Document:

EX-10.6

 EXHIBIT 10.6 

139 MAIN STREET 

CAMBRIDGE, MASSACHUSETTS 

LEASE SUMMARY SHEET 
  

			
	Execution Date:	  	January 2, 2019
		
	Tenant:	  	Stoke Therapeutics, Inc. a Delaware corporation
		
	 Tenant’s Mailing Address

Prior to Occupancy:
	  	 3 Preston Court

Suite 102

Bedford, MA 01730

		
	Landlord:	  	MIT 139 Main Street Leasehold LLC, a Massachusetts limited liability company
		
	Building:	  	139 Main Street, Cambridge, Massachusetts. The Building consists of approximately 37,575 rentable square feet. The land on which the Building is located (the “Land”) is more particularly described in Exhibit
1 attached hereto and made a part hereof. The Building and the Land are collectively hereinafter referred to as the “Property”).
		
	Premises:	  	 Approximately 2,485 rentable square feet of space on the 4th (fourth) floor of the Building, as more particularly shown as hatched,
highlighted or outlined on the plan attached hereto as Exhibit 2 and made a part hereof (the “Lease Plan”).
  

The Premises shall be measured according to the BOMA Standard Method for Measuring Floor Area in Office Buildings.

		
	Commencement Date:	  	The earlier of (a) the date on which the Premises are delivered to Tenant with Landlord’s Work Substantially Complete (as such terms are defined in the Work Letter attached hereto as Exhibit 5) (targeted to occur on
or about March 15, 2019, and (b) the date on which Tenant occupies the Premises for the Permitted Uses.
		
	Expiration Date:	  	The last day of the third (3rd) Rent Year.1
		
	Extension Term(s):	  	Subject to Section 1.2 below, one (1) extension term of two (2) years.

 

	1 	 For the purposes of this Lease, the first “Rent Year” shall be defined as the period
commencing as of the Commencement Date and ending on the last day of the month in which the first (1st) anniversary of the Commencement Date occurs; provided, however, if the Commencement
Date occurs on the first day of a calendar month, then the first Rent Year shall expire on the day immediately preceding the first (1st) anniversary of the Commencement Date. Thereafter,
“Rent Year” shall be defined as any subsequent twelve (12) month period during the term of this Lease. 

			
		
	Permitted Uses:	  	Subject to the Legal Requirements (hereinafter defined), general office use and accessory uses in proportions consistent with the design of the Building.

  

															
	Base Rent:	  	RENT
YEAR	  	 ANNUAL

BASE RENT
	 	  	MONTHLY
PAYMENT	 	  	$/RSF	 
		  	1	  	$	231,105.00	 	  	$	19,258.75	 	  	$	93.00	 
		  	2	  	$	236,882.63	 	  	$	19,740.22	 	  	$	95.33	 
		  	3	  	$	242,804.69	 	  	$	20,233.72	 	  	$	97.71	 

  

			
		
	Operating Costs and Taxes:	  	See Sections 5.2 and 5.3
		
	Tenant’s Share:	  	A fraction, the numerator of which is the number of rentable square feet in the Premises and the denominator of which is the number of rentable square feet in the Building. As of the Execution Date, Tenant’s Share is
6.61%.
		
	Tenant’s Tax Share:	  	A fraction, the numerator of which is the number of rentable square feet in the Premises and the denominator of which is the number of rentable square feet in the Building recognized by the City of Cambridge as being used for
purposes which are not exempt from real estate taxation as of the date on which the assessment is made for the tax year in question. As of the Execution Date, Tenant’s Tax Share is 6.61%.
		
	Security Deposit/ Letter of Credit:	  	$57,776.25

  

 TABLE OF CONTENTS 

 

							
	1.	 	LEASE GRANT; TERM; APPURTENANT RIGHTS; EXCLUSIONS	  	 	1	 
			
	 1.1
	 	 Lease Grant
	  	 	1	 
	 1.2
	 	 Extension Term
	  	 	1	 
	 1.3
	 	 [Intentionally Omitted]
	  	 	3	 
	 1.4
	 	 Appurtenant Rights
	  	 	3	 
	 1.5
	 	 Tenant’s Access
	  	 	3	 
	 1.6
	 	 Exclusions
	  	 	4	 
			
	2.	 	RIGHTS RESERVED TO LANDLORD	  	 	4	 
			
	 2.1
	 	 Additions and Alterations
	  	 	4	 
	 2.2
	 	 Additions to the Property
	  	 	4	 
	 2.3
	 	 Landlord’s Access
	  	 	4	 
	 2.4
	 	 Pipes, Ducts and Conduits
	  	 	5	 
	 2.5
	 	 Minimize Interference
	  	 	5	 
	 2.6
	 	 Construction in Vicinity
	  	 	5	 
			
	3.	 	CONDITION OF PREMISES; CONSTRUCTION	  	 	6	 
			
	4.	 	USE OF PREMISES	  	 	6	 
	 4.1
	 	 Permitted Uses
	  	 	6	 
	 4.2
	 	 Prohibited Uses
	  	 	6	 
			
	5.	 	RENT; ADDITIONAL RENT	  	 	7	 
			
	 5.1
	 	 Base Rent
	  	 	7	 
	 5.2
	 	 Operating Costs
	  	 	7	 
	 5.3
	 	 Taxes
	  	 	8	 
	 5.4
	 	 Late Payments
	  	 	9	 
	 5.5
	 	 No Offset; Independent Covenants; Waiver
	  	 	10	 
	 5.6
	 	 Survival
	  	 	10	 
			
	6.	 	SECURITY DEPOSIT/ LETTER OF CREDIT	  	 	10	 
			
	 6.1
	 	 Amount
	  	 	10	 
	 6.2
	 	 Application of Proceeds of Letter of Credit
	  	 	10	 
	 6.3
	 	 Transfer of Letter of Credit
	  	 	10	 
	 6.4
	 	 Security Deposit
	  	 	10	 
	 6.5
	 	 Return of Security Deposit or Letter of Credit
	  	 	11	 
			
	7.	 	UTILITIES, HVAC; WASTE REMOVAL	  	 	11	 
			
	 7.1
	 	 Electricity
	  	 	11	 
	 7.2
	 	 Water
	  	 	11	 
	 7.3
	 	 Heat, Ventilating and Air Conditioning
	  	 	11	 
	 7.4
	 	 Other Utilities; Utility Information
	  	 	11	 
	 7.5
	 	 Interruption or Curtailment of Utilities
	  	 	11	 
	 7.6
	 	 Telecommunications Providers
	  	 	12	 

  
 i 

							
	 7.7
	 	 Trash Removal
	  	 	12	 
	 7.8
	 	 Additional Landlord’s Services
	  	 	12	 
			
	8.	 	MAINTENANCE AND REPAIRS	  	 	12	 
			
	 8.1
	 	 Maintenance and Repairs by Tenant
	  	 	12	 
	 8.2
	 	 Maintenance and Repairs by Landlord
	  	 	13	 
	 8.3
	 	 Accidents to Sanitary and Other Systems
	  	 	13	 
	 8.4
	 	 Floor Load—Heavy Equipment
	  	 	13	 
			
	9.	 	ALTERATIONS AND IMPROVEMENTS BY TENANT	  	 	13	 
			
	 9.1
	 	 Landlord’s Consent Required
	  	 	13	 
	 9.2
	 	 Harmonious Relations
	  	 	14	 
	 9.3
	 	 Liens
	  	 	14	 
			
	10.	 	SIGNAGE	  	 	14	 
			
	 10.1
	 	 Rights and Restrictions
	  	 	14	 
	 10.2
	 	 Building Directory
	  	 	14	 
			
	11.	 	ASSIGNMENT, MORTGAGING AND SUBLETTING	  	 	14	 
			
	 11.1
	 	 Landlord’s Consent Required
	  	 	14	 
	 11.2
	 	 Landlord’s Recapture Right
	  	 	14	 
	 11.3
	 	 Standard of Consent to Transfer
	  	 	15	 
	 11.4
	 	 Profits In Connection with Transfers
	  	 	15	 
	 11.5
	 	 Prohibited Transfers
	  	 	15	 
	 11.6
	 	 Permitted Transfers
	  	 	15	 
	 11.7
	 	 Investment Policies
	  	 	16	 
			
	12.	 	INSURANCE; INDEMNIFICATION; EXCULPATION	  	 	16	 
			
	 12.1
	 	 Tenant’s Insurance
	  	 	16	 
	 12.2
	 	 Indemnification
	  	 	16	 
	 12.3
	 	 Property of Tenant
	  	 	17	 
	 12.4
	 	 Limitation of Landlord’s Liability for Damage or Injury
	  	 	17	 
	 12.5
	 	 Waiver of Subrogation; Mutual Release
	  	 	17	 
	 12.6
	 	 Tenant’s Acts—Effect on Insurance
	  	 	18	 
			
	13.	 	CASUALTY; TAKING	  	 	18	 
			
	 13.1
	 	 Damage
	  	 	18	 
	 13.2
	 	 Termination Rights
	  	 	19	 
	 13.3
	 	 Taking for Temporary Use
	  	 	20	 
	 13.4
	 	 Disposition of Awards
	  	 	20	 
			
	14.	 	ESTOPPEL CERTIFICATE	  	 	20	 
			
	 15.
	 	HAZARDOUS MATERIALS	  	 	20	 
	 15.1
	 	 Prohibition
	  	 	20	 
	 15.2
	 	 Environmental Laws
	  	 	20	 
	 15.3
	 	 Hazardous Material Defined
	  	 	21	 
	 15.4
	 	 Pre-Existing Hazardous Materials
	  	 	21	 

  
 ii 

							
			
	16.	 	RULES AND REGULATIONS	  	 	21	 
			
	 16.1
	 	 Rules and Regulations
	  	 	21	 
	 16.2
	 	 Energy Conservation
	  	 	21	 
	 16.3
	 	 Recycling
	  	 	21	 
			
	17.	 	LEGAL REQUIREMENTS	  	 	21	 
			
	 17.1
	 	 Legal Requirements
	  	 	21	 
			
	18.	 	DEFAULT	  	 	22	 
			
	 18.1
	 	 Events of Default
	  	 	22	 
	 18.2
	 	 Remedies
	  	 	23	 
	 18.3
	 	 Damages—Termination
	  	 	23	 
	 18.4
	 	 Landlord’s Self-Help; Fees and Expenses
	  	 	25	 
	 18.5
	 	 Waiver of Redemption, Statutory Notice and Grace Periods
	  	 	25	 
	 18.6
	 	 Landlord’s Remedies Not Exclusive
	  	 	25	 
	 18.7
	 	 No Waiver
	  	 	25	 
	 18.8
	 	 Restrictions on Tenant’s Rights
	  	 	25	 
	 18.9
	 	 Landlord Default
	  	 	25	 
			
	19.	 	SURRENDER; ABANDONED PROPERTY; HOLD-OVER	  	 	26	 
			
	 19.1
	 	 Surrender
	  	 	26	 
	 19.2
	 	 Abandoned Property
	  	 	26	 
	 19.3
	 	 Holdover
	  	 	26	 
			
	20.	 	MORTGAGEE RIGHTS	  	 	27	 
			
	 20.1
	 	 Subordination
	  	 	27	 
	 20.2
	 	 Mortgagee Notices
	  	 	27	 
	 20.3
	 	 Mortgagee Liability
	  	 	27	 
			
	21.	 	QUIET ENJOYMENT	  	 	27	 
			
	22.	 	NOTICES	  	 	28	 
			
	23.	 	MISCELLANEOUS	  	 	29	 
			
	 23.1
	 	 Separability
	  	 	29	 
	 23.2
	 	 Captions; Interpretation
	  	 	29	 
	 23.3
	 	 Broker
	  	 	29	 
	 23.4
	 	 Entire Agreement
	  	 	29	 
	 23.5
	 	 Governing Law; Personal Jurisdiction
	  	 	29	 
	 23.6
	 	 Tenant Representations
	  	 	29	 
	 23.7
	 	 Expenses Incurred by Landlord Upon Tenant Requests
	  	 	30	 
	 23.8
	 	 Survival
	  	 	30	 
	 23.9
	 	 Limitation of Liability
	  	 	30	 
	 23.10
	 	 Binding Effect
	  	 	30	 
	 23.11
	 	 Landlord Obligations upon Transfer
	  	 	30	 
	 23.12
	 	 Grants of Interest
	  	 	30	 
	 23.13
	 	 No Air Rights
	  	 	30	 
	 23.14
	 	 Relocation
	  	 	31	 

  
 iii 

					
	 23.15
	 	 Counterparts
	  	31
	 23.16
	 	 Financial Information
	  	31
	 23.17
	 	 Measurements
	  	31
	 23.18
	 	 OFAC
	  	31
	 23.19
	 	 Confidentiality
	  	31
	 23.20
	 	 Security
	  	32
	 23.21
	 	 Time
	  	32
	 23.22
	 	 WAIVER OF JURY TRIAL
	  	32
	 23.23
	 	 Bankruptcy
	  	32
	 23.24
	 	 Not Binding Until Executed
	  	32

  

			
	 EXHIBIT 1
	  	LEGAL DESCRIPTION
	 EXHIBIT 2
	  	LEASE PLAN
	 EXHIBIT 3
	  	MEMORIALIZATION OF DATES AGREEMENT
	 EXHIBIT 4
	  	[INTENTIONALLY OMITTED]
	 EXHIBIT 5
	  	WORK LETTER
	 EXHIBIT 5A
	  	LANDLORD/TENANT RESPONSIBILITIES MATRIX
	 EXHIBIT 5B
	  	LANDLORD’S WORK PLAN
	 EXHIBIT 6
	  	OPERATING COSTS
	 EXHIBIT 7
	  	TAXES
	 EXHIBIT 8
	  	FORM OF LETTER OF CREDIT
	 EXHIBIT 9
	  	LANDLORD’S SERVICES
	 EXHIBIT 10
	  	TENANT’S INSURANCE
	 EXHIBIT 11
	  	RULES AND REGULATIONS
	 EXHIBIT 12
	  	SIGNAGE DESIGN REQUIREMENTS
	 EXHIBIT 13
	  	SNDA FOR MASTER LEASE

  
 iv 

 THIS INDENTURE OF LEASE (this “Lease”) is hereby made and entered
into on the Execution Date by and between Landlord and Tenant. 
 This Lease and all of its terms, covenants, representations, warranties,
agreements and conditions are in all respects subject and subordinate to that certain Master Lease Agreement dated as of September 29, 2017 by and between MIT 139 Main Street Fee Owner LLC, as landlord, and Landlord, as tenant (as it may be
amended from time to time, the “Master Lease”), a redacted copy of which has been delivered to Tenant. Tenant acknowledges notice and full knowledge of all of the terms, covenants and conditions of the Master Lease. 

Each reference in this Lease to any of the terms and titles contained in any Exhibit attached to this Lease shall be deemed and construed to
incorporate the data stated under that term or title in such Exhibit. All capitalized terms not otherwise defined herein shall have the meanings ascribed to them as set forth in the Lease Summary Sheet which is attached hereto and incorporated
herein by reference. 
  

	1.	 LEASE GRANT; TERM; APPURTENANT RIGHTS; EXCLUSIONS 

1.1 Lease Grant. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises upon and subject to terms
and conditions of this Lease, for a term of years commencing on the Commencement Date and, unless earlier terminated or extended pursuant to the terms hereof, ending on the Expiration Date (the “Initial Term”; the Initial
Term and the Extension Term, if duly exercised, are hereinafter collectively referred to as the “Term”). Once the Commencement Date is determined, Landlord and Tenant shall execute an agreement confirming the Commencement
Date and the Expiration Date, in substantially the form attached hereto as Exhibit 3. Tenant’s failure to execute and return any such agreement proposed by Landlord, or to provide written objection to the statements contained therein,
within ten (10) business days after the date of Tenant’s receipt thereof, shall be deemed an approval by Tenant of Landlord’s determination of such dates as set forth therein. If Landlord for any reason does not Substantially Complete
Landlord’s Work and deliver the Premises to Tenant by July 15, 2019 (subject to Landlord’s Force Majeure (as hereinafter defined) and any delays caused by Tenant), then Tenant may, at any time thereafter but prior to the date on which
Landlord’s Work is Substantially Complete, cancel this Lease by giving written notice of such cancellation to Landlord. 
 1.2
Extension Term. 
 (a) Provided that the following conditions (the “Extension Conditions”), any or all of
which may be waived by Landlord in its sole discretion, are satisfied: (i) Tenant, an Affiliate (hereinafter defined) and/or a Successor (hereinafter defined) is/are then occupying one hundred percent (100%) of the Premises; and (ii) there
is no Event of Default (hereinafter defined) (1) as of the date of the Extension Notice (hereinafter defined), and (2) at the commencement of the applicable Extension Term (hereinafter defined), Tenant shall have the option to extend the
Initial Term for one (1) additional term of two (2) years (the “Extension Term”), commencing as of the expiration of the Initial Term. Tenant must exercise such option to extend, if at all, by giving Landlord
written notice (the “Extension Notice”) not earlier than twelve (12) months and no later than nine (9) months prior to the expiration of the then-current term of this Lease, time being of the essence.
Notwithstanding the foregoing, Landlord may nullify Tenant’s exercise of its option to extend the Term by written notice to Tenant (the “Nullification Notice”) if (A) on the date Landlord receives the applicable
Extension Notice, there is an event which, with the passage of time and/or the giving of notice, would constitute an Event of Default hereunder and (B) Tenant fails to cure such default within the applicable cure period set forth in
Section 18.1 after receipt of the Nullification Notice. Upon the satisfaction of the Extension Conditions and the timely giving of the Extension Notice without a subsequent nullification by Landlord, the Initial Term shall
be deemed extended upon all of the terms and conditions of this Lease, except that Base Rent during the 

  
 1 

 
Extension Term shall be calculated in accordance with this Section 1.2. If Tenant fails to give a timely Extension Notice, as aforesaid, Tenant shall have no further
right to extend the Initial Term. Notwithstanding the fact that Tenant’s proper and timely exercise of such option to extend the Initial Term shall be self-executing, the parties shall promptly execute a lease amendment reflecting such
Extension Term after Tenant validly exercises its option. The execution of such lease amendment shall not be deemed to waive any of the conditions to Tenant’s exercise of its rights under this Section 1.2. 

(b) The Base Rent during the first Rent Year of the Extension Term (the “Extension Term RY1 Base Rent”) shall be
determined in accordance with the process described hereafter. Extension Term RY1 Base Rent shall be the greater of (i) one hundred
two-and-one-half percent (102.5%) of Base Rent for the last Rent Year of the Initial Term, or (ii) the fair market rental
value of the Premises then demised to Tenant as of the commencement of the Extension Term, as determined in accordance with the process described below, for renewals of office space in the East Cambridge/ Kendall Square area of equivalent quality,
size, utility and location, with the length of the Extension Term, the credit standing of Tenant and all other relevant factors to be taken into account. Within thirty (30) days after receipt of the Extension Notice, Landlord shall deliver to
Tenant written notice of its determination of the Extension Term RY1 Base Rent for the Extension Term. Tenant shall, within fifteen (15) days after receipt of such notice, notify Landlord in writing whether Tenant accepts or rejects
Landlord’s determination of the Extension Term RY1 Base Rent (“Tenant’s Response Notice”). If Tenant fails timely to deliver Tenant’s Response Notice, Landlord’s determination of the Extension Term RY1
Base Rent shall be binding on Tenant. 
 (c) If and only if Tenant’s Response Notice is timely delivered to Landlord and indicates both
that Tenant rejects Landlord’s determination of the Extension Term RY1 Base Rent and desires to submit the matter to the determination process described in this Section 1.2(c) (the “Determination
Process”), then the Extension Term RY1 Base Rent shall be determined in accordance with the procedure set forth in this Section 1.2(c). In such event, within ten (10) days after receipt by Landlord of
Tenant’s Response Notice indicating Tenant’s desire to submit the determination of the Extension Term RY1 Base Rent to the Determination Process, Tenant and Landlord shall each notify the other, in writing, of their respective selections
of an appraiser (respectively, “Landlord’s Appraiser” and “Tenant’s Appraiser”). Landlord’s Appraiser and Tenant’s Appraiser shall then jointly select a third appraiser (the
“Third Appraiser”) within ten (10) days of their appointment. All of the appraisers selected shall be individuals with at least ten (10) consecutive years’ commercial appraisal experience in the area in which
the Premises are located, shall be members of the Appraisal Institute (M.A.I.), and, in the case of the Third Appraiser, shall not have acted in any capacity for either Landlord or Tenant within five (5) years of his or her selection. The three
appraisers shall determine the Extension Term RY1 Base Rent in accordance with the requirements and criteria set forth in Section 1.2(b) above, employing the method commonly known as Baseball Arbitration, whereby
Landlord’s Appraiser and Tenant’s Appraiser each sets forth its determination of the Extension Term RY1 Base Rent as defined above, and the Third Appraiser must select one or the other (it being understood that the Third Appraiser shall be
expressly prohibited from selecting a compromise figure). Landlord’s Appraiser and Tenant’s Appraiser shall deliver their determinations of the Extension Term RY1 Base Rent to the Third Appraiser within five (5) days of the
appointment of the Third Appraiser and the Third Appraiser shall render his or her decision within ten (10) days after receipt of both of the other two determinations of the Extension Term RY1 Base Rent. The Third Appraiser’s decision
shall be binding on both Landlord and Tenant. Each party shall bear the cost of its own appraiser and the cost of the Third Appraiser shall be paid by the party whose determination is not selected. 

(d) Commencing on the first day of the second Rent Year of the Extension Term, Base Rent shall increase annually by three percent (3%),
effective as of the first day of each Rent Year. 

  
 2 

 1.3 [Intentionally Omitted] 

1.4 Appurtenant Rights. 

(a) Common Areas. Subject to the terms of this Lease and the Rules and Regulations (hereinafter defined), Tenant shall have, as
appurtenant to the Premises, rights to use in common with others entitled thereto the areas designated from time to time for the common use of tenants of the Property (such areas are hereinafter referred to as the “Common
Areas”). The Common Areas include: (i) the common lobby(ies), loading docks, hallways, elevators and stairways of the Building, (ii) common walkways necessary for access to the Building, (iii) if the Premises include less
than the entire rentable area of any floor, the common restrooms and other common facilities of such floor; (iv) roof terrace located on the fifth (5th) floor of the Building; and
(v) other areas designated by Landlord from time to time for the common use of tenants of the Property, including any conference, fitness or kitchenette facilities; and no other appurtenant rights or easements. 

(b) Parking. During the Term, commencing on the Commencement Date, Landlord shall, subject to the terms hereof, provide to Tenant one
(1) parking pass (the “Parking Pass”) for the parking area serving the Building (the “Parking Area”) for the parking of passenger vehicles in unreserved stalls in the Parking Area by Tenant’s
employees and the employees of any transferee pursuant to a Transfer permitted by Article 11 of this Lease (“Permitted Pass Holders”). Tenant shall not sublet, assign, encumber, pledge or otherwise transfer the Parking
Pass except in connection with a Transfer permitted by Article 11 of this Lease. During the Term, commencing on the Commencement Date, Tenant shall pay Landlord (or at Landlord’s election, directly to the parking operator, if any) for
the Parking Pass at the then-current prevailing rate, as such rate may vary from time to time. As of the Execution Date, the monthly charge for parking is Three Hundred Fifty Dollars ($350) per Parking Pass per month. If, for any reason, Tenant
shall fail timely to pay the charge for said Parking Pass under this Section 1.4(b), upon the second (2nd) occurrence of such default continuing for five (5) days after written notice therefor, Landlord shall have the
right to revoke Tenant’s right to the Parking Pass, and Landlord may allocate such Parking Pass for use by others free and clear of Tenant’s rights under this Section 1.4(b). Use of the Parking Area and the
Parking Pass will be subject to such reasonable rules and regulations as may be in effect from time to time (including Landlord’s right, without additional charge to Tenant above the prevailing rate for the Parking Pass, to institute a valet or
attendant-managed parking system). Tenant shall provide Landlord and/or the operator of the Parking Area with such information as may be reasonably requested, for the Parking Pass. Except to the extent prohibited by Legal Requirements, neither
Landlord nor the operator of the Parking Areas assumes any responsibility whatsoever for loss or damage due to casualty or theft or otherwise to any automobile or to any personal property therein accessing or using the Parking Area, howsoever
caused, and Tenant agrees to notify each Permitted Pass Holder of such limitation of liability. No bailment is intended or shall be created by the provision of, or use of, the parking privileges described herein. Notwithstanding anything to the
contrary contained herein, Landlord shall have the right to relocate the parking privileges from time to time to parking areas at other properties owned, leased or controlled by Landlord or its affiliates so long as such relocated parking areas are
no more than 1,000 feet from the Building. Any such relocated parking area(s) shall be deemed the “Parking Area” for purposes of this Lease 

1.5 Tenant’s Access. 

(a) From and after the Commencement Date and until the end of the Term, Tenant shall have access to the Premises (and Permitted Pass Holders
shall have access to the Parking Area) twenty-four (24) hours a day, seven (7) days a week, subject to Legal Requirements, the Rules and Regulations, the terms of this Lease, Landlord’s Force Majeure (hereinafter defined) and matters
of record. As used in this Lease, the term “Landlord’s Force Majeure” shall mean delays due to riots, acts of God, war, acts of terrorism, governmental regulation, unusual scarcity of or inability to obtain
labor or materials, labor difficulties, casualty or any other causes reasonably beyond Landlord’s control. 

  
 3 

 (b) Subject to Article 9 below, Tenant shall have the right to access the Premises,
at Tenant’s sole risk, at times reasonably approved by Landlord prior to the Commencement Date for purposes reasonably related to the installation of Tenant’s wiring and cabling and the installation of Tenant’s furniture, personal
property and equipment, provided such access does not interfere with the preparation for or performance of Landlord’s Work (as defined in Exhibit 5). Tenant shall, prior to the first entry to the Premises pursuant to this
Section 1.5(b), provide Landlord with certificates of insurance evidencing that the insurance required in Article 12 hereof is in full force and effect and covering any person or entity entering the Building. Tenant
shall defend, indemnify and hold the Landlord Parties (hereinafter defined) harmless from and against any and all Claims (hereinafter defined) for injury to persons or property resulting from or relating to Tenant’s access to and use of the
Premises prior to the Commencement Date as provided under this Section 1.5(b). Tenant shall coordinate any access to the Premises prior to the Commencement Date with Landlord’s property manager. 

1.6 Exclusions. The following are expressly excluded from the Premises and reserved to Landlord: all the perimeter walls of the
Premises (except the inner surfaces thereof), the Common Areas, and any space in or adjacent to the Premises used for shafts, stacks, pipes, conduits, wires and appurtenant fixtures, fan rooms, ducts, electric or other utilities, sinks or other
Building facilities, and the use of all of the foregoing, except as expressly permitted pursuant to Section 1.4(a) above. 
  

	2.	 RIGHTS RESERVED TO LANDLORD 

2.1 Additions and Alterations. Landlord reserves the right, at any time and from time to time, to make such changes, alterations,
additions, improvements, repairs, replacements or testing in or to the Property (including the Premises but, with respect to the Premises, only for purposes of repairs, maintenance, replacements and the exercise of any other rights reserved to
Landlord herein) and the fixtures and equipment therein, as well as in or to the street entrances and/or the Common Areas and/or the Parking Areas, as it may deem necessary or desirable. Landlord expressly reserves the right to temporarily close
all, or any portion, of the Common Areas or the Parking Areas for the purpose of testing or making repairs or changes thereto. Notwithstanding the immediately foregoing sentence, Landlord further expressly reserves the right, at any time and from
time to time, to alter, modify or close (temporarily or permanently) those Common Areas that consist of any conference, fitness or kitchenette facilities, including converting any such Common Areas to rentable premises. Landlord shall use reasonable
efforts to minimize interference with Tenant’s use or occupancy of the Premises in connection with any such temporary closure of the Common Areas or Parking Areas by Landlord. 

2.2 Additions to the Property. 

(a) Landlord may, at any time and from time to time, (i) construct additional improvements and related site improvements (collectively,
“Future Development”) in all or any part of the Property, (ii) change the location or arrangement of (A) any improvement outside the Building in or on the Property and/or (B) all or any part of the Common
Areas, and/or (iii) add or deduct any land to or from the Property; provided that there shall be no material increase in Tenant’s obligations under this Lease in connection with the exercise of the foregoing reserved rights. 

2.3 Landlord’s Access. Subject to the terms hereof, Tenant shall (a) upon reasonable advance
notice, which may be oral (except that no notice shall be required in emergency situations), permit Landlord and any holder of a Mortgage (hereinafter defined) (each such holder, a “Mortgagee”), and their respective agents,
representatives, employees and contractors, to have access to the Premises at 

  
 4 

 
all reasonable hours for the purposes of inspection, making repairs, replacements or improvements in or to the Premises or the Building or equipment therein (including sanitary, electrical,
heating, air conditioning or other systems), complying with all applicable laws, ordinances, rules, regulations, statutes, by-laws, court decisions and orders and requirements of all public authorities
(collectively, “Legal Requirements”), or exercising any right reserved to Landlord under this Lease (including the right to take upon or through, or to keep and store within the Premises all necessary materials, tools and
equipment); (b) permit Landlord and its agents and employees, at reasonable times, upon reasonable advance notice, to show the Premises during normal business hours (i.e., Monday—Friday 8:00 AM – 6:00 PM, Saturday 9:00 AM – 1:00 PM,
excluding holidays) to any prospective Mortgagee or purchaser of the Building and/or the Property or of the interest of Landlord therein, and, during the last twelve (12) months of the Term, or at any time after the occurrence of an Event of
Default, prospective tenants; (c) upon reasonable prior written notice from Landlord, permit Landlord and its agents, at Landlord’s sole cost and expense, to perform environmental audits, environmental site investigations and environmental
site assessments (“Site Assessments”) in, on, under and at the Premises and the Land, it being understood that Landlord shall repair any damage arising as a result of the Site Assessments, and such Site Assessments may
include both above and below the ground testing and such other tests as may be necessary or appropriate to conduct the Site Assessments; and (d) in case any excavation shall be made for building or improvements or for any other purpose upon the
land adjacent to or near the Premises, afford without charge to Landlord, or the persons or entities causing or making such excavation, license to enter upon the Premises for the purpose of doing such work as Landlord or such persons or entities
shall deem necessary to preserve the Building from injury, and to protect the Building by proper securing of foundations. In addition, to the extent that it is necessary to enter the Premises in order to access any area that serves any portion of
the Building outside the Premises, then Tenant shall, upon as much advance notice as is practical under the circumstances, and in any event at least twenty-four (24) hours’ prior written notice (except that no notice shall be required in
emergency situations), permit contractors engaged by other occupants of the Building to pass through the Premises in order to access such areas but only if accompanied by a representative of Landlord. The parties agree and acknowledge that, despite
reasonable and customary precautions (which Landlord agrees it shall exercise), any property or equipment in the Premises may nevertheless be damaged in the course of performing Landlord’s obligations. Accordingly, Tenant shall take reasonable
protective precautions with its property and equipment. 
 2.4 Pipes, Ducts and Conduits. Tenant shall permit
Landlord to erect, use, maintain and relocate pipes, ducts and conduits in and through the Premises, provided the same do not materially reduce the floor area or materially adversely affect the appearance thereof. 

2.5 Minimize Interference. Except in the event of an emergency, Landlord shall use commercially reasonable efforts, consistent
with accepted construction practice when applicable, to minimize any materially adverse interference with Tenant’s use and occupancy of, the Premises as a result of the exercise of Landlord’s rights under Sections 2.1-2.4
above. Tenant agrees to cooperate with Landlord as reasonably necessary in connection with the exercise of Landlord’s rights under this Article 2. Subject to Landlord’s obligations under this Section 2.5,
Tenant further agrees that dust, noise, vibration, closures of Common Areas, or other inconvenience or annoyance resulting from the exercise of Landlord’s rights under this Article 2 shall not be deemed to be a breach of Landlord’s
obligations under the Lease. 
 2.6 Construction in Vicinity. Tenant acknowledges that (a) Landlord and/or its affiliates
(“Neighboring Owners”) own several properties in the vicinity of the Building, (b) during the Term, the Neighboring Owners may undertake various construction projects, which may include the construction of new and/or
additional buildings (each, a “Project,” and collectively, the “Projects”), and (c) customary construction impacts (taking into account the urban nature of the Property, the proximity of the
Building 

  
 5 

 
to the Project site and other relevant factors) may result therefrom. In no event shall Landlord be liable to Tenant for any compensation or reduction of rent or any other damages arising from
the Projects and Tenant shall not have the right to terminate the Lease due to the construction of the Projects, nor shall the same give rise to a claim in Tenant’s favor that such construction constitutes actual or constructive, total or
partial, eviction from the Premises. Notwithstanding any provision in this Lease to the contrary, in no event shall Tenant seek injunctive or any similar relief to stop, delay or modify any Project. Tenant acknowledges and agrees that Landlord has
informed Tenant that a Neighboring Owner is currently undertaking a Project at One Broadway, Cambridge, Massachusetts, which is adjacent to the Property, and Tenant has elected to proceed with entering into this Lease with full knowledge of the
existence of such Project. 
 3. CONDITION OF PREMISES; CONSTRUCTION. On the Commencement Date, Landlord shall deliver the Premises to Tenant
with the Variable Air Volume HVAC system and fire alarm and fire protection systems serving the Premises in good working order and with Landlord’s Work Substantially Complete. Subject to the immediately foregoing sentence, Tenant acknowledges
and agrees that Tenant is leasing the Premises in their “AS IS,” “WHERE IS” condition and with all faults on the Commencement Date, without representations or warranties, express or implied, in fact or
by law, of any kind, and without recourse to Landlord. 
  

	4.	 USE OF PREMISES 

4.1 Permitted Uses. During the Term, Tenant shall use the Premises only for the Permitted Uses and for no other purposes. Service
and utility areas (whether or not a part of the Premises) shall be used only for the particular purpose for which they are designed. 

4.2 Prohibited Uses. 

(a) Notwithstanding any other provision of this Lease, Tenant shall not use the Premises or the Building, or any part thereof, or suffer or
permit the use or occupancy of the Premises or the Building or any part thereof by any of the Tenant Parties (hereinafter defined) (i) in a manner which would violate any of the covenants, agreements, terms, provisions and conditions of this
Lease or otherwise applicable to or binding upon the Premises; (ii) in a manner which, in the reasonable judgment of Landlord (taking into account the Building for office use and the Permitted Uses) shall (a) impair the appearance or
reputation of the Building; (b) impair, interfere with or otherwise diminish the quality of any of the Building services or the proper and economic heating, cleaning, ventilating, air conditioning or other servicing of the Building or Premises,
or the use of any of the Common Areas; (c) occasion discomfort, inconvenience or annoyance in any material respect, or cause any injury or damage to any occupants of the Premises or other tenants or occupants of the Building or their property;
or (d) cause harmful air emissions or any unusual or other objectionable odors, noises or emissions to emanate from the Premises; (iii) in a manner which shall increase such insurance rates on the Building or on property located therein
over that applicable when Tenant first took occupancy of the Premises hereunder; or (vii) in violation of any exclusive use granted to any other tenant in the Building. 

(b) With respect to the use and occupancy of the Premises and the Common Areas, Tenant will not: (i) place or maintain any signage (except
as may be permitted by Article 10 below), Trash (hereinafter defined) or other articles in any vestibule or entry of the Premises, on the footwalks or corridors adjacent thereto or elsewhere on the exterior of the Premises, nor obstruct any
driveway, corridor, footwalk, parking area, mall or any other Common Areas; (ii) permit undue accumulations of or burn garbage, trash, rubbish or other refuse (collectively, “Trash”) within or outside of the Premises;
(iii) permit the parking of vehicles so as to interfere with the use of any driveway, corridor, footwalk, parking area, or other Common Areas; (iv) receive or ship articles of any kind outside of those areas reasonably

  
 6 

 
designated by Landlord; (v) conduct or permit to be conducted any auction, going out of business sale, bankruptcy sale (unless directed by court order), or other similar type sale in or
connected with the Premises; (vi) use the name of Landlord, or any of Landlord’s affiliates or subsidiaries in any publicity, promotion, press release, advertising, printed, electronic or display materials without Landlord’s prior
written consent (which may be withheld in Landlord’s sole discretion); (vii) permit any animals other than service animals in the Building; or (viii) except in connection with Alterations (hereinafter defined) approved by Landlord, cause
or permit any hole to be drilled or made in any part of the Building. 
  

	5.	 RENT; ADDITIONAL RENT 

5.1 Base Rent. During the Term, Tenant shall pay to Landlord Base Rent in equal monthly installments, in advance and without
demand on the first day of each month for and with respect to such month. Unless otherwise expressly provided herein, the payment of Base Rent and additional rent and other charges reserved and covenanted to be paid under this Lease with respect to
the Premises (collectively, “Rent”) shall commence on the Commencement Date and shall be prorated for any partial months. Base Rent for the first (1st) month of the Term
shall be due simultaneously with Tenant’s execution and delivery of this Lease to Landlord. Rent shall be payable to Landlord or, if Landlord shall so direct in writing, to Landlord’s agent or nominee, in lawful money of the United States.

 5.2 Operating Costs. 

(a) Payment of Operating Costs. Tenant shall pay to Landlord, as additional rent, Tenant’s Share of Operating Costs (as
defined in Exhibit 6 attached hereto). Landlord may make a good faith estimate of the Operating Costs for any fiscal year (wholly or partially) occurring during the Term, and Tenant shall pay to Landlord, on the first (1st) day of each
calendar month, an amount equal to Tenant’s Share of the Operating Costs for such fiscal year and/or part thereof divided by the number of months therein. Landlord may estimate and re-estimate
Tenant’s Share of the Operating Costs and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Tenant’s Share of the Operating Costs shall be appropriately
adjusted in accordance with the estimations so that, by the end of the fiscal year in question, Tenant shall have paid all of Tenant’s Share of the Operating Costs as estimated by Landlord. Any amounts paid based on such an estimate shall be
subject to adjustment as herein provided when the actual Operating Costs are available for each fiscal year. 
 (b) Annual
Reconciliation. Landlord shall, within one hundred twenty (120) days after the end of each fiscal year, deliver to Tenant a reasonably detailed statement of the actual amount of Operating Costs for such fiscal year (“Year End
Statement”). Failure of Landlord to provide the Year End Statement within the time prescribed shall not relieve Tenant from its obligations hereunder. If the total of such monthly remittances on account of any fiscal year is greater
than Tenant’s Share of the Operating Costs actually incurred for such fiscal year, then, provided there is no Event of Default nor any event which, with the passage of time and/or the giving of notice would constitute an Event of Default,
Tenant may credit the difference against the next installment of additional rent on account of Operating Costs due hereunder, except that if such difference is determined after the end of the Term, Landlord shall refund such difference to Tenant
within thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to Landlord (it being understood and agreed that if Tenant cures any default prior to the expiration of the notice
and/or cure periods set forth in Section 18.1 below, Tenant shall then be entitled to take such credit). If the total of such remittances is less than Tenant’s Share of the Operating Costs actually incurred for such
fiscal year, Tenant shall pay the difference to Landlord, as additional rent hereunder, within ten (10) days of Tenant’s receipt of an invoice therefor. Landlord’s estimate of the Operating Costs for the next fiscal year shall be
based upon the Operating Costs actually incurred for the prior fiscal year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases in Operating Costs. 

  
 7 

 (c) Part Years. If the Commencement Date or the Expiration Date occurs in the
middle of a fiscal year, Tenant shall be liable for only that portion of the Operating Costs with respect to such fiscal year within the Term. 

(d) Gross-Up. If, during any fiscal year, less than 95% of the Building is occupied by
tenants or if Landlord was not supplying at least 95% of tenants with the services being supplied to Tenant hereunder, actual Operating Costs incurred shall be reasonably extrapolated by Landlord on an item-by-item basis to the reasonable Operating Costs that would have been incurred if the Building was 95% occupied and such services were being supplied to 95% of tenants, and such extrapolated Operating
Costs shall, for all purposes hereof, be deemed to be the Operating Costs for such fiscal year. 
 5.3 Taxes. 

(a) Payment of Taxes. Tenant shall pay to Landlord, as additional rent, Tenant’s Tax Share of Taxes (as defined in
Exhibit 7 attached hereto). Landlord may make a good faith estimate of the Taxes to be due by Tenant for any Tax Period (as defined in Exhibit 7 attached hereto) or part thereof during the Term, and Tenant shall pay to Landlord, on the
Commencement Date and on the first (1st) day of each calendar month thereafter, an amount equal to Tenant’s Tax Share of Taxes for such Tax Period or part thereof divided by the number of months therein. Landlord may estimate and re-estimate Tenant’s Tax Share of Taxes and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Tenant’s Tax Share of
the Taxes shall be appropriately adjusted in accordance with the estimations so that, by the end of the Tax Period in question, Tenant shall have paid all of Tenant’s Tax Share of the Taxes as estimated by Landlord. Any amounts paid based on
such an estimate shall be subject to adjustment as herein provided when actual Taxes are available for each Tax Period. If the total of such monthly remittances is greater than Tenant’s Tax Share of Taxes actually due for such Tax Period, then,
provided no Event of Default has occurred nor any event which, with the passage of time and/or the giving of notice would constitute an Event of Default, Tenant may credit the difference against the next installment of additional rent on account of
Taxes due hereunder, except that if such difference is determined after the end of the Term, Landlord shall refund such difference to Tenant within thirty (30) days after such determination to the extent that such difference exceeds any amounts
then due from Tenant to Landlord (it being understood and agreed that if Tenant cures any default prior to the expiration of the notice and/or cure periods set forth in Section 18.1 below, Tenant shall then be entitled to
take such credit). If the total of such remittances is less than Tenant’s Tax Share of Taxes actually due for such Tax Period, Tenant shall pay the difference to Landlord, as additional rent hereunder, within thirty (30) days of
Tenant’s receipt of an invoice therefor. Landlord’s estimate for the next Tax Period shall be based upon the actual Taxes to the Property for the prior Tax Period plus a reasonable adjustment based upon estimated increases in Taxes. In the
event that Payments in Lieu of Taxes (“PILOT”), instead of or in addition to Taxes, are separately assessed to certain portions of the Property including the Premises, Tenant agrees, except as otherwise expressly provided
herein to the contrary, to pay to Landlord, as additional rent, Tenant’s Tax Share of the portion of such PILOT attributable to the Premises in the same manner as provided above for the payment of Taxes. 

(b) Effect of Abatements. Appropriate credit against Taxes or PILOT shall be given for any refund obtained by reason of a
reduction in any Taxes by the assessors or the administrative, judicial or other governmental agency responsible therefor after deduction of Landlord’s expenditures for reasonable legal fees and for other reasonable expenses incurred in
obtaining the Tax or PILOT refund. 
 (c) Part Years. If the Commencement Date or the Expiration Date occurs in the middle of a
Tax Period, Tenant shall be liable for only that portion of the Taxes, as the case may be, with respect to such Tax Period within the Term. 

  
 8 

 5.4 Late Payments. 

(a) Any payment of Rent due hereunder not paid when due shall bear interest for each month or fraction thereof from the due date until paid in
full at the annual rate of twelve percent (12%), or at any applicable lesser maximum legally permissible rate for debts of this nature (the “Default Rate”). Additionally, for any payment of Rent due hereunder not paid when
due, Tenant shall pay to Landlord an administrative fee of $250. Acceptance of interest or any partial payment shall not constitute a waiver of Tenant’s default with respect to the overdue amount or prevent Landlord from exercising any of the
other rights and remedies available to Landlord under this Lease or at law or in equity now or hereafter in effect. 
 (b) For each Tenant
payment check to Landlord that is returned by a bank for any reason, Tenant shall pay a returned check charge equal to the amount as shall be customarily charged by Landlord’s bank at the time. 

(c) Money paid by Tenant to Landlord shall be applied to Tenant’s account in the following order: first, to any unpaid additional rent,
including late charges, returned check charges, legal fees and/or court costs chargeable to Tenant hereunder; and then to unpaid Base Rent. 

5.5 No Offset; Independent Covenants; Waiver. Rent shall be paid without notice or demand, and without setoff, counterclaim,
defense, abatement, suspension, deferment, reduction or deduction, except as expressly provided herein. TENANT WAIVES ALL RIGHTS (I) TO ANY ABATEMENT, SUSPENSION, DEFERMENT, REDUCTION OR DEDUCTION OF OR FROM RENT, AND (II) TO QUIT,
TERMINATE OR SURRENDER THIS LEASE OR THE PREMISES OR ANY PART THEREOF, EXCEPT AS EXPRESSLY PROVIDED HEREIN. TENANT HEREBY ACKNOWLEDGES AND AGREES THAT THE OBLIGATIONS OF TENANT UNDER THIS LEASE SHALL BE SEPARATE AND INDEPENDENT COVENANTS AND
AGREEMENTS, THAT RENT SHALL CONTINUE TO BE PAYABLE IN ALL EVENTS AND THAT THE OBLIGATIONS OF TENANT HEREUNDER SHALL CONTINUE UNAFFECTED, UNLESS THE REQUIREMENT TO PAY OR PERFORM THE SAME SHALL HAVE BEEN TERMINATED PURSUANT TO AN EXPRESS PROVISION OF
THIS LEASE. LANDLORD AND TENANT EACH ACKNOWLEDGES AND AGREES THAT THE INDEPENDENT NATURE OF THE OBLIGATIONS OF TENANT HEREUNDER REPRESENTS FAIR, REASONABLE, AND ACCEPTED COMMERCIAL PRACTICE WITH RESPECT TO THE TYPE OF PROPERTY SUBJECT TO THIS LEASE,
AND THAT THIS AGREEMENT IS THE PRODUCT OF FREE AND INFORMED NEGOTIATION DURING WHICH BOTH LANDLORD AND TENANT WERE REPRESENTED BY COUNSEL SKILLED IN NEGOTIATING AND DRAFTING COMMERCIAL LEASES IN MASSACHUSETTS, AND THAT THE ACKNOWLEDGEMENTS AND
AGREEMENTS CONTAINED HEREIN ARE MADE WITH FULL KNOWLEDGE OF THE HOLDING IN WESSON V. LEONE ENTERPRISES, INC., 437 MASS. 708 (2002). SUCH ACKNOWLEDGEMENTS, AGREEMENTS AND WAIVERS BY TENANT ARE A MATERIAL INDUCEMENT TO LANDLORD ENTERING INTO
THIS LEASE. 
 5.6 Survival. Any obligations under this Article 5 which shall not have been paid at the expiration or
earlier termination of the Term shall survive such expiration or earlier termination and shall be paid when and as the amount of same shall be determined and be due. 

  
 9 

	6.	 SECURITY DEPOSIT/ LETTER OF CREDIT 

6.1 Amount. Contemporaneously with the execution of this Lease, Tenant shall deliver to Landlord an irrevocable letter of credit
which shall (a) be in the amount specified in the Lease Summary Sheet and otherwise in the form attached hereto as Exhibit 8; (b) issued by a FDIC insured financial institution reasonably acceptable to Landlord upon which presentment may
be made in Boston, Massachusetts; and (c) be for a term of one (1) year, subject to extension in accordance with the terms hereof (the “Letter of Credit”). The Letter of Credit shall be held by Landlord, without
liability for interest, as security for the faithful performance by Tenant of all of the terms, covenants and conditions of this Lease by the Tenant to be kept and performed during the Term. In no event shall the Letter of Credit be deemed to be a
prepayment of Rent nor shall it be considered a measure of liquidated damages. Unless the Letter of Credit is automatically renewing, at least thirty (30) days prior to the maturity date of the Letter of Credit (or any replacement Letter of
Credit), Tenant shall deliver to Landlord a replacement Letter of Credit which shall have a maturity date no earlier than the next anniversary of the Commencement Date or one (1) year from its date of delivery to Landlord, whichever is later.
In the event that the Extension Term RY1 Base Rent during any Extension Term is greater than Base Rent during the previous term, the face amount of the Letter of Credit may be proportionately increased at Landlord’s discretion. 

6.2 Application of Proceeds of Letter of Credit. Upon any default of Tenant under this Lease, or if any proceeding shall be
instituted by or against Tenant pursuant to any of the provisions of any Act of Congress or State law relating to bankruptcy, reorganizations, arrangements, compositions or other relief from creditors (and, in the case of any proceeding instituted
against it, if Tenant shall fail to have such proceedings dismissed within thirty (30) days) or if Tenant is adjudged bankrupt or insolvent as a result of any such proceeding, or upon the end of the Term if there remains any uncured default of
which Tenant shall have received notice, Landlord, in its sole discretion, may draw down all or a part of the Letter of Credit. The balance of any Letter of Credit cash proceeds shall be held in accordance with Section 6.4
below. Should the entire Letter of Credit, or any portion thereof, be drawn down by Landlord, Tenant shall, upon the written demand of Landlord, deliver a replacement Letter of Credit in the amount drawn, and Tenant’s failure to do so within
ten (10) days after receipt of such written demand shall constitute an additional Event of Default hereunder without further notice or an opportunity to cure. The application of all or any part of the cash proceeds of the Letter of Credit to
any obligation or default of Tenant under this Lease shall not deprive Landlord of any other rights or remedies Landlord may have nor shall such application by Landlord constitute a waiver by Landlord. 

6.3 Transfer of Letter of Credit. In the event that Landlord transfers its interest in the Premises, Tenant shall upon notice
from and at no cost to Landlord, deliver to Landlord an amendment to the Letter of Credit or a replacement Letter of Credit naming Landlord’s successor as the beneficiary thereof. If Tenant fails to deliver such amendment or replacement within
ten (10) days after written notice from Landlord, Landlord shall have the right to draw down the entire amount of the Letter of Credit and hold the proceeds thereof in accordance with Section 6.4 below. 

6.4 Security Deposit. Landlord shall hold the balance of proceeds remaining after a draw on the Letter of Credit (each
hereinafter referred to as the “Security Deposit”) as security for Tenant’s performance of all its Lease obligations. After a default of Tenant under this Lease, or upon the end of the Term if there remains any uncured
default of which Tenant shall have received notice, Landlord may apply the Security Deposit, or any part thereof, to Landlord’s damages without prejudice to any other Landlord remedy. Should Landlord apply all or any portion of the Security
Deposit, Tenant shall, upon the written demand of Landlord, deliver cash in the amount applied, and Tenant’s failure to do so within ten (10) days after receipt of such written demand shall constitute an additional Event of Default
hereunder without further notice or opportunity to cure. Additionally, if Landlord applies all or any portion of the Security Deposit as aforesaid, Tenant shall have the right to deliver a replacement Letter of Credit in the form and amount required
hereunder, and upon receipt of such replacement Letter of Credit, Landlord shall return the unapplied Security Deposit to Tenant. Landlord has no obligation to pay interest on the Security Deposit and may
co-mingle the Security Deposit with Landlord’s funds. If Landlord conveys its interest under this Lease, the Security Deposit, or any part not applied previously, may be turned over to the grantee in
which case Tenant shall look solely to the grantee for the proper application and return of the Security Deposit. 

  
 10 

 6.5 Return of Security Deposit or Letter of Credit. Should Tenant comply with
all of such terms, covenants and conditions and promptly pay all sums payable by Tenant to Landlord hereunder, the Security Deposit and/or Letter of Credit or the remaining proceeds therefrom, as applicable, shall be returned to Tenant within ninety
(90) days after the end of the Term, less any portion thereof which may have been utilized by Landlord to cure any default or applied to any actual damage suffered by Landlord. 

 

	7.	 UTILITIES, HVAC; WASTE REMOVAL 

7.1 Electricity. Commencing on the Commencement Date, Tenant shall pay all charges for electricity furnished to the Premises
and/or any equipment exclusively serving the Premises as additional rent, based on reasonable estimates by Landlord. 
 7.2
Water. Landlord shall provide hot and cold water to the kitchenette area in the Premises, if any. Notwithstanding anything set forth herein to the contrary, the costs of water and sewer for the Building are included in Operating Costs;
provided, however, if Tenant uses quantities of water in excess of normal use for the Permitted Uses, Landlord may charge Tenant, as additional rent hereunder, for its share of water and sewer charges for the Building, as reasonably estimated
by Landlord, and Tenant shall pay such charges within thirty (30) days of receipt of any invoice. If Landlord charges Tenant for its excessive use of water and sewer, Landlord shall provide Tenant with reasonable
back-up documentation regarding the total charges and the method of allocating the charges to Tenant. 

7.3 Heat, Ventilating and Air Conditioning. Landlord shall provide to the Premises during normal business hours (as set forth in
Section 2.3 above) heating and cooling in accordance with the Landlord/Tenant Responsibilities Matrix attached hereto as Exhibit 5A. Whenever the air conditioning systems are in operation, Tenant agrees to lower and
close the blinds or drapes when necessary because of the sun’s position, and to cooperate fully with Landlord with regard to, and to abide by all the reasonable regulations and requirements which Landlord may prescribe for the proper
functioning and protection of the air conditioning systems. Landlord shall use reasonable efforts, upon no less than one (1) business day’s advance written notice from Tenant, to furnish, at Tenant’s sole cost and expense, additional
heat or air conditioning services to the Premises on days and at times other than as above provided at Landlord’s standard rates from time to time. Tenant, at its sole cost and expense, shall be responsible for the installation of, and charges
for, any supplemental cooling equipment Tenant may require for any computer server room or any other similar areas in excess of the cooling to be provided by Landlord pursuant to the Landlord/Tenant Responsibilities Matrix attached hereto as
Exhibit 5A. The installation of any such supplemental cooling equipment shall be performed by Tenant in accordance with Article 9 of this Lease. 

7.4 Other Utilities; Utility Information. Subject to Landlord’s reasonable rules and regulations governing the same, Tenant
shall obtain and pay, as and when due, for all other utilities and services consumed in and/or furnished to the Premises, together with all taxes, penalties, surcharges and maintenance charges pertaining thereto. Within ten (10) business days
after Landlord’s request from time to time, Tenant shall provide Landlord with reasonably detailed information regarding Tenant’s utility usage in the Premises. 

7.5 Interruption or Curtailment of Utilities. When necessary by reason of accident or emergency, or for repairs, alterations,
replacements or improvements which in the reasonable judgment of Landlord are desirable or necessary to be made, Landlord reserves the right, upon no less than twenty-four (24) hours’ notice except in the event of an emergency, to
interrupt, curtail, or stop (i) the furnishing 

  
 11 

 
of hot and/or cold water, (ii) the operation of the plumbing and electric systems, and/or (iii) HVAC services. Landlord shall exercise reasonable diligence to eliminate the cause of any
such interruption, curtailment, stoppage or suspension, but there shall be no diminution or abatement of Rent or other compensation due from Landlord to Tenant hereunder, nor shall this Lease be affected or any of Tenant’s obligations hereunder
reduced, and Landlord shall have no responsibility or liability for any such interruption, curtailment, stoppage, or suspension of services or systems. 

7.6 Telecommunications Providers. Notwithstanding anything to the contrary herein or in this Lease contained, Landlord has no
obligation to allow any particular telecommunications service provider to have access to the Building or to Premises; provided, however, that Landlord agrees that as of the Commencement Date Landlord will have permitted access to the Building
to at least one (1) telecommunications service provider. Landlord may permit access to the Building to additional telecommunications service providers, in Landlord’s sole discretion. Tenant is solely responsible for contracting for
telecommunications services to the Premises with the telecommunications service provider(s) that serve the Building as aforesaid, and Landlord shall have no liability to Tenant whatsoever for any disruption to, or interference with,
telecommunications services to the Premises. 
 7.7 Trash Removal. Throughout the Term, Tenant shall, at its sole cost and
expense keep any Trash in vermin-proof containers within the interior of the Premises until removed. Subject to reimbursement pursuant to Section 5.2, and subject further to Landlord’s Force Majeure, Landlord shall
furnish a service for the removal of Trash from the Premises. If any Legal Requirements or the trash removal company requires that any substances in the Premises be disposed of separately from ordinary trash, Tenant shall make arrangements at
Tenant’s expense for such disposal directly with a qualified and licensed disposal company at a lawful disposal site. 
 7.8
Additional Landlord’s Services. Subject to reimbursement pursuant to Section 5.2 above, and subject further to Landlord’s Force Majeure, Landlord shall provide the services described in
Exhibit 9 attached hereto and made a part hereof, the costs of which shall be included in Operating Costs. 
  

	8.	 MAINTENANCE AND REPAIRS 

8.1 Maintenance and Repairs by Tenant. Tenant shall keep the Premises (including all electronic, phone and data cabling and
related equipment exclusively serving the Premises (other than building service equipment), fixtures, lighting, electrical equipment and wiring, non-structural walls, interior windows, floor coverings, doors
and door frames and plate glass (provided that Landlord shall have the right to repair plate glass at Tenant’s cost)) neat and clean and free of insects, rodents, vermin and other pests and, subject to Section 7.7
above, Trash, and in such good repair, order and condition as the same are in on the Commencement Date or in such better condition as the Premises may be put in during the Term, reasonable wear and tear and damage by insured Casualty excepted.
Tenant shall be solely responsible, at Tenant’s sole cost and expense, for the proper maintenance and repair of all building systems, sanitary, electrical, heating, air conditioning, plumbing, security or other systems and of all equipment and
appliances to the extent installed and/or operated by Tenant and/or exclusively serving the Premises (provided that Landlord shall have the right to repair the same at Tenant’s cost). Tenant agrees to provide regular maintenance by contract
with a reputable qualified service contractor designated by Landlord for the heating and air conditioning, electrical, plumbing and life-safety equipment servicing the Premises, and any repairs to such heating and air conditioning, electrical,
plumbing and life-safety equipment servicing the Premises shall be performed only by contractors approved by Landlord and only after Tenant first notifies Landlord in writing of the need for any such repairs and Landlord approves the same (or
Landlord exercises its foregoing right to make such repairs at Tenant’s cost). Tenant, at Landlord’s request, shall at reasonable intervals provide Landlord with copies of such contracts and maintenance and repair records and/or reports.
At least one (1) time a year, and other times as reasonably 

  
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requested by Landlord, Tenant shall provide Landlord with an annual report (the “M&R Annual Report”) summarizing all maintenance and repairs projects conducted by Tenant since the
prior M&R Annual Report. The M&R Annual Report shall be certified by an officer of Tenant, certifying to Landlord that such work has been, or is being, completed as described in the report. 

8.2 Maintenance and Repairs by Landlord. Except as otherwise provided in Article 13, and subject to Tenant’s
obligations in Section 8.1 above, Landlord shall maintain the roof, Building structure (including the foundation, structural floor slabs and columns) and Building core (including the common restroom facilities), exterior
window frames, and except to the extent exclusively serving the Premises, the base building systems and equipment (including sanitary, electrical, heating, air conditioning, plumbing and security systems) in reasonable repair, order and condition
and in compliance with Legal Requirements. In addition, Landlord shall maintain the Common Areas in compliance with Legal Requirements and otherwise in substantially the same manner as comparable office buildings in the East Cambridge/Kendall Square
area. All costs incurred by Landlord under this Section 8.2 shall be included in Operating Costs as provided in Section 5.2. 

8.3 Accidents to Sanitary and Other Systems. Tenant shall give to Landlord prompt notice of any fire or accident in the Premises
or in the Building and of any damage to, or defective condition in, any part or appurtenance of the Building including the sanitary, electrical, ventilation, heating and air conditioning or other systems located in, or serving, the Premises. Except
as otherwise provided in Article 13, and subject to Tenant’s obligations in Section 8.1 above, such damage or defective condition shall be remedied by Landlord with reasonable diligence, but, subject to
Section 12.5 below, if such damage or defective condition was directly caused by any of the Tenant Parties, the cost to remedy the same shall be paid by Tenant. 

8.4 Floor Load—Heavy Equipment. Tenant shall not place a load upon any floor of the Premises exceeding the floor load per
square foot of area which such floor was designed to carry and which is allowed by Legal Requirements. Landlord reserves the right to prescribe the weight and position of all safes, heavy machinery, heavy equipment, freight, bulky matter or fixtures
(collectively, “Heavy Equipment”), which shall be placed so as to distribute the weight. Heavy Equipment shall be placed and maintained by Tenant at Tenant’s expense in settings sufficient in Landlord’s reasonable
judgment to absorb and prevent vibration, noise and annoyance. Tenant shall not move any Heavy Equipment into or out of the Building without giving Landlord prior written notice thereof and observing all of Landlord’s Rules and Regulations with
respect to the same. If such Heavy Equipment requires special handling, Tenant agrees to employ only persons holding a Master Rigger’s License to do said work, and that all work in connection therewith shall comply with Legal Requirements. Any
such moving shall be at the sole risk and hazard of Tenant and Tenant will defend, indemnify and save Landlord and Landlord’s agents (including its property manager), contractors and employees (collectively with Landlord, the
“Landlord Parties”) harmless from and against any and all claims, damages, judgments, losses, penalties, costs, expenses and fees (including reasonable legal fees) (collectively, “Claims”) resulting
directly or indirectly from such moving. Proper placement of all Heavy Equipment in the Premises shall be Tenant’s responsibility. 
  

	9.	 ALTERATIONS AND IMPROVEMENTS BY TENANT 

9.1 Landlord’s Consent Required. Tenant shall not make any alterations, decorations, installations, removals,
additions or improvements (collectively, “Alterations”) in or to the Premises without Landlord’s prior written consent, in Landlord’s sole discretion. 

  
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 9.2 Harmonious Relations. Tenant agrees that it will not, either directly or
indirectly, use any contractors and/or materials if their use will create any difficulty, whether in the nature of a labor dispute or otherwise, with other contractors and/or labor engaged by Tenant or Landlord or others in the construction,
maintenance and/or operation of the Property or any part thereof. In the event of any such difficulty, upon Landlord’s request, Tenant shall cause all contractors, mechanics or laborers causing such difficulty to leave the Property immediately.

 9.3 Liens. Any mechanic’s lien filed against the Premises or the Building for work claimed to have been done for, or
materials claimed to have been furnished to, Tenant shall be discharged by Tenant within ten (10) days thereafter, at Tenant’s expense by filing the bond required by law or otherwise. 

 

	10.	 SIGNAGE 

10.1 Rights and Restrictions. Tenant shall have the right to install Building standard signage identifying Tenant’s business
at the entrance to the Premises, which signage shall be (a) at Tenant’s sole cost and expense, and (b) subject to Landlord’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed) and
(c) consistent with the signage design requirements set forth on Exhibit 12 attached hereto. Subject to the foregoing, Tenant shall not place or suffer to be placed or maintained on the exterior of the Premises, or any part of the
interior visible from the exterior thereof, any sign, banner, advertising matter or any other thing of any kind, and shall not place or maintain any decoration, letter or advertising matter on the glass of any window or door of the Premises without
first obtaining Landlord’s written approval. As part of Landlord’s Work, Landlord has provided Tenant with building standard window blinds, and Tenant may not remove such building standard blinds without Landlord’s prior written
consent. 
 10.2 Building Directory. Landlord shall list Tenant within the directory in the Building lobby at Landlord’s
sole cost and expense. 
  

	11.	 ASSIGNMENT, MORTGAGING AND SUBLETTING 

11.1 Landlord’s Consent Required. Tenant shall not, without Landlord’s prior written consent, which
consent may be withheld in Landlord’s sole discretion, mortgage or otherwise encumber this Lease or the Premises in whole or in part. Tenant shall not, without Landlord’s prior written consent, assign, sublet, license or transfer this
Lease or the Premises in whole or in part whether by changes in the ownership or control of Tenant, or any direct or indirect owner of Tenant, whether at one time or at intervals, by sale or transfer of stock, partnership or beneficial interests,
operation of law or otherwise, or permit the occupancy of all or any portion of the Premises by any person or entity other than Tenant’s employees (each of the foregoing, a “Transfer”). Any purported Transfer made
without Landlord’s consent, if required hereunder, shall be void and confer no rights upon any third person, provided that if there is a Transfer, Landlord may collect rent from the transferee without waiving the prohibition against Transfers,
accepting the transferee, or releasing Tenant from full performance under this Lease. In the event of any Transfer in violation of this Article 11, it shall be an Event of Default for which there is no notice or opportunity to cure. No
Transfer shall relieve Tenant of its primary obligation as party Tenant hereunder, nor shall it reduce or increase Landlord’s obligations under this Lease. 

11.2 Landlord’s Recapture Right 

(a) Subject to Section 11.6 below, Tenant shall, prior to offering or advertising the Premises thereof for a Transfer
or accepting an offer for a Transfer, give a written notice (the “Recapture Notice”) to Landlord which: (i) states that Tenant desires to make a Transfer, (ii) identifies the affected portion of the Premises, which
may not be less than the whole of the Premises (the “Recapture Premises”), (iii) identifies the period of time (the “Recapture Period”) during which Tenant proposes to

  
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sublet the Recapture Premises, or indicates that Tenant proposes to assign its interest in this Lease, and (iv) offers to Landlord to terminate this Lease with respect to the Recapture
Premises (in the case of a proposed assignment of Tenant’s interest in this Lease or a subletting for the remainder of the term of this Lease) or to suspend the Term for the Recapture Period (i.e. the Term with respect to the Recapture Premises
shall be terminated during the Recapture Period and Tenant’s rental obligations shall be proportionately reduced). Landlord shall have fifteen (15) business days within which to respond to the Recapture Notice. 

(b) If Tenant does not enter into a Transfer on the terms and conditions contained in the Recapture Notice on or before the date which is
seventy-five (75) days after the earlier of: (x) the expiration of the 15-business day period specified in Section 11.2(a) above, or (y) the date that Landlord notifies
Tenant that Landlord elects not recapture the Recapture Premises, time being of the essence, then prior to entering into any Transfer after such 75-day period, Tenant must deliver to Landlord a new Recapture
Notice in accordance with Section 11.2(a) above 
 11.3 Standard of Consent to Transfer. Subject to
Landlord’s rights set forth in Section 11.2 to terminate the Lease or suspend the Term, Landlord agrees that, subject to the provisions of this Article 11, Landlord shall not unreasonably withhold, condition or
delay its consent to a Transfer of the Premises in whole but not in part, at fair market rent and otherwise on the terms contained in the Recapture Notice. It shall be reasonable for Landlord to withhold its consent to a Transfer (a) if the
proposed assignee or sublessee, as the case may be (a “Transferee”) will not use the Premises for the Permitted Uses, or (b) if, in Landlord’s reasonable opinion: the Transferee (i) does not have a tangible net
worth and other financial indicators sufficient to meet the Transferee’s obligations under the Transfer instrument in question; (ii) does not have a business reputation compatible with the operation of a first-class office building or the
tenant mix Landlord desires for the Building; and/or (c) intends to use the space subject to the Transfer for a use that violates any exclusive or restrictive use provisions then in effect with respect to any portion of the Property. 

11.4 Profits In Connection with Transfers. Tenant shall, within thirty (30) days of receipt thereof, pay to Landlord fifty
percent (50%) of any rent, sum or other consideration paid or given in connection with any Transfer, either initially or over time, after amortization of all reasonable
out-of-pocket attorney fees, brokerage commissions and the cost of any improvements required by such Transfer, in excess of Rent hereunder as if such amount were
originally called for by the terms of this Lease as additional rent. 
 11.5 Prohibited Transfers. Notwithstanding any
contrary provision of this Lease, excepting only a Transfer permitted under Section 11.6, Tenant shall have no right to make a Transfer unless on both (i) the date on which Tenant notifies Landlord of its intention to enter into a Transfer
and (ii) the date on which such Transfer is to take effect, there is not a Tenant default. Notwithstanding anything to the contrary contained herein, Tenant agrees that in no event shall Tenant make a Transfer to (a) any government agency;
(b) any tenant, subtenant or occupant of other space in the Property; or (c) any entity with whom Landlord, or any affiliate of Landlord shall have negotiated for space in the Property, or in any of such affiliate’s properties, in the
six (6) months immediately preceding such proposed Transfer. 
 11.6 Permitted Transfers. Provided no monetary default or
uncured Event of Default then-exists, Tenant shall have the right to make a Transfer without Landlord’s consent, but with prior written notice to Landlord, to (a) an Affiliate so long as such entity remains in such relationship to Tenant,
and (b) a Successor, provided that (i) prior to or simultaneously with any assignment pursuant to this Section 11.6, such Affiliate or Successor, as the case may be, and Tenant execute and deliver to Landlord an

  
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assignment and assumption agreement in form and substance reasonably acceptable to Landlord whereby such Affiliate or Successor, as the case may be, shall agree to be independently bound by and
upon all the covenants, agreements, terms, provisions and conditions set forth in the Lease on the part of Tenant to be performed, and whereby such Affiliate or Successor, as the case may be, shall expressly agree that the provisions of this
Article 11 shall, notwithstanding such Transfer, continue to be binding upon it with respect to all future Transfers, and (ii) such Affiliate or Successor, as the case may be, has a net worth, computed in accordance with generally
accepted accounting principles consistently applied, at least equal to the greater of (1) the Tangible Net Worth of Tenant immediately prior to such Transfer, or (2) the Tangible Net Worth of Tenant herein named on the date of this Lease.
For the purposes hereof, an “Affiliate” shall be defined as any entity (xx) that has the financial wherewithal to meet its obligations under the Transfer instrument; and (yy) which is controlled by, is under common
control with, or which controls Tenant. As used herein, “control” means direct or, either together with others acting as a group or otherwise, indirect ownership or possession of the right or power, by vote of stockholders or
directors, or by contract, agreement or other arrangements, or otherwise, to direct, determine, prevent or otherwise dictate managerial, operational or other actions or activities of any such person, firm or corporation. For the purposes hereof,
“Successor” shall mean any entity into or with which Tenant is merged or with which Tenant is consolidated or which acquires all or substantially all of Tenant’s stock or assets, provided that the surviving entity shall
have a net worth and other financial indicators sufficient to meet Tenant’s obligations hereunder. For the purposes hereof, “Tangible Net Worth” shall mean the excess of total assets over total liabilities (in each case,
determined in accordance with GAAP) excluding from the determination of total assets all assets which would be classified as intangible assets under GAAP, including, without limitation, goodwill, licenses, patents, trademarks, trade names,
copyrights, and franchises. Notwithstanding the provisions of this Section 11.6, no transaction or series of transactions which are effected solely for the purpose of qualifying as a transaction which does not require
Landlord’s consent (i.e. and thereby avoiding the operation of the provisions of this Article 11) shall be permitted pursuant to this Section 11.6. 

11.7 Investment Policies. Notwithstanding anything to the contrary contained herein, Tenant may not enter into any Transfer with
any person or entity if the identity of such person or entity is inconsistent with the written investment policies of Landlord and/or Landlord’s parent (as the same may change from time to time) as provided to Tenant by Landlord prior to
Landlord’s receipt of Tenant’s notice of such proposed Transfer, and any such Transfer shall be void ab initio. The provisions of this Section 11.7 shall apply to all Transferees, including Affiliates and
Successors. Notwithstanding the foregoing, the provisions of this Section 11.7 shall be of no further force and effect if Landlord and/or Fee Owner are no longer affiliates of Massachusetts Institute of Technology. 

 

	12.	 INSURANCE; INDEMNIFICATION; EXCULPATION 

12.1 Tenant’s Insurance. 

(a) Tenant shall procure, pay for and keep in force throughout the Term (and for so long thereafter as Tenant remains in occupancy of the
Premises) commercial general liability insurance and such other insurance specified on Exhibit 10 attached hereto. 
 12.2
Indemnification. Tenant shall defend, indemnify and save the Landlord Parties harmless from and against any and all Claims asserted by or on behalf of any person, firm, corporation or public authority arising from: 

(a) Tenant’s breach of any covenant or obligation under this Lease; 

  
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 (b) Any injury to or death of any person, or loss of or damage to property, sustained or
occurring in, upon, at or about the Premises; 
 (c) Any injury to or death of any person, or loss of or damage to property (A) arising
out of the use or occupancy of the Premises by or (B) caused by or arising from the negligence or willful misconduct of any of the Tenant Parties; and 

(d) On account of or based upon any work or thing whatsoever done (other than by Landlord or any of the Landlord Parties) at the Premises
during the Term and during the period of time, if any, prior to the Commencement Date that any of the Tenant Parties may have been given access to the Premises. 

This Section 12.2 (as well as any other provisions of this Lease dealing with indemnification of Landlord by Tenant)
shall be deemed to be modified in each case by the insertion in the appropriate place of the following: “except as otherwise provided in Section 15 of Chapter 186 of the Massachusetts General Laws, as the same may be amended”. 

12.3 Property of Tenant. Tenant covenants and agrees that, to the maximum extent permitted by Legal Requirements, all of
Tenant’s Property at the Premises shall be at the sole risk and hazard of Tenant, and that if the whole or any part thereof shall be damaged, destroyed, stolen or removed from any cause or reason whatsoever, no part of said damage or loss shall
be charged to, or borne by, Landlord, except, subject to Section 12.5 hereof, to the extent such damage or loss is due to the negligence or willful misconduct of any of the Landlord Parties. 

12.4 Limitation of Landlord’s Liability for Damage or Injury. Landlord shall not be liable for any injury or
damage to persons or property resulting from fire, explosion, falling plaster, steam, gas, air contaminants or emissions, electricity, electrical or electronic emanations or disturbance, water, rain or snow or leaks from any part of the Building or
from the pipes, appliances, equipment or plumbing works or from the roof, street or sub-surface or from any other place or caused by dampness, vandalism, malicious mischief or by any other cause of whatever
nature, except to the extent caused by or due to the negligence or willful misconduct of any of the Landlord Parties, and then, where notice and an opportunity to cure are appropriate (i.e., where Tenant has an opportunity to know or should have
known of such condition sufficiently in advance of the occurrence of any such injury or damage resulting therefrom as would have enabled Landlord to prevent such damage or loss had Tenant notified Landlord of such condition) only after
(i) notice to Landlord of the condition claimed to constitute negligence or willful misconduct, and (ii) the expiration of a reasonable time after such notice has been received by Landlord without Landlord having commenced to take all
reasonable and practicable means to cure or correct such condition; and pending such cure or correction by Landlord, Tenant shall take all reasonably prudent temporary measures and safeguards to prevent any injury, loss or damage to persons or
property. Notwithstanding the foregoing, in no event shall any of the Landlord Parties be liable for any loss which is covered by insurance policies actually carried or required to be so carried by this Lease; nor shall any of the Landlord Parties
be liable for any such damage caused by other tenants or persons in the Building or caused by operations in construction of any private, public, or quasi-public work; nor shall any of the Landlord Parties be liable for any latent defect in the
Premises or in the Building. 
 12.5 Waiver of Subrogation; Mutual Release. Landlord and Tenant each hereby waives on behalf of
itself and its property insurers (none of which shall ever be assigned any such claim or be entitled thereto due to subrogation or otherwise) any and all rights of recovery, claim, action, or cause of action against the other and its agents,
officers, servants, partners, shareholders, or employees (collectively, the “Related Parties”) for any loss or damage (excluding rights of recovery, claims, actions, and causes of action relating to damage to the roof of the
Building caused by Tenant but 

  
 17 

 
including rights of recovery, claims, actions, and causes of action relating to damage to the roof of the Building caused by any Casualty (hereinafter defined)) that may occur to or within the
Premises or the Building or any improvements thereto, or any personal property of such party therein which is insured against under any property insurance policy actually being maintained by the waiving party from time to time, even if not required
hereunder, or which would be insured against under the terms of any insurance policy required to be carried or maintained by the waiving party hereunder, whether or not such insurance coverage is actually being maintained, including, in every
instance, such loss or damage that may be caused by the negligence of the other party hereto and/or its Related Parties. Landlord and Tenant each agrees to cause appropriate clauses to be included in its property insurance policies necessary to
implement the foregoing provisions. 
 12.6 Tenant’s Acts—Effect on Insurance. Tenant shall not do or
permit any Tenant Party to do any act or thing upon the Premises or elsewhere in the Building which will invalidate or be in conflict with any insurance policies or warranties covering the Building and the fixtures and property therein; and shall
not do, or permit to be done, any act or thing upon the Premises which shall subject Landlord to any liability or responsibility for injury to any person or persons or to property by reason of any business or operation being carried on upon said
Premises or for any other reason. If by reason of Tenant’s use of the Premises or the failure of Tenant to comply with the provisions of this Lease the insurance rate applicable to any policy of insurance shall at any time thereafter be higher
than it otherwise would be, Tenant shall reimburse Landlord upon demand for that part of any insurance premiums which shall have been charged because of such use or failure by Tenant, together with interest at the Default Rate until paid in full,
within ten (10) days after receipt of an invoice therefor. 
  

	13.	 CASUALTY; TAKING 

13.1 Damage. If the Premises are damaged in whole or part because of fire or other insured casualty
(“Casualty”), or if the Premises are subject to a taking in connection with the exercise of any power of eminent domain, condemnation, or purchase under threat or in lieu thereof (any of the foregoing, a
“Taking”), then unless this Lease is terminated in accordance with Section 13.2 below, Landlord shall restore the Building and/or the Premises to substantially the same condition as existed prior to
the Casualty, or in the event of a partial Taking which affects the Building and the Premises, restore the remainder of the Building and the Premises not so Taken to substantially the same condition as is reasonably feasible. If, in Landlord’s
reasonable judgment, any element of the Tenant-Insured Improvements can more effectively be restored as an integral part of Landlord’s restoration of the Building or the Premises, such restoration shall also be made by Landlord, but at
Tenant’s sole cost and expense. Subject to rights of Mortgagees, any act or omission by Tenant and/or Tenant’s agents, servants, employees, contractors, subcontractors, licensees and/or subtenants (collectively with Tenant, the
“Tenant Parties”) which causes an actual delay in the performance of Landlord’s restoration work, Legal Requirements then in existence and to delays for adjustment of insurance proceeds or Taking awards, as the case may
be, and instances of Landlord’s Force Majeure, Landlord shall substantially complete such restoration within one (1) year after Landlord’s receipt of all required permits therefor. Upon substantial completion of such restoration by
Landlord, Tenant shall use diligent efforts to complete restoration of the Premises to substantially the same condition as existed immediately prior to such Casualty or Taking, as the case may be, as soon as reasonably possible. Tenant agrees to
cooperate with Landlord in such manner as Landlord may reasonably request to assist Landlord in collecting insurance proceeds due in connection with any Casualty which affects the Premises or the Building. In no event shall Landlord be required to
expend more than the Net (hereinafter defined) insurance proceeds Landlord receives for damage to the Premises and/or the Building or the Net Taking award attributable to the Premises and/or the Building. “Net” means the
insurance proceeds or Taking award actually paid to Landlord (and not paid over to a Mortgagee) less all costs and expenses, including adjusters and attorneys’ fees, of obtaining the same. In the fiscal year in which a Casualty occurs, there
shall be included in Operating Costs Landlord’s deductible under its property insurance policy. Except as Landlord may elect pursuant to this Section 13.1, under no circumstances shall Landlord be required to repair
any damage to, or make any repairs to or replacements of, any Tenant-Insured Improvements. 

  
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 13.2 Termination Rights. 

(a) Landlord’s Termination Rights. Landlord may terminate this Lease upon thirty (30) days’ prior written notice to
Tenant if: 
 (i) any material portion of the Building or any material means of access thereto is taken; 

(ii) more than thirty-five percent (35%) of the Building is damaged by Casualty; or 

(iii) if the estimated time to complete restoration exceeds one (1) year from the date on which Landlord receives all required permits
for such restoration. 
 (b) Tenant’s Termination Right. If Landlord is so required but fails to complete restoration of the
Premises within the time frames and subject to the conditions set forth in Section 13.1 above, then Tenant may terminate this Lease upon sixty (60) days’ written notice to Landlord; provided, however, that if
Landlord completes such restoration within sixty (60) days after receipt of any such termination notice, such termination notice shall be null and void and this Lease shall continue in full force and effect. The remedies set forth in this
Section 13.2(b) and in Section 13.2(c) below are Tenant’s sole and exclusive rights and remedies based upon Landlord’s failure to complete the restoration of the Premises as set forth
herein. 
 (c) Either Party May Terminate. In the case of any Casualty or Taking affecting the Premises and occurring during the last
twelve (12) months of the Term, then (i) if such Casualty or Taking results in more than twenty-five percent (25%) of the floor area of the Premises being unsuitable for the Permitted Uses, or (ii) the damage to the Premises costs
more than $250,000 to restore, then either Landlord or Tenant shall have the option to terminate this Lease upon thirty (30) days’ written notice to the other. In addition, if any Mortgagee does not release sufficient insurance proceeds to
cover the cost of Landlord’s restoration work, Landlord shall notify Tenant thereof. In such event, unless Landlord agrees in writing to cover the difference, Landlord or Tenant may terminate this Lease by written notice to the other within
thirty (30) days after such notice from Landlord. 
 (d) Automatic Termination. In the case of a Taking of the entire Premises,
then this Lease shall automatically terminate as of the date of possession by the Taking authority. 
 (e) Tenant shall assign to Landlord
all of its right, title and interest in and to the insurance proceeds for any Alterations (a) if the Term shall expire prior to the completion of Tenant’s restoration pursuant to Section 13.1 above, or
(ii) if this Lease is terminated pursuant to any provision of this Lease prior to the completion of Tenant’s restoration pursuant to Section 13.1 above, in each case equal to the sum of the unamortized costs of
any portion of any Alterations that were not designated for removal pursuant to Article 9. 
 (f) Notwithstanding anything to the
contrary contained herein, Tenant may not terminate this Lease pursuant to this Article 13 if the Casualty in question was caused by the negligence or willful misconduct of any of the Tenant Parties. 

  
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 13.3 Taking for Temporary Use. If the Premises are Taken for temporary use,
this Lease and Tenant’s obligations, including the payment of Rent, shall continue. For purposes hereof, “Taken for temporary use” shall mean a Taking of ninety (90) days or less. 

13.4 Disposition of Awards. Except for any separate award for Tenant’s movable trade fixtures, relocation expenses, and
unamortized leasehold improvements paid for by Tenant (provided that the same may not reduce Landlord’s award), all Taking awards to Landlord or Tenant shall be Landlord’s property without Tenant’s participation, and Tenant hereby
assigns to Landlord Tenant’s interest, if any, in such award. Tenant may pursue its own claim against the Taking authority. 
 14. ESTOPPEL
CERTIFICATE. Tenant shall at any time and from time to time upon not less than ten (10) days’ prior notice from Landlord, execute, acknowledge and deliver to Landlord a statement in writing certifying that this Lease is unmodified and
in full force and effect (or if there have been modifications, that the same is in full force and effect as modified and stating the modifications), and the dates to which Rent has been paid in advance, if any, stating whether or not Landlord is in
default in performance of any covenant, agreement, term, provision or condition contained in this Lease and, if so, specifying each such default, and such other facts as Landlord may reasonably request, it being intended that any such statement
delivered pursuant hereto may be relied upon by Landlord, any prospective purchaser of the Building or of any interest of Landlord therein, any Mortgagee or prospective Mortgagee thereof, any lessor or prospective lessor thereof, any lessee or
prospective lessee thereof, or any prospective assignee of any Mortgagee. Time is of the essence with respect to any such requested certificate, Tenant hereby acknowledging the importance of such certificates in mortgage financing arrangements,
prospective sales and the like. If Tenant shall fail to execute and deliver to Landlord any such statement within such ten-day period, Tenant hereby appoints Landlord as Tenant’s attorney-in-fact in its name and behalf to execute such statement, such appointment being coupled with an interest. 

 

	15.	 HAZARDOUS MATERIALS 

15.1 Prohibition. Except for de minimis quantities of standard office supplies and cleaning materials stored in compliance with
Environmental Laws (hereinafter defined) and in proper containers, Tenant shall not, without the prior written consent of Landlord, which may be withheld in Landlord’s sole discretion, bring or permit to be brought or kept in or on the Premises
or elsewhere in the Building (i) any inflammable, combustible or explosive fluid, material, chemical or substance; or (ii) any Hazardous Material (hereinafter defined). Upon at least forty-eight (48) hours’ notice, except that no
notice shall be required in an emergency, Landlord shall have the right, from time to time, to inspect the Premises for compliance with the terms of this Section 15.1 at Tenant’s sole cost and expense. 

15.2 Environmental Laws. For purposes hereof, “Environmental Laws” shall mean all laws, statutes,
ordinances, rules and regulations of any local, state or federal governmental authority having jurisdiction concerning environmental, health and safety matters, including but not limited to any discharge by any of the Tenant Parties into the air
(including indoor air and outdoor air), surface water, sewers, soil or groundwater of any Hazardous Material (hereinafter defined) whether within or outside the Premises, including (a) the Federal Water Pollution Control Act, 33 U.S.C.
Section 1251 et seq., (b) the Federal Resource Conservation and Recovery Act, 42 U.S.C. Section 6901 et seq., (c) the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601 et seq., (d) the Toxic
Substances Control Act of 1976, 15 U.S.C. Section 2601 et seq., (e) Chapter 21C of the General Laws of Massachusetts; and (f) Chapter 21E of the General Laws of Massachusetts. Tenant, at its sole cost and expense, shall comply with
(i) all Environmental Laws, and (ii) any rules, requirements and safety procedures of the Massachusetts Department of Environmental Protection, the City of Cambridge and any insurer of the Building or the Premises with respect to
Tenant’s use, storage and disposal of any Hazardous Materials. 

  
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 15.3 Hazardous Material Defined. As used herein, the term
“Hazardous Material” means asbestos, oil or any hazardous, radioactive or toxic substance, material or waste or petroleum derivative which is or becomes regulated by any Environmental Law, including live organisms, viruses
and fungi, medical waste and any so-called “biohazard” materials, and any material on the right to know list of the Occupational Safety and Health Administration. The term
“Hazardous Material” includes oil and/or any material or substance which is (i) designated as a “hazardous substance,” “hazardous material,” “oil,”
“hazardous waste” or toxic substance under any Environmental Law or (ii) contains any component now or hereafter designated as such. 

15.4 Pre-Existing Hazardous Materials. Tenant acknowledges that asbestos is
present in the Building. Landlord shall, at its sole cost and expense, comply with all Environmental Laws with respect to the existence of Hazardous Materials in, on or at the Property as of the Execution Date. 

 

	16.	 RULES AND REGULATIONS 

16.1 Rules and Regulations. Tenant will faithfully observe and comply with all rules and regulations promulgated from time to
time with respect to the Building, the Property and construction within the Property (collectively, the “Rules and Regulations”). The current version of the Rules and Regulations is attached hereto as Exhibit 11. In
the case of any conflict between the provisions of this Lease and any future rules and regulations, the provisions of this Lease shall control. Nothing contained in this Lease shall be construed to impose upon Landlord any duty or obligation to
enforce the Rules and Regulations or the terms, covenants or conditions in any other lease as against any other tenant and Landlord shall not be liable to Tenant for violation of the same by any other tenant, its servants, employees, agents,
contractors, visitors, invitees or licensees. 
 16.2 Energy Conservation. Notwithstanding anything to the contrary contained
herein, Landlord may institute upon written notice to Tenant such policies, programs and measures as may be necessary, required, or expedient for the conservation and/or preservation of energy or energy services (collectively, the
“Conservation Program”), provided, however, that the Conservation Program does not, by reason of such policies, programs and measures, reduce the level of energy or energy services being provided to the Premises below the
level of energy or energy services then being provided in comparable office buildings in the East Cambridge/Kendall Square area, or as may be necessary or required to comply with Legal Requirements or standards or the other provisions of this Lease.
Upon receipt of such notice, Tenant shall comply with the Conservation Program at Tenant’s sole cost and expense. Without limiting the foregoing, Tenant acknowledges that the Building intends to obtain Leadership in Energy and Environmental
Design (“LEED”) certification as established by the U.S. Green Building Council (“USGBC”). Any reasonable costs incurred by Landlord in connection with maintaining such certification shall be considered
Operating Costs. Tenant shall cooperate as reasonably requested by Landlord in the maintenance of such certification to the extent required to maintain the same. 

16.3 Recycling. Landlord may establish policies, programs and measures for the recycling of paper, products, plastic, and other
materials (a “Recycling Program”). Upon receipt of such notice, Tenant will comply with the Recycling Program at Tenant’s sole cost and expense. 
  

	17.	 LEGAL REQUIREMENTS 

17.1 Legal Requirements. Tenant shall be responsible at its sole cost and expense for complying with (and keeping the Premises in
compliance with) all Legal Requirements that are applicable to Tenant’s manner of use or occupancy of, or Alterations made by or on behalf of Tenant to, the Premises. Tenant shall furnish all data and information to governmental authorities,
with a copy to 

  
 21 

 
Landlord, as required in accordance with Legal Requirements as they relate to Tenant’s use or occupancy of the Premises or the Building. If Tenant receives notice of any violation of Legal
Requirements applicable to the Premises or the Building, it shall give prompt notice thereof to Landlord. Nothing contained in this Section 17.1 shall be construed to expand the uses permitted hereunder beyond the Permitted
Uses. 
  

	18.	 DEFAULT 

18.1 Events of Default. The occurrence of any one or more of the following events shall constitute an “Event of
Default” hereunder by Tenant: 
 (a) If Tenant fails to make any payment of Rent or any other payment required hereunder, as and
when due, and such failure shall continue for a period of three (3) days after notice thereof from Landlord to Tenant; provided, however, an Event of Default shall occur hereunder without any obligation of Landlord to give any notice if
(i) Tenant fails to make any payment on or before the due date therefor, and (ii) Landlord has given Tenant written notice under this Section 18.1(a) on more than one (1) occasion during the twelve (12) month interval
preceding such failure by Tenant; 
 (b) If Tenant shall vacate or abandon the Premises (whether or not the keys shall have been surrendered
or the Rent shall have been paid); 
 (c) If Tenant shall fail to execute and deliver to Landlord an estoppel certificate pursuant to Article
14 above or a subordination and attornment agreement pursuant to Article 20 below, within the timeframes set forth therein and such failure continues for five (5) days after notice thereof; 

(d) If Tenant shall fail to maintain any insurance required hereunder; 

(e) If Tenant shall fail to restore the Security Deposit to its original amount or deliver a replacement Letter of Credit as required under
Article 6 above; 
 (f) If Tenant causes or suffers any release of Hazardous Materials in, on or near the Property; 

(g) If Tenant shall make a Transfer in violation of the provisions of Article 11 above, or if any event shall occur or any contingency shall
arise whereby this Lease, or the term and estate thereby created, would (by operation of law or otherwise) devolve upon or pass to any person, firm or corporation other than Tenant, except as expressly permitted under Article 11 hereof; 

(h) If Tenant fails to comply with the provisions of Article 2 and/or Section 4.2 above, and such failure shall continue for a period of
three (3) days after notice thereof from Landlord to Tenant; provided, however, an Event of Default shall occur hereunder without any obligation of Landlord to give any notice if (i) Tenant fails to comply with the provisions of Article 2
or Section 4.2 above, and (ii) Landlord has given Tenant written notice under this Section 18.1(h) on more than one (1) occasion during the twelve (12) month interval preceding such failure by Tenant; 

(i) The failure by Tenant to observe or perform any of the covenants or provisions of this Lease to be observed or performed by Tenant, other
than as specified above, and such failure continues for more than thirty (30) days after notice thereof from Landlord; provided, further, that if the nature of Tenant’s default is such that more than thirty (30) days are reasonably
required for its cure, then Tenant shall not be deemed to be in default if Tenant shall commence such cure within said thirty (30) day period and thereafter diligently prosecute such cure to completion, which completion shall occur not later
than ninety (90) days from the date of such notice from Landlord regardless of the reason for lack of completion; 

  
 22 

 (j) Tenant makes an assignment for the benefit of creditors, or a receiver, trustee or
custodian is appointed to or does take title, possession or control of all or substantially all of Tenant’s assets; 
 (k) Tenant files
a voluntary petition under the United States Bankruptcy Code or any successor statute (as the same may be amended from time to time, the “Bankruptcy Code”) or an order for relief is entered against Tenant pursuant to a voluntary or
involuntary proceeding commenced under any chapter of the Bankruptcy Code, or any involuntary petition is filed against Tenant under any chapter of the Bankruptcy Code and is not dismissed within one hundred twenty (120) days; 

(l) Any judgment, attachment or the like in excess of $100,000 shall be entered, recorded or filed against Tenant in any court, registry, etc.
and Tenant shall fail to pay such judgment within thirty (30) days after the judgment shall have become final beyond appeal or to discharge or secure by surety bond such lien, attachment, etc. within thirty (30) days of such entry,
recording or filing, as the case may be; or 
 (m) The leasehold hereby created shall be taken on execution or by other process of law and
shall not be revested in Tenant within thirty (30) days thereafter. 
 Tenant shall reimburse Landlord, within thirty (30) days after demand, for
Landlord’s reasonable out-of-pocket costs and expenses (including legal fees and costs) incurred in connection with the preparation and delivery of each notice of
default delivered pursuant to this Section 18.1 (which notice of default may include such demand for payment). 

18.2 Remedies. Upon an Event of Default, Landlord may, by notice to Tenant, elect to terminate this Lease; and thereupon (and
without prejudice to any remedies which might otherwise be available to Landlord, including for arrears of Rent or preceding breach of covenant or agreement and without prejudice to Tenant’s liability for damages as hereinafter stated), upon
the giving of such notice, this Lease shall terminate as of the date specified therein as though that were the Expiration Date. Upon such termination, Landlord shall have the right to utilize the Security Deposit or draw down the entire Letter of
Credit, as applicable, and apply the proceeds thereof to its damages hereunder. Without being taken or deemed to be guilty of any manner of trespass or conversion, and without being liable to indictment, prosecution or damages therefor, Landlord
may, by lawful process, enter into and upon the Premises (or any part thereof in the name of the whole); repossess the same, as of its former estate; and expel Tenant and those claiming under Tenant. The words “re-entry” and “re-enter” as used in this Lease are not restricted to their technical legal meanings. 

18.3 Damages—Termination. 

(a) Upon the termination of this Lease under the provisions of this Article 18, Tenant shall pay to Landlord Rent up to the time of such
termination, shall continue to be liable for any breach or default preceding such termination, and in addition, shall pay to Landlord as damages, at the election of Landlord, either: 

(i) the amount (discounted to present value at the rate of five percent (5%) per annum) by which, at the time of the termination of this Lease
(or at any time thereafter if Landlord shall have initially elected damages under Section 18.3(a)(ii) below), (x) the aggregate of Rent projected over the period commencing with such termination and ending on the Expiration
Date, exceeds (y) the aggregate projected rental value of the Premises for such period, taking into account a reasonable time period during which the Premises shall be unoccupied, plus all Reletting Costs (hereinafter defined); or 

  
 23 

 (ii) amounts equal to Rent which would have been payable by Tenant had this Lease not been
so terminated, payable upon the due dates therefor specified herein following such termination and until the Expiration Date, provided, however, if Landlord shall re-let the Premises during such period, then
Landlord shall credit Tenant with the net rents received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses incurred or paid by Landlord in terminating this Lease, as well as the expenses of re-letting, including altering and preparing the Premises for new
tenants, brokers’ commissions, and all other similar and dissimilar expenses properly chargeable against the Premises and the rental therefrom (collectively, “Reletting Costs”), it being understood that any such re-letting may be for a period equal to or shorter or longer than the remaining Term at Landlord’s sole and absolute discretion without otherwise affecting this remedy; and provided, further, that (x) in
no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by Tenant to Landlord hereunder and (y) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this
Section 18.3(a)(ii) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of
such suit. If the Premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. 
 (b) In calculating
the amount due under Section 18.3(a)(i), above, there shall be included, in addition to the Base Rent, all other considerations agreed to be paid or performed by Tenant, including Tenant’s Share of Operating Costs and
Tenant’s Tax Share of Taxes, on the assumption that all such amounts and considerations would have increased at the rate of five percent (5%) per annum for the balance of the full term hereby granted. 

(c) Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election,
and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the Term would have expired if it had not been terminated hereunder. 

(d) Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to
which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any Event of Default hereunder. 

(e) In lieu of any other damages or indemnity and in lieu of full recovery by Landlord of all sums payable under all the foregoing provisions
of this Section 18.3, Landlord may, by written notice to Tenant, at any time after this Lease is terminated under any of the provisions herein contained or is otherwise terminated for breach of any obligation of Tenant and
before such full recovery, elect to recover, and Tenant shall thereupon pay, as liquidated damages, an amount equal to the aggregate of (x) an amount equal to the lesser of (1) Rent accrued under this Lease in the twelve (12) months
immediately prior to such termination, or (2) Rent payable during the remaining months of the Term if this Lease had not been terminated, plus (y) the amount of Rent accrued and unpaid at the time of termination, less (z) the amount
of any recovery by Landlord under the foregoing provisions of this Section 18.3 up to the time of payment of such liquidated damages; Tenant hereby acknowledging that the damages which Landlord may suffer as the result of
the termination of this Lease as a result of an Event of Default over cannot be determined as of the Execution Date. The terms and provisions of Section 18.3 shall survive the expiration or termination of this Lease. 

  
 24 

 18.4 Landlord’s Self-Help; Fees and Expenses. If Tenant
shall default in the performance of any covenant on Tenant’s part to be performed in this Lease contained, including the obligation to maintain the Premises in the required condition pursuant to Section 8.1 above,
Landlord may, upon reasonable advance notice, except that no notice shall be required in an emergency, immediately, or at any time thereafter, perform the same for the account of Tenant. Tenant shall pay to Landlord upon demand therefor any costs
incurred by Landlord in connection therewith, together with interest at the Default Rate until paid in full. In addition, Tenant shall pay all of Landlord’s costs and expenses, including reasonable attorneys’ fees, incurred (i) in
enforcing any obligation of Tenant under this Lease or (ii) as a result of Landlord or any of the Landlord Parties being made party to any litigation pending by or against any of the Tenant Parties. 

18.5 Waiver of Redemption, Statutory Notice and Grace Periods. Tenant does hereby waive and surrender all rights and privileges
which it might have under or by reason of any present or future Legal Requirements to redeem the Premises or to have a continuance of this Lease for the Term hereby demised after being dispossessed or ejected therefrom by process of law or under the
terms of this Lease or after the termination of this Lease as herein provided. Except to the extent prohibited by Legal Requirements, any statutory notice and grace periods provided to Tenant by law are hereby expressly waived by Tenant. 

18.6 Landlord’s Remedies Not Exclusive. The specified remedies to which Landlord may resort hereunder are
cumulative and are not intended to be exclusive of any remedies or means of redress to which Landlord may at any time be lawfully entitled, and Landlord may invoke any remedy (including the remedy of specific performance) allowed at law or in equity
as if specific remedies were not herein provided for; Tenant hereby acknowledging that the damages which Landlord may suffer as the result of the termination of this Lease as a result of an Event of Default over cannot be determined as of the
Execution Date. 
 18.7 No Waiver. Landlord’s failure to seek redress for violation, or to insist upon the strict
performance, of any covenant or condition of this Lease, or any of the Rules and Regulations promulgated hereunder, shall not prevent a subsequent act, which would have originally constituted a violation, from having all the force and effect of an
original violation. The receipt by Landlord of Rent with knowledge of the breach of any covenant of this Lease shall not be deemed a waiver of such breach. The failure of Landlord to enforce any of such Rules and Regulations against Tenant and/or
any other tenant in the Building shall not be deemed a waiver of any such Rules and Regulations. No provisions of this Lease shall be deemed to have been waived by either party unless such waiver shall be in writing signed by such party against whom
a waiver is claimed. No payment by Tenant or receipt by Landlord of a lesser amount than the Rent herein stipulated shall be deemed to be other than on account of the stipulated Rent, nor shall any endorsement or statement on any check or any letter
accompanying any check or payment as Rent be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Rent or pursue any other remedy in this Lease
provided. 
 18.8 Restrictions on Tenant’s Rights. During the continuation of any Event of Default,
(a) Landlord shall not be obligated to provide Tenant with any notice pursuant to Sections 2.3 above; and (b) Tenant shall not have the right to make, nor to request Landlord’s consent or approval with respect to, any
Alterations. 
 18.9 Landlord Default. Notwithstanding anything to the contrary contained in the Lease, Landlord shall in no
event be in default in the performance of any of Landlord’s obligations under this Lease unless Landlord shall have failed to perform such obligations within thirty (30) days (or such additional time as is reasonably required to correct
any such default, provided Landlord commences cure 

  
 25 

 
within 30 days) after written notice by Tenant to Landlord properly specifying wherein Landlord has failed to perform any such obligation. Except as expressly set forth in this Lease, Tenant
shall not have the right to terminate or cancel this Lease or to withhold Rent or to set-off or deduct any claim or damages against Rent as a result of any default by Landlord or breach by Landlord of its
covenants or any warranties or promises hereunder. In addition, Tenant shall not assert any right to deduct the cost of repairs or any monetary claim against Landlord from Rent due and payable under this Lease. 

 

	19.	 SURRENDER; ABANDONED PROPERTY; HOLD-OVER 

19.1 Surrender 
 (a) Upon
the expiration or earlier termination of the Term, Tenant shall (i) peaceably quit and surrender to Landlord the Premises broom clean, in good order, repair and condition excepting only ordinary wear and tear and damage by fire or other insured
Casualty; (ii) remove all of Tenant’s Property (including all cabling, trade fixtures, furniture and equipment) and, to the extent specified by Landlord, Alterations made by Tenant, and (iii) repair any damages to the Premises or the
Building caused by the installation or removal of Tenant’s Property and/or such Alterations. Tenant’s obligations under this Section 19.1(a) shall survive the expiration or earlier termination of this Lease. 

(b) No act or thing done by Landlord during the Term shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept
such surrender shall be valid, unless in writing signed by Landlord. Unless otherwise agreed by the parties in writing, no employee of Landlord or of Landlord’s agents shall have any power to accept the keys of the Premises prior to the
expiration or earlier termination of this Lease. The delivery of keys to any employee of Landlord or of Landlord’s agents shall not operate as a termination of this Lease or a surrender of the Premises. 

(c) Notwithstanding anything to the contrary contained herein, Tenant shall, at its sole cost and expense, remove from the Premises, prior to
the end of the Term, any item installed by or for Tenant and which, pursuant to Legal Requirements, must be removed therefrom before the Premises may be used by a subsequent tenant. 

(d) Tenant hereby assigns to Landlord any warranties in effect on the last day of the Term with respect to any fixtures and Alterations
remaining in the Premises. Tenant shall provide Landlord with copies of any such warranties prior to the expiration of the Term (or, if the Lease is earlier terminated, within five (5) days thereafter). 

19.2 Abandoned Property. After the expiration or earlier termination of this Lease, if Tenant fails to remove any property from
the Building or the Premises that Tenant is obligated by the terms of this Lease to remove within five (5) business days after written notice from Landlord, such property (the “Abandoned Property”) shall be conclusively
deemed to have been abandoned, and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any item of Abandoned Property shall be sold, Tenant hereby agrees that Landlord may
receive and retain the proceeds of such sale and apply the same, at its option, to the expenses of the sale, the cost of moving and storage, any damages to which Landlord may be entitled under Article 18 hereof or pursuant to law, and to any
arrears of Rent. 
 19.3 Holdover. If any of the Tenant Parties holds over after the end of the Term, Tenant shall be deemed a tenant-at-sufferance subject to the provisions of this Lease; provided that whether or not Landlord has previously accepted payments of Rent from Tenant, (i) Tenant
shall, for the first thirty (30) days after the Expiration Date, pay Base Rent at 150% of the highest rate of Base Rent payable during the Term, and thereafter pay Base Rent at 200% of the highest rate of Base Rent payable during the Term, (ii)

  
 26 

 
Tenant shall continue to pay to Landlord all additional rent, and (iii) Tenant shall be liable for all damages, including lost business and consequential damages, incurred by Landlord as a
result of such holding over, Tenant hereby acknowledging that Landlord may need the Premises after the end of the Term for other tenants and that the damages which Landlord may suffer as the result of Tenant’s holding over cannot be determined
as of the Execution Date. Nothing contained herein shall grant Tenant the right to holdover after the expiration or earlier termination of the Term or affect Tenant’s status as a
tenant-at-sufferance during any holdover period. 
  

	20.	 MORTGAGEE RIGHTS 

20.1 Subordination. Tenant’s rights and interests under this Lease shall be (i) subject and subordinate to any existing
or future (a) ground lease (including without the Master Lease), (b) subleases or other instruments pursuant to any sale and leaseback transaction of the Master Lease or the Property, and (c) any mortgages, deeds of trust, overleases, or
similar instruments covering the Premises, the Building and/or the Land and to all advances, modifications, renewals, replacements, and extensions thereof (each of the foregoing, a “Mortgage”), or (ii) if any Mortgagee
elects, prior to the lien of any present or future Mortgage. Tenant further shall attorn to and recognize any successor landlord, whether through foreclosure or otherwise, as if the successor landlord were the originally named landlord. The
provisions of this Section 20.1 shall be self-operative and no further instrument shall be required to effect such subordination or attornment; however, Tenant agrees to execute, acknowledge and deliver such instruments,
confirming such subordination and attornment in such form as shall be requested by any such holder within ten (10) business days of request therefor. If Tenant shall fail to execute and deliver to Landlord any such statement within such ten-day period, Tenant hereby appoints Landlord as Tenant’s attorney-in-fact in its name and behalf to execute such statement,
such appointment being coupled with an interest. With respect to the Master Lease, Tenant shall execute and deliver to Landlord simultaneously with its execution and delivery of this Lease, the Subordination,
Non-Disturbance and Attornment Agreement (the “Master Lease SNDA”) in the form attached hereto as Exhibit 13. Landlord may record the Master Lease SNDA in the Registry at its
sole cost and expense. 
 20.2 Mortgagee Notices. Tenant shall give each Mortgagee the same notices given to Landlord
concurrently with the notice to Landlord, and each Mortgagee shall have a reasonable opportunity to cure a Landlord default after the expiration of Landlord’s applicable notice and/or cure periods if Landlord fails to do so, and
Mortgagee’s curing of any of Landlord’s default shall be treated as performance by Landlord. 
 20.3 Mortgagee
Liability. Tenant acknowledges and agrees that if any Mortgage shall be foreclosed, (a) the liability of the Mortgagee and its successors and assigns shall exist only so long as such Mortgagee or purchaser is the owner of the Premises, and
such liability shall not continue or survive after further transfer of ownership; and (b) such Mortgagee and its successors or assigns shall not be (i) liable for any act or omission of any prior lessor under this Lease; (ii) liable
for the performance of Landlord’s covenants pursuant to the provisions of this Lease which arise and accrue prior to such entity succeeding to the interest of Landlord under this Lease or acquiring such right to possession; (iii) subject
to any offsets or defense which Tenant may have at any time against Landlord; (iv) bound by any Rent or other amounts which Tenant may have paid previously for more than one (1) month; or (v) liable for the performance of any covenant
of Landlord under this Lease which is capable of performance only by the original Landlord. 
 21. QUIET ENJOYMENT. Landlord covenants that so
long as Tenant keeps and performs each and every covenant, agreement, term, provision and condition herein contained on the part and on behalf of Tenant to be kept and performed, Tenant shall peaceably and quietly hold, occupy and enjoy the Premises
during the Term from and against the claims of all persons lawfully claiming by, through or under Landlord subject, nevertheless, to the covenants, agreements, terms, provisions and conditions of this Lease, any matters of record or of which Tenant
has knowledge and to any Mortgage to which this Lease is subject and subordinate, as hereinabove set forth. 

  
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 22. NOTICES. Any notice, consent, request, bill, demand or statement hereunder by either party
to the other party shall be in writing and shall be deemed to have been duly given when either delivered by hand or by nationally recognized overnight courier or refused, as the case may be (in either case with evidence of delivery or refusal
thereof) and addressed as follows: 
  

					
	            	  	If to Landlord:	  	 MIT 139 Main Street Leasehold LLC
 c/o MIT
Cambridge Real Estate LLC
 One Broadway, Suite 09-200

Cambridge, MA 02142
 Attention: President

			
		  	With copies to:	  	 MIT Investment Management Company
 One Broadway,
Suite 09-200
 Cambridge, MA 02142

Attention: Director of Real Estate Legal Services

			
		  	and:	  	 Jones Lang LaSalle Americas, Inc.
 One Broadway,
6th Floor
 Cambridge, MA 02142

Attention: Group Manager

			
		  	With a copy by email to:	  	
			
		  	If to Tenant:	  	 Prior to the Commencement Date: At the address set forth in the Lease Summary Sheet.

 
 After the Commencement Date: At the Premises

 
 Email address:

			
		  	With a copy to:	  	                                
			
		  		  	                                
			
		  		  	                                

 Notwithstanding the foregoing, and except in those instances where oral notices are permitted under this Lease, any notice
from Landlord to Tenant regarding ordinary business operations (e.g., exercise of a right of access to the Premises, maintenance activities, invoices, etc.) may also be given by written notice delivered by electronic mail to any person at the
Premises whom Landlord reasonably believes is authorized to receive such notice on behalf of Tenant without copies as specified above. Either party may at any time change the address or specify an additional address for such notices by delivering or
mailing, as aforesaid, to the other party a notice stating the change and setting forth the changed or additional address, provided such changed or additional address is within the United States and is not a post office box. Notices shall be
effective upon the date of receipt or refusal thereof. Any notice given by an attorney on behalf of Landlord shall be considered as given by Landlord and shall be fully effective. Any notice given by an attorney on behalf of Tenant shall be
considered as given by Tenant and shall be fully effective. 

  
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	23.	 MISCELLANEOUS 

23.1 Separability. If any provision of this Lease or portion of such provision or the application thereof to any person or
circumstance is for any reason held invalid or unenforceable, the remainder of this Lease (or the remainder of such provision) and the application thereof to other persons or circumstances shall not be affected thereby. 

23.2 Captions; Interpretation. The captions are inserted only as a matter of convenience and for reference, and in no way define,
limit or describe the scope of this Lease nor the intent of any provisions thereof. The normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this
Lease or any exhibits or amendments hereto. Words of any gender used in this Lease shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, unless the context otherwise requires.
Unless expressly stated otherwise, the use of the word “including” or “include” in this Lease shall be deemed to mean “including without limitation” or
“include without limitation” in each instance. 
 23.3 Broker. Tenant and Landlord each warrants and
represents that it has dealt with no broker in connection with the consummation of this Lease other than CBRE and Jones Lang LaSalle (collectively, “Broker”). Tenant and Landlord each agrees to defend, indemnify and save the
other harmless from and against any Claims arising in breach of its representation and warranty set forth in the immediately preceding sentence. Landlord shall be solely responsible for the payment of any brokerage commissions to Broker in
connection with this Lease. 
 23.4 Entire Agreement. This Lease, Lease Summary Sheet and the Exhibits attached hereto and
incorporated herein contain the entire and only agreement between the parties and any and all statements and representations, written and oral, including previous correspondence and agreements between the parties hereto, are merged herein. Tenant
acknowledges that all representations and statements upon which it relied in executing this Lease are contained herein and that Tenant in no way relied upon any other statements or representations, written or oral. This Lease may not be modified
orally or in any manner other than by written agreement signed by the parties hereto, provided that no amendment or modification may be effected by text message, electronic mail or similar communication. 

23.5 Governing Law; Personal Jurisdiction. This Lease is made pursuant to, and shall be governed by, and construed in accordance
with, the laws of the Commonwealth of Massachusetts and any applicable local municipal rules, regulations, by-laws, ordinances and the like. Any litigation relating to this Lease shall be brought in the state
or federal courts in the Commonwealth of Massachusetts, and each party consents to personal jurisdiction in such courts. 
 23.6
Tenant Representations. Tenant hereby guarantees, warrants and represents to Landlord that (i) Tenant is duly incorporated or otherwise established or formed and validly existing under the laws of its state of incorporation,
establishment or formation, (ii) Tenant has and is duly qualified to do business in the state in which the Property is located, (iii) Tenant has full corporate, partnership, trust, limited liability company or other appropriate power and
authority to enter into this Lease and to perform all of Tenant’s obligations hereunder, (iv) each person (and all of the persons if more than one signs) signing this Lease on behalf of Tenant is duly and validly authorized to do so; and
(v) neither the execution, delivery or performance of this Lease, nor the consummation of the transactions contemplated hereby, will violate or conflict with any provision of documents or instruments under which Tenant is constituted or to which
Tenant is a party. 

  
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 23.7 Expenses Incurred by Landlord Upon Tenant Requests. Tenant shall, upon
demand, reimburse Landlord for all reasonable expenses, including legal fees, incurred by Landlord in connection with all requests by Tenant for consents, approvals or execution of collateral documentation related to this Lease, including costs
incurred by Landlord in the review and approval of Tenant’s plans and specifications in connection with proposed Alterations to be made by Tenant to the Premises or in connection with requests by Tenant for Landlord’s consent to make a
Transfer. Such costs shall be deemed to be additional rent under this Lease. 
 23.8 Survival. Without limiting any other
obligation of Tenant which may survive the expiration or prior termination of the Term, all obligations on the part of Tenant to indemnify, defend, or hold Landlord harmless, as set forth in this Lease (including
Section 12.2) shall survive the expiration or prior termination of the Term. 
 23.9 Limitation of
Liability. Tenant shall neither assert nor seek to enforce any claim against Landlord or any of the Landlord Parties, or the assets of any of the Landlord Parties, for breach of this Lease or otherwise, other than against Landlord’s
interest in the Property, and Tenant agrees to look solely to such interest for the satisfaction of any liability of Landlord under this Lease. This Section 23.9 shall not limit any right that Tenant might otherwise have to
obtain injunctive relief against Landlord. Landlord and Tenant specifically agree that in no event shall any officer, director, manager, member, trustee, employee or representative of Landlord or any of the other Landlord Parties ever be personally
liable for any obligation under this Lease, nor shall Landlord or any of the other Landlord Parties be liable for consequential, incidental or punitive damages or for lost profits whatsoever in connection with this Lease. 

23.10 Binding Effect. The covenants, agreements, terms, provisions and conditions of this Lease shall bind and benefit the
successors and assigns of the parties hereto with the same effect as if mentioned in each instance where a party hereto is named or referred to, except that no violation of the provisions of Article 11 hereof shall operate to vest any rights
in any successor or assignee of Tenant. A facsimile, PDF or other electronic signature on this Lease shall be equivalent to, and have the same force and effect as, an original signature. 

23.11 Landlord Obligations upon Transfer. Upon any sale, transfer or other disposition of the Building, Landlord shall be
entirely relieved from the performance and observance accruing thereafter of all covenants and obligations hereunder on the part of Landlord to be performed and observed, it being understood and agreed in such event (and it shall be deemed and
construed as a covenant running with the land) that the person succeeding to Landlord’s ownership of said reversionary interest shall thereupon and thereafter assume, and perform and observe, any and all of such covenants and obligations of
Landlord, except as otherwise agreed in writing. 
 23.12 Grants of Interest. Tenant shall not grant any security interest
whatsoever in any fixtures within the Premises without the consent of Landlord. Tenant shall notify Landlord within ten (10) business days after the filing of any UCC statement relating to Tenant’s Property. 

23.13 No Air Rights. No rights to any view or to light or air over any property, whether belonging to Landlord or any other
person, are granted to Tenant by this Lease. If at any time any windows of the Premises are temporarily darkened or the light therefrom is obstructed by reason of any repairs, improvements, maintenance or cleaning in or about the Property, the same
shall be without liability to Landlord and without any reduction or diminution of Tenant’s obligations under this Lease. 

  
 30 

 23.14 Relocation. Landlord, at its expense, at any time after the
completion of the Initial Term, may cause Tenant to relocate from the Premises to space of reasonably comparable size and utility (“Relocation Space”) within the Building upon sixty (60) days’ prior written notice
to Tenant, which notice shall set forth the date by which Tenant must complete such relocation and surrender the prior Premises, as well as a reasonable description of the Relocation Space. From and after the date of the relocation, Base Rent,
Tenant’s Share and Tenant’s Tax Share shall be adjusted based on the rentable square footage of the Relocation Space. If the Relocation Space is on a lower floor in the Building, Landlord shall reduce the then-applicable Base Rent by an
amount that Landlord reasonably and in good faith determines is appropriate to account for the lower floor location of the Relocation Space. Provided there is no Event of Default nor any event which, with the passage of time and/or the giving
of notice would constitute an Event of Default, Landlord shall, within thirty (30) days after receipt of a reasonably detailed invoice, reimburse Tenant for Tenant’s reasonable costs of relocation, including all costs for moving
Tenant’s furniture, equipment, supplies and other personal property, as well as the cost of printing and distributing change of address notices to Tenant’s customers and one month’s supply of stationery showing the new address so long
as such invoice is delivered to Landlord within sixty (60) days after the effective date of such relocation. 
 23.15
Counterparts. This Lease may be executed in two or more counterparts, and by each or either of the parties in separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument. 
 23.16 Financial Information. Tenant shall deliver to Landlord, within one hundred twenty days (120) days
after the end of each fiscal year of Tenant as well as anytime within thirty (30) days after Landlord’s reasonable request, Tenant’s most recently completed balance sheet and related statements of income, shareholder’s equity and
cash flows statements (audited if available) reviewed by an independent certified public accountant and certified by an officer of Tenant as being true and correct in all material respects. Any such financial information may be relied upon by any
actual or potential lessor, purchaser, or mortgagee of the Property or any portion thereof. Tenant’s fiscal year is January 1 to December 31. Tenant may change its fiscal year upon written notice to Landlord. 

23.17 Measurements. Landlord shall have the right, from time to time, to measure the Building and the Premises in accordance with
the then-current Standard Method of Measurement for Office Buildings (ANSI/BOMA) (or if such standard is no longer in use, using an industry-standard method of measurement reasonably selected by Landlord) and to make an appropriate adjustment to
Base Rent, Tenant’s Share and Tenant’s Tax Share. Tenant shall execute an agreement confirming such measurements and adjustments within ten (10) business days after Landlord’s request therefor. Tenant’s failure to execute
and return any such agreement proposed by Landlord, or to provide written objection to the statements contained therein, within ten (10) business days after the date of Tenant’s receipt thereof, shall be deemed an approval by Tenant of
Landlord’s determination of such dates as set forth therein. 
 23.18 OFAC. Tenant warrants and represents to Landlord as
of the date hereof and throughout the Term that it is not owned or controlled, directly or indirectly, by any person or government from countries or other areas that are subject to economic, trade, sectoral, or transactional sanctions imposed by the
United States Government, and that neither Tenant nor any of its owners, directors, officers or group companies appears on any lists of known or suspected terrorists, terrorist organizations or other prohibited persons made publicly available or
published by any agency of the government of the United States or any other jurisdiction in which Tenant is doing business, including but not limited to the List of Specially Designated Nationals and Blocked Persons maintained by the Office of
Foreign Assets Control of the U.S. Department of the Treasury. Tenant shall notify Landlord immediately if these circumstances change. 

  
 31 

 23.19 Confidentiality. Tenant acknowledges and agrees that the terms of this
Lease are confidential. Disclosure of the terms hereof could adversely affect the ability of Landlord to negotiate other leases with respect to the Building and may impair Landlord’s relationship with other tenants of the Building. Tenant
agrees that it and its partners, officers, directors, employees, brokers, and attorneys, if any, shall not disclose the terms and conditions of this Lease to any other person or entity without the prior written consent of Landlord, which may be
given or withheld by Landlord, in Landlord’s sole discretion, except as required for financial disclosures or securities filings, as required by the order of any court or public body with authority over Tenant, or in connection with any
litigation between Landlord and Tenant with respect to this Lease. It is understood and agreed that damages alone would be an inadequate remedy for the breach of this provision by Tenant, and Landlord shall also have the right to seek specific
performance of this provision and to seek injunctive relief to prevent its breach or continued breach. 
 23.20 Security.
Landlord reserves the right, but not the obligation, to install security and other monitoring devices in and around the Building, including devices that monitor the usage of the Common Areas. Tenant acknowledges that security devices and services,
if any, while intended to deter crime, may not in given instances prevent theft or other criminal acts. Landlord shall not be liable for injuries or losses caused by criminal acts of third parties, and Tenant assumes the risk that any security
device or service may malfunction or otherwise be circumvented by a criminal. If Tenant desires protection against such criminal acts, then Tenant shall, at Tenant’s sole cost and expense, obtain appropriate insurance coverage. Tenant’s
security programs and equipment for the Premises shall be coordinated with Landlord and subject to Landlord’s reasonable approval. 

23.21 Time. Time is of the essence as to the performance of Tenant’s obligations under this Lease. Except as expressly set
forth herein, any time period which ends on a non-business day shall be extended to the first subsequent business day. 

23.22 WAIVER OF JURY TRIAL. TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY
DISPUTE, WHETHER IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO. 

23.23 Bankruptcy. In the event a debtor, trustee or debtor in possession under the Bankruptcy Code, or another person with
similar rights, duties and powers under any other Legal Requirements, proposes to cure any Tenant default under this Lease or to assume or assign Tenant’s interest under this Lease, and is obliged to provide adequate assurance to Landlord that
(a) a default shall be cured, (b) Landlord shall be compensated for its damages arising from any breach of this Lease, and (c) future performance of Tenant’s obligations under this Lease shall occur, then such adequate assurances
shall include any or all of the following, as designated by Landlord in its sole and absolute discretion: (i) those acts specified in the Bankruptcy Code or other Legal Requirements as included within the meaning of “adequate
assurance,” even of this Lease does not concern a shopping center or other facility described in such Legal Requirements; (ii) a prompt cash payment to compensate Landlord for any monetary defaults or actual damages arising
directly from a breach of this Lease; (iii) a cash deposit in an amount at least equal to the then-current amount of the Letter of Credit; or (iv) the assumption or assignment of all of Tenant’s interest and obligations under this
Lease. 

  
 32 

 23.24 Not Binding Until Executed. This Lease shall have no binding force or
effect, shall not constitute an offer or an option for the leasing of the Premises, nor confer any right or impose any obligations upon either party until execution and delivery of this Lease by both parties. 

[SIGNATURES ON FOLLOWING PAGE] 

  
 33 

 EXECUTED under seal as of the Execution Date. 

 

					
	LANDLORD:	 	 MIT 139 MAIN STREET LEASEHOLD LLC, a Massachusetts limited liability company

 
 By: MIT CAMBRIDGE REAL ESTATE LLC, its manager

			
		 	By:	 	 /s/ Seth D. Alexander

		 	Name: Seth D. Alexander
		 	Title: President, and not individually
		
	TENANT:	 	STOKE THERAPEUTICS, INC., a Delaware corporation
			
		 	By:	 	 /s/ Edward M. Kaye MD

		 	Name:	 	Edward M. Kaye MD
		 	Title:	 	CEO

 EXHIBIT 1 

LEGAL DESCRIPTION 
 A certain parcel of land
situated and now numbered 137 to 145 Main Street in Cambridge, Middlesex County, Massachusetts, being the premises shown as Lot A on a plan entitled “Plan of Premises in Cambridge, Massachusetts, W.A. Mason & Son Co., Surveyors,
September 13, 1926, Changes October 30, 1926”, recorded in Plan Book 385, Plan 49, said premises being bounded and described according to said plan as follows: 
  

			
	SOUTHERLY	  	on the Northerly side of said Main Street, ninety (90) feet;
		
	WESTERLY	  	on land now or formerly of W.R. Mason et al, one hundred four and 07/100 (104.07) feet;
		
	NORTHERLY	  	by Lot B as shown on said plan, ninety and 01/100 (90.01) feet; and
		
	EASTERLY	  	on land now or formerly of heirs of Mrs. Brooks, one hundred five and 66/100 (105.66) feet.

  
 EXHIBIT 1, PAGE 1 

 EXHIBIT 2 

LEASE PLAN 
  

 

  
 EXHIBIT 2, PAGE 1 

 EXHIBIT 3 

MEMORIALIZATION OF DATES AGREEMENT 

[                          
  ] 
 Stoke Therapeutics, Inc. 
 3 Preston Court 

Suite 102 
 [Attn:
                                         
               ] 
 Re: Lease dated
                     ([as amended,] the “Lease”) by and between MIT 139 Main Street Leasehold LLC (“Landlord”), and Stoke
Therapeutics, Inc. (“Tenant”) with respect to 2,485 rentable square feet on the fourth (4th) floor of the Building located at 139 Main Street, Cambridge, Massachusetts 

Dear                     : 

In accordance with the terms and conditions of the Lease, Tenant accepts possession of the Premises and acknowledges: 

1. The Commencement Date is                     . 

2. The Expiration Date is                     . 

This letter is binding upon and shall inure to the benefit of Landlord and Tenant and their respective successors and assigns. 

Please acknowledge the foregoing and your acceptance of possession by signing a copy of this letter in the space provided and returning it to
                    . Tenant’s failure to execute and return this letter, or to provide written objection to the statements contained in this
letter, within ten (10) business days after the date of this letter, shall be deemed an approval by Tenant of the statements contained herein. 

Sincerely, 
 MIT 139 MAIN STREET LEASEHOLD LLC, a Massachusetts
limited liability company 
 By: MIT CAMBRIDGE REAL ESTATE LLC, its manager 
  

			
	By:	 	  

		 	Name:
		 	Title:

 Acknowledged and Accepted: 

STOKE THERAPEUTICS, INC., a Delaware corporation 
  

			
	By:	 	  

	Name:	 	
	Title:	 	

 DATE:
                                         
   , 20         

  
 EXHIBIT 3, PAGE 1 

 EXHIBIT 4 

[INTENTIONALLY OMITTED] 

  
 EXHIBIT 4, PAGE 1 

 EXHIBIT 5 

WORK LETTER 
 Landlord’s
Work consists of (i) the work described as Landlord’s responsibilities on the Landlord/Tenant Responsibilities Matrix attached hereto as Exhibit 5A and (ii) the work identified on the Landlord’s Work Plans attached hereto
as Exhibit 5B. Landlord’s Work shall be deemed “Substantially Complete” on the date (A) that Landlord’s Work is substantially completed (as certified in writing by Landlord’s architect) in
accordance with (i) the Landlord/Tenant Responsibilities Matrix and (ii) the Landlord’s Work Plans, except for punchlist items, the incompleteness of which does not materially interfere with Tenant’s ability to use or occupy the
Premises for the Permitted Uses, and (B) Landlord has obtained either a completed or “signed off” building permit or temporary or permanent certificate of occupancy for the Premises from the Inspectional Services Department of the
City of Cambridge; provided, however, to the extent Landlord is delayed in performing Landlord’s Work and/or obtaining such building permit sign off or certificate of occupancy because of the acts or omissions of Tenant or any employee,
contractor, agent or representative of Tenant (which omissions may include Tenant’s failure to install its furniture and/or perform any Alterations not included in Landlord’s Work), then for purposes only of calculating the Commencement
Date, Landlord’s Work will be deemed to have been substantially complete on the date on which the building permit sign off or certificate of occupancy (temporary or permanent) would have been issued but for such delays. 

Tenant, at its sole cost and expense, shall be responsible for all items on the Landlord/Tenant Responsibilities Matrix identified as
Tenant’s responsibility, including procuring and installing all trade fixtures, furniture and equipment Tenant may require to operate its business in the Premises and all telecommunications cabling and wiring. Tenant may select Premises’
paint color from Landlord’s building standard selection. 
 Upon Landlord’s Work being Substantially Complete, and without
limiting Landlord’s rights under Section 23.18, Landlord may ask its architect to re-measure the Premises and/or the Building in accordance with
Section 23.18 and make the appropriate adjustments to Base Rent, Tenant’s Share and Tenant’s Tax Share, and Tenant shall execute and deliver to Landlord the agreement required thereby confirming such adjustments.

  
 EXHIBIT 5, PAGE 1 

 EXHIBIT 5A 

LANDLORD/TENANT RESPONSIBILITIES MATRIX 

  
 EXHIBIT 5A, PAGE 1 

					
	

	  		  	October 15, 2018
	  	139 Main Street, Cambridge MA	  	
	  	Allocation of Responsibility between Landlord and Tenant	  	

  

							
	DESCRIPTION	  	 BY LANDLORD
	  	 Tl Work BY
LANDLORD
	  	 TENANT COST/
RESPONSIBILIY

	
	GENERAL
				
	 Newly renovated Cambridge Historic Landmark building
	  	X	  		  	
				
	 All construction for core & shell building upgrades compliant with Massachusetts State Building Code, 9th Edition
and International Energy Code 2015
	  	X	  		  	
				
	 Core & shell improvements to be LEED Version 4 Certified project
	  	X	  		  	
				
	 On site covered parking area
	  	X	  		  	
	
	SITE WORK
				
	 Sidewalks, landscaping, parking
	  	X	  		  	
	
	BUILDING ENVELOPE
				
	 Brick facade with cementitious stucco at the Floor 5.
	  	X	  		  	
			
	 Existing windows to replaced with new energy efficient operable windows.
	  	X	  	
	
	ROOFING
				
	 EPDM roofing system
	  	X	  		  	
				
	 Any rooftop tenant equipment and associated dunnage, penetrations and walkway pads, subject to Landlord
approval
	  		  		  	X
	
	STRUCTURE
				
	 Ground floor Office Tenants: Wood framed floor with allowable live load of 50 psf plus 20 psf partition
load.
	  	 X
	  		  	
				
	 Lvl 2 - 5 Office Tenants: Steel girders and wood-framed floor with allowable live load of 50 psf plus 20 psf
partition load
	  	X	  		  	
				
	 Structural upgrades, openings, bearing wall modifications, or other structural changes to the Base Building to
accommodate specific tenant requirements, subject to Landlord approval
	  		  		  	X
				
	 Floor-to-floor height: Varies by floor from ll’-3” ft to 12’-3”
	  	X	  		  	
				
	 Fire ratings per building code
	  	X	  		  	
				
	 Fire ratings per building code for all work associated with standard tenant fit outs
	  		  	X	  	

  
 Page 1 of 6 

  

					
	

	  		  	October 15, 2018
	  	139 Main Street, Cambridge MA	  	
	  	Allocation of Responsibility between Landlord and Tenant	  	

  

							
	DESCRIPTION	  	 BY LANDLORD
	  	 Tl Work BY
LANDLORD
	  	 TENANT COST/
RESPONSIBILIY

				
	 Fire ratings per building code for all work associated with specific tenant modifications beyond standard tenant fit
out, subject to Landlord approval
	  		  		  	X
	
	 COMMON AREAS

				
	 Main lobby including common area signage/directory, finishes, and accent lighting
	  	X	  		  	
				
	 Main electrical service room, main tele/data room and fire pump room, including finishes
	  	X	  		  	
				
	 Ground level trash and recycling areas
	  	X	  		  	
				
	 Ground floor shower rooms with new building standard finishes similar to upper floor toilet rooms (see below)
	  	X	  		  	
				
	 Ground floor toilet rooms with new building standard finishes similar to upper floor toilet rooms (see below)
	  	X	  		  	
				
	 Toilet rooms on upper floors, complete with tile finishes, plumbing fixtures, toilet partitions, toilet accessories,
sinks with mirror above, ceiling, lighting and paint. A separate accessible toilet room on each upper floor with similar finishes.
	  	X	  		  	
				
	 Electric closet and tel/data closet serving each upper floor.
	  	X	  		  	
				
	 Janitor closet serving each upper floor.
	  	X	  		  	
				
	 Elevator lobbies and common corridors finished to building standards.
	  	X	  		  	
				
	 Shared meeting spaces / conference rooms at all floors fit out with AV provisions on each floor finished to building
standard
	  		  	X	  	
				
	 Open kitchenette on each floor with sink, refridgerator, microwave, filtered water station, dishwasher, coffee
maker
	  		  	X	  	
				
	 Finished exit stairs
	  	X	  		  	
				
	 Roof Terrace
	  	X	  		  	
	
	 TENANT AREAS

				
	 Glazed tenant entry with card access security
	  		  	X	  	
				
	 Exposed brick feature walls. Painted drywall finish at other walls.
	  		  	X	  	
				
	 Insulation and painted drywall finish at exterior walls.
	  	X	  		  	

  
 Page 2 of 6 

					
	

	  		  	October 15, 2018
	  	139 Main Street, Cambridge MA	  	
	  	Allocation of Responsibility between Landlord and Tenant	  	

  

							
	DESCRIPTION 	  	 BY LANDLORD
	  	 Tl Work BY
LANDLORD
	  	 TENANT COST /
RESPONSIBILIY

				
	 Finished building standard interior window sills
	  	X	  		  	
				
	 Carpet tile throughout with accent, wood flooring at main tenant entries.
	  		  	X	  	
				
	 Acoustically treaded open ceilings with exposed MEP systems and lighting
	  		  	X	  	
				
	 Partitions, ceilings, floorings, painting, other finishes, doors, and all other build out including office / conf room
and closet within tenant spaces as indicated on the construction plans and lease documents as landlord provided.
	  		  	X	  	
				
	 Window treatments to match building standard
	  		  	X	  	
				
	 Configuration changes, additions or modifications to above items.
	  		  		  	X
				
	 Additional private offices, meeting rooms, huddle rooms or other rooms.
	  		  		  	X
	
	 Fixtures, Furnishings and Equipment (FFE)

				
	 FFE within building common and floor common areas including shared conference rooms, meeting areas, kitchenettes and
roof terrace
	  	X	  		  	
				
	 FFE within tenant areas
	  		  		  	X
	
	 SIGNAGE

				
	 Building directory and wayfinding signage
	  	X	  		  	
				
	 Tenant Entry signage / branding (only allowed on tenant entry glass, subject to Landlord approval)
	  		  		  	X
	
	 ELEVATORS

				
	 Newly modernized hydraulic passenger elevator serving all floors, 2,500 lb capacity
	  	X	  		  	
	
	 FIRE PROTECTION

				
	 Sprinkler service including fire department connections.
	  	X	  		  	
				
	 Fire pump and related controls
	  	X	  		  	
				
	 Primary loop with sprinkler heads spaced to meet code.
	  	X	  		  	
				
	 Complete sprinkler system within tenant area to match standard building layout and meets code
	  		  	X	  	
				
	 Fire extinguishers in core areas
	  	X	  		  	
				
	 Fire extinguishers and cabinets in tenant areas
	  		  	X	  	
				
	 Base building fire alarm system
	  	X	  		  	

  
 Page 3 of 6 

					
	

	  		  	October 15, 2018
	  	139 Main Street, Cambridge MA	  	
	  	Allocation of Responsibility between Landlord and Tenant	  	

  

  

							
	 DESCRIPTION
	  	 BY LANDLORD
	  	 Tl Work BY

LANDLORD
	  	 TENANT COST/
RESPONSIBILIY

				
	 Detection and annunciation devices in common areas
	  	X	  		  	
				
	 Detection and annunciation devices in tenant areas
	  		  	X	  	
				
	 Modifications to fire protection and fire alarm systems due to tenant

configuration changes or modifications to tenant areas beyond LL provided

scope, or due to installation of tenant equipment. All components to be

consistent with and compatible with base building system.
	  		  		  	X
				
	PLUMBING	  		  		  	
				
	 Building water service from municipal water system with backflow prevention
	  	X	  		  	
				
	 Waste and vent risers on each floor available for tenant

tie-in including 3” waste and 2” waste and vent connections for tenant use.
	  	X	  		  	
				
	 Domestic cold water supply with 1” capped cold water valve at each floor available for tenant tie-in
	  	X	  		  	
				
	 Base building plumbing, including production and distribution of hot water to common shared toilet rooms and
kitchenettes.
	  	X	  		  	
				
	 Natural gas system to supply base building systems.
	  	X	  		  	
				
	 Distribution of domestic water from Landlord provided riser/ valve, flow meter for domestic water, production of hot
water for tenant use, distribution of waste and vent for tenant use
	  		  		  	X
				
	HVAC	  		  		  	
				
	 HVAC systems infrastructure meeting design standards suitable to office use, supporting 1.2 CFM per square
foot
	  	X	  		  	
				
	 Base building medium pressure supply and low pressure return air distribution system (risers and stubouts from
shafts)
	  	X	  		  	
				
	 VAVs, piping distribution for hot water reheats and supply / return air distribution within building common
areas
	  	X	  		  	
				
	 Hot water riser loop with capped and valved connections at each floor with a total hot water flow of 25 gpm per typical
floor
	  	X	  		  	
				
	 VAVs and supply / return air distribution within tenant areas
	  		  	X	  	
				
	 Piping distribution for the hot water reheats at the VAVs within tenant areas
	  		  	X	  	

  
 Page 4 of 6 

					
	

	  		  	October 15, 2018
	  	139 Main Street, Cambridge MA	  	
	  	Allocation of Responsibility between Landlord and Tenant	  	

  

							
	 DESCRIPTION
	  	 BY LANDLORD
	  	 Tl Work BY

LANDLORD
	  	 TENANT COST/
RESPONSIBILIY

				
	 Building management system serving base building systems
	  	X	  		  	
				
	 Automatic temperature control system in tenant areas connected to building management system
	  		  	X	  	
				
	 Modifications to HVAC systems due to tenant configuration changes or modifications to tenant areas beyond LL provided
scope, or due to installation of tenant equipment. All components to be consistent with and compatible with base building system.
	  		  		  	X
				
	ELECTRICAL	  		  		  	
				
	 Primary electrical service to the building from Eversource
	  	X	  		  	
				
	 Bus duct riser through building core
	  	X	  		  	
				
	 Distribution panel
	  	X	  		  	
				
	 Metering and panels, transformers, receptacles, and lighting in tenant areas
	  		  	X	  	
				
	 Emergency and egress lighting in common areas
	  	X	  		  	
				
	 Emergency and egress lighting in tenant areas
	  		  	X	  	
				
	 Electrical feeds to systems furnishing equipment based on building standard furnishings layout. Please note that the
power feed for furniture will be standard NEMA 5-15R receptacles. Therefore furniture will need to be prewired with standard NEMA 5-15P plugs
	  		  	X	  	
				
	 Modifications to electrical systems due to tenant configuration changes or modifications to tenant area, or due to
installation of tenant equipment. All components to be consistent with and compatible with base building system.
	  		  		  	X
				
	SECURITY	  		  		  	
				
	 Card Access security at exterior doors and elevator access to floors
	  	X	  		  	
				
	 Card Access security at main tenant entry
	  		  	X	  	
				
	 Additional security within tenant space.
	  		  		  	X
				
	TEL/DATA	  		  		  	
				
	 Conduit into building and to demarc room
	  	X	  		  	
				
	 Grounding & bonding of all base building OSP cabling and conduit
	  	X	  		  	
				
	 Circuit protection of any copper pairs entering the building
	  	X	  		  	
				
	 Conduit from demarc room to base of riser closets
	  	X	  		  	

  
 Page 5 of 6 

					
	

	  		  	October 15, 2018
	  	139 Main Street, Cambridge MA	  	
	  	Allocation of Responsibility between Landlord and Tenant	  	

  

							
	 DESCRIPTION
	  	 BY LANDLORD
	  	 Tl Work BY
LANDLORD
	  	 TENANT COST/
RESPONSIBILIY

				
	 Cabling from demarc room to floor IDFs (tel / data closets)
	  	X	  		  	
				
	 Building common unsecured wifi in building common areas
	  	X	  		  	
				
	 Cabling from floor IDFs to tenant server location within tenant space
	  		  	X	  	
				
	 CAT 6A cabling from designated server location within the tenant area: Two cables per fixed workstation / office based
on building sample plans.
	  		  	X	  	
				
	 Additional telephone and data within tenant areas beyond the building standard referenced above
	  		  		  	X
				
	 Specialty power receptacles (ex. L5-30R) for equipment connections
	  		  		  	X
				
	 Audio-visual systems within tenant areas
	  		  		  	X
				
	 Racks, servers, network switches, equipment cabinets etc for within tenant areas including any tenant secure
wifi
	  		  		  	X

  
 Page 6 of 6 

 EXHIBIT 5B 

LANDLORD’S WORK PLAN 
  

 

  
 EXHIBIT 5B, PAGE 1 

 FINISH MATERIAL SCHEDULE 

CEILINGS 
 ACOUSTICAL CEILING PANEL (LEVEL 1 TENANT
ONLY, SPACE BETWEEN JOISTS): 
 - TECTUM FINALE 2” WHITE TWH 

ACOUSTICAL CEILING PANEL: ARMSTRON OPTIMA CONCEALED , WHITE WITH PRELUDE 15/16” SUSPENSION SYSTEMS, 48” X 48”; TENANT OFFICES 

SONASPRAY: 1” WHITE (TYPICAL) 
 PAINT 

P-5 PAINT BENJAMIN MOORE WHITE (TYPICAL) 

P-6 MARKERBOARD WALL PAINT IDEAPAINT CREATE CLEAR TENANT SPACES WHERE INDICATED 

ACOUSTICAL WALL PANELS 
 ACOUSTICAL WALL PANEL
KIREI ECHOPANEL 12MM 551; TENANT PHONE BOOTHS 
 PLASTIC LAMINATE 

PL-03 PLASTIC LAMINATE WILSONART D354-60 DESIGNER WHITE CLOSET SHELVES 

WINDOWS: 
 WINDOW SILLS- PAINTED WOOD (WHITE) 

WALL BASE 

B-5 RUBBER BASE JOHNSONITE TRADITIONAL WALL BASE 20 CHARCOAL 4” HIGH CARPET AT GWB WALLS 

CARPET 

CPT-1 CARPET TILE SHAW CONTRACT EMBELLISH TILE INLAY METAL 71556 24” X 24” TENANT OPEN SPACES 

CPT-2 CARPET TILE SHAW CONTRACT WANDER TILE AIRY 37530 24” X 24” TENANT OFFICES 

WOOD FLOORING 

WF-1 WOOD FLOORING NYDREE WIDE PLANK SERIES PINEAPPLE 7.5” X RANDOM
18”-72” 
 GLAZING: 

GLAZING SYSTEM: LITESPACE BY SPACEWORKS, WITH BLACK ANODIZED FINISH 

  
 EXHIBIT 5B, PAGE 2 

 EXHIBIT 6 

OPERATING COSTS 
 “Operating
Costs” shall mean all costs incurred and expenditures of whatever nature made by Landlord in the operation, management, repair, replacement, maintenance and insurance (including environmental liability insurance and property insurance
on Landlord-supplied leasehold improvements for tenants, but not property insurance on tenants’ equipment) of the Property or allocated to the Property, including all costs of labor (wages, salaries, fringe benefits, etc.) up to and including
the group or portfolio manager, however denominated, any costs for utilities supplied to exterior areas and the Common Areas, and any costs for repair and replacements, cleaning and maintenance of exterior areas and the Common Areas, related
equipment, facilities and appurtenances and HVAC equipment, security services, a management fee paid to Landlord’s property manager, the costs, including a commercially reasonable rental factor, of Landlord’s management office for the
Property (which management office may be located outside the Property and which may serve other properties in addition to the Property (in which event the costs thereof shall be equitable allocated along the properties served by such office)), the
cost of operating any amenities in the Property available to all tenants of the Property and any subsidy provided by Landlord for or with respect to any such amenity, and the costs of any consultants and/or experts engaged to evaluate cost-savings
measures for the Property (including tax and energy conservation consultants). To the extent that a cost included in Operating Costs is also allocable to property other than the Property, such cost shall be equitably allocated to each parcel of
property which benefits from such cost. Operating Costs shall not include Excluded Costs (hereinafter defined). Landlord shall have the right but not the obligation, from time to time, to equitably allocate some or all of the Operating Costs among
different tenants of the Property (for example, and without limiting the generality of the foregoing, based in whole or in part on shared or similar use of particular systems or equipment). 

“Excluded Costs” shall mean (i) any mortgage charges (including interest, principal, points and fees); (ii) brokerage
commissions; (iii) salaries of executives and owners not directly employed in the management/operation of the Property; (iv) the cost of work done by Landlord for a particular tenant; (v) the cost of items which, by generally accepted
accounting principles, would be capitalized on the books of Landlord or are otherwise not properly chargeable against income, except to the extent such capital item is (A) required by any Legal Requirements, (B) reasonably projected to
reduce Operating Costs, or (C) reasonably expected to improve the management, security and/or operation of the Building; (vi) the costs of any contributions made by Landlord to any tenant of the Property in connection with the build-out of its premises; (vii) franchise or income taxes imposed on Landlord; (viii) costs paid directly by individual tenants to suppliers, including tenant electricity, telephone and other utility
costs; (ix) increases in premiums for insurance when such increase is caused by the use of the Property by Landlord or any other tenant of the Property; (x) maintenance and repair of capital items not a part of, or used in connection with,
the Property; (xi) depreciation of the Property; (xii) costs relating to maintaining Landlord’s existence as a corporation, partnership or other entity; (xiii) advertising and other fees and costs incurred in procuring tenants;
(xiv) the cost of any items for which Landlord is actually reimbursed by insurance, condemnation awards, refund, rebate or otherwise, and any expenses for repairs or maintenance to the extent covered by warranties, guaranties and service
contracts; and (xv) costs incurred in connection with any disputes between Landlord and its employees, between Landlord and Building management, or between Landlord and other tenants or occupants. 

  
 EXHIBIT 6, PAGE 1 

 EXHIBIT 7 

TAXES 

“Taxes” shall mean the real estate taxes and other taxes, levies and assessments imposed upon the Property, and upon
any personal property of Landlord used in the operation thereof, or on Landlord’s interest therein or such personal property or reasonably allocated thereto (provided that to the extent the Property is not a separate tax parcel, such amounts
shall be allocated among the buildings located on the tax parcel of which the Property is a part and shall be based on the assessor’s records or, if the records do not provide a separate allocation, based on square footage of the buildings in
question unless Landlord reasonably determines that such allocation should be made on another basis); charges, fees and assessments for transit, housing, police, fire or other services or purported benefits to the Property (including any community
preservation assessments); service or user payments in lieu of taxes; and any and all other taxes, levies, betterments, assessments and charges arising from the ownership, leasing, operation, use or occupancy of the Property or based upon rentals
derived therefrom, which are or shall be imposed by federal, state, county, municipal or other governmental authorities. If any such Tax is levied or assessed directly against Tenant, then Tenant shall be responsible for and shall pay the same at
such times and in such manner as the taxing authority shall require. From and after substantial completion of any occupiable improvements constructed as part of a Future Development, if such improvements are not separately assessed, Landlord shall
reasonably allocate Taxes between the Building and such improvements and the land area associated with the same. Taxes shall not include any inheritance, estate, succession, gift, franchise, rental, income or profit tax, capital stock tax, capital
levy or excise, or any income taxes arising out of or related to the ownership and operation of the Property, provided, however, that any of the same and any other tax, excise, fee, levy, charge or assessment, however described, that may in the
future be levied or assessed as a substitute for or in addition to, in whole or in part, any tax, levy or assessment which would otherwise constitute Taxes, whether or not now customary or in the contemplation of the parties on the Execution Date of
this Lease, shall constitute Taxes, but only to the extent calculated as if the Property were the only real estate owned by Landlord.    “Taxes” shall also include reasonable expenses (including legal and
consultant fees) of tax abatement or other proceedings contesting assessments or levies. Tenant shall pay, prior to delinquency, any and all Taxes levied or assessed against any personal property or trade fixtures placed by Tenant in the Premises,
whether levied or assessed against Landlord or Tenant. If any Taxes on Tenant’s personal property or trade fixtures are levied against Landlord or Landlord’s property, or if the assessed valuation of the Project is increased by a value
attributable to improvements in or alterations to the Premises made by Tenant, whether owned by Landlord or Tenant and whether or not affixed to the real property so as to become a part thereof, higher than the base valuation on which Landlord from time-to-time allocates Taxes to all tenants in the Project, Landlord shall have the right, but not the obligation, to pay such Taxes. The amount of any such payment by
Landlord shall constitute additional rent due from Tenant to Landlord within thirty (30) days of invoice therefor. 
 “Tax
Period” shall be any fiscal/tax period in respect of which Taxes are due and payable to the appropriate governmental taxing authority (i.e., as mandated by the governmental taxing authority), any portion of which period occurs during
the Term of this Lease. 

  
 EXHIBIT 7, PAGE 1 

 EXHIBIT 8 

FORM OF LETTER OF CREDIT 
 IRREVOCABLE STANDBY
LETTER OF CREDIT NUMBER                      

ISSUE DATE:                      

ISSUING BANK:                      

BENEFICIARY:     
 [LANDLORD ENTITY] 

c/o MIT CAMBRIDGE REAL ESTATE LLC 
 238 MAIN STREET, SUITE
200     
 CAMBRIDGE, MA 02142     

APPLICANT: 

AMOUNT:                 US$ (AND 00/100 U.S. DOLLARS) 

EXPIRATION DATE:                     (ONE YEAR FROM
ISSUANCE) 
 LOCATION:     
 DEAR
SIR/MADAM:                 
 WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY
LETTER OF CREDIT NO. SVBSF                 IN YOUR FAVOR AVAILABLE BY YOUR DRAFTS DRAWN ON US AT SIGHT IN THE FORM OF EXHIBIT “A” ATTACHED AND ACCOMPANIED BY
THE FOLLOWING DOCUMENTS: THE ORIGINAL OF THIS LETTER OF CREDIT AND ALL AMENDMENT(S), IF ANY. 
 PARTIAL DRAWS AND MULTIPLE PRESENTATIONS ARE ALLOWED. 

THIS LETTER OF CREDIT SHALL BE AUTOMATICALLY EXTENDED FOR AN ADDITIONAL PERIOD OF ONE YEAR, WITHOUT AMENDMENT, FROM THE PRESENT OR EACH FUTURE EXPIRATION DATE
UNLESS AT LEAST 60 DAYS PRIOR TO THE THEN CURRENT EXPIRATION DATE WE SEND YOU A NOTICE BY REGISTERED MAIL OR OVERNIGHT COURIER SERVICE AT THE ABOVE ADDRESS THAT THIS LETTER OF CREDIT WILL NOT BE EXTENDED BEYOND THE CURRENT EXPIRATION DATE. IN NO
EVENT SHALL THIS LETTER OF CREDIT BE AUTOMATICALLY EXTENDED BEYOND                     . IN THE EVENT OF SUCH NOTICE OF NON-EXTENSION, YOU MAY DRAW HEREUNDER WITH A DRAFT STATED ABOVE AND ACCOMPANIED BY THIS ORIGINAL LETTER OF CREDIT AND AMENDMENT(S), IF ANY. 

THIS LETTER OF CREDIT IS TRANSFERABLE ONE OR MORE TIMES, BUT IN EACH INSTANCE ONLY TO A SINGLE BENEFICIARY AS TRANSFEREE AND ONLY UP TO THE THEN AVAILABLE
AMOUNT, ASSUMING SUCH TRANSFER TO SUCH TRANSFEREE WOULD BE IN COMPLIANCE WITH THEN APPLICABLE LAW AND REGULATION, INCLUDING BUT NOT LIMITED TO THE REGULATIONS OF THE U. S. DEPARTMENT OF TREASURY AND U. S. DEPARTMENT OF COMMERCE. AT THE TIME OF
TRANSFER, THE ORIGINAL LETTER OF CREDIT AND ORIGINAL AMENDMENT(S), IF ANY, MUST BE SURRENDERED TO US AT OUR ADDRESS INDICATED IN THIS LETTER OF CREDIT TOGETHER WITH OUR TRANSFER FORM ATTACHED HERETO AS EXHIBIT “B” DULY EXECUTED. THE
CORRECTNESS OF THE SIGNATURE AND TITLE OF THE PERSON SIGNING THE TRANSFER FORM MUST BE VERIFIED BY BENEFICIARY’S BANK. APPLICANT SHALL PAY OUR TRANSFER FEE OF
1⁄4 OF 1% OF THE TRANSFER AMOUNT (MINIMUM US $250.00) UNDER THIS LETTER OF CREDIT. 

  
 EXHIBIT 8, PAGE 1 

 IF THE ORIGINAL OF THIS STANDBY LETTER OF CREDIT NO.
             IS LOST, STOLEN OR DESTROYED, WE WILL ISSUE YOU A “CERTIFIED TRUE COPY” OF THIS STANDBY LETTER OF CREDIT NO          UPON OUR
RECEIPT OF YOUR INDEMNITY LETTER TO SILICON VALLEY BANK WHICH WILL BE SENT TO YOU UPON OUR RECEIPT OF YOUR WRITTEN REQUEST THAT THIS STANDBY LETTER OF CREDIT NO              IS LOST, STOLEN
OR DESTROYED. IF THE OIRIGNAL OF THIS STANDBY LETTER OF CREDIT NO          IS MUTILATED, WE WILL ISSUE YOU A REPLACEMENT STANDBY LETTER OF CREDIT WITH THE SAME NUMBER, DATE AND TERMS AS THE ORIGINAL UPON OUR
RECEIPT OF THE MUTILATED STANDY LETTER OF CIREDIT. 
 THIS STANDBY LETTER OF CREDIT MAY ALSO BE CANCELLED PRIOR TO ANY PRESENT OR FUTURE EXPIRATION DATE,
UPON RECEIPT BY BANK BY OVERNIGHT COURIER OR REGISTERED MAIL (RETURN RECEIPT REQUESTED) OF THE ORIGINAL STANDBY LETTER OF CREDIT AND ALL AMENDMENTS, IF ANY, FROM BENEFICIARY TOGETHER WITH A STATEMENT SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE
BENEFICIARY ON COMPANY LETTERHEAD STATING THAT THIS STANDBY LETTER OF CREDIT IS NO LONGER REQUIRED AND IS BEING RETURNED FOR CANCELLATION. 
 DRAFT(S) AND
DOCUMENTS MUST INDICATE THE NUMBER AND DATE OF THIS LETTER OF CREDIT. 
 ALL DEMANDS FOR PAYMENT SHALL BE MADE BY PRESENTATION OF THE ORIGINAL APPROPRIATE
DOCUMENTS ON A BUSINESS DAY AT OUR OFFICE (THE “BANK’S OFFICE”) AT: [ADDRESS], ATTENTION: STANDBY LETTER OF CREDIT NEGOTIATION SECTION. 

FACSIMILE PRESENTATIONS ARE PERMITTED. SHOULD BENEFICIARY WISH TO MAKE PRESENTATIONS UNDER THIS LETTER OF CREDIT ENTIRELY BY FACSIMILE TRANSMISSION IT NEED
NOT TRANSMIT THIS LETTER OF CREDIT AND AMENDMENT(S), IF ANY. EACH FACSIMILE TRANSMISSION SHALL BE MADE AT: [TELEPHONE CONTACT NUMBER], ATTENTION: STANDBY LETTER OF CREDIT NEGOTIATION SECTION WITH ORIGINALS TO FOLLOW BY OVERNIGHT COURIER SERVICE;
PROVIDED, HOWEVER, THE BANK WILL DETERMINE HONOR OR DISHONOR ON THE BASIS OF PRESENTATION BY FACSIMILE ALONE, AND WILL NOT EXAMINE THE ORIGINALS. IN ADDITION, ABSENCE OF THE AFORESAID TELEPHONE ADVICE SHALL NOT AFFECT OUR OBLIGATION TO HONOR ANY
DRAW REQUEST. 
 IF DEMAND FOR PAYMENT IS PRESENTED BY 10 AM [INDICATE TIME ZONE] TIME AND CONFORMS TO THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT,
PAYMENT SHALL BE MADE BY BANK TO YOU OF THE AMOUNT SPECIFIED IN IMMEDIATELY AVAILABLE FUNDS NOT LATER THAN THE SECOND FOLLOWING BUSINESS DAY. IF DEMAND FOR PAYMENT IS PRESENTED BY YOU HEREUNDER AFTER THE TIME SPECIFIED ABOVE, AND CONFORMS TO THE
TERMS AD CONDITIONS OF THIS LETTER OF CREDIT, PAYMENT SHALL BE MADE TO YOU OF THE AMOUNT SPECIFIED IN IMMEDIATELY AVAIALBLE FUNDS NO LATER THAN THE THIRD FOLLOWING BUSINESS DAY. 

  
 EXHIBIT 8, PAGE 2 

 WE HEREBY AGREE WITH THE BENEFICIARY THAT DRAFTS DRAWN UNDER AND IN ACCORDANCE WITH THE TERMS AND CONDITIONS
OF THIS LETTER OF CREDIT WILL BE DULY HONORED UPON PRESENTATION TO US ON OR BEFORE THE EXPIRATION DATE OF THIS LETTER OF CREDIT OR ANY AUTOMATICALLY EXTENDED EXPIRATION DATE. 

IF ANY INSTRUCTIONS ACCOMPANYING A DRAWING UNDER THIS LETTER OF CREDIT REQUEST THAT PAYMENT IS TO BE MADE BY TRANSFER TO YOUR ACCOUNT WITH ANOTHER BANK, WE
WILL ONLY EFFECT SUCH PAYMENT BY FED WIRE TO A U.S. REGULATED BANK, AND WE AND/OR SUCH OTHER BANK MAY RELY ON AN ACCOUNT NUMBER SPECIFIED IN SUCH INSTRUCTIONS EVEN IF THE NUMBER IDENTIFIES A PERSON OR ENTITY DIFFERENT FROM THE INTENDED PAYEE. 

THIS LETTER OF CREDIT IS SUBJECT TO THE INTERNATIONAL STANDBY PRACTICES (ISP98), INTERNATIONAL CHAMBER OF COMMERCE, PUBLICATION NO. 590. 

 

					
	                                      
                  	 	            	  	                                      
                  
	AUTHORIZED SIGNATURE	 		  	AUTHORIZED SIGNATURE

 IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER
                     

  
 EXHIBIT 8, PAGE 3 

 EXHIBIT A

  

			
	 DATE:
                                
	  	 REF. NO.
                                    

 AT SIGHT OF THIS DRAFT 

PAY TO THE ORDER OF
                                         
                US$_____________________________________ 
 US
DOLLARS _____________________________________________________________________________________ 
 DRAWN UNDER _____________ BANK, [ADDRESS],
STANDBY 
 LETTER OF CREDIT NUMBER NO. _______________________ DATED ___________________  

 

					
	 TO:
	  	BANK	  	
		  	[ADDRESS]	  	                                   
                             
		  		  	(BENEFICIARY’S NAME)

 ............................................................... 

Authorized Signature 

GUIDELINES TO PREPARE THE DRAFT 
  

	1.	 DATE: ISSUANCE DATE OF DRAFT. 

 

	2.	 REF. NO.: BENEFICIARY’S REFERENCE NUMBER, IF ANY. 

 

	3.	 PAY TO THE ORDER OF: NAME OF BENEFICIARY AS INDICATED IN THE L/C (MAKE SURE BENEFICIARY ENDORSES IT ON THE
REVERSE SIDE). 

  

	4.	 US$: AMOUNT OF DRAWING IN FIGURES. 

 

	5.	 USDOLLARS: AMOUNT OF DRAWING IN WORDS. 

 

	6.	 LETTER OF CREDIT NUMBER: BANK’S STANDBY L/C NUMBER THAT PERTAINS TO THE DRAWING. 

 

	7.	 DATED: ISSUANCE DATE OF THE STANDBY L/C. 

 

	8.	 BENEFICIARY’S NAME: NAME OF BENEFICIARY AS INDICATED IN THE L/C. 

 

	9.	 AUTHORIZED SIGNATURE: SIGNED BY AN AUTHORIZED SIGNER OF BENEFICIARY. 

IF YOU HAVE QUESTIONS RELATED TO THIS STANDBY LETTER OF CREDIT PLEASE CONTACT US AT
                . 
 IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER
                                     

  
 EXHIBIT 8, PAGE 4 

 EXHIBIT B 

TRANSFER FORM 
 DATE:
                                 

TO:
BANK                                         RE:
IRREVOCABLE STANDBY LETTER OF CREDIT 
 [ADDRESS] 

NO.
                                    ISSUED BY 

ATTN: INTERNATIONAL DIVISION.                 

STANDBY LETTERS OF
CREDIT                            L/C AMOUNT:
                                        

 GENTLEMEN: 
 FOR VALUE RECEIVED, THE UNDERSIGNED
BENEFICIARY HEREBY IRREVOCABLY TRANSFERS TO: 
  
  

(NAME OF TRANSFEREE) 
  

 
 (ADDRESS) 

ALL RIGHTS OF THE UNDERSIGNED BENEFICIARY TO DRAW UNDER THE ABOVE LETTER OF CREDIT UP TO ITS AVAILABLE AMOUNT AS SHOWN ABOVE AS OF THE DATE OF THIS TRANSFER.

 BY THIS TRANSFER, ALL RIGHTS OF THE UNDERSIGNED BENEFICIARY IN SUCH LETTER OF CREDIT ARE TRANSFERRED TO THE TRANSFEREE. TRANSFEREE SHALL HAVE THE SOLE
RIGHTS AS BENEFICIARY THEREOF, INCLUDING SOLE RIGHTS RELATING TO ANY AMENDMENTS, WHETHER INCREASES OR EXTENSIONS OR OTHER AMENDMENTS, AND WHETHER NOW EXISTING OR HEREAFTER MADE. ALL AMENDMENTS ARE TO BE ADVISED DIRECTLY TO THE TRANSFEREE WITHOUT
NECESSITY OF ANY CONSENT OF OR NOTICE TO THE UNDERSIGNED BENEFICIARY. 
 THE ORIGINAL OF SUCH LETTER OF CREDIT IS RETURNED HEREWITH, AND WE ASK YOU TO
ENDORSE THE TRANSFER ON THE REVERSE THEREOF, AND FORWARD IT DIRECTLY TO THE TRANSFEREE WITH YOUR CUSTOMARY NOTICE OF TRANSFER. 
  

							
	 SINCERELY,
  

 

(BENEFICIARY’S NAME)
	 	        	 	 SIGNATURE AUTHENTICATED
  

The name(s), title(s), and signature(s) conform to that/those on file with us for the company and the signature(s) is/are authorized to execute this
instrument.
	 	
	 		 		 	
	 		 	  
 (Name of
Bank)
	 	
	  
	 		 	  
	 	
	(SIGNATURE OF BENEFICIARY)	 		 	(Address of Bank)	 	
		 		 	  
	 	
		 		 	(City, State, ZIP Code)	 	
	  
	 		 	  
	 	
	(NAME AND TITLE)	 		 	(Authorized Name and Title)	 	
				
		 		 	  
	 	
		 		 	(Authorized Signature)	 	
		 		 	  
	 	
		 		 	(Telephone number)	 	

  
 EXHIBIT 8, PAGE 5 

 EXHIBIT 9 

LANDLORD’S SERVICES 
  

	1.	 Landlord shall provide cleaning of the Premises and the Common Areas in a manner substantially comparable to
other comparable buildings in the East Cambridge/Kendall Square area. 

  

	2.	 Extermination of all public and tenanted areas of the Building as reasonably necessary. 

 

	3.	 Trash removal in accordance with Section 7.7 of the Lease. Such trash removal shall
not include removal of excessive trash generated when an occupant moves in or out of the Building, when equipment is discarded, when files are purged, or construction related trash and debris. If Landlord’s trash removal company or any
applicable Legal Requirement requires that any substances in the Premises be disposed of separately from ordinary trash, Tenant shall make arrangements at Tenant’s expense for such disposal directly with a qualified and licensed disposal
company approved by Landlord at a lawful disposal site. 

  

	4.	 Snow and ice removal from the sidewalks and driveways appurtenant to the Building as reasonably necessary for
the normal operation of the Building. 

  

	5.	 Staff the Building’s front desk during certain hours as reasonably determined by Landlord.

  

	6.	 Reasonable passenger and freight elevator service. 

 

	7.	 With respect to those Common Areas that consist of conference, fitness or kitchenette facilities,
Landlord’s sole obligation with respect to such Common Areas is to provide only the cleaning of such Common Areas, as identified above, and hot and cold water to those areas served by plumbing, and electricity and HVAC service in accordance
with and subject to Article 7 of this Lease. Notwithstanding anything set forth herein to the contrary, Tenant agrees that Landlord is not providing any scheduling or other services related to the programming or use of such Common Areas.

  
 EXHIBIT 9, PAGE 1 

 EXHIBIT 10 

TENANT’S INSURANCE 
 Tenant shall procure,
pay for and keep in force throughout the Term (and for so long thereafter as Tenant remains in occupancy of the Premises, the following insurance: 

(a) Commercial general liability insurance, on a primary and non-contributory basis, insuring Tenant on
an occurrence basis against all claims and demands for bodily injury (including sickness, disease, and death) or damage to property (including products and completed operations and contractual liability coverage) which may be claimed to have
occurred from and after the time any of the Tenant Parties shall first enter the Premises, of not less than One Million Dollars ($1,000,000) per occurrence, Three Million Dollars ($3,000,000) aggregate, and from time to time thereafter shall be not
less than such higher amounts, if procurable, as may be reasonably required by Landlord. Tenant shall also carry umbrella liability coverage on a follow form basis in an amount of no less than Five Million Dollars ($5,000,000). Such policy shall
also include contractual liability coverage covering Tenant’s liability assumed under this Lease, including Tenant’s indemnification obligations. Such insurance policy(ies) shall name Landlord, Landlord’s managing agent and persons
claiming by, through or under them, if any, as additional insureds. 
 (b) A policy of fire, vandalism, malicious mischief, and extended
coverage (so-called special cause of loss property insurance or its equivalent), on a primary and non-contributory basis, in an amount equal to one hundred percent
(100%) of the replacement cost insuring (i) all items or components of Alterations (collectively, the “Tenant-Insured Improvements”), and (ii) Tenant’s furniture, equipment, fixtures and property of every kind,
nature and description related or arising out of Tenant’s leasehold estate hereunder, which may be in or upon the Premises or the Building (collectively, “Tenant’s Property”). Such insurance shall insure the
interests of both Landlord and Tenant as their respective interests may appear from time to time. 
 (c) A policy of business interruption
insurance throughout the Term sufficient to cover at least twelve (12) months of Rent due hereunder and Tenant’s business losses during such 12-month period. 

(d) Such additional insurance as may be necessary to comply with any Legal Requirements or as may be reasonably required by Landlord. 

(e) During periods when any Alterations are being performed, Tenant shall maintain or cause to be maintained
so-called special cause of loss property insurance or its equivalent and/or Builders Risk Insurance on 100% replacement cost coverage basis, including hard and soft costs coverages. Such insurance shall
protect and insure Landlord, other Landlord Parties, Tenant and Tenant’s contractors, as their interests may appear, against loss or damage by fire, water damage, vandalism and malicious mischief, and such other risks as are customarily covered
by so-called special cause of loss property/ builders risk coverage or its equivalent, and shall otherwise include no less than the coverage terms required for property insurance described above. 

The insurance required pursuant to this Exhibit 10 (collectively, “Tenant’s Insurance Policies”) shall be
effected with insurers approved by Landlord, with a rating of not less than “A-VII” in the current Best’s Insurance Reports, and authorized to do business in the Commonwealth of
Massachusetts under valid and enforceable policies. Tenant’s Insurance Policies shall each provide that it shall not be canceled or modified without at least thirty (30) days’ prior written notice to each insured named therein.
Tenant’s Insurance Policies may include deductibles in an amount no greater than the greater of $25,000. On or 

  
 EXHIBIT 10, PAGE 1 

 
before the date on which any of the Tenant Parties shall first enter the Premises and thereafter not less than fifteen (15) days prior to the expiration date of each expiring policy, Tenant
shall deliver to Landlord binders of Tenant’s Insurance Policies issued by the respective insurers setting forth in full the provisions thereof together with evidence satisfactory to Landlord of the payment of all premiums for such policies. In
the event of any claim, and upon Landlord’s request, Tenant shall deliver to Landlord complete copies of Tenant’s Insurance Policies. Upon request of Landlord, Tenant shall deliver to any Mortgagee copies of the foregoing documents. 

  
 EXHIBIT 10, PAGE 2 

 EXHIBIT 11 

RULES AND REGULATIONS 
  

	1.	 Tenants and their employees, shall not in any way obstruct the sidewalks, halls, stairways, or elevators of the
Building, and shall use the same only as a means of passage to and from their respective offices. Tenants will not place or allow to be placed in the Building corridors or public stairways any waste paper, dust, refuse, or anything whatever. At no
time shall tenants permit their employees to loiter in Common Areas or elsewhere in and about the Building or the Land. 

  

	2.	 No signs, advertisements or notices shall be inscribed, painted or affixed where they can be seen from the
outside the leased premises without prior written consent of Building management. Management reserves the right to prohibit the posting of any sign which it finds reasonably objectionable and to remove any which has already been placed, at the
tenant’s expense. 

  

	3.	 All contractors, contractor’s representatives, and installation technicians performing work in the
Building shall be subject to Landlord’s prior approval which shall not be unreasonably withheld or delayed and shall be required to comply with Landlord’s standard rules, regulations, policies and procedures, as the same may be revised
from time to time. Tenants shall be solely responsible for complying with all applicable laws, codes and ordinances pursuant to which said work shall be performed. 

 

	4.	 All electric and telephone wiring shall be installed as directed by Landlord. No boring or cutting for wires
shall be executed and no new pipes or wires shall be introduced without the prior written consent of Landlord. 

  

	5.	 Tenants shall not install or use any machinery in the demised premises which may cause any noise, jar, or
tremor to the floors or walls, or which by its weight might damage the floors of the Building. 

  

	6.	 The roof terrace may only be used during normal business hours. No music, entertainment or loud noise shall be
permitted on the roof terrace without Landlord’s approval. Tenant may not place any furniture or landscaping on the roof terrace. Tenant shall not cause any projectile to be thrown or dropped from the roof terrace. Landlord may prescribe
additional rules and regulations with respect to the roof terrace in its sole discretion. 

  

	7.	 All furniture, safes, equipment and freight shall be moved into and out of the Building only at certain hours
approved by and under the supervision of Landlord and according to these rules and regulations. All damage to the Building caused by installing or removing any safe, furniture; equipment or other property shall be repaired at the expense of the
Tenant. Landlord will not be responsible for loss or damage to any furniture, equipment or freight from any cause. 

  

	8.	 Corridor doors, when not in use, shall be kept closed. 

 

	9.	 Tenant, Tenant’s agents and employees shall not: play any musical instruments, other than radio and
television; make or permit any improper noises in the Building; interfere with other lessees or those having business with them. 

  

	10.	 No animals, except service animals, shall be brought into or kept in, on or about the Premises.

  

	11.	 The restroom fixtures shall be used only for the purpose for which they were constructed and no rubbish, ashes,
or other substances of any kind shall be thrown into them. Tenant will bear the expense of any damage resulting from misuse. 

  
 EXHIBIT 11, PAGE 1 

	12.	 Tenant shall not place any additional lock or locks on any exterior door in the Premises or Building or on any
door in the Building core within the Premises, including doors providing access to the telephone and electric closets and the slop sink, without Landlord’s prior written consent. A reasonable number of keys to the locks on the doors in the
Premises shall be furnished by Landlord to Tenant at the cost of Tenant, and Tenant shall not have any duplicate keys made. All keys shall be returned to Landlord at the expiration or earlier termination of this Lease. 

 

	13.	 The directory board in the entrance lobby of the Building is provided for the exclusive display of the name and
location of each tenant at the tenant’s expense. Landlord reserves the right to allocate space in the directory and to design style of such identification. 

 

	14.	 Landlord reserves the right to exclude or expel from the Building any persons who, in the judgment of Landlord,
is intoxicated under the influence of liquor or drugs, or shall do any act in violation of the rules and regulations of the Building. 

  

	15.	 Rooms used in common by tenants shall be subject to such regulations as are posted therein.

  

	16.	 Landlord reserves the right to close and keep locked all entrance and exit doors of the Building during the
hours Landlord may deem advisable for the adequate protection of the property. Use of the Building and the leased premises before 8 AM or after 6 PM, or any time during Sundays or legal holidays shall be allowed only to persons with a key/card key
to the premises or guests accompanied by such persons. At these times, all occupants and their guests must sign in at the concierge when entering and exiting the building. Any persons found in the Building after hours without such keys/card keys are
subject to the surveillance of building staff. 

  

	17.	 Landlord shall have the right to prohibit any advertising by any tenant which, in Landlord’s commercially
reasonable opinion, tends to impair the reputation of the Building or its desirability as a Building for offices, and upon written notice from Landlord, such tenant shall refrain from or discontinue such advertising. 

 

	18.	 No tenant will install blinds, shades, awnings, or other form of inside or outside window covering, or window
ventilators or similar devices without the prior consent of Landlord. Tenant will not interfere with or obstruct any perimeter heating, air conditioning or ventilating units. 

 

	19.	 Tenants shall give Landlord prompt notice of any accidents to or defects in water pipes, gas pipes, electric
lights and fixtures, heating apparatus, or any other service equipment. 

  

	20.	 Tenants shall not perform improvements or alterations within the Building or their premises, if the work has
the potential of disturbing the fireproofing which has been applied on the surfaces of structural steel members, without the prior written consent of Landlord. 

 

	21.	 Tenants shall not take any action which would violate Landlord’s labor contracts affecting the Building or
which would cause any work stoppage, picketing, labor disruption or dispute, or any interference with the business of Landlord or any other tenant or occupant of the Building or with the right and privileges of any person lawfully in the Building.
Tenants shall take any actions necessary to resolve any such work stoppage, picketing, labor disruption, dispute or interference and shall have pickets removed and, at the request of Landlord, immediately terminate at any

  
 EXHIBIT 11, PAGE 2 

	 	
time any construction work being performed in the Premises giving rise to such labor problems, until such time as Landlord shall have given its written consent for such work to resume. Tenants
shall have no claim for damages of any nature against Landlord in connection therewith, nor shall the date of the commencement of the Term be extended as a result thereof. 

 

	22.	 The work of cleaning personnel shall not be hindered by tenants after 5:30 PM, and such cleaning work may be
done at any time when the offices are vacant. Windows, doors and fixtures may be cleaned at any time. Tenants shall provide adequate waste and rubbish receptacles necessary to prevent unreasonable hardship to Landlord regarding cleaning service.

  

	23.	 Tenants shall not install, operate or maintain in the Premises or in any other area of the Building, any
electrical equipment which does not bear the U/L (Underwriters Laboratories) seal of approval, or which would overload the electrical system or any part thereof beyond its capacity for proper, efficient and safe operation as determined by Landlord,
taking into consideration the overall electrical system and the present and future requirements therefore in the Building. Tenants shall not furnish any cooling or heating to the Premises, including the use of any electronic or gas heating devices,
without Landlord’s prior written consent. Tenants shall not use more than its proportionate share of telephone lines available to service the Building. 

  

	24.	 Tenants shall not operate or permit to be operated on the Premises any coin or token operated vending machine
or similar device (including telephones, lockers, toilets, scales, amusement devices and machines for sale of beverages food, candy, cigarettes or other goods), except for those vending machines or similar devices which are for the sole and
exclusive use of tenant’s employees, and then only if such operation does not violate the lease of any other lessee of the Building. 

  

	25.	 Bicycles and other vehicles are not permitted inside or on the walkways outside the Building, except in those
areas specifically designated by Landlord for such purposes. Landlord shall provide bicycle racks in the garage. 

  

	26.	 Landlord may from time to time adopt appropriate systems and procedures for the security or safety of the
Building, its occupants, entry and use, or its contents. Tenant, Tenant’s agents, employees, contractors, guests and invitees shall comply with Landlord’s reasonable requirements relative thereto. 

 

	27.	 Tenants shall carry out Tenant’s permitted repair, maintenance, alterations, and improvements in the
Premises only during times agreed to in advance by Landlord and in a manner which will not interfere with the rights of other lessees in the Building. 

  

	28.	 Canvassing, soliciting, and peddling in or about the Building is prohibited. Tenants shall cooperate and use
best efforts to prevent the same. 

  

	29.	 At no time shall Tenants permit or shall Tenant’s agents, employees, contractors, guests, or invitees
smoke in any Common Area of the Building, unless such Common Area has been declared a designated smoking area by Landlord. 

  

	30.	 Tenant shall keep neat and clean, and not leave papers or other personal property, in any shared conference,
kitchen or fitness facilities. 

  
 EXHIBIT 11, PAGE 3 

	31.	 All deliveries to or from the Premises shall be made only at such times, in the areas and through the entrances
and exits designated for such purposes by Landlord. Tenant shall not permit the process of receiving deliveries to or from the Premises outside of said areas or in a manner which may interfere with the use by any other lessee of its premises or of
any Common Areas, any pedestrian use of such area, or any use which is inconsistent with good business practice. 

  
 EXHIBIT 11, PAGE 4 

 EXHIBIT 12 

TENANT’S SIGNAGE 
 Tenant shall have the
right to building standard signage on the lobby directory on the first floor of the Building, directional signage on its floor (both at Landlord cost), and at the main entrance to the Premises (at Tenant’s cost), all subject to Landlord’s
prior written approval. 

  
 EXHIBIT 12, PAGE 1 

 EXHIBIT 13 

FORM OF SNDA FOR MASTER LEASE 

SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT 

THIS SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT (this
“Agreement”) is made and entered into as of the          day of                     ,
201     by and between STOKE THERAPEUTICS, INC., a Delaware corporation with an address of 3 Preston Court, Suite 102, Bedford, MA 01730 (“Subtenant”), MIT 139 MAIN STREET FEE OWNER
LLC, a Massachusetts limited liability company with an address c/o MIT Investment Management Company, One Broadway, Suite 09-200, Cambridge, MA 02142 (“Master Lessor”) and MIT
139 MAIN STREET LEASEHOLD LLC, a Massachusetts limited liability company with an address c/o MIT Investment Management Company, One Broadway, Suite 09-200, Cambridge, MA 02142 (“Master
Tenant”). 
 W I T N E S S E T H 

REFERENCE is hereby made to that certain Master Lease Agreement dated September 29, 2017 by and between Master Lessor, as landlord, and
Master Tenant, as tenant (the “Master Lease”) with respect to the land and improvements thereon commonly known as 139 Main Street, Cambridge, Massachusetts (the “Property”). A notice of lease with
respect to the Master Lease (the “Notice of Master Lease”) was recorded with the Middlesex South Registry of Deeds in Book         , Page     . 

REFERENCE is also hereby made to that certain lease dated
                     by and between Master Tenant, as landlord, and Subtenant, as tenant (the “Sublease”), with respect to a
portion of the Property consisting of approximately 2,485 rentable square feet on the fourth (4th) floor (the “Subleased Premises”) of the building located on the Property;

 WHEREAS, Master Tenant and Subtenant have agreed to subordinate the Sublease to the Master Lease; and 

WHEREAS, subject to the terms and conditions hereinafter set forth, Master Lessor has agreed (a) to recognize the rights of Subtenant
under the Sublease, and (b) not to disturb Subtenant’s use and enjoyment of the Subleased Premises. 
 NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Incorporation of
Recitals; Capitalized Terms. The foregoing recitals are hereby incorporated by reference. All capitalized terms not otherwise defined herein shall have the meanings ascribed to them as set forth in the Master Lease. 

2. Subordination. The Sublease is and at all times shall be subject and subordinate to the Master Lease and all amendments and modifications thereof,
with the same force and effect as if the Sublease had been executed and delivered subsequent to the execution and delivery of the Master Lease and the recording of the Notice of Master Lease. 

3. Subtenant Not To Be Disturbed. So long as Subtenant is not in default (beyond any period given Subtenant by the terms of the Sublease to cure such
default) in the payment of rent or additional rent or of any of the terms, covenants or conditions of the Sublease on Subtenant’s part to be performed, (a) Subtenant’s possession of the Subleased Premises, and its rights and privileges
under the Sublease, 

  
 EXHIBIT 13, PAGE 1 

 including but not limited to any extension or renewal rights, if any, shall not be diminished or interfered
with by Master Lessor, and (b) Master Lessor will not join Subtenant as a party defendant in any action or proceeding terminating Master Tenant’s possession of the Property unless such joinder is necessary to terminate such possession and
then only for such purpose and not for the purpose of terminating the Sublease (and Master Tenant will hold Subtenant harmless from any costs including legal fees associated with such joinder). 

4. Tenant to Attorn to Master Lessor. If the Master Lease is terminated pursuant to the terms thereof, or if Master Tenant rejects the Sublease in the
course of a bankruptcy proceeding, or if Master Lessor shall succeed to the interest of Master Tenant in and to the Sublease in any other manner, then (a) the Sublease shall continue in full force and effect as a direct lease between Master
Lessor and Subtenant (subject to Section 8 below); provided, however, that Master Lessor and its assigns shall not be (i) liable for any misrepresentation, act or omission of Master Tenant, provided, however, that the foregoing shall not
release Master Lessor from liability for any default of its obligations under the Sublease continuing after the date on which Master Lessor succeeds to Master Tenant’s interest thereunder, including without limitation any maintenance
obligations, (ii) subject to any counterclaim, demand or offset which Subtenant may have against Master Tenant; (iii) liable for the return of any security deposit or letter of credit not actually received by Master Lessor and with respect
to which Subtenant agrees to look solely to Master Tenant for refund or reimbursement; (iv) unless delivered by Master Tenant to Master Lessor, bound by any advance payment of rent or additional rent or any other sums made by Subtenant to
Master Tenant, except for rent or additional rent applicable to the then-current month; (v) obligated to cure any defaults under the Sublease of Master Tenant which occurred prior to the termination of the Master Lease, provided, however, that
the foregoing shall not release Master Lessor from liability for any default of its obligations under the Sublease continuing after the date on which Master Lessor succeeds to Master Tenant’s interest thereunder, including without limitation
any maintenance obligations; or (vi) bound by any covenant to undertake, complete or pay for any improvements to the Subleased Premises; and (b) Subtenant shall attorn to Master Lessor as its landlord, said attornment to be effective and
self-operative without the execution of any further instruments. Master Lessor and Subtenant each hereby agrees to execute an instrument in form and substance reasonably acceptable to both parties acknowledging the continuation of the Sublease for
the Subleased Premises as a direct lease for the Subleased Premises on the terms and conditions set forth in this Agreement. In addition, Subtenant shall execute and deliver, upon the request of Master Lessor, an instrument or certificate regarding
the status of the Sublease consisting of statements, if true (and if not true, specifying in what respect), in the case of the Sublease by Subtenant (A) that the Sublease is in full force and effect, (B) the amounts and date through which
rentals have been paid, (C) the commencement date, rent commencement date and duration of the term of the Sublease, (D) that no default, or state of facts, which with the passage of time, or notice, or both, would constitute a default,
exists on the part of either party to the Sublease, and (E) the dates on which payments of additional rent, if any, are due under the Sublease. 
 5.
Sublease Amendments. Master Lessor shall not be bound by any amendment to the Sublease made after the date of this Agreement unless Master Lessor shall have consented thereto in writing. Such consent of Master Lessor may be withheld by Master
Lessor in its sole and absolute discretion if such amendment (a) reduces the rent payable under the Sublease, (b) provides for any expansion rights, (c) extends the term of the Sublease in addition to Subtenant’s current right(s)
to extend the term under the Sublease, if any. Any such amendment made after the date of this Agreement without Master Lessor’s consent shall not be binding on Master Lessor. 

  
 EXHIBIT 13, PAGE 2 

 6. Master Lessor’s Right to Notice and Cure. Subtenant covenants and agrees to:
(a) concurrently give Master Lessor the same default and/or termination notices given to Master Tenant under the Sublease at the following addresses until otherwise specified in writing by Master Lessor: MIT 139 Main Street Fee Owner LLC, c/o
MIT Investment Management Company, One Broadway, Suite 09-200, Cambridge, MA 02142, Attention: Managing Director of Real Estate, with copies to MIT Investment Management Company, One Broadway, Suite 09-200, Cambridge, MA 02142, Attention: Director of Real Estate Legal Services, and Jones Lang LaSalle Americas, Inc., One Broadway, 6th Floor, Cambridge, MA 02142, Attention: Group Manager; (b) provide Master
Lessor with at least ten (10) days plus the number of days (and the same opportunities and rights) as are available to Master Tenant under the Sublease to cure any of Master Tenant’s defaults thereunder; and (c) accept Master
Lessor’s curing of any of Master Tenant’s defaults under the Sublease as performance by Master Tenant thereunder. 
 7. Amendments. This
Agreement may not be waived, changed, or discharged orally, but only by agreement in writing and signed by Master Lessor, Master Tenant and Subtenant, and any oral waiver, change, or discharge of this Agreement or any provisions hereof shall be
without authority and shall be of no force and effect. 
 8. Revisions to Sublease. Notwithstanding anything contained in this Agreement or the
Sublease to the contrary, in the event that the Master Lease is terminated pursuant to the terms thereof, or if Master Tenant rejects the Sublease in the course of a bankruptcy proceeding, (a) as of the date of such termination or rejection,
Master Lessor and Master Lessor’s successors and assigns shall have no liability to Subtenant with respect to any representations and warranties on the part of “Landlord” contained in the Sublease (provided that the foregoing shall in
no event relieve Master Tenant of any liability to Subtenant with respect to such representations and warranties), and (b) Master Lessor shall have no liability or obligations pursuant to the brokerage provision of the Sublease. 

9. Security Deposit. If the Master Lease is terminated pursuant to the terms thereof, or if Master Tenant rejects the Sublease in the course of a
bankruptcy proceeding, then Master Tenant shall deliver to Master Lessor the cash security deposit and/or the original letter of credit (including any amendments thereto) and an executed transfer form in the form required by the issue of such letter
of credit, if any has been delivered by Subtenant to Master Tenant pursuant to the Sublease. In the event that Master Tenant fails to deliver the same, Subtenant shall, at Subtenant’s sole cost and expense, use commercially reasonably efforts
(including, without limitation, the payment of any commercially reasonable fees required by the issuer of any such letter of credit and the execution of such reasonable documents as Master Lessor may deem necessary) in order to (a) cause Master
Tenant to deliver to Master Lessor any cash security deposit, and (b) cause the original letter of credit issued to Master Tenant to be (i) assigned to Master Lessor or (ii) terminated or canceled. Master Tenant hereby consents to
Subtenant’s undertaking the actions described in the immediately preceding sentence and waives any claim Master Tenant may have against Subtenant arising from Subtenant’s compliance with the requirements of this Section 9. If such
letter of credit is so terminated or canceled, Subtenant shall deliver to Master Lessor a new original letter of credit naming Master Lessor as beneficiary and otherwise meeting the requirements set forth in the Sublease. 

10. Relation between Master Lessor and Master Tenant. Notwithstanding anything to the contrary contained herein, if, at the time that Master
Lessor succeeds to the interest of Master Tenant as landlord under the Sublease, Master Tenant controls, is controlled by or is under common control with Master Lessor, then, in such event, Master Lessor agrees that no term, covenant or condition of
this Agreement shall be interpreted or enforced by Master Lessor in any manner that would have the effect of amending 

  
 EXHIBIT 13, PAGE 3 

 or modifying the Sublease, releasing Master Lessor from any obligation under the Sublease or otherwise
reducing the obligations of the landlord thereunder or increasing the obligations of Tenant thereunder (for example, Section 8(a) above and the second sentence of Section 9 shall not be enforced by Master Lessor in such situation). 

11. Miscellaneous. This Agreement shall be deemed to have been executed and delivered within the Commonwealth of Massachusetts, and the rights and
obligations of the parties hereunder shall be construed and enforced in accordance with, and governed by, the laws of the Commonwealth of Massachusetts without regard to the laws governing conflicts of laws. This Agreement will be executed by each
party in recordable form and shall at no expense to Subtenant be recorded by Master Tenant in all places necessary to provide legal notice of this Agreement, Subtenant hereby agreeing to reasonably cooperate with Master Tenant in connection
therewith, including without limitation providing such evidence of authority as is required or customary in connection with such recording. If any term of this Agreement or the application thereof to any person or circumstances shall be invalid and
unenforceable, the remaining provisions of this Agreement, the application or such term to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected. This Agreement is binding upon and shall inure to
the benefit of Master Lessor, Master Tenant and Subtenant, and their respective successors and assigns. Each party has cooperated in the drafting and preparation of this Agreement and, therefore, in any construction to be made of this Agreement, the
same shall not be construed against either party. In the event of litigation relating to this Agreement, the prevailing party shall be entitled to reimbursement from the other party of its reasonable attorneys’ fees and costs. This Agreement
constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements and discussions, and may not be amended, waived, discharged or terminated except by a
written instrument signed by all the parties hereto. This Agreement may be executed in two or more counterparts which, when taken together, shall constitute one and the same original. 

[Signatures on following page] 

  
 EXHIBIT 13, PAGE 4 

 IN WITNESS WHEREOF, the parties hereto have each caused this Agreement to be executed as an
instrument under seal as of the date first above written. 
  

					
	MASTER LESSOR:
	
	MIT 139 MAIN STREET FEE OWNER LLC,
	a Massachusetts limited liability company
	
	By: MIT Cambridge Real Estate LLC, its manager
		
	By:	 	  

		 	Name:
		 	Title:

  

					
	MASTER TENANT:
	
	MIT 139 MAIN STREET LEASEHOLD LLC,
	a Massachusetts limited liability company
	
	By: MIT Cambridge Real Estate LLC, its manager
		
	By:	 	  

		 	Name:
		 	Title:

 SUBTENANT: 
  

			
	STOKE THERAPEUTICS, INC., a Delaware corporation

			
		
	By:	 	  

			
	Name:	 	
	Title:	 	

  
 EXHIBIT 13, PAGE 5 

 COMMONWEALTH OF MASSACHUSETTS 

 

							
	Middlesex, ss.	 		  	                    , 20        	  	

 On this              day of
            , 201         before me, the undersigned notary public, personally appeared
                                        , proved
to me through satisfactory evidence of identification, which was personal knowledge of the identity of the signatory, to be the person whose name is signed on the preceding or attached document and acknowledged to me that he/she signed it
voluntarily for its stated purpose as                                  for MIT Cambridge
Real Estate LLC, as manager of MIT 139 Main Street Fee Owner LLC, a limited liability company. 
  

	
	  

	Notary Public:
	My Commission Expires:

 COMMONWEALTH OF MASSACHUSETTS 
  

							
	                            , ss.	 		 		  	                    , 20        

 On this              day of
                , 201         before me, the undersigned notary public, personally appeared
                    , proved to me through satisfactory evidence of identification, which was personal knowledge of the identity of the signatory, to
be the person whose name is signed on the preceding or attached document and acknowledged to me that he/she signed it voluntarily for its stated purpose as
                                     for MIT Cambridge Real Estate
LLC, as manager of MIT 139 Main Street Leasehold LLC, a limited liability company. 
  

	
	  

	Notary Public:
	My Commission Expires:

  
 EXHIBIT 13, PAGE 6 

 COMMONWEALTH OF MASSACHUSETTS 

 

					
	                        , ss.	 		  	                            ,
20        

 On this              day of
            , 201         before me, the undersigned notary public, personally appeared
                            , proved to me through satisfactory evidence of identification, which was
personal knowledge of the identity of the signatory, to be the person whose name is signed on the preceding or attached document and acknowledged to me that he/she signed it voluntarily for its stated purpose
as                                , for Stoke Therapeutics, Inc., a Delaware corporation.

  
  

	
	  

	Notary Public:
	My Commission Expires:

  
 EXHIBIT 13, PAGE 7 

 MASTER LEASE AGREEMENT 

139 MAIN STREET 
 CAMBRIDGE,
MASSACHUSETTS 
 by and between 

MIT 139 MAIN STREET FEE OWNER LLC, 

as Landlord 
 and 

MIT 139 MAIN STREET LEASEHOLD LLC, 

as Tenant 
 Dated as of
September 29, 2017 

 MASTER LEASE AGREEMENT 

TABLE OF CONTENTS 
  

							
	 Article I. DEFINITIONS
	  	 	1	 
	 1.1
	    	“Abandonment Fee”	  	 	1	 
	 1.2
	    	“Acquisition Date”	  	 	1	 
	 1.3
	    	“Additional Rent”	  	 	1	 
	 1.4
	    	“Affiliate”	  	 	1	 
	 1.5
	    	“Approval Instruments”	  	 	1	 
	 1.6
	    	“Approvals”	  	 	1	 
	 1.7
	    	“Appurtenances”	  	 	1	 
	 1.8
	    	“Appurtenant Grant”	  	 	1	 
	 1.9
	    	“Assignment”	  	 	1	 
	 1.10
	    	“Assignment Notice”	  	 	1	 
	 1.11
	    	“Award”	  	 	1	 
	 1.12
	    	“Bankruptcy Laws”	  	 	1	 
	 1.13
	    	“Base Interest Rate”	  	 	1	 
	 1.14
	    	“Base Rent”	  	 	2	 
	 1.15
	    	“Business Day”	  	 	2	 
	 1.16
	    	“Claims”	  	 	2	 
	 1.17
	    	“Clearing Costs”	  	 	2	 
	 1.18
	    	“Commencement Date”	  	 	2	 
	 1.19
	    	“Contract Assignment”	  	 	2	 
	 1.20
	    	“Decommissioning Closure Report”	  	 	2	 
	 1.21
	    	“Dispute Notice”	  	 	2	 
	 1.22
	    	“Environmental Enforcement Actions”	  	 	2	 
	 1.23
	    	“Event of Default”	  	 	2	 
	 1.24
	    	“Expiration Date”	  	 	2	 
	 1.25
	    	“Fee Mortgage”	  	 	2	 
	 1.26
	    	“Fee Mortgagee”	  	 	2	 
	 1.27
	    	“Final Plans and Specifications”	  	 	2	 
	 1.28
	    	“First Offer Right”	  	 	2	 
	 1.29
	    	“FMV”	  	 	2	 
	 1.30
	    	“Governmental Authorities”	  	 	2	 
	 1.31
	    	“Hazardous Materials”	  	 	2	 
	 1.32
	    	“Improvements”	  	 	3	 
	 1.33
	    	“Insurable Property”	  	 	3	 
	 1.34
	    	“Insurance Proceeds”	  	 	3	 
	 1.35
	    	“Land”	  	 	3	 
	 1.36
	    	“Landlord”	  	 	3	 
	 1.37
	    	“Landlord’s Appraiser”	  	 	3	 
	 1.38
	    	“Landlord’s Award”	  	 	3	 
	 1.39
	    	“Landlord’s Closing Documents”	  	 	3	 
	 1.40
	    	“Landlord’s Purchase Notice”	  	 	3	 
	 1.41
	    	“Landlord’s Statement”	  	 	3	 
	 1.42
	    	“Lease”	  	 	3	 
	 1.43
	    	“Lease Assignment”	  	 	3	 
	 1.44
	    	“Leasehold Mortgage”	  	 	3	 
	 1.45
	    	“Leasehold Mortgagee”	  	 	3	 

  
 i 

							
	 1.46
	    	“Leasehold Mortgage Foreclosure”	  	 	3	 
	 1.47
	    	“Legal Requirements”	  	 	4	 
	 1.48
	    	“Loan Payoff”	  	 	4	 
	 1.49
	    	“material and adverse”	  	 	4	 
	 1.50
	    	“MDPH”	  	 	4	 
	 1.51
	    	“Net Award”	  	 	4	 
	 1.52
	    	“Net Proceeds”	  	 	4	 
	 1.53
	    	“Notice of Leasehold Mortgagee’s Intent to Exercise Remedies”	  	 	4	 
	 1.54
	    	“Notice of Tenant’s Failure to Cure”	  	 	4	 
	 1.55
	    	“Notice of Termination”	  	 	4	 
	 1.56
	    	“Occupant”	  	 	4	 
	 1.57
	    	“Oil”	  	 	4	 
	 1.58
	    	“Partial Taking”	  	 	4	 
	 1.59
	    	“Person”	  	 	4	 
	 1.60
	    	“Permitted Encumbrances”	  	 	4	 
	 1.61
	    	“Permitted Uses”	  	 	4	 
	 1.62
	    	“Pre-Existing Environmental Condition”	  	 	4	 
	 1.63
	    	“Premises”	  	 	5	 
	 1.64
	    	“prevailing party”	  	 	5	 
	 1.65
	    	“Prohibited Tenant”	  	 	5	 
	 1.66
	    	“Prohibited Uses”	  	 	5	 
	 1.67
	    	“Property Information”	  	 	5	 
	 1.68
	    	“Protective Advances”	  	 	5	 
	 1.69
	    	“Purchase Price”	  	 	5	 
	 1.70
	    	“Related Parties”	  	 	5	 
	 1.71
	    	“Rent”	  	 	5	 
	 1.72
	    	“Rent Default”	  	 	5	 
	 1.73
	    	“Reports”	  	 	5	 
	 1.74
	    	“Settlement Statement”	  	 	5	 
	 1.75
	    	“Site Assessments”	  	 	5	 
	 1.76
	    	“Site Reviewers”	  	 	5	 
	 1.77
	    	“Space Leases”	  	 	5	 
	 1.78
	    	“Sublease”	  	 	6	 
	 1.79
	    	“Surrender Plan”	  	 	6	 
	 1.80
	    	“Taking”	  	 	6	 
	 1.81
	    	“Taxes”	  	 	6	 
	 1.82
	    	“Temporary Taking”	  	 	6	 
	 1.83
	    	“Tenant”	  	 	6	 
	 1.84
	    	“Tenant Excluded Transaction”	  	 	6	 
	 1.85
	    	“Tenant Parties”	  	 	6	 
	 1.86
	    	“Tenant’s Appraiser”	  	 	6	 
	 1.87
	    	“Tenant’s Award”	  	 	6	 
	 1.88
	    	“Tenant’s Basis”	  	 	6	 
	 1.89
	    	“Tenant’s Closing Documents”	  	 	6	 
	 1.90
	    	“Tenant’s Interest”	  	 	6	 
	 1.91
	    	“Tenant’s Property”	  	 	6	 
	 1.92
	    	“Tenant’s Statement”	  	 	6	 
	 1.93
	    	“Tenant’s Valuation Notice”	  	 	6	 
	 1.94
	    	“Term”	  	 	6	 
	 1.95
	    	“Third Appraiser”	  	 	6	 
	 1.96
	    	“to Landlord’s knowledge”	  	 	6	 

  
 ii 

							
	 1.97
	    	“Total Taking”	  	 	6	 
	 1.98
	    	“Toxic Substances”	  	 	6	 
	 1.99
	    	“Transfer of Control”	  	 	6	 
	 1.100
	    	“Transferee”	  	 	6	 
	 1.101
	    	“Unleased Space”	  	 	7	 
	 1.102
	    	“Warranties”	  	 	7	 
	 Article II. DEMISE OF PREMISES; CONDITIONS
	  	 	7	 
	 2.1
	    	Demise of Premises	  	 	7	 
	 2.2
	    	Title and Condition of Premises	  	 	7	 
	 2.3
	    	Notice of Lease	  	 	7	 
	 Article III. TERM
	  	 	7	 
	 3.1
	    	Term	  	 	7	 
	 Article IV. RENT AND OTHER CHARGES
	  	 	7	 
	 4.1
	    	Base Rent for Premises	  	 	7	 
	 4.2
	    	Payment of Rent	  	 	8	 
	 4.3
	    	Additional Rent	  	 	8	 
	 4.4
	    	Net Lease	  	 	8	 
	 4.5
	    	Taxes and Other Charges	  	 	8	 
	 4.6
	    	Utilities	  	 	9	 
	 4.7
	    	Permitted Contests	  	 	9	 
	 Article V. USE AND QUIET ENJOYMENT; SURRENDER
	  	 	9	 
	 5.1
	    	Use; Conditions	  	 	9	 
	 5.2
	    	Quiet Enjoyment	  	 	9	 
	 5.3
	    	Compliance with Law	  	 	10	 
	 5.4
	    	Compliance with Contractual Requirements	  	 	10	 
	 5.5
	    	INTENTIONALLY OMITTED	  	 	10	 
	 5.6
	    	Ownership of the Improvements	  	 	10	 
	 5.7
	    	Surrender of Premises	  	 	10	 
	 5.8
	    	Permits and Approvals	  	 	11	 
	 Article VI. RIGHT TO MORTGAGE; PROTECTION OF LEASEHOLD MORTGAGEES
	  	 	12	 
	 6.1
	    	Tenant’s Right to Mortgage	  	 	12	 
	 6.2
	    	Leasehold Mortgagee’s Rights	  	 	12	 
	 6.3
	    	Notices To and From Leasehold Mortgagees	  	 	15	 
	 6.4
	    	New Lease	  	 	15	 
	 6.5
	    	No Subordination of Fee	  	 	15	 
	 6.6
	    	Cooperation with Lenders	  	 	15	 
	 Article VII. MAINTENANCE, REPAIR AND OPERATION
	  	 	16	 
	 7.1
	    	Maintenance and Repair: Operation	  	 	16	 
	 7.2
	    	Inspection by Landlord; Landlord’s Right to Maintain: Indemnification	  	 	16	 
	 7.3
	    	Alterations; Demolition and Reconstruction	  	 	17	 
	 7.4
	    	New Hazardous Materials and Oil; Indemnification	  	 	17	 
	 7.5
	    	Pre-Existing Hazardous Materials and Oil	  	 	18	 
	 Article VIII. INDEMNITY, LIENS AND INSURANCE
	  	 	19	 
	 8.1
	    	Tenant’s Indemnification	  	 	19	 
	 8.2
	    	Landlord’s Indemnification	  	 	20	 
	 8.3
	    	Liens	  	 	20	 
	 8.4
	    	Insurance Requirements	  	 	21	 
	 8.5
	    	Insurance Provisions	  	 	22	 
	 8.6
	    	Waiver of Subrogation	  	 	22	 
	 Article IX. CASUALTY
	  	 	22	 
	 9.1
	    	Collection of Claims	  	 	22	 

  
 iii 

							
	 9.2
	    	Special Account	  	 	22	 
	 9.3
	    	Restoration	  	 	23	 
	 9.4
	    	Commencement and Completion of Restoration	  	 	23	 
	 9.5
	    	Casualty During Last 5 Years of the Term	  	 	23	 
	 9.6
	    	Allocation of Proceeds	  	 	23	 
	 9.7
	    	Tenant’s Responsibilities on Termination	  	 	24	 
	 9.8
	    	Demolition and Debris Removal Insurance	  	 	24	 
	 Article X. CONDEMNATION
	  	 	24	 
	 10.1
	    	A Taking	  	 	24	 
	 10.2
	    	Special Account	  	 	24	 
	 10.3
	    	Total Taking	  	 	25	 
	 10.4
	    	Restoration	  	 	25	 
	 10.5
	    	Temporary Taking	  	 	25	 
	 10.6
	    	Abatement of Rent	  	 	26	 
	 10.7
	    	Demolition and Debris Removal Insurance	  	 	26	 
	 Article XI. DEFAULT; REMEDIES
	  	 	26	 
	 11.1
	    	Events of Default	  	 	26	 
	 11.2
	    	Remedies for Default	  	 	27	 
	 11.3
	    	Termination of Lease for Tenant’s Default	  	 	27	 
	 11.4
	    	Rights Upon Termination	  	 	27	 
	 11.5
	    	Other Remedies	  	 	28	 
	 11.6
	    	Performance by Landlord	  	 	28	 
	 11.7
	    	Legal Costs	  	 	28	 
	 11.8
	    	Remedies Cumulative	  	 	28	 
	 11.9
	    	Waiver as to Surety	  	 	28	 
	 11.10
	    	Force Majeure	  	 	29	 
	 11.11
	    	Landlord Default	  	 	29	 
	 Article XII. TRANSFER AND ASSIGNMENT
	  	 	29	 
	 12.1
	    	Assignment	  	 	29	 
	 12.2
	    	Right of First Offer	  	 	30	 
	 Article XIII. SUBLETTING, ESTOPPEL CERTIFICATES, AND NON-DISTURBANCE AND

ATTORNMENT AGREEMENTS
	  	 	31	 
	 13.1
	    	Subletting	  	 	31	 
	 13.2
	    	Rent and Charges to Occupants	  	 	32	 
	 13.3
	    	Estoppel Certificates	  	 	32	 
	 13.4
	    	Non-Disturbance and Attornment Agreements	  	 	32	 
	 Article XIV. NON-DISCRIMINATION AND
AFFIRMATIVE ACTION
	  	 	33	 
	 14.1
	    	Compliance with Equal Opportunity Laws and Regulations	  	 	33	 
	 14.2
	    	Information and Reports	  	 	33	 
	 14.3
	    	Notices to Occupants, Contractors and Vendors	  	 	33	 
	 Article XV. REPRESENTATIONS AND WARRANTIES; AFFIRMATIVE COVENANTS
	  	 	33	 
	 15.1
	    	Representations and Warranties	  	 	33	 
	 15.2
	    	Maintenance of Business and Existence	  	 	33	 
	 15.3
	    	Conduct of Business	  	 	33	 
	 15.4
	    	Notification of Defaults	  	 	34	 
	 15.5
	    	Notification of Disputes	  	 	34	 
	 15.6
	    	Notification of Attachments	  	 	34	 
	 15.7
	    	Reports	  	 	34	 
	 15.8
	    	Further Assurances	  	 	34	 
	 15.9
	    	Current Information	  	 	34	 
	 15.10
	    	Reimbursement Rights	  	 	34	 

  
 iv 

							
	 15.11
	    	General Tenant Covenant	  	 	34	 
	 15.12
	    	General Landlord Covenant	  	 	34	 
	 15.13
	    	No Material Interference	  	 	35	 
	 Article XVI. MISCELLANEOUS PROVISIONS
	  	 	35	 
	 16.1
	    	Designation of Authorized Representatives	  	 	35	 
	 16.2
	    	No Merger of Title	  	 	35	 
	 16.3
	    	No Waiver	  	 	35	 
	 16.4
	    	No Broker	  	 	36	 
	 16.5
	    	Arbitration	  	 	36	 
	 16.6
	    	Consents and Approvals	  	 	36	 
	 16.7
	    	Time of Essence	  	 	36	 
	 16.8
	    	Due Diligence and Good Faith	  	 	36	 
	 16.9
	    	Survival of Obligations	  	 	37	 
	 16.10
	    	Invalidity of Provisions	  	 	37	 
	 16.11
	    	Binding Effect	  	 	37	 
	 16.12
	    	Pronouns	  	 	37	 
	 16.13
	    	Rights of Others	  	 	37	 
	 16.14
	    	Amendments	  	 	37	 
	 16.15
	    	Captions and Headings	  	 	37	 
	 16.16
	    	Governing Law	  	 	37	 
	 16.17
	    	Limitation of Liability	  	 	37	 
	 Article XVII. NOTICES AND PAYMENTS
	  	 	38	 
	 17.1
	    	Notices, Demands and Other Installments	  	 	38	 
	 Article XVIII. ABANDONMENT
	  	 	39	 
	 18.1
	    	Abandonment during Last 20 Years	  	 	39	 
	 Article XIX. LANDLORD’S RIGHT TO PURCHASE TENANT’S LEASEHOLD
	  	 	39	 
	 19.1
	    	Purchase Option	  	 	39	 
	 19.2
	    	Termination Fee	  	 	41	 
	 19.3
	    	Closing	  	 	41	 

  
 v 

 MASTER LEASE AGREEMENT 

This MASTER LEASE AGREEMENT (this “Lease”) dated as of September 29, 2017 (the “Commencement
Date”) is made by and between MIT 139 MAIN STREET FEE OWNER LLC, a Massachusetts limited liability company with its principal office c/o MIT Investment Management Company, 238 Main Street, Suite 200, Cambridge, Massachusetts 02142, as
landlord (“Landlord”), and MIT 139 MAIN STREET LEASEHOLD LLC, a Massachusetts limited liability company with its principal office c/o MIT Investment Management Company, 238 Main Street, Suite 200, Cambridge, MA 02142, as
tenant (“Tenant”). 
 ARTICLE I. 

DEFINITIONS 
 In this Lease, the
following words shall have the following meanings, respectively: 
 1.1    “Abandonment Fee”
shall have the meaning set forth in Section 18.1. 
 1.2    “Acquisition
Date” shall have the meaning set forth in Section 19.1(c). 

1.3    “Additional Rent” shall mean all amounts due and payable by Tenant to Landlord under this
Lease, other than Base Rent. 
 1.4    “Affiliate” shall mean any Person that is a partner or a
member with or in, or a beneficiary or shareholder of, Tenant, or which directly or indirectly owns or controls Tenant, or any partner, member or beneficiary or shareholder of any Person which directly or indirectly owns or controls Tenant; or any
Person owned or controlled, directly or indirectly, by Tenant or by any of the partners, members, beneficiaries or shareholders of Tenant or under common ownership of any type with Tenant. 

1.5    “Approval Instruments” shall have the meaning set forth in
Section 5.8(b). 
 1.6    “Approvals” shall mean any permits,
approvals, licenses, orders, conditions, decisions, rezonings, transfers of development rights to or from the Premises, actions of any governmental authority, or similar governmental or quasi-governmental rights and privileges allowing or
facilitating any use, operation, construction, reconstruction or maintenance consistent with the terms of this Lease. 

1.7    “Appurtenances” shall mean any and all property or other rights appurtenant to the Land or
relating to the use, occupancy and enjoyment of the Land and/or the Improvements. 
 1.8    “Appurtenant
Grant” shall have the meaning set forth in Section 13.4. 

1.9    “Assignment” shall have the meaning set forth in
Section 19.3(a)(i). 
 1.10    “Assignment Notice” shall have the
meaning set forth in Section 12.2(a). 
 1.11    “Award” shall have
the meaning set forth in Section 10.2. 
 1.12    “Bankruptcy Laws”
shall have the meaning set forth in Section 11.1(d). 
 1.13    “Base Interest
Rate” shall mean                  over
the prime rate of interest of Bank of America, N.A., or its successor, during the respective periods of calculation of such interest hereunder. 

  
 1 

 1.14    “Base Rent” shall mean the components of
Rent which are the fixed annual rental amounts determined in accordance with Section 4.1. 

1.15    “Business Day” shall mean any day which is not a Saturday or Sunday or a public holiday
under the laws of the United States of America or the Commonwealth of Massachusetts. 

1.16    “Claims” shall have the meaning set forth in Section 7.4(c).

 1.17    “Clearing Costs” shall mean the reasonable costs and expenses of removing any
remaining Improvements and restoring the Premises to a safe and cleared and safe condition and at a grade approximately level with abutting land. 

1.18    “Commencement Date” shall have the meaning set forth in the first unnumbered paragraph at
the beginning of this Lease. 
 1.19    “Contract Assignment” shall have the meaning set forth
in Section 19.3. 
 1.20    “Decommissioning Closure Report” shall
have the meaning set forth in Section 5.7(b). 
 1.21    “Dispute
Notice” shall have the meaning set forth in Section 19.1(f). 

1.22    “Environmental Enforcement Actions” shall mean, collectively, all actions or orders
instituted, issued, threatened or required by any Governmental Authority and all claims made or threatened by any Person against Landlord, Tenant or the Premises (or any other Occupant, prior Occupant or prior owner thereof), arising out of or in
connection with any Pre-Existing Environmental Condition or the assessment, monitoring, cleanup, containment, remediation or removal of, or damages caused or alleged to be caused by, any Pre-Existing Environmental Condition. 
 1.23    “Event of
Default” shall mean those events defined in Article XI. 
 1.24    “Expiration
Date” shall mean September 30, 2077. 
 1.25    “Fee Mortgage” shall mean any
mortgage or deed of trust encumbering Landlord’s interest in all or any portion of the Premises hereafter granted by Landlord to any institutional or commercial lender securing any loan from such institutional or commercial lender to Landlord.

 1.26    “Fee Mortgagee” shall mean the holder of any Fee Mortgage. 

1.27    “Final Plans and Specifications” shall mean any and all final plans, drawings and
specifications utilized in the completion of any future Improvements. 
 1.28    “First Offer
Right” shall have the meaning set forth in Section 12.2(a). 

1.29    “FMV” shall have the meaning set forth in Section 19.1(a). 

1.30    “Governmental Authorities” shall mean, collectively, all agencies, authorities, bodies,
boards, commissions, courts, instrumentalities, legislatures, and offices of any nature whatsoever of any government, quasi-government unit or political subdivision, whether with a federal, state, county, district, municipal, city or otherwise and
whether now or hereinafter in existence. 
 1.31    “Hazardous Materials” shall have the meaning
set forth in Section 7.4(d). 

  
 2 

 1.32    “Improvements” shall mean all of the
buildings, outside parking lots and spaces, parking decks, parking garages, driveways, sidewalks, landscaping and all other permanent improvements currently existing on the Land or hereafter constructed thereon. 

1.33    “Insurable Property” shall have the meaning set forth in
Section 8.4. 
 1.34    “Insurance Proceeds” shall have the meaning
set forth in Section 9.2. 
 1.35    “Land” shall mean that certain
parcel of land more particularly described in Exhibit A attached hereto and made a part hereof. 

1.36    “Landlord” shall have the meaning set forth in the first unnumbered paragraph at the
beginning of this Lease. 
 1.37    “Landlord’s Appraiser”
shall have the meaning set forth in Section 19.1(f). 

1.38    “Landlord’s Award” shall have the meaning set forth in
Section 10.2. 
 1.39    “Landlord’s Closing
Documents” shall have the meaning set forth in Section 19.3(a)(i). 

1.40    “Landlord’s Purchase Notice” shall have the meaning set
forth in Section 19.1. 
 1.41    “Landlord’s
Statement” shall have the meaning set forth in Section 19.3(d). 

1.42    “Lease” shall mean this Master Lease Agreement as the same may be amended from time to
time. 
 1.43    “Lease Assignment” shall have the meaning set forth in
Section 19.3(a)(i). 
 1.44    “Leasehold Mortgage” shall have the
meaning set forth in Section 6.1. 
 1.45    “Leasehold Mortgagee”
shall mean the holder of a Leasehold Mortgage. 
 1.46    “Leasehold Mortgage Foreclosure” shall
mean the earlier to occur of the following (i) the transfer of the interest of Tenant in the Premises and to this Lease to any Leasehold Mortgagee or any other Person by reason of (a) an assignment in lieu of foreclosure of any Leasehold
Mortgage, (b) the Leasehold Mortgagee’s exercise of any of its rights and/or remedies under its Leasehold Mortgage, including, without limitation, the exercise of the power of sale under the Leasehold Mortgage or any other foreclosure of
the Leasehold Mortgage, (c) any other proceeding brought to enforce the rights of the holder of any Leasehold Mortgage or (d) any legal process or proceeding (other than any eminent domain proceeding by any Governmental Authority); (ii)
the Leasehold Mortgagee’s exercise of any right of entry and taking possession of the Premises prior to or in lieu of foreclosure of the Leasehold Mortgage; or (iii) the exercise by the Leasehold Mortgagee of its rights to collect rents
from the Occupants pursuant to the Leasehold Mortgage or any other security document executed in connection with the Leasehold Mortgage (provided, however, any requirement by any Leasehold Mortgagee that Tenant deposit any or all of
Tenant’s cash, income or revenue in an escrow or other deposit account, the purpose of which is to create replacement reserves, real estate tax reserves, ground rent reserves or such other such reserves or escrow accounts as are customarily
required by Leasehold Mortgagees to serve as additional security for loans secured by Leasehold Mortgages, shall not be deemed to be an exercise of any right to collect rents for the purposes of the foregoing clause (iii) unless the Leasehold
Mortgagee shall have the right to control and direct, by way of lock box or otherwise, the general use and application of such cash, income and revenue beyond the 

  
 3 

 
funding of the above-referenced required reserves and escrow accounts other than any requirement that expenditures be made in accordance with any approved budget, provided that such approved
budget includes the payment of any and all Base Rent). 
 1.47    “Legal Requirements” shall
mean, collectively, all statutes, ordinances, by-laws, codes, rules, regulations, restrictions, orders, judgments, decrees and injunctions (including, without limitation, all applicable building, health code,
zoning, subdivision, and other land use statutes, ordinances, by-laws, codes, rules and regulations), whether now or hereafter enacted, promulgated or issued by any Governmental Authority affecting the
Premises or the ownership, construction, development, maintenance, management, repair, use, occupancy, possession or operation thereof. 

1.48    “Loan Payoff” shall have the meaning set forth in
Section 19.1(a). 
 1.49    “material and adverse” shall have the
meaning set forth in Section 7.3. 
 1.50    “MDPH” shall have the
meaning set forth in Section 5.7(b). 
 1.51    “Net Award” shall have
the meaning set forth in Section 10.2. 
 1.52    “Net Proceeds” shall
have the meaning set forth in Section 9.6. 
 1.53    “Notice of Leasehold
Mortgagee’s Intent to Exercise Remedies” shall have the meaning set forth in Section 6.2(c). 

1.54    “Notice of Tenant’s Failure to Cure” shall have the
meaning set forth in Section 6.2(b). 
 1.55    “Notice of
Termination” shall have the meaning set forth in Section 19.1. 

1.56    “Occupant” shall mean any sublessee, licensee, concessionaire, franchisee or user of all
or any portion of the Premises under any Sublease whether now existing or hereafter entered into. 

1.57    “Oil” shall have the meaning set forth in Section 7.4(d). 

1.58    “Partial Taking” shall have the meaning set forth in
Section 10.4. 
 1.59    “Person” shall mean any individual,
corporation, limited liability company, general partnership, limited liability partnership, joint venture, stock company or association, company, bank, trust, trust company, land trust, business trust, unincorporated organization, unincorporated
association, Governmental Authority or other entity of any kind or nature. 
 1.60    “Permitted
Encumbrances” shall mean all covenants, restrictions, reservations, liens, conditions, easements and other encumbrances affecting the Premises or any portion thereof (i) as may hereafter be agreed to in writing by Tenant and
Landlord; or (ii) which are caused or arise as a result of the acts or omissions of any of the Tenant Parties; or (iii) which are of record as of the Commencement Date; or (iv) as may be permitted pursuant to the provisions hereof.

 1.61    “Permitted Uses” shall have the meaning set forth in
Section 5.1. Notwithstanding anything to the contrary, Permitted Uses expressly excludes the Prohibited Uses. 

1.62    “Pre-Existing Environmental Condition” shall mean
the presence or release on or before the Commencement Date of any Hazardous Material, Oil or other Toxic Substance at, on, in, under and/or above the Premises. 

  
 4 

 1.63    “Premises” shall mean the Land and all
of the Improvements and the Appurtenances. 
 1.64    “prevailing party” shall have the meaning
set forth in Section 11.7. 
 1.65    “Prohibited Tenant” shall mean
any entity which does not agree in writing to pay real estate taxes attributable to its tenancy. 

1.66    “Prohibited Uses” shall mean (a) residential purposes; (b) a live entertainment
establishment which features live entertainers engaging in sexual conduct or nudity as defined in M.G.L. c. 272, Section 31; (c) any motion picture theater presenting materials characterized by an emphasis on matter depicting sexual
conduct or nudity as so defined; (d) any video store or other retail facility having a material portion of its stock in trade which is distinguished by its emphasis on sexual conduct as so defined; (e) massage parlor, a so-called “head” shop, off-track betting, gambling, gaming or check cashing facility; (f) car wash, automobile repair work or automotive service, automobile
body shop, automobile, boat, trailer or truck leasing or sales, or laundromat; (g) tavern, bar, amusement park, carnival, banquet facility, dance hall, disco, nightclub or other entertainment facility including video game room, pool hall,
arcade, indoor children’s recreational facility or other amusement center; (h) funeral parlor, animal raising or storage, pawn shop, flea market or swap meet, junk yard; (i) drilling for and/or removal of subsurface substances,
dumping, disposal, incineration or reduction of garbage or refuse, other than in enclosed receptacles intended for such purposes; (j) medical, dental, governmental, utility company or employment agency offices; or (k) any use which
constitutes a public or private nuisance or produces objectionable noise or vibration. 
 1.67    “Property
Information” shall have the meaning set forth in Section 19.3. 

1.68    “Protective Advances” shall mean any sums expended by Landlord in accordance with the
terms hereof to cure any default by Tenant (including, without limitation, any amounts expended by Landlord pursuant to Section 7.2, Section 11.6 and/or Section 11.7).

 1.69    “Purchase Price” shall have the meaning set forth in
Section 19.1(a). 
 1.70    “Related Parties” shall have meaning set
forth in Section 8.6. 
 1.71    “Rent” shall mean, collectively, Base
Rent and Additional Rent as more particularly set forth in Article IV. 
 1.72    “Rent
Default” shall mean any failure by Tenant to pay any installment of Rent when due hereunder. 

1.73    “Reports” shall have the meaning set forth in Section 7.1. 

1.74    “Settlement Statement” shall have the meaning set forth in
Section 19.1. 
 1.75    “Site Assessments” shall have the meaning set
forth in Section 7.2(b). 
 1.76    “Site Reviewers” shall have the
meaning set forth in Section 7.2(b). 
 1.77    “Space Leases” shall
have the meaning set forth in Section 19.3(c). 

  
 5 

 1.78    “Sublease” shall mean any sublease,
lease, license agreement, use agreement, tenancy at will agreement, concession agreement or other occupancy arrangement, whether now in existence or subsequently entered into by Tenant, encumbering or affecting any portion of the Premises. 

1.79    “Surrender Plan” shall have the meaning set forth in
Section 5.7(b). 
 1.80    “Taking” shall have the meaning set forth
in Section 10.1. 
 1.81    “Taxes” shall have the meaning set forth
in Section 4.5(a). 
 1.82    “Temporary Taking” shall have the
meaning set forth in Section 10.7. 
 1.83    “Tenant” shall have the
meaning set forth in the first unnumbered paragraph at the beginning of this Lease. 
 1.84    “Tenant
Excluded Transaction” shall have the meaning set forth in Section 12.2(a). 

1.85    “Tenant Parties” shall mean, collectively, Tenant and Tenant’s agents, servants,
employees, consultants, contractors, subcontractors, licensees and/or subtenants. 

1.86    “Tenant’s Appraiser” shall have the meaning set forth in
Section 19.1(f). 
 1.87    “Tenant’s
Award” shall have the meaning set forth in Section 10.2. 

1.88    “Tenant’s Basis” shall have the meaning set forth in
Section 19.1(a). 
 1.89    “Tenant’s Closing
Documents” shall have the meaning set forth in Section 19.3. 

1.90    “Tenant’s Interest” shall have the meaning set forth in
Section 19.1(a). 
 1.91    “Tenant’s
Property” shall mean all furniture, equipment, fixtures, trade fixtures and other personal property belonging to Tenant or any Occupant. 

1.92    “Tenant’s Statement” shall have the meaning set forth in
Section 19.3(e). 
 1.93    “Tenant’s Valuation
Notice” shall have the meaning set forth in Section 19.1(d). 

1.94    “Term” shall have the meaning set forth in Section 3.1. 

1.95    “Third Appraiser” shall have the meaning set forth in
Section 19.1. 
 1.96    “to Landlord’s
knowledge” shall have the meaning set forth in Section 7.5(b). 

1.97    “Total Taking” shall have the meaning set forth in Section 10.3.

 1.98    “Toxic Substances” shall have the meaning set forth in
Section 7.4(d). 
 1.99    “Transfer of Control” shall have the
meaning set forth in Section 12.1. 
 1.100    “Transferee” shall mean
(i) any Leasehold Mortgagee (or its affiliate) who acquires Tenant’s interest in the Premises by virtue of a Leasehold Mortgage Foreclosure and any Person acquiring Tenant’s interest in the Premises from such Leasehold Mortgagee (or
affiliate) after a Leasehold Mortgage 

  
 6 

 
Foreclosure, (ii) the Leasehold Mortgagee in the event that the Leasehold Mortgagee exercises its rights to collect rents from the Occupants pursuant to the Leasehold Mortgage or any other
security document executed in connection with the Leasehold Mortgage and (iii) any Person who holds the tenant’s interest under any new lease executed pursuant to Section 6.4. 

1.101    “Unleased Space” shall have the meaning set forth in
Section 9.4. 
 1.102    “Warranties” shall have the meaning set forth
in Section 19.3(a)(i). 
 ARTICLE II. 

DEMISE OF PREMISES; CONDITIONS 

2.1    Demise of Premises. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises
for the Term upon the terms and conditions specified in this Lease. 
 2.2    Title and Condition of Premises.
The Premises are demised and let subject to (i) all zoning regulations, restrictions, rules and ordinances, building codes and other Legal Requirements now in effect or hereafter adopted by any Governmental Authority having jurisdiction;
(ii) such real estate taxes and municipal betterment assessments as are not yet due and payable on the Commencement Date; and (iii) the Permitted Encumbrances. The Premises are demised and let in an “AS IS, WHERE IS” condition as
of the Commencement Date, with all faults, and without representations or warranties, express or implied, in fact or by law, whatsoever. 

2.3    Notice of Lease. Tenant and Landlord agree to execute a Notice of Lease in a form that is suitable for
recording with the Middlesex South Registry of Deeds and if applicable, filing with the Middlesex South Registry District of the Land Court, and such parties agree to execute said Notice of Lease as of the date of this Lease. Each party shall
provide such evidence of authority as shall be required in connection with such recording and filing. Upon the expiration or earlier termination of this Lease, Landlord shall deliver to Tenant a notice of termination of lease in form and substance
reasonably acceptable to both parties and, unless Tenant has delivered to Landlord written notice that Tenant disputes whether the Lease has been validly terminated, Tenant shall, within thirty (30) days of receipt thereof, time being of the
essence, execute and deliver the same to Landlord for Landlord’s execution and recordation with the Middlesex South Registry of Deeds and/or if applicable, filing with the Middlesex South Registry District of the Land Court. If Tenant fails to
deliver the executed notice of termination of lease as and when required, Tenant hereby appoints Landlord as Tenant’s attorney-in-fact to execute the same, such
appointment being coupled with an interest. 
 ARTICLE III. 

TERM 

3.1    Term. The term of this Lease shall be the period commencing on the Commencement Date, and, unless earlier
terminated pursuant to the terms hereof, ending on the Expiration Date (the “Term”). 
 ARTICLE IV. 

RENT AND OTHER CHARGES 

4.1    Base Rent for Premises. During the Term, Tenant shall pay to Landlord Base Rent in equal monthly
installments in the amounts shown on Exhibit B attached hereto and made a part hereof, in advance and without demand on the first day of each month for and with respect to such month. Unless otherwise expressly provided herein, the payment of
Base Rent shall commence on the Commencement Date, and shall be prorated for any partial months. 

  
 7 

 4.2    Payment of Rent. All Rent shall be paid by Tenant to
Landlord in lawful money of the United States of America at Landlord’s address set forth herein or at such other place or to such other person as Landlord from time to time may designate. 

4.3    Additional Rent. Tenant covenants to pay and discharge, when the same shall become due, as Additional Rent,
all other amounts, liabilities and obligations which Tenant assumes or agrees to pay or discharge pursuant to this Lease, together with every fine, penalty, interest and cost which may be added for non-payment
or late payment thereof in accordance with the provisions of this Lease, including interest for overdue payments of Base Rent at the Base Interest Rate, which interest shall commence the day following the due date of such payment, and, in the event
of any failure by Tenant to pay or discharge any of the foregoing, Landlord shall have all rights, powers and remedies provided herein, by law or otherwise in the case of non-payment of rent. 

4.4    Net Lease. It is understood and agreed by Tenant that this Lease is a triple net lease and the Rent and all
other sums payable hereunder shall be absolutely net to Landlord. Tenant shall be responsible for all taxes, payments in lieu of taxes, assessments, utility charges, liens, insurance, maintenance, repairs and all other costs associated with the
Premises or any portion thereof. Except as otherwise expressly provided herein, Tenant shall pay all sums payable hereunder without notice or demand, and without set-off, abatement, suspension or deduction and
Tenant shall not interpose any counterclaim (other than a mandatory counterclaim which could be waived or barred if not asserted in such proceeding) or defense of whatever nature or description in any proceeding by Landlord for the collection of
money due hereunder, provided, however, that such agreement not to interpose any counterclaim or defense shall not be construed as a waiver of Tenant’s right to assert a counterclaim or defense against any action seeking to terminate
this Lease or as a waiver of Tenant’s right to assert claims against Landlord in any separate action. 

4.5    Taxes and Other Charges. 

(a)    Subject to Section 4.7 hereof, Tenant will pay directly to the applicable
taxing authorities (i) all taxes, assessments, levies, fees, water and sewer rents and charges, general and special, ordinary and extraordinary, foreseen and unforeseen, which are, at any time prior to or during the Term hereof, imposed or
levied upon or assessed against (A) the Premises, (B) any Rent or other sum payable hereunder or (C) this Lease or the leasehold estate hereby created, or which arise in respect of the operation, possession or use of the Premises;
(ii) all gross receipts or similar taxes imposed or levied upon, assessed against or measured by any Rent or other sum payable hereunder; and (iii) all sales, use and similar taxes at any time levied, assessed or payable on account of the
acquisition, leasing or use of the Premises (collectively, the “Taxes”). Any such Taxes, with respect to the Premises for the then current tax period shall be apportioned as of the beginning and the end of the Term, and the
pro rata share thereof shall be paid to Landlord or credited to Tenant, as the case may be. Tenant shall not be required to pay any franchise, inheritance, estate, succession, gift, rental, transfer, income or similar tax of Landlord (other than any
tax referred to in clause (ii) above), unless such Tax is imposed, levied or assessed in substitution for any other tax, assessment, charge or levy which Tenant is required to pay pursuant to this Section 4.5, but only
in an amount calculated as if Landlord owned only the Premises and Landlord’s income consisted only of amounts payable hereunder. Tenant will furnish to Landlord, promptly after demand therefor, proof of payment of all items referred to above
which are payable by Tenant. If any such assessment may legally be paid in installments, Tenant may pay such assessment in installments; in such event, Tenant shall be liable only for installments which are attributable to any period falling, in
whole or in part, within the Term hereof (subject to proration as set forth above as to the beginning and the end of the Term). 

  
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 (b)    Subject to the provisions of
Section 4.7 below, in the event that Tenant fails to pay the Taxes for any fiscal year, or portion thereof, Landlord shall have the right to pay said Taxes, upon thirty (30) days prior written notice to Tenant. In the
event that Landlord pays any outstanding Taxes, Tenant shall pay to Landlord within thirty (30) days of a written request for such payment, any and all sums paid by Landlord to pay such outstanding Taxes. 

4.6    Utilities. Tenant shall obtain and promptly pay directly to the applicable provider all charges for heat,
gas, hot water, electricity, sewage charges and fees, and other utilities and/or services used and/or consumed in, or furnished to, the Premises. Landlord shall have no responsibility or liability for any interruption, curtailment, stoppage, or
suspension of utilities, except to the extent caused by Landlord or its agents or contractors. 
 4.7    Permitted
Contests. Landlord shall not require Tenant, nor shall Landlord have the right, to pay, discharge or remove any tax, assessment, levy, fee, rent, charge, lien or encumbrance, or to comply with any Legal Requirement applicable to the Premises or
the use thereof, so long as Tenant shall in good faith contest the existence, application, amount or validity thereof by appropriate proceedings which shall prevent the collection of or other realization upon the tax, assessment, levy, fee, rent,
charge, lien or encumbrance so contested, and the sale, forfeiture or loss of the Premises or any Rent or any Additional Rent to satisfy the same, and which shall not affect the payment of any Rent provided that such contest shall not subject
Landlord to the risk of any criminal liability or civil penalty. Tenant shall give such reasonable security as may be requested by Landlord to insure payment of such tax, assessment, levy, fee, rent, charge, lien, encumbrance, liability or penalty
and to prevent any sale or forfeiture of the Premises by reason of such nonpayment, and hereby indemnifies Landlord for any such liability or penalty. Upon the completion or termination of any final appeal of any proceeding relating to any amount
contested by Tenant pursuant to this Section 4.7, Tenant shall immediately pay any amount determined in such proceeding to be due, and in the event Tenant fails to make such payment, Landlord shall have the right to make
any such payment on behalf of Tenant and charge Tenant therefor. Notwithstanding any other provision in this Lease, Landlord may make any payment or take such other action as it may reasonably deem necessary in order to prevent the sale or
foreclosure of the Premises. Landlord hereby agrees to cooperate with Tenant and, if such joinder is necessary or desirable based on the nature of the permitted contest, to join in any permitted contest as a party, or, where appropriate, authorize
Tenant to undertake a permitted contest in the name of Landlord. Tenant hereby agrees that if Landlord, at the request of Tenant, joins in any permitted contest, Tenant shall pay any and all reasonable costs incurred by Landlord as a result of
Landlord’s participation in such permitted contests, including, without limitation, reasonable attorneys’ fees. 
 ARTICLE V. 

USE AND QUIET ENJOYMENT; SURRENDER 

5.1    Use; Conditions. Without Landlord’s prior written consent, Tenant covenants, promises and agrees that
during the Term of this Lease it shall not devote the Premises to any uses other than general office use and, to the extent permitted by law (as the same may be varied by special permit, variance or other relief), uses ancillary thereto, including
parking and other ancillary uses (collectively, the “Permitted Uses”); provided, however, in no event shall Tenant use the Premises for the Prohibited Uses. Tenant covenants and agrees to use the Premises in accordance
with any permits which may be issued by the City of Cambridge and to comply with the requirements therein specified. 

5.2    Quiet Enjoyment. If and so long as Tenant shall pay all Rent and other charges herein provided and shall
observe and perform all covenants, agreements and obligations contained herein, 

  
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Landlord warrants peaceful and quiet occupation and enjoyment of the Premises by Tenant as against the claims of all persons lawfully claiming by, through or under Landlord, subject,
nevertheless, to the covenants, terms and conditions of this Lease and Permitted Encumbrances. 
 5.3    Compliance
with Law. Subject to the rights granted to Tenant by Section 4.7, Tenant shall, at its expense, comply with and shall cause the Premises and all Occupants of any portion thereof to comply with all Legal Requirements
affecting the Premises, or any portion thereof, or the use thereof, including those which require the making of any structural, unforeseen or extraordinary changes, whether or not any of the same which may hereafter be enacted involve a change of
policy on the part of the Governmental Authority enacting the same. 
 5.4    Compliance with Contractual
Requirements. Tenant shall, at its expense, comply with and shall cause the Premises and all Occupants of any portion thereof to comply with (a) all matters of record, having priority over this Lease, affecting the title to the Premises or
any portion thereof, and (b) the requirements of all policies of insurance which are carried by Tenant (or by Landlord when permitted by the terms of Sections 11.5 or 11.6 of this Lease) which at any time may be in force with
respect to the Premises or any portion thereof. 
 5.5    INTENTIONALLY OMITTED. 

5.6    Ownership of the Improvements. During the Term, the Improvements shall be owned by Tenant. Upon the
expiration or earlier termination of the Term, all of Tenant’s right, title and interest in and to the Improvements shall automatically be vested in Landlord. In confirmation of the foregoing, Tenant shall, on or before the expiration of the
Term (or within ten (10) Business Days after the earlier termination of the Lease, as the case may be) execute a bill of sale, stating consideration of Ten Dollars, and otherwise in form and substance reasonably acceptable to Landlord and
Tenant, conveying all of Tenant’s right, title and interest in and to the Improvements to Landlord. Tenant’s obligations under this Section 5.6 shall survive the expiration or earlier termination of the Term. 

5.7    Surrender of Premises. 

(a)    At the expiration or earlier termination of the Term of this Lease, Tenant shall peaceably leave,
quit and surrender the Premises in the condition in which the same are required to be maintained hereunder, broom-clean and free of liens, personal property, tenants and occupants. Subject to the rights of any Leasehold Mortgagee as provided in
Article VI, upon such expiration or termination, any and all of Tenant’s Property remaining on the Premises shall become the sole property of Landlord at no cost to Landlord. 

(b)    At least thirty (30) days prior to the expiration of the Term (or, if applicable, within five
(5) Business Days after any earlier termination of this Lease), Tenant shall deliver to Landlord a narrative description of the actions proposed (or required by any Legal Requirements) to be taken by Tenant in order to render the Premises
(including, without limitation, floors, walls, ceilings, counters, piping, supply lines, waste lines and plumbing and all exhaust or other ductwork) free of Hazardous Materials and otherwise released for unrestricted use and occupancy including
without limitation causing the Premises to be decommissioned in accordance with the regulations of the U.S. Nuclear Regulatory Commission and/or the Massachusetts Department of Public Health (the “MDPH”) for the control of
radiation and cause the Premises to be released for unrestricted use by the Radiation Control Program of the MDPH (the “Surrender Plan”). The Surrender Plan shall be prepared so that, following its implementation, all exhaust
and other duct work in the Premises may be reused by a subsequent tenant or disposed of in conformance with all applicable Environmental Laws without incurring special costs on account of any Hazardous Materials or

  
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undertaking special procedures for demolition, disposal, investigation, assessment, cleaning or removal of such Hazardous Materials or needing to give notice in connection with such Hazardous
Materials. The Surrender Plan (i) shall be accompanied by a current list of (A) all local, state and federal licenses, registrations, permits and approvals held by or on behalf of any Occupant with respect to Hazardous Materials in, on,
under, at or about the Premises, and (B) a list of all Hazardous Materials used by Occupants during the Term (and the Occupants that used the same), and (ii) shall be subject to the review and approval of Landlord’s environmental
consultant. In connection with review and approval of the Surrender Plan, upon request of Landlord, Tenant shall deliver to Landlord or its consultant such additional non-proprietary information concerning the
use of and operations within the Premises as Landlord shall request. On or before the expiration of the Term, Tenant shall (i) perform or cause to be performed all actions described in the approved Surrender Plan, and (ii) deliver to
Landlord a certification from a third party certified industrial hygienist reasonably acceptable to Landlord certifying that the Premises do not contain any Hazardous Materials and evidence that the approved Surrender Plan shall have been
satisfactorily completed by a contractor acceptable to Landlord (the “Decommissioning Closure Report”). The Decommissioning Closure Report shall also include reasonable detail concerning the clean up measures taken, the clean
up locations, the tests run, and the analytic results. Landlord shall have the right, subject to reimbursement at Tenant’s expense as set forth below, to cause Landlord’s environmental consultant to inspect the Premises and perform such
additional procedures as may be deemed reasonably necessary to confirm that the Premises are, as of the expiration of the Term (or, if applicable, the date which is thirty (30) days after any earlier termination of this Lease), free of
Hazardous Materials and otherwise available for unrestricted use and occupancy as aforesaid. Landlord shall have the unrestricted right to deliver the Surrender Plan, the Decommissioning Closure Report and any report by Landlord’s environmental
consultant with respect to the surrender of the Premises to third parties. Such third parties and the Landlord Parties shall be entitled to rely on the Decommissioning Closure Report. If Tenant shall fail to prepare a Surrender Plan or submit a
Decommissioning Closure Report based on the Surrender Plan approved by Landlord, or if Tenant shall fail to complete the approved Surrender Plan, or if such Surrender Plan, whether or not approved by Landlord, shall fail to adequately address the
use of Hazardous Materials by any of the Tenant Parties in, on, at, under or about the Premises, Landlord shall have the right to take any such actions as Landlord may deem reasonable or appropriate to assure that the Premises are surrendered in the
condition required hereunder, the cost of which actions shall be reimbursed by Tenant as additional rent upon demand. Tenant’s obligations under this Section 5.7(b) shall survive the expiration or earlier termination
of this Lease. 
 5.8    Permits and Approvals. 

(a)    Tenant shall, at its sole cost and expense, obtain all Approvals required for the leasing,
construction, maintenance, operation and use of the Premises. 
 (b)    Tenant shall be entitled from
time to time to seek and obtain Approvals in order to allow it to change the uses of the Premises, and to construct improvements thereon, so long as the uses are Permitted Uses and the improvements comply with the terms of this Lease. Landlord
agrees, at Tenant’s sole cost, to cooperate with Tenant in connection with obtaining such Approvals, including without limitation by executing applications and such reasonable agreements, documents and instruments deemed necessary or convenient
by Tenant in connection therewith (“Approval Instruments”) provided the same do not (i) create any personal liability or obligation of Landlord, and (ii) require Landlord to participate in litigation against
the City of Cambridge. 
 (c)    Notwithstanding the foregoing, the covenants of Landlord contained in
this Section 5.8 shall not apply to any Prohibited Uses. 

  
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 ARTICLE VI. 

RIGHT TO MORTGAGE; PROTECTION OF LEASEHOLD MORTGAGEES 

6.1    Tenant’s Right to Mortgage. Notwithstanding any other provisions of this Lease, and
without prior approval of Landlord, Tenant shall at all times and from time to time have the right to encumber, pledge or convey all of its leasehold estate in the Premises, and its title and interest in any fixtures and personal property, and all
of its rights under this Lease by way of one or more leasehold mortgages, deeds of trust or other forms of security deed to a lending institution which constitutes from time to time a first or second lien on Tenant’s entire interest in the
Premises (each of the foregoing, a “Leasehold Mortgage”) (and, where appropriate, by grant of a security interest under the Uniform Commercial Code) to secure the payment of any loan or loans obtained by Tenant; provided,
however, that (a) there shall be no more than two (2) Leasehold Mortgages in effect at any given time, and (b) within ten (10) days after the recording of any Leasehold Mortgage, Tenant shall deliver to Landlord a written
notice specifying all prepayment and defeasance terms thereof. In no event shall any Leasehold Mortgagee have any rights in and to, or assert any claims alleging an ownership or security interest in Landlord’s interest in the Premises. 

6.2    Leasehold Mortgagee’s Rights. If Tenant grants a Leasehold Mortgage and the applicable
Leasehold Mortgagee furnishes Landlord with written notice that it holds such Leasehold Mortgage (along with the address to which all notices to be delivered to the Leasehold Mortgagee in accordance with the terms hereof shall be delivered), then,
until such time as Landlord receives notice that such Leasehold Mortgage has been paid in full or otherwise discharged of record, and so long as Leasehold Mortgagee has materially complied with the provisions of this Article VI, the following
provisions shall apply: 
 (a)    There shall be no cancellation, surrender or modification of this Lease
by agreement of Landlord and Tenant, without the prior consent in writing of the Leasehold Mortgagee, which consent may be withheld in the Leasehold Mortgagee’s sole and absolute discretion. 

(b)    Landlord will concurrently deliver to the Leasehold Mortgagee (addressed to the Leasehold Mortgagee
at such address and to the attention of such individual as the Leasehold Mortgagee has provided to Landlord) a copy of any notice or other communication regarding any default hereunder from Landlord to Tenant under this Lease at the time of giving
such notice or communication to Tenant, and no proposed termination of this Lease, or of Tenant’s right to possession of the Premises or any reletting of the Premises by Landlord predicated on the giving of such notice, shall be effective,
unless Landlord provides to the Leasehold Mortgagee written notice, or a copy of its notice to Tenant of such default or termination, and Landlord complies with the other provisions of this Article VI. Upon the expiration of any applicable cure
period provided to Tenant, Landlord will send written notice to the Leasehold Mortgagee of Tenant’s failure to effectuate a cure within said cure period (the “Notice of Tenant’s Failure to Cure”). 

(c)    In the event of any default by Tenant under any of the provisions of this Lease, the Leasehold
Mortgagee will have the right to cure the default during the cure period provided to Tenant for remedying such default or causing it to be remedied, plus, in each case, the Leasehold Mortgagee shall have an additional period after the Leasehold
Mortgagee’s receipt of a Notice of Tenant’s Failure to Cure of (i) thirty (30) days with respect to monetary defaults not cured by Tenant within its applicable cure period, and (ii) sixty (60) days with respect to all other
defaults not cured by Tenant within its applicable cure period, within which additional period the Leasehold Mortgagee may cure such default or exercise its rights under its Leasehold Mortgage in order to effectuate a Leasehold Mortgage Foreclosure
(or such longer time as may be reasonably necessary provided the Leasehold Mortgagee diligently prosecutes the cure to completion or diligently pursues its rights and remedies in order to effectuate a Leasehold Mortgage Foreclosure);
provided 

  
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that, within fifteen (15) Business Days after receipt of the Notice of Tenant’s Failure to Cure, the Leasehold Mortgagee sends to Landlord written notice (a “Notice of
Leasehold Mortgagee’s Intent to Exercise Remedies”) that the Leasehold Mortgagee has elected to (x) cure such default or (y) not cure such default and instead to pursue its rights and remedies in order to effectuate a
Leasehold Mortgage Foreclosure. 
 (d)    In the event Tenant defaults under any of the provisions of
this Lease, regardless whether such default consists of a failure to pay Rent or a failure to do any other thing which Tenant is required to do hereunder, the Leasehold Mortgagee, without prejudice to any of its rights against Tenant, shall have the
right, subject to the provisions of the preceding subsection (c), but not the obligation, to cure such default hereunder within the applicable grace period provided for in the preceding subsection (c), and Landlord shall accept such performance on
the part of the Leasehold Mortgagee as though the same had been performed by Tenant; and for such purpose Landlord and Tenant hereby authorize the Leasehold Mortgagee to enter upon the Premises and to exercise any of Tenant’s rights and powers
under this Lease. 
 (e)    In the case of any Event of Default not capable of cure by the Leasehold
Mortgagee without having possession of the Premises (which in no event shall include any payment default hereunder), as to which the Leasehold Mortgagee has notified Landlord, pursuant to a Notice of Leasehold Mortgagee’s Intent to Exercise
Remedies, that the Leasehold Mortgagee intends to cure such Event of Default, the Leasehold Mortgagee’s cure period shall be suspended during any period in which any exercise of rights and remedies by the Leasehold Mortgagee is enjoined or
stayed and until such time as the interest of Tenant under this Lease is so acquired, provided that, to the extent permissible by law, the Leasehold Mortgagee commences and thereafter diligently pursues a Leasehold Mortgage Foreclosure and,
after taking actual possession of the Premises, (i) commences to cure such default or breach within sixty (60) days thereafter, and (ii) continuously pursues such cure and completes the same as soon as practicable if such default or
breach cannot be cured within such period, but only so long as the Leasehold Mortgagee keeps and performs, or otherwise causes to be kept and performed, all covenants and conditions of this Lease to be kept or performed by Tenant (including the
payment of Rent all other monetary obligations). Leasehold Mortgagee shall provide Landlord with written monthly status reports as to the progress of any pending Leasehold Mortgage Foreclosure until completed. In no event shall Landlord have the
right to terminate this Lease for any Event of Default set forth in this Section 6.2(e) so long as the Leasehold Mortgagee continues to diligently pursue cure of such Events of Default and otherwise complies with the terms
and conditions of this Lease. 
 (f)    In the event that the Leasehold Mortgagee cannot cure an Event of
Default by (i) the payment of money or (ii) exercising commercially reasonable efforts to take any other action (which shall include taking possession of the Premises, if necessary), Landlord may not terminate this Lease for the failure of
the Leasehold Mortgagee to cure such Event of Default. 
 (g)    Landlord agrees that the name of the
Leasehold Mortgagee shall be added as “mortgagee” and “additional insured” with respect to any and all liability insurance policies required to be carried by Landlord, and shall be so added as to any insurance policies carried by
Tenant affecting the Premises. 
 (h)    In the case of any Event of Default with respect to which the
Leasehold Mortgagee has notified Landlord pursuant to a Notice of Leasehold Mortgagee’s Intent to Exercise Remedies that it has elected not to cure such Event of Default, but, instead, has elected to commence to exercise its rights and remedies
in order to effectuate a Leasehold Mortgage Foreclosure, then, (1) Landlord shall not be entitled to terminate this Lease as a consequence of such Event of Default 

  
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provided that the Leasehold Mortgagee diligently pursues its rights and remedies with respect to a Leasehold Mortgage Foreclosure to completion (it being agreed that any such requirement
shall be suspended during any period in which any exercise of rights and remedies by the Leasehold Mortgagee is enjoined or stayed as long the Leasehold Mortgagee recommences the diligent pursuit of its rights and remedies with respect to a
Leasehold Mortgage Foreclosure as soon as and to the extent permitted under applicable law) and (2) from and after the effective date of the Leasehold Mortgage Foreclosure, the applicable Transferee: 

(i)    Shall take Tenant’s interest in this Lease and the Premises, subject to and with the benefit of
all of the provisions of this Lease; 
 (ii)    Shall, subject to the provisions hereof, cure any and all
existing Rent Defaults by Tenant, plus any interest due and owing on such amounts, regardless of when such Rent Defaults occurred, provided that written notice of each such Rent Default has been given by Landlord to Tenant and the Leasehold
Mortgagee within twenty (20) Business Days after the occurrence of each such Rent Default; and 

(iii)    Shall be liable for the performance of all the obligations of Tenant arising under this Lease on
and after the effective date of the Leasehold Mortgage Foreclosure; provided, however, in no event shall the Transferee be obligated to reimburse Landlord for any Protective Advances expended or incurred by Landlord prior to the effective
date of the Leasehold Mortgage Foreclosure. 
 (i)    Nothing herein contained shall require the
Leasehold Mortgagee or its nominee or any Transferee to cure any default of Tenant other than as expressly provided herein or require the Leasehold Mortgagee to commence or continue the exercise of any of its rights and remedies under the Leasehold
Mortgage; provided, however, that Leasehold Mortgagee shall notify Landlord in writing if it elects to discontinue the exercise of any of its rights and remedies. 

(j)    The term “Leasehold Mortgage,” whenever used herein, shall include whatever
security instruments are used in the locale of the Premises, including, without limitation, mortgages, as well as financing statements, security agreements and other documentation required pursuant to the Uniform Commercial Code. 

(k)    Notwithstanding any of the foregoing to the contrary, Landlord agrees that the making of the
Leasehold Mortgage shall not be deemed to constitute an assignment or transfer of this Lease or of the leasehold estate created hereby, nor shall the Leasehold Mortgagee, as such, be deemed to be an assignee or transferee of this Lease or of the
leasehold estate created hereby so as to require the Leasehold Mortgagee, as such, to assume the performance of any of the terms, covenants or conditions on the part of Tenant to be performed hereunder except as specifically set forth herein. In
addition, any Leasehold Mortgage Foreclosure shall be deemed to be a permitted sale, transfer or assignment of this Lease and of the leasehold estate created hereby. 

(l)    The Leasehold Mortgagee may, upon acquiring Tenant’s leasehold estate pursuant to any Leasehold
Mortgage Foreclosure, without further consent of Landlord, sell and assign this Lease and the leasehold estate on such terms and to such Persons as the Leasehold Mortgagee shall determine, and Leasehold Mortgagee shall be relieved of all obligations
under this Lease; provided that such assignee has agreed to be duly bound by all of the provisions of this Lease. Landlord shall be under no obligation to modify this Lease in any respect in connection with any such sale and assignment.
Notwithstanding anything above to the contrary, in no event shall the Leasehold Mortgagee have the right to assign or otherwise transfer its interests in the Lease to any Prohibited Tenant. 

  
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 (m)    Landlord and Tenant shall not (i) consent or
refuse to consent to any action taken or to be taken, the result of which would diminish or impair the priority of any Leasehold Mortgage; or (ii) subordinate or consent to the subordination of this Lease to any subsequent, underlying lease or
Fee Mortgage. 
 6.3    Notices To and From Leasehold Mortgagees. Without limiting Tenant’s obligations
under Section 15.4 below, Tenant hereby agrees to provide prompt notice to Landlord of any claimed defaults under any Leasehold Mortgage together with copies of any written notices thereof received by Tenant. Landlord
hereby agrees that notices to any Leasehold Mortgagee shall only be considered “given” under any applicable provisions of this Lease, if such notices are given in accordance with the notice provisions of
Section 17.1 and to the address for the Leasehold Mortgagee provided to Landlord by the Leasehold Mortgagee. 

6.4    New Lease. Landlord agrees that, notwithstanding anything to the contrary herein, in the event of
termination of this Lease by reason of any Event of Default, as a consequence of any Leasehold Mortgage Foreclosure, or if this Lease is rejected or disaffirmed by Tenant pursuant to any bankruptcy, insolvency, reorganization, moratorium or similar
law, then Landlord will enter into a new lease for the Premises with the Leasehold Mortgagee or any Transferee for the remainder of the Term effective as of the date of such termination, Leasehold Mortgage Foreclosure or rejection, upon
substantially the same terms, provisions, covenants, and agreements as herein contained, provided that the Leasehold Mortgagee or any Transferee shall (a) make written request upon Landlord of such new lease consistent with the terms of
this Lease within sixty (60) days after the later of (i) the date of such termination, Leasehold Mortgage Foreclosure or rejection, or (ii) the date of the Leasehold Mortgagee’s receipt of notice of the termination or rejection
from Landlord, (b) with respect to the period of time between such termination, Leasehold Mortgage Foreclosure or rejection and the date on which the new lease shall be executed, pay all installments of Rent specified hereunder as and when due
as if there had been no termination, Leasehold Mortgage Foreclosure or rejection, and (c) if there shall have been any default by Tenant hereunder prior to such termination, (i) cure any such monetary default prior to the execution of such
new lease, and (ii) commence to cure any such non-monetary default or breach within sixty (60) days after the execution of such new lease, and continuously pursue such cure and complete the same as
soon as practicable. The parties shall act promptly to execute such new lease after Landlord’s receipt of such request. If, as a result of any such termination of the Lease, Landlord shall have succeeded to the interest of Tenant under any
sublease of all or any portion of the Premises, Landlord shall execute and deliver an assignment of such interest to the tenant under the new lease simultaneously with the delivery of such new lease. 

6.5    No Subordination of Fee. At no time shall Landlord’s interest in the Premises or this Lease be
subordinated in any manner to the lien of any Leasehold Mortgage or the interests of any Leasehold Mortgagee or any other mortgagee or lienholder of Tenant or any person claiming by or through Tenant. 

6.6    Cooperation with Lenders. Landlord agrees to cooperate reasonably with any Leasehold Mortgagee and with
Tenant in Tenant’s negotiations with prospective Leasehold Mortgagees, and to accommodate the reasonable requirements of such lenders. Notwithstanding the foregoing, such obligations as to cooperation and accommodation shall not require
Landlord to modify the terms of this Lease and shall not under any circumstances be construed as Landlord acquiescing to the subordination of either Landlord’s interest in the Premises or any of the Rent due and owing to Landlord hereunder.

  
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 ARTICLE VII. 

MAINTENANCE, REPAIR AND OPERATION 

7.1    Maintenance and Repair: Operation. 

(a)    Tenant agrees that it will, during the Term of this Lease, at its expense, keep, maintain, use and
operate the Premises (including any altered, rebuilt, additional or substituted buildings, structures and other improvements thereto) in good order, condition, repair and appearance and in a marketable and tenantable condition in a manner consistent
with the manner in which similarly situated space is used in Cambridge, Massachusetts, and will promptly make all structural and non-structural, foreseen and unforeseen, and ordinary and extraordinary changes
and repairs of every kind and nature which may be reasonably required to be made upon or in connection with the Premises or any part thereof in order to keep and maintain the Premises in good order, condition, repair and appearance and in such a
marketable and tenantable condition. Tenant shall, at its own expense, keep the Premises in a clean, neat and sanitary condition. Landlord shall not be required to maintain, repair or rebuild, or to make any alterations, replacements or renewals of
any nature or description to the Premises, or any part thereof, whether ordinary or extraordinary, structural or non-structural, foreseen or unforeseen, or to maintain the Premises or any part thereof in any
way. Tenant hereby expressly waives any right to make repairs or improvements at the expense of Landlord. 

(b)    In the event that in connection with any Leasehold Mortgage Foreclosure, the Leasehold Mortgagee
engages independent professional consultants, engineers and inspectors to perform any environmental and/or structural investigations and/or other inspections relating to the general condition of the Premises (the written results of such
investigations and inspections shall be collectively referred to herein as the “Reports”), the Leasehold Mortgagee shall deliver true and correct copies of the Reports to Landlord. 

7.2    Inspection by Landlord; Landlord’s Right to Maintain: Indemnification. 

(a)    Landlord and its authorized representatives shall have the right to inspect the Premises during
regular business hours upon twenty-four (24) hours’ prior written notice, provided that such inspections do not unreasonably interfere with the operations of Tenant or any Occupant, as applicable. In the event of an emergency, such
inspection by Landlord may take place at any time without prior notice. 
 (b)    Notwithstanding
anything to the contrary contained in the Lease, Tenant shall, upon at least ten (10) Business Days’ prior written notice from Landlord, permit such persons as Landlord may designate who shall be Licensed Site Professionals (as defined by
the Massachusetts Contingency Plan, 310 CMR 40.0000 et seq.), geologists, professional engineers or other appropriately licensed, trained or certified individuals or those working under their supervision (“Site Reviewers”) to
visit the Premises and perform environmental audits, site investigations and site assessments (“Site Assessments”). The Site Reviewers shall provide Tenant with insurance certificates evidencing commercial general liability
insurance (including property damage, bodily injury and death) naming Tenant as an additional insured, contractor’s pollution liability insurance naming Tenant as an additional insured, and professional errors and omissions insurance (without a
pollution exclusion), all issued by an insurance company having a rating of at least “A-VII” by A.M. Best Company and with limits of at least $1,000,000 per occurrence, and $2,000,000 in the
aggregate. Landlord shall repair any physical damage caused by the performance of the Site Assessments and shall restore the Premises to its condition immediately prior to such Site Assessment(s). Such Site Assessments may include both above and
below the ground testing for 

  
 16 

 
Hazardous Materials and such other tests as may be necessary, in the opinion of the Site Reviewers, to conduct the Site Assessments. Tenant shall supply to the Site Reviewers without
representation or warranty such historical and operational information in its possession regarding the Premises as may be reasonably requested by the Site Reviewers to facilitate the Site Assessments, and shall make available for meetings with the
Site Reviewers appropriate personnel having knowledge of such matters. If the Site Assessments disclose the presence of Hazardous Materials for which Tenant is responsible under the Lease, the cost of performing the Site Assessments shall be paid by
Tenant. In all other cases the cost of performing the Site Assessments shall be paid by Landlord. 

(c)    Notwithstanding anything above to the contrary, (i) Landlord shall have the right, at the sole
cost of Tenant and upon thirty (30) days’ prior written notice (except in the case of an emergency, in which instance, the written notice shall be provided to Tenant within a time that is reasonable relative to the nature of the
emergency), to cure any default by Tenant with respect to the maintenance, repair and operation activities set forth in Section 7.1, and all costs incurred by Landlord to cure any such default shall be charged to Tenant as
Additional Rent pursuant to the provisions of Section 4.3 of this Lease, and (ii) Tenant agrees to indemnify and hold harmless Landlord from any and all claims, damages or other liabilities resulting from any action
taken by Landlord to cure any such default, except to the extent such claims, damages or other liabilities arise from Landlord’s gross negligence or willful misconduct. 

7.3    Alterations; Demolition and Reconstruction. Tenant shall have the right to make changes and other
alterations to the Improvements, provided, however, that such changes do not (i) result in a violation of Legal Requirements, including without limitation applicable zoning laws (as the same may be modified by special permit, variance or
other relief), or (ii) allow for a use other than the Permitted Uses (it being expressly agreed that any change of use within the Permitted Uses shall not require the consent of Landlord hereunder), or (iii) adversely affect the structural
integrity of any of the Improvements (it being expressly agreed that Tenant shall have the right to make structural changes, so long as the structural integrity of the Improvements is not impaired thereby). Tenant shall also have the right to
demolish and replace the Improvements in part or in their entirety with such other Improvements as may be determined by Tenant in its reasonable discretion, but with the prior written consent of Landlord, which consent shall not be unreasonably
withheld, conditioned or delayed so long as the new Improvements (1) are used for the Permitted Uses, (2) comply with Legal Requirements, including without limitation applicable zoning laws (as the same may be modified by special permit,
variance or other relief), and (3) the value of the Premises upon completion of the new Improvements is not materially and adversely affected thereby. For purposes of this Section 7.3, no change in value shall be
deemed “material and adverse” unless the same exceeds ten percent (10%) of the fair market value of the Improvements immediately prior to demolition, provided that the Premises were maintained in the condition required
hereunder. 
 7.4    New Hazardous Materials and Oil; Indemnification. 

(a)    Tenant unconditionally agrees that neither it nor any Occupant will dump, flush, release or in any
way introduce any Hazardous Materials, Oil or any other Toxic Substances into the septic, sewage or other waste disposal systems serving the Premises (the foregoing shall not prevent the introduction of such substances into a waste disposal system
specifically designed to receive such substances so long as said system is constructed and maintained in accordance with all applicable Legal Requirements). In the event of any such unpermitted introduction, Tenant shall, at its sole cost and
expense, cleanup promptly any contamination and/or damage occasioned by such unpermitted introduction. 

(b)    Tenant further unconditionally agrees that neither it nor any Occupant will release, generate, store
or use (except in accordance with all applicable Legal Requirements) or dispose of 

  
 17 

 
any Hazardous Materials, Oil or any other Toxic Substances in, on, under, at or above the Premises, or dispose of any Hazardous Materials or Oil or Toxic Substances from the Premises into the
air, ground, surface, water, groundwater or subsurface or to any other location in the environment or otherwise, except disposal to a properly licensed, insured and approved disposal facility and then only in compliance with any and all applicable
Legal Requirements. In the event of a breach of the foregoing, Tenant hereby agrees that it shall be responsible for any and all costs relating to the assessment, monitoring, cleanup, containment, removal, and/or remediation of any such Hazardous
Materials, Oil or any other Toxic Substances, including, without limitation, all costs, damages and liabilities incurred by Landlord as a result thereof. Upon notice of any violation of this Section 7.4(b), Tenant shall
promptly take all such actions or cause the responsible party to take all such actions to arrange for the assessment, monitoring, cleanup, containment, removal, remediation and/or restoration of the Premises as are required pursuant to any of the
Environmental Laws or by any Governmental Authority, provided, however, that prior to taking any such actions, Tenant shall submit a plan of all such actions to be taken to Landlord for its prior approval, which approval shall not be
unreasonably withheld, delayed or conditioned, and in any event, with respect to any release to the environment, shall achieve a Class A-1 or a Class A-2
Response Action Outcome (as those terms are defined in the Massachusetts Contingency plan, 310 CMR 40.0000, et seq). 

(c)    For any breach of the above requirements or to the extent of a release of any Hazardous Materials,
Oil or any other Toxic Substance on, in, at, under, or from the Premises after the Commencement Date, Tenant, at its sole cost and expense, shall indemnify, exonerate and save harmless Landlord, its successors and assigns, against and from all
damages, losses, liabilities, obligations, penalties, claims, litigation, demands, defenses, judgments, suits, proceedings and reasonable costs, disbursements or expenses of any kind whatsoever, including, without limitation, reasonable
attorneys’ fees and experts’ fees and disbursements which may at any time be imposed upon, incurred by or asserted or awarded against Landlord, its successors and assigns (collectively, “Claims”) arising from or out
of any violation of the obligations of Tenant under this Article VII or any such release. 

(d)    “Hazardous Materials,” “Oil” and “Toxic
Substances,” as used in this Lease, shall have the same meanings ascribed to such terms in the Massachusetts Oil and Hazardous Material Release Prevention Act, as amended, Mass. Gen. Laws ch. 21E; in the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 9601 et seq.; in the Hazardous Materials Transportation Act, 49 U.S.C. § 1802; in the Toxic Substances Act, 15 U.S.C. § 2601 et seq.; and in the regulations
adopted and publications promulgated pursuant to said Acts, all as the same may be amended from time to time. 

(e)    The obligations of Tenant under this Section 7.4 shall constitute an
independent covenant of Tenant, shall not be affected by any Event of Default under this Lease and shall survive the expiration or any earlier termination of the Term of this Lease. 

7.5    Pre-Existing Hazardous Materials and Oil. 

(a)    Landlord represents and warrants, to Landlord’s knowledge as of the date hereof, that no Pre-Existing Environmental Condition exists on the Premises, except as set forth in the environmental reports identified on Exhibit C attached hereto and incorporated herein by reference. In the event of a
breach of the above representation and warranty, except to the extent contributed to or exacerbated by any of the Tenant Parties (it being understood and agreed that Tenant shall be responsible for the costs associated with or resulting from such
contribution or exacerbation), Landlord hereby agrees that it shall be responsible for any and all costs relating to the assessment, monitoring, cleanup, containment, removal, and/or remediation of such
Pre-Existing 

  
 18 

 
Environmental Condition, including, without limitation, all costs to restore the Premises as a result of any such Pre-Existing Environmental Condition and
all costs, damages and liabilities incurred by Tenant as a result of any such Pre-Existing Environmental Condition, it being understood and agreed that such restoration shall not require actions beyond those
necessary to achieve a Class A-1 or a Class A-2 Response Action Outcome (as those terms are defined in the Massachusetts Contingency plan, 310 CMR 40.0000, et
seq). 
 (b)    Tenant hereby acknowledges that it has reviewed the reports identified on
Exhibit C. Except to the extent the same are the responsibility of Landlord pursuant to the terms of Section 7.5(a) above, Tenant hereby agrees that it shall be responsible for any and all costs
relating to the assessment, monitoring, cleanup, containment, removal, and/or remediation of Pre-Existing Environmental Conditions, including, without limitation, all costs, damages and liabilities incurred by
Landlord as a result thereof. In connection therewith, Tenant shall promptly take all such actions or cause the responsible party to take all such actions to arrange for the assessment, monitoring, cleanup, containment, removal, remediation and/or
restoration of the Premises as are required pursuant to any of the Environmental Laws or by any Governmental Authority, provided, however, that prior to taking any such actions, Tenant shall submit a plan of all such actions to be taken to
Landlord for its prior approval, which approval shall not be unreasonably withheld, delayed or conditioned, and in any event, with respect to any release to the environment, shall achieve a Class A-1 or a
Class A-2 Response Action Outcome (as those terms are defined in the Massachusetts Contingency plan, 310 CMR 40.0000, et seq). 

(c)    Tenant, at its sole cost and expense, shall indemnify, exonerate and save harmless Landlord, its
successors and assigns, against and from any and all Claims arising from or out of any violation of the terms of this Section 7.5 by or on behalf of Tenant, or the failure of Tenant to fully satisfy its obligations under
this Section 7.5. 
 (d)    For the purposes of this
Section 7.5, the term “to Landlord’s knowledge” shall mean only to the actual knowledge of Steven C. Marsh and John P. McQuaid, and shall not be construed to refer to the knowledge of any other
partner, beneficial owner, officer, employee or agent of Landlord, nor shall such term impose any duty to investigate the matters to which such knowledge, or the absence thereof, pertains. There shall be no personal liability on the part of either
Steven C. Marsh and John P. McQuaid arising out of any representations or warranties made herein or otherwise. 
 ARTICLE VIII. 

INDEMNITY, LIENS AND INSURANCE 

8.1    Tenant’s Indemnification. Except to the extent arising out of the gross negligence or
willful misconduct of Landlord, Tenant agrees to pay and to defend, indemnify and hold harmless Landlord from and against any and all liabilities, losses, damages, costs, expenses (including all reasonable attorney’s fees and expenses of Tenant
and Landlord), causes of action, suits, claims, demands or judgments of any nature whatsoever (including reasonable attorney’s fees and expenses) arising from or alleged to arise from: 

(a)    any injury to or death of, or claim of injury to or death of, any person, or any damage to or loss
of, or claim of damage to or loss of, property on the Premises or on adjoining sidewalks, streets or ways, in each case growing out of or connected with the use, non-use, possession, ownership, condition or
occupation of the Premises or any part thereof; 
 (b)    violation of any agreement or condition of this
Lease by Tenant; 

  
 19 

 (c)    violation by Tenant of any contract or agreement
to which Tenant is a party or any Permitted Encumbrance or of any Legal Requirement; and 
 (d)    any
contest referred to in Section 4.7 hereof. 
 Landlord shall give Tenant prompt and timely notice of any claim
made or suit filed against Landlord or any other party of which Landlord has knowledge, relating to any matter which in any way may result in indemnification pursuant to this Section 8.1. Subject to the prior rights, if
any, of insurers, Tenant shall be entitled to control the defense and compromise of any such claim or suit to the extent of any actual or potential claim for indemnification made or reserved by Landlord (as well as any claim made against Tenant or
any of those for whom it is legally responsible), and Tenant shall give Landlord the opportunity to participate in the defense and any compromise of any such claim or suit to the extent of Landlord’s interest therein, but Tenant shall not
settle any proceeding or claim without Landlord’s prior written approval, not to be unreasonably withheld, conditioned or delayed. The obligations of Tenant under this Section 8.1 shall survive the expiration or any
earlier termination of the Term of this Lease. 
 8.2    Landlord’s Indemnification Unless
caused by the negligence or willful misconduct of any of the Tenant Parties, Landlord agrees to pay and to defend, indemnify and hold harmless Tenant from and against any and all liabilities, losses, damages, costs, expenses (including all
reasonable attorney’s fees and expenses of Landlord and Tenant), causes of action, suits, claims, demands or judgments of any nature whatsoever (including reasonable attorney’s fees and expenses) arising from or alleged to arise from an
injury or death of, or claim of injury to or death of, any person or any damage to or loss of, or claim of damage or loss of, property arising directly and solely as a consequence of the gross negligence or willful misconduct of Landlord. 

Tenant shall give Landlord prompt and timely notice of any claim made or suit filed against Tenant or any other party of which Tenant has
knowledge, relating to any matter which in any way may result in indemnification pursuant to this Section 8.2. Subject to the prior rights, if any, of insurers, Landlord shall be entitled to control the defense and
compromise of any such claim or suit to the extent of any actual or potential claim for indemnification made or reserved by Tenant (as well as any claim made against Landlord or any of those for whom it is legally responsible), and Landlord shall
give Tenant the opportunity to participate in the defense and any compromise of any such claim or suit to the extent of Tenant’s interest therein, but Landlord shall not settle any proceeding or claim without Tenant’s consent, not to be
unreasonably withheld, conditioned or delayed. The obligations of Landlord under this Section 8.2 shall survive the expiration or any earlier termination of the Term of this Lease. 

8.3    Liens. Tenant shall make, or cause to be made, prompt payment of all monies due and legally owing to all
Persons doing any work, furnishing any materials or supplies or renting any equipment to Tenant or any of its contractors or subcontractors in connection with the development, construction, reconstruction, furnishing, repair, maintenance or
operation of the Premises and in all events will bond or cause to be bonded, with surety companies reasonably satisfactory to Landlord, or pay or cause to be paid in full forthwith, any mechanic’s, materialmen’s or other lien or
encumbrance that arises against the Premises or any part thereof other than Leasehold Mortgages within thirty (30) days after notice thereof. Notwithstanding the foregoing, Tenant shall have the right to contest any such lien or encumbrance.
Nothing contained in this Lease shall be construed as constituting the consent or request of Landlord, expressed or implied, to or for the performance of any labor or services or the furnishing of any materials for any construction, alteration,
addition, repair or demolition of or to the Premises, the Improvements or of any part thereof. Notice is hereby given that Landlord will not be liable for any labor, services or materials furnished or to be furnished to Tenant, or to anyone
occupying the Premises or any part thereof through or under Tenant, or holding an interest therein (other than Landlord) and that no mechanic’s or other liens for any such labor, services or materials shall attach to or affect the interest of
Landlord in and to the Premises or any part thereof. 

  
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 8.4    Insurance Requirements. Beginning on the Commencement Date
and with respect to the Premises, and continuing until the expiration or earlier termination of the Term or such later date that Tenant or anyone claiming by, through or under Tenant remains in the Premises, Tenant shall at all times carry such
liability, workers’ compensation, property and other insurance coverage with respect to the Premises and any of Tenant’s other insurable property and equipment therein or thereon (all of the above known as the “Insurable
Property”) as may be required from time to time by any Leasehold Mortgagee, but in no event shall Tenant carry less than the following: 

(a)    Commercial general liability (and excess liability) insurance applicable to the Insurable Property
naming Landlord and any other parties designated by Landlord as additional insureds and covering the legal liability of Landlord (as respects this asset) and Tenant for death and bodily and other personal injury with a combined single limit of                  (portions of which liability and property
damage coverages may be provided under an umbrella policy) with commercially reasonable deductibles; 

(b)    worker’s compensation insurance required by law; 

(c)    demolition and debris removal insurance (if not included as part of the insurance carried pursuant
to clause (d) below) payable in the event that the debris or demolition is occasioned by damage to or destruction of the Improvements or any portion thereof, including any casualty pursuant to Article IX hereof, or, to the extent such
insurance is available, by condemnation pursuant to Article X hereof, in each case sufficient to pay for the removal of any portion of the Improvements, if required pursuant to Article IX or X hereof; 

(d)    special form property insurance and additional risk insurance, such insurance to be in amounts
sufficient to comply with any co-insurance clause applicable to the location and character of the Insurable Property and, in any event, in amounts not less than one hundred percent (100%) of the then repair
and replacement cost of the Insurable Property, with commercially reasonable deductibles, provided, however, that earthquake insurance shall be for the maximum economically available amounts and need not be for one hundred percent (100%) of
the full replacement cost of the Insurable Property, but shall be for no less than ninety percent (90%) of the full replacement cost of the Insurable Property; 

(e)    during any construction periods, Tenant shall carry or cause to be carried builder’s risk
coverage in amounts appropriate for the construction work undertaken; 
 (f)    rent insurance to cover
Base Rent and Taxes for at least eighteen (18) months, including but not limited to periods of time when the Premises are unusable by reason of casualty pursuant to Article IX (if not included as part of the insurance carried pursuant to
subsection (d) above; and 
 (g)    upon Landlord’s written request, such other insurance
carried by prudent owners of property similar to and in the vicinity of the Premises. 
 All insurance contained in clauses (c) and (d)
of this Section 8.4 shall be concurrent with the insurance required under clause (e) of this Section 8.4. The minimum coverages stated in this Section shall be reviewed annually by Landlord
and Tenant and shall be increased at such intervals if such increases are necessary to reflect (1) changes in amounts of such insurance customarily carried by prudent owners of comparable properties in the City of Cambridge, (2) inflation
or (3) changes in the nature or degree of risks insured. 

  
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 8.5    Insurance Provisions. Insurance maintained by Tenant
pursuant to the requirements of Section 8.4 shall: 
 (a)    be by standard
policies, obtained from financially sound and responsible insurance companies authorized to do business in the Commonwealth Massachusetts; 

(b)    have attached thereto a clause making the loss payable to Tenant, any Leasehold Mortgagee, and
Landlord as their respective interests may appear; 
 (c)    be written to become effective at the time
Tenant becomes subject to the risk or hazard covered thereby, and shall be continued in full force and effect for such period as Tenant is subject to such risk or hazard; and 

(d)    provide that any cancellation, change or termination of such insurance relating to the Insurable
Property shall not be effective with respect to Landlord or any Leasehold Mortgagee until after at least thirty (30) days’ prior notice has been given to Landlord and the Leasehold Mortgagee to the effect that such insurance policies are
to be canceled, changed, or terminated at a particular time. 
 Certificates of such policies and renewals, showing the issuance and
effectiveness of each such policy and the amount of coverage afforded thereby, shall be filed with Landlord. 

8.6    Waiver of Subrogation. Landlord and Tenant each hereby waives on behalf of itself and its property insurers
(none of which shall ever be assigned any such claim or be entitled thereto due to subrogation or otherwise) any and all rights of recovery, claim, action, or cause of action against the other and its agents, officers, servants, partners,
shareholders, or employees (collectively, the “Related Parties”) for any loss or damage that may occur to or within the Premises or any part thereof, or any personal property of such party therein which is insured against
under any property insurance policy actually being maintained by the waiving party from time to time, even if not required hereunder, or which would be insured against under the terms of any insurance policy required to be carried or maintained by
the waiving party hereunder, whether or not such insurance coverage is actually being maintained, including, in every instance, such loss or damage that may be caused by the negligence of the other party hereto and/or its Related Parties. Landlord
and Tenant each agrees to cause appropriate clauses to be included in its property insurance policies necessary to implement the foregoing provisions. 

ARTICLE IX. 
 CASUALTY 

9.1    Collection of Claims. If the Improvements or any portion thereof shall be damaged or destroyed by fire or
other casualty prior to the expiration of the Term, Tenant shall proceed promptly to establish and collect as soon as reasonably possible all valid claims which may have arisen against insurers or others based upon any such damage or destruction.
The provisions of this Section 9.1 shall survive the expiration or earlier termination of this Lease. 

9.2    Special Account. If the total amount of all proceeds of any such claims (hereinafter called the
“Insurance Proceeds”) and any other monies provided for the reconstruction, restoration or repair of the Improvements shall exceed the greater of (a)
                 or (b)                  of the fair market value of the
Improvements, the same shall be paid into an escrow account, with a single escrow agent which 

  
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shall be appointed jointly by Tenant and Landlord, both parties agreeing to use good faith, reasonable efforts to agree on such appointment. Notwithstanding the above, in the event that a
Leasehold Mortgage is in force and effect, the Leasehold Mortgagee shall have the right to appoint such escrow agent, which right shall include the ability to appoint itself such escrow agent. Payments from such escrow account shall conform to the
requirements of this Article and any Leasehold Mortgage and, in the event of restoration, shall be made on a progress payment basis against vouchers certified by a registered architect selected by Tenant and supervising the work of restoration and
shall be subject to reasonable retainage. 
 9.3    Restoration. Unless otherwise determined in accordance with
Section 9.5, Tenant shall fully repair and reconstruct the Improvements either to their condition immediately prior to such damage or destruction or in accordance with such new or modified plans and specifications as
Tenant, Landlord and, to the extent required under any Leasehold Mortgage, the Leasehold Mortgagee may at the time agree upon and approve, subject to any applicable building and zoning laws or other applicable Legal Requirements then in existence.
Insurance Proceeds and any other funds so collected shall be used and expended by Tenant for such purpose. Any deficiency shall be paid by Tenant and Tenant’s obligation hereunder shall not be affected by the unavailability or insufficiency of
Insurance Proceeds or the use of the Insurance Proceeds by Leasehold Mortgagee to pay down the outstanding amount of the Leasehold Mortgage as permitted in Section 9.6 hereof. Subject to the terms of any Leasehold Mortgage,
any excess proceeds after such repair or reconstruction has been fully completed shall be retained by Tenant, subject to the rights of Landlord to require that such excess be applied to the extent necessary to pay any outstanding Base Rent,
Additional Rent and other amounts owed by Tenant to Landlord pursuant to this Lease. 
 9.4    Commencement and
Completion of Restoration. Tenant shall commence such reconstruction or repair of the damaged Improvements within a period not to exceed ninety (90) days after the Insurance Proceeds have been received by Tenant (or, if the conditions then
prevailing require a longer period, such longer period as shall reasonably be required by Tenant proceeding with due diligence), and Tenant shall diligently prosecute such reconstruction or repair to completion, with such reconstruction or repair to
be completed within two (2) years after the commencement thereof. In furtherance of the foregoing, to the extent all or any portion of the Premises is not subject to a Sublease (“Unleased Space”) on the date that Tenant
would otherwise be required to commence such reconstruction or repair, Tenant shall not be required to commence such reconstruction or restoration of the tenant improvements in Unleased Space until after a Sublease has been executed and plans for
improvements have been finalized for such Unleased Space. Notwithstanding anything to the contrary, in the event that such reconstruction or repair is not complete prior to the expiration or earlier termination of the Term, then the Insurance
Proceeds, or the remaining balance thereof, shall be assigned and delivered to Landlord. 
 9.5    Casualty During
Last 5 Years of the Term. In the event of substantial damage or destruction by a casualty insured against occurring during the last five (5) years of the Term, then Tenant, subject to the rights of any Leasehold Mortgagee, shall have the
right to terminate this Lease upon thirty (30) days’ notice to Landlord, in which event the Insurance Proceeds (or a sum equivalent to such amount) shall be payable as set forth in Section 9.6. For purposes of
this Section 9.5, such damage or destruction shall be deemed “substantial” only if the period of time reasonably necessary for Tenant to perform its restoration obligations exceeds                  of the balance of the Term (measured from
the date of such casualty). 
 9.6    Allocation of Proceeds. If Tenant elects to terminate this Lease in
accordance with Section 9.5, then to the extent Landlord has made a request pursuant to Section 9.7 below, after deducting the Clearing Costs from the Insurance Proceeds (the “Net
Proceeds”), the Net Proceeds shall be allocated between and paid to Landlord and Tenant in order that following the disbursement of the Net Proceeds, each has received an amount of the Net Proceeds bearing the same proportion to the
aggregate Net Proceeds as its respective interest in the Premises bears to the aggregate value of the Premises immediately prior to 

  
 23 

 
the casualty giving rise to termination of this Lease. Landlord and Tenant shall attempt to allocate the Net Proceeds between Landlord and Tenant fairly to effect such allocation. If the parties
are unable to agree on such allocation, the allocation shall be made pursuant to arbitration in the manner provided in Section 16.5 hereof. In determining the value of Tenant’s interest in the Premises, the parties or
the arbitrators, as the case may be, shall take into account the present value of Tenant’s leasehold estate for the remainder of the Term unencumbered by any mortgages, subject to all of the terms and conditions of this Lease. In determining
the value of Landlord’s interest in the Premises, the parties or the arbitrators, as the case may be, shall take into account the present value of (i) the right to receive rent and other charges and payments required to be paid under this
Lease for the balance of the Term, and (ii) the projected residual value of the Improvements as of the originally scheduled expiration of the Term. Notwithstanding the foregoing, in the event that a Leasehold Mortgage is then in effect, then
the Net Proceeds shall be disbursed in accordance with the terms of such Leasehold Mortgage and the Leasehold Mortgagee that is the holder thereof shall have a claim to such Net Proceeds prior to that of Tenant and Landlord to pay the outstanding
amounts secured by such Leasehold Mortgage to the extent required or permitted under such Leasehold Mortgage or to otherwise disburse the Net Proceeds in accordance with the terms thereof. 

9.7    Tenant’s Responsibilities on Termination. If Tenant terminates this Lease following a
casualty in accordance with Section 9.5 or if restoration is not complete prior to end of the Term, Tenant, at its sole expense, shall deliver to Landlord any plans or other technical materials related to the design and
construction of the Improvements, which may be in Tenant’s possession, and, at the request of Landlord, shall remove any remaining Improvements and restore the Premises to a cleared and safe condition and at a grade approximately level with
abutting land. Upon the completion of any such demolition or other site preparation work to the reasonable satisfaction of Landlord and the payment of such Net Proceeds to Landlord (or to the Leasehold Mortgagee as provided in
Section 9.6 hereof), Tenant shall surrender the Premises to Landlord in accordance with Section 5.7 of this Lease and this Lease shall be terminated without liability or further recourse to the
parties hereto except for obligations which by their terms expressly survive the expiration or earlier termination of this Lease, provided that any Base Rent, Additional Rent, and other amounts payable or obligations owed by Tenant to Landlord as of
the date of said termination shall be paid or otherwise carried out in full. The provisions of this Section 9.7 shall survive the expiration or earlier termination of the Term. 

9.8    Demolition and Debris Removal Insurance. Proceeds of demolition and debris removal insurance, if separately
obtained pursuant to Section 8.4(c) hereof, shall be separately accounted for by the escrow agent and shall be used to the extent available to pay the cost of any such demolition and debris removal occasioned by a casualty
unless otherwise agreed by Landlord, Tenant and any Leasehold Mortgagee named as a loss payee on the policy of demolition and debris removal insurance, with Tenant responsible for paying any shortfall between such proceeds and the cost of such
demolition and debris removal. 
 ARTICLE X. 

CONDEMNATION 

10.1    A Taking. This Article shall apply to any taking of the title to, access to, or use of the Premises or any
portion thereof by any Governmental Authority or any conveyance under the threat thereof, for any public or quasi-public use or purpose (a “Taking”). Takings may be total or partial, permanent or temporary, as provided below.

 10.2    Special Account. The full amount of any award whether pro tanto or final for any Taking (the
“Award”), shall, notwithstanding any allocation made by the awarding authority, be paid into an escrow account in accordance with the procedures established in Section 9.2 above, provided that
there shall first be deducted from the Award all reasonable fees and expenses of collection, including but not 

  
 24 

 
limited to, reasonable attorneys’ fees and experts’ fees (the “Net Award”). Landlord and Tenant shall then attempt to fairly allocate (taking into account any
restoration obligation of Tenant) the Net Award between Landlord’s interest in the Premises and Tenant’s interest in the Premises for the remainder of the Term of this Lease, taking into account their respective interests, any existing
appraisals used to determine (or to contest) the amount of the Award and any other relevant information and analysis. If the parties are unable to agree on such allocation, the allocation shall be made pursuant to arbitration in the manner provided
in Section 16.5 hereof. Upon determination of the allocation of the Net Award between Landlord and Tenant, either by agreement of the parties or by decision of the arbitrators, Landlord’s portion thereof shall be paid
forthwith to Landlord, and Tenant’s portion shall be paid as provided in this Article X. The portion of the Net Award so allocated to Landlord shall be known herein as “Landlord’s Award,” and the portion so
allocated to Tenant shall be known herein as “Tenant’s Award.” Notwithstanding the foregoing, a Leasehold Mortgagee shall have a claim to the Net Award prior to that of Tenant and Landlord to pay outstanding amounts
secured by a Leasehold Mortgage to the extent required under such Leasehold Mortgage. 
 10.3    Total Taking. In
the event of a permanent Taking of the fee title to or of control of the Premises or of the entire leasehold estate hereunder (a “Total Taking”), Tenant, upon the request of Landlord and at Tenant’s sole expense, shall
deliver to Landlord any plans or other technical materials related to the design and construction of the Improvements that Tenant has in its possession. Landlord and Tenant hereby agree that this Lease shall terminate as of the effective date of
such Total Taking, and except with regard to provisions hereof which expressly survive termination, there shall be no liability or further recourse to the parties under the terms and provisions of this Lease, provided that any Base Rent, Additional
Rent, other charges payable or any other monetary obligations due and owing by Tenant to Landlord as of the date of said Total Taking shall be paid or otherwise carried out in full. 

10.4    Restoration. In the event of a permanent Taking of less than all of the Premises (a “Partial
Taking”), Landlord and Tenant (and, to the extent required under the applicable Leasehold Mortgage, the Leasehold Mortgagee) shall reasonably agree upon and approve plans and specifications to modify the remaining Improvements, which
plans and specifications shall be subject to any applicable building and zoning laws and other Legal Requirements then in existence. Upon approval of said plans, Tenant shall promptly proceed, at its expense, to commence and complete the restoration
pursuant to the provisions of Section 9.3 hereof. Subject to the procedures of the escrow account set forth in Section 9.2 hereof, Tenant may use the entire Tenant’s Award for such
restoration, and, subject to the rights of any Leasehold Mortgagee, may retain for its own use any portion of Tenant’s Award remaining after the completion of the restoration subject to the rights of Landlord to require that any such excess be
applied first to the extent necessary to pay any outstanding Base Rent, Additional Rent and other amounts owed by Tenant to Landlord pursuant to this Lease. If the cost of the restoration shall exceed the amount of Tenant’s Award, subject to
the provisions of Section 6.2(k), the deficiency shall be paid by Tenant and Tenant’s obligation hereunder shall not be affected by the unavailability or insufficiency of Tenant’s Award or the use all or a portion
of the Net Award by Leasehold Mortgagee to pay down the outstanding amount of the Leasehold Mortgage as permitted in Section 10.2 hereof. 

10.5    Temporary Taking. If the use or occupancy of the Premises or any part thereof shall be temporarily
requisitioned by any Governmental Authority, civil or military (including, without limitation, any requisition or Taking arising out of the exercise of governmental war powers or any other emergency governmental powers) (a “Temporary
Taking”), then, subject to the prior rights of any Leasehold Mortgagee in and to the Net Award as provided in Section 10.2, any Net Award made as a result of such Temporary Taking shall be payable solely to
Tenant if the duration of such Temporary Taking is wholly within the Term, and this Lease shall continue in full force and effect and there shall be no abatement of Rent as a result thereof. If the Temporary Taking extends beyond the expiration or
earlier termination of this Lease, then a pro-rata portion (based on a fraction, the numerator of which is the number of days of such Temporary Taking occurring within the Term, and the denominator of which is
the number of days of the Temporary Taking) of such award shall be payable to Tenant. 

  
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 10.6    Abatement of Rent. In the event of a Partial Taking, each
monthly installment of Base Rent payable hereunder shall be equitably reduced, commencing with the first rent payment date following the effective date of such Partial Taking. If Landlord and Tenant cannot reasonably agree upon an equitable
reduction in the Base Rent payable hereunder, such reduction shall be determined through arbitration pursuant to Section 16.5 below. 

10.7    Demolition and Debris Removal Insurance. Proceeds of demolition and debris removal insurance required
pursuant to Section 8.4(c) hereof, shall be separately accounted for by the escrow agent and shall be used to the extent available to pay the cost of any such demolition and debris removal occasioned by a casualty unless
otherwise agreed by Landlord, Tenant and any Leasehold Mortgagee, and shall name Landlord, Tenant and any Leasehold Mortgagee as loss payees, as their interests appear, on the policy of demolition and debris removal insurance, with Tenant
responsible for paying any shortfall between such proceeds and the cost of such demolition and debris removal. 
 ARTICLE XI. 

DEFAULT; REMEDIES 

11.1    Events of Default. An event of default (“Event of Default”) by Tenant shall occur:

 (a)    if Tenant fails to pay when due the Rent, any Additional Rent or any other payments due under
this Lease and any such default shall continue for fifteen (15) days after receipt of written notice thereof by Tenant; or 

(b)    if Tenant fails in any material respect to observe or perform any covenant, condition, agreement or
obligation hereunder, and shall fail to cure, correct or remedy such failure within thirty (30) days after receipt of written notice thereof by Tenant (or such additional time reasonably necessary if such failure cannot be cured by the payment
of money and cannot with due diligence be cured within a period of thirty (30) days provided Tenant commences cure within said 30-day period and pursues such cure to completion with reasonable diligence;
or 
 (c)    if any representation or warranty of Tenant set forth in this Lease, in any certificate
delivered pursuant hereto, or in any notice, certificate, demand, submittal or request delivered to Landlord by Tenant pursuant to this Lease shall prove to be incorrect in any material and adverse respect as of the time when the same shall have
been made and the same shall not have been remedied to the satisfaction of Landlord; or 
 (d)    if
Tenant shall be adjudicated bankrupt or be declared insolvent under the Federal Bankruptcy Code or any other federal or state law (as now or hereafter in effect) relating to bankruptcy, insolvency, reorganization,
winding-up or adjustment of debts (hereinafter collectively called “Bankruptcy Laws”), or if Tenant shall (a) apply for or consent to the appointment of, or the taking of
possession by, any receiver, custodian, trustee, United States Trustee or liquidator (or other similar official) of Tenant or of any substantial portion of Tenant’s property; (b) generally not pay its debts as they become due or admit in
writing its inability to pay its debts generally as they become due; (c) make a general assignment for the benefit of its creditors; (d) file a petition commencing a voluntary case under or seeking to take advantage of any Bankruptcy Law;
or (e) fail to controvert in a timely and appropriate manner, or in writing acquiesce to, any petition commencing an involuntary case against Tenant pursuant to any Bankruptcy Law; or 

  
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 (e)    if an order for relief against Tenant shall be
entered in any involuntary case under the Federal Bankruptcy Code or any similar order against Tenant shall be entered pursuant to any other Bankruptcy Law, or if a petition commencing an involuntary case against Tenant or proposing the
reorganization of Tenant under the Federal Bankruptcy Code shall be filed in and approved by any court of competent jurisdiction and not be discharged or denied within one hundred twenty (120) days after such filing, or if a proceeding or case
shall be commenced in any court of competent jurisdiction seeking (a) the liquidation, reorganization, dissolution, winding-up or adjustment of debts of Tenant, (b) the appointment of a receiver,
custodian, trustee, United States Trustee or liquidator (or other similar official of Tenant or of any substantial portion of Tenant’s property, or (c) any similar relief as to Tenant pursuant to any Bankruptcy Law, and any such proceeding
or case shall continue undismissed, or any order, judgment or decree approving or ordering any of the foregoing shall be entered and continued unstayed and in effect for one hundred twenty (120) days. 

11.2    Remedies for Default. If there is an Event of Default on the part of Tenant and no condition precedent to
any obligation of Tenant exists unfulfilled or unwaived, Landlord, subject to the rights of the Leasehold Mortgagee set forth in Article VI, may terminate this Lease pursuant to Section 11.3 and may exercise its
other remedies set forth in this Article XI. 
 11.3    Termination of Lease for Tenant’s
Default. 
 (a)    Subject to any rights of a Leasehold Mortgagee under Article VI, Landlord
may, when permitted by Section 11.2, terminate this Lease upon not less than thirty (30) additional days’ written notice to Tenant, and any Leasehold Mortgagee of which it has notice, setting forth Tenant’s
uncured, continuing default and Landlord’s intent to exercise its rights to terminate under this Section 11.3, whereupon, subject to the provisions of Article VI, this Lease shall terminate on the termination
date therein set forth unless Tenant’s alleged default has been cured before such termination date. 

(b)    Upon such termination, Tenant’s interest in the Premises shall automatically revert to
Landlord, Tenant shall promptly quit and surrender the Premises to Landlord, without cost to Landlord, and Landlord may, without demand and further notice, re-enter and take possession of the Premises, or any
part thereof and repossess the same as Landlord’s former estate by summary proceedings, ejectment or otherwise without being deemed guilty of any manner of trespass and without prejudice to any remedies which Landlord might otherwise have for
arrears of Rent or for a prior breach of the provisions of this Lease. Subject to the provisions of Article VI, the obligations of Tenant under this Lease which arose prior to termination shall survive such termination. 

11.4    Rights Upon Termination. Subject to the provisions of Article VI, upon any termination of this Lease
pursuant to Section 11.3, Landlord may: 
 (a)    retain, at the time of such
termination, any Base Rent, Additional Rent or other fees or payments made hereunder, without any deduction, offset or recoupment whatsoever; and 

(b)    enforce its rights under any bond obtained by Tenant pursuant to the requirements of
Section 8.3 of this Lease outstanding at the time of such termination; and 

(c)    require Tenant to deliver to Landlord, or otherwise effectively transfer to Landlord any and all
rights of possession, ownership or control Tenant may have in and to, any and all plans, specifications, renderings, engineering data, soils or water report and other technical documents or material related to the design and construction of the
Improvements and architect’s and construction contracts relating to the Improvements; and 

  
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 (d)    recover as damages a sum equal to the amount by
which the Base Rent, Additional Rent and other payments called for hereunder for what would have been the remainder of the Term exceed the fair rental value of the Premises, subject to the limitations on Tenant’s liability set forth in
Section 11.11 hereof. 
 In addition to the above remedies of Landlord, Tenant agrees to reimburse Landlord for
any and all actual expenditures reasonably incurred and for any and all actual damages suffered by Landlord by reason of such termination, however caused. 

11.5    Other Remedies. If there is an Event of Default on the part of Tenant, subject to the provisions of
Article VI, Landlord shall, in addition to any other remedies herein provided, have the right, without terminating the Lease, to re-enter and take possession of the Premises, or any part thereof and
repossess the same by summary proceedings, ejectment or otherwise. Notwithstanding the foregoing, in the event that any Leasehold Mortgagee has provided to Landlord a Notice of Leasehold Mortgagee’s Intent to Exercise Remedies and is diligently
and continuously pursuing its rights and/or remedies in an effort to effect a Leasehold Mortgage Foreclosure, Landlord shall not exercise the rights and remedies provided to Landlord under this Section 11.5. In the event
that the Leasehold Mortgagee does not diligently and continuously pursue such Leasehold Mortgage Foreclosure, Landlord shall have the right, upon providing thirty (30) days’ written notice to Tenant and Leasehold Mortgagee, to exercise the
rights and remedies under this Section 11.5. 
 11.6    Performance by Landlord. Upon
an Event of Default, Landlord may (but need not) and without waiving any default or releasing Tenant from any obligations, cure such default for the account of Tenant. Tenant shall promptly pay Landlord the amount of such charges, costs and expenses
as Landlord shall have incurred in curing such default, together with interest at the Base Interest Rate. 

11.7    Legal Costs. If either party prevails in any action against the other party in connection with the exercise
of its rights and remedies under this Lease, the non-prevailing party shall be liable for the reasonable and actual legal expenses of the prevailing party. An award of reasonable attorneys’ fees and costs
shall be determined by the court. The “prevailing party” shall be the party that obtains final judgment in its favor. If the institution of an action to enforce the terms of this contract is resolved by settlement, the
parties will determine what portion, if any, of the injured party’s legal fees and costs will be paid by the breaching party. 

11.8    Remedies Cumulative. Unless otherwise specifically provided in this Lease, no remedy herein shall be
exclusive of any other remedy or remedies, and each such remedy shall be cumulative and in addition to every other remedy; and every power and remedy given by this Lease may be exercised from time to time and as often as may be deemed expedient by
either party. No delay or omission by Landlord to exercise any right or power accruing upon any Event of Default or any tolling thereof as a result of the provisions of Article VI hereof shall impair any such right or power or shall be
construed to be a waiver of any such Event of Default or an acquiescence therein. The absence in this Lease of any enumeration of events of default by Landlord or remedies of either party with respect to money damages or specific performance shall
not constitute a waiver by either party of its right to assert any claim or remedy available to it under law or in equity. 

11.9    Waiver as to Surety. Tenant and Landlord, for themselves and their successors and assigns, and all other
persons who are or who shall become, whether by express or implied assumption or otherwise, liable upon or subject to any obligation or burden under this Lease, hereby waive, to the fullest extent 

  
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permitted by law and equity, all claims or defenses otherwise available on the grounds of its or their being or having become a person in the position of a surety, whether real, personal, or
otherwise, or whether by agreement or operation of law. Such waiver shall include, but shall not be limited to, all claims and defenses based upon extensions of time, indulgence, or modification of terms of this Lease. 

11.10    Force Majeure. If either party shall be delayed in performing any obligation under this Lease, except any
obligation to pay Base Rent, Additional Rent or any other sums of money payable hereunder, for any of the reasons enumerated in this Section 11.10 and the delay is not caused by the delayed party, the time for such
performance shall be extended by a period of time equal to such delay, and the party shall not be deemed to be in default where such delays or defaults are due to war; terrorism; insurrection; strikes; lock-outs; riots; floods; earthquakes; fires;
casualties; acts of God; epidemics; quarantine; restrictions; freight embargoes; acts or failure to act of the City of Cambridge or any other Governmental Authorities that cause a significant portion of the Premises to be unusable in accordance with
this Lease; acts of the other party in violation of this Lease; or any other reasonable cause relating to this Lease beyond the control or without the fault of the party claiming an extension of time to perform; provided that the party whose
performance is delayed shall have commenced and is diligently pursuing all reasonable and available means and measures necessary to minimize or eliminate such delay resulting from any such causes or conditions. Each party shall give written notice
of any such delay to the other party within thirty (30) days of such party’s knowledge of the occurrence of such event. 

11.11    Landlord Default. Notwithstanding anything to the contrary contained in the Lease, Landlord shall in no
event be in default in the performance of any of Landlord’s obligations under this Lease unless Landlord shall have failed to perform such obligations within thirty (30) days (or such additional time as is reasonably required to correct
any such default, provided Landlord commences the cure within thirty (30) days and pursues such cure to completion with reasonable diligence) after notice by Tenant to Landlord properly specifying wherein Landlord has failed to perform
any such obligation. Except in the case of a wrongful eviction of Tenant from the Premises (constructive or actual) by Landlord, Tenant shall not have the right to terminate or cancel this Lease or to withhold rent or to set-off or deduct any claim or damages against rent as a result of any default by Landlord of its covenants hereunder, provided, however, that Tenant shall not exercise such rights unless Landlord shall have
failed to cure the default giving rise to the eviction after notice to Landlord thereof and an opportunity to cure the same as set forth above. 

ARTICLE XII. 
 TRANSFER AND
ASSIGNMENT 
 12.1    Assignment. Subject to the provisions of Section 12.2 of this
Lease, Tenant shall have the right to transfer, sell or assign its interest in this Lease to any party, without the prior written consent of Landlord, provided, however, that the transferee, purchaser or assignee, as the case may be, of
Tenant’s interest in the Lease shall not be a Prohibited Tenant. For the purposes of this Lease, any of the following transactions shall constitute an assignment of this Lease: (i) any assignment by operation of law; (ii) a sublease
of substantially all of the Premises for all or substantially all of the remainder of the Lease Term; (iii) the entering into of any transaction or series of transactions transferring all or substantially all of the interests in the profits and
losses from the business operations of Tenant in the Premises to a person or entity other than Tenant, or otherwise having substantially the same effect as an assignment of the Lease; and (iv) any transfer of Tenant’s interest under the
Lease in connection with a foreclosure of a Leasehold Mortgage (but, with respect to any such transfer, the provisions of Article VI shall control over the provisions of this Section 12.1). Except in connection with
the grant of a Leasehold Mortgage or Leasehold Mortgagee’s exercise of its rights thereunder, any sale or transfer of more than fifty percent (50%) of the economic value or of managerial control (including a sale or transfer that conveys a
right to institute a change in managerial control) or voting control of the entity that is Tenant or of any entity that directly or 

  
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indirectly holds more than fifty percent (50%) of the economic interests or of managerial or voting control of the entity that is Tenant to a person or persons not previously holding such
economic interests or managerial control or voting control of any such entity (either in a single transaction or series of transactions) shall constitute a “Transfer of Control.” 

12.2    Right of First Offer. 

(a)    Throughout the Term, Tenant shall not assign its leasehold interest in the Premises nor shall there
be a Transfer of Control without first giving Landlord a right of first offer with respect to Tenant’s interests (the “First Offer Right”) on the following terms and conditions. Landlord’s rights under this Section
shall be binding upon the original Tenant and each and every subsequent Tenant and, without limiting the general application of the foregoing, shall apply to any transaction or series of transactions other than any of Tenant Excluded Transactions
(defined below) that would constitute an assignment of this Lease under Section 12.1 hereof. Before marketing or assigning its interest, Tenant shall notify Landlord in writing of the price and other significant terms and
conditions (including the state of “title”) on which Tenant intends to market its interest (the “Assignment Notice”). All such terms and conditions must be terms and conditions that are generally able to be
fulfilled by any prospective purchaser. Landlord shall have thirty (30) days after delivery of the Assignment Notice either to accept Tenant’s offer and to tender to an escrow agent pursuant to an escrow agreement each reasonably
satisfactory to Landlord and Tenant a cash deposit equal to
                     of the
price. If Landlord fails timely to accept Tenant’s offer, Tenant, except to the extent that the proposed assignee is a Prohibited Tenant (in which event Landlord’s consent to such an assignment shall be required as provided in this
Section 12.2), may sell such interest to a third party within the twelve (12) month period thereafter so long as the net present value of the consideration to be received by Tenant from such transfer is not less than
                             
        of the net present value of the consideration to be received by Tenant under the terms offered to Landlord and other significant terms and conditions of such
transfer are not more favorable in more than a de minimis manner to the buyer than the terms and conditions offered to Landlord. The net present value of all consideration shall be discounted to net present value at                      per annum. If the
net present value of the consideration to be paid on any potential sale is less than          of the net present value of the consideration to be paid under Tenant’s offer to Landlord or the transfer is on other terms and conditions more favorable in more than a de minimis manner to the buyer than
the terms and conditions offered to Landlord, Tenant may not sell or assign its interests unless Tenant first repeats the process set forth above prior to consummating such a sale. The First Offer Right shall not apply to any of the following
transactions (the “Tenant Excluded Transactions”): (i) the grant of any Leasehold Mortgage, (ii) the foreclosure of a Leasehold Mortgage or the acceptance of an assignment in lieu of foreclosure, by a Leasehold Mortgagee
(other than an Affiliate) or its nominee, or (iii) a conveyance by a Leasehold Mortgagee (other than an Affiliate) or its nominees to a third party pursuant to a public auction. 

(b)    If Landlord exercises the First Offer Right and pays any deposit, as provided herein, there shall
arise a binding purchase and sale agreement between Landlord, as buyer, and Tenant, as seller, on the terms contained in Tenant’s offer to Landlord for Tenant’s interest in the Premises and, unless otherwise specified in Tenant’s
offer to Landlord, in an “as is” condition and as occupied. 
 (c)    The closing on the
purchase shall take place within ninety (90) days after Landlord’s exercise of the First Offer Right (or if such date is a Saturday, Sunday or holiday, on the next following Business Day) at the office of Landlord’s counsel in the
Boston metropolitan area unless otherwise specified in Tenant’s offer or agreed to by the parties. At the closing, except in connection with a Transfer of Control, the parties shall make the deliveries specified in
Section 19.3 below (it being understood and agreed that no termination fee is payable in connection with the exercise of Landlord’s rights under this Section 12.2). 

  
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 (d)    Time is of the essence in connection with the
exercise of the First Offer Right and the performance of the agreement of the parties hereunder. 

(e)    In the event that Tenant proposes to assign its interest in the Premises and Landlord does not
exercise its First Offer Right hereunder, Landlord, within thirty (30) days of the delivery of the Assignment Notice or such earlier date as Landlord waives, in writing, the First Offer Right, shall (i) confirm whether the proposed
transferee satisfies the applicable criteria set forth in Section 12.1 (i.e., that the proposed transferee in fact is not a Prohibited Tenant) and Landlord’s consent to the proposed transfer is not required, or
(ii) notify Tenant with reasonable specificity what further information Landlord requires to make its determination. If Landlord does not notify Tenant in writing within the above stated time period of all specific respects in which the
proposed transferee does not satisfy the applicable criteria set forth in Section 12.1, or of the further information Landlord requires to make its determination, the transfer to such proposed transferee shall be deemed
approved. If Landlord requests further information concerning a proposed transferee, within fifteen (15) days of receipt of such additional information, Landlord shall confirm that the proposed transferee satisfies the applicable criteria set
forth in Section 12.1, or it shall notify Tenant of the specific respects in which such proposed transferee does not satisfy the applicable criteria set forth in Section 12.1. If Landlord does not
so notify Tenant within said fifteen (15)-day period, the transfer to such proposed transferee shall be deemed approved. The recording of an affidavit by Tenant to the effect that such approval has been deemed
to have been received by the passage of such a period shall be conclusive evidence thereof. 
 ARTICLE XIII. 

SUBLETTING, ESTOPPEL CERTIFICATES, AND NON-DISTURBANCE AND ATTORNMENT 

AGREEMENTS 

13.1    Subletting. Except to the extent that a sublease is deemed an assignment of Tenant’s interest in the
Premises as set forth in Section 12.1 of this Lease, Tenant shall have the right to enter into any Sublease, provided that all Occupants under any Sublease shall only have the right to use the Premises in accordance
with the Permitted Uses and for no other uses. Tenant shall not enter into any Sublease of any kind, or an extension of any such Sublease of any kind, for any portion of the Premises having a term which extends beyond the Term of this Lease. If
Tenant shall contemplate making any Sublease not meeting the criteria set forth in the preceding two sentences, Tenant shall submit to Landlord for approval two (2) copies of such proposed Sublease, together with any information concerning the
identity and financial worth of the proposed Occupant and the terms of the Sublease as Landlord may reasonably request. Tenant may also submit to Landlord in writing from time to time prior to submitting the text of such proposed Sublease,
information concerning the identity and financial worth of a proposed Occupant. Landlord agrees that it will respond promptly after receipt of any such information or of such proposed Sublease, and notify Tenant whether the proposed Sublease or
Occupant are approved and, if the same are not approved, the reasons for such disapproval. A copy of all Subleases shall be delivered to Landlord by Tenant within fifteen (15) days after the execution thereof. No Sublease permitted by this
Section 13.1 shall impose any obligations on Landlord or otherwise affect any rights of Landlord under this Lease. In all events, Tenant shall not enter into any Sublease with any Prohibited Tenant. Notwithstanding anything
to the contrary, in the event that this Lease is terminated for any reason, or if Tenant rejects this Lease in the course of a bankruptcy proceeding, in either event prior to the Expiration Date, then at Landlord’s option (on a case by case
basis), and subject to the provisions of Article VI hereof, the Occupants shall attorn to Landlord and recognize Landlord as landlord under the applicable Sublease, under the terms set forth in Section 13.4(b) below and
otherwise under the terms and conditions and at the rental rate specified in the 

  
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applicable Sublease, and for the then remaining term of the applicable Sublease. Without limiting Tenant’s obligations under Section 15.4 below, Tenant hereby
agrees to provide prompt notice to Landlord of any claimed defaults under any Sublease together with copies of any written notices thereof received by Tenant. 

13.2    Rent and Charges to Occupants. Tenant shall not impose or collect any rent or other charge under any
Sublease in any way relating to the use or occupancy of any part of the Premises which is based on the “income” or “profits” of any person so as to render any part of the Rent payable under this Lease “unrelated business
taxable income” to Landlord under Section 512 of the Internal Revenue Code of 1954 or successor provision. 

13.3    Estoppel Certificates. Landlord and Tenant, as the case may be, will execute, acknowledge and deliver to
each other or to the other party’s actual or prospective lender, investor or transferee, within fifteen (15) Business Days after a written request therefor, a certificate certifying: 

(a)    that this Lease is unmodified and in full force and effect (or, if there have been modifications,
that this Lease is in full force and effect as modified, and stating the modifications); 
 (b)    the
dates, if any, to which Rent and Additional Rent have been paid; 
 (c)    whether or not, to the
knowledge of Landlord or Tenant, as the case may be, there are then existing any defaults under this Lease (and if so, specifying the same); and 

(d)    such other matters relating to this Lease as may be reasonably required. 

13.4    Non-Disturbance and Attornment Agreements. 

(a)    At the request of a Leasehold Mortgagee, Landlord agrees to execute and deliver to such Leasehold
Mortgagee a non-disturbance agreement in a form reasonably requested by such Leasehold Mortgagee, provided such Leasehold Mortgagee executes and delivers an appropriate attornment agreement. 

(b)    At the request of Tenant, Landlord agrees to execute and deliver to Occupants non-disturbance agreements containing reasonable terms on forms approved by Landlord and prepared by Tenant, provided that (i) any such Occupant also executes and delivers an attornment agreement
containing commercially reasonable terms, (ii) if any such request relates to a Sublease or proposed Sublease which was not previously approved by Landlord pursuant to Section 13.1, Tenant shall provide a copy of such
Sublease or proposed Sublease to Landlord concurrently with such request (if Tenant has not previously provided a copy of such Sublease to Landlord), and (iii) Landlord shall not be obligated to assume any obligations to lease or otherwise
provide or make available to the Occupant space or appurtenant rights (including without limitation, parking) at or relating to any property other than the Premises unless the owner of such property grants such space or appurtenant rights to
Landlord for the duration of such sublease or proposed sublease (an “Appurtenant Grant”), in which event Landlord shall agree to provide or make available such space or appurtenant rights subject to the terms of the
Appurtenant Grant. If Landlord reasonably believes that any Occupant’s Sublease violates Section 5.1, or otherwise constitutes a breach of obligations contained in a Leasehold Mortgage or this Lease then, Landlord
shall have no obligation to execute and deliver a non-disturbance agreement with respect thereto. 

  
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 ARTICLE XIV. 

NON-DISCRIMINATION AND AFFIRMATIVE ACTION 

14.1    Compliance with Equal Opportunity Laws and Regulations. Tenant shall comply with all applicable Legal
Requirements in effect from time to time pertaining to Equal Employment, Anti-Discrimination and Affirmative Action, including executive orders and rules and regulations of appropriate Governmental Authorities, unless Tenant is otherwise exempt
therefrom. 
 14.2    Information and Reports. Tenant will provide all information and reports pertinent to
Landlord’s Equal Employment, Anti-Discrimination and Affirmative Action requirements reasonably requested by Landlord and will permit access to its facilities and any of its books, records, or other sources of information which may be
reasonably determined by Landlord to affect Tenant’s obligation hereunder. 
 14.3    Notices to Occupants,
Contractors and Vendors. Tenant will include the provisions of Section 14.1 with every contract or purchase order, and will require the inclusion of these provisions in every subcontract entered into by any of its
contractors and vendors, so that such provisions will be binding upon each such contractor and vendor, as the case may be. 
 ARTICLE XV.

 REPRESENTATIONS AND WARRANTIES; AFFIRMATIVE COVENANTS 

15.1    Representations and Warranties. The parties hereto each represent and warrant with respect to themselves:

 (a)    The execution hereof and the performance of the obligations herein described have been duly
authorized by each of the respective parties. 
 (b)    Each party has full power and authority to enter
into this Lease and this Lease and any agreements to be executed herewith or pursuant hereto are or will be, upon execution, the duly executed, legal, valid and binding obligations of each of the respective parties, enforceable in accordance with
their terms as the same may be limited by bankruptcy, insolvency or similar laws affecting the rights of creditors generally. 

(c)    This Lease and the agreements to be executed herewith are not in conflict with any joint venture
agreement, charter, statutory authority, or any indenture agreement or other instrument to which any party hereunder is a party or by which any party hereto is bound. 

(d)    There is no litigation or administrative proceeding pending or anticipated which would in any
material way affect the ability of the party making the warranty to carry out its obligations under this Lease or which would otherwise materially affect the Premises. 

15.2    Maintenance of Business and Existence. Tenant hereby covenants and agrees that, during the Term of this
Lease, Tenant shall do all things necessary to preserve, renew, and keep in full force and effect its corporate existence and rights and franchises necessary to continue its business and preserve and keep in force and effect all licenses and permits
necessary for the proper conduct of its business, unless prior written approval of Landlord is obtained. 

15.3    Conduct of Business. Tenant hereby covenants and agrees that, during the Term of this Lease, Tenant will
conduct and maintain the business of the operation of the Premises in compliance, in all material respects, with all applicable Legal Requirements and in accordance with this Lease. 

  
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 15.4    Notification of Defaults. Tenant hereby covenants and
agrees that, during the Term of this Lease, Tenant will promptly notify Landlord of default or breach of conditions, if any, in connection with the payment or performance of any other material obligation of Tenant, whether or not the applicable
creditor or obligee elects to declare the obligations of Tenant under the applicable agreement due and payable or to exercise any other right or remedy available to such creditor or obligee, if such creditor’s or obligee’s rights and
remedies may involve or result in (i) the taking of possession of the Premises or (ii) the assertion of any other right or remedy that may impair Tenant’s ability to punctually perform all of its obligations under this Lease. 

15.5    Notification of Disputes. Tenant hereby covenants and agrees that, during the Term of this Lease, Tenant
will promptly notify Landlord of any materially adverse claims, actions or proceedings affecting the Premises or the performance of its obligations under this Lease. 

15.6    Notification of Attachments. Tenant hereby covenants and agrees that, during the Term of this Lease, Tenant
will promptly notify Landlord of any levy, attachment, execution or other process against its assets, which will materially adversely affect the Premises or the performance of its obligations under this Lease. 

15.7    Reports. Tenant hereby covenants and agrees that, during the Term of this Lease, Tenant will provide
Landlord with copies of any reports that it furnishes to or receives from any Governmental Authorities relative to the Premises, provided that from and after any Leasehold Mortgage Foreclosure, any Transferee shall only be required to provide to
Landlord a copy of any notice received by such Transferee from any Governmental Authority alleging a violation of any Legal Requirement relating to the Premises. 

15.8    Further Assurances. Upon request, Tenant hereby covenants and agrees that, during the Term of this Lease,
Tenant will execute and deliver, or cause to be executed and delivered, such further instruments and do or cause to be done such further acts, as may reasonably be necessary or proper to carry out the intent and purpose of this Lease. 

15.9    Current Information. Tenant hereby covenants and agrees that, during the Term of this Lease, Tenant will
promptly furnish Landlord from time to time current information which changes in any material adverse manner information previously submitted to Landlord by Tenant. 

15.10    Reimbursement Rights. Tenant hereby covenants and agrees that, during the Term of this Lease, Tenant will
reimburse Landlord for all reasonable legal expenses incurred by Landlord in connection with all requests by Tenant for consent, approval or review of any documents requested (a) in connection with any Leasehold Mortgage, (b) if
Landlord’s consent or approval is required under the terms of this Lease, and (c) in connection with any recognition agreement described in Article XII. Landlord will reimburse Tenant for all reasonable legal expenses incurred by Tenant in
connection with all requests by Landlord for consent, approval or review of any documents requested (i) in connection with any Fee Mortgage and (ii) if Tenant’s consent or approval is required under the terms of this Lease. 

15.11    General Tenant Covenant. Tenant hereby covenants and agrees that, during the Term of this Lease, Tenant
will perform and observe, or cause to be performed and observed, all the terms, covenants, conditions and agreements provided in this Lease and in any amendments hereto to be performed or observed by Tenant. 

15.12    General Landlord Covenant. Landlord hereby covenants and agrees that, during the Term of this Lease and
with regard to matters related to this Lease, Landlord will perform and observe, or cause to be performed and observed, all the terms, covenants, conditions and agreements provided in this Lease and in any amendments hereto to be so performed and
observed by Landlord. 

  
 34 

 15.13    No Material Interference. Landlord hereby covenants and
agrees that, during the Term of this Lease and with regard to matters related to this Lease, Landlord shall refrain from taking any action that would impose deed restrictions or other encumbrances on title that would materially interfere with or
adversely affect (a) Tenant’s ability to exercise its rights and fulfill its obligations under this Lease, or (b) the marketability of title or the market value of the Premises. Any Fee Mortgage granted by Landlord shall be expressly
subject and subordinate to this Lease (and any new lease entered into pursuant to Section 6.4) and concurrently with the execution and delivery of any Fee Mortgage, Landlord shall obtain and deliver to Tenant a commercially
reasonable agreement by the applicable Fee Mortgagee, pursuant to which (x) the applicable Fee Mortgagee consents to this Lease, acknowledges that the Fee Mortgage is subject and subordinate to this Lease (and any new lease entered into
pursuant to Section 6.4), agrees that with respect to any and all Net Proceeds recovered or recoverable in connection with a fire or other casualty relating to the Premises, and with respect to any and all Net Awards
recovered or recoverable in connection with any Taking, the rights of the Leasehold Mortgagee as set forth in this Lease shall be superior, in all respects, to the rights of the Fee Mortgagee and agrees that, notwithstanding the terms of the
applicable Fee Mortgage held by such Fee Mortgagee, or any default, expiration, termination, foreclosure, sale, entry or other act or omission under or pursuant to such Fee Mortgage, or the Fee Mortgagee’s exercise of any of its rights and/or
remedies under the Fee Mortgage or a transfer in lieu of foreclosure, Tenant shall not be disturbed in peaceful enjoyment of the Premises nor shall this Lease be terminated or cancelled at any time, except in the event that Landlord shall have the
right to terminate this Lease under the terms and provisions expressly set forth herein and (y) Tenant shall agree that Tenant will attorn to and recognize such Fee Mortgagee or the purchaser at any foreclosure sale or any sale under a power of
sale contained in any such Fee Mortgage or the transferee accepting an assignment in lieu of foreclosure as Landlord under this Lease for the balance of the Term of this Lease then remaining. 

ARTICLE XVI. 
 MISCELLANEOUS
PROVISIONS 
 16.1    Designation of Authorized Representatives. Landlord and Tenant shall each designate an
authorized representative or representatives to be responsible for granting the approvals and concurrences required pursuant to this Lease and for maintaining communications between the parties. Landlord hereby designates the Manager of Landlord as
the party in charge of Landlord’s interest in the Premises and further designates Steven C. Marsh, and/or such other Persons as Landlord may designate from time to time, as the authorized representative for Landlord for purposes of this Lease.
Tenant hereby designates the Manager of Tenant as the party in charge of Tenant’s interest in the Premises and further designates Steven C. Marsh, and/or such other Persons as Tenant may designate from time to time, as the authorized
representative for Tenant for the purposes of this Lease. Each party shall be entitled to rely on concurrences or approvals of the other party’s authorized representative until such time as a party receives notice from the other party revoking
the authority of such authorized representative and designating a replacement. 
 16.2    No Merger of Title.
There shall be no merger of the leasehold estate created by this Lease with the fee estate in the Premises by reason of the fact that the same person or entity may own or hold (a) the leasehold estate created by this Lease or any interest in
such leasehold estate, and (b) the fee estate in the Premises or any interest in such fee estate; and no such merger shall occur without the prior written consent of any Leasehold Mortgagee (which consent may be withheld in the Leasehold
Mortgagee’s sole and absolute discretion) unless and until all Persons, including Landlord, any Fee Mortgagee and any Leasehold Mortgagee, having any interest in (i) the leasehold estate created by this Lease, or (ii) the fee estate
in the Premises, shall join in a written instrument affirming their intent to effect such merger and shall duly record the same. 

  
 35 

 16.3    No Waiver. The failure of either party to insist in any
one or more cases upon the strict performance of any of the covenants of this Lease, or to exercise any option or election herein contained, shall not be construed as a waiver or relinquishment for the future of such covenant, option or election
unless this Lease specifies otherwise. A receipt by Landlord of Rent with knowledge of the breach of any covenant herein shall not be deemed a waiver of such breach. 

16.4    No Broker. Landlord and Tenant each represents to the other that there was no broker involved in
consummating this Lease and that, to the best of its knowledge, there is no broker entitled to a commission in connection with this Lease. 

16.5    Arbitration. Whenever, pursuant to the terms of this Lease, Tenant and Landlord cannot agree upon, under
the provisions of Article X or Article IX, the allocation of the Net Award, the allocation of Net Proceeds, or the amount of any abatement of Rent under Section 10.6 hereof, the following procedure shall be
followed: If the parties cannot agree upon the matter to be determined, then the determination of such matter, upon the election of either Landlord or Tenant, shall be submitted to arbitration as follows: the matter shall be determined by impartial
arbitrators, one to be chosen by Tenant, one to be chosen by Landlord, and a third to be selected, if necessary, as below provided. Such impartial arbitrators shall be qualified, independent real estate professionals with experience with properties
of a size and character similar to the Premises. The unanimous written decision of the two (2) arbitrators first chosen (without selection and participation of a third arbitrator), or otherwise the written decision of a majority of three
(3) arbitrators chosen as hereinafter provided, shall be conclusive and binding upon Landlord and Tenant. Landlord and Tenant shall each notify the other of its chosen arbitrator within ten (10) days following the call for arbitration and,
unless such two (2) arbitrators shall have reached a unanimous decision within thirty (30) days after their designation, they shall select an impartial third arbitrator. Such third arbitrator and the first two (2) chosen shall render
their decision within thirty (30) days following the date of appointment of the third arbitrator and shall notify Landlord and Tenant thereof. Judgment may be entered in any court of competent jurisdiction upon an award reflecting the decision
of such arbitrators. Landlord and Tenant shall divide equally all expenses of arbitration. Any Leasehold Mortgagee shall have the right to receive notice of any and all arbitration proceedings undertaken pursuant to this
Section 16.5, and shall have the right to participate in such arbitration proceedings as an interested party. 

16.6    Consents and Approvals. Except as herein otherwise expressly provided, wherever in this Lease the consent
or approval of Landlord, Tenant or a Leasehold Mortgagee is required, such consent or approval shall not be unreasonably withheld, delayed or qualified and shall be in writing signed by an authorized representative (designated pursuant to the
provisions of Section 16.1) of the party granting such consent or giving such approval. Unless otherwise specifically provided herein, the party requesting consent or approval is entitled to a decision either granting or
denying (with reasons for any denial specified) such request within thirty (30) days of the receipt of such request, and if no response is received within such 30-day period, then the requesting party may
send a second notice requesting consent or approval, which second notice shall make express reference to this Section 16.6. If there is no response to such second notice, within ten (10) days after delivery of such
second notice, then such approval or consent shall be deemed to have been granted. 
 16.7    Time of Essence.
Time is of the essence of this Lease, and the parties hereto shall diligently, promptly and punctually perform the obligations required to be performed by each of them and shall diligently, promptly and punctually attempt to fulfill the conditions
applicable to each of them, it being understood that the date by which either party is required to perform any obligation under this Lease shall be determined by taking into account the provisions of Section 11.10, if
applicable. 
 16.8    Due Diligence and Good Faith. Both parties agree to pursue in good faith and with due
diligence the purposes set forth herein and all acts in furtherance thereof, specifically including all acts required of either party by the terms hereof. 

  
 36 

 16.9    Survival of Obligations. All of the obligations,
representations, warranties and covenants made in this Lease shall be deemed to have been relied upon by the party to which they were made and to be material and shall survive the execution of this Lease and the expiration or any earlier termination
of the Term of this Lease to the extent that they are by their terms, or by a reasonable interpretation of the context, to be performed or observed or relied upon after the execution of this Lease and the expiration or any earlier termination of the
Term of this Lease. 
 16.10    Invalidity of Provisions. If any one or more of the phrases, sentences, clauses
or paragraphs contained in this Lease shall be declared invalid by the final and nonappealable order, decree or judgment of any court, this Lease shall be construed as if it did not contain such phrases, sentences, clauses or paragraphs,
provided that such construction does not substantially alter the material benefits and burdens of the respective parties as set forth in this Lease. 

16.11    Binding Effect. Except as otherwise provided in this Lease, all of the covenants, conditions and
obligations contained in this Lease shall be binding upon and inure to the benefit of the respective authorized successors and assigns of Landlord and Tenant to the same extent as if each such successor and assign were in each case named as a party
to this Lease. Any Person acquiring any or all of the rights, title and interest of Tenant in and to the leasehold estate in the Premises by virtue of any Leasehold Mortgage Foreclosure shall thereby become liable under and be fully bound by all of
the provisions of this Lease (except as otherwise provided in this Lease) and, with the prior written consent of Landlord, Tenant may be fully or partially released from its obligations under this Lease. 

16.12    Pronouns. Whenever the context may require, any pronouns used in this Lease shall include the
corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa. 

16.13    Rights of Others. Landlord and Tenant acknowledge and agree that each Leasehold Mortgagee is intended to
be a third party beneficiary of Article VI and every other provision set forth herein relating to the Leasehold Mortgages and Leasehold Mortgagees and shall be entitled to enforce the same to the fullest extent and in all respects as if such
Leasehold Mortgagee were a direct party hereto. Except as expressly set forth herein, nothing in this Lease is intended to confer upon any Person other than the parties hereto and their authorized successors and assigns, any rights or remedies under
or by reason of this Lease. 
 16.14    Amendments. This Lease may not be amended, changed, modified or
discharged except by an instrument in writing signed by Landlord and Tenant and, if applicable, consented to by any Leasehold Mortgagee. 

16.15    Captions and Headings. The captions and headings throughout this Lease are for convenience and reference
only, and they shall in no way be held or deemed to define, modify or add to the meaning, scope or intent of any provisions of this Lease. 

16.16    Governing Law. This Lease shall be governed by and interpreted under the laws of the Commonwealth of
Massachusetts. 
 16.17    Limitation of Liability. Tenant shall neither assert nor seek to enforce any claim
against Landlord or any of Landlord’s agents (including without limitation its property manager), contractors or employees, or the assets of any of the foregoing, for breach of this Lease or otherwise, other than against Landlord’s
interest in the Premises and in the uncollected rents, issues and profits thereof, and Tenant agrees to look solely to such interest for the satisfaction of any liability of Landlord under this Lease. This Section 16.17
shall not limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord. Landlord and Tenant specifically agree that in no event shall any officer, director, trustee, 

  
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employee or representative of Landlord or any of Landlord’s agents, contractors or employees ever be (a) personally liable for any obligation under this Lease, nor (b) liable for
consequential or incidental damages or for lost profits whatsoever in connection with this Lease. 
 ARTICLE XVII. 

NOTICES AND PAYMENTS 

17.1    Notices, Demands and Other Installments. Unless otherwise expressly permitted by the terms of this Lease,
all notices, demands, submissions, requests, consents, approvals and other instruments required or permitted to be given pursuant to the terms of this Lease shall be in writing and shall be deemed to have been properly given if delivered by hand
personally to the addressee (which shall include delivery by commercial courier service or recognized overnight delivery service such as Federal Express) or sent by registered or certified United States mail, postage prepaid, return receipt
requested, and 
  

	 	(1)	 if directed to Landlord addressed to: 

MIT 139 Main Street Fee Owner LLC 

c/o MIT Cambridge Real Estate LLC 

238 Main Street, Suite 200 

Cambridge, MA 02142 
 Attn:
President 
 with copies to: 

MIT 139 Main Street Fee Owner LLC 

c/o MIT Cambridge Real Estate LLC 

238 Main Street, Suite 200 

Cambridge, MA 02142 
 Attn:
Director of Real Estate Legal Services 
  
                                
          
                                
          
                                
          
                                
          
 and by email to
mitimcore@mitimco.mit.edu 
  

	 	(2)	 if directed to Tenant addressed to: 

MIT 139 Main Street Leasehold LLC 

c/o MIT Investment Management Company 

238 Main Street, Suite 200 

Cambridge, MA 02142 
 Attn:
Steven C. Marsh 
 with copies to: 

MIT 139 Main Street Fee Owner LLC 

c/o MIT Cambridge Real Estate LLC 

238 Main Street, Suite 200 

Cambridge, MA 02142 
 Attn:
Director of Real Estate Legal Services 

  
 38 

            
                             

            
                             

            
                             

            
                             

and by email to mitimcore@mitimco.mit.edu 

or to such other address as may from time to time be specified in writing by any party hereto. All notices delivered in accordance with the terms hereof shall
be deemed to have been given upon receipt or refusal of delivery, whichever first occurs. Unless otherwise specified in writing, each party shall direct all sums payable to another party to said party’s address for notice purposes. Notice sent
to an address specified by a party in writing as its notice address shall be effective even if delivery cannot be made. 
 ARTICLE XVIII.

 ABANDONMENT 

18.1    Abandonment during Last 20 Years. If, during the last twenty (20) years of the Term, Tenant shall
abandon the Premises
                                         
                                         
                                         
                                         
                                         
         
                                         
                                         
                                         
                                         
                                         
          
                                
                                         
                                         
                                         
                                         
                   
                                         
                                         
                                         
                                         
                                         
          
                                
                                         
                                         
                                         
                                         
                   
                                         
                                         
                                         
                                         
                                         
          
                                
                                         
                                         
                                         
                                         
                   
                                         
                                         
                                         
                                         
                                         
          
                                
                                         
                                         
                                         
                                         
                   
                                         
                                         
                                         
                                         
                                         
          

ARTICLE XIX. 
 LANDLORD’S
RIGHT TO PURCHASE TENANT’S LEASEHOLD 
 19.1    Purchase Option. 

(a)    Landlord shall have the right, upon at least six (6) months’ written notice to Tenant
(“Landlord’s Purchase Notice”), to purchase (or to designate an affiliate to purchase) all of Tenant’s right, title and interest under this Lease (“Tenant’s Interest”) for a purchase
price equal to the greater of
                              
                                         
                                         
                                         
                                     
                             
                                         
                                         
                                         
                                         
             
                                         
                                         
                                         
                                         
                                         
 
                                         
                                         
                                         
                                         
                                         
 
                             
                                         
                                         
                                         
                                         
             
                                         
        herein referred to as the “Purchase Price”). 

  
 39 

 (b)    Landlord shall have the right, prior to
delivering a Landlord’s Purchase Notice, to request from time to time Tenant’s good faith determination (as of one or more dates specified in such request) of (i) the Loan Payoff, and (ii) Tenant’s Basis. Tenant shall
provide reasonably detailed evidence of such determinations to Landlord in writing within forty-five (45) days after request therefor. 

(c)    Landlord’s Purchase Notice shall include (i) the date (the “Acquisition
Date”) on which Landlord’s acquisition of Tenant’s Interest shall close, which date shall be no less than six (6) months after the date of Landlord’s Purchase Notice, and (ii) Landlord’s good faith
determination of the FMV. Notwithstanding anything to the contrary contained herein, the Acquisition Date shall not occur prior to the date on which any Leasehold Mortgage then in effect may be prepaid or defeased in full (as set forth in the
applicable notice(s) delivered to Landlord in accordance with Section 6.1 above). 

(d)    Within forty-five (45) days after Tenant’s receipt of Landlord’s Purchase Notice,
Tenant shall deliver to Landlord a written notice (“Tenant’s Valuation Notice”) in which shall be included (i) Tenant’s good faith determination of the Loan Payoff as of the Acquisition Date, which
determination shall be consistent with any determination provided by Tenant pursuant to subsection (b) above within the previous twelve (12) months, (ii) Tenant’s good faith determination of Tenant’s Basis as of the Acquisition
Date, which determination shall be consistent with any determination provided by Tenant pursuant to subsection (b) above within the previous twelve (12) months, it being understood and agreed that Tenant’s determination of
Tenant’s Basis shall be supported by a certification executed by Tenant’s certified public accountant as to the calculation thereof, (iii) Tenant’s acknowledgement that Tenant agrees with Landlord’s determination of the FMV
or, if Tenant does not agree with such determination by Landlord, reasonably detailed evidence of Tenant’s good faith determination of the FMV, and (iv) Tenant’s determination of the Purchase Price in accordance with subsection
(a) above. Upon Landlord’s request, Tenant shall provide Landlord with all documents and other evidence supporting Tenant’s good faith determinations of the Loan Payoff and Tenant’s Basis, including, without limitation, a payoff
notice or letter from all applicable Leasehold Mortgagees and the certification from Tenant’s certified public accountant as to the calculation of Tenant’s Basis. 

(e)    Within thirty (30) days after Landlord’s receipt of Tenant’s Valuation Notice,
Landlord shall have the right, by written notice to Tenant, to rescind the applicable Landlord’s Purchase Notice, in which event this Lease shall continue in full force and effect. 

(f)    If the Purchase Price will be equal to the FMV and Landlord and Tenant are unable to agree on the
FMV within thirty (30) days after the date of Tenant’s Valuation Notice, then unless Landlord has timely rescinded the applicable Landlord’s Purchase Notice, either party may submit the matter to arbitration by giving notice (a
“Dispute Notice”) to the other party. Within ten (10) days after delivery of a Dispute Notice, Tenant and Landlord shall each notify the other, in writing, of their respective selections of an appraiser (respectively,
“Landlord’s Appraiser” and “Tenant’s Appraiser”). If Landlord’s Appraiser and Tenant’s Appraiser are able to reach agreement, then such agreement shall be binding on both Landlord
and Tenant. If Landlord’s Appraiser and Tenant’s Appraiser are unable to reach agreement within forty (40) days after the Dispute Notice, Landlord’s Appraiser and Tenant’s Appraiser shall jointly select a third appraiser
(the “Third Appraiser”). All of the appraisers selected shall be individuals with at least ten (10) consecutive years’ commercial appraisal experience in the area in which the Premises are located, shall be

  
 40 

 
members of the Appraisal Institute (M.A.I.), and, in the case of the Third Appraiser, shall not have acted in any capacity for either Landlord or Tenant within five (5) years of his or her
selection. The three appraisers shall determine the FMV in accordance with the requirements and criteria set forth in subsection (a) above, employing the method commonly known as Baseball Arbitration, whereby Landlord’s Appraiser and
Tenant’s Appraiser each sets forth reasonably detailed evidence supporting its determination of the FMV, and the Third Appraiser must select one or the other (it being understood that the Third Appraiser shall be expressly prohibited from
selecting a compromise figure). Landlord’s Appraiser and Tenant’s Appraiser shall deliver their determinations of the FMV to the Third Appraiser within fifteen (15) days of the appointment of the Third Appraiser and the Third
Appraiser shall render his or her decision within thirty (30) days after receipt of both of the other two determinations. The Third Appraiser’s decision shall be binding on both Landlord and Tenant. Each party shall bear the cost of its
own appraiser and the cost of the Third Appraiser shall be borne by the party whose determination is not selected. Within thirty (30) days after determination of the FMV in accordance with this Section 19.1(f),
Landlord shall have the right, by written notice to Tenant, to rescind the applicable Landlord’s Purchase Notice, in which event this Lease shall continue in full force and effect and Landlord shall reimburse Tenant for all of Tenant’s
reasonable out of pocket costs and expenses incurred in connection with the appraisal process described in this subsection (f). 

(g)    Between the date on which Tenant receives Landlord’s Purchase Notice and the Acquisition Date,
unless Landlord rescinds the applicable Landlord’s Purchase Notice in accordance with the terms of this Section 19.1, Tenant shall not (i) refinance any Leasehold Mortgage then in effect unless (A) the term
thereof shall expire during such period, or (B) Tenant shall have entered into a binding agreement to do so prior to receipt of Landlord’s Purchase Notice; nor (ii) make any capital repairs or replacements to the Premises which would
result in an increase to the Purchase Price unless (A) required to be made prior to the Acquisition Date by Space Leases then in effect or by Legal Requirements, or (B) reasonably necessary to maintain safety and avoid injury or damage to
persons or property. Tenant shall provide Landlord with prior written notice of any such refinancing and/or capital repairs or replacements made pursuant to this subsection (g) (except with respect to capital repairs and replacements made in an
emergency, in which event notice shall be given promptly after the making of such capital repairs or replacements). 

(h)    At least sixty (60) days and no more than ninety (90) days prior to the Acquisition Date,
Tenant shall provide Landlord with a written list of all service contracts in effect with respect to the Premises, which list shall be accompanied by copies of all such service contracts. At least thirty (30) days prior to the Acquisition Date,
Landlord shall notify Tenant whether Landlord elects to assume any of such contracts, to the extent assignable. 

19.2    Termination Fee. If Landlord elects to purchase Tenant’s Interest pursuant to
Section19.1,
                              
                  
                                         
                                         
                                       it being understood that Tenant’s actual damages may be difficult to ascertain. 

19.3    Closing. 

(a)    On the Acquisition Date, Landlord shall: 

(i)    execute and deliver to Tenant (A) either (1) a notice of termination of this Lease in
recordable form and otherwise reasonably acceptable to Landlord and Tenant (the “Notice of Termination”) (it being acknowledged and agreed that Landlord shall have the right to record and/or file with the Middlesex South
Registry of Deeds and/or the Middlesex South Registry 

  
 41 

 
District of the Land Court, as appropriate, a fully executed original of the Notice of Termination), if Landlord elects not to keep this Lease in full force and effect after the Acquisition Date,
or (2) an assignment and assumption of leases with respect to all Space Leases, in form reasonably approved by the parties hereto (the “Lease Assignment”), if Landlord elects to keep this Lease in full force and effect
after the Acquisition Date, (B) an assignment and assumption agreement in form and substance reasonably approved by the parties hereto with respect to any service contracts Landlord elects to assume, to the extent assignable (the
“Contract Assignment”), if any, (C) a settlement statement setting forth the Purchase Price, the
                 any security deposit(s) paid under
any Space Leases (hereinafter defined) and appropriate adjustments for the income and expenses of the Premises (including, without limitation, Taxes and rents paid pursuant to Space Leases) and other items customarily apportioned on the date of a
real estate acquisition in the Commonwealth of Massachusetts and otherwise in form and substance reasonably approved by the parties hereto (the “Settlement Statement”), (D) Landlord’s Statement (hereinafter
defined), (E) an Assignment and Assumption of Intangibles in form reasonably acceptable to Landlord and Tenant (the “Assignment”) with respect to Tenant’s right, title and interest, if any, in, to and under (1) all
occupancy certificates or permits or their local equivalent issued in the name of Tenant relating to, or used by Tenant in connection with the operation and maintenance of, the Premises, (2) all plans and specifications and governmental
approvals that exist as of the Acquisition Date and relate exclusively to the operation and maintenance of the Premises, and (3) all warranties and guaranties relating to the Premises, to the extent the same are assignable and in force and
effect (the “Warranties”), and (F) such other documents and instruments as may reasonably be required to consummate the transaction contemplated hereby and otherwise to effect the agreements of the parties hereto,
provided in all events the same are consistent with this Section 19 and are customarily provided by purchasers of property interests similar to Tenant’s Interest and located in the county in which the Premises
are located (all of the foregoing documents, “Landlord’s Closing Documents”); and 

(ii)    pay to Tenant the amount reflected on the Settlement Statement as being due from Landlord. 

(b)    On the Acquisition Date, Tenant shall: 

(i)    execute and deliver to Landlord (A) the Notice of Termination or Lease Assignment, as
applicable, (B) the Contract Assignment, if applicable, (C) Settlement Statement, (D) the Assignment, (E) an affidavit, duly executed by Tenant, to the effect that Tenant is a citizen or resident of the United States and
specifying its taxpayer identification number, (F) such affidavits as Landlord’s title company may require in order to issue, without extra charge, policies of title insurance free of any exceptions for unfiled mechanic’s or
materialmen’s liens or parties in possession, and such reasonable affidavits for so-called “gap” coverage, (G) such other documents and instruments as may reasonably be required to
consummate the transaction contemplated hereby and otherwise to effect the agreements of the parties hereto, provided in all events the same are consistent with this Section 19 and are customarily provided by sellers of
property interests similar to Tenant’s Interest and located in the county in which the Premises are located, (H) the bill of sale contemplated by Section 5.6, and (I) Tenant’s Statement (hereinafter
defined) (all of the foregoing are collectively referred to as “Tenant’s Closing Documents”); 

(ii)    deliver to Landlord (A) reasonable evidence of the termination of all property and asset
management agreements, brokerage agreements and service contracts not assumed by Landlord, (B) all keys for the Improvements, including without limitation keys for maintenance shops, storage rooms and maintenance equipment, with identification
of the lock to which each such key relates, and (C) the Property Information (hereinafter defined); provided,  

  
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however, the Property Information shall not be a closing delivery, but, instead, shall be left at the Premises for Landlord and, upon Closing, shall become the property of Landlord,
provided that the purchaser has the right, at its expense, to retain copies of any or all of the Property Information; and 

(iii)    cause to be recorded and/or filed, as appropriate, releases, terminations and/or discharges of all
(A) Leasehold Mortgages, and (B) all other covenants, restrictions, reservations, liens, conditions, easements and other encumbrances affecting the Premises other than (1) as may have been expressly consented to by Landlord in
writing; or (2) which are of record as of the Commencement Date. 
 (c)    For purposes hereof, the
“Property Information” shall mean all leases, licenses and use agreements for space at the Premises (“Space Leases”) then in effect, real estate tax bills for the previous three (3) fiscal years,
all Warranties and all other documents, files, materials, data, drawings, plans and information relating to the operation, leasing, then-current maintenance and management of the Premises, including without limitation, property maintenance and
operating contracts, engineering reports, inspection reports, environmental reports, building plans and building permits. 

(d)    For purposes hereof, the “Landlord’s Statement” shall mean a
certification by Landlord for the benefit of Tenant that the following representations are true as of the Acquisition Date (or identifying any of the following representations which are not true and correct and explaining the state of facts giving
rise to the same; it being understood that the failure of any of the following representations to be true shall entitle Tenant to either (1) postpone the closing by one or more notices to Landlord for up to ninety (90) days in the
aggregate, during which period Landlord shall use good faith diligent efforts to make such representation true, or (2) nullify Landlord’s Purchase Notice, or (3) waive such failure and proceed to close on the sale of Tenant’s
Interest): (a) the execution, delivery and performance of Landlord’s obligations under this Section 19 have been duly authorized by all necessary action on the part of Landlord and do not require the consent of any
third party not already obtained and that the individual executing Landlord’s Closing Documents on behalf of Landlord has the authority to bind Landlord to the terms of thereof; (b) all documents that are to be executed by Landlord on the
Acquisition Date have been duly authorized by all necessary action on the part of Landlord; (c) all such documents are legal, valid and binding obligations of Landlord, enforceable in accordance with their terms except as such enforceability
may be limited by (i) applicable bankruptcy, insolvency, receivership, reorganization, fraudulent conveyance, moratorium, and other similar statutory or decisional laws, enacted or in effect at any time, pertaining to the relief of debtors or
affecting the rights and remedies of creditors or secured parties generally, (ii) the application by courts of competent jurisdiction of policies or laws determined to have a paramount public interest; (iii) determinations as to specific
provisions contained in such documents being unenforceable by reason of the same being contrary to generally applicable principles of public policy; (iv) the exercise of judicial or administrative discretion; or (v) general principles of
equity; (d) Landlord is duly organized and in good standing under the laws of its state of organization and has the power and authority to enter into and perform its obligations under this Section 19 and
Landlord’s Closing Documents.; (e) neither the execution and delivery of Landlord’s Closing Documents by Landlord nor the consummation of the transactions contemplated hereby conflict with, or constitute a violation or breach by
Landlord of, any provision of Landlord’s organizational documents or any contract or judicial or administrative order to which Landlord is a party or by which Landlord is bound; (f) Landlord has not filed any petition seeking or
acquiescing in any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law relating to bankruptcy or insolvency, nor has any such petition been filed against Landlord; and (g) Landlord is
not insolvent and the consummation of the transactions contemplated by this Section 19 shall not render Landlord insolvent. 

  
 43 

 (e)    For purposes hereof, the
“Tenant’s Statement” shall mean a certification by Tenant for the benefit of Landlord that the following representations are true as of the Acquisition Date (or identifying any of the following representations which is
not true and correct and explaining the state of facts giving rise to the same; it being understood that the failure of any of the following representations to be true shall entitle Landlord to either (1) postpone the closing by one or more
notices to Tenant for up to ninety (90) days in the aggregate, during which period Tenant shall use good faith diligent efforts to make such representation true, or (2) rescind Landlord’s Purchase Notice, or (3) waive such
failure and proceed to close on the acquisition of Tenant’s Interest): (a) the execution, delivery and performance of Tenant’s obligations under this Section 19 have been duly authorized by all necessary action on
the part of Tenant and do not require the consent of any third party not already obtained and that the individual executing Tenant’s Closing Documents on behalf of Tenant has the authority to bind Tenant to the terms of thereof; (b) all
documents that are to be executed by Tenant on the Acquisition Date have been duly authorized by all necessary action on the part of Tenant; (c) all such documents are legal, valid and binding obligations of Tenant, enforceable in accordance
with their terms except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, receivership, reorganization, fraudulent conveyance, moratorium, and other similar statutory or decisional laws, enacted or in effect at any
time, pertaining to the relief of debtors or affecting the rights and remedies of creditors or secured parties generally, (ii) the application by courts of competent jurisdiction of policies or laws determined to have a paramount public
interest; (iii) determinations as to specific provisions contained in such documents being unenforceable by reason of the same being contrary to generally applicable principles of public policy; (iv) the exercise of judicial or
administrative discretion; or (v) general principles of equity; (d) Tenant is duly organized and in good standing under the laws of its state of organization and has the power and authority to enter into and perform its obligations under
this Section 19 and Tenant’s Closing Documents; (e) neither the execution and delivery of Tenant’s Closing Documents by Tenant nor the consummation of the transactions contemplated hereby conflict with, or
constitute a violation or breach by Tenant of, any provision of Tenant’s organizational documents or any contract or judicial or administrative order to which Tenant is a party or by which Tenant is bound; (f) Tenant has not filed any
petition seeking or acquiescing in any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law relating to bankruptcy or insolvency, nor has any such petition been filed against Tenant;
(g) Tenant is not insolvent and the consummation of the transactions contemplated by this Section 19 shall not render Tenant insolvent; (h) Tenant is in compliance with the requirements of Executive Order
No. 133224, 66 Fed Reg. 49079 (September 25, 2001) (the “Order”) and other similar requirements contained in the rules and regulations of the Office of Foreign Asset Control, Department of the Treasury
(“OFAC”) and in any enabling legislation or other Executive Orders in respect thereof (the Order and such other rules, regulations, legislation, or orders are collectively called the “Orders”); (i)
Tenant (A) is not listed on the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to the Order and/or on any other list of terrorists or terrorist organizations maintained pursuant to any of the rules and
regulations of OFAC or pursuant to any other applicable Orders (such lists are collectively referred to as the “Lists”), (B) has not been determined by competent authority to be subject to the prohibitions contained in the
Orders, and (C) is not owned or controlled by, nor acts for or on behalf of, any person or entity on the Lists or any other person or entity who has been determined by competent authority to be subject to the prohibitions contained in the
Orders; (j) Tenant has not received written notice of, and to Tenant’s knowledge, there are not any, (A) actions, suits or proceedings (including arbitration proceedings) currently pending against Tenant, or relating to violations of
law (including without limitation laws relating to the 

  
 44 

 
environmental condition of the Premises) not fully remedied, or (B) condemnation actions against the Premises or any portion thereof; (k) the only Space Leases affecting the Premises
are as listed, and (1) the only property management agreements, asset management agreements, brokerage agreements and service contracts in effect on the Acquisition Date are as listed. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 45 

 IN WITNESS WHEREOF, the parties have caused this Lease to be executed as a sealed instrument
by their respective duly authorized agents, as of the date and year first set forth above. 
  

			
	LANDLORD:
	
	MIT 139 MAIN STREET FEE OWNER LLC
		
	By:	 	MIT Cambridge Real Estate LLC, its manager
		
	By:	 	 /s/ Seth D. Alexander

		 	Seth D. Alexander, President, and not individually
		 	Hereunto Duly Authorized
	
	TENANT:
	
	MIT 139 MAIN STREET FEE LEASEHOLD LLC
		
	By:	 	MIT Cambridge Real Estate LLC, its manager
		
	By:	 	 /s/ Seth D. Alexander

		 	Seth D. Alexander, President, and not individually
		 	Hereunto Duly Authorized

  
 1 

 EXHIBIT A 

LEGAL DESCRIPTION OF LAND 
 A certain
parcel of land situated and now numbered 137 to 145 Main Street in Cambridge, Middlesex County, Massachusetts, being the premises shown as Lot A on a plan entitled “Plan of Premises in Cambridge, Massachusetts, W.A. Mason & Son Co.,
Surveyors, September 13, 1926, Changes October 30, 1926”, recorded in Plan Book 385, Plan 49, said premises being bounded and described according to said plan as follows: 

 

			
		
	SOUTHERLY	  	on the Northerly side of said Main Street, ninety (90) feet;
		
	WESTERLY	  	on land now or formerly of W.R. Mason et al, one hundred four and 07/100 (104.07) feet;
		
	NORTHERLY	  	by Lot B as shown on said plan, ninety and 01/100 (90.01) feet; and
		
	EASTERLY	  	on land now or formerly of heirs of Mrs. Brooks, one hundred five and 66/100 (105.66) feet.

  
 A-1 

 EXHIBIT B 

BASE RENT SCHEDULE 
  

               
                      

               
                      

  
 B-1 

 EXHIBIT C 

LIST OF ENVIRONMENTAL REPORTS 
  

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

               
                                         
                                         
                                         
                                         
                                 

  
 C-1EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
  

 
  

CREDIT AGREEMENT 
 dated as of
May 23, 2019 
 among 
 TAO
GROUP OPERATING LLC, 
 as Borrower 

TAO GROUP INTERMEDIATE HOLDINGS LLC, 

as Intermediate Holdings 
 the
LENDERS party hereto, 
 JPMORGAN CHASE BANK, N.A. and 

U.S. BANK NATIONAL ASSOCIATION, 
 as
Joint Bookrunners and Joint Lead Arrangers 
 and 

JPMORGAN CHASE BANK, N.A., 
 as
Agent 
  
  

 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	PAGE
	
	ARTICLE I
	
	Definitions
	 SECTION 1.01.
	 	Defined Terms	  	1
	 SECTION 1.02.
	 	Classification of Loans and Borrowings	  	53
	 SECTION 1.03.
	 	Terms Generally	  	53
	 SECTION 1.04.
	 	Accounting Terms; GAAP	  	53
	 SECTION 1.05.
	 	Interest Rates; LIBOR Notification	  	54
	
	ARTICLE II
	
	The Credits
	 SECTION 2.01.
	 	Commitments	  	55
	 SECTION 2.02.
	 	Loans and Borrowings	  	55
	 SECTION 2.03.
	 	Requests for Borrowings	  	56
	 SECTION 2.04.
	 	Funding of Borrowings	  	57
	 SECTION 2.05.
	 	Interest Elections	  	57
	 SECTION 2.06.
	 	Termination and Reduction of Commitments	  	59
	 SECTION 2.07.
	 	Repayment and Amortization of Loans; Evidence of Debt	  	59
	 SECTION 2.08.
	 	Prepayment of Loans	  	61
	 SECTION 2.09.
	 	Fees	  	62
	 SECTION 2.10.
	 	Interest	  	63
	 SECTION 2.11.
	 	Alternate Rate of Interest	  	64
	 SECTION 2.12.
	 	Increased Costs	  	65
	 SECTION 2.13.
	 	Break Funding Payments	  	67
	 SECTION 2.14.
	 	Taxes	  	68
	 SECTION 2.15.
	 	Payments Generally; Pro Rata Treatment; Sharing of Setoffs	  	71
	 SECTION 2.16.
	 	Mitigation Obligations; Replacement of Lenders	  	73
	 SECTION 2.17.
	 	Defaulting Lenders	  	74
	 SECTION 2.18.
	 	Incremental Facilities	  	76
	 SECTION 2.19.
	 	Letters of Credit	  	78
	
	ARTICLE III
	
	Conditions
	 SECTION 3.01.
	 	Effective Date	  	84
	 SECTION 3.02.
	 	Each Credit Event	  	87

  
 i 

							
	ARTICLE IV	 
	
	Representations and Warranties	 
			
	 SECTION 4.01.
	 	Organization; Powers	  	 	87	 
	 SECTION 4.02.
	 	Authorization; Enforceability	  	 	88	 
	 SECTION 4.03.
	 	Governmental Approvals; No Conflicts	  	 	88	 
	 SECTION 4.04.
	 	Financial Condition; No Material Adverse Change	  	 	88	 
	 SECTION 4.05.
	 	Properties	  	 	89	 
	 SECTION 4.06.
	 	Litigation and Environmental Matters	  	 	89	 
	 SECTION 4.07.
	 	Compliance with Laws and Agreements	  	 	89	 
	 SECTION 4.08.
	 	Investment Company Status	  	 	89	 
	 SECTION 4.09.
	 	Taxes	  	 	90	 
	 SECTION 4.10.
	 	ERISA	  	 	90	 
	 SECTION 4.11.
	 	Disclosure	  	 	90	 
	 SECTION 4.12.
	 	Anti-Corruption and Sanctions	  	 	90	 
	 SECTION 4.13.
	 	EEA Financial Institutions	  	 	91	 
	 SECTION 4.14.
	 	Margin Regulations	  	 	91	 
	 SECTION 4.15.
	 	Solvency	  	 	91	 
	 SECTION 4.16.
	 	Material Contracts	  	 	91	 
	 SECTION 4.17.
	 	Real Estate and Venues	  	 	91	 
	
	ARTICLE V	 
	
	Affirmative Covenants	 
			
	 SECTION 5.01.
	 	Financial Statements and Other Information	  	 	92	 
	 SECTION 5.02.
	 	Notices of Material Events	  	 	94	 
	 SECTION 5.03.
	 	Existence; Conduct of Business	  	 	94	 
	 SECTION 5.04.
	 	Payment of Obligations	  	 	94	 
	 SECTION 5.05.
	 	Maintenance of Properties; Insurance	  	 	95	 
	 SECTION 5.06.
	 	Books and Records; Inspection Rights	  	 	95	 
	 SECTION 5.07.
	 	Compliance with Laws	  	 	96	 
	 SECTION 5.08.
	 	Use of Proceeds and Letters of Credit	  	 	96	 
	 SECTION 5.09.
	 	[Reserved]	  	 	96	 
	 SECTION 5.10.
	 	Collateral	  	 	96	 
	 SECTION 5.11.
	 	ERISA Obligations	  	 	98	 
	 SECTION 5.12.
	 	Depository Banks	  	 	98	 
	 SECTION 5.13.
	 	New Venue Agreements	  	 	98	 
	 SECTION 5.14.
	 	Post Closing Matters	  	 	98	 
	
	ARTICLE VI	 
	
	Negative Covenants	 
			
	 SECTION 6.01.
	 	Indebtedness	  	 	99	 
	 SECTION 6.02.
	 	Liens	  	 	101	 

  
 ii 

							
	 SECTION 6.03.
	 	 Fundamental Changes
	  	 	103	 
	 SECTION 6.04.
	 	 Dispositions
	  	 	104	 
	 SECTION 6.05.
	 	 Investments, Loans, Advances, Guarantees and Acquisitions
	  	 	105	 
	 SECTION 6.06.
	 	 Swap Agreements
	  	 	107	 
	 SECTION 6.07.
	 	 Restricted Payments
	  	 	107	 
	 SECTION 6.08.
	 	 Transactions with Affiliates
	  	 	108	 
	 SECTION 6.09.
	 	 Restrictive Agreements
	  	 	108	 
	 SECTION 6.10.
	 	 Sale and Leaseback Transactions
	  	 	109	 
	 SECTION 6.11.
	 	 Financial Covenants
	  	 	109	 
	 SECTION 6.12.
	 	 New Venues
	  	 	111	 
	 SECTION 6.13.
	 	 Permitted Activities of Intermediate Holdings
	  	 	111	 
	 SECTION 6.14.
	 	 Amendments or Waivers of Certain Agreements
	  	 	112	 
	 SECTION 6.15.
	 	 Amendments or Waivers with respect to Subordinated Indebtedness
	  	 	112	 
	 SECTION 6.16.
	 	 Deposit Accounts
	  	 	112	 
	 SECTION 6.17.
	 	 Amendments to Organizational Agreements
	  	 	112	 
	
	ARTICLE VII	  

	
	Events of Default	  

			
	 SECTION 7.01.
	 	 Events of Default
	  	 	112	 
	 SECTION 7.02.
	 	 Remedies Upon an Event of Default
	  	 	115	 
	 SECTION 7.03.
	 	 Application of Payments
	  	 	116	 
	
	ARTICLE VIII	  

	
	The Agent	  

			
	 SECTION 8.01.
	 	 Authorization and Action
	  	 	118	 
	 SECTION 8.02.
	 	 Administrative Agent’s Reliance, Indemnification, Etc.
	  	 	118	 
	 SECTION 8.03.
	 	 Posting of Communications
	  	 	120	 
	 SECTION 8.04.
	 	 The Agent Individually
	  	 	121	 
	 SECTION 8.05.
	 	 Successor Agent
	  	 	121	 
	 SECTION 8.06.
	 	 Acknowledgment of Lenders and Issuing Banks
	  	 	122	 
	 SECTION 8.07.
	 	 Collateral Matters
	  	 	123	 
	 SECTION 8.08.
	 	 Certain ERISA Matters
	  	 	124	 
	
	ARTICLE IX	  

	
	Miscellaneous	  

			
	 SECTION 9.01.
	 	 Notices
	  	 	126	 
	 SECTION 9.02.
	 	 Waivers; Amendments
	  	 	127	 
	 SECTION 9.03.
	 	 Expenses; Indemnity; Damage Waiver
	  	 	129	 
	 SECTION 9.04.
	 	 Successors and Assigns
	  	 	131	 

  
 iii 

							
	 SECTION 9.05.
	 	 Survival
	  	 	134	 
	 SECTION 9.06.
	 	 Counterparts; Integration; Effectiveness; Electronic Execution
	  	 	135	 
	 SECTION 9.07.
	 	 Severability
	  	 	135	 
	 SECTION 9.08.
	 	 Right of Setoff
	  	 	136	 
	 SECTION 9.09.
	 	 Governing Law; Jurisdiction; Consent to Service of Process
	  	 	136	 
	 SECTION 9.10.
	 	 WAIVER OF JURY TRIAL
	  	 	137	 
	 SECTION 9.11.
	 	 Headings
	  	 	137	 
	 SECTION 9.12.
	 	 Confidentiality
	  	 	137	 
	 SECTION 9.13.
	 	 Interest Rate Limitation
	  	 	138	 
	 SECTION 9.14.
	 	 Certain Notices
	  	 	138	 
	 SECTION 9.15.
	 	 No Fiduciary Relationship
	  	 	138	 
	 SECTION 9.16.
	 	 Non-Public Information
	  	 	139	 
	 SECTION 9.17.
	 	 Acknowledgement and Consent to Bail-In of EEA Financial
Institutions
	  	 	139	 
	 SECTION 9.18.
	 	 Obligations of the Loan Parties Only
	  	 	140	 
	 SECTION 9.19.
	 	 Acknowledgment Regarding any Supported QFCs
	  	 	140	 

  
 iv 

 Schedules: 
  

					
	 Schedule 1.01
	 	—	  	Lenders
	 Schedule 1.02
	 	—	  	Revolving Commitments
	 Schedule 1.03
	 	—	  	Term Loan Commitments
	 Schedule 1.04
	 	—	  	LC Commitments
	 Schedule 1.05
	 	—	  	Immaterial Subsidiaries
	 Schedule 3.06
	 	—	  	Disclosed Matters
	 Schedule 4.03(a)
	 	—	  	Governmental Approvals
	 Schedule 4.16
	 	—	  	Material Contracts
	 Schedule 4.17
	 	—	  	Real Estate and Venues
	 Schedule 5.14
	 	—	  	Post Closing Matters
	 Schedule 6.01
	 	—	  	Existing Indebtedness
	 Schedule 6.02
	 	—	  	Existing Liens
	 Schedule 6.05(i)
	 	 —
	  	Certain Investments
	 Schedule 6.05(j)
	 	 —
	  	Certain Investments
	 Schedule 6.08
	 	—	  	Transactions with Affiliates
	 Schedule 6.09
	 	—	  	Existing Restrictive Agreements

 Exhibits: 
  

					
	 Exhibit A
	  	—	 	Form of Assignment and Assumption
	 Exhibit B
	  	—	 	Form of Borrowing Request
	 Exhibit C
	  	—	 	Form of Interest Election Request
	 Exhibit D-1
	  	—	 	Forms of U.S. Tax Compliance Certificate (For Non-U.S. Lenders that are not Partnerships for U.S. Federal Income Tax Purposes)
	 Exhibit D-2
	  	—	 	Forms of U.S. Tax Compliance Certificate (For Non-U.S. Lenders that are Partnerships for U.S. Federal Income Tax Purposes)
	 Exhibit D-3
	  	—	 	Forms of U.S. Tax Compliance Certificate (For Non-U.S. Participants that are not Partnerships for U.S. Federal Income Tax Purposes)
	 Exhibit D-4
	  	—	 	Forms of U.S. Tax Compliance Certificate (For Non-U.S. Participants that are Partnerships for U.S. Federal Income Tax Purposes)

 CREDIT AGREEMENT, dated as of May 23, 2019 (as amended, supplemented
or otherwise modified from time to time, this “Agreement”), among TAO GROUP OPERATING LLC, as the Borrower, TAO GROUP INTERMEDIATE HOLDINGS LLC, as Intermediate Holdings, the LENDERS party hereto, and JPMORGAN CHASE BANK, N.A., as
the Agent. 
 The parties hereto agree as follows: 

ARTICLE I 
 Definitions

 SECTION 1.01. Defined Terms. As used in this Agreement, the following terms shall have the meanings specified below: 

“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing,
bear interest at a rate determined by reference to the Alternate Base Rate. 
 “Accounts” has the meaning set forth in
Article 9 of the UCC. 
 “Acquisition Agreement” means the Transaction Agreement, dated as of January 31, 2017, among
MSG, TG Merger Sub, LLC, TG Rollover Holdco LLC, Parent, Intermediate Holdings, the Borrower, Tao Group Management LLC, TG Member Representative LLC, the Management Sellers (as defined therein), the Rollover Holdco Members (as defined therein), the
Direct Rollover Members (as defined therein), the Group Entities (as defined therein), solely with respect to its rights and obligations under Section 2.03(b)(iv) and Article 14 thereof (other than Sections 14.03, 14.04 and 14.15 thereof, and
only insofar as Article 14 thereof relates to its rights and obligations under Section 2.03(b)(iv) thereof), MSG Entertainment Holdings LLC, and solely with respect to its rights and obligations under Section 9.11 and Article 14 thereof
(other than Sections 14.03, 14.04 and 14.15 thereof, and only insofar as Article 14 thereof relates to its rights and obligations under Section 9.11 thereof), MSG Parent, as the same may be amended, supplemented or otherwise modified from time
to time after the date hereof (provided, that any such amendments, supplements or other modifications that are adverse to the interests of the Lenders in any material respect shall be approved by Required Lenders). 

“Adjusted LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, an interest rate per annum
(rounded upwards, if necessary, to the next 1/100 of 1%) equal to the product of (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Fee” means the fee payable by the Borrower to the Agent pursuant to Section 2.09(b), the terms of which
are set forth in the Agent Fee Letter. 

 “Administrative Questionnaire” means an Administrative Questionnaire in a
form supplied by the Agent. 
 “Affiliate” means, with respect to a specified Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

“Agent” or “Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent.
References to Agent shall also include JPMorgan Chase Bank, N.A. acting in its capacity as “Collateral Agent” under each Security Document. 

“Agent Fee Letter” means the letter agreement dated the Effective Date between the Borrower and the Agent, and as it may be
further amended, supplemented or otherwise modified from time to time. 
 “Aggregate Commitments” means the sum of the
Commitments of all the Lenders. 
 “Aggregate Exposure” means the sum of the Aggregate Revolving Exposure and the Aggregate
Term Loan Exposure. 
 “Aggregate Revolving Commitment” means the sum of the Revolving Commitments of all the Lenders. 

“Aggregate Revolving Exposure” means the sum of the Revolving Exposures of all the Lenders. 

“Aggregate Term Loan Exposure” means the sum of the Term Loan Exposures of all the Lenders. 

“Agreement” has the meaning given to such term in the Preamble. 

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such
day, (b) the NYFRB Rate in effect on such day plus 1⁄2 of 1% and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%;
provided that for the purpose of this definition, the Adjusted LIBO Rate for any day shall be based on the LIBO Screen Rate (or if the LIBO Screen Rate is not available for such one month Interest Period, the Interpolated Screen Rate) at
approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate due to a change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime
Rate, the NYFRB Rate or the Adjusted LIBO Rate, respectively. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to Section 2.11, then the Alternate Base Rate shall be the greater of clauses (a) and (b)
above and shall be determined without reference to clause (c) above. For the avoidance of doubt, if the Alternate Base Rate as determined pursuant to the foregoing would be less than 1.00%, such rate shall be deemed to be 1.00% for purposes of
this Agreement. 

  
 2 

 “Annual Measurement Period” means each fiscal year of the Borrower (ending
on the last Sunday of each calendar year). 
 “Anti-Corruption Laws” means all laws, rules, and regulations of any
jurisdiction applicable to Intermediate Holdings or any of its Subsidiaries from time to time concerning or relating to bribery or corruption. 

“Applicable Commitment Fee Rate” means a rate per annum equal to 0.50%. 

“Applicable Margin” means (a) from the Effective Date until the date that is two (2) Business Days after the date
on which the Agent shall have received the financial statements and the related Compliance Certificate required to be delivered pursuant to Section 5.01(b) and 5.01(d) for the fiscal quarter ending on or about June 30, 2019, a percentage
per annum equal to (i) 2.50% with respect to Eurocurrency Loans, and (ii) 1.50% with respect to ABR Loans; and (b) thereafter, a percentage per annum determined by reference to the Total Leverage Ratio in effect from time to time as set forth
below: 
  

					
	Total Leverage Ratio	  	Applicable Margin
for Eurocurrency
Loans	 	Applicable Margin
for ABR Loans
	 Greater than or equal to 3.00:1.00
	  	3.50%	 	2.50%
	 Greater than or equal to 2:00:1.00 and less than 3:00:1.00
	  	3.00%	 	2.00%
	 Less than 2.00:1.00
	  	2.50%	 	1.50%

 No change in the Applicable Margin shall be effective until two (2) Business Days after the date on which the Agent shall
have received the applicable financial statements pursuant to Section 5.01(a) or (b), together with a Compliance Certificate calculating the Total Leverage Ratio pursuant to Section 5.01(d). At any time (i) the Borrower has not
submitted to the Agent the applicable information as and when required under Sections 5.01(a), (b) or (d), (ii) an Event of Default under Section 7.01(h) or (i) has occurred and is continuing or (iii) any other Event of Default (other
than any Event of Default under Section 7.01(d) in respect of (A) any breach of Section 6.11(a), (b) or (c) that has been cured pursuant to and in accordance with Section 6.11(f) and (B) any breach of
Section 6.11(e) that has been cured pursuant to and in accordance with the two provisos to Section 6.11(e)) has occurred and is continuing, if requested by the Required Lenders (which request may be retroactive to the date of the
applicable Event of Default), the Applicable Margin shall be determined as if the Total Leverage Ratio were in excess of 3.00:1.00. Without limitation of any other provision of this Agreement or any other remedy available to the Agent or Lenders
under any of the Loan Documents, to the extent that any financial statements or any information contained in any Compliance Certificate delivered pursuant to Sections 5.01(a), (b) or (d) shall be incorrect in any material respect and the
Borrower shall deliver to the Agent and the Lenders corrected financial statements or other corrected information in a Compliance Certificate (or otherwise), the 

  
 3 

 
Agent may (and at the direction of Required Lenders shall) recalculate the Applicable Margin based upon such corrected financial statements or such other corrected information, and, upon written
notice thereof to the Borrower, the Loans shall bear interest based upon such recalculated Applicable Margin retroactively from the date of delivery of the erroneous financial statements or other erroneous information in question; provided
that such retroactive recalculation shall apply only for the account of Lenders holding the applicable Loans at the time the applicable payment was received and shall cease to apply upon the payment in full of the Loans and the termination of this
Agreement. 
 “Applicable Percentage” means, with respect to any Lender, (a) with respect to Revolving Loans, LC
Exposure or Revolving Commitments, a percentage equal to a fraction the numerator of which is such Lender’s Revolving Commitments and the denominator of which is the Aggregate Revolving Commitment (if the Revolving Commitments have terminated
or expired, the Applicable Percentages shall be determined based upon the Revolving Commitments most recently in effect, giving effect to any assignments); provided that in the case of Section 2.17 when a Defaulting Lender shall exist,
any such Defaulting Lender’s Revolving Commitment shall be disregarded in the calculation and (b) with respect to the Term Loans, a percentage equal to a fraction the numerator of which is such Lender’s outstanding principal amount of
the Term Loans and the denominator of which is the aggregate outstanding principal amount of the Term Loans of all Lenders. 

“Approved Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in
commercial loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers
or manages a Lender. 
 “Arranger” means JPMorgan Chase Bank, N.A. and U.S. Bank National Association, each in its capacity
as a joint lead arranger and joint bookrunner for the credit facilities provided for herein. 
 “Assignment and Assumption”
means an assignment and assumption entered into by a Lender and an Eligible Assignee, with the consent of any Person whose consent is required by Section 9.04, and accepted by the Agent, in substantially the form of
Exhibit A or any other form (including electronic records generated by the use of an electronic platform) approved by the Agent. 

“Auto-Extension Letter of Credit” has the meaning given to such term in Section 2.19(b). 

“Availability Period” means the period from and including the Effective Date to but excluding the earlier of the Maturity
Date and the date of termination of the Revolving Commitments. 

  
 4 

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

“Bail-In Legislation” means, with respect to any EEA Member Country implementing
Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule. 
 “Bankruptcy Code” means the United States Bankruptcy Code (11 U.S.C. § 101 et seq.), as
amended from time to time and any successor statute. 
 “Bankruptcy Event” means, with respect to any Person, the
occurrence of any of the following with respect to such Person: (i) a court or governmental agency having jurisdiction in the premises shall enter a decree or order for relief in respect of such Person in an involuntary case under any
applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of such Person or for any substantial part of its property or
ordering the winding up or liquidation of its affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; (ii) such Person shall commence a voluntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect, or consent to the entry of an order for relief in an involuntary case under any such law, or consent to the appointment or taking of possession by a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of such Person or for any substantial part of its property or make any general assignment for the benefit of creditors; or (iii) such Person shall admit in writing its inability to pay its
debts generally as they become due (otherwise than on a purely temporary basis), or any action shall be taken by such Person in furtherance of any of the foregoing. 

“Beneficial Ownership Certification” means a certification regarding beneficial ownership or control as required by the
Beneficial Ownership Regulation. 
 “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. 

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

“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance
with, 12 U.S.C. 1841(k)) of such party. 
 “Board” means the Board of Governors of the Federal Reserve System of the United
States (or any successor). 

  
 5 

 “Borrower” means Tao Group Operating LLC, a Delaware limited liability
company. 
 “Borrowing” means Loans of the same Type made, converted or continued on the same date and, in the case of
Eurocurrency Loans, as to which a single Interest Period is in effect. 
 “Borrowing Request” means a request by the
Borrower for a Borrowing in accordance with Section 2.03 or a conversion or continuation of a Loan in accordance with Section 2.05, which shall be, in the case of any such written request, in the form of Exhibit B
or any other form approved by the Agent. 
 “Business Day” means any day that is not a Saturday, Sunday or other day on
which commercial banks in New York City are authorized or required by law to remain closed; provided that, when used in connection with a Eurocurrency Loan, the term “Business Day” shall also exclude any day on which banks are not
open for dealings in dollar deposits in the London interbank market. 
 “CapEx Annual Limit” means, for any Annual
Measurement Period, $20,000,000. 
 “CapEx Carryover Amount” means, for any Annual Measurement Period, an amount equal to
the excess, if any, of the CapEx Annual Limit over the actual amount of Consolidated Capital Expenditures made during the immediately preceding Annual Measurement Period. 

“Capital Lease” means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person
as lessee that, in conformity with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person, in each case subject to Section 1.04. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease
of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as Capital Leases, and the principal amount of such obligations shall be the
capitalized amount thereof determined in accordance with GAAP, in each case subject to Section 1.04. 
 “Cash” means
money, currency or a credit balance in any demand account or Deposit Account; provided, however, that notwithstanding anything to the contrary contained herein, “Cash” shall exclude any amounts that would not be considered
“cash” under GAAP or “cash” as recorded on the books of the Borrower and the Restricted Parties. 

“CFC” means (a) any Person that is a “controlled foreign corporation” (within the meaning of
Section 957), but only if a U.S. Person that is a Loan Party or an Affiliate of a Loan Party is, with respect to such “controlled foreign corporation”, a “United States shareholder” (within the meaning of
Section 951(b)) described in Section 951(a)(1); and (b) each Subsidiary of any Person described in clause (a). For purposes of this definition, all Section references are to the Code. 

  
 6 

 “CFC Holdco” means a Domestic Subsidiary substantially all of the assets of
which consist, directly or indirectly, of equity of one or more Foreign Subsidiaries that are CFCs or other entities constituting CFC Holdcos. 

“Change in Law” means the occurrence, after the Effective Date, of any of the following: (a) the adoption or taking
effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the making or issuance of any
request, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that, notwithstanding anything to the contrary herein, it is understood and agreed that any changes resulting from requests,
rules, guidelines or directives (x) issued under, or in connection with, the Dodd-Frank Wall Street Reform and Consumer Protection Act or (y) promulgated by the Bank for International Settlements,
the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall, for the purposes of this Agreement, be deemed to be adopted
subsequent to the date hereof. 
 “Change of Control” means, at any time, (a) MSG Companies, taken as a whole, shall
cease to beneficially own and control, directly or indirectly, at least 51% on a fully diluted basis of the economic and voting interests in the Equity Interests of Intermediate Holdings; (b) any Person or “group” (within the meaning
of Rules 13d-3 and 13d-5 under the Exchange Act), other than MSG Companies, taken as a whole, shall have obtained the power (whether or not exercised) to elect a
majority of the members of the board of directors (or similar governing body) of Intermediate Holdings; or (c) Intermediate Holdings shall cease to beneficially own and control directly 100% on a fully diluted basis of the economic and voting
interest in the Equity Interests of the Borrower. 
 “Charges” has the meaning given to such term in Section 9.13.

 “Class” means (a) with respect to Lenders, each of the following classes of Lenders: (i) Lenders having Term
Loan Exposure, and (ii) Lenders having Revolving Exposure and/or Revolving Commitments, and (b) with respect to Loans, each of the following classes of Loans: (i) Term Loans and (ii) Revolving Loans. 

“Code” means the Internal Revenue Code of 1986, as amended, and as the same may be amended from time to time. 

“Collateral” means the collateral securing the obligations of the Borrower and the other Loan Parties hereunder, as more
fully described in the Security Agreement and any other Security Document, which shall not include any Excluded Property. 

“Collateral Agent” means JPMorgan Chase Bank, N.A. in its capacity as collateral agent under each Security Document. 

  
 7 

 “Commitment” means any Revolving Commitment, Term Loan Commitment or
Incremental Commitment. 
 “Commitment Fee” means the fee payable by the Borrower to the Agent, on behalf of the Lenders,
pursuant to Section 2.09(a). 
 “Communications” means, collectively, any notice, demand, communication, information,
document or other material provided by or on behalf of the Borrower pursuant to any Loan Document or the transactions contemplated therein that is distributed to the Agent, any Lender or any Issuing Bank by means of electronic communications
pursuant to Section 8.03, including through the Platform. 
 “Compliance Certificate” has the meaning set forth in
Section 5.01(d). 
 “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net
income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated Adjusted EBITDA” means,
for any period, an amount determined for the Restricted Parties on a consolidated basis equal to: 
 (i) the sum, without duplication, in
each case (other than clause (a) below) to the extent deducted in the calculation of Consolidated Net Income for such period, of the amounts for such period of: 

(a) Consolidated Net Income, plus 

(b) Consolidated Interest Expense, plus 

(c) provisions for Taxes based on income or revenue and Permitted Tax Payments, plus 

(d) total depreciation expense, plus 

(e) total amortization expense, plus 

(f) other non-cash items reducing Consolidated Net Income (excluding any such non-cash item to the extent that it represents an accrual or reserve for potential cash items in any future period or amortization of a prepaid cash item that was paid in a prior period), plus 

(g) the amount of non-cash management fees or similar non-cash
fees payable to MSG in accordance with the Parent Organizational Agreement as in effect on the Effective Date, plus 
 (h) any
proceeds of business interruption insurance policies actually received in cash during such period, in an amount not to exceed the income for such period that such proceeds were intended to replace, plus 

  
 8 

 (i) all non-cash losses or expenses (or minus non-cash income or gain), including, (1) non-cash adjustments resulting from the application of purchase accounting, non-cash
expenses arising from grants of stock appreciation rights, stock options or restricted stock, non-cash impairment of goodwill and other long term intangible assets, unrealized
non-cash losses (or minus unrealized non-cash gains) under Swap Agreements, unrealized non-cash losses (or minus unrealized non-cash gains) in such period due solely to fluctuations in currency values, but excluding any non-cash loss or expense (A) that is an accrual of a reserve for a cash
expenditure or payment to be made, or anticipated to be made, in a future period or (B) relating to a write-down, write off or reserve with respect to Accounts and Inventory, and (2) other such items not clearly qualifying as non-cash losses or expenses under GAAP approved by the Agent in its reasonable discretion, plus 

(j) one-time, non-recurring or unusual (as determined in
accordance with GAAP) expenses consisting of (1) severance costs, lease termination costs, legal, legal-related and other third-party professional fees incurred in connection with corporate restructuring, third-party professional fees
(including legal fees) incurred in connection with non-ordinary course litigation (threatened or otherwise) and non-ordinary course legal settlements, settlement
payments made with respect to such non-ordinary course litigation and settlements, and (2) non-ordinary course penalties and fines in an aggregate amount not to
exceed $500,000 in any measurement period, provided that the aggregate amount of all such one-time, non-recurring or unusual expenses added back to Consolidated
Adjusted EBITDA pursuant to this clause (j) shall not exceed $5,000,000 in any measurement period, plus 
 (k) any other
adjustment from time to time expressly approved in writing by the Agent and the Required Lenders, 
 minus (ii) the sum, without
duplication, of the amounts for such period of: 
 (a) other non-cash items increasing Consolidated
Net Income for such period (excluding any such non-cash item to the extent it represents ordinary course accruals or a gain resulting from the reversal of an accrual or reserve for potential cash items that
were deducted (and not added back) in the calculation of Consolidated Adjusted EBITDA in any prior period), plus 
 (b) interest
income received by any Restricted Party, plus 
 (c) other non-operating income (as determined
in accordance with GAAP) to the extent included in the calculation of Consolidated Net Income for such period, plus 
 (d) any TAO
Group Bonus Payments made by any Restricted Party, to the extent not deducted in the calculation of Consolidated Net Income for such period or to the extent added back in the calculation of Consolidated Adjusted EBITDA for such period. 

  
 9 

 Notwithstanding the foregoing, (A) in no event shall the amount of Consolidated
Adjusted Foreign EBITDA exceed twenty-five percent (25%) of the Consolidated Adjusted EBITDA of the Restricted Parties (including, for the avoidance of doubt, the Restricted Foreign Subsidiaries) in any period (and any amount of Consolidated
Adjusted Foreign EBITDA which exceeds twenty-five percent (25%) of the Consolidated Adjusted EBITDA of the Restricted Parties for such period shall be disregarded for purposes of calculating Consolidated Adjusted EBITDA), and (B) the parties
hereto agree that Consolidated Adjusted EBITDA for the fiscal quarter ended (I) on September 30, 2018 shall be deemed to be $3,776,454.00, (II) on December 30, 2018 shall be deemed to be $11,866,721.00, and (III) on
March 31, 2019 shall be deemed to be $6,250,869.00. 
 “Consolidated Adjusted Foreign EBITDA” means, for any period,
an amount determined for the Restricted Foreign Subsidiaries on a consolidated basis equal to the Consolidated Adjusted EBITDA generated by or attributable to the Restricted Foreign Subsidiaries, calculated in the same manner as the Consolidated
Adjusted EBITDA of the Restricted Parties as a whole, except the amount of Consolidated Net Income of the Restricted Foreign Subsidiaries that is included pursuant to clause (i)(a) thereof shall be an amount, not less than zero, equal to the
Consolidated Net Income of the Restricted Foreign Subsidiaries, minus the amount of net income of the Restricted Foreign Subsidiaries generated during such period that is actually distributed in cash by dividend or other distribution to a
Loan Party during such period. 
 “Consolidated Capital Expenditures” means, for any period, the aggregate amount of all
expenditures of the Restricted Parties during such period determined on a consolidated basis (net of (a) expenditures made with (i) Net Proceeds to the extent reinvested in accordance with
 Section 2.08(d) or (ii) proceeds of
an issuance of Permitted Equity, proceeds of any capital contribution to Intermediate Holdings or proceeds of Subordinated Indebtedness, (b) expenditures to the extent financed with Capital Leases or purchase money Indebtedness permitted to be
incurred by Section 6.01(e), (c) landlord contributions and tenant improvement allowances and abatements, (d) that portion of the purchase price of a Target in a Permitted Acquisition that, in accordance with GAAP, is or should be included
in “purchase of property and equipment or which should otherwise be capitalized” and (e) expenditures made with cash proceeds of non-affiliated third party reimbursements received by any
Restricted Party but only to the extent of such reimbursement) that, in accordance with GAAP, is or should be included in the “purchase of property and equipment or which should otherwise be capitalized” items reflected in the consolidated
statement of cash flows of the Restricted Parties. For the avoidance of doubt, Landlord Financed Capital Expenditures shall not constitute Consolidated Capital Expenditures. 

“Consolidated Cash Interest Expense” means, for any period, Consolidated Interest Expense for such period based upon GAAP,
excluding any paid-in-kind interest, amortization of debt discounts, premiums and deferred financing costs, and any realized or unrealized gains or losses attributable
to Swap Agreements. 
 “Consolidated Current Assets” means, as at any date of determination, the total assets of the
Restricted Parties on a consolidated basis that may properly be classified as current assets in conformity with GAAP, excluding Cash and Permitted Investments. 

  
 10 

 “Consolidated Fixed Charges” means, for any period, the sum, without
duplication, of the amounts determined for the Restricted Parties on a consolidated basis equal to (i) Consolidated Cash Interest Expense and (ii) scheduled payments of principal on Consolidated Total Debt (without giving effect to any
reduction in such scheduled payments resulting from any voluntary or mandatory prepayment of such principal and including the principal component of scheduled payments due on Capital Leases and amortization payments with respect to the Term Loans,
but excluding repayments of Revolving Loans except to the extent the Revolving Commitments are permanently reduced in connection with such repayments). 

“Consolidated Interest Expense” means, for any period, total interest expense (including that portion attributable to the
interest component under Capital Leases in accordance with GAAP) of the Restricted Parties on a consolidated basis with respect to all outstanding Consolidated Total Debt, including all commissions and other fees and charges owed with respect to
letters of credit (other than Third Party Letters of Credit) to the extent capitalized and amortized and net costs under Swap Agreements, but excluding, however, any gain or loss recognized under GAAP that results from the mark-to-market valuation of any net obligations under any Swap Agreement. 

“Consolidated Joint Venture” means, as of any date of determination, any Designated Joint Venture in which any Restricted
Party holds an interest which is required under GAAP to be consolidated with the Restricted Parties. 
 “Consolidated
Liquidity” means, for any period, an amount determined for the Restricted Parties on a consolidated basis equal to the sum of (i) unrestricted Cash and Permitted Investments of the Restricted Parties (excluding any Investments
described in clause (i) of the definition of “Permitted Investments”, any LC Cash Collateral, any Cash of the Restricted Parties pledged as collateral to secure any of the Restricted Parties’ reimbursement obligations under any
letter of credit and Cash or Permitted Investments held in any foreign Deposit Account or foreign Securities Account), plus (ii) (a) the Aggregate Revolving Commitment, minus (b) the Aggregate Revolving Exposure. 

“Consolidated Net Income” means, for any period, (i) the net income (or loss) of the Restricted Parties and the
Consolidated Joint Ventures on a consolidated basis for such period taken as a single accounting period determined in conformity with GAAP, minus (ii) the sum of (a) to the extent included in clause (i) above, the net income
(or loss) of any Person (other than any Consolidated Joint Venture) in which any Restricted Party has a joint interest with another Person (other than Intermediate Holdings, the Borrower or any of its Restricted Subsidiaries), except to the extent
such net income is actually paid in cash to such Restricted Party by dividend or other distribution during such period, plus (b) to the extent included in clause (i) above, any net income of any Excluded Joint Venture that is paid
in cash to the Restricted Parties by dividend or other distribution during such period, plus (c) the income (or loss) of any Person accrued prior to the date it becomes a Restricted Party or Consolidated Joint

  
 11 

 
Venture or is merged into or consolidated with any Restricted Party or that Person’s assets are acquired by any Restricted Party, plus (d) the income of any Restricted Party
(other than any Loan Party) or Consolidated Joint Venture to the extent that the declaration or payment of dividends or similar distributions by that Restricted Party (other than any Loan Party) or Consolidated Joint Venture (as the case may be) of
that income is not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Party (other than any Loan Party) or
Consolidated Joint Venture (as the case may be), plus or minus (as applicable) (e) any gains or losses attributable to Dispositions or returned surplus assets of any Plan, plus or minus (as applicable) (f) (to the
extent not included in clauses (a) through (d) above) any net gains or net losses, each of which is infrequent or unusual in nature (as determined in accordance with GAAP), reflected in the net income (or loss) of the Restricted Parties and
Consolidated Joint Ventures for such period, minus (iii) to the extent included in clause (i) above, the amount of net income of any Consolidated Joint Venture actually paid in cash to any applicable Joint Venture Partner by
dividend or other distribution during such period. For the avoidance of doubt, “Consolidated Net Income” shall not include any net income attributable to, or generated by, (x) any Excluded Joint Venture or (y) any Designated
Joint Venture in excess of the net income of such Designated Joint Venture for such period or for any period during which such Designated Joint Venture has a net loss. 

“Consolidated Senior Debt” means, as at any date of determination, Consolidated Total Debt, excluding the aggregate
outstanding amount of Subordinated Indebtedness (to the extent permitted hereunder), but including Capital Leases. 
 “Consolidated
Total Debt” means, as at any date of determination, the aggregate outstanding amount of all Indebtedness of Intermediate Holdings and its Restricted Subsidiaries and any Joint Venture Indebtedness determined on a consolidated basis in
accordance with GAAP. 
 “Control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Controlled Group” means the Borrower and all members of a controlled group of corporations and all trades or businesses
(whether or not incorporated) under common control which, together with the Borrower, are treated as a single employer under Section 414 of the Code. 

“Cost Savings” means cost savings as a result of integrating, consolidating or discontinuing operations, headcount reductions
or closure of facilities, in each case, to the extent such actions have been taken within the applicable measurement period of Consolidated Adjusted EBITDA in accordance with the definition of “Pro Forma Basis”. 

  
 12 

 “Covered Entity” means any of the following: 

 

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

  

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

  

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

 “Covered Party” has the meaning assigned to it in Section 9.19. 

“Credit Party” means the Agent, each Issuing Bank and each Lender. 

“Default” means any event or condition that constitutes an Event of Default or that upon notice, lapse of time or both would,
unless cured or waived, become an Event of Default. 
 “Default Right” has the meaning assigned to that term in, and shall
be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 
 “Defaulting Lender”
means any Lender that (a) has failed, within two Business Days of the date required to be funded or paid, (i) to fund any portion of its Loans, (ii) to fund any portion of its participations in Letters of Credit or (iii) to pay
to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies the Agent in writing that such failure is the result of such Lender’s good faith determination that a
condition precedent to funding (specifically identified in such writing, including, if applicable, by reference to a specific Default) has not been satisfied, (b) has notified the Borrower or any Credit Party in writing, or has made a public
statement, to the effect that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good-faith
determination that a condition precedent (specifically identified in such writing, including, if applicable, by reference to a specific Default) to funding a Loan cannot be satisfied) or generally under other agreements in which it commits to extend
credit, (c) has failed, within three Business Days after request by a Credit Party made in good faith to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially
able to meet such obligations) to fund prospective Loans and participations in then outstanding Letters of Credit under this Agreement; provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such
Credit Party’s receipt of such certification in form and substance satisfactory to it and the Agent, (d) has become the subject of a Bankruptcy Event or (e) has, or has a Lender Holding Company that has, become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof
by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets
or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. 

  
 13 

 “Deposit Account” has the meaning assigned to such term in Article 9 of the
UCC and includes a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by an instrument or a negotiable certificate of deposit. 

“Designated Joint Venture” means, as of any date of determination, any Permitted Joint Venture in which any Restricted Party
holds an interest and which has been designated by the Borrower as a Designated Joint Venture on a Compliance Certificate; provided that, as of the Effective Date, each Permitted Existing Joint Venture shall be designated as a Designated
Joint Venture; provided, however, that any designation of a Permitted Joint Venture as a Designated Joint Venture by the Borrower shall be irrevocable from and after the date of such designation, and no Designated Joint Venture may be re-designated as an Excluded Joint Venture. 
 “Designated
Non-Cash Consideration” means the fair market value (as determined in good faith by the Borrower) of non-cash consideration received by the Borrower or one of
its Restricted Subsidiaries in connection with a Disposition that is so designated as Designated Non-Cash Consideration pursuant to a certificate of a Financial Officer of the Borrower, setting forth such
valuation, less the amount of Cash or Permitted Investments received in connection with a subsequent disposition of such Designated Non-Cash Consideration. 

“Disclosed Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule 3.06.

 “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (in one
transaction or in a series of transactions and whether effected pursuant to a Division or otherwise) of any property by any Person (including any sale and leaseback transaction and any issuance of Equity Interests by a Subsidiary of such Person),
including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

“Disqualified Person” means (a) Persons identified by name in writing to the Agent by the Borrower on or prior to the
Effective Date, (b) any Person which is or becomes a direct or indirect competitor of the Borrower that is identified by name in writing to the Agent by the Borrower from time to time and (c) any Affiliate of a Person identified pursuant
to clause (a) or (b) that is either (i) identified in writing by the Borrower to the Agent (who shall distribute to the Lenders) from time to time or (ii) readily identifiable by the Agent or the Lenders by name. A list of the
Disqualified Persons as of the Effective Date shall promptly be made available by the Agent to all Lenders upon receipt thereof by the Agent. Upon the identification in writing by the Borrower of any additional Disqualified Person pursuant to clause
(b) or (c)(i) above, the Agent shall promptly make available such updated list to Lenders; provided, that any additional Person so identified shall not be deemed a Disqualified Person until such time

  
 14 

 
as such addition to such list is made available to the Lenders and no addition to such list shall apply retroactively to disqualify any Persons that have previously become Lenders or purchased a
participation interest hereunder, but upon effectiveness of such designation as a “Disqualified Person”, any such Person may not acquire any additional Commitments, Loans or participations under this Agreement. 

“Dividing Person” has the meaning assigned to it in the definition of “Division”. 

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

“Division Successor” means any Person that, upon the consummation of a Division of a Dividing Person, holds all or any
portion of the assets, liabilities and/or obligations previously held by such Dividing Person immediately prior to the consummation of such Division. A Dividing Person which retains any of its assets, liabilities and/or obligations after a Division
shall be deemed a Division Successor upon the occurrence of such Division. 
 “Domestic Subsidiary” means any Subsidiary
organized under the laws of the United States of America, any State thereof or the District of Columbia. 
 “EEA Financial
Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which
is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a Subsidiary of an institution described in clauses (a) or (b) of this definition
and is subject to consolidated supervision with its parent. 
 “EEA Member Country” means any of the member states of the
European Union, Iceland, Liechtenstein and Norway. 
 “EEA Resolution Authority” means any public administrative authority
or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Date” means the first date on which all of the conditions to the effectiveness of this Agreement were satisfied in
accordance with the terms hereof. 
 “Electronic Signature” means an electronic sound, symbol or process attached to, or
associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record. 

  
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 “Eligible Assignee” means (a) a Lender, (b) an Affiliate of a
Lender, (c) an Approved Fund, (d) an Issuing Bank and (e) any other Person, other than, in each case, (i) a Defaulting Lender or a Lender Holding Company thereof, (ii) the Borrower, any Subsidiary of the Borrower or any
other Affiliate of the Borrower (including, for the avoidance of doubt, Intermediate Holdings and its subsidiaries), (iii) [reserved], (iv) a Disqualified Person or (v) a natural person. Notwithstanding the foregoing, the Borrower and each of
the Lenders acknowledge and agree that the Agent shall not have any responsibility or obligation to ascertain, monitor or inquire as to whether any Lender or potential Lender is an Eligible Assignee, and the Agent shall have no liability with
respect to any assignment or participation of Loans made, or any information made available, to any Person that is not an Eligible Assignee by any Lender in violation hereof. 

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices
or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to (i) the environment as it relates to Hazardous Materials, (ii) preservation or reclamation of natural resources as it relates
to Hazardous Materials, (iii) the management, release or threatened release of any Hazardous Material or (iv) health and safety matters as it relates to Hazardous Materials. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of Intermediate Holdings or any Restricted Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use,
handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract,
agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company,
beneficial interests in a trust or other equity ownership interests in a Person of whatever nature, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any of the foregoing. 

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

“ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with the Borrower, is treated as a
single employer under Section 414(b) or (c) of the Code or Section 4001(a)(14) of ERISA or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of
the Code. 

  
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 “ERISA Event” means (a) any “reportable event”, as defined
in Section 4043 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); (b) the failure to satisfy the “minimum
funding standard” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver
of the minimum funding standard with respect to any Plan or Multiemployer Plan; (d) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan;
(e) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Multiemployer Plan or to appoint a trustee to administer any Plan or Multiemployer Plan
under Section 4042 of ERISA; (f) the incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal of the Borrower or any of its ERISA Affiliates from any Plan or
Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice, concerning the imposition upon the Borrower or any of
its ERISA Affiliates of Withdrawal Liability 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. 

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

“Eurocurrency”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, bear interest at a rate determined by reference to the Adjusted LIBO Rate. 
 “Event of Default” has the meaning
given to such term in Section 7.01. 
 “Excess Acquisition Consideration” has the meaning set forth in the definition
of “Permitted Acquisition”. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended
from time to time. 
 “Excluded Account” means, individually or collectively as the context requires, (a) any Deposit
Account or Securities Account established, maintained and used solely for the purpose of funding payroll, payroll taxes and other compensation and benefits to employees, (b) any Deposit Account or Securities Account established, maintained and
used solely to secure trade letters of credit to the extent permitted under this Agreement, (c) any Deposit Account (i) which is established, maintained and used solely for the purpose of paying Taxes, including sales Taxes,
(ii) which is established, maintained and used solely for the purpose of serving as an escrow account or as a fiduciary or trust account in favor of a third party, (iii) which is a zero balance Deposit Account or (iv) with an average
monthly balance of less than $100,000 with respect to any single Deposit Account, not to exceed $1,000,000 in the aggregate at any time for all Deposit Accounts that are Excluded Accounts pursuant to this clause (iv) and (d) any Deposit Account
or Securities Account established, maintained and used solely to secure Third Party Letters of Credit to the extent permitted under this Agreement. 

  
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 “Excluded Joint Venture” means any Joint Venture in which any Restricted
Party holds an interest, other than any Designated Joint Venture. 
 “Excluded Property” means (i) any real property,
(ii) motor vehicles and other assets subject to certificates of title and letter of credit rights (in each case, other than to the extent a Lien on such assets or such rights can be perfected by filing a
UCC-1) and any commercial tort claim with an individual value of less than $5,000,000, (iii) pledges and security interests prohibited by applicable Law or which could require any governmental (including
regulatory) consent, approval, license or authorization to be pledged (unless such consent, approval, license or authorization has been received), (iv) any lease, license or other agreement to the extent that, and for so long as, a grant of a
security interest therein would violate or invalidate such lease, license or agreement or create a right of termination in favor of any other party thereto (other than any Restricted Party or any wholly-owned Subsidiary thereof) after giving effect
to the applicable anti-assignment provisions of Article 9 of the UCC or similar law or principles of equity, subject to the last proviso of this definition, (v) those assets as to which the Agent and the Borrower reasonably agree that the cost
or other consequence of obtaining such a security interest or perfection thereof are excessive in relation to the value afforded thereby, (vi) any governmental licenses or state or local franchises, charters and authorizations, to the extent
security interests in such licenses, franchises, charters or authorizations are prohibited or restricted thereby after giving effect to the applicable anti-assignment provisions of Article 9 of the UCC or similar law, (vii) any “intent-to-use” applications for trademark or service mark registrations filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. §1051, unless and
until an Amendment to Allege Use or a Statement of Use under Section 1(c) or 1(d) of the Lanham Act has been filed, (viii) any Excluded Securities, (ix) any Third Party Funds, (x) any equipment or other asset that is subject to a
Lien permitted by Section 6.02(d) or is otherwise subject to purchase money debt or a Capital Lease Obligation, in each case, as permitted by Section 6.01, if the contract or other agreement providing for such debt or Capital Lease
Obligation prohibits or requires the consent of any person as a condition to the creation of any other security interest on such equipment or asset and, in each case, such prohibition or requirement is permitted hereunder, (xi) Excluded
Accounts (but not the proceeds of any Collateral deposited in any Excluded Account which is a zero balance Deposit Account) and (xii) any other exceptions mutually agreed upon between the Borrower and the Collateral Agent (acting at the
direction of the Required Lenders); provided, that the Borrower may in its sole discretion elect to exclude any property from the definition of Excluded Property and thereby include such property in the definition of Collateral;
provided, further, that (A) the foregoing exclusions shall in no way be construed (1) to apply to the extent that any described limitation, prohibition or restriction is unenforceable or ineffective under Section 9-406, 9-407, 9-408, or 9-409 of the UCC or other applicable Law (including the
Bankruptcy Code), or (2) to apply to the extent that any consent or waiver has been obtained that would permit the Collateral Agent’s security interest or lien to attach thereto notwithstanding the prohibition or restriction contained in
such contract, lease, permit, license, or license agreement or under applicable Law (it being agreed that the 

  
 18 

 
applicable Loan Party shall use commercially reasonable efforts to obtain any such required consent or waiver; provided that it is agreed that commercially reasonable efforts shall not
require such Loan Party to agree to a term solely in order to obtain such consent or waiver if such term would have a financially negative impact on such Loan Party or affirmatively increase its non-monetary
obligations thereunder in any material respect), (B) the Collateral shall include and the Collateral Agent’s Lien shall attach immediately at such time as the condition causing such limitation, prohibition or restriction shall be remedied and,
to the extent severable, shall attach immediately to any portion of any such contract, lease, permit, license or license agreement that does not result in any violation or invalidation thereof, and (C) the foregoing exclusions shall in no way
be construed to limit, impair, or otherwise affect the Collateral Agent’s continuing security interests in and liens upon any rights or interests of any Guarantor in or to (1) monies due or to become due under or in connection with any
described contract, lease, permit, license, license agreement, or Equity Interests (including any Accounts), or (2) any proceeds from the collection, sale, license, lease, or other dispositions of any such contract, lease, permit, license,
license agreement, or Equity Interests. 
 “Excluded Securities” shall mean any of the following: 

(a) any Equity Interests or Indebtedness with respect to which the Agent and the Borrower reasonably agree that the cost or other consequences
of pledging such Equity Interests or Indebtedness in favor of the Secured Parties under the Security Documents are excessive in relation to the value to be afforded thereby; 

(b) any voting Equity Interests of any CFC Holdco or Foreign Subsidiary (other than any Foreign Subsidiary or a CFC Holdco which becomes a
Guarantor) in excess of 65% (or such greater percentage that, due to a change in law after the date hereof, (A) could not reasonably be expected to cause the undistributed earnings of such Person or any Foreign Subsidiary of such Person, as
applicable, to be treated for U.S. federal income tax purposes as a deemed dividend to such CFC Holdco’s or Foreign Subsidiary’s direct or indirect U.S. owner, as applicable, and (B) could not reasonably be expected to cause any
material adverse tax consequences) of the outstanding Equity Interests of such CFC Holdco or Foreign Subsidiary, as applicable, entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2));

 (c) any Equity Interests or Indebtedness to the extent the pledge thereof would be prohibited by any requirement of law (in each case,
except to the extent such prohibition is unenforceable after giving effect to the applicable anti-assignment provisions of Article 9 of the UCC or other applicable Law); 

(d) any Equity Interests of any Joint Venture, to the extent (A) that a pledge thereof to secure the Obligations is prohibited by
(i) any applicable organizational documents, joint venture agreement or shareholder agreement or (ii) any other contractual obligation with an unaffiliated third party not in violation of Section 6.09 and binding on such assets at the
time of the acquisition thereof and not entered into in contemplation thereof (other than, in this subclause (A)(ii), customary non-assignment provisions which are ineffective under Article 9 of the UCC or
other applicable requirements of law), (B) 

  
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any organizational documents, joint venture agreement or shareholder agreement (or other contractual obligation referred to in subclause (A)(ii) above) prohibits such a pledge without the consent
of any other party; provided, that this clause (B) shall not apply if (1) such other party is a Restricted Party or a wholly-owned Subsidiary of any Restricted Party or (2) consent has been obtained to consummate such pledge
(it being agreed that the applicable Loan Party shall use commercially reasonable efforts to obtain any such required consent; provided that it is agreed that commercially reasonable efforts shall not require such Loan Party to agree to a
term solely in order to obtain such consent if such term would have a financially negative impact on such Loan Party) and for so long as such prohibition in such organizational documents, joint venture agreement or shareholder agreement or
replacement or renewal thereof is in effect, or (C) a pledge thereof to secure the Obligations would give any other party (other than a Restricted Party or a wholly-owned Subsidiary of any Restricted Party) to any organizational documents,
joint venture agreement or shareholder agreement governing such Equity Interest (or other contractual obligation referred to in subclause (A)(ii) above) the right to terminate its obligations thereunder (other than, in the case of other contractual
obligations referred to in subclause (A)(ii), customary non-assignment provisions which are ineffective under Article 9 of the UCC or other applicable requirement of law); 

(e) any Equity Interests of any Subsidiary of, or other Equity Interests owned by, any Foreign Subsidiary or a CFC Holdco (other than any
Foreign Subsidiary or a CFC Holdco which becomes a Guarantor); 
 (f) 50% of the Capital Stock of Asia Five Eight LLC; 

(g) any promissory note pledged as collateral to secure any of the Restricted Parties’ reimbursement obligations under any trade letter of
credit; and 
 (h) any LC Collateral Note for so long as such LC Collateral Note continues to serve as collateral to secure any of the
Restricted Parties’ reimbursement obligations under any Third Party Letter of Credit issued by a Third Party LC Issuer. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or
deducted from a payment to a Recipient: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws
of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case
of a Lender, U.S. Federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan, Letter of Credit or Commitment pursuant to a law in effect on the date on which
(i) such Lender acquires such interest in the Loan, Letter of Credit or Commitment (other than pursuant to an assignment request by the Borrower under Section 2.16(b)) or (ii) such Lender changes its lending office, except in each
case to the extent that, pursuant to Section 2.14, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender acquired the applicable interest in such Loan, Letter of Credit or
Commitment or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 2.14(f) and (d) any U.S. Federal withholding Taxes imposed under FATCA. 

  
 20 

 “Existing Credit Agreement” means the Credit and Guaranty Agreement, dated
as of January 31, 2017 (as such agreement made be amended or modified prior to the Effective Date), by and among Intermediate Holdings, the Borrower, the Subsidiaries of the Borrower party thereto as guarantors, the lenders party thereto and
Goldman Sachs Specialty Lending Group, L.P., as administrative agent and sole lead arranger thereunder. 
 “Existing Revolving
Borrowings” has the meaning given to such term in Section 2.18(e). 
 “Existing Venue” means any Venue in
respect of which the creation or acquisition of rights and obligations to manage or operate such Venue by the Borrower or any of its Restricted Subsidiaries has occurred on or prior to the Effective Date, whether by purchase, merger, execution of a
Venue Agreement or otherwise. 
 “Exposure” means any Term Loan Exposure or Revolving Exposure. 

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

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

“Fees” means all fees payable pursuant to this Agreement or the Agent Fee Letter, including the Commitment Fee and the
Administrative Fee. 
 “Fifth Third Accounts” means, collectively, (a) the currency processing cash management account
of the Restricted Parties maintained with Fifth Third Bank with an account number ending in 2830 and (b) any depository account product with Fifth Third Bank substantially similar to such account; provided, that at any time Fifth Third
Bank is not a Lender, each such Fifth Third Account shall, within 30 days (as such time period may be extended by the Agent in its reasonable discretion) of written notice by the Agent to the Borrower that Fifth Third Bank is no longer a Lender, be
subject to a control agreement, in form and substance reasonably satisfactory to the Agent, executed and delivered by the applicable Restricted Party, the Agent and Fifth Third Bank. 

  
 21 

 “Financial Officer” means, with respect to any Loan Party, the president, co-president, chief financial officer, principal accounting officer, treasurer or controller of such Loan Party. 

“Financing Statements” means the UCC financing statements that have been, or are to be, filed against the Loan Parties (and,
as appropriate, their Subsidiaries) in order to perfect the security interest of the Collateral Agent in the Collateral granted by the Loan Parties (and, as appropriate, their Subsidiaries) to the Collateral Agent pursuant to the Loan Documents.

 “First Priority” means, with respect to any Lien purported to be created in any Collateral pursuant to any Security
Document, that such Lien is the only Lien to which such Collateral is subject, other than any non-consensual Lien permitted under Section 6.02. 

“Fixed Charge Coverage Multiple” means, as of any date of determination, 1.25:1.00. 

“Fixed Charge Coverage Ratio” means the ratio, determined on a Pro Forma Basis, as of the last day of each fiscal quarter
ending after the Effective Date of (a) Consolidated Adjusted EBITDA for the four-fiscal quarter period then ending, minus the sum of (i) Consolidated Capital Expenditures paid in cash for the four-fiscal quarter period then ending,
plus (ii) Taxes paid in cash during such four-fiscal quarter period then ending (including, without duplication, Permitted Tax Payments during such period), plus (iii) Restricted Payments permitted by Section 6.07 and
paid in cash during the four-fiscal quarter period then ending to (b) Consolidated Fixed Charges for such four-fiscal quarter period; provided, that the parties hereto agree that items (a)(i)-(iii) and (b) above shall be deemed to
be (x) for the fiscal quarter ended on September 30, 2018, $1,589,741.00, $0.00, $0.00 and $708,722.00, respectively, (y) for the fiscal quarter ended on December 30, 2018, $820,010.00, $951,000.00, $0.00 and $708,722.00,
respectively, and (z) for the fiscal quarter ended on March 31, 2019, $1,029,781.00, $1,486,000.00, $0.00 and $693,315.00, respectively. 

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

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

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

  
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 “Governmental Authority” means the government of the United States of
America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, bureau, commission, department, instrumentality, regulatory body, court, tribunal, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government, in each case whether foreign or domestic. 

“Governmental Authorization” means any permit, license, authorization, plan, directive, consent order or consent decree or
any other similar directive or order, of or from any Governmental Authority. 
 “Guarantee” of or by any Person (the
“guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other
obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation
or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided, that the term Guarantee shall not include endorsements for collection or deposit in the
ordinary course of business. 
 “Guarantor” means, as at any date of determination, (a) each of Intermediate Holdings
and each wholly-owned Domestic Subsidiary of Intermediate Holdings (other than the Borrower, any CFC Holdco and its Subsidiaries, any Immaterial Subsidiary and any Unrestricted Subsidiary) that is now or hereafter becomes a party to the Security
Agreement, and (b) any other Subsidiary of the Borrower that may be designated by the Borrower in its sole discretion from time to time in a certificate delivered to the Agent by a Financial Officer of the Borrower to be a Guarantor in respect
of the Obligations, whereupon such Subsidiary shall be obligated to comply with the other requirements of Section 5.10 as if it were a newly acquired Subsidiary. 

“Guarantor Subsidiary” means each Guarantor other than Intermediate Holdings. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes
or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature, in each case of the
foregoing, regulated pursuant to any Environmental Law. 
 “IBA” has the meaning assigned to such term in
Section 1.05. 

  
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 “Immaterial Subsidiary” means, at any relevant time of determination,
(a) those Subsidiaries listed on Schedule 1.05 as of the Effective Date and (b) any Subsidiary of the Borrower that is identified by the Borrower as an Immaterial Subsidiary after the Effective Date on the most recently delivered
Compliance Certificate pursuant to Section 5.01(c); provided, that, in the event that all Immaterial Subsidiaries, in the aggregate, (i) shall own assets (after intercompany eliminations) having a fair market value in excess of five
percent (5%) of Consolidated Current Assets of the Restricted Parties or (ii) generate Consolidated Adjusted EBITDA in excess of five percent (5%) of the Consolidated Adjusted EBITDA of the Restricted Parties, in each case, as determined as of
the date of the most recent financial statements delivered pursuant to Section 5.01(a) or Section 5.01(b), then, in either case, one or more of such Immaterial Subsidiaries as designated by the Borrower within ten (10) Business Days
after delivery of such financial statements (or, if the Borrower shall make no designation within such period, one or more of such Immaterial Subsidiaries in descending order based on their respective amounts of Consolidated Current Assets or
Consolidated Adjusted EBITDA, as applicable, as designated by the Agent) shall thereafter cease to be an Immaterial Subsidiary and shall thereupon comply with the applicable requirements of Section 5.10; provided, however, that,
in no event shall any Subsidiary of the Borrower that owns any Intellectual Property or any other strategically-valuable asset, in each case, that is material to the business of the Borrower or its Restricted Subsidiaries, or any Subsidiary of the
Borrower which owns Equity Interests in any Loan Party, be deemed to be an Immaterial Subsidiary. 
 “Impacted Interest
Period” has the meaning assigned to it in the definition of “LIBO Rate”. 
 “Incremental Commitment”
means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant to an Incremental Facility Agreement and Section 2.18, to make Revolving Loans hereunder, expressed as an amount representing the maximum aggregate
permitted amount of such Lender’s Revolving Exposure under such Incremental Facility Agreement. 
 “Incremental Facility
Agreement” means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Agent and the Borrower, among the Borrower, the Agent and one or more Incremental Lenders, establishing Incremental Commitments and
effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.18. 
 “Incremental
Lender” means a Lender with an Incremental Commitment. 
 “Indebtedness” of any Person means, without duplication,
(a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention
agreements relating to property acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding (i) current accounts payable and trade debt incurred in the ordinary
course of business and (ii) obligations in respect of compensation payments to personnel of such Person incurred pursuant to employment 

  
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contracts entered into in the ordinary course of business), (e) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or
otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (f) all Guarantees by such Person of Indebtedness of others, (g) all Capital Lease
Obligations of such Person, (h) the face amount of any trade letter of credit and any unreimbursed amounts drawn under any standby letter of credit or letter of guaranty, in each case, issued for the account of that Person or as to which that
Person is otherwise liable for reimbursement of drawings (excluding, for the avoidance of doubt, any letters of credit or letters of guaranty to the extent undrawn) and (i) all obligations, contingent or otherwise, of such Person in respect of
bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such
Person’s ownership interest in such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. 

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

“Indemnitee” has the meaning given to such term in Section 9.03(b). 

“Intellectual Property” has the meaning given to such term in the Security Agreement. 

“Interest Election Request” means a request by the Borrower to convert or continue a Borrowing in accordance with
Section 2.05, which shall be substantially in the form of Exhibit C or any other form approved by the Agent. 

“Interest Payment Date” means (a) with respect to any ABR Loan, the first Business Day following the last day of each
March, June, September and December and the Maturity Date and (b) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurocurrency Borrowing
with an Interest Period of more than three months’ duration, such day or days prior to the last day of such Interest Period as shall occur at intervals of three months’ duration after the first day of such Interest Period. 

“Interest Period” means, with respect to any Eurocurrency Borrowing, the period commencing on the date of such Borrowing
and ending on the date one week, or one, two, three or six months thereafter, as selected by the Borrower; provided that (a) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended
to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, and (b) any Interest Period that commences on
the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) 

  
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shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and
thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 
 “Intermediate
Holdings” means Tao Group Intermediate Holdings LLC, a Delaware limited liability company. 
 “Interpolated Screen
Rate” means, at any time, for any Interest Period, the rate per annum (rounded to the same number of decimal places as the LIBO Screen Rate) determined by the Agent (which determination shall be conclusive and binding absent manifest error)
to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBO Screen Rate for the longest period for which the LIBO Screen Rate is available that is shorter than the Impacted Interest Period; and (b) the
LIBO Screen Rate for the shortest period (for which that LIBO Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such time. 

“Inventory” has the meaning assigned to such term in Article 9 of the UCC. 

“Investment” means purchasing, holding or acquiring (including pursuant to any merger with any Person) any Equity Interest,
evidences of Indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing), except for notes or similar debt obligations issued by a bank to whom such note or debt obligation is pledged in connection
with such bank’s issuance of a letter of credit on behalf of the Borrower, of, or making or permitting to exist any loans or advances (other than commercially reasonable extensions of trade credit) to, guaranteeing any Indebtedness of, or
making or permitting to exist any investment in, any other Person, or purchasing or otherwise acquiring (in one transaction or a series of transactions) any assets of any Person constituting a business unit. 

“Investment Annual Limit” means, with respect to any Annual Measurement Period, $30,000,000. 

“Investment Annual Total Limit” means (a) with respect to the Annual Measurement Period ending on or about
December 31, 2019, the sum of (i) the Investment Annual Limit, plus (ii) an aggregate amount equal to any returns (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and
similar amounts) actually received by the Restricted Parties in cash during such Annual Measurement Period in respect of any Investments in Permitted Joint Ventures, and (b) with respect to any Annual Measurement Period thereafter, the sum of
(i) the Investment Annual Limit, plus (ii) the Investment Carryover Amount, if any, for such Annual Measurement Period (it being agreed that any Investment Expenditures made during such Annual Measurement Period shall be deemed to
be applied first to the Investment Annual Limit for such Annual Measurement Period and second to any Investment Carryover Amount), plus (iii) an aggregate amount equal to any returns (including dividends, interest, distributions, returns
of principal, profits on sale, repayments, income and similar amounts) actually received by the Restricted Parties in cash during such Annual Measurement Period in respect of any Investments in Permitted Joint Ventures. 

  
 26 

 “Investment Carryover Amount” means, with respect to any Annual Measurement
Period, an amount equal to the excess, if any, of the Investment Annual Limit over the actual amount of Investment Expenditures made during the immediately preceding Annual Measurement Period. 

“Investment Expenditures” means, with respect to any Annual Measurement Period, the sum (without duplication) of (a) the
aggregate consideration paid for all Permitted Acquisitions during such Annual Measurement Period (net of any Excess Acquisition Consideration paid during such Annual Measurement Period), plus (b) the aggregate amount of any Investments
made pursuant to Section 6.05(q) during such Annual Measurement Period. 
 “Investment Unrestricted Annual Limit”
means, with respect to any Annual Measurement Period, $5,000,000. 
 “Investment Unrestricted Carryover Amount” means, with
respect to any Annual Measurement Period commencing after the Annual Measurement Period ending on or about December 31, 2019, an amount equal to the excess, if any, of the Investment Unrestricted Annual Limit over the actual amount of
Investments made pursuant to Section 6.05(r) during the immediately preceding Annual Measurement Period. 
 “IRS”
means the United States Internal Revenue Service. 
 “Issuing Bank” means JPMorgan Chase Bank, N.A. and any other Lender
that agrees to act as an Issuing Bank, each in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.19(i). Any Issuing Bank may, in its discretion, arrange for one or more
Letters of Credit to be issued by Affiliates of such Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. Each reference herein to the
“Issuing Bank” in connection with a Letter of Credit or other matter shall be deemed to be a reference to the relevant Issuing Bank with respect thereto. 

“Issuing Bank Sublimit” means $5,000,000. The Issuing Bank Sublimit is part of, and not in addition to, the Revolving
Commitments. 
 “Joint Venture” means a joint venture, partnership or other similar arrangement, whether in corporate,
partnership or other legal form. 
 “Joint Venture Indebtedness” means, as of any date of determination or any period with
respect to each Designated Joint Venture, an amount equal to the product of (a) the Indebtedness of such Designated Joint Venture, multiplied by (b) the ratio of (A) the amount of net income of such Designated Joint Venture (or
attributable to such Designated Joint Venture) that is included in the calculation of “Consolidated Net Income” for such period, to (B) the aggregate net income of such Designated Joint

  
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Venture for such period, determined in accordance with GAAP. For the avoidance of doubt, for any period during which a Designated Joint Venture has a net loss or has no net income that is
included in the calculation of “Consolidated Net Income”, the amount of Joint Venture Indebtedness attributable to such Designated Joint Venture shall be zero for such period. 

“Joint Venture Partner” means each other Person (other than any other Restricted Party) holding Equity Interests in any Joint
Venture in which any Restricted Party owns any Equity Interests. 
 “Key Man Condition” means, with respect to any Venue
Agreement, a condition therein requiring one or more specified Person(s) to remain involved in the management or operation of the applicable Venue following a transfer or assignment of such Venue Agreement (including any change of control or similar
event). 
 “Landlord Financed Capital Expenditures” means any capital expenditures of any Restricted Party financed by the
landlord (or other owner of any Venue, other than any Restricted Party) of any Restricted Party or otherwise paid for by such landlord (or such other owner) for which such Restricted Party is obligated to reimburse such landlord (or such other
owner) through the capitalization of such amounts pursuant to the terms of the applicable Venue Agreement. 
 “Law” means,
with respect to any Person, any law, constitution, statute, treaty, regulation, rule, ordinance, order, injunction, writ, decree or award of any Governmental Authority applicable to such Person. 

“LC Cash Collateral” means Cash of the Restricted Parties pledged as collateral to secure any of the Restricted Parties’
reimbursement obligations under any Third Party Letter of Credit issued by a Third Party LC Issuer, to the extent permitted by Section 6.01(g)(ii). 

“LC Collateral Note” means any promissory note issued by a Third Party LC Issuer (or an Affiliate of a Third Party LC Issuer)
in favor of a Restricted Party in a principal amount not to exceed the face amount of the related Third Party Letter of Credit, which promissory note is pledged as collateral to secure any of the Restricted Parties’ reimbursement obligations
under any Third Party Letter of Credit issued by such Third Party LC Issuer, to the extent both such Third Party Letter of Credit is permitted by Section 6.01(g)(ii) and such LC Collateral Note is permitted by 
Section 6.05(s). 

“LC Commitment” means, with respect to any Issuing Bank, the aggregate face amount of Letters of Credit that such Issuing
Bank has committed, in writing, to provide subject to the terms and conditions set forth in this Agreement. The LC Commitments of the Issuing Banks as of the Effective Date are as set forth on Schedule 1.04. The LC
Commitments are part of, and not in addition to, the Revolving Commitments. 
 “LC Disbursement” means a payment made by an
Issuing Bank pursuant to a Letter of Credit. 

  
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 “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn
amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender at any time shall be
its Applicable Percentage of the LC Exposure at such time. 
 “Leasehold Venue” means any Venue in which the Borrower or
any of its Restricted Subsidiaries shall have any leasehold interest and which is operated or managed by the Borrower or any of its Restricted Subsidiaries. 

“Lender Holding Company” means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a
subsidiary. 
 “Lenders” means the Persons listed on Schedule 1.01 and any other Person that
shall have become a party hereto pursuant to an Assignment and Assumption or an Incremental Facility Agreement, other than any such Person that shall have ceased to be a party hereto pursuant to an Assignment and Assumption. Unless the context
otherwise requires, the term “Lenders” includes the Issuing Banks. 
 “Letter of Credit” means any standby letter
of credit issued pursuant to this Agreement. 
 “Letter of Credit Agreement” has the meaning assigned to it in
Section 2.19(b). 
 “Letter of Credit Expiration Date” has the meaning assigned to it in Section 2.19(b). 

“LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, the LIBO Screen Rate at approximately
11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period; provided that if the LIBO Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”)
then the LIBO Rate shall be the Interpolated Screen Rate. 
 “LIBO Screen Rate” means, for any day and time, with respect
to any Eurocurrency Borrowing for any Interest Period, the London interbank offered rate as administered by the IBA (or any other Person that takes over the administration of such rate) for U.S. Dollars for a period equal in length to such Interest
Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that
displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Agent in its reasonable discretion); provided that if the LIBO Screen Rate as so determined would
be less than zero, such rate shall be deemed to zero for the purposes of this Agreement. 

  
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 “Lien” means, with respect to any asset, (a) any mortgage, deed of
trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing
lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Loan Documents” means (a) this Agreement, (b) the Security Agreement, (c) the Financing Statements,
(d) any other Security Documents executed by Intermediate Holdings, the Borrower or any of its Subsidiaries, together with any other documents or instruments executed by or on behalf of Intermediate Holdings, the Borrower or any of its
Subsidiaries with respect to the credit facilities provided for herein and designated as a Loan Document and (e) any agreements between the Borrower and an Issuing Bank regarding the issuance by such Issuing Bank of Letters of Credit hereunder
and/or the respective rights and obligations between the Borrower and such Issuing Bank in connection thereunder. 
 “Loan
Party” means, at each relevant time of determination, (i) Intermediate Holdings, (ii) the Borrower and (iii) each other Guarantor. 

“Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. 

“Managed Venue” means any Venue which is operated or managed by any Restricted Party pursuant to a Venue Management Contract,
pursuant to which the Borrower or any of its Restricted Subsidiaries are entitled to payments for operating and managing such Venue without obtaining a leasehold interest in such Venue. 

“Margin Regulations” means Regulation T, Regulation U and Regulation X, each as from time to time in effect, and all official
rulings and interpretations thereunder or thereof. 
 “Margin Stock” means margin stock within the meaning of the Margin
Regulations. 
 “Master Agreement” has the meaning specified in the definition of “Swap Agreement”. 

“Material Adverse Effect” means a material adverse effect on (a) the business, assets, operations or financial condition
of Intermediate Holdings, the Borrower and its Subsidiaries, taken as a whole, (b) the ability of the Loan Parties, taken as a whole, to perform their Obligations or (c) the material rights of or benefits available to the Lenders under
this Agreement or any other Loan Document. 
 “Material Contract” means any contract (including any Venue Agreement) or
other arrangement to which any Restricted Party is a party (other than the Loan Documents) for which breach, nonperformance, cancellation or failure to renew could reasonably be expected to have a Material Adverse Effect, as each is amended,
supplemented or otherwise modified from time to time. All Material Contracts as of the Effective Date are listed on Schedule 4.16. 

  
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 “Material Indebtedness” means Indebtedness (other than the Loans and
Letters of Credit), or obligations in respect of one or more Swap Agreements, of any one or more of Intermediate Holdings, the Borrower and its Subsidiaries in an aggregate principal amount exceeding $3,000,000. For purposes of determining Material
Indebtedness, the “principal amount” of the obligations of Intermediate Holdings, the Borrower or any Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements)
that Intermediate Holdings, the Borrower or such Subsidiary would be required to pay if such Swap Agreement were terminated at such time. 

“Maturity Date” means May 23, 2024. 

“Maximum Rate” has the meaning given to such term in Section 9.13. 

“MNPI” means material information concerning Intermediate Holdings, the Borrower, any Subsidiary or any Affiliate of any of
the foregoing or their securities that has not been disseminated in a manner making it available to investors generally, within the meaning of Regulation FD under the United States Federal securities laws. For purposes of this definition,
“material information” means information concerning Intermediate Holdings, the Borrower, the Subsidiaries or any Affiliates of any of the foregoing or any of their securities that would reasonably expected to be material for
purposes of the United Stated Federal and state securities laws. 
 “Moody’s” means Moody’s Investors Service,
Inc. 
 “MSG” means MSG TG, LLC, a Delaware limited liability company, or any Affiliate thereof. 

“MSG Company” means MSG Parent or any MSG Company Successor (as such term is defined in the Parent Organizational Agreement
as in effect on the date hereof), or any of their respective Affiliates. 
 “MSG Parent” means The Madison Square Garden
Company, a Delaware corporation. 
 “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3)
of ERISA. 
 “Net Proceeds” means, with respect to any event, (a) the cash proceeds received in respect of such event
including (i) any cash received in respect of any non-cash proceeds (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or purchase
price adjustment receivable or otherwise, but excluding any interest payments), but only as and when received, (ii) in the case of a casualty, insurance proceeds, and (iii) in the case of a condemnation or similar event, condemnation
awards and similar payments, net of (b) the 

  
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sum of (i) all reasonable fees and out-of-pocket expenses paid to third parties (other than Affiliates) in
connection with such event, (ii) in the case of a sale, transfer or other disposition of an asset (including pursuant to a sale and leaseback transaction, Division or a casualty or a condemnation or similar proceeding), (A) the amount of all
payments (including any premiums or penalties) required to be made as a result of such event to repay Indebtedness (other than Loans) secured by such asset or otherwise subject to mandatory prepayment as a result of such event and (B) a
reasonable reserve for any purchase price adjustments or indemnification payments (fixed or contingent) attributable to seller’s indemnities and representations and warranties to purchaser in respect of such disposition undertaken by any
Restricted Party in connection with such disposition (provided, that upon release of any such reserve, the amount released shall be considered Net Proceeds) and (iii) (A) in connection with any Prepayment Event described in clause
(a) of the definition of “Prepayment Event”, the amount of any Permitted Tax Payments and income or gains taxes paid or payable by the seller, in each case, as a result of any gain recognized in connection with such Prepayment Event
and (B) without duplication of clause (A), the amount of all other Taxes paid (or reasonably estimated to be payable) and the amount of any reserves established to fund contingent liabilities reasonably estimated to be payable, in each case
during the year that such event occurred or the next succeeding year and that are directly attributable to such event (as determined reasonably and in good faith by a Financial Officer of the Borrower). 

“New Venue” means, as at any date of determination, any new or relocated Venue that has not yet opened to the general public
or which has been open to the general public, in whole or in part, for less than twelve (12) months. 
 “Non-Extension Notice Date” has the meaning given to such term in Section 2.19(b). 

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

“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and
(b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if any of the aforesaid rates shall be less than zero, such rate shall be
deemed to be zero for all purposes. 
 “Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, the Borrower arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or
hereafter arising and including interest and fees that accrue after the commencement by or against the Borrower or any other Loan Party of any proceeding under any debtor relief laws naming such Person as the debtor in such proceeding, regardless of
whether such interest and fees are allowed or allowable claims in such proceeding. Without limiting the foregoing, the Obligations include the obligation to pay principal, interest, Letter of Credit commissions, charges, expenses, fees, indemnities
and other amounts payable by the Borrower under any Loan Document. 

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

“Other Permitted Transfer Conditions” means, with respect to any Venue Agreement executed after the Effective Date, any
customary and reasonable objective conditions (excluding Permitted Key Man Conditions), which objective conditions shall be reasonably consistent with any similar conditions in other similar Venue Agreements executed after the Effective Date,
contained in such Venue Agreement that would have to be satisfied prior to the transfer or assignment of such Venue Agreement (including any change of control or similar event) without the consent of the landlord or other counterparty to such Venue
Agreement (or consent not to be unreasonably withheld of such landlord or counterparty). 
 “Other Taxes” means all present
or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security
interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.16(b)). 

“Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight
Eurocurrency borrowings by U.S.-managed banking offices of depository institutions (as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time) and published on the next succeeding Business Day by
the NYFRB as an overnight bank funding rate. 
 “Parent” means TAO Group Holdings LLC, a Delaware limited liability
company. 
 “Parent Organizational Agreement” means the Second Amended and Restated Limited Liability Company Agreement of
Parent, dated as of January 31, 2017 and as amended by Amendment No. 1 to Second Amended and Restated Limited Liability Company Agreement of Parent, dated as of the Effective Date, among, inter alios, Parent, MSG and the TAO Group
Principals, as in effect on the Effective Date and as the same may be amended, restated, supplemented or otherwise modified to the extent not prohibited hereunder. 

“Participant Register” has the meaning set forth in Section 9.04(c)(ii). 

“Participants” has the meaning set forth in Section 9.04(c)(i). 

“Patriot Act” means the USA Patriot Act of 2001. 

  
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 “PBGC” means the Pension Benefit Guaranty Corporation or any entity
succeeding to any or all of its functions under ERISA. 
 “Permitted Acquisition” means any acquisition by the Borrower or
any of its Restricted Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all of the Equity Interests of, or a business line or unit or a division of, any Person; provided, 

(i) immediately prior to, and after giving effect thereto, no Event of Default shall have occurred and be continuing or would result
therefrom; 
 (ii) all transactions in connection therewith shall be consummated, in all material respects, in accordance with all
applicable Laws and in conformity with all applicable Governmental Authorizations; 
 (iii) in the case of the acquisition of Equity
Interests, all of the Equity Interests (except for any such Equity Interests in the nature of directors’ qualifying shares required pursuant to applicable Law) acquired or otherwise issued by the Borrower or any Restricted Subsidiary or any
newly formed Subsidiary of the Borrower in connection with such acquisition shall be owned 100% by the Borrower or a Restricted Subsidiary, and the Borrower shall have taken, or shall cause to be taken each of the actions set forth in
Section 5.10 when required pursuant to the terms thereof; 
 (iv) on a Pro Forma Basis both before and after giving effect to such
acquisition as of the last day of the fiscal quarter most recently ended prior to the date of such acquisition, (x) the Senior Leverage Ratio shall be at least 0.50:1.00 less than the then in effect Senior Leverage Multiple and (y) the
Total Leverage Ratio shall be at least 0.50:1.00 less than the then in effect Total Leverage Multiple; 
 (v) the Borrower shall have
delivered to the Agent at least five (5) Business Days prior to such proposed acquisition, (A) a Compliance Certificate evidencing compliance with clause (iv) above, together with all relevant financial information with respect to
such acquired assets, including the aggregate consideration for such acquisition and any other information required to demonstrate compliance with clause (iv) above and (B) such projections and pro forma financial information regarding
such acquired assets as the Agent or any Lender shall reasonably request; 
 (vi) any Person or assets or division as acquired in accordance
herewith (y) shall be in the same, similar or related business or lines of business in which the Borrower and/or its Restricted Subsidiaries are engaged as of the Effective Date and (z) for the four quarter period most recently ended prior
to the date of such acquisition, shall have generated earnings before income taxes, depreciation, and amortization during such period that shall exceed the amount of capital expenditures related to such Person or assets or division during such
period (calculated in substantially the same manner as Consolidated Adjusted EBITDA and Consolidated Capital Expenditures are calculated); 

  
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 (vii) the acquisition shall have been approved by the board of directors or other governing
body or controlling Person of the Person acquired or the Person from whom such assets or division is acquired; and 
 (viii) the Investment
Expenditures during any Annual Measurement Period shall not exceed the Investment Annual Total Limit; provided, that, the aggregate consideration for any acquisition may exceed the foregoing maximum amount so long as all such excess aggregate
consideration (the “Excess Acquisition Consideration”) is funded with proceeds from a concurrent capital contribution to, or issuance of Permitted Equity of, Intermediate Holdings. 

“Permitted Encumbrances” means: 

(a) Liens imposed by law for Taxes that are not yet due or are being contested in compliance with Section 5.04; 

(b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, workmen’s and other like Liens
imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in compliance with Section 5.04; 

(c) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and
other social security laws or regulations; 
 (d) deposits to secure the performance of bids, tenders, trade contracts, government
contracts, leases, statutory obligations, surety and appeal bonds, performance bonds, return of money bonds and other obligations of a like nature, in each case in the ordinary course of business; 

(e) judgment liens in respect of judgments, writs, warrants or similar processes that do not constitute an Event of Default under

Section 7.01(k); 
 (f) easements or reservations of, or rights of others for, rights of way, sewers, electric lines, telephone
lines and other similar purposes, or zoning or other restrictions as to the use of real properties or encumbrances incidental to the conduct of the business of such Person or to the ownership of its properties, minor survey exceptions, minor defects
or irregularities in title and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or
interfere with the ordinary conduct of business of Intermediate Holdings or any Restricted Subsidiary; 
 (g) (i) leases, licenses,
subleases or sublicenses granted to third parties in the ordinary course of business (including (A) encumbrances of landlords of any leased or licensed real property and (B) licenses of patents, trademarks and other Intellectual Property)
and not interfering in any material respect with the ordinary conduct of business of Intermediate Holdings or any Restricted Subsidiary, (ii) any interest or title of 

  
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lessor, licensor, sublessor or sublicensor under any such leases, licenses, subleases or sublicenses, (iii) any Liens against the property of any such lessor, licensor, sublessor or
sublicensor which is not a Restricted Party, or (iv) any purported Liens evidenced by the filing of precautionary UCC financing statements relating solely to operating leases of personal property entered into in the ordinary course of business;

 (h) Liens in favor of a banking or other financial institution arising as a matter of law or in the ordinary course of business under
customary general terms and conditions encumbering deposits or other funds maintained with a financial institution (including the right of set-off) and that are within the general parameters customary in the
banking industry or arising pursuant to such banking institution’s general terms and conditions; 
 (i) Liens on specific items of
inventory or other goods (other than fixed or capital assets) and proceeds thereof of any Person securing such Person’s obligations in respect of bankers’ acceptances or letters of credit issued or created for the account of such Person to
facilitate the purchase, shipment or storage of such inventory or other goods in the ordinary course of business; 
 (j) Liens in favor of
customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business so long as such Liens only cover the related goods; 

(k) Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or
other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; and 
 (l) Liens in favor of the Agent
for the benefit of the Secured Parties granted pursuant to any Loan Document; 
 provided that the term “Permitted
Encumbrances” shall not include any Lien securing Indebtedness (other than pursuant to the foregoing clause (l)). 
 “Permitted
Equity” means Equity Interests of Intermediate Holdings issued in exchange for cash that by its terms (or by the terms of any Equity Interest into which it is convertible or for which it is exchangeable) or upon the happening of any event
or otherwise, (a) does not mature and is not mandatorily redeemable, in whole or in part, or required (including at the option of the holder thereof) to be repurchased or redeemed, in whole or in part, by Intermediate Holdings, and which does
not require the payment of cash dividends or distributions (other than Permitted Tax Payments), in each case, prior to the date that is at least one hundred eighty-one (181) days after the Maturity Date,
(b) is not secured by the assets of any Loan Party, (c) is not convertible or exchangeable into Indebtedness of any Loan Party, (d) does not constitute Indebtedness of Intermediate Holdings or any Restricted Subsidiary, (e) does
not result in a Change of Control and (f) is issued at a time and in a manner when no Event of Default then exists or would be caused thereby. 

  
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 “Permitted Equity Issuances” means one or more transactions whereby
Intermediate Holdings issues Permitted Equity to the holders of its Equity Interests for cash consideration, or the holders of its Equity Interests make a capital contribution in cash to Intermediate Holdings, so long as (i) all of the proceeds
of such issuance or contribution are promptly contributed by Intermediate Holdings to the Borrower, (ii) such issuance does not result in a Change of Control and (iii) the proceeds of such issuance or capital contribution are promptly used
by the Borrower to pay for Consolidated Capital Expenditures or pay the purchase price with respect to a Permitted Acquisition or otherwise applied in a manner not prohibited under this Agreement. 

“Permitted Existing Joint Venture” means each of 632 N. Dearborn Operations, LLC, BHA Hospitality LLC, Womens Club IP, LLC,
Womens Club Holdings, LLC, HCI/T OM Member LLC, 29th Street Club Brands LLC and 29th Street F&B/Hotel Brands LLC. 
 “Permitted
Investments” means: 
 (a) direct obligations of, or obligations the principal of and interest on which are unconditionally
guaranteed by, the United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America); 

(b) fully collateralized repurchase agreements in such amounts and with such financial institutions, as the Borrower may select from time to
time; 
 (c) bank deposits, certificates of deposit, banker’s acceptances, money market deposit accounts and time deposits, which are
issued by any Lender or by a bank organized under the laws of the United States of America, any state or territory thereof or the District of Columbia or any foreign bank; 

(d) money market funds that comply with the criteria set forth in SEC Rule 2a-7 under the Investment
Company Act of 1940; 
 (e) taxable and tax-exempt municipal debt obligations with a long term
minimum credit rating of “A-” by S&P and “A3” by Moody’s, or equivalent short term rating; 

(f) sovereign, sovereign agency, sovereign provincial and supranational debt obligations with a minimum credit rating of “AA-” by S&P and “Aa3” by Moody’s; 
 (g) asset-backed securities that are
collateralized by non-mortgage consumer receivables and that have a minimum credit rating of “AAA” by S&P and “Aaa” by Moody’s; 

(h) United States agency and government-sponsored entity collateralized mortgage obligations with a minimum credit rating of “AAA” by
S&P and “Aaa” by Moody’s; and 

  
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 (i) bonds, notes and/or commercial paper outstanding at any time issued by any Person
organized under the laws of any state of the United States of America, and U.S. Dollar denominated debt obligations of foreign corporations. 
 Such
Investments will be measured as of the date the Investment is acquired with the maximum maturity of any individual investment not exceeding 24 months, and a maximum portfolio average maturity of 12 months. Such Investments will also bear at least
two credit ratings, including (i) for commercial paper, minimum ratings of “A2” by S&P and “P2” by Moody’s, (ii) for longer term bonds and notes, average long-term equivalent ratings of “BBB” by
S&P and “Baa” by Moody’s for the portfolio of this investment class, (iii) for repurchase agreements, bank deposits, certificates of deposit, banker’s acceptances and time deposits, a minimum rating of “BBB” by
S&P and “Baa” by Moody’s is required, unless, with respect to U.S. bank deposits and U.S. certificates of deposit, the amount invested is less than $250,000. To the extent that S&P or Moody’s credit ratings for such
instruments are not available, equivalent credit ratings from Fitch Ratings, Inc. are acceptable. 
 “Permitted Joint
Venture” means (x) each Permitted Existing Joint Venture and (y) any Joint Venture in which any Loan Party holds an interest, so long as (a) the Collateral Agent, on behalf of the Secured Parties, shall have received a First
Priority perfected Lien in all Equity Interests of such Joint Venture which is owned by Intermediate Holdings or any Restricted Subsidiary (or, in lieu of a First Priority perfected Lien in such Equity Interests of the Joint Venture, a First
Priority perfected Lien in 100% of the Equity Interests of each Loan Party which owns an interest in such Joint Venture), (b) all Equity Interests of such Joint Venture which is owned by any Loan Party shall be free and clear of all Liens (other
than a Lien to secure the Loans, if applicable, or other Liens permitted under Section 6.02 if the parenthetical in clause (a) above does not apply) and (c) there shall not exist any restriction or consent requirement on the ability
of such Loan Party to transfer such Loan Party’s interest in such Joint Venture upon the exercise of the Collateral Agent’s right to acquire such interest in connection with the enforcement of the applicable pledge in favor of the
Collateral Agent in accordance with the Security Agreement (other than (i) any customary purchase option, call or similar right in favor of the Joint Venture Partner that gives the Joint Venture Partner the right to purchase all of such Loan
Party’s interest in such Joint Venture in connection with any sale or transfer of such Joint Venture or any interests therein and (ii) any other restrictions reasonably consistent with any similar restrictions contained, as of the
Effective Date, in any joint venture documentation in respect of the Permitted Existing Joint Ventures (other than 632 N. Dearborn Operations, LLC)). 

“Permitted Key Man Condition” means, with respect to any Venue Agreement executed after the Effective Date, a Key Man
Condition therein that (i) may be satisfied by the continued involvement of MSG (or any other MSG Company) or (ii) allows for substitution with other Person(s) with reasonable experience in such capacity upon consent not to be unreasonably
withheld of the landlord or other counterparty to such Venue Agreement. 

  
 38 

 “Permitted New Venue” means any Venue in respect of which the creation or
acquisition of rights and obligations to manage or operate such Venue by the Borrower or any of its Restricted Subsidiaries has occurred after the Effective Date, whether by purchase, merger, execution of a Venue Agreement or otherwise;
provided, 
 (i) immediately prior to, and after giving effect thereto, no Event of Default under Section 7.01(a) or
(b) shall have occurred and be continuing or would result therefrom; 
 (ii) any such Venue Agreement (a) shall not restrict or
prohibit the pledge of all of the Equity Interests of the Borrower or any of its wholly-owned Domestic Subsidiaries (other than any Unrestricted Subsidiary) or the pledge of 65% of the voting Equity Interests, and 100% of the non-voting Equity Interests, of any of the Borrower’s first-tier Restricted Foreign Subsidiaries (in each case, including the Equity Interests of the Subsidiary which is a party to such Venue Agreement to the
extent such Equity Interest is required to be pledged under this Agreement or under the Security Agreement) and (b) shall contain no conditions to, or only require the satisfaction or waiver of Permitted Key Man Conditions or Other Permitted
Transfer Conditions prior to, the exercise of rights and remedies by Collateral Agent with respect to such pledge of Equity Interests; and 

(iii) solely with respect to any such Venue Agreement that is a Venue Lease to which any Loan Party is a party (or expected to be a party),
such Venue Lease shall not restrict the Collateral Agent’s security interest in the personal property of such Loan Party that may be located at such Venue. 

“Permitted Tax Payments” means, with respect to any taxable year for which the Borrower is treated as a partnership or
disregarded entity for Federal income tax purposes, direct or indirect payments, including any payments by the Borrower or its Subsidiaries to Intermediate Holdings so that Intermediate Holdings can make such payments, to any direct or indirect
beneficial holder of any Equity Interests of Intermediate Holdings in an amount equal to the lesser of (i) the amount required to enable such Person to pay any Tax liability arising from such Person’s status as a direct or indirect holder
of Equity Interests of Intermediate Holdings or its Subsidiaries, including in accordance with the Parent Organizational Agreement and (ii) the amount equal to the product of (A) the aggregate amount determined in Section 2.1(b)(i) of
the Parent Organizational Agreement as in effect on the date hereof allocable to all members of Parent but calculated taking into account only items of income, gain, loss, deduction or credit attributable to Intermediate Holdings, Borrower and their
subsidiaries, and (B) 40%; provided that any such payments with respect to any taxable period may be made in quarterly installments during the course of such period using reasonable estimates of the anticipated aggregate amount of such
distributions under this definition for such period, (A) with any excess of aggregate installments actually paid with respect to any such period over the amount allowable under this definition for such period reducing the amount of Permitted
Tax Payments with respect to the immediately subsequent period (and, to the extent such excess is not fully absorbed in the immediately subsequent period, the following period(s)) and (B) with any excess of the amount allowable for under this
definition for such period over the aggregate installments actually paid with respect to any such period increasing the amount of Permitted Tax Payments with respect to the immediately subsequent period. 

  
 39 

 “person” or “Person” means any natural person,
corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 

“Plan” means an employee pension benefit plan (other than a Multiemployer Plan) which is covered by Title IV or
Section 302 of ERISA or subject to the minimum funding standards under Section 412 of the Code and is either (i) maintained by a member of the Controlled Group for employees of a member of the Controlled Group or (ii) any other
arrangement under which more than one employer makes contributions and to which a member of the Controlled Group is then making or accruing an obligation to make contributions or has within the preceding five plan years made or accrued an obligation
to make contributions. 
 “Plan Asset Regulations” means 29 CFR § 2510.3-101
et seq., as modified by Section 3(42) of ERISA, as amended from time to time. 
 “Platform” has the meaning given to
such term in Section 8.03(a). 
 “Prepayment Event” means: 

(a) any Disposition (including pursuant to a sale and leaseback transaction, a Division or otherwise) of any property or asset of Intermediate
Holdings or any Restricted Subsidiary, other than Dispositions to or with a Loan Party, resulting in the receipt by any Restricted Party of Net Proceeds in excess of $1,000,000 with respect to any one such disposition or $2,500,000 in the aggregate
in any trailing twelve month period; or 
 (b) any casualty or other insured damage to, or any taking under power of eminent domain or by
condemnation or similar proceeding of, any property or asset of the Borrower or any Restricted Subsidiary resulting in the receipt by any Restricted Party of Net Proceeds in excess of $1,000,000 with respect to any one such event or $2,500,000 in
the aggregate in any trailing twelve month period; or 
 (c) the incurrence by the Borrower or any Restricted Subsidiary of any Indebtedness
(other than Loans), other than Indebtedness permitted under Section 6.01 or permitted by the Required Lenders pursuant to Section 9.02. 

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

  
 40 

 “Private Side Lender Representatives” means, with respect to any Lender,
representatives of such Lender that are not Public Side Lender Representatives. 
 “Pro Forma Acquisition Adjustments” as
defined in the definition of “Pro Forma Target EBITDA”. 
 “Pro Forma Basis” and “pro forma
effect” shall mean, as to any Person, for any event as described below (each, a “Pro Forma Event”) that occurs subsequent to the commencement of a period for which the financial effect of such event is being calculated,
such calculation as will give pro forma effect to each such event as if such event occurred on the first day of the period of four fiscal quarters most recently ended on or before the occurrence of such event (the “Reference
Period”): 
 (x) pro forma effect shall be given to any Disposition, Permitted Acquisition or other Investment, Restricted Payment,
Subsidiary designation, Subsidiary Redesignation, Consolidated Capital Expenditure, incurrence of Indebtedness or any other transaction subject to calculation on a “Pro Forma Basis” as indicated in this Agreement, in each case to the
extent such Pro Forma Event occurred during the Reference Period; and 
 (y) in making any determination on a Pro Forma Basis, the following
shall apply: 
 (i) (A) all Indebtedness (including Indebtedness issued, incurred or assumed as a result of, or to
finance, any relevant Pro Forma Event and for which the financial effect is being calculated, whether incurred under this Agreement or otherwise, but excluding normal fluctuations in revolving Indebtedness incurred for working capital purposes not
to finance any acquisition) issued, incurred, assumed or permanently repaid during the Reference Period shall be deemed to have been issued, incurred, assumed or permanently repaid at the beginning of such period, (B) if any such Indebtedness
bears a floating rate of interest, the interest expense on such Indebtedness will be calculated as if the rate in effect on the applicable calculation date had been the applicable rate for the entire Reference Period and (C) interest on any
Indebtedness under a revolving credit facility shall be computed based upon the average daily balance of such Indebtedness during the portion of the period during which the Indebtedness was outstanding, 

(ii) (A) with respect to any Subsidiary Redesignation then being designated, effect shall be given to such Subsidiary
Redesignation and with all other Subsidiary Redesignations which have occurred after the first day of the relevant Reference Period and on or prior to the date of the respective Subsidiary Redesignation then being designated, collectively, as of the
first day of the applicable Reference Period, and (B) any designation of a Subsidiary as an 

  
 41 

 
Unrestricted Subsidiary, effect shall be given to such designation and all other designations of Subsidiaries as Unrestricted Subsidiaries after the first day of the relevant Reference Period and
on or prior to the date of the then applicable designation of a Subsidiary as an Unrestricted Subsidiary, collectively, as of the first day of the applicable Reference Period; 

(iii) any Person that is an Immaterial Subsidiary or Guarantor Subsidiary on the applicable calculation date will be deemed to
have been an Immaterial Subsidiary or Guarantor Subsidiary, as applicable, at all times during the Reference Period; 
 (iv)
any Person that is not an Immaterial Subsidiary or Guarantor Subsidiary on the applicable calculation date will be deemed not to have been an Immaterial Subsidiary or Guarantor Subsidiary, as applicable, at any time during the Reference Period; 

(v) any Joint Venture which is designated as a Designated Joint Venture on any Compliance Certificate will be deemed to have
been a Designated Joint Venture at all times during the measurement period covered by such Compliance Certificate; and 

(vi) with respect to any Disposition (including any sale of any Person), all income statement items (whether positive or
negative) attributable to the property or Person disposed of in such Disposition shall be excluded. 
 In the event that any
calculation is being performed on a Pro Forma Basis for purposes of determining whether a Pro Forma Event is permitted by any covenant hereunder, a Financial Officer of the Borrower shall have provided a written certification to the Agent setting
forth a reasonably detailed statement or schedule of such calculation on a Pro Forma Basis and thereby demonstrating that such Pro Forma Event is permitted under such covenant. 

Pro forma calculations made pursuant to this definition of the term “Pro Forma Basis” shall be determined in good
faith by a Financial Officer of the Borrower and may include: 
 (I) additions to Consolidated Adjusted EBITDA in respect of
the amount of Cost Savings projected by the Borrower in good faith, which Cost Savings shall be calculated on a Pro Forma Basis as though such Cost Savings had been realized on the first day of such period, net of the amount of actual benefits
realized during such period from such actions; provided, that (1) a Financial Officer of the Borrower shall have provided a reasonably detailed statement or schedule of such Cost Savings to the Agent (which statement or schedule shall be
in a form acceptable to the Agent, such acceptance not to be unreasonably withheld or delayed) and such Financial Officer of the Borrower shall have certified to the Agent that (A) such Cost Savings are reasonably identifiable, reasonably
attributable to the actions specified and reasonably 

  
 42 

 
anticipated to result from the relevant actions taken, and (B) such actions have been taken, are ongoing and the benefits resulting therefrom are anticipated by the Borrower to be realized
within six (6) months of taking such actions, (2) either (x) such Cost Savings shall have been approved in writing by the Agent (acting at the direction of the Required Lenders), which approval shall be made in the Agent’s and
Required Lenders’ reasonable credit judgment or (y) an independent certified public accountant of recognized national standing selected by Intermediate Holdings confirms in writing that such Cost Savings are reasonably anticipated to
result from the relevant actions taken within six (6) months of taking such actions, (3) no Cost Savings shall be added to Consolidated Adjusted EBITDA for any period to the extent duplicative of any expenses or charges relating to such
Cost Savings that are otherwise added back in the calculation of Consolidated Adjusted EBITDA for such period, and (4) the aggregate amount of Cost Savings added pursuant to this clause shall not exceed, when combined with any Pro Forma
Acquisition Adjustments, fifteen percent (15%) of Consolidated Adjusted EBITDA (calculated before the addback of such Cost Savings and Pro Forma Acquisition Adjustments) in the aggregate for any period; provided, further, that any such
projected Cost Savings that are not realized within six (6) months may no longer be added in calculating Consolidated Adjusted EBITDA; and 

(II) (1) with respect to any Target owned or managed or operated by Intermediate Holdings or any Restricted Subsidiary for
which the Agent has received financial statements pursuant to Section 5.01 for less than twelve (12) months, Pro Forma Target EBITDA allocated to each period prior to the acquisition or assumption of management thereof included in the
trailing period for which Consolidated Adjusted EBITDA is being calculated minus (2) with respect to any Disposition consummated within the period in question, Consolidated Adjusted EBITDA (calculated before giving effect to this clause (2))
attributable to the Subsidiary, profit center, Venue or other asset which is the subject of a Disposition from the beginning of such period until the date of consummation of such Disposition. 

“Pro Forma Event” as defined in the definition of “Pro Forma Basis”. 

“Pro Forma Target EBITDA” means with respect to any Target, Consolidated Adjusted EBITDA for such Target for the most recent
four (4) consecutive fiscal quarter periods preceding the acquisition thereof (which Consolidated Adjusted EBITDA for the Target shall be calculated using the historical audited financial statements of such Target for such period or, for any
period for which audited financial statements of such Target are not available, such financial statements which are certified as fairly representing, in all material respects, the financial condition of such Target for the period covered, which
certification shall be signed by a Financial Officer of the Borrower), adjusted by verifiable expense reductions, including excess owner compensation, if any, calculated on a
month-by-month basis, to the extent such adjustments (collectively, “Pro Forma Acquisition Adjustments”) (a) are expected to be realized within six
(6) months following the acquisition of such Target and are reasonably attributable to, and reasonably expected to result from taking, actions 

  
 43 

 specified during such time period, (b) shall be certified as such in a certificate of a Financial
Officer of the Borrower describing such reductions in reasonable detail, (c) such adjustments shall have been either (x) approved in writing by the Agent (acting at the direction of the Required Lenders), which approval shall not be
unreasonably withheld or delayed or (y) confirmed in writing by an independent certified public accountant of recognized national standing selected by Intermediate Holdings as being reasonably expected to result from taking such actions
specified during such time period, (d) do not exceed, when combined with any Cost Savings for such period, fifteen percent (15%) of Consolidated Adjusted EBITDA (calculated before the addback of such Cost Savings and Pro Forma Acquisition
Adjustments) in the aggregate for all Permitted Acquisitions in any period, in each case as calculated by the Borrower in accordance herewith; provided, further, that any such projected Pro Forma Acquisition Adjustments that are not
realized within such six (6) month period may no longer be added in calculating Pro Forma Target EBITDA, and (e) are not duplicative of any expenses, charges or items that are otherwise added back or included in the calculation of
Consolidated Adjusted EBITDA. 
 “Public Side Lender Representatives” means, with respect to any Lender, representatives of
such Lender that do not wish to receive MNPI. 
 “QFC” has the meaning assigned to the term “qualified financial
contract” in, and shall be interpreted in accordance with, 12 U.S.C. 
5390(c)(8)(D). 
 “QFC Credit Support” has
the meaning assigned to it in Section 9.19. 
 “Real Estate Asset” means, at any time of determination, any fee,
leasehold, or license interest then owned by any Loan Party in any real property. 
 “Recipient” means the Agent, any
Lender and any Issuing Bank, or any combination thereof (as the context requires). 
 “Reference Period” as defined in the
definition of “Pro Forma Basis”. 
 “Register” has the meaning given to such term in Section 9.04(b)(iv).

 “Regulation D” means Regulation D of the Board, as in effect from time to time and all official rulings and
interpretations thereunder or thereof. 
 “Regulation T” means Regulation T of the Board, as in effect from time to time
and all official rulings and interpretations thereunder or thereof. 
 “Regulation U” means Regulation U of the Board, as
in effect from time to time and all official rulings and interpretations thereunder or thereof. 
 “Regulation X” means
Regulation X of the Board, as in effect from time to time and all official rulings and interpretations thereunder or thereof. 

  
 44 

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

“Required Lenders” means, at any time, Lenders having or holding, without duplication, Term Loan Exposure, Revolving Exposure
and undrawn Commitments representing more than 50% of the sum of (i) the Aggregate Term Loan Exposure of all Lenders; (ii) the Aggregate Revolving Exposure of all Lenders; and (iii) undrawn Commitments of all Lenders; provided
that the portion of Aggregate Term Loan Exposure and the portion of Aggregate Revolving Exposure, held or deemed held by, and the undrawn Commitments of, any Defaulting Lender shall be excluded for purposes of making a determination of Required
Lenders; provided, further, that at any time there are two or more non-Defaulting Lenders, in addition to the foregoing, “Required Lenders” shall require at least two non-Defaulting Lenders. 
 “Required Revolving Lenders” means, at any time, Revolving
Lenders holding, without duplication, more than 50% of the Aggregate Revolving Commitments of all Lenders or, if the Revolving Commitments have terminated or expired, more than 50% of the Aggregate Exposure of all Lenders; provided that the
undrawn Revolving Commitment of, and the portion of the Aggregate Exposure held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders; provided, further, that at
any time there are two or more Revolving Lenders that are non-Defaulting Lenders, in addition to the foregoing, “Required Revolving Lenders” shall require at least two Revolving Lenders that are non-Defaulting Lenders. 
 “Restricted Foreign Subsidiary” means, at each relevant time
of determination, any wholly-owned Foreign Subsidiary of the Borrower which is not a Guarantor. 
 “Restricted Party”
means, at each relevant time of determination, Intermediate Holdings, the Borrower and each other Restricted Subsidiary. 

“Restricted Payment” means (i) any dividend or other distribution, direct or indirect, on account of any shares of any
class of Equity Interests of Intermediate Holdings or the Borrower now or hereafter outstanding, except a dividend payable solely in shares of that class of Equity Interests to the holders of that class; (ii) any redemption, retirement, sinking
fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of Equity Interests of Intermediate Holdings or the Borrower now or hereafter outstanding; (iii) any payment made to retire, or to
obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of Equity Interests of Intermediate Holdings or the Borrower now or hereafter outstanding; (iv) management or similar fees payable to MSG,
any MSG Company, any equity investor or any non-Loan Party Affiliate of Intermediate Holdings to the extent paid in cash (and for the avoidance of doubt, such management or similar fees shall not include the
Minimum Commitment (as defined in the Parent Organizational 

  
 45 

 Agreement) or any TAO Group Bonus Payments); and (v) any payment or prepayment of principal of,
premium, if any, or interest on, or redemption, purchase, retirement, defeasance (including in substance or legal defeasance), sinking fund or similar payment with respect to, any Subordinated Indebtedness to the extent paid in cash by any
Restricted Party. 
 “Restricted Subsidiary” means, at each relevant time of determination, the Borrower and each
wholly-owned Subsidiary of the Borrower, other than any Immaterial Subsidiary or Unrestricted Subsidiary. 
 “Resulting Revolving
Borrowings” has the meaning given to such term in Section 2.18(e). 
 “Revolving Commitment” means, with
respect to each Lender, the commitment of such Lender to make Revolving Loans and to acquire participations in Letters of Credit hereunder, expressed as an amount representing the maximum aggregate permitted amount of such Lender’s Revolving
Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.06, (b) increased from time to time pursuant to Section 2.18 and (c) reduced or increased from time to time pursuant to assignments
by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Revolving Commitment is set forth on Schedule 1.02, or in the Assignment and Assumption or the Incremental Facility Agreement pursuant to which such
Lender shall have assumed its Commitment, as applicable. The initial aggregate amount of the Lenders’ Revolving Commitments as of the Effective Date is $25,000,000. 

“Revolving Exposure” means, with respect to any Lender at any time, the sum of the outstanding principal amount of such
Lender’s Revolving Loans and its LC Exposure at such time. 
 “Revolving Lender” means, as of any date of
determination, each Lender that has a Revolving Commitment or, if the Revolving Commitments have terminated or expired, a Lender with Revolving Exposure. 

“Revolving Loans” means the Loans made pursuant to Section 2.01(a). 

“S&P” means S&P Global Ratings, a business unit of Standard & Poor’s Financial Services LLC, a
subsidiary of S&P Global Inc. 
 “Sanctioned Country” means, at any time, a country, region or territory which is
itself the subject of any Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea and Syria). 
 “Sanctioned
Person” means, at any time, (a) any Person located, organized or resident in a Sanctioned Country, (b) any Person that is the subject of any Sanctions or (c) any Person owned or controlled by any such Person or Persons
described in the foregoing clauses (a) or (b). 

  
 46 

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

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

“Secured Parties” has the meaning set forth in the Security Agreement. 

“Securities Account” has the meaning set forth in the Security Agreement. 

“Security Agreement” means the Security Agreement, dated as of the Effective Date, among the Borrower, the Guarantors and the
Agent, for the benefit of the Agent and the other Secured Parties. 
 “Security Documents” means the Security Agreement and
such other documents or instruments as may be executed and delivered by a Restricted Party pursuant to Section 5.10 or any other Loan Document to secure its obligations hereunder. 

“Senior Leverage Multiple” means, as of any date of determination (a) on or prior to December 31, 2021, 3.00:1.00,
and (b) thereafter, 2.50:1.00. 
 “Senior Leverage Ratio” means the ratio, determined on a Pro Forma Basis, as of the
last day of each fiscal quarter ending after the Effective Date (or any other date of determination) of (i) Consolidated Senior Debt as of such day, to (ii) Consolidated Adjusted EBITDA for the four-fiscal quarter period ending on such
date (or if such date of determination is not the last day of a fiscal quarter, for the four-fiscal quarter period ending as of the most recently concluded fiscal quarter for which financial statements have been delivered pursuant to
Section 5.01(a) or (b)). 
 “Solvent” means, as to any Person as of any date of determination, that on such date
(a) the fair market value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair saleable value of such Person is not less than the amount that
will be required to pay the probable liability of such Person on its debts, including contingent debts, as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities,
including contingent debts and liabilities, beyond such Person’s ability to pay such debts and liabilities as they mature and (d) such Person is not engaged in a business or a transaction, and is not about to engage in a business or a
transaction, for which such Person’s property would constitute an unreasonably small capital. For purposes of this definition, the amount of any contingent liability or contingent debt at any time shall be computed as the amount that, in light
of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability or debt. 

  
 47 

 “Statutory Reserve Rate” means a fraction (expressed as a decimal), the
numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established
by the Board to which the Agent is subject with respect to the Adjusted LIBO Rate for eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D). Such reserve percentage shall include those imposed
pursuant to Regulation D. Eurocurrency Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to
time to any Lender under Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“Sub-Holdings” means Tao Group Sub-Holdings
LLC, a Delaware limited liability company. 
 “Subordinated Indebtedness” means Indebtedness incurred by any Restricted
Party pursuant to documentation which (a) is and remains at all times unsecured, (b) expressly recognizes the Obligations as “senior obligations” or a similar phrase thereunder and which is expressly subordinated to the
prior payment in full and satisfaction in full in cash of the Obligations on terms and conditions reasonably satisfactory to the Agent, (c) is not guaranteed by Intermediate Holdings or any of its Subsidiaries, other than any Guarantor,
(d) does not require amortization, mandatory prepayments or similar payment of principal (including AHYDO payments) prior to the date that is at least ninety-one (91) days after the Maturity Date and
(e) such Indebtedness and the related governing documents shall have covenant, default and remedy provisions no more restrictive and no more onerous to the Restricted Parties than this Agreement and the other Loan Documents. 

“Subsidiary” means, with respect to any Person (such Person being referred to in this definition of “Subsidiary” as
the “parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership
interests representing more than 50% of the Equity Interests or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, Controlled or held, or
(b) that is, as of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. References to a Subsidiary shall mean a Subsidiary of the Borrower unless
the context expressly provides otherwise. 
 “Subsidiary Redesignation” has the meaning set forth in the definition of
“Unrestricted Subsidiary”. 

  
 48 

 “Supported QFC” has the meaning assigned to it in Section 9.19. 

“Swap Agreement” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate
transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions,
interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar
transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any
kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master
Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement; provided that no
phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or its Subsidiaries, if any, shall be a Swap Agreement. 

“TAO Group Bonus Payments” means any bonus, earn-out or similar payment in excess of
the fixed annual salary and non-cash benefits payable by any Restricted Party to any TAO Group Principal in accordance with the respective TAO Group Employment Agreements, including any bonuses or other
compensation paid to any TAO Group Principal in accordance with the Bonus and Incentive Plan attached as an exhibit to the Parent Organizational Agreement, as in effect on the Effective Date and disclosed in writing to the Agent and Lenders. For the
avoidance of doubt, no payments on account of any “Earn-Out Amount” (as defined in the Acquisition Agreement) shall be considered TAO Group Bonus Payments. 

“TAO Group Employment Agreements” means each employment, consulting, management or similar agreement entered into between the
Borrower and each of the TAO Group Principals on or before January 31, 2017, as each of the same may be amended, restated, supplemented or otherwise modified from time to time with the prior written consent of the Agent (acting at the direction
of the Required Lenders), such consent not to be unreasonably withheld or delayed. 
 “TAO Group Principals” means each of
Marc Packer, Jason Strauss, Noah Tepperberg and Richard Wolf. 
 “Target” means (a) any other Person or business unit
or asset group of any other Person acquired or proposed to be acquired in an acquisition (including, for the avoidance of doubt, any Venue) and (b) any pre-existing venue of which Intermediate Holdings or
any of its Restricted Subsidiaries is proposed to become the manager or operator. 

  
 49 

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

“Term Lender” means, as of any date of determination, each Lender having a Term Loan Commitment or that holds outstanding
Term Loans. 
 “Term Loan Commitment” means, (a) as to any Term Lender, the aggregate commitment of such Term Lender
to make Term Loans as set forth on Schedule 1.03 or in the most recent Assignment Agreement or other documentation contemplated hereby executed by such Term Lender and (b) as to all Term Lenders, the aggregate commitment of all Term
Lenders to make Term Loans, which aggregate commitment shall be $40,000,000 on the date of this Agreement. After advancing the Term Loans, each reference to a Term Lender’s Term Loan Commitment shall refer to that Term Lender’s Applicable
Percentage of the Term Loans. 
 “Term Loan Exposure” means, with respect to any Lender at any time, the sum of the
outstanding principal amount of such Lender’s Term Loans at such time. 
 “Term Loans” means the Loans made pursuant
to Section 2.01(b). 
 “Third Party Funds” means any accounts or funds, or any portion thereof, received by the
Borrower or any of its Restricted Subsidiaries as agent on behalf of third parties in accordance with a written agreement that imposes a duty upon the Borrower or one or more of its Restricted Subsidiaries to collect and remit those funds to such
third parties. 
 “Third Party LC Documents” means any and all agreements, instruments or other documents evidencing or
relating to a Third Party Letter of Credit, which shall be in form and substance reasonably satisfactory to the Administrative Agent. 

“Third Party LC Issuer” means a financial institution reasonably acceptable to the Administrative Agent that issues standby
letters of credit for the account of any Restricted Party. 
 “Third Party Letter of Credit” means a standby letter of
credit issued, or to be issued, for the account of any Restricted Party by a Third Party LC Issuer pursuant to Third Party LC Documents. 

“Total Leverage Multiple” means, as of any date of determination (a) on or prior to December 31, 2021, 4.00:1.00,
and (b) thereafter, 3.50:1.00. 
 “Total Leverage Ratio” means the ratio, determined on a Pro Forma Basis, as of the
last day of each fiscal quarter ending after the Effective Date (or any other date of determination) of (i) Consolidated Total Debt as of such day, to (ii) Consolidated Adjusted EBITDA for the four-fiscal quarter period ending on such date
(or if such date of determination is not the last day of a fiscal quarter, for the four-fiscal quarter period for which financial statements have most recently been delivered pursuant to Section 5.01(a) or (b)). 

  
 50 

 “Transaction Costs” means the fees, costs and expenses payable by
Intermediate Holdings, the Borrower or any of the Borrower’s Subsidiaries to a Person who is not an Affiliate of any such entity in connection with the transactions contemplated by the Loan Documents and the refinancing of existing
Indebtedness, including any financial advisory fees, filing fees, accounting fees, legal fees and other similar advisory and consulting fees and related out-of-pocket
expenses and other fees, discounts and commissions, including with regard to arranging or syndication of the Loans. 

“Transactions” means the execution, delivery and performance by the Borrower of this Agreement, the borrowing of Loans and
the use of the proceeds thereof (including to refinance all amounts outstanding under the Existing Credit Agreement) and the issuance of Letters of Credit hereunder. 

“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans
comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate. 
 “UCC” means
the Uniform Commercial Code as in effect in the State of New York or any other applicable jurisdiction. 
 “Unrestricted
Subsidiary” means (i) any Subsidiary of the Borrower created after the Effective Date, which has not become a Restricted Subsidiary at any prior time and that is designated by the Borrower as an Unrestricted Subsidiary within 30 days
after formation or acquisition of such Subsidiary by written notice to the Administrative Agent (who will inform the Lenders); provided, that, the Borrower shall only be permitted to so designate an Unrestricted Subsidiary so long as
(a) no Default or Event of Default has occurred and is continuing or would result therefrom, (b) immediately after giving effect to such designation, the Borrower shall be in compliance with the financial covenants set forth in
Section 6.11 after giving pro forma effect to such designation as of the last day of the fiscal quarter most recently ended prior to the date thereof for which financial statements have been (or were required to be) delivered pursuant to
Section 5.01, (c) such Unrestricted Subsidiary shall only be capitalized (to the extent capitalized by the Borrower or any of its Restricted Subsidiaries) through Investments that are permitted by, and in compliance with, Section 6.05(r),
and any prior or concurrent Investments in such Subsidiary by the Borrower or any of its Restricted Subsidiaries shall be deemed to have been made under Section 6.05(r), (d) without duplication of clause (c), any net assets owned by such
Unrestricted Subsidiary (including the assets of any Subsidiary of such Unrestricted Subsidiary) at the time of the initial designation thereof shall be treated as Investments pursuant to Section 6.05(r) and (e) the Borrower shall have
delivered to the Administrative Agent (who will distribute to the Lenders) an officer’s certificate executed by a Financial Officer of the Borrower certifying compliance with the requirements of preceding clauses (a), (b) and (c); and
(ii) any Subsidiary of an Unrestricted Subsidiary. The Borrower may designate any 

  
 51 

 
Unrestricted Subsidiary to be a Restricted Subsidiary for purposes of this Agreement by written notice to the Administrative Agent, who will inform the Lenders (each, a “Subsidiary
Redesignation”); provided, that (x) no Event of Default has occurred and is continuing or would result therefrom, and (y) the Borrower shall have delivered to the Administrative Agent (who will distribute to the Lenders),
an officer’s certificate executed by a Financial Officer of the Borrower, certifying compliance with the requirements of preceding clause (x). Notwithstanding anything in this Agreement to the contrary, any Subsidiary designated as an
Unrestricted Subsidiary shall not be deemed to be a Restricted Subsidiary or a Subsidiary of the Borrower for any purposes of this Agreement, including, without limitation, for purposes of financial definitions and financial calculations contained
herein. 
 “U.S. Dollars” and the sign “$” means the lawful money of the United States of America. 

“U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.

 “U.S. Special Resolution Regime” has the meaning assigned to it in Section 9.19. 

“U.S. Tax Compliance Certificate” has the meaning assigned to such term in Section 2.14(f)(ii)(B)(iii). 

“Venue” means, as of any date of date determination, a restaurant, nightclub, lounge, bar, beach facility or similar venue
which is managed or operated by the Borrower or any of its Subsidiaries. 
 “Venue Agreement” means a Venue Management
Contract, a Venue Lease or any other similar agreement or contract pursuant to which the Borrower or any of its Restricted Subsidiaries shall be responsible for operating or managing any Venue. 

“Venue Lease” means any lease, sublease or similar agreement pursuant to which any Restricted Party holds any leasehold
interest in any Leasehold Venue. 
 “Venue Management Contract” means any management contract, services agreement or
similar agreement pursuant to which any Restricted Party has agreed to operate and/or manage any Managed Venue. 
 “Withdrawal
Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

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

  
 52 

 SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement,
Loans and Borrowings may be classified and referred to by Class (e.g., a “Revolving Loan” or “Revolving Borrowing”) or by Type (e.g., a “Eurocurrency Loan” or “Eurocurrency Borrowing”) or by
Class and Type (e.g., a “Eurocurrency Revolving Loan” or “Eurocurrency Revolving Borrowing”). 
 SECTION
1.03. Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter
forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the
word “shall”. Unless the context requires otherwise (i) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time
to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (ii) any reference herein to any Person shall be construed to include such Person’s
successors and assigns, (iii) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof,
(iv) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (v) any reference to any law, rule or regulation herein shall,
unless otherwise specified, refer to such law, rule or regulation as amended, modified or supplemented from time to time and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to
refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 
 SECTION
1.04. Accounting Terms; GAAP. 
 (a) Except as otherwise expressly provided herein, all terms of an accounting or financial nature
shall be construed in accordance with GAAP; provided that, if the Borrower notifies the Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in
the application thereof on the operation of such provision (or if the Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or
after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or
such provision amended in accordance herewith. 
 (b) Notwithstanding the foregoing Section 1.04(a) or any other provision contained
herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election by the Borrower or any of its Subsidiaries to
measure an item of Indebtedness using “fair value” (as permitted by Financial 

  
 53 

 
Accounting Standards Board Accounting Standards Codification 825-10-25—Fair Value Option (formerly known as
FASB 159) or any similar accounting standard), and all such computations shall be made instead using the “par value” of such Indebtedness. Notwithstanding anything to the contrary contained in Section 1.04(a), the definitions of
“Capital Lease” or “Capital Lease Obligations” or any other provision in any Loan Document, any lease (whether such lease is in existence as of December 30, 2018 or entered into thereafter) that would constitute a capital
lease in conformity with GAAP as in effect on December 30, 2018 (assuming for purposes hereof that any such future leases were in existence on December 30, 2018) shall be considered capital leases (without giving effect to the adoption or
effectiveness of any changes in, or changes in the application of, GAAP after December 30, 2018 with respect thereto), and all calculations and deliverables under this Agreement or any other Loan Document shall be made or delivered, as
applicable, in accordance therewith and the effects of FASB ASC 840 and FASB ASC 842 shall be disregarded. 
 SECTION 1.05. Interest
Rates; LIBOR Notification. The interest rate on Eurocurrency Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which
contributing banks may obtain short-term borrowings from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to
make rate submissions to the ICE Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank offered rate. As a result, it is possible
that commencing in 2022, the London interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurocurrency Loans. In light of this eventuality, public and
private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the London interbank offered rate is no longer available or in
certain other circumstances as set forth in Section 2.11(b) of this Agreement, such Section 2.11(b) provides a mechanism for determining an alternative rate of interest. The Agent will notify the Borrower, pursuant to Section 2.11, in
advance of any change to the reference rate upon which the interest rate on Eurocurrency Loans is based. However, the Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration,
submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBO Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without
limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate, as it may or may not be adjusted pursuant to Section 2.11(b), will be similar to, or produce the same value or economic
equivalence of, the LIBO Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability. 

  
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 ARTICLE II 

The Credits 
 SECTION
2.01. Commitments. Subject to the terms and conditions set forth herein, (a) each Revolving Lender (severally and not jointly) agrees to make Revolving Loans to the Borrower from time to time during the Availability Period in an
aggregate principal amount that will not result in such Lender’s Revolving Exposure exceeding such Lender’s Revolving Commitment or the Aggregate Revolving Exposure exceeding the Aggregate Revolving Commitment and (b) each Term Lender
with a Term Loan Commitment agrees to make a Term Loan to the Borrower on the Effective Date, in an amount equal to such Lender’s Term Loan Commitment by making immediately available funds available to the Agent’s designated account, not
later than the time specified by the Agent. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans at any time and from time to time. Amounts repaid or
prepaid in respect of Term Loans may not be reborrowed. All Loans shall be denominated in U.S. Dollars. 
 SECTION 2.02. Loans and
Borrowings. (a)Each Loan shall be made as part of a Borrowing consisting of Loans of the same Class and Type made by the Lenders ratably in accordance with their respective Commitments of the applicable Class. The failure of any Lender to
make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make
Loans as required. The Term Loans shall amortize as set forth in Section 2.07(a). 
 (b) Subject to Section 2.11, each Revolving
Borrowing and Term Loan Borrowing shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith; provided that all Borrowings made on the Effective Date must be made as ABR Borrowings unless
the Borrower shall have given the notice required for a Eurocurrency Borrowing under Section 2.03 and provided an indemnity letter, in form and substance reasonably satisfactory to the Agent, extending the benefits of Section 2.13 to
Lenders in respect of such Borrowings. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions of Sections 2.11, 2.13 and
2.14 shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement and shall
not increase the amount of increased costs to which such Lender shall be entitled under Section 2.12. 
 (c) At the commencement of each
Interest Period for any Eurocurrency Revolving Borrowing, such Revolving Borrowing shall be in an aggregate amount that is an integral multiple of $500,000 and not less than $1,000,000; provided that a Eurocurrency Revolving Borrowing
(i) that results from a continuation of an outstanding Eurocurrency Revolving Borrowing or (ii) that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.19(e) may be in an

  
 55 

 
aggregate amount that is equal to such outstanding Borrowing or reimbursement obligation, as applicable. At the time that each ABR Revolving Borrowing is made, such Revolving Borrowing shall be
in an aggregate amount that is an integral multiple of $500,000 and not less than $1,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Aggregate Revolving Commitment.
Borrowings of more than one Type may be outstanding at the same time; provided that there shall not at any time be more than a total of 12 (or such greater number as may be agreed to by the Agent) Eurocurrency Borrowings outstanding. 

(d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert to or
continue, any Eurocurrency Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date applicable thereto. 

SECTION 2.03. Requests for Borrowings. To request a Borrowing, the Borrower shall notify the Agent of such request in writing by
submitting a Borrowing Request (a) in the case of a Eurocurrency Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing (or, in the case of any Eurocurrency Borrowing to be
made on the Effective Date, such shorter period of time as may be agreed to by the Agent) or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the day of the proposed Borrowing; provided that any
such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.19(e) may be given not later than 10:00 a.m., New York City time, on the date of the proposed Borrowing. Each such
Borrowing Request shall be irrevocable. Each Borrowing Request shall specify the following information in compliance with Section 2.02: 

(i) the aggregate amount of such Borrowing; 

(ii) the date of such Borrowing, which shall be a Business Day; 

(iii) whether such Borrowing is to be (x) an ABR Borrowing or a Eurocurrency Borrowing and (y) a Revolving Borrowing
or a Term Loan Borrowing; 
 (iv) in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable
thereto, which shall be a period contemplated by the definition of the term “Interest Period”; and 
 (v) if the
location and number of the account of the Borrower to which the funds are to be dispersed are different from those set forth in the Borrower’s standing instructions, the location and number of the account of the Borrower to which funds are to
be disbursed. 
 If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is
specified with respect to any requested Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section,
the Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. 

  
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 SECTION 2.04. Funding of Borrowings. (a)Each Lender shall make each Loan to be made
by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 1:00 p.m., New York City time, to the account of the Agent most recently designated by it for such purpose by notice to the Lenders; provided that
the Term Loans shall be made as provided in Section 2.01(b). Except in respect of the provisions of this Agreement covering the reimbursement of Letters of Credit, the Agent will make such Loans available to the Borrower by promptly remitting
the amounts so received, in like funds, to an account of the Borrower; provided that ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.19(e) shall be remitted by the Administrative Agent
to the Issuing Bank. 
 (b) Unless the Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such
Lender will not make available to the Agent such Lender’s share of such Borrowing, the Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance
on such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Agent, then the applicable Lender and the Borrower severally agree to
pay to the Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Agent, at (i) in the case
of a payment to be made by such Lender, the greater of the NYFRB Rate and a rate determined by the Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of a payment to be made by the Borrower, the
interest rate applicable to ABR Loans. If the Borrower and such Lender shall pay such interest to the Agent for the same or an overlapping period, the Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for
such period. If such Lender pays such amount to the Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a
Lender that shall have failed to make such payment to the Agent. 
 SECTION 2.05. Interest Elections. (a)Each Borrowing initially
shall be of the Type and, in the case of a Eurocurrency Borrowing, shall have an initial Interest Period as specified in the applicable Borrowing Request or as otherwise provided in Section 2.03. Thereafter, the Borrower may elect to convert
such Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect
to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate
Borrowing. 

  
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 (b) To make an election pursuant to this Section, the Borrower shall notify the Agent of
such election by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such Interest
Election Request shall be irrevocable. 
 (c) Each Interest Election Request shall specify the following information in
compliance with Section 2.02: 
 (i) the Borrowing to which such Interest Election Request applies and, if different
options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified
for each resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election Request,
which shall be a Business Day; 
 (iii) whether such Borrowing is to be (x) an ABR Borrowing or a Eurocurrency Borrowing
and (y) a Revolving Borrowing or a Term Loan Borrowing; and 
 (iv) if the resulting Borrowing is to be a Eurocurrency
Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 

If any such Interest Election Request requests a Eurocurrency Borrowing but does not specify an Interest Period or fails to specify between an ABR Borrowing
and a Eurocurrency Borrowing, then the Borrower shall be deemed to have selected a Eurocurrency Borrowing with an Interest Period of one month’s duration. 

(d) Promptly following receipt of a Borrowing Request in accordance with this Section, the Agent shall advise each Lender of the details
thereof and of such Lender’s portion of each resulting Borrowing. 
 (e) If the Borrower fails to deliver a timely Interest Election
Request with respect to a Eurocurrency Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be continued as a Loan of
the same Type with the same Interest Period. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Agent, at the request of the Required Lenders, has notified the Borrower of the election to
give effect to this sentence on account of such Event of Default, then, in each such case, so long as such Event of Default is continuing, (i) no outstanding Borrowing may be converted to or continued as a Eurocurrency Borrowing and
(ii) unless repaid, each Eurocurrency Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 

  
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 SECTION 2.06. Termination and Reduction of Commitments. (a) Unless previously
terminated, (i) the Term Loan Commitments shall terminate at 5:00 p.m. (New York City time) on the Effective Date and (ii) all other Commitments shall terminate on the Maturity Date. 

(b) The Borrower may at any time terminate, or from time to time permanently reduce, the Revolving Commitments; provided that
(i) each reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $1,000,000, (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any
concurrent prepayment of the Loans, (A) the Aggregate Revolving Exposure would exceed the Aggregate Revolving Commitment or (B) the Revolving Exposure of any Lender would exceed its Revolving Commitment and (iii) the Aggregate
Revolving Commitments shall not be reduced to an amount less than $1,000,000 unless the Revolving Commitments are terminated in full. 
 (c)
The Borrower shall notify the Agent of any election to terminate or reduce the Revolving Commitments under paragraph (b) of this Section at least two Business Days prior to the effective date of such termination or reduction, specifying such
election and the effective date thereof. Promptly following receipt of any such notice, the Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable;
provided that a notice of termination or reduction of the Revolving Commitments under paragraph (b) of this Section may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case
such notice may be revoked by the Borrower (by notice to the Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Commitments shall be permanent. Each reduction of the
Revolving Commitments shall be made ratably among the Lenders in accordance with their respective Revolving Commitments. 
 SECTION 2.07.
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay to the Agent for the account of each Lender the then unpaid principal amount of each Loan made to the Borrower
by such Lender on the Maturity Date. The Borrower shall repay Term Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to the terms of this Agreement): 

 

					
	 Date
	  	Amount	 
	 June 30, 2019
	  	$	1,250,000	 
	 September 30, 2019
	  	$	1,250,000	 
	 December 31, 2019
	  	$	1,250,000	 
	 March 31, 2020
	  	$	1,250,000	 

  
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	 Date
	  	Amount	 
	 June 30, 2020
	  	$	1,250,000	 
	 September 30, 2020
	  	$	1,250,000	 
	 December 31, 2020
	  	$	1,250,000	 
	 March 31, 2021
	  	$	1,250,000	 
	 June 30, 2021
	  	$	1,250,000	 
	 September 30, 2021
	  	$	1,250,000	 
	 December 31, 2021
	  	$	1,250,000	 
	 March 31, 2022
	  	$	1,250,000	 
	 June 30, 2022
	  	$	2,500,000	 
	 September 30, 2022
	  	$	2,500,000	 
	 December 31, 2022
	  	$	2,500,000	 
	 March 31, 2023
	  	$	2,500,000	 
	 June 30, 2023
	  	$	2,500,000	 
	 September 30, 2023
	  	$	2,500,000	 
	 December 31, 2023
	  	$	2,500,000	 
	 March 31, 2024
	  	$	2,500,000	 

 To the extent not previously repaid, all unpaid Term Loans shall be paid in full in U.S. Dollars by the Borrower on the
Maturity Date. 
 (b) The records maintained by the Agent and the Lenders shall be prima facie evidence of the existence and
amounts of the obligations of the Borrower in respect of the Loans, interest and fees due or accrued hereunder; provided that the failure of the Agent or any Lender to maintain such records or any error therein shall not in any manner affect
the obligation of the Borrower to pay any amounts due hereunder in accordance with the terms of this Agreement. 
 (c) Any Lender may request
that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered
assigns) and in a form approved by the Agent and the 

  
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Borrower. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more
promissory notes in such form payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

SECTION 2.08. Prepayment of Loans. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in
whole or in part without premium or penalty, subject to the requirements of this Section and Section 2.13 (including break funding payments required thereby). 

(b) In the event and on each occasion that the Aggregate Revolving Exposure exceeds the Aggregate Revolving Commitment then in effect
(including as a result of any reduction in the Commitments pursuant to Section 2.06), the Borrower shall promptly prepay Revolving Borrowings in an aggregate amount sufficient to eliminate such excess. 

(c) The Borrower shall notify the Agent by telephone (confirmed by facsimile or electronic transmission) of any optional prepayment and any
mandatory prepayment hereunder (i) in the case of prepayment of a Eurocurrency Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment or (ii) in the case of prepayment of an ABR
Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid
and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment; provided that if a notice of optional prepayment is given in connection with a conditional notice of termination of the
Commitments as contemplated by Section 2.06, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.06. Promptly following receipt of any such notice, the Agent shall advise the
Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully
the required amount of a mandatory prepayment. Each prepayment of a Revolving Borrowing shall be applied ratably to the Revolving Loans included in the prepaid Revolving Borrowing, and each voluntary prepayment of a Term Loan Borrowing shall be
applied ratably to the Term Loans included in the prepaid Term Loan Borrowing in such order of application as directed by the Borrower and each mandatory prepayment of a Term Loan shall be applied in accordance with Section 2.08(e). Prepayments
shall be accompanied by (i) accrued interest to the extent required by Section 2.10 and (ii) break funding payments to the extent required pursuant to Section 2.13. 

(d) In the event and on each occasion that any Net Proceeds are received by or on behalf of Intermediate Holdings, the Borrower or any
Restricted Subsidiary in respect of any Prepayment Event, the Borrower shall, within five (5) Business Days after such Net Proceeds are received, prepay the Obligations as set forth in Section 2.08(e) below in an aggregate amount equal to
100% of such Net Proceeds; provided that, in the case of any event described in clause (a) or (b) of the definition of 

  
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the term “Prepayment Event”, if the Borrower shall deliver to the Agent a certificate of a Financial Officer of the Borrower to the effect that the Borrower or its relevant
Restricted Subsidiaries intend to apply the Net Proceeds from such event (or a portion thereof specified in such certificate), within 365 days after receipt of such Net Proceeds, to acquire (or replace, restore or rebuild) real property,
equipment or other assets (excluding inventory) to be used in the business of the Borrower and/or its Restricted Subsidiaries, and certifying that no Event of Default has occurred and is continuing, then no prepayment shall be required pursuant to
this paragraph in respect of the Net Proceeds specified in such certificate; provided further that to the extent of any such Net Proceeds therefrom that have not been so applied by the end of such
365-day period (or committed to be applied by the end of such 365-day period and applied within 90 days after the end of such
365-day period), at which time a prepayment shall be required in an amount equal to such Net Proceeds that have not been so applied. 

(e) All such amounts pursuant to Section 2.08(d) shall be applied in direct order of maturity to the remaining scheduled principal
payments in respect of the Term Loans. 
 SECTION 2.09. Fees. (a)The Borrower agrees to pay to the Agent for the account of each
Lender (and in the case of any Defaulting Lender, subject to the provisos below) a commitment fee, which shall accrue at the Applicable Commitment Fee Rate on the daily unused amount of the Revolving Commitment of such Lender during the period from
and including the Effective Date to but excluding the date on which such Revolving Commitment terminates; provided, however, that any commitment fee accrued with respect to any of the Revolving Commitments of a Defaulting Lender during
the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such Commitment Fee shall otherwise have
been due and payable by the Borrower prior to such time, and provided, further, that no commitment fee shall accrue on any of the Revolving Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Accrued
commitment fees shall be payable in arrears on the first Business Day following the last day of March, June, September and December of each year and on the date on which the Revolving Commitments terminate, commencing on the first such date to occur
after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing Commitment
Fees, a Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans of such Lender. 
 (b)
The Borrower agrees to pay to the Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Agent in the Agent Fee Letter. 

  
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 (c) The Borrower agrees to pay (i) to the Administrative Agent for the account of each
Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the interest rate applicable to Eurocurrency Revolving Loans on the average daily amount of such
Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Revolving Commitment
terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the Issuing Bank
on the undrawn face amount of its outstanding Letters of Credit during the period from and including the Effective Date to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any
LC Exposure, as well as the Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and
including the last day of March, June, September and December of each year shall be payable on the fifteenth day following such last day, commencing on the first such date to occur after the Effective Date; provided that all such fees shall
be payable on the date on which the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this
paragraph shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but
excluding the last day). If there is any change in the Applicable Margin during any fiscal quarter, the participation fees shall be computed separately for each period during such fiscal quarter that such Applicable Margin was in effect. 

(d) All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Agent (or to the Issuing Bank, in the
case of fees payable to it) for distribution, in the case of Commitment Fees, to the Lenders entitled thereto. Fees paid shall not be refundable under any circumstances. 

SECTION 2.10. Interest. (a) The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable
Margin. 
 (b) The Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in
effect for such Borrowing plus the Applicable Margin. 
 (c) Notwithstanding the foregoing, if principal or interest on any Loan or any Fee
or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to 2% per annum
plus the rate otherwise payable hereunder with respect to the applicable Loans as provided in paragraph (a) or (b) of this Section, as applicable (or, in the case of any such Fees or other amounts, at a rate per annum equal to 2% plus the rate
applicable to ABR Loans as provided in paragraph (a) of this Section), to the extent permitted by Law. 

  
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 (d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date
for such Loan and, in the case of Revolving Loans, upon termination of the Revolving Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable by the Borrower on demand,
(ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date
of such repayment or prepayment and (iii) in the event of any conversion of a Eurocurrency Revolving Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such
conversion. 
 (e) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to
the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate or the NYFRB Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of
days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or Adjusted LIBO Rate shall be determined by the Agent, and such determination shall be conclusive absent manifest error. 

SECTION 2.11. Alternate Rate of Interest. (a) If prior to the commencement of any Interest Period for a Eurocurrency Borrowing:

 (i) the Agent reasonably determines (which determination shall be conclusive absent manifest error) that adequate and
reasonable means do not exist for ascertaining the Adjusted LIBO Rate for such Interest Period (including because the LIBO Screen Rate is not available or published on a current basis); or 

(ii) the Agent is advised by the Required Lenders that the Adjusted LIBO Rate for such Interest Period will not adequately and
fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Eurocurrency Borrowing for such Interest Period; 
 then the
Agent shall give notice (which may be telephonic and confirmed by facsimile or electronic communication) thereof to the Borrower and the Lenders as promptly as practicable. Upon receipt of such notice, the Borrower may revoke any pending request for
a Eurocurrency Borrowing, or conversion to or continuation of any Borrowing as a Eurocurrency Borrowing or, failing that, will be deemed to have converted such request into a request for an ABR Borrowing in the amount specified therein. Until the
Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a
Eurocurrency Borrowing shall be ineffective, and such Borrowing shall be continued as an ABR Borrowing, and (ii) any Borrowing Request for a Eurocurrency Borrowing shall be treated as a request for an ABR Borrowing. 

  
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 (b) If at any time the Agent determines (which determination shall be conclusive absent
manifest error) that (i) the circumstances set forth in clause (a)(i) have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in clause (a)(i) have not arisen but either (w) the
supervisor for the administrator of the LIBO Screen Rate has made a public statement that the administrator of the LIBO Screen Rate is insolvent (and there is no successor administrator that will continue publication of the LIBO Screen Rate), (x)
the administrator of the LIBO Screen Rate has made a public statement identifying a specific date after which the LIBO Screen Rate will permanently or indefinitely cease to be published by it (and there is no successor administrator that will
continue publication of the LIBO Screen Rate), (y) the supervisor for the administrator of the LIBO Screen Rate has made a public statement identifying a specific date after which the LIBO Screen Rate will permanently or indefinitely cease to be
published or (z) the supervisor for the administrator of the LIBO Screen Rate or a Governmental Authority having jurisdiction over the Agent has made a public statement identifying a specific date after which the LIBO Screen Rate may no longer
be used for determining interest rates for loans, then the Agent and the Borrower shall endeavor to establish an alternate rate of interest to the LIBO Rate that gives due consideration to the then prevailing market convention for determining a rate
of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable (but for the
avoidance of doubt, such related changes shall not include a reduction of the Applicable Margin); provided that, if such alternate rate of interest as so determined would be less than zero, such rate shall be deemed to be zero for the
purposes of this Agreement. Notwithstanding anything to the contrary in Section 9.02, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Agent shall not have received,
within five (5) Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a written notice from the Required Lenders stating that such Required Lenders object to such amendment. Until an alternate rate of
interest shall be determined in accordance with this clause (b) (but, in the case of the circumstances described in clause (ii)(w), clause (ii)(x) or clause (ii)(y) of the first sentence of this Section 2.11(b), only to the extent the LIBO
Screen Rate for such Interest Period is not available or published at such time on a current basis), (A) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurocurrency
Borrowing shall be ineffective and (B) if any Borrowing Request requests a Eurocurrency Borrowing, such Borrowing shall be made as an ABR Borrowing. 

SECTION 2.12. Increased Costs. (a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or Issuing Bank; 

  
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 (ii) impose on any Lender or Issuing Bank or the London interbank market any
other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or participation therein; or 

(iii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses
(b) through (d) of the definition of the term “Excluded Taxes” and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments or other obligations, or its deposits, reserves, other liabilities or
capital attributable thereto; 
 and the result of any of the foregoing shall be to increase the cost to such Lender or other Recipient of making,
converting to, continuing or maintaining any Loan or of maintaining its obligation to make any such Loan or to increase the cost to such Lender, such Issuing Bank or such other Recipient of participating in, issuing or maintaining any Letter of
Credit or to reduce the amount of any sum received or receivable by such Lender, such Issuing Bank or other Recipient hereunder (whether of principal, interest or any other amount) then, from time to time upon request of such Lender, such Issuing
Bank or other Recipient, the Borrower will pay to such Lender, such Issuing Bank or other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender, such Issuing Bank or other Recipient, as the case may be, for
such additional costs or expenses incurred or reduction suffered. Notwithstanding the foregoing, a Lender shall be entitled to request compensation for increased costs or expenses described in this Section 2.12(a) only to the extent it is the
general practice or policy of such Lender to request such compensation from other borrowers under comparable facilities under similar circumstances. 

(b) If any Lender or Issuing Bank determines that any Change in Law affecting such Lender or any lending office of such Lender or such
Lender’s holding company, if any, regarding capital or liquidity requirements has had or would have the effect of reducing the rate of return on such Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s or
Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank,
to a level below that which such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or Issuing Bank’s policies and the
policies of such Lender’s or Issuing Bank’s holding company with respect to capital adequacy or liquidity), then, from time to time upon request of such Lender or Issuing Bank, the Borrower will pay to such Lender or Issuing Bank, as the
case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding company for any such reduction suffered. Notwithstanding the foregoing, a Lender shall be entitled to
request compensation for increased costs or expenses described in this Section 2.12(b) only to the extent it is the general practice or policy of such Lender to request such amounts from other borrowers under comparable facilities under similar
circumstances. 

  
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 (c) A certificate of a Lender or Issuing Bank setting forth the amount or amounts necessary
to compensate such Lender or Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay
such Lender or Issuing Bank, as the case may be, the amount shown as due on any such certificate within 30 days after receipt thereof. 

(d) Failure or delay on the part of any Lender or Issuing Bank to demand compensation pursuant to this Section shall not constitute a
waiver of such Lender’s or Issuing Bank’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender or Issuing Bank pursuant to this Section for any increased costs or expenses
incurred or reductions suffered more than 180 days prior to the date that such Lender or Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or expenses or reductions and of such
Lender’s or Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or expenses or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. 

SECTION 2.13. Break Funding Payments. In the event of (a) the payment of any principal of any Eurocurrency Loan other than on the
last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow,
convert or continue any Eurocurrency Loan on the date specified in any notice delivered pursuant hereto, (d) the failure to prepay any Eurocurrency Loan on a date specified therefor in any notice of prepayment given by the Borrower (whether or
not such notice may be revoked in accordance with the terms hereof) or (e) the assignment of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to
Section 2.16, then, in any such event, the Borrower shall, upon written demand from any Lender, compensate such Lender for the loss, cost and expense attributable to such event. Such loss, cost or expense to any Lender shall be deemed to
include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest that would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been
applicable to such Loan (but not including the Applicable Margin applicable thereto), for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or
continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest that would accrue on such principal amount for such period at the interest rate such Lender would bid if it were to bid, at the
commencement of such period, for dollar deposits of a comparable amount and period from other banks in the London interbank market. A certificate of any Lender delivered to the Borrower and setting forth any amount or amounts that such Lender is
entitled to receive pursuant to this Section (including supporting calculations in reasonable detail) shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days
after receipt thereof. 

  
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 SECTION 2.14. Taxes. (a) Payments Free of Taxes. Any and all payments by
or on account of any obligation of any Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable Law. If any applicable Law (as determined in the good faith discretion of an
applicable withholding agent) requires the deduction or withholding of any Tax from any such payment by a withholding agent, then the applicable withholding agent shall be entitled to make such deduction or withholding and shall timely pay the full
amount deducted or withheld to the relevant Governmental Authority in accordance with applicable Law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such
deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 2.14) the applicable Recipient receives an amount equal to the sum it would have received had no such
deduction or withholding been made. 
 (b) Payment of Other Taxes by the Loan Parties. The Loan Parties shall timely pay to the
relevant Governmental Authority in accordance with applicable Law, or at the option of the Agent timely reimburse it for the payment of, any Other Taxes. 

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

(e) Indemnification by the Lenders. Each Lender shall severally indemnify the Agent, within 10 days after demand therefor, for
(i) any Indemnified Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to do so), (ii) any Taxes
attributable to such Lender’s failure to comply with the provisions of Section 9.04(c) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or
paid by the Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A
certificate as to the amount of such payment or liability delivered to any Lender by the Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Agent to set off and apply any and all amounts at any time owing to such
Lender under any Loan Document or otherwise payable by the Agent to the Lender from any other source against any amount due to the Agent under this paragraph (e). 

  
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 (f) Status of Lenders. (i) Any Lender that is entitled to an exemption from or
reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower and the Agent, at the time or times reasonably requested by the Borrower or the Agent, such properly completed and executed
documentation reasonably requested by the Borrower or the Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Agent, shall
deliver such other documentation prescribed by applicable Law or reasonably requested by the Borrower or the Agent as will enable the Borrower or the Agent to determine whether or not such Lender is subject to backup withholding or information
reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 2.14(f)(ii)(A), (ii)(B) and
(ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial
position of such Lender. 
 (ii) Without limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person: 

(A) any Lender that is a U.S. Person shall deliver to the Borrower and the Agent on or prior to the date on which such Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. Federal
backup withholding Tax; 
 (B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Agent
(in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent),
whichever of the following is applicable: 
 (i) in the case of a Foreign Lender claiming the benefits of an income tax
treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other
applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from,
or reduction of, U.S. Federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 

  
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 (ii) executed originals of IRS Form
W-8ECI; 
 (iii) in the case of a Foreign Lender claiming the benefits of the
exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit D-1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in
Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable; or 
 (iv) to the extent a Foreign Lender is not the
beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, or IRS Form W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-2 or Exhibit D-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or
more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit
D-4 on behalf of each such direct and indirect partner; 
 (C) any Foreign Lender shall, to the
extent it is legally entitled to do so, deliver to the Borrower and the Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time
to time thereafter upon the reasonable request of the Borrower or the Agent), executed originals of any other form prescribed by applicable Law as a basis for claiming exemption from or a reduction in U.S. Federal withholding Tax, duly completed,
together with such supplementary documentation as may be prescribed by applicable Law to permit the Borrower or the Agent to determine the withholding or deduction required to be made; and 

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

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

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

 (i) Defined Terms. For purposes of this Section, the term “Lender” includes any Issuing Bank and the term
“applicable Law” includes FATCA. 
 SECTION 2.15. Payments Generally; Pro Rata Treatment; Sharing of Setoffs. (a)The
Borrower shall make each payment required to be made by it hereunder or under any other Loan Document at or prior to the time expressly required hereunder or under such other Loan Document for such payment (or, if no such time is expressly required,
prior to 2:00 p.m., New York City time), on the date when due, in immediately available funds, without any defense, setoff, recoupment or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed
to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to such account as may be specified by the Agent, except payments to be made directly to Issuing Banks as
expressly provided 

  
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herein and except that payments pursuant to Sections 2.12, 2.13, 2.14 and 9.03 shall be made directly to the Persons entitled thereto and payments pursuant to other Loan Documents shall be
made to the Persons specified therein. The Agent shall distribute any such payment received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment under any Loan Document shall be
due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments
under each Loan Document shall be made in U.S. Dollars. 
 (b) If at any time insufficient funds are received by and available to the Agent
to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and Fees then due hereunder, such funds shall be applied (i) first, towards payment of the amounts then due hereunder (other than principal and unreimbursed LC
Disbursements) ratably among the parties entitled thereto, in accordance with the amounts then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder ratably among the parties
entitled thereto, in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties. 
 (c) If any
Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans or participations in LC Disbursements resulting in such Lender receiving payment of a greater
proportion of the aggregate amount of its Loans and participations in LC Disbursements and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall notify the Agent of such
fact and shall purchase (for cash at face value) participations in the Loans and participations in LC Disbursements of other Lenders to the extent necessary so that the amount of all such payments shall be shared by the Lenders ratably in accordance
with the aggregate amounts of principal of and accrued interest on their Loans and participations in LC Disbursements; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto
is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower
pursuant to and in accordance with the express terms of this Agreement (for the avoidance of doubt, as in effect from time to time) or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its
Loans or participations in LC Disbursements to any Person that is an Eligible Assignee (as such term is defined from time to time). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable Law, that
any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in
the amount of such participation. 

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

(e) If any Lender shall fail to make any payment required to be made by it hereunder to or for the account of the Agent, then the Agent may, in
its discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter received by the Agent for the account of such Lender to satisfy such Lender’s obligations in respect of such payment until all such unsatisfied
obligations have been discharged or (ii) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender pursuant to Sections 2.04(b), 2.14(e), 2.15(d) and 9.03(c), in each
case in such order as shall be determined by the Agent in its discretion. 
 SECTION 2.16. Mitigation Obligations; Replacement of
Lenders. (a)If any Lender requests compensation under Section 2.12, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or to any Governmental Authority for the account of any Lender pursuant
to Section 2.14, then such Lender shall use commercially reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign and delegate its rights and obligations hereunder to another of its
offices, branches or Affiliates if, in the reasonable judgment of such Lender, such designation or assignment and delegation (i) would eliminate or reduce amounts payable pursuant to Section 2.12 or 2.14, as the case may be, in the future
and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with
any such designation or assignment and delegation. 
 (b) If (i) any Lender requests compensation under Section 2.12, (ii) the
Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14, (iii) any Lender has become a Defaulting Lender or (iv) any Lender
has failed to consent to a proposed amendment, waiver, discharge or termination that under Section 9.02 requires the consent of all the Lenders (or all the affected Lenders) and with respect to which the Required Lenders shall have granted
their consent, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in
Section 9.04), all its interests, rights (other than its existing rights to payments pursuant to Section 2.12 or 2.14) and obligations under this Agreement and the other Loan Documents to an Eligible Assignee that shall assume such
obligations 

  
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(which may be another Lender, if a Lender accepts such assignment and delegation); provided that (A) the Borrower shall have received the prior written consent of the Agent (and if a
Revolving Commitment is being assigned, the Issuing Banks), which consent shall not unreasonably be withheld, (B) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in LC
Disbursements and accrued interest thereon, accrued fees and all other amounts payable to it hereunder (if applicable, in each case only to the extent such amounts relate to its interest as a Lender) from the assignee (in the case of such principal
and accrued interest and fees) or the Borrower (in the case of all other amounts), (C) in the case of any such assignment and delegation resulting from a claim for compensation under Section 2.12 or payments required to be made pursuant to
Section 2.14, such assignment will result in a reduction in such compensation or payments, (D) such assignment does not conflict with applicable Law and (E) in the case of any such assignment and delegation resulting from the failure
to provide a consent, the assignee shall have given such consent and, as a result of such assignment and delegation and any contemporaneous assignments and delegations and consents, the applicable amendment, waiver, discharge or termination can be
effected. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver or consent by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation
have ceased to apply. Each party hereto agrees that an assignment and delegation required pursuant to this paragraph may be effected pursuant to an Assignment and Assumption executed by the Borrower, the Agent and the assignee and that the Lender
required to make such assignment and delegation need not be a party thereto. 
 SECTION 2.17. Defaulting Lenders. Notwithstanding any
provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender: 

(a) Commitment Fees shall cease to accrue on the unused amount of the Revolving Commitment of such Defaulting Lender as provided in
Section 2.09(a); 
 (b) the Commitment and Exposure of such Defaulting Lender shall not be included in determining whether the Required
Lenders or any other requisite Lenders have taken or may take any action hereunder or under any other Loan Document (including any consent to any amendment, waiver or other modification pursuant to Section 9.02); provided that any
amendment, waiver or other modification requiring the consent of all Lenders or all Lenders affected thereby shall, except as otherwise provided in Section 9.02, require the consent of such Defaulting Lender in accordance with the terms hereof;

 (c) if any LC Exposure exists at the time a Revolving Lender becomes a Defaulting Lender then: 

(i) all or any part of the LC Exposure of such Defaulting Lender shall be reallocated among the
non-Defaulting Lenders in accordance with their respective Applicable Percentages but only to the extent that such reallocation does not, as to any non-Defaulting
Lender, cause such non-Defaulting Lender’s Revolving Exposure to exceed its Revolving Commitment; 

  
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 (ii) if the reallocation described in clause (i) above cannot, or can
only partially, be effected, the Borrower shall within one Business Day following notice by the Administrative Agent cash collateralize for the benefit of the Issuing Banks only the Borrower’s obligations corresponding to such Defaulting
Lender’s LC Exposure in accordance with the procedures set forth in Section 2.19(j) for so long as such LC Exposure is outstanding; 

(iii) if the Borrower cash collateralizes any portion of such Defaulting Lender’s LC Exposure pursuant to clause
(ii) above, the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.09(c) with respect to such Defaulting Lender’s LC Exposure during the period such Defaulting Lender’s LC Exposure is
cash collateralized; 
 (iv) if the LC Exposure of the non-Defaulting Lenders is
reallocated pursuant to clause (i) above, then the fees payable to the Lenders pursuant to Section 2.09(a) and Section 2.09(c) shall be adjusted in accordance with such non-Defaulting
Lenders’ Applicable Percentages; and 
 (v) if all or any portion of such Defaulting Lender’s LC Exposure is
neither reallocated nor cash collateralized pursuant to clause (i) or (ii) above, then, without prejudice to any rights or remedies of any Issuing Bank or any other Lender hereunder, all letter of credit fees payable under Section 2.09(c)
with respect to such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until and to the extent that such LC Exposure is reallocated and/or cash collateralized; and 

(d) so long as a Revolving Lender is a Defaulting Lender, no Issuing Bank shall be required to issue, amend or increase any Letter of Credit,
unless it is satisfied that the related exposure and the Defaulting Lender’s then outstanding LC Exposure will be 100% covered by the Commitments of the non-Defaulting Lenders and/or cash collateral will
be provided by the Borrower in accordance with Section 2.17(c), and LC Exposure related to any newly issued or increased Letter of Credit shall be allocated among non-Defaulting Lenders in a manner
consistent with Section 2.17(c)(i) (and such Defaulting Lender shall not participate therein). 
 If (i) a Bankruptcy Event or a Bail-In Action with respect to a Revolving Lender shall occur following the date hereof and for so long as such event shall continue or (ii) any Issuing Bank has a good faith belief that any Revolving Lender
has defaulted in fulfilling its obligations under one or more other agreements in which such Revolving Lender commits to extend credit, no Issuing Bank shall be required to issue, amend or increase any Letter of Credit, unless such Issuing Bank
shall have entered into arrangements with the Borrower or such Revolving Lender, satisfactory to such Issuing Bank to defease any risk to it in respect of such Lender hereunder. 

  
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 In the event that each of the Administrative Agent, the Borrower and each Issuing Bank
agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the LC Exposure of the Revolving Lenders shall be readjusted to reflect the inclusion of such Lender’s Commitment and on
such date such Lender shall purchase at par such of the Loans of the other Lenders as the Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Applicable Percentage. 

SECTION 2.18. Incremental Facilities. (a) The Borrower may on one or more occasions, by written notice to the Agent, request the
establishment, during the Availability Period, of Incremental Commitments; provided that the aggregate amount of all the Incremental Commitments established hereunder shall not exceed $25,000,000 during the term of this Agreement. Each such
notice shall specify (A) the date on which the Borrower proposes that the Incremental Commitments shall be effective, which shall be a date not less than five (5) Business Days (or such shorter period as may be agreed to by the Agent)
after the date on which such notice is delivered to the Agent, and (B) the amount of the Incremental Commitments being requested (it being agreed that (x) any Lender approached to provide any Incremental Commitment may elect or decline, in
its sole discretion, to provide such Incremental Commitment and (y) any Person that the Borrower proposes to become an Incremental Lender, if such Person is not then a Lender, must be an Eligible Assignee and must be approved by the Agent,
which approval shall not be unreasonably withheld or delayed). 
 (b) The terms and conditions of any Incremental Commitment and the
Revolving Loans and other extensions of credit to be made thereunder shall be identical to those of the Revolving Commitments and the Revolving Loans and other extensions of credit made thereunder; provided that, if the Borrower determines to
increase the interest rate or fees payable in respect of Incremental Commitments or Revolving Loans and other extensions of credit made thereunder, such increase shall be permitted if the interest rate or fees payable in respect of the other
Revolving Commitments or Revolving Loans and other extensions of credit made thereunder, as applicable, shall be increased to equal such interest rate or fees payable in respect of such Incremental Commitments or Revolving Loans and other extensions
of credit made thereunder, as the case may be. 
 (c) The Incremental Commitments shall be effected pursuant to one or more Incremental
Facility Agreements executed and delivered by the Borrower, each Incremental Lender providing such Incremental Commitments and the Agent; provided that no Incremental Commitments shall become effective unless (i) on the date of
effectiveness thereof, both immediately prior to and immediately after giving effect to such Incremental Commitments (including after giving effect to the making of Loans thereunder to be made on such date), no Default or Event of Default shall have
occurred and be continuing, (ii) on the date of effectiveness thereof and after giving effect to the making of Revolving Loans thereunder to be made on such date, the representations and warranties of the Borrower set forth in the Loan
Documents shall be true and correct (A) in the case of the representations and warranties qualified as to materiality, in all respects and (B) otherwise, in all material respects, in each case on and as of such date, except in the case of
any such representation and warranty that expressly relates to a prior date, in 

  
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which case such representation and warranty shall be so true and correct on and as of such prior date, (iii) [reserved], (iv) the Borrower shall make any payments required to be made
pursuant to Section 2.13 in connection with such Incremental Commitments and the related transactions under this Section, and (v) the Borrower shall have delivered to the Agent such legal opinions, board resolutions, secretary’s
certificates, officer’s certificates and other documents as shall reasonably be requested by the Agent in connection with any such transaction. Each Incremental Facility Agreement may, without the consent of any Lender, effect such amendments
to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Agent, to give effect to the provisions of this Section. 

(d) Upon the effectiveness of an Incremental Commitment of any Incremental Lender, (i) such Incremental Lender shall be deemed to be a
“Revolving Lender” and a “Lender” hereunder, and henceforth shall be entitled to all the rights of, and benefits accruing to, Revolving Lenders and Lenders hereunder and shall be bound by all agreements, acknowledgements and
other obligations of Revolving Lenders and Lenders hereunder and under the other Loan Documents, and (ii) (A) such Incremental Commitment shall constitute (or, in the event such Incremental Lender already has a Commitment, shall increase) the
Revolving Commitment of such Incremental Lender and (B) the Aggregate Revolving Commitment shall be increased by the amount of such Incremental Commitment, in each case, subject to further increase or reduction from time to time as set forth in
the definition of the term “Revolving Commitment”. For the avoidance of doubt, upon the effectiveness of any Incremental Commitment, the Revolving Exposures and the Applicable Percentages of all the Revolving Lenders shall automatically be
adjusted to give effect thereto. 
 (e) On the date of effectiveness of any Incremental Commitments, (i) the aggregate principal amount
of the Revolving Loans outstanding (the “Existing Revolving Borrowings”) immediately prior to the effectiveness of such Incremental Commitments shall be deemed to be repaid, (ii) each Incremental Lender that shall have had a
Revolving Commitment prior to the effectiveness of such Incremental Commitments shall pay to the Agent in same day funds an amount equal to the difference between (A) the product of (1) such Lender’s Applicable Percentage of the
Revolving Loans (calculated after giving effect to the effectiveness of such Incremental Commitments) multiplied by (2) the aggregate amount of the Resulting Revolving Borrowings (as hereinafter defined) and (B) the product of
(1) such Lender’s Applicable Percentage of the Revolving Loans (calculated without giving effect to the effectiveness of such Incremental Commitments) multiplied by (2) the aggregate amount of the Existing Revolving Borrowings,
(iii) each Incremental Lender that shall not have had a Revolving Commitment prior to the effectiveness of such Incremental Commitments shall pay to Agent in same day funds an amount equal to the product of (1) such Lender’s
Applicable Percentage of the Revolving Loans (calculated after giving effect to the effectiveness of such Incremental Commitments) multiplied by (2) the aggregate amount of the Resulting Revolving Borrowings, (iv) after the Agent receives
the funds specified in clauses (ii) and (iii) above, the Agent shall pay to each Revolving Lender the portion of such funds that is equal to the difference between (A) the product of (1) such Revolving Lender’s Applicable
Percentage of the Revolving Loans (calculated without 

  
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giving effect to the effectiveness of such Incremental Commitments) multiplied by (2) the aggregate amount of the Existing Revolving Borrowings, and (B) the product of (1) such
Lender’s Applicable Percentage of the Revolving Loans (calculated after giving effect to the effectiveness of such Incremental Commitments) multiplied by (2) the aggregate amount of the Resulting Revolving Borrowings, (v) after the
effectiveness of such Incremental Commitments, the Borrower shall be deemed to have received new Revolving Borrowings (the “Resulting Revolving Borrowings”) in an aggregate amount equal to the aggregate amount of the Existing
Revolving Borrowings and of the Types and for the Interest Periods specified in a Borrowing Request delivered to the Agent in accordance with Section 2.03 (and the Borrower shall deliver such Borrowing Request), (vi) each Lender shall be
deemed to hold its Applicable Percentage of each Resulting Revolving Borrowing (calculated after giving effect to the effectiveness of such Incremental Commitments), and (vii) the Borrower shall pay each Revolving Lender any and all accrued but
unpaid interest on its Revolving Loans comprising the Existing Revolving Borrowings. The deemed payments of the Existing Revolving Borrowings made pursuant to clause (i) above shall be subject to compensation by the Borrower pursuant to the
provisions of Section 2.13, as applicable, if the date of the effectiveness of such Incremental Commitments occurs other than on the last day of the Interest Period relating thereto. 

(f) The Agent shall notify the Lenders promptly upon receipt by the Agent of any notice from the Borrower referred to in Section 2.18(a)
and of the effectiveness of any Incremental Commitments, in each case advising the Lenders of the details thereof and of the Applicable Percentages of the Lenders after giving effect thereto and of the assignments required to be made pursuant to
Section 2.18(e). 
 SECTION 2.19. Letters of Credit. 

(a) General. Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Letters of Credit as the
applicant thereof for the support of its or its Subsidiaries’ obligations, in a form reasonably acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time during the Availability Period. In the event of any
inconsistency between the terms and conditions of this Agreement and the terms and conditions of any Letter of Credit Agreement, the terms and conditions of this Agreement shall control. Notwithstanding anything herein to the contrary, the Issuing
Bank shall have no obligation hereunder to issue, and shall not issue, any Letter of Credit the proceeds of which would be made available to any Person (i) to fund any activity or business of or with any Sanctioned Person, or in any country or
territory that, at the time of such funding, is the subject of any Sanctions, (ii) in any manner that would result in a violation of any Sanctions by any party to this Agreement or (iii) in any manner that would result in a violation of
one or more policies of such Issuing Bank applicable to letters of credit generally. 
 (b) Notice of Issuance, Amendment, Renewal,
Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if
arrangements for doing so have been 

  
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approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less
than three Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business
Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be
necessary to prepare, amend, renew or extend such Letter of Credit. In addition, as a condition to any such Letter of Credit issuance, the Borrower shall have entered into a continuing agreement (or other letter of credit agreement) for the issuance
of letters of credit and/or shall submit a letter of credit application, in each case, as required by the Issuing Bank and using such Issuing Bank’s standard form (each, a “Letter of Credit Agreement”). A Letter of Credit shall
be issued, amended, renewed or extended only if, after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the Issuing Bank Sublimit, (ii) no Revolving Lender’s Revolving Exposure
shall exceed its Revolving Commitment and (iii) the Aggregate Revolving Exposure shall not exceed the total Revolving Commitments. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to
obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. If the Borrower so requests in any applicable
letter of credit application, the relevant Issuing Bank may, in its discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided, that
any such Auto-Extension Letter of Credit must permit the relevant Issuing Bank to prevent any such extension at least once in each twelve (12) month period (commencing with the date of issuance of such Letter of Credit) by giving prior
written notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve (12) month period to be agreed upon at the time such Letter of Credit
is issued. Once an Auto-Extension Letter of Credit has been issued, unless otherwise directed by the relevant Issuing Bank, the Borrower shall not be required to make a specific request to the relevant Issuing Bank for any such extension. Once an
Auto-Extension Letter of Credit has been issued, the Revolving Lenders shall be deemed to have authorized (but may not require) the relevant Issuing Bank to permit the extension of such Letter of Credit at any time to an expiry date not later than
five (5) Business Days prior to the Maturity Date (such date, the “Letter of Credit Expiration Date”), unless each Revolving Lender (in its sole discretion) has approved a later expiry date; provided, that
the relevant Issuing Bank shall not permit any such extension if (A) such Issuing Bank has determined that it would have no obligation at such time to issue such Letter of Credit in its extended form under the terms hereof (by reason of the
provisions of clause (a) or (b) of this Section 2.19 or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is five (5) Business Days before the Non-Extension Notice Date from the Administrative Agent, any Revolving Lender or the Borrower that one or more of the applicable conditions specified in Section 3.02 is not then satisfied; provided,
further, that the relevant Issuing Bank may permit any such extension to an expiry date later than the Letter of Credit 

  
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Expiration Date if the LC Exposure in respect of such Letter of Credit has been cash collateralized or back-stopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank
(it being understood and agreed that, in such case, the obligations of the Revolving Lenders to reimburse any drawing under such Letter of Credit pursuant to the terms hereof following the Letter of Credit Expiration Date shall terminate as of the
Letter of Credit Expiration Date, unless all of the Revolving Lenders (in their sole discretion) have approved such later expiry date). 

(c) Expiration Date. Each Letter of Credit shall expire (or be subject to termination by notice from the Issuing Bank to the beneficiary
thereof) at or prior to the close of business on the earlier of (i) the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension), or
such later date as may be agreed by the Issuing Bank in its sole discretion, and (ii) the Letter of Credit Expiration Date (provided, that the expiry date of such Letter of Credit may occur after the Letter of Credit Expiration Date if
(A) each Revolving Lender (in its sole discretion) has approved such later expiration date or (B) the LC Exposure in respect of such Letter of Credit has been cash collateralized or back-stopped by a letter of credit reasonably
satisfactory to the applicable Issuing Bank). 
 (d) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the Issuing Bank or the Revolving Lenders, the Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from the
Issuing Bank, a participation in such Letter of Credit equal to such Revolving Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each
Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Revolving Lender’s Applicable Percentage of each LC Disbursement made by the Issuing Bank and not
reimbursed by the Borrower on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason. Each Revolving Lender acknowledges and agrees that its obligation
to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit
or the occurrence and continuance of a Default or reduction or termination of the Revolving Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 

(e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower shall reimburse
such LC Disbursement by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, New York City time, on the date that such LC Disbursement is made, if the Borrower shall have received notice of such
LC Disbursement prior to 10:00 a.m., New York City time, on such date, or, if such notice has not been received by the Borrower prior to such time on such date, then not later than 12:00 noon, New York City time, on the Business Day
immediately following the day that the Borrower receives such notice; provided that the Borrower may, subject to the 

  
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conditions to borrowing set forth herein, request in accordance with Section 2.03 that such payment be financed with an ABR Revolving Borrowing in an equivalent amount and, to the
extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR Revolving Borrowing. If the Borrower fails to make such payment when due, the Administrative Agent shall notify each
Revolving Lender of the applicable LC Disbursement, the payment then due from the Borrower in respect thereof and such Revolving Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Revolving Lender shall pay
to the Administrative Agent its Applicable Percentage of the payment then due from the Borrower, in the same manner as provided in Section 2.04 with respect to Loans made by such Revolving Lender (and Section 2.04 shall apply, mutatis
mutandis, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so received by it from the Revolving Lenders. Promptly following receipt by the Administrative Agent
of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Lenders have made payments pursuant to this paragraph to reimburse the
Issuing Bank, then to such Revolving Lenders and the Issuing Bank as their interests may appear. Any payment made by a Revolving Lender pursuant to this paragraph to reimburse the Issuing Bank for any LC Disbursement (other than the funding of
ABR Revolving Loans as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement. 

(f) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (e) of this
Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or
enforceability of any Letter of Credit, any Letter of Credit Agreement or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any
respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of
Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against,
the Borrower’s obligations hereunder. Neither the Administrative Agent, the Revolving Lenders nor any Issuing Bank, nor any of their respective Related Parties, shall have any liability or responsibility by reason of or in connection with the
issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in
transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising
from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to (A) preclude the Borrower from pursuing such rights and remedies as it may have against the beneficiary of any Letter of Credit or
its transferee at law or under any other 

  
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agreement or (B) excuse the Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to special, indirect, consequential or punitive damages, claims in
respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by (I) the Issuing Bank’s failure to exercise care when determining whether drafts and other documents
presented under a Letter of Credit comply with the terms thereof or (II) the Issuing Bank’s willful misconduct or gross negligence or such Issuing Bank’s willful or grossly negligent failure to pay under any Letter of Credit after the
presentation to it by the beneficiary of all documents specified in such Letter of Credit strictly complying with the terms and conditions of such Letter of Credit, in each case of this clause (II), as finally determined by a court of competent
jurisdiction. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), such Issuing Bank shall be deemed to have
exercised care in each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the
terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to
accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 
 (g)
Disbursement Procedures. The Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative
Agent and the Borrower by telephone (confirmed by telecopy or electronic mail) of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving
such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Revolving Lenders with respect to any such LC Disbursement. 

(h) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement
in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the reimbursement is due and payable at the rate
per annum then applicable to ABR Revolving Loans and such interest shall be due and payable on the date when such reimbursement is payable; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant
to paragraph (e) of this Section, then Section 2.10(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender
pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment. 

  
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 (i) Replacement, Resignation and Addition of an Issuing Bank. 

(i) An Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced
Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an Issuing Bank. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees
accrued for the account of the replaced Issuing Bank pursuant to Section 2.09(c). From and after the effective date of any such replacement, (x) the successor Issuing Bank shall have all the rights and obligations of Issuing Banks under
this Agreement with respect to Letters of Credit to be issued thereafter and (y) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Banks, or to such successor and all
previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this
Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. 

(ii) Subject to the appointment and acceptance of a successor Issuing Bank, any Issuing Bank may resign as an Issuing Bank at
any time upon thirty days’ prior written notice to the Administrative Agent, the Borrower and the Revolving Lenders, in which case, such resigning Issuing Bank shall be replaced in accordance with Section 2.19(i) above. 

(iii) A Revolving Lender may become an additional Issuing Bank hereunder pursuant to a written agreement among the Borrower,
the Administrative Agent and such Revolving Lender and such agreement shall specify such additional Issuing Bank’s LC Commitment. The Administrative Agent shall notify the Revolving Lenders of any such additional Issuing Bank. 

(j) Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives notice
from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Revolving Lenders with LC Exposure representing greater than 50% of the total LC Exposure) demanding the deposit of cash collateral
pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Revolving Lenders, an amount in cash equal to the LC Exposure as of such date plus
any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind,
upon the occurrence of any Event of Default with respect to the Borrower described in Section 7.01(h) or (i). Such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the
Borrower under this Agreement. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments
shall be made at the option and sole discretion of the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or 

  
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profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for
which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but
subject to the consent of Revolving Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other Obligations. If the Borrower is required to provide an amount of cash collateral hereunder as a result
of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three Business Days after all Events of Default have been cured or waived. 

(k) Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder
supports any obligations of, or is for the account of, a Subsidiary, or states that a Subsidiary is the “account party,” “applicant,” “customer,” “instructing party,” or the like of or for such Letter of
Credit, and without derogating from any rights of the applicable Issuing Bank (whether arising by contract, at law, in equity or otherwise) against such Subsidiary in respect of such Letter of Credit, the Borrower (i) shall reimburse, indemnify
and compensate the applicable Issuing Bank hereunder for such Letter of Credit (including to reimburse any and all drawings thereunder) as if such Letter of Credit had been issued solely for the account of the Borrower and (ii) irrevocably
waives any and all defenses that might otherwise be available to it as a guarantor or surety of any or all of the obligations of such Subsidiary in respect of such Letter of Credit. The Borrower hereby acknowledges that the issuance of such
Letters of Credit for its Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. 

ARTICLE III 
 Conditions

 SECTION 3.01. Effective Date. Subject to Section 5.14, the obligations of the Lenders to make Loans and of the Issuing
Banks to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions shall have been satisfied (or waived in accordance with Section 9.02): 

(a) the Agent shall have received (i) a fully executed original copy of (A) this Agreement and (B) the Security Agreement and
(ii) Financing Statements for all locations where a UCC filing is required or advisable (as determined by the Collateral Agent and its legal counsel in their reasonable discretion) in order to perfect the security interest of the Collateral
Agent in all of the Collateral granted to the Collateral Agent by the Loan Parties; 

  
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 (b) except as otherwise expressly provided in this Agreement or the Security Agreement, the
Agent shall have received satisfactory evidence that the Collateral Agent has a perfected, first priority lien or security interest in all of the Collateral granted to the Collateral Agent by the Loan Parties and that such Collateral is not
encumbered by any other Lien other than Liens permitted hereunder or under the terms of the Security Agreement; 
 (c) the Agent shall have
received (i) authorizing resolutions, approving and adopting the Loan Documents set forth in clause (a) above and authorizing the execution and delivery thereof from each Loan Party, (ii) the articles of incorporation, limited
liability company agreement or other constitutive documents of each Loan Party, (iii) a certificate of good standing for each Loan Party from its state of incorporation or formation and each other jurisdiction where the failure of such Loan
Party to be qualified and/or in good standing would reasonably be expected to have a Material Adverse Effect and (iv) certificates of each Loan Party certifying (A) that the documents provided pursuant to clauses (i) and (ii) above
are true, correct and complete copies thereof and in full force and effect on the Effective Date and (B) the names and signature specimens of authorized signers of the Loan Documents; 

(d) the Agent shall have received a legal opinion for each Loan Party, in form and substance reasonably satisfactory to the Agent, from Hughes
Hubbard & Reed LLP, counsel to the Borrower (and the Borrower hereby requests and directs the foregoing to deliver such opinion); 

(e) the Agent shall have received a customary certificate from a Financial Officer of the Borrower or Intermediate Holdings certifying as to
the solvency of Intermediate Holdings, the Borrower and its Subsidiaries on a consolidated basis, in form and substance satisfactory to the Agent; 

(f) no Default or Event of Default shall have occurred and be continuing; 

(g) the representations and warranties of the Loan Parties set forth in the Loan Documents shall be true and correct (i) in the case of
the representations and warranties qualified as to materiality, in all respects and (ii) otherwise, in all material respects, in each case on and as of the Effective Date, except in the case of any such representation and warranty that
expressly relates to a prior date, in which case such representation and warranty shall be so true and correct on and as of such prior date; 

(h) there shall be no Indebtedness of the Borrower or its Subsidiaries, other than any Indebtedness that shall be permitted pursuant to
Section 6.01; 
 (i) Intermediate Holdings shall have received, in the form of a common equity contribution from Sub-Holdings, directly or indirectly, an aggregate amount of net cash proceeds from the incurrence by Sub-Holdings of subordinated Indebtedness provided by an MSG Company in
an aggregate principal amount not less than $49,000,000 (upon terms and conditions, and subject to documentation, reasonably satisfactory to the Agent); 

  
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 (j) the Agent shall have received a certificate from the Borrower confirming compliance on
the Effective Date with the conditions set forth in paragraphs (f), (g), (h) and (i) above; 
 (k) the Agent shall have received a
completed perfection certificate, dated the Effective Date and signed by a Financial Officer of each of Intermediate Holdings and the Borrower, together with all attachments contemplated thereby, including the results of a search of the UCC (or
equivalent) filings made with respect to the Loan Parties in the jurisdictions contemplated by such perfection certificate and copies of the financing statements (or similar documents) disclosed by such search and evidence reasonably satisfactory to
the Agent that the Liens indicated by such financing statements (or similar documents) are permitted under Section 6.02 or have been, or substantially contemporaneously with the initial funding of Loans on the Effective Date will be, released;

 (l) the Agent shall have received evidence that the insurance required by Section 5.05 is in effect, together with endorsements
naming the Agent, for the benefit of the Secured Parties, as additional insured and lender’s loss payee thereunder; 
 (m) prior to or
substantially contemporaneously with the initial funding of Loans on the Effective Date, all principal, premium, if any, interest, fees and other amounts due or outstanding under the Existing Credit Agreement shall have been or shall be paid in
full, the commitments thereunder shall have been or shall be terminated and all guarantees and Liens existing in connection therewith shall have been or shall be discharged and released, and the Agent shall have received reasonably satisfactory
evidence thereof; 
 (n) the Agent shall have received the audited financial statements and the unaudited quarterly financial statements of
Intermediate Holdings referred to in Section 4.04(a); 
 (o) the Borrower shall have paid all Fees and, to the extent invoiced, all
costs, expenses, and reimbursable amounts, required to be paid or reimbursed by it pursuant to this Agreement or the other Loan Documents, including the reasonable and documented fees, disbursements and other charges of external counsel for the
Agent required to be paid or reimbursed by the Borrower pursuant to this Agreement or the other Loan Documents, on or prior to the Effective Date; 

(p) (i) the Agent shall have received, at least five days prior to the Effective Date, all documentation and other information regarding the
Borrower requested in connection with applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act, to the extent requested in writing of the Borrower and (ii) to the extent the Borrower
qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, at least five days prior to the Effective Date, any Lender that has requested, in a written notice to the Borrower, a Beneficial Ownership Certification in
relation to the Borrower shall have received such Beneficial Ownership Certification (provided that, upon the execution and delivery by such Lender of its signature page to this Agreement, the condition set forth in this clause (ii) shall be
deemed to be satisfied); and 

  
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 (q) the Agent shall have received from the Borrower true and complete copies of each Venue
Lease and Venue Management Contract in respect of any Existing Venue. 
 SECTION 3.02. Each Credit Event. The obligation of each
Lender to make a Loan on the occasion of any Borrowing (other than any conversion or continuation of any Loan), and of each Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to receipt of the request therefor in
accordance herewith and to the satisfaction of the following conditions: 
 (a) The representations and warranties of the
Loan Parties set forth in the Loan Documents shall be true and correct (i) in the case of the representations and warranties qualified as to materiality, in all respects and (ii) otherwise, in all material respects, in each case on and as
of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, except in the case of any such representation and warranty that expressly relates to a prior date, in which case such
representation and warranty shall be so true and correct on and as of such prior date. 
 (b) At the time of and immediately
after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no Default shall have occurred and be continuing. 

On the date of any Borrowing (other than any conversion or continuation of any Loan) and each issuance, amendment, renewal or extension of a Letter of Credit,
the Borrower shall be deemed to have represented and warranted that the conditions specified in paragraphs (a) and (b) of this Section have been satisfied and that, after giving effect to such Borrowing, the Aggregate Exposure (or any
component thereof) shall not exceed the Aggregate Commitments. 
 ARTICLE IV 

Representations and Warranties 

Intermediate Holdings and the Borrower hereby represent and warrant to the Lenders that: 

SECTION 4.01. Organization; Powers. Each Loan Party is duly organized or formed, validly existing and in good standing under the laws
of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure to do so would not reasonably be expected to result in a Material Adverse Effect, is qualified to
do business in, and is in good standing in, every jurisdiction where such qualification is required. 

  
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 SECTION 4.02. Authorization; Enforceability. The Transactions are within Intermediate
Holdings and the Borrower’s corporate or other organizational powers and have been duly authorized by all necessary corporate or other organizational and, if required, stockholder action. This Agreement has been duly executed and delivered by
Intermediate Holdings and the Borrower and constitutes a legal, valid and binding obligation of each of Intermediate Holdings and the Borrower, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

SECTION 4.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration
or filing with, or any other action by, any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect, (ii) filings and recordings with respect to the Collateral to be made, or otherwise
delivered to Collateral Agent for filing and/or recordation, as of the Effective Date, and (iii) those approvals, registrations, filings or other actions (A) that are set forth in Schedule 4.03(a) or (B) the
absence of which would not (I) reasonably be expected to impair or delay in any material respect any Loan Party’s ability to perform its obligations under the Loan Documents to which it is a party or to consummate the transactions
contemplated by such Loan Documents or (II) be material to the business, financial condition or operating results of the Loan Parties and their respective Subsidiaries, taken as a whole, (b) will not violate (i) any applicable Law,
(ii) the charter, by-laws or other organizational documents of any Loan Party or (iii) any order of any Governmental Authority binding on any Loan Party, (c) will not violate or result in a
default under any indenture, agreement or other instrument binding upon any Loan Party, and (d) will not result in the creation or imposition of, or the requirement to create, any Lien on any asset of any Loan Party (other than pursuant to the
Loan Documents), except, with respect to any violation or default referred to in clauses (b)(i), (b)(iii), or (c) above, to the extent that such violation or default could not reasonably be expected to have a Material Adverse Effect. 

SECTION 4.04. Financial Condition; No Material Adverse Change. (a) Intermediate Holdings has heretofore furnished to the Lenders its
consolidated balance sheet and statements of income, stockholders equity and cash flows (i) as of and for the fiscal year ended on December 30, 2018, reported on by KPMG LLP, independent public accountants, and (ii) as of and for the
fiscal quarter and the portion of the fiscal year ended on September 30, 2018, certified by a Financial Officer of Intermediate Holdings. Such financial statements present fairly, in all material respects, the financial position, results of
operations and cash flows, in each case on a combined basis, of Intermediate Holdings and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit
adjustments and the absence of footnotes in the case of the statements referred to in clause (ii) above. 
 (b) Since December 30,
2018, there has been no material adverse change in the business, assets, operations or financial condition of Intermediate Holdings and its Subsidiaries, taken as a whole. 

  
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 SECTION 4.05. Properties. (a) Each Loan Party has (i) good, sufficient
legal title to (in the case of fee interests in real property), (ii) valid leasehold interests in (in the case of leasehold interests in real or personal property), and (iii) good title to (in the case of all other personal property), all
its respective property material to its business, except for (x) minor defects in title, including any Permitted Encumbrances, that do not materially interfere with its ability to conduct its business as currently conducted and (y) assets
disposed of in the ordinary course of business or as otherwise permitted under Section 6.04. 
 (b) Each Loan Party owns, or, to such
Loan Party’s knowledge, has the valid right to use, all Intellectual Property of such Loan Party necessary to conduct its business, and the use thereof by such Loan Party does not, to such Loan Party’s knowledge, infringe upon any
intellectual property right owned or controlled by any other Person, except for any such infringements that could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 4.06. Litigation and Environmental Matters. (a) There are no actions, suits or proceedings by or before any arbitrator or
Governmental Authority pending against or, to the knowledge of the Borrower, threatened against or affecting Intermediate Holdings or any of its Restricted Subsidiaries as to which there is a reasonable possibility of an adverse determination and
that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect (other than the Disclosed Matters). 
 (b)
Except for the Disclosed Matters and except with respect to any other matters that could not reasonably be expected to result in a Material Adverse Effect, neither Intermediate Holdings nor any of its Restricted Subsidiaries (i) has failed to
comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received written notice
of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability. 
 (c) Since the
date of this Agreement, there has been no change in the status of the Disclosed Matters that could reasonably be expected to result in a Material Adverse Effect. 

SECTION 4.07. Compliance with Laws and Agreements. Each Loan Party is in compliance with all laws, regulations and orders of any
Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so could not reasonably be expected to result in a Material Adverse Effect.

 SECTION 4.08. Investment Company Status. No Loan Party is a company “controlled” by a “registered investment
company” as such terms are defined in the Investment Company Act of 1940. 

  
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 SECTION 4.09. Taxes. Each Loan Party has timely filed or caused to be filed all Tax
returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which such Loan Party has
set aside on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 4.10. 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 result in a Material Adverse Effect. The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of
Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by an amount that could reasonably be expected to result in a Material Adverse Effect the fair
market value of the assets of such Plan, and the present value of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the
date of the most recent financial statements reflecting such amounts, exceed by an amount that could reasonably be expected to result in a Material Adverse Effect the fair market value of the assets of all such underfunded Plans. 

SECTION 4.11. Disclosure. (a) As of the Effective Date, the Borrower has disclosed to the Lenders all agreements, instruments and
corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it (other than matters of a general economic or industry-specific nature), that could reasonably be expected to result in a Material
Adverse Effect. None of the reports, financial statements, certificates or other written information furnished by or on behalf of any Loan Party to the Agent or any Lender in connection with the negotiation of this Agreement or delivered hereunder
(as modified or supplemented by other information so furnished) contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading; provided that, with respect to projections and pro forma financial information contained in such materials, the Borrower represents only that such projections and information were based upon good faith estimates and
assumptions believed by the Borrower to be reasonable at the time furnished, it being recognized by the Credit Parties that such projections and information as to future events are not to be viewed as facts and that actual results during the period
or periods covered by any such projections and information may differ from the projected results. 
 (b) As of the Effective Date, the
information included in any Beneficial Ownership Certification provided on or prior to the Effective Date to any Lender in connection with this Agreement is true and correct in all respects. 

SECTION 4.12. Anti-Corruption and Sanctions. Intermediate Holdings has implemented and maintains in effect policies and procedures
reasonably designed to promote compliance by Intermediate Holdings, the Borrower, their Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and 

  
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applicable Sanctions, and Intermediate Holdings, the Borrower, their Subsidiaries and their respective officers and directors and to the knowledge of the Borrower its employees and agents, are in
compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of Intermediate Holdings, the Borrower, any Subsidiary thereof, or, to the knowledge of the Borrower, any of their respective directors, officers, employees
or agents that will act in any capacity in connection with the credit facilities established hereby, is a Sanctioned Person. No Borrowing or Letter of Credit or use of proceeds thereof will violate any Anti-Corruption Law or applicable Sanctions.

 SECTION 4.13. EEA Financial Institutions. No Loan Party is an EEA Financial Institution. 

SECTION 4.14. Margin Regulations. The Borrower is not engaged principally, or as one of its important activities, in the business of
extending credit for the purpose of purchasing or carrying Margin Stock, and no part of the proceeds of any Borrowing or Letter of Credit extension hereunder will be used to purchase or carry any Margin Stock. 

SECTION 4.15. Solvency. The Loan Parties, taken as a whole, are Solvent. 

SECTION 4.16. Material Contracts. Schedule 4.16 contains a true, correct and complete list of all the Material Contracts in
effect on the Effective Date, all such Material Contracts are in full force and effect (except to the extent terminated in accordance with the terms thereof in the ordinary course of business, and not as a direct result of a breach thereof by any
Restricted Party) and no defaults exist thereunder (other than as described in Schedule 4.16). 
 SECTION 4.17. Real Estate and
Venues. As of the Effective Date, Schedule 4.17 contains a true, accurate and complete list of (i) all Real Estate Assets, (ii) all Existing Venues (including an indication of whether each such Venue constitutes a Leasehold
Venue or a Managed Venue) and (iii) all licenses, leases, subleases, Venue Agreements or assignments of leases (together with all amendments, modifications, supplements, renewals or extensions of any thereof) affecting each Real Estate Asset or
Existing Venue of any Loan Party, regardless of whether such Loan Party is the landlord or tenant (whether directly or as an assignee or successor in interest) under such licenses, lease, sublease, Venue Agreement or assignment. Each agreement
listed in clause (iii) of the immediately preceding sentence is in full force and effect and neither Intermediate Holdings nor the Borrower has knowledge of any material default that has occurred and is continuing thereunder, and each such
agreement constitutes the legally valid and binding obligation of each applicable Loan Party, enforceable against such Loan Party in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, fraudulent conveyance,
liquidation, preferential transfer, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles. 

  
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 ARTICLE V 

Affirmative Covenants 

Until the Commitments have expired or been terminated and the principal of, and interest on, each Loan and all fees payable hereunder shall
have been paid in full and all Letters of Credit shall have expired or terminated, in each case, without any pending draw, and all LC Disbursements shall have been reimbursed, Intermediate Holdings and the Borrower covenant and agree with the
Lenders that: 
 SECTION 5.01. Financial Statements and Other Information. Intermediate Holdings will furnish to the Agent and each
Lender: 
 (a) within 120 days after the end of each fiscal year of Intermediate Holdings (commencing with the fiscal year ended on or about
December 29, 2019), its audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the
previous fiscal year, all reported on by KPMG LLP or any other independent public accountants of recognized national standing (without a “going concern” or like qualification commentary or exception and without any qualification or
exception as to the scope of such audit (other than any qualification that is expressly solely with respect to, or expressly resulting solely from, an upcoming maturity date of the Revolving Loans within one year from the date of such opinion)) to
the effect that such consolidated financial statements present fairly in all material respects the financial position and results of operations of Intermediate Holdings and its consolidated Subsidiaries on a consolidated basis for the periods
indicated in accordance with GAAP consistently applied; 
 (b) within 45 days after the end of each of the first three fiscal quarters of
each fiscal year of Intermediate Holdings (commencing with the fiscal quarter ending on or about June 30, 2019), its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and
for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures as of the end of and for the corresponding period or periods of the previous fiscal year, all certified by one of its
Financial Officers as presenting fairly in all material respects the financial position and results of operations of Intermediate Holdings and its consolidated Subsidiaries on a consolidated basis for such period in accordance with GAAP consistently
applied, subject to normal year-end audit adjustments and the absence of footnotes; 
 (c)
concurrently with the delivery of any financial statements under clause (a) or (b) above, reports of certain venue-level key performance indicators consistent with a form to be agreed between the Administrative Agent and the Borrower from time
to time and covering the same time periods included in such financial statements; 

  
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 (d) concurrently with any delivery of financial statements under clause (a) or (b)
above, a certificate of a Financial Officer of the Borrower (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto,
(ii) setting forth reasonably detailed calculations demonstrating compliance with Sections 6.11(a), (b), (c), (d) and (e) and (iii) stating whether any change in GAAP or in the application thereof has occurred since the date of
the audited financial statements referred to in Section 4.04 and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such certificate (a “Compliance Certificate”);

 (e) promptly following any reasonable request therefor by the Agent or any Lender (through the Agent), copies of any detailed audit
reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of Intermediate Holdings or the Borrower by independent accountants in connection with the accounts or books of
Intermediate Holdings, the Borrower or any Subsidiary thereof, or any audit of any of them; 
 (f) as soon as practicable and in any event no
later than 30 days after the beginning of each fiscal year, a board-approved, internally-generated consolidated budget for the Borrower and its Subsidiaries for such fiscal year; and 

(g) promptly following any request therefor, (x) such other information regarding the operations, business affairs and financial condition
of the Borrower or any Subsidiary thereof, or compliance with the terms of this Agreement, as the Agent or any Lender (through the Agent) may reasonably request and (y) information and documentation reasonably requested by the Agent or any
Lender for purposes of compliance with applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation. 

Documents required to be delivered pursuant to Section 5.01(a) or (b) may be delivered electronically and, if so delivered, shall be
deemed to have been delivered on the date on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Agent have access (whether a commercial, third-party website or
whether made available by the Agent); provided that: (A) upon written request by the Agent (or any Lender through the Agent) to the Borrower, the Borrower shall deliver paper copies of such documents to the Agent or such Lender until a
written request to cease delivering paper copies is given by the Agent or such Lender and (B) the Borrower shall notify the Agent and each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the Agent
by electronic mail electronic versions (i.e., soft copies) of such documents. The Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no
responsibility to monitor compliance by the Borrower with any such request by a Lender for delivery, and each Lender shall be solely responsible for timely accessing posted documents or requesting delivery of paper copies of such document to it and
maintaining its copies of such documents. 

  
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 SECTION 5.02. Notices of Material Events. The Borrower will furnish to the Agent
prompt written notice of the following: 
 (a) the occurrence of any Default; 

(b) the filing or commencement of any action, suit, proceeding or investigation by or before any arbitrator or Governmental Authority against
or affecting the Borrower or any Affiliate thereof, including pursuant to any applicable Environmental Laws, that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect; 

(c) 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 a Material Adverse Effect; 
 (d) any material change in accounting or financial reporting practices by Intermediate Holdings, the
Borrower or any Subsidiary thereof; 
 (e) [reserved]; 

(f) any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect; and 

(g) any change in the information provided in any Beneficial Ownership Certification delivered to such Lender that would result in a change to
the list of beneficial owners identified in such certification. 
 Each notice delivered under this Section shall be accompanied by a
statement of a Financial Officer or other executive officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

SECTION 5.03. Existence; Conduct of Business. Intermediate Holdings will, and will cause each of its Restricted Subsidiaries to, do or
cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business; provided that the foregoing
shall not prohibit any merger, consolidation, Division, liquidation or dissolution permitted under Section 6.03; provided, further, that no Restricted Party shall be required to preserve any such existence, right, licenses,
permits, privileges or franchises if such Person’s board of directors (or similar governing body) shall determine that the preservation thereof is no longer desirable in the conduct of the business of such Person, and that the loss thereof is
not disadvantageous in any material respect to such Person or to Lenders. 
 SECTION 5.04. Payment of Obligations. Intermediate
Holdings will, and will cause each of its Restricted Subsidiaries to, pay its obligations, including Tax liabilities, that, if not paid, could result in a Material Adverse Effect before the same shall become delinquent or in default, except where
(a) the validity or amount thereof is being 

  
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contested in good faith by appropriate proceedings, (b) Intermediate Holdings or such Restricted Subsidiary has set aside on its books adequate reserves with respect thereto in accordance
with GAAP and (c) to the extent that the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 5.05. Maintenance of Properties; Insurance. Intermediate Holdings will, and will cause each of its Restricted Subsidiaries to,
(a) keep and maintain all property material to the conduct of its business in reasonably good working order and condition in the ordinary course, ordinary wear and tear excepted, and (b) maintain, with financially sound and reputable
insurance companies, insurance in such amounts and against such risks as are customarily maintained under similar circumstances by companies with similar reputation engaged in the same or similar businesses operating in the same or similar
locations. The Borrower will furnish to the Lenders, upon request of the Agent, information in reasonable detail as to the insurance so maintained. Each such policy of insurance shall (i) in the case of each liability insurance policy, name the
Agent, on behalf of the Secured Parties (or similar notation), as an additional insured thereunder as its interests may appear, and (ii) in the case of each property casualty insurance policy (other than business interruption insurance, if
any), contain a loss payable clause or endorsement, reasonably satisfactory in form and substance to the Agent, that names the Agent, on behalf of the Secured Parties (or similar notation), as the lender loss payee thereunder and provides for at
least ten days’ prior written notice to the Agent of any cancellation of such policy. The Agent agrees that, in its role as loss payee, so long as no Event of Default shall have occurred and be continuing and subject to the terms of
Section 2.08(d), it will make available to Intermediate Holdings, without unreasonable delay, any proceeds from such policies necessary to allow Intermediate Holdings or its Subsidiaries to effect swift repair or restoration of the applicable
damaged properties and recovery from the applicable loss. 
 SECTION 5.06. Books and Records; Inspection Rights. Intermediate
Holdings will, and will cause each of its Restricted Subsidiaries to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. Intermediate
Holdings will, and will cause each of its Restricted Subsidiaries to, permit any representatives designated by the Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books
and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and up to twice a year (or, if an Event of Default shall have occurred and be continuing, as often as
reasonably requested); provided, however, that, solely with respect to such discussions with such independent accountants at any time prior to the occurrence and continuance of an Event of Default, the Agent shall provide the Loan
Parties with notice at least three (3) Business Days prior to first initiating any such discussions and each Loan Party and any of its Restricted Subsidiaries shall be given the right to participate in such discussions (including reviewing any
audit drafts and letters to management prior to their delivery to such representative). In no event shall any such inspections include any physically invasive Phase II type environmental testing or sampling. 

  
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 SECTION 5.07. Compliance with Laws. Intermediate Holdings will, and will cause each
of its Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, except where the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
Intermediate Holdings will maintain in effect policies and procedures reasonably designed to promote compliance by Intermediate Holdings, the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with
Anti-Corruption Laws and applicable Sanctions. 
 SECTION 5.08. Use of Proceeds and Letters of Credit. The proceeds of the Term Loans
made on the Effective Date shall be applied by the Borrower to pay the Transaction Costs and to refinance amounts outstanding under the Existing Credit Agreement with any balance being applied for working capital and general corporate purposes of
Intermediate Holdings and its Subsidiaries, including Permitted Acquisitions and New Venues. The proceeds of the Revolving Loans made on the Effective Date shall be applied by the Borrower to pay the Transaction Costs, to refinance amounts
outstanding under the Existing Credit Agreement and for working capital and general corporate purposes of Intermediate Holdings and its Subsidiaries, including Permitted Acquisitions and New Venues, to serve as LC Cash Collateral or to acquire any
LC Collateral Note. The proceeds of the Revolving Loans made after the Effective Date shall be applied by the Borrower for working capital and general corporate purposes of Intermediate Holdings and its Subsidiaries, including Permitted Acquisitions
and New Venues, to serve as LC Cash Collateral or to acquire any LC Collateral Note. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations of the Board,
including the Margin Regulations. Letters of Credit will be issued only to support the general corporate purposes of Intermediate Holdings and its Subsidiaries. The Borrower will not request any Borrowing or Letter of Credit, and the Borrower shall
not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or
authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) to fund any activities or business of or with any Sanctioned Person or in any Sanctioned Country, except to
the extent permitted for a Person required to comply with Sanctions, or (C) in any other manner that would result in the violation of any Sanctions by any Restricted Party or its Subsidiaries. 

SECTION 5.09. [Reserved]. 

SECTION 5.10. Collateral. (a) Intermediate Holdings and the Borrower shall take or cause to be taken all actions required to be
taken to permit the Agent to maintain a first priority perfected security interest in the Collateral, subject only to any Liens expressly permitted by Section 6.02 and the terms of the Security Agreement and the other Loan Documents.
Intermediate Holdings and the Borrower will, or will cause the other Loan Parties to, subject to the terms of the Security Agreement, execute any and all further documents, financing statements, agreements and instruments, and take all such further
actions (including the filing and recording of financing statements and other 

  
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documents), that may be required under any applicable Law, or that the Agent or the Required Lenders may reasonably request, to cause the Collateral to be pledged to the Agent pursuant to the
Security Documents and to perfect such Liens to the extent required thereby, with the priority required thereby, all at the expense of the Borrower. The Borrower also agrees to provide to the Agent, from time to time upon reasonable request,
evidence reasonably satisfactory to the Agent as to the perfection and priority of the Liens created or intended to be created by the Security Agreement. The Borrower will furnish to the Agent prior written notice of any change (i) in any Loan
Party’s organizational name, (ii) in any Loan Party’s entity type or (iii) in any Loan Party’s Federal Taxpayer Identification Number. The Borrower agrees not to effect or permit any change referred to in the preceding
sentence unless all arrangements reasonably satisfactory to the Agent for filings have been made under the UCC or otherwise that are required in order for the Agent to continue at all times following such change to have a valid, legal and perfected
security interest in all the Collateral and for the Collateral at all times following such change to have a valid, legal and perfected security interest as contemplated in the Security Documents. 

(b) In the event that any Person becomes a wholly-owned Domestic Subsidiary (other than an Immaterial Subsidiary, CFC Holdco or an Unrestricted
Subsidiary) of the Borrower, the Borrower shall within thirty (30) days after such Person becomes such a wholly-owned Domestic Subsidiary or any Unrestricted Subsidiary becomes a Restricted Subsidiary pursuant to a Subsidiary Redesignation or
any Immaterial Subsidiary ceases to be identified as an Immaterial Subsidiary on any Compliance Certificate delivered by the Borrower, as the case may be (unless the Agent, in its sole discretion, extends additional time for compliance), (a) cause
such Domestic Subsidiary to become a Guarantor under the Security Agreement and (b) take all such actions and execute and deliver, or cause to be executed and delivered, all such documents, instruments, agreements, and certificates as are
similar to those described in Sections 3.01(b), (c), (k), (l) and (q), and, if requested by the Agent, legal opinions as are similar to those described in Section 3.01(d). In the event that any Person becomes a Foreign Subsidiary (other than an
Immaterial Subsidiary or an Unrestricted Subsidiary) of the Borrower or a CFC Holdco which is a Subsidiary of the Borrower, and the ownership interests of such Foreign Subsidiary or CFC Holdco are owned directly by the Borrower or by any
wholly-owned Domestic Subsidiary thereof (other than a CFC Holdco, an Immaterial Subsidiary or an Unrestricted Subsidiary), the Borrower shall, or shall cause such Domestic Subsidiary to, within thirty (30) days after such Person becomes such a
Foreign Subsidiary or a CFC Holdco (unless the Agent, in its sole discretion, extends additional time for compliance), deliver, all such documents, instruments, agreements, and certificates as are similar to those described in Section 3.01(c),
and the Borrower shall take, or shall cause such Domestic Subsidiary to take, all of the actions referred to in Section 3.01(b) necessary to grant and to perfect a First Priority Lien in favor of the Collateral Agent, for the benefit of Secured
Parties, under the Security Agreement in (i) sixty-five percent (65%) of the issued and outstanding Equity Interests of such Foreign Subsidiary or CFC Holdco entitled to vote (within the meaning of Treas. Reg.
Section 1.956-2(c)(2)) and (ii) 100% of the issued and outstanding Equity Interests of such Foreign Subsidiary or CFC Holdco not entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)). With respect to each such new Subsidiary 

  
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(including any Immaterial Subsidiary or Unrestricted Subsidiary), the Borrower shall promptly send to the Agent written notice setting forth with respect to such Person the date on which such
Person became a Subsidiary of the Borrower. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, no Loan Party shall be required to grant a Lien on any Excluded Property and the Collateral shall exclude all Excluded
Property. 
 SECTION 5.11. ERISA Obligations. Intermediate Holdings and the Borrower shall make, and shall cause each of its
Subsidiaries to make, all required contributions to each Plan and Multiemployer Plan to which Intermediate Holdings, the Borrower or other member of its Controlled Group has or shall have an obligation to make contributions. 

SECTION 5.12. Depository Banks. By no later than June 30, 2019 (or such later date as the Agent may agree to), Intermediate
Holdings will, and will cause each Restricted Subsidiary organized in the United States to, maintain the Lenders as its principal depository banks in the United States, including for the maintenance of principal operating, administrative, cash
management, collection activity, and other deposit accounts for the conduct of business, and as its principal providers for treasury management services; provided, that the Restricted Parties shall be permitted to maintain the Fifth Third
Accounts. 
 SECTION 5.13. New Venue Agreements. In the event that any Restricted Party enters into any new Venue Agreement after the
Effective Date, then within ten (10) Business Days after entry into such new Venue Agreement the Borrower shall, or shall cause its Restricted Subsidiary that is party to such Venue Agreement to, deliver to the Agent a copy of the applicable
executed Venue Agreement and such other evidence (if any) as may be reasonably required in order demonstrate that such new Venue Agreement satisfies the conditions set forth in the definition of “Permitted New Venue”. 

SECTION 5.14. Post Closing Matters. Intermediate Holdings will, and will cause each Restricted Subsidiary to, take each of the actions
set forth on Schedule 5.14 within the time period prescribed therefor on such schedule (as such time period may be extended by the Agent in its reasonable discretion). 

ARTICLE VI 
 Negative Covenants

 Until the Commitments have expired or terminated and the principal of, and interest on, each Loan and all fees payable hereunder have
been paid in full and all Letters of Credit have expired or terminated, in each case, without any pending draw, and all LC Disbursements shall have been reimbursed, Intermediate Holdings and the Borrower covenants and agrees with the Lenders that:

  
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 SECTION 6.01. Indebtedness. Intermediate Holdings and the Borrower will not, and will
not permit any Restricted Subsidiary to, create, incur, assume or permit to exist any Indebtedness, except: 
 (a)
Indebtedness created hereunder; 
 (b) Indebtedness existing on the date hereof and set forth on Schedule 6.01 and
extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (except by the amount of any accrued interest and premiums with respect to such Indebtedness and transaction fees, costs and
expenses in connection with such extension, renewal or replacement thereof); 
 (c) Indebtedness (i) of any Guarantor
Subsidiary or Restricted Foreign Subsidiary owing to the Borrower or to any other Guarantor Subsidiary, or of the Borrower owing to any Guarantor Subsidiary, (ii) of any Restricted Foreign Subsidiary owing to any other Restricted Foreign
Subsidiary and (iii) of any Restricted Party owing to any Subsidiary that is not a Restricted Party (provided, that (a) such Indebtedness constitutes Subordinated Indebtedness, (b) such Indebtedness is incurred in exchange for
an equivalent amount of cash received from such Subsidiary and (c) the aggregate amount of any Investments previously made by any Restricted Party in such Subsidiary shall have been returned in full, in cash); provided, that, in respect
of Indebtedness owing to any Loan Party that is permitted under clause (i) above, (x) all such Indebtedness shall be subject to a First Priority Lien pursuant to the Security Agreement and (y) if any such Indebtedness is evidenced by a
promissory note, then all such notes shall be delivered to the Agent pursuant to the Security Agreement; 
 (d) Guarantees by
the Borrower of Indebtedness of any Guarantor Subsidiary and by any Restricted Subsidiary of Indebtedness of the Borrower or any Guarantor Subsidiary with respect, in each case, to Indebtedness otherwise permitted to be incurred pursuant to this
Section 6.01; 
 (e) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition, construction or
improvement of any fixed or capital assets (including real property), including Capital Lease Obligations and any Indebtedness assumed in connection with the acquisition of any such assets (including real property) or secured by a Lien on any such
assets (including real property) prior to the acquisition thereof, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof; provided that (i) such Indebtedness is
incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement and (ii) the aggregate principal amount of Indebtedness permitted by this clause (e) shall not exceed $25,000,000 at any time
outstanding; 

  
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 (f) unsecured Indebtedness arising out of Permitted Acquisitions and other
Investments permitted to be made in accordance with Section 6.05 (i) consisting of obligations of the Restricted Parties under provisions relating to indemnification or adjustment of purchase price with respect thereto based on changes in
working capital or (ii) consisting of earnout obligations based on the income generated by the assets acquired or investment made after the consummation thereof in an aggregate amount not to exceed $5,000,000; 

(g) Indebtedness of the Borrower or any Subsidiary as an account party in respect of (i) trade letters of credit in an
aggregate face amount not to exceed $5,000,000 at any time outstanding or (ii) Third Party Letters of Credit issued by Third Party LC Issuers in an aggregate face amount not to exceed, together with the LC Exposure, the Issuing Bank Sublimit at
any time outstanding; 
 (h) other unsecured Indebtedness in an aggregate principal amount not exceeding $10,000,000 at any
time outstanding; 
 (i) Indebtedness arising out of Landlord Financed Capital Expenditures in an aggregate amount not to
exceed $10,000,000 at any time outstanding; 
 (j) Indebtedness of Restricted Foreign Subsidiaries in an aggregate
outstanding amount not to exceed $20,000,000 at any time; provided, that, any guarantee thereof by any Loan Party must otherwise be permitted to be incurred in accordance with another clause of this Section 6.01 (other than
Section 6.01(k) below) and any such guarantee by a Loan Party shall be included for purposes of determining the aggregate utilization of any such other clause of this Section 6.01; 

(k) Indebtedness which may be deemed to exist pursuant to any guaranties, performance, surety, statutory or appeal bonds or
similar obligations incurred in the ordinary course of business; 
 (l) Indebtedness incurred by any Restricted Party arising
from agreements providing for indemnification or from guaranties or letters of credit, surety bonds or performance bonds securing the performance of such Restricted Party pursuant to such agreements, in connection with Venues or permitted
Dispositions of any business, assets or any Subsidiary of any Restricted Party; 
 (m) Indebtedness in respect of netting
services, overdraft protections and otherwise in connection with Deposit Accounts; 
 (n) guaranties of the obligations
incurred in the ordinary course of business to suppliers, customers, franchisees, landlords and licensees of any other Restricted Party (but not, for the avoidance of doubt, for borrowed money); 

(o) Indebtedness which may be deemed to exist with respect to any management fee or payment obligation arising under the Parent
Organizational Agreement which was not permitted to be paid in cash when due; 

  
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 (p) Indebtedness of the Borrower or any of its Restricted Subsidiaries in
respect of commercial credit cards, stored value cards, purchasing cards, treasury management services, netting services, overdraft protections, check drawing services, automated payment services (including depository, overdraft, controlled
disbursement, ACH transactions, return items and interstate depository network services), employee credit card programs, cash pooling services and any arrangements or services similar to any of the foregoing and/or otherwise in connection with cash
management and Deposit Accounts; 
 (q) Indebtedness of any Restricted Party consisting of insurance premium financings
entered into in the ordinary course of business; provided, such Indebtedness does not exceed the unpaid amount of such premiums; 

(r) Indebtedness under any Swap Agreement or commodity hedging agreement with any Lender entered into in the ordinary course of
business and not entered into for speculative purposes; 
 (s) Indebtedness (including obligations in respect of letters of
credit, bank guaranties, surety bonds, performance bonds or similar instruments with respect to such Indebtedness) incurred by any Restricted Party in the ordinary course of business in respect of workers compensation claims, unemployment insurance
(including premiums related thereto), other types of social security, vacation pay, health, disability or other employee benefits; 

(t) Indebtedness of any Restricted Party representing deferred compensation to directors, officers, employees, members of
management, managers, and consultants of the Restricted Parties incurred in the ordinary course of business; and 
 (u)
Subordinated Indebtedness of any Restricted Party which is not otherwise permitted by another subsection of this Section 6.01 so long as after giving effect thereto on a Pro Forma Basis as of the last day of the most recently ended fiscal
quarter for which financial statements have been (or were required to be) delivered pursuant to Section 5.01, the Borrower shall be in compliance with the financial covenants set forth in Section 6.11. 

SECTION 6.02. Liens. Intermediate Holdings and the Borrower will not, and will not permit any Restricted Subsidiary to, create, incur,
assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it, or collaterally assign any income or revenues (including accounts receivable) or rights in respect of any thereof, except: 

(a) Permitted Encumbrances; 
 (b)
any Lien on any property or asset of Intermediate Holdings or any Restricted Subsidiary existing on the date hereof and set forth in Schedule 6.02; provided that (i) such Lien shall not apply to any other property or asset of
Intermediate Holdings or any Restricted Subsidiary and (ii) such Lien shall secure only those obligations which it secures on the date hereof and extensions, renewals and replacements thereof that do not increase the outstanding principal
amount thereof (except by the amount of any accrued interest and premiums with respect to such Indebtedness and transaction fees, costs and expenses in connection with such extension, renewal or replacement thereof); 

  
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 (c) any Lien existing on any property or asset prior to the acquisition thereof by
Intermediate Holdings or any Restricted Subsidiary or existing on any property or asset of any Person that becomes a Restricted Subsidiary after the Effective Date prior to the time such Person becomes a Restricted Subsidiary; provided that
(i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Restricted Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of Intermediate
Holdings or any Restricted Subsidiary 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 Restricted Subsidiary, as the case may be, and extensions, renewals
and replacements thereof that do not increase the outstanding principal amount thereof (except by the amount of any accrued interest and premiums with respect to such Indebtedness and transaction fees, costs and expenses in connection with such
extension, renewal or replacement thereof); 
 (d) Liens on fixed or capital assets (including real property) acquired, constructed or
improved by Intermediate Holdings or any Restricted Subsidiary; provided that (i) such security interests secure Indebtedness permitted by clause (e) of Section 6.01, (ii) such security interests and the Indebtedness
secured thereby are incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement and (iii) such security interests shall not apply to any other property or assets of Intermediate Holdings or
any Restricted Subsidiary; 
 (e) other Liens which are not otherwise permitted by another subsection of this Section 6.02 securing
Indebtedness in an aggregate amount not exceeding $10,000,000; 
 (f) Liens on Equity Interests of (i) Joint Ventures solely consisting
of customary put/call rights, drag-along rights or similar rights in favor of any Joint Venture Partner pursuant to the relevant joint venture agreement or arrangement and (ii) Unrestricted Subsidiaries; 

(g) Liens securing Indebtedness permitted pursuant to Section 6.01(j); provided that no such Lien extends to any asset other than
assets of Foreign Subsidiaries; 
 (h) Liens securing Indebtedness permitted pursuant to Section 6.01(g)(i) in an aggregate amount not
to exceed $5,000,000; 
 (i) Liens on LC Cash Collateral or LC Collateral Notes securing Indebtedness or other reimbursement obligations in
respect of any Third Party Letter of Credit permitted pursuant to Section 6.01(g)(ii); and 

  
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 (j) Liens solely on any cash earnest money deposits made by any Restricted Party in
connection with any letter of intent or purchase agreement permitted hereunder. 
 SECTION 6.03. Fundamental Changes.
(a) Intermediate Holdings and the Borrower will not, and will not permit any Restricted Subsidiary to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, consummate a Division as
the Dividing Person, or otherwise Dispose of all or substantially all of its assets, or all or substantially all of the stock of any of its Subsidiaries (in each case, whether now owned or hereafter acquired), or liquidate or dissolve, except that
(i) any Restricted Subsidiary may merge into the Borrower in a transaction in which the Borrower is the surviving company, (ii) any Restricted Subsidiary (other than the Borrower) or other Person may merge into any Subsidiary in a
transaction in which the surviving entity is a Restricted Subsidiary (and if a party to such transaction is a Loan Party, the resulting entity shall also be a Loan Party), (iii) any Restricted Subsidiary may Dispose of its assets to the
Borrower or to another Restricted Subsidiary, (iv) any Restricted Subsidiary that is a limited liability company may consummate a Division as the Dividing Person if, immediately upon the consummation of the Division, the assets of the
applicable Dividing Person are held by one or more Restricted Subsidiaries at such time, or, with respect to assets not so held by one or more Restricted Subsidiaries, such Division, in the aggregate, would otherwise result in a Disposition
permitted by Section 6.04(j) and (v) any Restricted Subsidiary may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower and is not materially
disadvantageous to the Lenders; provided that any such merger or Division involving a Person that is not a wholly owned Subsidiary immediately prior to such merger or Division shall not be permitted unless also permitted by Section 6.05;
provided further that, notwithstanding anything to the contrary in this Agreement, any Subsidiary which is a Division Successor resulting from a Division of assets of a Restricted Subsidiary may not be deemed to be an Immaterial
Subsidiary at the time of or in connection with the applicable Division. 
 (b) Intermediate Holdings and the Borrower will
not, and will not permit any of the Restricted Subsidiaries to, engage to any material extent in any business other than businesses of the type conducted by the Borrower and its Subsidiaries on the date of execution of this Agreement and businesses
reasonably related thereto. 
 (c) The Borrower will not permit its fiscal year to end on a day other than the last Sunday of
each calendar year or change the Borrower’s method of determining its fiscal quarters; provided that upon prior written notice to the Agent, Intermediate Holdings may, and may allow its Restricted Subsidiaries to, change its fiscal year
to match the fiscal year end of MSG or any other MSG Company. 

  
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 SECTION 6.04. Dispositions. Intermediate Holdings and the Borrower will not, and will
not permit any Restricted Subsidiary to, make any Disposition, except: 
 (a) Dispositions of obsolete or worn out property in the ordinary
course of business; 
 (b) Dispositions of inventory and Permitted Investments in the ordinary course of business; 

(c) Dispositions of equipment or real property to the extent that (i) such property is exchanged for credit against the purchase price of
similar replacement property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property; 

(d) Dispositions of property (i) by any Loan Party to another Loan Party, (ii) any Restricted Party to any Loan Party and
(iii) by any Restricted Foreign Subsidiary to any other Restricted Foreign Subsidiary; 
 (e) Dispositions permitted by
Section 6.03; 
 (f) leases, licenses, subleases or sublicenses (including the provision of open source software under an open source
license) granted in the ordinary course of business and on ordinary commercial terms that do not interfere in any material respect with the business of Intermediate Holdings and its Restricted Subsidiaries; 

(g) Dispositions of intellectual property rights that are no longer used or useful in the business of Intermediate Holdings and its Restricted
Subsidiaries; 
 (h) the discount, write-off or Disposition of overdue accounts receivable in the
ordinary course of business; 
 (i) Restricted Payments permitted by Section 6.07 and Investments permitted by Section 6.05; 

(j) Dispositions by the Borrower and its Subsidiaries not otherwise permitted under this Section; provided that the aggregate book value
of all Dispositions pursuant to this clause (j) in any trailing twelve month period shall not exceed $10,000,000; provided further that the cash proceeds thereof shall be applied, to the extent required by Section 2.08(d), in
accordance therewith; 
 (k) Dispositions of Investments in Permitted Joint Ventures to the extent required by, or made pursuant to, buy/sell
arrangements with Joint Venture Partners set forth in the relevant Joint Venture arrangement, stockholders agreement or similar agreement; provided that the cash proceeds thereof shall be applied, to the extent required by
Section 2.08(d), in accordance therewith; 
 (l) (i) any expiration of any option agreement in respect of real or personal property and
(ii) any surrender or waiver of contractual rights or the settlement, release or surrender of contractual rights or litigation claims in the ordinary course of business, in each case, which do not materially interfere with the business of any
Loan Party; and 

  
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 (m) Dispositions by any Restricted Party of Equity Interests of, or sales of Indebtedness or
other securities of, Unrestricted Subsidiaries; provided that the cash proceeds thereof shall be applied, to the extent required by Section 2.08(d), in accordance therewith. 

SECTION 6.05. Investments, Loans, Advances, Guarantees and Acquisitions. Intermediate Holdings and the Borrower will not, and will not
permit any of its Restricted Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with, or as a Division Successor pursuant to the Division of, any Person that was not a wholly owned Subsidiary prior to such merger or
Division) any Investment, except: 
 (a) Permitted Investments and Investments in cash; 

(b) investments by any Restricted Party existing on the date hereof in the capital stock of Restricted Subsidiaries and Investments made after
the Effective Date in any Guarantor Subsidiaries; 
 (c) loans or advances made by any Restricted Subsidiary to Intermediate Holdings or any
Restricted Subsidiary; 
 (d) Guarantees constituting Indebtedness permitted by Section 6.01(d); 

(e) Permitted Acquisitions; 
 (f)
Investments (i) in any Equity Interests received in satisfaction or partial satisfaction thereof from financially troubled account debtors, and (ii) in the form of deposits, prepayments and other credits to suppliers made in the ordinary
course of business consistent with the past practices of the Restricted Parties; 
 (g) intercompany loans to the extent permitted under
Section 6.01; 
 (h) Consolidated Capital Expenditures permitted by Section 6.11(d); 

(i) loans and advances to employees of Intermediate Holdings and its Restricted Subsidiaries (i) made in the ordinary course of business
and described on Schedule 6.05(i), and (ii) any refinancings of such loans after the Effective Date in an aggregate amount not to exceed $500,000 outstanding at any time to any single employee and $2,000,000 in the aggregate outstanding
at any time during the term of this Agreement; 
 (j) Investments described on Schedule 6.05(j); 

(k) Investments in Restricted Subsidiaries; 

(l) Investments consisting of the formation of Subsidiaries; provided, that (i) any such Subsidiary becomes a Guarantor Subsidiary
in accordance with and to the extent required under Section 5.10, and (ii) any such Subsidiary which does not become a Guarantor Subsidiary shall be required to comply with Section 6.05(k) above or Section 6.05(q) below (as
applicable); 

  
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 (m) to the extent constituting Investments, the establishment of Permitted New Venues; 

(n) Investments consisting of the licensing or contribution of Intellectual Property pursuant to joint marketing or other similar arrangements
with other Persons that are not otherwise prohibited hereunder and which do not interfere in any material respect with the ordinary conduct of the business of Intermediate Holdings and its Restricted Subsidiaries; 

(o) to the extent constituting Investments, purchases and acquisitions of inventory, supplies, materials and equipment or purchases of contract
rights or licenses or leases of Intellectual Property in each case in the ordinary course of business; 
 (p) other Investments which are not
otherwise permitted by another subsection of this Section 6.05 in an aggregate amount not to exceed at any time $1,000,000 plus an aggregate amount equal to any returns (including dividends, interest, distributions, returns of principal,
profits on sale, repayments, income and similar amounts) actually received by Intermediate Holdings or any of its Restricted Subsidiaries in Cash in respect of any such Investment; 

(q) Investments in Permitted Joint Ventures; provided that (i) the Investment Expenditures during any Annual Measurement Period
shall not exceed the Investment Annual Total Limit and (ii) if any Investment pursuant to this Section 6.05(q) is made in any Joint Venture that was not a Restricted Subsidiary on the date on which such Investment was made but becomes a
Restricted Subsidiary thereafter by complying with Section 5.10, then such Investment may, at the option of the Borrower upon written notice to the Agent, upon such Joint Venture becoming a Restricted Subsidiary and so long as such Joint
Venture remains a Restricted Subsidiary, be deemed to have been made pursuant to Section 6.05(b) or Section 6.05(k) (to the extent applicable and permitted thereby) and not in reliance on this Section 6.05(q); 

(r) Investments in Unrestricted Subsidiaries; provided that the aggregate amount of all Investments made pursuant to this clause
(r) during any Annual Measurement Period shall not exceed the sum of (i) the Investment Unrestricted Annual Limit, plus (ii) the Investment Unrestricted Carryover Amount, if any, for such Annual Measurement Period (it being
agreed that any Investments made pursuant to this clause (r) during such Annual Measurement Period shall be deemed to be applied first to the Investment Unrestricted Annual Limit for such Annual Measurement Period and second to any Investment
Unrestricted Carryover Amount), plus (iii) an aggregate amount equal to any returns (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) actually received by the
Restricted Parties in cash in respect of any such Investment; provided, that if any Investment pursuant to this Section 6.05(r) is made in any Unrestricted Subsidiary that was not a Restricted Subsidiary on the date on which such
Investment was made but becomes a Restricted 

  
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Subsidiary thereafter by complying with Section 5.10, then such Investment may, at the option of the Borrower upon written notice to the Agent, upon such Unrestricted Subsidiary becoming a
Restricted Subsidiary and so long as such Unrestricted Subsidiary remains a Restricted Subsidiary, be deemed to have been made pursuant to Section 6.05(b) or Section 6.05(k) (to the extent applicable and permitted thereby) and not in
reliance on this Section 6.05(r); and 
 (s) Investments in LC Collateral Notes in an aggregate principal amount not to exceed, at any
time, the difference between (i) the Issuing Bank Sublimit minus (ii) the sum of the LC Exposure at such time and the outstanding amount of LC Cash Collateral at such time. 

SECTION 6.06. Swap Agreements. Intermediate Holdings and the Borrower will not, and will not permit any of the Restricted Subsidiaries
to, enter into any Swap Agreement for speculative purposes; provided, that, for the avoidance of doubt, Intermediate Holdings and the Restricted Subsidiaries may, but are not obligated to, enter into Swap Agreements in order to effectively
cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of Intermediate Holdings or any Restricted Subsidiary.

 SECTION 6.07. Restricted Payments. Intermediate Holdings and the Borrower will not, and will not permit any of its Restricted
Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, except: 
 (a) Intermediate
Holdings and the Borrower may declare and pay dividends with respect to its Equity Interests payable solely in additional shares of its common stock; 

(b) Restricted Subsidiaries of the Borrower may declare and pay dividends ratably with respect to their Equity Interests; 

(c) the Borrower may make Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans for management or
employees of the Borrower and its Subsidiaries; 
 (d) the Restricted Subsidiaries may make Restricted Payments to Intermediate Holdings to
permit Intermediate Holdings to make any Restricted Payment otherwise permitted under this Section 6.07 at such time, so long as Intermediate Holdings promptly applies the amount of any such Restricted Payment for such purpose; 

(e) Intermediate Holdings may make Permitted Tax Payments when due; 

(f) Intermediate Holdings may make Permitted Equity Issuances; 

  
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 (g) (i) any Restricted Party may make Restricted Payments to any other Loan Party (other
than to Intermediate Holdings), (ii) any Restricted Foreign Subsidiary may make Restricted Payments to any other Restricted Foreign Subsidiary and (iii) any Joint Venture may make Restricted Payments to each other owner of Equity Interests of
such Joint Venture on a pro rata basis (or more favorable basis from the perspective of the Borrower or such Restricted Subsidiary) based on their relative ownership interests; and 

(h) other Restricted Payments (including scheduled payments of cash interest when due (at the
non-default rate) in respect of any Subordinated Indebtedness permitted to be incurred under Section 6.01(u) to the extent permitted by the applicable subordination agreement entered into between the
Agent and the holder of such Indebtedness); provided, that, in each case, (i) no Event of Default shall have occurred and be continuing or would result therefrom, (ii) the Senior Leverage Ratio shall be at least 0.50:1.00 less than
the then in effect Senior Leverage Multiple, both before and after giving pro forma effect to such Restricted Payment, (iii) the Total Leverage Ratio shall be at least 0.50:1.00 less than the then in effect Total Leverage Multiple, both before
and after giving pro forma effect to such Restricted Payment and (iv) the Fixed Charge Coverage Ratio shall not be less than the then in effect Fixed Charge Coverage Multiple, both before and after giving pro forma effect to such Restricted
Payment. 
 SECTION 6.08. Transactions with Affiliates. Intermediate Holdings and the Borrower will not, and will not permit any of
its Restricted Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except
(a) in the ordinary course of business at prices and on terms and conditions not less favorable to Intermediate Holdings or such Restricted Subsidiary than could be obtained on an arm’s-length basis
from unrelated third parties and (b) any Restricted Payment permitted by Section 6.07; provided, that the foregoing restrictions shall not apply to (i) any transaction between the Borrower and any Subsidiary thereof or any
other transaction between or among the Borrower or any of its Subsidiaries (or an entity that becomes a Subsidiary as a result of such transaction) to the extent expressly permitted or not prohibited by this Agreement; (ii) reasonable and
customary fees paid to members of the board of directors (or similar governing body) of Intermediate Holdings and its Restricted Subsidiaries; (iii) compensation arrangements for officers and other employees of Intermediate Holdings and its
Subsidiaries entered into in the ordinary course of business; (iv) payments to MSG pursuant to the Parent Organizational Agreement to the extent otherwise permitted hereunder; (v) transactions described on Schedule 6.08; and
(vi) transactions with Permitted Joint Ventures for the purchase or sale of goods, equipment, products, parts and services entered into in the ordinary course of business. The Borrower shall disclose in writing each material transaction with
any Affiliate of Intermediate Holdings to the Agent (excluding, for the avoidance of doubt, transactions among Restricted Parties not otherwise prohibited hereunder). 

SECTION 6.09. Restrictive Agreements. Intermediate Holdings and the Borrower will not, and will not permit any of the Restricted
Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of Intermediate Holdings or any Restricted Subsidiary to
create, incur or permit to exist any Lien upon any of its 

  
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property or assets, or (b) the ability of any Restricted Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make or repay loans or
advances to Intermediate Holdings or any Restricted Subsidiary or to Guarantee Indebtedness of Intermediate Holdings or any Restricted Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by
law or by this Agreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.09 (but shall apply to any extension or renewal of, or any amendment or modification
expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale; provided that such
restrictions and conditions apply only to the Restricted Subsidiary that is to be sold and such sale is permitted hereunder, (iv) clause (a) of the foregoing shall not apply to 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 (v) clause (a) of the foregoing shall not apply to customary provisions in leases
and other contracts restricting the assignment thereof. 
 SECTION 6.10. Sale and Leaseback Transactions. Intermediate Holdings and
the Borrower will not, and will not permit any of the Restricted Subsidiaries to, enter into any arrangement, directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned
or hereafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same purpose or purposes as the property sold or transferred. 

SECTION 6.11. Financial Covenants. 

(a) Fixed Charge Coverage Ratio. Intermediate Holdings will not permit the Fixed Charge Coverage Ratio, as of the last day of each
fiscal quarter ending after the Effective Date, to be less than the Fixed Charge Coverage Multiple. 
 (b) Senior Leverage Ratio.
Intermediate Holdings will not permit the Senior Leverage Ratio, as of the last day of each fiscal quarter ending after the Effective Date, to exceed the then applicable Senior Leverage Multiple. 

(c) Total Leverage Ratio. Intermediate Holdings will not permit the Total Leverage Ratio, as of the last day of each fiscal quarter
ending after the Effective Date, to exceed the then applicable Total Leverage Multiple. 
 (d) Maximum Consolidated Capital
Expenditures. Intermediate Holdings shall not, and shall not permit the Restricted Subsidiaries to, make or incur Consolidated Capital Expenditures, during any Annual Measurement Period, commencing with the Annual Measurement Period ending on
the last Sunday of the calendar year ending December 31, 2019, in an aggregate amount for the Restricted Parties in excess of the sum of (1) CapEx Annual Limit for such Annual Measurement Period, plus (2) the CapEx Carryover
Amount, if any, for such Annual Measurement Period; it being agreed that, for purposes of this Section 6.11(d), any Consolidated Capital Expenditures made during any Annual Measurement Period shall be deemed to be applied first to the
applicable CapEx Annual Limit for such Annual Measurement Period and second to any CapEx Carryover Amount. 

  
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 (e) Minimum Consolidated Liquidity. Intermediate Holdings shall not permit
Consolidated Liquidity to be less than $5,000,000 at any time; provided, however, in the event that Consolidated Liquidity shall be less than $5,000,000 at any time, such occurrence shall not be deemed a breach of this
Section 6.11(e) so long as (i) within five (5) Business Days of such occurrence, Consolidated Liquidity shall be greater than $5,000,000 and (ii) Consolidated Liquidity shall not have been less than $5,000,000 at any time on more
than two (2) occasions in any trailing ninety (90) day period; provided further, that in the event that Consolidated Liquidity shall be less than $5,000,000 either (x) for any period in excess of five (5) Business
Days or (y) on more than two (2) occasions in any trailing ninety (90) day period, such occurrence shall not constitute an Event of Default if, within five (5) Business Days thereafter, Intermediate Holdings shall have received
net cash proceeds of a capital contribution or issuance of Permitted Equity in an amount not less than the greatest amount by which Consolidated Liquidity was less than $5,000,000 at any time during the trailing ninety (90) day period. 

(f) Financial Cure. Notwithstanding anything to the contrary in this Agreement (including Article VII), upon the occurrence of an Event
of Default as a result of the failure of Intermediate Holdings to comply with Section 6.11(a), (b) or (c) above for any fiscal quarter, Intermediate Holdings shall have the right (the “Cure Right”) (at any time after such
fiscal quarter and until the date that is 10 Business Days after the date on which financial statements for such fiscal quarter are required to be delivered pursuant to Section 5.01) to issue Permitted Equity (without giving effect to clause
(f) thereof) for cash or otherwise receive cash contributions, and in each case, to the extent such cash proceeds are contributed to the capital of the Borrower (the “Cure Amount”), and upon receipt by the Borrower of
such cash proceeds Section 6.11(a), (b) or (c) shall be recalculated giving effect to a pro forma increase in the amount of Consolidated Adjusted EBITDA by an amount equal to the Cure Amount (notwithstanding the absence of a related add-back in the definition of “Consolidated Adjusted EBITDA”) solely for the purpose of determining compliance with Section 6.11(a), (b) or (c) as of the end of such fiscal quarter and for
applicable subsequent periods that include such fiscal quarter. If, after giving effect to the foregoing recalculation, the requirements of Section 6.11(a), (b) or (c) would be satisfied, then the requirements of Section 6.11(a), (b)
or (c) shall be deemed satisfied as of the end of the relevant fiscal quarter with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of Section 6.11(a), (b) or
(c) that had occurred (or would have occurred) shall be deemed cured for the purposes of this Agreement. Notwithstanding anything herein to the contrary, (i) in each four consecutive fiscal quarter period there shall be at least two
(2) fiscal quarters (which may, but are not required to be, consecutive) in which the Cure Right is not exercised, (ii) during the term of this Agreement, the Cure Right shall not be exercised more than four (4) times, (iii) the Cure
Amount shall be no greater than the amount required for the purpose of minimally complying with Section 6.11(a), (b) or (c), (iv) upon the Agent’s receipt of a written notice that Intermediate Holdings intends to exercise the Cure Right,
together with a written irrevocable commitment from one or 

  
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more direct or indirect holders of Equity Interests of the Borrower to contribute the full Cure Amount necessary to cure the relevant failure to comply with Section 6.11(a), (b) or (c) (a
“Notice of Intent to Cure”), until the 10th Business Day following the date on which financial statements for the fiscal quarter to which such Notice of Intent to Cure relates are required to be delivered pursuant to
Section 5.01, neither the Agent (nor any sub-agent therefor) nor any Lender shall exercise any right to accelerate the Loans or terminate the Revolving Commitments, and none of the Agent (nor any sub-agent therefor) nor any Lender shall exercise any right to foreclose on or take possession of the Collateral or any other right or remedy under the Loan Documents, in each case, solely on the basis of the
relevant Event of Default under Section 7.01(d) as a result of the applicable breach of Section 6.11(a), (b) or (c); it being understood and agreed that (x) there shall be no borrowings of Revolving Loans permitted or letters of
credit issued or received hereunder and (y) an Event of Default under Section 7.01(d) as a result of the applicable breach of Section 6.11(a), (b) or (c) shall be deemed to have occurred and be continuing for all other purposes
of this Agreement, in each case until the Cure Amount has actually been received by the Borrower, and (v) during any applicable period in which any Cure Amount is included in the calculation of Consolidated Adjusted EBITDA as a result of any
exercise of the Cure Right, such Cure Amount shall be (A) counted solely as an increase to Consolidated Adjusted EBITDA (and not as a reduction of Indebtedness) for the purpose of determining compliance with Section 6.11(a), (b) or
(c) and (B) disregarded for all other purposes. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, fees or otherwise) shall not constitute a Cure Amount. 

SECTION 6.12. New Venues. No Loan Party shall, nor shall it permit any Restricted Subsidiary to, enter into a new Venue Agreement, or
be a party to any Venue Agreement which was entered into after the Effective Date, other than a Venue Agreement meeting the criteria set forth in the definition of a Permitted New Venue. 

SECTION 6.13. Permitted Activities of Intermediate Holdings. Intermediate Holdings shall not (a) incur, directly or indirectly,
any Indebtedness or any other obligation or liability whatsoever other than the Obligations and, to the extent permitted under this Agreement, Indebtedness permitted to be incurred by Intermediate Holdings under the Parent Organizational Agreement
as in effect on the Effective Date; (b) create or suffer to exist any Lien upon any property or assets now owned or hereafter acquired by it other than the Liens created under the Security Documents to which it is a party or permitted pursuant
to Section 6.02; (c) engage in any business or activity or own any assets other than (i) holding 100% of the Equity Interests of the Borrower; (ii) performing its obligations and activities incidental thereto under applicable Laws,
the Loan Documents, and to the extent not inconsistent therewith, the Parent Organizational Agreement; and (iii) making Restricted Payments and Investments to the extent permitted by this Agreement; (d) consolidate with or merge with or
into, or convey, transfer or lease all or substantially all its assets to, any Person; (e) sell or otherwise dispose of any Equity Interests of the Borrower; (f) create or acquire any Subsidiary or make or own any Investment in any Person
other than the Borrower or any other Subsidiary of the Borrower; or (g) fail to hold itself out to the public as a legal entity separate and distinct from all other Persons. 

  
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 SECTION 6.14. Amendments or Waivers of Certain Agreements. No Loan Party shall nor
shall it permit any of its Restricted Subsidiaries to, agree to any material amendment, restatement, supplement or other modification to, or waiver of, any of its material rights under the Parent Organizational Agreement or any “non-compete” or “non-solicit” provisions of any TAO Group Employment Agreement after the Effective Date without in each case obtaining the prior written
consent of the Administrative Agent (at the direction of the Required Lenders), in each case, if such amendment, restatement, supplement or other modification or waiver would be materially adverse to the Agent or the Lenders. 

SECTION 6.15. Amendments or Waivers with respect to Subordinated Indebtedness. No Loan Party shall, nor shall it permit any of its
Restricted Subsidiaries to, amend or otherwise change the terms of any Subordinated Indebtedness, or make any payment consistent with an amendment thereof or change thereto, if the effect of such amendment or change is to increase the interest rate
on such Subordinated Indebtedness, increase the principal amount thereof, change (to earlier dates) any dates upon which payments of principal or interest are due thereon, change any event of default or condition to an event of default with respect
thereto (other than to eliminate any such event of default or increase any grace period related thereto), change the redemption, prepayment or defeasance provisions thereof, change the subordination provisions of such Subordinated Indebtedness (or
of any guaranty thereof), or if the effect of such amendment or change, together with all other amendments or changes made, is to increase materially the obligations of the obligor thereunder or to confer any additional rights on the holders of such
Subordinated Indebtedness (or a trustee or other representative on their behalf) which would be materially adverse to any Loan Party or Lenders. 

SECTION 6.16. Deposit Accounts. Subject to Section 5.12, no Loan Party shall establish or maintain a Deposit Account (other than
Excluded Accounts, the Fifth Third Accounts or a Deposit Account outside the United States) that is not an account held with a Lender (or an Affiliate thereof) and no Loan Party will deposit proceeds in a Deposit Account (other than Excluded
Accounts, the Fifth Third Accounts or a Deposit Account outside the United States) that is not an account held with a Lender (or an Affiliate thereof). 

SECTION 6.17. Amendments to Organizational Agreements. No Loan Party shall, nor shall it permit any of its Restricted Parties to, amend
or permit any amendments to such Restricted Party’s organizational documents in any manner which would be adverse to the interests of the Lenders. 

ARTICLE VII 
 Events of Default

 SECTION 7.01. Events of Default. The occurrence of any one or more of the following events or conditions shall constitute an
“Event of Default”: 

  
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 (a) the Borrower shall fail to pay any principal on any Loan made to it hereunder or any
reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, whether at the due date thereof, at a date fixed for prepayment thereof, by acceleration thereof or otherwise; 

(b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in paragraph
(a) above) payable under this Agreement or any other Loan Document when and as the same shall become due and payable, and such failure shall continue unremedied for a period of three Business Days; 

(c) any representation or warranty made or deemed made by or on behalf of Intermediate Holdings or any Subsidiary thereof in or in connection
with this Agreement, any other Loan Document, or any amendment or modification hereof or thereof or waiver hereunder or thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this
Agreement, any other Loan Document, or any amendment or modification hereof or thereof or waiver hereunder or thereunder, shall prove to have been incorrect in any material respect when made, deemed made or furnished; 

(d) Intermediate Holdings or the Borrower shall fail to observe or perform any covenant, condition or agreement contained in

Section 5.02(a), Section 5.03 (with respect to Intermediate Holdings or the Borrower’s existence), Section 5.08 or Article VI (it being understood that (x) any breach of Section 6.11(a), (b) or (c) is subject
to cure as provided in Section 6.11(f) and (y) any breach of Section 6.11(e) is subject to cure as provided in the two provisos to Section 6.11(e)); 

(e) Intermediate Holdings or the Borrower shall fail to observe or perform any covenant, condition or agreement contained in this Agreement
(other than those specified in clause (a), (b) or (d) of this Article) or any other Loan Document, and such failure shall continue unremedied for a period of 30 days after notice thereof from the Agent to the Borrower (which notice will be
given at the request of any Lender); 
 (f) Intermediate Holdings or any Restricted Subsidiary shall fail to make any payment (whether of
principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable; 

(g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or
permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the
prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the
property or assets securing such Indebtedness; 

  
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 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) liquidation, reorganization or other relief in respect of Intermediate Holdings or any Restricted Subsidiary or its debts, or of a substantial part of its assets, under any federal, state or foreign bankruptcy, insolvency,
receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for Intermediate Holdings or any Restricted Subsidiary or for a substantial part of
its assets, and, in any such case, such proceeding or petition shall continue undismissed, not bonded or not discharged for 60 days or an order or decree approving or ordering any of the foregoing shall be entered, which order or decree is not
stayed; 
 (i) Intermediate Holdings or any Restricted Subsidiary shall (i) voluntarily commence any proceeding or file any petition
seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for Intermediate
Holdings or any Restricted Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of
creditors or (vi) take any action for the purpose of effecting any of the foregoing; 
 (j) Intermediate Holdings or any Restricted
Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as they become due; 
 (k) one or more
final and nonappealable judgments for the payment of money involving uninsured amounts in an aggregate amount in excess of $5,000,000 shall be rendered against Intermediate Holdings, any Restricted Subsidiary or any combination thereof and the same
shall remain undischarged for a period of 60 consecutive days during which execution shall not be effectively stayed, vacated or bonded, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of Intermediate
Holdings or any Restricted Subsidiary to enforce any such judgment; 
 (l) an ERISA Event shall have occurred that, when taken together with
all other ERISA Events that have occurred, could reasonably be expected to result in liability of Intermediate Holdings and its Restricted Subsidiaries in an aggregate amount exceeding $3,000,000 during the term hereof; 

(m) a Change of Control shall occur; or 

(n) any material provision of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly
permitted hereunder or thereunder or satisfaction in full of all Obligations (other than unmatured contingent indemnification and expense reimbursement obligations), ceases to be in full force and effect; or Intermediate Holdings, the Borrower or
any other Person contests in writing the 

  
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validity or enforceability of any provision of any Loan Document; or, prior to the Commitments having expired or terminated and satisfaction in full of all Obligations (other than unmatured
contingent indemnification and expense reimbursement obligations), Intermediate Holdings or the Borrower denies in writing that it has any or further liability or obligation under any Loan Document, or purports in writing to revoke, terminate or
rescind any Loan Document. 
 SECTION 7.02. Remedies Upon an Event of Default. If an Event of Default occurs (other than an event
with respect to Intermediate Holdings and/or the Borrower described in Sections 7.01(h) or 7.01(i)), and at any time thereafter during the continuance of such Event of Default, the Agent may with the consent of the Required Lenders, and shall at the
request of the Required Lenders, by notice to the Borrower, take any or all of the following actions, at the same or different times: 
 (a)
terminate the Commitments, and thereupon the Commitments shall terminate immediately; 
 (b) declare the Loans then outstanding to be due and
payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued
interest thereon and all fees and other obligations of the Borrower accrued hereunder and under any other Loan Document, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are
hereby waived by the Borrower; 
 (c) require that the Borrower provide cash collateral as required in Section 2.19(j); 

(d) exercise on behalf of itself, the Lenders and the Issuing Banks all rights and remedies available to it, the Lenders and the Issuing Banks
under the Loan Documents and applicable Law; and 
 (e) in addition to any other rights and remedies granted to the Agent and the Lenders in
the Loan Documents, exercise on behalf of itself and the Lenders all rights and remedies of a secured party under the UCC or any other applicable Law. Without limiting the generality of the foregoing, the Agent, without demand of performance or
other demand, presentment, protest, advertisement or notice of any kind (except any notice required by Law referred to below) to or upon any Loan Party or any other Person (all and each of which demands, defenses, advertisements and notices are
hereby waived by Intermediate Holdings on behalf of itself and its Restricted Subsidiaries), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, or consent to the use by any Loan
Party of any cash collateral arising in respect of the Collateral on such terms as the Agent deems reasonable, and/or may forthwith sell, lease, assign, give an option or options to purchase or otherwise dispose of and deliver, or acquire by credit
bid on behalf of the Lenders, the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the

  
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Agent or any Lender or elsewhere, upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery, all without
assumption of any credit risk. The Agent or any Lender shall have the right upon any such public sale or sales, and, to the extent permitted by Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold,
free of any right or equity of redemption in any Loan Party, which right or equity is hereby waived and released by Intermediate Holdings on behalf of itself and its Restricted Subsidiaries. Intermediate Holdings further agrees on behalf of itself
and its Restricted Subsidiaries, at the Agent’s request in connection with the foregoing, to assemble the Collateral and make it available to the Agent at places which the Agent shall reasonably select, whether at the premises of Intermediate
Holdings, the Borrower, another Loan Party or elsewhere. The Agent shall apply the net proceeds of any action taken by it pursuant to this Article VII, after deducting all reasonable costs and expenses of every kind incurred in connection therewith
or incidental to the care or safekeeping of any of the Collateral or in any other way relating to the Collateral or the rights of the Agent and the Lenders hereunder, including reasonable and documented attorneys’ fees and disbursements, to the
payment in whole or in part of the obligations of the Loan Parties under the Loan Documents, in such order as the Agent may elect, and only after such application and after the payment by the Agent of any other amount required by any provision of
Law, including Section 9-615(a)(3) of the UCC, need the Agent account for the surplus, if any, to any Loan Party. To the extent permitted by applicable Law, Intermediate Holdings on behalf of itself and
its Restricted Subsidiaries waives all claims, damages and demands it may acquire against the Agent or any Lender arising out of the exercise by them of any rights hereunder. If any notice of a proposed sale or other disposition of Collateral shall
be required by Law, such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition. 
 If
an Event of Default described in Sections 7.01(h) or 7.01(i) occurs with respect to Intermediate Holdings and/or the Borrower, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued
interest thereon and all fees and other obligations of Intermediate Holdings and the Borrower accrued hereunder and under any other Loan Document, including any break funding payment or prepayment premium, shall automatically become due and payable,
and the obligation of the Borrower to cash collateralize the LC Exposure as provided in clause (c) above shall automatically become effective, in each case, without presentment, demand, protest or other notice of any kind, all of which are
hereby waived by Intermediate Holdings and the Borrower. 
 SECTION 7.03. Application of Payments. Notwithstanding anything herein to
the contrary, following the occurrence and during the continuance of an Event of Default and notice thereof to the Agent by the Borrower or the Required Lenders: 

(a) all payments received on account of the Obligations shall, subject to Section 2.17, be applied by the Agent as follows: 

(i) first, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts
payable to the Agent (including reasonable and documented fees and disbursements and other charges of counsel to the Agent payable under Section 9.03 and amounts pursuant to Section 2.09(b) payable to the Agent in its capacity as such);

  
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 (ii) second, to payment of that portion of the Obligations
constituting fees, expenses, indemnities and other amounts (other than principal, reimbursement obligations in respect of LC Disbursements, interest and Letter of Credit fees and charges) payable to the Lenders and the Issuing Banks (including
reasonable and documented fees and disbursements and other charges of counsel to the Lenders and the Issuing Banks payable under Section 9.03) arising under the Loan Documents, ratably among them in proportion to the respective amounts
described in this clause (ii) payable to them; 
 (iii) third, to payment of that portion of the Obligations
constituting accrued and unpaid Letter of Credit fees and charges and interest on the Loans and unreimbursed LC Disbursements, ratably among the Lenders and the Issuing Banks in proportion to the respective amounts described in this
clause (iii) payable to them; 
 (iv) fourth, (A) to payment of that portion of the Obligations constituting
unpaid principal of the Loans and unreimbursed LC Disbursements and (B) to cash collateralize that portion of LC Exposure comprising the undrawn amount of Letters of Credit to the extent not otherwise cash collateralized by the Borrower
pursuant to Section 2.19(j), but solely to the extent required to be cash collateralized pursuant to Section 2.19(j), ratably among the Lenders and the Issuing Banks in proportion to the respective amounts described in this
clause (iv) payable to them; provided that (x) any such amounts applied pursuant to subclause (B) above shall be paid to the Administrative Agent for the ratable account of the applicable Issuing Banks to cash collateralize
Obligations in respect of Letters of Credit, (y) subject to Section 2.19, amounts used to cash collateralize the aggregate amount of Letters of Credit pursuant to this clause (iv) shall be used to satisfy drawings under such Letters
of Credit as they occur and (z) upon the expiration of any Letter of Credit (without any pending drawings), the pro rata share of cash collateral shall be distributed to the other Obligations, if any, in the order set forth in this
Section 7.03; 
 (v) fifth, to the payment in full of all other Obligations (other than unmatured contingent
indemnification and expense reimbursement obligations), in each case ratably among the Agent, the Lenders and the Issuing Banks based upon the respective aggregate amounts of all such Obligations owing to them in accordance with the respective
amounts thereof then due and payable; and 
 (vi) finally, the balance, if any, after all Obligations (other than
unmatured contingent indemnification and expense reimbursement obligations) have been paid in full, to the Borrower or as otherwise required by applicable Law; and 

  
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 (b) if any amount remains on deposit as cash collateral after all Letters of Credit have
either been fully drawn or expired (without any pending drawings), such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 

ARTICLE VIII 
 The Agent

 SECTION 8.01. Authorization and Action. (a) Each of the Lenders and each Issuing Bank hereby irrevocably appoints the
entity named as Agent in the heading of this Agreement and its successors to serve as administrative agent and collateral agent under the Loan Documents, and authorizes the Agent to take such actions and to exercise such powers as are delegated to
the Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. 
 (b)
Notwithstanding anything herein to the contrary, the Arrangers shall not have any duties or obligations under this Agreement or any other Loan Document (except in its capacity as a Lender or an Issuing Bank), but all such Persons shall have the
benefit of the indemnities provided for hereunder. 
 (c) The provisions of this Article are solely for the benefit of the Agent, the Lenders
and the Issuing Banks, and, except solely to the extent of the Borrower’s rights to consent pursuant to and subject to the conditions set forth in this Article, neither the Borrower nor any Affiliate thereof shall have any rights as a third
party beneficiary of any such provisions. Each Secured Party, whether or not a party hereto, will be deemed, by its acceptance of the benefits of the Collateral, to have agreed to the provisions of this Article. 

(d) The Agent may perform any of and all its duties and exercise its rights and powers hereunder or under any other Loan Document by or through
any one or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any of and all their duties and exercise their rights and powers through
their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Agent and any such
sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Agent. The Agent shall not be responsible for
the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that the Agent acted with gross negligence or willful
misconduct in the selection of, delegation to or supervision of such sub-agents. 
 SECTION 8.02.
Administrative Agent’s Reliance, Indemnification, Etc. (a) The Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents, and its duties hereunder shall be administrative in
nature. Without limiting the generality of the foregoing, (a) the Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing

  
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(and it is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) 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, and that such term is used as a matter of market custom and is intended to create or reflect only an administrative relationship
between contracting parties), (b) the Agent shall not have any duty to take any discretionary action or to exercise any discretionary power, except discretionary rights and powers expressly contemplated by the Loan Documents that the Agent is
required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Agent shall believe in good faith to be necessary, under the circumstances as provided in the
Loan Documents); provided that the Agent shall not be required to take any action that, in its opinion, could expose the Agent to liability or be contrary to any Loan Document or applicable Law, and (c) except as expressly set forth in
the Loan Documents, the Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to Intermediate Holdings, the Borrower, any Subsidiary thereof or any other Affiliate of the Borrower
that is communicated to or obtained by the Person serving as Agent or any of its Affiliates in any capacity. The Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such
other number or percentage of the Lenders as shall be necessary, or as the Agent shall believe in good faith to be necessary, under the circumstances as provided in the Loan Documents) or in the absence of its own gross negligence or willful
misconduct. The Agent shall be deemed not to have knowledge of any Default unless and until written notice describing such Default is given to the Agent by the Borrower, a Lender or an Issuing Bank, and the Agent shall not be responsible for or have
any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered thereunder or in connection
therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document or the occurrence of any Default, (iv) the sufficiency, validity, enforceability, effectiveness
or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article III or elsewhere in any Loan Document, other than to confirm receipt of items expressly
required to be delivered to the Agent. Notwithstanding anything herein to the contrary, the Agent shall not be liable for, or be responsible for any loss, cost or expense suffered by the Borrower, any Lender or any Issuing Bank as a result of, any
determination of any Exposure or the component amounts thereof. 
 (b) The Agent shall be entitled to rely, and shall not incur any liability
for relying, upon any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have
been signed, sent or otherwise authenticated by the proper Person. The Agent also shall be entitled to rely, and shall not incur any liability for relying, upon any statement made to it orally or by telephone and believed by it to be made by the
proper Person, and may act upon any such statement prior to receipt of written confirmation thereof. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be
fulfilled to the satisfaction of a Lender or an Issuing 

  
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Bank, the Agent may presume that such condition is satisfactory to such Lender or Issuing Bank unless the Agent shall have received notice to the contrary from such Lender or Issuing Bank
sufficiently in advance to the making of such Loan or the issuance of such Letter of Credit. The Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be
liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 
 SECTION 8.03.
Posting of Communications. (a) The Borrower agrees that the Agent may, but shall not be obligated to, make any Communications available to the Lenders and the Issuing Banks by posting the Communications on IntraLinksTM, DebtDomain,
SyndTrak, ClearPar or any other electronic platform chosen by the Agent to be its electronic transmission system (the “Platform”). 

(b) Although the Platform and its primary web portal are secured with generally-applicable security procedures and policies implemented or
modified by the Agent from time to time (including, as of the Effective Date, a user ID/password authorization system) and the Platform is secured through a per-deal authorization method whereby each user may
access the Platform only on a deal-by-deal basis, each of the Lenders, each of the Issuing Banks and the Borrower acknowledges and agrees that the distribution of
material through an electronic medium is not necessarily secure, that the Agent is not responsible for approving or vetting the representatives or contacts of any Lender or Issuing Bank that are added to the Platform, and that there may be
confidentiality and other risks associated with such distribution. Each of the Lenders, each of the Issuing Banks and the Borrower hereby approves distribution of the Communications through the Platform and understands and assumes the risks of such
distribution. 
 (c) THE PLATFORM AND THE COMMUNICATIONS ARE PROVIDED “AS IS” AND “AS AVAILABLE”. THE APPLICABLE PARTIES
(AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS, OR THE ADEQUACY OF THE PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS IN THE PLATFORM AND THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS,
IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY THE
APPLICABLE PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE AGENT, ANY ARRANGER OR ANY OF THEIR RESPECTIVE RELATED PARTIES (COLLECTIVELY, “APPLICABLE PARTIES”) HAVE ANY LIABILITY TO ANY LOAN
PARTY, ANY LENDER, ANY ISSUING BANK OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY KIND, INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY
LOAN PARTY’S OR THE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET OR THE PLATFORM. 

  
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 (d) Each Lender and each Issuing Bank agrees that notice to it (as provided in the next
sentence) specifying that Communications have been posted to the Platform shall constitute effective delivery of the Communications to such Lender or Issuing Bank for purposes of the Loan Documents. Each Lender and Issuing Bank agrees (i) to
notify the Agent in writing (which could be in the form of electronic communication) from time to time of such Lender’s or Issuing Bank’s (as applicable) email address to which the foregoing notice may be sent by electronic transmission
and (ii) that the foregoing notice may be sent to such email address. 
 (e) Each of the Lenders, each of the Issuing Banks and the
Borrower agrees that the Agent may, but (except as may be required by applicable Law) shall not be obligated to, store the Communications on the Platform in accordance with the Agent’s generally applicable document retention procedures and
policies. 
 (f) Nothing herein shall prejudice the right of the Agent, any Lender or any Issuing Bank to give any notice or other
communication pursuant to any Loan Document in any other manner specified in such Loan Document. 
 SECTION 8.04. The Agent
Individually. The Person serving as the Agent hereunder shall have the same rights and powers in its capacity as a Lender and Issuing Bank as any other Lender or Issuing Bank and may exercise the same as though it were not the Agent, and such
Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other
Affiliate thereof (including Intermediate Holdings) as if such Person were not the Agent hereunder and without any duty to account therefor to the Lenders or the Issuing Banks. 

SECTION 8.05. Successor Agent. (a) Subject to the terms of this paragraph, the Agent may resign at any time from its capacity as
such. In connection with such resignation, the Agent shall give notice of its intent to resign to the Lenders, the Issuing Banks and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, upon five
Business Days’ notice to the Borrower and, so long as no Event of Default has occurred and be continuing, written approval by the Borrower (not to be unreasonably withheld or delayed, and which consent shall be deemed granted if the Borrower
fails to respond within ten (10) Business Days of a request for approval or if such proposed successor is a Lender or an Affiliate of a Lender), to appoint a successor. If no successor shall have been so appointed by the Required Lenders and
shall have accepted such appointment within 30 days after the retiring Agent gives notice of its intent to resign, then the retiring Agent may, on behalf of the Lenders and the Issuing Banks, appoint a successor Agent, which shall be a bank
with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance by a successor of the appointment as Agent hereunder, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of
the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents. 

  
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 (b) The fees payable by the Borrower to a successor Agent shall be the same as those payable
to its predecessor unless otherwise agreed by the Borrower and such successor. Notwithstanding the foregoing, in the event no successor Agent shall have been so appointed and shall have accepted such appointment within 30 days after the
retiring Agent gives notice of its intent to resign, the retiring Agent may give notice of the effectiveness of its resignation to the Lenders, the Issuing Banks and the Borrower, whereupon, on the date of effectiveness of such resignation stated in
such notice, (i) the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents; provided that, solely for purposes of maintaining any security interest granted to the Agent under any
Security Document for the benefit of the Secured Parties, the retiring Agent shall continue to be vested with such security interest as collateral agent for the benefit of the Secured Parties and, in the case of any Collateral in the possession of
the Agent, shall continue to hold such Collateral, in each case until such time as a successor Agent is appointed and accepts such appointment in accordance with this paragraph (it being understood and agreed that the retiring Agent shall have no
duty or obligation to take any further action under any Security Document, including any action required to maintain the perfection of any such security interest), and (ii) the Required Lenders shall succeed to and become vested with all the
rights, powers, privileges and duties of the retiring Agent; provided that (A) all payments required to be made hereunder or under any other Loan Document to the Agent for the account of any Person other than the Agent shall be made
directly to such Person and (B) all notices and other communications required or contemplated to be given or made to the Agent shall also directly be given or made to each Lender and each Issuing Bank. Following the effectiveness of the
Agent’s resignation from its capacity as such, the provisions of this Article and Section 9.03, as well as any exculpatory, reimbursement and indemnification provisions set forth in any other Loan Document, shall continue in effect for the
benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Agent and in respect of the
matters referred to in the proviso under clause (i) above. 
 SECTION 8.06. Acknowledgment of Lenders and Issuing Banks. (a)Each
Lender and each Issuing Bank acknowledges that it has, independently and without reliance upon the Agent, the Arrangers, any other Lender or any other Issuing Bank, or any of the Related Parties of any of the foregoing, and based on such documents
and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and each Issuing Bank also acknowledges that it will, independently and without reliance upon the Agent, the Arrangers,
any other Lender or any other Issuing Bank, or any of the Related Parties of any of the foregoing, and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking
action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

  
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 (b) Each Lender, by delivering its signature page to this Agreement and funding its Loans on
the Effective Date, or delivering its signature page to an Assignment and Assumption or any other Loan Document pursuant to which it shall become a Lender hereunder, shall be deemed to have acknowledged receipt of, and consented to and approved,
each Loan Document and each other document required to be delivered to, or be approved by or satisfactory to, the Agent or the Lenders on the Effective Date. 

SECTION 8.07. Collateral Matters. (a) Except with respect to the exercise of setoff rights of any Lender or Issuing Bank in
accordance with Section 9.08 or with respect to a Lender’s or Issuing Bank’s right to file a proof of claim in an insolvency proceeding, no Secured Party shall have any right individually to realize upon any of the Collateral or to
enforce any Guarantee of the Obligations, it being understood and agreed that all powers, rights and remedies under the Loan Documents may be exercised solely by the Agent on behalf of the Secured Parties in accordance with the terms thereof. In the
event of a foreclosure by the Agent on any of the Collateral pursuant to a public or private sale or other disposition, the Agent or any Lender may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition,
and the Agent, as agent for and representative of the Secured Parties (but not any Lender or Lenders in its or their respective individual capacities unless the Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose of
bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Obligations as a credit on account of the purchase price for any collateral payable by
the Agent on behalf of the Secured Parties at such sale or other disposition. 
 (b) In case of the pendency of any proceeding with respect
to the Borrower under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, the Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by
declaration or otherwise and irrespective of whether the Agent shall have made any demand on the Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise: 

(i) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, LC
Disbursements and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the Issuing Banks and the Agent (including any claim under Sections 2.09,
2.10, 2.12, 2.13, 2.14 and 9.03) allowed in such judicial proceeding; and 
 (ii) to collect and receive any monies or other
property payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or other similar official in any such proceeding is hereby authorized by each Lender, each Issuing Bank and each other Secured Party to make such payments to the Agent 

  
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and, in the event that the Agent shall consent to the making of such payments directly to the Lenders, the Issuing Banks or the other Secured Parties, to pay to the Agent any amount due to it, in
its capacity as the Agent, under the Loan Documents (including under Section 9.03). 
 (c) Each Lender, each Issuing Bank and each of
the other Secured Parties irrevocably authorizes the Agent and the Collateral Agent to, and the Agent, the Collateral Agent, each Lender, each Issuing Bank and each of the other Secured Parties each hereby irrevocably agrees with the Borrower to,
automatically release any Lien on any Collateral and any other property granted to or held by the Agent or the Collateral Agent under any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations
(other than unmatured contingent indemnification and expense reimbursement obligations), (ii) that is the subject of a Disposition or other transfer permitted under and accomplished in accordance with the terms of the Loan Documents,
(iii) if approved, authorized or ratified in writing in accordance with Section 9.02(b) or (iv) to the extent that the property constituting such Collateral is owned by any Guarantor Subsidiary, upon the release of such Guarantor
Subsidiary from its obligations under the Security Agreement in accordance clause (d) below. Upon request by the Borrower or the Agent at any time, the Required Lenders will confirm in writing the Agent’s authority to release its
interest in any Guarantor Subsidiary or particular types or items of property pursuant to this Article VIII. In each case as specified in this Article VIII, the Agent will, at the Borrower’s expense (and the Lenders and Issuing Banks hereby
authorize the Agent to), execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such Guarantor Subsidiary or item of Collateral from the assignment and security interest
granted under the Loan Documents in accordance with the terms of the Loan Documents and this Article VIII, all without the further consent or joinder of any Lender or Issuing Bank. 

(d) In addition, the Lenders and Issuing Banks hereby irrevocably agree that any Guarantor Subsidiary shall be automatically released from the
guaranty under the Security Agreement upon consummation of any transaction not prohibited hereunder resulting in such Guarantor Subsidiary ceasing to constitute a Subsidiary of Intermediate Holdings or otherwise becoming an Immaterial Subsidiary.

 SECTION 8.08. Certain ERISA Matters. (a) Each Lender (x) represents and warrants, as of the date such Person became a
Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Agent, the Arrangers and their respective Affiliates, and
not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: 

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

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

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

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

 (c) The Agent and the Arrangers hereby inform the Lenders that each such Person is not undertaking to provide investment advice or to give
advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest
or other payments with respect to the Loans, the Letters of Credit, the Commitments, this Agreement and any other Loan Documents, (ii) may recognize a gain if it extended the Loans or the Commitments for an

  
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amount less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with
the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent
fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or
fees similar to the foregoing. 
 ARTICLE IX 

Miscellaneous 
 SECTION
9.01. Notices. (a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph (b) of this Section), all notices and other communications provided for herein shall be
in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile, as follows: 

(i) if to the Borrower, to it at c/o Tao Group Holdings LLC, 1350 Avenue of the Americas, Suite 710, New York, NY 10019,
Attention of Co-President, with a copy to (A) The Madison Square Garden Company, Two Pennsylvania Plaza, New York, NY 10121, Attention of General Counsel, and (B) Hughes Hubbard & Reed LLP,
One Battery Park Plaza, New York, NY 10004, Attention of Steven J. Greene (E-mail: steven.greene@hugheshubbard.com; Facsimile No. (212) 299-6270); 

(ii) if to the Agent or the Collateral Agent to JPMorgan Chase Bank, N.A., Ops 2, Floor 3, 500 Stanton Christiana Rd., Newark,
DE 19713, Attention of Eugene Tull (E-mail: 12012443629@tls.ldsprod.com; Facsimile No. (302) 634-5881), with a copy to JPMorgan Chase Bank, N.A., 270 Park Avenue, 43rd
Floor, New York, New York 10017, Attention of Thomas J. Cox (E-mail: Thomas.J.Cox@jpmorgan.com; Facsimile No. (646) 534-0696); and 

(iii) if to any other Lender or any other Issuing Bank, to it at its address (or facsimile number) set forth in its
Administrative Questionnaire. 
 Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be
deemed to have been given when received; notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business
on the next business day for the recipient); and notices delivered through electronic communications to the extent provided in paragraph (b) of this Section shall be effective as provided in such paragraph. 

  
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 (b) Notices and other communications to the Lenders and the Issuing Banks hereunder may be
delivered or furnished by electronic communications (including email and Internet and intranet websites) pursuant to procedures approved by the Agent; provided that the foregoing shall not apply to notices under Article II to any Lender
if such Lender has notified the Agent that it is incapable of receiving notices under such Article by electronic communication. Any notices or other communications to the Agent or the Borrower may be delivered or furnished by electronic
communications pursuant to procedures approved by the recipient thereof prior thereto; provided that approval of such procedures may be limited or rescinded by any such Person by notice to each other such Person. 

(c) Any party hereto may change its address or facsimile number for notices and other communications hereunder by notice to the other parties
hereto. 
 SECTION 9.02. Waivers; Amendments. (a)No failure or delay by the Agent, any Issuing Bank or any Lender in exercising any
right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Agent, the Issuing Banks and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of
any rights or remedies that they would otherwise have. No waiver of any provision of any Loan Document or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of
this Section, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. Without limiting the generality of the foregoing, neither the execution and delivery of this Agreement nor
the making of a Loan or issuance of a Letter of Credit shall be construed as a waiver of any Default, regardless of whether the Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default at the time. 

(b) Except as provided in Sections 2.11, 2.18 and 9.02(c), none of this Agreement, any other Loan Document or any provision hereof or thereof
may be waived, amended or modified except, in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by Intermediate Holdings, the Borrower, the Agent and the Required Lenders and, in the case of any other Loan
Document, pursuant to an agreement or agreements in writing entered into by the Agent and the Person or Persons that are parties thereto, in each case with the consent of the Required Lenders; provided that (i) any provision of this
Agreement or any other Loan Document may be amended by an agreement in writing entered into by the Borrower and the Agent to cure any ambiguity, omission, defect or inconsistency so long as, in each case, (A) such amendment does not adversely
affect the rights of any Lender or (B) the Lenders shall have received at least five (5) Business Days’ prior written notice thereof and the Agent shall not have received, within five (5) Business Days of the date of such notice
to the Lenders, a written notice from the Required Lenders stating that the Required Lenders object to such amendment, and (ii) no such agreement shall (A) waive any condition set forth in Section 3.02 without the written consent of
the Required Revolving Lenders (it being understood and agreed that any amendment or waiver of, or any consent with respect to, any provision of this Agreement (other than any waiver expressly relating to

  
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Section 3.02) or any other Loan Document, including any amendment of any affirmative or negative covenant set forth herein or in any other Loan Document or any waiver of a Default or an
Event of Default, shall not be deemed to be a waiver of any condition set forth in Section 3.02), (B) increase the Commitment of any Lender without the written consent of such Lender, (C) reduce the principal amount of any Loan or
unreimbursed LC Disbursement or reduce the rate of interest thereon or reduce any Fees payable hereunder, without the written consent of each Lender affected thereby, (D) postpone the scheduled maturity date of any Loan or unreimbursed LC
Disbursement, or any date for the payment of any interest or Fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each
Lender affected thereby, (E) change Section 2.15(b) or 2.15(c) in a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender, (F) change any of the provisions of this
Section or the percentage set forth in the definition of the term “Required Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders required to waive, amend or modify any rights thereunder
or make any determination or grant any consent thereunder, without the written consent of each Lender (or in the case of the definition of the term “Required Revolving Lenders” and any other provision of any Loan Document specifying the
number or percentage of Revolving Lenders required to waive, amend or modify any rights thereunder or make any determination or grant any consent thereunder, without the written consent of each Revolving Lender), (G) release all or substantially all
of the Collateral from the Liens of the Security Agreement without the written consent of each Lender (except as expressly provided in the applicable Security Document (including any such release by the Agent in connection with any sale or other
disposition of the Collateral upon the exercise of remedies under the Security Agreement), it being understood that an amendment or other modification of the type of obligations secured by the Security Agreement shall not be deemed to be a release
of Collateral from the Liens of the Security Agreement), (H) amend, modify, extend or otherwise affect the rights or obligations of the Agent or the Issuing Banks without the prior written consent of the Agent or the Issuing Banks, as the case may
be, (I) release Intermediate Holdings as a Guarantor or all or substantially all of the Guarantor Subsidiaries as Guarantors under the Security Agreement, in each case, without the written consent of each Lender, (J) change
Section 7.03 in a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender adversely affected thereby or (K) amend or modify the provisions of Section 2.19 or any letter of
credit application and any bilateral agreement between the Borrower and an Issuing Bank regarding the respective rights and obligations between the Borrower and an Issuing Bank in connection with the issuance of Letters of Credit without the prior
written consent of the Agent and such Issuing Bank, respectively. Notwithstanding the foregoing, no consent with respect to any amendment, waiver or other modification of this Agreement or any other Loan Document shall be required (x) of any
Defaulting Lender, except with respect to any amendment, waiver or other modification referred to in clause (B), (C) or (D) of clause (ii) of the first proviso of this paragraph and then only in the event such Defaulting Lender shall be
affected by such amendment, waiver or other modification or (y) in the case of any amendment, waiver or other modification referred to in clause (ii) of the first proviso of this paragraph, any

  
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Lender that receives payment in full of the principal of and interest accrued on each Loan made by, and all other amounts owing to, such Lender or accrued for the account of such Lender under
this Agreement and the other Loan Documents at the time such amendment, waiver or other modification becomes effective and whose Commitments terminate by the terms and upon the effectiveness of such amendment, waiver or other modification. 

(c) The Agent may, but shall have no obligation to, with the concurrence of any Lender, execute amendments, waivers or other modifications on
behalf of such Lender. Any amendment, waiver or other modification effected in accordance with this Section 9.02 shall be binding upon each Person that is at the time thereof a Lender and each Person that subsequently becomes a Lender. 

SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Agent, the Collateral Agent, the Arrangers and each of their Affiliates, including the reasonable and documented fees, charges and
disbursements of counsel for any of the foregoing, in connection with the structuring, arrangement and syndication of the credit facilities provided for herein, including the preparation, execution and delivery of the Agent Fee Letter, as well as
the preparation, execution, delivery and administration of this Agreement, the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall
be consummated), (ii) all reasonable out-of-pocket expenses incurred by any Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter
of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Agent, the Arrangers, any Issuing Bank or any Lender, including
the reasonable and documented fees, charges and disbursements of any counsel for any of the foregoing, in connection with the enforcement or protection of its rights in connection with the Loan Documents, including its rights under this Section, or
in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit. 
 (b) The Borrower shall indemnify the Agent (and any sub-agent thereof), the Arrangers, each Issuing Bank, each Lender and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”), against, and hold each
Indemnitee harmless from, any and all losses, claims, damages, penalties, liabilities and related expenses, including the reasonable and documented fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against
any Indemnitee by any third party or by the Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the structuring, arrangement and the syndication of the credit facilities provided for herein, the
preparation, execution, delivery and administration of the Agent Fee Letter, this Agreement, the other Loan Documents or any other agreement or instrument contemplated hereby or thereby, the performance by the parties to the Agent Fee Letter, this
Agreement or the other Loan Documents of their obligations thereunder or the consummation of the transactions contemplated thereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any

  
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refusal by an Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of
Credit) or (iii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and whether initiated against or by any party to the Agent Fee
Letter, this Agreement or any other Loan Document, any Affiliate of any of the foregoing or any third party (and regardless of whether any Indemnitee is a party thereto); provided that such indemnity shall not, as to any Indemnitee, be
available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence, bad faith or willful
misconduct of such Indemnitee or any of its Related Parties. This paragraph shall not apply with respect to Taxes other than any Taxes that represent losses, claims or damages arising from any non-Tax claim.

 (c) To the extent that the Borrower fails to indefeasibly pay any amount required to be paid by it under paragraph (a) or (b) of this
Section to the Agent (or any sub-agent thereof) or any Related Party of the Agent (and without limiting its obligation to do so), each Lender and each Issuing Bank severally agrees to pay to the Agent (or
any such sub-agent) or such Related Party, as the case may be, such Lender’s or such Issuing Bank’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity
payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against Agent (or such sub-agent) in its capacity as such, or against any Related Party of the Agent acting for the Agent (or any such sub-agent) in connection with such capacity. For purposes of
this Section, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the Aggregate Exposures and unused Commitments, in each case, at the time (or most recently outstanding and in effect). 

(d) To the fullest extent permitted by applicable Law, the Borrower shall not assert, or permit any of its Affiliates or Related Parties to
assert, and each hereby waives, any claim against any Indemnitee (i) for any damages arising from the use by others of information or other materials obtained through telecommunications, electronic or other information transmission systems
(including the Internet), or (ii) on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof, except to the extent such damages under clause (i) are determined by a court of competent
jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of any Indemnitee. 

(e) All amounts due under this Section shall be payable not later than 30 days after written demand therefor. 

  
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 SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of an Issuing Bank that issues any Letter of Credit), except that (i) the Borrower may not
assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Agent and each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and
(ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties
hereto, their respective successors and assigns permitted hereby (including any Affiliate of an Issuing Bank that issues any Letter of Credit), the Collateral Agent, the Lenders, Participants (only to the extent provided in paragraph (c) of
this Section), the Issuing Banks, the Arrangers and, to the extent expressly contemplated hereby, the sub-agents of the Agent and the Related Parties of any of the Agent, the Arrangers, the Issuing Banks and
any Lender) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 (b) (i)Subject to the conditions set forth
in paragraph (b)(ii) below, any Lender may assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment, participations in Letters of Credit and the Loans
at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld) of: 
 (A) the Borrower;
provided that no consent of the Borrower shall be required (1) for an assignment to a Lender, an Affiliate of a Lender or an Approved Fund and (2) if an Event of Default has occurred and is continuing, for any other assignment; 

(B) the Agent; and 

(C) each Issuing Bank. 

(ii) Assignments shall be subject to the following additional conditions: 

(A) except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or an assignment of the
entire remaining amount of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such
assignment is delivered to the Agent) shall not be less than $5,000,000 unless each of the Borrower and the Agent otherwise consents; provided that no such consent of the Borrower shall be required if an Event of Default has occurred and is
continuing; 
 (B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning
Lender’s rights and obligations under this Agreement; 

  
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 (C) the parties to each assignment shall execute and deliver to the Agent an
Assignment and Assumption (or an agreement incorporating by reference a form of Assignment and Assumption posted on the Platform), together with a processing and recordation fee of $3,500; provided that only one such processing and
recordation fee shall be payable in the event of simultaneous assignments from any Lender or its Approved Funds to one or more other Approved Funds of such Lender; and 

(D) the assignee, if it shall not be a Lender, shall deliver to the Agent an Administrative Questionnaire in which the assignee
designates one or more credit contacts to whom all syndicate-level information (which may contain MNPI) will be made available and who may receive such information in accordance with the assignee’s compliance procedures and applicable Law,
including Federal, State and foreign securities laws. 
 (iii) Subject to acceptance and recording thereof pursuant to
paragraph (b)(v) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have
the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case
of an Assignment and Assumption covering all the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.12, 2.13, 2.14
and 9.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with Section 9.04(c). 
 (iv) The Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and records of the names and addresses of the Lenders, and the Commitment of, and
principal amount (and stated interest) of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error,
and the Borrower, the Agent, the Issuing Banks and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the
contrary. The Register shall be available for inspection by the Borrower and, as to entries pertaining to it, any Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

  
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 (v) Upon receipt by the Agent of an Assignment and Assumption (or an
agreement incorporating by reference a form of Assignment and Assumption posted on the Platform) executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a
Lender hereunder) and the processing and recordation fee referred to in this Section, the Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that the Agent shall not be
required to accept such Assignment and Assumption or so record the information contained therein if the Agent reasonably believes that such Assignment and Assumption lacks any written consent required by this Section or is otherwise not in proper
form, it being acknowledged that the Agent shall have no duty or obligation (and shall incur no liability) with respect to obtaining (or confirming the receipt) of any such written consent or with respect to the form of (or any defect in) such
Assignment and Assumption, any such duty and obligation being solely with the assigning Lender and the assignee. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this
paragraph, and following such recording, unless otherwise determined by the Agent (such determination to be made in the sole discretion of the Agent, which determination may be conditioned on the consent of the assigning Lender and the assignee),
shall be effective notwithstanding any defect in the Assignment and Assumption relating thereto. Each assigning Lender and the assignee, by its execution and delivery of an Assignment and Assumption, shall be deemed to have represented to the Agent
that all written consents required by this Section with respect thereto (other than the consent of the Agent) have been obtained and that such Assignment and Assumption is otherwise duly completed and in proper form, and each assignee, by its
execution and delivery of an Assignment and Assumption, shall be deemed to have represented to the assigning Lender and the Agent that such assignee is an Eligible Assignee. 

(c) (i) Any Lender may, without the consent of or notice to the Borrower, the Agent or the Issuing Banks, sell participations to one or
more Eligible Assignees (“Participants”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitments and Loans); provided that (A) such
Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower, the Agent, the Issuing Banks
and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement or any other Loan Document; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such Participant or requires the approval of
all the Lenders. Intermediate Holdings and the Borrower agree that each Participant shall be entitled to the benefits of Sections 2.12, 2.13 and 2.14 (subject to the requirements and limitations therein, including the requirements under
Section 2.14(f) (it being understood that the documentation required under Section 2.14(f) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to
paragraph (b) 

  
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of this Section; provided that such Participant (x) agrees to be subject to the provisions of Sections 2.15 and 2.16 as if it were an assignee under paragraph (b) of this Section
and (y) shall not be entitled to receive any greater payment under Section 2.12 or 2.14, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive
a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate
with the Borrower to effectuate the provisions of Section 2.16(b) with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender;
provided that such Participant agrees to be subject to Section 2.15(c) as though it were a Lender. 
 (ii) Each
Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the
principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement or any other Loan Document (the “Participant Register”); provided that no Lender shall have
any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Letters of Credit or other obligations under this
Agreement or any other Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Letter of Credit or other obligation is in registered form under
Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is
recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Agent (in its capacity as Agent) shall have no responsibility for
maintaining any Participant Register. 
 (d) Any Lender may at any time pledge or assign a security interest in all or any portion of its
rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest;
provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the Borrower in the Loan Documents and in the
certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan
Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Agent, the Arrangers, any Issuing Bank, any Lender or any
Affiliate of any of the foregoing may have had 

  
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notice or knowledge of any Default or incorrect representation or warranty at the time any Loan Document is executed and delivered or any credit is extended hereunder, and shall continue in full
force and effect as long as the principal of or any accrued interest on any Loan or any Fee or any other amount payable under this Agreement is outstanding and unpaid (other than unmatured contingent indemnification and expense reimbursement
obligations) or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections 2.12, 2.13, 2.14, 2.15(e), 9.03, 9.12 and 9.14 and Article VIII shall survive and remain in full
force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement or any provision
hereof. 
 SECTION 9.06. Counterparts; Integration; Effectiveness; Electronic Execution. (a)This Agreement may be executed in
counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents and any
separate letter agreements with respect to fees payable to the Agent or the Arrangers constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or
written, relating to the subject matter hereof. Except as provided in Section 3.01, this Agreement shall become effective when it shall have been executed by the Agent and the Agent shall have received counterparts hereof that, when taken
together, bear the signatures of all the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page
of this Agreement by facsimile, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement. 

(b) The words “execution”, “signed”, “signature”, “delivery” and words of like import in or relating to
any document to be signed in connection with this Agreement or any other Loan Document and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which
shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that nothing
herein shall require the Agent to accept electronic signatures in any form or format without its prior written consent. 
 SECTION 9.07.
Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting
the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

  
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 SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender, each Issuing Bank and each Affiliate of any Lender or Issuing Bank, is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable Law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final, in whatever currency) or other amounts at any time held and other obligations (in whatever currency) at any time owing by such Lender, by such Issuing Bank or by such an Affiliate, to or for
the credit or the account of the Borrower against any of and all the obligations of the Borrower now or hereafter existing under this Agreement held by such Lender or such Issuing Bank, irrespective of whether or not such Lender or such Issuing Bank
shall have made any demand under this Agreement and although such obligations of the Borrower are not yet due or are owed to a branch, office or Affiliate of such Lender or such Issuing Bank different from the branch, office or Affiliate holding
such deposit or obligated on such indebtedness. The rights of each Lender, each Issuing Bank and each Affiliate of any Lender or Issuing Bank under this Section are in addition to other rights and remedies (including other rights of setoff)
that such Lender, Issuing Bank or Affiliate may have. Each Lender and each Issuing Bank agrees to notify the Borrower and the Agent promptly after any such setoff and application; provided that the failure to give notice shall not affect the
validity of such setoff and application. 
 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a)This
Agreement shall be governed by, and construed in accordance with, the law of the State of New York. 
 (b) Each party hereto hereby
irrevocably and unconditionally submits, for itself and its property, to the jurisdiction of the United States District Court for the Southern District of New York sitting in the Borough of Manhattan (or if such court lacks subject matter
jurisdiction, the Supreme Court of the State of New York sitting in the Borough of Manhattan), and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Document or the
transactions relating hereto or thereto, or for recognition or enforcement of any judgment, and each party hereto hereby irrevocably and unconditionally agrees that all claims arising out of or relating to this Agreement or any other Loan Document
brought by it shall be brought, and shall be heard and determined, exclusively in such Federal (to the extent permitted by law) or New York State court. Each party hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or in any other Loan Document shall affect any right that any Agent, any Issuing Bank or any Lender may
otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against the Borrower or any of its properties in the courts of any jurisdiction. 

(c) Each party hereto hereby irrevocably and unconditionally waives, to the fullest extent permitted by law, any objection that it may now or
hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

  
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 (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01. Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).
EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

SECTION 9.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 9.12. Confidentiality. Each of the Agent, the Issuing Banks and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its Related Parties, including accountants, legal counsel and other agents and advisors, on a need to know basis (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent required or requested by any Governmental Authority purporting to have jurisdiction over
such Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable Law or by any subpoena or similar legal process, (d) to any
other party to this Agreement, (e) in connection with the exercise of any remedies under this Agreement or any other Loan Document or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of
rights hereunder or thereunder, (f) subject to an agreement containing confidentiality undertakings substantially similar to those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in,
any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its Related Parties) to any swap or derivative transaction relating to the Borrower or any Subsidiary of the Borrower and its obligations,
in each case, other than any Disqualified 

  
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Person, (g) with the written consent of the Borrower or (h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section or
(ii) becomes available to the Agent, any Issuing Bank, any Lender or any Affiliate of any of the foregoing on a nonconfidential basis from a source other than the Borrower. For purposes of this Section, “Information” means all
information received from or on behalf of the Borrower relating to Intermediate Holdings, the Borrower or any Subsidiary of the Borrower or their respective businesses, other than (i) any such information that is available to the Agent, any
Issuing Bank or any Lender on a nonconfidential basis prior to disclosure by the Borrower and (ii) information pertaining to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve
the lending industry. Each of the Agent, the Collateral Agent, each Issuing Bank and each Lender acknowledges and agrees that (1) the Information may include material non-public information concerning the
Borrower, (2) it has developed compliance procedures regarding the use of material non-public information and (3) it will handle such material non-public
information in accordance with applicable Law, including United States Federal and state securities laws. It is agreed that, notwithstanding the restrictions of any prior confidentiality agreement binding on the Arrangers or the Agent, such parties
may disclose Information as provided in this Section 9.12. 
 SECTION 9.13. Interest Rate Limitation. Notwithstanding anything
herein to the contrary, if at any time the interest rate applicable to any Loan, together with all Fees, charges and other amounts that are treated as interest on such Loan under applicable Law (collectively the “Charges”), shall
exceed the maximum lawful rate (the “Maximum Rate”) that may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable Law, the rate of interest payable in respect of such
Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate. 
 SECTION 9.14. Certain
Notices. Each Lender and the Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the Patriot Act and/or the Beneficial Ownership Regulation it is required to obtain, verify and
record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Agent, as applicable, to identify the Borrower in accordance with the Patriot
Act and the Beneficial Ownership Regulation. The Borrower shall provide such information and take such actions as are reasonably requested by the Agent or any Lender in order to assist the Agent and the Lenders in maintaining compliance with the
Patriot Act and the Beneficial Ownership Regulation. 
 SECTION 9.15. No Fiduciary Relationship. The Borrower, on behalf of itself
and its Subsidiaries, agrees that in connection with all aspects of the transactions contemplated hereby and any communications in connection therewith, the Borrower, the Subsidiaries of the Borrower and their Affiliates, on the one hand, and the
Agent, the Lenders, the Issuing Banks and their Affiliates, on the other hand, will have a business relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the Agent, the Lenders, the Issuing Banks or their
Affiliates, and no such duty will be deemed to have arisen in connection with any such transactions or communications. 

  
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The Agent, the Arrangers, the Lenders, the Issuing Banks and their Affiliates may be engaged, for their own accounts or the accounts of customers, in a broad range of transactions that involve
interests that differ from those of the Borrower and its Affiliates, and none of the Agent, the Arrangers, the Lenders, the Issuing Banks or their Affiliates has any obligation to disclose any of such interests to the Borrower or any of its
Affiliates. 
 SECTION 9.16. Non-Public Information. (a)Each Lender acknowledges that all
information, including requests for waivers and amendments, furnished by the Borrower or the Agent pursuant to or in connection with, or in the course of administering, this Agreement will be syndicate-level information, which may contain MNPI. Each
Lender represents to the Borrower and the Agent that (i) it has developed compliance procedures regarding the use of MNPI and that it will handle MNPI in accordance with such procedures and applicable Law, including Federal, state and foreign
securities laws, and (ii) it has identified in its Administrative Questionnaire a credit contact who may receive information that may contain MNPI in accordance with its compliance procedures and applicable Law, including Federal and state
securities laws. 
 (b) The Borrower and each Lender acknowledges that, if information furnished by the Borrower pursuant to or in connection
with this Agreement is being distributed by the Agent through the Platform, (i) the Agent shall post any information that the Borrower has indicated as containing MNPI solely on that portion of the Platform designated for Private Side Lender
Representatives and (ii) if the Borrower has not indicated whether any information furnished by it pursuant to or in connection with this Agreement contains MNPI, the Agent reserves the right to post such information solely on that portion of
the Platform designated for Private Side Lender Representatives. At the request of the Agent, the Borrower will identify all information provided to the Agent by or on behalf of Intermediate Holdings or the Borrower that is suitable to be made
available to Public Side Lender Representatives by clearly marking the same as “PUBLIC” (it being understand and agreed that the Borrower shall not otherwise be under any obligation to mark information as “PUBLIC”),
and the Agent shall be entitled to rely on any such marking by the Borrower without liability or responsibility for the independent verification thereof. 

SECTION 9.17. Acknowledgement and Consent to Bail-In of EEA Financial Institutions.
Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any party hereto, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan
Document may be subject to the Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

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

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

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability
under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in connection with
the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority. 
 SECTION 9.18. Obligations of the Loan Parties
Only. Anything herein or in any other Loan Document to the contrary notwithstanding, the liabilities and obligations of the Loan Parties under this Agreement and the other Loan Documents, and any certificate, notice, instrument or document
delivered pursuant hereto or thereto, are liabilities and obligations solely of the Loan Parties and do not constitute a debt, liability or obligation of (and no direct recourse shall be had with respect thereto to) (a) any MSG Company,
(b) any TAO Group Principal, (c) any direct or indirect shareholder, member, partner of other holder of Equity Interests of Intermediate Holdings or any MSG Company (unless such Person is a Loan Party), or (d) any officer, director,
employee, agent or advisor of any Loan Party or any MSG Company. 
 SECTION 9.19. Acknowledgment Regarding any Supported QFCs. (a)To
the extent that the Loan Documents provide support, through a guarantee or otherwise, for Swap Agreements or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a “Supported
QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan
Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 

(b) In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding
under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing
such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported

  
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QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered
Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be
exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the
United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with
respect to a Supported QFC or any QFC Credit Support. 
 [Remainder of page left intentionally blank] 

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

			
	TAO GROUP OPERATING LLC, as
Borrower,
		
	    by	 	/s/ Noah Tepperberg
		 	Name: Noah Tepperberg
		 	Title: Co-President
	
	TAO GROUP INTERMEDIATE
HOLDINGS LLC, as Intermediate
Holdings,
		
	    by	 	/s/ Noah Tepperberg
		 	Name: Noah Tepperberg
		 	Title: Co-President

 
			
	JPMORGAN CHASE BANK, N.A.,
individually and as Agent,
		
	by	 	/s/ Anthony Galea
		 	Name: Anthony Galea
		 	Title: Executive Director

 
					
	Name of Institution:	 	U.S. Bank National Association
			
	        	 	by	 	/s/ Salvatore Settineri
		 		 	Name: Salvatore Settineri
		 		 	Title: SVP

 
					
	Name of Institution:	 	TD Bank, N.A.
			
	        	 	by	 	/s/ Antonina Linteris
		 		 	Name: Antonina Linteris
		 		 	Title: VP

 
					
	Name of Institution:	 	Fifth Third Bank
			
	        	 	by	 	/s/ Brook Miller
		 		 	Name: Brook Miller
		 		 	Title: Director

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