agreement Collateral” shall mean all “Collateral” as defined in each Security Agreement. 
 “Security Documents” shall mean the Pledge Agreement, the Security Agreement, each Mortgage and after the execution and delivery thereof, each
Additional Security Document and any other related document, agreement or grant pursuant to which the Company or any of its Subsidiaries grants, protects or continues a security interest in favor of the Collateral Agent for the benefit of the
Secured Creditors. 
 “Senior Secured Leverage Ratio” shall mean, at any time, the ratio of Consolidated Senior Debt at such time
to Consolidated EBITDA for the Test Period most recently ended. All calculations of the Senior Secured Leverage Ratio shall be made on pro forma basis. 
 “Senior Secured Note Indenture” shall mean the Indenture, dated as of May 28, 2003, entered into by and between the Company and The Bank of New York, as trustee thereunder, with respect to the Senior
Secured Notes. 
 “Senior Secured Notes” shall mean the 11-1/4% Senior Secured Notes due 2010 issued by the Company under the
Senior Secured Note Indenture. 
 “Stand Still Period” shall have the meaning provided in Section 9.04. 
 “Subsidiary” of a Person means any corporation, association, partnership, limited liability company, joint venture or other business entity of
which more than fifty percent (50%) of the voting stock or other equity interests (in the case of Persons other than corporations), is owned or controlled directly or indirectly by the Person, or one or more of the Subsidiaries of the Person,
or a combination thereof. Unless the context otherwise clearly requires, references herein to a “Subsidiary” refer to a Subsidiary of the Company: provided that except for Sections 6.14, 6.17, 7.01(h) and 7.12, any reference to
Subsidiary of the Company shall exclude the following interests owned by the Company: CPPC-Decorative Products Company Limited, a Thailand limited company, Decorative Products (Singapore) Pte. Ltd., a Singapore limited company, CG-Omnova Decorative
(Shanghai) Co., a Chinese enterprise, RohmNova LLC, a Delaware limited liability company, Beston OMNOVA Plastics (Taicang) Co. Ltd. and an entity to be formed for purposes of effecting transactions with the Asian Latex Businesses; provided
further that at any time that any of the foregoing entities becomes a direct or indirect Wholly-Owned Subsidiary of the Company, the Company may at its option by written notice to the Administrative Agent designate such entity a Subsidiary for
all purposes under this Agreement. 
  

 -19- 

 “Subsidiary Guarantor” shall mean each Domestic Subsidiary of the Company, whether existing on
the Closing Date or established, created or acquired after the Closing Date, unless and until such time as the respective Domestic Subsidiary is released from all of its obligations under the Subsidiary Guarantee in accordance with the terms and
provisions thereof. Notwithstanding the foregoing, no Non-Guarantor Subsidiary shall be a Subsidiary Guarantor except to the extent provided in the definition of Non-Guarantor Subsidiary. 
 “Subsidiary Guarantee” shall have the meaning provided in Section 5.09. 
 “Target” shall have the meaning provided in the definition of “Permitted Acquisition”. 
 “Taxes” shall have the meaning provided in Section 4.04(a). 
 “Test Period” shall mean, at any time, each period of four consecutive fiscal quarters of the Company then last ended (in each case taken as one accounting period). 
 “Total Commitment” shall mean, at any time, the sum of the Commitments of each of the Lenders at such time. 
 “Transaction” shall mean (i) the consummation of the Refinancing, (ii) the incurrence of the ABL Loans, if any, (iii) the
incurrence of the Loans hereunder on the Closing Date and (iv) the payment of fees and expenses in connection with the foregoing. 
 “Type” shall mean the type of Loan determined with regard to the interest option applicable thereto, i.e., whether a Base Rate Loan or a Eurodollar Loan. 
 “UCC” shall mean the Uniform Commercial Code as from time to time in effect in the relevant jurisdiction. 
 “United States” and “U.S.” shall each mean the United States of America. 
 “Weighted Average Life to Maturity” shall mean, when applied to any Indebtedness at any date, the number of years obtained by dividing
(i) the then outstanding principal amount of such Indebtedness into (ii) the sum of the products obtained by multiplying (x) the amount of each then remaining installment or other required scheduled payments of principal, including
payment at final maturity, in respect thereof, by (y) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment. 
 “Wholly-Owned Domestic Subsidiary” shall mean any Domestic Subsidiary of the Company that is a Wholly-Owned Subsidiary. 
 “Wholly-Owned Foreign Subsidiary” shall mean any Foreign Subsidiary of the Company that is a Wholly-Owned Subsidiary. 
 “Wholly-Owned Subsidiary” shall mean, as to any Person, (i) any corporation 100% of whose capital stock or other equity interests (other
than (a) director’s qualifying shares and (b) any other shares of equity interests of a Foreign Subsidiary of the Company (not to exceed 5% of such Foreign Subsidiary’s total equity interests (determined on a fully diluted basis)
required by law to be issued to Persons other than the Company and its Wholly-Owned Subsidiaries)) is at the time owned by such Person and/or one or more Wholly-Owned Subsidiaries of such Person and (ii) any partnership, limited liability
company, association, joint venture or other entity in which such Person and/or one or more Wholly-Owned 

  

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Subsidiaries of such Person has a 100% equity interest at such time (other than a portion of such equity interest of any Foreign Subsidiary (not to exceed 5%
of such Foreign Subsidiary’s total equity interest (determined on a fully diluted basis) required by law to be issued to Persons other than the Company and its Wholly-Owned Subsidiaries). 
 “Wholly-Owned Subsidiary Guarantor” shall mean, any Wholly-Owned Subsidiary of the Company which is a Subsidiary Guarantor. 
 SECTION 2.    Amount and Terms of Credit. 
 2.01    The Commitments. Subject to and upon the terms and conditions set forth herein, each Lender severally agrees to make a term loan or loans (each a “Loan” and collectively
the “Loans”) to the Company, which (i) shall be incurred pursuant to a single Borrowing on the Closing Date, (ii) shall be made and maintained in Dollars, (iii) at the option of the Company, be incurred and maintained as,
and/or converted into, Base Rate Loans or Eurodollar Loans and (iv) shall not exceed for any Lender an aggregate principal amount equal to such Lender’s Commitment as of the Closing Date. Once repaid, Loans incurred hereunder may not be
reborrowed. 
 2.02    Minimum Amount of Each Borrowing. The aggregate principal amount of each Borrowing shall
not be less than the Minimum Amount. More than one Borrowing may occur on the same date, but at no time shall there be outstanding more than five Borrowings of Eurodollar Loans hereunder (or such greater number as may be acceptable to the
Administrative Agent). 
 2.03    Notice of Borrowing. 
 (a)    The Company shall give the Administrative Agent at its Notice Office written notice (or telephonic notice promptly confirmed
in writing) of each Base Rate Loan on the date of such Base Rate Loan, and at least three Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) of each Eurodollar Loan; provided that (in each case) any
such notice shall be deemed to have been given on a certain day only if given before 11:00 A.M. (New York time) on such day. Each such written notice or written confirmation of telephonic notice (each, a “Notice of Borrowing”), shall be
irrevocable and shall be given by the Company in the form of Exhibit A, appropriately completed to specify (i) the date of such incurrence (which shall be a Business Day), (ii) the aggregate principal amount of the Loans to be made,
(iii) whether the Loans incurred pursuant to such Borrowing are to be initially maintained as Base Rate Loans, or to the extent permitted hereunder, Eurodollar Loans, and (iv) in the case of Eurodollar Loans, the initial Interest Period to
be applicable thereto. The Administrative Agent shall promptly (and in any event within one Business Day after its receipt of a Notice of Borrowing) give each Lender notice of such proposed incurrence, of such Lender’s proportionate share
thereof and of the other matters required by the immediately preceding sentence to be specified in the Notice of Borrowing. 
 (b)    Without in any way limiting the obligation of the Company to confirm in writing any telephonic notice of any incurrence of Loans, the Administrative Agent may act without liability upon the basis of telephonic
notice of such incurrence, believed by the Administrative Agent, in good faith to be from an Authorized Officer of the Company prior to receipt of written confirmation. In each such case, the Company hereby waives the right to dispute the
Administrative Agent’s record of the terms of such telephonic notice of such incurrence of Loans absent manifest error. 
 2.04    Disbursement of Funds. No later than 12:00 Noon (New York time) on the date specified in each Notice of Borrowing, each Lender will make available its pro rata portion of each such Borrowing
requested to be made on such date, in immediately available funds at the Payment Office of 

  

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the Administrative Agent. The Administrative Agent will make available to the Company at the Payment Office in immediately available funds, the aggregate of
the amounts so made available by the Lenders prior to 1:00 P.M. (New York time) on such day, to the extent of funds actually received by the Administrative Agent. Unless the Administrative Agent shall have been notified by any Lender prior to the
date of Borrowing that such Lender does not intend to make available to the Administrative Agent such Lender’s portion of any Borrowing to be made on such date, the Administrative Agent may assume that such Lender has made such amount available
to the Administrative Agent on such date of Borrowing and the Administrative Agent may, in reliance upon such assumption, make available to the Company a corresponding amount. If such corresponding amount is not in fact made available to the
Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s
demand therefor, the Administrative Agent shall promptly notify the Company and the Company shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover on demand from such
Lender or the Company, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Company until the date such corresponding amount is
recovered by the Administrative Agent, at a rate per annum equal to (i) if recovered from such Lender, the overnight Federal Funds Rate and (ii) if recovered from the Company, the rate of interest applicable to the respective Borrowing, as
determined pursuant to Section 2.08. Nothing in this Section 2.04 shall be deemed to relieve any Lender from its obligation to make Loans hereunder or to prejudice any rights which the Company may have against any Lender as a result of any
failure by such Lender to make Loans hereunder. 
 2.05    Notes. 
 (a)    At the request of any Lender, the Company’s obligation to pay the principal of, and interest on, the Loans made by such
Lender to the Company shall be evidenced by a promissory note duly executed and delivered by the Company substantially in the form of Exhibit B with blanks appropriately completed in conformity herewith (each, a “Note” and, collectively,
the “Notes”). 
 (b)    The Note issued by the Company to any Lender shall (i) be executed by the Company,
(ii) be payable to the order of such Lender and be dated the date of issuance, (iii) be in a stated principal amount equal to the aggregate initial principal amount of the Loans of such Lender, (iv) mature on the Final Maturity Date,
(v) bear interest as provided in the appropriate clause of Section 2.08 in respect of the Base Rate Loans and Eurodollar Loans, as the case may be, evidenced thereby, (vi) be subject to voluntary prepayment as provided in
Section 4.01 and mandatory repayment as provided in Section 4.02 and (vii) be entitled to the benefits of this Agreement and the Guarantees and be secured by the Security Documents. 
 (c)    Each Lender will note on its internal records the amount of each Loan made by it and each payment in respect thereof and will
prior to any transfer of any of its Notes endorse on the reverse side thereof the outstanding principal amount of Loans evidenced thereby. Failure to make any such notation shall not affect the Company’s obligations in respect of such Loans.

 (d)    Notwithstanding anything to the contrary contained above in this Section 2.05 or elsewhere in this
Agreement, Notes shall only be delivered to Lenders which at any time specifically request the delivery of such Notes. No failure of any Lender to request, obtain, maintain or produce a Note evidencing its Loans to the Company shall affect or in any
manner impair the obligations of the Company to pay the Loans (and all related Obligations) incurred by the Company which would otherwise be evidenced thereby in accordance with the requirements of this Agreement, and shall not in any way affect the
security or Guarantees therefor provided pursuant to any Credit Document. Any Lender 

  

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which does not have a Note evidencing its outstanding Loans shall in no event be required to make the notations otherwise described in preceding clause (c).
At any time when any Lender requests the delivery of a Note to evidence any of its Loans, the Company shall (at its expense) promptly execute and deliver to the respective Lender the requested Note in the appropriate amount or amounts to evidence
such Loans. 
 2.6    Conversions. The Company shall have the option to convert on any Business Day all or a
portion equal to at least the applicable Minimum Amount of the outstanding principal amount of the Loans made to the Company pursuant to one or more Borrowings of one or more Types of Loans into a Borrowing or Borrowings of another Type of Loan;
provided that (i) except as otherwise provided in Section 2.10(b), Eurodollar Loans may be converted into Base Rate Loans only on the last day of an Interest Period applicable to the Eurodollar Loans being converted and no such
partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of such Eurodollar Loans made pursuant to a single Borrowing to less than the applicable Minimum Amount, (ii) Base Rate Loans may not be converted into
Eurodollar Loans if any Default or Event of Default is in existence on the date of the conversion (unless the Administrative Agent and the Required Lenders otherwise agree) and (iii) no conversion pursuant to this Section 2.06 shall result
in a greater number of Borrowings of Eurodollar Loans than is permitted under Section 2.02. Each such conversion (other than automatic conversions pursuant to the last paragraph of Section 2.09) shall be effected by the Company giving the
Administrative Agent at its Notice Office prior to 12:00 Noon (New York time) at least three Business Days’ prior written notice (each, a “Notice of Conversion”) specifying the Loans to be so converted, the Borrowing or Borrowings
pursuant to which such Loans were made, the date of such conversion (which shall be a Business Day) and, if to be converted into Eurodollar Loans, the Interest Period to be initially applicable thereto. The Administrative Agent shall give each
Lender prompt notice of any such proposed conversion affecting any of its Loans. 
 2.07    Pro Rata Borrowings.
All Borrowings of Loans under this Agreement shall be incurred from the Lenders pro rata on the basis of their Commitments. It is understood that no Lender shall be responsible for any default by any other Lender of its obligation to
make Loans hereunder and that each Lender shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder. 
 2.08    Interest. 
 (a)    The Company agrees to pay interest in respect of the unpaid principal amount of each Base Rate Loan from the date the proceeds thereof are made available to the Company to (but excluding) the earlier of the
conversion or maturity (whether by acceleration or otherwise) of such Base Rate Loan, at a rate per annum which shall be equal to the sum of the Applicable Margin plus the Base Rate in effect from time to time. 
 (b)    The Company agrees to pay interest in respect of the unpaid principal amount of each Eurodollar Loan from the date the
proceeds thereof are made available to the Company to (but excluding) the earlier of the conversion or maturity (whether by acceleration or otherwise) of such Euro dollar Loan, at a rate per annum which shall, during each Interest Period applicable
thereto, be equal to the sum of the Applicable Margin plus the Eurodollar Rate for such Interest Period. 
 (c)    Overdue principal and, to the extent permitted by law, overdue interest in respect of each shall, in each case, bear interest at a rate per annum equal to the greater of (x) the rate which is 2% in excess of
the rate then borne by such Loans and (y) the rate which is 2% in excess of the rate otherwise applicable to Base Rate Loans from time to time, and all other overdue amounts payable hereunder and under any other Credit Document shall bear
interest at a rate per annum equal to the rate 

  

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which is 2% in excess of the rate applicable to Loans that are maintained at Base Rate Loans from time to time. Interest that accrues under this
Section 2.08(c) shall be payable on demand. 
 (d)    Accrued (and theretofore unpaid) interest shall be payable
(i) in respect of each Base Rate Loan, quarterly in arrears on each Quarterly Payment Date, (ii) in respect of each Eurodollar Loan, on the last day of each Interest Period applicable thereto and, in the case of an Interest Period in
excess of three months, on each date occurring at three month intervals after the first day of such Interest Period and (iii) in respect of each Loan, on any repayment or prepayment (on the amount repaid or prepaid), at maturity (whether by
acceleration or otherwise) and, after such maturity, on demand. 
 (e)    Upon each Interest Determination Date, the
Administrative Agent shall determine the respective interest rate for each Interest Period applicable to the Eurodollar Loans for which such determination is being made and shall promptly notify the Company and the Lenders thereof. Each such
determination shall, absent manifest error, be final and conclusive and binding on all parties hereto. 
 2.09    Interest Periods. At the time it gives any Notice of Borrowing in respect of the making of the Loans on the Closing Date, or any Notice of Conversion in respect of the conversion of any Loan (in the case
of the initial Interest Period applicable thereto) or no later than 12:00 Noon (New York time) on the third Business Day prior to the expiration of an Interest Period applicable to such Loan (in the case of any subsequent Interest Period), the
Company shall have the right to elect, by giving the Administrative Agent notice thereof, the interest period (each, an “Interest Period”) applicable to such Loan, which Interest Period shall, at the option of the Company, be a one, two,
three or six-month period, or such shorter period as the Administrative Agent may agree in its sole discretion, or if agreed upon by each Lender making such Eurodollar Loan, a nine or twelve-month period; provided that: 
 (i)    all Eurodollar Loans comprising a Borrowing shall at all times have the same Interest Period; 
 (ii)    the initial Interest Period for any Borrowing of Eurodollar Loans shall commence on the date of such
Borrowing (including the date of any conversion thereto from a Borrowing of Base Rate Loans) and each Interest Period occurring thereafter in respect of such Loans shall commence on the day on which the next preceding Interest Period applicable
thereto expires; 
 (iii)    if any Interest Period relating to a Eurodollar Loan begins on a day for
which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period shall end on the last Business Day of such calendar month; 
 (iv)    if any Interest Period would otherwise expire on a day which is not a Business Day, such Interest Period
shall expire on the next succeeding Business Day; provided, however, that if any Interest Period would otherwise expire on a day which is not a Business Day but is a day of the month after which no further Business Day occurs in such
month, such Interest Period shall expire on the next preceding Business Day; 
 (v)    no Interest Period
may be selected at any time when a Default or an Event of Default is then in existence (unless the Administrative Agent and the Required Lenders otherwise agree); and 
 (vi)    no Interest Period shall be selected which extends beyond the Final Maturity Date. 
  

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 If by 12:00 Noon (New York time) on the third Business Day prior to the expiration of any Interest Period
applicable to a Borrowing of Eurodollar Loans, the Company has failed to elect, or is not permitted to elect, a new Interest Period to be applicable to such Eurodollar Loans as provided above, the Company shall be deemed to have elected to convert
such Eurodollar Loans into Base Rate Loans effective as of the expiration date of such current Interest Period. 
 2.10    Increased Costs, Illegality, etc. 
 (a)    In the event that any Lender
shall have determined (which determination shall, absent manifest error, be final and conclusive and binding upon all parties hereto but, with respect to clause (i) below, may be made only by the Administrative Agent): 
 (i)    on any Interest Determination Date that, by reason of any changes arising after the date of this Agreement
affecting the London interbank market, adequate and fair means do not exist for ascertaining the applicable interest rate on the basis provided for in the definition of Eurodollar Rate; 
 (ii)    at any time, that such Lender shall incur increased costs or reductions in the amounts received or receivable
hereunder with respect to any Loan which such Lender deems to be material because of any change since the date of this Agreement in any applicable law or governmental rule, regulation, order, guideline or request (whether or not having the force of
law) or in the interpretation or administration thereof and including the introduction of any new law or governmental rule, regulation, order, guideline or request (a “Change in Law”), which (A) changes the basis of taxation of
payment to any Lender of the principal of or interest on such Loan or any other amounts payable hereunder (except for (I) changes in the rate of tax on, or determined by reference to, the net income or profits of such Lender, or any franchise
tax based on the net income or profits of such Lender, in either case pursuant to the laws of the jurisdiction in which such Lender is organized or in which such Lender’s principal office or applicable lending office is located or any
subdivision thereof or therein and (II) Taxes for which a payment is required pursuant to Section 4.04(a)), (B) with respect to Eurodollar Loans, changes official reserve requirements (but, in all events, excluding reserves required under
Regulation D to the extent included in the computation of the Eurodollar Rate) and/or (C) with respect to Eurodollar Loans, imposes any other condition affecting such Lender or the London interbank market or the position of such Lender in such
market; or 
 (iii)    at any time, that the making or continuance of any Eurodollar Loan has been made
(x) unlawful by any Change in Law, (y) impossible by compliance by any Lender in good faith with any governmental request made after the date of this Agreement (whether or not having force of law) or (z) impracticable as a result of a
Change in Law which materially and adversely affects the London interbank market; 
 then, and in any such event, such Lender (or the Administrative Agent,
in the case of clause (i)) shall promptly give notice (by telephone confirmed in writing) to the Company and, except in the case of clause (i) above, to the Administrative Agent of such determination (which notice the Administrative Agent shall
promptly transmit to each of the other Lenders). Thereafter (x) in the case of clause (i) above, Eurodollar Loans shall no longer be available until such time as the Administrative Agent notifies the Company and the Lenders that the
circumstances giving rise to such notice by the Administrative Agent no longer exist, and any Notice of Borrowing or Notice of Conversion given by the Company with respect to Eurodollar Loans which have not yet been incurred (including by way of
conversion) shall be deemed rescinded by the Company, (y) in the case of clause (ii) above, the Company agrees to pay to such Lender, upon written demand therefor, such additional amounts (in the form of an increased rate of, 

  

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or a different method of calculating, interest or otherwise as such Lender in its reasonable discretion shall determine) as shall be required to compensate
such Lender for such increased costs or reductions in amounts received or receivable hereunder (a written notice as to the additional amounts owed to such Lender, showing the basis for the calculation thereof, based on averaging and attribution
methods among customers which are reasonable, submitted to the Company by such Lender in good faith shall, absent manifest error, be final and conclusive and binding on all the parties hereto) and (z) in the case of clause (iii) above, the
Company shall take one of the actions specified in Section 2.10(b) as promptly as possible and, in any event, within the time period required by law. 
 (b)    At any time that any Loan is affected by the circumstances described in Section 2.10(a)(ii) or (iii), the Company may (and in the case of a Eurodollar Loan affected by the circumstances
described in Section 2.10(a)(iii) shall) either (x) if the affected Loan is then being made initially or pursuant to a conversion, cancel the respective Borrowing by giving the Administrative Agent telephonic notice (confirmed in writing)
on the same date that the Company was notified by the affected Lender or the Administrative Agent pursuant to Section 2.10(a)(ii) or (iii) or (y) if the affected Loan is then out standing, upon at least three Business Days’
written notice to the Administrative Agent and the affected Lender, require the affected Lender to convert such Loan into a Base Rate Loan or repay such Loan in full; provided, that if more than one Lender is affected at any time, then all
affected Lenders must be treated the same pursuant to this Section 2.10(b). 
 (c)    If any Lender shall have
determined that, after the date hereof, the adoption of any applicable law, rule or regulation regarding capital adequacy, or any change therein, or any change in the interpretation or administration thereof by any governmental authority, central
bank or comparable agency charged with the interpretation or administration thereof, or compliance by such Lender or any corporation controlling such Lender with any request or directive regarding capital adequacy (whether or not having the force of
law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of return on such Lender’s or such other corporation’s capital or as sets as a consequence of such Lender’s Commitment or
Loans hereunder or its obligations hereunder to a level below that which such Lender or such other corporation could have achieved but for such adoption, effectiveness, change or compliance (taking into consideration such Lender’s or such other
corporation’s policies with respect to capital adequacy), then from time to time, upon written demand by such Lender (with a copy to the Administrative Agent), accompanied by the notice referred to in the penultimate sentence of this clause
(c), the Company agrees to pay to such Lender such additional amount or amounts as will compensate such Lender or such other corporation for such reduction. In determining such additional amounts, each Lender will act reasonably and in good faith
and will use reasonable averaging and attribution methods. Each Lender, upon determining that any additional amounts will be payable pursuant to this Section 2.10(c), will give prompt written notice thereof to the Company (a copy of which shall
be sent by such Lender to the Administrative Agent), which notice shall set forth in reasonable detail the basis of the calculation of such additional amounts, although the failure to give any such notice shall not release or diminish the
Company’s obligations to pay additional amounts pursuant to this Section 2.10(c) upon the subsequent receipt of such notice except as provided in Section 2.14. A Lender’s reasonable good faith determination of compensation owing
under this Section 2.10(c) shall, absent manifest error, be final and conclusive and binding on all the parties hereto. 
 2.11    Compensation. The Company agrees to compensate each Lender, upon its written request (which request shall set forth the basis for requesting such compensation), for all reasonable losses, expenses and
liabilities (including, without limitation, any loss, expense or liability incurred by reason of the liquidation or reemployment of deposits or other funds required by such Lender to fund its Eurodollar Loans (but excluding loss of profits)) which
such Lender has sustained: (i) if for any reason (other than a default by such Lender or the Administrative Agent) a Borrowing of, or conversion from or into, Eurodollar Loans does not occur on a date specified therefor in a Notice of Borrowing
or Notice of Conversion (whether or not withdrawn by the Company); (ii) if any repayment 

  

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Conversion (whether or not withdrawn by the Company); (ii) if any repayment (including any repayment made pursuant to Section 4.01 or 4.02 or a
result of an acceleration of the Loans pursuant to Section 9 or as a result of the replacement of a Lender pursuant to Section 2.13 or 11.12(b)) or conversion of any Eurodollar Loans occurs on a date which is not the last day of an
Interest Period with respect thereto; (iii) if any prepayment of any Eurodollar Loans is not made on any date specified in a notice of prepayment given by the Company; or (iv) as a consequence of (x) any other default by the Company
to repay its Loans when required by the terms of this Agreement or any Note held by such Lender or (y) any election made pursuant to Section 2.10(b). 
 2.12    Change of Lending Office. Each Lender agrees that on the occurrence of any event giving rise to the operation of Section 2.10(a)(ii) or (iii), Section 2.10(c) or
Section 4.04 with respect to such Lender, it will, if requested by the Company, use reasonable efforts (subject to overall policy considerations of such Lender) to designate another lending office for any Loans affected by such event;
provided that such designation is made on such terms that such Lender and its lending office suffer no economic, legal or regulatory disadvantage, with the object of avoiding the consequence of the event giving rise to the operation of such
Section. Nothing in this Section 2.12 shall affect or postpone any of the obligations of the Company or the right of any Lender provided in Sections 2.10 and 4.04. 
 2.13    Replacement of Lenders. 
 (a)    (i) If any Lender
refuses to consent to certain proposed changes, waivers, discharges or terminations with respect to this Agreement which have been approved by the Required Lenders as provided in Section 11.12(b) or (ii) upon the occurrence of any event
giving rise to the operation of Section 2.10(a)(ii) or (iii), Section 2.10(c) or Section 4.04 with respect to any Lender which results in such Lender charging to the Company increased costs, the Company shall have the right, in
accordance with the requirements of Section 11.04(b), if no Event of Default will exist after giving effect to such replacement, to replace such Lender (the “Replaced Lender”) with an Eligible Transferee or Transferees (collectively,
the “Replacement Lender”), reasonably acceptable to the Administrative Agent; provided that (i) at the time of any replacement pursuant to this Section 2.13, the Replacement Lender shall enter into one or more Assignment
and Assumption Agreements pursuant to Section 11.04(b) (and with the assignment fee payable pursuant to said Section 11.04(b) to be paid by the Replacement Lender) pursuant to which the Replacement Lender shall acquire all of the Commitments
and outstanding Loans of the Replaced Lender and, in connection therewith, shall pay to (w) the Replaced Lender in respect thereof an amount equal to the sum of (A) an amount equal to the principal of, and all accrued interest on, all
outstanding Loans of the Replaced Lender and (B) an amount equal to all accrued, but theretofore unpaid, Fees owing to the Replaced Lender pursuant to Section 3.01 and (ii) all obligations of the Company owing to the Replaced Lender
(other than those specifically described in clause (i) above in respect of which the assignment purchase price has been, or is concurrently being, paid) shall be paid in full to such Replaced Lender concurrently with such replacement.

 (b)    Upon the execution of the respective Assignment and Assumption Agreements, the payment of amounts referred to
in clauses (i) and (ii) of the proviso contained in Section 2.13(a) and, if so requested by the Replacement Lender, delivery to the Replacement Lender of the appropriate Note executed by the Company, the Replacement Lender shall
become a Lender hereunder and the Replaced Lender shall cease to constitute a Lender hereunder, except with respect to indemnification provisions applicable to the Replaced Lender under this Agreement (including, without limitation, Sections 2.10,
2.11, 4.04, 11.01 and 11.06), which shall survive as to such Replaced Lender. 
 2.14    Limitations on Additional
Amounts, etc. Notwithstanding anything to the contrary contained in Section 2.10 or 2.11 of this Agreement, unless a Lender gives notice to the Company that it is obligated to pay an amount under the respective Section within 180 days after
the date such 
  

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Lender incurs the respective increased costs, loss, expense or liability, reduction in amounts received or receivable or reduction in return on capital, then
such Lender shall only be entitled to be compensated for such amount by the Company pursuant to said Section 2.10 or 2.11, as the case may be, to the extent the costs, loss, expense or liability, reduction in amounts received or receivable or
reduction in return on capital are incurred or suffered on or after the date which occurs 180 days prior to such Lender giving notice to the Company that it is obligated to pay the respective amounts pursuant to said Section 2.10 or 2.11 as the
case may be; provided that if the circumstances giving rise to such claims have a retroactive effect, then such 180-day period shall be extended to include the period of such retroactive effect. This Section 2.14 shall have no
applicability to any Section of this Agreement other than said Sections 2.10 or 2.11. 
 2.15    Incremental Term
Commitments. 
 (a)    The Company shall have the right in coordination with the Administrative Agent as to all of
the matters set forth below in this Section 2.15, but without requiring the consent of any of the Lenders, to request at any time and from time to time after the Effective Date, that one or more Lenders (and/or one or more other Persons which
are Eligible Transferees and which will become Lenders as provided below) satisfactory to the Administrative Agent (with such consent not to be unreasonably withheld) provide Incremental Term Commitments and, subject to the applicable terms and
conditions contained in this Agreement, make Incremental Loans pursuant thereto; provided, however, that (i) no Lender shall be obligated to provide an Incremental Term Commitment as a result of any such request by the Company,
and until such time, if any, as such Lender has agreed in its sole discretion to provide an Incremental Term Commitment and executed and delivered to the Administrative Agent an Incremental Term Commitment Agreement in respect thereof as provided in
clause (b) of this Section 2.15, such Lender shall not be obligated to fund any Incremental Loans, (ii) any Lender (including any Eligible Transferee who will become a Lender) may so provide an Incremental Term Commitment without the
consent of any other Lender, (iii) at the time of the incurrence of any Incremental Loans and immediately after giving effect thereto, determined on a pro forma basis, the Interest Coverage Ratio shall be greater than 2.00:1.00;
(iv) the aggregate principal amount of Incremental Loans that may be incurred under this Section 2.15 shall not exceed the greater of (A) $75,000,000 and (B) an aggregate principal amount such that, at the time of the incurrence
of any Incremental Loans and immediately after giving effect thereto, determined on a pro forma basis, the Senior Secured Leverage Ratio for the most recently ended Test Period shall be 3.75:1.00 or lower, (v) all Incremental
Loans made pursuant to an Incremental Term Commitment (and all interest, fees and other amounts payable thereon) shall be Obligations under this Agreement and the other applicable Credit Documents and shall be secured by the Security Documents, and
guaranteed under the Subsidiary Guarantee, on a pari passu basis with all other Obligations secured by the Security Documents and guaranteed under the Subsidiaries Guarantee, (vi) the maturity date of any Incremental Loans shall
not be earlier than the Final Maturity Date, (vii) the Weighted Average Life to Maturity of any such Incremental Loans shall be no shorter than the Weighted Average Life to Maturity of the existing Loans, (viii) in the event the applicable
margin on the Incremental Loans exceeds the Applicable Margin on the existing Loans by more than 50 basis points, the Applicable Margin of the existing Loans shall be automatically increased such that the difference between the applicable margin on
the Incremental Loans shall not exceed the Applicable Margin on the existing Loans by more than 50 basis points; provided that in the event that any upfront fee payable to Incremental Term Lender in connection with the Incremental Loans exceeds an
amount equal to 50 basis points on such Incremental Term Lender’s additional commitment, the Company will pay existing Lenders that are not providing an additional commitment an amount equal to the number of basis points by which the fee
payable to the Incremental Term Lender exceeds 50 basis points multiplied by the commitment of each existing Lender not providing an additional commitment (it being understood that if the Incremental Loans are sold at a discount, such discount shall
be treated as an upfront fee), and (ix) except as provided in clauses (vi)-(viii) above, the terms applicable to such Incremental Loans (including the interest rates applicable thereto) shall be as set forth in the respective Incremental
Term Commitment Agreement. 
  

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 (b)    At the time of the provision of Incremental Term Commitments pursuant to this
Section 2.15, the Company, the Administrative Agent and each such Lender or other Eligible Transferee which agrees to provide an Incremental Term Commitment (each, an “Incremental Term Lender”) shall execute and deliver to the
Administrative Agent an Incremental Term Commitment Agreement, with the effectiveness of such Incremental Term Lender’s Incremental Term Commitment to occur (and with the respective Incremental Loans to be made) on the date set forth in such
Incremental Term Commitment Agreement, which date in any event shall be no earlier than the date on which (w) all fees required to be paid in connection therewith at the time of such effectiveness shall have been paid (including, without
limitation, any agreed upon up-front or arrangement fees), (x) all Incremental Commitment Requirements are satisfied, (y) all other conditions set forth in this Section 2.15 shall have been satisfied, and (z) all other conditions
precedent that may be set forth in such Incremental Term Commitment Agreement shall have been satisfied. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Incremental Term Commitment Agreement and to the
extent requested by any Incremental Term Lender, a Note will be issued, at the Company’s expense, to such Incremental Term Lender in conformity with the requirements of Section 2.05. 
 SECTION 3.    Fees; Reductions of Commitment. 
 3.01    Fees. The Company agrees to pay to each Agent, for its own account, such fees as are agreed to in writing by the Company and each Agent from time to time. 
 3.02    Mandatory Reduction of Commitments. 
 (a)    The Commitment of each Lender shall terminate in its entirety on the Closing Date (after giving effect to the incurrence of Loans on such date). 
 (b)    Each Incremental Term Commitment made pursuant to an Incremental Term Commitment Agreement shall be terminated in its entirety
on the respective Incremental Term Commitment Date, in each case after giving effect to the making of the respective Incremental Loans on such date. 
 SECTION 4.    Prepayments; Payments; Taxes. 
 4.01    Voluntary Prepayments. The Company shall have the right to prepay Loans, without premium or penalty (except for amounts owing under Section 2.11), in whole or in part from time to time on the
following terms and conditions: 
 (i)    the Company shall give the Administrative Agent at its Notice
Office (A) at least one Business Day’s prior written notice (or telephonic notice promptly confirmed in writing) of its intent to prepay Base Rate Loans or (B) at least three Business Days’ prior written notice (or telephonic
notice promptly confirmed in writing) of its intent to prepay Eurodollar Loans, which notice (in each case) shall specify the amount of such prepayment and the Types of Loans to be prepaid and, in the case of Eurodollar Loans, the specific Borrowing
or Borrowings pursuant to which such Eurodollar Loans were made, which notice the Administrative Agent shall promptly transmit to each of the Lenders; 
 (ii)    each partial prepayment in respect of any Loans shall be in an aggregate principal amount of at least the applicable Minimum Amount and, if greater, in integral multiples as set forth in
the definition of Minimum Amount; provided that no such voluntary partial prepayment of Eurodollar Loans made pursuant to any Borrowing shall reduce the outstanding Loans made pursuant to such Borrowing to an amount less than the applicable
Minimum Amount; 
  

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 (iii)    each prepayment in respect of any Loans made pursuant to a
Borrowing shall be applied pro rata among such Loans; and 
 (iv)    each prepayment of
Loans pursuant to this Section 4.01 shall be applied to the then remaining Scheduled Repayments and Incremental Scheduled Repayments in such order as the Company shall specify to the Administrative Agent in writing at the time of such
prepayment, and if the Company fails to so specify the application of such prepayment at the time of such prepayment, then such prepayment shall be applied to reduce the then remaining Scheduled Repayments and Incremental Scheduled Repayments in
direct order of maturity (based upon the then remaining principal amount of each such Scheduled Repayment and Incremental Scheduled Repayment). 
 4.02    Mandatory Repayments. 
 (a)    (i) In addition to any other mandatory
repayments pursuant to this Section 4.02, on the last Business Day of each fiscal quarter (beginning with the last Business Day of August 2007) (each, a “Scheduled Repayment Date”), the Company shall repay a principal amount of the
Loans, to the extent then outstanding, as is set forth opposite each such fiscal quarter below or the Final Maturity Date, as applicable (each such repayment, as the same may be reduced as provided in Section 4.01 or 4.02(f), a “Scheduled
Repayment”): 
  

				
	 Scheduled Repayment Dates
	  	Amount
	 Each fiscal quarter ending from August 2007 through February 2014:
	  	$	375,000
	 The Final Maturity Date
	  	$	139,875,000

 (ii)    In addition to any other mandatory repayments pursuant
to this Section 5.02, the Company shall be required to make, with respect to Incremental Loans, to the extent then outstanding, scheduled amortization payments of such Incremental Loans on the dates and in the principal amounts set forth in the
respective Incremental Term Commitment Agreement (each such date, an “Incremental Scheduled Repayment Date”, and each such repayment, as the same may be reduced as provided in Section 4.01 and 4.02(f), an “Incremental Scheduled
Repayment”). 
 (b)    In addition to any other mandatory repayments pursuant to this Section 4.02, within one
Business Day following each date after the Closing Date upon which the Company and/or any of its Subsidiaries receives any proceeds from any incurrence of Indebtedness (excluding any Indebtedness permitted to be incurred pursuant to
Section 8.04 as such Section 8.04 is in effect on the Closing Date), an amount equal to 100% of the cash proceeds therefrom (net of underwriting discounts or placement discounts and commissions and other reasonable fees and costs
associated therewith) shall be applied as a mandatory repayment in accordance with the requirements of Sections 4.02(f) and (g). 
 (c)    In addition to any other mandatory repayments pursuant to this Section 4.02, within one Business Day following each date on and after the Closing Date upon which the Company and/or any of its Subsidiaries
receives Cash Proceeds from any Asset Sale, an amount equal to 100% of the Net Cash Proceeds therefrom shall be applied as a mandatory repayment in accordance with the requirements 

  

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of Sections 4.02(f) and (g); provided that such Net Cash Proceeds shall not be required to be so applied on such date if no Default or Event of
Default then exists and the Company delivers a certificate to the Administrative Agent on or prior to such date stating that such Net Cash Proceeds shall be used either (i) to purchase assets used or to be used in the business of the Company or
its Subsidiaries in compliance with this Agreement or (ii) to purchase equity interests in a Person engaged in a business of a type described in Section 8.10 in connection with a Permitted Acquisition, in each case within 270 days
following the date of such Asset Sale (which certificate shall set forth the estimates of the proceeds to be so expended), and provided, further, that if all or any portion of such Net Cash Proceeds not so applied in accordance with
Sections 4.02(f) and (g) are not so used within such 270 day period, such remaining portion shall be applied on the last day of such period as a mandatory repayment as provided above in this Section 4.02(c). 
 (d)    In addition to any other mandatory repayments pursuant to this Section 4.02, on each Excess Cash Payment Date, an amount
equal to the remainder of (A) applicable ECF Percentage of the Excess Cash Flow for the relevant Excess Cash Payment Period minus (B) the aggregate principal amount of all voluntary prepayments of ABL Loans and Loans (but, in the
case of the ABL Loans, only to the extent accompanied by a voluntary reduction to the “Commitments” as defined in the ABL Credit Agreement) during such period, in each case to the extent made with internally generated funds shall be
applied as a mandatory repayment in accordance with the requirements of Sections 4.02(f) and (g). 
 (e)    In addition
to any other mandatory repayments pursuant to this Section 4.02, within 10 days following each date after the Closing Date on which the Company or any of its Subsidiaries receives any proceeds from any Recovery Event, an amount equal to 100% of
the proceeds of such Recovery Event (net of reasonable costs including, without limitation, legal costs and expenses and taxes incurred in connection with such Recovery Event) shall be applied as a mandatory repayment in accordance with the
requirements of Sections 4.02(f) and (g); provided that so long as no Default or Event of Default then exists and to the extent such proceeds do not exceed $30,000,000, such proceeds shall not be required to be so applied on such date to the
extent that the Company has delivered a certificate to the Administrative Agent on or prior to such date stating that such proceeds shall be (or have been, as the case may be) used to repair, replace or restore any properties or assets in respect of
which such proceeds were paid or purchase assets used or to be used in the business of the Company or its Subsidiaries in compliance with this Agreement (i) within 360 days following the date of such Recovery Event (which certificate shall set
forth the estimates of the proceeds to be so expended) or (ii) on or after the date of the event giving rise to the relevant Recovery Event so long as such date is not more than 60 days prior to the date of such Recovery Event (which
certificate shall set forth the amounts of the proceeds actually expended); provided, further, that if all or any portion of such proceeds not required to be applied in accordance with Sections 4.02(f) and (g) pursuant to the
preceding proviso are not so used within the periods provided in the immediately preceding proviso, such remaining portion shall be applied on the last day of such period as a mandatory repayment in accordance with the requirements of Sections
4.02(f) and (g). 
 (f)    Each amount required to be applied pursuant to Sections 4.02(b), (c), (d) and (e) in
accordance with this Section 4.02(f) shall be applied to repay the outstanding principal amount of Loans; provided, however, that (x) if at the time of any mandatory repayment pursuant to this Section 4.02(f) the ABL
Borrowing Availability is less than $15,000,000 (or, in the case of amounts required to be applied pursuant to Section 4.02(d), $20,000,000), such mandatory repayment instead shall be applied (i) first, to repay the outstanding
principal amount of the ABL Loans in an amount necessary to cause the ABL Borrowing Availability to be equal to $15,000,000 (or, in the case of amounts required to be applied pursuant to Section 4.02(d), $20,000,000), and
(ii) second, to repay the outstanding principal amount of the Loans, and (y) without limiting the provisions of preceding sub-clause (x), if as part of any Asset Sale or Recovery Event, any Collateral is being sold or has been
damaged or taken (as the 

  

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case may be) that is used in calculating the Borrowing Base (as defined in the ABL Credit Agreement) then the amount of the Net Cash Proceeds from such Asset
Sale or the net proceeds from such Recovery Event (as the case may be) that is attributable to such Collateral shall be applied to the outstanding ABL Loans in an amount equal to the value of such Collateral for which credit is given in such
Borrowing Base (immediately prior to such Asset Sale or Recovery Event), and the remaining portion of such Net Cash Proceeds or net insurance proceeds shall be applied as a mandatory repayment in accordance with the requirements of Sections 4.02(c)
or (e), as the case may be. 
 (g)    With respect to each repayment of Loans required by this Section 4.02, the
Company may designate the Types of Loans which are to be repaid and, in the case of Eurodollar Loans, the specific Borrowing or Borrowings pursuant to which such Loans were made; provided that: (i) if any repayment of Eurodollar Loans
made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Amount, such Borrowing shall be immediately converted into a Borrowing of Base Rate
Loans; (ii) each repayment of any Loans made pursuant to a Borrowing shall be applied pro rata among such Loans; (iii) each repayment shall be applied to all outstanding Incremental Loans on a pro rata basis;
and (iv) each prepayment of Loans and Incremental Loans pursuant to this Section 4.02 shall be applied to the then remaining Scheduled Repayments and Incremental Scheduled Repayments in such order as the Company shall specify to the
Administrative Agent in writing at the time of such prepayment, and if the Company fails to so specify the application of such prepayment at the time of such prepayment, then such prepayment shall be applied to reduce the then remaining Scheduled
Repayments and Incremental Scheduled Repayments in direct order of maturity (based upon the then remaining principal amount of each such Scheduled Repayment and Incremental Scheduled Repayment). In the absence of a designation by the Company as
described in the preceding sentence, the Administrative Agent shall, subject to the above, make such designation in its sole discretion. 
 (h)    All outstanding Loans and Incremental Loans shall be repaid on the Final Maturity Date. 
 4.03    Method and Place of Payment. Except as otherwise specifically provided herein, all payments under this Agreement or any Note shall be made to the Administrative Agent for the account of the Lender or
Lenders entitled thereto no later than 12:00 Noon (local time in the city in which such payments are to be made) on the date when due and shall be made in Dollars in immediately available funds at the Payment Office of the Administrative Agent.
Whenever any payment to be made hereunder or under any Note shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day and, with respect to payments of principal,
interest shall be payable at the applicable rate during such extension. 
 4.04    Net Payments; Taxes.

 (a)    All payments made by or on behalf of the Company hereunder or under any Note will be made without setoff,
counterclaim or other defense. Except as provided in Section 4.04(b), all such payments will be made free and clear of, and without deduction or withholding for, any present or future taxes, levies, imposts, duties, fees, assessments or other
charges of whatever nature now or hereafter imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein with respect to such payments (but excluding, except as provided in the second succeeding sentence, any
income or franchise tax imposed on or measured by the overall net income or profits of a Lender, or any franchise tax or gross receipts taxes that are imposed in lieu of net income or net profits taxes, in either case pursuant to the laws of the
jurisdiction in which it is organized or the jurisdiction in which the principal office or applicable lending office of such Lender is located or any subdivision thereof or therein) and all interest, penalties or similar liabilities with respect
thereto (all such 

  

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non-excluded charges being referred to collectively as “Taxes”). If any Taxes are so levied or imposed, the Company agrees to pay the full amount
of such Taxes, and such additional amounts as may be necessary so that every payment of all amounts due under this Agreement or under any Note, after withholding or deduction for or on account of any Taxes, will not be less than the amount provided
for herein or in such Note. If any amounts are payable in respect of Taxes pursuant to the preceding sentence, the Company agrees to reimburse each Lender, upon the written request of such Lender, for taxes imposed on or measured by the net income
of such Lender pursuant to the laws of the jurisdiction or any political subdivision or taxing authority thereof or therein in which such Lender is organized or in which the principal office or applicable lending office of such Lender is located as
such Lender shall determine are payable by, or withheld from, such Lender in respect of such amounts so paid to or on behalf of such Lender pursuant to the preceding sentence and in respect of any amounts paid to or on behalf of such Lender pursuant
to this sentence. The Company will furnish to the Administrative Agent within 45 days after the date of the payment of any Taxes is due pursuant to applicable law certified copies of tax receipts evidencing such payment by the Company. The Company
agrees to indemnify and hold harmless each Lender and the Administrative Agent, and reimburse such Lender or Administrative Agent within 10 days after its written request, for the amount of any Taxes so levied or imposed and paid by such Lender or
Administrative Agent, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate setting forth the amount of such payment or liability and the reasons therefore in reasonable detail
delivered to Company by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 
 (b)    Each Lender that is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) agrees to
deliver to the Company and the Administrative Agent on or prior to the Closing Date, or in the case of a Lender that is an assignee or transferee of an interest under this Agreement pursuant to Section 2.13 or 11.04 (unless the respective
Lender was already a Lender hereunder immediately prior to such assignment or transfer), on the date of such assignment or transfer to such Lender, (i) to the extent permitted by law, two accurate and complete original signed copies of Internal
Revenue Service Form W-8ECI or Form W-8BEN (with respect to a complete exemption under an income tax treaty) (or successor forms) certifying to such Lender’s entitlement as of such date to a complete exemption from United States withholding tax
with respect to payments to be made under this Agreement and under any Note or (ii) to the extent permitted by law, if the Lender is not a “Lender” within the meaning of Section 881(c)(3)(A) of the Code and cannot deliver either
Internal Revenue Service Form W-8ECI or Form W-8BEN (with respect to a complete exemption under an income tax treaty) pursuant to clause (i) above, (x) a certificate substantially in the form of Exhibit C (any such certificate, a
“Section 4.04(b)(ii) Certificate”) and (y) two accurate and complete original signed copies of Internal Revenue Service Form W-8BEN (with respect to the portfolio interest exemption) (or successor form) certifying to such
Lender’s entitlement as of such date to a complete exemption from United States withholding tax with respect to payments of interest to be made under this Agreement and under any Note. In addition, each Lender agrees that from time to time
after the Closing Date, when a lapse in time or change in circumstances renders the previous certification obsolete or inaccurate in any material respect, it will deliver to the Company and the Administrative Agent, to the extent permitted by law,
two new accurate and complete original signed copies of Internal Revenue Service Form W-8ECI or Form W-8BEN (with respect to a complete exemption under an income tax treaty), or Form W-8BEN (with respect to the portfolio interest exemption) and a
Section 4.04(b)(ii) Certificate, as the case may be, and such other forms as may be required in order to confirm or establish the entitlement of such Lender to a continued exemption from or reduction in United States withholding tax with
respect to payments under this Agreement and any Note or it shall immediately notify the Company and the Administrative Agent of its inability to deliver any such Form or Certificate in which case such Lender shall not be required to deliver any
such Form or Certificate pursuant to this Section 4.04(b). Notwithstanding anything to the contrary contained in Section 4.04(a), but subject to Section 11.04(b) and the immediately succeeding 

  

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sentence, (x) the Company shall be entitled, to the extent it is required to do so by law, to deduct or withhold income or similar taxes imposed by the
United States (or any political subdivision or taxing authority thereof or therein) from interest, Fees or other amounts payable hereunder for the account of any Lender which is not a United States person (as such term is defined in
Section 7701(a)(30) of the Code) for U.S. Federal income tax purposes to the extent that such Lender has not provided to the Company U.S. Internal Revenue Service Forms that establish a complete exemption from such deduction or withholding and
(y) the Company shall not be obligated pursuant to Section 4.04(a) to gross-up payments to be made to a Lender in respect of income or similar taxes imposed by the United States if (I) such Lender has not provided to the Company the
Internal Revenue Service Forms required to be provided to the Company pursuant to this Section 4.04(b) or (II) in the case of a payment, other than interest, to a Lender described in clause (ii) above, to the extent that such Forms do not
establish a complete exemption from withholding of such taxes. Notwithstanding anything to the contrary contained in the preceding sentence or elsewhere in this Section 4.04 and except as set forth in Section 11.04(b), the Company agrees
to pay additional amounts and to indemnify each Lender in the manner set forth in Section 4.04(a) (without regard to the identity of the jurisdiction requiring the deduction or withholding) in respect of any amounts deducted or withheld by it
as described in the immediately preceding sentence as a result of any changes after the Closing Date in any applicable law, treaty, governmental rule, regulation, guideline or order, or in the interpretation thereof, relating to the deducting or
withholding of such income or similar Taxes. 
 (c)    If the Company pays any additional amount under this
Section 4.04 to a Lender and such Lender determines in its sole discretion that it has actually received or realized in connection therewith any refund or any reduction of, or credit against, its Tax liabilities in or with respect to the
taxable year in which the additional amount is paid (a “Tax Benefit”), such Lender shall pay to the Company an amount that the Lender shall, in its sole discretion, determine is equal to the net benefit, after tax, which was obtained by
the Lender in such year as a consequence of such Tax Benefit; provided, however, that (i) any Lender may determine in its sole discretion consistent with the policies of such Lender whether to seek a Tax Benefit; (ii) any
Taxes that are imposed on a Lender as a result of a disallowance or reduction (including through the expiration of any tax carryover or carryback of such Lender that otherwise would not have expired) of any Tax Benefit with respect to which such
Lender has made a payment to the Company pursuant to this Section 4.04(c) shall be treated as a Tax for which the Company is obligated to indemnify such Lender pursuant to this Section 5.04 without any exclusions or defenses;
(iii) nothing in this Section 4.04(c) shall require a Lender to disclose any confidential information to the Company (including, without limitation, its tax returns); and (iv) no Lender shall be required to pay any amounts pursuant to
this Section 4.04(c) at any time a Default or Event of Default exists. Notwithstanding anything to the contrary, in no event will any Lender be required to pay any amount to the Company the payment of which would place such Lender in a less
favorable net after-tax position than such Lender would have been in if the additional amounts giving rise to such refund of Taxes had never been paid. 
 SECTION 5.    Conditions Precedent to Closing Date. The obligation of each Lender to make Loans is subject to the satisfaction of the following conditions: 
 5.01    Execution of Agreement; Notes. On or prior to the Closing Date (i) this Agreement shall have been executed and
delivered as provided in Section 11.10 and (ii) there shall have been delivered to the Administrative Agent for the account of each of the Lenders requesting them the appropriate Notes in each case executed by the Company and in the
amount, maturity and as otherwise provided herein. 
 5.02    No Default; Representations and Warranties. On the
Closing Date and also after giving effect to each Credit Event on such date, (i) there shall exist no Default or Event of Default and (ii) 

  

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all representations and warranties contained herein or in the other Credit Documents shall be true and correct in all material respects. 
 5.03    Officer’s Certificate. On the Closing Date, the Administrative Agent shall have received a certificate dated such
date signed by the President or any Vice President of the Company stating that all of the applicable conditions set forth in Section 5.02, Section 5.06 and 5.11 have been met. 
 5.04    Opinions of Counsel. On the Closing Date, the Administrative Agent shall have received (i) from Frost Brown Todd
LLC, counsel to the Company and its Subsidiaries, an opinion addressed to the Administrative Agent, the Collateral Agent and each of the Lenders and dated the Closing Date covering the matters set forth in Exhibit D and (ii) from local counsel
to the Company and its Subsidiaries reasonably satisfactory to the Administrative Agent, opinions addressed to the Administrative Agent, the Collateral Agent and each of the Lenders and dated the Closing Date, each of which shall be in form and
substance reasonably satisfactory to the Administrative Agent and shall cover such matters incident to the transactions contemplated herein and in the other Credit Documents as the Administrative Agent may reasonably request. 
 5.05    Corporate Documents; Proceedings. 
 (a)    On the Closing Date, the Administrative Agent shall have received a certificate, dated the Closing Date, signed by an Authorized Officer of each Credit Party, and attested to by the
Secretary or any Assistant Secretary of such Credit Party, substantially in the form of Exhibit E with appropriate insertions, together with copies of the Certificate of Incorporation and By-Laws (or their equivalents) of such Credit Party and the
resolutions of such Credit Party referred to in such certificate, and the foregoing shall be reasonably acceptable to the Administrative Agent. 
 (b)    All Business and legal proceedings and all instruments and agreements relating to the transactions contemplated by this Agreement and the other Documents shall be reasonably satisfactory in form and substance to
the Administrative Agent, and the Administrative Agent shall have received all information and copies of all documents and papers, including records of Business proceedings, governmental approvals, good standing certificates and bring-down
certificates, if any, which the Administrative Agent may have reasonably requested in connection therewith, such documents and papers where appropriate to be certified by proper Business or governmental authorities. 
 5.06    Consummation of the Transaction. 
 (a)    On or prior to the Closing Date, the Company and certain of its Subsidiaries shall have amended the ABL Credit Agreement and shall have incurred the additional ABL Loans, if any, thereunder.
All terms and conditions (and the documentation) in connection with the incurrence of the ABL Loans (including, without limitation, amortization, maturities, interest rate, interest periods, covenants, defaults, remedies and other terms) shall be
reasonably satisfactory to the Administrative Agent and all conditions precedent to the incurrence of the ABL Loans as set forth in the ABL Credit Documents shall have been satisfied (and not waived without the consent of the Administrative Agent)
to the reasonable satisfaction of the Administrative Agent. The incurrence of the additional ABL Loans shall have been consummated in all material respects in accordance with the terms and conditions of the ABL Credit Documents and all applicable
laws. 
 (b)    All requisite material Governmental Authorities and third parties shall have approved or consented to the
Transactions, all applicable waiting or appeal periods (including any extensions thereof) shall have expired and there shall be no governmental or judicial action, actual or threatened, 

  

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that could reasonably be expected to restrain, prevent or impose materially burdensome conditions on the Transactions. 
 (c)    On or prior to the Closing Date, the Company shall have consummated the Existing Note Tender Offer and Consent Solicitation
and, on the Closing Date all obligations of the Company and its Subsidiaries with respect to the Senior Secured Notes shall have been paid in full or to the extent not tendered, irrevocably called for redemption (the “Refinancing”), and
all commitments, security interests and guarantees in connection therewith shall have been terminated and released, all to the reasonable satisfaction of the Lenders. The Administrative Agent shall have received satisfactory evidence (including
satisfactory pay-off letters, mortgage releases, intellectual property releases and UCC-3 termination statements) that the matters set forth in the immediately preceding sentence have been satisfied as of the Closing Date. 
 (d)    On the Closing Date and after giving effect to the consummation of each component of the Transaction to be consummated on or
prior to the Closing Date, the Company and its Subsidiaries shall have no indebtedness for money borrowed or preferred stock outstanding other than (i) the Loans, (ii) the ABL Loans and ABL Letters of Credit, (iii) intercompany
Indebtedness among the Credit Parties and (iv) certain other indebtedness existing on the Closing Date as listed on Schedule 5.06(d) (with the Indebtedness described in sub-clause (i) in respect of the ABL Letters of Credit and subclauses
(iii) and (iv) being herein called the “Existing Indebtedness”). On and as of the Closing Date, all of the Existing Indebtedness shall remain outstanding after giving effect to the Transaction and the other transactions
contemplated hereby without any default or event of default existing thereunder or arising as a result of the Transaction and the other transactions contemplated hereby (except to the extent amended or waived by the parties thereto on terms and
conditions satisfactory to the Administrative Agent), and there shall not have been any amendments or modifications to the ABL Loan Credit Documents or any other Debt Agreements other than as requested or approved by the Administrative Agent.

 (e)    On or prior to the Closing Date, all material conditions precedent to the consummation of the Transaction as is
set forth in the documentation related thereto shall have been satisfied and not waived. 
 5.07    Pledge
Agreement. On the Closing Date, each Credit Party shall have duly authorized, executed and delivered a Pledge Agreement substantially in the form of Exhibit F (as modified, supplemented or amended from time to time, the “Pledge
Agreement”). 
 5.08    Security Agreement. On the Closing Date, each Credit Party shall have duly
authorized, executed and delivered a Security Agreement substantially in the form of Exhibit G (as modified, supplemented or amended from time to time, the “Security Agreement”) covering all of such Credit Party’s present and future
Security Agreement Collateral, together with: 
 (i)    proper financing statements (Form UCC-1 or such
other financing statements or similar notices as shall be required by local law) fully executed (to the extent necessary) for filing under the UCC or other appropriate filing offices of each jurisdiction as may be necessary or, in the reasonable
opinion of the Collateral Agent, desirable to perfect the security interests purported to be created by the Security Agreement; and 
 (ii)    certified copies of Requests for Information or Copies (Form UCC-11), or equivalent reports, listing all judgment liens, tax liens or effective financing statements that name the Company or any of its
Subsidiaries, as debtor and that are filed in the jurisdictions referred to in said clause (i), together with copies of such other financing statements (none of which shall cover the Collateral except to the extent evidencing Permitted Liens or for
which the Collateral 

  

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Agent shall receive termination statements (Form UCC-3 or such other termination statements as shall be required by local law) fully executed (to the extent
necessary) for filing). 
 5.09    Subsidiary Guarantee. On the Closing Date, each Subsidiary Guarantor shall have
duly authorized, executed and delivered a guarantee substantially in the form of Exhibit H (as modified, supplemented and/or amended from time to time, the “Subsidiary Guarantee”) and the Subsidiary Guarantee shall be in full force and
effect. 
 5.10    Intercreditor Agreement. On the Closing Date, each Credit Party, the Collateral Agent (for and
on behalf of the Secured Creditors) and the ABL Collateral Agent (for and on behalf of the lenders under the ABL Credit Agreement and JPMorgan Chase Bank, N.A., as administrative agent under the ABL Credit Agreement) shall have duly authorized,
executed and delivered the ABL/Term Loan Intercreditor Agreement in the form of Exhibit K (as amended, modified, restated and/or supplemented from time to time, the “ABL/Term Loan Intercreditor Agreement”), and the ABL/Term Loan
Intercreditor Agreement shall be in full force and effect. 
 5.11    Material Adverse Change, etc. Since
November 30, 2006, nothing shall have occurred (and the Lenders shall not have become aware of any facts or conditions not previously known) which the Lenders shall determine has had, or could reasonably be expected to have, a Material Adverse
Effect. 
 5.12    Fees, etc. On the Closing Date, the Company shall have paid in full to the Administrative Agent
and the Lenders all costs, fees and expenses (including, without limitation, all reasonable legal fees and expenses) payable to the Administrative Agent and the Lenders to the extent then due pursuant hereto or as otherwise agreed between the
Company and the Administrative Agent. 
 5.13    Financial Statements; Pro Forma Financials; Projections. On or
prior to the Closing Date, the Administrative Agent shall have received true and correct copies of the historical financial statements, the pro forma financial statements and the Projections referred to in Sections 6.05(a),
(c) and (d), which historical financial statements, pro forma financial statements and Projections shall be in form and substance reasonably satisfactory to the Administrative Agent and the Required Lenders. 
 5.14    Solvency Certificate. On the Closing Date, the Administrative Agent shall have received a solvency certificate from
the chief financial officer of the Company in the form of Exhibit L. 
 5.15    Notice of Borrowing. Prior to the
making of the Loans, the Administrative Agent shall have received a Notice of Borrowing meeting the requirements of Section 2.03(a). 
 5.16    Insurance. The Administrative Agent shall have received evidence that the insurance required by Section 6.22 is in effect. 
 5.17    No Conflicts. The consummation of the Transactions shall not (i) violate any applicable law, statute, rule or
regulation or (ii) conflict with, or result in a default or event of default under, any material agreement of the Company or any Subsidiary, after giving effect to the Transactions, in each case which could reasonably be expected to
(1) result in a Material Adverse Effect on the Company and its Subsidiaries, taken as a whole, or (2) a materially impair the ability of the Company to perform its obligations under this Agreement. 
 5.18    Litigation. There shall be no litigation, arbitration, administrative proceeding or consent decree that could
reasonably be expected to (1) have a Material Adverse Effect on the Company 

  

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and its Subsidiaries, taken as a whole, or (2) materially impair the ability of the parties to consummate the Transactions. 
 5.19    Margin Regulations. After giving effect to the Transactions, including the making of Loans and the use of proceeds
thereof, the Company shall not be in violation of the provisions of Regulation T, U or X of the Board of Governors of the Federal Reserve System. 
 SECTION 6.    Representations and Warranties. In order to induce the Lenders to enter into this Agreement and to make the Loans as provided herein, the Company makes the following representations and warranties,
on behalf of itself and its Subsidiaries, in each case after giving effect to the Transaction consummated on the Closing Date, with the occurrence of each Credit Event on the Closing Date being deemed to constitute a representation and warranty that
the matters specified in this Section 6 are true and correct in all material respects on and as of the Closing Date (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date shall be
required to be true and correct in all material respects only as of such specified date): 
 6.01    Status. Each
of the Company and its Subsidiaries (i) is a duly organized and validly existing corporation, limited partnership or limited liability company in good standing under the laws of the jurisdiction of its organization, except where the failure to
be in good standing could not reasonably be expected to have a Material Adverse Effect, (ii) has the corporate, limited partnership or company power and authority to own its property and assets and to transact the business in which it is
engaged and presently proposes to engage and (iii) is duly qualified and is authorized to do business and is in good standing in each jurisdiction where the conduct of its business requires such qualifications except for failures to be so
qualified which, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 
 6.02    Power and Authority. Each Credit Party has the corporate, limited partnership or limited liability company power and authority to execute, deliver and perform the terms and provisions of each of the
Documents to which it is party and has taken all necessary corporate, partnership or limited liability company action to authorize the execution, delivery and performance by it of each such Document. Each Credit Party has duly executed and delivered
each of the Documents to which it is party, and each such Document constitutes the legal, valid and binding obligation of such Credit Party enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, reorganization,
fraudulent conveyance, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (regardless of whether considered in proceedings in equity or at law) and an implied covenant of good
faith and fair dealing. 
 6.03    No Violation. Neither the execution, delivery or performance by any Credit
Party of the Documents to which it is a party, nor compliance by it with the terms and provisions thereof, (i) will contravene any provision of any applicable law, statute, rule or regulation or any applicable order, writ, injunction or decree
of any court or governmental instrumentality, (ii) will conflict with, or result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the
obligation to create or impose) any Lien (except pursuant to the Security Documents and the ABL Security Documents) upon any of the properties or assets of the Company or any of its Subsidiaries pursuant to the terms of any indenture, mortgage, deed
of trust, credit agreement or loan agreement, or any other material agreement, contract or instrument, to which the Company or any of its Subsidiaries is a party or by which it or any of its property or assets is bound or to which it may be subject
or (iii) will violate any provision of the certificate of incorporation or by-laws or other organizational documents, as applicable, of the Company or any of its Subsidiaries. 
  

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 6.04    Governmental Approvals. No order, consent, approval, license,
authorization or validation of, or filing, recording or registration with, or exemption by, any governmental or public body or authority, or any subdivision thereof, is required (i) to authorize, or is required in connection with, the
execution, delivery and performance of any Document by any Credit Party or (ii) to ensure the legality, validity, binding effect or enforceability of any such Document with respect to any Credit Party, except those (A) which have been
obtained or made, (B) the absence of which, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect or (C) for filings and recordings required to perfect the security interests created
under the Security Document and, the ABL Security Documents. 
 6.05    Financial Statements; Financial Condition;
Undisclosed Liabilities; Projections; etc. 
 (a)    (i) The audited consolidated balance sheet of the Company and
its Subsidiaries for the fiscal year of the Company ended November 30, 2006 and the related consolidated statements of income, cash flows and shareholders’ equity of the Company and its Subsidiaries for such fiscal year, and (ii) the
unaudited consolidated balance sheet of the Company and its Subsidiaries for the fiscal quarter of the Company ended February 28, 2007 and the related consolidated statements of income and cash flows of the Company and its Subsidiaries for such
fiscal quarter, copies of which in each case have been furnished to the Administrative Agent and each Lender prior to the Closing Date, present fairly in all material respects the consolidated financial condition of the Company and its Subsidiaries
at the dates of said financial statements and the results for the periods covered thereby, subject, in the case of the unaudited financial statements, to normal year-end adjustments. All such financial statements have been prepared in accordance
with generally accepted accounting principles consistently applied, except to the extent provided in the notes to said financial statements. 
 (b)    On and as of the Closing Date, on a pro forma basis after giving effect to the Transaction and to all Indebtedness incurred, and to be incurred (including, without limitation, the Loans and the
additional ABL Loans, if any,) and Liens created, and to be created, by each Credit Party in connection therewith, with respect to each of the Company and its Subsidiaries (on a consolidated basis) (x) the sum of the assets, at Fair Value, of
each of the Company and its Subsidiaries (on a consolidated basis) will exceed their debts, (y) they have not incurred nor intended to, nor believe that they will, incur debts beyond their ability to pay such debts as such debts mature and
(z) they will have sufficient capital with which to conduct their business. For purposes of this Section 6.05(b), (A) “debt” means any liability on a claim, and “claim” means (i) right to payment whether or
not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (ii) right to an equitable remedy for breach of performance if such breach
gives rise to a payment, whether or not such right to an equitable remedy is reduced to judgment, fixed contingent, matured, unmatured, disputed, undisputed, secured or unsecured, and (B) the amount of any contingent liability at any time shall
be computed as the amount that, in light of all facts and circumstances existing at such time (including after giving effect to any claims of contribution, subrogation or other reimbursement rights), can reasonably be expected to become a
liquidated, matured and fixed liability to the extent such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5. 
 (c)    The pro forma consolidated balance sheet of the Company as of February 28, 2007 as reflected in the
Confidential Information Memorandum, a copy of which has heretofore been furnished to each Lender, presents good faith estimate of the consolidated pro forma financial condition of the Company after giving effect to the Transaction at
the date thereof. 
  

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 (d)    The Projections are based on good faith estimates and assumptions made by the
management of the Company, and on the Closing Date such management believed that the Projections were reasonable and attainable, it being recognized by the Lenders, however, that projections as to future events are not to be viewed as facts and that
the actual results during the period or periods covered by the Projections probably will differ from the projected results and that the differences may be material. 
 (e)    Except (i) as fully disclosed in the financial statements referred to in Section 6.05(a)(i) and (ii) for the Indebtedness permitted pursuant to Section 8.04, there were
as of the Closing Date no liabilities or obligations with respect to the Company or any of its Subsidiaries of any nature whatsoever (whether absolute, accrued, contingent or otherwise and whether or not due) which, either individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect. As of the Closing Date and except for the Indebtedness permitted pursuant to Section 8.04, the Company knows of no reasonable basis for the assertion against it or any
of its Subsidiaries of any liability or obligation of any nature whatsoever that is not fully disclosed in the financial statements referred to in Section 6.05(a) which, either individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect. 
 (f)    After giving effect to the Transaction, since November 30, 2006, there has been
no change in the condition (financial or otherwise), business, operations, assets or liabilities of the Company or any of its Subsidiaries that has had, or could reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. 
 6.06    Litigation. There are no actions, suits or proceedings pending or, to the best
knowledge of the Company or any of its Subsidiaries, threatened (i) with respect to any Document or (ii) that could reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect. 
 6.07    True and Complete Disclosure. All factual information (taken as a whole) furnished by or on behalf of the Company or
any of its Subsidiaries in writing to the Administrative Agent or any Lender (including, without limitation, all information contained in the Credit Documents) for purposes of or in connection with this Agreement, the other Credit Documents or any
transaction contemplated herein or therein is true and accurate in all material respects on the date as of which such information is dated or certified and not incomplete by omitting to state any fact necessary to make such information (taken as a
whole) not misleading in any material respect at such time in light of the circumstances under which such information was provided. 
 6.08    Use of Proceeds; Margin Regulations. 
 (a)    All proceeds of Loans shall be
used by the Company (i) to effect the Transaction and (ii) to pay fees and expenses related to the Transaction. 
 (b)    The proceeds of Incremental Loans shall be utilized for the general corporate purposes of the Company and its Subsidiaries (including, without limitation, to finance Permitted Acquisitions, to pay fees and
expenses in connection therewith and to prepay or repay the ABL Loans and other Indebtedness to the extent permitted by this Agreement). 
 (c)    No part of the proceeds of any Loan or Incremental Loan will be used to purchase or carry any Margin Stock or to extend credit for the purpose of purchasing or carrying any Margin Stock. The making of any Loan or
Incremental Loan and the use of the proceeds thereof will not violate or be inconsistent with the provisions of Regulation T, U or X of the Board of Governors of the Federal Reserve System. 
  

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 6.09    Tax Returns and Payments. Each of the Company and each of its
Subsidiaries has timely filed or caused to be timely filed (including pursuant to any valid extensions of time for filing) with the appropriate taxing authority, all material returns, statements, forms and reports for taxes (the “Returns”)
required to be filed by or with respect to the income, properties or operations of each of the Company and its Subsidiaries, as the case may be. The Returns accurately reflect in all material respects all liability for taxes of the Company and its
Subsidiaries as a whole for the periods covered thereby. Each of the Company and its Subsidiaries have paid all material taxes payable by them (including in its capacity as withholding agent) which have become due other than those contested in good
faith and for which adequate reserves have been established in accordance with generally accepted accounting principles and which would not individually or in the aggregate cause a Material Adverse Effect. There is no action, suit, proceeding,
investigation, audit, or claim now pending regarding any material taxes relating to the Company or any of its Subsidiaries. As of the Closing Date, neither the Company, the Company nor any of their Subsidiaries has entered into an agreement or
waiver or been requested to enter into an agreement or waiver extending any statute of limitations relating to the payment or collection of any material taxes of the Company or any of its Subsidiaries. None of the Company or any of its Subsidiaries
has incurred, or will incur, any material tax liability in connection with the Transaction or any other transactions contemplated hereby (it being understood that the representation contained in this sentence does not cover any future tax
liabilities of the Company or any of its Subsidiaries arising as a result of the operation of their businesses in the ordinary course of business). The Company and each of its Subsidiaries have made adequate provision in accordance with GAAP for all
material Taxes not yet due and payable. Neither the Company nor any of its Subsidiaries have ever been a party to any understanding or arrangement constituting a “tax shelter” within the meaning of Section 6111(c),
Section 6111(d) or Section 6662(d)(2)(C)(iii) of the Code, or has ever “participated” in a “reportable transaction” within the meaning of Treasury Regulation Section 1.6011-4, except as could not be reasonably
expected to, individually or in the aggregate, result in a Material Adverse Effect. 
 6.10    ERISA. No ERISA
Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to have a Material Adverse Effect. The present value
of all accumulated benefit obligations under each Plan (other than a Multiemployer Plan) that is subject to Title IV of ERISA (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of
November 30, 2006, exceed the fair market value of the assets of such Plan by more than $5,000,000. The Company and its Subsidiaries are in compliance in all material respects with the presently applicable provisions of ERISA and the Code with
respect to each Employee Benefit Plan. Using actuarial assumptions and computation methods consistent with subpart 1 of subtitle E of Title IV of ERISA, the aggregate liabilities of the Company and each ERISA Affiliate to all Multiemployer Plans in
the event of a complete withdrawal therefrom, as of the close of the most recent fiscal year of each such Multiemployer Plan, would not reasonably be expected to result in a Material Adverse Effect. 
 6.11    The Security Documents. 
 (a)    The provisions of the Security Agreement are effective to create in favor of the Collateral Agent for the benefit of the Secured Creditors a legal, valid and enforceable security interest
in, and/or Lien on, all right, title and interest of each Credit Party in all of the Security Agreement Collateral described therein, and each Security Agreement (upon satisfaction of any filing or other requirements set forth therein) creates a
fully perfected First Priority Lien on, and/or security interest in, all right, title and interest of such Credit Party in all of the Security Agreement Collateral described therein to the extent the Security Agreement Collateral consists of the
type of property in which a security interest may be perfected by filing a financing statement under the UCC, subject to no other Liens other than Permitted Liens (and subject to the terms of the ABL/Term Loan Intercreditor Agreement). The
recordation of the Assignment of Security Interest in U.S. Patents and Trademarks in the form attached to the 

  

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Security Agreement in the United States Patent and Trademark Office together with filings on Form UCC-1 made pursuant to the Security Agreement will be
effective, under applicable law, to perfect the security interest granted to the Collateral Agent in the trademarks and patents covered by the Security Agreement. 
 (b)    The security interests created in favor of the Collateral Agent, as Pledgee, for the benefit of the Secured Creditors under the Pledge Agreement constitute (upon satisfaction of any filing,
delivery or other requirements in respect of the stock issued by any Foreign Subsidiary) first priority perfected security interests in the Pledged Securities (assuming, in respect of certificated stock and securities constituting promissory notes,
the Collateral Agent’s continuous possession thereof) described in the Pledge Agreement, subject to no security interests of any other Person (other than Permitted Liens (and subject to the terms of the ABL/Term Loan Intercreditor Agreement)
described in clauses (y) and (z) of Section 8.01(v)). Except as provided in the immediately preceding sentence, no filings or recordings are required in order to perfect (or maintain the perfection or priority of) the security
interests created in the Pledged Securities and the proceeds thereof under the Pledge Agreement (other than filings of proper UCC-1 Financing Statements in respect of the Pledged Securities constituting promissory notes and uncertificated equity
interests, which filings have been made). 
 (c)    Each of the Mortgages will create, upon the filing thereof, as
security for the obligations purported to be secured thereby, a valid and enforceable (upon satisfaction of any filing or other requirements set forth therein) and perfected first priority mortgage lien and security interest in the respective
Mortgaged Property in favor of the Collateral Agent (or such other trustee as may be required or desired under local law) for the benefit of the Secured Creditors, superior to and prior to the rights of all third Persons and subject to no other
Liens (except Permitted Liens). 
 6.12    Properties. All Real Property owned or leased by the Company or any of
its Domestic Subsidiaries as of the Closing Date, and the nature of the interest therein, is set forth in Schedule 7.16(a). Each of the Company and each of its Subsidiaries has good and marketable title to all material properties owned by it, and a
valid leasehold interest in all material property leased by it, including (in each case) all material property reflected in the most recent historical balance sheets referred to in Section 6.05(a) (except as sold or otherwise disposed of since
the date of such balance sheet in the ordinary course of business or as permitted by the terms of this Agreement), free and clear of all Liens, other than Permitted Liens. 
 6.13    Capitalization. On the Closing Date, the authorized capital stock of the Company be as disclosed in the Company’s
Form 10-K (as amended by the Form 10-K/A) for the fiscal year ended November 30, 2006. All such outstanding capital stock has been duly and validly issued and, except as set forth on Schedule 6.13, are free of preemptive rights and subject to
no security interests of any other Person (other than Permitted Liens). Except as set forth on Schedule 6.13, neither the Company nor any of its Subsidiaries has outstanding any securities convertible into or exchangeable for its membership
interests or outstanding any rights to subscribe for or to purchase, or any options for the purchase of, or any agreements providing for the issuance (contingent or otherwise) of, or any calls, commitments or claims of any character relating to, its
membership interests. 
 6.14    Subsidiaries. Schedule 6.14 lists each Subsidiary of the Company, and the direct
and indirect ownership interest of the Company therein, in each case as of the Closing Date. 
 6.15    Compliance
with Statutes, etc. Each of the Company and each of its Subsidiaries is in compliance with all applicable statutes, regulations and orders of, and all applicable restrictions imposed by, all governmental bodies, domestic or foreign, in respect
of the conduct of its business and the 

  

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ownership of its property, except such noncompliances as could not, either individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. 
 6.16    Investment Company Act. Neither the Company nor any of its Subsidiaries is an
“investment company” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended. 
 6.17    Environmental Matters. 
 (a)    Each of the Company and each of its Subsidiaries has complied and is in compliance with and has no liability under Environmental Law, and has obtained and is in compliance with the
requirements of any permits issued under such Environmental Law. There is no past, pending or, to the best knowledge of the Company or any of its Subsidiaries, threatened Environmental Claim against the Company or any of its Subsidiaries or any Real
Property currently or, to the best knowledge of the Company or any of its Subsidiaries, previously owned or operated by the Company or any of its Subsidiaries or any of their respective predecessors in interest. There are no facts, circumstances,
conditions or occurrences on any Real Property currently owned or operated by the Company or any of its Subsidiaries or, to the best knowledge of the Company or any of its Subsidiaries, on any formerly owned or operated Real Property or any property
adjoining or in the vicinity of any currently owned or operated Real Property that could reasonably be expected (i) to form the basis of an Environmental Claim against the Company or any of its Subsidiaries or any currently owned or operated
Real Property or (ii) to cause any such Real Property to be subject to any material restrictions on the ownership, occupancy, use or transferability of such Real Property by the Company or any of its Subsidiaries under Environmental Law.

 (b)    Neither the Company nor any of its Subsidiaries is obligated to perform any action or otherwise incur any
expense under Environmental Law pursuant to any order, decree, judgment or agreement by which it is bound or has assumed by contract, agreement or operation of law, and none of them are conducting or financing any response action pursuant to
Environmental Law with respect to any Real Property or any other location. 
 (c)    No person with an indemnity or
contribution obligation to the Company or any of its Subsidiaries relating to compliance with or liability under Environmental Law is in default with respect to such obligation. 
 (d)    The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will
not require any notification, registration, filing, reporting, disclosure, remediation or cleanup pursuant to any Real Property Disclosure Requirement or any other Environmental Law. 
 (e)    Notwithstanding anything to the contrary in this Section 6.17, the representations made in this Section 6.17 shall
only be untrue if the effect of all violations, claims, restrictions, failures, noncompliance, liabilities and other circumstances of the types described above could, either individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. 
 6.18    Labor Relations. Except as disclosed on Schedule 6.18, as of the Closing Date
(a) there is no collective bargaining agreement or other labor contract covering employees of the Company or any of its Subsidiaries, (b) no such collective bargaining agreement or other labor contract is scheduled to expire during the
term of this Agreement, (c) to the best of the Company’s knowledge, no union or other labor organization is seeking to organize, or to be recognized as, a collective bargaining unit of employees of the Company or any of its Subsidiaries or
for any similar purpose, (d) there is no pending or (to the best of the Company’s knowledge) threatened, strike or work stoppage and (e) there is 

  

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no pending or (to the best of the Company’s knowledge) threatened unfair labor practice claim, or other labor dispute against or affecting the Company
or its Subsidiaries or their employees that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 6.19    Patents, Licenses, Franchises and Formulas. Each of the Company and each of its Subsidiaries owns all patents, trademarks, permits, service marks, trade names, copyrights, licenses, franchises and
formulas, or rights with respect to the foregoing, and has obtained assignments of all licenses and other rights of whatever nature, necessary for the present and proposed conduct of its business, without any known conflict with the rights of others
except, with respect to any matter specified in this Section 6.19, as could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect. 
 6.20    Indebtedness. Schedule 5.06(d) sets forth a true and complete list of all indebtedness for borrowed money (other than
(i) Intercompany Loans (ii) the Obligations and (iii) the ABL Loans) and related obligations of the Company and its Subsidiaries as of the Closing Date and which is to remain outstanding after giving effect to the Transaction, in each
case showing the aggregate principal amount thereof and the name of the respective borrower and any other entity which directly or indirectly guaranteed such debt. 
 6.21    Representations and Warranties in Documents. All representations and warranties of each Credit Party set forth in the Documents were true and correct in all material respects as of
the time such representations and warranties were made and shall be true and correct in all material respects as of the Closing Date as if such representations and warranties were made on and as of such date, unless stated to relate to a specific
earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date. 
 6.22    Insurance. Set forth on Schedule 6.22 hereto is a true, correct and complete summary of all insurance carried by each Credit Party on and as of the Closing Date, with the amounts insured set forth therein.

 SECTION 7.    Affirmative Covenants. The Company hereby covenants and agrees for itself and each of its
Subsidiaries that on and after the Closing Date and until the Total Commitment has terminated and the Loans and Notes, together with interest, Fees and all other Obligations are paid in full: 
 7.01    Information Covenants. The Company will furnish to the Administrative Agent (which shall promptly distribute a copy to
each Lender): 
 (a)    Quarterly Financial Statements. Within 45 days after the close of the first three
quarterly accounting periods in each fiscal year of the Company, commencing with the period ending May 31, 2007, the consolidated balance sheet of the Company and its Subsidiaries as at the end of each such quarterly accounting period and the
related consolidated statement of income and the related consolidated statement of cash flows for each such quarterly accounting period and for the elapsed portion of the fiscal year ended with the last day of each such quarterly accounting period
(other than the fourth quarterly accounting period), setting forth comparative figures for the related periods in the prior fiscal year, all of which shall be in reasonable detail and certified by the chief financial officer or treasurer of the
Company that they fairly present in all material respects the financial condition of the Company and its Subsidiaries as of the dates indicated and the results of their operations and changes in their cash flows for the periods indicated, subject to
normal year-end audit adjustments and shall be accompanied by a management discussion and analysis of the results of operations and financial condition with respect to such period. 
  

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 (b)    Annual Financial Statements. Within 90 days after the close of each
fiscal year of the Company, the consolidated balance sheet of the Company and its Subsidiaries as at the end of such fiscal year and the related consolidated statement of income and the related consolidated statement of cash flows for such fiscal
year setting forth comparative figures for the preceding fiscal year and certified by Ernst & Young LLP, any other independent registered public accountants or such other independent registered public accountants of recognized national
standing reasonably acceptable to the Administrative Agent. 
 (c)    Budgets. No later than 90 days after the
close of each fiscal year of the Company, a budget in form reasonably satisfactory to the Administrative Agent (including budgeted statements of income and cash flows and balance sheets) prepared by the Company for (x) each monthly accounting
period in such fiscal year and (y) such fiscal year prepared in summary form, in each case, of the Company and its Subsidiaries, accompanied by the statement of the chief financial officer or treasurer of the Company to the effect that, to the
best of such officer’s knowledge, the budget is a reasonable estimate of the period covered thereby. Additionally, within 60 days after the consummation of each Permitted Acquisition for which the aggregate consideration (i.e., the
aggregate amount of cash, the Company’s common equity (or options or warrants therefore) paid equals or exceeds $20,000,000, a revised budget in the form described above taking into account the effects of such Permitted Acquisition on the
budget for the remainder of the fiscal year covered by the original budget. 
 (d)    Officers’ Certificates.
At the time of the delivery of the financial statements provided for in Section 7.01 (a) and (b), a certificate of the chief financial officer or treasurer of the Company to the effect that no Default or Event of Default has occurred and
is continuing or, if any Default or Event of Default has occurred and is continuing, specifying the nature and extent thereof, which certificate shall, if delivered with the financial statements required by Section 7.01(b), set forth the amount
of (and the calculations required to establish) Excess Cash Flow for the respective Excess Cash Payment Period. 
 (e)    Management Letters. Promptly after the Company or any of their Subsidiaries’ receipt thereof, a copy of any “management letter” received by the Company or such Subsidiary from its registered
public accountants and the management’s responses thereto (other than reports of a routine or ministerial nature which are not material). 
 (f)    Notice of Default and Litigation. Promptly, and in any event within five Business Days after an officer of the Company or any of its Subsidiaries obtains knowledge thereof, notice of (i) the occurrence
of any event which constitutes a Default or an Event of Default (provided such Default or Event of Default is continuing) and (ii) any litigation or governmental investigation or proceeding pending or threatened (x) against the
Company or any of its Subsidiaries which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect or (y) with respect to any Document. 
 (g)    Other Reports and Filings. Prompt notice of the filing of all financial information, proxy materials and other
information and reports, if any, which the Company or any of its Subsidiaries shall file with the SEC or deliver to lenders under the ABL Credit Agreement (or any trustee, Administrative Agent or other representative therefor) and not otherwise
required to be delivered hereunder. If filings with the SEC are not electronically available, the Company and its Subsidiaries will promptly provide copies of the same to the Administrative Agent. 
 (h)    Environmental Matters. Promptly upon, and in any event within fifteen Business Days after, an officer of the Company or
any of their Subsidiaries obtains knowledge thereof, notice of one or more of the following environmental matters, unless such environmental matters could not, 
  

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individually or when aggregated with all other such environmental matters taken together with any and all exceptions to the representations and warranties
set forth in Section 6.17, be reasonably expected to have a Material Adverse Effect; provided that in any event the Company and its Subsidiaries shall deliver to the Administrative Agent all material notices relating to such material
matters received by the Company or any of its Subsidiaries from any government or governmental agency under, or pursuant to, CERCLA: 
 (i)    any pending or threatened (in writing) Environmental Claim against the Company or any of its Subsidiaries or any Real Property owned or operated by the Company or any of its Subsidiaries;

 (ii)    any condition or occurrence on, or arising from, any Real Property owned or operated by the
Company or any of its Subsidiaries that (a) results in noncompliance by the Company or any of its Subsidiaries with any applicable Environmental Law or (b) could reasonably be expected to form the basis of an Environmental Claim against
the Company or any of its Subsidiaries or any such Real Property; 
 (iii)    any condition or occurrence
on any Real Property owned or operated by the Company or any of its Subsidiaries that could reasonably be expected to cause such Real Property to be subject to any restrictions on the ownership, occupancy, use or transferability by the Company or
any of its Subsidiaries of such Real Property under any Environmental Law; and 
 (iv)    the taking or
financing of any removal, investigatory or remedial action in response to the actual or alleged presence of any Hazardous Material on any Real Property owned or operated by the Company or any of its Subsidiaries, or by the Company or any of its
Subsidiaries on any third-party site, in each case as required by any Environmental Law or any Governmental Authority. 
 All such notices shall describe in
reasonable detail the nature of the claim, investigation, condition, occurrence or removal or remedial action and the Company’s or such Subsidiary’s response thereto. 
 (i)    Annual Meetings with Lenders. At the request of the Administrative Agent, the Company shall, once during each fiscal
year of the Company, hold a meeting or conference call (at a mutually agreeable location and time) with all of the Lenders at which meeting or conference call the financial results of the previous fiscal year and the financial condition of the
Company and the budgets presented for the current fiscal year shall be reviewed. 
 (j)    Other Information. From
time to time, such other information or documents (financial or otherwise) with respect to the Company or any of its Subsidiaries as the Administrative Agent or any Lender may reasonably request. 
 7.02    Books, Records and Inspections. The Company will, and will cause each of its Subsidiaries to, keep proper books of
record and account in which full, true and correct entries in conformity with generally accepted accounting principles (or the comparable foreign equivalent thereof) and all requirements of law shall be made of all material dealings and transactions
in relation to its business and activities. The Company will, and will cause each of its Subsidiaries to, permit officers and designated representatives of the Administrative Agent or any of its agents or consultants (a) to visit and inspect,
during regular business hours and under guidance of officers of the Company or such Subsidiary, any of the properties of the Company or any of its Subsidiaries and (b) to examine the books of account of the Company and any of its Subsidiaries
and discuss the affairs, finances and accounts of the Company and any of its Subsidiaries with, and be advised as to the same by, its and their officers and independent accountants 

  

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all at such reasonable times and intervals, upon such reasonable notice and to such reasonable extent as the Administrative Agent or such Lender may request.

 7.03    Maintenance of Property; Insurance. 
 (a)    The Company will, and will cause each of its Subsidiaries to, (i) keep all material property necessary and useful in its
business in good working order and condition, (ii) maintain insurance on its property with reputable and solvent insurance companies in at least such amounts and against at least such risks as is consistent and in accordance with industry
practice and (iii) furnish to each Lender, upon written request, full information as to the insurance carried. 
 (b)    The Company will, and will cause each of its Subsidiaries to, at all times keep their respective property in which a Lien has been granted to the Collateral Agent insured in favor of the Collateral Agent, and all
policies (including the Mortgage Policies) or certificates (or certified copies thereof) with respect to such insurance (and any other insurance maintained by the Company or any such Subsidiary) (i) shall be endorsed to the Collateral
Agent’s reasonable satisfaction for the benefit of the Collateral Agent (including, without limitation, by naming the Collateral Agent as loss payee (with respect to Collateral) or, to the extent permitted by applicable law, as an additional
insured), (ii) shall state that such insurance policies shall not be canceled without 30 days’ prior written notice thereof (or 10 days’ prior written notice in the case of cancellation for the non-payment of premiums) by the
respective insurer to the Collateral Agent and (iii) shall be deposited with the Collateral Agent. 
 (c)    If the
Company or any of its Subsidiaries shall fail to maintain all insurance in accordance with this Section 7.03, or if the Company or any of its Subsidiaries shall fail to so endorse and deposit all policies or certificates with respect thereto,
the Administrative Agent and/or the Collateral Agent shall have the right (but shall be under no obligation), upon notice to the Company, to procure such insurance, and the Company agree to reimburse the Administrative Agent or the Collateral Agent,
as the case may be, for all costs and expenses of procuring such insurance. Without limiting the generality of the foregoing, Company will maintain or cause to be maintained (i) flood insurance with respect to each Flood Hazard Property that is
located in a community that participates in the National Flood Insurance Program, in each case in compliance with any applicable regulations of the Board of Governors of the Federal Reserve System. 
 7.04    Maintenance of Existence; Intellectual Property. The Company will, and will cause each of its Subsidiaries to, do or
cause to be done all things necessary to preserve and keep in full force and effect its existence, its material rights and ability to conduct businesses as currently conducted, licenses, trademarks, copyrights and patents; provided,
however, that nothing in this Section 7.04 shall prevent (i) transactions permitted by Section 8.02 or (ii) the withdrawal by the Company or any of its Subsidiaries of qualification as a foreign corporation in any
jurisdiction where such withdrawal could not, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 7.05    Compliance with Statutes, etc. The Company will, and will cause each of its Subsidiaries to, comply with all applicable statutes, regulations and orders of, and all applicable restrictions imposed by, all
governmental bodies, domestic or foreign, in respect of the conduct of its business and the ownership of its property, except such noncompliance as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. 
 7.06    Compliance with Environmental Laws. 
 (a)    (i) The Company will comply, and will use its best efforts to cause each of its Subsidiaries to comply, with
Environmental Law applicable to the ownership or use of its Real Property 

  

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now or hereafter owned or operated by the Company or any of its Subsidiaries, will promptly pay or cause to be paid all costs and expenses incurred in
connection with such compliance, and will keep or cause to be kept all such Real Property free and clear of any Liens imposed pursuant to such Environmental Laws and (ii) neither the Company nor any of its Subsidiaries will generate, use,
treat, store, release or dispose of, or permit the generation, use, treatment, storage, release or disposal of Hazardous Materials on any Real Property now or hereafter owned or operated by the Company or any of its Subsidiaries, or transport or
permit the transportation of Hazardous Materials to or from any such Real Property, except to the extent that the failure to comply with the requirements specified in clause (i) or (ii) above, either individually or in the aggregate taken
together with any and all exceptions to the representations and warranties set forth in Section 6.17, could not reasonably be expected to result in liability under Environmental Law that could have a Material Adverse Effect. If required to do
so under any applicable legally binding directive or order of any governmental agency, the Company agrees to undertake, and cause each of its Subsidiaries to undertake, to the extent required under Environmental Law, any clean up, removal, remedial
or other action necessary to remove and clean up any Hazardous Materials from any Real Property owned or operated by the Company or any of its Subsidiaries in accordance with the requirements of Environmental Law and in accordance with such legally
binding orders and directives of any Governmental Authority, except to the extent that (x) the Company or such Subsidiary is contesting such order or directive in good faith and by appropriate proceedings and for which adequate reserves have
been established to the extent required by generally accepted accounting principles or (y) the failure to take any such action could not reasonably be expected to have a Material Adverse Effect. 
 (b)    At the written request of the Administrative Agent or the Required Lenders, at any time and from time to time as is reasonable
after (i) the Obligations have become due and payable pursuant to Section 9 or (ii) the Lenders receive notice under Section 7.01(h) for any event for which notice is required to be delivered for any Real Property, the Company
will provide, at its sole cost and expense, an environmental site assessment report of reasonable scope and expense concerning any relevant Real Property now or hereafter owned or operated by the Company or any of its Subsidiaries, prepared by an
environmental consulting firm approved by the Administrative Agent, indicating the presence or absence of Hazardous Materials and the potential cost of any removal or remedial action in connection with any Hazardous Materials on such Real Property.
If the Company fails to provide the same within 45 days after such request was made, the Administrative Agent may order the same, and the Company, to the extent the Company has the authority to do so, shall grant and hereby grants, to the
Administrative Agent and the Lenders and their Administrative Agents, access to such Real Property and specifically grants the Administrative Agent and the Lenders an irrevocable non-exclusive license, subject to the rights of tenants, to undertake
such an assessment, all at the sole joint and several expense of the Company. 
 7.07    ERISA. (a) The
Company will furnish to the Administrative Agent prompt written notice of the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected to result in liability of the Company
and its Subsidiaries in excess of $2,500,000. Each notice delivered under this Section 7.07 shall be accompanied by a statement of an Authorized Officer of the Company setting forth the details of the event or development requiring such notice
and any action taken or proposed to be taken with respect thereto. 
 (b)    Upon request by the Administrative Agent,
copies of: (i) each Schedule B (Actuarial Information) to the annual report (Form 5500 Series) filed by the Company or any ERISA Affiliate with the Internal Revenue Service with respect to each Pension Plan; (ii) the most recent actuarial
valuation report for each Pension Plan; (iii) all notices received by the Company or any ERISA Affiliate from a Multiemployer Plan sponsor or any governmental agency concerning an ERISA Event; and (iv) such other documents or governmental
reports or filings relating to any Employee Benefit Plan as the Administrative Agent shall reasonably request; and 
  

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 (c)    Upon request by the Administrative Agent, on and after the effectiveness of
the Pension Protection Act of 2006, copies of (i) any documents described in Section 101(k) of ERISA that the Company or any ERISA Affiliate may request with respect to any Multiemployer Plan and (ii) any notices described in
Section 101(1) of ERISA that the Company or any ERISA Affiliate may request with respect to any Multiemployer Plan; provided that if the Company or any ERISA Affiliate has not requested such documents or notices from the administrator or
sponsor of the applicable Multiemployer Plan, the applicable entity shall promptly make a request for such documents or notices from such administrator or sponsor and shall provide copies of such documents and notices promptly after receipt thereof.

 7.08    End of Fiscal Years; Fiscal Quarters. The Company will cause (i) its fiscal year to end on
November 30 and (ii) its fiscal quarters to end on February 28, May 31, August 31 and November 30 of each fiscal year. 
 7.09    Performance of Obligations. The Company will, and will cause each of its Subsidiaries to, perform all of its obligations under the terms of each mortgage, deed of trust, indenture,
loan agreement or credit agreement and each other material agreement, contract or instrument by which it is bound, except such non-performances as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect;
provided, that the failure to pay any Indebtedness shall not constitute a breach of this Section 7.09 unless it shall give rise to an Event of Default under Section 9.04. 
 7.10    Payment of Taxes. The Company will pay and discharge, and will cause each of its Subsidiaries to pay and discharge,
all material taxes, assessments and governmental charges or levies imposed upon the Company or its Subsidiaries or upon the income or profits of the Company or its Subsidiaries, or upon any properties belonging to it, in each case on a timely basis,
and all lawful claims which, if unpaid, might become a lien or charge not otherwise permitted under Section 8.01(i) upon any properties of the Company or any such Subsidiary; provided that none of the Company or any such Subsidiary shall
be required to pay any such material tax, assessment, charge, levy or claim which is being contested in good faith and by proper proceedings if the Company or any such Subsidiary has maintained adequate reserves with respect thereto in accordance
with generally accepted accounting principles. 
 7.11    Additional Security; Further Assurances. 
 (a)    In the event that the Company or any Subsidiary Guarantor acquires any fee or leasehold ownership in Real Property after the
Closing Date, the Company shall promptly notify the Collateral Agent and, at the request of the Collateral Agent or the Required Lenders (or as otherwise required at such time pursuant to the ABL/Term Loan Intercreditor Agreement) from time to time,
the Company will, and will cause such Subsidiary Guarantor to, execute any and all further documents (including Mortgages), financing statements, agreements (including guarantee and security agreements) and instruments, and take all such further
actions (including the filing and recording of financing statements and other documents), that may be required under applicable law, or which the Collateral Agent may reasonably request, to grant, preserve, protect or perfect (including as a result
of any change in applicable law) the Liens created or intended to be created by the Security Documents or the validity or priority of any such Lien, all at the expense of the Company (each such Mortgage, an “Additional Mortgage”) in such
additional Real Property of any of the Company or a Subsidiary Guarantor (each such Real Property, an “Additional Mortgaged Property”). All such Additional Mortgages shall be granted pursuant to documentation reasonably satisfactory in
form and substance to the Collateral Agent and shall constitute valid and enforceable perfected Liens superior to and prior to the rights of all third Persons and subject to no other Liens, in either case except Permitted Liens. The Additional
Mortgages or instruments related thereto shall have been duly recorded or filed in such manner and in such places as are required by law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent and Administrative Agent
required to be granted pursuant to the Additional Mortgages and all taxes, fees 

  

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and other charges payable in connection therewith shall have been paid in full. Notwithstanding anything to the contrary contained above in this
Section 7.11(a), in connection with any Real Property that has been designated as an Additional Mortgaged Property, the Company shall not nor any Subsidiary Guarantor shall be required to grant an Additional Mortgage therein to the extent that
such a grant is prohibited by the terms of any document evidencing a prior Lien thereon to the extent permitted under Section 8.01(vii), (viii), or (xiv) (and the senior lienholder has not consented thereto). 
 (b)    Following the Closing Date, the Company will, and will cause each of its Subsidiaries to, at the expense of the Company and
such Subsidiaries, make, execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from time to time such conveyances, financing statements, transfer endorsements, powers of attorney, certificates, and other assurances or
instruments and take such further steps relating to the Collateral covered by any of the Security Documents as the Collateral Agent may reasonably require to ensure the validity, enforceability, perfection or priority of the Collateral Agent’s
and Administrative Agent’s security interest in the Collateral or to enable the Collateral Agent and Administrative Agent to realize or exercise the rights and benefits intended to be created by the Security Documents. Furthermore, the Company
shall cause to be delivered to the Collateral Agent such opinions of counsel, title insurance, appraisals, surveys and other related documents as may be reasonably requested by the Collateral Agent to assure itself that this Section 7.11 has
been complied with. 
 (c)    In the event the Administrative Agent or the Required Lenders reasonably determine the
following are required or advisable under applicable law or regulation, the Company shall obtain real estate appraisals with respect to each Mortgaged Property, which real estate appraisal shall follow the valuation procedures set forth in 12 CFR,
Part 34 - Subpart C, and shall otherwise be in form and substance reasonably satisfactory to the Administrative Agent. 
 (d)    The Company agrees that each action required above by this Section 7.11 shall be completed as soon as possible, but in no event later than 90 days after such action is requested in writing to be taken by the
Administrative Agent or the Required Lenders. 
 7.12    Ownership of Subsidiaries. The Company will at all times
ensure that each of its Subsidiaries remains as a Wholly-Owned Subsidiary of the Company except (i) to the extent that any such Subsidiary is merged, consolidated or liquidated in a transaction permitted by Section 8.02(viii) or (ix),
(ii) for non-Wholly-Owned Subsidiaries acquired pursuant to a Permitted Acquisition and (iii) for joint ventures otherwise permitted pursuant to Section 8.05. 
 7.13    Use of Proceeds. The Company will use the proceeds of the Loans and Incremental Loans only as provided in
Section 6.08. 
 7.14    Maintenance of Company Separateness. The Company will, and will cause each of its
Subsidiaries to, satisfy customary Business formalities, including (to the maximum extent required under applicable Business laws) the holding of regular board of directors’ and shareholders’ meetings or action by directors or shareholders
without a meeting and the maintenance of Business records. Neither the Company nor any other Credit Party shall make any payment to a creditor of any Non-Guarantor Subsidiary in respect of any liability of any Non-Guarantor Subsidiary, and no lender
account of any Non-Guarantor Subsidiary shall be commingled with any lender account of the Company or any other Credit Party. Any financial statements distributed to any creditors of any Non-Guarantor Subsidiary shall clearly establish or indicate
the corporate separateness of such Non-Guarantor Subsidiary from the Company and its other Subsidiaries. Finally, neither the Company nor any of its Subsidiaries shall take any action, or conduct its affairs in a manner, which is likely to result in
the Business existence of the Company, any other Credit Party or any Non-Guarantor Subsidiaries being ignored, or in the assets and liabilities of the Company or any other Credit Party being substantively consolidated with those of any other 

  

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such Person or any Non-Guarantor Subsidiary in a bankruptcy, reorganization or other insolvency proceeding. 
 7.15    Interest Rate Protection. No later than 90 days following the Closing Date, the Company will enter into and thereafter
maintain Interest Rate Protection Agreements pursuant to documentation and with counterparties reasonably satisfactory to the Administrative Agent and having a term of at least two years; provided that such Interest Rate Protection Agreements
shall establish a fixed or maximum interest rate reasonably acceptable to the Administrative Agent for an aggregate notional principal amount equal to not less than $50,000,000 of the aggregate principal amount of all Loans then out standing.

 7.16    Post-Closing Obligations. Within the time period set forth for each item in this Section 7.16,
unless such time period is otherwise extended by the Administrative Agent in its sole discretion, the Company will execute and deliver (or with respect to Section 7.16(e) the Administrative Agent shall have received): 
 (a)    no later than 30 days following the Closing Date, fully executed and notarized counterparts of a mortgage, deed of trust or
deed to secure debt, leasehold mortgage, leasehold deed of trust, leasehold deed to secure debt or similar documents and corresponding UCC fixture filings in form and substance reasonably satisfactory to the Collateral Agent and to the Required
Lenders (as may be amended, modified or supplemented from time to time in accordance with the terms hereof and thereof, each, a “Mortgage” and collectively, “Mortgages”), which Mortgages shall cover all of the Real Property owned
and leased by the Company or any of its Domestic Subsidiaries as designated on Schedule 7.16(a) (each, a “Mortgaged Property” and collectively, the “Mortgaged Properties”), together with evidence that counterparts of the
Mortgages and corresponding UCC fixture filings have been delivered to the title insurance company insuring the Lien of the Mortgages for recording in all places to the extent necessary or, in the reasonable opinion of the Collateral Agent,
desirable to effectively create a valid and enforceable First Priority mortgage lien on each Mortgaged Property in favor of the Collateral Agent and Administrative Agent (or such other trustee as may be required or desired under local law) for the
benefit of the Secured Creditors; 
 (b)    no later than 30 days following the Closing Date, mortgagee title insurance
policies or marked-up unconditional binders for such insurance (and evidence of payment in full by the Company of any premiums, costs and expenses related thereto, including without limitation recording taxes and filing fees) hi connection with the
Mortgaged Properties issued by First American Title Insurance Company or such other title insurers reasonably satisfactory to the Administrative Agent and the Required Lenders, (the “Mortgage Policies”) in amounts reasonably satisfactory
to the Administrative Agent and the Required Lenders assuring the Collateral Agent that the respective Mortgages on such Mortgaged Properties are valid and enforceable First Priority mortgage liens on the respective Mortgaged Properties, free and
clear of all defects and encumbrances except Permitted Encumbrances and such Mortgage Policies shall otherwise be in form and substance reasonably satisfactory to the Administrative Agent and the Required Lenders and shall include, as appropriate,
an endorsement for future advances under this Agreement, the Notes and the Mortgages and for any other matter that the Administrative Agent or the Required Lenders in their discretion may reasonably request, shall not include an exception for
mechanics’ liens unless such liens would constitute Permitted Liens, and shall provide for affirmative insurance and such reinsurance (including direct access agreements) as the Administrative Agent or the Required Lenders in their discretion
may reasonably request; 
 (c)    no later than 30 days following the Closing Date, if requested by the Collateral Agent,
surveys in form and substance reasonably satisfactory to the Collateral Agent of each Mortgaged 

  

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Property dated a recent date acceptable to the Collateral Agent, certified in a manner reasonably satisfactory to the Collateral Agent by a licensed
professional surveyor satisfactory to the Collateral Agent; 
 (d)    no later than 30 days following the Closing Date,
(i) evidence, which may be in the form of a completed Federal Emergency Management Agency Standard Flood Hazard Determination, as to whether (1) any Mortgaged Property is a Flood Hazard Property and (2) the community in which any such
Flood Hazard Property is located is participating in the National Flood Insurance Program, (ii) if there are any such Flood Hazard Properties, such Loan Party’s written acknowledgement of receipt of written notification from Administrative
Agent (1) as to the existence of each such Flood Hazard Property and (2) as to whether the community in which each such Flood Hazard Property is located is participating in the National Flood Insurance Program, and (iii) in the event
any such Flood Hazard Property is located in a community that participates in the National Flood Insurance Program, evidence that Company has obtained flood insurance in respect of such Flood Hazard Property to the extent required under the
applicable regulations of the Board of Governors of the Federal Reserve System; and 
 (e)    no later than 30 days
following the Closing Date, from local counsel to the Company and its Subsidiaries reasonably satisfactory to the Administrative Agent, opinions addressed to the Administrative Agent, the Collateral Agent and each of the Lenders, each of which shall
be in form and substance reasonably satisfactory to the Administrative Agent and shall cover the liens granted pursuant to the Mortgages and such other matters incident to the transactions contemplated herein and in the other Credit Documents as the
Administrative Agent may reasonably request 
 With respect to each Mortgaged Property, such consents, approvals, amendments, supplements, estoppels, tenant
subordination agreements or other instruments as necessary to consummate the Transactions or as shall reasonably be deemed necessary by the Collateral Agent in order for the owner or holder of the fee or leasehold interest constituting such
Mortgaged Property to grant the Lien contemplated by the Mortgage with respect to such Mortgaged Property. 
 (f)    no
later than 3 business days following the Closing Date, to the Collateral Agent, as Pledgee under the Pledge Agreement all of the Pledged Securities referred to therein then owned by the Company and each such Credit Party (x) endorsed in blank
in the case of promissory notes constituting Pledged Securities and (y) together with executed and undated irrevocable stock powers, in the case of capital stock constituting Pledged Securities. 
 7.17    Deposit Accounts. For each Deposit Account (other than (i) any Deposit Account maintained with the Collateral
Agent, (ii) any Deposit Account that is used solely for payroll or that is a controlled disbursement account that has a zero balance at the end of each Business Day and (iii) any Deposit Account maintained with JPMorgan Chase Bank, N.A.),
the respective Assignor (as such term is defined in the Security Agreement) shall use its commercially reasonable efforts to cause the bank with which the Deposit Account is maintained to execute and deliver to the Collateral Agent, within 30 days
after the date hereof (as such date may be extended from time to time by the Collateral Agent in its sole discretion) or, if later, at the time of the establishment of the respective Deposit Account, a “control agreement” in a form
reasonably satisfactory to the Collateral Agent. Notwithstanding anything in this Section 7.17 to the contrary, (a) if at any time a Deposit Account excluded under the foregoing sentence (other than any Deposit Account maintained with the
Collateral Agent) is or becomes subject to a “control agreement” for the benefit of the ABL Secured Parties (as defined in the Security Agreement), then the respective Assignor shall within 30 days after the date hereof (as such date may
be extended from time to time by the Collateral Agent in its sole discretion) or, if later, contemporaneously with the execution and delivery of each such “control agreement” for the benefit of the ABL Secured Parties execute and deliver a
“control agreement” with respect to such Deposit Account in a form reasonably satisfactory to the Collateral Agent and (b) if at any time the ABL Borrowing Availability is less than $15,000,000, then 
  

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each Assignor shall within 30 days after such time to execute and deliver a “control agreement” in a form reasonably satisfactory to the Collateral
Agent, with respect to each Deposit Account not then subject to a “control agreement”, unless otherwise agreed to by the Collateral Agent in writing. Unless otherwise agreed to by the Collateral Agent in writing, if any bank with which a
Deposit Account is maintained refuses to, or does not, enter into such a “control agreement” to the extent and by the date required hereunder, then the respective Assignor shall promptly (and in any event within 30 days after such date or
such longer period as may be acceptable to the Collateral Agent) close the respective Deposit Account and transfer all balances therein to the Cash Collateral Account (as defined in the Security Agreement) or another Deposit Account subject to a
“control agreement” in a form reasonably satisfactory to the Collateral Agent. 
 SECTION 8.    Negative
Covenants. The Company hereby covenants and agrees for itself and each of its Subsidiaries that on and after the Closing Date and until the Total Commitment has terminated and the Loans and Notes, together with interest, Fees and all other
Obligations, are paid in full: 
 8.01    Liens. The Company will not, and will not permit any of their
Subsidiaries to, create, incur, assume or suffer to exist any Lien upon or with respect to any property or assets (real or personal, tangible or intangible) of the Company or any of its Subsidiaries, whether now owned or hereafter acquired, or sell
any such property or assets subject to an understanding or agreement, contingent or otherwise, to repurchase such property or assets (including sales of accounts receivable with recourse to the Company or any of its Subsidiaries), or assign any
right to receive income; provided that the provisions of this Section 8.01 shall not prevent the creation, incurrence, assumption or existence of the following (Liens described below are herein referred to as “Permitted
Liens”): 
 (i)    Liens for taxes, assessments or governmental charges or levies not yet delinquent
or Liens for taxes, assessments or governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves have been established to the extent required by generally accepted accounting principles,
which proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien; 
 (ii)    Liens in respect of property or assets of the Company or any of its Subsidiaries imposed by law, which were incurred in the ordinary course of business and do not secure Indebtedness, such as carriers’,
warehousemen’s, materialmen’s and mechanics’ liens and other similar Liens arising in the ordinary course of business, and (x) which do not in the aggregate materially detract from the value of the Company’s or such
Subsidiary’s property or assets or materially impair the use thereof in the operation of the business of the Company or such Subsidiary or (y) which are being contested in good faith by appropriate proceedings, which proceedings have the
effect of preventing the forfeiture or sale of the property or assets subject to any such Lien; 
 (iii)    Liens in existence on the Closing Date which are listed, and the property subject thereto described, on Schedule 8.01, but no renewals or extensions of such Liens shall be permitted except to the extent
specifically permitted to be so renewed or extended as set forth on such Schedule 8.01; provided that (x) the aggregate principal amount of the Indebtedness, if any, secured by such Liens does not increase from that amount outstanding at
the time of any such renewal or extension and (y) any such renewal or extension does not encumber any additional assets or properties of the Company or any of its Subsidiaries; 
 (iv)    Permitted Encumbrances; 
  

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 (v)    Liens created by or pursuant to (x) this Agreement and
the Security Documents, (y) the ABL Credit Agreement and the ABL Security Documents (subject to the terms of the ABL/Term Loan Intercreditor Agreement) and (z) the Interest Rate Protection Agreements; 
 (vi)    leases or subleases granted to other Persons in the ordinary course of business not materially interfering
with the conduct of the business of the Company or any of its Subsidiaries; 
 (vii)    Liens upon assets
subject to Capitalized Lease Obligations or purchase money Indebtedness to the extent permitted by Section 8.04(iii); provided that (x) such Liens only serve to secure the payment of Indebtedness arising under such Capitalized Lease
Obligation or purchase money Indebtedness and (y) the Lien encumbering the asset giving rise to the Capitalized Lease Obligation or purchase money Indebtedness does not encumber any other asset of the Company or any of its Subsidiaries;

 (viii)    Liens placed upon assets (including Real Property) at the time of acquisition or
construction thereof by the Company or any such Subsidiary or within 90 days thereafter to secure Indebtedness incurred to pay all or a portion of the purchase price or construction costs thereof and extensions, renewals or replacements of any of
the foregoing; provided that, in either case, (x) the aggregate outstanding principal amount of all Indebtedness secured by Liens permitted by this clause (viii) shall not at any time exceed the amount permitted under
Section 8.04(iii) and (y) in all events, the Lien encumbering the assets so acquired does not encumber any other asset of the Company or any of its Subsidiaries; 
 (ix)    any Lien existing on any property or asset prior to the acquisition thereof by the Company or any of its
Subsidiaries or existing on any property or asset of any Person that becomes a Subsidiary of the Company after the date hereof prior to the time such Person becomes a Subsidiary of the Company; provided that (i) such Lien was not created
in contemplation of or in connection with such acquisition or such Person becoming a Subsidiary of the Company, as the case may be, (ii) such Lien shall not apply to any other property or assets of the Company or any of its Subsidiaries and
(iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary of the Company or the Company, as the case may be; 
 (x)    easements, rights-of-way, restrictions, encroachments and other similar charges or encumbrances, and minor
title deficiencies, in each case not materially interfering with the conduct of the business of the Company or any of its Subsidiaries; 
 (xi)    Liens arising from precautionary UCC financing statement filings or similar filings regarding operating leases and consigned goods; 
 (xii)    statutory and common law landlords’ liens under leases to which the Company or any of its Subsidiaries
is a party; 
 (xiii)    Liens incurred or deposits made in the ordinary course of business in connection
with workers’ compensation, unemployment insurance and other types of social security, or to secure the performance of tenders, statutory obligations, surety bonds (other than appeal bonds), bids, government contracts, performance and
return-of-money bonds and other similar obligations incurred in the ordinary course of business (exclusive of obligations in respect of the payment for borrowed money); 
  

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 (xiv)    normal and customary rights of set-off upon deposits of cash
in favor of lenders and other depositary institutions; 
 (xv)    the Company and its Subsidiaries may
sell or assign overdue accounts receivable in connection with the collection thereof in the ordinary course of business to the extent permitted under Section 8.02; 
 (xvi)    any (x) interest or title of a lessor or sublessor (other than a Credit Party) under any lease entered
into by the Company or any of its Subsidiaries as lessee to the extent that such lease is permitted to be entered into pursuant to this Agreement, (y) restriction or encumbrance to which the interest or title of such lessor or sublessor may be
subject (including, without limitation, ground leases and other prior leases of the premises, mortgages, mechanics liens, tax liens and easements) or (z) subordination of the interest of the lessee or sublessee under any such lease to any
restriction or encumbrance referred to in the preceding clause (y); 
 (xvii)    Liens on the assets of
Foreign Subsidiaries securing Indebtedness permitted under Section 8.04(xiii); 
 (xviii)    Liens
not otherwise permitted pursuant to this Section 8.01 which secure obligations permitted under this Agreement not exceeding $20,000,000 in the aggregate at any one time outstanding; and 
 (xix)    Liens arising from judgments and attachments in connection with court proceedings provided that the
attachment or enforcement of such Liens would not result in an Event of Default hereunder and such Liens are being contested in good faith by appropriate proceedings, adequate reserves have been set aside and no material property is subject to a
material risk of loss or forfeiture and the claims in respect of such Liens are fully covered by insurance (subject to ordinary and customary deductibles) and a stay of execution pending appeal or proceeding for review is in effect. 
 In connection with the granting of Liens permitted by this Section 8.01 by the Company or any of its Subsidiaries, the Administrative Agent and the Collateral Agent
shall be authorized to and shall take any actions necessary to be taken by it in connection therewith (including, without limitation, by executing appropriate lien releases or lien subordination agreements in favor of the holder or holders of such
Liens, in either case solely with respect to the item or items of property subject to such Liens) to afford the lenders and/or creditors of the Company and its Subsidiaries with the Permitted Liens (and related rights) to which they are entitled
under this Section 8.01. 
 8.02    Consolidation, Merger, Sale of Assets, etc. The Company will not, and
will not permit any of its Subsidiaries to, wind up, liquidate or dissolve its affairs or enter into any transaction of merger or consolidation, or convey, sell, lease or otherwise dispose of (or agree to do any of the foregoing at any future time)
all or any part of its property or assets, or enter into any sale-leaseback transactions, except that: 
 (i)    the Company and its Subsidiaries may make sales of Cash Equivalents and inventory, including sales of inventory to the Company and other Subsidiaries, in the ordinary course of business; 
 (ii)    the Company and its Subsidiaries may make sales or other dispositions of assets (excluding a sale of the
equity interests of any Subsidiary of the Company (other than CG-Omnova Decorative (Shanghai) Co., Beston OMNOVA Plastics (Taicang) Co. Ltd. and Decorative 

  

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Products (Singapore) Pte. Ltd., to the extent such entities are designated a Subsidiary as set forth in the definition thereof)) unless all of the equity
interests of a Subsidiary of the Company are sold pursuant to this clause (ii)); provided that (x) each such sale results in consideration at least 75% of which shall at the time received be in the form of cash (provided that in
lieu of cash the Company may receive, as consideration, assets which the Company would have been permitted to reinvest in under the terms of Section 4.02(c) if the Company had received cash consideration), (y) the aggregate sale proceeds
from all assets subject to such sales shall not exceed the greater of (a) $5,000,000 and (b) 7.5% of consolidated total assets of the Company and its Subsidiaries, in each case in any fiscal year of the Company, and (z) Net Cash
Proceeds therefrom in excess of $5,000,000 are either applied as provided in Section 4.02(c) or reinvested in assts to the extent permitted by 4.02(c); 
 (iii)    Capital Expenditures by the Company and its Subsidiaries shall be permitted; 
 (iv)    the Company and its Subsidiaries may sell or otherwise dispose of damaged, obsolete or worn-out assets that
are no longer necessary for the proper conduct of their respective business for fair market value; 
 (v)    transactions permitted by Section 8.05 shall be permitted; 
 (vi)    The Company and its Subsidiaries may grant leases or subleases to other Persons in the ordinary course of business and not materially interfering with the conduct of the business of the Company and its
Subsidiaries taken as a whole; 
 (vii)    each of the Company and its Subsidiaries may lease (as lessee)
real or personal property in the ordinary course of business (so long as any such lease does not create a Capitalized Lease Obligation except to the extent permitted by Section 8.04(iii)); 
 (viii)    any Foreign Subsidiary of the Company may be merged with and into, or be dissolved or liquidated, or sell
or otherwise transfer any of its assets to (x) the Company or (y) any Wholly-Owned Subsidiary of the Company, so long as any security interests granted to the Collateral Agent for the benefit of the Secured Creditors pursuant to the
Security Documents in the Equity Interests of such Foreign Subsidiary shall remain in full force and effect and perfected and enforceable (to at least the same extent as in effect immediately prior to such merger, consolidation, amalgamation,
dissolution, liquidation or transfer) and all actions required to maintain said perfected status have been taken; 
 (ix)    any Domestic Subsidiary of the Company may be merged with and into, or be dissolved or liquidated into, or transfer any of its assets to (x) the Company or (y) any Wholly-Owned Domestic Subsidiary of
the Company, so long as (i), in the case of clause (y), such Wholly-Owned Domestic Subsidiary of the Company is a Subsidiary Guarantor and (ii) any security interests granted to the Collateral Agent for the benefit of the Secured Creditors
pursuant to the Security Documents in the assets of such Subsidiary shall remain in full force and effect and perfected (to at least the same extent as in effect immediately prior to such merger, consolidation, dissolution or liquidation) and all
actions required to maintain said perfected status have been taken; 
 (x)    the Company and each of the
Subsidiary Guarantors may sell or otherwise transfer assets (other than any Mortgaged Properties) between or among one another; 
  

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 (xi)    each of the Company and its Subsidiaries may sell or discount
accounts receivable in the ordinary course of business, but only in connection with the collection or compromise thereof; 
 (xii)    each of the Company and its Subsidiaries may, in the ordinary course of business, license patents, trademarks, copyrights and know-how to third Persons, so long as each such license does not prohibit the
granting of a Lien by the Company or such Subsidiary in the intellectual property covered by such license; and 
 (xiii)    each of the Company and its Subsidiaries may liquidate any Inactive Subsidiary and any Non-Guarantor Subsidiary. 
 To
the extent the Required Lenders waive the provisions of this Section 8.02 with respect to the sale or other disposition of any Collateral, or any Collateral is sold or otherwise disposed of as permitted by this Section 8.02, such
Collateral (unless transferred to a Credit Party or a Subsidiary thereof) shall in each case be sold or otherwise disposed of free and clear of the Liens created by the Security Documents and the Administrative Agent shall take such actions
(including, without limitation, directing the Collateral Agent to take such actions) as are appropriate in connection therewith. 
 8.03    Dividends. The Company will not, and will not permit any of its Subsidiaries to, authorize, declare or pay any Dividends with respect to the Company or any of its Subsidiaries, except that: 
 (i)    any Subsidiary of the Company may pay Dividends to (x) the Company or (y) any Wholly-Owned
Subsidiary of the Company; 
 (ii)    any non-Wholly-Owned Subsidiary of the Company may pay cash
Dividends to its shareholders or equity owners generally so long as the Company or its respective Subsidiary which owns the equity interest in the Subsidiary paying such Dividends receives at least its proportionate share thereof (based upon its
relative holding of the equity interest in the Subsidiary paying such Dividends and taking into account the relative preferences, if any, of the various classes of equity interests of such Subsidiary); and 
 (iii)    the Company may pay cash Dividends so long as (a) no Default or Event of Default is in existence at
such time or would result therefrom and (b) the amount of such Dividend, when added to the aggregate amount of Dividends made pursuant to this clause (iii) after the Effective Date and the aggregate amounts paid pursuant to
Section 8.05(xv) and (xx) after the Effective Date, would not exceed the Permitted Dividend Amount in effect at such time. 
 8.04    Indebtedness. The Company will not, and will not permit any of its Subsidiaries to, contract, create, incur, assume or suffer to exist any Indebtedness, except: 
 (i)    Indebtedness incurred pursuant to this Agreement and the other Credit Documents; 
 (ii)    Existing Indebtedness to the extent the same is listed on Schedule 5.06(d), and refinancings or renewals
thereof except to the extent specifically prohibited to be so refinanced or renewed on such Schedule 5.06(d); provided that any such refinancings and renewals shall not exceed the principal amount of, and shall not be for a shorter maturity
than, such Existing Indebtedness outstanding at the time of the refinancing or renewal thereof; 
  

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 (iii)    Indebtedness evidenced by Capitalized Lease Obligations and
purchase money Indebtedness of the Company and its Subsidiaries, including any Indebtedness assumed in connection with the acquisition of assets; provided that in no event shall the aggregate principal amount of Capitalized Lease Obligations,
and the principal amount of all such Indebtedness incurred or assumed in each case after the Closing Date, permitted by this clause (iii) exceed $15,000,000 at any time outstanding; 
 (iv)    intercompany Indebtedness among the Company and its Subsidiaries to the extent permitted by
Section 8.05; 
 (v)    Indebtedness of the Company under Interest Rate Protection Agreements
entered into to protect the Company against fluctuations in interest rates in respect of the Obligations so long as management of the Company has determined that the entering into of such Interest Rate Protection Agreements are bona fide hedging
activities; 
 (vi)    Indebtedness of the Company and its Subsidiaries under Other Hedging Agreements
entered into in the ordinary course of business providing protection against fluctuations in currency values and/or commodity prices in connection with the Company’s or any of its Subsidiaries’ operations so long as management of the
Company or such Subsidiary, as the case may be, has determined that the entering into of such Other Hedging Agreements are bona fide hedging activities; 
 (vii)    Indebtedness of the Credit Parties arising under the ABL Credit Documents (or any Permitted Refinancing ABL Credit Facility) in an aggregate principal amount not to exceed the greater of
(i) $100,000,000 and (ii) the sum of (x) 85% of the net book value of the accounts receivable of the Company and (y) 65% of the net book value of the inventory of the Company and its Wholly-Owned Subsidiaries; 
 (viii)    any Credit Party may become liable as a guarantor with respect to obligations of any other Credit Party,
which obligations are not otherwise prohibited under this Agreement; 
 (ix)    Indebtedness in respect
of those accounts receivable permitted to be sold or discounted pursuant to Section 8.02(xi); 
 (x)    Indebtedness representing deferred compensation to employees and directors of the Company or its Subsidiaries; provided that the aggregate principal amount of Indebtedness permitted by this clause
(x) shall not exceed $5,000,000 at any time outstanding; 
 (xi)    additional Indebtedness of the
Company and its Subsidiaries not otherwise permitted under this Section 8.04 not to exceed $30,000,000 in aggregate principal amount at any one time outstanding; 
 (xii)    Indebtedness of a Subsidiary of the Company acquired after the Closing Date in connection with a Permitted
Acquisition (or Indebtedness assumed at the time of a Permitted Acquisition of an asset securing such Indebtedness); provided, that, the aggregate principal amount of all such Indebtedness outstanding at any one time pursuant to this clause
(xii) shall not exceed (A) $10,000,000 plus (B) an additional amount of Indebtedness if (x) such Indebtedness consists of Permitted Debt and (y) after giving effect to the incurrence of such Permitted Debt and the respective
Permitted Acquisition, the Interest Coverage Ratio for the then most recently ended Test Period is greater than 2.00:1.00 determined on a pro forma basis; provided, further, that such Indebtedness may be refinanced if,
after giving effect to such refinancing Indebtedness and the 
  

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repayment of the corresponding existing Indebtedness with the proceeds thereof, (a) the aggregate principal amount of the refinancing Indebtedness and
the corresponding existing Indebtedness so refinanced shall not be greater than the outstanding principal amount of such existing Indebtedness immediately prior to such refinancing, (b) the weighted average life to maturity of such refinancing
Indebtedness shall be no shorter than that of the existing Indebtedness being refinanced and (c) such refinancing Indebtedness shall not be secured by any additional property than that which secures the existing Indebtedness being refinanced;

 (xiii)    Indebtedness of Foreign Subsidiaries from time to time owing to Persons other than a Credit
Party; provided, that the aggregate amount of such Indebtedness under this clause (xiii) does not exceed $10,000,000 at any one time outstanding; 
 (xiv)    any Subsidiary of the Company may become liable as a guarantor with respect to lease obligations of the
Company or any other Subsidiary of the Company; and 
 (xv)    additional Indebtedness of the Company and
its Subsidiaries not otherwise permitted under this Section 8.04; provided, that after giving effect to the incurrence of such additional Indebtedness, the Interest Coverage Ratio for the then most recently ended Test Period is greater
than 2.00:1.00 determined on a pro forma basis. 
 For purposes of determining compliance with this Section 8.04, in the event that any
item of proposed Indebtedness meets the criteria of more than one of the categories above, the Company will be permitted to classify the item of Indebtedness on the date of its incurrence, creation or assumption, or later reclassify all or a portion
of the item of Indebtedness, in any manner that complies with this Section 8.04 and such item of Indebtedness shall be deemed to have been incurred, created or assumed pursuant to only one of such categories. 
 8.05    Advances, Investments, Loans, Purchase of Assets. The Company will not, and will not permit any of their Subsidiaries
to, directly or indirectly, (w) lend money or credit or make advances to any Person, (x) purchase or otherwise acquire (in one or a series of related transactions) any part of the property or assets of any Person (including, without
limitation, any stock, obligations or securities of, or any other interest in, any other Person), but excluding purchases or other acquisitions of inventory, materials and equipment, (y) make any capital contribution to any other Person or
(z) purchase or own a futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract, except that the following shall be permitted: 
 (i)    the Company and its Subsidiaries may acquire and hold accounts receivables owing to any of them, if created or
acquired in the ordinary course of business and payable or dischargeable in accordance with customary terms; 
 (ii)    the Company and its Subsidiaries may acquire and hold cash and Cash Equivalents; 
 (iii)    the Company and its Subsidiaries may (x) make loans and advances in the ordinary course of business to their respective employees so long as the aggregate principal amount thereof at any time outstanding
(determined without regard to any write-downs or write-offs of such loans and advances) shall not exceed $1,000,000 and (y) make loans to members of management to fund their purchase of equity interests of the Company so long as no cash is paid
by the Company or any of its Subsidiaries in connection therewith (or any cash so paid is promptly (and in any event within one Business Day) returned to the Company or such Subsidiary; 
  

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 (iv)    the Company and its Subsidiaries may enter into Interest Rate
Protection Agreements to the extent permitted by Section 8.04(v); 
 (v)    the Company and its
Subsidiaries may enter into Other Hedging Agreements to the extent permitted by Section 8.04(vi); 
 (vi)    investments in existence on the Closing Date and listed on Schedule 8.05 shall be permitted, without giving effect to any additions thereto or replacements thereof (provided that intercompany investments listed
on Schedule 8.05 may be repaid or redeemed and re-advanced or re-contributed as new intercompany investments up to the amount of such investments in effect as of the Closing Date); 
 (vii)    any Credit Party may make intercompany loans to any other Credit Party, (B) any Subsidiary of the
Company may make intercompany loans to any Credit Party and (C) any Foreign Subsidiary may make intercompany loans to another Foreign Subsidiary (collectively, “Intercompany Loans”); provided, that in the case of (A) and
(B) only (x) each Intercompany Loan shall be evidenced by an Intercompany Note, (y) each Intercompany Note issued to the Company or any Subsidiary Guarantor shall be pledged to the Collateral Agent pursuant to the Pledge Agreement and
(z) each Intercompany Note issued to a Subsidiary of the Company that is not a Credit Party shall contain subordination provisions reasonably satisfactory to the Administrative Agent; 
 (viii)    the Company and its Subsidiaries may make intercompany loans to, or investments in, any of its Foreign
Subsidiaries (collectively, “Foreign Subsidiary Loans”); 
 (ix)    the Company and the
Subsidiary Guarantors may make equity contributions to the capital of their respective Subsidiaries which are Credit Parties; 
 (x)    the Company and its Subsidiaries may create or acquire new Subsidiaries to the extent otherwise permitted hereunder; 
 (xi)    the Company and its Subsidiaries may transfer inventory or equipment not otherwise reasonably required for the operations of the Company or any of its Domestic Subsidiaries to any Foreign
Subsidiary to the extent such Foreign Subsidiary pays for such inventory or equipment in cash equal to the fair market value thereof; 
 (xii)    the Company and its Subsidiaries shall be permitted to make Capital Expenditures; 
 (xiii)    the Company and its Subsidiaries may enter into transactions permitted under Section 8.02; 
 (xiv)    the Company and its Subsidiaries may enter into guarantees to the extent permitted by Section 8.04;

 (xv)    subject to the provisions of this Section 8.05(xv) and the requirements contained in the
definition of Permitted Acquisition, the Qualified Credit Parties and Wholly-Owned Foreign Subsidiaries of the Company may from time to time after the Closing Date effect Permitted Acquisitions, so long as (i) no Default or Event of Default is
in existence at the time of the consummation of such Permitted Acquisition or would result after giving effect thereto and all representations and warranties contained herein or in the other Credit Documents shall be true and 

  

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correct in all material respects with the same effect as though such representations and warranties were made on and as of the date of such Permitted
Acquisition (both before and after giving effect thereto), unless stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date,
(ii) the aggregate consideration for all Permitted Acquisitions effected after the Closing Date pursuant to this clause (xv) (excluding common equity of the Company (or options or warrants for common equity of the Company) issued as
consideration for such Permitted Acquisition), together with all other advances, investments and loans made pursuant to this Section 8.05, does not exceed the Permitted Dividend Amount as in effect at the time of such Permitted Acquisition to
the extent permitted at such time by clause (iii) of Section 8.03, provided that the limitation set forth in this clause (ii) shall not apply with respect to the acquisition of a domestic entity if, after giving effect to such
Permitted Acquisition, the Interest Coverage Ratio for the then most recently ended Test Period is greater than 2.00:1.00 determined on a pro forma basis, (iii) in the case of acquisitions effected by any Credit Party, such Credit
Party is able to, and does, grant a Lien to the Collateral Agent for the benefit of the Secured Creditors on and security interest in assets acquired thereby in connection with such Permitted Acquisition and (iv) the Company shall have
delivered to the Administrative Agent an officer’s certificate executed by an Authorized Officer of the Company, certifying to the best of his knowledge, compliance with the requirements of preceding clauses (i) through (iii); 

(xvi)    investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent
accounts and disputes with, customers and suppliers, in each case in the ordinary course of business; 
 (xvii)    investments of any Person existing at the time such Person becomes a Subsidiary of the Company or at the time such Person merges or consolidates with the Company or any of its Subsidiaries, in either case, as
the result of a Permitted Acquisition in compliance with the terms of this Agreement; provided that such investments were not made by such Person in connection with, or in anticipation or contemplation of, such Person becoming a Subsidiary of
the Company or such merger or consolidation; 
 (xviii)    investments made after the Effective Date in
the Asian Latex Businesses in an aggregate amount not to exceed $25,000,000; 
 (xix)    the Company and
its Subsidiaries may make loans, advances, capital contributions and other investments for the purchase of equity interests in CPPC-Decorative Products Company Limited and Decorative Products (Singapore) Pte. Ltd.; provided that, after giving
effect to such investments, CPPC-Decorative Products Company Limited and Decorative Products (Singapore) Pte. Ltd. shall be Wholly-Owned Subsidiaries of the Company; and 
 (xx)    the Company and its Subsidiaries may make additional advances, investments and loans after the Effective Date
to the extent not otherwise permitted under this Section 8.05 so long as the aggregate amount of such advances, investments and loans, together with all other advances, investments and loans made pursuant to this Section 8.05, shall not
exceed the Permitted Dividend Amount as in effect at the time of such advances, investments and loans to the extent permitted at such time by clause (iii) of Section 8.03 and clause (xv) of this Section 8.05. 
 8.06    Transactions with Affiliates. The Company will not, and will not permit any of its Subsidiaries to, enter into any
transaction or series of related transactions, whether or not in the ordinary course of business, with any Affiliate of the Company or any of its Subsidiaries, other than on terms and conditions substantially as favorable to the Company or such
Subsidiary as would reasonably be 

  

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obtained by the Company or such Subsidiary at that time in a comparable arm’s-length transaction with a Person other than an Affiliate, except that:

 (i)    Dividends may be paid to the extent provided in Section 8.03; 
 (ii)    transactions permitted under Section 8.02 shall be permitted; 
 (iii)    loans may be made and other transactions may be entered into by the Company and its Subsidiaries to the
extent permitted by Section 8.05; 
 (iv)    the Company and its Subsidiaries may enter into other
transactions between or among the Company and its Subsidiaries not involving any other Affiliate; 
 (v)    customary fees paid to members of the board of directors of the Company and its Subsidiaries for their services as directors not in excess of fees paid to directors who are not Affiliates; and 
 (vi)    issuances of equity interests, payments of bonuses and other transactions permitted pursuant to employment or
compensation agreements, option agreements, incentive plans, indemnification agreements and other arrangements with employees and directors of the Company or any of its Subsidiaries, in each case so long as the foregoing are on terms not materially
more beneficial to such officers and directors as those provided by companies of similar size and similar financial condition as the Company and its Subsidiaries. 
 8.07    Limitation on Payments of Certain Indebtedness; Modifications of Certain Indebtedness; Modifications of Certificate of Incorporation, By-Laws and Certain Agreements; etc. The Company
will not, and will not permit any of their Subsidiaries to: 
 (i)    amend or modify, or permit the
amendment or modification of, any provision of (x) any ABL Credit Document in a manner which is adverse to the interests of the Lenders in any material respect or in a manner which is prohibited by the terms of the ABL/Term Loan Inter-creditor
Agreement or (y) any documentation entered into in connection with the other Indebtedness referred to in this clause (i) in a manner which is adverse to the interests of the Lenders in any material respect; or 
 (ii)    amend, modify or change its certificate of incorporation or limited liability company agreement or by-laws
(if any), or any agreement entered into by it, with respect to its capital stock or other equity interests, or enter into any new agreement with respect to its capital stock or other equity interests, other than any amendments, modifications or
changes pursuant to this clause (ii) or any such new agreements which are not adverse in any material respect to the interests of the Lenders and the terms of any such amendment, modification, change or other action will not violate any of the
other provisions of this Agreement or any other Credit Document. 
 8.08    Limitation on Certain Restrictions on
Subsidiaries. 
 The Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, create or otherwise cause
or suffer to exist or become effective any encumbrance or restriction on the ability of any such Subsidiary to (a) pay dividends or make any other distributions on its capital stock or any other interest or participation in its profits owned by
any of its Subsidiaries, or pay any Indebtedness owed to any of its Subsidiaries, (b) make loans or advances to any of its Subsidiaries, or (c) transfer any of its properties or assets to any of its Subsidiaries, except for such
encumbrances or restrictions 

  

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existing under or by reason of (i) applicable law, (ii) this Agreement and the other Credit Documents, (iii) the ABL Credit Agreement and the
other ABL Credit Documents, (iv) customary provisions restricting subletting or assignment of any lease governing a leasehold interest of any of its Subsidiaries, (v) customary provisions restricting assignment of any agreement entered
into by the Company or any Subsidiary of the Company in the ordinary course of business, (vi) customary provisions restricting the transfer of assets subject to Liens permitted under Section 8.01(iii), (vii), (viii), (ix) and (xviii),
(vii) any restrictions contained in contracts for the sale of assets permitted in accordance with Section 8.02 solely in respect of the assets to be sold pursuant to such contract, (viii) any restrictions or conditions imposed by any
agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness and (ix) in the case of clauses (b) and (c) above, customary
restrictions in joint venture agreements entered into by the Company or its Subsidiaries. 
 8.09    Limitation on
Issuance of Equity. 
 (a)    The Company will not permit any of its Subsidiaries to issue any capital stock or other
equity interests (including by way of sales of treasury stock) or any options or warrants to pur chase, or securities convertible into, capital stock or other equity interests, except (i) for transfers and replacements of then outstanding
shares of capital stock or other equity interests, (ii) for stock splits, stock dividends and similar issuances which do not decrease the percentage ownership of any of its Subsidiaries in any class of the capital stock or other equity
interests of such Subsidiary, (iii) for issuances by newly created or acquired Subsidiaries in accordance with the terms of this Agreement, (iv) to qualify directors to the extent required by applicable law or (v) with respect to
Foreign Subsidiaries, any options to purchase shares of capital stock or other equity interests of such Foreign Subsidiaries to the extent required by the laws of the foreign jurisdiction in which such Foreign Subsidiary is organized. 
 (b)    The Company will not, and will not permit any of its Subsidiaries to, issue (i) any class of preferred equity or
(ii) any class of redeemable (except at the sole option of the Company or such Subsidiary) common equity; notwithstanding the foregoing and for the avoidance of doubt, the Company may issue common equity and/or options and warrants for the same
in an unlimited amount so long as such common equity and/or options and warrants are not of the type described above in this clause (b). 
 8.10    Business. The Company will not, and will not permit any of its Subsidiaries to, engage (directly or indirectly) in any business other than any of the lines of business conducted by the Company and its
Subsidiaries on the Closing Date and any business similar, ancillary or related thereto or which constitutes a reasonable extension or expansion thereof, including in connection with the Company’s existing and future technology, trademarks and
patents. 
 8.11    Limitation on the Creation of Subsidiaries. Notwithstanding anything to the contrary contained
in this Agreement, the Company will not, and will not permit any of its Subsidiaries to, establish, create or acquire any Subsidiary; provided that (1) the Company may establish or create non-Wholly-Owned Subsidiaries pursuant to
Section 8.05(xv), (xvii) or (xviii) and (2) the Company and its Subsidiaries shall be permitted to establish or create and, to the extent permitted by this Agreement, acquire Wholly-Owned Subsidiaries (it being understood and
agreed that, in connection with the creation of any non-Wholly-Owned Subsidiary under Section 8.05(xv) and any Wholly-Owned Subsidiary, subject to the terms and conditions of Section 7.11 hereof, (i) the capital stock of such new
Subsidiary to the extent owned by the Company (up to 65% of the capital stock of any such new Foreign Subsidiary) or any other Credit Party is promptly pledged pursuant to, and to the extent required by, the respective Pledge Agreement and the
certificates representing such stock, together with stock powers duly executed in blank, are delivered to the Collateral Agent and (ii) such new Subsidiary (to the extent it is a Domestic Subsidiary) promptly executes a counterpart of the
Pledge Agreement, the Security Agreement, the ABL/Term Loan 
  

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Intercreditor Agreement and the Subsidiary Guarantee, in each case by executing and delivering to the Administrative Agent a counterpart of a Joinder
Agreement, in each case on the same basis (and to the same extent) as such Subsidiary would have executed such Credit Documents if it were a Credit Party on the Closing Date). In addition, at the reasonable request of the Administrative Agent, each
new Wholly-Owned Subsidiary shall execute and deliver, or cause to be executed and delivered, all other relevant documentation of the type described in Section 5 as such new Wholly-Owned Subsidiary would have had to deliver if such new
Wholly-Owned Subsidiary were a Credit Party on the Closing Date. 
 8.12    Multiemployer Plans. Neither the
Company nor any of its Subsidiaries shall partially or totally withdraw any amounts from a Plan or Multiemployer Plan (as defined in Section 4001(a)(3) of ERISA) without the prior written consent of the Required Lenders, unless the withdrawal
liability of the Company and its Subsidiaries from all such withdrawals in the aggregate shall not exceed $5,000,000. 
 8.13    Net Leverage Ratio. The Company shall not permit the Net Leverage Ratio as of any Test Period to exceed 5.50:1.00. 
 SECTION 9.    Events of Default. Upon the occurrence of any of the following specified events (each an “Event of Default”): 
 9.01    Payments. (a) The Company shall (i) default in the payment when due of any principal of any Loan or any Note or
(ii) default, and such default shall continue unremedied for three or more Business Days, in the payment when due of any interest on any Loan or Note, or any Fees or any other amounts owing hereunder or under any other Credit Document or
(b) any Guarantor shall default in the payment of any amount, in respect of any payment of the type described in clause (a)(ii) above pursuant to its Guarantee, and such default shall continue unremedied for three or more Business Days; or

 9.02    Representations, etc. Any representation, warranty or statement made by any Credit Party herein or in
any other Credit Document or in any certificate delivered pursuant hereto or thereto shall prove to be untrue in any material respect on the date as of which made; or 
 9.03    Covenants. Any Credit Party shall (i) default in the due performance or observance by it of any term, covenant or agreement contained in Section 7.01(f)(i), the second
sentence of Section 7.02, Section 7.11 or Section 8, (ii) default in the due performance or observance by it of any term, covenant or agreement contained in Section 7.01(a), Section 7.01(b), Section 7.01(c),
Section 7.01(d), Section 7.03(b) or Section 7.12 and such default shall continue unremedied for a period of 15 days after written notice to the defaulting party by the Administrative Agent or the Required Lenders or (iii) default
in the due performance or observance by it of any other term, covenant or agreement contained in this Agreement (other than as provided in Section 9.01) and such default shall continue unremedied for a period of 30 days after written notice to
the defaulting party by the Administrative Agent or the Required Lenders; or 
 9.04    Default Under Other
Agreements. (i) The Company or any of its Subsidiaries shall (x) default in any payment of any Indebtedness (other than the Obligations) beyond the period of grace, if any, provided in the instrument or agreement under which such
Indebtedness was created or (y) default in the observance or performance of any agreement or condition relating to any such Indebtedness 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 the holder or holders of such Indebtedness (or a trustee or Administrative Agent on behalf of such holder or holders) to cause (determined without
regard to whether any notice is required), any such Indebtedness to become due prior to its stated maturity, or (ii) any such Indebtedness of the Company or any of its Subsidiaries 

  

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shall be declared to be due and payable, or required to be prepaid other than by a regularly scheduled prepayment or required prepayment (other than pursuant
to a “due-on-sale” clause in a mortgage or similar security agreement) (unless such required prepayment results from a default thereunder or an event of the type that constitutes an Event of Default), prior to the stated maturity thereof;
provided that it shall not be a Default or an Event of Default under this Section 9.04 unless the aggregate outstanding principal amount of all Indebtedness as described in preceding clauses (i) and (ii) is at least
$10,000,000; provided further that with respect to any failure or breach or default under Section 7.23 of the ABL Credit Agreement (or any default arising under Section 9.1 of the ABL Credit Agreement arising solely as a
result of a failure, breach or default under such Section 7.23), such event shall only constitute an Event of Default under this Section 9.04 upon the earlier of (1) acceleration (or the Lenders thereunder having the right to so
accelerate) of the Indebtedness under the ABL Credit Agreement and (2) such event not having been cured or waived within 30 days after the occurrence of such event (the “Stand Still Period”); or 
 9.05    Bankruptcy, etc. The Company or any of its Subsidiaries shall commence a voluntary case concerning itself under Title
11 of the United States Code entitled “Bankruptcy,” as now or hereafter hi effect, or any successor thereto (the “Bankruptcy Code”); or an involuntary case is commenced against the Company or any of its Subsidiaries and the
petition is not controverted within 10 days, or is not dismissed within 60 days, after commencement of the case; or a custodian (as defined in the Bankruptcy Code) is appointed for, or takes charge of, all or substantially all of the property of the
Company or any of its Subsidiaries, or the Company or any of its Subsidiaries commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any
jurisdiction whether now or hereafter in effect relating to the Company or any of its Subsidiaries, or there is commenced against the Company or any of its Subsidiaries any such proceeding which remains undismissed for a period of 60 days; or the
Company or any of its Subsidiaries is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding is entered; or the Company or any of its Subsidiaries suffers any appointment of any custodian or
the like for it or any substantial part of its property to continue undischarged or unstayed for a period of 60 days; or the Company or any of its Subsidiaries makes a general assignment for the benefit of creditors; or any corporate action is taken
by the Company or any of its Subsidiaries for the purpose of effecting any of the foregoing; or 
 9.06    ERISA.
An ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA Events that have occurred, has resulted or could reasonably be expected to result in liability of the Company and/or its
Subsidiaries in an amount that could have a Material Adverse Effect; or 
 9.07    Security Documents. Except
(x) in each case to the extent resulting from the failure of the Collateral Agent to retain possession of the applicable Pledged Securities and (y) in respect of an immaterial portion of the Collateral, at any time after the execution and
delivery thereof, any of the Security Documents shall cease to be in full force and effect, or shall cease to give the Collateral Agent for the benefit of the Secured Creditors the First Priority Liens, rights, powers and privileges purported to be
created thereby (including, without limitation, a perfected security interest in, and Lien on, all of the Collateral to the extent required by the Security Documents), in favor of the Collateral Agent, and subject to no other Liens other than
Permitted Liens, or any Credit Party shall default in the due performance or observance of any term, covenant or agreement on its part to be performed or observed pursuant to any of the Security Documents; or 
 9.08    Guarantees. (a) Any Guarantee or any provision thereof shall cease to be in full force or effect as to the
relevant Guarantor, or any Guarantor or Person acting by or on behalf of such Guarantor shall deny or disaffirm such Guarantor’s obligations under the relevant Guarantee, or (b) except as otherwise provided in Section 9.01 (b), any
Guarantor shall default in the due performance or observance 

  

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of any term, covenant or agreement on its part to be performed or observed pursuant to such Guarantee; provided that, with respect to defaults under
the Subsidiary Guarantee which relate to covenants in Section 7 of this Agreement for which a grace period is applicable under Section 9.03(iii), such Guarantors shall have the benefit of the grace period set forth in
Section 9.03(iii); or 
 9.09    Judgments. One or more judgments or decrees shall be entered against the
Company or any of its Subsidiaries involving in the aggregate for the Company and its Subsidiaries a liability of $ 10,000,000 or more (not paid or fully covered by a reputable and solvent insurance company) and such judgments or decrees shall not
have been vacated, discharged or stayed or bonded pending appeal within 60 days from the entry thereof; or 
 9.10    Change of Control. A Change of Control shall have occurred; or 
 9.11    ABL/Term Loan Intercreditor Agreement. Any provision of the ABL/Term Loan Intercreditor Agreement which is material to the interests of the Lenders shall cease to be in full force or effect (except in
accordance with its terms); 
 then, and in any such event, and at any time thereafter, if any Event of Default shall then be continuing, the Administrative
Agent, upon the written request of the Required Lenders, shall by written notice to the Company, take any or all of the following actions, without prejudice to the rights of the Administrative Agent, any Lender or the holder of any Note to enforce
its claims against any Credit Party (provided, that, if an Event of Default specified in Section 9.05 shall occur with respect to the Company, the result which would occur upon the giving of written notice by the Administrative Agent to
the Company as specified in clauses (i) and (ii) below shall occur automatically without the giving of any such notice): (i) declare the Total Commitments terminated, whereupon the Commitment of each Lender shall forthwith terminate
immediately; (ii) declare the principal of and any accrued interest in respect of all Loans and the Notes and all Obligations owing hereunder and thereunder to be, whereupon the same shall become, forthwith due and payable without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by each Credit Party; (iii) enforce, as Collateral Agent, all of the Liens and security interests created pursuant to the Security Documents; and (iv) apply any
cash collateral held pursuant to this Agreement to pay Obligations. 
 SECTION 10.    The Administrative Agent.

 10.01    Appointment. 
 (a)    The Lenders hereby irrevocably designate and appoint DBTCA as Administrative Agent (for purposes of this Section 10 and Section 11.01, the term “Administrative Agent”
also shall include DBTCA in its capacity as Collateral Agent pursuant to the Security Documents) to act as specified herein and in the other Credit Documents. Each Lender hereby irrevocably authorizes, and each holder of any Note by the acceptance
of such Note shall be deemed irrevocably to authorize, the Administrative Agent to take such action on its behalf under the provisions of this Agreement, the other Credit Documents and any other instruments and agreements referred to herein or
therein and to exercise such powers and to perform such duties hereunder and thereunder as are specifically delegated to or required of the Administrative Agent by the terms hereof and thereof and such other powers as are reasonably incidental
thereto. The Administrative Agent may perform any of its respective duties here under by or through its officers, directors, agents, employees or affiliates. 
 (b)    Each Lender hereby authorizes the Administrative Agent to take such action as agent on its behalf and for its benefit and to exercise such powers under this Agreement and the other 

  

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Credit Documents as are delegated to such Administrative Agent by the terms hereof and thereof, together with powers as are reasonably incidentally thereto.

 10.02    Nature of Duties. The Administrative Agent shall not have any duties or responsibilities except those
expressly set forth in this Agreement and in the other Credit Documents. Neither the Administrative Agent nor any of its officers, directors, agents, employees or affiliates shall be liable for any action taken or omitted by it or them hereunder or
under any other Credit Document or in connection herewith or therewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Administrative Agent shall be mechanical and administrative in nature; the Administrative
Agent shall not have by reason of this Agreement or any other Credit Document a fiduciary relationship in respect of any Lender or the holder of any Note; and nothing in this Agreement or in any other Credit Document, expressed or implied, is
intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of this Agreement or any other Credit Document except as expressly set forth herein or therein. 
 10.03    Lack of Reliance on the Administrative Agent. Independently and without reliance upon the Administrative Agent, each
Lender and the holder of each Note, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the Company and its Subsidiaries in connection with the
making and the continuance of the Loans and the taking or not taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness of the Company and its Subsidiaries and, except as expressly provided in this
Agreement, the Administrative Agent shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Lender or the holder of any Note with any credit or other information with respect thereto, whether coming into
its possession before the making of the Loans or at any time or times thereafter. The Administrative Agent shall not be responsible to any Lender or the holder of any Note for any recitals, statements, information, representations or warranties
herein or in any document, certificate or other writing delivered in connection herewith or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectibility, priority or sufficiency of this Agreement or any other
Credit Document or the financial condition of the Company and its Subsidiaries or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreement or any other Credit
Document, or the financial condition of the Company and its Subsidiaries or the existence or possible existence of any Default or Event of Default. 
 10.04    Certain Rights of the Administrative Agent. If the Administrative Agent shall request instructions from the Required Lenders with respect to any act or action (including failure to act) in connection with
this Agreement or any other Credit Document, the Administrative Agent shall be entitled to refrain from such act or taking such action unless and until the Administrative Agent shall have received instructions from the Required Lenders; and the
Administrative Agent shall not incur liability to any Lender or the holder of any Note by reason of so refraining. Without limiting the foregoing, no Lender or the holder of any Note shall have any right of action whatsoever against the
Administrative Agent as a result of the Administrative Agent acting or refraining from acting hereunder or under any other Credit Document in accordance with the instructions of the Required Lenders. 
 10.05    Reliance. The Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any note,
writing, resolution, notice, statement, certificate, telex, teletype or telecopier message, cablegram, radiogram, order or other document or telephone message signed, sent or made by any Person that the Administrative Agent believed to be the proper
Person, and, with respect to all legal matters pertaining to this Agreement and any other Credit Document and its duties hereunder and thereunder, upon advice of counsel selected by the Administrative Agent. 
 10.06    Indemnification. 
  

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 (a)    To the extent the Administrative Agent (or any affiliate thereof) is not
reimbursed and indemnified by the Company, the Lenders will reimburse and indemnify the Administrative Agent (and any affiliate thereof), in proportion to their respective “percentage” as used in determining the Required Lenders
(determined by the Lenders share of the aggregate outstanding Loans at the time), for and against any and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments, costs, expenses or disbursements of whatsoever kind or
nature (including, without limitation, any customary indemnifications provided to a deposit account bank pursuant to a “control agreement” referred to in the Security Agreement) which may be imposed on, asserted against or incurred by the
Administrative Agent (or any affiliate thereof) in performing its respective duties hereunder or under any other Credit Document, (including with respect to any agreements or other instruments referred to herein or therein) or in any way relating to
or arising out of this Agreement or any other Credit Document; provided that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, claims, actions, judgments, suits, costs, expenses or
disbursements resulting from the Administrative Agent’s (or such affiliate’s) bad faith, gross negligence, willful misconduct or violation of law (each as determined by a court of competent jurisdiction). 
 (b)    The Administrative Agent (and any affiliate thereof) shall be fully justified in failing or refusing to take any action
hereunder and under any other Credit Document (except actions expressly required to be taken by it hereunder or under the Credit Documents) unless it shall first be indemnified to its satisfaction by the Lenders pro rata against any and all
liability, cost and expense that it may incur by reason of taking or continuing to take any such action. 
 10.07    The Administrative Agent in its Individual Capacity. With respect to its obligation to make Loans under this Agreement, the Administrative Agent shall have the rights and powers specified herein for a
“Lender” and may exercise the same rights and powers as though it were not performing the duties specified herein; and the term “Lenders,” “Required Lenders,” “holders of Notes” or any similar terms shall,
unless the context clearly indicates otherwise, include the Administrative Agent in its respective individual capacities. The Administrative Agent and its affiliates may accept deposits from, lend money to, and generally engage in any kind of
banking, investment banking, trust or other business with, or provide debt financing, equity capital or other services (including financial advisory services) to any Credit Party or any Affiliate of any Credit Party (or any Person engaged in a
similar business with any Credit Party or any Affiliate thereof) as if they were not performing the duties specified herein, and may accept fees and other consideration from any Credit Party or any Affiliate of any Credit Party for services in
connection with this Agreement and otherwise without having to account for the same to the Lenders. 
 10.08    Holders. The Administrative Agent may deem and treat the payee of any Note as the owner thereof for all purposes hereof unless and until a written notice of the assignment, transfer or endorsement
thereof, as the case may be, shall have been filed with the Administrative Agent. Any request, authority or consent of any Person who, at the time of making such request or giving such authority or consent, is the holder of any Note shall be
conclusive and binding on any subsequent holder, transferee, assignee or endorsee, as the case may be, of such Note or of any Note or Notes issued in exchange therefor. 
 10.09    Resignation by the Administrative Agent. 
 (a)    The Administrative Agent may resign from the performance of all its respective functions and duties hereunder and/or under the other Credit Documents at any time by giving 15 Business Days’ prior written
notice to the Lenders and, unless a Default or an Event of Default under Section 9.05 then exists, the Company. 
  

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 (b)    Upon any such notice of resignation by the Administrative Agent, the Required
Lenders shall appoint a successor Administrative Agent hereunder or thereunder who shall be a commercial bank or trust company reasonably acceptable to the Company, which acceptance shall not be unreasonably withheld or delayed (provided that
the Company’s approval shall not be required if an Event of Default then exists). 
 (c)    If a successor
Administrative Agent shall not have been so appointed within such 15 Business Day period, the Administrative Agent, with the consent of the Company (which consent shall not be unreasonably withheld or delayed, provided that the Company’s
consent shall not be required if an Event of Default then exists), shall then appoint a successor Administrative Agent who shall serve as Administrative Agent hereunder or thereunder until such time, if any, as the Required Lenders appoint a
successor Administrative Agent as provided above. 
 (d)    If no successor Administrative Agent has been appointed
pursuant to clause (b) or (c) above by the 30th Business Day after the date such notice of resignation was given by the Administrative Agent, the Administrative Agent’s resignation shall become effective and the Required Lenders shall
thereafter perform all the duties of the Administrative Agent hereunder and/or under any other Credit Document until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided above. 
 (e)    Upon a resignation of the Administrative Agent pursuant to this Section 10.09, the Administrative Agent shall remain
indemnified to the extent provided in this Agreement and the other Credit Documents and the provisions of this Section 10 shall continue in effect for the benefit of the Administrative Agent for all of its actions and inactions while serving as
the Administrative Agent. 
 SECTION 11.    Miscellaneous. 
 11.01    Payment of Expenses, etc. The Company hereby agrees to: (a) whether or not the transactions herein contemplated
are consummated, pay all reasonable out-of-pocket costs and expenses (including Expenses) of the Administrative Agent and the Collateral Agent (including, without limitation, the reasonable fees and disbursements of Cahill Gordon & Reindel
LLP and the Administrative Agent’s other counsel and consultants) in connection with the preparation, execution, delivery and administration of this Agreement and the other Credit Documents and the documents and instruments
referred to herein and therein and any amendment, waiver or consent relating hereto or thereto, of the Administrative Agent and its affiliates in connection with its or their syndication efforts with respect to this Agreement and of the
Administrative Agent and, after the occurrence and during the continuance of an Event of Default, each of the Lenders in connection with the enforcement of this Agreement and the other Credit Documents and the documents and instruments referred to
herein and therein or in connection with any refinancing or restructuring of the credit arrangements provided under this Agreement in the nature of a “work-out” or pursuant to any insolvency or bankruptcy proceedings (including, in each
case without limitation, the reasonable fees and disbursements of counsel and consultants for the Administrative Agent and, after the occurrence and during the continuance of an Event of Default, counsel for Lenders); (b) pay and hold the
Administrative Agent and each of the Lenders harmless from and against any and all present and future stamp, excise and other similar documentary taxes with respect to the foregoing matters and save the Administrative Agent and each of the Lenders
harmless from and against any and all liabilities with respect to or resulting from any delay or omission (other than to the extent attributable to the Administrative Agent or such Lender) to pay such taxes; and (c) indemnify the Administrative
Agent, the Collateral Agent and each Lender, and each of their respective officers, directors, employees, representatives, agents, affiliates, trustees and investment advisors from and hold each of them harmless against any and all liabilities,
obligations (including removal or remedial actions), losses, damages, penalties, claims, actions, judgments, suits, costs, expenses and disbursements (including reasonable attorneys’ and consultants’ 

  

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fees and disbursements) incurred by, imposed on or assessed against any of them as a result of, or arising out of, or in any way related to, or by reason of,
(i) any investigation, litigation or other proceeding (whether or not the Administrative Agent, the Collateral Agent or any Lender is a party thereto and whether or not such investigation, litigation or other proceeding is brought by or on
behalf of any Credit Party) related to the entering into and/or performance of this Agreement or any other Credit Document or the use of the proceeds of any Loans hereunder or the consummation of the Transaction or any other transactions
contemplated herein or in any other Credit Document or the exercise of any of their rights or remedies provided herein or in the other Credit Documents, or (ii) the presence of Hazardous Material in the air, surface water or groundwater or on
the surface or subsurface of any Real Property at any time owned, leased or operated by the Company or any of its Subsidiaries, the generation, storage, transportation, handling or disposal of Hazardous Material by the Company or any of its
Subsidiaries at any location, whether or not owned, leased or operated by the Company or any of its Subsidiaries, the noncompliance by the Company or any of its Subsidiaries with any Environmental Law (including applicable permits thereunder)
applicable to their respective operations or any Real Property, or any Environmental Claim asserted against the Company, any of its Subsidiaries or any Real Property at any time owned, leased or operated by the Company or any of its Subsidiaries,
including, in each case, without limitation, the reasonable fees and disbursements of counsel and other consultants incurred in connection with any such investigation, litigation or other proceeding (but excluding any losses, liabilities, claims,
damages or expenses to the extent incurred by reason of the bad faith, gross negligence, willful misconduct or violation of law of the Person to be indemnified (each as determined by a court of competent jurisdiction)). To the extent that the
undertaking to indemnify, pay or hold harmless the Administrative Agent, the Collateral Agent or any Lender set forth in the preceding sentence may be unenforceable because it is violative of any law or public policy, the Company agrees to make the
maximum contribution to the payment and satisfaction of each of the indemnified liabilities which is permissible under applicable law. 
 11.02    Right of Setoff. 
 (a)    In addition to any rights now or hereafter
granted under applicable law or otherwise, and not by way of limitation of any such rights, upon the occurrence and during the continuance of an Event of Default, each Lender is hereby authorized at any time or from time to time, without
presentment, demand, protest or other notice of any kind to any Credit Party or to any other Person, any such notice being hereby expressly waived, to set off and to appropriate and apply any and all deposits (general or special) and any other
Indebtedness at any time held or owing by such Lender (including, without limitation, by branches and agencies of such Lender wherever located) to or for the credit or the account of each Credit Party against and on account of the Obligations and
liabilities of such Credit Party to such Lender under this Agreement or under any of the other Credit Documents, including, without limitation, all interests in Obligations purchased by such Lender pursuant to Section 11.06(b), and all other
claims of any nature or description arising out of or connected with this Agreement or any other Credit Document, irrespective of whether or not such Lender shall have made any demand hereunder and although said Obligations, liabilities or claims,
or any of them, shall be contingent or unmatured. 
 11.03    Notices. Except as otherwise expressly provided
herein, all notices and other communications provided for hereunder shall be in writing (including facsimile communication) and mailed, telecopied or delivered: if to the Company, at its address specified opposite its signature below; if to any
Lender, at its address specified on Schedule 1.01(b); and if to the Administrative Agent, at its Notice Office; or, as to any Credit Party or the Administrative Agent, at such other address as shall be designated by such party in a written notice to
the other parties hereto and, as to each Lender, at such other ad dress as shall be designated by such Lender in a written notice to the Company and the Administrative Agent. All such notices and communications shall, when mailed, telegraphed,
telexed, facsimiled, or cabled or sent by overnight courier, be effective three Business Days after deposited in the mails, certified, return receipt requested, when delivered to the telegraph company, cable company or one day following 

  

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delivery to an overnight courier, as the case may be, or when sent by telex or facsimile device, except that notices and communications to the Administrative
Agent shall not be effective until received by the Administrative Agent. 
 11.04    Benefit of Agreement;
Assignments; Participations. 
 (a)    This Agreement shall be binding upon and inure to the benefit of and be
enforceable by the respective successors and assigns of the parties hereto; provided, however, no Credit Party may assign or transfer any of its rights, obligations or interest hereunder or under any other Credit Document without the
prior written consent of all of the Lenders; and provided, further, that although any Lender may transfer, assign or grant participations in its rights hereunder, such Lender shall remain a “Lender” for all purposes hereunder
(and may not transfer or assign all or any portion of its Commitments or Loans hereunder except as provided in Sections 2.13 and 11.04(b)) and the transferee, assignee or the participant as the case may be shall not constitute a “Lender”
hereunder; and provided, further, that no Lender shall transfer or grant any participation under which the participant shall have rights to approve any amendment to or waiver of this Agreement or any other Credit Document except to the
extent such amendment or waiver would (i) extend the final scheduled maturity of any Loan or Note in which such participant is participating, or reduce the rate or extend the time of payment of interest or Fees thereon (except in connection
with a waiver of applicability of any post-default increase in interest rates) or reduce the principal amount thereof, (it being understood that any amendment or modification to the financial definitions in this Agreement or to Section 11.07(a)
shall not constitute a reduction in the rate of interest or Fees payable hereunder), or increase the amount of the participant’s participation over the amount thereof then in effect (it being understood that a waiver of any Default or Event of
Default or of a mandatory reduction in the Total Commitment shall not constitute a change in the terms of any Commitment, and that an increase in any Commitment shall be permitted without the consent of any participant if the participant’s
participation is not increased as a result thereof), (ii) consent to the assignment or transfer by any Credit Party of any of its rights and obligations under this Agreement or (iii) release all or substantially all of the Collateral under
all of the Security Documents (in each case except as expressly provided in the Credit Documents), or any Guarantor or Guarantee (in each case except as expressly provided in the relevant Credit Documents) supporting the Loans hereunder in which
such participant is participating. In the case of any such participation, the participant shall not have any rights under this Agreement or any of the other Credit Documents (the participant’s rights against such Lender in respect of such
participation to be those set forth in the agreement executed by such Lender in favor of the participant relating thereto) and all amounts payable by the Company hereunder shall be determined as if such Lender had not sold such participation. A
participant shall not be entitled to receive any greater payment under Section 4.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such participant, unless the sale of the participation
to such participant is made with the Company’s prior written consent or the right to greater payment results from a change in law after the participant becomes a participant. Each Lender that sells a participation shall, acting solely for this
purpose as a non-fiduciary agent of the Company, maintain a register on which it enters the name and address of each participant and the principal amount of each participant’s interest in the Loans held by it (the “Participant
Register”). The entries in the Participant Register shall be conclusive, absent manifest error, and such Lender (but not any Agent, any Company or any other Lender) shall treat each Person whose name is recorded in the Participant Register
as the owner of such Loan or other obligation hereunder as the owner thereof for all purposes of this Agreement notwithstanding any notice to the contrary. 
 (b)    Notwithstanding the foregoing, any Lender (or any Lender together with one or more other Lenders) may (x) assign all or a portion of its Commitment and related outstanding Obligations
(or, if the Commitment has terminated, outstanding Obligations) hereunder to (i) (A) its parent company and/or any affiliate of such Lender which is at least 50% owned by such Lender or its parent 

  

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company or (B) to one or more other Lenders or any affiliate of any such other Lender which is at least 50% owned by such other Lender or its parent
company (provided that any fund that invests in loans and is managed or advised by the same investment advisor of another fund which is a Lender (or by an Affiliate of such investment advisor) shall be treated as an affiliate of such
other Lender for the purposes of this sub-clause (x)(i)(B)), or (ii) in the case of any Lender that is a fund that invests in loans, any other fund that invests in loans and is managed or advised by the same investment advisor of any Lender or
by an affiliate of such investment advisor or (y) assign all, or if less than all, a portion equal to at least $1,000,000 hereunder to one or more Eligible Transferees (treating any fund that invests in loans and any other fund that invests in
loans and is managed or advised by the same investment advisor of such fund or by an affiliate of such investment advisor as a single Eligible Transferee), each of which assignees shall become a party to this Agreement as a Lender by execution of an
Assignment and Assumption Agreement; provided that (v) at such time, Schedule 1.01 (a) shall be deemed modified to reflect the Commitments of such new Lender and of the existing Lenders, (w) upon the surrender of the relevant
Note by the assigning Lender (or, upon such assigning Lender’s indemnifying the Company for any lost Note pursuant to a customary indemnification agreement) new Notes will be issued, at the Company’s expense, to such new Lender and to the
assigning Lender upon the request of such new Lender or assigning Lender, such new Notes to be in conformity with the requirements of Section 2.05 (with appropriate modifications) to the extent needed to reflect the revised Commitments,
(x) the consent of the Administrative Agent shall be required in connection with any such assignment pursuant to clause (y) above (such consent, in any case, not to be unreasonably withheld, delayed or conditioned), (y) the
Administrative Agent shall receive at the time of each such assignment (other than an assignment between a Lender and its Affiliates), from the assigning or assignee Lender, the payment of a non-refundable assignment fee of $3,500 and (z) no
such transfer or assignment will be effective until recorded by the Administrative Agent on the Register pursuant to Section 11.14. To the extent of any assignment pursuant to this Section 11.04(b), the assigning Lender shall be relieved
of its obligations hereunder with respect to its assigned Commitment. 
 (c)    Nothing in this Agreement shall prevent
or prohibit any Lender from pledging its Loans and Notes hereunder to a Federal Reserve Bank in support of borrowings made by such Lender from such Federal Reserve Bank and, with prior notification to the Administrative Agent (but without the
consent of the Administrative Agent or the Company), any Lender which is a fund may pledge all or any portion of its Loans and Notes to its trustee or to a collateral agent providing credit or credit support to such Lender in support of its
obligations to such trustee, such collateral agent or a holder of such obligations, as the case may be. No pledge pursuant to this clause (c) shall release the transferor Lender from any of its obligations hereunder. 
 (d)    Any Lender which assigns all of its Commitment and/or Loans hereunder in accordance with Section 11.04(b) shall cease to
constitute a “Lender” hereunder, except with respect to indemnification provisions under this Agreement (including, without limitation, Sections 2.10, 2.11, 4.04, 10.06, 11.01 and 11.06), which shall survive as to such assigning Lender.

 11.05    No Waiver; Remedies Cumulative. No failure or delay on the part of the Administrative Agent or any
Lender or any holder of any Note in exercising any right, power or privilege hereunder or under any other Credit Document and no course of dealing between the Company or any other Credit Party and the Administrative Agent or any Lender or the holder
of any Note shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or privilege hereunder or under any other Credit Document preclude any other or further exercise thereof or the exercise of any other right,
power or privilege hereunder or thereunder. The rights, powers and remedies herein or in any other Credit Document expressly provided are cumulative and not exclusive of any rights, powers or remedies which the Administrative Agent or any Lender or
the holder of any Note would otherwise have. No notice to or demand on any Credit Party in any case shall entitle any Credit Party to any other or further 

  

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notice or demand in similar or other circumstances or constitute a waiver of the rights of the Administrative Agent or any Lender or the holder of any Note
to any other or further action in any circumstances without notice or demand. 
 11.06    Payments Pro Rata.

 (a)    The Administrative Agent agrees that promptly after its receipt of each payment from or on behalf of the
Company in respect of any Obligations hereunder, it shall distribute such payment to the Lenders pro rata based upon their respective shares, if any, of the Obligations with respect to which such payment was received. 
 (b)    Each of the Lenders agrees that, if it should receive any amount hereunder (whether by voluntary payment, by realization upon
security, by the exercise of the right of setoff or banker’s lien, by counterclaim or cross action, by the enforcement of any right under the Credit Documents, or otherwise), which is applicable to the payment of the principal of, or interest
on, the Loans or Fees, of a sum which with respect to the related sum or sums received by other Lenders is in a greater proportion than the total of such Obligation then owed and due to such Lender bears to the total of such Obligation then owed and
due to all of the Lenders immediately prior to such receipt, then such Lender receiving such excess payment shall purchase for cash without recourse or warranty from the other Lenders an interest in the Obligations of the respective Credit Party to
such Lenders in such amount as shall result in a proportional participation by all the Lenders in such amount; provided that if all or any portion of such excess amount is thereafter recovered from such Lender, such purchase shall be
rescinded and the purchase price restored to the extent of such recovery, but without interest. 
 11.07    Calculations; Computations. 
 (a)    The financial statements to be
furnished to the Lenders pursuant hereto shall be made and prepared in accordance with generally accepted accounting principles in the United States consistently applied throughout the periods involved (except as set forth in the notes thereto or as
other wise disclosed in writing by the Company to the Lenders; it being understood and agreed that notes may be absent in the interim financial statements). In addition, except as otherwise specifically provided herein, all computations determining
compliance with Sections 4.02 and 8, including definitions used therein, shall utilize accounting principles and policies in effect from time to time; provided that if any such accounting principle or policy shall change in any material
respect after the Effective Date, the Company shall give prompt notice thereof to the Administrative Agent and each of the Lenders and if within 90 days following such notice the Company, the Administrative Agent or the Required Lenders shall elect
by giving written notice of such election to the other parties hereto, such computations shall not give effect to such change unless and until this Agreement shall be amended pursuant to Section 11.12 to give effect to such change. Notwithstanding
the foregoing, to the extent expressly required pursuant to the provisions of this Agreement, certain calculations shall be made on a pro forma Basis. 
 (b)    All computations of interest and Fees hereunder shall be made on the basis of a year of 360 days (except for interest calculated by reference to the Prime Lending Rate, which shall be based
on a year of 365 or 366 days, as applicable) for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or Fees are payable. 
 11.08    GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. 
 (a)    THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL,

  

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EXCEPT AS OTHERWISE PROVIDED IN THE MORTGAGES, BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. Any legal action or
proceeding with respect to this agreement or any other credit document may be brought in the Courts of the State of New York or of the United States for the Southern District of New York, and, by execution and delivery of this agreement, the Company
hereby irrevocably accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid Courts. Each Credit Party hereby further irrevocably waives any claim that such courts lack jurisdiction over such
Credit Party, and agrees not to plead or claim, in any legal action or proceeding with respect to this Agreement or any other Credit Document brought in any of the aforesaid courts, that any such court lacks jurisdiction over such Credit Party. The
Company irrevocably consents to the service of process out of any of the aforementioned Courts in any such action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to the Company at its address set
forth opposite its signatures below, such service to become effective 30 days after such mailing. Nothing herein shall affect the right of the Administrative Agent under this Agreement, any lender or the holder of any note to serve process in any
other manner permitted by law or to commence legal proceedings or otherwise proceed against any Credit Party in any other jurisdiction. 
 (b)    The Company hereby irrevocably waives any objection which it may now or hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection with this Agreement or
any other credit document brought in the Courts referred to in clause (a) above and hereby further irrevocably waives and agrees not to plead or claim in any such Court that any such action or proceeding brought in any such Court has been
brought in an inconvenient forum. 
 (c)    Each of the parties to this Agreement hereby irrevocably waives all right to
a trial by jury in any action, proceeding or counterclaim arising out of or relating to this Agreement, the other credit documents or the transactions contemplated hereby or thereby. 
 11.09    Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto on
separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be lodged with the
Company and the Administrative Agent. Delivery of an executed counterpart hereof by facsimile or electronic transmission shall be as effective as delivery of an original executed counterpart hereof. 
 11.10    Effectiveness. This Agreement shall become effective on the date (the “Effective Date”) on which the
Company and each of the Lenders shall have signed a copy hereof (whether the same or different copies) and shall have delivered the same to the Administrative Agent at its Notice Office or, in the case of the Lenders, shall have given to the
Administrative Agent telephonic (confirmed in writing), written or facsimile transmission notice (actually received) in accordance with Section 11.03 at such office that the same has been signed and mailed to it. 
 11.11    Headings Descriptive. The headings of the several sections and subsections of this Agreement are inserted for
convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement. 
 11.12    Amendment or Waiver. 
 (a)    Neither this Agreement nor any other Credit
Document nor any terms hereof or thereof may be changed, waived, discharged or terminated unless such change, waiver, discharge or termination is in writing signed by the respective Credit Parties party hereto or thereto and the Required Lenders
(although additional parties may be added to (and annexes may be modified to reflect such 

  

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additions), and Subsidiaries of the Company may be released from, this Agreement, the Subsidiary Guarantee and the Security Documents in accordance with the
provisions hereof and thereof without the consent of the other Credit Parties party thereto or the Required Lenders); provided that no such change, waiver, discharge or termination shall, without the consent of each Lender (with Obligations
being directly affected in the case of following clause (i)), (i) extend the final scheduled maturity of any Loan or Note beyond the Final Maturity Date, or reduce (or forgive) the rate or extend the time of payment of interest or Fees thereon
(except in connection with the waiver of applicability of any post-default increase in interest rates), or reduce the principal amount thereof (it being understood that any amendment or modification to the financial definitions in this Agreement or
to Section 11.07(a) shall not constitute a reduction in the rate of interest or Fees for the purposes of this clause (i)), (ii) release all or substantially all of the Collateral (except as expressly provided in the Credit Documents) under
all the Security Documents, (iii) release all or substantially all of the Guarantors under the Guarantees, (iv) amend, modify or waive any provision of this Section 11.12 (except for technical amendments with respect to additional
extensions of credit pursuant to this Agreement which afford the protections to such additional extensions of credit of the type provided to the Commitments and the Loans on the Effective Date), (v) reduce the percentage specified in the
definition of Required Lenders (it being understood that, with the consent of the Required Lenders, additional extensions of credit pursuant to this Agreement may be included in the determination of the Required Lenders on substantially the same
basis as the extensions of Commitments and the Loans are included on the Effective Date), (vi) amend the definition of “Interest Period” so as to permit interest periods in excess of six months without requiring the consent of all
Lenders or (vii) consent to the assignment or transfer by the Company of any of its rights and obligations under this Agreement; provided, further, that no such change, waiver, discharge or termination shall (1) increase the
Commitment of any Lender over the amount thereof then in effect without the consent of such Lender (it being understood that waivers or modifications of conditions precedent, covenants, Defaults or Events of Default or of a mandatory reduction in
the Total Commitment shall not constitute an increase of the Commitment of any Lender, and that an increase in the available portion of any Commitment of any Lender shall not constitute an increase of the Commitment of such Lender), (2) without
the consent of the Administrative Agent, amend, modify or waive any provision of Section 10 or any other provision as same relates to the rights or obligations of the Administrative Agent, or (3) without the consent of Collateral Agent,
amend, modify or waive any provision relating to the rights or obligations of the Collateral Agent. 
 (b)    If, in
connection with any proposed change, waiver, discharge or termination of or to any of the provisions of this Agreement as contemplated by clauses (i) through (vii), inclusive, of the first proviso to Section 11.12(a), the consent of the
Required Lenders is obtained but the consent of one or more of such other Lenders whose consent is required is not obtained, then the Company shall have the right, so long as all non-consenting Lenders whose individual consent is required are
treated as described in either clause (A) or (B) below, to either (A) replace each such non-consenting Lender or Lenders with one or more Replacement Lenders pursuant to Section 2.13 so long as at the time of such replacement,
each such Replacement Lender consents to the proposed change, waiver, discharge or termination or (B) terminate such non-consenting Lender’s Commitment and/or repay all outstanding Loans of such Lender; provided that, unless the
Commitments which are terminated and Loans which are repaid pursuant to preceding clause (B) are immediately replaced in full at such time through the addition of new Lenders or the increase of the Commitments and/or outstanding Loans of
existing Lenders (who in each case must specifically consent thereto), then in the case of any action pursuant to preceding clause (B), the Required Lenders (determined after giving effect to the proposed action) shall specifically consent thereto;
provided further, that the Company shall not have the right to replace a Lender, terminate its Commitment or repay its Loans solely as a result of the exercise of such Lender’s rights (and the withholding of any required consent
by such Lender) pursuant to the second proviso to Section 11.12(a). 
  

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 (c)    Notwithstanding anything to the contrary contained above in this
Section 11.12, the Administrative Agent and/or the Collateral Agent may (i) enter into amendments to the Subsidiary Guarantee and the Security Documents for the purpose of adding additional Subsidiaries of the Company (or other Credit
Parties) as parties thereto and (ii) enter into security documents to satisfy the requirements of Section 7.11, without the consent of the Required Lenders. 
 (d)    In addition, notwithstanding the foregoing, this Agreement may be amended with the written consent of the Administrative Agent, the Company and the Lenders providing the relevant Replacement
Term Loans (as defined below) to permit the refinancing of all outstanding Loans (“Refinanced Term Loans”) with a replacement term loan tranche denominated in Dollars (“Replacement Term Loans”) hereunder; provided that
(a) the aggregate principal amount of such Replacement Term Loans shall not exceed the aggregate principal amount of such Refinanced Term Loans, (b) the Applicable Margin for such Replacement Term Loans shall not be higher than the
Applicable Margin for such Refinanced Term Loans, (c) the Weighted Average Life to Maturity of such Replacement Term Loans shall not be shorter than the Weighted Average Life to Maturity of such Refinanced Term Loans, respectively, at the time
of such refinancing (except to the extent of nominal amortization for periods where amortization has been eliminated as a result of prepayment of the applicable Loans) and (d) all other terms applicable to such Replacement Term Loans shall be
substantially identical to, or less favorable to the Lenders providing such Replacement Term Loans than, those applicable to such Refinanced Term Loans except to the extent necessary to provide for covenants and other terms applicable to any period
after the latest final maturity of the Loans in effect immediately prior to such refinancing. 
 11.13    Confidentiality. 
 (a)    Subject to the provisions of clause (b) of
this Section 11.13, each Lender agrees that it will use its reasonable efforts not to disclose without the prior consent of the Company (other than to its employees, auditors, advisors or counsel or to another Lender if the Lender or such
Lender’s holding or parent company in its sole discretion determines that any such party should have access to such information, provided such Persons shall be subject to the provisions of this Section 11.13 to the same extent as such
Lender) any information with respect to the Company or any of its Subsidiaries which is now or in the future furnished pursuant to this Agreement or any other Credit Document and which is designated by the Company to the Lenders in writing as
confidential or would customarily be treated as confidential in banking practice; provided that any Lender may disclose any such information (a) as has become generally available to the public, (b) as may be required or appropriate
in any report, statement or testimony submitted to any municipal, state or Federal regulatory body having or claiming to have jurisdiction over such Lender or to the Federal Reserve Board or the Federal Deposit Insurance Corporation or similar
organizations (whether in the United States or elsewhere) or their successors, (c) as may be required or appropriate in respect to any summons or subpoena or in connection with any litigation, (d) in order to comply with any law, order,
regulation or ruling applicable to such Lender, (e) to the Administrative Agent or the Collateral Agent and (f) to any prospective or actual transferee or participant (or its investment advisor) in connection with any contemplated transfer
or participation of any of the Notes or Commitments or any interest therein by such Lender; provided that such prospective transferee agrees to maintain the confidentiality contained in this Section 11.13. 
 (b)    The Company hereby acknowledges and agrees that each Lender may share with any of its Lending Affiliates any information
related to the Company or any of its Subsidiaries (including, without limitation, any nonpublic customer information regarding the creditworthiness of the Company, the Company and its Subsidiaries, provided such Persons shall be subject to the
provisions of this Section 11.13 to the same extent as such Lender). 
  

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 11.14    Register. The Company hereby designates the Administrative Agent to
serve as its agent, solely for purposes of this Section 11.14, to maintain a register (the “Register”) on which it will record the Commitment from time to time of each of the Lenders, the Loans made by each of the Lenders and each
repayment in respect of the principal amount of the Loans of each Lender. Failure to make any such recordation, or any error in such recordation, shall not affect the Company’s obligations in respect of such Loans. With respect to any Lender,
the transfer of the Commitment of such Lender and the rights to the principal of, and interest on, any Loan made pursuant to such Commitment shall not be effective until such transfer is recorded on the Register maintained by the Administrative
Agent with respect to ownership of such Commitment and Loans and prior to such recordation all amounts owing to the transferor with respect to such Commitment and Loans shall remain owing to the transferor. The registration of the assignment or
transfer of all or part of any Commitment and Loans shall be recorded by the Administrative Agent on the Register only upon the acceptance by the Administrative Agent of a properly executed and delivered Assignment and Assumption Agreement pursuant
to Section 11.04(b). Coincident with the delivery of such an Assignment and Assumption Agreement to the Administrative Agent for acceptance and registration of the assignment or transfer of all or part of a Loan, or as soon thereafter as
practicable, the assigning or transferor Lender shall surrender the Note evidencing such Loan, and thereupon one or more new Notes in the same aggregate principal amount shall be issued to the assigning or transferor Lender and/or the new Lender.
The Company agrees to indemnify the Administrative Agent from and against any and all losses, claims, damages and liabilities of whatsoever nature which may be imposed on, asserted against or incurred by the Administrative Agent in performing its
duties under this Section 11.14 other than those resulting from the Administrative Agent’s willful misconduct or gross negligence. 
 11.15    USA Patriot Act. Each Lender subject to the USA PATRIOT ACT (Title 111 of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”) hereby notifies the Company that pursuant to
the requirements of the Patriot Act, they are required to obtain, verify and record information that identifies the Company and the other Credit Parties and other information that will allow such Lender to identify the Company and the other Credit
Parties in accordance with the Patriot Act. 
 11.16    Survival. All indemnities set forth herein including,
without limitation, in Sections 2.10, 2.11, 4.04, 10.06 and 11.01 shall survive the execution, delivery and termination of this Agreement and the Notes and the making and repayment of the Obligations. 
 *        *        * 
  

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 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver
this Agreement as of the date first above written. 
  

									
	Address:	 		 	OMNOVA SOLUTIONS INC.
				
	 175 Ghent Road
 Fairlawn, Ohio 44333
	 		 	By:	 	/s/ M. E. Hicks
	Attn: Chief Financial Officer	 		 		 	Name:	 	M. E. Hicks
	Phone: 330-869-4232	 		 		 	Title:	 	SVP-CFO

 Fax: 330-869-4544 
 with a copy to 
 175 Ghent Road 
 Fairlawn, Ohio
44333 
 Attn: General Counsel 
 Phone: 330-869-4250 

Fax: 330-869-4410 
 [Term Loan Credit Agreement Signature
Page] 

					
	 DEUTSCHE BANK TRUST COMPANY AMERICAS,
Individually and as Administrative Agent

		
	By:	 	/s/ Susan LeFevre
		 	Name:	 	Susan LeFevre
		 	Title:	 	Director
		
	By:	 	/s/ Evelyn Thierry
		 	Name:	 	Evelyn Thierry
		 	Title:	 	Vice President
	
	 DEUTSCHE BANK SECURITIES INC.,
as Joint Lead Arranger and Sole Bookrunning
Manager

		
	By:	 	/s/ Martha Klessen
		 	Name:	 	Martha Klessen
		 	Title:	 	Managing Director
		
	By:	 	/s/ Michael Busom
		 	Name:	 	Michael Busom
		 	Title:	 	VP

 [Term Loan Credit Agreement Signature Page] 

					
	 KEYBANK NATIONAL ASSOCIATION,
as Joint Lead Arranger and Documentation Agent

		
	By:	 	/s/ Carla Laning
		 	Name:	 	CARLA LANING
		 	Title:	 	VICE PRESIDENT

 [Term Loan Credit Agreement Signature Page] 

					
	 KEYBANK NATIONAL ASSOCIATION,
as a Lender

		
	By:	 	/s/ Carla Laning
		 	Name:	 	CARLA LANING
		 	Title:	 	VICE PRESIDENT

 [Term Loan Credit Agreement Signature Page]

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