Document:

EX-10.14A

 Exhibit 10.14A 

AMENDMENT NO. 2 AND WAIVER TO CREDIT AGREEMENT 

AMENDMENT NO. 1 TO GUARANTEE 

AND COLLATERAL AGREEMENT 

AMENDMENT NO. 2 AND WAIVER TO CREDIT AGREEMENT dated as of September 15, 2014 to the Credit Agreement dated as of August 27, 2013
(as heretofore amended, the “Credit Agreement”) among BOX, INC. (the “Borrower”), the LENDERS party thereto (the “Lenders”) and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent (the
“Administrative Agent”) and Amendment No. 1 to Guarantee and Collateral Agreement dated as of August 27, 2013 (the “Guarantee and Collateral Agreement”) among the Borrower, the guarantors party thereto
(the “Guarantors”) and Credit Suisse AG, Cayman Islands Branch, as Collateral Agent (the “Collateral Agent”). 

W I T N E S S E T H : 

WHEREAS, Section 9.07 of the Credit Agreement permits the Credit Agreement to be amended, or certain Defaults or Events of Default
thereunder to be waived, from time to time by the Borrower and the Lenders; 
 WHEREAS, the Borrower, the Administrative Agent and each
Lender have agreed to amend certain provisions of the Credit Agreement and to waive certain Defaults or Events of Default, subject to the terms and conditions set forth herein; 

WHEREAS, Section 25 of the Guarantee and Collateral Agreement permits the Guarantee and Collateral Agreement to be amended from time to
time by the Borrower, the Collateral Agent, the Lenders and the Guarantors; and 
 WHEREAS, the Borrower, the Collateral Agent, the
Guarantors and each Lender have agreed to amend certain provisions of the Guarantee and Collateral Agreement, subject to the terms and conditions set forth herein. 

NOW, THEREFORE, the parties hereto agree as follows: 

SECTION 1. Defined Terms; References. Unless otherwise specifically defined herein, each term used herein that is defined in the
Credit Agreement has the meaning assigned to such term in the Credit Agreement. Each reference to “hereof”, “hereunder”, “herein” and “hereby” and each other similar reference and each reference to “this
Agreement” and each other similar reference contained in the Credit Agreement or the Guarantee and Collateral Agreement shall, after this Amendment becomes effective, refer to the Credit Agreement or the Guarantee and Collateral Agreement as
amended hereby, as applicable. 
 SECTION 2. Amendments to Credit Agreement. The Credit Agreement (including, without
limitation, Schedules 1.01(c), 2.01(a) and 2.01(b) attached thereto) is, effective as of the Amendment Effective Date (as defined below), hereby amended to read as set forth in the conformed copy of the Credit Agreement attached hereto as
Exhibit A. 

 SECTION 3. Amendments to Guarantee and Collateral Agreement. The Guarantee and
Collateral Agreement is, effective as of the Amendment Effective Date, hereby amended by amending the definition of “Release Conditions” therein by (i) replacing the period at the end of clause (iii) thereof with “;”
and (ii) adding a proviso at the end thereof that reads as follows: 
 “provided that the condition in
clause (iii) shall not apply to outstanding Letters of Credit if (x) no Event of Default has occurred and is continuing and (y) the Borrower has granted to the Administrative Agent, for the benefit of the Lenders, a security interest
in Permitted Investments acceptable to each Issuing Bank having an outstanding Letter of Credit (or causes a bank acceptable to each such Issuing Bank to issue a letter of credit naming the Administrative Agent as beneficiary) in an amount exceeding
105% of the L/C Exposure (plus any accrued and unpaid interest thereon) as of the date of such termination, on terms and conditions and pursuant to documentation reasonably satisfactory to each such Issuing Bank.” 

SECTION 4. Waiver. Effective as of the Amendment Effective Date, the Lenders hereby waive any Default or Event of Default which
may exist as of the Amendment Effective Date as a result of the Borrower’s failure to deliver an accurate update to Schedule 1.01(c) to the Credit Agreement as required under Section 5.04(c) of the Credit Agreement on or prior to the
Amendment Effective Date. The waiver granted pursuant to this Section 4 shall be limited precisely as written, and shall not extend to any Default or Event of Default under any other provision of the Credit Agreement or to any Default or Event
of Default as a result of any failure to comply with Section 5.04(c) of the Credit Agreement which may occur after the Amendment Effective Date. 

SECTION 5. Representations of Borrower. The Borrower represents and warrants that (i) the representations and warranties set
forth in Article 3 of the Credit Agreement and in the other Loan Documents will be true in all material respects on and as of the Amendment Effective Date and (ii) no Default will have occurred and be continuing on such date. 

SECTION 6. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New York.

 SECTION 7. Effectiveness. This Amendment shall become effective on the date (the “Amendment Effective Date”)
when the Administrative Agent shall have received from each of the Borrower, the Guarantors, the Collateral Agent and each Lender a counterpart hereof signed by such party or facsimile or other written confirmation (in form satisfactory to the
Administrative Agent) that such party has signed a counterpart hereof; provided that, after giving effect to all Credit Events as of such date, the aggregate principal amount of all Loans outstanding as of such date does not exceed
$40,000,000. 
 SECTION 8. Miscellaneous. This Amendment may be signed in any number of counterparts, each of which shall be an
original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Amendment shall constitute a Loan Document for all purposes of the Loan Documents. In accordance with Section 9.05 of the Credit
Agreement, the Borrower agrees to reimburse the Administrative Agent for its reasonable and documented out-of-pocket expenses in 

  
 2 

 
connection with this Agreement, including the reasonable and documented fees, charges and disbursements of counsel for the Administrative Agent. The Borrower acknowledges and agrees that the
Administrative Agent, each Lender and each Related Party of any of the foregoing shall be entitled to the benefit of the indemnity provisions of Section 9.05 of the Credit Agreement, as if each such person was included in the definition of
“Indemnitee” thereunder, this Agreement was the “Agreement” referred to therein and the transactions contemplated hereunder were the “transactions” referred to therein. Except as expressly set forth herein, this
Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of any Lender or the Administrative Agent under the Credit Agreement or any other Loan Document, and shall not alter,
modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement, the Guarantee and Collateral Agreement or any other Loan Document, all of which are ratified and affirmed in all
respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle any Loan Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or
agreements contained in the Credit Agreement, the Guarantee and Collateral Agreement or any other Loan Document in similar or different circumstances. 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the
date first above written. 
  

					
	BOX, INC
		
	By:	 	 /s/ Dylan Smith

		 	Name:	 	Dylan Smith
		 	Title:	 	CFO
		
	By:	 	 /s/ Peter McGoff

		 	Name:	 	Peter McGoff
		 	Title:	 	General Counsel

  
 [Signature Page to
Amendment No. 2 to the Credit Agreement] 

 
					
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, individually and as Administrative Agent and Collateral Agent
		
	By:	 	 /s/ Bill O’Daly

		 	Name:	 	Bill O’Daly
		 	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Stanley Tran

		 	Name:	 	Stanley Tran
		 	Title:	 	Authorized Signatory

  
 [Signature Page to
Amendment No. 2 to the Credit Agreement] 

 
					
	JPMorgan Chase Bank, N. A.
		
	By:	 	 /s/ John Kowalczuk

		 	Name:	 	John Kowalczuk
		 	Title:	 	Executive Director

  
 [Signature Page to
Amendment No. 2 to the Credit Agreement] 

 
					
	Morgan Stanley Senior Funding, Inc.
		
	By:	 	 /s/ Michael King

		 	Name:	 	Michael King
		 	Title:	 	Vice President

  
 [Signature Page to
Amendment No. 2 to the Credit Agreement] 

 
			
	Bank of Montreal
		
	By:	 	 /s/ [illegible]

		 	Name:
		 	Title:

  
 [Signature Page to
Amendment No. 2 to the Credit Agreement] 

 EXHIBIT A 

CREDIT AGREEMENT 

  

CREDIT AGREEMENT 
 dated as of

 August 27, 2013, 
 as
amended by Amendment No. 1 dated as of June 19, 2014 and 
 Amendment No. 2 and Waiver dated as of September 15, 2014,

 among 
 BOX, INC., 

as Borrower, 
 THE LENDERS PARTY
HERETO 
 and 
 CREDIT SUISSE
AG, CAYMAN ISLANDS BRANCH, 
 as Administrative Agent and Collateral Agent 

CREDIT SUISSE SECURITIES (USA) LLC 

as Sole Bookrunner and Sole Lead Arranger 
  

 

 TABLE OF CONTENTS 

 
  

 

							
	 	 	 	  	PAGE	 
	
	ARTICLE 1 	  
	DEFINITIONS	  
			
	 Section 1.01.
	 	 Defined Terms
	  	 	1	  
	Section 1.02.	 	 Terms Generally
	  	 	27	  
	Section 1.03.	 	 Classification of Loans and Borrowings
	  	 	28	  
	Section 1.04.	 	 Letter of Credit Amounts
	  	 	28	  
	
	ARTICLE 2	  
	THE CREDITS	  
			
	Section 2.01.	 	 Commitments
	  	 	29	  
	Section 2.02.	 	 Loans
	  	 	29	  
	Section 2.03.	 	 Borrowing Procedure
	  	 	31	  
	Section 2.04.	 	 Evidence of Debt; Repayment of Loans
	  	 	31	  
	Section 2.05.	 	 Fees
	  	 	32	  
	Section 2.06.	 	 Interest on Loans
	  	 	33	  
	Section 2.07.	 	 Default Interest
	  	 	33	  
	Section 2.08.	 	 Alternate Rate of Interest
	  	 	34	  
	Section 2.09.	 	 Termination and Reduction of Commitments
	  	 	34	  
	Section 2.10.	 	 Conversion and Continuation of Borrowings
	  	 	34	  
	Section 2.11.	 	 Voluntary Prepayment
	  	 	36	  
	Section 2.12.	 	 Mandatory Prepayments
	  	 	36	  
	Section 2.13.	 	 Increased Costs; Capital Adequacy
	  	 	37	  
	Section 2.14.	 	 Change in Legality
	  	 	38	  
	Section 2.15.	 	 Breakage
	  	 	39	  
	Section 2.16.	 	 Pro Rata Treatment
	  	 	39	  
	Section 2.17.	 	 Sharing of Setoffs
	  	 	40	  
	Section 2.18.	 	 Payments
	  	 	40	  
	Section 2.19.	 	 Taxes
	  	 	41	  
	Section 2.20.	 	 Assignment of Commitments under Certain Circumstances; Duty to Mitigate
	  	 	45	  
	Section 2.21.	 	 Letters of Credit
	  	 	46	  
	Section 2.22.	 	 Cash Collateral
	  	 	50	  
	Section 2.23.	 	 Defaulting Lender
	  	 	52	  
	Section 2.24.	 	 Incremental Facilities
	  	 	54	  
	Section 2.25.	 	 Amend and Extend Transactions
	  	 	55	  

  
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	ARTICLE 3	  
	REPRESENTATIONS AND WARRANTIES	  
			
	Section 3.01.	 	 Organization; Powers
	  	 	57	  
	Section 3.02.	 	 Authorization
	  	 	57	  
	Section 3.03.	 	 Enforceability
	  	 	58	  
	Section 3.04.	 	 Governmental Approvals
	  	 	58	  
	Section 3.05.	 	 Financial Statements
	  	 	58	  
	Section 3.06.	 	 No Material Adverse Effect
	  	 	58	  
	Section 3.07.	 	 Title to Properties; Possession under Leases
	  	 	58	  
	Section 3.08.	 	 Subsidiaries
	  	 	59	  
	Section 3.09.	 	 Litigation; Compliance with Laws
	  	 	59	  
	Section 3.10.	 	 Agreements
	  	 	59	  
	Section 3.11.	 	 Federal Reserve Regulations
	  	 	60	  
	Section 3.12.	 	 Investment Company Act
	  	 	60	  
	Section 3.13.	 	 Use of Proceeds
	  	 	60	  
	Section 3.14.	 	 Taxes
	  	 	60	  
	Section 3.15.	 	 No Material Misstatements
	  	 	60	  
	Section 3.16.	 	 Employee Benefit Plans
	  	 	60	  
	Section 3.17.	 	 Environmental Matters
	  	 	61	  
	Section 3.18.	 	 Insurance
	  	 	62	  
	Section 3.19.	 	 Security Documents
	  	 	62	  
	Section 3.20.	 	 Location of Real Property and Leased Premises
	  	 	63	  
	Section 3.21.	 	 Intellectual Property
	  	 	63	  
	Section 3.22.	 	 Labor Matters
	  	 	63	  
	Section 3.23.	 	 Solvency
	  	 	64	  
	Section 3.24.	 	 Sanctioned Persons
	  	 	64	  
	Section 3.25.	 	 Foreign Corrupt Practices Act
	  	 	64	  
	Section 3.26.	 	 Anti-Terrorism Law
	  	 	64	  
	
	ARTICLE 4	  
	CONDITIONS OF LENDING	  
			
	Section 4.01.	 	 All Credit Events
	  	 	64	  
	Section 4.02.	 	 First Credit Event
	  	 	65	  
	
	ARTICLE 5	  
	AFFIRMATIVE COVENANTS	  
			
	Section 5.01.	 	 Existence; Compliance with Laws; Businesses and Properties
	  	 	68	  
	Section 5.02.	 	 Insurance
	  	 	68	  
	Section 5.03.	 	 Obligations and Taxes
	  	 	70	  
	Section 5.04.	 	 Financial Statements, Reports, etc.
	  	 	70	  
	Section 5.05.	 	 Litigation and Other Notices
	  	 	71	  
	Section 5.06.	 	 Information Regarding Collateral
	  	 	72	  
	Section 5.07.	 	 Maintaining Records; Access to Properties and Inspections
	  	 	72	  

  
 ii 

							
	Section 5.08.	 	Use of Proceeds	  	 	72	  
	Section 5.09.	 	Employee Benefits	  	 	72	  
	Section 5.10.	 	Compliance with Environmental Laws	  	 	73	  
	Section 5.11.	 	Preparation of Environmental Reports	  	 	73	  
	Section 5.12.	 	Further Assurances	  	 	73	  
	
	ARTICLE 6	  
	NEGATIVE COVENANTS	  
			
	Section 6.01.	 	Indebtedness	  	 	74	  
	Section 6.02.	 	Liens	  	 	76	  
	Section 6.03.	 	Sale and Lease-Back Transactions	  	 	78	  
	Section 6.04.	 	Investments, Loans and Advances	  	 	78	  
	Section 6.05.	 	Mergers and Consolidations	  	 	80	  
	Section 6.06.	 	Dispositions	  	 	80	  
	Section 6.07.	 	Restricted Payments; Restrictive Agreements	  	 	81	  
	Section 6.08.	 	Transactions with Affiliates	  	 	82	  
	Section 6.09.	 	Business of the Borrower and Subsidiaries	  	 	82	  
	Section 6.10.	 	Other Indebtedness and Agreements	  	 	82	  
	Section 6.11.	 	Minimum Liquidity	  	 	83	  
	Section 6.12.	 	Fiscal Year	  	 	83	  
	Section 6.13.	 	Certain Equity Securities	  	 	83	  
	
	ARTICLE 7	  
	EVENTS OF DEFAULT	  
			
	Section 7.01.	 	Events of Default	  	 	83	  
	Section 7.02.	 	Application of Proceeds	  	 	85	  
	
	ARTICLE 8	  
	THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT	  
			
	Section 8.01.	 	Appointment and Authority	  	 	86	  
	Section 8.02.	 	Rights as a Lender	  	 	86	  
	Section 8.03.	 	Exculpatory Provisions	  	 	86	  
	Section 8.04.	 	Reliance by Administrative Agent	  	 	87	  
	Section 8.05.	 	Delegation of Duties	  	 	87	  
	Section 8.06.	 	Resignation of the Administrative Agent	  	 	88	  
	Section 8.07.	 	Non-Reliance on Administrative Agent and Other Lenders	  	 	88	  
	Section 8.08.	 	No Other Duties, etc.	  	 	89	  
	Section 8.09.	 	Agent May File Proofs of Claim	  	 	89	  
	Section 8.10.	 	Collateral and Guarantee Matters	  	 	89	  

  
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	ARTICLE 9	  
	MISCELLANEOUS	  
			
	Section 9.01.	 	 Notices; Electronic Communications
	  	 	90	  
	Section 9.02.	 	 Survival of Agreement
	  	 	93	  
	Section 9.03.	 	 Binding Effect
	  	 	94	  
	Section 9.04.	 	 Successors and Assigns
	  	 	94	  
	Section 9.05.	 	 Expenses; Indemnity
	  	 	99	  
	Section 9.06.	 	 Right of Setoff
	  	 	101	  
	Section 9.07.	 	 Waivers; Amendment
	  	 	101	  
	Section 9.08.	 	 Interest Rate Limitation
	  	 	103	  
	Section 9.09.	 	 Entire Agreement
	  	 	103	  
	Section 9.10.	 	 WAIVER OF JURY TRIAL
	  	 	103	  
	Section 9.11.	 	 Severability
	  	 	104	  
	Section 9.12.	 	 Counterparts
	  	 	104	  
	Section 9.13.	 	 Headings
	  	 	104	  
	Section 9.14.	 	 Applicable Law
	  	 	104	  
	Section 9.15.	 	 Jurisdiction; Consent to Service of Process
	  	 	105	  
	Section 9.16.	 	 Electronic Execution of Assignments
	  	 	105	  
	Section 9.17.	 	 Confidentiality
	  	 	105	  
	Section 9.18.	 	 Lender Action
	  	 	106	  
	Section 9.19.	 	 USA PATRIOT Act Notice
	  	 	106	  
	Section 9.20.	 	 No Fiduciary Duty
	  	 	107	  

  

					
	SCHEDULES
			
	Schedule 1.01(a)	  	-	  	Disqualified Lenders
	Schedule 1.01(b)	  	-	  	Guarantors
	Schedule 1.01(c)	  	-	  	Immaterial Subsidiaries
	Schedule 2.01(a)	  	-	  	Lenders and Commitments
	Schedule 2.01(b)	  	-	  	L/C Commitments
	Schedule 3.08	  	-	  	Subsidiaries
	Schedule 3.18	  	-	  	Insurance
	Schedule 3.19(a)	  	-	  	UCC Filing Offices
	Schedule 3.20(a)	  	-	  	Owned Real Property
	Schedule 3.20(b)	  	-	  	Leased Real Property
	Schedule 6.01(a)	  	-	  	Existing Indebtedness
	Schedule 6.02(a)	  	-	  	Existing Liens

  
 iv 

					
	EXHIBITS
			
	Exhibit A	  	-	  	Form of Administrative Questionnaire
	Exhibit B	  	-	  	Form of Affiliate Subordination Agreement
	Exhibit C	  	-	  	Form of Assignment and Acceptance
	Exhibit D	  	-	  	Form of Borrowing Request
	Exhibit E	  	-	  	Form of Compliance Certificate
	Exhibit F	  	-	  	Form of Guarantee and Collateral Agreement
	Exhibit G	  	-	  	Form of Interest Election Request
	Exhibit H	  	-	  	Form of Revolving Note
	Exhibit I-1	  	-	  	Form of U.S. Tax Compliance Certificate
	Exhibit I-2	  	-	  	Form of U.S. Tax Compliance Certificate
	Exhibit I-3	  	-	  	Form of U.S. Tax Compliance Certificate
	Exhibit I-4	  	-	  	Form of U.S. Tax Compliance Certificate

  
 v 

 CREDIT AGREEMENT dated as of August 27, 2013 (this “Agreement”), among BOX,
INC., a Delaware corporation (the “Borrower”), the Lenders (such term and each other capitalized term used but not defined in these introductory statements having the meaning given it in Article 1) and CREDIT SUISSE AG, CAYMAN
ISLANDS BRANCH, as administrative agent (in such capacity, including any successor thereto, the “Administrative Agent”) and as collateral agent (in such capacity, including any successor thereto, the “Collateral
Agent”) for the Lenders. 
 The Borrower has requested that the Lenders extend credit in the form of revolving Loans to the
Borrower at any time and from time to time prior to the Maturity Date, in an aggregate principal amount at any time outstanding not in excess of $75,000,000. The Borrower has requested the Issuing Bank issue Letters of Credit, in an aggregate face
amount at any time outstanding not in excess of the L/C Sublimit, to support payment obligations incurred in the ordinary course of business by the Borrower and its Subsidiaries. The proceeds of the Loans are to be used by the Borrower solely to
(a) on the date of the initial extension of credit hereunder, (i) consummate the Refinancing and (ii) pay the Transaction Costs and (b) from time to time for general corporate purposes of the Borrower and its Subsidiaries. 

The Lenders are willing to extend such credit to the Borrower, and the Issuing Bank is willing to issue Letters of Credit for the account of
the Borrower, in each case on the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows: 

ARTICLE 1 

DEFINITIONS 

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

“ABR Loan” or “ABR Borrowing” shall mean a Loan or a Borrowing consisting of Loans bearing interest at a
rate determined by reference to the Alternate Base Rate. 
 “Acquired Entity” shall have the meaning assigned to such term
in Section 6.04(g). 
 “Additional Credit Extension Amendment” shall mean an amendment to this Agreement (which may,
at the option of the Administrative Agent, be in the form of an amendment and restatement of this Agreement) providing for any Incremental Commitments pursuant to Section 2.24, which shall be consistent with the applicable provisions of this
Agreement and otherwise satisfactory to the parties thereto. Each Additional Credit Extension Amendment shall be executed by the Administrative Agent, the Issuing Bank (to the extent Section 9.04 would require the consent of the Issuing Bank
for the amendments effected in such Additional Credit Extension Amendment), the Loan Parties and the other parties specified in Section 2.24 (but not any other Lender). Any Additional Credit Extension Amendment may include conditions for
delivery of opinions of counsel and other documentation consistent with the conditions in Sections 4.01 and/or 4.02, all to the extent reasonably requested by the Administrative Agent or the other parties to such Additional Credit Extension
Amendment. 

 “Additional Lender” shall mean, at any time, any Person that is not an existing
Lender and that agrees to provide any portion of any Incremental Commitments in accordance with Section 2.24 pursuant to an Additional Credit Extension Amendment; provided that such Additional Lender shall be an Eligible Assignee with
respect to the Commitments. 
 “Adjusted LIBO Rate” shall mean, with respect to any Eurodollar Borrowing for any Interest
Period, an interest rate per annum equal to the product of (i) the LIBO Rate in effect for such Interest Period and (ii) Statutory Reserves. 

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

“Administrative Agent Fees” shall have the meaning assigned to such term in Section 2.05(b). 

“Administrative Questionnaire” shall mean an Administrative Questionnaire in the form of Exhibit A, or such other form
as may be supplied from time to time by the Administrative Agent. 
 “Affiliate” shall mean, when used with respect to a
specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified; provided, however, that, for purposes of the definition of
“Eligible Assignee” and Section 6.08 the term “Affiliate” shall also include any Person that directly or indirectly owns 5% or more of any class of Equity Interests of the Person specified or that is an officer or director
of the Person specified. 
 “Affiliate Subordination Agreement” shall mean an Affiliate Subordination Agreement in the form
of Exhibit B pursuant to which intercompany obligations and advances owed by any Loan Party are subordinated to the Obligations. 

“Agents” shall have the meaning assigned to such term in Article 8. 

“Aggregate Exposure” shall mean the aggregate amount of the Lenders’ Exposures. 

“Aggregate Incremental Amount” shall mean, at any time, the aggregate principal amount of Incremental Loans incurred at or
prior to such time (assuming all Incremental Commitments established at or prior to such time are fully drawn). 

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

  
 -2- 

 “Agreement Value” shall mean, for each Hedging Agreement, on any date of
determination, the maximum aggregate amount (giving effect to any netting agreements) that the Borrower or the applicable Subsidiary would be required to pay if such Hedging Agreement was terminated on such date. 

“Alternate Base Rate” shall mean, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on
such day, (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1.00% and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business
Day) plus 1.00%; provided that, for the purpose of clause (c), the Adjusted LIBO Rate for any day shall be based on the rate determined on such day at approximately 11 a.m. (London time) by reference to the interest settlement rates set forth
by the Intercontinental Exchange Benchmark Administration Ltd. (or such other Person that takes over administration of such rate) for deposits in Dollars. If the Administrative Agent shall have determined (which determination shall be conclusive
absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition
thereof, the Alternate Base Rate shall be determined without regard to clause (b) of the preceding sentence until the circumstances giving rise to such inability no longer exist. Any change in the Alternate Base Rate due to a change in the
Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective on the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, as the case may be. 

“Anti-Terrorism Laws” shall have the meaning assigned to such term in Section 3.26. 

“Applicable Margin” shall mean, for any day (a) with respect to any Eurodollar Loan, 3.00% per annum and
(b) with respect to any ABR Loan, 2.00% per annum. 
 “Approved Fund” shall mean, with respect to any Lender that
is a fund or commingled investment vehicle that invests in bank loans, any other fund that invests in bank loans and is managed or advised by the same investment advisor as such Lender or by an Affiliate of such investment advisor. 

“Arranger” shall mean Credit Suisse Securities (USA) LLC. 

“Assignment and Acceptance” shall mean an assignment and acceptance entered into by a Lender and an Eligible Assignee, and
accepted by the Administrative Agent, in the form of Exhibit C or such other form (including electronic documentation generated by MarkitClear or other electronic platform) as shall be approved by the Administrative Agent. 

“Availability” shall mean, as of any time of determination, an amount equal to (a) the aggregate amount of Commitments
in effect at such time minus (b) the Aggregate Exposure at such time. 

  
 -3- 

 “Bankruptcy Code” shall mean Title 11 of the United States Code entitled
“Bankruptcy”, as now and hereafter in effect, or any successor statute. 
 “Board” shall mean the Board of
Governors of the Federal Reserve System of the United States of America. 
 “Borrower” shall have the meaning assigned to
such term in the introductory statement to this Agreement. 
 “Borrower Materials” shall have the meaning assigned to such
term in Section 9.01. 
 “Borrower Notice” shall have the meaning assigned to such term in the definition of Real
Estate Collateral Requirements. 
 “Borrowing” shall mean Loans of the same Type made, converted or continued on the same
date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect. 
 “Borrowing Request” shall
mean a request by the Borrower in accordance with the terms of Section 2.03 and substantially in the form of Exhibit D, or such other form as shall be approved by the Administrative Agent. 

“Breakage Event” shall have the meaning assigned to such term in Section 2.15. 

“Business Day” shall mean any day other than a Saturday, Sunday or day on which banks in New York City are authorized or
required by law to close; provided that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in Dollar deposits in the London interbank
market. 
 “Capital Lease Obligations” of any Person shall mean the obligations of such Person to pay rent or other amounts
under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under
GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
 “Cash
Collateralize” shall mean to pledge and deposit with or deliver to the Collateral Agent, for the benefit of the Issuing Bank and Lenders, as collateral for L/C Exposure and the obligation of the Lenders to fund participations in respect of
L/C Exposure, cash or, if the Collateral Agent and the Issuing Bank shall agree in their sole discretion, other credit support, in each case in an amount not less than the Minimum Collateral Amount and pursuant to documentation in form and substance
satisfactory to the Collateral Agent and the Issuing Bank. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 

  
 -4- 

 A “Change in Control” shall be deemed to have occurred if (a) prior to a
Qualified Public Offering (x) the Permitted Investors shall fail to own and control, directly or indirectly, beneficially and of record, shares representing at least 51% of the aggregate ordinary voting power represented by the issued and
outstanding Equity Interests of the Borrower or (y) Aaron Levie and Dylan Smith shall together fail to own and control, directly or indirectly, beneficially and of record, shares representing at least 80% of the Equity Interests of the Borrower
owned by them as of the Closing Date, (b) after a Qualified Public Offering, any “person” or “group” (within the meaning of Rule 13d-5 of the Exchange Act as in effect on the date hereof), other than the
Permitted Investors, shall own, directly or indirectly, beneficially or of record, shares representing more than 35% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Borrower, (c) a
majority of the seats (other than vacant seats) on the board of directors of the Borrower shall at any time be occupied by persons who were neither (i) nominated by the board of directors of the Borrower nor (ii) appointed by directors so
nominated or (d) any change in control (or similar event, however denominated) with respect to the Borrower or any Subsidiary shall occur under and as defined in any indenture or agreement in respect of Material Indebtedness to which the
Borrower or any Subsidiary is a party. 
 “Change in Law” shall mean the occurrence, after the date of this Agreement, of
any of the following: (a) the adoption or taking effect of any law, rule or regulation, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or
(c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) of any Governmental Authority; provided that, notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall
Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith by any Governmental Authority and (ii) all requests, rules, guidelines or directives promulgated by the
Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a
“Change in Law,” regardless of the date enacted, adopted or issued. 
 “Charges” shall have the meaning
assigned to such term in Section 9.08. 
 “Class” when used in reference to any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, is or is not an Extended Loan and, when used in reference to any Commitment, refers to whether such Commitment is or is not an Extended Commitment. 

“Closing Date” shall mean August 27, 2013. 

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

“Collateral” shall mean the “Collateral” as defined in any Security Agreement and the “Mortgaged
Property” as defined in any Mortgage. 

  
 -5- 

 “Collateral Agent” shall have the meaning assigned to such term in the
introductory statements to this Agreement. 
 “Commitment” shall mean, with respect to each Lender, the commitment of such
Lender to make Loans hereunder (and to acquire participations in Letters of Credit as provided for herein) as is set forth on Schedule 2.01(a), or in the Assignment and Acceptance pursuant to which such Lender assumed its Commitment, as
applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. 

“Commitment Period” shall mean the period from the Closing Date to but excluding the Termination Date. 

“Commitment Fee” shall have the meaning assigned to such term in Section 2.05(a). 

“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. 
 “Communications” shall have the meaning assigned to such term in Section 9.01.

 “Competitor” of the Borrower shall mean any entity or person in the business of content collaboration and/or Enterprise
Content Management (ECM) that is deployed on premise, hybrid, or via a software as a service delivery model and shall specifically include, without limitation, DropBox, Inc., Citrix Systems, Inc., Microsoft Corporation, Google Inc., Accellion Inc.,
Egnyte, Inc., EMC Corporation, Alfresco Software, Inc., OpenText Corporation, International Business Machines Corporation, Oracle Corporation, Salesforce.com Inc., AirWatch, LLC, BigTinCan (BTC Dashboard), Soonr, Inc., Watchdox, Inc. and Apple Inc.

 “Compliance Certificate” shall mean a compliance certificate in the form of Exhibit E. 

“Control” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of voting securities, by contract or otherwise, and the terms “Controlling” and “Controlled” shall have meanings correlative thereto. 

“Cost Sharing Agreement” shall mean that Cost Sharing Agreement, dated as of June 25, 2013, between the Borrower and Box
Intl Technology Ltd. 
 “Credit Event” shall have the meaning assigned to such term in Section 4.01. 

“Credit Facilities” shall mean the revolving credit, letter of credit and incremental facilities provided for by this
Agreement. 

  
 -6- 

 “Credit Percentage” of any Lender at any time shall mean the percentage of the
Total Commitment represented by such Lender’s Commitment. In the event the Commitments shall have expired or been terminated, the Credit Percentages shall be determined on the basis of the Commitments most recently in effect, giving effect to
any subsequent assignments. 
 “Debtor Relief Laws” shall mean the Bankruptcy Code and all other liquidation,
conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in
effect. 
 “Default” shall mean any event or condition which upon notice, lapse of time or both would constitute an Event
of Default. 
 “Defaulting Lender” shall mean, subject to Section 2.23(b), any Lender that (a) has failed to
(i) fund all or any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the
result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable Default, shall be specifically identified in such writing) has not been satisfied or
(ii) pay to the Administrative Agent, the Issuing Bank or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within two (2) Business Days of the date when
due, (b) has notified the Borrower, the Administrative Agent or the Issuing Bank in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public
statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable
Default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three (3) Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to
the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written
confirmation by the Administrative Agent and the Borrower) or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law or (ii) had appointed for it a receiver,
custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or
federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company
thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on
its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the 

  
 -7- 

 
Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender
shall be deemed to be a Defaulting Lender (subject to Section 2.23(b)) upon delivery of written notice of such determination to the Borrower, the Issuing Bank and each Lender. 

“Disposition” shall mean, with respect to any Person, (a) the sale, transfer, license, lease or other disposition (by
way of merger, casualty, condemnation or otherwise) of any property or asset of such Person (including, without limitation, any sale and leaseback transaction and the sale of any Equity Interest owned by such Person) to any other Person and
(b) the issuance of Equity Interests by a subsidiary of such Person to any other Person. 
 “Disqualified Lender”
shall have the meaning set forth on Schedule 1.01(a). 
 “Disqualified Stock” shall mean any Equity Interest that, by
its terms (or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or
is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof, in whole or in part, or requires the payment of any cash dividend or any other scheduled payment constituting a
return of capital, in each case at any time on or prior to the first anniversary of the Maturity Date or (b) is convertible into or exchangeable (unless at the sole option of the issuer thereof) for (i) debt securities or (ii) any
Equity Interest referred to in clause (a) above, in each case at any time prior to the first anniversary of the Maturity Date. 

“Dollars” or “$” shall mean lawful money of the United States of America. 

“Domestic Subsidiaries” shall mean all Subsidiaries other than Foreign Subsidiaries. 

“Eligible Assignee” shall mean (i) a Lender, (ii) an Affiliate of a Lender, (iii) an Approved Fund of a Lender
and (iv) any other Person (other than a natural person) with respect to whom all consents to assignment required hereunder (including under Section 9.04(b)(iii)) have been obtained; provided that notwithstanding the foregoing,
“Eligible Assignee” shall not include the Borrower or any of the Borrower’s Affiliates. 
 “Engagement
Letter” shall mean the Engagement Letter dated July 2, 2013, between the Borrower and Credit Suisse Securities (USA) LLC. 

“Environmental Laws” shall mean all former, current and future federal, state, local, supranational, and foreign laws
(including statutory and common law), treaties, regulations, rules, ordinances, codes, decrees, injunctions, judgments, governmental restrictions or requirements, directives, orders (including consent orders), permits, and agreements in each case,
relating to the indoor or outdoor environment, natural resources, human health and safety or the presence, Release of or exposure to pollutants, contaminants, wastes, chemicals or otherwise hazardous materials, or the generation,

  
 -8- 

 
manufacture, processing, distribution, use, treatment, storage, transport, recycling, disposal or handling of, or the arrangement for such activities, with respect to any pollutants,
contaminants, wastes, chemicals or otherwise hazardous materials. 
 “Environmental Liability” shall mean all liabilities,
obligations, damages, losses, claims, actions, suits, judgments, orders, fines, penalties, fees, indemnities, expenses and costs (including administrative oversight costs, natural resource damages and remediation costs), whether known or unknown,
actual or potential, vested or unvested, or contingent or otherwise, arising out of or relating to (a) any Environmental Law, (b) the generation, manufacture, processing, distribution, use, treatment, storage, transport, recycling,
disposal or handling of, or the arrangement for such activities, with respect to any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the presence or 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. 
 “Equity
Interests” shall mean shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity interests in any Person and any option, warrant or other right
entitling the holder thereof to purchase or otherwise acquire any such equity interest. 
 “ERISA” shall mean the Employee
Retirement Income Security Act of 1974, as the same may be amended from time to time. 
 “ERISA Affiliate” shall mean any
trade or business (whether or not incorporated) that, together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code, or solely for purposes of Section 302 of ERISA and Section 412 of the
Code, is treated as a single employer under Section 414 of the Code. For the avoidance of doubt, when any provision of this Agreement relates to a past event or period of time, the term “ERISA Affiliate” includes any person who
was, as to the time of such past event or period of time, an “ERISA Affiliate” within the meaning of the preceding sentence. 

“ERISA Event” shall mean (a) any “reportable event,” as defined in Section 4043 of ERISA or the
regulations issued thereunder, with respect to a Plan (other than an event for which the 30-day notice period is waived), (b) the requirements of Section 4043(b) of ERISA apply with respect to a contributing sponsor, as defined in
Section 4001(a)(13) of ERISA, of a Plan, and an event described in paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably expected to occur with respect to such Plan, (c) a determination that any
Plan is or is reasonably expected to be in “at risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA), (d) the filing pursuant to Section 412(c) of the Code or Section 302(c) of
ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, (e) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA (other than non-delinquent premiums
payable to the PBGC under Sections 4006 and 4007 of ERISA), (f) the termination, or the filing of a notice of intent to terminate, any Plan pursuant to Section 4041(c) of ERISA, (g) the receipt by the

  
 -9- 

 
Borrower or any of its ERISA Affiliates from the PBGC or a plan administrator of any notice relating to the intention to terminate any Plan or Plans or to appoint a trustee to administer any
Plan, (h) the cessation of operations at a facility of the Borrower or any ERISA Affiliate in the circumstances described in Section 4062(e) of ERISA, (i) conditions contained in Section 303(k)(1)(A) of ERISA for imposition of a
lien shall have been met with respect to any Plan, (j) the receipt by the Borrower or any of its ERISA Affiliates of any notice, or the receipt by any Multiemployer Plan from the Borrower or any of its ERISA Affiliates of any notice, concerning
the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, “insolvent” (within the meaning of Section 4245 of ERISA), in “reorganization” (within the meaning
of Section 4241 of ERISA), or in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 304 of ERISA), (k) the occurrence of a non-exempt “prohibited
transaction” with respect to which the Borrower or any of the Subsidiaries is a “disqualified person” (within the meaning of Section 4975 of the Code) or a “party in interest” (within the meaning of
Section 406 of ERISA) or with respect to which the Borrower, any such Subsidiary or their respective ERISA Affiliates could otherwise be liable, (l) any Foreign Benefit Event or (m) any other event or condition with respect to a Plan
or Multiemployer Plan that could result in liability of the Borrower or any Subsidiary. 
 “Eurodollar Loan” or
“Eurodollar Borrowing” shall mean a Loan or a Borrowing consisting of Loans bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 

“Events of Default” shall have the meaning assigned to such term in Section 7.01. 

“Evidence of Flood Insurance” shall have the meaning assigned to such term in the definition of Real Estate Collateral
Requirements. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

“Excluded Swap Obligations” shall mean, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or
a portion of the Guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof) (after giving effect to any keepwell guarantee or other support agreement) 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 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 Guarantee of such Guarantor or the grant of such security interest becomes effective with respect to such
Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee or security interest is
or becomes illegal. 

  
 -10- 

 “Excluded Taxes” shall mean, any of the following Taxes imposed on or with
respect to a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a
result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or
(ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a
law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 2.20(a)) or (ii) such Lender changes its lending office,
except in each case to the extent that, pursuant to Section 2.19, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it
changed its lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 2.19(g) and (d) any U.S. federal withholding Taxes imposed under FATCA. 

“Executive Order” shall have the meaning assigned to such term in Section 3.26. 

“Existing Debt” shall mean any and all outstanding principal, accrued interest and fees under (i) that certain Loan and
Security Agreement by and between the Borrower and Hercules Technology Growth Capital, Inc., dated as of August 23, 2011, as amended on March 28, 2012 and (ii) that certain Loan and Security Agreement by and between the Borrower and
Hercules Technology Growth Capital, Inc., dated as of March 28, 2012, as amended on June 13, 2012. 
 “Exposure”
shall mean, with respect to any Lender at any time, the aggregate principal amount at such time of all outstanding Loans of such Lender, plus the aggregate amount at such time of such Lender’s L/C Exposure. 

“Extended Commitment” shall mean any Class of Commitments the maturity of which shall have been extended pursuant to
Section 2.25. 
 “Extended Loans” shall mean any Loans made pursuant to the Extended Commitments. 

“Extension” shall have the meaning assigned to such term in Section 2.25(a). 

“Extension Offer” shall have the meaning assigned to such term in Section 2.25(a). 

“FATCA” shall mean Sections 1471 through 1474 of the Code as of the date of this Agreement (or any amended or successor
version that is substantively comparable) and any current or future regulations or official interpretations thereof. 
 “Federal
Funds Effective Rate” shall mean, for any day, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve 

  
 -11- 

 
System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a
Business Day, the average of the quotations for the day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 

“Fees” shall mean the Commitment Fees, the Administrative Agent Fees, the L/C Participation Fees and the Issuing Bank Fees.

 “Financial Officer” of any Person shall mean the chief financial officer, principal accounting officer, treasurer or
controller of such Person. 
 “Flood Laws” shall have the meaning assigned to such term in the definition of Real Estate
Collateral Requirements. 
 “Foreign Benefit Event” shall mean, with respect to any Foreign Pension Plan, (a) the
existence of unfunded liabilities in excess of the amount permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority, (b) the failure to make the required contributions
or payments, under any applicable law, on or before the due date for such contributions or payments, (c) the receipt of a notice by a Governmental Authority relating to the intention to terminate any such Foreign Pension Plan or to appoint a
trustee or similar official to administer any such Foreign Pension Plan, or alleging the insolvency of any such Foreign Pension Plan, (d) the incurrence of any liability in excess of $5,000,000 by the Borrower or any Subsidiary under applicable
law on account of the complete or partial termination of such Foreign Pension Plan or the complete or partial withdrawal of any participating employer therein, or (e) the occurrence of any transaction that is prohibited under any applicable law
and that has resulted or could reasonably be expected to result in the incurrence of any liability by the Borrower or any of the Subsidiaries, or the imposition on the Borrower or any of the Subsidiaries of any fine, excise tax or penalty resulting
from any noncompliance with any applicable law, in each case in excess of $5,000,000. 
 “Foreign Lender” shall mean
(a) with respect to a Borrower that is a U.S. Person, a Lender that is not a U.S. Person and (b) with respect to a Borrower that is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that
in which the Borrower is resident for tax purposes. 
 “Foreign Pension Plan” shall mean any benefit plan that under
applicable law other than the laws of the United States or any political subdivision thereof, is required to be funded through a trust or other funding vehicle other than a trust or funding vehicle maintained exclusively by a Governmental Authority.

 “Foreign Subsidiary” shall mean any Subsidiary that is a “controlled foreign corporation” within the meaning
of Section 957 of the Code (and any subsidiary of such person). 
 “Fronting Exposure” shall mean, at any time there
is a Defaulting Lender, such Defaulting Lender’s Credit Percentage of the outstanding L/C Exposure with respect to 

  
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Letters of Credit other than L/C Exposure as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders in accordance with Section 2.23(a)(iv) or
Cash Collateralized in accordance with Section 2.23(a)(v). 
 “GAAP” shall mean United States generally accepted
accounting principles applied on a basis consistent with the financial statements referenced in Section 4.02(j). 

“Governmental Authority” shall mean any federal, state, local, supranational or foreign court or governmental agency,
registry, authority, instrumentality or regulatory body. 
 “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 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 that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. 

“Guarantee and Collateral Agreement” shall mean the Guarantee and Collateral Agreement, in the form of Exhibit F, among
the Borrower, the Subsidiaries party thereto and the Collateral Agent for the benefit of the Secured Parties. 

“Guarantor” shall mean each wholly-owned Domestic Subsidiary listed on Schedule 1.01(b), and each other wholly-owned
Domestic Subsidiary that is or becomes a party to the Guarantee and Collateral Agreement. 
 “Hazardous Materials” shall
mean (a) any petroleum products, derivatives or byproducts and all other hydrocarbons, coal ash, radon gas, lead, asbestos and asbestos-containing materials, toxic mold, urea formaldehyde foam insulation, polychlorinated biphenyls, infectious
or medical wastes and chlorofluorocarbons and all other ozone-depleting substances, (b) any pollutant, contaminant, waste or chemical or any toxic, radioactive, ignitable, corrosive, reactive or otherwise hazardous substance, waste or material,
or any substance, waste or material having any constituent elements displaying any of the foregoing characteristics or (c) any substance, waste or material that is prohibited, limited or regulated by or pursuant to or which can form the basis
for liability under any Environmental Law. 

  
 -13- 

 “Hedging Agreement” shall mean any interest rate protection agreement, foreign
currency exchange agreement, commodity price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement. 

“Immaterial Subsidiaries” shall mean one or more Subsidiaries for which, (a) the assets of all such designated
Subsidiaries constitute, in the aggregate, no more than 5% of the total assets of the Borrower and its Subsidiaries on a consolidated basis (determined as of the last day of the most recent fiscal quarter of the Borrower for which financial
statements have been delivered pursuant to Section 5.04(a) or 5.04(b)), and (b) the revenues of such Subsidiaries, in the aggregate, account for no more than 5% of the total revenues of the Borrower and its Subsidiaries on a consolidated
basis for the twelve-month period ending on the last day of the most recent fiscal quarter of the Borrower for which financial statements have been delivered pursuant to Section 5.04(a) or 5.04(b). The Borrower shall notify the Administrative
Agent quarterly as to all Immaterial Subsidiaries as provided in Section 5.04(c). The Borrower may designate and re-designate a Subsidiary as an Immaterial Subsidiary at any time, subject to the terms set forth in this definition. As of the
Closing Date, the Immaterial Subsidiaries are set forth on Schedule 1.01(c). 
 “Incremental Cap” shall mean
$50,000,000. 
 “Incremental Commitment” shall mean the commitment of any Lender, established pursuant to
Section 2.24, to make an Incremental Loan to the Borrower. 
 “Incremental Lender” shall mean a Lender with an
Incremental Commitment or an outstanding Incremental Loan. 
 “Incremental Loans” shall mean Loans made by one or more
Incremental Lenders to the Borrower pursuant to their Incremental Commitments. Incremental Loans may only be made in the form of additional Loans. 

“Indebtedness” of any Person shall mean, without duplication, (a) all obligations of such Person for borrowed money,
(b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional
sale or other title retention agreements relating to property or assets purchased by such Person, (e) all obligations of such Person for the deferred purchase price of property or services (excluding trade accounts payable and accrued
obligations incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or
acquired by such Person, whether or not the obligations secured thereby have been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) net obligations of such
Person under any Hedging Agreements, valued at the Agreement Value thereof, (j) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity Interests of such Person or any other
Person or any warrants, rights or options to acquire such equity interests, valued, in 

  
 -14- 

 
the case of redeemable preferred interests, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends, (k) all obligations of such Person as an
account party in respect of letters of credit and (l) all obligations of such Person in respect of bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness of any partnership in which such Person is a general
partner. 
 “Indemnified Taxes” shall mean (a) Taxes, other than Excluded Taxes, imposed on or with respect to any
payment made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 

“Indemnitee” shall have the meaning assigned to such term in Section 9.05(b). 

“Information” shall have the meaning assigned to such term in Section 9.17. 

“Intellectual Property” shall have the meaning assigned to such term in the Guarantee and Collateral Agreement. 

“Interest Election Request” shall mean a request by the Borrower in accordance with the terms of Section 2.10 and
substantially in the form of Exhibit G or such other form as shall be approved by the Administrative Agent. 
 “Interest
Payment Date” shall mean (a) with respect to any ABR Loan, the last Business Day of each March, June, September and December and (b) with respect to any Eurodollar Borrowing, the last day of the Interest Period
applicable to such Borrowing and, in the case of a Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day that would have been an Interest Payment Date had successive Interest Periods of three months’
duration been applicable to such Borrowing. 
 “Interest Period” shall mean, with respect to any Eurodollar Borrowing, the
period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one (1), two (2), three (3) or six (6) months thereafter, as the Borrower may elect; provided that (a) if
any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest
Period shall end on the next preceding Business Day, (b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such
Interest Period) shall, subject to clause (c), end on the last Business Day of the calendar month at the end of such Interest Period and (c) no Interest Period for any Borrowing shall extend beyond the applicable Maturity Date. Interest shall
accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the
effective date of the most recent conversion or continuation of such Borrowing. 

  
 -15- 

 “Investment” shall mean, as to any Person, any direct or indirect acquisition or
investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests or Indebtedness or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of
Indebtedness of, or purchase or other acquisition of any other Indebtedness or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person or (c) the purchase or other
acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of another Person or assets constituting a business unit, line of business or division of such Person. For purposes of
compliance with Section 6.04, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment but (x) giving effect to any returns or
distributions of capital or repayment of principal actually received in cash by such Person with respect thereto, whether by disposition, return on capital, dividend or otherwise or (y) in the case of any Investment by a Loan Party in any
Foreign Subsidiary, as reduced by any cash payments received by such Loan Party from any Foreign Subsidiary pursuant to the Management and Services Agreement or the Cost Sharing Agreement. 

“Investment Company Act” shall mean the Investment Company Act of 1940, as amended from time to time. 

“IRS” shall mean the United States Internal Revenue Service. 

“Issuing Bank” shall mean, as the context may require, (a) (i) each of Credit Suisse AG, JPMorgan Chase Bank, N.A.,
Morgan Stanley Senior Funding, Inc. and BMO Harris Financing, Inc., in each case acting through any of its Affiliates or branches, with respect to Letters of Credit issued by it and its L/C Commitment hereunder and (ii) any other Lender that
may become an Issuing Bank pursuant to Section 2.21(i) or Section 2.21(j), with respect to Letters of Credit issued by such Lender and such Lender’s L/C Commitment or (b) all such Persons collectively in such capacity. The
Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates or branches of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate or branch with respect to
Letters of Credit issued by such Affiliate or branch. 
 “Issuing Bank Fees” shall have the meaning assigned to such term
in Section 2.05(c). 
 “L/C Commitment” shall mean the commitment of the Issuing Bank to issue Letters of Credit
pursuant to Section 2.21, as set forth on Schedule 2.01(b) as the same may be modified from time to time in accordance with this Agreement. 

“L/C Disbursement” shall mean a payment or disbursement made by the Issuing Bank pursuant to a Letter of Credit. 

“L/C Exposure” shall mean at any time the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit
at such time and (b) the aggregate amount of 

  
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all L/C Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The L/C Exposure of any Lender at any time shall equal its Credit Percentage of the aggregate
L/C Exposure at such time. 
 “L/C Participation Fee” shall have the meaning assigned to such term in Section 2.05(c).

 “L/C Sublimit” shall mean $25,000,000. 

“Latest Maturity Date” shall mean, at any time, the latest maturity or expiration date applicable to any Loan or Commitment
(or, if so specified, applicable to the specified Loans or Commitments of the Class thereof) hereunder at such time. 

“Lenders” shall mean (a) the Persons listed on Schedule 2.01(a) and (b) any Person that has become a party
hereto as a Lender pursuant to an Assignment and Acceptance, Additional Credit Extension Amendment or otherwise in accordance with this Agreement, in each case other than any such Person that has ceased to be a party hereto pursuant to an Assignment
and Acceptance. 
 “Letter of Credit” shall mean any standby letter of credit issued pursuant to Section 2.21. 

“LIBO Rate” shall mean, with respect to any Eurodollar Borrowing for any Interest Period, the rate per annum determined by
the Administrative Agent at approximately 11:00 a.m. (London time) on the date that is two Business Days prior to the commencement of such Interest Period by reference to the interest settlement rates for deposits in Dollars (as set forth by the
Intercontinental Exchange Benchmark Administration Ltd. (or such other Person that takes over administration of such rate) for a period equal to such Interest Period; provided that, to the extent that an interest rate is not ascertainable pursuant
to the foregoing provisions of this definition, the “LIBO Rate” shall be the interest rate per annum determined by the Administrative Agent (including by reference to any applicable published market data) to be the average of the rates per
annum at which deposits in Dollars are offered for such relevant Interest Period to major banks in the London interbank market in London, England by the Administrative Agent at approximately 11:00 a.m. (London time) on the date that is two Business
Days prior to the beginning of such Interest Period. 
 “Lien” shall mean (a) with respect to any asset, (i) any
mortgage, deed of trust, lien (statutory or other), pledge, hypothecation, assignment, deposit arrangement, encumbrance, charge, preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever in or on
such asset and (ii) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same effect as any of the foregoing) relating to such
asset and (b) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Liquidity” shall mean, at any time of determination, the sum of (a) Availability at such time and (b) the amount
of Unrestricted Cash at such time. 

  
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 “Loans” shall mean the revolving loans made by the Lenders to the Borrower
pursuant to Section 2.01. 
 “Loan Documents” shall mean this Agreement, the Letters of Credit, the Security
Documents, the Notes and any other document executed in connection with the foregoing. 
 “Loan Parties” shall mean the
Borrower and the Guarantors. 
 “Management and Services Agreement” shall mean a Management and Services Agreement between
the Borrower and Box.com (UK) Ltd substantially in the form delivered to the Administrative Agent prior to the Closing Date. 

“Margin Stock” shall have the meaning assigned to such term in Regulation U. 

“Material Adverse Effect” shall mean a material adverse effect on (a) the business, operations, property or condition,
financial or otherwise, of the Borrower and the Subsidiaries, taken as a whole, (b) the ability of the Borrower and the Guarantors, taken as a whole, to perform their payment obligations under the Loan Documents or (c) the rights and
remedies of or benefits available to the Lenders under the Loan Documents. 
 “Material Indebtedness” shall mean
Indebtedness (other than the Loans and Letters of Credit) of any one or more of the Borrower or any Subsidiary in an aggregate principal amount exceeding $5,000,000. For purposes of determining Material Indebtedness, the “principal
amount” of the obligations of the Borrower or any Subsidiary in respect of any Hedging Agreement at any time shall be the Agreement Value of such Hedging Agreement at such time. 

“Maturity Date” shall mean August 27, 2016 (or, if such day is not a Business Day, the next preceding Business Day).

 “Maximum Rate” shall have the meaning assigned to such term in Section 9.08. 

“Minimum Collateral Amount” shall mean, at any time, (a) with respect to Cash Collateral consisting of cash, an amount
equal to 103% of the Fronting Exposure of the Issuing Bank with respect to Letters of Credit issued and outstanding at such time and (b) otherwise, an amount determined by the Administrative Agent and the Issuing Bank in their sole discretion,
but not to exceed an aggregate amount equal to 103% of the aggregate L/C Exposure. 
 “Moody’s” shall mean
Moody’s Investors Service, Inc., or any successor thereto. 
 “Mortgaged Properties” shall mean, each parcel of real
property and improvements thereto with respect to which a Mortgage is granted pursuant to Section 5.12. 

  
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 “Mortgages” shall mean the mortgages, deeds of trust, deeds to secure debt and
other similar security documents delivered pursuant to Section 5.12, each in form and substance reasonably satisfactory to the Collateral Agent and the Borrower. 

“Multiemployer Plan” shall mean a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Net Cash Proceeds” shall mean (a) with respect to any Disposition, the cash proceeds (including cash proceeds
subsequently received (as and when received) in respect of noncash consideration initially received), net of (i) selling expenses (including broker’s fees or commissions, investment banking fees, legal fees, accountants’ fees,
transfer and similar taxes and the Borrower’s good faith estimate of income taxes paid or payable in connection with such sale), (ii) amounts provided as a reserve, in accordance with GAAP, against any retained liabilities or liabilities
under any indemnification obligations or purchase price adjustment associated with such Disposition (provided that, to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Cash
Proceeds) and (iii) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness which is secured by the asset sold in such Disposition and which is required to be repaid with such proceeds (other than
(x) Indebtedness hereunder and (y) any such Indebtedness assumed by the purchaser of such asset) and (b) with respect to any issuance of Equity Interests, the cash proceeds thereof, net of all taxes and customary fees, commissions,
costs and other expenses incurred in connection therewith. 
 “NFIP” shall have the meaning assigned to such term in the
definition of Real Estate Collateral Requirements. 
 “Non-Defaulting Lender” shall mean, at any time, each Lender that is
not a Defaulting Lender at such time. 
 “Notes” shall mean any promissory notes evidencing the Loans, executed and
delivered pursuant to Section 2.04(e) and in the form of Exhibit H. 
 “Obligations” shall mean (i) all
principal of all Loans and Reimbursement Obligations in respect of L/C Disbursements, all interest (including Post-Petition Interest) on such Loans and Reimbursement Obligations and all other amounts now or hereafter payable by the Borrower pursuant
to the Loan Documents and (ii) all obligations of a Loan Party to any Qualified Counterparty under any Secured Hedging Agreements, excluding in the case of this clause (ii), the Excluded Swap Obligations. 

“OFAC” shall have the meaning assigned to such term in Section 3.24. 

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

  
 -19- 

 “Other Taxes” shall mean all present or future stamp, court or documentary,
intangible, property, excise, mortgage, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, recording, performance, enforcement or registration of, from the receipt or perfection of a security
interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.20(a)). 

“Participant” shall have the meaning assigned to such term in Section 9.04(d). 

“Participant Register” shall have the meaning assigned to such term in Section 9.04(d). 

“PBGC” shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA. 

“Perfection Certificate” shall mean the Perfection Certificate substantially in the form of Exhibit E to the Guarantee
and Collateral Agreement. 
 “Permitted Acquisition” shall have the meaning assigned to such term in Section 6.04(g).

 “Permitted Investments” shall mean: 

(a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of
America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of issuance thereof; 

(b) investments in commercial paper maturing within 270 days from the date of issuance thereof and having, at such date of acquisition, a
rating of at least “Prime 1” (or the then equivalent grade) by Moody’s or “A-1” (or the then equivalent grade) by S&P; 

(c) investments in certificates of deposit, banker’s acceptances and time deposits maturing within one year from the date of acquisition
thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, the Administrative Agent or any domestic office of any commercial bank organized under the laws of the United States of America or any State
thereof that has a combined capital and surplus and undivided profits of not less than $500,000,000 and that issues (or the parent of which issues) commercial paper rated at least “Prime 1” (or the then equivalent grade) by
Moody’s or “A-1” (or the then equivalent grade) by S&P; 
 (d) fully collateralized repurchase agreements with a
term of not more than 30 days for securities described in clause (a) above and entered into with a financial institution satisfying the criteria of clause (c) above; 

  
 -20- 

 (e) investments in “money market funds” within the meaning of
Rule 2a-7 of the Investment Company Act of 1940, as amended, substantially all of whose assets are invested in investments of the type described in clauses (a) through (d) above; and 

(f) other short-term investments utilized by Foreign Subsidiaries in accordance with normal investment practices for cash management in
investments of a type analogous to the foregoing. 
 “Permitted Investors” shall mean (a) Aaron Levie, (b) Dylan
Smith, (c) Dan Levin, (d) Andreessen Horowitz, (e) Bessemer Venture Partners, (f) Coatue Management, (g) Draper Fisher Jurvetson, (h) Emergence Capital Partners, (i) General Atlantic Partners, (j) Hercules
Technology Growth Capital, (k) Intel Capital, (l) Meritech Capital, (m) New Enterprise Associates, (n) SAP Ventures, (o) Scale Venture Partners, (p) The Social+Capital Partnership, (q) U.S. Venture Partners,
(r) any other Person that is reasonably acceptable to the Administrative Agent and that becomes a holder of voting common or preferred Equity Interests of the Borrower on or prior to the date that is 90 days after the Closing Date, (s) TPG
Growth and (t) any Affiliate of any of the foregoing (other than any portfolio company thereof). 
 “Permitted
Refinancing” shall mean, with respect to any Person, any refinancing, refunding, renewal or extension or similar modification of any Indebtedness of such Person (the “Refinanced Indebtedness”); provided that (a) the
principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Refinanced Indebtedness except by an amount equal to any interest capitalized with, any premium or other
reasonable amount paid, and fees and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal or extension, (b) such modification, refinancing, refunding, renewal or extension has a final maturity date
equal to or later than the final maturity date of, and has a weighted average life to maturity equal to or longer than the weighted average life to maturity of, the Refinanced Indebtedness, (c) if the Refinanced Indebtedness is subordinated in
right of payment to the Obligations, such modification, refinancing, refunding, renewal or extension is subordinated in right of payment to the Obligations on terms at least as favorable, taken as a whole, to the Lenders as those contained in the
documentation governing the Refinanced Indebtedness, (d) at the time thereof, no Default or Event of Default shall have occurred and be continuing, (e) if the Refinanced Indebtedness is secured, the terms and conditions relating to
collateral of any such modified, refinanced, refunded, renewed or extended Indebtedness, taken as a whole, are not materially less favorable to the Loan Parties than the terms and conditions with respect to the Collateral of the Refinanced
Indebtedness, taken as a whole (and the Liens on any Collateral securing any such modified, refinanced, refunded, renewed or extended Indebtedness shall have the same (or lesser) priority as the Refinanced Indebtedness relative to the Liens on the
Collateral securing the Obligations), (f) the terms and conditions (excluding any subordination, pricing, fees, rate floors, discounts, premiums and optional prepayment or redemption terms) of such modified, refinanced, refunded, renewed or
extended Indebtedness, taken as a whole, shall not be materially less favorable to the Loan Parties than the Refinanced Indebtedness, except for covenants or other provisions applicable only to periods after the Latest Maturity Date and
(g) such modification, refinancing, refunding, renewal or extension is incurred by the Person who is the obligor on the Refinanced Indebtedness. 

  
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 “Person” shall mean any natural person, corporation, business trust, joint
venture, association, company, limited liability company, partnership, Governmental Authority or other entity. 
 “Plan”
shall mean any employee pension benefit plan (other than a Multiemployer Plan) that is covered by Section 4021 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is or, if such plan were terminated under Section 4069 of
ERISA, would be, deemed to be an “employer” as defined in Section 3(5) of ERISA. 
 “Platform” shall
have the meaning assigned to such term in Section 9.01. 
 “Post-Petition Interest” shall mean any interest that
accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency or reorganization of any one or more of the Loan Parties (or would accrue but for the operation of applicable Debtor Relief Laws), whether
or not such interest is allowed or allowable as a claim in any such proceeding. 
 “Prime Rate” shall mean the rate of
interest per annum determined from time to time by Credit Suisse AG as its prime rate in effect at its principal office in New York City and notified to the Borrower. The prime rate is a rate set by Credit Suisse AG based upon various factors
including Credit Suisse AG’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such rate. 

“Public Lender” shall have the meaning assigned to such term in Section 9.01. 

“Qualified Capital Stock” of any Person shall mean any Equity Interest of such Person that is not Disqualified Stock. 

“Qualified Counterparty” shall mean, with respect to any Hedging Agreement, any counterparty thereto that, at the time such
Hedging Agreement was entered into, was a Lender, the Administrative Agent, the Arranger or any of their respective Affiliates. 

“Qualified Public Offering” shall mean the initial underwritten public offering of common Equity Interests of the Borrower
pursuant to an effective registration statement filed with the Securities and Exchange Commission in accordance with the Securities Act that results in at least $125,000,000 of Net Cash Proceeds to the Borrower. 

“Real Estate Collateral Requirements” shall mean the requirement with respect to the Mortgaged Properties as required by
Section 5.12, that the Collateral Agent shall have received a Mortgage for each Mortgaged Property in form and substance reasonably acceptable to the Collateral Agent and suitable for recording or filing, together with, with respect to each
Mortgage, the following documents: (a) a fully paid policy of title insurance (or “pro forma” or marked up commitment having the same effect of a title 

  
 -22- 

 
insurance policy) (i) in form and substance reasonably acceptable to the Collateral Agent insuring the Lien of the Mortgage encumbering such property as a valid first priority Lien,
(ii) in an amount reasonably satisfactory to the Collateral Agent, (iii) issued by a nationally recognized title insurance company reasonably satisfactory to the Collateral Agent (the “Title Company”) and
(iv) that includes (A) such coinsurance and direct access reinsurance as the Collateral Agent may reasonably deem necessary or desirable and (B) such endorsements or affirmative insurance reasonably required by the Collateral Agent
and available in the applicable jurisdiction (including, without limitation, endorsements on matters relating to usury, first loss, last dollar, zoning, revolving credit, doing business, variable rate, address, separate tax lot, subdivision, tie in
or cluster, contiguity, access and so-called comprehensive coverage over covenants and restrictions), (b) with respect to any property located in any jurisdiction in which a zoning endorsement is not available (or for which a zoning endorsement
is not available at a premium that is not excessive), if requested by the Collateral Agent, a zoning compliance letter from the applicable municipality or a zoning report from Planning and Zoning Resource Corporation (or another person acceptable to
the Collateral Agent, in each case reasonably satisfactory to the Collateral Agent, (c) upon the request of the Collateral Agent, a survey certified to Collateral Agent and the Title Company in form and substance reasonably satisfactory to
the Collateral Agent, (d) upon the request of the Collateral Agent, an appraisal complying with the requirements of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, by a third-party appraiser selected by the Collateral
Agent, (e) an opinion of local counsel reasonably acceptable to the Collateral Agent and in form and substance reasonably satisfactory to the Collateral Agent, (f) if requested by any Lender, no later than three (3) Business Days
prior to the delivery of the Mortgage, the following documents and instruments, in order to comply with the National Flood Insurance Reform Act of 1994 and related legislation (including the regulations of the Board of Governors of the Federal
Reserve System) (“Flood Laws”): (1) a completed standard flood hazard determination form, (2) if the improvement(s) to the improved real property is located in a special flood hazard area, a notification to the Borrower
(“Borrower Notice”) and, if applicable, notification to the Borrower that flood insurance coverage under the National Flood Insurance Program (“NFIP”) is not available because the community does not participate in
the NFIP, (3) documentation evidencing the Borrower’s receipt of the Borrower Notice and (4) if the Borrower Notice is required to be given and flood insurance is available in the community in which the property is located, a copy of
the flood insurance policy, the Borrower’s application for a flood insurance policy plus proof of premium payment, a declaration page confirming that flood insurance has been issued, or such other evidence of flood insurance satisfactory to the
Collateral Agent (any of the foregoing being “Evidence of Flood Insurance”), (g) upon the reasonable request of the Collateral Agent, Phase I environmental site assessment reports prepared in accordance with the current ASTM
E1527 standard (“Phase Is”) (to the extent not already provided) and reliance letters for such Phase Is (which Phase Is and reliance letters shall be in form and substance reasonably acceptable to the Collateral Agent) and any other
environmental information as the Collateral Agent shall reasonably request and (h) such other instruments and documents (including consulting engineer’s reports and lien searches) as the Collateral Agent shall reasonably request. 

  
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 “Recipient” shall mean (a) the Administrative Agent, (b) any Lender
and (c) any Issuing Bank, as applicable. 
 “Refinancing” shall mean the repayment in full and the termination of any
commitment to make extensions of credit under the Existing Debt. 
 “Register” shall have the meaning assigned to such term
in Section 9.04(c). 
 “Regulation T” shall mean Regulation T of the Board as from time to time in effect
and all official rulings and interpretations thereunder or thereof. 
 “Regulation U” shall mean Regulation U of
the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof. 

“Regulation X” shall mean Regulation X of the Board as from time to time in effect and all official rulings and
interpretations thereunder or thereof. 
 “Reimbursement Obligations” shall mean the Borrower’s obligations under
Section 2.21(e) to reimburse L/C Disbursements 
 “Related Parties” shall mean, with respect to any specified Person,
such Person’s Affiliates and the respective officers, directors, employees, agents, advisors, representatives, controlling persons, members, successors and permitted assigns of such Person and such Person’s Affiliates. 

“Release” shall mean any actual or threatened release, spill, emission, leaking, dumping, injection, pouring, pumping,
deposit, disposal, discharge, dispersal, leaching or migration into or through the indoor or outdoor environment, including the air, soil and ground and surface water or into, through, within or upon any building, structure, facility or fixture.

 “Required Lenders” shall mean, at any time, Lenders having Loans, L/C Exposure and unused Commitments representing more
than 50% of the sum of all Loans outstanding, L/C Exposure and unused Commitments at such time; provided that the Loans, L/C Exposure and unused Commitments of any Defaulting Lender shall be disregarded in the determination of the Required
Lenders at any time. 
 “Resignation Effective Date” shall have the meaning assigned to such term in Section 8.06.

 “Responsible Officer” of any Person shall mean any executive officer or Financial Officer of such Person and any other
officer or similar official thereof responsible for the administration of the obligations of such Person in respect of this Agreement. 

“Restricted Payment” shall mean any dividend or other distribution (whether in cash, securities or other property) with
respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including 

  
 -24- 

 
any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Equity Interests in the Borrower or any Subsidiary. 

“Restricted Subsidiary” shall mean any Subsidiary other than an Immaterial Subsidiary. 

“S&P” shall mean Standard & Poor’s Ratings Service, or any successor thereto. 

“SEC” shall mean the Securities and Exchange Commission. 

“Secured Hedging Agreement” shall mean any Hedging Agreement entered into by a Loan Party and a Qualified Counterparty. 

“Secured Parties” shall have the meaning assigned to such term in the Guarantee and Collateral Agreement. 

“Securities Act” shall mean the Securities Act of 1933, as amended. 

“Security Documents” shall mean the Mortgages, the Guarantee and Collateral Agreement and each of the security agreements,
mortgages and other instruments and documents executed and delivered pursuant to any of the foregoing or pursuant to Section 5.12. 

“Solvent” shall mean, (a) the sum of the liabilities (including contingent liabilities) of the Borrower and the
Restricted Subsidiaries, on a consolidated basis, does not exceed the fair value of the present assets of the Borrower and the Restricted Subsidiaries, on a consolidated basis, (b) the present fair saleable value of the assets of the Borrower
and the Restricted Subsidiaries, on a consolidated basis, is greater than the total amount that will be required to pay the probable liabilities (including contingent liabilities) of the Borrower and the Restricted Subsidiaries as they become
absolute and matured, (c) the capital of the Borrower and the Restricted Subsidiaries, on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the determination date, (d) the Borrower and the
Restricted Subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts or liabilities, including current obligations beyond their ability to pay such debts or other liabilities as they
become due (whether at maturity or otherwise) and (e) the Borrower and its Restricted Subsidiaries, on a consolidated basis, are “solvent” within the meaning given to that term and similar terms under applicable laws relating
to fraudulent transfers and conveyances. 
 “Statutory Reserves” shall mean a fraction (expressed as a decimal), the
numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) established by the Board and any other
banking authority, domestic or foreign, to which the Administrative Agent or any Lender (including any branch, Affiliate or other fronting office making or holding a Loan) is subject for Eurocurrency Liabilities (as defined in Regulation D of
the Board). Eurodollar 

  
 -25- 

 
Loans shall be deemed to constitute Eurocurrency Liabilities and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available
from time to time to any Lender under such Regulation D. Statutory Reserves shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“subsidiary” shall mean, with respect to any Person (herein referred to as the “parent”), any corporation,
partnership, limited liability company, association or other business entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or more than 50% of the
general partnership interests are, at the time any determination is being made, owned, Controlled or held, or (b) that is, at the time any determination is made, otherwise Controlled, by the parent or one or more subsidiaries of the parent or
by the parent and one or more subsidiaries of the parent. 
 “Subsidiary” shall mean any subsidiary of the Borrower. 

“Swap Obligation” shall mean, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract
or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act (including without limitation any Secured Hedging Agreement). 

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

“Termination Date” shall mean the earlier to occur of (a) the Latest Maturity Date and (b) the date on which the
Commitments hereunder are terminated or expire. 
 “Title Company” shall have the meaning assigned to such term in the
definition of Real Estate Collateral Requirements. 
 “Total Commitment” shall mean, at any time, the aggregate amount of
the Commitments as in effect at such time. The Total Commitment on September 15, 2014 is $75,000,000. 
 “Transaction
Costs” shall mean the fees, costs and expenses incurred in connection with the Transactions. 
 “Transactions”
shall mean, collectively, (a) the execution, delivery and performance by the Loan Parties of the Loan Documents to which they are, or will be, a party and the making of the Borrowings hereunder, (b) the repayment of all amounts due or
outstanding under or in respect of, and the termination of, the Existing Debt and (c) the payment of related fees and expenses. 

“Type” when used in respect of any Loan or Borrowing, shall refer to the Rate by reference to which interest on such Loan or
on the Loans comprising such Borrowing is determined. For purposes hereof, the term “Rate” shall mean the Adjusted LIBO Rate and the Alternate Base Rate. 

  
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 “Unfunded Pension Liability” shall mean, with respect to any Plan at any time,
the amount of any of its unfunded benefit liabilities as defined in Section 4001(a)(18) of ERISA. 
 “Unrestricted
Cash” shall mean, as of any date of determination, the amount (without duplication) of unrestricted cash and Permitted Investments of the Borrower and the Restricted Subsidiaries that is in deposit accounts or in securities accounts, or any
combination thereof, that are Controlled Deposit Accounts (as defined in the Guarantee and Collateral Agreement) or Controlled Securities Accounts (as defined in the Guarantee and Collateral Agreement), as applicable. 

“USA PATRIOT Act” shall mean The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)). 
 “U.S.
Person” shall mean any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code. 

“U.S. Tax Compliance Certificate” shall have the meaning assigned to such term in Section 2.19(g). 

“Wholly Owned Subsidiary” of any Person shall mean a subsidiary of such Person of which securities (except for
directors’ qualifying shares) or other ownership interests representing 100% of the Equity Interests are, at the time any determination is being made, owned, Controlled or held by such Person or one or more wholly owned subsidiaries of such
Person or by such Person and one or more wholly owned subsidiaries of such Person. 
 “Withdrawal Liability” shall mean
liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Withholding Agent” shall mean any Loan Party and the Administrative Agent. 

Section 1.02. Terms Generally. The definitions in Section 1.01 shall apply equally to both the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall
be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall,” and the words “asset” and
“property” shall be construed as having the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. The words
“herein”, “hereto”, “hereof” and “hereunder” and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular
provision thereof. All references herein to Articles, 

  
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Sections, Exhibits and Schedules shall be deemed references to Articles and Sections of, and Exhibits and Schedules to, this Agreement unless the context shall otherwise require. Except as
otherwise expressly provided herein, (a) any reference in this Agreement to any Loan Document or any other agreement, instrument or document shall mean such document as amended, restated, supplemented or otherwise modified from time to time,
but only to the extent that such amendment, restatements, supplements or modifications are not prohibited by this Agreement, (b) references to any law shall include all statutory and regulatory provisions consolidating, amending, replacing,
supplementing or interpreting such law, (c) all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that if the Borrower notifies the Administrative Agent that
the Borrower wishes to amend any provision of this Agreement or the other Loan Documents to eliminate the effect of any change in GAAP occurring after the date of this Agreement on the operation of such provision (or if the Administrative Agent
notifies the Borrower that the Required Lenders wish to amend any provision of this Agreement or the other Loan Documents) regardless of whether any such notice is given before or after such change in GAAP, then such provision shall be interpreted
on the basis of GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such provision is amended in a manner satisfactory to the Borrower and the Required Lenders and (d) all
terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made (i) without giving effect to any election under Accounting Standards Codification 825-10-25
(or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair value”, as defined
therein, (ii) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard
having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof and (iii) in a manner such
that the determination of whether a lease is to be treated as an operating lease or capital lease shall be made without giving effect to any change in accounting for leases pursuant to GAAP resulting from the implementation of proposed Accounting
Standards Update (ASU) Leases (Topic 840) issued August 17, 2010. 
 Section 1.03. Classification of Loans and Borrowings.
For purposes of this Agreement, Loans and Borrowings may be classified and referred to by Type (e.g., a “Eurodollar Loan” or a “Eurodollar Borrowing”). 

Section 1.04. Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be
deemed to be the stated amount in effect at such time; provided that with respect to any Letter of Credit that by its terms provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall, except
for the purpose of calculating the L/C Participation Fee and Commitment Fee, be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such
time. 

  
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 ARTICLE 2 

THE CREDITS 

Section 2.01. Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make Loans to the Borrower,
at any time and from time to time during the Commitment Period in accordance with the terms hereof, in an aggregate principal amount at any time outstanding that will not result in such Lender’s Exposure exceeding such Lender’s Commitment.
Within the limits set forth in the preceding sentence and subject to the terms and conditions set forth herein, amounts repaid or prepaid in respect of Loans may be reborrowed under this Section 2.01. 

Section 2.02. Loans. (a) Each Loan shall be made as part of a Borrowing consisting of Loans made by the Lenders ratably in
accordance with their applicable Commitments; provided that the failure of any Lender to make any Loan shall not in itself relieve any other Lender of its obligation to lend hereunder (it being understood, however, that no Lender shall be
responsible for the failure of any other Lender to make any Loan required to be made by such other Lender). Except for Loans deemed made pursuant to Section 2.02(f), the Loans comprising any Borrowing shall be in an aggregate principal amount
that is (i) an integral multiple of $1,000,000 and not less than $3,000,000 or (ii) equal to the remaining available balance of the applicable Commitments. 

(b) Subject to Sections 2.02(f), 2.08 and 2.14, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the
Borrower may request pursuant to Section 2.03. Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option
shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. Borrowings of more than one Type may be outstanding at the same time; provided further that the Borrower shall not be entitled
to request any Borrowing that, if made, would result in more than five (5) Eurodollar Borrowings outstanding hereunder at any time. 

(c) Except with respect to Loans deemed made pursuant to Section 2.02(f), each Lender shall make each Loan to be made by it hereunder on
the proposed date thereof by wire transfer of immediately available funds to such account as the Administrative Agent may designate not later than 1:00 p.m., New York City time, and the Administrative Agent shall promptly credit the amounts so
received to an account designated by the Borrower in the applicable Borrowing Request or, if a Borrowing shall not occur on such date because any condition precedent herein specified shall not have been met, return the amounts so received to the
respective Lenders. 
 (d) Unless the Administrative Agent shall have received notice from a Lender (i) in the case of a Eurodollar
Loan, prior to the date of any Borrowing and (ii) in the case of an ABR Loan prior to 1:00 p.m., New York City time, on the date of any Borrowing, in either case that such Lender will not make available to the Administrative Agent such
Lender’s portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative Agent on the date of such 

  
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Borrowing in accordance with paragraph (c) above and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If
the Administrative Agent shall have so made funds available then, to the extent that such Lender shall not have made such portion available to the Administrative Agent, such Lender and the Borrower severally agree to repay to the Administrative
Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower to but excluding the date such amount is repaid to the Administrative Agent at (A) in
the case of the Borrower, a rate per annum equal to the interest rate applicable at the time to the Loans comprising such Borrowing and (B) in the case of such Lender, a rate determined by the Administrative Agent to represent its cost of
overnight or short-term funds (which determination shall be conclusive absent manifest error). If such Lender shall repay to the Administrative Agent such corresponding amount, such amount shall constitute such Lender’s Loan as part of such
Borrowing for purposes of this Agreement. 
 (e) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled
to request any Eurodollar Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date. 
 (f) If the
Issuing Bank shall not have received from the Borrower the payment required to be made by Section 2.21(e) within the time specified in such Section, the Issuing Bank will promptly notify the Administrative Agent of the L/C Disbursement and the
Administrative Agent will promptly notify each Lender of such L/C Disbursement and its Credit Percentage thereof. Each Lender shall pay by wire transfer of immediately available funds to the Administrative Agent not later than 2:00 p.m., New York
City time, on such date (or, if such Lender shall have received such notice later than 12:00 (noon), New York City time, on any day, not later than 10:00 a.m., New York City time, on the immediately following Business Day), an amount equal to such
Lender’s Credit Percentage of such L/C Disbursement (it being understood that (i) if the conditions precedent to borrowing set forth in Sections 4.01(b) and (c) have been satisfied, such amount shall be deemed to constitute an
ABR Loan of such Lender and, to the extent of such payment, the obligations of the Borrower in respect of such L/C Disbursement shall be discharged and replaced with the resulting ABR Borrowing and (ii) if such conditions precedent to borrowing
have not been satisfied, then any such amount paid by any Lender shall not constitute a Loan and shall not relieve the Borrower from its obligation to reimburse such L/C Disbursement), and the Administrative Agent will promptly pay to the Issuing
Bank amounts so received by it from the Lenders. The Administrative Agent will promptly pay to the Issuing Bank any amounts received by it from the Borrower pursuant to Section 2.21(e) prior to the time that any Lender makes any payment
pursuant to this paragraph (f); any such amounts received by the Administrative Agent thereafter will be promptly remitted by the Administrative Agent to the Lenders that shall have made such payments and to the Issuing Bank, as their interests may
appear. If any Lender shall not have made its Credit Percentage of such L/C Disbursement available to the Administrative Agent as provided above, such Lender and the Borrower severally agree to pay interest on such amount, for each day from and
including the date such amount is required to be paid in accordance with this paragraph to but excluding the date 

  
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such amount is paid, to the Administrative Agent for the account of the Issuing Bank at (i) in the case of the Borrower, a rate per annum equal to the interest rate applicable to ABR Loans
pursuant to Section 2.06(a) and (ii) in the case of such Lender, for the first such day, the Federal Funds Effective Rate, and for each day thereafter, the Alternate Base Rate. 

Section 2.03. Borrowing Procedure. In order to request a Borrowing (other than a deemed Borrowing pursuant to
Section 2.02(f), as to which this Section 2.03 shall not apply), the Borrower shall notify the Administrative Agent of such request in writing or by telephone (a) in the case of a Eurodollar Borrowing, not later than 12:00 (noon), New
York City time, three (3) Business Days before a proposed Borrowing and (b) in the case of an ABR Borrowing, not later than 12:00 (noon), New York City time, on the date of the proposed Borrowing. Each such notice shall be irrevocable, and
any telephonic notice shall be confirmed promptly by delivery of a written Borrowing Request and shall specify the following information: (i) whether such Borrowing is to be a Eurodollar Borrowing or an ABR Borrowing; (ii) the date of such
Borrowing (which shall be a Business Day); (iii) the number and location of the account to which funds are to be disbursed; (iv) the amount of such Borrowing and (v) if such Borrowing is to be a Eurodollar Borrowing, the Interest
Period with respect thereto; provided that, notwithstanding any contrary specification in any Borrowing Request, each requested Borrowing shall comply with the requirements set forth in Section 2.02. If no election as to the Type of
Borrowing is specified in any such notice, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period with respect to any Eurodollar Borrowing is specified in any such notice, then the Borrower shall be deemed to have selected an
Interest Period of one month’s duration. The Administrative Agent shall promptly advise the applicable Lenders of any notice given pursuant to this Section 2.03 (and the contents thereof), and of each Lender’s pro rata share of the
requested Borrowing. 
 Section 2.04. Evidence of Debt; Repayment of Loans. (a) The Borrower hereby unconditionally
promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan of such Lender on the Maturity Date. 

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

(c) The Administrative Agent shall, in accordance with its customary practice, maintain accounts in which it will record (i) the amount
of each Loan made hereunder, the Class and Type thereof and, if applicable, the Interest Period applicable thereto, the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and
(ii) the amount of any sum received by the Administrative Agent hereunder from the Borrower or any Guarantor and each Lender’s share thereof. 

  
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 (d) The entries made in the accounts maintained pursuant to paragraphs (b) and
(c) above shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any
manner affect the obligations of the Borrower to repay the Loans in accordance with their terms. 
 (e) Any Lender may request that
Loans made by it hereunder be evidenced by a Note. In such event, the Borrower shall execute and deliver to such Lender a Note payable to such Lender and its registered assigns. Notwithstanding any other provision of this Agreement, in the event any
Lender shall request and receive such a Note, the interests represented by such Note shall at all times (including after any assignment of all or part of such interests pursuant to Section 9.04) be represented by one or more Notes payable to
the payee named therein or its registered assigns. 
 Section 2.05. Fees. (a) The Borrower agrees to pay to each Lender,
through the Administrative Agent, on the last Business Day of March, June, September and December in each year and on each date on which any Commitment of such Lender shall expire or be terminated as provided herein, a commitment fee (a
“Commitment Fee”) equal to 0.50% per annum on the daily unused amount of the Commitment of such Lender during the preceding quarter (or other period commencing with the date hereof or ending with the Maturity Date or the date
on which the Commitments of such Lender shall expire or be terminated). All Commitment Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. 

(b) The Borrower agrees to pay to the Administrative Agent, for its own account, the administrative fees set forth in the Engagement
Letter at the times and in the amounts specified therein (the “Administrative Agent Fees”). 
 (c) The
Borrower agrees to pay (i) to each Lender, through the Administrative Agent, on the last Business Day of March, June, September and December of each year and on the date on which the Commitment of such Lender shall expire or be
terminated as provided herein, a fee (an “L/C Participation Fee”) calculated on such Lender’s Credit Percentage of the daily aggregate L/C Exposure (excluding the portion thereof attributable to unreimbursed L/C Disbursements)
during the preceding quarter (or shorter period commencing with the date hereof or ending with the Maturity Date or the date on which all Letters of Credit have been canceled or have expired and the Commitments of all Lenders shall have been
terminated) at a rate per annum equal to the Applicable Margin from time to time used to determine the interest rate on Borrowings comprised of Eurodollar Loans pursuant to Section 2.06(b) and (ii) to the Issuing Bank with respect to each
Letter of Credit on the last Business Day of March, June, September and December of each year and on the date on which the Commitment of the Issuing Bank shall expire as or be terminated as provided herein, (x) a fronting fee which shall accrue
at a rate equal to 0.25% per annum on the average daily amount of the L/C Exposure (excluding any portion thereof attributable to unpaid Reimbursement Obligations) during the period from and including September 15, 2014 to but excluding
the later of the date of termination of the Commitments and the date on which there ceases to be any L/C 

  
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Exposure and (y) customary issuance and drawing fees and standard documentation, administration, payment and cancellation charges specified from time to time by the Issuing Bank (the
“Issuing Bank Fees”). All L/C Participation Fees and Issuing Bank Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. 

(d) The Borrower agrees to pay on the Closing Date to each Lender party to this Agreement on the Closing Date, as compensation for the
Commitment of such Lender, a closing fee in an amount equal to 0.50% of the stated principal amount of such Lender’s Commitment. Such fees shall be payable by the Borrower to each Lender on the Closing Date. Such closing fees will be in all
respects fully earned, due and payable on the Closing Date and non-refundable and non-creditable thereafter. 
 (e) All Fees shall be paid
on the dates due, in immediately available funds, to the Administrative Agent for distribution, if and as appropriate, among the Lenders, except that the Issuing Bank Fees shall be paid directly to the Issuing Bank. Once paid, none of the Fees shall
be refundable under any circumstances. 
 Section 2.06. Interest on Loans. (a) Subject to the provisions of
Section 2.07, the Loans comprising each ABR Borrowing shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, at all times and calculated from and including the date of
such Borrowing to but excluding the date of repayment thereof) at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin in effect from time to time. 

(b) Subject to the provisions of Section 2.07, the Loans comprising each Eurodollar Borrowing shall bear interest (computed on the basis
of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin in effect from time to time. 

(c) Interest on each Loan shall be payable on the Interest Payment Dates applicable to such Loan except as otherwise provided in this
Agreement. The applicable Alternate Base Rate or Adjusted LIBO Rate for each Interest Period or day within an Interest Period, as the case may be, shall be determined by the Administrative Agent, and such determination shall be conclusive absent
manifest error. 
 Section 2.07. Default Interest. If the Borrower shall default in the payment of any principal of or interest
on any Loan or any other amount due hereunder or under any other Loan Document, by acceleration or otherwise, then, until such defaulted amount shall have been paid in full or such default is waived, to the extent permitted by law, all such overdue
amounts shall bear interest (after as well as before judgment), payable on demand, (i) in the case of principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (ii) in all other
cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days at all times) equal to the rate that would be applicable to an ABR Loan plus 2.00% per annum. 

  
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 Section 2.08. Alternate Rate of Interest. In the event, and on each occasion, that on
the day two (2) Business Days prior to the commencement of any Interest Period for a Eurodollar Borrowing the Administrative Agent shall have determined that (a) Dollar deposits in the principal amounts of the Loans comprising such
Borrowing are not generally available in the London interbank market, (b) the rates at which such Dollar deposits are being offered will not adequately and fairly reflect the cost to the majority of Lenders of making or maintaining Eurodollar
Loans during such Interest Period or (c) reasonable means do not exist for ascertaining the Adjusted LIBO Rate, the Administrative Agent shall, as soon as practicable thereafter, give written or fax notice of such determination to the Borrower
and the Lenders. In the event of any such determination, until the Administrative Agent shall have advised the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, any request by the Borrower for a Eurodollar
Borrowing pursuant to Section 2.03 or Section 2.10 shall be deemed to be a request for an ABR Borrowing. Each determination by the Administrative Agent under this Section 2.08 shall be conclusive absent manifest error. 

Section 2.09. Termination and Reduction of Commitments. (a) Unless previously extended pursuant to Section 2.25, the
Commitments shall automatically terminate on the Maturity Date. The L/C Commitment shall automatically terminate on the earlier to occur of (i) the termination of the Commitments and (ii) the date 30 days prior to the Maturity Date. Each
Class of Extended Commitments shall automatically terminate on the date specified in the applicable Additional Credit Extension Amendment. 

(b) Upon at least three (3) Business Days’ prior irrevocable written or telephone notice to the Administrative Agent, the Borrower
may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Commitments (any such telephone notice shall be confirmed promptly by delivery of written notice thereof); provided that (i) each
partial reduction of the Commitments shall be in an integral multiple of $1,000,000 and in a minimum amount of $5,000,000, (ii) the Total Commitment shall not be reduced to an amount that is less than the Aggregate Exposure at the time and
(iii) any such termination or reduction notice may state that such notice is conditioned upon the effectiveness of other financing arrangements, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on
or prior to the specified effective date) if such condition is not satisfied. 
 (c) Each reduction in the Commitments hereunder shall be
made ratably among the Lenders in accordance with their respective applicable Commitments. The Borrower shall pay to the Administrative Agent for the account of the applicable Lenders, on the date of each termination or reduction, the Commitment
Fees on the amount of the Commitments so terminated or reduced accrued to but excluding the date of such termination or reduction. 

Section 2.10. Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon written or telephonic
notice to the Administrative Agent (a) not later than 12:00 (noon), New York City time, on the date of conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 12:00 (noon), New

  
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York City time, three (3) Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar
Borrowing for an additional Interest Period and (c) not later than 12:00 (noon), New York City time, three (3) Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing to another
permissible Interest Period, subject in each case to the following: 
 (i) each conversion or continuation shall be made pro
rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; 

(ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting
Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type; 

(iii) each conversion shall be effected by each Lender and the Administrative Agent by recording for the account of such Lender
the new Borrowing of such Lender resulting from such conversion and reducing the Borrowing (or portion thereof) of such Lender being converted by an equivalent principal amount; accrued interest on any Eurodollar Loan (or portion thereof) being
converted shall be paid by the Borrower at the time of conversion; 
 (iv) if any Eurodollar Borrowing is converted at a time
other than the end of the Interest Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant to Section 2.15; 

(v) any portion of a Borrowing maturing or required to be repaid in less than one month may not be converted into or continued
as a Eurodollar Borrowing; 
 (vi) any portion of a Eurodollar Borrowing that cannot be continued as a Eurodollar Borrowing
by reason of the immediately preceding clause (v) shall be automatically converted at the end of the Interest Period in effect for such Borrowing into an ABR Borrowing; and 

(vii) after the occurrence and during the continuance of an Event of Default, no outstanding Loan may be converted into, or
continued as, a Eurodollar Loan. 
 Each such telephonic notice shall be irrevocable and shall be confirmed promptly by delivery of an
Interest Election Request pursuant to this Section 2.10 and shall specify (a) the identity and amount of the Borrowing that the Borrower requests be converted or continued, (b) whether such Borrowing is to be converted to or continued
as a Eurodollar Borrowing or an ABR Borrowing, (c) if such notice requests a conversion, the date of such conversion (which shall be a Business Day) and (d) if such Borrowing is to be converted to or continued as a Eurodollar Borrowing,
the Interest Period with respect thereto. If no Interest Period is specified in any such notice with respect to any 

  
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conversion to or continuation as a Eurodollar Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent shall promptly
advise the Lenders of any notice given pursuant to this Section 2.10 and of each Lender’s pro rata share of any converted or continued Borrowing. If the Borrower shall not have given notice in accordance with this Section 2.10 to
continue any Borrowing into a subsequent Interest Period (and shall not otherwise have given notice in accordance with this Section 2.10 to convert such Borrowing), such Borrowing shall, at the end of the Interest Period applicable thereto
(unless repaid pursuant to the terms hereof), automatically be converted into an ABR Borrowing. 
 Section 2.11. Voluntary
Prepayment. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part, upon at least three (3) Business Days’ prior written notice (or telephonic notice promptly confirmed
by written notice) in the case of Eurodollar Loans, or written notice (or telephonic notice promptly confirmed by written notice) at least one (1) Business Day prior to the date of prepayment in the case of ABR Loans, to the Administrative
Agent before 12:00 (noon), New York City time; provided that each partial prepayment shall be in an amount that is an integral multiple of $1,000,000 and not less than $3,000,000. 

(b) Each notice of prepayment shall specify the prepayment date and the principal amount of each Borrowing (or portion thereof) to be prepaid,
shall be irrevocable and shall commit the Borrower to prepay such Borrowing by the amount stated therein on the date stated therein; provided that a notice of prepayment may state that such notice is conditioned upon the effectiveness of
other financing arrangements, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent prior to 12:00 (noon) on the specified effective date) if such condition is not satisfied; provided further that the
provisions of Section 2.15 shall apply with respect to any such revocation or extension. All prepayments under this Section 2.11 shall be subject to Section 2.15 but otherwise without premium or penalty. All prepayments under this
Section 2.11 (other than prepayments of ABR Loans that are not made in connection with the termination or permanent reduction of the Commitments) shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but
excluding the date of payment. 
 Section 2.12. Mandatory Prepayments. (a) In the event of any termination of all the
Commitments, the Borrower shall, on the date of such termination, repay or prepay all its outstanding Borrowings and replace or cause to be canceled or Cash Collateralized (or make other arrangements satisfactory to the Administrative Agent and the
Issuing Bank in its sole discretion with respect to) all outstanding Letters of Credit. If, after giving effect to any partial reduction of the Commitments or at any other time, the Aggregate Exposure would exceed the Total Commitment, then the
Borrower shall, on the date of such reduction or at such other time, repay or prepay Borrowings and, after the Borrowings shall have been repaid or prepaid in full, replace or cause to be canceled (or make other arrangements satisfactory to the
Administrative Agent and the Issuing Bank in its sole and absolute discretion with respect to) Letters of Credit in an amount sufficient to eliminate (or Cash Collateralize) such excess. 

  
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 (b) Each notice of prepayment shall specify the prepayment date, the Type of each Loan being
prepaid and the principal amount of each Loan (or portion thereof) to be prepaid. All prepayments of Borrowings under this Section 2.12 shall be subject to Section 2.15, but shall otherwise be without premium or penalty, and shall be
accompanied by accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of payment (other than prepayments of ABR Loans that are not made in connection with the termination or permanent reduction of the
Commitments). 
 Section 2.13. Increased Costs; Capital Adequacy. (a) If any Change in Law shall: 

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

(ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes and (B) Excluded Taxes) on its loans, loan
principal, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or 

(iii) impose on any Lender or the Issuing Bank or the London interbank market any other condition, cost or expense (other than
Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or participation in any Letter of Credit; 
 and the
result of any of the foregoing shall be to increase the cost to such Lender, the Issuing Bank or such other Recipient of making or maintaining any Loan or to increase the cost to any Lender, the Issuing Bank or such other Recipient of issuing or
maintaining any Letter of Credit or purchasing or maintaining a participation in any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender, the Issuing Bank or such other Recipient hereunder (whether of principal,
interest or otherwise) then the Borrower will pay to such Lender, the Issuing Bank or such other Recipient, as the case may be, upon demand such additional amount or amounts as will compensate such Lender, the Issuing Bank or such other Recipient,
as the case may be, for such additional costs incurred or reduction suffered. 
 (b) If any Lender or the Issuing Bank shall have determined
that any Change in Law regarding capital adequacy or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or the Issuing Bank’s capital or on the capital of such Lender’s or the Issuing
Bank’s holding company, if any, as a consequence of this Agreement or the Loans made or participations in Letters of Credit purchased by such Lender pursuant hereto or the Letters of Credit issued by the Issuing Bank pursuant hereto to a level
below that which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the Issuing Bank’s policies and
the policies of 

  
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such Lender’s or the Issuing Bank’s holding company with respect to capital adequacy or liquidity) then from time to time the Borrower shall pay to such Lender or the Issuing Bank, as
the case may be, such additional amount or amounts as will compensate such Lender, the Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such reduction suffered. 

(c) A certificate of a Lender, the Issuing Bank or such other Recipient setting forth the amount or amounts necessary to compensate such
Lender, the Issuing Bank or such other Recipient or the holding company, as applicable, as specified in paragraph (a) or (b) above shall be delivered to the Borrower and shall be conclusive absent manifest error. Any such certificate shall
set forth in reasonable detail a calculation of the amount owed. The Borrower shall pay such Lender, the Issuing Bank or such other Recipient the amount shown as due on any such certificate delivered by it within ten (10) days after its receipt
of the same. 
 (d) Failure or delay on the part of any Lender, the Issuing Bank or other such Recipient to demand compensation pursuant to
this Section shall not constitute a waiver of such Lender’s, the Issuing Bank’s or such other Recipient’s right to demand such compensation; provided that the Borrower shall not be required to compensate any Lender, the
Issuing Bank or other such Recipient under paragraph (a) or (b) above pursuant to this Section for any increased costs incurred or reductions suffered more than six (6) months prior to the date that such Lender, the Issuing Bank
or other Recipient, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions, and of such Lender’s, the Issuing Bank’s or other such Recipient’s intention to claim compensation
therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the six (6) month period referred to above shall be extended to include the period of retroactive effect thereof). 

Section 2.14. Change in Legality. (a) Notwithstanding any other provision of this Agreement, if any Change in Law shall make
it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written notice to the Borrower and to the Administrative Agent: 

(i) such Lender may declare that Eurodollar Loans will not thereafter (for the duration of such unlawfulness) be made by such
Lender hereunder (or be continued for additional Interest Periods) and ABR Loans will not thereafter (for such duration) be converted into Eurodollar Loans, whereupon any request for a Eurodollar Borrowing (or to convert an ABR Borrowing to a
Eurodollar Borrowing or to continue a Eurodollar Borrowing for an additional Interest Period) shall, as to such Lender only, be deemed a request for an ABR Loan (or a request to continue an ABR Loan as such or to convert a Eurodollar Loan into an
ABR Loan, as the case may be), unless such declaration shall be subsequently withdrawn; and 
 (ii) such Lender may require
that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. 

  
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 In the event any Lender shall exercise its rights under (i) or (ii) above, all payments
and prepayments of principal that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such
Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans. 
 (b) For purposes of this Section 2.14, a notice to
the Borrower by any Lender shall be effective as to each Eurodollar Loan made by such Lender, if lawful, on the last day of the Interest Period then applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of
receipt by the Borrower. 
 Section 2.15. Breakage. The Borrower shall indemnify each Lender against any loss or expense that
such Lender may sustain or incur as a consequence of (a) any event, other than a default by such Lender in the performance of its obligations hereunder, which results in (i) such Lender receiving or being deemed to receive any amount on
account of the principal of any Eurodollar Loan prior to the end of the Interest Period in effect therefor, (ii) the conversion of any Eurodollar Loan to an ABR Loan, or the conversion of the Interest Period with respect to any Eurodollar Loan,
in each case other than on the last day of the Interest Period in effect therefor, or (iii) any Eurodollar Loan to be made by such Lender (including any Eurodollar Loan to be made pursuant to a conversion or continuation under
Section 2.10) not being made after notice of such Loan shall have been given by the Borrower hereunder (any of the events referred to in this clause (a) being called a “Breakage Event”) or (b) any default in the
making of any payment or prepayment required to be made hereunder. In the case of any Breakage Event, such loss shall include an amount equal to the excess, as reasonably determined by such Lender, of (i) its cost of obtaining funds for the
Eurodollar Loan that is the subject of such Breakage Event for the period from the date of such Breakage Event to the last day of the Interest Period in effect (or that would have been in effect) for such Loan over (ii) the amount of interest
likely to be realized by such Lender in redeploying the funds released or not utilized by reason of such Breakage Event for such period. A certificate of any Lender setting forth any amount or amounts which such Lender is entitled to receive
pursuant to this Section 2.15 shall be delivered to the Borrower and shall be conclusive absent manifest error. 
 Section 2.16.
Pro Rata Treatment. Except as otherwise expressly provided herein, each Borrowing, each payment or prepayment of principal of any Borrowing, each payment of interest on the Loans, each payment of the Commitment Fees and L/C Participation
Fees, each reduction of the Commitments and each conversion of any Borrowing to or continuation of any Borrowing as a Borrowing of any Type shall be allocated pro rata among the Lenders in accordance with their respective applicable Commitments (or,
if such Commitments shall have expired or been terminated, in accordance with the respective principal amounts of their outstanding Loans). Each Lender agrees that in computing such Lender’s portion of any Borrowing to be made hereunder, the
Administrative Agent may, in its discretion, round each Lender’s percentage of such Borrowing to the next higher or lower whole Dollar amount. 

  
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 Section 2.17. Sharing of Setoffs. If any Lender shall, by exercising any right of
setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans or other Obligations hereunder resulting in such Lender receiving payment of a proportion of the aggregate amount of its Loans and
accrued interest thereon or other such obligations greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for
cash at face value) participations in the Loans and such other obligations of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with
the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that: 

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

(ii) the provisions of this Section 2.17 shall not be construed to apply to (x) any payment made by the Borrower
pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), or (y) any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Loans or Commitments, participations in Letters of Credit or L/C Disbursements to any assignee or participant, other than to the Borrower or any of its Affiliates (as to which the provisions of this
Section 2.17 shall apply). 
 The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against each Loan Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct
creditor of each Loan Party in the amount of such participation. 
 Section 2.18. Payments. (a) The Borrower shall make
each payment (including principal of or interest on any Borrowing, any L/C Disbursement or any Fees or other amounts) hereunder or under any other Loan Document not later than 2:00 p.m., New York City time, on the date when due in immediately
available Dollars, without setoff, defense or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of
calculating interest thereon. Each such payment (other than Issuing Bank Fees, which shall be paid directly to the Issuing Bank) shall be made to the Administrative Agent at its offices at Eleven Madison Avenue, New York, NY 10010. The
Administrative Agent shall promptly distribute to each Lender any payments received by the Administrative Agent on behalf of such Lender. 

  
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 (b) Except as otherwise expressly provided herein, whenever any payment (including principal of
or interest on any Borrowing or any Fees or other amounts) hereunder or under any other Loan Document shall become due, or otherwise would occur, on a day that is not a Business Day, such payment may be made on the next succeeding Business Day, and
such extension of time shall in such case be included in the computation of interest or Fees, if applicable. 
 Section 2.19.
Taxes. 
 (a) Issuing Bank. For purposes of this Section 2.19, the term “Lender” includes the Issuing Bank.

 (b) Payments Free of Taxes. Any and all payments by or on account of any obligation of any Loan Party under any Loan Document
shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any
Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in
accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and
withholdings applicable to additional sums payable under this Section 2.19) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(c) Payment of Other Taxes by the Loan Parties. The Loan Parties shall timely pay to the relevant Governmental Authority in accordance
with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 
 (d)
Indemnification by the Loan Parties. (i) The Borrower shall, and shall cause the other Loan Parties to, jointly and severally indemnify each Recipient, within 10 days after demand therefor, for the full amount of any Indemnified Taxes
(including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 2.19) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to
the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

(ii) For purposes of determining withholding Taxes imposed under FATCA, from and after September 15, 2014, the Borrower
and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Loans as not qualifying as a “grandfathered obligation” within the meaning of Treasury
Regulation Section 1.1471-2(b)(2)(i). 

  
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 (e) Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes
and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 9.04(d) relating to the maintenance of a Participant Register and
(iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not
such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest
error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source
against any amount due to the Administrative Agent under this paragraph (e). 
 (f) Evidence of Payments. As soon as
practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this Section 2.19, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such
Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(g) Status of Lenders. (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to
payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably
requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent,
shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to
backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in
Sections 2.19(g)(ii)(A), 2.19(g)(ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or
would materially prejudice the legal or commercial position of such Lender. 

  
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 (ii) Without limiting the generality of the foregoing, in the event that the
Borrower is a U.S. Person, 
 (A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent
on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such
Lender is exempt from U.S. federal backup withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally
entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to
time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable: 

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

(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of
the Code, (x) a certificate substantially in the form of Exhibit I-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the
Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed
originals of IRS Form W-8BEN; or 
 (4) to the extent a Foreign Lender is not the beneficial owner, executed originals of
IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit I-2 or Exhibit I-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as
applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest 

  
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exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit I-4 on behalf of each such direct and indirect partner; 

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

(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if
such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent
at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code)
and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has
complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date
of this Agreement. 
 Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate
in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(h) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a
refund of any Taxes as to which it has been indemnified pursuant to this Section 2.19 (including by the payment of additional amounts pursuant to this Section 2.19), it shall pay to the indemnifying party an amount equal to such refund
(but only to the extent of indemnity payments made under this Section 2.19 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes imposed on the receipt of such refund) of such indemnified
party and without interest (other than any interest paid by the relevant 

  
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Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to
this paragraph (h) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything
to the contrary in this paragraph (h), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (h) the payment of which would place the indemnified party in a less favorable net
after-Tax position than the indemnified party would have been in if the Tax subject to indemnification had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts giving rise to such refund had never
been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

(i) Survival. Each party’s obligations under this Section 2.19 shall survive the resignation or replacement of the
Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document. 

Section 2.20. Assignment of Commitments under Certain Circumstances; Duty to Mitigate. (a) In the event (i) any Lender
or the Issuing Bank delivers a certificate requesting compensation pursuant to Section 2.13, (ii) any Lender or the Issuing Bank delivers a notice described in Section 2.14, (iii) the Borrower is required to pay any Indemnified
Taxes or additional amounts with respect thereto to any Lender or the Issuing Bank or any Governmental Authority on account of any Lender or the Issuing Bank pursuant to Section 2.19, (iv) any Lender refuses to consent to any amendment,
waiver or other modification of any Loan Document requested by the Borrower that requires the consent of a greater percentage of the Lenders than the Required Lenders or from all affected Lenders and such amendment, waiver or other modification is
consented to by the Required Lenders or (v) any Lender becomes a Defaulting Lender, then, in each case, the Borrower may, at its sole expense and effort (including with respect to the processing and recordation fee referred to in
Section 9.04(b)), upon notice to such Lender or the Issuing Bank, as the case may be, and the Administrative Agent, require such Lender or the Issuing Bank to transfer and assign, without recourse (in accordance with and subject to the
restrictions contained in Section 9.04), all of its interests, rights and obligations under this Agreement to an Eligible Assignee that shall assume such assigned obligations (and, with respect to clause (iv) above, shall consent to such
requested amendment, waiver or other modification); provided that (x) such assignment shall not conflict with any law, rule or regulation or order of any court or other Governmental Authority having jurisdiction, and (y) the
Borrower or such assignee shall have paid to the affected Lender or the Issuing Bank in immediately available funds an amount equal to the sum of the principal of and interest accrued to the date of such payment on the outstanding Loans or L/C
Disbursements of such Lender or the Issuing Bank, respectively, plus all Fees and other amounts accrued for the account of such Lender or the Issuing Bank hereunder with respect thereto (including any amounts under Sections 2.13, 2.15 and
2.19); provided further that if prior to any such transfer and 

  
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assignment the circumstances or event that resulted in such Lender’s or the Issuing Bank’s claim for compensation under Section 2.13, notice under Section 2.14 or the amounts
paid pursuant to Section 2.19, as the case may be, cease to cause such Lender or the Issuing Bank to suffer increased costs or reductions in amounts received or receivable or reduction in return on capital, cease to have the consequences
specified in Section 2.14 or cease to result in amounts being payable under Section 2.19, as the case may be (including as a result of any action taken by such Lender or the Issuing Bank pursuant to paragraph (b) below), or if such
Lender or the Issuing Bank shall waive its right to claim further compensation under Section 2.13 in respect of such circumstances or event, shall withdraw its notice under Section 2.14 or shall waive its right to further payments under
Section 2.19 in respect of such circumstances or event or shall consent to the proposed amendment, waiver, consent or other modification, as the case may be, then such Lender or the Issuing Bank shall not thereafter be required to make any such
transfer and assignment hereunder. Each Lender and the Issuing Bank hereby grants to the Administrative Agent an irrevocable power of attorney (which power is coupled with an interest) to execute and deliver, on behalf of such Lender or the Issuing
Bank, as the case may be, as assignor, any Assignment and Acceptance necessary to effectuate any assignment of such Lender’s or the Issuing Bank’s interests hereunder in the circumstances contemplated by this Section 2.20(a). 

(b) If (i) any Lender or the Issuing Bank shall request compensation under Section 2.13, (ii) any Lender or the Issuing Bank
delivers a notice described in Section 2.14 or (iii) the Borrower is required to pay any Indemnified Taxes or additional amount with respect thereto to any Lender or the Issuing Bank or any Governmental Authority on account of any Lender
or the Issuing Bank pursuant to Section 2.19, then such Lender or the Issuing Bank shall use reasonable efforts (which shall not require such Lender or the Issuing Bank to incur an unreimbursed loss or unreimbursed cost or expense or otherwise
take any action inconsistent with its internal policies or legal or regulatory restrictions or suffer any disadvantage or burden deemed by it to be significant) (x) except in the case of a requirement to pay Indemnified Taxes or additional
amounts with respect thereto pursuant to Section 2.19, to file any certificate or document reasonably requested in writing by the Borrower or (y) to assign its rights (other than its existing rights to payments pursuant to
Section 2.13 or Section 2.19) and delegate and transfer its obligations hereunder to another of its offices, branches or affiliates, if such filing or assignment would reduce its claims for compensation under Section 2.13 or
Section 2.19 enable it to withdraw its notice pursuant to Section 2.14 or would reduce amounts payable pursuant to Section 2.19, as the case may be, in the future. The Borrower hereby agrees to pay all reasonable costs and expenses
incurred by any Lender or the Issuing Bank in connection with any such filing or assignment, delegation and transfer. 
 Section 2.21.
Letters of Credit. (a) General. The Borrower may request the issuance of a Letter of Credit for its own account, in a form reasonably acceptable to the Issuing Bank (provided that the Issuing Bank shall provide a copy of
such form to the Administrative Agent promptly upon request), at any time and from time to time while the L/C Commitment remains in effect. This Section shall not be construed to impose an obligation upon the Issuing Bank to issue any Letter of
Credit that is inconsistent with the terms and conditions of this Agreement. 

  
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 (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. In order
to request the issuance of a Letter of Credit (or to amend, renew or extend an existing Letter of Credit), the Borrower shall hand deliver or fax to the Issuing Bank and the Administrative Agent (not less than three (3) days in advance of the
requested date of issuance, amendment, renewal or extension) a written notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, the date of issuance, amendment, renewal or
extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) below), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary
to prepare such Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if, and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that, after
giving effect to such issuance, amendment, renewal or extension (i) the aggregate principal amount of outstanding Letters of Credit issued by any Issuing Bank shall not exceed such Issuing Bank’s L/C Commitment, (ii) the aggregate
principal amount of outstanding Letters of Credit issued by any Issuing Bank shall not exceed such Issuing Bank’s pro rata share (based on the L/C Commitments) of the aggregate principal amount of all outstanding Letters of Credit
(iii) the L/C Exposure shall not exceed the L/C Sublimit and (iv) the Aggregate Exposure shall not exceed the Total Commitment. If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application or other
agreement on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of
credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 

(c) Expiration Date. Each Letter of Credit shall expire at the close of business on the earlier of (i) the date one year
after the date of the issuance of such Letter of Credit (or such later date as shall be acceptable to the Issuing Bank and the Lenders) and (ii) the date that is five (5) Business Days prior to the Maturity Date, unless such Letter of
Credit expires by its terms on an earlier date; provided that a Letter of Credit may, upon the request of the Borrower, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of 12
months or less (but not beyond the date that is five (5) Business Days prior to the Maturity Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days (or such longer period as may be specified in such Letter of Credit)
prior to the then-applicable expiration date that such Letter of Credit will not be renewed. 
 (d) Participations. By the
issuance of a Letter of Credit and without any further action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each such Lender hereby acquires from the Issuing Bank, a participation in such Letter
of Credit equal to such Lender’s Credit Percentage of the aggregate amount available to be drawn under such Letter of Credit, effective upon the 

  
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issuance of such Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the
account of the Issuing Bank, such Lender’s Credit Percentage of each L/C Disbursement made by the Issuing Bank and not reimbursed by the Borrower (or, if applicable, another party pursuant to its obligations under any other Loan Document)
forthwith on the date due as provided in Section 2.02(f). Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not
be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or an Event of Default, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 

(e) Reimbursement. If the Issuing Bank shall make any L/C Disbursement in respect of a Letter of Credit, the Borrower shall pay to the
Administrative Agent an amount equal to such L/C Disbursement not later than five (5) hours after the Borrower shall have received notice from the Issuing Bank that payment of such draft will be made, or, if the Borrower shall have received
such notice later than 12:00 (noon), New York City time, on any Business Day, not later than 10:00 a.m., New York City time, on the immediately following Business Day. 

(f) Obligations Absolute. The Borrower’s obligations to reimburse L/C Disbursements as provided in paragraph (e) above shall
be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, under any and all circumstances whatsoever, and irrespective of: 

(i) any lack of validity or enforceability of any Letter of Credit or any Loan Document, or any term or provision therein; 

(ii) any amendment or waiver of or any consent to departure from all or any of the provisions of any Letter of Credit or any
Loan Document; 
 (iii) the existence of any claim, setoff, defense or other right that the Borrower, any other party
guaranteeing, or otherwise obligated with, the Borrower, any Subsidiary or other Affiliate thereof or any other Person may at any time have against the beneficiary under any Letter of Credit, the Issuing Bank, the Administrative Agent or any Lender
or any other Person, whether in connection with this Agreement, any other Loan Document or any other related or unrelated agreement or transaction; 

(iv) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent, invalid or insufficient
in any respect or any statement therein being untrue or inaccurate in any respect; 
 (v) payment by the Issuing Bank under a
Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit; and 

(vi) any other act or omission to act or delay of any kind of the Issuing Bank, the Lenders, the Administrative Agent or any
other Person or any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of the Borrower’s obligations hereunder.

  
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 Without limiting the generality of the foregoing, it is expressly understood and agreed that the
absolute and unconditional obligation of the Borrower hereunder to reimburse L/C Disbursements will not be excused by the gross negligence or willful misconduct of the Issuing Bank. However, the foregoing shall not be construed to excuse the Issuing
Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are
caused by the Issuing Bank’s gross negligence or willful misconduct as determined by a final and non-appealable judgment of a court of competent jurisdiction in determining whether drafts and other documents presented under a Letter of Credit
comply with the terms thereof. It is further understood and agreed that the Issuing Bank may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the
contrary and, in making any payment under any Letter of Credit (i) the Issuing Bank’s exclusive reliance on the documents presented to it under such Letter of Credit as to any and all matters set forth therein, including reliance on the
amount of any draft presented under such Letter of Credit, whether or not the amount due to the beneficiary thereunder equals the amount of such draft and whether or not any document presented pursuant to such Letter of Credit proves to be
insufficient in any respect, if such document on its face appears to be in order, and whether or not any other statement or any other document presented pursuant to such Letter of Credit proves to be forged or invalid or any statement therein proves
to be inaccurate or untrue in any respect whatsoever and (ii) any noncompliance in any immaterial respect of the documents presented under such Letter of Credit with the terms thereof shall, in each case, be deemed not to constitute gross
negligence or willful misconduct of the Issuing Bank. 
 (g) Disbursement Procedures. The Issuing Bank shall, promptly following its
receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall as promptly as possible give telephonic notification, confirmed by notice in writing, to the Administrative Agent
and the Borrower of such demand for payment and whether the Issuing Bank has made or will make an L/C Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation
to reimburse the Issuing Bank and the Lenders with respect to any such L/C Disbursement. 
 (h) Interim Interest. If the Issuing Bank
shall make any L/C Disbursement in respect of a Letter of Credit, then, unless the Borrower shall reimburse such L/C Disbursement in full on such date, the unpaid amount thereof shall bear interest for the account of the Issuing Bank, for each day
from and including the date of such L/C Disbursement, to but excluding the earlier of the date of payment by the Borrower or the date on which interest shall commence to accrue thereon as provided in Section 2.02(f), at the rate per annum that
would apply to such amount if such amount were an ABR Loan. 

  
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 (i) Resignation or Removal of the Issuing Bank. The Issuing Bank may resign at any time by
giving 30 days’ prior written notice to the Administrative Agent, the Lenders and the Borrower, and may be removed at any time by the Borrower by notice to the Issuing Bank, the Administrative Agent and the Lenders. Upon the acceptance of any
appointment as the Issuing Bank hereunder by a Lender that shall agree to serve as the successor Issuing Bank, such successor shall succeed to and become vested with all the interests, rights and obligations of the retiring Issuing Bank. At the time
such removal or resignation shall become effective, the Borrower shall pay all accrued and unpaid fees pursuant to Section 2.05(c)(ii). The acceptance of any appointment as the Issuing Bank hereunder by a successor Lender shall be evidenced by
an agreement entered into by such successor, in a form satisfactory to the Borrower and the Administrative Agent, and, from and after the effective date of such agreement, (i) such successor Lender shall have all the rights and obligations of
the previous Issuing Bank under this Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous
Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the resignation or removal of the Issuing Bank hereunder, the retiring Issuing Bank shall remain a party hereto and shall continue to have all the
rights and obligations of the Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such resignation or removal, but shall not be required to issue additional Letters of Credit. 

(j) Additional Issuing Banks. The Borrower may, at any time and from time to time with the consent of the Administrative Agent (which
consent shall not be unreasonably withheld or delayed) and such Lender, designate one or more additional Lenders to act as an issuing bank under the terms of this Agreement, subject to reporting requirements reasonably satisfactory to the
Administrative Agent with respect to issuances, amendments, extensions and terminations of Letters of Credit by such additional issuing bank. Any Lender designated as an issuing bank pursuant to this paragraph (j) shall be deemed to be an
“Issuing Bank” (in addition to being a Lender) in respect of Letters of Credit issued or to be issued by such Lender, and, with respect to such Letters of Credit, such term shall thereafter apply to the other Issuing Bank and such
Lender. 
 Section 2.22. Cash Collateral. (a) Obligation To Provide Cash Collateral. At any time that (i) there
shall exist a Defaulting Lender the Borrower shall within one (1) Business Day following its receipt of a written request from the Administrative Agent or the Issuing Bank (with a copy to the Administrative Agent), Cash Collateralize the
Issuing Bank’s Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to Section 2.23(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral
Amount or (ii) an Event of Default shall have occurred and be continuing, the Borrower shall on the Business Day it receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated,
Lenders whose Credit Percentage 

  
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exceeds 50%) of such Event of Default, Cash Collateralize the aggregate L/C Exposure as of such date in an amount not less than the Minimum Collateral Amount; provided that the obligation
to Cash Collateralize the aggregate L/C Exposure in the case of this clause (ii) will become effective immediately, without demand or notice of any kind, upon the occurrence of an Event of Default under Section 7.01(g) or 7.01(h). 

(b) Grant of Security Interest. The Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby
grants to the Collateral Agent, for the benefit of the Issuing Bank and the Lenders, and agrees to maintain, a first priority security interest in all Cash Collateral as security for the Borrower’s obligation to reimburse L/C Disbursement, any
Defaulting Lender’s obligation to fund participations in respect of the L/C Exposure and the Borrower’s payment and performance of the other Obligations, to be applied pursuant to clause (c) below. If at any time the Collateral Agent
determines that Cash Collateral is subject to any right or claim of any Person other than the Collateral Agent, the Issuing Bank or the Lenders, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the
Borrower shall, promptly upon demand by the Collateral Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after, if applicable, giving effect to any Cash Collateral
provided by the Defaulting Lender). Other than any interest earned on the investment of Cash Collateral on deposit in an account at the Administrative Agent in Permitted Investments, which investments shall be made at the option and sole discretion
of the Collateral Agent, Cash Collateral shall not bear interest. Interest or profits, if any, on such investments shall accumulate in and for the benefit of such account. 

(c) Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under
(i) Section 2.22(a)(i) or Section 2.23 to reduce the Issuing Bank’s Fronting Exposure shall be applied to the satisfaction of the Defaulting Lender’s obligation with respect to the L/C Exposure to fund participations in
respect of Letters of Credit (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise
be provided for herein and (ii) Section 2.22(b) shall (x) automatically be applied by the Administrative Agent to reimburse the Issuing Bank for L/C Disbursements for which it has not been reimbursed, (y) be held for the
satisfaction of the reimbursement obligations of the Borrower for the L/C Exposure at such time and (z) if the maturity of the Loans has been accelerated (but subject to the consent of Lenders whose Credit Percentage exceeds 50%), be applied to
satisfy the other Obligations. 
 (d) Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided under
(i) Section 2.22(a)(i) or Section 2.23 to reduce the Issuing Bank’s Fronting Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.22 following (x) the elimination of the
applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender) or (y) the determination by the Administrative Agent and each Issuing Bank that there exists excess Cash Collateral;
provided that, subject to Section 2.23, the Person providing Cash Collateral and the Issuing Bank may agree such Cash Collateral shall be held to support 

  
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future anticipated Fronting Exposure or other obligations; and (ii) Section 2.22(b) shall be returned to the Borrower within three (3) Business Days after all Events of Default
have been cured or waived. 
 Section 2.23. Defaulting Lender. (a) Defaulting Lender Adjustments. Notwithstanding
anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

(i) Waivers and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or
consent with respect to this Agreement shall be restricted as set forth in the definition of Required Lenders. 
 (ii)
Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 7.01
or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 9.06 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts
owing by such Defaulting Lender to the Administrative Agent hereunder, second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Bank hereunder, third, to Cash Collateralize the Issuing Bank’s
Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.22, fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent, fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in
order to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize the Issuing Bank’s future Fronting Exposure with respect to such Defaulting
Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.22, sixth, to the payment of any amounts owing to the Lenders or the Issuing Bank as a result of any judgment of a court of competent
jurisdiction obtained by any Lender or the Issuing Bank against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement, seventh, so long as no Default or Event of Default exists, to the
payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this
Agreement, and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that, if (x) such payment is a payment of the principal amount of any Loans or L/C Disbursements in respect of which
such Defaulting Lender has not fully funded its appropriate share and (y) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 4.01 were satisfied or waived, such payment
shall be applied solely to 

  
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pay the Loans of, and L/C Disbursements owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Disbursements owed to, such
Defaulting Lender until such time as all Loans and funded and unfunded participations in Letters of Credit are held by the Lenders pro rata in accordance with the Commitments without giving effect to Section 2.23(a)(iv). Any payments,
prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.23(a)(ii) shall be deemed paid to and redirected by
such Defaulting Lender, and each Lender irrevocably consents hereto. 
 (iii) Certain Fees. No Defaulting Lender shall
be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Commitment Fee that otherwise would have been required to have been paid to that
Defaulting Lender). 
 (A) Each Defaulting Lender shall be entitled to receive L/C Participation Fees for any period during
which that Lender is a Defaulting Lender only to the extent allocable to its Credit Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to Section 2.22. 

(B) With respect to any L/C Participation Fee not required to be paid to any Defaulting Lender pursuant to clause
(A) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such L/C Participation Fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in Letters of Credit
that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the Issuing Bank the amount of any such L/C Participation Fee otherwise payable to such Defaulting Lender to the extent allocable to the
Issuing Bank’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such L/C Participation Fee. 

(iv) Reallocation of Participations to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s
participation in Letters of Credit shall be automatically reallocated among Lenders that are Non-Defaulting Lenders in accordance with their respective Credit Percentages (calculated without regard to such Defaulting Lender’s Commitment) but
only to the extent that such reallocation does not cause the aggregate Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment. No reallocation hereunder shall constitute a waiver or release of any claim
of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such
reallocation. 
 (v) Cash Collateral. If the reallocation described in clause (iv) above cannot, or can only
partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, Cash Collateralize the Issuing Bank’s Fronting Exposure in accordance with the procedures set forth in
Section 2.22. 

  
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 (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent and the Issuing Bank
agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may
include arrangements with respect to any Cash Collateral of such Lender), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may
determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be held pro rata by the Lenders in accordance with their Credit Percentages (without giving effect to Section 2.23(a)(iv)), whereupon
such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; provided
further that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having
been a Defaulting Lender. 
 (c) New Letters of Credit. So long as any Lender is a Defaulting Lender, the Issuing Bank shall not be
required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto. 

Section 2.24. Incremental Facilities. (a) The Borrower may, by written notice to the Administrative Agent from time to time,
request Incremental Commitments in an amount such that, after giving effect thereto, the Aggregate Incremental Amount does not exceed the Incremental Cap. Such notice shall set forth (i) the amount of the Incremental Commitments being requested
(which shall be in minimum increments of $1,000,000 and a minimum amount of $5,000,000) and (ii) the date on which such Incremental Commitments are requested to become effective (which shall not be less than ten (10) Business Days nor more
than sixty (60) days after the date of such notice (or such longer or shorter periods as the Administrative Agent shall agree)). The Borrower may seek Incremental Commitments from existing Lenders (each of which shall be entitled to agree or
decline to participate in its sole discretion) or, to the extent that existing Lenders do not agree to provide Incremental Commitments in the amount requested, any Additional Lender. 

(b) It shall be a condition precedent to the effectiveness of any Incremental Commitment that (i) no Default or Event of Default shall
have occurred and be continuing immediately prior to or immediately after giving effect to such Incremental Commitment, (ii) the representations and warranties set forth in Article 3 and in each other Loan Document shall be true and correct in
all material respects on and as of the date such Incremental Commitments become effective, (iii) immediately after the 

  
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effectiveness of such Incremental Commitment, Liquidity shall equal or exceed $30,000,000 and (iv) the terms of such Incremental Commitments and the Incremental Loans thereunder shall comply
with Section 2.24(c). 
 (c) Each Incremental Commitment (and the Incremental Loans thereunder) shall be implemented as an increase to
the Total Commitments and shall be on terms identical to the existing Commitments (and the Loans thereunder). 
 (d) In connection with any
Incremental Commitments, the Borrower, the Administrative Agent and each applicable Incremental Lender shall execute and deliver to the Administrative Agent an Additional Credit Extension Amendment and such other documentation as the Administrative
Agent shall reasonably specify to evidence the Incremental Commitment of each Incremental Lender. The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Additional Credit Extension Amendment. Any Additional Credit
Extension Amendment may, without consent of any other Lender, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect
the provisions of this Section 2.24, and such other technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection with the establishment of such new Class or
tranche, in each case on terms consistent with this Section 2.24. Upon each increase in the Commitments pursuant to this Section 2.24, each Lender with a Commitment immediately prior to such increase will automatically and without further
act be deemed to have assigned to each Incremental Lender in respect of such increase, and each such Incremental Lender will automatically and without further act be deemed to have assumed, a portion of such existing Lender’s participations
hereunder in outstanding Letters of Credit such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding participations hereunder in Letters of Credit held by each Lender
(including each such Incremental Lender) will equal its Credit Percentage. If, on the date of such increase, there are any Loans outstanding, such Loans shall upon the effectiveness of such Incremental Commitment be prepaid from the proceeds of
additional Loans made hereunder so that the Loans are thereafter held by the Lenders according to their Credit Percentages (after giving effect to the increase in Commitments), which prepayment shall be accompanied by accrued interest on the Loans
being prepaid and any costs incurred by any Lender in accordance with Section 2.15. The Administrative Agent and the Lenders hereby agree that the minimum borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in
this Agreement shall not apply to the transactions effected pursuant to the immediately preceding sentence. 
 Section 2.25. Amend
and Extend Transactions. (a) The Borrower may, by written notice to the Administrative Agent from time to time, request an extension (each, an “Extension”) of the Maturity Date of any Class of Loans and Commitments to the
extended maturity date specified in such notice; provided that in no event shall more than three different maturity dates be applicable to Loans and Commitments hereunder. Such notice shall set forth (i) the amount of the applicable
Class of Commitments to be extended (which shall be in minimum increments of $1,000,000 and a minimum amount 

  
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of $5,000,000), (ii) the date on which such Extension is requested to become effective (which shall be not less than ten (10) Business Days nor more than sixty (60) days after the
date of such Extension (or such longer or shorter periods as the Administrative Agent shall agree)) and (iii) identifying the relevant Class of Commitments to which such Extension relates. Each Lender of the applicable Class shall be offered
(an “Extension Offer”) an opportunity to participate in such Extension on a pro rata basis and on the same terms and conditions as each other Lender of such Class pursuant to procedures established by, or reasonably acceptable to,
the Administrative Agent. If the aggregate principal amount of Commitments (calculated on the face amount thereof) in respect of which Lenders shall have accepted the relevant Extension Offer shall exceed the maximum aggregate principal amount of
Commitments requested to be extended by the Borrower pursuant to such Extension Offer, then the Commitments of Lenders of the applicable Class shall be extended ratably up to such maximum amount based on the respective principal amounts (but not to
exceed actual holdings of record) with respect to which such Lenders have accepted such Extension Offer. 
 (b) It shall be a condition
precedent to the effectiveness of any Extension that (i) no Default or Event of Default shall have occurred and be continuing immediately prior to and immediately after giving effect to such Extension, (ii) the representations and
warranties set forth in Article 3 and in each other Loan Document shall be true and correct in all material respects on and as of the date of such Extension, (iii) the Issuing Bank shall have consented to any Extension, to the extent that such
Extension provides for the issuance of Letters of Credit at any time during the extended period and (iv) the terms of such Extended Commitments shall comply with Section 2.25(c). 

(c) The terms of each Extension shall be determined by the Borrower and the applicable extending Lender and set forth in an Additional Credit
Extension Amendment; provided that (i) the final maturity date of any Extended Commitment shall be no earlier than the Maturity Date, (ii) there shall be no scheduled amortization of the Extended Commitments, (iii) the Extended
Loans will rank pari passu (or more junior) in right of payment and with respect to security with the existing Loans and the borrower and guarantors of the Extended Commitments shall be the same as the borrower and guarantors with respect to the
existing Loans, (iv) the interest rate margin, rate floors, fees, original issue discounts and premiums applicable to any Extended Commitment (and the Extended Loans thereunder) shall be determined by the Borrower and the applicable extending
Lender and (v) to the extent the terms of the Extended Commitments are inconsistent with the terms set forth herein (except as set forth in clause (i) through (iv) above), such terms shall be reasonably satisfactory to the
Administrative Agent. 
 (d) In connection with any Extension, the Borrower, the Administrative Agent and each applicable extending Lender
shall execute and deliver to the Administrative Agent an Additional Credit Extension Amendment and such other documentation as the Administrative Agent shall reasonably specify to evidence the Extension. The Administrative Agent shall promptly
notify each Lender as to the effectiveness of each Extension. Any Additional Credit Extension Amendment may, without the consent of any other Lender, effect such amendments to this Agreement and the other Loan

  
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Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to implement the terms of any such Extension Offer, including any amendments
necessary to establish Extended Commitments as a new Class or tranche of Commitments and such other technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection with the
establishment of such new Class or tranche (including to preserve the pro rata treatment of the extended and non-extended Classes or tranches and to provide for the reallocation of L/C Exposure upon the expiration or termination of the commitments
under any Class or tranche), in each case on terms consistent with this Section 2.25). 
 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Administrative Agent, the Collateral Agent, the Issuing Bank and each of the Lenders on the
Closing Date and on each other date contemplated by Article 4 that: 
 Section 3.01. Organization; Powers. The Borrower and each
of the Restricted Subsidiaries (a) is duly organized and/or established, as the case may be, validly existing and in good standing under the laws of the jurisdiction of its organization or establishment, as applicable, (b) has all
requisite power and authority to own its material property and assets and to carry on its business as now conducted and as proposed to be conducted, (c) is qualified to do business in, and is in good standing in, every jurisdiction where such
qualification is required, except where the failure so to qualify could not reasonably be expected to result in a Material Adverse Effect, and (d) has the power and authority to execute, deliver and perform its obligations under each of the
Loan Documents and each other agreement or instrument contemplated thereby to which it is or will be a party and, in the case of the Borrower, to borrow hereunder. 

Section 3.02. Authorization. The Transactions (a) have been duly authorized by all requisite corporate and, if required,
stockholder action of the Borrower and each other Loan Party and (b) will not (i) violate (A) any provision of law, statute, rule or regulation, or of the certificate or articles of incorporation, partnership agreement or other
constitutive documents or by-laws of the Borrower or any Restricted Subsidiary, (B) any order of any Governmental Authority or (C) any provision of any indenture, agreement or other instrument to which the Borrower or any Restricted
Subsidiary is a party or by which any of them or any of their property is or may be bound, (ii) be in conflict with, result in a breach of or constitute (alone or with the giving of notice or lapse of time or both) a default under, or give rise
to any right to accelerate or to require the prepayment, repurchase or redemption of any obligation under any such indenture, agreement or other instrument or (iii) result in the creation or imposition of any Lien upon or with respect to any
property or assets now owned or hereafter acquired by the Borrower or any Restricted Subsidiary (other than any Lien created hereunder or under the Security Documents). 

  
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 Section 3.03. Enforceability. This Agreement has been duly executed and delivered by
the Borrower and constitutes, and each other Loan Document when executed and delivered by each Loan Party thereto will constitute, a legal, valid and binding obligation of such Loan Party enforceable against such Loan Party in accordance with its
terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally and subject to general principles of equity. 

Section 3.04. Governmental Approvals. No action, consent or approval of, registration or filing with or any other action by any
Governmental Authority or third party is or will be required in connection with the Transactions, except for (a) the filing of Uniform Commercial Code financing statements and filings with the United States Patent and Trademark Office and the
United States Copyright Office, (b) recordation of the Mortgages and (c) such as have been made or obtained and are in full force and effect. 

Section 3.05. Financial Statements. The Borrower has, heretofore, delivered to the Lenders (a) the consolidated balance
sheets and related statements of income, stockholder’s equity and cash flows of the Borrower and its consolidated Subsidiaries as of and for (i) the fiscal years ended December 31, 2011 and January 31, 2013, audited by and
accompanied by the opinion of Ernst & Young LLP, independent public accountants, and (ii) the fiscal quarter and the portion of the fiscal year ended April 30, 2013, unaudited and certified by its chief financial officer and
(b) consolidated statements of income, stockholder’s equity and cash flows of the Borrower and its consolidated Subsidiaries as and for the period from January 1, 2012 through and including January 31, 2012, audited by and
accompanied by the opinion of Ernst & Young LLP, independent public accountants. Such financial statements present fairly in all material respects the financial condition and results of operations and cash flows of the Borrower and its
consolidated Subsidiaries as of such dates and for such periods. Such balance sheets and the notes thereto disclose all material liabilities, direct or contingent, of the Borrower and its consolidated Subsidiaries as of the dates thereof that are
required to be disclosed on financial statements prepared in accordance with GAAP. Such financial statements were prepared in accordance with GAAP applied on a consistent basis, subject, in the case of unaudited financial statements, to year-end
audit adjustments and the absence of footnotes. 
 Section 3.06. No Material Adverse Effect. No event or circumstance has
occurred that has had, or could reasonably be expected to have, a Material Adverse Effect. 
 Section 3.07. Title to
Properties; Possession under Leases. (a) Each of the Borrower and the Restricted Subsidiaries has good and marketable title to, valid leasehold interests in, or easements, licenses or other limited property interests in, all its properties
that are necessary for the operation of their respective businesses as currently conducted and as proposed to be conducted, free and clear of all Liens (other than Liens permitted by Section 6.02). 

  
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 (b) Each of the Borrower and the Restricted Subsidiaries has complied with all obligations under
all material leases to which it is a party and all such leases are in full force and effect. To the Borrower’s knowledge, each of the Borrower and the Restricted Subsidiaries enjoys peaceful and undisturbed possession under all such material
leases. 
 (c) As of the Closing Date, (i) no real property or other assets material to the Borrower and its Restricted Subsidiaries is
affected by any fire or other casualty (whether or not covered by insurance) and (ii) the Borrower has not received any notice of, nor has any knowledge of, any pending or contemplated condemnation proceeding (or any sale or disposition thereof
in lieu of condemnation) affecting any real property or other assets material to the Borrower or its Restricted Subsidiaries. 

Section 3.08. Subsidiaries. Schedule 3.08 sets forth as of the Closing Date a list of all Subsidiaries and the percentage
ownership interest of the Borrower therein. The shares of capital stock or other ownership interests so indicated on Schedule 3.08 are fully paid and nonassessable and are owned by the Borrower, directly or indirectly, free and clear of all
Liens (other than Liens created under the Security Documents and nonconsensual Liens permitted by Section 6.02). 
 Section 3.09.
Litigation; Compliance with Laws. (a) There are no actions, suits or proceedings at law or in equity or by or before any Governmental Authority now pending or, to the knowledge of the Borrower, threatened against or affecting the
Borrower or any Restricted Subsidiary or any business, property or rights of any such Person (i) that involve any Loan Document or the Transactions or (ii) that could reasonably be expected, individually or in the aggregate, to result in a
Material Adverse Effect. 
 (b) None of the Borrower or any of the Restricted Subsidiaries or any of their respective material properties or
assets is in violation of, nor will the continued operation of their material properties and assets as currently conducted violate, any law, rule or regulation (including any zoning, building, Environmental Law, ordinance, code or approval or any
building permits) or any restrictions of record or agreements affecting the Mortgaged Property, or is in default with respect to any judgment, writ, injunction, decree or order of any Governmental Authority, where, in each case, such violation or
default has resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c) Certificates of occupancy and permits
are in effect for each Mortgaged Property as currently constructed, and true and complete copies of such certificates of occupancy have been delivered to the Collateral Agent as mortgagee with respect to each Mortgaged Property. 

Section 3.10. Agreements. (a) None of the Borrower or any of the Restricted Subsidiaries is a party to any agreement or
instrument or subject to any corporate restriction that has resulted or could reasonably be expected to result in a Material Adverse Effect. 

(b) None of the Borrower or any of the Restricted Subsidiaries is in default in any manner under any provision of any indenture or other
agreement or instrument evidencing Indebtedness, or any other material agreement or instrument to which it is a party or by which it or any of its properties or assets are or may be bound, where such default has resulted or could reasonably be
expected to result in a Material Adverse Effect. 

  
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 Section 3.11. Federal Reserve Regulations. (a) None of the Borrower or any of
the Restricted Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock. 

(b) No part of the proceeds of any Loan or any Letter of Credit will be used, whether directly or indirectly, and whether immediately,
incidentally or ultimately, for any purpose that entails a violation of, or that is inconsistent with, the provisions of the regulations of the Board, including Regulation T, U or X. 

Section 3.12. Investment Company Act. None of the Borrower or any Restricted Subsidiary is required to register as an
“investment company,” as defined in the Investment Company Act. 
 Section 3.13. Use of Proceeds. The Borrower
will use the proceeds of the Loans (other than Incremental Loans) and will request the issuance of Letters of Credit only for the purposes specified in the introductory statement to this Agreement. 

Section 3.14. Taxes. Each of the Borrower and the Restricted Subsidiaries has filed or caused to be filed all U.S. federal, state,
local and foreign tax returns or materials required to have been filed by it and has paid or caused to be paid all Taxes due and payable by it and all assessments received by it, except Taxes that are being contested in good faith by appropriate
proceedings and for which the Borrower or the applicable Restricted Subsidiary, as applicable, shall have set aside on its books adequate reserves. 

Section 3.15. No Material Misstatements. No information, report, financial statement, exhibit or schedule furnished by or on
behalf of the Borrower to the Administrative Agent or any Lender, taken as a whole, in connection with the negotiation of any Loan Document or included therein or delivered pursuant thereto contained any material misstatement of fact or omitted, as
of the date so furnished, to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading; provided that, to the extent any such information, report,
financial statement, exhibit or schedule was based upon or constitutes a forecast or projection, the Borrower represents and warrants only that it acted in good faith and utilized reasonable assumptions (based upon accounting principles consistent
with the historical audited financial statements of the Borrower) and due care in the preparation of such information, report, financial statement, exhibit or schedule. 

Section 3.16. Employee Benefit Plans. 

(a) With respect to each employee benefit plan as defined in Section 3(3) of ERISA, the Borrower, the Restricted Subsidiaries and their
respective ERISA Affiliates 

  
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are in compliance with the applicable provisions of ERISA and the Code and the regulations and published interpretations thereunder, except where the failure to so comply could not reasonably be
expected to result in a Material Adverse Effect. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events, has resulted or could reasonably be expected to result in a Material Adverse
Effect. There exists no Unfunded Pension Liability with respect to any Plans that could reasonably be expected to result in a Material Adverse Effect. 

(b) Each Foreign Pension Plan is in compliance with all requirements of law applicable thereto and the respective requirements of the
governing documents for such plan, except where the failure to so comply could not reasonably be expected to result in a Material Adverse Effect. With respect to each Foreign Pension Plan, none of the Borrower, any Subsidiaries or any of their
respective directors, officers, employees or agents has engaged in a transaction which would subject the Borrower or any Subsidiary, directly or indirectly, to a tax or civil penalty which has resulted or could reasonably be expected, individually
or in the aggregate, to result in a Material Adverse Effect. With respect to each Foreign Pension Plan, reserves have been established in the financial statements furnished to Lenders in respect of any unfunded liabilities in accordance with
applicable law and prudent business practice or, where required, in accordance with ordinary accounting practices in the jurisdiction in which such Foreign Pension Plan is maintained. The aggregate unfunded liabilities with respect to such Foreign
Pension Plans has not resulted or could not reasonably be expected to result in a Material Adverse Effect; the present value of the aggregate accumulated benefit liabilities of all such Foreign Pension Plans (based on those assumptions used to fund
each such Foreign Pension Plan) did not, as of the last annual valuation date applicable thereto, exceed by more than $5,000,000 the fair market value of the assets of all such Foreign Pension Plans. 

Section 3.17. Environmental Matters. (a) Except with respect to any matters that, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect, none of the Borrower or any of the Restricted Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other
approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental
Liability. 
 (b) Except with respect to any matters that, individually or in the aggregate, could not reasonably be expected to result in a
Material Adverse Effect: (i) each Mortgaged Property is and has been in compliance with all Environmental Law and has obtained, maintained and complied with any permit, license or other approval required under any Environmental Law,
(ii) there are no Environmental Liabilities that have arisen or exist in connection with or in any way relating to any of the Mortgaged Property and (iii) none of the Borrower or any of the Subsidiaries knows of any basis for any
Environmental Liability in connection with or in any way relating to any of the Mortgaged Property. 

  
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 (c) There has been no environmental investigation, study, audit, test, review or other analysis
conducted that is within the possession, custody or control of the Borrower or any of the Subsidiaries in relation to the current or prior business the Borrower or any Subsidiary or any property or facility now or previously owned, leased or
operated by the Borrower or any Subsidiary, including the Mortgaged Properties, which has not been delivered to the Lenders at least five days prior to the date hereof. 

(d) For purposes of this Section, the terms “Borrower” and “Restricted Subsidiary” shall include any
business or business entity which is, in whole or in part, a predecessor of the Borrower or any Restricted Subsidiary. 
 Section 3.18.
Insurance. Schedule 3.18 sets forth a true, complete and correct description of all insurance maintained by the Borrower or by the Borrower for its Restricted Subsidiaries as of the Closing Date. As of such date, such insurance is in
full force and effect and all premiums have been duly paid. The Borrower and its Restricted Subsidiaries have insurance in such amounts and covering such risks and liabilities as are in accordance with normal industry practice. 

Section 3.19. Security Documents. (a) The Guarantee and Collateral Agreement, upon execution and delivery thereof by the
parties thereto, will create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral and the proceeds thereof and (i) when the Collateral that is
required to be delivered to the Collateral Agent pursuant to the Guarantee and Collateral Agreement is so delivered, the Lien created under Guarantee and Collateral Agreement shall constitute a fully perfected first priority Lien on, and security
interest in, all right, title and interest of the Loan Parties in such Collateral, in each case prior and superior in right to any other Person, to the extent a Lien on such Collateral may be perfected by possession, and (ii) when the financing
statements in appropriate form are filed in the offices specified on Schedule 3.19(a), the Lien created under the Guarantee and Collateral Agreement will constitute a fully perfected Lien on, and security interest in, all right, title and
interest of the Loan Parties in the Collateral described in such statements (other than Intellectual Property), in each case prior and superior in right to any other Person, in each case, to the extent a lien on such Collateral may be perfected by
filing a financing statement, other than with respect to Liens expressly permitted by Section 6.02. 
 (b) Upon the recordation of the
Guarantee and Collateral Agreement (or a short-form security agreement in form and substance reasonably satisfactory to the Borrower and the Collateral Agent) with the United States Patent and Trademark Office and the United States Copyright Office,
together with the financing statements in appropriate form filed in the offices specified on Schedule 3.19(a), the Lien created under the Guarantee and Collateral Agreement shall constitute a fully perfected Lien on, and security interest in,
all right, title and interest of the Loan Parties in the Intellectual Property in which a security interest may be perfected by filing in the United States and its territories and possessions, in each case prior and superior in right to any other
Person, other than with respect to Liens expressly permitted by Section 6.02 (it being understood that subsequent recordings in the United States Patent and Trademark Office and the 

  
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United States Copyright Office may be necessary to perfect a Lien on registered trademarks and patents, trademark and patent applications and registered copyrights acquired by the Loan Parties
after the date hereof). 
 (c) Each Mortgage is effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured
Parties, a legal, valid and enforceable first priority Lien on all of the applicable Loan Party’s right, title and interest in and to the Mortgaged Property thereunder and the proceeds thereof, and when such Mortgage is filed in the office
notified in writing by the Borrower to the Collateral Agent, such Mortgage shall constitute a fully perfected first priority Lien on, and security interest in, all right, title and interest of such Loan Party in such Mortgaged Property and the
proceeds thereof, in each case prior and superior in right to any other Person, other than with respect to Liens expressly permitted by Section 6.02. 

Section 3.20. Location of Real Property and Leased Premises. (a) Schedule 3.20(a) lists completely and correctly as of
the Closing Date all real property owned by the Borrower and the Restricted Subsidiaries and the addresses thereof. 
 (b)
Schedule 3.20(b) lists completely and correctly as of the Closing Date each parcel of real property leased, subleased, licensed or sublicensed by the Borrower and the Restricted Subsidiaries, the address and the owner thereof, and the
expiration date of the related lease, sublease, license or sublicense. 
 Section 3.21. Intellectual Property. The Borrower and
each Restricted Subsidiary owns or is licensed to use all of its Intellectual Property material to its respective business, and neither the use thereof nor the conduct of their respective businesses infringes, misappropriates or otherwise violates
the Intellectual Property rights of any other Person, except for any such infringements, misappropriations and other violations that could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. 

Section 3.22. Labor Matters. As of the Closing Date, there are no strikes, lockouts or slowdowns against the Borrower or any
Restricted Subsidiary pending or, to the knowledge of the Borrower, threatened. The hours worked by and payments made to employees of the Borrower and the Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any
other applicable Federal, state, local or foreign law dealing with such matters except where such violation could not reasonably be expected to have a Material Adverse Effect. All payments due from the Borrower or any Restricted Subsidiary, or for
which any claim may be made against the Borrower or any Restricted Subsidiary, on account of wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability on the books of the Borrower or such Restricted
Subsidiary in all material respects. The consummation of the Transactions will not give rise to any right of termination or right of renegotiation on the part of any union under any collective bargaining agreement to which the Borrower or any
Restricted Subsidiary is bound. 

  
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 Section 3.23. Solvency. Immediately after the consummation of the Transactions to
occur on the Closing Date and after giving effect to each Credit Event, the Borrower and its Restricted Subsidiaries, taken as a whole, are Solvent. 

Section 3.24. Sanctioned Persons. None of the Borrower or any Subsidiary nor, to the knowledge of the Borrower, any director,
officer, agent, employee or Affiliate of the Borrower or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”); and the Borrower will
not directly or indirectly use the proceeds of the Loans or the Letters of Credit or otherwise make available such proceeds to any Person, for the purpose of financing the activities of any Person currently subject to any U.S. sanctions administered
by OFAC. 
 Section 3.25. Foreign Corrupt Practices Act. Each of the Borrower, the Subsidiaries and their respective directors,
officers, agents, employees, and any person acting for or on behalf of the Borrower or such Subsidiaries has complied with, and will comply with, the U.S. Foreign Corrupt Practices Act, as amended from time to time, or any other applicable
anti-bribery or anti-corruption law, and it and they have not made, offered, promised, or authorized, and will not make, offer, promise, or authorize, whether directly or indirectly, any payment, of anything of value to: (a) an executive,
official, employee or agent of a governmental department, agency or instrumentality, (b) a director, officer, employee or agent of a wholly or partially government-owned or government-controlled company or business, (c) a political party
or official thereof, or candidate for political office or (d) an executive, official, employee or agent of a public international organization (e.g., the International Monetary Fund or the World Bank) (“Government Official”);
while knowing or having a reasonable belief that all or some portion will be used for the purpose of: (i) influencing any act, decision or failure to act by a Government Official in his or her official capacity, (ii) inducing a Government
Official to use his or her influence with a government or instrumentality to affect any act or decision of such government or entity or (iii) securing an improper advantage; in order to obtain, retain, or direct business. 

Section 3.26. Anti-Terrorism Law. Neither the Borrower nor any of the Subsidiaries is in violation of any legal requirement
relating to any laws with respect to terrorism or money laundering (“Anti-Terrorism Laws”), including Executive Order No. 13224 on Terrorist Financing effective September 24, 2001 (the “Executive Order”)
and the USA PATRIOT Act. 
 ARTICLE 4 

CONDITIONS OF LENDING 

The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder are subject to the satisfaction of
the following conditions: 
 Section 4.01. All Credit Events. On the date of each Borrowing (other than a conversion or a
continuation of a Borrowing) and on the date of each issuance, amendment, extension or renewal of a Letter of Credit (each such event being called a “Credit Event”): 

(a) The Administrative Agent shall have received a notice of such Borrowing as required by Section 2.03 (or such notice shall have been
deemed given in accordance with Section 2.02) or in the case of the issuance, amendment, extension or renewal of a Letter of Credit, the Issuing Bank and the Administrative Agent shall have received a notice requesting the issuance, amendment,
extension or renewal of such Letter of Credit as required by Section 2.21(b). 

  
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 (b) The representations and warranties set forth in Article 3 and in each other Loan Document
shall be true and correct in all material respects on and as of the date of such Credit Event with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date.

 (c) At the time of and immediately after such Credit Event, no Default or Event of Default shall have occurred and be continuing. 

(d) Immediately after such Credit Event, Liquidity shall equal or exceed $30,000,000. 

(e) Immediately after such Credit Event (other than the issuance, amendment, extension or renewal of a Letter of Credit) and the use of
proceeds thereof, the aggregate amount of cash and Permitted Investments of the Borrower and the Subsidiaries shall not exceed (i) $40,000,000 plus (ii) if the Borrower issues any Qualified Capital Stock on or after August 1,
2013 to investors in transactions not involving a public offering, the lesser of (x) 50% of the net cash proceeds to the Borrower of such issuances and (y) $15,000,000; provided that if after such Credit Event the amount of cash and
Permitted Investments of the Borrower and the Subsidiaries exceeds such amount solely as a result of compliance with the minimum borrowing amounts set forth in Section 2.02(a), then the Borrower shall be deemed to be in compliance with this
clause (e) notwithstanding such excess. 
 The delivery of each Borrowing Request shall be deemed to constitute a representation and
warranty by the Borrower on the date of such Credit Event as to the matters specified in paragraphs (b), (c), (d) and (e) of this Section 4.01. 

Section 4.02. First Credit Event. On the Closing Date: 

(a) The Administrative Agent shall have received, on behalf of itself and the Lenders, a favorable written opinion of Perkins Coie LLP,
counsel for the Borrower, in form and substance reasonably satisfactory to the Administrative Agent (i) dated the Closing Date, (ii) addressed to the Administrative Agent and the Lenders and (iii) covering such other matters relating
to the Loan Documents and the Transactions as the Administrative Agent shall reasonably request, and the Borrower hereby requests such counsel to deliver such opinions. 

  
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 (b) The Administrative Agent shall have received (i) a copy of the certificate or articles
of incorporation (or comparable organizational document), including all amendments thereto, of each Loan Party, certified as of a recent date by the Secretary of State (or comparable entity) of the jurisdiction of its organization, and a certificate
as to the good standing (where such concept is applicable) of each Loan Party as of a recent date, from such Secretary of State (or comparable entity), (ii) a certificate of the Secretary or Assistant Secretary of each Loan Party dated the
Closing Date and certifying (A) that attached thereto is a true and complete copy of the by-laws of such Loan Party as in effect on the Closing Date and at all times since a date prior to the date of the resolutions described in clause
(B) below, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors (or comparable governing body) of such Loan Party authorizing the execution, delivery and performance of the Loan
Documents to which such Loan Party is a party and, in the case of the Borrower, the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended and are in full force and effect, (C) that the certificate or
articles of incorporation (or comparable organizational document) of such Loan Party have not been amended since the date of the last amendment thereto shown on the certificate of good standing furnished pursuant to clause (i) above and
(D) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection herewith on behalf of such Loan Party; and (iii) a certificate of another officer as to the
incumbency and specimen signature of the Secretary or Assistant Secretary executing the certificate pursuant to clause (ii) above. 

(c) The Administrative Agent shall have received a certificate, dated the Closing Date and signed by a Responsible Officer of the Borrower,
confirming compliance with the conditions precedent set forth in Section 4.01 and this Section 4.02. 
 (d) The Administrative
Agent shall have received all Fees, all fees payable under the Engagement Letter and all other amounts due and payable on or prior to the Closing Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses
required to be reimbursed or paid by the Borrower hereunder or under any other Loan Document. 
 (e) The Administrative Agent shall have
received duly executed counterparts of this Agreement from each party hereto. 
 (f) (i) the Administrative Agent shall have received duly
executed counterparts of each Security Document from each party thereto and (ii) the Security Documents shall be in full force and effect on the Closing Date and the Collateral Agent on behalf of the Secured Parties shall have a perfected
security interest in the Collateral of the type and priority described in each Security Document. 
 (g) The Collateral Agent shall have
received a Perfection Certificate with respect to the Loan Parties dated the Closing Date and duly executed by a Responsible Officer of the Borrower, and shall have received the results of a search of the Uniform Commercial Code filings (or
equivalent filings) made with respect to the Loan Parties in the states (or other jurisdictions) of formation of such Persons, in each case as indicated 

  
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on such Perfection Certificate, together with copies of the financing statements (or similar documents) disclosed by such search, and accompanied by evidence satisfactory to the Collateral Agent
that the Liens indicated in any such financing statement (or similar document) would be permitted under Section 6.02 or have been or will be contemporaneously released or terminated. 

(h) The Administrative Agent shall have received a copy of, or a certificate as to coverage under, the insurance policies required by
Section 5.02 and the applicable provisions of the Security Documents, each of which shall be endorsed or otherwise amended to include a customary lender’s loss payable endorsement and to name the Collateral Agent as additional insured, in
form and substance satisfactory to the Administrative Agent. 
 (i) All principal, premium, if any, interest, fees and other amounts due or
outstanding under the Existing Debt shall have been or will be, substantially simultaneously with the Closing Date, paid in full, the commitments thereunder terminated and all guarantees and security in support thereof discharged and released and
the Administrative Agent shall have received reasonably satisfactory evidence thereof. Immediately after giving effect to the Transactions and the other transactions contemplated hereby, the Borrower and the Subsidiaries shall have outstanding no
Indebtedness or preferred stock other than (i) Indebtedness outstanding under this Agreement and (ii) Indebtedness set forth on Schedule 6.01(a). 

(j) The Lenders shall have received the financial statements and opinion referred to in Section 3.05, which financial statements shall
not be in a form materially inconsistent with the financial statements or forecasts previously provided to the Administrative Agent. 
 (k)
The Administrative Agent shall have received a certificate from the chief financial officer of the Borrower certifying that the Borrower and its Restricted Subsidiaries, on a consolidated basis, after giving effect to the Transactions to occur on
the Closing Date, are Solvent. 
 (l) All requisite Governmental Authorities and third parties shall have approved or consented to the
Transactions and the other transactions contemplated hereby to the extent required, all applicable appeal periods shall have expired and there shall not be any pending or threatened litigation, governmental, administrative or judicial action that
has resulted or could reasonably be expected to restrain, prevent or impose burdensome conditions on the Transactions or the other transactions contemplated hereby. 

(m) The Lenders shall have received, at least three (3) Business Days prior to the Closing Date, to the extent requested, all
documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act. 

  
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 ARTICLE 5 

AFFIRMATIVE COVENANTS 

The Borrower covenants and agrees with each Lender that so long as this Agreement shall remain in effect and until the Commitments have been
terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable under any Loan Document shall have been paid in full and all Letters of Credit have been canceled or have expired and all amounts drawn
thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent in writing, the Borrower will, and will cause each of the Restricted Subsidiaries to: 

Section 5.01. Existence; Compliance with Laws; Businesses and Properties. (a) Do or cause to be done all things necessary to
preserve, renew and keep in full force and effect its legal existence, except as otherwise expressly permitted under Section 6.05. 

(b) Do or cause to be done all things necessary to obtain, preserve, renew, extend and keep in full force and effect the rights, licenses,
permits, franchises, authorizations and Intellectual Property material to the conduct of its business; maintain and operate such business in substantially the manner in which it is presently conducted and operated and comply in all material respects
with all applicable laws, rules, regulations and decrees and orders of any Governmental Authority, whether now in effect or hereafter enacted, in each case, except to the extent any such right and/or Intellectual Property is no longer used or useful
in the conduct of the Borrower’s business. 
 (c) (i) Maintain, preserve, and protect all of its material properties and equipment
necessary in the operation of its business in good working order, repair and condition (ordinary wear and tear, casualty or condemnation excepted), (ii) make all necessary renewals, repairs, replacements, modifications, improvements, upgrades,
extensions and additions thereof or thereto in accordance with prudent industry practice in order that the business carried on in connection therewith may be properly conducted at all times and (iii) keep all material leases to which it is a
party in full force and effect, in each case, except to the extent any such equipment is no longer used or useful in the conduct of the Borrower’s business. 

Section 5.02. Insurance. (a) Keep its insurable properties adequately insured at all times by financially sound and reputable
insurers; maintain such other insurance, to such extent and against such risks, including fire and other risks insured against by extended coverage, as is customary with companies in the same or similar businesses operating in the same or similar
locations, including public liability insurance against claims for personal injury or death or property damage occurring upon, in, about or in connection with the use of any properties owned, occupied or controlled by it and maintain such other
insurance as may be required by law. 
 (b) Cause all such policies covering any Collateral to be endorsed or otherwise amended to include a
customary lender’s loss payable endorsement, in form and substance reasonably satisfactory to the Administrative Agent and the Collateral Agent, which endorsement shall provide that, from and after the Closing Date, if the

  
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insurance carrier shall have received written notice from the Administrative Agent or the Collateral Agent of the occurrence of an Event of Default, the insurance carrier shall pay all proceeds
otherwise payable to the Borrower or the Loan Parties under such policies directly to the Collateral Agent; cause all such policies to provide that neither the Borrower, the Administrative Agent, the Collateral Agent nor any other party shall be a
coinsurer thereunder and to contain a “Replacement Cost Endorsement,” without any deduction for depreciation, and such other provisions as the Administrative Agent or the Collateral Agent may reasonably require from time to time to
protect their interests; deliver original or certified copies of all such policies to the Collateral Agent; cause each such policy to provide that it shall not be canceled, modified or not renewed (i) by reason of nonpayment of premium upon not
less than 10 days’ prior written notice thereof by the insurer to the Administrative Agent and the Collateral Agent (giving the Administrative Agent and the Collateral Agent the right to cure defaults in the payment of premiums) or
(ii) for any other reason upon not less than 30 days’ prior written notice thereof by the insurer to the Administrative Agent and the Collateral Agent and deliver to the Administrative Agent and the Collateral Agent, prior to the
cancellation, modification or nonrenewal of any such policy of insurance, a copy of a renewal or replacement policy (or other evidence of renewal of a policy previously delivered to the Administrative Agent and the Collateral Agent) together with
evidence satisfactory to the Administrative Agent and the Collateral Agent of payment of the premium therefor. 
 (c) If at any time the
area in which the Premises (as defined in the Mortgages) are located is designated (i) a “flood hazard area” in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), obtain
flood insurance, if so requested by any Lender, in such total amount as the Administrative Agent, the Collateral Agent or the Required Lenders may from time to time require and otherwise comply with the NFIP as set forth in the Flood Laws or
(ii) a “Zone 1” area, obtain earthquake insurance in such total amount as the Administrative Agent, the Collateral Agent or the Required Lenders may from time to time require. Following the Closing Date, the Borrower shall
deliver to the Collateral Agent annual renewals of the flood insurance policy or annual renewals of a force-placed flood insurance policy for each Mortgaged Property if flood insurance for such Mortgaged Property was requested by any Lender. In
connection with any amendment to this Agreement pursuant to which any increase, extension, or renewal of Loans is contemplated, the Borrower shall, if requested by any Lender, cause to be delivered to the Collateral Agent for any Mortgaged Property,
a Flood Determination Form, Borrower Notice and Evidence of Flood Insurance, as applicable. 
 (d) With respect to any Mortgaged Property,
carry and maintain comprehensive general liability insurance including the “broad form CGL endorsement” and coverage on an occurrence basis against claims made for personal injury (including bodily injury, death and property damage)
and umbrella liability insurance against any and all claims, in no event for a combined single limit of less than that which is customary for companies in the same or similar businesses operating in the same or similar locations, naming the
Collateral Agent as an additional insured, on forms satisfactory to the Collateral Agent. 

  
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 (e) Notify the Administrative Agent and the Collateral Agent promptly whenever any separate
insurance concurrent in form or contributing in the event of loss with that required to be maintained under this Section 5.02 is taken out by any Loan Party and promptly deliver to the Administrative Agent and the Collateral Agent a duplicate
original copy of such policy or policies. 
 Section 5.03. Obligations and Taxes. Pay its Indebtedness and other obligations
promptly and in accordance with their terms and pay and discharge promptly when due all Taxes, before the same shall become delinquent or in default, as well as all lawful claims for labor, materials and supplies or otherwise that, if unpaid, might
give rise to a Lien upon such properties or any part thereof; provided that such payment and discharge shall not be required with respect to (a) any amounts not exceeding $50,000; and (b) any amounts the validity or amount of which
shall be contested in good faith by appropriate proceedings, the Borrower shall have set aside on its books adequate reserves with respect thereto in accordance with GAAP, such contest operates to suspend collection of the contested obligation, tax,
assessment or charge and enforcement of a Lien and, in the case of a Mortgaged Property, there is no material risk of forfeiture of such property. 

Section 5.04. Financial Statements, Reports, etc. In the case of the Borrower, furnish to the Administrative Agent, which shall
furnish to each Lender (including each Public Lender): 
 (a) within 90 days (or, in the case of the fiscal year ending January 31,
2014, as soon as available but in no event more than 120 days) after the end of each fiscal year, its consolidated balance sheet and related statements of income, stockholders’ equity and cash flows showing the financial condition of the
Borrower and its consolidated Subsidiaries as of the close of such fiscal year and the results of its operations and the operations of such Subsidiaries during such year, together with comparative figures for the immediately preceding fiscal year,
all audited by Ernst & Young LLP or other independent public accountants of recognized national standing and accompanied by an opinion of such accountants (which opinion shall be without a “going concern” or like qualification or
exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements fairly present the financial condition and results of operations of the Borrower and its consolidated
Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, together with a customary “management discussion and analysis” provision; 

(b) within 45 days after the end of each of the first three fiscal quarters of each fiscal year, its consolidated balance sheet and related
statements of income, stockholders’ equity and cash flows showing the financial condition of the Borrower and its consolidated Subsidiaries as of the close of such fiscal quarter and the results of its operations and the operations of such
Subsidiaries during such fiscal quarter and the then elapsed portion of the fiscal year, and comparative figures for the same periods in the immediately preceding fiscal year, all certified by one of its Financial Officers as fairly presenting the
financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments, together with a customary
“management discussion and analysis” provision; 

  
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 (c) concurrently with any delivery of financial statements under paragraph (a) or
(b) above, a certificate of a Financial Officer in the form of Exhibit E (i) certifying that no Event of Default or Default has occurred or, if such an Event of Default or Default has occurred, specifying the nature and extent thereof
and any corrective action taken or proposed to be taken with respect thereto and (ii) attaching an updated Schedule 1.01(c) or certifying that no changes to such schedule are necessary; 

(d) within 30 days after the beginning of each fiscal year of the Borrower, a detailed consolidated budget for such fiscal year (including a
projected consolidated balance sheet and related statements of projected operations and cash flows as of the end of and for such fiscal year and setting forth the assumptions used for purposes of preparing such budget) and, promptly when available,
any significant revisions of such budget; 
 (e) promptly after the same become publicly available, copies of all periodic and other
reports, proxy statements and other materials filed by the Borrower or any Subsidiary with the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national
securities exchange, or distributed to its shareholders, as the case may be; 
 (f) promptly after the receipt thereof by the Borrower or
any of the Subsidiaries, a copy of any “management letter” received by any such Person from its certified public accountants and the management’s response thereto; 

(g) promptly after the request by any Lender, all documentation and other information that such Lender reasonably requests in order to comply
with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act; and 

(h) promptly, from time to time, such other information regarding the operations, business affairs and financial condition of the Borrower or
any Subsidiary, or compliance with the terms of any Loan Document, as the Administrative Agent or any Lender may reasonably request. 

Section 5.05. Litigation and Other Notices. Furnish to the Administrative Agent, the Issuing Bank and each Lender prompt written
notice of the following: 
 (a) any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any)
taken or proposed to be taken with respect thereto; 
 (b) the filing or commencement of, or any written threat or notice of intention of
any Person to file or commence, any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority, against the Borrower or any Affiliate thereof that has resulted or could reasonably be expected to result in a
Material Adverse Effect; and 
 (c) any development that has resulted or could reasonably be expected to result in a Material Adverse
Effect. 

  
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 Section 5.06. Information Regarding Collateral. (a) Furnish to the
Administrative Agent prompt written notice of any change (i) in the corporate name of any Loan Party, (ii) in the jurisdiction of organization or formation of any Loan Party, (iii) in any Loan Party’s identity or corporate
structure or (iv) in any Loan Party’s Federal Taxpayer Identification Number. The Borrower agrees not to effect or permit any change referred to in the preceding sentence unless all filings have been made under the Uniform Commercial Code
or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected security interest in all the Collateral. The Borrower also agrees promptly to notify the
Administrative Agent if any material portion of the Collateral is damaged or destroyed. 
 (b) In the case of the Borrower, each year, at
the time of delivery of the annual financial statements with respect to the preceding fiscal year pursuant to Section 5.04(a), deliver to the Administrative Agent a certificate of a Financial Officer setting forth the information required
pursuant to Section 2 of the Perfection Certificate or confirming that there has been no change in such information since the date of the Perfection Certificate delivered on the Closing Date or the date of the most recent certificate delivered
pursuant to this Section 5.06 
 Section 5.07. Maintaining Records; Access to Properties and Inspections. Keep proper books
of record and account in which full, true and correct entries in conformity with GAAP and all requirements of law are made of all dealings and transactions in relation to its business and activities. Each Loan Party will, and will cause each of its
subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender to visit and inspect the financial records and the properties of such Person at such reasonable times as reasonably requested and to make extracts from
and copies of such financial records, and permit any representatives designated by the Administrative Agent or any Lender to discuss the affairs, finances and condition of such Person with the officers thereof and independent accountants therefor;
provided that, (x) other than during the continuance of an Event of Default, the Administrative Agent and the Lenders, collectively, shall not exercise their rights under this sentence more often than once during any fiscal year and
(y) no Lender shall exercise its rights under this sentence without the prior written consent of the Administrative Agent. 

Section 5.08. Use of Proceeds. Use the proceeds of the Loans and request the issuance of Letters of Credit only for the purposes
specified in the introductory statement to this Agreement. 
 Section 5.09. Employee Benefits. (a) Comply in all material
respects with the provisions of ERISA and the Code applicable to employee benefit plans as defined in Section 3(3) of ERISA and the laws applicable to any Foreign Pension Plan, (b) furnish to the Administrative Agent as soon as possible
after, and in any event within ten days after any responsible officer of the Borrower or any ERISA Affiliate knows or has reason to know that, any ERISA Event has occurred or is reasonably expected to occur that, 

  
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alone or together with any other ERISA Event that has occurred or is reasonably expected to occur that has resulted or could reasonably be expected to result in liability of the Borrower or any
ERISA Affiliate in an aggregate amount exceeding $5,000,000, a statement of a Financial Officer of the Borrower setting forth details as to such ERISA Event and the action, if any, that the Borrower proposes to take with respect thereto and
(c) promptly and in any event within 30 days after the filing thereof with the United States Department of Labor, furnish to the Administrative Agent copies of each Schedule SB (Actuarial Information) to the Annual Report (Form 5500
Series) with respect to each Plan. 
 Section 5.10. Compliance with Environmental Laws. Except where the failure to do so could
not reasonably be expected to result in a Material Adverse Effect, comply, and cause all lessees and any other Person leasing or occupying its properties to comply, with all applicable Environmental Laws; obtain and renew all material environmental
permits necessary for its operations and properties; and conduct any remedial action in accordance with Environmental Laws; provided that none of the Borrower or any Subsidiary shall be required to undertake any remedial action to the extent
that its obligation to do so is being contested by the Borrower or any Subsidiary in good faith and by proper proceedings, appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP and any such delay or
inaction with respect to such remedial action does not violate any Environmental Law. 
 Section 5.11. Preparation of Environmental
Reports. If a Default caused by reason of a breach of Section 3.17 or Section 5.10 shall have occurred and be continuing for more than 20 days without the Borrower or any Subsidiary commencing activities reasonably likely to cure such
Default, at the written request of the Required Lenders through the Administrative Agent, provide to the Lenders within 45 days after such request, at the expense of the Loan Parties, an environmental site assessment report regarding the matters
which are the subject of such Default prepared by an environmental consulting firm reasonably acceptable to the Administrative Agent and the estimated cost of any compliance, remedial action or other corrective action in connection with such
Default. 
 Section 5.12. Further Assurances. (a) Execute any and all further documents, financing statements, agreements
and instruments, and take all further action (including filing Uniform Commercial Code and other financing statements, mortgages and deeds of trust) that may be required under applicable law, or that the Required Lenders, the Administrative Agent or
the Collateral Agent may reasonably request, in order to effectuate the transactions contemplated by the Loan Documents and in order to grant, preserve, protect and perfect the validity and first priority of the security interests created or
intended to be created by the Security Documents. 
 (b) If, following the Closing Date, any wholly-owned Domestic Subsidiary is acquired or
organized (other than any Immaterial Subsidiary), or any Immaterial Subsidiary that is a wholly-owned Domestic Subsidiary ceases to be an Immaterial Subsidiary, the Borrower shall promptly (and in any event within 30 days (or such longer period as
the Collateral Agent shall agree) of such event) (i) notify the Collateral Agent 

  
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thereof, (ii) cause such Subsidiary to become a Loan Party by executing the Guarantee and Collateral Agreement (or a supplement thereto in the form specified therein), (iii) deliver to
the Collateral Agent all certificates or other instruments representing Equity Interests of such Subsidiary, together with stock powers or other instruments of transfer with respect thereto endorsed in blank to the extent required by the Security
Documents, (iv) cause all documents and instruments, including Uniform Commercial Code financing statements and Mortgages (if required under Section 5.12(c)), required by law or reasonably requested by the Collateral Agent to be filed,
registered or recorded to create the Liens intended to be created by the Security Documents and perfect or record such Liens to the extent, and with the priority, required by the Security Documents, to be filed, registered or recorded or delivered
to the Collateral Agent for filing, registration or recording, (v) cause each Loan Party to take all other action required by law, under the Security Documents or reasonably requested by the Collateral Agent to perfect, register and/or record
the Liens granted by it thereunder and (vi) cause to be delivered to the Lenders all such instruments and documents (including legal opinions, title insurance policies (if required under Section 5.12(c)) and lien searches) as the
Collateral Agent shall reasonably request to evidence compliance with this Section 5.12(b). 
 (c) If any fee owned real property
located in the United States having a value in excess of $1,000,000 is acquired by any Loan Party after the Closing Date, the Borrower will notify the Collateral Agent thereof, and, if requested by the Collateral Agent or the Required Lenders, the
Borrower will, no later than 90 days after such acquisition, cause such assets to be subjected to a Lien securing the Obligations and will take such actions as shall be reasonably requested by the Collateral Agent to grant and perfect such Liens,
including the satisfaction of the Real Estate Collateral Requirements, all at the expense of the Borrower. 
 ARTICLE 6 

NEGATIVE COVENANTS 

The Borrower covenants and agrees with each Lender that until the Commitments have been terminated and the principal of and interest on each
Loan, all Fees and all other expenses or amounts payable under any Loan Document have been paid in full and all Letters of Credit have been cancelled or have expired and all amounts drawn thereunder have been reimbursed in full, unless the Required
Lenders shall otherwise consent in writing, the Borrower will not, nor will it cause or permit any of the Restricted Subsidiaries to: 

Section 6.01. Indebtedness. Incur, create, assume or permit to exist any Indebtedness, except: 

(a) Indebtedness existing on the date hereof and set forth on Schedule 6.01(a) and any Permitted Refinancing thereof; 

(b) Indebtedness created hereunder and under the other Loan Documents; 

  
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 (c) intercompany Indebtedness of the Borrower and the Subsidiaries to the extent permitted by
Section 6.04; provided that any such Indebtedness that is owed by a Loan Party to a Subsidiary that is not a Loan Party is subordinated to the Obligations pursuant to an Affiliate Subordination Agreement; 

(d) (i) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition, construction or improvement of any fixed or
capital assets; provided that (A) such Indebtedness is incurred prior to or within 120 days after such acquisition or the completion of such construction or improvement and (B) the aggregate principal amount of Indebtedness
permitted by this Section 6.01(d), when combined with the aggregate principal amount of all Capital Lease Obligations incurred pursuant to Section 6.01(e), shall not exceed $15,000,000 at any time outstanding and (ii) any Permitted
Refinancing of any such Indebtedness; 
 (e) Capital Lease Obligations in an aggregate principal amount, when combined with the aggregate
principal amount of all Indebtedness incurred pursuant to Section 6.01(d), not to exceed $15,000,000 at any time outstanding; 
 (f)
Indebtedness under performance bonds or similar obligations, or with respect to workers’ compensation claims, in each case incurred in the ordinary course of business; 

(g) Indebtedness incurred by Foreign Subsidiaries in an aggregate principal amount not exceeding $5,000,000 at any time outstanding; 

(h) Indebtedness of any Person that becomes a Subsidiary after the date hereof; provided that (i) such Indebtedness exists at the
time such Person becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary, (ii) immediately before and after such Person becomes a Subsidiary, no Default or Event of Default shall have
occurred and be continuing and (iii) the aggregate principal amount of Indebtedness permitted by this Section 6.01(h) shall not exceed $2,500,000 at any time outstanding; 

(i) if (i) at the time of the incurrence thereof and immediately after giving effect thereto no Default or Event of Default shall have
occurred and be continuing, (ii) immediately after giving effect to the incurrence thereof the Borrower is in compliance with the covenant contained in Section 6.11 and (iii) the proceeds thereof are used for working capital purposes
or to finance, in whole or in part, a Permitted Acquisition or other Investment permitted under Section 6.04, other unsecured Indebtedness of the Borrower or the Guarantors that is subordinated to the Obligations on terms reasonably
satisfactory to the Administrative Agent in an aggregate principal amount not exceeding $5,000,000 at any time outstanding; 
 (j)
Guarantees in respect of Indebtedness permitted under this Section 6.01; provided that (i) no Loan Party shall Guarantee the Indebtedness of any Person that is not a Loan Party unless such Guarantee is permitted by Section 6.04
and (ii) any such Guarantee permitted under this clause (j) of any Indebtedness that is subordinated to the Obligations shall be expressly subordinated to the Obligations on terms not less favorable to the Lenders than the subordination
terms of such other Indebtedness; 

  
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 (k) Indebtedness in respect of Secured Hedging Agreements incurred in the ordinary course of
business and not for speculative purposes; 
 (l) Indebtedness incurred to finance deferred insurance premiums in the ordinary course of
business; 
 (m) Indebtedness in respect of letters of credit or bankers’ acceptances supporting facility leases in an aggregate
principal or face amount not exceeding $7,500,000 at any time outstanding; 
 (n) Indebtedness in respect of overdraft or similar facilities
incurred in the ordinary course of business in connection with deposit accounts; provided that such Indebtedness is extinguished promptly following its incurrence; and 

(o) (x) unsecured Indebtedness incurred by the Borrower in an aggregate principal amount not exceeding $100,000,000 and any Permitted
Refinancing thereof and (y) any unsecured Guarantee by any other Loan Party of the Indebtedness permitted pursuant to clause (x); provided that (i) such Indebtedness (including any Guarantee thereof) shall be subordinated to the
Obligations on terms at least as favorable to the Lenders as those then customary for high yield debt issuances, (ii) at the time of incurrence thereof and immediately after giving effect thereto, no Default or Event of Default shall have
occurred and be continuing, (iii) such Indebtedness shall (A) require no amortization payments, and shall not have a scheduled maturity, prior to the date that is 180 days following the Maturity Date, (B) not have covenants or events
of default that, taken as a whole, are more restrictive than the covenants and events of default included in this Agreement (as determined in good faith by the Borrower), (C) not include any mandatory prepayment, redemption, sinking fund
obligation, repurchase or other provisions requiring the payment of principal that would apply prior to the date that is 180 days following the Maturity Date (other than customary provisions requiring offers to purchase upon asset sales, casualty
events, condemnation events and change of control, and acceleration provisions, in each case, that are customary for high yield debt securities (as determined in good faith by the Borrower)), (D) not include any financial maintenance covenants
and (E) not be Guaranteed by any Person other than by a Loan Party (and then only on an unsecured and subordinated basis as set forth above). 

Section 6.02. Liens. Create, incur, assume or permit to exist any Lien on any property or assets of the Borrower or any Restricted
Subsidiary (including Equity Interests or other securities of any Person, including any Subsidiary) now owned or hereafter acquired by it or on any income or revenues or rights in respect of any thereof, except: 

(a) Liens on property or assets of the Borrower and its Subsidiaries existing on the date hereof and set forth on Schedule 6.02(a);
provided that such Liens shall secure only those obligations which they secure on the date hereof and any Permitted Refinancing thereof; 

  
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 (b) any Lien created under the Loan Documents; 

(c) any Lien existing on any property or asset prior to the acquisition thereof by the Borrower or any Subsidiary or existing on any property
or assets of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary, as the case may be; provided that (i) such Lien is not created in contemplation of or in connection with such
acquisition or such Person becoming a Subsidiary, (ii) such Lien does not apply to any other property or assets of the Borrower or any Subsidiary and (iii) such Lien secures only (x) those obligations which it secures on the date of
such acquisition or the date such Person becomes a Subsidiary, as the case may be and (y) any Permitted Refinancing of such obligations; 

(d) Liens for Taxes not yet due or which are being contested in compliance with Section 5.03; 

(e) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary
course of business and securing obligations that are not due and payable or which are being contested in compliance with Section 5.03; 

(f) pledges and deposits made in the ordinary course of business in compliance with workmen’s compensation, unemployment insurance and
other social security laws or regulations; 
 (g) deposits to secure the performance of bids, trade contracts (other than for Indebtedness),
leases (other than Capital Lease Obligations), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(h) zoning restrictions, easements, rights-of-way, restrictions on use of real property and other similar encumbrances incurred in the
ordinary course of business which, in the aggregate, are not substantial in amount and do not materially detract from the value of the property subject thereto or interfere with the ordinary conduct of the business of the Borrower or any of its
Subsidiaries; 
 (i) security interests in respect of Indebtedness permitted by Section 6.01(d) and 6.01(e); provided that
(i) such security interests are created, and the Indebtedness secured thereby is incurred, within 120 days after such acquisition (or construction), (ii) the Indebtedness secured thereby does not exceed the lesser of the cost or the fair
market value of such fixed or capital assets or improvements at the time of such acquisition (or construction) and (iii) such security interests do not apply to any other property or assets of the Borrower or any Subsidiary; 

(j) judgment Liens securing judgments not constituting an Event of Default under Section 7.01(i); 

  
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 (k) Liens on assets of Foreign Subsidiaries; provided that (i) such Liens do not
extend to, or encumber, assets that constitute Collateral or the Equity Interests of the Borrower or any of the Restricted Subsidiaries and (ii) such Liens extending to the assets of any Foreign Subsidiary secure only Indebtedness incurred by
such Foreign Subsidiary pursuant to Section 6.01(g); 
 (l) to the extent constituting a Lien, any interest or title of a lessor under
any operating lease entered into by the Borrower or any Subsidiary; 
 (m) Liens securing Indebtedness incurred to finance deferred
insurance premiums permitted under Section 6.01(l); provided that such Liens are limited to unearned premiums and dividends or other payments under the applicable insurance policies; 

(n) Liens arising in the ordinary course of business by virtue of any statutory, common law or customary contractual provision relating to
banker’s liens, rights of set-off or similar rights and remedies as to deposit accounts, securities accounts or other funds maintained with a depository institution or securities intermediaries; 

(o) Liens consisting of restricted cash balances not exceeding $5,000,000 at any time to secure merchant credit card processing and similar
services in the ordinary course of business; 
 (p) Liens on cash deposits in respect of rental agreements in the ordinary course of
business; 
 (q) Liens on cash pledged to secure obligations in respect of letters of credit or banker’s acceptances permitted under
Section 6.01(m); and 
 (r) other Liens securing liabilities in an aggregate amount not to exceed $5,000,000 at any time outstanding.

 Section 6.03. Sale and Lease-Back Transactions. Enter into any arrangement, directly or indirectly, with any Person whereby
it shall sell or transfer any property, real or personal, used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease such property or other property which it intends to use for substantially the same
purpose or purposes as the property being sold or transferred unless (a) the sale or transfer of such property is permitted by Section 6.06 and (b) any Capital Lease Obligations or Liens arising in connection therewith are permitted
by Sections 6.01 and 6.02, as the case may be. 
 Section 6.04. Investments, Loans and Advances. Purchase, hold or acquire
any Investment in a Person except: 
 (a) (i) Investments by the Borrower and the Subsidiaries existing on the date hereof in the Equity
Interests of the Subsidiaries and (ii) additional Investments by the Borrower and the Subsidiaries in the Equity Interests of the Subsidiaries; provided that (A) any such Investment in the form of Equity Interests held by a Loan Party
shall be 

  
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pledged pursuant to the Guarantee and Collateral Agreement (subject to any limitations applicable to voting stock of a Foreign Subsidiary referred to therein), (B) no part of any such
Investment by a Loan Party to a non-Loan Party shall take the form of a contribution of Intellectual Property (other than any contribution or transfer to a Foreign Subsidiary of Intellectual Property that is necessary to, or useful in, the business
of such Foreign Subsidiary pursuant to the Management and Services Agreement or the Cost Sharing Agreement) and (C) the aggregate amount of Investments by the Loan Parties in Subsidiaries that are not Loan Parties (determined without regard to
any write-downs or write-offs of such Investments) shall not exceed $50,000,000; 
 (b) Permitted Investments; 

(c) loans or advances made by the Borrower to any Subsidiary and made by the Borrower or any Subsidiary to the Borrower or any other
Subsidiary; provided that (i) any such loans and advances made by a Loan Party shall be evidenced by a promissory note pledged to the Collateral Agent for the ratable benefit of the Secured Parties pursuant to the Guarantee and
Collateral Agreement, (ii) such loans and advances shall be unsecured and, to the extent owed by a Loan Party to a Person that is not a Loan Party, subordinated to the Obligations pursuant to an Affiliate Subordination Agreement and
(iii) the amount of such loans and advances made by Loan Parties to Subsidiaries that are not Loan Parties shall be subject to the limitation set forth in clause (a) above; 

(d) Investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with,
customers and suppliers, in each case in the ordinary course of business; 
 (e) the Borrower and the Subsidiaries may make loans and
advances in the ordinary course of business in accordance with their usual practice to their respective employees so long as the aggregate principal amount thereof at any time outstanding (determined without regard to any write-downs or write-offs
of such loans and advances) shall not exceed $2,500,000; 
 (f) the Borrower and the Subsidiaries may enter into Secured Hedging Agreements
that are entered into the ordinary course of business and not for speculative purposes; 
 (g) the Borrower or any Subsidiary may acquire
all or substantially all the assets of a Person or line of business of such Person or not less than 100% of the Equity Interests of a Person whether by merger or otherwise (referred to herein as the “Acquired Entity”);
provided that (i) such acquisition was not preceded by an unsolicited tender offer for such Equity Interests by, or proxy contest initiated by, the Borrower or any Subsidiary; (ii) the Acquired Entity shall be in a similar or
ancillary line of business as that of the Borrower and the Subsidiaries as conducted during the current and most recent calendar year, (iii) at the time of such transaction (A) both before and after giving effect thereto, no Default or
Event of Default shall have occurred and be continuing, (B) after giving effect to such acquisition, the Borrower shall be in compliance with the covenant contained in Section 6.11, (C) the Borrower shall have delivered a certificate of a

  
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Financial Officer, certifying as to the foregoing, in form and substance satisfactory to the Administrative Agent and (D) the Borrower shall comply, and shall cause the Acquired Entity to
comply, with the applicable provisions of Section 5.12 and the Security Documents and (iv) the aggregate amount of consideration expended to acquire Acquired Entities that do not become Loan Parties shall not exceed $5,000,000 in the
aggregate (any acquisition of an Acquired Entity meeting all the criteria of this Section 6.04(g) being referred to herein as a “Permitted Acquisition”); 

(h) Investments constituting non-cash consideration received by the Borrower or any Subsidiary in respect of any Dispositions permitted under
Section 6.06; 
 (i) Investments to the extent that payment for such Investments is made solely with Qualified Capital Stock of the
Borrower in a transaction permitted under Section 6.05; and 
 (j) in addition to Investments permitted by paragraphs (a) through
(i) above, additional Investments by the Borrower and the Subsidiaries so long as the aggregate amount invested, loaned or advanced pursuant to this paragraph (j) (determined without regard to any write-downs or write-offs of such
Investments) does not exceed $5,000,000 in the aggregate. 
 Section 6.05. Mergers and Consolidations. Merge into or consolidate
with any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or substantially all the assets of the Borrower, except
that (i) if at the time thereof and immediately after giving effect thereto no Event of Default or Default shall have occurred and be continuing (x) any Subsidiary may merge into the Borrower in a transaction in which the Borrower is the
surviving corporation, and (y) any Subsidiary may merge into or consolidate with any other Subsidiary (provided that if any party to any such transaction is (1) a Wholly Owned Subsidiary, the surviving entity of such transaction
shall be a Wholly Owned Subsidiary, and (2) a Loan Party, the surviving entity of such transaction shall be a Loan Party; provided, further, that if any such transaction also involves a Subsidiary that is not a Wholly Owned Subsidiary,
such transaction must also be permitted under Section 6.04) and (ii) the Borrower and the Subsidiaries may make Permitted Acquisitions and Dispositions permitted under Section 6.06. 

Section 6.06. Dispositions. Dispose of any property or assets, other than: 

(a) Dispositions of worn-out, obsolete or surplus equipment and property no longer used or useful in the business of the Borrower and its
Subsidiaries, in each case in the ordinary course of business; 
 (b) Dispositions of inventory in the ordinary course of business; 

(c) Dispositions of Permitted Investments; 

(d) Dispositions between and among the Borrower and the Subsidiaries; provided that if the transferor in such a transaction is a Loan
Party, then either (x) the 

  
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transferee must be a Loan Party or (y) the portion of any such Disposition made for less than fair market value and any non-cash consideration received in exchange for such Disposition shall
in each case constitute an Investment in such Subsidiary and must be otherwise permitted hereunder; 
 (e) Dispositions constituting leases
or subleases of any real property or personal property in the ordinary course of business; 
 (f) Dispositions constituting non-exclusive
licenses of intellectual property in the ordinary course of business which do not materially interfere with the business of the Borrower and its Subsidiaries; 

(g) Dispositions resulting from any casualty, taking or condemnation of any property of the Borrower or any Subsidiary; and 

(h) Dispositions not otherwise permitted hereunder; provided that (i) at the time of such Disposition, no Default or Event of
Default shall have occurred and be continuing or would result from such Disposition, (ii) not less than seventy-five percent (75%) of the aggregate sale price from such disposition shall be paid in cash, (iii) the aggregate Net Cash
Proceeds of all Dispositions pursuant to this paragraph (h) shall not exceed $5,000,000 in any fiscal year and (iv) all such Dispositions shall be for at least the fair market value of the assets or property subject to such Disposition.

 Section 6.07. Restricted Payments; Restrictive Agreements. (a) Declare or make, or agree to declare or make, directly or
indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so; except: 
 (i) any Subsidiary
may declare and pay dividends or make other distributions ratably to its equity holders; and 
 (ii) so long as no Event of
Default or Default shall have occurred and be continuing or would result therefrom, the Borrower may repurchase its Equity Interests owned by employees of the Borrower or the Subsidiaries or make payments to employees of the Borrower or the
Subsidiaries upon termination of employment in connection with the exercise of stock options, stock appreciation rights or similar equity incentives or equity based incentives pursuant to management incentive plans or in connection with the death or
disability of such employees in an aggregate amount not to exceed $2,000,000 in any fiscal year. 
 (b) Enter into, incur or permit to exist
any agreement or other arrangement that prohibits, restricts or imposes any condition upon (i) the ability of the Borrower or any Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets, or (ii) the
ability of any Subsidiary to pay dividends or other distributions with respect to any of its Equity Interests or to make or repay loans or advances to the Borrower or any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other
Subsidiary; provided that (A) the foregoing shall not apply to restrictions and conditions imposed by law or by any Loan Document, (B) the foregoing shall not apply to customary restrictions and conditions contained in agreements
relating to the sale of a 

  
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Subsidiary pending such sale; provided such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (C) the foregoing shall
not apply to restrictions and conditions imposed on any Foreign Subsidiary by the terms of any Indebtedness of such Foreign Subsidiary permitted to be incurred hereunder, (D) clause (i) of the foregoing shall not apply to restrictions or
conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness and (E) clause (i) of the foregoing shall
not apply to customary provisions in leases and other contracts restricting the assignment thereof. 
 Section 6.08. Transactions
with Affiliates. Sell or transfer any property or assets to, or purchase or acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except: 

(a) transactions between or among Loan Parties; 

(b) any Restricted Payment permitted by Section 6.07; and 

(c) transactions permitted under Section 6.04(e), including related security arrangements; and 

(d) the Borrower or any Subsidiary may engage in any of the foregoing transactions in the ordinary course of business at prices and on terms
and conditions not less favorable to the Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties. 

Section 6.09. Business of the Borrower and Subsidiaries. Engage at any time in any business or business activity other than the
business currently conducted by them and business activities reasonably incidental thereto. 
 Section 6.10. Other Indebtedness and
Agreements. (a) Permit (i) any waiver, supplement, modification, amendment, termination or release of any indenture, instrument or agreement pursuant to which any Material Indebtedness of the Borrower or any of the Subsidiaries is
outstanding if the effect of such waiver, supplement, modification, amendment, termination or release would materially increase the obligations of the obligor or confer additional material rights on the holder of such Indebtedness in a manner
adverse to the Borrower, any of the Subsidiaries or the Lenders or would permit payment thereunder otherwise prohibited by Section 6.10(b) or (ii) any waiver, supplement, modification or amendment of its certificate of incorporation,
by-laws, operating, management or partnership agreement or other organizational documents to the extent any such waiver, supplement, modification or amendment would be adverse to the Lenders in any material respect. 

(b) (i) Make any distribution, whether in cash, property, securities or a combination thereof, in respect of, or pay, or commit to pay, or
directly or indirectly repay, prepay, redeem, repurchase, retire or otherwise acquire for consideration, or set apart any sum for the aforesaid purposes, any Indebtedness except (A) the payment of (x) the Indebtedness created hereunder and
(y) other Indebtedness permitted under 

  
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Section 6.01, other than any Indebtedness incurred pursuant to Section 6.01(o) (provided that any such payment shall be permitted by any provisions pursuant to which such
Indebtedness is subordinated to the Obligations, if applicable), (B) [reserved], (C) Permitted Refinancings of Indebtedness permitted by Section 6.01 and (D) the payment of secured Indebtedness that becomes due as a result of the
voluntary sale or transfer of the property or assets securing such Indebtedness or (ii) pay in cash any amount in respect of any Indebtedness or preferred Equity Interests that may at the obligor’s option be paid in kind or in other
securities. 
 Section 6.11. Minimum Liquidity. Permit Liquidity to be less than $30,000,000 as of the last day of any calendar
month. 
 Section 6.12. Fiscal Year. With respect to the Borrower, change its fiscal year-end to a date other than
January 31. 
 Section 6.13. Certain Equity Securities. Issue any Equity Interest that is not Qualified Capital Stock. 

ARTICLE 7 
 EVENTS
OF DEFAULT 
 Section 7.01. Events of Default. In case of the happening of any of the following
events (“Events of Default”): 
 (a) any representation or warranty made or deemed made in or in connection with any Loan
Document or the borrowings or issuances of Letters of Credit hereunder, or any representation, warranty, statement or information contained in any report, certificate, financial statement or other instrument furnished in connection with or pursuant
to any Loan Document, shall prove to have been false or misleading in any material respect when so made, deemed made or furnished; 
 (b)
default shall be made in the payment of any principal of any Loan or the reimbursement with respect to any L/C Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof
or by acceleration thereof or otherwise; 
 (c) default shall be made in the payment of any interest on any Loan or L/C Disbursement or any
Fee or any other amount (other than an amount referred to in (b) above) due under any Loan Document, when and as the same shall become due and payable, and such default shall continue unremedied for a period of three (3) Business Days;

 (d) default shall be made in the due observance or performance by the Borrower or any Subsidiary of any covenant, condition or agreement
contained in Section 5.01(a), 5.02, 5.05, 5.08 or 5.09 or in Article 6. 
 (e) default shall be made in the due observance or
performance by the Borrower or any Subsidiary of any covenant, condition or agreement contained in any 

  
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Loan Document (other than those specified in (b), (c) or (d) above) and such default shall continue unremedied for a period of 30 days after the notice thereof from the Administrative
Agent to the Borrower (which notice shall also be given at the request of any Lender); 
 (f) (i) the Borrower or any Restricted Subsidiary
shall fail to pay any principal or interest due in respect of any Material Indebtedness, when and as the same shall become due and payable, or (ii) any other event or condition occurs that results in any Material Indebtedness becoming due prior
to its scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material
Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (ii) shall not apply to secured Indebtedness that becomes due as a result
of the voluntary sale or transfer of the property or assets securing such Indebtedness; 
 (g) an involuntary proceeding shall be commenced
or an involuntary petition shall be filed in a court of competent jurisdiction seeking (i) relief in respect of the Borrower or any Restricted Subsidiary, or of a substantial part of the property or assets of the Borrower or a Restricted
Subsidiary, under Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for the Borrower or any Restricted Subsidiary or for a substantial part of the property or assets of the Borrower or a Restricted Subsidiary or (iii) the winding-up or liquidation of the
Borrower or any Restricted Subsidiary; and such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 

(h) the Borrower or any Restricted Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking relief under
Title 11 of the United States Code, as now constituted or hereafter amended, or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or the filing of any petition described in paragraph (g) above, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the
Borrower or any Restricted Subsidiary or for a substantial part of the property or assets of the Borrower or any Restricted Subsidiary, (iv) file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors, (vi) become unable, admit in writing its inability or fail generally to pay its debts as they become due or (vii) take any action for the purpose of effecting any
of the foregoing; 
 (i) one or more judgments shall be rendered against the Borrower, any Restricted Subsidiary or any combination thereof
and the same shall remain undischarged for a period of 30 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to levy upon assets or properties of the Borrower or any
Subsidiary to enforce any such judgment and such 

  
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judgment either (i) is for the payment of money in an aggregate amount in excess of $5,000,000 or (ii) is for injunctive relief and has resulted or could reasonably be expected to
result in a Material Adverse Effect; 
 (j) an ERISA Event shall have occurred or is reasonably expected to occur that, in the opinion of
the Required Lenders, when taken either alone or together with all other such ERISA Events, has resulted or could reasonably be expected to result in liability of the Borrower, any Subsidiary and their respective ERISA Affiliates in an aggregate
amount exceeding $5,000,000; 
 (k) any Guarantee under the Guarantee and Collateral Agreement for any reason shall cease to be in full
force and effect (other than in accordance with its terms), or any Guarantor shall deny in writing that it has any further liability under the Guarantee and Collateral Agreement (other than as a result of the discharge of such Guarantor in
accordance with the terms of the Loan Documents); 
 (l) any security interest purported to be created by any Security Document shall cease
to be, or shall be asserted by the Borrower or any other Loan Party not to be, a valid, perfected, first priority (except as otherwise expressly provided in this Agreement or such Security Document) security interest in the securities, assets or
properties covered thereby; or 
 (m) there shall have occurred a Change in Control; 

then, and in every such event (other than an event with respect to the Borrower described in paragraph (g) or (h) above), and at any
time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take either or both of the following actions, at the same or different times:
(i) terminate forthwith the Commitments and (ii) declare the Loans then outstanding to be forthwith due and payable in whole or in part, whereupon the principal of the Loans so declared to be due and payable, together with accrued interest
thereon and any unpaid accrued Fees and all other liabilities of the Borrower accrued hereunder and under any other Loan Document, shall become forthwith due and payable, without presentment, demand, protest or any other notice of any kind, all of
which are hereby expressly waived by the Borrower, anything contained herein or in any other Loan Document to the contrary notwithstanding; and in any event with respect to the Borrower described in paragraph (g) or (h) above, the
Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and any unpaid accrued Fees and all other liabilities of the Borrower accrued hereunder and under any other Loan
Document, shall automatically become due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived by the Borrower, anything contained herein or in any other Loan Document to the
contrary notwithstanding. 
 Section 7.02. Application of Proceeds. Notwithstanding anything to the contrary contained in this
Agreement, upon the occurrence and during the continuance of an Event of Default, the proceeds of any sale of, or other realization upon, all or any part of the Collateral shall be applied in the order specified in the Guarantee and Collateral
Agreement. 

  
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 ARTICLE 8 

THE ADMINISTRATIVE AGENT AND THE COLLATERAL
AGENT 
 Section 8.01. Appointment and Authority. Each Lender and the Issuing Bank hereby irrevocably appoints
the Administrative Agent and the Collateral Agent (for purposes of this Article 8, the Administrative Agent and the Collateral Agent are referred to collectively as the “Agents”) its agent, and authorizes the Agents to take such
actions on its behalf and to exercise such powers as are delegated to such Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article 8 are solely for the
benefit of the Agents, the Lenders and the Issuing Bank, and neither the Borrower nor any other Loan Party shall have rights as a third-party beneficiary of any of such provisions. It is understood and agreed that the use of the term
“Agent” or “agent” herein or in any other Loan Documents (or any other similar term) with reference to an Agent, is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of
any applicable law. Instead, such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between the contracting parties. Without limiting the generality of the foregoing, the Agents are
hereby expressly authorized to (a) execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto, as contemplated by and in accordance with the provisions of this
Agreement and the Security Documents and (b) negotiate, enforce or settle any claim, action or proceeding affecting the Lenders in their capacity as such, at the direction of the Required Lenders, which negotiation, enforcement or settlement
will be binding upon each Lender. 
 Section 8.02. Rights as a Lender. The institution serving as the Administrative Agent
and/or the Collateral Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender, and may exercise the same as though it were not an Agent, and such bank and its Affiliates may accept deposits from, lend
money to, own securities of, act as the financial advisor or in any other advisory capacity for, and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not an Agent hereunder. 

Section 8.03. Exculpatory Provisions. Neither Agent shall have any duties or obligations except those expressly set forth in the
Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, (a) neither Agent shall be subject to any fiduciary or other implied duties, regardless of whether a Default or an
Event of Default has occurred and is continuing, (b) neither Agent shall have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that such Agent
is instructed in writing to exercise by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.07), provided that no Agent shall be required to take
any action that, in its opinion or the opinion of its counsel, may expose such Agent 

  
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to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law
or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law and (c) except as expressly set forth in the Loan Documents, neither Agent shall have any duty to disclose,
nor shall it be liable for the failure to disclose, any information relating to the Borrower or any of the Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent and/or Collateral Agent or any of its Affiliates
in any capacity. Neither Agent shall be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders, or such other number or percentage of the Lenders as shall be necessary or as such Agent shall in good
faith believe to be necessary under the circumstances as provided in Section 9.07, or in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment.
Neither Agent shall be deemed to have knowledge of any Default or Event of Default unless and until written notice thereof is given to such Agent by the Borrower or a Lender, and neither Agent shall be responsible for or have any duty to ascertain
or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered thereunder or in connection therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument
or document, or (v) the satisfaction of any condition set forth in Article 4 or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to such Agent. 

Section 8.04. Reliance by Administrative Agent. Each Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each Agent may also rely upon any
statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the
issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the Issuing Bank, the Administrative Agent may presume that such condition is satisfactory to such Lender or the
Issuing Bank unless the Administrative Agent shall have received notice to the contrary from such Lender or the Issuing Bank prior to the making of such Loan or the issuance of such Letter of Credit. Each Agent may consult with legal counsel (who
may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

Section 8.05. Delegation of Duties. Each Agent may perform any and all its duties and exercise its rights and powers by or through
any one or more subagents appointed by it. Each Agent and any such subagent may perform any and all its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of the preceding paragraphs
shall apply to any such subagent and 

  
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to the Related Parties of each Agent and any such subagent, and shall apply to their respective activities in connection with the syndication of the Credit Facilities as well as activities as
Agent. No Agent shall be responsible for the negligence or misconduct of any subagents except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that such Agent acted with gross negligence or
willful misconduct in the selection of such subagents. 
 Section 8.06. Resignation of the Administrative Agent. Subject to the
appointment and acceptance of a successor Agent as provided below, either Agent may resign at any time by notifying the Lenders, the Issuing Bank and the Borrower. Upon any such resignation, the Required Lenders shall have the right, in consultation
with the Borrower, to appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, (or such earlier day as
shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but shall not be obligated to), on behalf of the Lenders and the Issuing Bank, appoint a successor Agent which shall be a bank
with an office in New York, New York, or an Affiliate of any such bank. If no successor Agent has been appointed pursuant to the immediately preceding sentence by the Resignation Effective Date, such Agent’s resignation shall become effective
and the Required Lenders shall thereafter perform all the duties of such Agent hereunder and/or under any other Loan Document until such time, if any, as the Required Lenders appoint a successor Administrative Agent and/or Collateral Agent, as the
case may be. Any such resignation by such Agent hereunder shall also constitute, to the extent applicable, its resignation as an Issuing Bank, in which case such resigning Agent shall not be required to issue any further Letters of Credit hereunder
and shall maintain all of its rights as Issuing Bank with respect to any Letters of Credit issued by it, prior to the date of such resignation. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed
to, and become vested with, all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. The Administrative Agent Fees payable by the Borrower to a
successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After an Agent’s resignation hereunder, the provisions of this Article 8 and Section 9.05 shall continue
in effect for the benefit of such retiring Agent, its subagents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while acting as Agent. 

Section 8.07. Non-Reliance on Administrative Agent and Other Lenders. Each Lender and the Issuing Bank acknowledges that it has,
independently and without reliance upon the Agents or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the Issuing Bank
also acknowledges that it will, independently and without reliance upon the Agents or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not
taking action under or based upon this Agreement or any other Loan Document, any related agreement or any document furnished hereunder or thereunder. 

  
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 Section 8.08. No Other Duties, etc. Notwithstanding any other provision of this
Agreement or any provision of any other Loan Document, the Arranger is named as such for recognition purposes only, and in its capacity as such shall have no duties, responsibilities or liabilities with respect to this Agreement or any other Loan
Document; it being understood and agreed that the Arranger shall be entitled to all indemnification and reimbursement rights in favor of the Agents provided herein and in the other Loan Documents. Without limitation of the foregoing, the Arranger in
its capacity as such shall not, by reason of this Agreement or any other Loan Document, have any fiduciary relationship in respect of any Lender, Loan Party or any other Person. 

Section 8.09. Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law, each Agent
(irrespective of whether the principal of any Loan or Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Agent shall have made any demand on the Borrower) shall be entitled and
empowered (but not obligated) by intervention in such proceeding or otherwise: 
 (i) to file and prove a claim for the whole
amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the
Issuing Bank and each Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Issuing Bank and each Agent and their respective agents and counsel and all other amounts due the Lenders, the
Issuing Bank and each Agent under Sections 2.05 and 9.05) allowed in such judicial proceeding; and 
 (ii) to collect
and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the Issuing Bank to make such payments to such Agent and, in the event that such Agent shall consent to the making of
such payments directly to the Lenders and the Issuing Bank, to pay to such Agent any amount due for the reasonable compensation, expenses, disbursements and advances of such Agent and its agents and counsel, and any other amounts due such Agent
under Sections 2.05 and 9.05. 
 Section 8.10. Collateral and Guarantee Matters. (a) The Lenders irrevocably authorize
the Collateral Agent, at its option and in its sole discretion: 
 (i) to release any Lien on any property granted to, or
held by, the Collateral Agent under any Loan Document (x) on or after the date that the Obligations (other than contingent indemnity and expense reimbursement obligations as to which no claim has been made) have been paid in full, the
Commitments have been terminated and the Letters of Credit have been terminated or Cash Collateralized, (y) with respect to any property that is sold or 

  
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otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted under the Loan Documents or (z), if approved, authorized or
ratified in writing by the Required Lenders (or such other number of Lenders as shall be required hereunder); 
 (ii) to
subordinate any Lien on any property granted to, or held by, the Collateral Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 6.02(i); and 

(iii) to release any Subsidiary from its obligations under the Loan Documents if such Person ceases to be a Subsidiary as a
result of a transaction permitted under the Loan Documents. 
 (b) Upon request by the Collateral Agent at any time, the Required Lenders
will confirm in writing the Collateral Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Subsidiary from its obligations under the Loan Documents pursuant to this
Section 8.10. 
 (c) Except as otherwise expressly set forth herein or in the Guarantee and Collateral Agreement, no Qualified
Counterparty that obtains the benefits of any Guarantee pursuant to the Guarantee and Collateral Agreement or any Collateral by virtue of the provisions hereof or of any Security Document shall have any right to notice of any action or to consent
to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the
extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article 8 to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made
with respect to, obligations with respect to any Secured Hedging Agreement unless the Administrative Agent has received written notice of such obligations, together with such supporting documentation as the Administrative Agent may request, from the
applicable Qualified Counterparty. 
 (d) The Collateral Agent shall not be responsible for, or have a duty to, ascertain or inquire into
any representation or warranty regarding the existence, value or collectability of any Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Loan Party in connection
therewith, nor shall the Collateral Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral. 

ARTICLE 9 

MISCELLANEOUS 

Section 9.01. Notices; Electronic Communications. Except for notices and other communications expressly permitted to be given by
telephone hereunder (and except as provided in this Section 9.01), notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or
sent by fax, as follows: 
 (a) if to the Borrower, to it at 4400 El Camino Real, Los Altos, CA 94022, Attention of VP Finance &
Treasurer (Fax No. 888-418-6762); 

  
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 (b) if to the Administrative Agent, to Credit Suisse AG, Cayman Islands Branch, Eleven Madison
Avenue, 23rd Floor, New York, NY 10010, Attention of: Loan Operations – Agency Manager, Telephone No. 919-994-6369, Fax No. 212-322-2291, Email: agency.loanops@credit-suisse.com;

 (c) if to the Collateral Agent, to Credit Suisse AG, Eleven Madison Avenue, EMA-23, New York, NY 10010, Attention of: Loan Operations
– Boutique Management, Telephone No. 212-538-3525, Email: Ops-collateral@credit-suisse.com; 
 (d) if to the Issuing Bank,
(i) to Credit Suisse AG, Eleven Madison Avenue, 23rd Floor, New York, NY 10010, Telephone: 212-538-1370, Fax: (212) 325-8315), Email: list.ib-lettersofcredit-ny@credit-suisse.com;
(ii) to JPMorgan Chase Bank, N.A., 10420 Highland Manor Drive, Floor 04, Tampa, FL, 33610, Telephone: 813-432-6331, Fax: 856-294-5267, Email: GTS.IB.Standby@JPMChase.com; (iii) to Morgan Stanley Senior Funding, Inc., 1300 Thames Street,
Thames Street Wharf, 4th Floor, Baltimore, MD 21231, Attention: Letter of Credit Department, Telephone: (443) 627-4555, Fax: (212) 507-5010; and (iv) to Bank of Montreal, Attention: Trade Finance Operations, 234 Simcoe Street, 3rd
Floor, Toronto, Ontario M5T 1T4, Canada, Telephone: 1-877-801-0414, Fax: 1-877-801-7787; and 
 (e) if to a Lender, to it at its address (or
fax number) set forth on Schedule 2.01(a) or in the Assignment and Acceptance pursuant to which such Lender shall have become a party hereto. 

All notices and other communications given to any party hereto, in accordance with the provisions of this Agreement, shall be deemed to have
been given on the date of receipt if delivered by hand or overnight courier service, or sent by fax or on the date five (5) Business Days after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed (properly
addressed) to such party as provided in this Section 9.01, or in accordance with the latest unrevoked direction from such party given in accordance with this Section 9.01. As agreed to among the Borrower, the Administrative Agent and the
applicable Lenders from time to time, notices and other communications may also be delivered by e-mail to the e-mail address of a representative of the applicable Person provided from time to time by such Person. 

The Borrower hereby agrees, unless directed otherwise by the Administrative Agent or unless the electronic mail address referred to below has
not been provided by the Administrative Agent to the Borrower, that it will, and will cause its Subsidiaries to, provide to the Administrative Agent all information, documents and other materials that it is obligated to furnish to the Administrative
Agent pursuant to the Loan Documents or to the Lenders under Article 5, including all notices, requests, financial statements, 

  
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financial and other reports, certificates and other information materials, but excluding any such communication that (i) is or relates to a Borrowing Request or a notice pursuant to
Section 2.10 or a notice requesting the issuance, amendment, extension or renewal of a Letter of Credit pursuant to Section 2.21, (ii) relates to the payment of any principal or other amount due under this Agreement prior to the
scheduled date therefor, (iii) provides notice of any Default or Event of Default under this Agreement or any other Loan Document or (iv) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement
and/or any Borrowing or other extension of credit hereunder (all such nonexcluded communications being referred to herein collectively as “Communications”), by transmitting the Communications in an electronic/soft medium that is
properly identified in a format acceptable to the Administrative Agent to an electronic mail address as directed by the Administrative Agent. In addition, the Borrower agrees, and agrees to cause its Subsidiaries, to continue to provide the
Communications to the Administrative Agent or the Lenders, as the case may be, in the manner specified in the Loan Documents but only to the extent requested by the Administrative Agent. 

The Borrower hereby acknowledges that (a) the Administrative Agent will make available to the Lenders and the Issuing Bank materials
and/or information provided by, or on behalf of, the Borrower hereunder (collectively, the “Borrower Materials”) by posting the Borrower Materials on or through Box, Intralinks or another similar electronic system (the
“Platform”) and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material nonpublic information with respect to the Borrower or its securities) (each, a
“Public Lender”). The Borrower hereby agrees that (i) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean
that the word “PUBLIC” shall appear prominently on the first page thereof, (ii) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent and the Lenders
to treat such Borrower Materials as not containing any material nonpublic information with respect to the Borrower or its securities for purposes of United States Federal and state securities laws (provided that to the extent such Borrower
Materials constitute Information, they shall be treated as set forth in Section 9.17), (iii) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated as
“Public Investor” and (iv) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not marked as
“Public Investor.” Notwithstanding the foregoing, the following Borrower Materials shall be deemed to be marked “PUBLIC,” unless the Borrower notifies the Administrative Agent promptly that any such document
contains material nonpublic information: (1) the Loan Documents, (2) any notification of changes in the terms of the Credit Facilities and (3) all information delivered pursuant to Section 5.04 (other than pursuant to clause
(d) thereof). 
 Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have
selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance

  
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procedures and applicable law, including United States Federal and state securities laws, to make reference to Communications that are not made available through the “Public Side
Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States Federal or state securities laws. 

THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS RELATED
PARTIES WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,
INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT OF THIRD-PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE
COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY LOAN PARTY, ANY LENDER OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON STRICT LIABILITY AND
INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY LOAN PARTY’S OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH
THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED FROM SUCH PERSON’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 

The Administrative Agent agrees that the receipt of the Communications by the Administrative Agent at its electronic mail address set forth
above shall constitute effective delivery of the Communications to the Administrative Agent for purposes of the Loan Documents. Each Lender agrees that receipt of notice to it (as provided in the next sentence) specifying that the Communications
have been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of the Loan Documents. Each Lender agrees to notify the Administrative Agent in writing (including by electronic communication)
from time to time of such Lender’s electronic mail address to which the foregoing notice may be sent by electronic transmission and that the foregoing notice may be sent to such e-mail address. Nothing herein shall prejudice the right of the
Administrative Agent or any Lender to give any notice or other communication pursuant to any Loan Document in any other manner specified in such Loan Document. 

Section 9.02. Survival of Agreement. All covenants, agreements, representations and warranties made by the Borrower herein and in
the certificates or other instruments prepared or delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the Lenders and the Issuing

  
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Bank and shall survive the making by the Lenders of the Loans and the issuance of Letters of Credit by the Issuing Bank, regardless of any investigation made by the Lenders or the Issuing Bank or
on their behalf, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any Fee or any other amount payable under this Agreement or any other Loan Document is outstanding and unpaid or any
Letter of Credit is outstanding and so long as the Commitments have not been terminated. The provisions of Sections 2.13, 2.15, 2.19 and 9.05 shall remain operative and in full force and effect regardless of the expiration of the term of this
Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the Loans, the expiration of the Commitments, the expiration of any Letter of Credit, the invalidity or unenforceability of any term or provision of this
Agreement or any other Loan Document or any investigation made by or on behalf of the Administrative Agent, the Collateral Agent, any Lender or the Issuing Bank. 

Section 9.03. Binding Effect. Subject to Section 4.02, this Agreement shall become effective when it shall have been executed
by the Borrower and the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto. 

Section 9.04. Successors and Assigns. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby, except that neither the Borrower nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of
the Administrative Agent and each Lender, and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of Section 9.04(b), (ii) by way of
participation in accordance with the provisions of Section 9.04(d) or (iii) by way of pledge or assignment of a security interest subject to the restrictions of Section 9.04(e) (and any other attempted assignment or transfer by any
party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent
provided in Section 9.04(d) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Collateral Agent, the Issuing Bank and the Lenders) any legal or equitable right, remedy or claim under
or by reason of this Agreement. 

  
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 (b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees (other than as provided in Sections 9.04(b)(v) and 9.04(b)(vi) below) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it);
provided that any such assignment shall be subject to the following conditions: 
 (i) Minimum Amounts.

 (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and/or the Loans
at the time owing to it (in each case with respect to any Class) or contemporaneous assignments to related Approved Funds that equal at least the amount specified in Section 9.04(b)(i)(B) in the aggregate or in the case of an assignment to a
Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 
 (B) in any case not
described in Section 9.04(b)(i)(A), the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Loans of
the assigning Lender subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the
Assignment and Acceptance, as of the Trade Date) shall not be less than $5,000,000, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to
be unreasonably withheld or delayed). 
 (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loan or the Commitment assigned, except that this clause (ii) shall not prohibit any Lender from assigning all
or a portion of its rights and obligations among separate Classes on a non-pro rata basis. 
 (iii) Required Consents.
No consent shall be required for any assignment except to the extent required by Section 9.04(b)(i)(B) and, in addition: 

(A) the consent of the Borrower shall be required if such assignment is to a Disqualified Lender unless an Event of Default has
occurred and is continuing at the time of such assignment; 
 (B) the consent of the Administrative Agent (such consent not
to be unreasonably withheld or delayed) shall be required unless such assignment is to a Lender with a Commitment in respect of such Class, an Affiliate of such Lender or an Approved Fund with respect to such Lender; and 

(C) the consent of each Issuing Bank (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment of Commitments. 

  
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 (iv) Assignment and Acceptance. The parties to each assignment shall
(A) execute and deliver to the Administrative Agent an Assignment and Acceptance via an electronic settlement system acceptable to the Administrative Agent or (B) if previously agreed with the Administrative Agent, manually execute and
deliver to the Administrative Agent an Assignment and Acceptance, in each case, together with a processing and recordation fee of $3,500; provided that the Administrative Agent may, in its sole discretion, elect to waive or reduce such
processing and recordation fee in the case of any assignment. For the avoidance of doubt, except as set forth in Section 2.20, the Borrower shall not, in any event, be responsible for payment of any processing or recordation fee incurred in
connection with any assignment permitted pursuant to this Section 9.04. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire (in which the assignee shall designate one or more credit
contacts to whom all syndicate level information (which may contain material nonpublic information about the Loan Parties and their Related Parties or their respective securities) will be made available and who may receive such information in
accordance with the assignee’s compliance procedures and applicable laws, including Federal and state securities laws) and all applicable tax forms. 

(v) No Assignment to Certain Persons. No such assignment shall be made to (A) the Borrower or any of the
Borrower’s Affiliates or Subsidiaries, (B) any Competitor of the Borrower or a Controlled Affiliate of any such Competitor (provided that any Lender may rely on a representation and warranty from the assignee that it is not a Competitor of
the Borrower or a Controlled Affiliate of any such Competitor), or (C) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this
clause (C). 
 (vi) No Assignment to Natural Persons. No such assignment shall be made to a natural Person. 

(vii) Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender
hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount
sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations or other compensating actions, including funding, with the consent of the Borrower and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent) to (x) pay and satisfy in full all
payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the Issuing Bank and each other Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans
and participations in Letters of Credit. Notwithstanding the foregoing, in the event that any assignment 

  
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of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such
interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 
 Subject to acceptance and recording
thereof by the Administrative Agent pursuant to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Acceptance, the assignee thereunder shall be a party to this Agreement and, to the extent of the
interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released
from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to
be entitled to the benefits of Sections 2.13, 2.15, 2.19 and 9.05, with respect to facts and circumstances occurring prior to the effective date of such assignment as well as to any Fees accrued for its account and not yet paid; provided
that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting
Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with Section 9.04(d). The Borrower and each Lender acknowledges and agrees that the Administrative Agent shall not have any responsibility or obligation to determine whether any assignee is an ineligible assignee and
the Administrative Agent shall have no liability with respect to any assignment made to an ineligible assignee. 
 (c)
Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its offices in The City of New York a copy of each Assignment and Acceptance delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent, the Collateral Agent, the Issuing Bank and the Lenders shall treat each Person whose name
is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon
reasonable prior notice. 
 Upon its receipt of, and consent to, a duly completed Assignment and Acceptance executed by an assigning
Lender and an assignee, an Administrative Questionnaire completed in respect of the assignee (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) above, if applicable, and
the written consent of the Administrative Agent and, if required, the Borrower and the Issuing Bank to such assignment and any applicable tax forms, the Administrative Agent shall (i) accept such Assignment and Acceptance and (ii) promptly
record the information contained therein in the Register. No assignment shall be effective unless it has been recorded in the Register as provided in this paragraph. 

  
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 (d) Participations. Any Lender may at any time, without the consent of, or notice
to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural Person, the Borrower or any of the Borrower’s Affiliates or Subsidiaries or any Competitor of the Borrower or a Controlled Affiliate of any
such Competitor (provided that any Lender may rely on a representation and warranty from the participant that it is not a Competitor of the Borrower or a Controlled Affiliate of any such Competitor )) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i) such
Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent,
the Collateral Agent, the Issuing Bank and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall
be responsible for the indemnity under Section 9.05(c) with respect to any payments made by such Lender to its Participant(s). 

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right
to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree
to any amendment, modification or waiver with respect to the following: decreasing any fees payable to such Participant hereunder or the amount of principal of or the rate at which interest is payable on the Loans in which such Participant has an
interest, or extending any scheduled principal payment date or date fixed for the payment of interest on the Loans in which such Participant has an interest, increasing or extending the Commitments in which such Participant has an interest or
releasing Guarantors (other than in connection with the sale of any Guarantor in a transaction permitted by Section 6.05) or all or substantially all of the Collateral). The Borrower agrees that each Participant shall be entitled to the
benefits of Sections 2.13, 2.15 and 2.19 (subject to the requirements and limitations therein, including the requirements under Section 2.19 (it being understood that the documentation required under Section 2.19(g) shall be delivered
to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 9.04(b); provided that such Participant (A) agrees to be subject to the provisions of
Section 2.20 as if it were an assignee under Section 9.04(b)) and (B) shall not be entitled to receive any greater payment under Sections 2.13, 2.15 or 2.19 with respect to any participation, than its participating Lender would
have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at
the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 2.20 with respect to any Participant. To the extent permitted by law, each Participant also shall be
entitled to the benefits of Section 9.06 as though it 

  
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were a Lender; provided that such Participant agrees to be subject to Section 2.17 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this
purpose as an agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan
Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a
Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit
or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name
is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent)
shall have no responsibility for maintaining a Participant Register. 
 (e) Certain Pledges. Any Lender may at any time pledge
or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or
assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

Section 9.05. Expenses; Indemnity. (a) The Borrower agrees to pay all out-of-pocket expenses incurred by the Administrative
Agent, the Collateral Agent, the Issuing Bank and the Arranger (and each of their respective Affiliates) in connection with the syndication of the Credit Facilities and the preparation and administration of this Agreement and the other Loan
Documents or in connection with any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions hereby or thereby contemplated shall be consummated) or incurred by the Administrative Agent, the
Collateral Agent, the Arranger (and each of their respective Affiliates) or any Lender in connection with the enforcement or protection of its rights in connection with the Engagement Letter, this Agreement and the other Loan Documents or in
connection with the Loans made or Letters of Credit issued hereunder, including (i) the reasonable fees, charges and disbursements of Davis Polk & Wardwell LLP, counsel for the Administrative Agent and the Collateral Agent, and any
other counsel engaged with the consent of the Borrower (such consent not to be unreasonably withheld or delayed) and (ii) in connection with any such enforcement or protection, the fees, charges and disbursements of one or more additional
counsel as a result of one or more actual or perceived conflicts of interests and any special counsel and local counsel in each applicable jurisdiction, for the Administrative Agent, the Collateral Agent, the Arranger and the Lenders (and each of
their respective Affiliates). 
 (b) The Borrower agrees to indemnify the Administrative Agent, the Collateral Agent, the Issuing Bank, each
Lender and each Related Party of any of the 

  
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foregoing Persons (each such Person being called an “Indemnitee”) against, and to hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related
expenses, including reasonable consultant or other expert fees, charges and disbursements and the reasonable and documents fees, charges and disbursements of one firm of counsel to all Indemnitees (and one or more additional counsel as a result of
one or more actual or perceived conflicts of interest and any special counsel and local counsel in each applicable jurisdiction), incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as a result of
(i) the execution or delivery of this Agreement or any other Loan Document or any agreement or instrument contemplated thereby, the performance by the parties thereto of their respective obligations thereunder or the consummation of the
Transactions and the other transactions contemplated thereby (including the syndication of the Credit Facilities), (ii) the use of the proceeds of the Loans or issuance of Letters of Credit (including any refusal by the Issuing Bank to honor a
demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any Environmental Liability related in any way to the Loan Parties, any
of their respective subsidiaries or predecessors or any property currently or formerly owned, leased or operated by the Loan Parties or any of their respective subsidiaries or predecessors, including the Mortgaged Properties, or (iv) any claim,
litigation, investigation or proceeding relating to any of the foregoing, whether or not any Indemnitee is a party thereto (and regardless of whether such matter is initiated by the Borrower, any other Loan Party or any of their respective
Affiliates or any other Person); provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction
by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee. This Section 9.05(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages,
liabilities and related expenses arising from any non-Tax claim. 
 (c) To the extent that the Borrower fails to pay any amount
required to be paid by it to the Administrative Agent, the Collateral Agent, the Issuing Bank or the Arranger (or any of their respective Affiliates) under paragraph (a) or (b) of this Section 9.05, each Lender severally agrees to pay
to the Administrative Agent, the Collateral Agent, the Issuing Bank or the Arranger (or any of their respective Affiliates), as the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or
indemnity payment is sought) of such unpaid amount; (including any such unpaid amount in respect of a claim asserted by such Lender); provided that the unreimbursed expense or indemnified loss, claim, damage, liability or
related expense, as the case may be, was incurred by or asserted against the Administrative Agent, the Collateral Agent, the Issuing Bank or the Arranger (or any of their respective Affiliates) in its capacity as such. For purposes hereof, a
Lender’s “pro rata share” shall be determined based upon its share of the sum of the Aggregate Exposure and unused Commitments at the time (in each case, determined as if no Lender were a Defaulting Lender). 

(d) To the extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any
theory of liability, for 

  
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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 Transactions, any Loan or Letter of Credit or the use of the proceeds thereof. 
 (e) All amounts due under this
Section 9.05 shall be payable on written demand therefor. 
 Section 9.06. Right of Setoff. If an Event of Default shall
have occurred and be continuing, each Lender is hereby authorized at any time and from time to time, except to the extent prohibited by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any
time held and other indebtedness at any time owing by such Lender to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement and other Loan Documents held
by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement or such other Loan Document and although such obligations may be unmatured; provided that in the event that any Defaulting Lender shall
exercise any such right of setoff, (a) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.23 and, pending such payment, shall be
segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent, the Issuing Bank, and the Lenders and (b) such Defaulting Lender shall provide promptly to the Administrative Agent
a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender under this Section 9.06 are in addition to other rights and remedies (including
other rights of setoff) which such Lender may have. 
 Section 9.07. Waivers; Amendment. (a) No failure or delay of the
Administrative Agent, the Collateral Agent, any Lender or the Issuing Bank in exercising any power or right hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or
power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Collateral
Agent, the Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or any other Loan
Document or consent to any departure by the Borrower or any other Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) below, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. No notice or demand on the Borrower in any case shall entitle the Borrower to any other or further notice or demand in similar or other circumstances. 

(b) No Loan Document or provision thereof may be waived, amended or modified except, in the case of this Agreement, by an agreement or
agreements in writing entered into by the Borrower and the Required Lenders or, in the case of any other Loan 

  
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Document, by an agreement or agreements in writing entered into by the parties thereto with the consent of the Required Lenders; provided that, in addition to the approval of the Required
Lenders, no such agreement shall: 
 (i) decrease the principal amount of, or extend the maturity of or any scheduled
principal payment date or date for the payment of any interest on any Loan or any date for reimbursement of an L/C Disbursement, or waive or excuse any such payment or any part thereof or decrease the rate of interest on any Loan or L/C
Disbursement, without the prior written consent of each Lender directly adversely affected thereby; provided, that the Required Lenders may waive payment of any default interest accruing at any time under Section 2.07, 

(ii) increase or extend the Commitment or decrease or extend the date for payment of any Fees of any Lender without the prior
written consent of such Lender, 
 (iii) amend or modify the pro rata requirements of Section 2.16, the provisions of
Section 9.04(a) relating to an assignment or other transfer by the Borrower or any other Loan Party of any of its rights or obligations hereunder or release all or substantially all of the Guarantors (other than in connection with the sale of
such Guarantor in a transaction permitted by Section 6.06) or all or substantially all of the Collateral, without the prior written consent of each Lender, 

(iv) change the provisions of any Loan Document in a manner that by its terms adversely affects the rights of Lenders holding
Loans or Commitments of one Class differently from the rights of Lenders holding Loans or Commitments of any other Class without the prior written consent of Lenders holding a majority in interest of the outstanding Loans and unused Commitments of
each adversely affected Class, or 
 (v) reduce the percentage contained in the definition of the term “Required
Lenders” or the provision of this Section 9.07 without the prior written consent of each Lender (it being understood that with the consent of the Required Lenders, additional extensions of credit pursuant to this Agreement may be
included in the determination of the Required Lenders on substantially the same basis as the Commitments on the date hereof); 
 provided further
that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Collateral Agent or the Issuing Bank hereunder or under any other Loan Document without the prior written consent of the
Administrative Agent, the Collateral Agent or the Issuing Bank, respectively. 
 (c) Notwithstanding anything to the contrary in this
Agreement or any other Loan Document, the Administrative Agent and the Borrower may amend any Loan Document (i) to correct administrative errors or omissions, or to effect administrative changes that are not adverse to any Lender, (ii) to
make modifications contemplated by 

  
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Sections 2.24 or 2.25 pursuant to an Additional Credit Extension Amendment or in connection with an Extension, as applicable, (iii) to correct, amend, cure any ambiguity, inconsistency,
defect or correct any typographical error or other manifest error in this Agreement or any other Loan Document, (iv) to comply with local law or advice of local counsel in respect of a Security Document or (v) to cause a Security Document
to be consistent with this Agreement and other Loan Documents. Notwithstanding anything to the contrary contained herein, such amendment shall become effective without any further consent of any other party to such Loan Document. 

Section 9.08. Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate
applicable to any Loan or participation in any L/C Disbursement, together with all fees, charges and other amounts which are treated as interest on such Loan or participation in such L/C Disbursement under applicable law (collectively, the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan or participation in accordance with applicable
law, the rate of interest payable in respect of such Loan or participation hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been
payable in respect of such Loan or participation but were not payable as a result of the operation of this Section 9.08 shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or participations or
periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. 

Section 9.09. Entire Agreement. This Agreement, the Engagement Letter and the other Loan Documents constitute the entire contract
between the parties relative to the subject matter hereof. Unless otherwise specified therein, any other previous agreement among the parties with respect to the subject matter hereof is superseded by this Agreement and the other Loan Documents.
Nothing in this Agreement or in the other Loan Documents, expressed or implied, is intended to confer upon any Person (other than the parties hereto and thereto, their respective successors and assigns permitted hereunder (including any Affiliate of
the Issuing Bank that issues any Letter of Credit) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Collateral Agent, the Issuing Bank and the Lenders) any rights, remedies, obligations
or liabilities under or by reason of this Agreement or the other Loan Documents. 
 Section 9.10. WAIVER OF JURY TRIAL. EACH
PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE
OTHER LOAN DOCUMENTS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND 

  
 -103- 

 
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS
AND CERTIFICATIONS IN THIS SECTION 9.10. 
 Section 9.11. Severability. In the event any one or more of the provisions contained
in this Agreement or in any other Loan 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. 

Section 9.12. Counterparts. This Agreement may be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract, and shall become effective as provided in Section 9.03. Delivery of an executed signature page to this Agreement
by facsimile transmission or other customary means of electronic transmission (e.g. “pdf”) shall be as effective as delivery of a manually signed counterpart of this Agreement. 

Section 9.13. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference
only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

Section 9.14. Applicable Law. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN LETTERS OF CREDIT AND AS EXPRESSLY SET FORTH
IN OTHER LOAN DOCUMENTS) AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT OR ANY SUCH OTHER LOAN DOCUMENTS (INCLUDING, WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT
MATTER HEREOF) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. EACH LETTER OF CREDIT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED IN ACCORDANCE WITH, THE LAWS OR RULES DESIGNATED IN SUCH LETTER OF CREDIT, OR
IF NO SUCH LAWS OR RULES ARE DESIGNATED, THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS MOST RECENTLY PUBLISHED AND IN EFFECT, ON THE DATE SUCH LETTER OF CREDIT WAS ISSUED, BY THE INTERNATIONAL CHAMBER OF COMMERCE (THE “UNIFORM
CUSTOMS”) AND, AS TO MATTERS NOT GOVERNED BY THE UNIFORM CUSTOMS, THE LAWS OF THE STATE OF NEW YORK. 

  
 -104- 

 Section 9.15. Jurisdiction; Consent to Service of Process. (a) The Borrower
hereby irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or tort or otherwise, against the Administrative Agent, any
Lender, any Issuing Bank or any Related Party of the foregoing in any way relating to this Agreement or any other Loan Document (except as otherwise expressly stated therein) or the transactions relating hereto or thereto, in any forum other than
any New York State court or Federal court of the United States of America sitting in the borough of Manhattan in New York City, and any appellate court from any thereof, and each of the parties hereto hereby irrevocably and unconditionally agrees
that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Administrative Agent, the Collateral Agent, the
Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or the other Loan Documents against the Borrower or its properties in the courts of any jurisdiction. 

(b) The Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection
which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of, or relating to, this Agreement or the other Loan Documents in any New York State or Federal court. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(c) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.01. Nothing
in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

Section 9.16. Electronic Execution of Assignments. The words “execution,” “signed,”
“signature,” and words of like import in any Assignment and Acceptance shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

Section 9.17. Confidentiality. Each of the Administrative Agent, the Collateral Agent, the Issuing Bank and the Lenders agrees to
maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ Related Parties (it being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to 

  
 -105- 

 
keep such Information confidential), (b) to the extent requested by any regulatory authority or quasi-regulatory authority (such as the National Association of Insurance Commissioners),
(c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) in connection with the exercise of any remedies hereunder or under the other Loan Documents or any suit, action or proceeding
relating to the enforcement of its rights hereunder or thereunder, (e) to any other party hereto and, subject to an agreement containing provisions no less restrictive than this Section 9.17, to (i) any actual or prospective assignee
of or Participant in any of its rights or obligations under this Agreement and the other Loan Documents or (ii) any actual or prospective counterparty (or its advisors) to any swap, derivative or other transaction under which payments are to be
made by reference to the Borrower or any Subsidiary or any of their respective obligations, this Agreement or payments hereunder, (f) with the consent of the Borrower, (g) to the extent such Information (x) becomes publicly available
other than as a result of a breach of this Section 9.17, or (y) becomes available to the Administrative Agent, any Lender, the Issuing Bank or any of their respective Affiliates on a non-confidential basis from a source other than the
Borrower or (h) on a confidential basis to (w) any rating agency in connection with rating the Borrower or its Subsidiaries or the Credit Facilities hereunder, (x) the CUSIP Service Bureau or any similar agency in connection with the
issuance and monitoring of CUSIP numbers with respect to the Credit Facilities, (y) service providers to the Administrative Agent in connection with the administration and management of this Agreement and the Loan Documents and (z) market
data collectors and similar service providers to the lending industry. For the purposes of this Section 9.17, “Information” shall mean all information received from the Borrower and related to the Borrower or its business,
other than any such information that was available to the Administrative Agent, the Collateral Agent, the Issuing Bank or any Lender on a nonconfidential basis prior to its disclosure by the Borrower. Any Person required to maintain the
confidentiality of Information as provided in this Section 9.17 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such
Person would accord its own confidential information. 
 Section 9.18. Lender Action. Each Lender agrees that it shall not take
or institute any actions or proceedings, judicial or otherwise, for any right or remedy against any Loan Party or any other obligor under any of the Loan Documents (including the exercise of any right of setoff, rights on account of any
banker’s lien or similar claim or other rights of self-help), or institute any actions or proceedings, or otherwise commence any remedial procedures, with respect to any Collateral or any other property of any such Loan Party, unless expressly
provided for herein or in any other Loan Document, without the prior written consent of the Administrative Agent. The provisions of this Section 9.18 are for the sole benefit of the Lenders and shall not afford any right to, or constitute a
defense available to, any Loan Party. 
 Section 9.19. USA PATRIOT Act Notice. Each Lender and the Administrative Agent (for
itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies the Borrower, which information includes the name
and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the USA PATRIOT Act. 

  
 -106- 

 Section 9.20. No Fiduciary Duty. Each Agent, each Lender and their respective
Affiliates (collectively, solely for purposes of this paragraph, the “Lenders”), may have economic interests that conflict with those of the Loan Parties, their stockholders and/or their Affiliates. Each Loan Party agrees that
nothing in the Loan Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Lender, on the one hand, and such Loan Party, its equityholders or its Affiliates, on
the other. The Loan Parties acknowledge and agree that (i) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between
Lenders, on the one hand, and the Loan Parties, on the other, and (ii) in connection therewith and with the process leading thereto, (x) no Lender has assumed an advisory or fiduciary responsibility in favor of any Loan Party, its
equityholders or its Affiliates with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender has advised, is currently advising
or will advise any Loan Party, its equityholders or its Affiliates on other matters) or any other obligation to any Loan Party except the obligations expressly set forth in the Loan Documents and (y) each Lender is acting solely as principal
and not as the agent or fiduciary of any Loan Party, its management, equityholders, creditors or any other Person. Each Loan Party acknowledges and agrees that it has consulted its own legal and financial advisors to the extent it deemed appropriate
and that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. Each Loan Party agrees that it will not claim that any Lender has rendered advisory services of any nature or
respect, or owes a fiduciary or similar duty to such Loan Party, in connection with such transaction or the process leading thereto. 

  
 -107- 

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

					
	BOX, INC.,
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, individually and as Administrative Agent and Collateral Agent,
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 Schedule 1.01(a) 

Disqualified Lenders 

“Disqualified Lender” shall mean any Person other than (a) a Lender, (b) an Affiliate of a Lender, (c) an Approved Fund of a
Lender and (d) any other Person (other than a natural person) consented to by the Borrower; provided that with respect to any assignment after the first anniversary of the Closing Date, such consent of the Borrower shall not be
unreasonably withheld or delayed. 

 Schedule 1.01(b) 

Guarantors 
 None. 

 Schedule 1.01(c) 

Immaterial Subsidiaries 
  

	 	•	 	Crocodoc; 

  

	 	•	 	Box Intl Holdings Ltd; 

  

	 	•	 	Box Intl Technology Ltd; 

  

	 	•	 	Box France SARL; 

  

	 	•	 	Box Deutschland GmbH; 

  

	 	•	 	KK Box Japan; 

  

	 	•	 	Greply, Inc. 

  

	 	•	 	Box Canada, Inc. 

 Schedule 2.01(a) 

Lenders and Commitments 
  

					
	 Lender
	  	Commitment	 
	 Credit Suisse AG, Cayman Islands Branch
	  	$	37,500,000	  
	 JPMorgan Chase Bank, N.A.
	  	$	15,000,000	  
	 Morgan Stanley Senior Funding, Inc.
	  	$	15,000,000	  
	 BMO Harris Financing, Inc.
	  	$	7,500,000	  

 Schedule 2.01(b) 

L/C Commitments 
  

					
	 Lender
	  	Commitment	 
	 Credit Suisse AG, Cayman Islands Branch
	  	$	12,500,000	  
	 JPMorgan Chase Bank, N.A.
	  	$	5,000,000	  
	 Morgan Stanley Senior Funding, Inc.
	  	$	5,000,000	  
	 BMO Harris Financing, Inc.
	  	$	2,500,000	  

 Schedule 3.08 

Subsidiaries 
  

	 	•	 	Crocodoc; 

  

	 	•	 	Box Intl Holdings Ltd; 

  

	 	•	 	Box Intl Technology Ltd; 

  

	 	•	 	Box.com (UK) Ltd; 

  

	 	•	 	Box France SARL; 

  

	 	•	 	Box Deutschland GmbH; 

  

	 	•	 	KK Box Japan. 

 Schedule 3.18 

Insurance 
  

													
	 Coverage
	 	 Carrier
	 	 A.M. Best
Rating
	 	 Effective Date
	 	 Policy Number
	 	 Limits
	 	 Deductibles

	Property	 	Berkley/ StarNet Insurance Company	 	A+, XV	 	7/1/13-7/1/14	 	TCP7002778-11	 	 $20,000,000 Blanket Personal Property

$3,000,000 Blanket Business Income / Extra Expense
 $5,000,000
Earthquake Sprinkler Leakage
 $250,000 Contingent Business Income

$500,000 Personal Property Unscheduled Locations
	 	 $1,000 Property Deductible, EXCEPT as noted below

24 Hours Business Income Waiting Period
 $100K, 24 Hrs
Earthquake Sprinkler Leakage

	Liability	 	Berkley/ StarNet Insurance Company	 	A+, XV	 	7/1/13-7/1/14	 	TCP7002778-11	 	 Commercial General Liability

$1,000,000 Each Occurrence
 $2,000,000 General Aggregate

$2,000,000 Products/Completed Operations - Aggregate
 $1,000,000
Personal and Advertising Injury
 $1,000,000 Damage to Premise Rented to You

$10,000 Medical Payments
	 	
		 		 		 		 		 	 Employee Benefits Liability
 $1,000,000
Each Claim
 $3,000,000 Aggregate
	 	$1,000 Employee Benefits Liability
		 		 		 		 		 	 Contingent Auto Liability
 $1,000,000
Each Accident (Hired & Non-Owned Autos)
 $10,000 Medical Payments (Hired Autos)
	 	
		 		 		 		 		 	 $50,000 Physical Damage (Hired Autos)

Foreign Voluntary Workers Compensation
 State of Hire -
US Nationals
 Country of Permanent Residence - Third Country Nationals

Employers Liability
 $1,000,000 Bodily Injury by accident
- each accident
 $1,000,000 Bodily injury by disease - each employee

$1,000,000 Bodily injury by disease - policy limit

Repatriation Expense
 $1,000,000 Each Employee

$1,000,000 Aggregate
	 	$1,000 Physical Damage Deductible
	Automobile Liability	 	Berkley/ StarNet Insurance Company    	 	A+, XV	 	7/1/13-7/1/14	 	TCP7002778-11	 	 $1,000,000 Liability - Per Accident (Hired & Non-Owned Autos)

ACV Physical Damage (Hired Autos)
	 	 $100 Comprehensive
 $1,000
Collision

													
	 Coverage
	 	 Carrier
	 	 A.M. Best
Rating
	 	 Effective Date
	 	 Policy Number
	 	 Limits
	 	 Deductibles

	Umbrella	 	Berkley/ Berkley National Ins Co	 	A+, XV	 	7/1/13-7/1/14	 	TUL7002808-10	 	$20,000,000 Occurrence	 	
	Workers Compensation	 	Berkley/ Berkley National Ins Co	 	A+, XV	 	7/1/13-7/1/14	 	TWC7002779-12	 	 Workers Compensation - Statutory Benefits

Employers Liability
 $1,000,000 Bodily Injury by accident
- each accident
 $1,000,000 Bodily injury by disease - each employee

$1,000,000 Bodily injury by disease - policy limit
	 	
	Local UK EL	 	WR Berkley Ins (Europe) LTD	 	A+, XV	 	7/1/13-7/1/14	 	GIL130G8F073	 	£5,000,000 Limit of Indemnity	 	
	Errors & Omissions	 	Zurich American Ins Co	 	A+, XV	 	7/1/13-7/1/14	 	EOC5761260-00	 	$10,000,000 Aggregate for All Damages, Claim Expenses and Privacy Event Expenses under all Coverages	 	
		 		 		 		 		 	 Information Technology and Internet Liability (incl Media Liability)

$10,000,000 Each Claim
 $10,000,000 Aggregate

9/26/2008 Retroactive Date
	 	$100,000 SIR Each Claim
		 		 		 		 		 	 System Security and Privacy Liability

$10,000,000 Each Claim
 $10,000,000 Aggregate

$1,000,000 Each Claim - Regulatory Proceeding Sublimit

$1,000,000 Aggregate - Regulatory Proceeding Sublimit
 9/26/2008
Retroactive 
	 	 $100,000 SIR Each Claim
 $100,000 SIR Each
Claim
 (Regulatory Proceeding)

		 		 		 		 		 	 Date Privacy Breach Cost
 $2,000,000
Each Claim
 $2,000,000 Aggregate
	 	$100,000 Retention
	Excess E&O $10mil xs $10mil	 	ACE American Ins Co	 	A+, XV	 	7/1/13-7/1/14	 	G23671621 001	 	$10,000,000 Limit of Liability excess over underlying E&O layer of $10,000,000	 	
	Excess E&O $10mil xs $20mil	 	XL / Greenwich Ins Co	 	A, XV	 	7/1/13-7/1/14	 	MTE 0041520	 	$10,000,000 Limit of Liability excess over underlying E&O layer of $20,000,000	 	
	Excess E&O $10mil xs $30mil	 	AXIS Ins Co	 	A, XV	 	7/1/13-7/1/14	 	MSN 775222/01/2013	 	$10,000,000 Limit of Liability excess over underlying E&O layer of $30,000,000	 	
	Excess E&O $10mil xs $40mil	 	CNA / Continental Casualty Co	 	A, XV	 	7/1/13-7/1/14	 	MSN 775222/01/2013	 	$10,000,000 Limit of Liability excess over underlying E&O layer of $40,000,000	 	
	Fiduciary Liability	 	Chubb / Federal Ins Co	 	A++, XV	 	7/1/13-7/1/14	 	8224-1170	 	$1,000,000 Aggregate Limit of Liability	 	

													
	 Coverage
	 	 Carrier
	 	 A.M. Best
Rating
	 	 Effective Date
	 	 Policy Number
	 	 Limits
	 	 Deductibles

	Crime	 	Chubb / Federal Ins Co	 	A++, XV	 	7/1/13-7/1/14	 	8224-1170	 	 $5,000,000 Employee Theft
 $2,000,000
Premises
	 	$5,000 Retention
		 		 		 		 		 	 $2,000,000 In Transit
 $2,000,000 Forgery

$2,000,000 Computer Fraud
 $2,000,000 Funds Transfer Fraud

$2,000,000 Money Orders and Counterfeit Money
 $2,000,000 Credit
Card Fraud
 $5,000,000 Client Coverage
 $100,000
Expense
	 	
	Employment Practices Liability	 	HCC	 	A+, XIV	 	3/21/13-3/21/14	 	14-MGU-13 -A28851	 	$5,000,000 Aggregate Limit of Liability	 	$100,000 Retention
	Primary Directors & Officers	 	HCC	 	A+, XIV	 	3/21/13-3/21/14	 	14-MGU-13 -A28851	 	$5,000,000 Aggregate Limit of Liability	 	 $- Retention (Insuring Agreement A)

Non-indemnifiable Loss
 $50,000 Retention (Insuring
Agreement A)
 Indemnifiable Loss
 $50,000 Retention
(Insuring Agreement B)

	Excess Directors & Officers $5mil xs $5mil	 	ACE / U.S. Specialty Ins Co	 	A+, XV	 	3/21/13-3/21/14	 	DOX G26793038	 	$5,000,000 Limit of Liability excess over underlying D&O layers of $5,000,000	 	

  

Proprietary Information: Data provided on this page is proprietary between Aon and Box, Inc. 

This summary is furnished to you for general informational purposes and is accurate only as of the effective date of your coverage. This document is not an
insurance policy and does not amend, alter or extend the coverage afforded by the listed proposed policy(ies); please consult your policy(ies) for the actual terms, conditions and limits that apply to your coverage. ©Aon Corporation, 2012. All
rights Reserved. 
 The Borrower also subscribes to the following employee benefit plans: 

 

	•	 	Medical: Kaiser and Anthem 

  

	•	 	Dental and Vision: Guardian 

  

	•	 	Life/Disability: Guardian 

  

	•	 	Business Travel Accident, Medical Benefits Abroad, and International Medical: Cigna 

 Schedule 3.19(a) 

UCC Filing Offices 
 Secretary of State of
the State of Delaware. 

 Schedule 3.20(a) 

Owned Real Property 
 None. 

 Schedule 3.20(b) 

Leased Real Property 
 Office Lease by and
between Borrower and Behringer Harvard El Camino Real LP for the lease of the premises located at 4440 El Camino Real, Los Altos, California, effective July 1, 2011 (the “El Camino Lease”). 

Lease Agreement by and between the Borrower and J&R Realty Borrower for the lease of the premises located at 409 Sherman Avenue, Palo Alto, CA 94306,
dated June 10, 2008 (the “Sherman Lease”). The property leased pursuant to the Sherman Lease is the subject of a Sublease by and between Borrower and Groupon, Inc., dated September 2010. 

Lease Agreement by and between the Borrower and El Camino Center for the lease of the premises located at 200-380 Portage Drive, Palo Alto, CA 94306, dated
March 31, 2010 (the “Portage Lease”). The property leased pursuant to the Portage Lease is the subject of (i) a Sublease by and between Borrower and Cloudera, Inc., as the Subtenant, for the premises located at 220 Portage
Avenue, Palo Alto, CA 94306, dated March 12, 2012; and (ii) a Sublease by and between Borrower and Wepay, Inc., as the Subtenant, for the premises located at 380 Portage Avenue, Palo Alto, CA 94306, May 24, 2012. 

Office Lease by and between the Borrower and Kilroy Realty, L.P. for the premises located at 100 First Street, 13th Floor, San Francisco, CA, dated
May 11, 2012 (the “First Street Lease”). 
 Sublease by and among the Borrower, as the Subtenant, LeMessurier Consultants Inc., as the
Tenant, and USREIF Central Plaza Massachusetts, LLC, as the Landlord, for the lease of the premises located at 675 Massachusetts Avenue, Cambridge, MA 02139, dated June 1, 2010, as amended (the “Massachusetts Lease”). A portion
of the property leased pursuant to the Massachusetts Lease is the subject of a Sublease by and between Borrower and Biff Labs, Inc., dated September 1, 2011. 

Lease by and between the Borrower and 4410 Los Altos, LLC for the lease of the premises located at 4410 El Camino Real, Suites 102, 106, 107,
206 & 210, Los Altos, CA, dated August 10, 2011, as amended on September 2, 2011 and October 27, 2011 (the “Los Altos Lease”). The property leased pursuant to the Los Altos Lease is the subject of (i) a
Sublease by and between Borrower, as Sublessor, and Voyageprive.com for Suite 206 of the premises located at 4410 El Camino Real, Los Altos, CA, dated September 13, 2011, and (ii) a Sublease by and between Borrower, as Sublessor, and
WebFilings for Suite 200 of the premises located at 4410 El Camino Real, Los Altos, CA, dated September 30, 2011. 

 Schedule 6.01(a) 

Existing Indebtedness 

Irrevocable Standby Letter of Credit, dated June 24, 2011, issued by Wells Fargo Bank, N.A. on behalf of the Borrower in connection with
the Office Lease by and between Borrower and Behringer Harvard El Camino Real LP for the lease of the premises located at 4440 El Camino Real, Los Altos, California, effective July 1, 2011. 

Irrevocable Standby Letter of Credit, dated May 11, 2012, issued by Wells Fargo Bank, N.A. on behalf of the Borrower in connection with
the Office Lease by and between the Borrower and Kilroy Realty, L.P. for the premises located at 100 First Street, 13th Floor, San Francisco, CA, dated May 11, 2012 (the “First Street LOC”). 

Shares of the Borrower’s Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D
Preferred Stock, Series D-1 Preferred Stock, Series D-2 Preferred Stock, and Series E Preferred Stock are redeemable if requested by the holders of not less than sixty-six and two/thirds percent (66-2/3%) of the outstanding shares of
Preferred Stock of the Borrower, voting as a single class, at any time after July 20, 2017; provided, however, that if such a request is made, the prior approval of the holders of at least a majority of the outstanding shares of
Series E Preferred Stock shall also be required to redeem the shares of Series E Preferred Stock. 

 Schedule 6.02(a) 

Existing Liens 
 Security
Agreement issued by the Borrower to Wells Fargo Bank, N.A., in connection with the First Street LOC referenced in Section 6.01(a) above.Exhibit 10.1

 

EXECUTION VERSION

 

 

PURCHASE AND SALE AGREEMENT

 

 

Dated as of December 5, 2014

 

 

by and among

 

 

VARIOUS ENTITIES LISTED ON SCHEDULE I,

as the Originators

 

 

and

 

 

ALLIANCE RESOURCE OPERATING PARTNERS, L.P.,

as the Buyer

 

 

CONTENTS

 

	
Clause
    	
 
    	
Subject Matter
    	
 
    	
Page
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE I
    
	
AGREEMENT TO PURCHASE AND SELL
    
	
2
    
	
 
    
	
SECTION 1.1
    	
 
    	
Agreement   To Purchase and Sell
    	
 
    	
2
    
	
SECTION 1.2
    	
 
    	
Timing   of Purchases
    	
 
    	
3
    
	
SECTION 1.3
    	
 
    	
Consideration   for Purchases
    	
 
    	
3
    
	
SECTION 1.4
    	
 
    	
Purchase   and Sale Termination Date
    	
 
    	
3
    
	
SECTION 1.5
    	
 
    	
Intention   of the Parties
    	
 
    	
3
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE II
    
	
PURCHASE REPORT; CALCULATION OF PURCHASE PRICE
    
	
4
    
	
 
    
	
SECTION 2.1
    	
 
    	
Purchase   Report
    	
 
    	
4
    
	
SECTION 2.2
    	
 
    	
Calculation   of Purchase Price
    	
 
    	
4
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE III
    
	
PAYMENT OF PURCHASE PRICE
    
	
5
    
	
 
    
	
SECTION 3.1
    	
 
    	
Purchases
    	
 
    	
5
    
	
SECTION 3.2
    	
 
    	
Settlement   as to Specific Receivables and Dilution
    	
 
    	
6
    
	
SECTION 3.3
    	
 
    	
Reconveyance   of Receivables
    	
 
    	
7
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE IV
    
	
CONDITIONS OF PURCHASES
    
	
7
    
	
 
    
	
SECTION 4.1
    	
 
    	
Conditions   Precedent to Initial Purchase
    	
 
    	
7
    
	
SECTION 4.2
    	
 
    	
Certification   as to Representations and Warranties
    	
 
    	
8
    
	
SECTION 4.3
    	
 
    	
Additional   Originators
    	
 
    	
8
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE V
    
	
REPRESENTATIONS AND WARRANTIES OF THE ORIGINATORS
    
	
9
    
	
 
    
	
SECTION 5.1
    	
 
    	
Existence   and Power
    	
 
    	
9
    
	
SECTION 5.2
    	
 
    	
Company   and Governmental Authorization, Contravention
    	
 
    	
9
    
	
SECTION 5.3
    	
 
    	
Binding   Effect of Agreement
    	
 
    	
9
    
	
SECTION 5.4
    	
 
    	
Accuracy   of Information
    	
 
    	
9
    
	
SECTION 5.5
    	
 
    	
Actions,   Suits
    	
 
    	
10
    
	
SECTION 5.6
    	
 
    	
Taxes
    	
 
    	
10
    
	
SECTION 5.7
    	
 
    	
Compliance   with Applicable Laws
    	
 
    	
10
    
	
SECTION 5.8
    	
 
    	
Reliance   on Separate Legal Identity
    	
 
    	
10
    
	
SECTION 5.9
    	
 
    	
Investment   Company
    	
 
    	
10
    
	
SECTION 5.10
    	
 
    	
Perfection
    	
 
    	
10
    

 

	
 
    	
i

 
    	
Purchase and Sale Agreement

(            )
    

 

 

CONTENTS

 

	
Clause
    	
 
    	
Subject Matter
    	
 
    	
Page
    
	
SECTION 5.11
    	
 
    	
Creation   of Receivables
    	
 
    	
11
    
	
SECTION 5.12
    	
 
    	
Credit   and Collection Policy
    	
 
    	
11
    
	
SECTION 5.13
    	
 
    	
Enforceability   of Contracts
    	
 
    	
11
    
	
SECTION 5.14
    	
 
    	
Location   and Offices
    	
 
    	
11
    
	
SECTION 5.15
    	
 
    	
Good   Title
    	
 
    	
11
    
	
SECTION 5.16
    	
 
    	
Names
    	
 
    	
11
    
	
SECTION 5.17
    	
 
    	
Nature   of Receivables
    	
 
    	
11
    
	
SECTION 5.18
    	
 
    	
Bulk   Sales, Margin Regulations, No Fraudulent Conveyance
    	
 
    	
11
    
	
SECTION 5.19
    	
 
    	
Solvency
    	
 
    	
12
    
	
SECTION 5.20
    	
 
    	
Licenses,   Contingent Liabilities, and Labor Controversies
    	
 
    	
12
    
	
SECTION 5.21
    	
 
    	
Purchase   Price
    	
 
    	
12
    
	
SECTION 5.22
    	
 
    	
Location   of Mining Operations
    	
 
    	
12
    
	
SECTION 5.23
    	
 
    	
No   Material Adverse Effect
    	
 
    	
12
    
	
SECTION 5.24
    	
 
    	
Opinions
    	
 
    	
12
    
	
SECTION 5.25
    	
 
    	
Mortgages   Covering As-Extracted Collateral
    	
 
    	
12
    
	
SECTION 5.26
    	
 
    	
Reaffirmation   of Representations and Warranties by the Originator
    	
 
    	
12
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE VI
    
	
COVENANTS OF THE ORIGINATORS
    
	
13
    
	
 
    
	
SECTION 6.1
    	
 
    	
Affirmative   Covenants
    	
 
    	
13
    
	
SECTION 6.2
    	
 
    	
Reporting   Requirements
    	
 
    	
15
    
	
SECTION 6.3
    	
 
    	
Negative   Covenants
    	
 
    	
16
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE VII
    
	
ADDITIONAL RIGHTS AND OBLIGATIONS IN RESPECT OF RECEIVABLES
    
	
17
    
	
 
    
	
SECTION 7.1
    	
 
    	
Rights   of the Buyer
    	
 
    	
17
    
	
SECTION 7.2
    	
 
    	
Responsibilities   of the Originators
    	
 
    	
18
    
	
SECTION 7.3
    	
 
    	
Further   Action Evidencing Purchases
    	
 
    	
18
    
	
SECTION 7.4
    	
 
    	
Application   of Collections
    	
 
    	
18
    
	
SECTION 7.5
    	
 
    	
Performance   of Obligations
    	
 
    	
19
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE VIII
    
	
TERMINATION EVENTS
    
	
19
    
	
 
    
	
SECTION 8.1
    	
 
    	
Termination   Events
    	
 
    	
19
    
	
SECTION 8.2
    	
 
    	
Remedies
    	
 
    	
20
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE IX
    
	
INDEMNIFICATION
    
	
20
    
	
 
    
	
SECTION 9.1
    	
 
    	
Indemnities   by the Originators
    	
 
    	
20
    

 

ii

 

CONTENTS

 

	
Clause
    	
 
    	
Subject Matter
    	
 
    	
Page
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
ARTICLE X
    
	
MISCELLANEOUS
    
	
22
    
	
 
    
	
SECTION 10.1
    	
 
    	
Amendments,   etc.
    	
 
    	
22
    
	
SECTION 10.2
    	
 
    	
Notices,   etc.
    	
 
    	
22
    
	
SECTION 10.3
    	
 
    	
No   Waiver; Cumulative Remedies
    	
 
    	
22
    
	
SECTION 10.4
    	
 
    	
Binding   Effect; Assignability
    	
 
    	
23
    
	
SECTION 10.5
    	
 
    	
Governing   Law
    	
 
    	
23
    
	
SECTION 10.6
    	
 
    	
Costs,   Expenses and Taxes
    	
 
    	
23
    
	
SECTION 10.7
    	
 
    	
SUBMISSION   TO JURISDICTION
    	
 
    	
23
    
	
SECTION 10.8
    	
 
    	
WAIVER   OF JURY TRIAL
    	
 
    	
24
    
	
SECTION 10.9
    	
 
    	
Captions   and Cross References; Incorporation by Reference
    	
 
    	
24
    
	
SECTION 10.10
    	
 
    	
Execution   in Counterparts
    	
 
    	
24
    
	
SECTION 10.11
    	
 
    	
Severability
    	
 
    	
24
    
	
SECTION 10.12
    	
 
    	
Acknowledgment   and Agreement
    	
 
    	
24
    

 

iii

 

	
SCHEDULES
    
	
 
    
	
Schedule   I
    	
 
    	
List   of Originators
    	
 
    	
 
    
	
Schedule   II
    	
 
    	
Location   of Each Originator
    	
 
    	
 
    
	
Schedule   III
    	
 
    	
Location   of Books and Records of Each Originator
    	
 
    	
 
    
	
Schedule   IV
    	
 
    	
Trade   Names
    	
 
    	
 
    
	
Schedule   V
    	
 
    	
Location   of Mining Operations
    	
 
    	
 
    
	
Schedule   VI
    	
 
    	
Address   for Notices
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
EXHIBITS
    
	
 
    
	
Exhibit A
    	
 
    	
Form of   Purchase Report
    	
 
    	
 
    
	
Exhibit B
    	
 
    	
Form of   Joinder Agreement
    	
 
    	
 
    
	
Exhibit C
    	
 
    	
Form of   Demand Note
    	
 
    	
 
    

 

iv

 

THIS PURCHASE AND SALE AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), dated as of December 5, 2014, is entered into by and among the VARIOUS ENTITIES LISTED ON SCHEDULE I HERETO (each, an “Originator”; and collectively, “Originators”), and ALLIANCE RESOURCE OPERATING PARTNERS, L.P., a Delaware limited partnership (the “Buyer”).

 

DEFINITIONS

 

Unless otherwise indicated herein, capitalized terms used and not otherwise defined in this Agreement are defined in Section 1.01 to the Receivables Financing Agreement, dated as of the date hereof (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Receivables Financing Agreement”), among AROP Funding, LLC, as borrower (the “Borrower”), Alliance Coal, LLC, as initial Servicer (in such capacity as initial servicer, together with its successors and assigns in such capacity, the “Servicer”), the various Lenders and LC Participants from time to time party thereto, and PNC Bank, National Association, as Lender, as Administrative Agent, as LC Participant and as LC Bank.  All references herein to months are to calendar months unless otherwise expressly indicated.

 

BACKGROUND:

 

1.              The Originators are operating subsidiaries of the Buyer;

 

2.              The Originators generate Receivables in the ordinary course of their businesses;

 

3.              The Originators, in order to finance their respective businesses, wish to sell Receivables to the Buyer, and the Buyer is willing to purchase Receivables from the Originators, on the terms and subject to the conditions set forth herein;

 

4.              The Originators and the Buyer intend this transaction to be a true sale of Receivables by each Originator to the Buyer, providing the Buyer with the full benefits of ownership of the Receivables, and the Originators and the Buyer do not intend the transactions hereunder to be characterized as a loan from the Buyer to any Originator; and

 

5.              The Originators and the Buyer acknowledge that the Buyer will sell and contribute the Receivables purchased by it hereunder and the Related Security (together with accounts receivable originated by the Buyer and the Related Security) to the Borrower, from time to time, pursuant to that certain Sale and Contribution Agreement, dated as of the date hereof (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Sale and Contribution Agreement”), between the Buyer, as transferor (in such capacity, the “Transferor”) and the Borrower, as buyer, and that thereafter the Borrower will grant a security interest in the Receivables, Related Security and other rights to the Administrative Agent for the benefit of the Secured Parties under the Receivables Financing Agreement.

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:

 

 

ARTICLE I
 AGREEMENT TO PURCHASE AND SELL

 

SECTION 1.1  Agreement To Purchase and Sell.  On the terms and subject to the conditions set forth in this Agreement, each Originator, severally and for itself, agrees to sell to the Buyer, and the Buyer agrees to purchase from such Originator, from time to time on or after the Closing Date, but before the Purchase and Sale Termination Date (as defined in Section 1.4), all of such Originator’s right, title and interest in and to:

 

(a)                                 each Receivable of such Originator that existed and was owing to such Originator at the closing of such Originator’s business on the Cut-off Date (as defined below);

 

(b)                                 each Receivable generated by such Originator from and including the Cut-off Date to but excluding the Purchase and Sale Termination Date;

 

(c)                                  all rights to, but not the obligations of, such Originator under all Related Security with respect to any of the foregoing Receivables;

 

(d)                                 all monies due or to become due to such Originator with respect to any of the foregoing;

 

(e)                                  all books and records of such Originator to the extent related to any of the foregoing;

 

(f)                                   all Collections and other proceeds and products of any of the foregoing (as defined in the UCC) that are or were received by such Originator on or after the Cut-off Date, including, without limitation, all funds which either are received by such Originator, the Buyer or the Servicer from or on behalf of the Obligors in payment of any amounts owed (including, without limitation, invoice price, finance charges, interest and all other charges) in respect of any of the above Receivables or are applied to such amounts owed by the Obligors (including, without limitation, any insurance payments that such Originator, the Buyer or the Servicer applies in the ordinary course of its business to amounts owed in respect of any of the above Receivables, and net proceeds of sale or other disposition of repossessed goods or other collateral or property of the Obligors in respect of any of the above Receivables or any other parties directly or indirectly liable for payment of such Receivables); and

 

(g)                                  all rights, remedies, powers, privileges, title and interest (but not obligations) in and to the Lock-Box Accounts into which any Collections or other proceeds with respect to such Receivables may be deposited, and any related investment property acquired with any such Collections or other proceeds (as such term is defined in the applicable UCC).

 

All purchases hereunder are absolute and irrevocable and shall be made without recourse, but shall be made pursuant to, and in reliance upon, the representations, warranties and covenants of the Originators set forth in this Agreement and each of the other Transaction Documents to which such Originator is a party.  No obligation or liability to any Obligor on any

 

2

 

Receivable is intended to be assumed by the Buyer hereunder, and any such assumption is expressly disclaimed.  The Buyer’s foregoing commitment to purchase Receivables and the property, proceeds and rights described in clauses (c) through (g) (collectively, the “Related Rights”) is herein called the “Purchase Facility.”

 

As used herein, “Cut-off Date” means (a) with respect to each Originator party hereto on the date hereof, October 31, 2014, and (b) with respect to any Originator that first becomes a party hereto after the date hereof, the calendar day prior to the date on which such Originator becomes a party hereto or such other date as the Buyer and such Originator agree to in writing.

 

SECTION 1.2  Timing of Purchases.

 

(a)                                 Closing Date Purchases.  Each Originator’s entire right, title and interest in (i) each Receivable that existed and was owing to such Originator at the Cut-off Date, (ii) all Receivables created by such Originator from and including the Cut-off Date, to and including the Closing Date, and (iii) all Related Rights with respect thereto automatically shall be deemed to have been sold by such Originator to the Buyer on the Closing Date.

 

(b)                                 Subsequent Purchases.  After the Closing Date, until the Purchase and Sale Termination Date, each Receivable and the Related Rights generated by each Originator shall be deemed to have been sold by such Originator to the Buyer immediately (and without further action) upon the creation of such Receivable.

 

SECTION 1.3  Consideration for Purchases.  On the terms and subject to the conditions set forth in this Agreement, the Buyer agrees to make Purchase Price payments to the Originators in accordance with Article III.

 

SECTION 1.4  Purchase and Sale Termination Date.  The “Purchase and Sale Termination Date” shall be the earliest to occur of (a) the date the Purchase Facility is terminated pursuant to Section 8.2 and (b) the Payment Date (as defined in Section 2.2) immediately following the day on which the Originators shall have given written notice to the Buyer, the Borrower and the Administrative Agent at or prior to 10:00 a.m. (New York City time) that the Originators desire to terminate this Agreement.

 

SECTION 1.5  Intention of the Parties.  It is the express intent of each Originator and the Buyer that each conveyance by such Originator to the Buyer pursuant to this Agreement of the Receivables and all Related Rights be construed as a valid and perfected sale and absolute assignment (without recourse except as provided herein) of such Receivables and Related Rights by such Originator to the Buyer (rather than the grant of a security interest to secure a debt or other obligation of such Originator) and that the right, title and interest in and to such Receivables and Related Rights conveyed to the Buyer be prior to the rights of and enforceable against all other Persons at any time, including, without limitation, lien creditors, secured lenders, purchasers and any Person claiming through such Originator.  However, if, contrary to the mutual intent of the parties, any conveyance of Receivables and Related Rights is not construed to be both a valid and perfected sale and absolute assignment of such Receivables and Related Rights, and a conveyance of such Receivables and Related Rights that is prior to the rights of and enforceable against all other Persons at any time, including without limitation lien

 

3

 

creditors, secured lenders, purchasers and any Person claiming through such Originator, then, it is the intent of such Originator and the Buyer that (i) this Agreement also shall be deemed to be, and hereby is, a security agreement within the meaning of the UCC; and (ii) such Originator shall be deemed to have granted to the Buyer as of the Closing Date, and such Originator hereby grants to the Buyer, a security interest in, to and under all of such Originator’s right, title and interest in and to: (A) the Receivables and the Related Rights now existing and hereafter created by such Originator transferred or purported to be transferred hereunder, (B) all monies due or to become due and all amounts received with respect thereto, (C)  all books and records of such Originator to the extent related to any of the foregoing, (D) all rights, remedies, powers, privileges, title and interest (but not obligations) of such Originator in and to each lock-box address and account (including, without limitation, all related Lock-Box Accounts) to which Collections or other proceeds with respect to such Receivables are sent, all amounts on deposit therein, and any related investment property acquired with any such collections or other proceeds (as such term is defined in the applicable UCC) and (E) all proceeds and products of any of the foregoing to secure all of such Originator’s obligations hereunder.

 

ARTICLE II
 PURCHASE REPORT; CALCULATION OF PURCHASE PRICE

 

SECTION 2.1  Purchase Report.  On the Closing Date and on each date on which an Information Package is due to be delivered under the Receivables Financing Agreement (each such date, a “Monthly Purchase Report Date”), the Servicer shall deliver to the Buyer and each Originator a report in substantially the form of Exhibit A (each such report being herein called a “Purchase Report”) setting forth, among other things:

 

(a)                                 Receivables purchased by the Buyer from each Originator on the Closing Date (in the case of the Purchase Report to be delivered on the Closing Date);

 

(b)                                 Receivables purchased by the Buyer from each Originator during the immediately preceding Fiscal Month (in the case of each subsequent Purchase Report); and

 

(c)                                  the calculations of reductions of the Purchase Price for any Receivables as provided in Section 3.2(a) and (b).

 

SECTION 2.2  Calculation of Purchase Price.  The “Purchase Price” to be paid to each Originator for the Receivables that are purchased hereunder from such Originator shall be determined in accordance with the following formula:

 

	
PP
    	
=
    	
OB x FMVD
    
	
 
    	
 
    	
 
    
	
where:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
PP
    	
=
    	
Purchase Price for each Receivable as calculated   on the relevant Payment Date.
    
	
 
    	
 
    	
 
    
	
OB
    	
=
    	
The Outstanding Balance of such Receivable on the   relevant Payment Date.
    

 

4

 

	
FMVD
    	
=
    	
Fair Market Value Discount, as measured on such   Payment Date, which is equal to the quotient (expressed as percentage) of   (a) one divided by (b) the sum of (i) one, plus (ii) the   product of (A) the Prime Rate on such Payment Date, and (B) a   fraction, the numerator of which is the Days’ Sales Outstanding (calculated   as of the last Business Day of the calendar month immediately preceding such   Payment Date) and the denominator of which is 365.
    

 

“Payment Date” means (i) the Closing Date and (ii) each Business Day thereafter that the Originators are open for business.

 

“Prime Rate” means a per annum rate equal to the “Prime Rate” as published in the “Money Rates” section of The Wall Street Journal or if such information ceases to be published in The Wall Street Journal, such other publication as determined by the Servicer in its sole discretion.

 

ARTICLE III
 PAYMENT OF PURCHASE PRICE

 

SECTION 3.1  Purchases.

 

(a)                                 Initial Purchase Price Payment.  On the terms and subject to the conditions set forth in this Agreement, the Buyer agrees to pay to each Originator the Purchase Price for the purchase to be made from such Originator on the Closing Date (i) partially in cash (to the extent the Buyer has cash available from the sale of Receivables to Borrower and in an amount to be agreed between the Buyer and such Originator and set forth in the initial Purchase Report) and (ii) the remainder by issuing a promissory note in the form of Exhibit C to such Originator (each such promissory note, as it may be amended, supplemented, endorsed or otherwise modified from time to time, together with all promissory notes issued from time to time in substitution therefor or renewal thereof in accordance with the Transaction Documents, each being herein called a “Demand Note”) with an initial principal balance equal to the remaining Purchase Price payable to such Originator not paid in cash.

 

(b)                                 Subsequent Purchase Price Payments.  On each Payment Date subsequent to the Closing Date, on the terms and subject to the conditions set forth in this Agreement, the Buyer shall pay to each Originator the Purchase Price for the Receivables generated by such Originator on such Payment Date:

 

(i)   First, in cash to the extent the Buyer has cash available from the sale of Receivables to Borrower; and

 

(ii)   Second, to the extent any portion of the Purchase Price remains unpaid, the principal amount outstanding under the applicable Demand Note shall be automatically increased by an amount equal to the lesser of (x) such remaining unpaid portion of such Purchase Price and (y) the maximum increase in the principal amount of the applicable

 

5

 

Demand Note that could be made such that after giving effect thereto, the Buyer is Solvent;

 

provided, however, that if more than one Originator is selling Receivables to the Buyer on the date of such purchase, the Buyer shall make cash payments among the Originators in such a way as to minimize to the greatest extent practicable the aggregate principal amounts outstanding under the Demand Notes.

 

The Buyer shall cause the Servicer to make all appropriate record keeping entries with respect to each of the Demand Notes to reflect the foregoing payments and payments and reductions made pursuant to this Section 3.1 and Section 3.2, and the Servicer’s books and records shall constitute rebuttable presumptive evidence of the principal amount of, and accrued interest on, each of the Demand Notes at any time. Each Originator hereby irrevocably authorizes the Servicer to mark the Demand Notes “CANCELED” and to return such Demand Notes to the Buyer upon the final payment thereof after the occurrence of the Purchase and Sale Termination Date.

 

SECTION 3.2  Settlement as to Specific Receivables and Dilution.

 

(a)                                 If (i) on the day of purchase of any Receivable from an Originator hereunder, any of the representations or warranties set forth in Sections 5.10, 5.15 and 5.17 are not true with respect to such Receivable or (ii) as a result of any action or inaction (other than solely as a result of the failure to collect such Receivable due to a discharge in bankruptcy or similar insolvency proceeding or other credit related reasons with respect to the relevant Obligor) of such Originator, on any subsequent day, any of such representations or warranties set forth in Sections 5.10, 5.15 and 5.17 is no longer true with respect to such Receivable, then the Purchase Price with respect to such Receivable shall be reduced by an amount equal to the Outstanding Balance of such Receivable and shall be accounted to such Originator as provided in clause (c) below; provided, that if the Buyer thereafter receives payment on account of Collections due with respect to such Receivable, the Buyer promptly shall deliver such funds to such Originator.

 

(b)                                 If, on any day, the Outstanding Balance of any Receivable purchased hereunder is reduced or adjusted as a result of any defective, rejected, returned, repossessed or foreclosed goods or services, or any revision, cancellation, allowance, rebate, discount or other adjustment made by any Originator, the Buyer (at the direction of or on behalf of an Originator or the Servicer) or the Servicer (or any Affiliate thereof) or any setoff or dispute between any Originator or the Servicer (or any Affiliate thereof) and an Obligor, as indicated on the books of the Buyer (or, for periods prior to the Closing Date, the books of such Originator), then the Purchase Price with respect to such Receivable shall be reduced by the amount of such net reduction and shall be accounted to such Originator as provided in clause (c) below.

 

(c)                                  Any reduction in the Purchase Price of any Receivable pursuant to clause (a) or (b) above shall be applied as a credit for the account of the Buyer against the Purchase Price of Receivables subsequently purchased by the Buyer from such Originator hereunder; provided, however if there have been no purchases of Receivables from such Originator (or insufficiently large purchases of Receivables) to create a Purchase Price sufficient to so apply such credit against, the amount of such credit:

 

6

 

(i)                                     to the extent of any outstanding principal balance under the Demand Note payable to such Originator, shall be deemed to be a payment under, and shall be deducted from the principal amount outstanding under, the Demand Note payable to such Originator; and

 

(ii)                                  after making any deduction pursuant to clause (i) above, shall be paid in cash to the Buyer by such Originator.

 

SECTION 3.3  Reconveyance of Receivables.  In the event that an Originator has paid to the Buyer the full Outstanding Balance of any Receivable pursuant to Section 3.2, the Buyer shall reconvey such Receivable to such Originator, without representation or warranty, but free and clear of all liens, security interests, charges, and encumbrances created by the Buyer.

 

ARTICLE IV
 CONDITIONS OF PURCHASES

 

SECTION 4.1  Conditions Precedent to Initial Purchase.  The initial purchase hereunder is subject to the condition precedent that the Buyer shall have received, on or before the Closing Date, the following, each (unless otherwise indicated) dated the Closing Date, and each in form and substance satisfactory to the Buyer:

 

(a)                                 A copy of the resolutions of the board of directors or managers of each Originator approving this Agreement and the other Transaction Documents to be executed and delivered by it and the transactions contemplated hereby and thereby, certified by the Secretary or Assistant Secretary of such Originator;

 

(b)                                 Good standing certificates for each Originator issued as of a recent date acceptable to the Buyer by the Secretary of State (or similar official) of the jurisdiction of such Originator’s organization;

 

(c)                                  A certificate of the Secretary or Assistant Secretary of each Originator certifying the names and true signatures of the officers authorized on such Person’s behalf to sign the Transaction Documents to be executed and delivered by it (on which certificate the Servicer, the Buyer, the Borrower and the Administrative Agent may conclusively rely until such time as the Servicer, the Buyer, the Borrower and the Administrative Agent shall receive from such Person a revised certificate meeting the requirements of this clause (c));

 

(d)                                 The certificate or articles of incorporation or formation or other organizational document of each Originator (including all amendments and modifications thereto) duly certified by the Secretary of State (or similar official) of the jurisdiction of such Originator’s organization as of a recent date, together with a copy of the by-laws or limited liability company agreement of such Originator (including all amendments and modifications thereto), each duly certified by the Secretary or an Assistant Secretary of such Originator;

 

(e)                                  Originals of the proper financing statements (Form UCC-1) that have been duly authorized and name each Originator as the debtor/seller and the Buyer as the buyer/assignor (and the Administrative Agent, for the benefit of the Secured Parties, as secured party/assignee) of the Receivables generated by such Originator as may be necessary or, in the

 

7

 

Buyer’s opinion, desirable under the UCC of all appropriate jurisdictions to perfect the Buyer’s ownership interest in all Receivables and such other rights, accounts, instruments and moneys (including, without limitation, Related Security) in which an ownership or security interest has been assigned to it hereunder;

 

(f)                                   A written search report from a Person satisfactory to the Buyer listing all effective financing statements that name the Originators as debtors or sellers and that are filed in all jurisdictions in which filings may be made against such Person pursuant to the applicable UCC, together with copies of such financing statements (none of which, except for those described in the foregoing clause (e) (and/or released or terminated as the case may be on or prior to the date hereof), shall cover any Receivable or any Related Rights which are to be sold to the Buyer hereunder), and tax, ERISA and judgment lien search reports from a Person satisfactory to the Buyer showing no evidence of such liens filed against any Originator;

 

(g)                                  Favorable opinions of counsel to the Originators, in form and substance satisfactory to the Buyer;

 

(h)                                 A Demand Note in favor of each Originator, duly executed by the Buyer; and

 

(i)                                     Evidence (i) of the execution and delivery by each of the parties thereto of each of the other Transaction Documents to be executed and delivered in connection herewith and (ii) that each of the conditions precedent to the execution, delivery and effectiveness of such other Transaction Documents has been satisfied to the Buyer’s satisfaction.

 

SECTION 4.2  Certification as to Representations and Warranties.  Each Originator, by accepting the Purchase Price related to each purchase of Receivables generated by such Originator, shall be deemed to have certified that the representations and warranties contained in Article V, as from time to time amended in accordance with the terms hereof, are true and correct on and as of such day, with the same effect as though made on and as of such day (except for representations and warranties which apply to an earlier date, in which case such representations and warranties shall be true and correct as of such earlier date).

 

SECTION 4.3  Additional Originators.  Additional Persons may be added as Originators hereunder, with the prior written consent of the Buyer, the Administrative Agent and each Lender (which consents may be granted or withheld in their sole discretion); provided that the following conditions are satisfied or waived in writing by the Buyer, the Administrative Agent and each Lender on or before the date of such addition:

 

(a)                                 The Buyer or Servicer shall have given the Administrative Agent at least thirty days prior written notice of such proposed addition and the identity of the proposed additional Originator and shall have provided such other information with respect to such proposed additional Originator as the Administrative Agent may reasonably request;

 

(b)                                 such proposed additional Originator has executed and delivered to the Buyer and the Administrative Agent an agreement substantially in the form attached hereto as Exhibit B (a “Joinder Agreement”);

 

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(c)                                  such proposed additional Originator has delivered to the Buyer, the Borrower and the Administrative Agent (as the total assignee of the Buyer) each of the documents with respect to such Originator described in Sections 4.1 and 4.3, in each case in form and substance satisfactory to the Buyer, Borrower and the Administrative Agent (as the total assignee of the Buyer);

 

(d)                                 no Termination Event or Unmatured Termination Event shall have occurred and be continuing; and

 

(e)                                  the Purchase and Sale Termination Date shall not have occurred.

 

ARTICLE V
 REPRESENTATIONS AND WARRANTIES OF THE ORIGINATORS

 

In order to induce the Buyer to enter into this Agreement and to make purchases hereunder, each Originator hereby represents and warrants with respect to itself as follows:

 

SECTION 5.1  Existence and Power.  Such Originator is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, and has all power and authority and all governmental licenses, authorizations, consents and approvals required to carry on its business in each jurisdiction in which its business is conducted except if failure to have such licenses, authorizations, consents or approvals could not reasonably be expected to have a Material Adverse Effect.

 

SECTION 5.2  Company and Governmental Authorization, Contravention.  The execution, delivery and performance by such Originator of this Agreement are (a) within such Originator’s company powers, (b) have been duly authorized by all necessary company action, (c) require no action by or in respect of, or filing with (other than the filing of the UCC financing statements and continuation statements contemplated hereunder), any governmental body, agency or official, (d) do not contravene, or constitute a default under, any provision (i) of Applicable Law, (ii) of the organizational documents of such Originator or (iii) of any agreement, judgment, injunction, order, decree or other instrument binding upon such Originator, where such contravention or default, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect, or (e) result in the creation or imposition of Adverse Claim on assets of such Originator or any of its Subsidiaries.

 

SECTION 5.3  Binding Effect of Agreement.  This Agreement and each of the other Transaction Documents to which it is a party constitutes the legal, valid and binding obligation of such Originator enforceable against such Originator in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity, regardless of whether enforceability is considered in a proceeding in equity or at law.

 

SECTION 5.4  Accuracy of Information.  All information heretofore furnished by such Originator to the Buyer or the Administrative Agent pursuant to or in connection with this Agreement or any other Transaction Document or any transaction contemplated hereby or thereby is, and all such information hereafter furnished by such Originator to the Buyer or the Administrative Agent in writing pursuant to this Agreement or any Transaction Document will

 

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be, true and accurate in all material respects on the date such information is stated or certified (provided that with respect to any projected financial information, such Originator represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time).

 

SECTION 5.5  Actions, Suits.  There are no actions, suits or proceedings pending or, to the best of such Originator’s knowledge, threatened against or affecting such Originator or any of its Affiliates or their respective properties, in or before any court, arbitrator or other body, which could reasonably be expected to have a Material Adverse Effect.

 

SECTION 5.6  Taxes.  Such Originator has filed or caused to be filed all U.S. federal income tax returns and all other material returns, statements, forms and reports for taxes, domestic or foreign, required to be filed by it and has paid all taxes payable by it which have become due or any assessments made against it or any of its property and all other material taxes, fees or other charges imposed on it or any of its property by any Governmental Authority, except to the extent that such taxes are being contested in good faith by appropriate proceedings and for which such reserves or other appropriate provisions, if any, as are required by GAAP shall have been made.

 

SECTION 5.7  Compliance with Applicable Laws.  Such Originator is in compliance with the requirements of all Applicable Laws, rules, regulations and orders of all Governmental Authorities except to the extent that the failure to comply could not reasonably be expected to have a Material Adverse Effect.  In addition, no Receivable sold hereunder contravenes any Applicable Laws, rules or regulations applicable thereto or to such Originator.

 

SECTION 5.8  Reliance on Separate Legal Identity.  Such Originator acknowledges that each of the Credit Parties is entering into the Transaction Documents to which it is a party in reliance upon the Borrower’s identity as a legal entity separate from such Originator and the Buyer.

 

SECTION 5.9  Investment Company.  Such Originator is not an “investment company,” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended.  In addition, such Originator is not a “holding company,” a “subsidiary company” of a “holding company” or an “affiliate” of a “holding company” or of a “subsidiary company” of a “holding company” within the meaning of the Public Utility Holding Company Act of 1935, as amended.

 

SECTION 5.10  Perfection.  Immediately preceding its sale of each Receivable hereunder, such Originator was the owner of such Receivable sold or purported to be sold, free and clear of any Adverse Claims, and each such sale hereunder constitutes a valid sale, transfer and assignment of all of such Originator’s right, title and interest in, to and under the Receivables sold by it, free and clear of any Adverse Claims. On or before the date hereof and before the generation by such Originator of any new Receivable to be sold or otherwise conveyed hereunder, all financing statements and other documents, if any, required to be recorded or filed in order to perfect and protect the Buyer’s ownership interest in such Receivable against all creditors of and purchasers from such Originator will have been duly filed in each filing office necessary for such purpose, and all filing fees and taxes, if any, payable in connection with such

 

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filings shall have been paid in full.  Each such financing statement, filed with respect to such Receivable as an as-extracted collateral filing, includes a complete and correct description of the real property related to such Receivable as extracted collateral, as contemplated by the UCC, and names a record owner of the real property.

 

SECTION 5.11  Creation of Receivables.  Such Originator has exercised at least the same degree of care and diligence in the creation of the Receivables sold or otherwise conveyed hereunder as it has exercised in connection with the creation of receivables originated by it and not so transferred hereunder.

 

SECTION 5.12  Credit and Collection Policy.  Such Originator has complied in all material respects with its Credit and Collection Policy in regard to each Receivable sold by it hereunder and the related Contract.

 

SECTION 5.13  Enforceability of Contracts.  Each Contract related to any Receivable sold by such Originator hereunder is effective to create, and has created, a legal, valid and binding obligation of the related Obligor to pay the outstanding balance of such Receivable, enforceable against the Obligor in accordance with its terms (except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity, regardless of whether enforceability is considered in a proceeding in equity or at law), without being subject to any defense, deduction, offset or counterclaim and such Originator has fully performed its obligations under such Contract.

 

SECTION 5.14  Location and Offices.  As of the Closing Date, such Originator’s location (as such term is defined in the applicable UCC) is in the state set forth on Schedule II hereto, and such location has not been changed for at least four months before the date hereof.  The offices where such Originator keeps all records concerning the Receivables are located at the addresses set forth on Schedule III hereto or such other locations of which the Buyer and the Administrative Agent has been given written notice in accordance with the terms hereof.

 

SECTION 5.15  Good Title.  Upon the creation of each new Receivable sold or otherwise conveyed or purported to be conveyed hereunder and on the Closing Date for then existing Receivables, the Buyer shall have a valid and perfected first priority ownership interest in each Receivable sold to it hereunder, free and clear of any Adverse Claim.

 

SECTION 5.16  Names.  Except as described in Schedule IV, such Originator has not used any corporate or company names, tradenames or assumed names other than its name set forth on the signature pages of this Agreement.

 

SECTION 5.17  Nature of Receivables.  Except as otherwise set forth on the related Purchase Report, each Receivable purchased hereunder is, on the date of such purchase, an Eligible Receivable.

 

SECTION 5.18  Bulk Sales, Margin Regulations, No Fraudulent Conveyance.  No transaction contemplated hereby requires compliance with or will become subject to avoidance under any bulk sales act or similar law.  No use of funds obtained by such Originator hereunder will conflict with or contravene Regulation T, U or X of the Federal Reserve Board.

 

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No purchase hereunder constitutes a fraudulent transfer or conveyance under any United States federal or applicable state bankruptcy or insolvency laws or is otherwise void or voidable under such or similar laws or principles or for any other reason.

 

SECTION 5.19  Solvency.  On the date hereof, and on the date of each purchase hereunder (both before and after giving effect to such purchase), such Originator shall be Solvent.

 

SECTION 5.20  Licenses, Contingent Liabilities, and Labor Controversies.

 

(a)                                 Such Originator has not failed to obtain any licenses, permits, franchises or other governmental authorizations necessary to the ownership of its properties or to the conduct of its business, except such failures to have such licenses, permits, franchises or other governmental authorizations that could not reasonably be expected to have a Material Adverse Effect.

 

(b)                                 There are no labor controversies pending against such Originator that have had (or could reasonably be expected to have) a Material Adverse Effect.

 

SECTION 5.21  Purchase Price.  Each sale by such Originator to Buyer of an interest in Receivables has been made for “reasonably equivalent value” (as such term is used in Section 548 of the Bankruptcy Code) and not for or on account of “antecedent debt” (as such term is used in Section 547 of the Bankruptcy Code) owed by such Originator to Buyer.

 

SECTION 5.22  Location of Mining Operations.  The location of each Originator’s mining operations and names of each minehead relating thereto are as set forth on Schedule V hereto.  Each Receivable of such Originator (other than as set forth on Schedule V) arose from the sale at such minehead of minerals in which such Originator had an interest before extraction, which minerals were located in the real property described on Schedule V, as such Schedule V may be amended or supplemented in accordance with Section 6.1(j) (such property being referred to hereunder, as the “Mined Properties”).

 

SECTION 5.23  No Material Adverse Effect.  Since June 30, 2014 there has been no Material Adverse Effect with respect to such Originator.

 

SECTION 5.24  Opinions.  The facts regarding such Originator, the Receivables, the Related Security and the related matters set forth or assumed in each of the opinions of counsel delivered in connection with this Agreement and the Transaction Documents are true and correct in all material respects.

 

SECTION 5.25  Mortgages Covering As-Extracted Collateral.  There are no mortgages that are effective as financing statements covering as-extracted collateral and that name such Originator as grantor, debtor or words of similar effect filed or recorded in any jurisdiction.

 

SECTION 5.26  Reaffirmation of Representations and Warranties by the Originator.  On each day that a new Receivable is created, and when sold to the Buyer hereunder, such Originator shall be deemed to have certified that all representations and warranties set forth in this Article V are true and correct on and as of such day (except for representations and

 

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warranties which apply as to an earlier date (in which case such representations and warranties shall be true and correct as of such earlier date)).

 

ARTICLE VI
 COVENANTS OF THE ORIGINATORS

 

SECTION 6.1  Affirmative Covenants.  At all times from the date hereof until the Final Payout Date, each Originator shall, unless the Buyer and the Administrative Agent shall otherwise consent in writing:

 

(a)                                 General Information.  Furnish to the Buyer and the Administrative Agent such information as the Buyer or the Administrative Agent (as total assignee of the Buyer) may from time to time reasonably request.

 

(b)                                 Furnishing of Information and Inspection of Records.  Furnish to the Buyer and the Administrative Agent from time to time such information with respect to the Receivables as such Person may reasonably request.  Such Originator will, at such Originator’s expense, during regular business hours upon reasonable prior written notice (i) permit each of the Buyer and Administrative Agent, or their respective agents or representatives, (A) to examine and make copies of and abstracts from all books and records relating to the Receivables or other Collateral and (B) to visit the offices and properties of such Originator for the purpose of examining such books and records, and to discuss matters relating to the Receivables, other Related Rights or such Originator’s performance hereunder or under the other Transaction Documents to which it is a party with any of the officers, directors, employees or independent public accountants of such Originator having knowledge of such matters and (ii) without limiting the provisions of clause (i) above, during regular business hours, at Originator’s expense, upon reasonable prior written notice from the Buyer or the Administrative Agent, as applicable, permit certified public accountants or other auditors acceptable to the Administrative Agent to conduct, a review of its books and records with respect to the Receivables; provided, that such Originator shall only be responsible for the expenses incurred in connection with one (1) review for any calendar year pursuant to this clause (ii), so long as no Termination Event has occurred.

 

(c)                                  Keeping of Records and Books.  Have and maintain (i) administrative and operating procedures (including (i) an ability to recreate records if originals are destroyed and (ii) procedures to identify and track sales with respect to, and collections on, Excluded Receivables), (ii) adequate facilities, personnel and equipment and (iii) all records and other information reasonably necessary for collection of the Receivables and the identification and reporting of all Excluded Receivables originated by such Originator (including records adequate to permit the daily identification of each new such Receivable and Excluded Receivables and all Collections of, and adjustments to, each existing such Receivable and such Excluded Receivable).  Such Originator will give the Buyer and the Administrative Agent prior notice of any change in such administrative and operating procedures that causes them to be materially different from the procedures described to the Buyer and the Administrative Agent on or before the date hereof as such Originator’s then existing or planned administrative and operating procedures for collecting Receivables and Excluded Receivables.

 

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(d)                                 Performance and Compliance with Receivables and Contracts.  Timely and fully perform and comply, at its own expense, in all material respects with all provisions, covenants and other promises required to be observed by it under all Contracts or other documents or agreements related to the Receivables.

 

(e)                                  Credit and Collection Policy.  Comply in all material respects with its Credit and Collection Policy in regard to each Receivable originated by it and any related Contract or other related document or agreement.

 

(f)                                   Preservation of Existence.  Preserve and maintain its existence as a corporation or limited liability company, as applicable, and all rights, franchises and privileges in the jurisdiction of its organization, and qualify and remain qualified in good standing as a foreign corporation or limited liability company, as applicable, in each jurisdiction where the failure to preserve and maintain such existence, rights, franchises, privileges and qualification could be reasonably expected to have a Material Adverse Effect.

 

(g)                                  Location of Records.  Keep its location (as such term is defined in the applicable UCC), and the offices where it keeps its records concerning or related to Receivables, at the address(es) referred to in Schedule II or Schedule III, respectively, or, upon 30 days’ prior written notice to the Buyer and the Administrative Agent, at such other locations in jurisdictions where all action required by Section 7.3 shall have been taken and completed.

 

(h)                                 Data Records.  Place and maintain on its summary master control data processing records the following legend (or the substantive equivalent thereof):  “THE RECEIVABLES DESCRIBED HEREIN HAVE BEEN SOLD TO ALLIANCE RESOURCE OPERATING PARTNERS, L.P., PURSUANT TO A PURCHASE AND SALE AGREEMENT, DATED AS OF DECEMBER 5, 2014; AND A SECURITY INTEREST IN THE RECEIVABLES DESCRIBED HEREIN HAS BEEN GRANTED TO PNC BANK, NATIONAL ASSOCIATION UNDER A RECEIVABLES FINANCING AGREEMENT, DATED AS OF DECEMBER 5, 2014.”

 

(i)                                     Preservation of Security Interest.  Take (or cause to be taken) any and all action as Buyer or the Administrative Agent may require to preserve and maintain the perfection and priority of the security interest of the Administrative Agent in the Receivables and Related Rights.

 

(j)                                    Mining Operations and Mineheads.  Promptly, and in any event within 30 days of any change, deletion or addition to the location of such Originator’s Mined Properties or mineheads set forth on Schedule V hereto, (i) notify the Buyer and Administrative Agent of such change, deletion or addition, (ii) cause the filing or recording of such financing statements and amendments to financing statements necessary to preserve and maintain the perfection and priority of each of the security interests in the Receivables, in favor of the Buyer, the Borrower, and Administrative Agent (for the benefit of the Secured Parties), created pursuant to the Sale Agreements and the Receivables Financing Agreement, as applicable, in each case in form and substance satisfactory to the Administrative Agent and (iii) deliver to the Buyer and Administrative Agent an updated Schedule V hereto reflecting such change, deletion or addition; it being understood that no Receivable, the related location of mining operations and/or

 

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mineheads of which is not as set forth on Schedule V hereto as of such date of determination shall be an Eligible Receivable until such time as each condition under this clause (j) shall have been satisfied (and upon such satisfaction, this Agreement shall be deemed amended to reflect such updated Schedule V hereto).

 

(k)                                 Payments on Receivables, Lock-Box Accounts.  Instruct all Obligors to deliver payments on the Receivables to a Lock-Box Account or a Lock-Box.  Such Originator shall, at all times, maintain such books and records necessary to identify Collections received from time to time on Receivables and to segregate such Collections from other property of such Originator.  If any payments on the Receivables or other Collections are received by such Originator, it shall hold such payments in trust for the benefit of the Buyer and Administrative Agent (for the benefit of the Secured Parties) and promptly (but in any event within two (2) Business Day after receipt) remit such funds into a Lock-Box Account.  Such Originator will not permit funds other than (i) Collections on Receivables and other Collateral and (ii) collections on Excluded Receivables, to be deposited into any Lock-Box Account.  If such funds or any collections on Excluded Receivables are nevertheless deposited into any Lock-Box Account, such Originator will within two (2) Business Days of receipt identify and transfer such funds to the appropriate Person entitled to such funds.  Such Originator will not commingle Collections with any other funds (other than the temporary commingling of Collections with collections on Excluded Receivables provided that such collections on Excluded Receivables are identified and removed from the applicable Lock-Box Account within two (2) Business Days following receipt thereof).

 

(l)                                     Frequency of Billing.  Prepare and deliver (or cause to be prepared and delivered) invoices with respect to all Receivables in accordance with the Credit and Collection Policies, but in any event no less frequently than as required under the Contract related to such Receivable.

 

SECTION 6.2  Reporting Requirements.  From the date hereof until the first day following the Purchase and Sale Termination Date, each Originator will, unless the Buyer and the Administrative Agent shall otherwise consent in writing, furnish to the Buyer and the Administrative Agent:

 

(a)                                 Termination Events.  As soon as possible, and in any event within five (5) Business Days after such Originator becomes aware of the occurrence of each “Termination Event” hereunder or each event which with notice or the passage of time or both would become such a “Termination Event” (an “Unmatured Termination Event”), a written statement of a Financial Officer or other Responsible Officer of such Originator describing such Termination Event or Unmatured Termination Event and the action that such Originator proposes to take with respect thereto, in each case in reasonable detail;

 

(b)                                 Proceedings.  As soon as possible, and in any event within five (5) Business Days after such Originator becomes aware thereof, written notice of (i) litigation, investigation or proceeding of the type described in Section 5.5 not previously disclosed to the Buyer and the Administrative Agent which could reasonably be expected to have a Material Adverse Effect, and (ii) all material adverse developments that have occurred with respect to any previously disclosed litigation, proceedings and investigations; and

 

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(c)                                  Other.  Promptly, from time to time, such other information, documents, records or reports respecting the Receivables or the conditions or operations, financial or otherwise, of such Originator as the Buyer or the Administrative Agent may from time to time reasonably request in order to protect the interests of the Buyer, the Administrative Agent or the Lenders under or as contemplated by the Transaction Documents.

 

SECTION 6.3  Negative Covenants.  At all times from the date hereof until the Final Payout Date, each Originator agrees that, unless the Buyer and the Administrative Agent shall otherwise consent in writing, it shall not:

 

(a)                                 Sales, Liens, Etc.  Except as otherwise provided herein or in any other Transaction Document, sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Adverse Claim upon or with respect to, any Receivable sold or otherwise conveyed or purported to be sold or otherwise conveyed hereunder or related Contract or Related Security, or any interest therein, or any Collections thereon, or assign any right to receive income in respect thereof.

 

(b)                                 Extension or Amendment of Receivables.  Except as otherwise permitted in Section 9.02 of the Receivables Financing Agreement and the applicable Credit and Collection Policy, extend, amend or otherwise modify the terms of any Receivable in any material respect generated by it that is sold or otherwise conveyed hereunder, or amend, modify or waive, in any material respect, any term or condition of any Contract related thereto (which term or condition relates to payments under, or the enforcement of, such Contract as it relates to such Receivable (nothing herein preventing the amendment, modification or waiver under a Contract with respect to future Receivables so long as an Event of Default has not occurred and is continuing)).

 

(c)                                  Change in Business or Credit and Collection Policy.  (i) Make any change in the character of its business or (ii) make any change in its Credit and Collection Policy that could reasonably be expected to have a Material Adverse Effect, in the case of either clause (i) or (ii) above, without the prior written consent of the Administrative Agent, which consent shall not be unreasonably withheld, conditioned or delayed.  No Originator shall make any other written change in any Credit and Collection Policy without giving prior written notice thereof to the Administrative Agent.

 

(d)                                 Receivables Not to be Evidenced by Promissory Notes or Chattel Paper.  Take any action to cause or permit any Receivable generated by it that is sold by it hereunder to become evidenced by any “instrument” or “chattel paper” (as defined in the applicable UCC).

 

(e)                                  Mergers, Acquisitions, Sales, etc.  (i) Be a party to any merger, consolidation or other restructuring, except (A) a merger of one Originator into another Originator (with an Originator being the surviving entity),  (B) a Simplification Transaction or (C) any other merger, consolidation or other restructuring where the Buyer and the Administrative Agent have each (1) received 30 days’ prior notice thereof, (2) consented in writing thereto, which consent shall not be unreasonably withheld, conditioned or delayed, (3) received executed copies of all documents, certificates and opinions (including, without limitation, opinions relating to bankruptcy and UCC matters) as the Buyer or the Administrative Agent shall reasonably request and (4) been satisfied that all other action to perfect and protect

 

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the interests of the Buyer and the Administrative Agent, on behalf of the Credit Parties, in and to the Receivables to be sold by it hereunder and other Related Rights, as reasonably requested by the Buyer or the Administrative Agent shall have been taken by, and at the expense of such Originator (including the filing of any UCC financing statements, the receipt of certificates and other requested documents from public officials and all such other actions required pursuant to Section 7.3) or (ii) directly or indirectly sell, transfer, assign, convey or lease whether in one or a series of transactions, all or substantially all of its assets (other than (x) in accordance with the Transaction Documents, (y) pursuant to the prior written consent of the Buyer and the Administrative Agent, which consent shall not be unreasonably withheld, conditioned or delayed or (z) a sale, transfer, assignment, conveyance or leasing of assets to Buyer or any of Buyer’s Subsidiaries where the Buyer and the Administrative Agent have each (1) received 30 days’ prior notice thereof, (2) received executed copies of all documents, certificates and opinions (including, without limitation, opinions relating to bankruptcy and UCC matters) as the Buyer or the Administrative Agent shall reasonably request and (3) been satisfied that all other action to perfect and protect the interests of the Buyer and the Administrative Agent, on behalf of the Credit Parties, in and to the Receivables to be sold by it hereunder and other Related Rights, as reasonably requested by the Buyer or the Administrative Agent shall have been taken by, and at the expense of such Originator (including the filing of any UCC financing statements, the receipt of certificates and other requested documents from public officials and all such other actions required pursuant to Section 7.3)).

 

(f)                                   No Change in Name, Identity or Corporate Structure.  Change its name, identity, corporate structure or jurisdiction of organization, in any case, unless the Buyer and the Administrative Agent have each (1) received 30 days’ prior notice thereof, (2) received executed copies of all documents, certificates and opinions (including, without limitation, opinions relating to UCC matters) as the Buyer or the Administrative Agent shall reasonably request and (3) been satisfied that all other action to perfect and protect the interests of the Buyer and the Administrative Agent, on behalf of the Credit Parties, in and to the Receivables to be sold by it hereunder and other Related Rights, as reasonably requested by the Buyer or the Administrative Agent shall have been taken by, and at the expense of such Originator (including the filing of any UCC financing statements, the receipt of certificates and other requested documents from public officials and all such other actions required pursuant to Section 7.3).

 

(g)                                  Lock-Box Banks.  Add or terminate any a Lock-Box Account (or a related Lock-Box) or a Lock-Box Bank unless the requirements of Section 8.01(h) and 8.02(f) of the Receivables Financing Agreement have been met.

 

(h)                                 Accounting for Purchases.  Account for or treat (whether in financial statements or otherwise) the transactions contemplated hereby in any manner other than as sales of the Receivables and Related Rights by such Originator to the Buyer.

 

ARTICLE VII
 ADDITIONAL RIGHTS AND OBLIGATIONS
 IN RESPECT OF RECEIVABLES

 

SECTION 7.1  Rights of the Buyer.   Each Originator hereby authorizes the Buyer, the Borrower, the Servicer and their respective designees or assignees under this Agreement, the

 

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Sale and Contribution Agreement or the Receivables Financing Agreement (including, without limitation, the Administrative Agent) to take any and all steps in such Originator’s name necessary or desirable, in their respective determination, to collect all amounts due under any and all Receivables sold or otherwise conveyed or purported to be conveyed by it hereunder, including, without limitation, endorsing the name of such Originator on checks and other instruments representing Collections and enforcing such Receivables and the provisions of the related Contracts that concern payment and/or enforcement of rights to payment; provided, however, the Administrative Agent shall not take any of the foregoing actions unless a Termination Event or an Event of Default has occurred and is continuing.

 

SECTION 7.2  Responsibilities of the Originators.  Anything herein to the contrary notwithstanding:

 

(a)                                 [Reserved].

 

(b)                                 Each Originator shall perform its obligations hereunder, and the exercise by the Buyer or its designee of its rights hereunder shall not relieve such Originator from such obligations.

 

(c)                                  None of the Buyer, the Borrower, the Servicer, the Administrative Agent or any other Credit Party shall have any obligation or liability to any Obligor or any other third Person with respect to any Receivables, Contracts related thereto or any other related agreements, nor shall the Buyer, the Borrower, the Servicer, the Administrative Agent or any other Credit Party be obligated to perform any of the obligations of such Originator thereunder.

 

(d)                                 Each Originator hereby grants to the Buyer and Administrative Agent an irrevocable power of attorney, with full power of substitution, coupled with an interest, during the occurrence and continuation of a Termination Event or an Event of Default to take in the name of such Originator all steps necessary or advisable to endorse, negotiate or otherwise realize on any writing or other right of any kind held or transmitted by such Originator or transmitted or received by the Buyer (whether or not from such Originator) in connection with any Receivable sold or otherwise conveyed or purported to be conveyed by it hereunder or Related Right.

 

SECTION 7.3  Further Action Evidencing Purchases.  Each Originator agrees that from time to time, at its expense, it will promptly execute and deliver all further instruments and documents, and take all further action that the Buyer or Administrative Agent may reasonably request in order to perfect, protect or more fully evidence the Receivables and Related Rights purchased by the Buyer hereunder, or to enable the Buyer to exercise or enforce any of its rights hereunder or under any other Transaction Document.  Without limiting the generality of the foregoing, upon the request of the Buyer or the Administrative Agent, such Originator will execute (if applicable), authorize and file such financing or continuation statements, or amendments thereto or assignments thereof, and such other instruments or notices, as may be necessary or appropriate.

 

Each Originator hereby authorizes each of the Buyer and the Administrative Agent to file one or more financing or continuation statements, and amendments thereto and assignments thereof,

 

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without the signature of such Originator, relative to all or any of the Receivables sold or otherwise conveyed or purported to be conveyed by it hereunder and Related Rights now existing or hereafter generated by such Originator.  If any Originator fails to perform any of its agreements or obligations under this Agreement, the Buyer or the Administrative Agent may (but shall not be required to) itself perform, or cause the performance of, such agreement or obligation, and the expenses of the Buyer and the Administrative Agent incurred in connection therewith shall be payable by such Originator.

 

SECTION 7.4  Application of Collections.  Any payment by an Obligor in respect of any indebtedness owed by it to any Originator shall, except as otherwise specified by such Obligor (including in any Contract or pursuant to any written agreement between such Obligor and the related Originator) or required by Applicable Law and unless otherwise instructed by the Servicer (with the prior written consent of the Administrative Agent) or the Administrative Agent, be applied as a Collection of any Receivable or Receivables of such Obligor to the extent of any amounts then due and payable thereunder (such application to be made starting with the oldest outstanding Receivable or Receivables) before being applied to any other indebtedness of such Obligor.

 

SECTION 7.5  Performance of Obligations.  Each Originator shall (i) perform all of its obligations under the Contracts related to the Receivables generated by such Originator to the same extent as if interests in such Receivables had not been transferred hereunder, and the exercise by the Buyer, the Borrower or the Administrative Agent of its rights hereunder shall not relieve any Originator from any such obligations and (ii) pay when due any taxes, including, without limitation, any sales taxes payable in connection with the Receivables generated by such Originator and their creation and satisfaction.

 

ARTICLE VIII
 TERMINATION EVENTS

 

SECTION 8.1  Termination Events.  Each of the following events or occurrences described in this Section 8.1 shall constitute a “Termination Event”:

 

(a)                                 The Termination Date (as defined in the Receivables Financing Agreement) shall have occurred; or

 

(b)                                 Any Originator shall fail to make when due any payment or deposit to be made by it under this Agreement or any other Transaction Document to which it is a party and such failure shall remain unremedied for two (2) Business Days; or

 

(c)                                  Any representation or warranty made or deemed to be made by any Originator (or any of its officers) under or in connection with this Agreement, any other Transaction Documents to which it is a party, or any other information or report delivered pursuant hereto or thereto shall prove to have been incorrect or untrue in any material respect when made or deemed made or delivered; provided, however, that such breach shall not constitute a Termination Event pursuant to this clause (c) if such breach is cured within ten (10) Business Days following the date that a Financial Officer or other Responsible Officer of the Originator has knowledge or has received notice of such

 

19

 

breach; provided further that no breach of a representation or warranty set forth in Sections 5.10, 5.15 or 5.17 shall constitute a Termination Event pursuant to this clause (c) if credit for the account of the Buyer has been given as required pursuant to Section 3.2(c) with respect to such breach; or

 

(d)                                 Any Originator shall fail to perform or observe any other term, covenant or agreement contained in this Agreement or any other Transaction Document to which it is a party on its part to be performed or observed and such failure shall continue for thirty (30) days after the earlier of such Originator’s knowledge or notice thereof.

 

SECTION 8.2  Remedies.

 

(a)                                 Optional Termination.  Upon the occurrence of a Termination Event hereunder, the Buyer shall have the option, by notice to the Originators (with a copy to the Administrative Agent), to declare the Purchase Facility as terminated.

 

(b)                                 Remedies Cumulative.  Upon any termination of the Purchase Facility pursuant to Section 8.2(a), the Administrative Agent (as total assignee of the Buyer) shall have, in addition to all other rights and remedies under this Agreement, all other rights and remedies provided under the UCC of each applicable jurisdiction and other Applicable Laws, which rights shall be cumulative.

 

ARTICLE IX
 INDEMNIFICATION

 

SECTION 9.1  Indemnities by the Originators.  Without limiting any other rights which the Buyer may have hereunder or under Applicable Law, each Originator, severally and for itself alone, hereby agrees to indemnify the Buyer and each of its officers, directors, employees, agents, and its successors and assigns (each of the foregoing Persons being individually called a “Purchase and Sale Indemnified Party”), forthwith on demand, from and against any and all damages, losses, claims, judgments, liabilities and related costs and expenses, including reasonable attorneys’ fees and disbursements (all of the foregoing being collectively called “Purchase and Sale Indemnified Amounts”) awarded against or incurred by any of them arising out of or as a result of the failure of such Originator to perform its obligations under this Agreement or any other Transaction Document, or arising out of the claims asserted against a Purchase and Sale Indemnified Party relating to the transactions contemplated herein or therein or the use of proceeds thereof or therefrom; excluding, however, (i) Purchase and Sale Indemnified Amounts to the extent resulting from gross negligence or willful misconduct on the part of such Purchase and Sale Indemnified Party, (ii) any indemnification which has the effect of recourse for non-payment of the Receivables due to a discharge in bankruptcy or similar insolvency proceeding or other credit related reasons with respect to the relevant Obligor and (iii) any net income or franchise tax imposed on such Purchase and Sale Indemnified Party by the jurisdiction under the laws of which such Purchase and Sale Indemnified Party is organized, where it is subject to net income or franchise tax for reasons unrelated to the transactions contemplated hereby or where its principal executive office is located or any political subdivision thereof.  Without limiting the foregoing, and subject to the exclusions set forth in the

 

20

 

preceding sentence, each Originator, severally, shall pay on demand (which demand shall be accompanied by documentation of the Purchase and Sale Indemnified Amounts, in reasonable detail) to each Purchase and Sale Indemnified Party for any and all amounts necessary to indemnify such Purchase and Sale Indemnified Party from and against any and all Purchase and Sale Indemnified Amounts relating to or resulting from:

 

(a)                                 the transfer by such Originator of an interest in any Receivable to any Person other than the Buyer;

 

(b)                                 the breach of any representation or warranty made by such Originator (or any of its officers) under or in connection with this Agreement or any other Transaction Document, or any information or report delivered by Originator pursuant hereto or thereto, which shall have been false or incorrect when made or deemed made;

 

(c)                                  the failure by such Originator to comply with any Applicable Law with respect to any Receivable generated by such Originator sold or otherwise transferred or purported to be transferred hereunder or the related Contract, or the nonconformity of any Receivable generated by such Originator sold or otherwise transferred or purported to be transferred hereunder or the related Contract with any such Applicable Law;

 

(d)                                 the failure by such Originator to vest and maintain vested in the Buyer an ownership interest in the Receivables generated by such Originator sold or otherwise transferred or purported to be transferred hereunder free and clear of any Adverse Claim;

 

(e)                                  the failure to file, or any delay in filing, by such Originator financing statements or other similar instruments or documents under the UCC of any applicable jurisdiction or other Applicable Laws with respect to any Receivables or purported Receivables generated by such Originator sold or otherwise transferred or purported to be transferred hereunder, whether at the time of any purchase or at any subsequent time to the extent required hereunder;

 

(f)                                   any dispute, claim, offset or defense (other than discharge in bankruptcy or similar insolvency proceeding of an Obligor or other credit related reasons) of the Obligor to the payment of any Receivable or purported Receivable generated by such Originator sold or otherwise transferred or purported to be transferred hereunder (including, without limitation, a defense based on such Receivable’s or the related Contract’s not being a legal, valid and binding obligation of such Obligor enforceable against it in accordance with its terms), or any other claim resulting from the services related to any such Receivable or the furnishing of or failure to furnish such services;

 

(g)                                  any product liability claim arising out of or in connection with the products or services that are the subject of any Receivable generated by such Originator;

 

(h)                                 the commingling of Collections of Receivables at any time with other funds; and

 

21

 

(i)            any tax or governmental fee or charge (other than any tax excluded pursuant to clause (iii) in the proviso to the preceding sentence), all interest and penalties thereon or with respect thereto, and all out-of-pocket costs and expenses, including the reasonable fees and expenses of counsel in defending against the same, which are required to be paid by reason of the purchase or ownership of the Receivables generated by such Originator or any Related Security connected with any such Receivables.

 

If for any reason the indemnification provided above in this Section 9.1 is unavailable to a Purchase and Sale Indemnified Party or is insufficient to hold such Purchase and Sale Indemnified Party harmless, then each of the Originators, severally with each other Originator, shall contribute to the amount paid or payable by such Purchase and Sale Indemnified Party to the maximum extent permitted under Applicable Law.

 

ARTICLE X
 MISCELLANEOUS

 

SECTION 10.1  Amendments, etc.

 

(a)           The provisions of this Agreement may from time to time be amended, modified or waived, if such amendment, modification or waiver is in writing and executed by the Buyer and each Originator, with (prior to the Final Payout Date) the prior written consent of the Administrative Agent; any such amendment, modification or waiver effected prior to the Final Payout Date without the prior written consent of the Administrative Agent shall be void ab initio.

 

(b)           No failure or delay on the part of the Buyer, the Servicer, any Originator, the Administrative Agent or any third party beneficiary in exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise thereof or the exercise of any other power or right.  No notice to or demand on the Buyer or any Originator in any case shall entitle it to any notice or demand in similar or other circumstances.  No waiver or approval by the Buyer or the Administrative Agent under this Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions.  No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval thereafter to be granted hereunder.

 

(c)           The Transaction Documents contain a final and complete integration of all prior expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written understandings.

 

SECTION 10.2  Notices, etc.  All notices and other communications provided for hereunder shall, unless otherwise stated herein, be in writing (including facsimile and electronic communication) and shall be delivered or sent by electronic mail, facsimile, or by overnight mail, to the intended party at the mailing address, electronic mail address or facsimile number of such party set forth on Schedule VI hereto or at such other mailing address, electronic mail address or facsimile number as shall be designated by such party in a written notice to the other parties hereto or in the case of the Administrative Agent, at its address for notice pursuant to the

 

22

 

Receivables Financing Agreement.  All such notices and communications shall be effective (i) if delivered by overnight mail or electronic mail, when received, and (ii) if transmitted by facsimile or electronic communication, when sent, receipt confirmed by telephone or electronic means.

 

SECTION 10.3  No Waiver; Cumulative Remedies.  The remedies herein provided are cumulative and not exclusive of any remedies provided by law.  Without limiting the foregoing, each Originator hereby authorizes the Buyer, the Borrower, the Administrative Agent, each Lender and the LC Bank (collectively, the “Set-off Parties”), at any time and from time to time, to the fullest extent permitted by law, to set off, against any obligations of such Originator to such Set-off Party arising in connection with the Transaction Documents (including, without limitation, amounts payable pursuant to Section 9.1) that are then due and payable or that are not then due and payable but have accrued, any and all deposits (general or special, time or demand, provisional or final) at any time held by, and any and all indebtedness at any time owing by, any Set-off Party to or for the credit or the account of such Originator.

 

SECTION 10.4  Binding Effect; Assignability.  This Agreement shall be binding upon and inure to the benefit of the Buyer and each Originator and their respective successors and permitted assigns.  No Originator may assign any of its rights hereunder or any interest herein without the prior written consent of the Buyer, the Borrower and the Administrative Agent; any such assignment made without the prior written consent of the Administrative Agent shall be void ab initio.  This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the parties hereto shall agree.  The rights and remedies with respect to any breach of any representation and warranty made by any Originator pursuant to Article V and the indemnification and payment provisions of Article IX and Section 10.6 shall be continuing and shall survive any termination of this Agreement.  Nothing herein shall restrict Buyer from assigning its rights, title and interests under this Agreement to the Borrower pursuant to the Sale and Contribution Agreement.

 

SECTION 10.5  Governing Law.  THIS AGREEMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF, EXCEPT TO THE EXTENT THAT THE PERFECTION, THE EFFECT OF PERFECTION OR PRIORITY OF THE INTERESTS OF BUYER, ADMINISTRATIVE AGENT OR ANY LENDER IN THE COLLATERAL IS GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK).

 

SECTION 10.6  Costs, Expenses and Taxes.  In addition to the obligations of the Originators under Article IX, each Originator, severally and for itself alone, agrees to pay on demand:

 

(a)           to the Buyer (and any successor and permitted assigns thereof) all reasonable costs and expenses incurred by such Person in connection with the enforcement of this Agreement and the other Transaction Documents; and

 

23

 

(b)           all stamp and other taxes and fees payable in connection with the execution, delivery, filing and recording of this Agreement or the other Transaction Documents to be delivered hereunder, and agrees to indemnify each Purchase and Sale Indemnified Party against any liabilities with respect to or resulting from any delay in paying or omitting to pay such taxes and fees.

 

SECTION 10.7  SUBMISSION TO JURISDICTION.  EACH PARTY HERETO HEREBY IRREVOCABLY (a) SUBMITS TO (I) WITH RESPECT TO ANY ORIGINATOR, THE BUYER OR ANY AFFILIATE THEREOF, THE EXCLUSIVE JURISDICTION, AND (II) WITH RESPECT TO ANY OTHER PARTY, THE NON-EXCLUSIVE JURISDICTION, IN EACH CASE, OF ANY NEW YORK STATE OR FEDERAL COURT SITTING IN NEW YORK CITY, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND EACH PARTY HERETO HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING (I) IF BROUGHT BY ANY ORIGINATOR, THE BUYER OR ANY AFFILIATE THEREOF, SHALL BE HEARD AND DETERMINED, AND (II) IF BROUGHT BY ANY OTHER PARTY, MAY BE HEARD AND DETERMINED, IN EACH CASE, IN SUCH NEW YORK STATE COURT OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT; (b) WAIVES, TO THE FULLEST EXTENT THEY MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING; AND (c) IRREVOCABLY CONSENTS TO THE SERVICE OF ANY AND ALL PROCESS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES OF SUCH PROCESS TO SUCH PERSON AT ITS ADDRESS SPECIFIED IN SECTION 10.2.  NOTHING IN THIS SECTION 10.7 SHALL AFFECT THE BUYER’S RIGHT TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING ANY ACTION OR PROCEEDING AGAINST ANY ORIGINATOR OR ITS PROPERTY IN THE COURTS OF ANY OTHER JURISDICTIONS.

 

SECTION 10.8  WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT.

 

SECTION 10.9  Captions and Cross References; Incorporation by Reference.  The various captions (including, without limitation, the table of contents) in this Agreement are included for convenience only and shall not affect the meaning or interpretation of any provision of this Agreement.  References in this Agreement to any underscored Section or Exhibit are to such Section or Exhibit of this Agreement, as the case may be.  The Exhibits hereto are hereby incorporated by reference into and made a part of this Agreement.

 

SECTION 10.10  Execution in Counterparts.  This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Agreement.

 

24

 

SECTION 10.11  Severability.  Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

SECTION 10.12  Acknowledgment and Agreement.  By execution below, each Originator expressly acknowledges and agrees that all of the Buyer’s rights, title, and interests in, to, and under this Agreement (but not its obligations), shall be assigned by the Buyer to the Borrower pursuant to the Sale and Contribution Agreement and then by the Borrower to the Administrative Agent (for the benefit of the Secured Parties) pursuant to the Receivables Financing Agreement, and each Originator irrevocably consents to such assignments.  Each of the parties hereto acknowledges and agrees that the Borrower and Administrative Agent (for the benefit of the Secured Parties) is a third-party beneficiary of the rights of the Buyer arising hereunder and under the other Transaction Documents to which any Originator is a party, and notwithstanding anything to the contrary contained herein or in any other Transaction Document, during the occurrence and continuation of an Event of Default under the Receivables Financing Agreement, the Administrative Agent, and not the Buyer, shall have the sole right to exercise all such rights and related remedies.

 

[Signature Pages Follow]

 

25

 

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

 

 

	
 
    	
ALLIANCE   RESOURCE OPERATING PARTNERS, L.P., as Buyer
    
	
 
    	
 
    
	
 
    	
By:   Alliance Resource Management GP, LLC, its managing general partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   R. EBERLEY DAVIS
    
	
 
    	
Name:   R. Eberley Davis
    
	
 
    	
Title:   Senior Vice President, General Counsel and Secretary
    

 

Purchase and Sale Agreement

 

S-1

 

	
 
    	
ORIGINATORS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ALLIANCE   COAL, LLC
    
	
 
    	
GIBSON   COUNTY COAL, LLC
    
	
 
    	
HOPKINS   COUNTY COAL, LLC
    
	
 
    	
METTIKI   COAL (WV), LLC
    
	
 
    	
MT.   VERNON TRANSFER TERMINAL, LLC
    
	
 
    	
RIVER   VIEW COAL, LLC
    
	
 
    	
SEBREE   MINING, LLC
    
	
 
    	
TUNNEL   RIDGE, LLC
    
	
 
    	
WHITE   COUNTY COAL, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   R. EBERLEY DAVIS
    
	
 
    	
Name:   R. Eberley Davis
    
	
 
    	
Title:   Senior Vice President, General Counsel and Secretary
    

 

Purchase and Sale Agreement

 

S-2

 

Schedule I

 

LIST OF ORIGINATORS

 

Alliance Coal, LLC

 

Gibson County Coal, LLC

 

Hopkins County Coal, LLC

 

Mettiki Coal (WV), LLC

 

Mt. Vernon Transfer Terminal, LLC

 

River View Coal, LLC

 

Sebree Mining, LLC

 

Tunnel Ridge, LLC

 

White County Coal, LLC

 

Purchase and Sale Agreement

 

Schedule I-1

 

Schedule II

 

LOCATION OF EACH ORIGINATOR

 

	
Originator
    	
 
    	
Location
    
	
 
    	
 
    	
 
    
	
Alliance   Coal, LLC
    	
 
    	
Delaware
    
	
 
    	
 
    	
 
    
	
Gibson   County Coal, LLC
    	
 
    	
Delaware
    
	
 
    	
 
    	
 
    
	
Hopkins   County Coal, LLC
    	
 
    	
Delaware
    
	
 
    	
 
    	
 
    
	
Mettiki   Coal (WV), LLC
    	
 
    	
Delaware
    
	
 
    	
 
    	
 
    
	
Mt.   Vernon Transfer Terminal, LLC
    	
 
    	
Delaware
    
	
 
    	
 
    	
 
    
	
River   View Coal, LLC
    	
 
    	
Delaware
    
	
 
    	
 
    	
 
    
	
Sebree   Mining, LLC
    	
 
    	
Delaware
    
	
 
    	
 
    	
 
    
	
Tunnel   Ridge, LLC
    	
 
    	
Delaware
    
	
 
    	
 
    	
 
    
	
White County Coal, LLC
    	
 
    	
Delaware
    

 

Purchase and Sale Agreement

 

Schedule II-1

 

Schedule III

 

LOCATION OF BOOKS AND RECORDS OF EACH ORIGINATOR

 

	
Originator
    	
 
    	
Location of Books and Records
    
	
 
    	
 
    	
 
    
	
Alliance   Coal, LLC
    	
 
    	
1717   S. Boulder Ave., Suite 400, Tulsa, Oklahoma
    
	
Gibson   County Coal, LLC
    	
 
    	
1717 S. Boulder Ave., Suite 400, Tulsa,   Oklahoma
    
	
Hopkins   County Coal, LLC
    	
 
    	
1717 S. Boulder Ave., Suite 400, Tulsa,   Oklahoma
    
	
Mettiki   Coal (WV), LLC
    	
 
    	
1717   S. Boulder Ave., Suite 400, Tulsa, Oklahoma
    
	
Mt.   Vernon Transfer Terminal, LLC
    	
 
    	
1717   S. Boulder Ave., Suite 400, Tulsa, Oklahoma
    
	
River   View Coal, LLC
    	
 
    	
1717   S. Boulder Ave., Suite 400, Tulsa, Oklahoma
    
	
Sebree   Mining, LLC
    	
 
    	
1717   S. Boulder Ave., Suite 400, Tulsa, Oklahoma
    
	
Tunnel   Ridge, LLC
    	
 
    	
1717   S. Boulder Ave., Suite 400, Tulsa, Oklahoma
    
	
White   County Coal, LLC
    	
 
    	
1717   S. Boulder Ave., Suite 400, Tulsa, Oklahoma
    

 

Purchase and Sale Agreement

 

Schedule III-1

 

Schedule IV

 

TRADE NAMES

 

	
Legal Name
    	
 
    	
Trade Names
    
	
 
    	
 
    	
 
    
	
Alliance   Coal, LLC
    	
 
    	
Not Applicable
    
	
Gibson   County Coal, LLC
    	
 
    	
Not Applicable
    
	
Hopkins   County Coal, LLC
    	
 
    	
Not   Applicable
    
	
Mettiki   Coal (WV), LLC
    	
 
    	
Not   Applicable
    
	
Mt.   Vernon Transfer Terminal, LLC
    	
 
    	
Not   Applicable
    
	
River   View Coal, LLC
    	
 
    	
Not   Applicable
    
	
Sebree   Mining, LLC
    	
 
    	
Not   Applicable
    
	
Tunnel   Ridge, LLC
    	
 
    	
Not   Applicable
    
	
White   County Coal, LLC
    	
 
    	
Not   Applicable
    

 

Purchase and Sale Agreement

 

Schedule IV-1

 

Schedule V

 

LOCATION OF MINING OPERATIONS

 

	
ORIGINATOR
    	
 
    	
MINEHEAD
    	
 
    	
STATE
    	
 
    	
COUNTY
    
	
Alliance   Coal, LLC
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    
	
Gibson   County Coal, LLC
    	
 
    	
Gibson   N. Complex/

Gibson   S. Complex
    	
 
    	
IN
    	
 
    	
Gibson   County

Knox   County
    
	
Hopkins   County Coal, LLC
    	
 
    	
Hopkins   County Coal
    	
 
    	
KY
    	
 
    	
Hopkins   County
    
	
Mettiki   Coal (WV), LLC
    	
 
    	
Mettiki-   Mountain View Mine
    	
 
    	
WV
    	
 
    	
Grant   County

Tucker   County
    
	
Mt.   Vernon Transfer Terminal, LLC
    	
 
    	
N/A   (Transfer Terminal)
    	
 
    	
N/A
    	
 
    	
N/A
    
	
River   View Coal, LLC
    	
 
    	
River   View
    	
 
    	
KY
    	
 
    	
Union   County
    
	
Sebree   Mining, LLC
    	
 
    	
Option   #9 Mining
    	
 
    	
KY
    	
 
    	
Hopkins   County

Webster   County
    
	
Tunnel   Ridge, LLC
    	
 
    	
Tunnel   Ridge
    	
 
    	
PA

WV
    	
 
    	
Washington   County

Ohio   County
    
	
White   County Coal, LLC
    	
 
    	
Pattiki
    	
 
    	
IL
    	
 
    	
White   County
    

 

Purchase and Sale Agreement

 

Schedule V-1

 

Schedule VI

 

ADDRESSES FOR NOTICES

 

The Buyer:

 

1717 South Boulder Avenue

Tulsa, Oklahoma 74119

Facsimile:  918-295-7361

Attn:  Cary P. Marshall

 

with a copy to:

 

1146 Monarch St.

Lexington, Kentucky 40513

Facsimile:  859-223-3057

Attn:  R. Eberley Davis

 

Originators:

 

1717 South Boulder Avenue

Tulsa, Oklahoma 74119

Facsimile:  918-295-7361

Attn:  Cary P. Marshall

 

with a copy to:

 

1146 Monarch St.

Lexington, Kentucky 40513

Facsimile:  859-223-3057

Attn:  R. Eberley Davis

 

Purchase and Sale Agreement

 

Exhibit A-1

 

Exhibit A

 

FORM OF PURCHASE REPORT

 

	
Originator:
    	
 
    	
[Name   of Originator]
    
	
 
    	
 
    	
 
    
	
Purchaser:
    	
 
    	
Alliance Resource Operating Partners, L.P.
    
	
 
    	
 
    	
 
    
	
Payment Date:
    
	
 
    	
 
    
	
1.
    	
Outstanding Balance of Receivables Purchased:
    
	
 
    	
 
    
	
2.
    	
Fair Market Value Discount:
    
	
 
    	
 
    
	
 
    	
1/{1 + [(Prime Rate x Days’ Sales Outstanding]}
    
	
 
    	
                                             365
    
	
 
    	
 
    
	
 
    	
Where:
    
	
 
    	
 
    
	
 
    	
Prime Rate =
    
	
 
    	
 
    
	
 
    	
Days’ Sales Outstanding =
    
	
 
    	
 
    
	
3.
    	
Purchase Price (1 x 2) = $
    
				

 

Purchase and Sale Agreement

 

Exhibit A-1

 

Exhibit B

 

FORM OF JOINDER AGREEMENT

 

THIS JOINDER AGREEMENT, dated as of                       , 20       (this “Agreement”) is executed by                    , a [corporation] organized under the laws of                      (the “Additional Originator”), with its principal place of business located at                     .

 

BACKGROUND:

 

A.                                    Alliance Resource Operating Partners, L.P., a Delaware limited partnership (the “Company”) and the various entities from time to time party thereto, as Originators (collectively, the “Originators”), have entered into that certain Purchase and Sale Agreement, dated as of December 5, 2014 (as amended, restated, supplemented or otherwise modified through the date hereof, and as it may be further amended, restated, supplemented or otherwise modified from time to time, the “Purchase and Sale Agreement”).

 

B.                                    The Additional Originator desires to become an Originator pursuant to Section 4.3 of the Purchase and Sale Agreement.

 

NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Additional Originator hereby agrees as follows:

 

SECTION 1.                            Definitions.  Capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings assigned thereto in the Purchase and Sale Agreement or in the Receivables Financing Agreement (as defined in the Purchase and Sale Agreement).

 

SECTION 2.                            Transaction Documents.  The Additional Originator hereby agrees that it shall be bound by all of the terms, conditions and provisions of, and shall be deemed to be a party to (as if it were an original signatory to), the Purchase and Sale Agreement and each of the other relevant Transaction Documents.  From and after the later of the date hereof and the date that the Additional Originator has complied with all of the requirements of Section 4.3 of the Purchase and Sale Agreement, the Additional Originator shall be an Originator for all purposes of the Purchase and Sale Agreement and all other Transaction Documents. The Additional Originator hereby acknowledges that it has received copies of the Purchase and Sale Agreement and the other Transaction Documents.

 

SECTION 3.                            Representations and Warranties.  The Additional Originator hereby makes all of the representations and warranties set forth in Article V (to the extent applicable) of the Purchase and Sale Agreement as of the date hereof (unless such representations or warranties relate to an earlier date, in which case as of such earlier date), as if such representations and warranties were fully set forth herein.  The Additional Originator hereby represents and warrants that its location (as defined in the applicable UCC) is [                                        ], and the location of its mining operations, the names of the related mineheads and the offices where the Additional Originator keeps all of its Records and Related Security are as follows:

 

Purchase and Sale Agreement

 

Exhibit B-1

 

 

 

SECTION 4.                            Miscellaneous.  THIS AGREEMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).  This Agreement is executed by the Additional Originator for the benefit of the Buyer, and its assigns, and each of the foregoing parties may rely hereon.  This Agreement shall be binding upon, and shall inure to the benefit of, the Additional Originator and its successors and permitted assigns.

 

[Signature Pages Follow]

 

Exhibit B-2

 

IN WITNESS WHEREOF, the undersigned has caused this Agreement to be executed by its duly authorized officer as of the date and year first above written.

 

 

	
 
    	
[NAME   OF ADDITIONAL ORIGINATOR]
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    

 

	
Consented   to:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
ALLIANCE   RESOURCE OPERATING PARTNERS, L.P.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Acknowledged   by:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
PNC   BANK, NATIONAL ASSOCIATION,
    	
 
    	
 
    
	
as   Administrative Agent
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    	
 
    	
 
    

 

Exhibit B-3

 

Exhibit C

 

FORM OF DEMAND NOTE

 

[        ], 20[    ]

 

FOR VALUE RECEIVED, the undersigned, ALLIANCE RESOURCE OPERATING PARTNERS, L.P., a Delaware limited partnership (the “Buyer”), promises to pay to [                                ], a [                            ] (the “Originator”), on the terms and subject to the conditions set forth herein and in the Purchase and Sale Agreement referred to below, the aggregate unpaid Purchase Price of all Receivables purchased by the Buyer from the Originator pursuant to such Purchase and Sale Agreement, as such unpaid Purchase Price is shown in the records of the Servicer.

 

1.                                      Purchase and Sale Agreement.  This Demand Note is one of the Demand Notes described in, and is subject to the terms and conditions set forth in, that certain Purchase and Sale Agreement dated as of December 5, 2014 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Purchase and Sale Agreement”), among the Buyer, the Originator, and the other originators from time to time party thereto.  Reference is hereby made to the Purchase and Sale Agreement for a statement of certain other rights and obligations of the Buyer and the Originator.

 

2.                                      Definitions.  Capitalized terms used (but not defined) herein have the meanings assigned thereto in the Purchase and Sale Agreement and in Article I of the Receivables Financing Agreement (as defined in the Purchase and Sale Agreement).  In addition, as used herein, the following terms have the following meanings:

 

“Final Maturity Date” means the date that falls one hundred eighty (180) days after the Purchase and Sale Termination Date.

 

“Prime Rate” means a per  annum rate equal to the “U.S. Prime Rate” as published in the “Money Rates” section of The Wall Street Journal or if such information ceases to be published in The Wall Street Journal, such other publication as determined by the Buyer in its sole discretion.

 

3.                                      Interest.  The Buyer promises to pay interest on this Demand Note as follows: to (but excluding) the date on which the entire aggregate unpaid Purchase Price is fully paid, the aggregate unpaid Purchase Price from time to time outstanding shall bear interest at a rate per  annum equal to the Prime Rate.

 

4.                                      Interest Payment Dates.  The Buyer shall pay accrued interest on this Demand Note upon Originator’s demand and shall pay accrued interest on the amount of each principal payment made in cash at the time of such principal payment.

 

5.                                      Basis of Computation.  Interest accrued hereunder shall be computed for the actual number of days elapsed on the basis of a 365- or 366-day year, as the case may be.

 

Purchase and Sale Agreement

 

Exhibit C-1

 

6.                                      Principal Payment Dates.  Payments of the principal amount of this Demand Note shall be made as follows:

 

(a)                                 The principal amount of this Demand Note shall be reduced by an amount equal to each payment deemed made pursuant to Section 3.2 of the Purchase and Sale Agreement.

 

(b)                                 The entire outstanding principal amount of this Demand Note shall be paid on the Final Maturity Date.

 

(c)                                  All or any portion of the outstanding principal amount of this Demand Note shall be paid upon Originator’s demand.

 

(d)                                 The principal amount of and accrued interest on this Demand Note may be prepaid by, and in the sole discretion of the Buyer, on any Business Day without premium or penalty.

 

7.                                      Payment Mechanics.  All payments of principal and interest hereunder are to be made in lawful money of the United States of America.

 

8.                                      Enforcement Expenses.  The Buyer agrees to pay all expenses, including Attorney Costs, incurred by the Originator in seeking to collect any amounts payable hereunder which are not paid when due.

 

9.                                      General.  No failure or delay on the part of the Originator in exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise thereof or the exercise of any other power or right.  No amendment, modification or waiver of, or consent with respect to, any provision of this Demand Note shall in any event be effective unless (i) the same shall be in writing and signed and delivered by the Buyer and the holder and (ii) all consents required for such actions under the Transaction Documents shall have been received by the appropriate Persons.

 

10.                               Maximum Interest.  Notwithstanding anything in this Demand Note to the contrary, the Buyer shall never be required to pay unearned interest on any amount outstanding hereunder and shall never be required to pay interest on the principal amount outstanding hereunder at a rate in excess of the maximum nonusurious interest rate that may be contracted for, charged or received under applicable federal or state law (such maximum rate being herein called the “Highest Lawful Rate”).  If the effective rate of interest which would otherwise be payable under this Demand Note would exceed the Highest Lawful Rate, or if the holder of this Demand Note shall receive any unearned interest or shall receive monies that are deemed to constitute interest which would increase the effective rate of interest payable by the Buyer under this Demand Note to a rate in excess of the Highest Lawful Rate, then (i) the amount of interest which would otherwise be payable by the Buyer under this Demand Note shall be reduced to the amount allowed by Applicable Law, and (ii) any unearned interest paid by the Buyer or any interest paid by the Buyer in excess of the Highest Lawful Rate shall be refunded to the Buyer.  Without limitation of the foregoing, all calculations of the rate of interest contracted for, charged

 

Exhibit C-2

 

or received by the Originator under this Demand Note that are made for the purpose of determining whether such rate exceeds the Highest Lawful Rate applicable to the Originator (such Highest Lawful Rate being herein called the “Originator’s Maximum Permissible Rate”) shall be made, to the extent permitted by usury laws applicable to the Originator (now or hereafter enacted), by amortizing, prorating and spreading in equal parts during the actual period during which any amount has been outstanding hereunder all interest at any time contracted for, charged or received by the Originator in connection herewith.  If at any time and from time to time (i) the amount of interest payable to the Originator on any date shall be computed at the Originator’s Maximum Permissible Rate pursuant to the provisions of the foregoing sentence and (ii) in respect of any subsequent interest computation period the amount of interest otherwise payable to the Originator would be less than the amount of interest payable to the Originator computed at the Originator’s Maximum Permissible Rate, then the amount of interest payable to the Originator in respect of such subsequent interest computation period shall continue to be computed at the Originator’s Maximum Permissible Rate until the total amount of interest payable to the Originator shall equal the total amount of interest which would have been payable to the Originator if the total amount of interest had been computed without giving effect to the provisions of the foregoing sentence.

 

11.                               Governing Law.  THIS DEMAND NOTE, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).

 

12.                               Captions.  Paragraph captions used in this Demand Note are for convenience only and shall not affect the meaning or interpretation of any provision of this Demand Note.

 

Exhibit C-3

 

IN WITNESS WHEREOF, the Buyer has caused this Demand Note to be executed as of the date first written above.

 

	
 
    	
ALLIANCE   RESOURCE OPERATING PARTNERS, L.P.
    
	
 
    	
 
    
	
 
    	
By:   Alliance Resource Management, GP, LLC, its managing general partner
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

Exhibit C-4

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