Document:

EX-10.2

 Exhibit 10.2 

GUARANTEE AND COLLATERAL AGREEMENT 

dated as of 
 June 1, 2015 

among 
 PPL ENERGY SUPPLY, LLC,

 the Subsidiaries of the Borrower 

from time to time party hereto 

and 
 CITIBANK, N.A., 

as Collateral Trustee 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
	
	ARTICLE I.	  
	
	Definitions	  
			
	 SECTION 1.01.
	  	 Intercreditor Agreement and Credit Agreement
	  	 	2	  
	 SECTION 1.02.
	  	 Other Defined Terms
	  	 	2	  
	
	ARTICLE II.	  
	
	Guarantee	  
			
	 SECTION 2.01.
	  	 Guarantee
	  	 	5	  
	 SECTION 2.02.
	  	 Guarantee of Payment
	  	 	5	  
	 SECTION 2.03.
	  	 No Limitations, Etc.
	  	 	5	  
	 SECTION 2.04.
	  	 Reinstatement
	  	 	6	  
	 SECTION 2.05.
	  	 Agreement To Pay; Subrogation
	  	 	6	  
	 SECTION 2.06.
	  	 Information
	  	 	7	  
	 SECTION 2.07.
	  	 Keepwell
	  	 	7	  
	 SECTION 2.08.
	  	 Limitation
	  	 	7	  
	
	ARTICLE III.	  
	
	Pledge of Securities	  
			
	 SECTION 3.01.
	  	 Pledge
	  	 	7	  
	 SECTION 3.02.
	  	 Delivery of the Pledged Collateral
	  	 	8	  
	 SECTION 3.03.
	  	 Representations, Warranties and Covenants
	  	 	9	  
	 SECTION 3.04.
	  	 Certification of Limited Liability Company Interests and Limited Partnership Interests
	  	 	10	  
	 SECTION 3.05.
	  	 Registration in Nominee Name; Denominations
	  	 	10	  
	 SECTION 3.06.
	  	 Voting Rights; Dividends and Interest, Etc.
	  	 	10	  
	
	ARTICLE IV.	  
	
	Security Interests in Personal Property	  
			
	 SECTION 4.01.
	  	 Security Interest
	  	 	12	  
	 SECTION 4.02.
	  	 Representations and Warranties
	  	 	14	  
	 SECTION 4.03.
	  	 Covenants
	  	 	15	  
	 SECTION 4.04.
	  	 Other Actions
	  	 	17	  
	 SECTION 4.05.
	  	 Intellectual Property
	  	 	18	  
	
	ARTICLE V.	  
	
	Remedies	  
			
	 SECTION 5.01.
	  	 Remedies Upon Default
	  	 	19	  

  
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	 SECTION 5.02.
		 Application of Proceeds
		 	20	  
	 SECTION 5.03.
		 Grant of License to Use Intellectual Property
		 	20	  
	 SECTION 5.04.
		 Securities Act, Etc.
		 	20	  
	
	ARTICLE VI.	  
	
	Indemnity, Subrogation and Subordination	  
			
	 SECTION 6.01.
		 Indemnity and Subrogation
		 	21	  
	 SECTION 6.02.
		 Contribution and Subrogation
		 	21	  
	 SECTION 6.03.
		 Subordination
		 	21	  
	
	ARTICLE VII.	  
	
	Miscellaneous	  
			
	 SECTION 7.01.
		 Notices
		 	22	  
	 SECTION 7.02.
		 Security Interest Absolute
		 	22	  
	 SECTION 7.03.
		 Survival of Agreement
		 	22	  
	 SECTION 7.04.
		 Binding Effect; Several Agreement; Certain References
		 	23	  
	 SECTION 7.05.
		 Successors and Assigns
		 	23	  
	 SECTION 7.06.
		 Collateral Trustee’s Fees and Expenses; Indemnification
		 	23	  
	 SECTION 7.07.
		 Collateral Trustee Appointed Attorney-in-Fact
		 	24	  
	 SECTION 7.08.
		 Waivers; Amendment
		 	25	  
	 SECTION 7.09.
		 Severability
		 	25	  
	 SECTION 7.10.
		 Counterparts
		 	26	  
	 SECTION 7.11.
		 Headings
		 	26	  
	 SECTION 7.12.
		 Applicable Law; Jurisdiction; Consent to Service of Process; Waiver of Jury Trial
		 	26	  
	 SECTION 7.13.
		 Termination or Release
		 	27	  
	 SECTION 7.14.
		 Additional Restricted Subsidiaries
		 	27	  
	 SECTION 7.15.
		 Intercreditor Agreement Controls
		 	28	  

 Schedules 
  

			
	Schedule I		Grantor Information
	Schedule II		Equity Interests; Pledged Debt Securities
	Schedule III		Intellectual Property
	Schedule IV		Certain Uncertificated Limited Liability Companies and Limited Partnerships
	Schedule V		Commercial Tort Claims

 Exhibits 
  

			
	Exhibit A		Form of Supplement

  
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 GUARANTEE AND COLLATERAL AGREEMENT dated as of June 1, 2015 (this
“Agreement”), among PPL ENERGY SUPPLY, LLC, a Delaware limited liability company (the “Borrower”), the Subsidiaries of the Borrower from time to time party hereto and CITIBANK, N.A. (“Citi”), as
collateral trustee (in such capacity, the “Collateral Trustee”). 
 PRELIMINARY STATEMENT 

Reference is made to (i) the Credit Agreement dated as of the date hereof (as amended, restated, amended and restated, replaced or
otherwise modified and/or supplemented from time to time, the “Credit Agreement”), among the Borrower, the lenders from time to time party thereto (the “Lenders”) and Citi, as administrative agent (in such capacity,
the “Administrative Agent”) and the Collateral Trustee, which sets forth the terms and conditions under which the Lenders (such term and each other capitalized term used but not defined in this preliminary statement having the
meaning given or ascribed to it in Article I) have agreed to extend credit to the Borrower, (ii) the credit agreement (as amended, restated, amended and restated, replaced or otherwise modified and/or supplemented from time to time, the
“Other Credit Agreement”) which may be entered into on a future date, among the Borrower, Citicorp USA, Inc., as issuing bank (the “Issuing Bank”), the lenders from time party thereto (together with the Issuing
Bank, the “Other Lenders”), Citicorp USA, Inc., as administrative agent (in such capacity, the “Other Administrative Agent”), and the Collateral Trustee, (iii) the reimbursement agreement (as amended, restated,
amended and restated, replaced or otherwise modified and/or supplemented from time to time, the “Reimbursement Agreement”) which may be entered into on a future date, between the Borrower and Citibank, N.A. (the “L/C
Issuer”) and (iv) the Collateral Trust and Intercreditor Agreement dated as of the date hereof (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”),
among the Borrower, the Administrative Agent, the Subsidiaries of the Borrower from time to time party thereto and certain other Persons from time to time party thereto, which, among other things, appoints the Collateral Trustee as collateral
trustee thereunder, and sets forth the interests, rights, powers and remedies of the First-Lien Secured Parties in respect of the Collateral. 

The obligations of the Lenders to extend credit to the Borrower under the Credit Agreement are conditioned upon, among other things, the
execution and delivery of this Agreement by the Borrower and each Subsidiary Guarantor to the Collateral Trustee for the benefit of the First-Lien Secured Parties. The Borrower or any Subsidiary Guarantor may from time to time enter into Secured
Commodity Hedges, Secured Interest Rate Hedges, Secured Treasury Services Agreements or other Additional First-Lien Indebtedness Agreements in accordance with, and subject to the terms and conditions of, the Intercreditor Agreement to the extent
permitted (if addressed therein, or, otherwise, not prohibited) under the terms of the applicable Financing Documents in effect at such time, in each case secured on a first priority basis by the Lien on the Collateral pursuant to the terms of this
Agreement and the other Security Documents for the benefit of the First-Lien Secured Parties. 
 Each Subsidiary Guarantor is a Subsidiary
of the Borrower, will derive substantial benefits from the extension of credit to the Borrower or the issuance of letters of credit at the request of the Borrower pursuant to the Credit Agreement, any Other Credit Agreement, any Reimbursement
Agreement and the other extensions of credit and accommodations of the First-Lien Secured Parties under the Financing Documents and is willing to execute and deliver this Agreement in order to induce the Lenders, any Other Lender and any L/C Issuer
to extend such credit and to issue such letters of credit. Accordingly, the parties hereto agree as follows: 

 ARTICLE I. 

Definitions 

SECTION 1.01. Intercreditor Agreement and Credit Agreement. 

(a) Capitalized terms used in this Agreement and not otherwise defined herein have the meanings set forth in the Intercreditor Agreement, or,
if not defined therein, in the Credit Agreement as originally in effect on the date hereof. All capitalized terms defined in the New York UCC (as such term is defined herein) and not defined in this Agreement have the meanings specified therein.
Except as expressly set forth in Section 4.01(a), Section 7.12 and Section 7.13, or required by applicable law, all references to the Uniform Commercial Code shall mean the New York UCC. 

(b) The rules of construction set forth in Section 1.2, Section 1.3 and Section 1.4 of the Intercreditor Agreement also apply to
this Agreement as if incorporated herein mutatis mutandis. 
 SECTION 1.02. Other Defined Terms. As used in this Agreement,
the following terms have the meanings specified below: 
 “Accounts Receivable” shall mean all Accounts and all right, title
and interest in any returned goods, together with all rights, titles, securities and guarantees with respect thereto, including any rights to stoppage in transit, replevin, reclamation and resales, and all related security interests, liens and
pledges, whether voluntary or involuntary, in each case whether now existing or owned or hereafter arising or acquired. 

“Administrative Agent” shall have the meaning assigned to such term in the preliminary statement to this Agreement. 

“Article 9 Collateral” shall have the meaning assigned to such term in Section 4.01. 

“Borrower” shall have the meaning assigned to such term in the introductory statement to this Agreement. 

“Claiming Grantor” shall have the meaning assigned to such term in Section 6.02. 

“Collateral” shall mean the Article 9 Collateral and the Pledged Collateral, which, for the avoidance of doubt, excludes all
Excluded Assets. 
 “Collateral Trustee” shall have the meaning assigned to such term in the introductory statement to this
Agreement. 
 “Contract” shall have the meaning assigned to such term in Section 4.01(a). 

“Contributing Grantor” shall have the meaning assigned to such term in Section 6.02. 

“Copyright License” shall mean any written agreement, now or hereafter in effect, granting any right to any third person under
any copyright now or hereafter owned by any Grantor or that such Grantor otherwise has the right to license, or granting any right to any Grantor under any copyright now or hereafter owned by any third person, and all rights of such Grantor under
any such agreement. 

  
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 “Copyrights” shall mean all of the following now owned or hereafter acquired by
any Grantor: (a) all copyright rights in any work subject to the copyright laws of the United States, including those listed on Schedule III hereto, or any other country and (b) all registrations and applications for registration of any
such copyright in the United States or any other country, including registrations, recordings, supplemental registrations and pending applications for registration in the United States Copyright Office (or any successor office or any similar office
in any other country). 
 “Excluded Assets” shall have the meaning assigned to such term in the Credit Agreement. 

“Federal Securities Laws” shall have the meaning assigned to such term in Section 5.04. 

“General Intangibles” shall mean all “general intangibles”, as defined in the New York UCC, including all choses in
action and causes of action and all other intangible personal property of any Grantor of every kind and nature (other than Accounts) now owned or hereafter acquired by any Grantor, including all rights and interests in partnerships, limited
partnerships, limited liability companies and other unincorporated entities, corporate or other business records, indemnification claims, contract rights (including rights under leases, whether entered into as lessor or lessee, agreements giving
rise to Hedging Obligations and other agreements), Intellectual Property, goodwill, registrations, franchises, tax refund claims and any letter of credit, guarantee, claim, security interest or other security held by or granted to any Grantor to
secure payment by an Account Debtor of any of the Accounts. 
 “Governmental Authority” shall mean any nation or government,
or any state, province, territory or other political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing,
regulatory or administrative powers or functions of or pertaining to government, or any governmental or non-governmental authority regulating the generation and/or transmission of energy, including ERCOT. 

“Grantors” shall mean the Borrower and the Subsidiary Guarantors. 

“Guaranteed Obligations” shall mean with respect to any Grantor, all Obligations of any other Grantor with
respect to the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement, any Additional First-Lien Indebtedness Agreement (as defined in the Intercreditor Agreement) (including, if applicable, the Secured Trading Facility), Secured
Interest Rate Hedges, Secured Commodity Hedges, Secured Treasury Services Agreements and any other Financing Document to which such other Grantor is party (excluding any Excluded Hedging Obligations); provided that in no event will any
Grantor have any Guaranteed Obligations with respect to its own Obligations. 
 “Guaranty” shall mean, collectively, the
guaranties made by the Grantors pursuant to Article II together with each supplement delivered pursuant to Section 7.14. 

“Insurance” shall mean (a) all insurance policies covering any or all of the Collateral (regardless of whether the
Collateral Trustee is the loss payee thereof) and (b) any key man life insurance policies. 
 “Intellectual Property”
shall mean all intellectual property of any Grantor of every kind and nature now owned or hereafter acquired by any Grantor, including inventions, designs, Patents, Copyrights, Licenses, Trademarks, trade secrets, confidential or proprietary
technical and business information, know-how, other data or information, software and databases and all embodiments or fixations thereof and related documentation, registrations and franchises, and all additions, improvements and accessions to, and
books and records describing or used in connection with, any of the foregoing. 

  
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 “Intercreditor Agreement” shall have the meaning assigned to such term in the
preliminary statement to this Agreement. 
 “L/C Issuer” shall have the meaning assigned to such term in the preliminary
statement to this Agreement. 
 “License” shall mean any Patent License, Trademark License or Copyright License, including
those listed on Schedule III hereto. 
 “New York UCC” shall mean the Uniform Commercial Code as from time to time in effect
in the State of New York. 
 “Other Administrative Agent” shall have the meaning assigned to such term in the preliminary
statement to this Agreement. 
 “Patent License” shall mean any written agreement, now or hereafter in effect, granting to
any third person any right to make, use or sell any invention on which a patent, now or hereafter owned by any Grantor or that any Grantor otherwise has the right to license, is in existence, or granting to any Grantor any right to make, use or sell
any invention on which a patent, now or hereafter owned by any third person, is in existence, and all rights of any Grantor under any such agreement. 

“Patents” shall mean all of the following now owned or hereafter acquired by any Grantor: (a) all United States patents
or the equivalent thereof in any other country, all registrations and recordings thereof, and all applications for United States patents or the equivalent thereof in any other country, including registrations, recordings and pending applications in
the United States Patent and Trademark Office (or any successor or any similar offices in any other country), including those listed on Schedule III hereto, and (b) all reissues, continuations, divisions, continuations-in-part, renewals or
extensions thereof, and the inventions disclosed or claimed therein, including the right to make, use and/or sell the inventions disclosed or claimed therein. 

“Pledged Collateral” shall have the meaning assigned to such term in Section 3.01. 

“Pledged Debt Securities” shall have the meaning assigned to such term in Section 3.01. 

“Pledged Securities” shall mean any promissory notes, stock certificates or other securities now or hereafter included in the
Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 

“Pledged Stock” shall have the meaning assigned to such term in Section 3.01. 

“Primary Grantor” shall have the meaning assigned to such term in Section 6.01. 

“Qualified ECP Guarantor” means, in respect of any Hedging Obligation, each Credit Party that has total assets exceeding
$10,000,000 at the time the relevant Guaranty or grant of the relevant security interest becomes effective with respect to such Hedging Obligation or such other person as constitutes an “eligible contract participant” under the Commodity
Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange
Act. 
 “Registered Intellectual Property” shall mean all registrations and applications for registration of Trademarks,
Patents and Copyrights issued by, or filed with, any Government Authority. 

  
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 “Reimbursement Agreement” shall have the meaning assigned to such term in the
preliminary statement to this Agreement. 
 “Security Interest” shall have the meaning assigned to such term in
Section 4.01. 
 “Subsidiary Guarantor” shall mean (a) the Subsidiaries listed on the signature pages hereto as
Subsidiary Guarantors and (b) each other Subsidiary that becomes a party to this Agreement as a Subsidiary Guarantor after the Closing Date. 

“Trademark License” shall mean any written agreement, now or hereafter in effect, granting to any third person any right to
use any trademark now or hereafter owned by any Grantor or that any Grantor otherwise has the right to license, or granting to any Grantor any right to use any trademark now or hereafter owned by any third person, and all rights of any Grantor under
any such agreement. 
 “Trademarks” shall mean all of the following now owned or hereafter acquired by any Grantor:
(a) all trademarks, service marks, trade names, corporate names, company names, business names, fictitious business names, trade styles, trade dress, logos, other source or business identifiers, now existing or hereafter adopted or acquired,
and all registrations and applications for registration filed in connection therewith, including registrations and registration applications in the United States Patent and Trademark Office (or any successor office) or any similar offices in any
state of the United States or any other country or any political subdivision thereof, and all extensions or renewals thereof, including those listed on Schedule III hereto, (b) all goodwill associated therewith or symbolized thereby and
(c) all other assets, rights and interests that uniquely reflect or embody such goodwill. 
 ARTICLE II. 

Guarantee 
 SECTION
2.01. Guarantee. Each Grantor unconditionally and irrevocably guarantees, jointly with the other Grantors and severally, as a primary obligor and not merely as a surety, to the Collateral Trustee, for the benefit of the First-Lien
Secured Parties the due and punctual payment and performance of the Guaranteed Obligations. Each Grantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and
that it will remain bound upon its guarantee notwithstanding any extension or renewal of any Guaranteed Obligation. Each Grantor waives presentment to, demand of payment from and protest to the Borrower or any other Credit Party of any Guaranteed
Obligation, and also waives notice of acceptance of its guarantee and notice of protest for nonpayment. 
 SECTION 2.02. Guarantee of
Payment. Each Grantor further agrees that its guarantee hereunder constitutes a guarantee of payment when due and not of collection, and waives any right to require that any resort be had by the Collateral Trustee or any other First-Lien
Secured Party to any security held for the payment of the Guaranteed Obligations or credit on the books of the Collateral Trustee or any other First-Lien Secured Party in favor of the Borrower or any other person. 

SECTION 2.03. No Limitations, Etc. 

(a) Except for termination of a Grantor’s obligations hereunder as expressly provided in Section 7.13, the obligations of each
Grantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or setoff,
counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations 

  
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or otherwise. Without limiting the generality of the foregoing, the obligations of each Grantor hereunder shall not be discharged or impaired or otherwise affected by (i) the failure of the
Collateral Trustee or any other First-Lien Secured Party to assert any claim or demand or to enforce any right or remedy under the provisions of any Financing Document or otherwise, (ii) any rescission, waiver, amendment or modification of any
of the terms or provisions of any Financing Document or any other agreement, including with respect to any other Grantor under this Agreement, (iii) the release of, or any impairment of or failure to perfect any Lien on or security interest in,
any security held by the Collateral Trustee or any other First-Lien Secured Party for the Guaranteed Obligations or any of them, (iv) any default, failure or delay, willful or otherwise, in the performance of the Guaranteed Obligations, or
(v) any other act or omission that may or might in any manner or to any extent vary the risk of any Grantor or otherwise operate as a discharge of any Grantor as a matter of law or equity (other than the Discharge of Obligations in accordance
with the Intercreditor Agreement). Each Grantor expressly authorizes the Collateral Trustee to take and hold security for the payment and performance of the Obligations, to exchange, waive or release any or all such security (with or without
consideration), to enforce or apply such security and direct the order and manner of any sale thereof in its sole discretion or to release or substitute any one or more other guarantors or obligors upon or in respect of the Guaranteed Obligations in
accordance with the terms of the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement and the other Financing Documents, all without affecting the obligations of any Grantor hereunder. 

(b) To the fullest extent permitted by applicable law, each Grantor waives any defense based on or arising out of any defense of the Borrower
or any other Credit Party or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the liability of the Borrower or any other Credit Party, other than the Discharge of Obligations
in accordance with the Intercreditor Agreement. To the extent an Event of Default shall have occurred and be continuing, the Collateral Trustee and the other First-Lien Secured Parties may, at their election, foreclose on any security held by one or
more of them by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with the Borrower or any other
Credit Party or exercise any other right or remedy available to them against the Borrower or any other Credit Party, without affecting or impairing in any way the liability of any Grantor hereunder except to the extent of a Discharge of Obligations
in accordance with the Intercreditor Agreement. To the fullest extent permitted by applicable law, each Grantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to
extinguish any right of reimbursement or subrogation or other right or remedy of such Grantor against the Borrower or any other Credit Party, as the case may be, or any security. 

SECTION 2.04. Reinstatement. Each Grantor agrees that its guarantee hereunder shall continue to be effective or be reinstated,
as the case may be, if at any time payment, or any part thereof, of any Guaranteed Obligation is rescinded or must otherwise be restored by the Collateral Trustee or any other First-Lien Secured Party upon the bankruptcy or reorganization of the
Borrower, any other Credit Party or otherwise. 
 SECTION 2.05. Agreement To Pay; Subrogation. In furtherance of the foregoing
and not in limitation of any other right that the Collateral Trustee or any other First-Lien Secured Party has at law or in equity against any Grantor by virtue hereof, upon the failure of the Borrower or any other Credit Party to pay any Guaranteed
Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Grantor hereby unconditionally and irrevocably agrees to and will forthwith pay, or cause to be paid, to the
Collateral Trustee for distribution to the applicable First-Lien Secured Parties in cash the amount of such unpaid Guaranteed Obligation to the maximum extent permitted by law so as to maximize the aggregate amount paid to the First-Lien Secured
Parties under or in respect of the Financing Documents. Upon payment by any Grantor of any sums to the Collateral Trustee as provided above, all rights of such Grantor against any other Grantor arising as a result thereof by way of right of
subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to Article VI. 

  
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 SECTION 2.06. Information. Each Grantor assumes all responsibility for being and
keeping itself informed of the Borrower’s and each other Credit Party’s financial condition and assets and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the
risks that such Grantor assumes and incurs hereunder, and agrees that neither the Collateral Trustee nor any other First-Lien Secured Party will have any duty to advise such Grantor of information known to it or any of them regarding such
circumstances or risks. 
 SECTION 2.07. Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely,
unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Credit Party to honor all of its obligations under the Guaranty in respect of Hedging Obligations (provided,
however, that each Qualified ECP Guarantor shall only be liable under this Section 2.07 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 2.07, or otherwise under
the Guaranty, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section 2.07 shall remain in full force and effect
until a discharge of the Guaranteed Obligations. Each Qualified ECP Guarantor intends that this Section 2.07 constitute, and this Section 2.07 shall be deemed to constitute, a “keepwell, support or other agreement” for the
benefit of each other Credit Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 SECTION 2.08.
Limitation. Each Grantor, and, by its acceptance of this Agreement, the Collateral Trustee and each other First-Lien Secured Party, hereby confirms that it is the intention of all such Persons that the Guaranty and the Guaranteed
Obligations of each Grantor hereunder not constitute a fraudulent transfer or conveyance for purposes of Debtor Relief Laws, the Uniform Fraudulent Conveyance Act (or any successor thereto), the Uniform Fraudulent Transfer Act (or any successor
thereto) or any similar foreign, federal or state law to the extent applicable to the Guaranty and the Guaranteed Obligations of the Grantors hereunder. To effectuate the foregoing intention, the Collateral Trustee, the other First-Lien Secured
Parties and the Grantors hereby irrevocably agree that the Guaranteed Obligations of each Grantor under the Guaranty at any time shall be limited to the maximum amount as will result in the Guaranteed Obligations of such Grantor under the Guaranty
not constituting a fraudulent transfer or conveyance after giving full effect to the liability under the Guaranty and its related contribution rights set forth in this Agreement. 

ARTICLE III. 

Pledge of Securities 

SECTION 3.01. Pledge. As security for the payment or performance, as the case may be, in full of the Obligations, each Grantor
hereby assigns and pledges to the Collateral Trustee, its successors and assigns, for the benefit of the First-Lien Secured Parties, and hereby grants to the Collateral Trustee, its successors and assigns, for the ratable benefit of the First-Lien
Secured Parties, a security interest in and a continuing Lien on, all of such Grantor’s (other than any Excluded Asset) right, title and interest in, to and under (a) (i) the Equity Interests owned by such Grantor on the date hereof
(including all such Equity Interests listed on Schedule II (but excluding any Excluded Assets)), (ii) any other Equity Interests obtained in the future by such Grantor and (iii) the certificates representing all such Equity Interests (all
the foregoing collectively referred to herein as the “Pledged Stock”), (b) (i) the debt securities held by such Grantor on the date hereof (including all such debt securities listed opposite the name of such 

  
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Grantor on Schedule II), (ii) any debt securities in the future issued to such Grantor and (iii) the promissory notes and any other instruments evidencing such debt securities (all the
foregoing collectively referred to herein as the “Pledged Debt Securities”), (c) all other property that may be delivered to and held by the Collateral Trustee pursuant to the terms of this Section 3.01, (d) subject
to Section 3.06, all payments of principal or interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of the securities
referred to in clauses (a) and (b) above, (e) subject to Section 3.06, all rights and privileges of such Grantor with respect to the securities and other property referred to in clauses (a), (b), (c) and (d) above, and
(f) all Proceeds of any of the foregoing (the items referred to in clauses (a) through (e) above (but excluding any Excluded Assets) being collectively referred to as the “Pledged Collateral”); provided that at
any time any Existing PPL Notes or Existing RJS Debt remains outstanding, the principal amount of Obligations secured by Collateral of the Borrower (other than Capital Stock of any subsidiary of the Borrower that is not a Material Subsidiary (as
defined in any indenture governing any Existing PPL Notes or Existing RJS Debt)) shall be deemed limited to an amount not to exceed 10% of the total assets of the Borrower specified in the most recent audited balance sheet of the Borrower prior to
the date of determination; provided further that in no event shall the Collateral Trustee take any voting, remedial or other action with respect to any Collateral directly or indirectly constituting Capital Stock of PPL Interstate Energy
Company unless and until all authorizations, approvals and other actions by, and all notices to and filings with, all Governmental Authorities necessary under any Applicable Law to take such action have been obtained, taken and made, as applicable
(including without limitation the prior filing with and approval of the Pennsylvania Public Utility Commission). 
 TO HAVE AND TO
HOLD the Pledged Collateral, together with all right, title, interest, powers, privileges and preferences pertaining or incidental thereto, unto the Collateral Trustee, its successors and assigns, for the benefit of the First-Lien Secured Parties,
forever; subject, however, to the terms, covenants and conditions hereinafter set forth. 
 SECTION 3.02.
Delivery of the Pledged Collateral. 
 (a) Each Grantor agrees promptly (and in any event within the time period specified in
Section 9.10 of the Credit Agreement) to deliver or cause to be delivered to the Collateral Trustee any and all certificates, instruments or other documents representing or evidencing Pledged Stock. 

(b) Subject to the thresholds in Section 4.04(a) and Section 4.04(b), each Grantor agrees promptly (and in any event within the time
period specified in Section 9.10 of the Credit Agreement) to deliver or cause to be delivered to the Collateral Trustee any and all Pledged Debt Securities. 

(c) Upon delivery to the Collateral Trustee, (i) any certificate, instrument or document representing or evidencing Pledged Securities
shall be accompanied by undated stock powers duly executed in blank or other undated instruments of transfer reasonably satisfactory to the Collateral Trustee and duly executed in blank and by such other instruments and documents as the Collateral
Trustee may reasonably request and (ii) all other property comprising part of the Pledged Collateral shall be accompanied by proper instruments of assignment duly executed by the applicable Grantor and such other instruments or documents as the
Collateral Trustee may reasonably request. Each delivery of Pledged Securities shall be accompanied by a schedule describing the applicable securities, which schedule shall be attached hereto as Schedule II and made a part hereof; provided
that failure to attach any such schedule hereto shall not affect the validity of the pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 

  
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 SECTION 3.03. Representations, Warranties and Covenants. To induce the First-Lien
Secured Parties to enter into the applicable Financing Documents and to make their respective extensions of credit and issuances of letters of credit to or at the request of the applicable Grantor thereunder, the Grantors jointly and severally
represent and warrant to and, solely with respect to Section 3.03(c)(i), Section 3.03(c)(iii), Section 3.03(c)(iv), Section 3.03(d), Section 3.03(e)(ii) and Section 3.03(g) covenant with, the Collateral Trustee, for the
benefit of the First-Lien Secured Parties, that: 
 (a) Schedule II correctly sets forth on the date hereof the percentage of
the issued and outstanding shares of each class of the Equity Interests of the issuer thereof represented by such Pledged Stock and includes all Equity Interests, debt securities and promissory notes required to be pledged hereunder; 

(b) the Pledged Stock and Pledged Debt Securities have been duly and validly authorized and issued by the issuers thereof and
(i) in the case of Pledged Stock, are fully paid and nonassessable and (ii) in the case of Pledged Debt Securities, are legal, valid and binding obligations of the issuers thereof; 

(c) except for the Security Interests granted hereunder, each Grantor (i) is and, subject to any transfers made in
compliance with the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement and the other applicable Financing Documents, will continue to be the direct owner, beneficially and of record, of the Pledged Collateral indicated on
Schedule II as owned by such Grantor, (ii) holds the same free and clear of all Liens (other than Liens permitted by the Financing Documents and permitted (if addressed therein or, otherwise, not prohibited) by the other applicable Financing
Documents), (iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in or other Lien on, the Pledged Collateral, other than in compliance with the Credit Agreement, any Other
Credit Agreement, any Reimbursement Agreement and the other applicable Financing Documents, and (iv) subject to Section 3.06, will cause any and all Pledged Collateral, whether for value paid by such Grantor or otherwise, to be forthwith
deposited with the Collateral Trustee and pledged or assigned hereunder; 
 (d) except for restrictions and limitations
imposed by the Financing Documents or securities laws generally and as do not violate the requirements of the applicable Financing Documents, the Pledged Collateral is and will continue to be freely transferable and assignable, and none of the
Pledged Collateral is or will be subject to any option, right of first refusal, shareholders agreement, charter or by-law provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of such
Pledged Collateral hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Collateral Trustee of rights and remedies hereunder; 

(e) each Grantor (i) has the power and authority to pledge the Pledged Collateral pledged by it hereunder in the manner
hereby done or contemplated and (ii) will defend its title or interest thereto or therein against any and all Liens (other than any Lien created or permitted by the Financing Documents), however arising, of all Persons whomsoever; 

(f) no consent or approval of any Governmental Authority, any securities exchange or any other person was or is necessary to
the validity of the pledge effected hereby (other than such as have been obtained and are in full force and effect); 
 (g)
by virtue of the execution and delivery by each Grantor of this Agreement, when any Pledged Securities are delivered to the Collateral Trustee in accordance with this Agreement, the Collateral Trustee will obtain a legal, valid and perfected first
priority lien upon and security interest in such Pledged Securities as security for the payment and performance of the Obligations; and 

  
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 (h) the pledge effected hereby is effective to vest in the Collateral Trustee,
for the ratable benefit of the First-Lien Secured Parties, the rights of the Collateral Trustee in the Pledged Collateral as set forth herein and all action by any Grantor necessary or desirable to protect and perfect the Lien on the Pledged
Collateral has been duly taken. 
 SECTION 3.04. Certification of Limited Liability Company Interests and Limited Partnership
Interests. Each Grantor represents and warrants that each interest held by it in any limited liability company or limited partnership which is a Subsidiary and pledged hereunder (other than the uncertificated limited liability company and
limited partnership interests, as of the Closing Date, set forth on Schedule IV) is represented by a certificate, and is a “security” within the meaning of, and is governed by, the Uniform Commercial Code of the State of Delaware and each
other applicable jurisdiction. Each Grantor hereby agrees not to vote, enable or take any other action to cause any of the entities set forth on Schedule IV and any Subsidiaries acquired after the Closing Date which are limited liability companies
or limited partnerships the Grantor’s interest in which are not securities (for the purposes of the Uniform Commercial Code) (together, the “Uncertificated Subsidiaries”) on the date hereof or at the time of acquisition
to elect or otherwise take any action to cause the interests in such Uncertificated Subsidiaries to be treated as securities for purposes of the Uniform Commercial Code; provided, however, notwithstanding the foregoing, if any Uncertificated
Subsidiary takes any such action in violation of the foregoing, the Grantor holding such interests shall promptly notify the Collateral Trustee in writing of any such election or action and, in such event, shall take all steps necessary or advisable
to establish the Collateral Trustee’s “control” (within the meaning of Section 8-106 of the UCC) thereof. 
 SECTION
3.05. Registration in Nominee Name; Denominations. The Pledged Securities shall be in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Collateral Trustee, but following the occurrence and during the
continuance of an Event of Default the Collateral Trustee shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, or in the name of its nominee (as pledgee or as sub-agent). Each Grantor
will promptly give to the Collateral Trustee copies of any notices or other communications received by it with respect to Pledged Securities in its capacity as the registered owner thereof. After the occurrence and during the continuance of an Event
of Default, the Collateral Trustee shall at all times have the right to exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any purpose consistent with this Agreement. 

SECTION 3.06. Voting Rights; Dividends and Interest, Etc. 

(a) Unless and until an Event of Default shall have occurred and be continuing and the Collateral Trustee shall have given the Borrower or the
Grantors prior notice of its intent to exercise its rights under this Agreement (which notice shall be deemed to have been given immediately upon the occurrence of an Insolvency or Liquidation Proceeding which gives rise to an Event of Default):

 (i) Each Grantor shall be entitled to exercise any and all voting and/or other consensual rights and powers inuring to an
owner of Pledged Securities or any part thereof for any purpose consistent with the terms of this Agreement, the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement and the other Financing Documents; provided,
however, that such rights and powers shall not be exercised in any manner that could materially and adversely affect the rights inuring to a holder of any Pledged Securities or the rights and remedies of any of the Collateral Trustee or the
other First-Lien Secured Parties under this Agreement or the Credit Agreement or any Other Credit Agreement or any Reimbursement Agreement or any other Financing Document or the ability of the First-Lien Secured Parties to exercise the same. 

  
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 (ii) The Collateral Trustee shall execute and deliver to each Grantor, or cause
to be executed and delivered to each Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and/or consensual rights and powers it is
entitled to exercise pursuant to paragraph (i) above. 
 (iii) Each Grantor shall be entitled to receive and retain any
and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Securities to the extent and only to the extent that such dividends, interest, principal and other distributions are permitted by, and
otherwise paid or distributed in accordance with, the terms and conditions of the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement and the other Financing Documents; provided, however, that any noncash
dividends, interest, principal or other distributions that would constitute Pledged Stock or Pledged Debt Securities (other than, for the avoidance of doubt, property, including cash, that does not constitute Pledged Stock or Pledged Debt
Securities), whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities or received in exchange for Pledged Securities or any part thereof, or in redemption
thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Pledged Collateral, and, if received by any Grantor, shall not be
commingled by such Grantor with any of its other property but shall be held separate and apart therefrom, shall be held in trust for the ratable benefit of the First-Lien Secured Parties and shall be forthwith delivered to the Collateral Trustee in
the same form as so received (with any necessary endorsement or instrument of assignment). 
 (b) Upon the occurrence and during the
continuance of an Event of Default, after the Collateral Trustee shall have notified (or shall be deemed to have notified pursuant to Section 3.06(a)) the Grantors of the suspension of their rights under paragraph (a)(iii) of this
Section 3.06, then all rights of any Grantor to dividends, interest, principal or other distributions that such Grantor is authorized to receive pursuant to paragraph (a)(iii) of this Section 3.06 shall cease, and all such rights shall
thereupon become vested in the Collateral Trustee, which shall have the sole and exclusive right and authority to receive and retain such dividends, interest, principal or other distributions. All dividends, interest, principal or other
distributions received by any Grantor contrary to the provisions of this Section 3.06 shall be held in trust for the benefit of the Collateral Trustee, shall be segregated from other property or funds of such Grantor and shall be forthwith
delivered to the Collateral Trustee upon demand in the same form as so received (with any necessary endorsement or instrument of assignment). Any and all money and other property paid over to or received by the Collateral Trustee pursuant to the
provisions of this paragraph (b) shall be retained by the Collateral Trustee in an account to be established by the Collateral Trustee upon receipt of such money or other property and shall be applied in accordance with the provisions of
Section 5.02. After all Events of Default have been cured or waived and each applicable Grantor has delivered to the Administrative Agent, any applicable Other Administrative Agent and any applicable L/C Issuer certificates to that effect, the
Collateral Trustee shall, at the request of such Grantor, promptly after all such Events of Default have been cured or waived, repay to each applicable Grantor (without interest) all dividends, interest, principal or other distributions that such
Grantor would otherwise be permitted to retain pursuant to the terms of paragraph (a)(iii) of this Section 3.06 and that remain in such account. 

(c) Upon the occurrence and during the continuance of an Event of Default, after the Collateral Trustee shall have notified (or shall be deemed
to have notified pursuant to Section 3.06(a)) the Grantors of the suspension of their rights under paragraph (a)(i) of this Section 3.06, then all rights of any 

  
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Grantor to exercise the voting and consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 3.06, and the obligations of the Collateral Trustee
under paragraph (a)(ii) of this Section 3.06, shall cease, and all such rights shall thereupon become vested in the Collateral Trustee, which shall have the sole and exclusive right and authority to exercise such voting and consensual rights
and powers; provided that, unless otherwise directed by the Required First-Lien Secured Parties, the Collateral Trustee shall have the right from time to time following and during the continuance of an Event of Default to permit the Grantors
to exercise such rights. Each Grantor agrees, upon the occurrence and during the continuance of an Event of Default, to grant the Collateral Trustee a proxy and to promptly at such time deliver to the Collateral Trustee such additional proxies and
other documents as may be necessary to allow the Collateral Trustee to exercise such voting and consensual rights and powers. 
 (d) Any
notice given by the Collateral Trustee to the Grantors exercising its rights under paragraph (a) of this Section 3.06 (i) must be given in writing, (ii) may be given to one or more of the Grantors at the same or different times
and (iii) may suspend the rights of the Grantors under paragraph (a)(i) or paragraph (a)(iii) of this Section 3.06 in part without suspending all such rights (as specified by the Collateral Trustee in its sole and absolute discretion) and
without waiving or otherwise affecting the Collateral Trustee’s rights to give additional notices from time to time suspending other rights so long as an Event of Default has occurred and is continuing. 

ARTICLE IV. 
 Security
Interests in Personal Property 
 SECTION 4.01. Security Interest. 

(a) As security for the payment or performance, as the case may be, in full of the Obligations, each Grantor hereby assigns and pledges to the
Collateral Trustee, its successors and assigns, for the benefit of the First-Lien Secured Parties, and hereby grants to the Collateral Trustee, its successors and assigns, for the benefit of the First-Lien Secured Parties, a security interest in and
continuing lien on (the “Security Interest”) all right, title or interest in or to any and all of the following assets and properties now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at
any time in the future may acquire any right, title or interest (collectively, the “Article 9 Collateral”): 

(i) all Accounts; 

(ii) all Chattel Paper; 

(iii) all cash and Deposit Accounts; 

(iv) all Documents; 

(v) all Equipment; 

(vi) all General Intangibles and Intellectual Property; 

(vii) all Instruments; 

(viii) all Inventory; 

(ix) all Investment Property; 

  
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 (x) all Letter of Credit Rights; 

(xi) all Commercial Tort Claims, including those described on Schedule V hereto; 

(xii) all Insurance; 

(xiii) all books and records pertaining to the Article 9 Collateral; and 

(xiv) to the extent not otherwise included, all Supporting Obligations, Proceeds and products of any and all of the foregoing
and all collateral security and guarantees given by any Person with respect to any of the foregoing. 
 Notwithstanding anything herein to the contrary, in
no event shall the Article 9 Collateral include nor the security interest granted under this Section 4.01 attach to any Excluded Assets. Furthermore, any assets or property constituting “Excluded Assets” are expressly excluded from
each term used in the definition of Collateral (and any component definition thereof). 
 Notwithstanding the foregoing, in no event shall
the Grantors be required to perfect any security interest through control (as defined in the New York UCC), including any control agreements, in respect of any cash, deposit accounts, securities accounts, Letter-of-Credit Rights or any proceeds,
interest, income or profit therefrom. 
 Notwithstanding the foregoing, in no event shall the Collateral Trustee take any voting, remedial
or other action with respect to any Collateral directly or indirectly constituting Capital Stock of PPL Interstate Energy Company unless and until all authorizations, approvals and other actions by, and all notices to and filings with, all
Governmental Authorities necessary under any Applicable Law to take such action have been obtained, taken and made, as applicable (including without limitation the prior filing with and approval of the Pennsylvania Public Utility Commission). 

(b) Each Grantor hereby irrevocably authorizes the Collateral Trustee at any time and from time to time to file in any relevant jurisdiction
any initial financing statements (including fixture filings) with respect to the Article 9 Collateral or any part thereof and amendments thereto that (i) describe the Article 9 Collateral as described herein or in any other manner as the
Collateral Trustee may determine, in its reasonable discretion, is reasonably necessary, advisable or prudent to ensure the perfection of the Security Interest granted herein, (ii) indicate the Article 9 Collateral as “all assets, whether
now owned or hereafter acquired, developed or created” or words of similar effect, and (iii) contain the information required by Article 9 of the Uniform Commercial Code of each applicable jurisdiction for the filing of any financing
statement or amendment, including (A) whether such Grantor is an organization, the type of organization and any organizational identification number issued to such Grantor and (B) in the case of a financing statement filed as a fixture
filing, a sufficient description of the real property to which such Article 9 Collateral relates. Each Grantor agrees to provide such information to the Collateral Trustee promptly upon request. 

(c) The Collateral Trustee is further authorized to file with the United States Patent and Trademark Office or United States Copyright Office
(or any successor office or any similar office in any other country) such documents as may be necessary or advisable for the purpose of perfecting, confirming, continuing, enforcing or protecting the Security Interest granted by each Grantor,
without the signature of any Grantor, and naming any Grantor or the Grantors as debtors and the Collateral Trustee as the secured party. 

  
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 (d) The Security Interest is granted as security only and shall not subject the Collateral
Trustee or any other First-Lien Secured Party to, or in any way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Article 9 Collateral. 

SECTION 4.02. Representations and Warranties. To induce the First-Lien Secured Parties to enter into the applicable Financing
Documents and to make their respective extensions of credit and issuances of letters of credit to or at the request of the applicable Grantor thereunder, the Grantors jointly and severally represent and warrant to the Collateral Trustee for the
benefit of the First-Lien Secured Parties that: 
 (a) Schedule I hereto accurately sets forth as of the Closing Date the
exact legal name, organizational type, jurisdiction of organization or formation and organizational identification number (if any) of each Grantor. Uniform Commercial Code financing statements (including fixture filings, as applicable) or other
appropriate filings, recordings or registrations containing a description of the Article 9 Collateral have been prepared by the Collateral Trustee based upon the information provided to the Administrative Agent and the First-Lien Secured Parties in
Schedule I for filing in each governmental, municipal or other office specified in Schedule I or specified by notice from the Borrower to the Administrative Agent, any Other Administrative Agent and any L/C Issuer after the Closing Date in the case
of filings, recordings or registrations required by the Credit Agreement, any Other Credit Agreement and any Reimbursement Agreement, which are all the filings, recordings and registrations (other than filings required to be made in the United
States Patent and Trademark Office and the United States Copyright Office in order to perfect the Security Interest in the Article 9 Collateral consisting of United States Patents, Trademarks and Copyrights) that are necessary to publish notice of
and protect the validity of and to establish a legal, valid and perfected security interest in favor of the Collateral Trustee (for the ratable benefit of the First-Lien Secured Parties) in respect of all Article 9 Collateral in which the Security
Interest may be perfected by filing, recording or registration in the United States (or any political subdivision thereof) and its territories and possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or
reregistration is necessary in any such jurisdiction, except as provided under applicable law with respect to the filing of continuation statements. Each Grantor represents and warrants that a fully executed agreement in the form hereof (or a fully
executed short form agreement in form and substance reasonably satisfactory to the Collateral Trustee), and containing a description of all Article 9 Collateral consisting of United States Patents and applications therefor, United States registered
Trademarks (and Trademarks for which United States registration applications are pending other than intent-to-use applications) and United States registered Copyrights has been delivered to the Collateral Trustee for filing with and recording by the
United States Patent and Trademark Office and the United States Copyright Office pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17 U.S.C. § 205 and the regulations thereunder, as applicable, and otherwise as may be
required pursuant to the laws of any other necessary jurisdiction to protect the validity of and to establish a legal, valid and perfected security interest in favor of the Collateral Trustee (for the ratable benefit of the First-Lien Secured
Parties) in respect of all such Article 9 Collateral. 
 (b) The Security Interest granted to the Collateral Trustee for the
benefit of the First-Lien Secured Parties constitutes (i) a legal and valid security interest in all Article 9 Collateral securing the payment and performance of the Obligations, (ii) subject to the filings and other actions described in
Section 4.02(a), a perfected security interest in all Article 9 Collateral in which a security interest may be perfected by filing, recording or registering a financing statement or analogous document in the United States (or any political
subdivision thereof) and its territories and possessions pursuant to the Uniform Commercial Code or other applicable law in such jurisdictions and (iii) subject to the filings and other actions described in Section 4.02(a), a security

  
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interest that shall be perfected in all Article 9 Collateral in which a security interest may be perfected upon the receipt and recording of this Agreement (or with respect to certain
Intellectual Property fully executed short form agreements in form and substance reasonably satisfactory to the Collateral Trustee) with the United States Patent and Trademark Office and the United States Copyright Office, as applicable. The
Security Interest is and shall be prior to any other Lien on any of the Article 9 Collateral, other than Liens expressly permitted pursuant to the Credit Agreement, any Other Credit Agreement and any Reimbursement Agreement and permitted (if
addressed therein or, otherwise, not prohibited) by the other applicable Financing Documents. 
 (c) The Article 9 Collateral
is owned by the Grantors free and clear of any Lien, except for Liens expressly permitted pursuant to the Credit Agreement, any Other Credit Agreement and any Reimbursement Agreement and permitted (if addressed therein or, otherwise, not prohibited)
by the other applicable Financing Documents. Except to the extent permitted pursuant to the Financing Documents or any other Financing Document, no Grantor has filed or consented to the filing of (i) any financing statement or analogous
document under the Uniform Commercial Code or any other applicable laws covering any Article 9 Collateral, (ii) any assignment in which any Grantor assigns any Patent, Trademark or Copyright constituting Article 9 Collateral or any security
agreement or similar instrument covering any Patent, Trademark or Copyright constituting Article 9 Collateral with the United States Patent and Trademark Office or the United States Copyright Office, (iii) any notice under the Assignment of
Claims Act, or (iv) any assignment in which any Grantor assigns any Article 9 Collateral or any security agreement or similar instrument covering any Article 9 Collateral with any foreign governmental, municipal or other office, which financing
statement or analogous document, assignment, security agreement or similar instrument is still in effect, except, in each case, for Liens expressly permitted pursuant to the Credit Agreement, any Other Credit Agreement and any Reimbursement
Agreement and permitted (if addressed therein or, otherwise, not prohibited) by the other applicable Financing Documents. Schedule V hereto is a true and complete schedule of all Commercial Tort Claims (including a summary description) in
respect of which a complaint or a counterclaim has been filed by or on behalf of any Grantor seeking damages in an amount in excess of $5,000,000 individually (or $15,000,000 in the aggregate, for all such amounts that are $5,000,000 or less). 

(d) Schedule III hereto accurately sets forth, as of the date hereof, each Patent, Copyright registration, registered Trademark
and exclusive Copyright License. 
 SECTION 4.03. Covenants. 

(a) Each Grantor agrees promptly (and in any event within 60 days or such later date as may be agreed to by the Collateral Trustee) to notify
the Collateral Trustee in writing of any change in (i) its legal name, (ii) its identity or type of organization, (iii) its Federal Taxpayer Identification Number or organizational identification number or (iv) its jurisdiction
of organization. Each Grantor agrees promptly to provide the Collateral Trustee with certified organizational documents reflecting any of the changes described in the first sentence of this paragraph. Each Grantor agrees not to effect or permit any
change referred to in the preceding sentence unless all filings have been made under the Uniform Commercial Code or otherwise that are required in order for the Collateral Trustee to continue at all times following such change to have a valid, legal
and perfected first priority security interest in all the Article 9 Collateral. 
 (b) Each Grantor agrees to maintain, at its own cost and
expense, such complete and accurate records with respect to the Article 9 Collateral owned by it as is consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or
similar to those in which such Grantor is engaged, but in any event to include complete accounting 

  
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records indicating all payments and proceeds received with respect to any part of the Article 9 Collateral, and, upon the occurrence and during the continuance of an Event of Default, promptly to
prepare, if requested by the Collateral Trustee, and deliver to the Collateral Trustee a duly certified schedule or schedules in form and detail satisfactory to the Collateral Trustee showing the identity, amount and location of any and all Article
9 Collateral. 
 (c) Each Grantor shall, at its own expense, take any and all actions reasonably necessary to defend title to the Article 9
Collateral against all persons and to defend the Security Interest of the Collateral Trustee in the Article 9 Collateral and the priority thereof against any Lien not expressly permitted pursuant to the Credit Agreement, any Other Credit Agreement
and any Reimbursement Agreement and permitted (if addressed therein or, otherwise, not prohibited) by the other applicable Financing Documents. 

(d) Each Grantor agrees, at its own expense, promptly to execute, acknowledge, deliver and cause to be duly filed all such further instruments
and documents and take all such actions reasonably necessary as the Collateral Trustee may from time to time reasonably request and which are necessary to obtain, preserve, protect and perfect the Security Interest and the rights and remedies
created hereby, including the payment of any fees and Taxes required in connection with the execution and delivery of this Agreement, the granting of the Security Interest and the filing of any financing or continuation statements (including fixture
filings) or other documents in connection herewith or therewith. If any amount payable to any Grantor under or in connection with any of the Article 9 Collateral shall be or become evidenced by any promissory note or other instrument, such note or
instrument shall be promptly pledged and, subject to Section 4.04(a) and Section 4.04(b), delivered to the Collateral Trustee, duly endorsed in a manner satisfactory to the Collateral Trustee. 

(e) At its option, the Collateral Trustee may discharge past due Taxes, assessments, charges, fees, Liens, security interests or other
encumbrances at any time levied or placed on the Article 9 Collateral and not expressly permitted pursuant to the Credit Agreement, any Other Credit Agreement and any Reimbursement Agreement and permitted (if addressed therein or, otherwise, not
prohibited) by the other applicable Financing Documents, and may pay for the maintenance and preservation of the Article 9 Collateral to the extent any Grantor fails to do so as required by the Credit Agreement, any Other Credit Agreement, any
Reimbursement Agreement, this Agreement or the other applicable Financing Documents, and each Grantor jointly and severally agrees to reimburse the Collateral Trustee on demand for any reasonable payment made or any reasonable expense incurred by
the Collateral Trustee pursuant to the foregoing authorization; provided, however, that nothing in this paragraph shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral
Trustee or any First-Lien Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to Taxes, assessments, charges, fees, Liens, security interests or other encumbrances and maintenance as set forth herein or in
the other Financing Documents. 
 (f) Except in each case as would not reasonably be expected to have a Material Adverse Effect (as defined
in the Credit Agreement), each Grantor shall remain liable to observe and perform all the conditions and obligations to be observed and performed by it under each contract, agreement or instrument that constitutes Article 9 Collateral, all in
accordance with the terms and conditions thereof, and each Grantor jointly and severally agrees to indemnify and hold harmless the Collateral Trustee and the First-Lien Secured Parties from and against any and all liability for such performance in
accordance with Section 13.01 of the Credit Agreement. 
 (g) No Grantor shall make or permit to be made an assignment, pledge or
hypothecation of the Article 9 Collateral or shall grant any other Lien in respect of the Article 9 Collateral, except, in each case, as expressly permitted by the Credit Agreement, any Other Credit Agreement and any

  
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Reimbursement Agreement and permitted (if addressed therein or, otherwise, not prohibited) by the other applicable Financing Documents. No Grantor shall make or permit to be made any transfer of
the Article 9 Collateral and each Grantor shall remain at all times in possession or otherwise in control of the Article 9 Collateral owned by it, except as permitted by the Credit Agreement, any Other Credit Agreement and any Reimbursement
Agreement and permitted (if addressed therein or, otherwise, not prohibited) by the other applicable Financing Documents. 
 (h) Each
Grantor, at its own expense, shall maintain or cause to be maintained Insurance covering physical loss or damage to the Inventory and Equipment in accordance with the requirements set forth in the Credit Agreement, any Other Credit Agreement, any
Reimbursement Agreement and the requirements of any other applicable Financing Documents. Each Grantor irrevocably makes, constitutes and appoints the Collateral Trustee (and all officers, employees or agents designated by the Collateral Trustee) as
such Grantor’s true and lawful agent (and attorney-in-fact) for the purpose, upon the occurrence and during the continuance of an Event of Default, of making, settling and adjusting claims in respect of Article 9 Collateral under policies of
Insurance, endorsing the name of such Grantor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and for making all determinations and decisions with respect thereto. In the event that any Grantor
at any time or times shall fail to obtain or maintain any of the policies of insurance required hereby or under the Credit Agreement, any Other Credit Agreement or any Reimbursement Agreement or any other applicable Financing Documents or to pay any
premium in whole or part relating thereto, the Collateral Trustee may, without waiving or releasing any obligation or liability of any Grantor hereunder or any Default or Event of Default, in its sole discretion, obtain and maintain such policies of
insurance and pay such premium and take any other actions with respect thereto as the Collateral Trustee deems advisable. All sums disbursed by the Collateral Trustee in connection with this paragraph, including attorneys’ fees, court costs,
expenses and other charges relating thereto, shall be payable, upon demand, by the Grantors to the Collateral Trustee and shall be additional Obligations secured hereby. 

SECTION 4.04. Other Actions. In order to further insure the attachment, perfection and priority of, and the ability of the
Collateral Trustee to enforce, the Security Interest in the Article 9 Collateral, each Grantor agrees, in each case at such Grantor’s own expense, to take the following actions with respect to the following Article 9 Collateral (and only to the
extent the following consist of Article 9 Collateral: 
 (a) Instruments. Each Grantor shall upon
Collateral Trustee’s request during the continuance of an Event of Default, deliver to the Collateral Trustee within five (5) Business Days of such request all Instruments in an amount in excess of $5,000,000 individually (or $15,000,000
in the aggregate, for all such amounts that are $5,000,000 or less), accompanied by such undated instruments of endorsement, transfer or assignment duly executed in blank as the Collateral Trustee may specify. No Grantor shall at any time deliver
any Instrument described in the preceding sentence to any Person other than the Collateral Trustee. Upon the Collateral Trustee’s request, each Grantor shall promptly provide to the Collateral Trustee a list of all such Instruments held by any
Grantor. 
 (b) Investment Property. Except to the extent otherwise provided in
Article III, if any Grantor shall at any time hold or acquire any certificated security in an amount in excess of $5,000,000 individually (or $15,000,000 in the aggregate, for all such amounts that are $5,000,000 or less) such Grantor shall
forthwith endorse, assign and deliver the same to the Collateral Trustee, accompanied by such undated instrument of transfer or assignment duly executed in blank as the Collateral Trustee may from time to time specify. If any security in an amount
in excess of $5,000,000 individually (or $15,000,000 in the aggregate, for all such amounts that are $5,000,000 or less) now or hereafter acquired by any Grantor is uncertificated and is issued to

  
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such Grantor or its nominee directly by the issuer thereof, such Grantor shall promptly notify the Collateral Trustee thereof and, at the Collateral Trustee’s request, pursuant to an
agreement in form and substance satisfactory to the Collateral Trustee, either (i) cause the issuer to agree to comply with instructions from the Collateral Trustee as to such securities, without further consent of any Grantor or such nominee,
or (ii) upon the occurrence and during the continuance of an Event of Default, at the option of the Collateral Trustee, arrange for the Collateral Trustee to become the registered owner of the securities. 

(c) Electronic Chattel Paper and Transferable Records. If any Grantor at any time holds or acquires
an interest, in an amount in excess of $5,000,000 individually (or $15,000,000 in the aggregate, for all such amounts that are $5,000,000 or less) in any Electronic Chattel Paper or any “transferable
record”, as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act, or in Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant
jurisdiction, such Grantor shall promptly notify the Collateral Trustee thereof and, at the request of the Collateral Trustee, shall take such action as the Collateral Trustee may reasonably request to vest in the Collateral Trustee control under
New York UCC Section 9-105 of such Electronic Chattel Paper or control under Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, Section 16 of the Uniform Electronic
Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Collateral Trustee agrees with such Grantor that the Collateral Trustee will arrange, pursuant to procedures reasonably satisfactory to the Collateral Trustee
and so long as such procedures will not result in the Collateral Trustee’s loss of control, for the Grantor to make alterations to the Electronic Chattel Paper or transferable record permitted under UCC Section 9-105 or, as the case may
be, Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or Section 16 of the Uniform Electronic Transactions Act for a party in control without loss of control, unless an Event of Default has occurred and
is continuing or would occur after taking into account any action by such Grantor with respect to such Electronic Chattel Paper or transferable record. 

(d) Commercial Tort Claims. If any Grantor shall at any time hold or acquire a Commercial Tort
Claim in an amount reasonably estimated to exceed $5,000,000 individually (or $15,000,000 in the aggregate, for all such amounts that are $5,000,000 or less) the Grantor shall promptly notify the Collateral Trustee thereof in a writing signed by
such Grantor including a summary description of such claim and grant to the Collateral Trustee, for the ratable benefit of the First-Lien Secured Parties, in such writing a security interest therein and in the proceeds thereof, all upon the terms of
this Agreement, with such writing to be in form and substance satisfactory to the Collateral Trustee. 
 SECTION 4.05.
Intellectual Property. Whenever a Grantor, either by itself or through any agent, employee, licensee or designee, shall acquire any United States Registered Intellectual Property or file an application for any Registered Intellectual
Property with the United States Patent and Trademark Office or the United States Copyright Office (other than as a result of any pending application of which such Grantor has already provided notice becoming registered or issued), such Grantor shall
promptly (but in any event within 90 days or such later date as may be agreed by the Collateral Trustee) report such filing to the Collateral Trustee and execute and deliver, and have timely recorded with the United States Patent and Trademark
Office or United States Copyright Office, a short form security agreement substantially in the same form as any such agreement delivered on the Closing Date or such other form reasonably acceptable to the Collateral Trustee and take all other
actions requested by the Collateral Trustee to evidence the Collateral Trustee’s security interest in any such Registered Intellectual Property included in the Collateral. 

  
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 ARTICLE V. 

Remedies 
 SECTION
5.01. Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default, each Grantor agrees to deliver each item of Collateral to the Collateral Trustee on demand, and it is agreed that the Collateral
Trustee shall have the right to take any of or all the following actions at the same or different times: (a) with respect to any Article 9 Collateral consisting of Intellectual Property, on demand and, other than in violation of any law, rule
or regulation applicable to such Grantor or any then-existing agreements or licensing arrangements to the extent that waivers cannot be obtained, to cause the Security Interest to become an assignment, transfer and conveyance of any of or all such
Article 9 Collateral by the applicable Grantor to the Collateral Trustee, or to license or sublicense, whether general, special or otherwise, and whether on an exclusive or nonexclusive basis, any such Article 9 Collateral throughout the world on
such terms and conditions and in such manner as the Collateral Trustee shall reasonably determine, and (b) with or without legal process and with or without prior notice or demand for performance, to take possession of the Article 9 Collateral
and without liability for trespass to enter any premises where the Article 9 Collateral may be located for the purpose of taking possession of or removing the Article 9 Collateral and, generally, to exercise any and all rights afforded to a secured
party under the Uniform Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Grantor agrees that the Collateral Trustee shall have the right, subject to the mandatory requirements of applicable law, to sell
or otherwise dispose of all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as the Collateral Trustee shall deem appropriate. The
Collateral Trustee shall be authorized at any such sale (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to persons who will represent and agree that they are purchasing the Collateral for their own account for
investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Collateral Trustee shall have the right to assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold.
Each such purchaser at any such sale shall hold the property sold absolutely, free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by law) all rights of redemption, stay and appraisal which
such Grantor now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 
 The
Collateral Trustee shall give each applicable Grantor 10 days’ prior written notice (which each Grantor agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the
Collateral Trustee’s intention to make any sale of Collateral. Such notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state
the board or exchange at which such sale is to be made and the day on which the Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary
business hours and at such place or places as the Collateral Trustee may reasonably fix and state in the notice (if any) of such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in
separate parcels, as the Collateral Trustee may reasonably determine. The Collateral Trustee shall not be obligated to make any sale of any Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such Collateral
shall have been given. The Collateral Trustee may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and such sale may, without
further notice, be made at the time and place to which the same was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained by the Collateral Trustee until
the sale price is paid by the purchaser or purchasers thereof, but the Collateral Trustee shall not incur any liability in case any such purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such
failure, such Collateral may be sold again upon like 

  
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notice. At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any First-Lien Secured Party may bid for or purchase, free (to the extent permitted by
applicable law) from any right of redemption, stay, valuation or appraisal on the part of any Grantor (all said rights being also hereby waived and released to the extent permitted by applicable law) the Collateral or any part thereof offered for
sale and may make payment on account thereof by using any claim then due and payable to such First-Lien Secured Party from any Grantor as a credit against the purchase price, and such First-Lien Secured Party may, upon compliance with the terms of
sale, hold, retain and dispose of such property to the fullest extent permitted by applicable law. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Trustee may proceed by a suit or suits at law or in equity
to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to the
provisions of this Section 5.01 shall be deemed to conform to the commercially reasonable standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 

Upon the occurrence and during the continuance of an Event of Default, no Grantor will, without the Collateral Trustee’s prior written
consent, grant any extension of the time of payment of any Accounts included in the Article 9 Collateral, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment
thereof or allow any credit or discount whatsoever thereon; provided that, so long as no Specified Default has occurred and is continuing, a Grantor may grant or make extensions, credits, discounts, compromises, compoundings or settlements
granted or made in the ordinary course of business or in accordance with such prudent and standard practice used in industries that are the same as or similar to those in which such Grantor is engaged. 

SECTION 5.02. Application of Proceeds. The Collateral Trustee shall apply the proceeds of any collection, sale, foreclosure or
other realization upon any Collateral, including any Collateral consisting of cash, in accordance with Section 4 of the Intercreditor Agreement. 

SECTION 5.03. Grant of License to Use Intellectual Property. For the purpose of enabling the Collateral Trustee to exercise
rights and remedies under this Agreement at such time as the Collateral Trustee shall be lawfully entitled to exercise such rights and remedies, each Grantor hereby grants to the Collateral Trustee an irrevocable, nonexclusive license (exercisable
without payment of royalty or other compensation to the Grantors), to use, license or sublicense any of the Article 9 Collateral consisting of Intellectual Property now owned or hereafter acquired by such Grantor, and wherever the same may be
located, and including in such license access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof. The use of such license by the Collateral
Trustee may be exercised, at the option of the Collateral Trustee, only upon the occurrence and during the continuation of an Event of Default; provided, however, that any license, sublicense or other transaction entered into by the
Collateral Trustee in accordance herewith shall be binding upon each Grantor notwithstanding any subsequent cure of an Event of Default. 

SECTION 5.04. Securities Act, Etc. In view of the position of the Grantors in relation to the Pledged Collateral, or because of
other current or future circumstances, a question may arise under the U.S. Securities Act of 1933, as now or hereafter in effect, or any similar statute hereafter enacted analogous in purpose or effect (such Act and any such similar statute as from
time to time in effect being called the “Federal Securities Laws”) with respect to any disposition of the Pledged Collateral permitted hereunder. Each Grantor understands that compliance with the Federal Securities Laws might
very strictly limit the course of conduct of the Collateral Trustee if the Collateral Trustee were to attempt to dispose of all or any part of the Pledged Collateral, and might also limit the extent to which or the manner in which any subsequent
transferee of any Pledged Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Collateral Trustee in any attempt to dispose of all or part of the Pledged Collateral under applicable
“blue sky” or other state securities laws or similar laws 

  
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analogous in purpose or effect. Each Grantor recognizes that in light of such restrictions and limitations the Collateral Trustee may, with respect to any sale of the Pledged Collateral, limit
the purchasers to those who will agree, among other things, to acquire such Pledged Collateral for their own account, for investment, and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that in light of
such restrictions and limitations, the Collateral Trustee, in its reasonable discretion (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering such Pledged Collateral or part thereof shall
have been filed under the Federal Securities Laws and (b) may approach and negotiate with a limited number of potential purchasers (including a single potential purchaser) to effect such sale. Each Grantor acknowledges and agrees that any such
sale might result in prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Collateral Trustee shall incur no responsibility or liability for selling all
or any part of the Pledged Collateral at a price that the Collateral Trustee may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have been realized if the sale were
deferred until after registration as aforesaid or if more than a limited number of purchasers (or a single purchaser) were approached. The provisions of this Section 5.04 will apply notwithstanding the existence of a public or private market
upon which the quotations or sales prices may exceed substantially the price at which the Collateral Trustee sells. 
 ARTICLE VI. 

Indemnity, Subrogation and Subordination 

SECTION 6.01. Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Grantors may have
under applicable law (but subject to Section 6.03), each Grantor agrees that (a) in the event a payment shall be made by any Grantor under this Agreement on behalf of another Grantor (such other Grantor, the “Primary
Grantor”), such Primary Grantor shall indemnify such Grantor for the full amount of such payment and such Grantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment
and (b) in the event any assets of any Grantor shall be sold pursuant to this Agreement or any other Security Document to satisfy in whole or in part a claim of any First-Lien Secured Party against a Primary Grantor, such Primary Grantor shall
indemnify such Grantor in an amount equal to the greater of the book value or the fair market value of the assets so sold. 
 SECTION 6.02.
Contribution and Subrogation. Each Grantor (a “Contributing Grantor”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Grantor hereunder in respect of any Obligation,
or assets of any other Grantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any First-Lien Secured Party, and such other Grantor (the “Claiming Grantor”) shall not have been fully
indemnified by a Primary Grantor as provided in Section 6.01, the Contributing Grantor shall indemnify the Claiming Grantor in an amount equal to the amount of such payment multiplied by a fraction of which the numerator shall be the net worth
of the Contributing Grantor on the date hereof and the denominator shall be the aggregate net worth of all the Grantors on the date hereof (or, in the case of any Grantor becoming a party hereto pursuant to Section 7.14, the date of the
supplement hereto executed and delivered by such Grantor). Any Contributing Grantor making any payment to a Claiming Grantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Grantor under Section 6.01 to the
extent of such payment. 
 SECTION 6.03. Subordination. 

(a) Notwithstanding any provision of this Agreement to the contrary, all rights of the Grantors under Sections 6.01 and 6.02 and all other
rights of indemnity, contribution or subrogation under applicable law or otherwise shall be fully subordinated to the Discharge of Obligations in accordance with 

  
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the Intercreditor Agreement and no Grantor shall execute any such subrogation or contribution right prior to the Discharge of Obligations. No failure on the part of the Borrower or any Subsidiary
Guarantor to make the payments required by Sections 6.01 and 6.02 (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Subsidiary Guarantor with respect to its
obligations hereunder, and each Subsidiary Guarantor shall remain liable for the full amount of its obligations hereunder. 
 (b) The
Borrower and each Subsidiary Guarantor hereby agree that all Indebtedness and other monetary obligations owed by it to the Borrower or any Subsidiary shall be fully subordinated to the Discharge of Obligations in accordance with the Intercreditor
Agreement. 
 ARTICLE VII. 

Miscellaneous 
 SECTION 7.01.
Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in writing and given as provided in Section 9.7 of the Intercreditor Agreement. All communications and notices hereunder
to any Subsidiary Guarantor shall be given to it in care of the Borrower as provided in Section 9.7 of the Intercreditor Agreement in which case such Subsidiary Guarantor shall be deemed to have received such notice. 

SECTION 7.02. Security Interest Absolute. All rights of the Collateral Trustee hereunder, the Security Interest, the grant of a
security interest in the Pledged Collateral and all obligations of each Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any Other Credit Agreement, any
Reimbursement Agreement, any other Financing Document, any agreement with respect to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in
any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement, any other Financing Document or any other
agreement or instrument relating to the foregoing, (c) any exchange, release or non-perfection of any Lien on Collateral or any other collateral, or any release or amendment or waiver of or consent under or departure from any guarantee,
securing or guaranteeing all or any of the Obligations, or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Grantor in respect of the Obligations or this Agreement. 

SECTION 7.03. Survival of Agreement. All covenants, agreements, representations and warranties made by the Credit Parties in the
Financing Documents and in the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Financing Document shall be considered to have been relied upon by the other First-Lien Secured
Parties and shall survive the execution and delivery of the Financing Documents and the making of any loans, extensions of credit, issuances of letters of credit, hedging arrangements or other financial accommodations, regardless of any
investigation made by any other First-Lien Secured Parties on its behalf and notwithstanding that the Collateral Trustee or any other First-Lien Secured Parties may have had notice or knowledge of any Default under any Financing Document, Event of
Default or incorrect representation or warranty at the time any loans, extensions of credit, issuances of letters of credit, hedging arrangements or financial accommodations are extended under any Financing Document, and shall continue in full force
and effect as long as any Obligations are outstanding and unpaid. 

  
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 SECTION 7.04. Binding Effect; Several Agreement; Certain References. 

(a) This Agreement shall become effective as to any Grantor party hereto when a counterpart hereof executed on behalf of such Grantor shall
have been delivered to the Collateral Trustee and a counterpart hereof shall have been executed on behalf of the Collateral Trustee, and thereafter shall be binding upon such Grantors and the Collateral Trustee and their respective permitted
successors and assigns, and shall inure to the benefit of such Grantor, the Collateral Trustee and the other First-Lien Secured Parties and their respective successors and assigns, except that no Grantor shall have the right to assign or transfer
its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer shall be void) except as expressly contemplated or permitted by this Agreement, the Credit Agreement, any Other Credit Agreement and
any Reimbursement Agreement and permitted (if addressed therein or, otherwise, not prohibited) by the other applicable Financing Documents. This Agreement shall be construed as a separate agreement with respect to each Grantor party hereto and may
be amended, modified, supplemented, waived or released with respect to any such Grantor without the approval of any other Grantor party hereto and without affecting the obligations of any other such Grantor hereunder. 

(b) References in this Agreement to “Other Credit Agreement,” “Other Administrative Agent,” “Issuing Bank,”
“L/C Issuer,” “Other Lenders” and “Reimbursement Agreement” shall be effective upon compliance with the requirements set forth in Section 9.2(d) of the Intercreditor Agreement. 

SECTION 7.05. Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall
be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Grantor or the Collateral Trustee that are contained in this Agreement shall bind and inure to the benefit of
their respective successors and assigns. 
 SECTION 7.06. Collateral Trustee’s Fees and Expenses; Indemnification. 

(a) Each Grantor agrees, on a joint and several basis, to pay or reimburse (as applicable) the Collateral Trustee for all its reasonable and
documented out-of-pocket expenses (including the reasonable fees, charges and disbursements of counsel for the Collateral Trustee and of a single local counsel in each relevant jurisdiction) incurred in collecting against a Grantor under the
Guaranty or otherwise enforcing or protecting any rights or remedies of the Collateral Trustee under this Agreement or the other Financing Documents including all reasonable and documented out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of the Obligations, in each case within fifteen (15) days of receipt by the applicable Grantor of a written demand therefor. 

(b) Without limitation of its indemnification obligations under the other Financing Documents, each Grantor jointly and severally agrees to
indemnify the Collateral Trustee and its directors, officers, employees, partners, agents and other representatives and their respective successors (each such Person being called an “Indemnitee”) against, and hold each
Indemnitee harmless from any and all losses, claims, damages, liabilities, penalties, actions, judgments, suits, costs and related reasonable out-of-pocket expenses (including the reasonable fees, charges and disbursements of a single counsel for
the Collateral Trustee and of a single local counsel in each relevant jurisdiction), and shall indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements, incurred by any Indemnitee or asserted against any
Indemnitee by any Person (including the Borrower or any other Credit Party) arising out of, or in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Financing Document or any agreement or instrument
contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby or (ii) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, 

  
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whether brought by a third party or by any Grantor, 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, penalties, actions, judgments, suits, costs or reasonable expenses (x) are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from
the gross negligence, bad faith or willful misconduct of such Indemnitee or (y) are owed with respect to disputes between and among Indemnitees (other than disputes against any Indemnitee in its capacity as Collateral Trustee or any other Agent
or Secured Debt Representative) and not arising out of any act or omission of the Borrower or any of its respective Subsidiaries. To the extent permitted by applicable law, no party hereto shall assert, and each party hereto hereby waives any claim
against any Grantor or Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement
or instrument contemplated hereby, the Transaction, any Loan or use of proceeds; provided that such waiver shall not include or affect in any way the obligations of the Borrower to indemnify the Indemnitees as set forth in this Section 7.06.

 If for any reason the foregoing indemnification is unavailable to an Indemnitee or insufficient to hold it harmless, then the Grantors
will contribute to the amount paid or payable by such Indemnitee as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative economic interests of (i) such Grantor and their respective
Subsidiaries, Affiliates, shareholders, partners, members or other equity holders on the one hand and (ii) the Indemnitee on the other hand in the matters contemplated by the indemnities set forth in the preceding paragraph as well as the
relative fault of (x) such Grantors and their respective Subsidiaries, Affiliates, shareholders, partners, members or other equity holders on the one hand and (y) the Indemnitee with respect to such loss, claim, damage or liability and any
other relevant equitable considerations. The indemnity and contribution obligations of the Grantors under this paragraph will be in addition to any liability which the Grantors may otherwise have and will be binding upon and inure to the benefit of
any successors and assigns of the Grantors, the Indemnitees, any such Subsidiaries and any such Affiliates. 
 (c) Any such amounts payable
as provided hereunder shall be additional Obligations secured hereby and by the other Security Documents. The provisions of this Section 7.06 shall remain operative and in full force and effect regardless of the termination of this Agreement or
any other Financing Document, the consummation of the transactions contemplated hereby, the repayment of any of the Obligations or the invalidity or unenforceability of any term or provision of this Agreement or any other Financing Document. All
amounts due under this Section 7.06 shall be payable on written demand therefor and shall bear interest, on and from the date of demand, at the rate specified in the Credit Agreement. 

SECTION 7.07. Collateral Trustee Appointed Attorney-in-Fact. Each Grantor hereby appoints the Collateral Trustee as the
attorney-in-fact of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Collateral Trustee may deem reasonably necessary or advisable to accomplish the purposes
hereof, which appointment is irrevocable and coupled with an interest (provided that in no such event shall such appointment extend beyond the termination of this Agreement). Without limiting the generality of the foregoing, the Collateral
Trustee shall have the right, upon the occurrence and during the continuance of an Event of Default, with full power of substitution either in the Collateral Trustee’s name or in the name of such Grantor (a) to receive, endorse, assign
and/or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof, (b) to demand, collect, receive payment of, give receipt for and give discharges and
releases of all or any of the Collateral, (c) to sign the name of any Grantor on any invoice or bill of lading relating to any of the Collateral, (d) to send verifications of Accounts Receivable to any Account Debtor, (e) to commence
and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of any Collateral, (f) to
settle, 

  
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compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral, (g) to notify, or to require any Grantor to notify, Account Debtors to make
payment directly to the Collateral Trustee, and (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Collateral, and to do all other acts and things necessary to carry out the
purposes of this Agreement in accordance with its terms, as fully and completely as though the Collateral Trustee were the absolute owner of the Collateral for all purposes; provided, however, that nothing herein contained shall be
construed as requiring or obligating the Collateral Trustee to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral Trustee, or to present or file any claim or notice, or to take any
action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Trustee and the other First-Lien Secured Parties shall be accountable only for amounts
actually received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own
gross negligence, willful misconduct or bad faith. 
 SECTION 7.08. Waivers; Amendment. 

(a) No failure or delay by the Collateral Trustee, the Administrative Agent or any other First-Lien Secured Party in exercising any right or
power hereunder or under any other Financing Document shall operate as a waiver hereof or 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 Collateral Trustee, the Administrative Agent and the other First-Lien Secured Parties hereunder and under the other Financing
Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Financing Document or consent to any departure by any Grantor therefrom shall in any event be effective unless
the same shall be permitted by paragraph (b) of this Section 7.08, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the
making of loans, extensions of credit, issuances of letters of credit, hedging arrangements or financial accommodations shall not be construed as a waiver of any Default under any Financing Document or Event of Default, regardless of whether the
Collateral Trustee or any other First-Lien Secured Party may have had notice or knowledge of such Default under any Financing Document or Event of Default at the time. No notice or demand on any Grantor in any case shall entitle any Grantor to any
other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any provision hereof may be waived,
amended or modified except pursuant to an agreement or agreements in writing entered into by the Collateral Trustee and the Grantors with respect to which such waiver, amendment or modification is to apply, subject to any consent required in
accordance with Section 5.2 or Section 9.3 of the Intercreditor Agreement. 
 SECTION 7.09. Severability. In the
event any one or more of the provisions contained in this Agreement or in any other Financing Document should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained
herein and therein shall not in any way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other
jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or
unenforceable provisions. 

  
 -25- 

 SECTION 7.10. Counterparts. This Agreement may be executed in any number of
counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. Delivery of a counterpart via
facsimile or other electronic transmission shall constitute delivery of an original counterpart. A set of counterparts executed by all the parties hereto shall be lodged with the Borrower and the Collateral Trustee. 

SECTION 7.11. Headings. The headings of the several sections and subsections of this Agreement are inserted for convenience only
and shall not in any way affect the meaning or construction of any provision of this Agreement. 
 SECTION 7.12. Applicable Law;
Jurisdiction; Consent to Service of Process; Waiver of Jury Trial. 
 (a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS TO THE EXTENT THAT THE SAME ARE NOT MANDATORILY APPLICABLE BY STATUTE AND WOULD REQUIRE OR
PERMIT THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION (OTHER THAN MANDATORY PROVISIONS OF THE UNIFORM COMMERCIAL CODE RELATING TO THE LAW GOVERNING PERFECTION AND THE EFFECT OF PERFECTION OF A SECURITY INTEREST). ANY LEGAL ACTION OR PROCEEDING
WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS
AGREEMENT, EACH PARTY HERETO HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH PARTY HERETO HEREBY FURTHER IRREVOCABLY WAIVES (TO THE EXTENT
PERMITTED BY APPLICABLE LAW) ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER SUCH PARTY, AND AGREES NOT TO PLEAD OR CLAIM, IN ANY LEGAL ACTION PROCEEDING WITH RESPECT TO THIS AGREEMENT BROUGHT IN ANY OF THE AFOREMENTIONED COURTS, THAT
SUCH COURTS LACK PERSONAL JURISDICTION OVER SUCH PARTY. EACH PARTY HERETO FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED
OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS SET FORTH OPPOSITE ITS SIGNATURE BELOW, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE
LAW) ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER THAT SERVICE OF PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN SHALL AFFECT
THE RIGHT OF (i) ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR (ii) THE ADMINISTRATIVE AGENT, ANY OTHER ADMINISTRATIVE AGENT, ANY LENDER, ANY OTHER LENDER, ANY L/C ISSUER OR THE HOLDER OF ANY NOTE TO COMMENCE
LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY GRANTOR IN ANY OTHER JURISDICTION. 
 (b) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES (TO
THE EXTENT PERMITTED BY APPLICABLE LAW) ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT BROUGHT

  
 -26- 

 
IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH
COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 (c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES (TO THE EXTENT
PERMITTED BY APPLICABLE LAW) ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 7.13. Termination or Release. 

(a) This Agreement, the guarantees made herein, the Security Interest, the pledge of the Pledged Collateral and all other security interests
granted hereby shall not terminate until the receipt of notice by the Collateral Trustee of the Discharge of Obligations in accordance with the Intercreditor Agreement. 

(b) A Subsidiary Guarantor shall automatically be released from its obligations hereunder and the Security Interests created hereunder in the
Collateral of such Subsidiary Guarantor shall be automatically released upon (i) the consummation of any transaction permitted by the Credit Agreement, any Other Credit Agreement and any Reimbursement Agreement and permitted (if addressed
therein or, otherwise, not prohibited) by the other applicable Financing Documents as a result of which such Subsidiary Guarantor ceases to be a Subsidiary or (ii) the designation of such Subsidiary as an Unrestricted Subsidiary or Excluded
Subsidiary pursuant to Section 9.11 of the Credit Agreement and any analogous section of any Other Credit Agreement and any Reimbursement Agreement. 

(c) Collateral shall be released in accordance with Section 5.1 of the Intercreditor Agreement. 

(d) In connection with any termination or release pursuant to paragraph (a), (b) or (c) above, the Collateral Trustee shall promptly
execute and deliver to any Grantor, at such Grantor’s expense, all Uniform Commercial Code termination statements and similar documents that such Grantor shall reasonably request to evidence such termination or release. Any execution and
delivery of documents pursuant to this Section 7.13 shall be without recourse to or representation or warranty by the Collateral Trustee or any First-Lien Secured Party. Without limiting the provisions of Section 7.06, the Borrower shall
reimburse the Collateral Trustee upon demand for all reasonable and documented costs and out of pocket expenses, including the fees, charges and expenses of counsel, incurred by it in connection with any action contemplated by this
Section 7.13. 
 SECTION 7.14. Additional Restricted Subsidiaries. Any Restricted Subsidiary (as defined in the Credit
Agreement) that is required to become a party hereto pursuant to the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement or any other Financing Document shall enter into this Agreement as a Subsidiary Guarantor and a Grantor
upon becoming such a Restricted Subsidiary. Upon execution and delivery by the Collateral Trustee and such Restricted Subsidiary of a supplement in the form of Exhibit A hereto, such Restricted Subsidiary shall become a Subsidiary Guarantor
and a Grantor hereunder with the same force and effect as if originally named as a Subsidiary Guarantor and a Grantor herein. The execution and delivery of any such instrument shall not require the consent of any other Grantor hereunder. The rights
and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor as a party to this Agreement. 

  
 -27- 

 SECTION 7.15. Intercreditor Agreement Controls. Notwithstanding anything herein to
the contrary, (a) the Lien and security interests granted pursuant to this Agreement and the exercise of any right or remedy hereunder are subject to the terms of the Intercreditor Agreement and (b) in the event of any conflict between the
terms hereof and the terms of the Intercreditor Agreement, the Intercreditor Agreement shall govern and control; provided that, for the avoidance of doubt, any provisions in this Agreement governing the creation and perfection of a security
interest in, or otherwise establishing the Collateral Trustee’s or First-Lien Secured Parties’ rights in, the Collateral shall govern and be of full force and effect, notwithstanding any provision to the contrary in the Intercreditor
Agreement. 
 SECTION 7.16. Effectiveness of Obligations of RJS Credit Parties. Notwithstanding anything to the contrary in
this Agreement, the obligations of each RJS Credit Party (as defined in Schedule 13.16 to the Credit Agreement) pursuant to this Agreement shall be deemed to be of no force or effect until the RJS Release Date (as defined in Schedule 13.16 to the
Credit Agreement) shall have occurred. The provisions of this Section 7.16 shall immediately terminate and be of no further force and effect as of the RJS Release Date and from and after such date the obligations of each RJS Credit Party shall
be effective to the extent provided herein. 
 [Remainder of page intentionally left blank] 

  
 -28- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
  

			
	PPL ENERGY SUPPLY, LLC, as Borrower
		
	By:		/s/ Russell R. Clelland
			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
			 SUBSIDIARY GUARANTORS:
  

	 BARNEY M. DAVIS, LP
  

	By: 		 TOPAZ POWER GROUP GP II, LLC
 its sole
General Partner
  

	By:		 TOPAZ POWER HOLDINGS, LLC
 its Managing
Member
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 BRANDON SHORES LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 C/R TOPAZ HOLDINGS, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 FORT ARMISTEAD ROAD - LOT 15 LANDFILL, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	 H.A. WAGNER LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 JADE POWER GENERATION HOLDINGS LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 LAREDO WLE, LP
  

	By:		 TOPAZ POWER GROUP GP II, LLC
 its sole
General Partner
  

	By:		 TOPAZ POWER HOLDINGS, LLC
 its Managing
Member
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 LOWER MOUNT BETHEL ENERGY, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	NUECES BAY WLE, LP
		
	By: 		 TOPAZ POWER GROUP GP II, LLC

 its sole
General Partner

		
	By: 		 TOPAZ POWER HOLDINGS, LLC

 its Managing
Member

		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PENNSYLVANIA MINES, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL BRUNNER ISLAND, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL ENERGYPLUS, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	PPL GENERATION, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL INVESTMENT CORPORATION
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: President
	
	PPL MARTINS CREEK, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL MONTOUR, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL SUSQUEHANNA, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	 RAVEN FS PROPERTY HOLDINGS LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN LOT 15 LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN POWER FINANCE LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN POWER FORT SMALLWOOD LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN POWER GENERATION HOLDINGS LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	 RAVEN POWER MARKETING LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN POWER OPERATING LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RJS POWER HOLDINGS LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RJS POWER LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 TOPAZ POWER GROUP GP II, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	 TOPAZ POWER GROUP LP II, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 TOPAZ POWER HOLDINGS, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	CITIBANK, N.A., as Collateral Trustee
		
	By:		/s/ Kirkwood Roland
			Name: Kirkwood Roland
			Title: Managing Director & Vice President

 Schedule I 

SCHEDULE I 
 GRANTOR
INFORMATION 
 Grantor Information 

Legal Names, Organizational Type, Jurisdictions of Organization and Organizational Identification Numbers 

 

							
	 Grantor
	  	Type of Organization
(e.g. corporation, limited
liability company, partnership)	  	Jurisdiction of
Organization /
Formation	  	Organizational
Identification
Number
		  		  		  	

 Schedule II 

SCHEDULE II 
 EQUITY
INTERESTS; PLEDGED DEBT SECURITIES 
 Equity Interests: 
  

													
	 Debtor/Grantor
	  	Issuer	  	Type of
Organization	  	# of
Shares
Owned	  	Total Shares
Issued and
Outstanding	  	% of
Interest
Pledged	  	Certificate No.
(if uncertificated,
please indicate so)
		  		  		  		  		  		  	

 Pledged Debt Securities: 

 Schedule III 

SCHEDULE III 

INTELLECTUAL PROPERTY 
 Part A —
Owned Intellectual Property 
  

							
	 Trademark
	 	 Filing Date/
Issued Date
	 	 Owner
	  	Application/ Registration No.
		 		 		  	

  

							
	 Copyright
	 	 Filing Date/
Issued Date
	 	 Owner
	  	Application/ Registration No.
		 		 		  	

 Patents 
 Part B —
Licensed Intellectual Property 

 Schedule IV 

SCHEDULE IV 
 CERTAIN
UNCERTIFICATED LIMITED LIABILITY COMPANY INTERESTS AND 
 LIMITED PARTNERSHIP INTERESTS 

 Exhibit A 

SUPPLEMENT NO. [·] dated as of [·], to the Guarantee and Collateral Agreement dated as of June 1, 2015 (the
“Guarantee and Collateral Agreement”), among PPL ENERGY SUPPLY, LLC, a Delaware limited liability company (the “Borrower”), each Restricted Subsidiary (as defined in the Credit Agreement referred to
below) of the Borrower from time to time party thereto (each such Restricted Subsidiary individually a “Subsidiary Guarantor” and collectively, the “Subsidiary Guarantors”; the Subsidiary Guarantors
and the Borrower are referred to collectively herein as the “Grantors”) and CITIBANK, N.A. (“Citi”), as collateral trustee (in such capacity, the “Collateral Trustee”) for the
First-Lien Secured Parties (as defined herein). 
 A. Reference is made to (i) the Credit Agreement dated as of June 1, 2015 (as
amended, restated, amended and restated, replaced, supplemented and/or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the lenders named therein (the “Lenders”), and
Citi, as Administrative Agent (in such capacity, the “Administrative Agent”) and Collateral Trustee for the Lenders, (ii) the credit agreement (as amended, restated, amended and restated, replaced or otherwise modified
and/or supplemented from time to time, the “Other Credit Agreement”), [which may be entered into on a future date] [dated as of [ ]], among the Borrower, Citicorp USA, Inc., as issuing bank (the “Issuing
Bank”), the lenders from time party thereto (together with the Issuing Bank, the “Other Lenders”), Citicorp USA, Inc., as administrative agent (in such capacity, the “Other Administrative
Agent”), and the Collateral Trustee, (iii) the reimbursement agreement (as amended, restated, amended and restated, replaced or otherwise modified and/or supplemented from time to time, the “Reimbursement
Agreement”), [which may be entered into on a future date] [dated as of [ ]], between the Borrower and Citibank, N.A. (the “L/C Issuer”), and (iv) the Collateral Trust and Intercreditor Agreement dated as of
June 1, 2015 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Intercreditor Agreement”), among the Borrower, the Administrative Agent, the Collateral Trustee,
the Subsidiaries of the Borrower from time to time party thereto and certain other Persons from time to time party thereto. 
 B.
Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Intercreditor Agreement, Credit Agreement or the Guarantee and Collateral Agreement referred to therein, as applicable. 

C. The Grantors have entered into the Guarantee and Collateral Agreement in order to induce the Lenders, [any] [each] Other Lender and [any]
[the] L/C Issuer to make Loans and issue letters of credit and certain other First-Lien Secured Parties to make extensions of credit to the Credit Parties under the Financing Documents. Section 7.14 of the Guarantee and Collateral Agreement
provides that additional Subsidiaries of the Borrower may become Subsidiary Guarantors and Grantors under the Guarantee and Collateral Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Restricted
Subsidiary (the “New Subsidiary”) is executing this Supplement in accordance with the requirements of the Credit Agreement, [any] [the] Other Credit Agreement and [any] [the] Reimbursement Agreement to become a Subsidiary
Guarantor and a Grantor under the Guarantee and Collateral Agreement in order to induce the Lenders, [any] [each] Other Lender and [any] [the] L/C Issuer to make additional Loans and issue additional letters of credit and certain other First-Lien
Secured Parties to make extensions of credit to the Credit Parties under the Financing Documents. 

 Accordingly, the Collateral Trustee and the New Subsidiary agree as follows: 

SECTION 1. In accordance with Section 7.14 of the Guarantee and Collateral Agreement, the New Subsidiary by its signature below becomes a
Grantor and Subsidiary Guarantor under the Guarantee and Collateral Agreement with the same force and effect as if originally named therein as a Grantor and Subsidiary Guarantor and the New Subsidiary hereby (a) agrees to all the terms and
provisions of the Guarantee and Collateral Agreement applicable to it as a Grantor and Subsidiary Guarantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Grantor and Subsidiary Guarantor
thereunder are true and correct in all material respects on and as of the date hereof. In furtherance of the foregoing, (i) the New Subsidiary unconditionally guarantees jointly with the other Guarantors and severally, as a primary obligor and
not merely as a surety, the due and punctual payment and performance of the Guaranteed Obligations and (ii) the New Subsidiary, as security for the payment and performance in full of the Obligations, does hereby create and grant to the
Collateral Trustee, its successors and assigns, for the benefit of the First-Lien Secured Parties, their successors and assigns, a security interest in and lien on all of the New Subsidiary’s right, title and interest in and to the Collateral.
Each reference to a “Grantor” or a “Subsidiary Guarantor” in the Guarantee and Collateral Agreement shall be deemed to include the New Subsidiary. The Guarantee and Collateral Agreement is hereby
incorporated herein by reference. 
 SECTION 2. The New Subsidiary represents and warrants to the Collateral Trustee and the other
First-Lien Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms except to the extent that
enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors’ rights generally or by general principles of equity (regardless of whether such enforcement is
considered in a proceeding in equity or at law). 
 The New Subsidiary hereby represents and warrants that set forth on Schedule I attached
hereto is a true and correct (a) legal name of such New Grantor, its jurisdiction of formation and the location of its chief executive office, (b) schedule of all the Pledged Securities and Instruments of such New Grantor (c) schedule
of all Commercial Tort Claims of such Grantor in an amount in excess of $5,000,000 individually (or $15,000,000 in the aggregate for all such amounts that are $5,000,000 or less) and (d) schedule of all Patents, registered Trademarks and
applications therefor, Copyright registrations and exclusive Copyright licenses. 
 SECTION 3. This Supplement may be executed in any number
of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. Delivery of a counterpart via
facsimile or other electronic transmission shall constitute delivery of an original counterpart. A set of counterparts executed by all the parties hereto shall be lodged with the Borrower and the Collateral Trustee. 

 SECTION 4. Except as expressly supplemented hereby, the Guarantee and Collateral Agreement shall
remain in full force and effect. 
 SECTION 5. (a) THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS TO THE EXTENT THAT THE SAME ARE NOT MANDATORILY APPLICABLE BY STATUTE AND WOULD REQUIRE OR PERMIT THE APPLICATION OF
THE LAW OF ANOTHER JURISDICTION (OTHER THAN MANDATORY PROVISIONS OF THE UNIFORM COMMERCIAL CODE RELATING TO THE LAW GOVERNING PERFECTION AND THE EFFECT OF PERFECTION OF A SECURITY INTEREST). ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS
SUPPLEMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS SUPPLEMENT, EACH PARTY
HERETO HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH PARTY HERETO HEREBY FURTHER IRREVOCABLY WAIVES (TO THE EXTENT PERMITTED BY
APPLICABLE LAW) ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER SUCH PARTY, AND AGREES NOT TO PLEAD OR CLAIM, IN ANY LEGAL ACTION PROCEEDING WITH RESPECT TO THIS SUPPLEMENT BROUGHT IN ANY OF THE AFOREMENTIONED COURTS, THAT SUCH COURTS
LACK PERSONAL JURISDICTION OVER SUCH PARTY. EACH PARTY HERETO FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED
MAIL, POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS SET FORTH OPPOSITE ITS SIGNATURE BELOW, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY
OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER THAT SERVICE OF PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN SHALL AFFECT THE RIGHT
OF (i) ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR (ii) THE ADMINISTRATIVE AGENT, ANY OTHER ADMINISTRATIVE AGENT, ANY LENDER, ANY OTHER LENDER, ANY L/C ISSUER OR THE HOLDER OF ANY NOTE TO COMMENCE LEGAL
PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY GRANTOR IN ANY OTHER JURISDICTION. 
 (b) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES (TO THE
EXTENT PERMITTED BY APPLICABLE LAW) ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS SUPPLEMENT BROUGHT IN THE COURTS REFERRED TO IN
CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

 (c) EACH OF THE PARTIES TO THIS SUPPLEMENT HEREBY IRREVOCABLY WAIVES (TO THE EXTENT PERMITTED BY
APPLICABLE LAW) ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS SUPPLEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 6. In the event any one or more of the provisions contained in this Supplement should be held invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular
jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 7. All
communications and notices hereunder shall be in writing and given as provided in Section 7.01 of the Guarantee and Collateral Agreement. All communications and notices hereunder to the New Subsidiary may be given to it in care of the Borrower
as provided in Section 7.01 of the Guarantee and Collateral Agreement. 
 SECTION 8. The New Subsidiary agrees to reimburse the
Collateral Trustee for its reasonable and documented out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Collateral Trustee. 

IN WITNESS WHEREOF, the New Subsidiary and the Collateral Trustee have duly executed this Supplement to the Guarantee and Collateral Agreement
as of the day and year first above written. 
  

			
	[NAME OF NEW SUBSIDIARY]
		
	By:		 
			Name:
			Title:

 
			
	CITIBANK, N.A., as Collateral Trustee
		
	By:		 
			Name:
			Title:

 Schedule I to Exhibit A 

New Subsidiary Information 

Legal Names, Organizational Type, Jurisdictions of Organization and Organizational Identification Numbers 

 

							
	 New Subsidiary
	 	 Type of Organization (e.g.
corporation, limited
liability
company, partnership)
	 	 Jurisdiction of Organization/
Formation
	  	Organizational Identification
Number
		 		 		  	

 Schedule II to Exhibit A 

Equity Interests 
  

													
	 Debtor/Grantor
	  	Issuer	  	Type of
Organization	  	# of
Shares
Owned	  	Total
Shares
Issued and
Outstanding	  	% of
Interest
Pledged	  	Certificate No.
(if uncertificated,
please indicate so)
		  		  		  		  		  		  	

 Pledged Debt 

 Schedule III to Exhibit A 

Intellectual Property 
 Part A — Owned
Intellectual Property Patent 
 United States Patent Registrations 
  

							
	 Patent
	  	Filing Date/
Issued Date	  	Owner	  	Application/
Registration No.
	 Trademark
	  		  		  	
	 Copyright
	  		  		  	

 Part B — Licensed Intellectual PropertyEX-10.3

 Exhibit 10.3 

COLLATERAL TRUST AND INTERCREDITOR AGREEMENT 

Dated as of June 1, 2015 

Among 
 PPL ENERGY SUPPLY, LLC,

 THE SUBSIDIARY GUARANTORS PARTY HERETO FROM TIME TO TIME, 

CITIBANK, N.A., 
 as Administrative
Agent, 
 CITIBANK, N.A., 
 as
Collateral Trustee, 
 and 

EACH OTHER PERSON PARTY HERETO FROM TIME TO TIME 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 SECTION 1.
	  	 Definitions
	  	 	2	  
			
	 1.1
	  	 Defined Terms
	  	 	2	  
	 1.2
	  	 Computation of Time Periods; Other Definitional Provisions
	  	 	18	  
	 1.3
	  	 Certifications, Etc
	  	 	18	  
	 1.4
	  	 Construction
	  	 	19	  
			
	 SECTION 2.
	  	 Declaration of Trust; Acknowledgement of Security Interests
	  	 	19	  
			
	 2.1
	  	 Trust Estate
	  	 	19	  
	 2.2
	  	 Collateral Trustee
	  	 	19	  
	 2.3
	  	 Pari Passu
	  	 	19	  
	 2.4
	  	 Prohibition on Contesting Liens
	  	 	20	  
	 2.5
	  	 No New First-Priority Liens
	  	 	20	  
			
	 SECTION 3.
	  	 Enforcement
	  	 	20	  
			
	 3.1
	  	 Exercise of Remedies
	  	 	20	  
	 3.2
	  	 Enforcement of Liens
	  	 	20	  
			
	 SECTION 4.
	  	 Payments
	  	 	23	  
			
	 4.1
	  	 Application of Proceeds
	  	 	23	  
	 4.2
	  	 Limitations on Payment Post Default
	  	 	24	  
	 4.3
	  	 Turnover
	  	 	24	  
	 4.4
	  	 Debt Balances
	  	 	24	  
	 4.5
	  	 Other Credit Support
	  	 	25	  
			
	 SECTION 5.
	  	 Other Agreements
	  	 	25	  
			
	 5.1
	  	 Releases
	  	 	25	  
	 5.2
	  	 Amendments to Financing Documents; Class Voting
	  	 	26	  
	 5.3
	  	 Certain Actions
	  	 	27	  
	 5.4
	  	 Cash Collateral Accounts; Amounts Not Subject to Sharing
	  	 	28	  
	 5.5
	  	 Additional First-Lien Indebtedness Agreement.
	  	 	29	  
	 5.6
	  	 Secured Hedge Agreements and Secured Treasury Services Agreements
	  	 	30	  
	 5.7
	  	 Representative; Relationship
	  	 	31	  
			
	 SECTION 6.
	  	 Insolvency or Liquidation Proceedings
	  	 	31	  
			
	 6.1
	  	 Finance and Sale Issues
	  	 	31	  
	 6.2
	  	 Avoidance Issues
	  	 	32	  
	 6.3
	  	 Reorganization Securities
	  	 	32	  
	 6.4
	  	 Relief from the Automatic Stay
	  	 	32	  
	 6.5
	  	 Asset Dispositions in an Insolvency Proceeding
	  	 	32	  
	 6.6
	  	 Other Credit Support
	  	 	32	  

  
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	 SECTION 7.
		 Collateral Trustee
		 	33	  
			
	 7.1
		 Appointment
		 	33	  
	 7.2
		 Delegation of Duties
		 	33	  
	 7.3
		 Exculpatory Provisions
		 	34	  
	 7.4
		 Non-Reliance on Collateral Trustee and Other First-Lien Secured Parties
		 	35	  
	 7.5
		 Collateral Trustee in Individual Capacity
		 	36	  
	 7.6
		 Successor Collateral Trustee
		 	36	  
	 7.7
		 Security Documents
		 	37	  
	 7.8
		 Indemnification
		 	37	  
	 7.9
		 No Risk of Funds
		 	38	  
			
	 SECTION 8.
		 Reliance; Waivers; Etc
		 	38	  
			
	 8.1
		 Reliance
		 	38	  
	 8.2
		 No Warranties or Liability
		 	38	  
	 8.3
		 No Waiver
		 	38	  
	 8.4
		 Obligations Unconditional
		 	39	  
			
	 SECTION 9.
		 Miscellaneous
		 	39	  
			
	 9.1
		 Conflicts
		 	39	  
	 9.2
		 Effectiveness; Continuing Nature of this Agreement; Severability
		 	39	  
	 9.3
		 Amendments; Waivers
		 	40	  
	 9.4
		 Voting
		 	40	  
	 9.5
		 Information Concerning Financial Condition of the Credit Parties
		 	41	  
	 9.6
		 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVERS
		 	41	  
	 9.7
		 Notices
		 	42	  
	 9.8
		 Further Assurances; Insurance
		 	43	  
	 9.9
		 Binding on Successors and Assigns
		 	43	  
	 9.10
		 Specific Performance
		 	43	  
	 9.11
		 Headings
		 	43	  
	 9.12
		 Counterparts
		 	43	  
	 9.13
		 Authorization
		 	43	  
	 9.14
		 No Third Party Beneficiaries
		 	43	  
	 9.15
		 Provisions Solely to Define Relative Rights
		 	43	  
	 9.16
		 Additional Guarantors
		 	44	  
	 9.17
		 Rights under Hedges
		 	44	  
	 9.18
		 Insolvency
		 	44	  
	 9.19
		 Rights and Immunities of Secured Debt Representatives
		 	44	  

 ANNEXES 
  

					
	Annex I		        –        		Notices
	Annex II		        –        		Existing Commodity Hedging Agreements

 EXHIBITS 
  

					
	Exhibit A		        –        		Form of Accession Agreement
	Exhibit B		        –        		Form of Additional Guarantor Accession Agreement

  
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 COLLATERAL TRUST AND INTERCREDITOR AGREEMENT 

This COLLATERAL TRUST AND INTERCREDITOR AGREEMENT (this “Agreement”) is dated as of June 1, 2015,
and entered into by and among PPL ENERGY SUPPLY, LLC, a Delaware limited liability company (the “Borrower”), the Subsidiary Guarantors (as defined below), CITIBANK, N.A., in its capacity as collateral trustee for the
First-Lien Secured Parties (as defined below), CITIBANK, N.A., as Administrative Agent (as defined below) and each of the other Persons (as defined below) party hereto from time to time in accordance with the terms hereof. Capitalized terms used in
this Agreement have the meanings assigned to them in Section 1 below. 
 PRELIMINARY STATEMENT 

(1) The Borrower, the lenders party thereto from time to time (the “Lenders”), Citibank N.A., as
administrative agent (in such capacity, and including any successor administrative agent thereto, the “Administrative Agent”), Citibank N.A., as collateral trustee (in such capacity, and including any successor Collateral
Trustee thereto, the “Collateral Trustee”), and each other Person from time to time party thereto, are entering into a Credit Agreement, dated as of the date hereof (as amended, modified, restated or supplemented from time to
time, the “Credit Agreement”), which provides, among other things, for the provision of the borrowing of up to $1,850 million pursuant to a revolving credit facility. 

(2) the Borrower, Citicorp USA, Inc., as issuing bank (the “Issuing Bank”), the lenders from time party
thereto (together with the Issuing Bank, the “Other Lenders”) and Citicorp USA, Inc., as administrative agent (in such capacity, and including any successor administrative agent thereto, the “Other Administrative
Agent”), and the Collateral Trustee may enter into a credit agreement (as amended, restated, amended and restated, replaced or otherwise modified and/or supplemented from time to time, the “Other Credit
Agreement”) on a future date on which the Other Administrative Agent, the Borrower and the other parties thereto comply with Section 9.2(d) hereof (the “Other Credit Agreement Effective Date”).

 (3) the Borrower and Citibank, N.A., as letter of credit issuer under the Reimbursement Agreement referred to below
(the “L/C Issuer”) may enter into a reimbursement agreement on the Other Credit Agreement Effective Date (as amended, restated, amended and restated, replaced or otherwise modified and/or supplemented from time to time, the
“Reimbursement Agreement”). 
 (4) Pursuant to the Guarantee and Collateral Agreement, the Subsidiary
Guarantors have guaranteed the Borrower’s obligations under the Financing Documents. 
 (5) The Credit Parties may from time to time
enter into Secured Commodity Hedges, Secured Interest Rate Hedges, Secured Treasury Services Agreements, Secured Trading Facilities (as defined in the Credit Agreement), Permitted First Priority Refinancing Debt (as defined in the Credit Agreement),
Permitted Second Priority Refinancing Debt (as defined in the Credit Agreement) or other Additional First-Lien Indebtedness Agreements which may be secured by Liens on the Collateral to the extent permitted under the Financing Documents as then in
effect and the relevant counterparties have executed and delivered an Accession Agreement to be joined as a party to this Agreement. 

(6)(a) The obligations of the Borrower under the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement, the Guarantee
and Collateral Agreement and under each Secured Commodity Hedge, each Secured Interest Rate Hedge, each Secured Treasury Services Agreement, Permitted First Priority Refinancing Debt or Permitted Second Priority Refinancing Debt to which it is a
party and (b) the obligations of each Subsidiary Guarantor under the Guarantee and Collateral Agreement and under each Secured Commodity Hedge, each Secured Interest Rate Hedge, each Secured Treasury

  
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Services Agreement and any Permitted First Priority Refinancing Debt to which it is a party, in each case will be secured on a first-priority basis by Liens on the Collateral pursuant to the
terms of the Security Documents. 
 (7) The Financing Documents provide, among other things, that the parties thereto shall set forth in
this Agreement their respective rights and remedies with respect to the Collateral and certain other matters. 
 (8) In order to induce the
First-Lien Secured Parties to enter into the transactions contemplated by the Financing Documents, each of the parties hereto has agreed to the agency, intercreditor and other provisions set forth in this Agreement. 

AGREEMENT 
 In
consideration of the foregoing, the mutual covenants and obligations herein set forth and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound,
hereby agree as follows: 
 SECTION 1. Definitions. 

1.1 Defined Terms. As used in this Agreement, the following terms shall have the following meanings: 

“Acceptable Commodity Counterparty” shall mean any Person who, at the time the applicable Eligible
Commodity Hedging Agreement is entered into, (i) in the ordinary course purchases or sells power or enters into commodity transactions and (ii)(A) has a corporate rating of BBB- or higher by S&P or a corporate family rating of Baa3 or
higher by Moody’s (or an equivalent rating by another nationally recognized statistical rating organization of similar standing if either of such ratings agencies is not then in the business of providing such ratings), or (B) whose
obligations are supported by collateral, guarantees or letters of credit in a manner consistent with the then prevailing industry practice from Persons that have the ratings described in clause (A) above. 

“Acceptable Financial Counterparty” shall mean any Person who, at the time the applicable Eligible
Commodity Hedging Agreement is entered into, (a) in the ordinary course enters into financial derivative transactions (including rate swaps, commodity hedges, swaps, futures or options) or commodity transactions (including power purchase or
sale or gas purchase or sale and tolling agreements) or provides treasury services or cash management services and (b)(i) has a corporate rating of A- or higher by S&P or a corporate family rating of A3 or higher by Moody’s (or an
equivalent rating by another nationally recognized statistical rating organization of similar standing if either of such rating agencies is not then in the business of providing such ratings), or (ii) whose obligations are supported by
collateral, guarantees or letters of credit in a manner consistent with the then prevailing industry practice from Persons that have the ratings described in clause (i) above. 

“Accession Agreement” shall mean an Accession Agreement substantially in the form attached hereto as
Exhibit A, or such other form reasonably approved by the Collateral Trustee and the Borrower. 

“Additional First-Lien Indebtedness Agreement” shall mean any pari passu secured first-lien credit
agreement, credit facility agreement, letter of credit facility agreement, indenture, note purchase agreement, secured trading facility (including, to the extent applicable, the Secured Trading Facility) or other similar agreement entered into by a
Credit Party to the extent permitted by Section 10.01 and Section 10.04 of the Credit Agreement. 

  
 -2- 

 “Additional First-Lien Indebtedness” shall mean
indebtedness incurred pursuant to each Additional First-Lien Indebtedness Agreement (including any guarantees thereof by the Credit Parties) entered into by one or more Credit Parties after the date hereof which (i) requires that the
obligations of the Credit Parties thereunder be secured on a pari passu basis by first-priority Lien on the Collateral and (ii) is permitted (if addressed therein, or, otherwise not prohibited) by the Financing Documents at the time such
Additional First-Lien Indebtedness Agreement is entered into, to be secured by a first-priority Lien on the Collateral; provided that, with respect to each Additional First-Lien Indebtedness, the applicable Secured Debt Representative on
behalf of the creditors thereto shall have executed and delivered to the Collateral Trustee an Accession Agreement in accordance with the provisions of this Agreement pursuant to which such applicable Secured Debt Representative has become a party
to this Agreement and agreed (on its behalf and on behalf of the applicable secured creditors) to be bound by the obligations of a First-Lien Secured Party under the terms hereof. 

“Additional First-Lien Obligations” shall mean all Obligations under, or with respect to, any Additional
First-Lien Indebtedness Agreement. 
 “Additional Guarantor Accession Agreement” shall
mean an accession agreement substantially in the form of Exhibit B. 
 “Administrative
Agent” shall have the meaning specified in the preliminary statement to this Agreement. 

“Affiliate” shall mean, with respect to any specified Person, any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power
to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled
by” and “under common control with” have correlative meanings. 
 “Agent”
shall mean the Collateral Trustee, the Administrative Agent, any Other Administrative Agent and any other Secured Debt Representative that is an administrative agent or collateral trustee under an Additional First-Lien Indebtedness Agreement, as the
context may require. 
 “Agreement” shall mean this Collateral Trust and Intercreditor
Agreement. 
 “Asset Sale” shall mean a sale, lease (as lessor), sale and leaseback,
assignment, conveyance, exclusive license (as licensor), transfer or other disposition to, or any exchange of Property with, any Person, in one transaction or a series of transactions, of all or part of the Credit Parties’ Properties, whether
now owned or hereafter acquired, leased or licensed, to the extent such sale, lease, sale and leaseback, assignment, conveyance, license, transfer or other disposition not prohibited (if addressed therein, or, otherwise not prohibited) under the
terms of the Financing Documents then in effect. 
 “Attributable Debt” shall mean, in
respect of a sale and leaseback transaction, at the time of determination, the present value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction including any
period for which such lease has been extended or may, at the option of the lessor, be extended. Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with
GAAP; provided, however, that if such sale and leaseback transaction results in a Capital Lease Obligation, the amount of Indebtedness represented thereby will be determined in
accordance with the definition of “Capital Lease Obligation.” 

  
 -3- 

 “Authorized Officer” shall mean, with respect to delivering
financial information (including, without limitation, calculations of “Fair Market Value”) and Officer’s Certificates and any other matters in connection with this Agreement or any applicable Financing Documents, the chief executive
officer, the president, the chief financial officer, the treasurer, the assistant treasurer, the principal accounting officer, the general counsel, assistant general counsel, any senior vice-president or any vice-president or any other responsible
financial officer or accounting officer of the Borrower or any other person of the Borrower having substantially the same responsibilities as the aforementioned officers. 

“Bankruptcy Code” shall mean Title 11 of the United States Code entitled “Bankruptcy,” as now
or hereafter in effect or any successor statute. 
 “Board of Directors” shall
mean: 
 (a) with respect to a corporation, the board of directors of the corporation or any committee thereof
duly authorized to act on behalf of such board; 
 (b) with respect to a partnership, the Board of Directors of the general
partner of the partnership; 
 (c) with respect to a limited liability company, the managing member or members or any
controlling committee of managing members thereof; and 
 (d) with respect to any other Person, the board or committee of
such Person serving a similar function. 
 “Borrower” shall have the meaning specified in the
introductory statement to this Agreement. 
 “Breakage Costs” shall mean, with respect to
any borrowing of a loan under the Credit Agreement, any Other Credit Agreement or any Additional First-Lien Indebtedness Agreement, the loss, cost and expense attributable to (a) the prepayment of the principal amount of such loan on any date
other than on the last day of the applicable interest period for such loan or (b) the revocation by the applicable Credit Party of any notice of borrowing or notice of issuance submitted pursuant to the Credit Agreement, any Other Credit
Agreement or any Additional First-Lien Indebtedness Agreement, after the applicable minimum period for the submission of such notice of borrowing or notice of issuance, as applicable, specified therein, any default in the making of any prepayment
required to be made thereunder after notice of such prepayment has been delivered by the applicable Credit Party or the failure of the conditions precedent to be met after delivery of any such notice of borrowing or notice of issuance.

 “Business Day” shall mean any day except Saturday, Sunday and any day which shall be in New
York, New York, a legal holiday or a day on which banking institutions are authorized or required by law or other government action to close. 

“Capital Lease Obligations” shall mean, at the time any determination is to be made, the amount of the
liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under
such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty. 

“Capital Stock” shall mean: 

(a) in the case of a corporation, corporate stock; 

  
 -4- 

 (b) in the case of an association or business entity, any and all shares,
interests, participations, rights or other equivalents (however designated) of corporate stock; 
 (c) in the case of a
partnership or limited liability company, partnership interests (whether general or limited) or membership interests; and 

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

“CERCLA” shall mean the Comprehensive Environmental Response, Compensation, and Liability Act.

 “Closing Date” shall mean June 1, 2015. 

“Collateral” shall mean all property with respect to which any security interest has been granted (or
purported to be granted) in favor of the Collateral Trustee, for the benefit of the First-Lien Secured Parties, pursuant to any Security Document. For the avoidance of doubt, Collateral shall not include any Excluded Assets. 

“Collateral Trustee” shall have the meaning specified in the preliminary statement to this
Agreement. 
 “Commodity Exchange Act” shall mean the Commodity Exchange Act (7 U.S.C.
§ 1 et seq.), as amended from time to time, and any successor statute. 
 “Commodity Hedging
Agreement” shall mean any agreement (including each confirmation entered into pursuant to any master agreement) providing for swaps, caps, collars, puts, calls, floors, futures, options, spots, forwards, power purchase or sale
agreements, fuel purchase or sale agreements, tolling agreements, emissions credit purchase or sales agreements, power transmission agreements, fuel transportation agreements, fuel storage agreements, netting agreements, commercial or trading
agreements, weather derivatives agreements, each with respect to, or involving the purchase, transmission, distribution, sale, lease or hedge of, any energy, generation capacity or fuel, or any other energy or weather related commodity, service or
risk, price or price indices for any such commodities, services or risks or any other similar derivative agreements, any renewable energy credits, carbon emission credits and any other “cap and trade” related credits, assets or attributes
with an economic value and any other similar agreements, entered into by the Borrower or any Restricted Subsidiary. 

“Credit Agreement” shall have the meaning specified in the preliminary statement to this Agreement.

 “Credit Agreement Obligations” shall mean the “Obligations”, as defined in the
Credit Agreement. 
 “Credit Parties” shall mean the Borrower and each Subsidiary
Guarantor. 
 “Debtor Relief Laws” shall mean the Bankruptcy Code of the United States of
America, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable
jurisdictions from time to time in effect. 

  
 -5- 

 “DIP Financing” shall have the meaning specified in
Section 6.1. 
 “Discharge of Obligations” shall mean, except to the extent
otherwise expressly provided in Section 6.2: 
 (a) that a Discharge of Specific Debt has occurred with
respect to each Series of Secured Debt; 
 (b) that a Discharge of Specific Secured Hedge Agreement has occurred with respect
to each Secured Hedge Agreement; and 
 (c) payment in full in cash of all other Obligations (including Obligations under
Secured Treasury Services Agreements) that are outstanding and unpaid at the time clauses (a), (b) and (c) are satisfied (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in
respect of which no claim or demand for payment has been made at such time). 
 “Discharge of Specific
Debt” shall mean, with respect to any Series of Secured Debt, the occurrence of each of the following with respect to such Series of Secured Debt: 

(a) termination or expiration of all commitments to extend credit that would constitute such Series of Secured Debt; 

(b) payment in full in cash of the principal of (other than with respect to undrawn letters of credit, but including
unreimbursed amounts under any drawn letters of credit) and interest, fees and premium (if any) on such Series of Secured Debt; 

(c) with respect to any undrawn letters of credit either (x) discharge or cash collateralization or back-stopping (at the
lower of (A) 103% of the aggregate undrawn amount (or such lower amount agreed to by the issuer of such outstanding letter of credit) and (B) the percentage of the aggregate undrawn amount required for release of Liens under the terms of
the applicable Financing Document) of all outstanding letters of credit issued pursuant to such Series of Secured Debt; (y) the deemed reissuance with the consent of the issuer of such outstanding letters of credit and any holder of the related
Series of Secured Debt that has reimbursement obligations with respect to such outstanding letters of credit under another credit facility (whether or not such credit facility constitutes a Series of Secured Debt hereunder), provided that if
such letters of credit are deemed reissued under another Series of Secured Debt hereunder then they will be outstanding under such other Series of Secured Debt hereunder); or (z) the issuer of each such letter of credit has notified the
Collateral Trustee in writing that alternative arrangements satisfactory to such issuer and holders of the related Series of Secured Debt that has reimbursement obligations with respect thereto have been made; and 

(d) payment in full in cash of all other Obligations owing under the Financing Documents for such Series of Secured Debt that
are outstanding and unpaid at the time that the requirements of clauses (a) through (c) above are satisfied (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which
no claim or demand for payment has been made at such time). 
 “Discharge of Specific Secured Hedge
Agreement” shall mean with respect to any given Secured Hedge Agreement: (a) all Obligations in respect of such Secured Hedge Agreement have been paid in full in accordance with the terms thereof and all transactions entered into
under such Secured Hedge  

  
 -6- 

 
Agreement have expired or have been terminated or (b) alternative collateral arrangements or other arrangements satisfactory to the Eligible Commodity Hedging Counterparty or
Interest Rate Hedge Bank, as applicable, have been made and the Collateral Trustee has been notified in writing of such event by such Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank (other than, in the case of clause (a) or
(b), any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has been made at such time). 

“Early Termination Event” shall mean, with respect to any Secured Hedge Agreement, the occurrence of an
Early Termination Date or the date of any applicable termination pursuant to a termination event under such Secured Hedge Agreement (as defined in such Secured Hedge Agreement) under any such Secured Hedge Agreement which has resulted in the
termination of all transactions or all affected transactions under such Secured Hedge Agreement. 

“Eligible Commodity Hedging Agreement” shall mean any Commodity Hedging Agreement entered into by the
Borrower or any Restricted Subsidiary with an Eligible Commodity Hedging Counterparty, which, individually or together with other Commodity Hedging Agreements (other than Commodity Hedging Agreements that are either unsecured, are supported by
letters of credit or Guarantees from Persons that are not Credit Parties (but, in each case, not secured by all or substantially all of the assets of any Credit Party)) entered into or being entered into with such counterparty or its affiliates, is
at the time entered into reasonably expected to hedge the anticipated exposure of the Borrower or the relevant Subsidiary Guarantor(s) to one or more commodity price risks relating to the business and operations of the Borrower or the relevant
Restricted Subsidiary; provided that any Commodity Hedging Agreement that is entered into to offset all or any portion of an outstanding Eligible Commodity Hedging Agreement shall constitute an Eligible Commodity
Hedging Agreement so long as, at the time entered into, such offsetting Commodity Hedging Agreement, together with all other outstanding Eligible Commodity Hedging Agreements, in the aggregate, are reasonably expected to hedge the anticipated
exposure of the Borrower or the relevant Restricted Subsidiary to one or more commodity price risks relating to the business and operations of the Borrower or the relevant Restricted Subsidiary. 

“Eligible Commodity Hedging Counterparty” shall mean (i) a counterparty to an Eligible Commodity
Hedging Agreement that, at the time the relevant Eligible Commodity Hedging Agreement is entered into, is either an Acceptable Commodity Counterparty or an Acceptable Financial Counterparty and (ii) each Existing Commodity Hedging Agreement
Counterparty. 
 “Eligible Hedge Amount” shall mean, as of any date of determination with
respect to any Secured Hedge Agreement, (a) if such date is prior to the occurrence of an Early Termination Event in respect of such Secured Hedge Agreement, the greater of (i) the Floor Amount (if any) applicable to such Secured Commodity
Hedge and (ii) an amount equal to (A) the Outstanding Amount (if any, calculated in accordance with subclause (b)(i) of that definition) applicable to such Secured Hedge Agreement at such time less
(B) (so long as no Other Credit Support Exception has occurred) the aggregate amount of Other Credit Support Amounts under any Other Credit Support issued or pledged in favor of the applicable Eligible Commodity Hedging
Counterparty or Interest Rate Hedge Bank to support the Obligations of the applicable Credit Party under such Secured Hedge Agreement and (b) if such date is on or after the occurrence of an Early Termination Event in respect of such Secured
Hedge Agreement, an amount equal to (i) the Outstanding Amount (if any, calculated in accordance with subclause (b)(ii) of that definition) applicable to such Secured Hedge Agreement less (ii) (so long as
no Other Credit Support Exception has occurred) the aggregate amount of Other Credit Support Amounts under any Other Credit Support issued or pledged in favor of the applicable Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank to
support the Obligations of the applicable Credit Party under such Secured Hedge Agreement. 

  
 -7- 

 “Environmental Action” shall mean any investigation,
notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising out of or relating to (a) compliance or
non-compliance with 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 of any Hazardous
Materials or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Environmental Law” shall mean any applicable Federal, state, foreign or local statute, law, rule, regulation,
ordinance, code and rule of common law now or hereafter in effect and in each case as amended, and any binding judicial or administrative interpretation thereof, including any binding judicial or administrative order, consent decree or judgment,
relating to the protection of the environment or human health or safety (as such relates to exposure to Hazardous Materials) or Hazardous Materials. 

“Equity Interests” shall mean Capital Stock and all warrants, options or other
rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 

“Event of Default” shall mean (i) any event or condition which, under the terms of any Series of
Secured Debt causes, or permits holders of Obligations outstanding thereunder (with or without the giving of notice or lapse of time, or both, and whether or not notice has been given or time has lapsed) to cause, the Obligations outstanding
thereunder to become immediately due and payable or (ii) any ISDA Event of Default with respect to a Credit Party under any Secured Commodity Hedge, in each case unless the respective Obligations have been repaid or discharged in accordance
with the terms of the respective Financing Documents. 
 “Excluded Assets” shall have the
meaning assigned to such term in the Guarantee and Collateral Agreement. 
 “Excluded Hedging
Obligation” shall mean with respect to any Subsidiary Guarantor, any Hedging Obligation if, and to the extent that, all or a portion of the guarantee of such Subsidiary Guarantor of, or the grant by such Subsidiary Guarantor of a
security interest to secure, such Hedging Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official
interpretation of any thereof) by virtue of such Subsidiary Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the
security interest of such Subsidiary Guarantor becomes effective with respect to such Hedging Obligation. If a Hedging Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such
Hedging Obligation that is attributable to swaps for which such guarantee or security interest is or becomes illegal.  

“Existing Commodity Hedging Agreements” shall mean the master agreements listed on Annex II hereto
and shall include each confirmation entered into pursuant to such master agreement. 
 “Existing
Commodity Hedging Agreement Counterparties” shall mean each counterparty to the Existing Commodity Hedging Agreements. 

“Fair Market Value” shall mean the value that would be paid by a willing buyer to an unaffiliated willing
seller in a transaction not involving distress or necessity of either party, determined in good faith by an Authorized Officer of the Borrower. 

  
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 “Financing Documents” shall mean, collectively (without
duplication), (a) this Agreement, the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement, each Secured Interest Rate Hedge, each Secured Treasury Services Agreement, each Secured Commodity Hedge and each Additional First
Lien Indebtedness Agreement, in each case secured by a first-priority Lien on the Collateral, (b) the Security Documents and (c) all other agreements, promissory notes, instruments, documents and certificates executed by or on behalf of
any Credit Party in connection with any of the foregoing, in each case as the same may be amended, restated, supplemented, waived or otherwise modified from time to time. 

“First-Lien Secured Parties” shall mean, at any time, the holders of Obligations at such time, including
the Administrative Agent, any Other Administrative Agent, the Collateral Trustee, the Lenders, any Other Lenders (including any Issuing Bank), any L/C Issuer, the Secured Debt Representatives, the Interest Rate Hedge Banks, the Treasury Services
Providers and the Eligible Commodity Hedging Counterparties and the lenders, noteholders, investors and other finance parties (and agents) party to any Additional First Lien Indebtedness. 

“Floor Amount” shall mean as of any date of calculation, with respect to any Secured Hedge Agreement, the
sum of the aggregate amount identified (if any) as the “floor amount” (which shall be calculated based on the expected exposure of the applicable Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank to the Borrower or the
applicable Subsidiary Guarantor under such Secured Hedge Agreement, as determined by the Borrower or the applicable Subsidiary Guarantor and such Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank in good faith on an arm’s
length basis consistent with market practice in the independent power generating industry) for such Secured Hedge Agreement and set forth in one or more contracts, confirmations, schedules or other writings issued and agreed by the applicable
Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank and the Borrower or the applicable Subsidiary Guarantor party to such Secured Hedge Agreement; provided that (a) no such “floor
amount” shall be effective for any purpose hereunder unless, promptly following each such determination, the Borrower shall have notified the Collateral Trustee in writing of the relevant “floor amount” and the Secured Hedge Agreement
to which such “floor amount” applies, (b) the “Floor Amount” for all Secured Hedge Agreements shall not exceed $400,000,000 in the aggregate at any time and (c) to the extent that
there are no transactions outstanding under a Secured Hedge Agreement, the “Floor Amount” for such Secured Hedge Agreement shall be zero. 

“GAAP” shall mean generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been
approved by a significant segment of the accounting profession, which are in effect from time to time; provided, however, that if any operating lease would be recharacterized as a capital lease due to changes in the accounting
treatment of such operating leases under GAAP since June 1, 2015, then solely with respect to the accounting treatment of any such lease, GAAP shall be interpreted as it was in effect on June 1, 2015. 

“Governmental Authority” shall mean any nation or government, or any state, province, territory or other
political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government, or any governmental or non-governmental authority regulating the generation and/or transmission of energy. 

“Guarantee” of or by any Person shall mean any obligation, contingent or otherwise, of such Person
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 

  
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obligation of such Person, 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 of such Indebtedness or other obligation, (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 of such Indebtedness or other obligation or (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; provided, however, that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. 

“Guarantee and Collateral Agreement” shall mean that certain Guarantee and Collateral Agreement dated as
of the date hereof by and among the Borrower, the Subsidiary Guarantors and the Collateral Trustee, on behalf of and for the benefit of the First-Lien Secured Parties. 

“Guaranty” shall mean a guaranty given by a Credit Party in favor of the Collateral Trustee (for and on
behalf of the First-Lien Secured Parties) under the Guarantee and Collateral Agreement. 
 “Hazardous
Materials” shall mean (a) any petroleum or petroleum products, radioactive materials, or asbestos containing materials; (b) any chemicals, materials or substances defined as or included in the definition of “hazardous
substances,” “hazardous waste,” “hazardous materials,” “extremely hazardous waste,” “restricted hazardous waste,” “toxic substances,” “toxic pollutants,” “contaminants,” or
“pollutants” or words of similar import, under any Environmental Law; and (c) any other chemical, material or substance, which is prohibited, limited or regulated by any Environmental Law. 

“Hedging Obligations” shall mean, with respect to any specified Person, the obligations of such Person
under: (i) agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates, commodity prices or commodity transportation or transmission pricing or availability, including, for the avoidance
of doubt, currency exchange, interest rate or commodity swap, cap or collar agreements; (ii) any netting arrangements, power purchase and sale agreements, fuel purchase and sale agreements, swaps, options and other agreements, in each case,
that fluctuate in value with fluctuations in energy, power or gas prices; and (iii) agreements or arrangements for commercial or trading activities with respect to the purchase, transmission, distribution, sale, lease or hedge of any energy
related commodity or service. 
 “Indebtedness” shall mean, with respect to any specified
Person, any indebtedness of such Person (excluding accrued expenses and trade payables, except as provided in clause (e) below), whether or not contingent: 

(a) in respect of borrowed money; 

(b) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect
thereof); 
 (c) in respect of banker’s acceptances; 

(d) representing Capital Lease Obligations or Attributable Debt in respect of sale and leaseback transactions; 

(e) representing the balance deferred and unpaid of the purchase price of any property (including trade payables) or services
due more than six months after such property is acquired or such services are completed; or 

  
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 (f) representing the net amount owing under any Hedging Obligations; 

if and to the extent any of the preceding items (other than letters of credit, Attributable Debt and Hedging Obligations) would appear as a
liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such
Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the guarantee by the specified Person of any Indebtedness of any other Person; provided, that the amount of such Indebtedness shall be deemed not to
exceed the lesser of the amount secured by such Lien and the value of the Person’s property securing such Lien. 

“Indemnified Costs” shall have the meaning set forth in Section 7.8(a). 

“Insolvency or Liquidation Proceeding” shall mean: 

(a) any voluntary or involuntary case or proceeding under any Debtor Relief Laws with respect to any Credit Party: 

(b) any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership,
liquidation, reorganization or other similar case or proceeding with respect to any Credit Party or with respect to a material portion of its respective assets; 

(c) any liquidation, dissolution, reorganization or winding up of any Credit Party whether voluntary or involuntary and whether
or not involving insolvency or bankruptcy; 
 (d) any assignment for the benefit of creditors or any other marshalling of
assets and liabilities of any Credit Party; or 
 (e) any other proceeding of any type or nature in which substantially all
claims of creditors of any Credit Party are determined and any payment or distribution is or may be made on account of such claims. 

“Interest Expense” shall mean, for any period, all interest, commitment fees, letter of credit fees,
participation fees and Breakage Costs in respect of outstanding Obligations accrued, capitalized or payable during such period (whether or not actually paid during such period) pursuant to the terms of the respective Financing Documents.

 “Interest Rate/Currency Hedging Agreement” shall mean any agreement of the type described in
clauses (a), (b) or (c) of the definition of “Interest Rate/Currency Hedging Obligations.” 

“Interest Rate/Currency Hedging Obligations” shall mean, with respect to any specified Person, the
obligations of such Person under (a) interest rate swap agreements (including fixed-to-floating or floating-to-fixed swaps), interest rate cap agreements and interest rate collar agreements, (b) other agreements or arrangements designed to
manage interest rates or interest rate risk and (c) other agreements or arrangements designed to protect such Person against fluctuations in currency exchange rates. 

“Interest Rate Hedge Bank” shall mean a party to any Secured Interest Rate Hedge that is an Acceptable
Financial Counterparty, Lender, Administrative Agent or an Affiliate thereof, or any Person that was a Lender, Administrative Agent or an Affiliate thereof at the time it entered into such Secured Interest Rate Hedge; provided
that, in the case of any Interest Rate Hedge Bank (other than a Lender or an Administrative Agent) that is not a party to this Agreement as of the date hereof, such Interest Rate Hedge 

  
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Bank shall have executed and delivered to the Collateral Trustee an Accession Agreement pursuant to which such Interest Rate Hedge Bank has become a party to this Agreement and has agreed
to be bound by the obligations of a First-Lien Secured Party under the terms hereof. 
 “ISDA Event of
Default” shall mean any Event of Default as defined in the relevant Secured Hedge Agreement.  

“Issuing Bank” shall have the meaning specified in the preliminary statements to this Agreement.

 “L/C Issuer” shall have the meaning specified in the introductory statement to this
Agreement. 
 “Lenders” shall have the meaning specified in the preliminary statements to
this Agreement. 
 “Lien” shall mean any mortgage, pledge, hypothecation, collateral
assignment, deposit arrangement, encumbrance, lien (statutory or other) or other security agreement of any kind or nature whatsoever (including, without limitation, any conditional sale or other title retention agreement) and any preference or
priority having the effect of security, and any lease having substantially the same effect as any of the foregoing. 

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

 “Mortgaged Property” shall mean each real property that is subject to a Mortgage.

 “Mortgages” shall mean a collective reference to each mortgage, deed of trust, deed to
secure debt, debenture or similar security instrument entered into by any Credit Party to secure any Obligations. 

“Obligations” shall mean all amounts owing by the Borrower or any Subsidiary Guarantor to any Agent or
any First-Lien Secured Party pursuant to the terms of this Agreement or any other Financing Document (including all interest, fees and other amounts which accrue after the commencement of any case or proceeding in bankruptcy after the insolvency of,
or for the reorganization of the Borrower or any of its Subsidiary Guarantors, whether or not allowed in such case or proceeding but excluding, with respect to any Guarantor, all Excluded Hedging Obligations of such Guarantor, and shall include all
Credit Agreement Obligations, any Other Credit Agreement Obligations and any Reimbursement Agreement Obligations. 

“Officer’s Certificate” shall mean a certificate signed on behalf of the Borrower by an Authorized
Officer of the Borrower, which certificate shall include: (a) a statement that such Authorized Officer making such certificate has read the applicable covenant or condition, (b) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate are based, (c) a statement that, in the opinion of such Authorized Officer, he has made such examination or investigation as is necessary to enable
him to express an informed opinion as to whether or not the applicable covenant or condition has been complied with and (d) a statement as to whether or not, in the opinion of such Authorized Officer, the applicable condition or covenant has
been complied with. 
 “Ordinary Course Settlement Payments” shall mean all regularly
scheduled payments due under any Secured Hedge Agreement from time to time, calculated in accordance with the terms of such Secured Hedge Agreement, but excluding, for the avoidance of doubt any Termination Payments due and payable under such
Secured Hedge Agreement in connection with an Early Termination Event. 

  
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 “Other Administrative Agent” shall have the meaning
specified in the preliminary statement to this Agreement. 
 “Other Credit Agreement”
shall have the meaning specified in the preliminary statement to this Agreement. 
 “Other Credit
Agreement Effective Date” shall have the meaning specified in the preliminary statement to this Agreement. 

“Other Credit Agreement Obligations” means the “Obligations”, as defined in any Other Credit
Agreement. 
 “Other Credit Support” shall mean any letter of credit, guaranty of the
relevant Secured Hedge Agreement or Additional First-Lien Indebtedness that is in the form of a secured trading facility, including the Secured Trading Facility, or cash collateral issued or pledged, as applicable, as contemplated or required by the
relevant Secured Hedge Agreement or Additional First-Lien Indebtedness that is in the form of a secured trading facility, including the Secured Trading Facility, in favor of the applicable Eligible Commodity Hedging Counterparty, Interest Rate Hedge
Bank or First-Lien Secured Party, as applicable, (other than pursuant to the Security Documents) to support the Obligations of the Borrower or any Subsidiary Guarantor under such Secured Hedge Agreement or Additional First-Lien Indebtedness that is
in the form of a secured trading facility, including the Secured Trading Facility, which letter of credit, guaranty or cash collateral, as applicable, satisfies the requirements of such Secured Hedge Agreement or Additional First-Lien Indebtedness
Agreement that is in the form of a secured trading facility, including the Secured Trading Facility, with respect to letters of credit, guaranties or cash, as applicable. For avoidance of doubt, Other Credit Support shall not include separate
insurance, credit default swap protection or other protection against loss arranged by the Eligible Commodity Hedging Counterparty, Interest Rate Hedge Bank or First-Lien Secured Party, as applicable, for its own account or (y) any guarantees
provided by one or more Credit Parties or Collateral provided pursuant to the Security Documents. 

“Other Credit Support Amount” shall mean the sum of (a) the amount of cash constituting Other Credit
Support, (b) the amount payable under any guaranty constituting Other Credit Support and (c) the amount available to be drawn under any letter of credit constituting Other Credit Support. 

“Other Credit Support Exception” shall mean (a) with respect to any Other Credit Support
constituting a guaranty, the guarantor thereunder fails to make payment after receipt of a demand for payment thereunder made in accordance with the terms of such guaranty, within three Business Days of its receipt of such demand or (b) with
respect to any Other Credit Support constituting a letter of credit, the occurrence and continuance of any of the following: (i) a restraint or injunction shall be threatened against the issuer of such letter of credit or the applicable
Eligible Commodity Hedging Counterparty, Interest Rate Hedge Bank or First-Lien Secured Party, as applicable, that is the beneficiary thereof that restrains or limits or seeks to restrain or limit a draw upon, or the application of proceeds from,
such letter of credit prior to, concurrently with, or following such draw or application, (ii) the issuing bank of such letter of credit shall be subject to a bankruptcy proceeding or (iii) the issuing bank of such letter of credit shall
have disavowed, repudiated or dishonored its obligations under such letter of credit after, if applicable, delivery to such issuing bank of a conforming draw request thereunder. 

“Other Lenders” shall have the meaning specified in the preliminary statements to this Agreement.

 “Other Required Lenders” has the meaning given to the term Required Lenders in any Other
Credit Agreement. 

  
 -13- 

 “Outstanding Amount” shall mean: 

(a) with respect to any Series of Secured Debt (except to the extent provided in clause (d) below with respect to any
secured trading facility), at any time, an amount equal to the sum of (i) the aggregate outstanding principal amount of the Obligations of such Series of Secured Debt (including the face amount of outstanding letters of credit whether or not
then available or drawn) and (ii) except during any period in which the Collateral Trustee has exercised remedies or the protections of Liens on Collateral, the aggregate unfunded commitments to extend credit which, when funded, would
constitute Obligations under such Series of Secured Debt; 
 (b) with respect to any Secured Hedge Agreement (with respect to
any Secured Interest Rate Hedge, for the purposes of Sections 4.4(a) and 7.8 only), (i) at any time prior to the occurrence of an Early Termination Event under such Secured Hedge Agreement, the amount of all Obligations (including Ordinary
Course Settlement Payments, Termination Payments and related Interest Expense) that would be owed to the applicable Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank under such Secured Hedge Agreement if there occurred at such time
an Early Termination Event under such Secured Hedge Agreement where the Borrower or any Subsidiary Guarantor party thereto is the sole “Affected Party” or the “Defaulting Party” (or equivalent term), or (ii) at any time from
and after the occurrence of an Early Termination Event under such Secured Hedge Agreement, the amount of all Obligations (including Ordinary Course Settlement Payments, Termination Payments and related Interest Expense) then due and owing to the
applicable Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank under such Secured Hedge Agreement; 
 (c)
with respect to any Secured Treasury Services Agreement for the purposes of Sections 4.4(a) and 7.8 only, an amount equal to the aggregate outstanding amount of the Obligations in respect of such Secured Treasury Services Agreement; and 

(d) with respect to any secured trading facility (including, if applicable, the Secured Trading Facility), at any time, the
amount equal to the aggregate facility utilization (or similar amount, however named) thereunder, together (without duplication) with any Termination Payments (whether as a result of the occurrence of an event of default or other termination event),
including any “Settlement Amount” or “Early Termination Amount” as defined in the related secured party ISDA Agreement payable to any secured counterparty thereunder. 

“Person” shall mean any individual, corporation, partnership, joint venture, association, joint-stock
company, trust, unincorporated organization, limited liability company or government or other entity. 

“Pledged Collateral” shall mean, as the context may require, (a) any Collateral, to the extent that
possession or control thereof is necessary to perfect a Lien thereon under the UCC, (b) any rights to receive payments under any insurance policy that constitute Collateral and with respect to which a secured party is required to be named as an
additional insured or a loss payee in order to perfect a Lien thereon and/or (c) any other Collateral with respect to which a secured party must be listed on a certificate of title in order to perfect a Lien thereon. 

“Property” shall mean any right or interest in or to any asset or property of any kind whatsoever
(including Equity Interests), whether real, personal or mixed and whether tangible or intangible. 

“Reimbursement Agreement” shall have the meaning specified in the preliminary statement to this
Agreement. 

  
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 “Reimbursement Agreement Obligations” means the
“Obligations”, as defined in any Reimbursement Agreement. 
 “Release” shall
mean any release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal, leaching or migration into or through the environment or within or upon any building, structure, facility or fixture.

 “Remedy Event” shall have the meaning set forth in Section 4.2. 

“Required First-Lien Secured Parties” shall mean, at any time with respect to any matter, First-Lien Secured Parties
owed or holding more than 50% of the sum of (without duplication) (a) subject to any voting restrictions set forth in the applicable Financing Document for a Series of Secured Debt, the Outstanding Amount under the Credit Agreement, any Other
Credit Agreement, any Reimbursement Agreement and/or any Additional First-Lien Indebtedness Agreement at such time and (b) the Eligible Hedge Amount under each Secured Commodity Hedge and each Secured Interest Rate Hedge at such time. 

“Required Lender Parties” shall mean (i) at any time prior to the Other Credit Agreement Effective Date with
respect to any matter, the Required Lenders and (ii) at any time on or after the Other Credit Agreement Effective Date with respect to any matter, the Lenders, the Other Lenders and the L/C Issuer owed or holding more than 50% of, subject to
any voting restrictions set forth in the Credit Agreement (including in the definition of Required Lender therein), the Other Credit Agreement and the Reimbursement Agreement, the sum of (without duplication) the Outstanding Amount under the Credit
Agreement, the Other Credit Agreement and the Reimbursement Agreement at such time. 
 “Required
Lenders” has the meaning given to such term in the Credit Agreement. 
 “Restricted
Subsidiary” shall mean the “Restricted Subsidiaries”, as defined in the Credit Agreement. 

“S&P” shall mean Standard & Poor’s Ratings Services, a Standard & Poor’s
Financial Services LLC business and its successors and assigns. 
 “Secured Commodity
Hedge” shall mean (i) each Existing Commodity Hedging Agreement and (ii) each Eligible Commodity Hedging Agreement entered into by the Borrower or a Subsidiary Guarantor which requires that the obligations of such Borrower or
a Restricted Subsidiary be secured by a Lien on the Collateral; provided that, with respect to each Secured Commodity Hedge, the Eligible Commodity Hedging Counterparty party thereto shall have executed and
delivered to the Collateral Trustee an Accession Agreement pursuant to which such Eligible Commodity Hedging Counterparty has become a party to this Agreement and has agreed to be bound by the obligations of a First-Lien Secured Party under the
terms hereof. 
 “Secured Debt Representative” shall mean (a) with respect to the
Lenders under the Credit Agreement, the Administrative Agent, (b) with respect to any Other Lenders under any Other Credit Agreement, any Other Administrative Agent, (c) any L/C Issuer with respect to any Reimbursement Agreement,
(d) with respect to the lenders, noteholders, investors and other finance parties under any Additional First-Lien Indebtedness, the administrative agent, trustee or similar representative who maintains the applicable transfer register,
(e) with respect to any Secured Interest Rate Hedge, the Interest Rate Hedge Bank party thereto, (f) with respect to any Secured Commodity Hedge, the Eligible Commodity Hedging Counterparty party thereto and (g) with respect to any
Secured Treasury Services Agreement for the purposes of Section 4.4(a) only, the Treasury Services Provider party thereto. 

  
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 “Secured Hedge Agreement” shall mean each Secured Commodity
Hedge and each Secured Interest Rate Hedge. 
 “Secured Hedging Obligations” shall mean
with respect to any specified Person, the obligations of such Person under any Secured Hedge Agreement. 

“Secured Interest Rate Hedge” shall mean each Interest Rate/Currency Hedging Agreement entered into by
the Borrower or any Restricted Subsidiary with an Interest Rate Hedge Bank; provided that, with respect to each Secured Interest Rate Hedge, the Interest Rate Hedge Bank party thereto that is not a Lender or
Administrative Agent shall have executed and delivered to the Collateral Trustee an Accession Agreement pursuant to which such Interest Rate Hedge Bank has become a party to this Agreement and has agreed to be bound by the obligations of a
First-Lien Secured Party under the terms hereof. 
 “Secured Trading Facility” shall mean
the “Secured Trading Facility”, as defined in the Credit Agreement. 
 “Secured Treasury
Services Agreement” shall mean each Treasury Services Agreement entered into by the Borrower or any Restricted Subsidiary with a Treasury Services Provider; provided that, with respect to each Secured
Treasury Services Agreement, the Treasury Services Provider party thereto that is not a Lender or the Administrative Agent shall have executed and delivered to the Collateral Trustee an Accession Agreement pursuant to which such Treasury Services
Provider has become a party to this Agreement and has agreed to be bound by the obligations of a First-Lien Secured Party under the terms hereof. 

“Securities” shall mean any stock, shares, partnership interests, voting trust certificates, certificates
of interest or participation in any profit sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured, convertible, subordinated or otherwise, or in general any instruments
commonly known as “securities” or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or
acquire, any of the foregoing. 
 “Security Documents” shall mean the Guarantee and
Collateral Agreement, the Mortgages, this Agreement and each other agreement, document or instrument executed and delivered pursuant to any of the foregoing (including pursuant to Section 9.10 of the Credit Agreement or any similar provision of
any other Financing Document) that creates or purports to create a first-priority Lien in favor of the Collateral Trustee for the benefit of the First-Lien Secured Parties. 

“Series of Secured Debt” shall mean, severally, the Credit Agreement, any Other Credit Agreement, any
Reimbursement Agreement and any Additional First-Lien Indebtedness Agreement. 
 “Stated
Maturity” shall mean, with respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such
Indebtedness as of the Closing Date, and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 

“Subsidiary” shall mean any subsidiary of the Borrower; “subsidiary” shall mean,
with respect to any specified Person: (i) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after
giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association or 

  
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other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and
(ii) any partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that
Person (or any combination thereof). 
 “Subsidiary Guarantor” shall mean each of the
Persons identified on the signature pages hereto as a “Subsidiary Guarantor” and each other Subsidiary of the Borrower which is required to guarantee the Obligations from time to time pursuant to the terms of the Financing
Documents and which shall have executed and delivered to the Collateral Trustee an Additional Guarantor Accession Agreement pursuant to which such Subsidiary Guarantor has become a party to this Agreement and has agreed to be bound by the
obligations of a Credit Party and Credit Party under the terms hereof. 
 “Supplemental Collateral
Trustee” shall have the meaning set forth in Section 7.2(b). 
 “Swap
Transactions” shall mean any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any Secured Hedge Agreement. 

“Termination Payment” shall mean the amount, if any, payable by the Credit Parties in connection
with an Early Termination Event of any Secured Hedge Agreement, including any “Settlement Amount”, “Early Termination Amount” or “Close-out Amount” or substantially similar term as defined in the
relevant Secured Hedge Agreement; provided that, for the avoidance of doubt, “Termination Payments” shall not include any Ordinary Course Settlement Payments due under any such Secured Hedge Agreement.  

“Treasury Services Agreement” shall mean any agreement between the Borrower or any Subsidiary and any
Treasury Services Provider relating to treasury, depository, credit card, debit card, stored value cards, purchasing or procurement cards and cash management services or automated clearinghouse transfer of funds or any similar services.

 “Treasury Services Obligations” shall have the meaning specified in Section 5.6(b).

 “Treasury Services Provider” shall mean any Acceptable Financial Counterparty (other than a
Credit Party) that is a party to any Secured Treasury Services Agreement; provided that, in the case of any Treasury Services Provider that is not a party to this Agreement as of the date hereof, such Treasury
Services Provider shall have executed and delivered to the Collateral Trustee an Accession Agreement pursuant to which such Treasury Services Provider has become a party to this Agreement and has agreed to be bound by the obligations of a First-Lien
Secured Party under the terms hereof. 
 “Trust Estate” shall have the meaning set forth
in Section 2.1. 
 “UCC” shall mean the Uniform Commercial Code as in effect from
time to time in the State of New York; provided that if, with respect to any filing statement or by reason of any provisions of law, the perfection or the effect of perfection or non-perfection of the security interests granted to the
Collateral Trustee pursuant to the applicable Security Document is governed by the Uniform Commercial Code as in effect in a jurisdiction of the United States other than New York, UCC means the Uniform Commercial Code as in effect from time to time
in such other jurisdiction for purposes of the provisions of each Financing Document and any filing statement relating to such perfection or effect of perfection or non-perfection. 

  
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 “Voting Stock” of any Person as of any date means the
Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 

1.2 Computation of Time Periods; Other Definitional Provisions. 

(a) As used herein and in the other Financing Documents, and any certificate or other document made or delivered pursuant hereto or thereto,
(i) the words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation,” (ii) the word “incur” shall be construed to mean incur, create, issue,
assume, become liable in respect of or suffer to exist (and the words “incurred” and “incurrence” shall have correlative meanings), (iii) unless the context otherwise requires, 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, Equity Interests, securities, revenues, accounts, leasehold interests and contract
rights, (iv) the word “will” shall be construed to have the same meaning and effect as the word “shall,” (v) unless the context otherwise requires, any reference herein (A) to any Person shall be construed to
include such Person’s permitted successors and assigns and (B) to the Borrower or any other Credit Party shall be construed to include the Borrower or such Credit Party as debtor and debtor-in-possession and any receiver or trustee for the
Borrower or any other Credit Party, as the case may be, in any insolvency or liquidation proceeding, (vi) all references to “knowledge” of any Credit Party or a Subsidiary of the Borrower means the actual knowledge of an Authorized
Officer responsible for monitoring compliance with the Financing Documents, (vii) references to “the best of an officer’s knowledge” or similar phrases referring to “best knowledge” of an officer shall be interpreted to
mean that such officer has made such diligent investigation or inquiry as would be customary and prudent for such officer to make in the reasonable judgment of such officer in the context of the applicable circumstances and (viii) all
references to any Governmental Authority, shall include any other Governmental Authority that shall have succeeded to any or all of the functions thereof. 

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

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

(d) Unless otherwise expressly provided herein, (i) all references to documents, instruments and other agreements (including the Financing
Documents) and all other contractual instruments shall be deemed to include all subsequent amendments, restatements, amendments and restatements, extensions, supplements, modifications, refinancings, renewals, replacements and restructurings
thereto, but only to the extent that such amendments, restatements, amendments and restatements, extensions, supplements, modifications, refinancings, renewals, replacements and restructurings are permitted by the Financing Documents; and
(ii) references to any law (including by succession of comparable successor laws) shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such law. 

(e) Unless otherwise set forth herein, references to principal amount shall include, without duplication, any reimbursement obligations with
respect to a letter of credit and the face amount thereof (whether or not such amount is, at the time of determination, drawn or available to be drawn). 

1.3 Certifications, Etc. All certifications to be made hereunder by an officer or representative of a Credit Party shall be made by
such Person in his or her capacity solely as an officer or a representative of such Credit Party, on such Credit Party’s behalf and not in such Person’s individual capacity. 

  
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 1.4 Construction. This Agreement and the other Security Documents will be construed
without regard to the identity of the party who drafted it and as though the parties participated equally in drafting it. Consequently, each of the parties hereto acknowledges and agrees that any rule of construction that a document is to be
construed against the drafting party will not be applicable either to this Agreement or the other Security Documents. 
 SECTION 2.
Declaration of Trust; Acknowledgement of Security Interests. 
 2.1 Trust Estate. To secure the payment of the Obligations and
in consideration of the premises and mutual agreements set forth in this Agreement, each Credit Party hereby confirms the grant to the Collateral Trustee, and the Collateral Trustee hereby accepts and agrees to hold, in trust under this Agreement
for the benefit of all current and future First-Lien Secured Parties, a security interest in and Lien on all of such Credit Party’s right, title and interest in, to and under all Collateral now or hereafter granted to the Collateral Trustee
under any Security Document for the benefit of the First-Lien Secured Parties, together with all of the Collateral Trustee’s right, title and interest in, to and under the Security Documents, and all interests, rights, powers and remedies of
the Collateral Trustee thereunder or in respect thereof and all cash and non-cash proceeds thereof (collectively, the “Trust Estate”). 

The Collateral Trustee and its successors and assigns under this Agreement will hold the Trust Estate in trust for the benefit solely and
exclusively of all current and future First-Lien Secured Parties as security for the payment of all present and future Obligations. 

Notwithstanding the foregoing, if at any time: 

(1) all Liens securing the Obligations have been released as provided in Section 5.1; 

(2) no monetary obligation is outstanding and payable under this Agreement to the Collateral Trustee or any of its co-trustees
or agents (whether in an individual or representative capacity); and 
 (3) the Borrower delivers to the Collateral Trustee
an Officer’s Certificate stating that all Obligations have been terminated, released or otherwise satisfied or collateralized in a manner satisfactory to the counterparty of such Obligation and the Liens of the Collateral Trustee are permitted
to be released, or have been released, in compliance with all applicable provisions of the Financing Documents; 
 then the first-priority lien trust
arising hereunder will terminate (subject to any reinstatement pursuant to Section 6.2), except that all provisions set forth in Section 7.8 that are enforceable by the Collateral Trustee or any of its co-trustees or agents (whether in an
individual or representative capacity) will remain enforceable in accordance with their terms. 
 The parties further declare and covenant
that the Trust Estate will be held and distributed by the Collateral Trustee subject to the further agreements herein. 
 2.2 Collateral
Trustee. The Collateral Trustee and its successors and assigns under this Agreement will act for the benefit solely and exclusively of all present and future holders of Obligations as security for the payment and performance of all present and
future Obligations. 
 2.3 Pari Passu. As among the First-Lien Secured Parties, the Obligations shall rank pari passu,
no First-Lien Secured Party shall be entitled to any preferences or priority over any other First-Lien Secured Party with respect to the Collateral and the First-Lien Secured Parties shall share in the Collateral 

  
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and all proceeds thereof equally and ratably in accordance with the terms of this Agreement notwithstanding the time of incurrence of any Obligation or the time or method of creation or
perfection of any of the Liens securing the Obligations. 
 2.4 Prohibition on Contesting Liens. Each of the Collateral Trustee (on
behalf of itself and each First-Lien Secured Party), the Administrative Agent (on behalf of itself and each Lender), any Other Administrative Agent (on behalf of itself and any Other Lender), the L/C Issuer and each other First-Lien Secured Party,
agrees that it will not (and hereby waives any right to) object to, question or contest, or support any other Person in objecting to, questioning or contesting, in any proceeding (including any Insolvency or Liquidation Proceeding) (a) the
priority, validity, extent, perfection, attachment or enforceability of a Lien held by or on behalf of any of the First-Lien Secured Parties in all or any part of the Collateral in accordance with the terms of this Agreement or (b) any or all
of the provisions of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of the Collateral Trustee, the Administrative Agent, any Other Administrative Agent, any L/C Issuer or any other
First-Lien Secured Party to enforce this Agreement in accordance with the terms hereof. 
 2.5 No New First-Priority Liens. So long
as the Discharge of Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Borrower or any other Credit Party, the parties hereto agree that no Credit Party shall grant or permit
any additional first-priority Liens on any assets or property that constitute Collateral to secure any Obligations other than in respect of any Other Credit Support or otherwise permitted under each of the Financing Documents, unless it has granted
or concurrently grants a first-priority Lien on such Collateral to secure all Obligations on a pari passu basis. 
 SECTION 3.
Enforcement. 
 3.1 Exercise of Remedies. The Collateral Trustee, at the direction of the Required First-Lien Secured Parties,
shall have the exclusive right to enforce rights, exercise remedies (including setoff (but subject to Section 5.4(a)) and the right to credit bid any or all of the Obligations) and make determinations regarding the release, sale, disposition or
restrictions (including bidding or auction procedures) with respect to the Collateral in accordance with the provisions of this Agreement and the relevant Security Documents. In exercising rights and remedies with respect to the Collateral, the
Collateral Trustee, at the direction of the Required First-Lien Secured Parties, may enforce the provisions of the Security Documents and exercise remedies thereunder, all in such order and in such manner as it may determine in the exercise of its
sole discretion. Such exercise and enforcement shall include the rights of the Collateral Trustee (or any other agent appointed by the Required First-Lien Secured Parties) to sell or otherwise dispose of Collateral upon foreclosure, to incur
expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured creditor under the UCC and the Security Documents and of a secured creditor under the Debtor Relief Laws. 

3.2 Enforcement of Liens. 

(a) The Required First-Lien Secured Parties will have, subject to the terms of this Agreement, the right to authorize and direct the Collateral
Trustee with respect to the Security Documents and the Collateral, including the exclusive right to authorize or direct the Collateral Trustee to enforce, collect or realize on any Collateral or exercise any other right or remedy with respect to the
Collateral. 

  
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 (b) Except to the extent directed or consented to by the Required First-Lien Secured Parties,
none of the Collateral Trustee, any Secured Debt Representative or any other First-Lien Secured Party will: 
 (A) request
judicial relief, in any Insolvency or Liquidation Proceeding or in any other court, that would hinder, delay, limit or prohibit the lawful exercise or enforcement of any right or remedy otherwise available to the First-Lien Secured Parties in
respect of the Liens granted to the Collateral Trustee, for the benefit of the First-Lien Secured Parties; 
 (B) oppose or
otherwise contest any motion for relief from the automatic stay or for any injunction against foreclosure or enforcement of Liens granted to the Collateral Trustee, for the benefit of the First-Lien Secured Parties, made by the Collateral Trustee,
acting at the direction of, or as consented to by, the Required First-Lien Secured Parties, in any Insolvency or Liquidation Proceeding; 

(C) oppose or otherwise contest any lawful exercise by the Collateral Trustee, acting at the direction of, or as consented to
by, the Required First-Lien Secured Parties, of the right to credit bid any or all of the Obligations at any sale in foreclosure of the Liens granted to the Collateral Trustee, for the benefit of the First-Lien Secured Parties; or 

(D) oppose or otherwise contest any other request for judicial relief made in any court by the Collateral Trustee, acting at
the direction of, or as consented to by, the Required First-Lien Secured Parties relating to the lawful enforcement of any Lien; 
 provided,
however, that the Collateral Trustee may (but will not be obliged to) take such actions as it deems desirable in its sole discretion to create, prove, preserve or protect the Liens upon any Collateral in the manner contemplated by the
Security Documents. Notwithstanding the foregoing, both before and during an Insolvency and Liquidation Proceeding, any First-Lien Secured Party and any Secured Debt Representative may take any actions and exercise any and all rights in each case,
that are consistent with this Agreement, that they would have as an unsecured creditor, including the commencement of an Insolvency or Liquidation Proceeding against any Credit Party in accordance with applicable law and the termination of any
Financing Document in accordance with the terms thereof; provided that the First-Lien Secured Parties and the Secured Debt Representatives may not take any of the actions prohibited by clauses (A) through (D) above or oppose or
contest any other claim that it has agreed not to oppose or contest under Section 6; and provided, further, that, in the event that any First-Lien Secured Party becomes a judgment lien creditor in respect of Collateral as a result
of its enforcement of its rights as an unsecured creditor with respect to the Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes as the other Liens securing the Obligations are subject to this
Agreement. 
 (c) Notwithstanding anything to the contrary set forth herein or in any other Financing Document, in no event shall the
Collateral Trustee (or any other Person on its behalf) exercise any rights or remedies with respect to the Collateral unless (i) such exercise occurs after the occurrence of an Event of Default following notice to the Collateral Trustee in
accordance with Section 5.3 and (ii) the Collateral Trustee has been instructed to so exercise such rights or remedies by the Required First-Lien Secured Parties (or to the extent expressly provided herein, the Required Lender Parties) in
accordance with the terms set forth herein. In exercising rights and remedies with respect to the Collateral after the occurrence of any Event of Default, the Secured Debt Representatives may, at the direction of the Required First-Lien Secured
Parties, instruct the Collateral Trustee to enforce (or to refrain from enforcing) the provisions of the Security Documents in respect of the Obligations and exercise (or refrain from exercising) remedies thereunder or any such rights and remedies,
all in such order and in such manner as the Collateral Trustee may determine, unless otherwise directed by the Required First-Lien Secured Parties, including: 

(A) the exercise or forbearance from exercise of all rights and remedies in respect of the Collateral and/or the Obligations:

  
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 (B) the enforcement or forbearance from enforcement of any Lien in respect of the
Collateral; 
 (C) the exercise or forbearance from exercise of rights and powers of a holder of Equity Interests or any
other form of Securities in the Collateral to the extent provided in the Security Documents; 
 (D) the acceptance of the
Collateral in full or partial satisfaction of the Obligations; and 
 (E) the exercise or forbearance from exercise of all
rights and remedies of a secured lender under the UCC or any similar law of any applicable jurisdiction or in equity. 
 (d) Without in any
way limiting the generality of clause (c) above, the Collateral Trustee, the Administrative Agent, any Other Administrative Agent, any L/C Issuer, each Interest Rate Hedge Bank, each Eligible Commodity Hedging Counterparty and each other
First-Lien Secured Party and any of them may, at any time and from time to time in accordance with, and to the extent not prohibited by, this Agreement and/or applicable law, without the consent of or notice to any other First-Lien Secured Party,
without incurring responsibility to any other First-Lien Secured Party and without impairing or releasing the Lien priorities and other benefits provided in this Agreement, do one or more of the following: 

(i) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange,
increase or alter, the terms of any of the Obligations and related Financing Documents; provided that if any Secured Commodity Hedges contain restrictions on increases of principal under the Financing Documents, each Eligible Commodity
Hedging Counterparty party thereto agrees to promptly inform each other Secured Debt Representative of any such restriction; 

(ii) release the Lien on the Collateral securing such First-Lien Secured Party’s Obligations; 

(iii) settle or compromise any Obligation or any other liability of any Credit Party; and 

(iv) exercise or delay in or refrain from exercising any right or remedy against any Credit Party or any other Person, elect
any remedy and otherwise deal freely with any Credit Party. 
 (e) Following notice of any Event of Default received pursuant to
Section 5.3, any Secured Debt Representative of the type set forth in clauses (a), (b) or (d) of the definition thereof may request in writing that the Collateral Trustee pursue any lawful action in respect of the Collateral in
accordance with the terms of the Security Documents. Upon any such written request, the Collateral Trustee shall seek the consent of the Required First-Lien Secured Parties to pursue such action (it being understood that the Collateral Trustee shall
not be required to advise the Required First-Lien Secured Parties to pursue any such action). Following receipt of any notice that an Event of Default has occurred, the Collateral Trustee may await direction from the Required First-Lien Secured
Parties and will act, or decline to act, as directed by the Required First-Lien Secured Parties, in the exercise and enforcement of the Collateral Trustee’s interests, rights, powers and remedies in respect of the Collateral or under the
Security Documents or applicable law and, following the initiation of such exercise of remedies, the Collateral Trustee will act, or decline to act, with respect to the manner of such exercise of remedies as directed by the Required First-Lien
Secured Parties. Subsequent to the Collateral Trustee receiving written notice that any Event of 

  
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Default has occurred entitling the Collateral Trustee to foreclose upon, collect or otherwise enforce the Liens then, unless it has been directed to the contrary by the Required First-Lien
Secured Parties, the Collateral Trustee in any event may (but will not be obligated to) take all lawful and commercially reasonable actions permitted under the Security Documents that it may deem necessary or advisable in its reasonable judgment to
protect or preserve its interest in the Collateral and the interests, rights, powers and remedies granted or available to the Collateral Trustee under, pursuant to or in connection with the Security Documents. 

SECTION 4. Payments. 

4.1 Application of Proceeds. Notwithstanding any ongoing Insolvency or Liquidation Proceeding which has been commenced by or against any
Credit Party, any Collateral or any proceeds thereof received in connection with the sale or other disposition of, or collection on, such Collateral and proceeds thereof shall be applied in the following order upon the occurrence and during the
continuation of a Remedy Event (it being agreed that the Collateral Trustee shall apply such amounts in the following order as promptly as is reasonably practicable after the receipt thereof; provided that such amounts shall not be so applied
until such time as the amount of the Obligations has been determined in accordance with the terms hereof and under the terms of the relevant Financing Document, including and subject to Sections 4.4 and 4.5 below): 

first, on a pro rata basis, to the payment of all amounts owing to the Agents (in their respective capacities as
agents) and any fees owing to letter of credit issuing banks under the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement or any Additional First-Lien Indebtedness Agreement under any of the Financing Documents (including
indemnification obligations thereunder); 
 second, on a pro rata basis to any First-Lien Secured Party
which has theretofore advanced or paid any fees to any Agent, other than any amounts covered by priority first, an amount equal to the amount thereof so advanced or paid by such First-Lien Secured Party and for which such First-Lien Secured
Party has not been previously reimbursed; 
 third, on a pro rata basis, to the payment of, without
duplication, (a) any Interest Expense and all principal and other amounts then due and payable in respect of the Obligations under the Credit Agreement, any Other Credit Agreement and any Reimbursement Agreement, (b) the payment of all
Termination Payments then due and payable to any Interest Rate Hedge Bank under any Secured Interest Rate Hedge (including any Interest Expense due and payable in respect thereof), (c) the payment of all Termination Payments then due and
payable to any Eligible Commodity Hedging Counterparty under any Secured Commodity Hedge (including any Interest Expense due and payable in respect thereof), (d) any Interest Expense and all principal and other amounts then due and payable in
respect of the Obligations under any Secured Treasury Services Agreement and any Additional First-Lien Indebtedness (including cash collateralization or back-stopping (at the lower of (1) 103% of the aggregate undrawn amount of such letters of
credit (or such lower amount as agreed to by the issuer of the application outstanding letter of credit) and (2) the percentage of the aggregate undrawn amount required for release of Liens under the terms of the Credit Agreement, any Other
Credit Agreement, any Reimbursement Agreement or the applicable Additional First-Lien Indebtedness) of all outstanding letters of credit constituting Obligations) and (e) all other Obligations due to any First-Lien Secured Party; 

fourth, on a pro rata basis, to the payment of, without duplication, all other Obligations owing to any
First-Lien Secured Party, but not yet due and payable; and 

  
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 last, the balance, if any, after all of the Obligations have been paid in
full in cash, to the Credit Parties or as otherwise required by a court of competent jurisdiction. 
 In connection with the
application of proceeds pursuant to this Section 4.1, except as otherwise directed by the Required First-Lien Secured Parties, the Collateral Trustee may sell any non-cash proceeds for cash prior to the application of the proceeds thereof. 

4.2 Limitations on Payment Post Default. After (i) the Obligations outstanding under any of the Financing Documents have become
due and payable in full (whether at maturity, upon acceleration or otherwise) and have not been repaid in full, or any Obligations outstanding under any of the Financing Documents has not been paid when due and remains unpaid (after any applicable
grace period) and (ii) the Required First-Lien Secured Parties have instructed the Collateral Trustee (unless they are stayed by the applicable Insolvency or Liquidation Proceeding from giving such instructions) to enforce, collect or realize
on any Collateral or exercise any other right or remedy with respect to the Collateral and to cause all proceeds to be applied in accordance with Section 4.1 (a “Remedy Event”), no payment of cash (or the equivalent of
cash) shall be made from the proceeds of Collateral by any Credit Party to the Collateral Trustee for the benefit of any First-Lien Secured Party, except as provided for in Section 4.1. 

4.3 Turnover. If any First-Lien Secured Party shall obtain any amount in respect of any Obligations owed to such First-Lien Secured
Party other than in accordance with the express terms of this Agreement, such First-Lien Secured Party shall forthwith notify each Secured Debt Representative thereof and shall promptly, and in any event within 10 Business Days of its so obtaining
the same, pay such amount (less any reasonable costs and expenses incurred by such First-Lien Secured Party in obtaining such amount) to the Collateral Trustee for the account of the First-Lien Secured Parties, to be shared in accordance with
Section 4.1. 
 4.4 Debt Balances. 

(a) Upon the written request of the Collateral Trustee, each Secured Debt Representative shall promptly (and, in any event, within five
Business Days) give the Collateral Trustee written notice of the aggregate amount of the Obligations then outstanding and owed by any Credit Party to the First-Lien Secured Parties represented by such Secured Debt Representative under the applicable
Financing Documents and any other information that the Collateral Trustee may reasonably request. Each Secured Debt Representative agrees that it will share such information with any other Secured Debt Representative, upon request by a Secured Debt
Representative. In addition to the foregoing, the Collateral Trustee may request from a Secured Debt Representative specified amounts of Obligations in connection with the application of amounts in accordance with Section 4.4(b), the
determination of “Required First-Lien Secured Parties” and any other applicable provisions of this Agreement, including (i) in the case of the Administrative Agent, Secured Debt Representative under an Additional First-Lien
Indebtedness Agreement, any Other Administrative Agent, any L/C Issuer or Treasury Services Provider, the Outstanding Amount under the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement, an Additional First-Lien Indebtedness
Agreement or Secured Treasury Services Agreement (as applicable) at such time, (ii) in the case of each Interest Rate Hedge Bank, the Eligible Hedge Amount under the applicable Secured Interest Rate Hedge at such time, and (iii) in the
case of each Eligible Commodity Hedging Counterparty, the Eligible Hedge Amount under the applicable Secured Commodity Hedge at such time, and each such Secured Debt Representative shall promptly provide such amounts in writing (and, in any event,
within five Business Days). Upon receipt of each such notice from a Secured Debt Representative, the Collateral Trustee shall provide such notice to each other Secured Debt Representative. 

  
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 (b) Without limiting the foregoing, upon receipt of any of the monies referred to in
Section 4.1, the Collateral Trustee shall promptly provide notice to each Secured Debt Representative of the receipt of such monies. Within 10 Business Days of the receipt of such notice, each Secured Debt Representative shall give the
Collateral Trustee written certification by an authorized officer or representative thereof of the aggregate amount of the Obligations then outstanding owed by any Credit Party to the First-Lien Secured Parties represented by such Secured Debt
Representative under the applicable Financing Documents to be certified to as presently due and owing after giving effect to the application of any Other Credit Support in respect of such Obligations as contemplated by Section 4.5 (and,
promptly upon receipt thereof, the Collateral Trustee shall provide a copy of each such certification to each other Secured Debt Representative). Unless otherwise directed by a court of competent jurisdiction or each Secured Debt Representative, the
Collateral Trustee shall use the information provided for in such notices as the basis for applying such monies in accordance with Section 4.1. Notwithstanding anything herein to the contrary, the proceeds of any Collateral shall not be applied
to the Obligations owed to such Eligible Commodity Hedging Counterparty and each Interest Rate Hedge Bank, as applicable, until each Eligible Commodity Hedging Counterparty and each Interest Rate Hedge Bank shall have applied any Other Credit
Support to the Obligations owing to such Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank (as applicable) as contemplated by Section 4.5. 

(c) In calculating the amount of Obligations owed to any Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank, the applicable
Obligations owed under any Secured Hedge Agreement shall be determined by the party specified in such Secured Hedge Agreement in accordance with the terms of the relevant Secured Hedge Agreement, as applicable. 

4.5 Other Credit Support. If, following the occurrence of an Early Termination Event under any Secured Hedge Agreement, any Credit
Party shall fail to pay any of the Obligations owing under such Secured Hedge Agreement as and when required thereunder, then each applicable Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank agrees that, subject to the occurrence
of any Other Credit Support Exception, it shall if a Remedy Event then exists, to the extent permitted under such Secured Hedge Agreement, the terms of any relevant Other Credit Support and applicable law, promptly (i) make a demand for payment
under any Other Credit Support consisting of letters of credit, cash collateral or a guarantee issued in favor of such Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank to support the Obligations of the Credit Parties under such
Secured Hedge Agreement and (ii) promptly apply the proceeds received under any Other Credit Support consisting of letters of credit, cash collateral or guarantee and any cash consisting of Other Credit Support pledged in favor of such Eligible
Commodity Hedging Counterparty or Interest Rate Hedge Bank to reduce the outstanding amount of such Obligations. 
 SECTION 5. Other
Agreements. 
 5.1 Releases. 

(a)(i) Upon the request of any Credit Party in connection with any Asset Sale (other than in connection with the exercise of the Collateral
Trustee’s rights and remedies in respect of the Collateral provided for in Sections 3.1 and 3.2) by any Credit Party or the release of Liens on Collateral that has become an Excluded Asset or other assets of the Credit Parties as Collateral, to
the extent permitted (if addressed therein, or, otherwise, not prohibited) by the terms of all of the Financing Documents as then in effect, the Collateral Trustee will, at the Borrower’s sole cost and expense, execute and deliver to the
applicable Credit Party such documents (including UCC termination statements, reconveyances, customary pay-off letters, and return of Collateral) as such Credit Party may reasonably request to evidence and effectuate the irrevocable and concurrent
release of (A) with respect to any Asset Sale to a Person that is not a Credit Party, Excluded Assets or other applicable assets, any Lien granted thereon under any of the Security Documents in any Collateral being disposed of in connection
with such Asset Sale, Excluded Assets or other applicable assets whose release is permitted (if addressed in the applicable Financing 

  
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Document, or, otherwise, not prohibited) and (B) with respect to any Asset Sale to a Person that is not a Credit Party in respect of all of the Equity Interests in, or assets of, such Credit
Party, such Credit Party from its Obligations and guarantees, if any, under the Financing Documents; provided that, in each case, such Credit Party shall have delivered to the Collateral Trustee and each Secured Debt Representative, at least
five Business Days or such lesser period of time as the Collateral Trustee or Secured Debt Representative may agree prior to the date of the proposed release (such date of the proposed release, the “Release Date”) (a) a
written request for release specifying the Release Date and identifying (generally) the relevant Collateral to which the requested release relates and, to the extent applicable, the Credit Party to be released from the Liens under the Security
Documents and its Obligations under the Financing Documents, and (b) an Officer’s Certificate of an Authorized Officer of the Borrower stating that such Asset Sale, release of Excluded Assets or release of other applicable assets is in
compliance with the terms of all of the Financing Documents. On the Release Date, the Collateral disposed of pursuant to an Asset Sale, that has become Excluded Assets or other applicable assets, as the case may be, identified in the written request
and Officer’s Certificate referred to above shall be automatically released from all Liens under the Security Documents, in each case subject to any actions required to be taken by the Collateral Trustee to effectuate any such release. 

(ii) Upon the Discharge of Obligations, all rights in and to the Collateral shall revert to the applicable Credit Party, and, upon the written
request of the Borrower, the Collateral Trustee will, at the Borrower’s sole cost and expense, (x) promptly cause to be transferred and delivered as the Borrower may direct, without any recourse, warranty or representation whatsoever, any
Collateral and any proceeds received in respect thereof and (y) execute and deliver to the Credit Parties customary payoff letters, reconveyances, UCC termination statements and other documentation as the Credit Parties may reasonably request
to effect the termination and release of the Liens on the Collateral. 
 (iii) Upon request of the Borrower, the Collateral Trustee will take
any action set forth in Section 5.1(a)(i) prior to releasing any Lien under the Security Documents on Excluded Assets as reasonably requested by the Borrower; provided that the Collateral Trustee may, in its reasonable discretion,
request an Officer’s Certificate of the Borrower with respect to the release of the Liens on Excluded Assets. 
 (b) Subject to any
requirements of the Financing Documents, without further written consent, notice to or authorization from any First-Lien Secured Party, the Collateral Trustee shall execute any documents or instruments necessary to release any Collateral to the
extent such release is permitted (if addressed therein, or, otherwise, not prohibited) by the terms of the Financing Documents or if such release is not permitted by the terms of any of the Financing Documents, the relevant First-Lien Secured
Parties have consented to such release in accordance with the terms of such Financing Documents. 
 5.2 Amendments to Financing
Documents; Class Voting. 
 (a) The Financing Documents may be amended, supplemented or otherwise modified in accordance with their
terms, in each case, without notice to, or the consent of any First-Lien Secured Party except to the extent required by any such Financing Document without affecting the provisions of this Agreement. 

(b)(i) Notwithstanding anything to the contrary in this Agreement or in any of the Security Documents, without the written consent of
the Required Lenders, any Other Required Lenders, the L/C Issuer and each First-Lien Secured Party under a Secured Commodity Hedge set forth below, no amendment, modification, termination, waiver or consent in respect of this Agreement or the
Security Documents shall be effective if the effect thereof would: (A) without the written consent of each such Required Lender, any Other Required Lender, any L/C Issuer and First-Lien Secured Party (or in the case of any Series of Secured
Debt, the consent of the holders of such Indebtedness that is required in accordance with 

  
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the Financing Documents for such Series of Secured Debt) that would be adversely affected thereby, (1) amend the definition of “Acceptable Commodity Counterparty,”
“Acceptable Financial Counterparty,” “Commodity Hedging Agreements,” “Eligible Commodity Hedge Agreement,” “Eligible Commodity Hedging Counterparty,” “Existing Commodity
Hedging Agreement,” “Existing Commodity Hedging Agreement Counterparty,” “Discharge of Obligations,” “Early Termination Event,” “Eligible Hedge Amount,” “Event of
Default,” “Financing Documents,” “Floor Amount,” “Hedging Obligations,” “Secured Hedging Obligations,” “Secured Hedge Agreement,” “Interest
Rate/Currency Hedging Agreement,” “Interest Rate/Currency Hedging Obligations,” “Interest Rate Hedge Bank,” “Obligation,” “Ordinary Course Settlement Payments,”
“Other Credit Support,” “Other Credit Support Amount,” “Other Credit Support Exception,” “Outstanding Amount,” “Secured Commodity Hedge,” “Required
First-Lien Secured Parties,” “Additional First Lien Indebtedness,” “Secured Debt Representative,” “Secured Hedge Agreement,” “Secured Interest Rate Hedge,” “
First-Lien Secured Parties,” “Additional First-Lien Indebtedness Agreement,” “Secured Treasury Services Agreement” or “Termination Payment,” in each case as such term applies to the then
outstanding Obligations and/or Financing Documents or (2) cause any netting or setoff rights of an Eligible Commodity Hedging Counterparty under its Secured Commodity Hedge, an Interest Rate Hedge Bank under its Secured Interest Rate Hedge or a
Treasury Services Provider under its Secured Treasury Services Agreement, in either case, to be prohibited hereunder, or (B) without the written consent of each Required First-Lien Secured Party (or Secured Debt Representative on its behalf)
whose then outstanding Financing Documents (or related outstanding Obligations) would be adversely affected thereby, (1) change the order of application of proceeds of Collateral and other payments set forth in Section 4.1 or any other
provision setting forth a priority of payment in respect of the Obligations; (2) cause the Obligations owed under the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement, any Additional First-Lien Indebtedness Agreement,
any Secured Treasury Services Agreement, any Secured Hedge Agreement to cease to be secured by Liens on the Collateral on a pari passu basis with all other Obligations; (3) release all or substantially all of the Collateral or all or
substantially all of the Subsidiary Guarantors from their respective Guaranties, except as expressly provided in (or permitted by) all of the Financing Documents then in effect (including Section 5.1); or (4) amend or otherwise modify this
Section 5.2 in a manner that would materially and adversely affect such First-Lien Secured Party. 
 (ii) Without limiting the
generality of the other provisions of this Section 5.2, no consent shall be required of any First-Lien Secured Party to execute any amendment, modification, waiver, termination or consent in respect of this Agreement or the Security Documents
if after giving effect thereto, this Agreement or the Security Documents are (x) more favorable to such First-Lien Secured Party and (y) not materially less favorable to such First-Lien Secured Party than to any other First-Lien Secured
Party. 
 5.3 Certain Actions. So long as any Obligations remain outstanding in respect of more than one class of First-Lien Secured
Parties, the following provisions shall apply: 
 (a) Each Secured Debt Representative hereby agrees to give, pursuant to the
terms set forth in the Financing Documents, the Collateral Trustee prompt written notice of the occurrence of (i) any Event of Default under such Person’s Financing Documents, as applicable, of which such Person has written notice,
(ii) any amendment or waiver under such Person’s Financing Documents and (iii) acceleration of the maturity of any Obligations under any of the Financing Documents for which it acts as a Secured Debt Representative wherein such
Obligations have been declared to be or have automatically become due and payable earlier than the scheduled maturity thereof or termination date thereunder (or similar remedial actions including demands for cash collateral (except in accordance
with ordinary course margining under Secured Hedge Agreements) have been taken) and setting forth the aggregate amount of Obligations that have been so accelerated under such Financing Documents, in each case, as soon as practicable after

  
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the occurrence thereof (and, in any event, within ten Business Days after the occurrence thereof); provided, however, that the failure to provide such notice shall not limit or
impair the rights of the First-Lien Secured Parties, or the obligations of the Credit Parties, hereunder or under the other Financing Documents. Upon receipt of any of the notices described in clause (i), (ii) or (iii) above from any
Secured Debt Representative, the Collateral Trustee shall promptly notify each other Secured Debt Representative. The Collateral Trustee shall not be deemed to have knowledge or notice of the occurrence of an Event of Default under any Financing
Document until it has received a written notice of such Event of Default in accordance with the preceding sentences of this Section 5.3. 

(b) The Collateral Trustee hereby agrees to give each Secured Debt Representative prompt written notice of the occurrence of an
Event of Default following receipt thereof of written notice to it and provide a copy of all other related information provided to it by any Credit Party under the Security Documents upon request. 

(c) Each Credit Party hereby agrees that, at any time and from time to time, at its sole cost and expense and following the
reasonable request of the Collateral Trustee, it shall promptly execute and deliver all further agreements, instruments, documents and certificates and take all further action that may be necessary in order to fully effect the purposes of this
Agreement and the Security Documents (including, to the extent required by any Security Document, the delivery of any Collateral represented by certificated securities that hereafter comes into existence or is acquired in the future by the
Collateral Trustee as pledgee for the benefit of the First-Lien Secured Parties) and to enable the Collateral Trustee to exercise and enforce its rights and remedies under the Security Documents with respect to the Collateral or any part thereof.

 5.4 Cash Collateral Accounts; Amounts Not Subject to Sharing. 

(a) Subject to the terms of this Section 5.4(a), nothing contained in this Agreement shall be construed (i) to impair the
rights of any First-Lien Secured Party to exercise its rights and remedies with respect to any cash collateral pledged for its sole benefit or as a beneficiary under and pursuant to any Other Credit Support issued or pledged in its favor,
(ii) to impair the rights of any First-Lien Secured Party to exercise any of its rights and remedies as an unsecured creditor under any or all Financing Documents to which it is a party that are consistent with the terms of this Agreement,
(iii) to impair the rights of any Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank to exercise its rights to setoff and net amounts across Swap Transactions under any Secured Hedge Agreement to which it is a party,
(iv) impair the rights of the Lenders under Section 13.02 of the Credit Agreement, (v) impair the rights of any Other Lenders under any analogous section regarding rights of set-off of each Other Credit Agreement, or (vi) impair
the rights of the L/C Issuer under any analogous section regarding rights of set-off of any Reimbursement Agreement; provided that each Eligible Commodity Hedging Counterparty and Interest Rate Hedge Bank agrees that it shall only exercise
such rights of setoff and netting, among amounts owing by or to such Interest Rate Hedge Bank or Eligible Commodity Hedging Counterparty under the Secured Hedge Agreements to which it is a party; provided that, except with respect to cash
collateral described in clause (i), any amounts received as a result of such setoff described in clauses (iii), (iv), (v) and (vi) shall be applied pursuant to Section 4.1. 

(b) Notwithstanding anything to the contrary, no First-Lien Secured Party shall have any obligation to share any amounts received or deemed
received by it in respect of any Obligation owed to it from separate insurance, credit default swap protection, Other Credit Support or other similar protection against loss arranged by such First-Lien Secured Party for its own account in respect of
any such Obligation (which amounts shall be for the sole benefit of such First-Lien Secured Party). 

  
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 5.5 Additional First-Lien Indebtedness Agreement. 

(a) The Collateral Trustee will perform its duties as Collateral Trustee hereunder with respect to any Obligations under any Additional
First-Lien Indebtedness if each of the designated Secured Debt Representative for such Obligations, the Borrower and the other applicable Credit Party (if any) signs an Accession Agreement and delivers the same to the Collateral Trustee. Such
Accession Agreement must be appropriately completed as contemplated by Exhibit A and delivered to the Collateral Trustee, which shall, in turn, promptly deliver a copy of such Accession Agreement to each other Secured Debt Representative. 

(b) Although the Collateral Trustee shall be required to deliver a copy of such Accession Agreement to each then existing Secured Debt
Representative, the failure to so deliver a copy of the Accession Agreement to any then existing Secured Debt Representative shall not affect the status of such debt as Additional First-Lien Indebtedness if the other requirements of this
Section 5.5 are complied with. Each of the Collateral Trustee and any then-existing Secured Debt Representative shall have the right to request that the Borrower provide a legal opinion of counsel as to the Additional First-Lien Indebtedness
being secured by a valid and perfected security interest in the Collateral. Notwithstanding the foregoing, nothing in this Agreement will be construed to allow the Borrower or any other Credit Party to incur Additional First-Lien Indebtedness if
prohibited by the terms of any Financing Documents as then in effect. 
 (c) With respect to any Additional First-Lien Indebtedness incurred
after the date hereof, Borrower and each of the other Credit Parties agrees to take such actions (if any) as may from time to time reasonably be requested by the Collateral Trustee or the Required First-Lien Secured Parties, and enter into such
technical amendments, modifications and/or supplements to the then existing Guaranties and/or Security Documents (or execute and deliver such additional Security Documents) as may from time to time be reasonably requested by such Persons (including
as contemplated by clause (d) below), to ensure that such Additional First-Lien Indebtedness and the Additional First-Lien Obligations are secured by, and entitled to the benefits of, the relevant Security Documents, and each First-Lien Secured
Party (by its acceptance of the benefits hereof) hereby agrees to, and authorizes the Collateral Trustee to enter into, any such technical amendments, modifications and/or supplements (and additional Security Documents). Borrower and each other
Credit Party hereby further agree that, if there are any recording, filing or other similar fees payable in connection with any of the actions to be taken pursuant to this Section, all such amounts shall be paid by, and shall be for the account of,
Borrower and the other respective Credit Parties, on a joint and several basis. 
 (d) Without limitation of the foregoing, Borrower and each
other Credit Party agrees to take the following actions with respect to any real property Collateral with respect to any and all Additional First-Lien Indebtedness within 60 days after the delivery of the respective Accession Agreement (or such
later date as the Collateral Trustee agrees to in its sole discretion): 
 (1) Borrower and the other applicable Credit Parties shall enter
into, and deliver to the Collateral Trustee a mortgage modification (each such modification, a “Modification”) or new mortgage or deed of trust with regard to each real property subject to a Mortgage (and each such property subject to a
Mortgage, a “Mortgaged Property”), in proper form for recording in all applicable jurisdictions, in form and substance reasonably satisfactory to the Collateral Trustee, and the Borrower and the other Credit Parties are jointly and
severally liable to pay all filing and recording fees and taxes, documentary stamp taxes and other taxes, charges and fees, if any, necessary for filing or recording in the recording office of each jurisdiction where such real property to be
encumbered thereby is situated; 

  
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 (2) Borrower or the applicable Credit Party will cause to be delivered a local counsel opinion
with respect to each such Mortgaged Property in form and substance reasonably satisfactory to the Collateral Trustee; and 
 (3) Borrower or
the applicable Credit Party will cause a title company reasonably acceptable to the Collateral Trustee to have delivered to the Collateral Trustee a title insurance policy (or, as applicable, a date down or modification endorsement to each title
insurance policy previously delivered to the Collateral Trustee with respect to the Mortgage or Mortgages), or other evidence reasonably satisfactory to the Collateral Trustee, including, without limitation, a title search, in each case ensuring
that each mortgage, as modified by a Modification or each new mortgage, as applicable, is a first-priority lien on the applicable Mortgaged Property, subject to Liens permitted by each Financing Document. 

5.6 Secured Hedge Agreements and Secured Treasury Services Agreements. 

(a) The Collateral Trustee will perform its duties as Collateral Trustee hereunder with respect to any Obligations under a Secured Hedge
Agreement or Secured Treasury Services Agreement incurred after the date hereof if the Eligible Commodity Hedge Counterparty or Interest Rate Hedge Bank or Treasury Services Provider and the Borrower and the other applicable Credit Party (if any)
signs an Accession Agreement and delivers the same to the Collateral Trustee (it being understood and agreed that only one Accession Agreement per Eligible Commodity Hedge Counterparty, Interest Rate Hedge Bank or Treasury Services Provider (as the
case may be) will be required for each Secured Hedge Agreement). Such Accession Agreement must be appropriately completed as contemplated by Exhibit A and delivered by the Borrower to the Collateral Trustee, which shall, in turn, promptly deliver a
copy of such Accession Agreement to each other Secured Debt Representative. 
 (b) Although the Collateral Trustee shall be required to
deliver a copy of such Accession Agreement to each then existing Secured Debt Representative, the failure to so deliver a copy of the Accession Agreement to any then existing Secured Debt Representative shall not affect the status of such debt as
Obligations under a Secured Hedge Agreement or Secured Treasury Services Agreement (as applicable) if the other requirements of this Section 5.6 are complied with. Nothing in this Agreement will be construed to allow the Borrower or any other
Credit Party to incur additional Indebtedness or Liens or enter into any Swap Transactions if prohibited by the terms of any Financing Document as in effect at the time of such incurrence. 

(c) With respect to any Secured Hedging Obligations and Treasury Service Obligations, the Borrower and each other Credit Party agrees to take
such actions (if any) as may from time to time reasonably be requested by the Collateral Trustee or the Required First-Lien Secured Parties, and enter into such amendments, modifications and/or supplements to the then existing Guaranties and
Security Documents (or execute and deliver such additional Security Documents) as may from time to time be reasonably requested by such Persons, to ensure that the Secured Hedging Obligations and Treasury Service Obligations incurred after the date
hereof are secured by, and entitled to the benefits of, the relevant Security Documents, and each First-Lien Secured Party (by its acceptance of the benefits hereof) hereby agrees to, and authorizes the Collateral Trustee to enter into, any such
amendments, modifications and/or supplements (and additional Security Documents). The Borrower and each other Credit Party hereby further agree that if there are any recording, filing or other similar fees or taxes payable in connection with any of
the actions to be taken pursuant to this Section 5.6 all such amounts shall be paid by, and shall be for the account of, the Borrower and the respective Credit Parties, on a joint and several basis. 

  
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 5.7 Representative; Relationship. 

(a) The Collateral Trustee agrees to hold the Pledged Collateral that is in its possession or control (or in the possession or control of its
agents or bailees) as Collateral Trustee for the First-Lien Secured Parties and any assignee solely for the purpose of perfecting the security interest granted under the Security Documents, subject to the terms and conditions of this
Section 5.7. 
 (b) The Collateral Trustee shall have no obligations whatsoever to the First-Lien Secured Parties to ensure that the
Pledged Collateral is genuine or owned by any Credit Party or to preserve the rights or benefits of any Person except as expressly set forth in this Section 5.7. The duties or responsibilities of the Collateral Trustee under this
Section 5.7 shall be limited solely to holding the Pledged Collateral in accordance with this Section 5.7 and delivering the Pledged Collateral upon a Discharge of Obligations as provided in clause (d) below. 

(c) The Collateral Trustee acting pursuant to this Section 5.7 shall not have by reason of the Security Documents, this Agreement or any
other document a fiduciary relationship in respect of the any Secured Debt Representative or any other First-Lien Secured Party. 
 (d) Upon
the Discharge of Obligations, the Collateral Trustee shall deliver the remaining Pledged Collateral (if any) together with any necessary endorsements, to the applicable Credit Parties at the sole cost and expense of the Credit Parties. 

SECTION 6. Insolvency or Liquidation Proceedings. 

6.1 Finance and Sale Issues. If the Borrower or any other Credit Party shall be subject to any Insolvency or Liquidation Proceeding and
the Collateral Trustee (acting at the direction of the Required Lender Parties) shall desire to permit the use of “Cash Collateral” (as such term is defined in Section 363(a) of the Bankruptcy Code), on which the
Collateral Trustee or any other First-Lien Secured Party has a Lien or to permit the Borrower or any other Credit Party to obtain financing, whether from any of the First-Lien Secured Parties or any other Person under Section 364 of the
Bankruptcy Code or any similar Debtor Relief Laws (“DIP Financing”), then the Collateral Trustee, each Eligible Commodity Hedging Counterparty, each Interest Rate Hedge Bank, and each other First-Lien Secured Party agrees
that it (a) will raise no objection to, nor support any other Person objecting to, the use of such Cash Collateral or to such DIP Financing, (b) will not request or accept adequate protection or any other relief in connection with the use
of such Cash Collateral or such DIP Financing, (c) to the extent the DIP Financing requires that the Liens securing the Obligations be subordinated to or pari passu with the Liens securing such DIP Financing, and/or any carve-out (to
which the Collateral Trustee consents (acting at the direction of the Required Lender Parties)) for the professional fees and expenses of the Credit Parties and any official committee of unsecured creditors appointed in any such Insolvency or
Liquidation Proceeding will consent to such subordination or pari passu treatment and (d) agrees that notice received two calendar days prior to the entry of an interim order approving such usage of Cash Collateral or approving such DIP
Financing shall be adequate notice and that notice received 15 calendar days prior to a hearing to approve such DIP Financing or use of Cash Collateral on a final basis shall be adequate; provided that (i) each First-Lien Secured Party
retains the right to object to any ancillary agreements or ancillary arrangements regarding the Cash Collateral use or the DIP Financing that are materially prejudicial to their interests (unless such ancillary agreements or arrangements, including
any adequate protection orders, are equally materially prejudicial to all First-Lien Secured Parties, in which case there shall be no independent right of a First-Lien Secured Party to object), (ii) the DIP Financing (x) does not compel
any Credit Party to seek confirmation of a specific plan of reorganization for which all or substantially all of the material terms are set forth in the DIP Financing documentation or a related document, and (y) the DIP Financing document or
Cash Collateral order does not expressly require the liquidation of the Collateral prior to a 

  
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default under the DIP Financing documentation or Cash Collateral order and (iii) if any cash collateral order contemplates the liquidation of the Collateral, such order provides that the
Liens of the Collateral Trustee (for the benefit of the First-Lien Secured Parties) will attach to the proceeds of such liquidation equally and ratably. 

6.2 Avoidance Issues. If any First-Lien Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over
or otherwise pay to the estate of the Borrower or any other Credit Party any amount paid in respect of the Obligations (a “Recovery”), then such First-Lien Secured Party shall be entitled to a reinstatement of Obligations
with respect to all such recovered amounts. In such event, (a) the Discharge of Obligations shall be deemed not to have occurred and (b) if this Agreement shall have been terminated prior to such Recovery, this Agreement shall be
reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. 

6.3 Reorganization Securities. If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by
Liens upon any Property of the reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, on account of the Obligations, then, to the extent the debt obligations distributed on account of the
Obligations are secured by Liens upon the same property, the provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 

6.4 Relief from the Automatic Stay. Each First-Lien Secured Party agrees that it has no independent right to seek adequate protection
or relief from the automatic stay or from any other stay in any Insolvency or Liquidation Proceeding, and that the Collateral Trustee, acting at the direction of the Required First-Lien Secured Parties, has the exclusive authority to seek adequate
protection or relief from the automatic stay or from any other stay in any Insolvency or Liquidation Proceeding on behalf of the First-Lien Secured Parties; provided, however, that any adequate protection or stay relief sought or
obtained by the Collateral Trustee shall not be materially more favorable to any First-Lien Secured Party than to any other First-Lien Secured Party. Each First-Lien Secured Party further agrees that it shall not object to any motion, action or
proceeding by the Collateral Trustee (acting at the direction of the Required First-Lien Secured Parties) for adequate protection or for relief from the automatic stay or from any other stay in any Insolvency or Liquidation Proceeding or any
adequate protection or stay relief granted unless such motion, action, proceeding or relief is in violation of the provisions of this Agreement. 

6.5 Asset Dispositions in an Insolvency Proceeding. Each First-Lien Secured Party agrees that it will consent to, and raise no
objection or oppose a motion, whether under Section 363 or 364, or otherwise, under the Bankruptcy Code to sell or otherwise dispose of any Collateral pursuant to Section 363 of the Bankruptcy Code free and clear of all Liens securing the
Obligations so long as the Collateral Trustee acting at the direction of the Required First-Lien Secured Parties have consented to such sale or disposition of such assets. 

6.6 Other Credit Support. Notwithstanding anything to the contrary contained herein, the provisions of this Section 6 shall not
(i) limit the rights of any First-Lien Secured Party in respect of its Other Credit Support and shall not prevent any First-Lien Secured Party from taking any actions to enforce such rights to the extent permitted under applicable law,
including by (x) objecting to any use of Cash Collateral to the extent constituting Other Credit Support for such First-Lien Secured Party or (y) objecting to any priming or pari passu Lien on Other Credit Support for such
First-Lien Secured Party, or (ii) limit the right of any First-Lien Secured Party that is an Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank under a Secured Hedge Agreement or a First-Lien Secured Party under an

  
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Additional First-Lien Indebtedness Agreement that is in the form of a secured trading facility, including the Secured Trading Facility, to, among other things, terminate, close out, set off or
apply Other Credit Support with respect to any such Secured Hedge Agreement or Additional First-Lien Indebtedness Agreement that is in the form of a secured trading facility, including the Secured Trading Facility, or take any actions to enforce its
rights under such agreement, to the extent permitted under applicable law. 
 SECTION 7. Collateral Trustee. 

7.1 Appointment. 
 (a) Each
of the Administrative Agent (for itself and on behalf of each Lender), any Other Administrative Agent (for itself and on behalf of any Other Lender), the L/C Issuer, each Secured Debt Representative under any Additional First-Lien Indebtedness
Agreement, each Interest Rate Hedge Bank, each Eligible Commodity Hedging Counterparty and each Treasury Services Provider hereby appoints and authorizes the Collateral Trustee to act as its Collateral Trustee in accordance with the terms hereof and
the other Financing Documents. The Collateral Trustee hereby agrees to act in its capacity as such upon the express conditions contained herein and the other Financing Documents, as applicable. In performing its functions and duties hereunder, the
Collateral Trustee shall act solely as an agent of the First-Lien Secured Parties and does not assume and shall not be deemed to have assumed any obligation towards, or relationship of agency or trust with or for, any Credit Party. Each of the
Administrative Agent (for itself and on behalf of each Lender), any Other Administrative Agent (for itself and on behalf of any Other Lender), the L/C Issuer, each Secured Debt Representative under any Additional First-Lien Indebtedness Agreement,
each Interest Rate Hedge Bank, each Eligible Commodity Hedging Counterparty and each Treasury Services Provider hereby irrevocably authorizes the Collateral Trustee to take such action on their behalf and to exercise such powers, rights and remedies
hereunder and under the other Financing Documents as are specifically delegated or granted to the Collateral Trustee by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. The Collateral
Trustee shall have only those duties and responsibilities that are expressly specified herein and the other Financing Documents. The Collateral Trustee may exercise such powers, rights and remedies and perform such duties by or through its agents or
employees. The Collateral Trustee shall not have, by reason hereof or any of the other Financing Documents, a fiduciary relationship in respect of any First-Lien Secured Party, and nothing herein or any of the other Financing Documents, expressed or
implied, is intended to or shall be so construed as to impose upon the Collateral Trustee any obligations in respect hereof or any of the other Financing Documents except as expressly set forth herein or therein. 

(b) The provisions of this Section 7 (other than Section 7.6) are solely for the benefit of the Collateral Trustee, and neither the
First-Lien Secured Parties and nor any Credit Party shall have any rights as a third party beneficiary of any of the provisions hereof. 

(c) Each First-Lien Secured Party hereby authorizes the Collateral Trustee to enter into each intercreditor agreement expressly contemplated by
the Credit Agreement, any Other Credit Agreement and any Reimbursement Agreement on the date hereof and the provisions of such intercreditor agreements shall be binding on all First-Lien Secured Parties. 

7.2 Delegation of Duties. 

(a) The Collateral Trustee may execute any of its duties under this Agreement and the Financing Documents, (including for purposes of holding
or enforcing any Lien on the Collateral or any portion thereof granted under the Security Documents or of exercising any rights or remedies thereunder) by or through agents or attorneys-in-fact and shall be entitled to advice of counsel and other
consultants or experts of its choice concerning all matters pertaining to such duties. No Collateral Trustee shall be responsible for the negligence or misconduct of any agent or attorney-in-fact selected by it with reasonable care. 

  
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 (b) The Collateral Trustee may also from time to time, when the Collateral Trustee
deems it to be necessary or desirable, appoint one or more trustees, co-trustees, collateral co-agents, collateral subagents or attorneys-in-fact (each, a “Supplemental Collateral Trustee”) with respect to all or any part of
the Collateral; provided, however, that no such Supplemental Collateral Trustee shall be authorized to take any action with respect to any Collateral unless and except to the
extent expressly authorized in writing by the Collateral Trustee. Should any instrument in writing from any Credit Party be required by any Supplemental Collateral Trustee so appointed by the Collateral Trustee to more fully or certainly vest in and
confirm to such Supplemental Collateral Trustee such rights, powers, privileges and duties, such Credit Party shall execute, acknowledge and deliver any and all such instruments promptly upon request by the Collateral Trustee. If any Supplemental
Collateral Trustee, or successor thereto, shall die, become incapable of acting, resign or be removed, all rights, powers, privileges and duties of such Supplemental Collateral Trustee, to the extent permitted by law, shall automatically vest in and
be exercised by the Collateral Trustee until the appointment of a new Supplemental Collateral Trustee. The Collateral Trustee shall not be responsible for the negligence or misconduct of any agent, attorney-in-fact or Supplemental Collateral Trustee
that it selects in accordance with the foregoing provisions of this Section 7.2(b) in the absence of the Collateral Trustee’s gross negligence, bad faith or willful misconduct as determined by a court of competent jurisdiction by final and
non-appealable judgment. 
 (c) Any notice, request or other writing given to the Collateral Trustee shall be deemed to have
been given to each Supplemental Collateral Trustee. Every instrument appointing any Supplemental Collateral Trustee shall refer to this Agreement and the conditions of this Section 7.2. 

(d) Any Supplemental Collateral Trustee may at any time appoint the Collateral Trustee as its agent or attorney-in-fact with full power and
authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf or in its name. 

7.3 Exculpatory Provisions. 

(a) Neither the Collateral Trustee nor any of its officers, partners, directors, employees or agents shall be liable to the First-Lien Secured
Parties for any action taken or omitted by the Collateral Trustee under or in connection with any of the Financing Documents except to the extent caused by the Collateral Trustee’s gross negligence, bad faith or willful misconduct as determined
by a court of competent jurisdiction by final and non-appealable judgment. The Collateral Trustee shall be entitled to refrain from any act or the taking of any action (including the failure to take an action) in connection herewith or any of the
other Financing Documents or from the exercise of any power, discretion or authority vested in it hereunder or thereunder unless and until the Collateral Trustee shall have received instructions in respect thereof from the Required First-Lien
Secured Parties, Required Lender Parties or Required Lenders and/or any Other Required Lenders and/or any L/C Issuer (as applicable) and, upon receipt of such instructions from the Required First-Lien Secured Parties, Required Lender Parties,
Required Lenders and/or any Other Required Lenders and/or any L/C Issuer (as applicable), the Collateral Trustee shall be entitled to act or (where so instructed) refrain from acting, or to exercise such power, discretion or authority, in accordance
with such instructions. Without prejudice to the generality of the foregoing, (i) the Collateral Trustee shall be entitled to rely, and shall be fully protected in relying, upon any communication, instrument or document believed by it to be
genuine and correct and to have been signed or sent by the proper Person or Persons, and shall be entitled to rely and shall be protected in relying on opinions and judgments of attorneys (who may be attorneys for any Credit Party), accountants,
experts and other professional advisors selected by it (and shall have no duty whatsoever to investigate or verify whether any such signature is genuine or authorized or whether the information in any such communication, instrument or other

  
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document is genuine or accurate); and (ii) no First-Lien Secured Party shall have any right of action whatsoever against the Collateral Trustee as a result of the Collateral Trustee acting
or (where so instructed) refraining from acting hereunder or any of the other Financing Documents in accordance with the instructions of the Required First-Lien Secured Parties or, to the extent expressly provided herein, the Required Lender
Parties. 
 (b) Notwithstanding anything to the contrary in Section 5.7, beyond the exercise of reasonable care in the custody thereof
and as otherwise specifically set forth herein, the Collateral Trustee shall not have any duty as to any of the Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to
preservation of rights against prior parties or any other rights pertaining thereto and the Collateral Trustee shall not be responsible for filing any financing or continuation statements or recording any documents or instruments in any public
office at any time or times or otherwise perfecting or maintaining the perfection of any security interest in the Collateral. The Collateral Trustee shall not be liable or responsible for any loss or diminution in the value of any of the Collateral,
by reason of the act or omission of any carrier, forwarding agency or other agent or bailee selected by the Collateral Trustee in good faith. 

(c) The Collateral Trustee shall not be responsible for the existence, genuineness or value of any of the Collateral or for the validity,
perfection, priority or enforceability of the Liens in any of the Collateral, whether impaired by operation of law or by reason of any action or omission to act on its part hereunder, except to the extent such action or omission constitutes gross
negligence, bad faith or willful misconduct on the part of the Collateral Trustee as determined by a court of competent jurisdiction in a final and non-appealable judgment, for the validity or sufficiency of the Collateral or any agreement or
assignment contained therein, for the validity of the title of any Credit Party to the Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens upon the Collateral or otherwise as to the maintenance of the
Collateral. 
 (d) In the event that the Collateral Trustee is required to acquire title to an asset for any reason, or take any managerial
action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in the Collateral Trustee’s reasonable discretion may cause the Collateral Trustee to be considered an “owner
or operator” under the provisions of the CERCLA or otherwise cause the Collateral Trustee to incur, or be exposed to, any Environmental Liability or any liability under CERCLA or any other federal, state or local law, the Collateral
Trustee reserves the right, instead of taking such action, either to resign as Collateral Trustee or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Collateral Trustee shall not be liable to any
Person for any environmental liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral Trustee’s actions and conduct as authorized, empowered and directed
hereunder or relating to the discharge, Release or threatened Release of Hazardous Materials into the environment, except to the extent such environmental liability, environmental claims or contribution actions resulted directly from the gross
negligence or willful misconduct on the part of the Collateral Trustee as determined by a final non-appealable judgment of a court of competent jurisdiction. 

7.4 Non-Reliance on Collateral Trustee and Other First-Lien Secured Parties. 

(a) Each of the Administrative Agent (for itself and on behalf of each Lender), any Other Administrative Agent (for itself and on behalf of any
Other Lender), the L/C Issuer, the Secured Debt Representative under any Additional First-Lien Indebtedness Agreement, each Interest Rate Hedge Bank, each Eligible Commodity Hedging Counterparty and each Treasury Services Provider:
(i) expressly acknowledges that neither the Collateral Trustee nor any of its officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Collateral Trustee
hereinafter taken, including any review of the affairs of the Borrower or any of its 

  
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Affiliates, shall be deemed to constitute any representation or warranty by the Collateral Trustee to any such Person; and (ii) represents and warrants to the Collateral Trustee that it has
made its own independent investigation of the financial condition and affairs of each Credit Party and its subsidiaries in connection with its decision to extend credit to the Borrower and that it has made and shall continue to make its own
appraisal of the creditworthiness of each Credit Party and its subsidiaries. 
 (b) The Collateral Trustee shall not be responsible to any
First-Lien Secured Party for the execution, effectiveness, genuineness, validity, enforceability, collectability or sufficiency hereof or any other Financing Document or for any representations, warranties, recitals or statements made herein or
therein or made in any written or oral statements or in any financial or other statements, instruments, reports or certificates or any other documents furnished or made by the Collateral Trustee to First-Lien Secured Parties or by or on behalf of
any Credit Party, to any First-Lien Secured Party or the Collateral Trustee in connection with the Financing Documents and the transactions contemplated thereby or for the financial condition or business affairs of any Credit Party or any other
Person liable for the payment of any Obligations, nor shall the Collateral Trustee be required to ascertain or inquire as to the performance or observance of any of the terms, conditions, provisions, covenants or agreements contained in any of the
Financing Documents or as to the use of the proceeds of loans borrowed pursuant to the Credit Agreement, any Other Credit Agreement, any Reimbursement Agreement or any other Financing Document or as to the existence or possible existence, or absence
of, of any Event of Default or to make any disclosures with respect to the foregoing. 
 7.5 Collateral Trustee in Individual
Capacity. The agency hereby created shall in no way impair or affect any of the rights and powers of, or impose any duties or obligations upon, the Collateral Trustee in its individual capacity as a First-Lien Secured Party hereunder. With
respect to Obligations made or renewed by it or any of its Affiliates, the Collateral Trustee and its Affiliates shall have the same rights and powers under this Agreement and the other Financing Documents as any First-Lien Secured Party and may
exercise the same as though the Collateral Trustee were not the Collateral Trustee, and the terms “First-Lien Secured Party” and “First-Lien Secured Parties” shall (to the extent applicable), unless the context
clearly otherwise indicates, include the Collateral Trustee in its individual capacity. 
 7.6 Successor Collateral Trustee. Subject
to the appointment and acceptance of a successor Collateral Trustee as provided below, the Collateral Trustee may resign at any time by notifying each Secured Debt Representative. Upon any such resignation, the Required First-Lien Secured Parties
shall have the right to appoint a successor with, so long as no Event of Default arising from a non-payment by the Borrower or Insolvency or Liquidation Proceeding has occurred and is continuing, the consent of the Borrower (not to be unreasonably
withheld or delayed). If no successor shall have been so appointed by the Required First-Lien Secured Parties and approved by the Borrower (if applicable) and shall have accepted such appointment within 30 days after the retiring Collateral Trustee
gives notice of its resignation, then the retiring Collateral Trustee may, on behalf of the First-Lien Secured Parties with, so long as no Event of Default arising from a non-payment by the Borrower or Insolvency or Liquidation Proceeding has
occurred and is continuing, the consent of the Borrower (not to be unreasonably withheld or delayed), appoint a successor Collateral Trustee which shall be a bank with an office in New York, New York (or a bank having an Affiliate with such an
office) having a combined capital and surplus that is not less than $1,000,000,000 or an Affiliate of any such bank. Upon the acceptance of any appointment as Collateral Trustee hereunder by a successor bank, such successor shall succeed to and
become vested with all the rights, powers, privileges and duties of the retiring Collateral Trustee and the retiring Collateral Trustee shall be discharged from its duties and obligations hereunder. After the Collateral Trustee’s resignation
hereunder, the provisions of this Section 7 shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Collateral Trustee. 

  
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 7.7 Security Documents. Subject to Section 5 and the other terms of this Agreement,
prior to the Discharge of Obligations, without further written consent or authorization from the First-Lien Secured Parties, the Collateral Trustee shall execute any documents or instruments reasonably requested by the Borrower or the respective
Credit Parties to (i) in connection with any Asset Sale, release any Lien encumbering any item of Collateral that is the subject of such Asset Sale or other disposition of assets or to which the Required First-Lien Secured Parties have
otherwise consented, (ii) release any Person from a Guaranty in accordance with the terms of the Guarantee and Collateral Agreement or with respect to which Required First-Lien Secured Parties have otherwise consented, (iii) cause
obligations of the Credit Parties to become “Obligations” and the holders of such obligations to become “ First-Lien Secured Parties” as contemplated by Section 5.6 (including by countersigning Accession Agreements in
accordance therewith) or (iv) facilitate the nondisturbance of an easement, right-of-way or other similar Lien on a Mortgaged Property that is permitted under the terms of the Financing Documents. 

(a) Anything contained in any of the Financing Documents to the contrary notwithstanding, the Borrower, the Collateral Trustee and each
First-Lien Secured Party hereby agree that (i) no First-Lien Secured Party shall have any right individually to realize upon any of the Collateral or to enforce any Guaranty, it being understood and agreed that all powers, rights and remedies
under the Security Documents may be exercised solely by the Collateral Trustee and (ii) in the event of a foreclosure by the Collateral Trustee on any of the Collateral pursuant to a public or private sale or other disposition, the Collateral
Trustee or any First-Lien Secured Party may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition and the Collateral Trustee, as agent for and representative of the First-Lien Secured Parties (but not
any First-Lien Secured Party or First-Lien Secured Parties in its or their respective individual capacities unless the Required First-Lien Secured Parties 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 Collateral
Trustee at such sale or other disposition. 
 7.8 Indemnification. 

(a) Each Lender (through the Administrative Agent), any Other Lender (through any Other Administrative Agent), the L/C Issuer,
the First-Lien Secured Parties in respect of any Additional First-Lien Indebtedness (through the Secured Debt Representative in respect of such Additional First-Lien Indebtedness), each Interest Rate Hedge Bank, each Eligible Commodity Hedging
Counterparty and each Treasury Services Provider severally agrees to indemnify the Collateral Trustee (to the extent Collateral Trustee is not promptly reimbursed by any Credit Party) for and against such First-Lien Secured Party’s ratable
share of the Obligations (calculated on the basis of such First-Lien Secured Party’s then-current Outstanding Amount) of any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including
counsel fees and disbursements) or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against such Collateral Trustee in exercising its powers, rights or remedies or performing its duties hereunder or
under any of the Financing Documents or otherwise in its capacity as Collateral Trustee in any way relating to or arising out of the Financing Documents (collectively, the “Indemnified Costs”);
provided, however, that no First-Lien Secured Party shall be liable to the Collateral Trustee for any portion of any such Indemnified Costs resulting from the Collateral
Trustee’s gross negligence, bad faith or willful misconduct, as determined by a final and nonappealable decision of a court of competent jurisdiction. If any indemnity furnished to the Collateral Trustee for any purpose shall, in the opinion of
the Collateral Trustee, be insufficient or become impaired, the Collateral Trustee may call for additional indemnity and cease, or not commence, to do the acts indemnified against until such additional indemnity is furnished;
provided, in no event shall this sentence require any First-Lien Secured Party to indemnify the Collateral Trustee against any liability, obligation, loss, damage, penalty, action, judgment, suit, cost, expense or
disbursement in excess of such 

  
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First-Lien Secured Party’s ratable share thereof; and provided further, this sentence shall not be deemed to require any First-Lien Secured Party
to indemnify the Collateral Trustee against any liability, obligation, loss, damage, penalty, action, judgment, suit, cost, expense or disbursement described in the proviso in the immediately preceding sentence. 

(b) The agreements in this Section 7.8 shall survive termination of this Agreement. 

7.9 No Risk of Funds. None of the provisions of this Agreement or the other Financing Documents shall be construed to require the
Collateral Trustee in its individual capacity to expend or risk its own funds or otherwise to incur any personal financial liability in the performance of any of its duties hereunder or thereunder. 

SECTION 8. Reliance; Waivers; Etc. 

8.1 Reliance. Other than any reliance on the terms of this Agreement, the Collateral Trustee, the Administrative Agent (on behalf of
itself and each Lender), any Other Administrative Agent (on behalf of itself and any Other Lender), the L/C Issuer and each other First-Lien Secured Party acknowledges that it and each other First-Lien Secured Party has, independently and without
reliance on any First-Lien Secured Party and based on documents and information deemed by it appropriate, made its own credit analysis and decision to enter into such Financing Documents and be bound by the terms of this Agreement and it will
continue to make its own credit decision in taking or not taking any action under the Financing Document or this Agreement. 
 8.2 No
Warranties or Liability. The Collateral Trustee (on behalf of the First-Lien Secured Parties), the Administrative Agent (on behalf of itself and each Lender), any Other Administrative Agent (on behalf of itself and any Other Lender), the L/C
Issuer and each other First-Lien Secured Party acknowledges and agrees that no First-Lien Secured Party has made any express or implied representation or warranty, including with respect to the execution, validity, legality, completeness,
collectability or enforceability of any of the Financing Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. Except as otherwise expressly provided herein, the First-Lien Secured Parties will be entitled to
manage and supervise their respective loans and extensions of credit under the Financing Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. 

8.3 No Waiver. 
 (a) No
right of the First-Lien Secured Parties, the Collateral Trustee or any of them to enforce any provision of this Agreement or any other Financing Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part
of any Credit Party or by any act or failure to act by any First-Lien Secured Party or the Collateral Trustee, or by any noncompliance by any Person with the terms, provisions and covenants of this Agreement or any other Financing Document,
regardless of any knowledge thereof which the Collateral Trustee or any First-Lien Secured Party, or any of them, may have or be otherwise charged with. 

(b) Notwithstanding anything to the contrary in any of the Security Documents, none of the Security Documents shall be amended, modified or
supplemented in any manner materially adverse to any of the First-Lien Secured Parties (except as expressly contemplated hereby) or in any manner inconsistent with any of the provisions of this Agreement without the prior written consent of each
Secured Debt Representative. 

  
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 8.4 Obligations Unconditional. All rights, interests, agreements and obligations of each
of the Collateral Trustee, the Administrative Agent, any Other Administrative Agent, any L/C Issuer and the First-Lien Secured Parties, respectively, hereunder shall remain in full force and effect regardless of: 

(a) any lack of validity or enforceability of any Financing Documents; 

(b) except as otherwise expressly set forth in this Agreement, any change in the time, manner or place of payment of, or in any
other terms of, all or any of the Obligations or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of any Financing Document; 

(c) except as otherwise expressly set forth in this Agreement, any exchange of any security interest in any Collateral or any
other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the Obligations; 

(d) the commencement of any Insolvency or Liquidation Proceeding in respect of any Credit Party; or 

(e) any other circumstances which otherwise might constitute a defense available to, or a discharge of, any Credit Party in
respect of the Collateral Trustee, the Obligations or any First-Lien Secured Party. 
 SECTION 9. Miscellaneous. 

9.1 Conflicts. In the event of any conflict between the provisions of this Agreement and the provisions of any other Financing
Document, the provisions of this Agreement shall govern and control. 
 9.2 Effectiveness; Continuing Nature of this Agreement;
Severability. 
 (a) This Agreement shall become effective when executed and delivered by each of the parties hereto. 

(b) Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to any Credit Party shall include such Credit Party as debtor and
debtor-in-possession and any receiver or trustee for such Credit Party (as the case may be) in any Insolvency or Liquidation Proceeding. 

(c) This Agreement shall terminate and be of no further force and effect with respect to the Collateral Trustee, the Administrative Agent, any
Other Administrative Agent, any L/C Issuer, the other First-Lien Secured Parties and the Obligations, on the date of Discharge of Obligations, subject to the rights of the Collateral Trustee, the Administrative Agent, any Other Administrative Agent,
the L/C Issuer and the other First-Lien Secured Parties under Section 6.3. 
 (d) References in this Agreement to the “Other Credit
Agreement,” “Other Administrative Agent,” “Issuing Bank,” “L/C Issuer,” “Other Lenders,” “Other Required Lenders” and “Reimbursement Agreement” shall be effective on and after the
Other Credit Agreement Effective Date upon compliance with the following: 
 (i) each Secured Debt Representative, the Other
Administrative Agent and the L/C Issuer shall have received an Officer’s Certificate stating that indebtedness incurred pursuant to the Other Credit Agreement and the Reimbursement Agreement (including any guarantees thereof by the Credit
Parties) entered into by one or more Credit Parties is permitted (if addressed therein, or, otherwise not prohibited) by the Financing Documents at the time the Other Credit Agreement and the Reimbursement Agreement are entered into, to be secured
by a first-priority Lien on the Collateral; and 

  
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 (ii) the other Administrative Agent and the L/C Issuer shall have executed and
delivered to the Collateral Trustee an Accession Agreement in accordance with the provisions of this Agreement pursuant. 
 9.3
Amendments; Waivers. 
 (a) Subject to Sections 5.2(b), 5.5, 5.6, 9.3(b) and 9.3(c), no amendment, modification or waiver of any of
the provisions of this Agreement shall be deemed to be made unless the same shall be in writing signed on behalf of each Credit Party and the Collateral Trustee (with the consent of the Required First-Lien Secured Parties) or its authorized agent
and each waiver, if any, shall be a waiver only with respect to the specific instance involved and shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at
any other time. 
 (b) So long as any Event of Default shall have occurred and is continuing and notwithstanding Section 9.3(a), no
Credit Party shall have any right to consent to or approve any amendment, modification or waiver of any provision of this Agreement except to the extent its rights are directly affected (and the Credit Parties’ rights or obligations shall be
deemed to be directly affected, including, without limitation, by (A) any modification to the provisions relating to the designation of additional Obligations to be secured by the Collateral in accordance with Section 5.5 or 5.6,
(B) any release of Collateral or a Guaranty and (C) any other modification that is inconsistent with the terms of any Financing Document and is directly adverse to the rights of any Credit Party). 

(c) Notwithstanding the other provisions of this Section 9.3, the Credit Parties and the Collateral Trustee may (but shall have no
obligation to) amend or supplement this Agreement or the Security Documents without the consent of any First-Lien Secured Party: (i) to cure any ambiguity, defect or inconsistency; (ii) to make any change that would provide any additional
rights or benefits to the First-Lien Secured Parties; or (iii) to make, complete or confirm any grant of Collateral permitted or required by this Agreement or any of the Security Documents or any release of any Collateral that is otherwise
permitted under the terms of this Agreement and the Financing Documents. 
 (d) Each of the First-Lien Secured Parties waives any claim it
may now or hereafter have against the Collateral Trustee arising out of (i) any election by the Collateral Trustee (acting at the direction of the Required Lender Parties) in any Insolvency or Liquidation Proceeding of the application of
Section 1111(b) of the Bankruptcy Code or any similar Debtor Relief Law or (ii) subject to Section 6.1, any borrowing by, or grant of a security interest or administrative expense priority under Section 364 of the Bankruptcy Code
or any similar Debtor Relief Law, by, the Borrower or any other Credit Parties, as debtor-in-possession. Each of the First-Lien Secured Parties further agrees that it will not assert or enforce any claim under Section 506(c) of the Bankruptcy
Code senior to or on parity with the Liens securing any of the Obligations for costs or expenses of preserving or disposing of any Collateral. 

  
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 9.4 Voting. 

(a) Without limiting anything contained herein (including Sections 5.1, 5.5, 5.6, and 9.3) and other than ministerial and administrative acts
contemplated by the Security Documents to which it is a party, the Collateral Trustee shall not take any other action (including the exercise of remedies, the amendment of Security Documents, the granting of waivers under such Security Documents),
or grant its consent under any Security Documents, unless and to the extent directed to do so by the Required First-Lien Secured Parties or, to the extent expressly provided herein, the Required Lender Parties. If the Collateral Trustee determines
that discretion is needed in the taking of any action, it may refrain from taking such action until such directions or instructions are received and shall have no liability to the First-Lien Secured Parties for so refraining. Notwithstanding
anything to the contrary set forth herein but subject to the terms hereof, the Collateral Trustee hereby agrees that it will enter into (i) documents necessary in order to effect releases of Collateral in accordance with Section 5.1 and
(ii) Accession Agreements as contemplated by Sections 5.5, 5.6 and 9.16. 
 (b) In connection with any matter under this Agreement
requiring a vote of holders of Indebtedness with respect to a Series of Secured Debt, each Series of Secured Debt will cast its votes in accordance with the Financing Documents. In connection with any act or decision by the Required First-Lien
Secured Parties or Required Lenders under this Agreement or any of the Security Documents, (i) the vote of each Series of Secured Debt shall be calculated based on the Outstanding Amount owed to such Series of Secured Debt at the time the
applicable matter is presented for a vote and (ii) the vote of each Interest Rate Hedge Bank and Eligible Commodity Hedging Counterparty shall be calculated based on the Eligible Hedge Amount under the relevant Secured Hedge Agreement at the
time the applicable matter is presented for a vote. 
 9.5 Information Concerning Financial Condition of the Credit Parties. The
Agents and the First-Lien Secured Parties shall be responsible for keeping themselves informed of the financial condition of the Credit Parties and all endorsers and/or guarantors of the Obligations and all other circumstances bearing upon the risk
of nonpayment of the Obligations. No Secured Debt Representative or any other First-Lien Secured Party shall have any duty to advise any other Secured Debt Representative or other First-Lien Secured Party of information known to it or them regarding
such condition or any such circumstances or otherwise. In the event that any Secured Debt Representative or other First-Lien Secured Party, in its or their sole discretion, undertakes at any time or from time to time to provide any such information
to any other Secured Debt Representative or other First-Lien Secured Party, it or they shall be under no obligation: 
 (a)
to make, and the Secured Debt Representative and the other First-Lien Secured Parties shall not make, any express or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such
information so provided; 
 (b) to provide any additional information or to provide any such information on any subsequent
occasion; 
 (c) to undertake any investigation; or 

(d) to disclose any information, which pursuant to accepted or reasonable commercial finance practices, such party wishes to
maintain confidential or is otherwise required to maintain confidential. 

  
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 9.6 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVERS. 

(a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW
OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS TO THE EXTENT THAT THE SAME ARE NOT MANDATORILY APPLICABLE BY STATUTE AND WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION. ANY LEGAL ACTION OR PROCEEDING WITH
RESPECT TO THIS AGREEMENT SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS
AGREEMENT, EACH PARTY HERETO HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH PARTY HERETO HEREBY FURTHER IRREVOCABLY WAIVES (TO THE EXTENT
PERMITTED BY APPLICABLE LAW) ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER SUCH PARTY, AND AGREES NOT TO PLEAD OR CLAIM, IN ANY LEGAL ACTION PROCEEDING WITH RESPECT TO THIS AGREEMENT BROUGHT IN ANY OF THE AFOREMENTIONED COURTS, THAT
SUCH COURTS LACK PERSONAL JURISDICTION OVER SUCH PARTY. EACH PARTY HERETO FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED
OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS SET FORTH IN ANNEX I HERETO, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY
OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER THAT SERVICE OF PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN SHALL AFFECT THE RIGHT
OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 
 (b) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES (TO THE
EXTENT PERMITTED BY APPLICABLE LAW) ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT BROUGHT IN THE COURTS REFERRED TO IN
CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

(c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ALL RIGHT TO A TRIAL BY JURY
IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 9.7
Notices. Except as otherwise expressly provided herein, all notices and other communications provided for hereunder shall be in writing (including .pdf, telegraphic, telecopier or cable communication) and mailed, telegraphed, telecopied,
cabled or delivered: (i) if to any Credit Party, at the address specified on Annex I attached hereto and (ii) if to the Collateral Trustee, at the address specified on 

  
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Annex I attached hereto or, as to any Credit Party or the Collateral Trustee, at such other address as shall be designated by such party in a written notice to the other parties hereto. All
such notices and communications shall, when mailed, telegraphed, telecopied, or cabled or sent by overnight courier, be effective when deposited in the mails, delivered to the telegraph company, cable company or overnight courier, as the case may
be, or sent by telecopier, except that notices and communications to the Collateral Trustee and the Borrower shall not be effective until received by the Collateral Trustee or the Borrower, as the case may be. 

9.8 Further Assurances; Insurance. 

(a) The Borrower and the other Credit Parties will do or cause to be done all acts and things that may be required, or that the Collateral
Trustee from time to time may reasonably request, to assure and confirm that the Collateral Trustee holds, for the benefit of the holders of Obligations, duly created and enforceable and perfected Liens upon the Collateral (including any property or
assets that are acquired or otherwise become, or are required by any Financing Document to become, Collateral after the date hereof). 
 (b)
Upon the reasonable request of the Collateral Trustee at any time, the Borrower and the other Credit Parties will promptly execute, acknowledge and deliver such security documents, instruments, certificates, notices and other documents, and take
such other actions as may be reasonably required, or that the Collateral Trustee may reasonably request, to create, perfect, protect, assure or enforce the Liens and benefits intended to be conferred, in each case as contemplated by the Financing
Documents for the benefit of holders of Obligations. 
 (c) All insurance policies required to be in force and effect pursuant to the terms
of any Financing Document will name the Collateral Trustee as a loss payee and additional insured. 
 9.9 Binding on Successors and
Assigns. This Agreement shall be binding upon the Credit Parties, Collateral Trustee and the First-Lien Secured Parties, and their respective successors and assigns. 

9.10 Specific Performance. The Collateral Trustee may demand specific performance of this Agreement. The Collateral Trustee, on behalf
of the First-Lien Secured Parties, hereby irrevocably waives any defense based on the adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which may be brought by the
Collateral Trustee or the First-Lien Secured Parties. 
 9.11 Headings. The headings of the several sections and subsections of this
Agreement are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement. 

9.12 Counterparts. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of
which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement or any document or instrument delivered in connection herewith by
telecopy, facsimile or non-editable pdf file shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as applicable. 

9.13 Authorization. By its signature, each Person executing this Agreement on behalf of a party hereto represents and warrants to the
other parties hereto that it is duly authorized to execute this Agreement. 

  
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 9.14 No Third Party Beneficiaries. This Agreement and the rights and benefits hereof shall
inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the First-Lien Secured Parties. Nothing in this Agreement shall impair, as between the Credit Parties and the
Collateral Trustee and the First-Lien Secured Parties, or as among the Credit Parties, the obligations of the Credit Parties set forth in the Financing Documents. 

9.15 Provisions Solely to Define Relative Rights. The provisions of this Agreement are and are intended for the purpose of defining the
relative rights of the Collateral Trustee and the First-Lien Secured Parties and for the other express purposes provided herein. Nothing in this Agreement is intended to or shall impair the obligations of any Credit Party, which are absolute and
unconditional, to pay the Obligations as and when the same shall become due and payable in accordance with their terms. 
 9.16
Additional Guarantors. The Borrower represents and warrants that each Person who is a Credit Party on the date hereof has duly executed this Agreement. The Borrower shall cause each of its direct or indirect Subsidiaries that becomes a
Subsidiary Guarantor, or is required by the terms of any Financing Document to become a Subsidiary Guarantor, to become a party to this Agreement by causing such Subsidiary to execute and deliver to the parties hereto an Additional Guarantor
Accession Agreement, whereupon such Subsidiary shall be bound by the terms hereof to the same extent as if it had executed and delivered this Agreement as of the date hereof. The Borrower shall promptly provide, or cause to be provided, the
Collateral Trustee and each Secured Debt Representative with a copy of each Additional Guarantor Accession Agreement executed and delivered pursuant to this Section. 

9.17 Rights under Hedges. Each of the parties to this Agreement hereby acknowledges that nothing in this Agreement shall limit any
Credit Party’s rights under any Secured Hedge Agreement. 
 9.18 Insolvency. This Agreement shall be applicable both before and
after the commencement of any Insolvency or Liquidation Proceeding by or against any Credit Party. The relative rights, as provided for in this Agreement, shall continue after the commencement of any such Insolvency or Liquidation Proceeding on the
same basis as prior to the date of the commencement of any such case, as provided in this Agreement. 
 9.19 Rights and Immunities of
Secured Debt Representatives. The Administrative Agent will be entitled to all of the rights, protections, immunities and indemnities set forth in the Credit Agreement, any Other Administrative Agent will be entitled to all of the rights,
protections, immunities and indemnities set forth in any Other Credit Agreement, any L/C Issuer will be entitled to all of the rights, protections, immunities and indemnities set forth in any Reimbursement Agreement and any future Secured Debt
Representative will be entitled to all of the rights, protections, immunities and indemnities set forth in the applicable Financing Document with respect to which such Person will act as an agent or similar representative, in each case as if
specifically set forth herein. In no event will any Secured Debt Representative be liable for any act or omission on the part of the Credit Parties or the Collateral Trustee hereunder. 

9.20 Effectiveness of Obligations of RJS Credit Parties. Notwithstanding anything to the contrary in this Agreement, the obligations of
each RJS Credit Party (as defined in Schedule 13.16 to the Credit Agreement) pursuant to this Agreement shall be deemed to be of no force or effect until the RJS Release Date (as defined in Schedule 13.16 to the Credit Agreement) shall have
occurred. The provisions of this Section 9.20 shall immediately terminate and be of no further force and effect as of the RJS Release Date and from and after such date the obligations of each RJS Credit Party shall be effective to the extent
provided herein. 
 (signature pages follow) 

  
 -44- 

 IN WITNESS WHEREOF, the parties hereto have executed this Collateral Trust and Intercreditor
Agreement as of the date first written above. 
  

			
	 PPL ENERGY SUPPLY, LLC
 as
Borrower

		
	By:		/s/ Russell R. Clelland
			Name: Russell R. Clelland
			Title: Vice President and Treasurer

  
 -45- 

 
			
			 SUBSIDIARY GUARANTORS:
  

	 BARNEY M. DAVIS, LP
  

	By: 		 TOPAZ POWER GROUP GP II, LLC
 its sole
General Partner
  

	By:		 TOPAZ POWER HOLDINGS, LLC
 its Managing
Member
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 BRANDON SHORES LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 C/R TOPAZ HOLDINGS, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 FORT ARMISTEAD ROAD - LOT 15 LANDFILL, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	 H.A. WAGNER LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 JADE POWER GENERATION HOLDINGS LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 LAREDO WLE, LP
  

	By:		 TOPAZ POWER GROUP GP II, LLC
 its sole
General Partner
  

	By:		 TOPAZ POWER HOLDINGS, LLC
 its Managing
Member
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 LOWER MOUNT BETHEL ENERGY, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	NUECES BAY WLE, LP
		
	 By: 
		 TOPAZ POWER GROUP GP II, LLC

 its sole
General Partner

		
	 By: 
		 TOPAZ POWER HOLDINGS, LLC
 its Managing
Member

		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PENNSYLVANIA MINES, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL BRUNNER ISLAND, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL ENERGYPLUS, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	PPL GENERATION, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL INVESTMENT CORPORATION
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: President
	
	PPL MARTINS CREEK, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL MONTOUR, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer
	
	PPL SUSQUEHANNA, LLC
		
	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	 RAVEN FS PROPERTY HOLDINGS LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN LOT 15 LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN POWER FINANCE LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN POWER FORT SMALLWOOD LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN POWER GENERATION HOLDINGS LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	 RAVEN POWER MARKETING LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RAVEN POWER OPERATING LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RJS POWER HOLDINGS LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 RJS POWER LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 TOPAZ POWER GROUP GP II, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	 TOPAZ POWER GROUP LP II, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			 Title: Vice President and Treasurer
  

	 TOPAZ POWER HOLDINGS, LLC
  

	By:		 /s/ Russell R. Clelland

			Name: Russell R. Clelland
			Title: Vice President and Treasurer

 
			
	 CITIBANK, N.A.,

individually as Administrative Agent and Collateral Trustee

		
	By:		/s/ Kirkwood Roland
			Name:  Kirkwood Roland
			Title:    Managing Director & Vice President

 ANNEX I 

NOTICES 
 Borrower or any Subsidiary
Guarantor: 
 PPL Energy Supply, LLC 
 835 W.
Hamilton Ave. 
 Allentown, PA 18101 
 Attention: General
Counsel 
 Telephone: 610-774-4918 
 Telecopy: 610-774-2755 

with a copy to: 
 PPL Energy Supply, LLC 

835 W. Hamilton Ave. 
 Allentown, PA 18101 

Attention: Treasurer 
 Telephone No.: 610-774-4480 

Telecopier No.: 610-774-4511 
 Administrative Agent or the
Collateral Trustee: 
 Citibank, N.A., 
 Citigroup Global
Markets Inc. 
 580 Crosspoint Pkwy 
 Getzville, NY 14068 

E-Mail: CRMS.NA.Documentation@citi.com 
 with a copy to: 

Citibank, N.A. 
 Citigroup Global Markets Inc. 

1615 Brett Road, Ops III 
 New Castle, DE 19720 

Attention: Global Loans Support 
 Telephone No.: 302-894-6010 

Telecopier No.: 646-274-5080 
 E-Mail:
Global.Loans.Support@citi.com 

  
 ANNEX I-1 

 ANNEX II 

EXISTING COMMODITY HEDGING AGREEMENTS 

  
 ANNEX II-1 

 EXHIBIT A 

FORM OF 
 ACCESSION
AGREEMENT — First-Lien Secured Parties 
 THIS ACCESSION AGREEMENT (this
“Agreement”), dated as of [            ], 20[            ], is entered into by
[            ], a [            ] (the “Joining Party”), and acknowledged by PPL ENERGY SUPPLY, LLC, a
Delaware limited liability company (the “Borrower”) and each Credit Party, and CITIBANK, N.A., in its capacity as Collateral Trustee under the Intercreditor Agreement (as defined below). 

Reference is made to that certain Collateral Trust and Intercreditor Agreement (as amended, modified, restated or supplemented
from time to time, the “Intercreditor Agreement”), dated as of [            ] by and among the Borrower, the Subsidiary Guarantors, the Collateral Trustee, the
Administrative Agent and each of the other Persons party thereto from time to time in accordance with the terms thereof. Capitalized terms used herein without definition shall have the meaning assigned thereto in the Intercreditor Agreement. This
Accession Agreement is being executed and delivered pursuant to Section 5.6(a) of the Collateral Trust Agreement. 

[Option A — where Joining Party is an agent under an Additional First-Lien Indebtedness Agreement, the Other Credit
Agreement or the Reimbursement Agreement or the refinanced Credit Agreement] The Joining Party, as agent under [describe applicable Additional First-Lien Indebtedness Agreement, the Other Credit Agreement or the Reimbursement Agreement or
the refinanced Credit Agreement], hereby becomes a SECURED DEBT REPRESENTATIVE under the Intercreditor Agreement. 

[Option B — where Joining Party is an [ELIGIBLE COMMODITY HEDGING COUNTERPARTY]/ [INTEREST RATE HEDGE
BANK]/[TREASURY SERVICES PROVIDER]] under [describe applicable Secured Commodity Hedge, Secured Interest Rate Hedge or Secured Treasury Services Agreement] hereby becomes a FIRST-LIEN SECURED PARTY under the Intercreditor
Agreement. 
 Each of the Borrower and the Joining Party hereby agree for the benefit of the First-Lien Secured Parties as
follows: 
 (1) The Joining Party hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the
Joining Party will be deemed to be a party to the Intercreditor Agreement, and, from and after the date hereof, shall have all of the obligations of a [SECURED DEBT REPRESENTATIVE]/[FIRST-LIEN SECURED PARTY]/[ELIGIBLE COMMODITY HEDGING
COUNTERPARTY]/[INTEREST RATE HEDGE BANK]/[TREASURY SERVICES PROVIDER] thereunder as if it had executed the Intercreditor Agreement. The Joining Party hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and
conditions applicable to the [SECURED DEBT REPRESENTATIVE]/[FIRST-LIEN SECURED PARTY]/[ELIGIBLE COMMODITY HEDGING COUNTERPARTY]/[INTEREST RATE HEDGE BANK]/ ]/[FIRST-LIEN SECURED PARTY IN ITS CAPACITY AS A LENDER OR ISSUING BANK UNDER AN ADDITIONAL
FIRST-LIEN INDEBTEDNESS AGREEMENT]/[TREASURY SERVICES PROVIDER] contained in the Intercreditor Agreement. The first-lien obligations to be secured under [describe applicable Financing Document] are hereby designated
“Obligations” and will be secured equally and ratably with all existing and future Obligations permitted by the Financing Documents. 

  
 A-1 

 [(2) To the extent the Joining Party is joining as a Secured Debt Representative
as agent or trustee for one or more First-Lien Secured Parties, the Joining Party acknowledges that it has the authority to bind such First-Lien Secured Parties to the Intercreditor Agreement and such First-Lien Secured Parties are hereby bound by
the terms and conditions of the Intercreditor Agreement.] 
 [(2)][(3)] The Joining Party hereby agrees [(on behalf of itself
and any First-Lien Secured Party claiming through it)] to comply with the terms of the Intercreditor Agreement. 

[(3)][(4)] Each of the undersigned Credit Parties hereby consents to the designation of [describe applicable Financing
Document] as Obligations as set forth herein and hereby confirms its respective guarantees, pledges, grants of security interests and other obligations, as applicable, under and subject to the terms of each of the Financing Documents to
which it is party, and agrees that, notwithstanding the designation of such additional indebtedness or any of the transactions contemplated thereby, such guarantees, pledges, grants of security interests and other obligations, and the terms of each
Financing Document to which it is a party, are not impaired or adversely affected in any manner whatsoever and shall continue to be in full force and effect and such additional secured debt shall be entitled to all of the benefits of such Financing
Documents. 
 [(4)][(5)] The address of the Joining Party for purposes of all notices and other communications under the
Intercreditor Agreement is [ , ], Attention of [            ] (Facsimile No. [            ], electronic mail
address: [            ]). 
 [(5)][(6)] This Agreement may be
executed in two or more counterparts, each of which shall constitute an original but all of which when taken together shall constitute one contract. 

[(6)][(7)] The provisions of Section 9.6 of the Intercreditor Agreement will apply with like effect to this Accession
Agreement. 

  
 A-2 

 IN WITNESS WHEREOF, each of the Joining Party, each Credit Party and the Collateral Trustee has
caused this Accession Agreement to be duly executed by its respective authorized representative, as of the day and year first above written. 
  

			
	[JOINING PARTY]
		
	By:		 
			Name:
			Title:

  

			
	 Acknowledged:
  

PPL ENERGY SUPPLY, LLC

		
	By:		 
			Name:
			Title:

  

			
	[INSERT DETAILS OF ALL CREDIT PARTIES UNDER SECURITY DOCUMENTS AS AT DATE OF THIS ACCESSION AGREEMENT]
		
	By:		 
			Name:
			Title:

  

			
	 Acknowledged:
  

CITIBANK, N.A., as Collateral Trustee

		
	By:		 
			Name:
			Title:

  
 A-3 

 EXHIBIT B 

FORM OF 
 ADDITIONAL
GUARANTOR ACCESSION AGREEMENT 
 Reference is made to that certain Collateral Trust and Intercreditor Agreement (as
amended, modified, restated or supplemented from time to time, the “Intercreditor Agreement”), dated as of [            ] by and among the Borrower, the Subsidiary
Guarantors, the Collateral Trustee, the Administrative Agent and each of the other Persons party thereto from time to time in accordance with the terms thereof. Capitalized terms used herein without definition shall have the meaning assigned thereto
in the Intercreditor Agreement. This Additional Guarantor Accession Agreement is being executed and delivered pursuant to Section 9.16 of the Intercreditor Agreement. 

1. Joinder. The undersigned,             , a
            , hereby agrees to become party as a Credit Party under the Intercreditor Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the
Intercreditor Agreement as fully as if the undersigned had executed and delivered the Intercreditor Agreement as of the date thereof. 

2. Governing Law and Miscellaneous Provisions. The provisions of Section 9.6 of the Intercreditor Agreement
will apply with like effect to this Additional Guarantor Accession Agreement. 
 IN WITNESS WHEREOF, the parties hereto have
caused this Additional Guarantor Accession Agreement to be executed by their respective officers or representatives as of                 ,
20        . 
  

			
	[            ]
		
	By:		 
			Name:
			Title:

 The Collateral Trustee hereby acknowledges receipt of this Additional Guarantor Accession Agreement and
agrees to act as Collateral Trustee with respect to the Collateral pledged by the new Credit Party: 

                , as Collateral Trustee 

  
 B-1

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